WEDNESDAY 19TH MAY 2021

FG Considers Options on Divestment Plan by Shell Says proceeds of marginal fields used to augment FAAC Ndubuisi Francis and Emmanuel Addeh in Abuja with agency report The federal government is weighing some options as

discussions with Anglo-Dutch oil company, Shell Petroleum Development Company, begin over its plan for total divestment from onshore operations in Nigeria.

The Minister of State, Petroleum Resources, Chief Timipre Sylva, yesterday in Abuja listed three possible options being considered as comprising a takeover

of the company's stake in the oil and gas industry by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum

Corporation (NNPC); acquisition by indigenous operators and involving a mixture of local players and other foreign independent operators in the process.

The Anglo-Dutch energy giant has been gradually selling its onshore assets for over a decade in Nigeria.

Continued on page 58

Agric Projects Not Skewed to Favour Any Zone, Says Emefiele... Page 8 Wednesday 19 May, 2021 Vol 26. No 9537. Price: N250

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Analysts Differ on Buhari’s Quest for Fresh N2.3tn External Loan N’Assembly considers request APC mortgaging nation’s future, says PDP Deji Elumoye, Chuks Okocha, Udora Orizu in Abuja, Dike Onwuamaeze and Nume Ekeghe in Lagos Financial analysts and the organised private sector yesterday expressed mixed feelings over Nigeria’s rising public debt following a fresh request by President Muhammadu Buhari to the National Assembly to approve a $6.18 billion foreign loan.

Before the latest request, Nigeria’s total external debt stood at $33.348 billion, while total public debt stock as of December 30, 2021, which was released by the DMO in March 2021, stood at N32.915 trillion.

Buhari, in different letters to both chambers of the National Assembly urged the lawmakers to approve his request to borrow N2.3 Continued on page 10

IG Launches ‘Operation Restore Peace’ in South-east Buhari: Insecurity grows propensity for conflict Deji Elumoye in Abuja, Christopher Isiguzo and Gideon Arinze in Enugu The acting Inspector-General of Police (IG), Mr. Usman Alkali, yesterday launched a new operation to battle the rising insecurity in the South-east.

He also charged policemen in the region to be ruthless with secessionists.

The launch of the new security strategy, codenamed “Operation RP” is coming barely 24 hours after the headquarters of the Independent National Electoral Continued on page 10

FINANCING AFRICA...

President Emmanuel Macron of France (left) and President, Dangote Industries Limited, Mr. Aliko Dangote, during the ongoing summit on African finance in Paris…yesterday

Kaduna Industrial Crisis Worsens as Hoodlums Attack Protesting Workers... Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Kaduna Industrial Crisis Worsens as Hoodlums Attack Protesting Workers El-Rufai declares Wabba wanted APC govs sue for peace

John Shiklam in Kaduna Armed thugs alleged to have been sponsored yesterday attacked the protesting workers led by the President of the Nigeria Labour Congress (NLC), Mr. Ayuba Wabba, in Kaduna just as governors elected on the platform of the All Progressives Congress (APC) have appealed to the Kaduna State government and the NLC to settle the rift.

But Governor Nasir el-Rufai has declared Wabba and other labour leaders wanted for alleged economic sabotage even as he sacked nurses below Grade Level 14.

In a swift response, Wabba said he was waiting for el-Rufai to arrest him and his colleagues.

The workers were attacked at the NEPA Roundabout, Kaduna, during their peaceful procession in continuation with their fiveday warning strike against the mass sacking of workers by the Kaduna State government.

The hoodlums, armed with sticks and knives arrived in two vehicles and Keke NAPEP, throwing stones at the protesters.

There was pandemonium as the police who have been accompanying the protesting workers on their processions swiftly responded by firing teargas at the hoodlums.

The workers also joined the police in repelling the thugs one of whom was caught and beaten mercilessly.

Wabba announced that one of the suspected thugs below the age of 16 died as a result of the stone thrown at him accidentally by one of the thugs.

However, the workers carried on with their procession back to the state secretariat of the NLC after the disruption.

Speaking in an interview with ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, the NLC president condemned the attack, alleging that the thugs were sponsored

by Governor Nasir el-Rufai.

Wabba said: “Today is a sad day in the history of democracy in Nigeria.

“Early in the morning today, we got credible information that Governor El-Rufai had hired one Alhaji Hassan Gwaska, who lives in Hayin Banki.

“He was a car dealer; he hired some thugs to come and attack us.

“I called the DSS (Department of State Services), I called the DIG (Deputy Inspector-General) Operations, I also called the Director of SSS (State Security Services) and gave them the information.

“While we are here, they (thugs) came, but we thank God, we dismantled them. We have chased them away because we have the number.

“We are not thugs and we are not using thugs, we are using Nigerian workers”.

Reacting to el-Rufai’s

declaration of them as wanted persons, Wabba said he was waiting for the governor to arrest him.

The NLC President said the issue is not about him but about

workers.

“We are here and waiting for him to come and arrest us.

This is not about me, it is about Nigerian workers,” Wabba said.

The Kaduna State governments

yesterday announced the dismissal of all nurses below Grade Level 14 for the illegal strike.

A statement issued by the Special Adviser on Media and

Communication, Mr. Muyiwa Adekeye, said the state Ministry of Health had been directed to advertise vacancies for the Continued on page 58

TRANSPORTATION FOR THE PEOPLE...

Lagos State Governor, Mr. Babatunde Sanwo-Olu, during the inauguration of the First and Last Mile (FLM) Bus Scheme in Ikeja…yesterday

Pension Assets Rise to N12.34tn in March

Ebere Nwoji

Nigeria’s total pension fund assets appreciated by N100 billion in March to rally at N12.34 trillion as against the N12.24 trillion recorded the previous month.

Data obtained from the National Pension Commission’s (PenCom) website yesterday revealed that for the period ended March 31, 2021, total Retirement Saving Accounts (RSAs) registered rose marginally

to 9.30 million as against 9.27 million recorded in February.

This meant that the commission within one month registered 30,000 contributors through the various Pension Fund Administrators (PFAs).

Pension fund assets, which were N12.29 trillion in January 2021, had dropped to N12.24 trillion in February.

Of the various portfolios of investment where the assets were channelled to, PenCom stated that out of the N12.34

trillion assets, N8.51 trillion was invested in the federal government’s securities.

The federal government bonds gulped N7.67 trillion investment; treasury bills - N721.74 billion; agency bond - N12.91 billion; Sukuk bonds - N85.09 billion and green bonds got N12.88 billion investment allocation.

The report stated that in terms of the performance of the various fund structures, Fund Five for the period under review stood at N105.54 million as against

the N99.10 million recorded in February; Fund Four stood at N976, 897.00 million against N973, 605.77 million it received in February.

Also, Fund Three yielded N3, 194,628.31 million as against N3,158,981.52 million recorded in February while Fund Two stood at N5,388,628.31 against N5, 367,002.47 in February.

Similarly, Fund One rose slightly to N38, 325.25 in March as against N37, 887.66 million posted the previous month.

Also, the total number of registered contributors grew from 9,265,141 contributors in February to 9,300,058 in March.

Director-General of PenCom, Mrs. Aisha Dahir-Umar, said PenCom had within the 16 years of the pension reform, been able to positively transform the sector in Nigeria.

She listed the commission’s scorecard to include the licensing of 22 PFAs, seven CPFAs, four PFCs and many

approved existing pension schemes in the private sector.

According to her, RSA registration has reached 9.30 million as of March while the value of accumulated pension assets has hit N12.34 trillion as at the period.

The fund, she added, is currently invested in varied, but quality financial instruments, all tailored towards the development of the Nigerian economy and payment of pensions.

Demutualised NGX, Heralds New Era for Capital Market, Says Buhari Goddy Egene President Muhammadu Buhari has described the demutualisation and transitioning of Nigerian Stock Exchange (NSE) to the Nigerian Exchange Group (NGX) Plc as the beginning of a new era for the nation’s capital market.

Buhari spoke yesterday when the NGX Group hosted him at the launch of its campaign titled: 'The Stock Africa Is Made Of.' The demutualisation of the NSE led to the creation of the Nigerian Exchange Group Plc (NGX Group) with three operating subsidiaries. The subsidiaries are: Nigerian Exchange Limited (NGX Limited) that will be the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company.

The virtual event was held to amplify NGX Group’s positioning and commitment to the African financial markets as a leading capital market infrastructure

provider, connecting Nigeria, Africa and the world, as well as showcasing the growth potential of Africa.

Speaking before sounding the closing gong and bringing the day’s trading to a close, Buhari said it was his pleasure to join many others in the event organised to amplify the positive narrative about Africa and its great potential.

He stated: “Let me start by congratulating NGX Group Plc on its recently concluded demutualisation, which is the first in the country. I recall signing the Demutualisation Bill in August 2018, paving the way for the long-awaited demutualisation of the then Nigerian Stock Exchange.

“It is also important for me to highlight that the history of NGX Group is tied to that of the nation itself, founded 61 years ago at a pivotal time when Nigeria gained her independence. The Exchange continues to play its part in nation building by stimulating economic growth and providing a platform for

businesses and individual to save and raise capital through innovation, diversified products and services, enabling regulatory environment and much more.

“The occasion of the demutualisation of the NSE is yet a proud moment for all of us, and indeed all Nigerians deserve congratulations for this feat as it is the beginning of a new era for the capital market.”

The Group Chairman, NGX Group Plc, Mr. Abimbola Ogunbanjo, also said the exchange had come a long way, through different leadership regimes – civilian and military – that had overseen multiple booms and bust economic dispensations within the Nigerian economy, to emerge as a leading integrated market infrastructure in Africa and the engine of growth for Africa’s largest economy.

“Our story is one birthed from resilience, collaboration, determination and continued focus on our vision. A true African story. With demutualisation, NGX Group is well positioned to enable strong economic growth

and contribute its quota to the development of the Nigerian capital market, and the African Continent,” he added.

On his part, the Group Managing Director/Chief Executive Officer, NGX Group Plc, Mr. Oscar Onyema, said the NGX Group had a vision to be the premier exchange hub for Nigerian businesses and for the wider African economy building on the strong reputation and corporate governance the NSE had established over the years.

“As we march bravely into the NGX era, we look forward to impact-creating partnerships that will unlock value for our stakeholders, whilst improving the state of the Nigerian economy.

It is a period to reinforce on the global stage, our great African pedigree and the Stock Africa Is Made of,” he said.

The Chief Executive Officer (CEO) of NGX, Mr. Temi Popoola, said epochal closing gong ceremony could not have been possible without the president’s support.

He said: “The NGX era is

indeed very exciting for us and we will continue to champion the growth of the African capital market through trade and investments that will facilitate Africa’s economic recovery and reposition the continent for sustainable economic development. Partnerships are a critical element of our strategy and we will continue to engage our stakeholders whose support is essential to the achievement of our aspirations in this NGX era.”

In her closing remarks, the CEO, NGX Regulation Limited, Ms. Tinuade Awe, thanked Buhari for honouring their invitation to close the market on the official launch day of the NGX era.

“This has truly been an inspiring event and we have our amazing line-up of speakers to thank for that. I must also thank our regulators, the entire capital market ecosystem and the management and staff of Nigerian Exchange Group for the hard work and diligence that has set us firmly on the path of success. It has been an

exciting journey to date, and I am confident that we will all work well together to achieve even greater heights in the NGX era.”

The Director-General, Securities and Exchange Commission (SEC), the apex regulator of the capital market, Mr. Lamido Yuguda, said the commission would continue to support developments geared towards the growth and development of the capital market.

He urged all stakeholders to contribute their quota toward building a strong, resilient and competitive capital market.

“As we celebrate this landmark achievement, we urge the leadership of the exchange to ride the success achieved and surpass its lead position as one of the best performing exchanges in Africa to become one of the best performing exchanges in the world. The commission assures the exchange of its support and collaboration and together we will build the capital market of our dreams and contribute our quota to the development of the economy,” Lamido stated.

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Agric Projects Not Skewed to Favour Any Zone, Says Emefiele Says N300bn invested in agriculture in Southern states Govs commend apex bank’s interventions James Emejo in Abuja The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday faulted claims by critics that the bank's agricultural intervention programmes, particularly the Anchor Borrower Programme (ABP), were skewed to favour some sections of the country.

He described the criticism as unfair, especially given all the CBN had done in some states, including the Federal Capital Territory (FCT).

Emefiele said during the unveiling of Ekiti State rice pyramid project and the launch of the 2021 wet season rice cultivation in Ado Ekiti that the CBN is working on several fronts to fast-track the domestic production of milk and boost palm oil production in the country.

He added that it is also ready to support cocoa production.

He stated that the pyramid movement served to demonstrate that rice production is viable in all states.

He listed Lagos, Kwara, Kogi, Niger, Edo and Ekiti States among beneficiaries of CBN disbursements for various agricultural projects which are still ongoing.

Emefiele noted that out of about N700 billion that had been disbursed towards its agricultural programmes, over N300 billion had been disbursed either through the ABP, states or companies that are operating in the southern part of the country.

Specifically, he said two companies, Okomu Oil and Presco, which are involved in oil palm production in Edo State had received about N20 billion to boost their ventures while Greenfield, another firm involved in the production of ethanol in the state was also granted N7 million by the CBN. 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 asked Edo State to allocate land to companies that are interested in palm plantation as well as in cassava..."

He said: "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 for 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.

"And it is the reason why we decided that because we believe we can produce crude palm oil in Nigeria, we placed palm oil on our FX restriction and today, people are making money producing palm oil and selling and people refining and they are making money."

Stakeholders at the ceremony, including the Governor of Ekiti State and Chairman, Nigeria Governors' Forum (NGF), Dr. Kayode Fayemi, as well as his counterparts from Kebbi, Senator Atiku Bagudu; Jigawa, Muhammad Badaru Abubakar; Osun, Mr. Gboyega Oyetola and Ondo, Mr. Rotimi Akeredolu, commended Emefiele for his

support for the agricultural sector as well as working towards achieving food security and poverty alleviation in the country.

The CBN governor said attaining self-sufficiency in food production would not come cheap, but the country could make steady and consistent progress through positive strides in the right direction.

According to him, the right synergy among stakeholders will catalyse the growth process, while the apex bank is always ready to offer an effective partnership to deliver on the critical national mandate of attaining self-sufficiency in food production.

Emefiele said the auspicious event was particularly significant in that it represented the first-ever grain pyramid in the South-west and also the first time the Rice Farmers Association of Nigeria (RIFAN)-CBN paddy pyramid unveiling activity was held in the region.

He expressed confidence that the pyramid project will generate the required momentum to catalyse rice cultivation in the region and provide a sustainable source of paddy for the numerous

rice mills springing up in the South-west and environs.

He added that these symbolic events reinforced the CBN's belief in the potential in Nigerian agriculture sector, and the need for more private sector investment in the value chain.

"We believe significant improvements in domestic production of staple food items would help in attaining our price stability goals while reducing our dependence on imported food items," Emefiele added.

He stated that the sustainability of current efforts in agricultural production could only be guaranteed if the youths are attracted to agriculture.

According to him, the youths have the talent, energy, enthusiasm, technological adoption capacity and all the right drive to revolutionise agricultural production in the country.

He said: "We must meet them half-way to ensure that we provide the enabling environment to make agriculture attractive to them."

He said the CBN was ready to support youths willing to engage in agriculture as the sector offered significant benefits for them.

He said the bank had put in place measures to improve access to credit for youths interested in agriculture under the ABP and the Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS).

Emefiele stated that from inception to date, the CBN has financed 3,107,890 farmers for the cultivation of 3,801,397 hectares across 21 commodities through 23 Participating Financial Institutions (PFIs) in the 36 States of the federation and the FCT. He said the implementation of the ABP like any other smallholder financing programme had been challenging due to factors, including the country's landholding system, prolonged poor productivity per hectare, poor adoption of modern agronomic practices, lack of adequate mechanisation support services, post-harvest losses among others.

He said the CBN had continuously improved on its learning experiences and now could effectively tackle the challenges with proper planning, timely execution of plans and synergy among all stakeholders.

He said: "We have added several layers of control to

improve on transparency and accountability among all stakeholders, and what you are witnessing today is a demonstration of our growth and a strong indication of the enormous potential in the country’s agricultural space.

"It is important to note that we are still a far cry away from achieving our desired objective, but the growth process reaffirms our belief in the potential inherent in our agricultural sector."

The governors took their turns to praise Emefiele whom they described as focused in this efforts to reposition the sector.

Fayemi said one thing that could not be taken from President Muhammadu Buhari was the fact that he put agriculture at the centre of his administration.

He said imports from Thailand had dropped by over 90 per cent because of the CBN- ABP. While urging farmers in the state to embrace the ABP, he said the CBN interventions had helped to reduce poverty in the country.

Akeredolu said but for the CBN governor's passion and selfless initiatives, little or nothing would have been achieved in agriculture.

EKITI RICE PYRAMID...

L-R: Jigawa State Governor, Mr. Mohammed Abubakar; Kebbi State Governor, Senator Atiku Bagudu; Ekiti State Governor, Dr. Kayode Fayemi; Governor, Central Bank of Nigeria, Mr. Godwin Emefiele; Osun State Governor, Mr. Gboyega Oyetola; and Ondo State Governor, Chief Rotimi Akeredolu (SAN), at the launch of the Ekiti Rice Pyramid Project and inauguration of the 2021 wet season rice cultivation in Ado-Ekiti…yesterday

Malami: Financial Autonomy for State Legislatures, Judiciaries Non-negotiable CJN begs judiciary workers to end strike Alex Enumah in Abuja The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has stated that the constitutional provision in Section 121(3) guaranteeing financial autonomy for the judiciary and legislature at the state level is a non-negotiable right exercisable by both arms of government.

Malami faulted the arguments that queried the constitutionality of the Executive Order 10 issued

by President Muhammadu Buhari to further the implementation of the provision of Section 121(3), contending that the presidential initiative was “designed and intended to give enforcement

spirit to the autonomy provision.”

He said governors were not averse to enforcement of the constitutional provision on financial autonomy for state legislature and judiciary.

The minister stated that the seeming disagreement was in relation to the modality to be adopted in its application, which was currently being worked out in the series of engagements that are being held.

Malami, who spoke yesterday while featuring on a live television programme, said: “Generally speaking, the operation, application and enforcement of laws are a process. With particular regard to the executive order, you have to take into account the

antecedence. One, there exists a constitutional amendment, with particular regard to Section121 (3) of the Constitution that initiated the process.

“In addition to the constitutional amendment, we equally have in place, the Executive Order 10, signed by the President. Which, in effect, is designed and intended to give enforcement spirit to the autonomy as contained in Section 121(3).

“Arising therefrom, there were contentions, particularly on the part of the governors as to the application and operation of the provision of Section 121(3) and the Executive Order. And you have, in that respect, an implementation

committee, among others. On the side of the implementation committee, there have been series of engagements, which are ongoing. I think, as a process, we are evolving.

“Nobody is contending about the constitutional amendment having been in place. Nobody is equally contending about the need for the Executive Order.

“Nobody is contenting about the fact that there exists the political will on the part of the executive, in particular, the president, about the implementation of the autonomy of the judiciary and the legislature. But then, perhaps, the limited engagement is about the modalities.

“So, against the background of these processes that are unfolding, I think the process is indeed, evolving and we are certainly getting there.

“At the end of the day, the executive order has been in place, the legislative processes associated with its implementation are in place, and I think the engagement is a product of such a process that will eventually see to the implementation, enforcement and application of the executive order.”

On whether the financial autonomy provisions could be successfully implemented at the state level under a federal system of government, Malami insisted that there was no excuse to escape

its implementation at the state level because an example already exists at the federal level.

CJN Begs Judiciary Workers to End Strike The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, has urged judicial workers to end the over 40 days’ strike in "the interest of the nation.

Justice Muhammad has urged Judiciary workers in the country to end the over 40 days’ strike in "the interest of the nation.

Justice Muhammad appealed to the striking workers to reason with other stakeholders and end the industrial action.

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NPO, BON Honour Deceased Media Industry Leaders Friday Emmanuel Addeh in Abuja The Nigerian Press Organisation, consisting of the Newspaper Proprietors Association of Nigeria (NPAN), Nigerian Guild of Editors (NGE), and Nigeria Union of Journalists (NUJ); and the Broadcasting Organisations of Nigeria (BON) will on Friday honour fallen media leaders in Lagos.

Tagged: “An Afternoon of Tributes,” the programme, which will be hosted by the President, NPO and NPAN, Mallam Kabiru Yusuf, is expected to hold at the MUSON Centre in Lagos.

The keynote address will be presented by the Vice President, Prof. Yemi Osinbajo, and will witness current media managers pay tributes to their colleagues who have passed on in the last year.

Those to be honoured include a former Governor of Lagos State and pioneer NGE and NPAN President, Alhaji Lateef Jakande; former Minister of Information and Culture and ex-President and SecretaryGeneral of NGE, Prince Tony Momoh; and Life Patron, NPAN, Mallam Ismaila Isa. Other deceased media leaders

to be honoured are a former Director-General of the Federal Radio Corporation of Nigeria (FRCN) and Executive Director, Voice of Nigeria (VON), Mr. Ben Egbuna; late publisher, Leadership Newspapers, Mr. Sam Nda-Isaiah; as well as ex-publisher, New Nation and former Editor, Sunday Times, Mr. Gbolabo Ogunsanwo.

The event will also witness tributes to former General Manager, Lagos State Broadcasting Corporation (LSBC) and columnist, Mr. Bisi Lawrence; former Editor, Daily Express, Mr. Eddie Aderinokun;

and a past President, NGE and former Managing Director and Chairman News Agency of Nigeria (NAN), Mallam Wada Maida.

Jakande was born in the Epetedo area of Lagos Island, Lagos State on 29 July 1929 and began a career in journalism first with the Daily Service and then in 1953 joined the Nigerian Tribune.

In 1956 he was appointed Editor-in-Chief of the Tribune by the owner, Chief Obafemi Awolowo. He later published The Lagos News and served as the first president of NPAN.

Jakande died in Lagos on the 11 of February 2021 and his remains were interred at the Vaults and Gardens Cemetery, Ikoyi, Lagos State on Friday 12th February 2021.

Momoh started his journalism career as a subeditor at the Daily Times in October 1962, rising steadily through the ranks to become editor and deputy general manager between June 1976 and May 1980.

Egbuna was the pioneer executive director, news, VON and a former DG, FRCN as well as being a former President,

African Union of Broadcasting (AUB).

Isa, born in Funtua in January 1942, was a member of the 1994 Constitutional Conference under General Sani Abacha and founder of Funtua Textiles Limited and later managing director of the Democrat Newspaper.

He was also the founder and Chairman of Bullet Construction Company, one of the largest indigenous construction companies in Nigeria, responsible for building several federal buildings.

capital development and COVlD -19 response efforts. ''A summary of some key projects in each of the six geopolitical zones and a summary on the expected impacts on the socio-economic development of each of the six geo-political zones are attached herewith as Annex II and III. Given the importance attached to the timely delivery of the projects listed in the proposed borrowing plan and the benefits both the federal and state governments stand to gain from the implementation of same, I hereby wish to request for the kind consideration and concurrent approval of the House for 2018 2020 federal government external borrowing (rolling) plan to enable the projects to become effective.''

the loan would be tied to and the institutions the government intended to borrow from.

However, some others believed that the current move to borrow externally would enhance the country’s foreign reserves and stabilise the value of the naira.

One of those who felt that the federal government should jettison the idea of accessing fresh foreign loan at this period is a professor of Economics and Public Policy at the University of Uyo, Akwa Ibom, Prof. Akpan Ekpo.

Ekpo told THISDAY yesterday that he was worried that the current move by the federal government would worsen Nigeria’s public debt management and subject future generations to financial bondage.

He advised the government to surgically reduce the bloated cost of governance in the country, warning that the government should be more concerned with its debt to revenue ratio as well as solvency and liquidity ratios because oil, which is its revenue base, is very shaky by depending on exogenous factors that it could not control.

Ekpo said the country’s debtservicing burden was taking almost one-third of Nigeria’s

ANALYSTS DIFFER ON BUHARI’S QUEST FOR FRESH N2.3TN EXTERNAL LOAN trillion ($6.18billion) external loan to finance part of the 2021 budget deficit of N5.6 trillion.

The president in another letter also canvassed a concurrent approval by the legislature for a total sum of $3,837,281,256, €910,000,000 and grant component of $10,000,000 for donor fund projects under the 2018-2020 federal government external borrowing rolling plan.

The two request letters, dated May 6, 2021, came a month after the Senate and the House of Representatives approved $1.5 billion and €995 million external borrowings for the federal government to finance various priority projects and to support states facing fiscal challenges.

Buhari's requests were contained in different letters addressed to the President of the Senate, Dr. Ahmad Lawan, and the House Speaker, Hon. Femi Gbajabiamila.

The letters were read at Tuesday plenary by the two presiding officers.

The president said the request for the N2.3 trillion loan to finance the 2021 budget deficit was in line with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (Establishment, Etc.) Act, 2003 (DMO Act), which states that no external loan shall be

approved or obtained by the minister unless its terms and conditions shall have been laid before the National Assembly and approved by its resolution.

According to him, the loan will enable the federal government to fund critical infrastructural projects in power, transportation, agriculture and rural development, health, education, among others.

He said the loan would be sourced from a combination of multilateral and bilateral lenders, as well as from the International Capital Market (ICM) through the issuance of Eurobonds.

According to him, from recent trends in the ICM, it is now possible for Nigeria to raise funds, and this explains why the federal government is proposing that the new external borrowing in the 2021 Appropriation Act should include issuing Eurobonds in the ICM. He estimated that Nigeria may be able to raise $3 billion or more, but not more than $6.183 billion (the amount provided in the 2021 Appropriation Act) in a combination of tenors between five-30 years.

He said the outcome would, however, be determined when Nigeria approached the market.

The letter read in part:

''The purpose of this letter is to request for a resolution of the National Assembly to raise the sum of N2,343,387,942,848.00 (about $6,183,081,643.40 at the budget exchange rate of $1.00/N379) provided as new external borrowing in the 2021 Appropriation Act (Item No. 330) to part-finance the budget deficit of N5.602 trillion. The right honourable speaker may wish to recall that the 2021 Appropriation Act provides for N4,686,775,885,696.00 as new borrowings (item No. 328) to part-finance the 2021 fiscal deficit, of which 50 per cent or N2,343,387,942,848.00 (about $6,183,081 ,643.40 at the budget exchange rate of $1.00/N379) is specified as new external borrowing. ''The Senate President and right honourable Speaker may also wish to note that the allocation of N2.343 trillion to new external borrowing in 2021 Appropriation Act is consistent with Nigeria’s debt management strategy, which seeks amongst other objectives, to moderate 'debt service costs by accessing relatively cheaper external funds, and free-up space in the domestic market for other borrowers."

For concurrent approval of donor fund projects, the president, in the second letter,

said the projects would be financed through sovereign loans from the World Bank, African Development Bank (AfDB), French Development Agency (AFD), Islamic Development Bank, China Eximbank, China Development Bank, European Investment Bank, European ECA, KfW, IPEX, AFC, India EximBank and lnternational Fund for Agricultural Development (IFAD).

Buhari explained that the projects and programmes in the borrowing plan were selected based on positive, technical and economic evaluations as well as the contributions they would make to the socio-economic development of the country, including employment generation and poverty reduction.

The letter reads: ''Senate President and the right honourable Speaker may also wish to know that all the listed projects form part of the 2018 2020 external borrowing plan and covered both the federal and state governments’ projects and are geared towards the realisation of the Nigeria Economic Sustainability Plan that cut across key sectors such as infrastructure, health, agriculture and food security, energy, education and human

Analysts Differ over Borrowing Request Some of the economic experts who spoke to THISDAY yesterday warned that the current bid to accumulate more public debts would mortgage the future of the country and its future generations.

They were also worried that the current move is not being done in a transparent manner that would enable Nigerians to know the specific projects

Continued on page 58

IG LAUNCHES ‘OPERATION RESTORE PEACE’ IN SOUTH-EAST Commission (INEC) in Enugu State was attacked and property burnt by yet-to-be-identified hoodlums.

Also yesterday, President Muhammadu Buhari said without security, economic opportunity would remain fragile and the propensity for conflict would grow, adding that military gains do not provide the whole solution.

Alkali, at the launch of the operation in Enugu, charged policemen serving in the Southeast region to deal ruthlessly with criminals and secessionists that may attempt to take the risk of testing their will.

He urged policemen to be firm with criminals that may be threatening citizens within their area of jurisdiction.

The IG advised police personnel participating in the special operation to see their deployment as a call to national duty.

According to him, “The police leadership and the entire nation are looking out for two major outcomes as you discharge your duties during this operation: first, to stabilise the security order in the South-east in the shortest possible time; second, to be professional in your conduct as you strive to attain this objective.”

The IG advised the policemen to be civil with law-abiding citizens, respect the rights of the citizens and undertake the operation within the dictates of rule of law.

He, however, charged them to defend themselves against

any armed group that might attempt to attack them, or any police assets and other critical national infrastructure.

He described the people of South-east as historically peaceful, tolerant, innovative, industrious and entrepreneurial, who are highly respected citizens that have made their marks in the field of academics, scientific inventions and commerce.

He, however, lamented that although the Igbo are a unique ethnic group that freely and peacefully lives with others across the country and within the South-east, the events of late had altered the positive narrative.

He said: “The zone in recent years has been witnessing increasing cases of kidnapping, armed robbery and communal violence. This trend has of late been laced with inter-ethnic intolerance and separatist agitation as championed by the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN).

“The separatist agenda of this group has assumed an armed dimension in which important political and community leaders as well as personnel and assets of the Nigeria police, military and other security agencies are being constantly targeted in clearly well-coordinated, premeditated violent attacks in the region.”

According to him, the launch of ‘Operation RP’ was conceptualised to ensure that “we should as a people, be determined to build a consensus, partner in condemning any

act of criminality and resolve to work with the police and other security agencies towards identifying, isolating and bringing the criminal elements within our communities to deserved justice."

He added: “There must come a time in the life of a nation when we, as a people, must strengthen our will, and resolve to mobilise and deploy all our assets towards confronting these criminal elements, take the battle to their doorsteps, and make a clear statement that the few deviants within us cannot and will not re-order our cherished national values.

The time is now.”

Enugu State Governor, Hon. Ifeanyi Ugwuanyi, expressed optimism that the operation would lead to the retooling of security architecture in the South-east.

He said: "Today's event could not have come at a better time than now giving the point of insecurity in the country. In the past week, we have been saddened by the spate of killings of security operatives in their line of duty and destruction of security infrastructure and other public institutions in Nigeria, especially in the South-east.

"It is our expectations that today's event will herald the rejigging and retooling of international security architecture in the South-east geopolitical zone to bring it up to speed with an emerging dimension of criminality."

Insecurity Grows

Propensity for Conflict President Muhammadu Buhari yesterday warned that without security, economic opportunity will remain fragile and the propensity for conflict will grow.

He also said that because of the post-COVID-19 pandemic, Nigeria and France must seize the chance to strengthen its economic and military ties.

Buhari stated this in an article entitled: ‘Post-COVID-19 Pandemic, Nigeria and France Must Seize the Chance to Strengthen Military and Economic Ties,’ published yesterday by a Paris-based magazine, Le Point.

He said across the world, conflict and coronavirus had not been far apart and the war against the coronavirus was one Nigeria was fully united with France in a strong determination to overcome.

The solution, according to him, therefore, is to improve those conditions, as it leaves the people vulnerable to indoctrination.

He said: ''As governments have struggled to contain COVID-19, jihadists have taken advantage in the Sahel – the vast arid stretch of territory that lies between the Sahara and Sub-Saharan Africa.

"Terrorist incidents have become tragically common across Mali, Burkina Faso and Niger. Around the Lake Chad Basin, Boko Haram terrorists have taken advantage of the pandemic and pushed back into

my country Nigeria, whilst still launching raids and attacks in Chad, Cameroon and Niger. ''We have seen more than once how Boko Haram – which in French means “l'éducation Occidentale est un péché” - can regroup, morphing in form and tactics. A matter of only a few years ago, they were reduced to a territory-less group, where once they had controlled an area in Nigeria three times the size of Lebanon.”

The president said as the world emerges from COVID-19, there is a chance to rebuild.

"Though we always knew it, COVID-19 underlined how interconnected and interdependent the world is.

With that shattering reminder, we can create a world with the idea at its forefront – one that provides security and opportunity for all,'' he said.

Buhari stated that the infection is spreading further afield and reaching into the heart of Europe and France is not being spared the malignant, with innocents murdered on its streets.

Saying in that context fate is generally linked, the president highlighted that Paris had been active in the common fight.

He said: “The French Operation Barkhane has provided critical boots on the ground in shoring up security across our region. Though challenges remain, it has ensured a wide expanse of territory has not descended into a lawless playground where terrorists masquerading as fighting for Islam groups can freely flourish

and multiply. That assistance has been profoundly appreciated in the region. ''Now Nigeria and France should deepen our anti-terror cooperation if we are to overcome this scourge – particularly in the aftermath of the murder of the late President of Chad. Where for historical ties, support came to Nigeria from the UK, and to the G5 from France, the terrorists do not recognise these borderaligned distinctions. We must be agile and flexible, cooperating across our borders to cut the head off their groups.''

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COMMENT

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

AHMAD LAWAN’S RIGHT OF OPINION Ola Awoniyi argues that the senate president has the right to express his views

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here are as many opinions as there are Nigerians on how to address the challenges our country currently faces. That is not a problem in a democracy, every citizen has a right to express their view when the nation debates the way forward. And it does not matter whether the view conflicts or agrees with the popular or dominant view, or whether the citizen expresses it from a high or lowly position.

However, some citizens tend to find it very difficult to concede this right to others whose views happen to be different from their own on issues of importance to all. And some of these people profess to be democrats. Amazing!

Last Thursday, rising from Eid prayers at the end of the Muslim month of Ramadan, the Senate President, Ahmad Ibrahim Lawan, was asked of his opinion on a topical national issue. This was at the forecourt of the Presidential Villa where he had joined President Muhammadu Buhari and other Muslim faithful in the prayers. Not one to play to the gallery, he spoke candidly and from the depth of his heart.

Then, suddenly, there was an outburst of mysterious anger.

Lawan ought not to talk the way he did, they chorused. This piece is not to defend the comments made by the senator. He has the brainpower and energy to defend his point of view on any issue. Those who knew him even before he became the Senate President would attest that he loves a good debate.

Instead, what this piece is defending is Lawan’s right to hold and express an opinion on public issues, more so, issues that affect the future of his country. That right cannot be abridged for the Senate President or any citizen.

As I have said, Lawan is not one to shy away from expressing himself on any national issue no matter how controversial the issue is. He does not talk when he has nothing to say but he will not be cowed into silence when he has something to say. Since he became the Senate President, he has not left his position on critical issues to conjecture.

He has always stated his position clearly. More importantly, whatever he says always reflect his personal conviction and the position of the people he represents. And he does not begrudge anyone for holding a view contrary to his own. He realizes that, as the Yoruba would say, we cannot all sleep and lay our heads in the same direction.

So why vilify Lawan for holding a position and expressing it on issues of national concern?

Some have argued that as Senate President, Lawan should

LAWAN HAS RIGHT TO HOLD AND EXPRESS AN OPINION ON PUBLIC ISSUES, MORE SO, ISSUES THAT AFFECT THE FUTURE OF HIS COUNTRY. THAT RIGHT CANNOT BE ABRIDGED FOR THE SENATE PRESIDENT OR ANY CITIZEN

have maintained sealed lips or feign neutrality on burning and sensitive issues such as he was asked by journalists to speak on last week. My take on this is that being a presiding officer in the Senate does not make one deaf and dumb.

Democracy is not impaired by leaders speaking their mind.

A leader who always sit on the fence or give the impression of neutrality on critical issues of common concern is only engaged in a game of chicanery. As one of the most experienced lawmakers in Nigeria today, Lawan understands that he cannot impose his views on distinguished senators on any matter, at the plenary or wherever. The ninth Senate is populated by elder statesmen, former governors and accomplished leaders who have made their marks in their various fields. Lawan knows the responsibilities and limitations of his status as first among equals and that is the reason he has been enjoying the support and cooperation of his colleagues. He understands what it takes to lead the august chamber.

Some of his more ridiculous traducers have even said the views he expressed on Thursday further confirm that he is a “rubber stamp” Senate President. Just because he holds a contrary view to their own! How ridiculous.

Lawan has been consistent on the content of the Legislative Agenda of the Ninth Senate - to work for Nigeria, rather than to engage in needless confrontation with the Executive.

And this has paid off in many ways considering the many quality bills passed by the Senate within two years. Lawan is firm in his conviction that a cat and mouse relationship between arms of government will yield the polity only constant strife. Lawan will not pick a fight with anyone just to satiate some people’s hunger for endless political rancour.

That is not what Nigeria needs and that is not what the Ninth Senate has in its agenda.

Finally, Lawan has been preaching synergy, unity of purpose and common focus on addressing the challenges we all love to solve. He believes that this requires leaders at all levels of government to come together to work out the way forward, instead of shifting and trading blame on who is responsible for our predicaments. Leaders are supposed to be problem solvers, and Nigeria’s current political, security and economic challenges require solutions at all levels of government.

Awoniyi is the Special Adviser on Media to the Senate President

ON ASABA ACCORD WE STAND The Asaba declaration is in order, writes Sonnie Ekwowusi

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e live in perilous times.

Like the proverbial rudderless vessel, Nigeria is dangerously drifting into the precipice with the ship’s captain and crew members completely ignorant and helpless.

Anybody still finding it difficult to come to terms with this analogy in relation to Nigeria is living in a fool’s paradise. Nigeria is at war: she is at war with herself, with her different ethnic nationalities, stakeholders and interest groups which make up the country. The bullets may not be flying and crisscrossing here and there quite alright but the bandits, Islamic terrorists, Fulani herdsmen murderers, anonymous gun-men, arsonists, burglars have a far-reaching inroad into the heart of the Nigerian state and is about capturing her in order to destroy her, reminiscent of Karl Maier’s This House Has Fallen or Robert D. Kaplan’s The Coming Anarchy.

The consolation however is that we have reached a point of no return in our efforts to build a new Nigeria where cluelessness, dementia, illiteracy, incompetence, provincialism and nepotism will have no place. We have arrived at a unique time in the history of our country when it is fashionable to look at one another’s face and spill out the truth.

We are no longer held captive by untruth about Nigeria and her survival. Consequently some uncommon formidable political fronts and political alignments are emerging day-byday to salvage sinking Nigeria. For example, last week the Southern State Governors met in Asaba under the aegis of the Southern Governors’ Forum (SGF) and unanimously agreed, inter alia, to formally place a ban on open cattle grazing in all the Southern states of Nigeria (this is coming on the heels of Nigeria Governors’ Forum banning of open grazing). In February 2021 the governors

representing the 36 states of the federation met and unanimously banned open grazing in Nigeria.

The SGF also called for the restructuring of Nigeria and the inauguration of true fiscal federalism. But former Executive Secretary of National Health Insurance Scheme (NHIS), Prof. Usman Yusuf complains that the Southern Governors did not consult the Fulani herdsmen before enacting anti-gazing law. He stated that none of the Southern Governors has sat down with the Fulani people to discuss anti-grazing before suddenly jumping up to enact the anti-grazing law. I have carefully considered the objection of Prof Yusuf in paripassu with the extant laws in the 36 States of the Federation and I must state quite frankly Prof. Yusuf’s objection completely lacks merit.

To begin with, the Southern Governors are not under any legal obligation to consult the Fulani-herdsmen prior to enacting anti-gazing or any laws at all in their respective states.

Prof. Yusuf is well aware that for five years now the AK-47-wielding Fulani herdsmen have been killing, maiming, and raping their victims in Southern Nigeria as well as dispossessing them of their farm lands under the watch of the Buhari government. This is why the Southern governors have enacted the anti-grazing laws to protect their citizens from the terrorism and criminal activities of the Fulani herdsmen. Besides, by virtue of the Land Use Act, all lands in Southern Nigeria are vested in the Southern state governors and not in Fulani herdsmen. Only the Southern governors could, swayed by overriding public interest, dictate whether or not an open grazing could be allowed in their respective states. It is worthy of note that prior to Buhari’s coming to power, the Fulani herdsmen rearing cattle in Southern Nigeria were not armed with AK-47 guns let alone raping and murdering people. Before Buhari, they were carrying long sticks. Unfortunately

since Buhari came to power, these Fulani herdsmen rearing cattle in the South have started carrying guns and indulging in all sorts of criminal activities.

Hearkening to the voices of about 90% of Nigerians, the Southern governors reaffirmed in Asaba last week that Nigeria’s top priority at this moment ought to be restructuring of Nigeria in order to enthrone for justice, equity and fairness in the country. But the Senate President Dr. Ahmad Lawan has faulted the Southern governors calling for restructuring of Nigeria. He says that although the people may call for restructuring, Southern state governors are disallowed from doing so. I beg your pardon, Mr. Senate President. Is that an oxymoron? What is wrong with state governors re-echoing the voice of their people and reaffirming the call for restructuring of Nigeria? If democracy is government of the people by the people, why disallow Southern state governors from speaking the mind of the Nigerian people? If state governors are barred from listening to their people who should they listen to? Listen to Mr. Clueless? Listen to Mr. Nepotism? Mr. Senate President Sir, given the over-concentration of power at the federal level to the detriment of the federating units, the state governors cannot restructure their respective states as you are suggesting. Why? Because the 1999 Constitution is an inconvenient inequitable constitutional contraption being used to perpetuate injustices in Nigeria. The constitution over-concentrates enormous power (as could be gleaned from the long list of federal powers in the Exclusive List of the Constitution) in the hands of the federal government thus leaving the federating units at the mercy of the federal government or as appendages.

This is the main reason for the consistent clamour for restructuring of Nigeria.

Mr. Senate President Sir, it is important to understand all the ethnic nationalities

across the six geo-political groups in Nigeria beginning with Pan-Yoruba socio-cultural group, Afenifere, Pan-Igbo socio-cultural group, Ohaneze Ndigbo, Middle Belt Forum, Pan-Niger Delta Forum (PANDEF) to Arewa Consultative Forum are calling for restructuring. In fact, if a referendum is conducted today on whether or not Nigeria should be restructured I wager that not less than 89% of Nigerians would vote in favour of restructuring. So, why fault the state governors for voicing the will of their people? Restructuring is not secession. In fact restructuring is a cure for secession. If you don’t want Biafra, Oduduwa Republic or Mid-West country or others, then allow restructuring of Nigeria so that justice, equity and fairness may reign.

A skewed power arrangement in favour of the federal government has been resulting in communal injustices in Nigeria. In fact the Nigerian crisis is the crisis of failed federalism.

On Asaba accord we stand. A thoughtful reader cannot fail to be struck by the groping in darkness in Nigeria over the years. So let the light shine. And the light can only shine when the country is restructured in such a way as to restore regional autonomy to the various regions to enable them to freely chart courses to growth and development of their respective regions. Anything short of this is unacceptable. Those casting hope on 2023 Presidential election should be reminded that so long as INEC is headed by Prof. Mahmood Yakubu and the Supreme Court headed by Justice Ibrahim Tanko Muhammad it is not unlikely that another Mr. Nepotism will be imposed on Nigerians in 2023. Already the APC is boasting that it will rule Nigeria for 32 years. I don’t think this is a joke. It is their dream. With the people’s complacency and reluctance to fight their battles the worst citizens may continue ruling Nigeria for a long time.

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EDITORIAL MDAS AND COST OF GOVERNANCE It’s time to eliminate waste in the public sector

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t a policy dialogue organised by the Independent Corrupt Practices Commission (ICPC) last week, the Minister of Finance, Budget and National Planning, Zainab Ahmed, requested the assistance of the anti-graft body in slashing the cost of governance in the public sector. Ahmed said she will work with other relevant agencies of government to cut down on unnecessary expenditures so that limited resources can be used for important projects. The ICPC Chairman, Bolaji Owasanoye, said that the high cost of governance was fuelled partially by corruption, incompetence and waste in governance structure and processes.

The worrying cost of governance despite dwindling revenue, particularly under the present administration, was graphically laid out by the Director-General of the Budget Office, Mr. Ben Akabueze. The nation spends more than it generates to sustain civil servants and public officials.

Akabueze said the cost of governance rose sharply from N3.61 trillion in 2015 to N5.26trn in 2018 and N7.91trn in 2020. Personnel costs alone accounted for 40 per cent of AT A PERIOD WHEN THE HIGH recurrent spending COST OF GOVERNANCE IS in 2020. In 2016, FORCING THE GOVERNMENT personnel cost was N1.88 trillion, TO BORROW MONEY TO FINANCE BUDGET DEFICITS, but now over N3 WE NEED MORE THAN THE trillion. “Recurrent spending accounted USUAL PREACHMENTS for more than 75 per cent of actual MDA expenditures between 2011 and 2020”, said Akabueze. “There have been persistent calls for reduction of governance cost in Nigeria in view of the impact on governmental fiscal situation. The current system is clearly unsustainable.”

Nigeria is currently indebted to the tune of N31 trillion and still on the borrowing binge. But the cost of servicing the loans is taking a huge toll on the economy. Unfortunately, the high cost of governance was partly triggered by lack of planning. The creation of five new ministries

Letters to the Editor

in President Muhammadu Buhari’s second term raised hugely the size of recurrent expenditure to the detriment of capital expenditure in annual national budgets. Besides, the MDAs are bloated.

Government has continued to pay lip service to the Steve Oronsaye Report which recommended the merger of departments and agencies to avoid unnecessary duplication.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

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

NLC’S WARNING STRIKE AND THE KADUNA CONUNDRUM

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igerian Labour Congress (NLC) five-day warning strike in Kaduna commenced on Monday, May 17, 2021. it was a good outing for labour and its supporters. Labour was able to rally-round all its affiliates and also drew support from many residents of Kaduna.

NLC’s action was meant to compel Governor Nasir El-Rufai to reverse the recent mass sack of civil servants. NLC said Mallam Nasir el-Rufai has retrenched 6000 workers. It also claimed that the government has not paid April salaries for some 20,000 workers. This convinced other labor unions to join the warning strike; at least 14 affiliated unions of the NLC joined the strike, which started from the NLC secretariat in Kaduna at 7am. They chanted solidarity songs, and displayed placards with various inscriptions.

Many Kaduna residents supported NLC because they believe Mallam is killing small businesses and destroying markets, corner shops and houses without providing quick alternatives and listening ears. The Kaduna State government said it is retrenching workers based on redundancy, sickness, disciplinary matters and on grounds of age. And that 90% of Kaduna’s FAAC allocation goes to the workers. And, that its infrastructure development is an urban renewal project. These are valid points.

arlier in the month, BudgIT, a civic organisation which advocates transparency and accountability, disclosed that its investigations into the 2021 budget revealed at least 316 duplicated capital projects worth N39.5 billion. One hundred and fifteen of such capital projects occurred in the Federal Ministry of Health. Besides, BudgIT said that some MDAs received allocations for capital projects they could not execute. For instance, the Federal College of Forestry in Ibadan in Oyo State reportedly got N50 million for the construction of streetlights in Edo State. The audit report for 2016 recently released by the Office of the Auditor General for the Federation is very instructive. The number of government agencies that have failed to subject themselves to scrutiny under the present administration has doubled.

We are worried that while government revenue continues to dwindle, there is no conscious effort to cut down expenditure on the recurrent side either by the federal government or by the states.

In the states, governors are still living large, appointing hundreds of special assistants with no specific job functions. It is unacceptable that amid a debilitating revenue squeeze, governments at all levels have continued to revel in financial recklessness. Why should the Federal Executive Council (FEC) continue to preside over the award of contracts when the Bureau of Public Procurement (BPP) Board should have been constituted to play its statutory role?

Last week, Ahmed harped on the need to cut down on unnecessary expenditures. But at a period when the high cost of governance is forcing the government to borrow money to finance budget deficits, we need more than the usual preachments. It is time to trim waste and eliminate corruption in the public sector.

Day one of the NLC strike was a success- They shut down electricity, water, banks, motor parks, filling stations, government and private offices, all supermarkets and markets- but the common people have suffered. Kaduna’s two- trillion naira economy was hit by the strike and billions of naira have been lost to the grounding of businesses in the state.

Subsequent days may be hard for Kaduna people- especially city dwellers if a truce is not reached. Though, Governor El-Rufa’I has remained defiant, saying that the Kaduna State government “affirms that the conditions that compel it to right-size are not altered by the NLC’s campaign of economic and social sabotage.”

On the other hand, Kaduna State has never witnessed massive infrastructure development like is being done now under Governor El-Rufai. However, The irony is, come 2023, despite the massive development, many residents of Kaduna would be wary of whoever is presented by Gov. El-Rufai as a governorship candidate. The candidate will simply be on the defensive, while the opposition would be on a solid offensive. The point of debate would be: ‘The masses were not in the equation of the massive infrastructure development’. Only time will tell as political trend is always changing.

Zayyad I. Muhammad, Abuja

AS LABOUR TACKLES EL-RUFAI...

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he Nigerian labour Congress (NLC) has started a five-day warning strike over massive retrenchment of civil servants in Kaduna State in the last six years. It is estimated that since the time he assumed office to date, Governor Nasir El-Rufai in a bid to reform the state public service has succeeded in laying off about 60,000 staff. In 2017, El-Rufai began his retrenchment policies with the sacking of over 25,000 primary school teachers believed to have failed an aptitude test. This was followed by another set of local government staff and traditional rulers in their thousands. You may wish to know that the over 50,000 staff who were axed by the state government in 2017 have not yet received their severance benefits when El Rufai struck again and wielded the big stick on 4000 local government staff last month.

In an interview, Governor El-Rufai says if the state government pays salaries from its monthly federal allocation, the balance won’t be enough to provide basic infrastructural development to over five million people. This analysis proves justifiable. However, El-Rufai was quoted to have said that under his watch the state’s dwindling internally generated revenue has reached an appreciable level.

The governor said the state can now boast of up to 50bn internally generated revenue annually. This sounds good. But unless the state governor is clever by half, the state can use the internally generated revenue to fund its infrastructural development. The governor’s retrenchment policies have also come at a wrong time when the state is grappling with myriad insecurity challenges such as banditry and kidnapping. By throwing thousands of workers from the state’s payroll, El-Rufai is indirectly inviting more insecurity to the state.

Ibrahim Mustapha, Pambegua, Kaduna State

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MIDWEEKPOLITICS

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

Understanding Umahi’s Promised Year of Rest and ‘Stomach Infrastructure’ Benjamin Nworie writes that Governor David Umahi of Ebonyi State plans to take a break from work in 2022, while declaring a season of merriment

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rom the biblical account of creation, the seventh day was dedicated to rest and so Ebonyi State Governor has declared 2022 as his own year of rest and relaxation. By 2022, the administration of Umahi will clock seven years. He expects at that time that all his social and financial investments would have yielded bountiful interests. Many of his critics may then praise him for the wisdom in some of the projects he embarked on. Those who said “bad” may definitely praise the governor for his generosity. Many things are expected to happen that year. One, the next governor who will succeed Umahi will be determined.

Two, political activities will rev up.

These two are principal issues that the governor must pay attention to.

It would also be the year of merriments and massive attention to “stomach infrastructure”. Many people may have been “disappointed” with the governor expends the commonwealth. But, at many fora, Umahi has maintained that he will commit every “kobo” of Ebonyi resources to the development of the state. This approach, however, has not gone down well with some stakeholders who believe that part of the allocation should be shared like it was in previous administrations when funds were diverted by some state actors.

Even the governor may not be completely unaware that some stakeholders even in his government grumble about his tight-fisted disposition .

Which is why the governor warned that he will sack any of appointee that “gossips” about him. Umahi is deeply committed to the development of infrastructure in the state and he knows that the only way to achieve such feat is to block all the loopholes where monies were hitherto sneaked out of the state treasury.

Ebonyi is at the bottom of federal allocation and it is also rakes in the least internally generated revenue.

This means that for any development to take place, prudence and uncommon courage and boldness must be exerted. The blockage of financial loopholes and Treasury Single Account have remained pivotal to the success story of the Umahi administration.

To say the obvious, the governor is in charge of all the monies that comes to the state coffers. Those who feel that coming to government was to “chop” money are disappointed. Off course, this has triggered a lot of side talk, prompting the governor to announce a policy “gossip and get sacked” to his appointees. Some people may feel it was wickedness that monies are not shared but the state has many projects and a commendable new look to justify the prudent and accountability in the disbursement of funds.

To ensure accountability, the governor noted that he has documentated all expenditures since 2015 and he will be ready at any point in time to clear himself if called to account on any project when the need arises.

The major issue now in Ebonyi is whether all monies should be shared among prominent stakeholders in politics or committed to development of infrastructure. Since assumption of office, Umahi has turned all the nooks and crannies of Ebonyi State to a construction site. The projects are capital intensive. Many projects have been duly completed and in use while others are still ongoing. The completion of the ongoing projects

Umahi

is the main focus of the governor, especially as he has given assurance on the completion of all his projects, with exception of the dualization of the Abakaliki/Enugu Expressway and Abakaliki/Afikpo Expressway.

However, many people still feel that the governor has surpassed expectations and really needs to rest and see how he will put more food on the table of Ebonyi people. The development of infrastructure development, they say, has naturally taken care of itself and the issue of “stomach infrastructure” should be the focus of Umahi’s administration in 2022. What is so special about 2022, Umahi’s promised Year of Stomach Infrastructure? What else should Ebonyi people expect when the governor must have settled down to rest and merry after seven years of practical, fruitful and active service to the state? What is Umahi’s expecta-

tions from Ebonyi people in the year of merriment?

These issues were addressed during a recent stakeholders meeting convened by the governor for all clans in the state. It was also a meeting to account of his stewardship to the people. He gave an account of how his administration has fared so far and how he has governed with the fear of God, justice and fairness to all.

The issue of insecurity was a major destabilizing factor to the goals and target of the Umahi’s government.

Another issue of concern was the barrage of social media attacks against the Governor.

Umahi claimed that he has maintained an even spread of appointment opportunities to all sections and clan, including opposition parties. The issue of insecurity was a plague that almost rubbished the long-held reputation of

The development of infrastructure development, they say, has naturally taken care of itself and the issue of “stomach infrastructure” should be the focus of Umahi’s administration in 2022. What is so special about 2022, Umahi’s promised Year of Stomach Infrastructure? What else should Ebonyi people expect when the governor must have settled down to rest and merry after seven years of practical, fruitful and active service to the state? What is Umahi’s expectations from Ebonyi people in the year of merriment? These issues were addressed during a recent stakeholders meeting convened by the governor for all clans in the state. It was also a meeting to account of his stewardship to the people

Ebonyi as a peaceful state. Though, Ebonyi State had recorded pockets of communal land disputes, it never degenerated to the level of insecurity witnessed in recent times. It may be argued that this is not peculiar to Ebonyi State, but how Ebonyi became a notorious centre of banditry is still a big mystery to a lot of people. Incidents of car theft and other forms of crimes are reported everywhere.

These were some of the urgent concerns raised by the governor during the stakeholders’ meeting. Many stakeholders used the occasion to commend the governor for his achievements, while pledging their loyalty to Umahi’s government. They all agreed to caution anyone who attacks the governor and his government in the media. They also agreed to collaborate with the traditional institution in their communities to fight bandits.

Assuming the governor really wants to dedicate 2022 as a year of rest, how is that possible? Won’t it be seen as too late? The struggle for political power may definitely distract the governor. From all indications, the 2023 general election in Ebonyi is for the titans. It will be hot. The polity has already been polarised with the exit of the governor from Peoples Democratic Party (PDP) to the All Progressives Congress (APC). Some political bigwigs from the PDP are already fine-tunning strategies to install another governor but Umahi has stressed strongly that no one or any external force can enthrone his successor. On the surface, it looks like Umahi may have his way, after all, his party is charge at the centre and he controls the political structure of the state. The 2023 governorship election in Ebonyi State is between the people of Ezza and Izzi. However, the credibility of the candidate will be a big factor to ensure victory for the political party.

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POLITICS

The Clamour for a ‘Fresh’ APC National Chairman

GOVERNANCE IN PHOTOS

Chuks Okocha writes on the need for the All Progressives’ Congress to focus on experience, character, charm and charisma in the choice of its next national chairman

Buni

T

he ruling All Progressives’ Congress (APC) is yet to set a date for its national convention to elect national officers to steer the affairs of the largest party in Africa. These officers are members of the National Working Committee (NWC), the highest decision-making organ of the party after the National convention and National Executive Committee (NEC).

Also, no word has yet come from the party on where the respective NWC officers would come from. But there is a good chance of the zoning formula coming to play.

Given the consensus that President Muhammadu Buhari’s successor in 2023 should come from the South, it is expected, naturally, that the next APC National Chairman should come from the North. And all eyes appear riveted to the North-central, a zone which hasn’t much to show for overwhelmingly supporting the party in 2015 and in 2019.

Aside zoning, APC leaders and supoorters are uncertain about what to look out for in electing a new national chairman. There are those who believe that “experience in administration” should count; that any aspirant to the office of the national chairman should have a proven record as a great administrator of men and resources.

Such an aspirant, this school of thought believes, must have held a noteworthy political office - like that of a governor or its equivalent.

On the other hand, there are those who believe that APC, a party that rode to power on the mantra of change, should break from its tradition of electing only ex-political office holders as national chairman.

They argue that no experience as a former political office holder can compare to leading a robust party like APC, adding that “fresh waters” begets fresh ideas.

They also believe that the current challenges of the party demand a contemporary approach that only the literary “fresh waters” can allow to thrive.

Proponents of this ideology are also quick to point to three successive former governors - Chiefs Bisi Akande, John Oyegun, and Comrade Adams Oshiomhole, who did their best in advancing the APC cause but could have done more.

Chief Bisi Akande was a Second Republic deputy governor. Between 1999 and 2003, he served as Governor of Osun State. Chief Oyegun was Edo State Governor in the truncated Third Republic. On his part, immediate past National Chairman Oshiomhole spent eight years as Governor of Edo State All along, the problem had been the interplay of centrifugal and centripetal political forces between the old and new “brigades” in APC. For instance, in the build-up to the 2019 general election, APC stalwarts, especially the forum of Progressive Governors led by former Imo State Governor, Rochas Okorocha,

felt that Chairman Oyegun, whom they said was amiable, deserved a tenure extension.

However, Okorocha’s position was stoutly opposed by some founding fathers of the party, who contended that the party needed a gritty character to counter the grating opposition mounted by the Peoples Democratic Party (PDP).

Thus, at the 2018 APC National Convention, tough-talking Oshiomhole was drafted to take over from Oyegun. But years later, it would emerge that the “strong man” in Oshiomhole despite his laudable achievement of successfully leading the party to the presidential poll, brought a set back to APC. The Oshiomhole Chairmanship is blamed for the party’s loss of Benue, Oyo and Zamfara states to the PDP. This was also worsened by his irreconcilable differences with the Governor of his home state Godwin Obaseki.

Edo State inevitably went the PDP way.

It is interesting that certain stakeholders, worried about the future of APC after the Buhari presidency, are demanding a break from a tradition of selecting National Chairmen fron among the pool of former governors.

Political observers are also quick to recall the history of the opposition PDP as a lesson to the ruling APC. They argued that PDP had the best of times under the leadership of non-governors. They cite the current stability PDP is enjoying under Prince Uche Secondus, who was never a governor. They also point to persons like Chief Audu Ogbeh, Prince Vincent Ogbulafor, Barnabas Gemade, and Dr. Ahmadu Ali, who were not former governors, yet led the PDP well.

On the other hand, they argued that the only time the PDP had major challenges was when the likes of Senator Ali Modu-Sherif and Ahmed Makarfi led the party as National Chairmen. They are also quick to mention the tumultuous period of former Governor Adamu Muazu of Bauchi State.

“Only foolish persons wait to learn from their own mistakes. Wise people learn from the mistakes of others. Look at the harm PDP suffered under the chairmanship of the exgovernors. Look at what ex-governors did to APC. We have to look outside of this vicious circle if the party wants to progress,” submitted Hon. Mohammed Adamu, a Nasarawabased political analyst and chieftain of the APC in the state.

Another party chieftain that believes in this school of thought is Pastor Ezekiel Alonge, a former National Financial Secretary of the defunct Congress for Progressives Change (CPC).

Alonge believes that the APC should never repeat what he described as the “mistakes of the past.”

“We shouldn’t be ashamed to admit that we made mistakes in APC. What we need at this point is to correct them. What we need at this point in APC is an amiable, cool-headed, listening administrator, with the capacity and experience to heal the party,” the APC scribe said in a recent interview in Lagos.

He continued: “We should resist the temptation of selecting people with known history of abandoning their party when it suits. We need committed persons, whose loyalty is to the APC and to the APC alone. We need men of character, not just anybody.”

“The contest this time would not be a contest of title but of ideas on how to use politics, progressives politics, to better the lot of the country. In other words, it is not about weather you are a former this or former that but about experience, about untainted loyalty and about strong political leadership that is capable of lining up behind the present and next government for national transformation.”

Whether it is next month as being speculated or later in the year, whenever the National Convention of the APC is fixed the person who emerges as the next party chair will determine whether the party will remain united or not.

Both Messrs Adamu and Alonge agree.

L-R: Chairman, Ekiti State Council of Traditional Rulers/ Alawe of Ilawe-Ekiti, Oba Adebanji Alabi; Jigawa State Governor, Mohammed Badaru Abubakar; Kebbi State Governor, Sen. Abubakar Atiku Bagudu; Ekiti State Governor, Dr Kayode Fayemi; Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele; Osun State Governor, Alhaji Gboyega Oyetola and Ondo State Governor, Arakunrin Rotimi Akeredolu (SAN); at the launch of Ekiti Rice Pyramid Project and flag off of the 2021 Wet Season Rice Cultivation in Ado-Ekiti

President of the National Assembly of Sao Tome & Principe, Hon. Delfim Santiago Das Neves (left) with the Speaker, House of Representatives Hon. Femi Gbajabiamila after a recent courtesy visit to the Speaker at the National Assembly

From left,; Commissioner for Finance Osun State, Mr Bola Oyebamiji; Special Adviser to the Governor on Budget and Economic Planning, Mr Remi Kolajo; Chief of Staff to the Governor, Dr. Charles Akinola; Deputy Governor, Mr Benedict Alabi; Governor Adegboyega Oyetola; Minister of State Budget and National Planning, Prince Clem Agba; wife of the Minister Princess Catherine Agba; Secretary to State Government, Prince Wole Oyebamiji and Commissioner for Budget and Economic Planning, Prof.Olalekan Yinusa, during the Minister’s recent visit to the Governor in his office, Abere, Osogbo

Valentine Ozigbo (with red cap), the immediate past President and Group CEO of Transcorp Plc, is celebrated by a group of Peoples Democratic Party (PDP) women at a town hall meeting with PDP stakeholders and political families in Anambra South Senatorial Zone held at Super Royal Hotel, Amichi, Nnewi

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FEATURES

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

Celebrating 57Years of Formidable Aerial Warfare Over the years, the Nigerian Air Force has grown into a formidable force within the West African sub-region. Therefore, as the aerial force recently clocked 57, it underscored how far the service has gone in enhancing its airpower capabilities in response to contemporary national security challenges, Chiemelie Ezeobi reports

S

ince time immemorial, air power has been a critical factor in determining the outcome of any war. Essentially, for an efficient, effective and functional air force, capacity development is critical and fundamental. For the Nigerian Air Force (NAF), the above rings true.

In its 57 years as a professional fighting force, the NAF has had its fair share of neglect and setback, just like any other sector of the economy, but from all indications, the NAF has a lot to celebrate especially with the progresses it has recorded over the years. Asides capacity building and welfare boost for personnel, they have also not done badly in acquisition of weaponry and platforms.

From capacity building to boost in platform acquisition, research and development, welfare of personnel, infrastructural development, robust and result-orientated training for enhanced professional performance, the NAF has recorded many milestones.

History According to the information gotten from the AirForce website, the idea of establishing an air force for Nigeria was first mooted in 1961 following the nation's participation in peace-keeping operations in Congo and Tanganyika (now Tanzania). During these peace-keeping operations, foreign air forces aircraft were employed to airlift the Nigerian Army Regiment to and from the theatres of operation.

Early in 1962, the government agreed in principle that the NAFbe established. This the Nigerian Parliament, therefore, approved the establishment of the NAF and recruitment of cadets commenced in June 1962. Consequently, the NAF was officially established by a statutory Act of Parliament in April 1964 to serve four main purposes namely to achieve a full complement of the military defence system of Nigeria both in the air and on the ground, ensure a fast versatile mobility of the Armed Forces, provide close support for the ground-based and sea borne forces in all phases of operations and to ensure the territorial integrity of a united Nigeria and give the country the deserved prestige that is invaluable in international matters.

The first batch of 10 cadets was enlisted in 1962 to undergo training with the Ethiopian Air Force. The second set of 16 cadets was enlisted in February 1963 to undergo training with the Royal Canadian Air Force while six cadets were sent to the Indian Air Force. Consequently, several countries were approached but the lot fell on the German Air Force to provide technical assistance for the local training of NAF personnel and this materialised in 1963.

While the NAF was still at its infancy as a fighting force, the laudable plans made by the German Air Force Assistance Group were prematurely put to test barely three years after its establishment. The inexperienced Air Force assumed the role of a well established Air Force in order to prosecute the Nigerian civil war in close collaboration with sister services.

At this stage of its existence, the NAF was only equipped with a few aircraft. As the war progressed, some fighter aircraft such as MIG 15 and 17 were acquired to help bring the war to a speedy end.

The Nigerian Civil War came to an end in 1970 and there was the need to re-organise the NAF and up-grade its equipment. In order to strengthen itself, the NAF between 1981 and 1990 acquired additional aircraft types of advanced technology.

Following the expansion of the NAF over time and the need to enforce all international laws and conventions relating to space activities in the Nigerian airspace, the Federal Government promulgated Decree 105 (Armed Forces Amendment Decree) of 23rd August 1994 which provided additional roles for the NAF. These additional roles include enforcing and assisting in coordinating the enforcement of

airpower capabilities required for joint force employment in pursuit of national security imperatives”.

This vision, along with its five key drivers, is expected to drive the NAF towards the attainment of capabilities necessary for joint force employment to achieve national security objectives. Indeed, the CAS is committed to transforming the NAF into a model fighting force that will operate seamlessly with sister services and other security agencies to ensure the security, stability and prosperity of the nation.

Harnessing a formidable force international law, conventions, practices and customs ascribed and acceded to by Nigeria relating to aerial or space activities in the Nigerian airspace, coordinating and enforcing all national and international air laws acceded or ascribed to by Nigeria and de-lineating, demarcating and coordinating all aerial surveys and security zones of the Nigerian airspace.

Past Chiefs The Nigerian Air Force has had 21 service chiefs since inception in April 1964. According to Wikipedia, the service chiefs known as Chief of Air Staff (CAS) includes Colonel Gerhard Kahtz who assumed office on May 5, 1963 as the first CAS and left November 11, 1965; Colonel Wolfgang Thimmig took over from November 24, 1965 to January 18, 1966; Lieutenant Colonel George T. Kuruboo took over on January 19, 1966 to August 4, 1967; Colonel Shittu Alao took over from August 5, 1967 to October 15, 1969; Brigadier Emmanuel E Ikwue took over December 18, 1969 to July 28, 1975; Air Vice-Marshal John Nmadu Yisa-Doko took over on July 29, 1975 to April 14, 1980; Air Vice-Marshal Abdullahi Dominic Bello took over from April 14, 1980 to December 31, 1983; Air Marshal Ibrahim Mahmud Alfa took over from January 1, 1984 to January 1, 1990; and Air Vice-Marshal Nuraini Yussuff took over from January 2, 1990 to January 30, 1992.

Also, Air Marshal Akin Dada took over from February 1992 to September 16, 1992; Air Vice-Marshal Femi John Femi took over from September 18, 1992 to March 29, 1996; Air Marshal Nsikak-Abasi Essien Eduok took over from March 30, 1996 to May 29, 1999; Air Marshal IsaacAlfa took over from May 29, 1999 to April 23, 2001; Air Marshal Jonah Wuyep from April 24, 2001 to May 31, 2006; Air Marshal Paul Dike from June 1, 2006 to August 19, 2008; Air Marshal Oluseyi Petinrin from August 20, 2008 to September 18, 2010; Air Marshal Mohammed Dikko Umar from September 19, 2010 to October 3, 2012; Air Marshal Alex Sabundu Badeh from October 4, 2012 to January 15, 2014; Air Marshal Adesola Nunayon Amosu from January 16, 2014 to July 12, 2015; Air Marshal Sadique Abubakar from July 13, 2015 to January 26, 2021; and Air Marshal Isiaka Oladayo Amao from January 26, 2021, till date.

Staff Branches The Headquarters Nigerian Air Force (HQ NAF) comprises eleven staff branches, which formulate policies. The current eleven staff

branches are: Policy and Plans, Training and Operations, Air Intelligence, Aircraft Engineering, Logistics, Communication and Information Systems, Administration, Standards and Evaluation, Air Secretary, Medical Services as well as Accounts and Budget. Each staff branch is headed by a branch chief who is directly responsible to CAS. The branch chiefs are assisted by several directors and staff officers.

In addition, the Office of the CAS is structured to include the Project Implementation and Monitoring Team.

NAF Commands The NAF is currently made up of six commands namely: Tactical Air Command, Special Operations Command , Mobility Command, Air Training Command, Ground Training Command and the Logistics Command with headquarters in Makurdi, Bauchi, Yenogoa, Kaduna, Enugu and Lagos, respectively.

Weaponry To achieve the objectives for which the NAF was established, the federal government has over the years acquired various weapon systems to enable the NAF to effectively carry out its roles. There are, therefore, various aircraft types currently in operation in the NAF, performing different roles, but the recent platforms added to the NAF aircraft inventory are the Super Mushshak trainer aircraft, Mi-35M helicopter gunship, Bell 412 helicopter, Mi-171E and Agusta - 109 helicopter.

Pledge at Taking Over Like is the norm, there was recently a change in leadership at NAF. The new CAS, Air Marshal, Oladayo Amao, who is the 21st in a long line of chiefs, at the handing and taking over on January 26, 2021, had pledged continuity, vowing to bring the current challenge of insurgency/ terrorism in the North-east to the criminal activities of pipeline vandals, crude oil thieves, sea robbers and militants in the South, as well as increasing threats from kidnappers, cattle rustlers and militarised herdsmen, to an end, thereby ensuring that the nation is safe and economically attractive to live in.

He also pledged to leverage credible partnerships, focusing on enhancing professionalism for high performance, as well as sustainence of human capacity development efforts.

Vision, Key Derivatives Amao, upon assumption of office, wasted no time in carving out a vision to support his quest which is “To enhance and sustain critical

NAF's 57th Anniversary To mark its 57th anniversary, the NAF recently reeled out the schedule of activities, some which are presently ongoing. Due to COVID-19 pandemic, the events were low-key and it featured only three main activities which are; a seminar (on standardisation of training and interoperability of equipment in the Armed forces of Nigeria, as well as proffering workable strategies aimed at checkmating the myriad of security challenges in the country), induction of a new platform as well aerial display by L-39ZA, A-Jet and JF-17 thunder aircraft.

However, there were series of pre-event activities taking place simultaneously at NAF units across the country. These pre-events include; Juma’at service, Church Service, medical outreaches to host communities of the various NAF Bases, and humanitarian support activities by the Nigerian Air Force Officers Wives Association (NAFOWA) across the six geo-political zones of the country.

The entire celebration was hinged on the theme "Enhancing Nigerian Air Force Airpower Capabilities for Effective Joint Operations in Response to Contemporary National Security Challenges”, to truly underscore how far the service has gone from inception to now. The celebration kicked off on May 14 and would end on May 20 with the induction of the JF-17 Thunder aircraft and aerial display.

Current Achievements According to the NAF Director of Public Relations (DOPRI), Air Commodore Edward Gabkwet, at present, NAF has an aggressive airlift capacity that provides speedy airlift support for sister services, the federal government and its agencies both within and outside the country.

"The NAF also has a search and rescue airlift capability made up of helicopters that are capable of performing large-scale rescue operations over jungles, mountains and high seas. Another area where the NAF’s exploits readily come to mind is disaster management", he added.

Defence of Nigeria from External Aggression Over the years, Gabkwet said NAF has taken part in several operations in defence of Nigeria's territorial integrity. "The NAF participated actively in Operations HARMONY I to IV along Maiduguri/Chad border and Bakassi/ Cameroon area and Operation GABAS in 1987 to flush out insurgents from Chad.

"Furthermore, the NAF, in conjunction with the Nigerian Army Air Defence Artillery, provides low-level air defence for airports around the country. The NAF also helps to airlift Nigerian contingents to sporting engagements whenever there are flight problems or need to move at short notice.

"Over the years, the NAF has participated in various international peacekeeping operations including the one in Lebanon from 1978 to 1982, the OAU Peacekeeping Operations in Chad in 1983 during which 144 NAF personnel were awarded OAU medals and the UN Military Observer Group (UNIMOG) in Yugoslavia in 1988. Others are ECOMOG Operations in Liberia and Sierra Leone as well as UNISOM Operations in Somalia and Rwanda.

"Also, in support of government's foreign policy goals, the NAF at different times airlifted

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FEATURES relief materials to sister African countries affected by one form of disaster or the other.

The NAF, in 2012, also participated in the Africa-led Peace Support Operation in Mali.

In January 2017, the NAF deployed its combat platforms and airlifted the Nigerian Contingent to Senegal as part of the Economic Community of West African States Military Intervention in Gambia (ECOMIG) in an operation codenamed “Operation RESTORE DEMOCRACY”. The objective was to enforce the 1 December 2016 election mandate of President Adama Barrow in The Gambia," he added.

United States.

Push for Strategic Partnerships While pushing for strong collaborations and strategic partnerships, CAS stated that the current security challenges require a whole-of-nation approach to tackle. He made this known while playing host to the acting Inspector General of Police (IGP), Usman Alkali Baba, who was at NAF headquarters on a courtesy visit.

He noted that 21st first century security challenges require strong collaboration and strategic partnerships among the security agencies to successfully overcome them.

Capacity Building Also, NAF has systematically localised almost all trades training in pursuance of its local training policy. Given the high standards of facilities and quality of instruction in some NAF schools, Gabkwet disclosed that the FG directed the NAF to provide significant military aid in terms of training to some sister African countries.

To this end, he said the NAF has in recent years, trained military pilots and aircraft technicians for various African nations, adding that the localisation of training has no doubt saved the nation huge sums of foreign exchange in addition to making the country more self-reliant in its training needs.

Aid to Civil Power/Authority In this regard, he said NAF has continued to participate actively in various operations nationwide in aid to civil power/authorities.

These missions range from internal security assignments to the provision of airlift to government agencies. There are instances where NAF personnel have taken over immediate control of the airports when aviation workers abandoned work for one labour protest or the other.

Working in collaboration with other aviation stakeholders such as the Nigerian Airspace Management Agency (NAMA), DOPRI said NAF helps in monitoring the Nigerian airspace and has continued to play a supportive role in the implementation of government policies on National Airport security programme.

Furthermore, he noted that NAF aids civil authority in the provision of liaison and light transport for both military and civilian VIPs, airlift for presidential visits, aerial patrol duties and ceremonial displays.

"The NAF also airlifts a significant percentage of electoral materials used in the series of elections usually held in the country. Following the outbreak of COVID-19 Pandemic, the NAF airlifted thousands of medical materials and other consumables, within and outside the country to curtail the spread of the disease.

Internal Security Operations At present, the NAF is involved in a number of Internal Security Operations in different parts of the Country namely: Operations SAFE HAVEN and WHIRL STROKE in the North-Central, AWATSE in the South-West, HADARIN DAJI in the North-West, DELTA SAFE in the South-South and LAFIYA DOLE now HADIN KAI in North-east.

The NAF also provided the necessary air support to Nigerian Army exercises such as Exercise PYTHON DANCE and CROCODILE SMILE. Additionally, the NAF also collaborates with the National Emergency Management Agency and other relief agencies to cater for victims of disaster in Nigeria.

Provision of Services to Host Communities As currently structured, the NAF has bases in several states across the country. To cater for the welfare and needs of its personnel, hospitals and schools were established. These facilities are often open to the host communities.

Through these facilities, the NAF contributes to human and national development. Furthermore, job opportunities are provided for citizens in the process of rendering some of the ancillary services thereby improving the living standards of the locals.

Research and Development As part of efforts to reduce foreign dependence and promote self-reliance, the NAF has Memorandum of Understanding with about 32 indigenous academic and research institutions as well as manufacturing companies to develop local capacity to meet its aircraft spares and logistics need. Millions in foreign exchange have been saved through these various innovations.

Some of the R&D breakthroughs include the induction of the first NAF indigenous

Subordination to DHQ One of the first moves the CAS alongside other sister services made was to subordinate all matters of operations to the Defence Headquarters under the leadership of the Chief of Defence Staff (CDS), General Lucky Irabor.

According to him, just as it is obtainable in military organisations worldwide, the DHQ is responsible for the command and control of the entire Armed Forces, which also means that all ongoing joint operations and Joint Task Forces are directly subordinated to the DHQ, and their commanders report directly to the CDS.

Chief of Air Staff, Air Marshal Oladayo Amao operational unmanned aerial vehicle named Tsaigunmi; receipt of patent right for the production of the Unmanned Ground Vehicle; receipt of patent right for the production of the hydraulic accumulator diaphragm for the Mi-35 helicopter series; repair Alpha Jet Engines locally by NAF Technicians; local production of 30.1mm Rockets and heat shield protective cones for Alpha Jet rocket pods, as well as Aviation Power pack; and weaponisation of L-39ZA trainer aircraft and 3 x Alpha Jet aircraft whose weapon systems were reconfigured locally to carry not only the Western bloc rocket launchers but also Eastern bloc rocket launchers.

One of such partnerships are that of the Industrial Training Fund (ITF) and Equipment and Protective Applications International Limited (EPAIL) aimed at promoting indigenous technology to sustain platforms and equipment serviceability.

Meeting Military Obligations to UN, Others In the area of Peace Support Operations (PSOs), the NAF has left an indelible imprint.

Nigeria's outing on UN PSOs is perhaps as old as the nation itself. Indeed, the need to airlift Nigerian troops to these operations was the main factor that resulted in the formation of the NAF. The first Nigerian troops deployed to Lebanon on UN peacekeeping operations from 1978-1982 relied entirely on NAF airlift assets for their sustenance. Also, the deployment and withdrawal of the Nigerian contingent to OAU peacekeeping operations in Chad in 1982/83 were carried out using NAF C-130s.

Apart from these major operations, the NAF was involved in peacekeeping and airlift efforts in Yugoslavia, Somalia, Rwanda, Kuwait, Liberia, Sierra Leone, Niamey, the Niger Republic, Bamako, Dakar in Senegal, The Gambia, Mozambique and Zimbabwe.

Reactivation of Operational Capability With the advent of democracy in May 1999, plans to reverse the downward trend of NAF's fortunes began to be implemented.

The democratic government identified the need to have a robust air force and hence, it began to make committed efforts at revitalising the service.

Over the last five years, the NAF has witnessed a tremendous boost to its aircraft holdings across various fleets, through systematic acquisition and reactivation of platforms. The FG has acquired 26 brand new aircraft to boost training and combat readiness of the NAF. These include 10 Super Mushshak trainer aircraft, five new Mi-35M helicopter gunships, two Bell 412 helicopters, four Agusta 109 Power attack helicopters and 2 Mi-171E helicopter and soon to be inducted three JF-17 Thunder multi-role fighter aircraft.

Besides these, 12 additional Super Tucano attack aircraft have also been ordered by the Federal Government. In the same vein, 25 previously grounded aircraft including the Falcon 900, ATR-42, Beechcraft, Super Puma, F-7Ni,

EC-135, Do-228, Mi-24V, Mi-35P, C-130H, L-39ZA and Alpha Jet have been reactivated. Indeed, for the first time in its history, the NAF successfully conducted multiple in-country Periodic Depot Maintenance (PDM) of its platforms.

Evolving Strategies As part of the efforts put in place to create new strategies in view of the ever changing security environment, the CAS recently held a three-day oorrational retreat for unit commanders. Themed ‘Harnessing NAF Airpower Capabilities for Effectiveness in Joint Operations', current efforts by NAF were carefully scrutinised as well as new strategies proffered towards improving the current security challenges in the country. Key areas of deliberation centred on operational, logistics as well as engineering efforts by relevant units towards enhancing operational effectiveness of the NAF. In his address, Air Marshal Oladayo Amao, had reiterated that the retreat was aimed at appraising NAF’s current state of effectiveness and efficiency towards contributing to the enhancement of national security as well as in dealing with current and emerging security challenges facing the nation.

Boost for Airpower As part of the retreat, four newly trained pilots comprising two fighter pilots and two combat helicopter pilots, who recently completed their trainings in United States of America (USA) were winged. The winging of the pilots as ascribed by the CAS marks a glowing testament of NAF’s commitment towards, ‘enhancing and sustaining critical airpower capabilities required for joint force employment in pursuit of our national security imperatives’.

Amao, who also thanked President Muhammadu Buhari, for his unwavering commitment to the development and enhancement of the Armed Forces, also disclosed that the service cannot effectively and efficiently employ airpower if there was lack of sufficient number of well-trained aviators and support personnel, hence the importance the service attaches to the winging of the young pilots. He went further to reveal that a total of 233 officers and airmen/ airwomen were undergoing training courses overseas, which cut across several specialties and trades.

According to him, “out of this number, about 35 are student pilots undergoing various stages of training at Czech Republic, USA, United Kingdom and South Africa. All these are aimed at maintaining combat readiness at significantly higher levels to counter both domestic and foreign threats to the Nation’s security and wellbeing.”

Two of the winged pilots completed the Specialised Undergraduate Pilot Training (SUPT) at United States Air Force training facilities in Mississippi and Texas while the other two went through the Basic Military Helicopter as well as Mission and Tactics Training at United States Army Aviation Flight School, Fort Rucker and Western Army Aviation Training Site, Arizona,

Adherence to Hierarchy Upon assumption of office, Air Marshal Amao tackled one of the issues that cause indiscipline and breeds insubordination. According to him, his administration resolved to revert to the military tradition of adherence to seniority and hierarchy in the appointment of officers to head command posts.

"Situations where subordinate officers are given command appointments ahead of their seniors does not augur well for the system as this breeds insubordination and indiscipline," he vowed.

Championing Discipline Speaking on discipline, Air Marshal Amao stated that there would be no sacred cows when it comes to discipline as those found wanting would be punished as ascribed in the Armed Forces Act. Welfare Boost Personnel welfare also got a boost as the CAS assured that non promotion of NAF personnel due to inability to attend courses that should enable their upgrading would be given special consideration as soon as they meet the criteria set for the promotion.

Housing Schemes On NAF post service housing schemes, the CAS frowned at the situation where personnel are compelled and put under financial duress just to meet up with initial deposits for the houses.

According to him, "housing schemes by the NAF should be easily affordable and stress-free".

He then directed the Chief of Administration to work out modalities where payment for houses would be deducted from monthly salaries and not in lump sums that usually exert undue pressure on personnel.

Charge to Troops In all his tours and operational visits, one thing has been constant in all his dealingscharge to troops, which are intended to boost their morale.

According to CAS, now more than ever before is the time that the NAF must show strength, determination and remain undeterred and unrelenting until the entire North-east is rid of terrorists and other criminal elements.

He noted that while a lot has been achieved towards degrading the capacity and capability of the insurgents, much more is needed to be done to achieve the desired level of peace and security in the region. He also charged them to work assiduously, in synergy with sister services and other security agencies, to ensure that peace and security of lives and property are achieved.

Assuring them of his support as they intensify efforts towards ensuring that the fight against insurgency comes to an end in no distant time, he further reassured them that the entire nation is behind them and supportive of their efforts hence the need for all to remain focused.

For the NAF, at 57, it's renewed vigour in service to the nation, as well as tackling the various security crisis in line with contemporary challenges and at the same time, harnessing its airpower for optimum delivery.

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WEDNESDAY MAY 19, 2021 • T H I S D AY

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BUSINESSWORLD

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes Guinea Backs FEDA’s Establishment

CAPACITY BUILDING

L-R: Director, Industrial Relations, Office of Establishments and Training, Lagos State, Ms. Anne Momodu; Permanent Secretary, Office of Establishments and Training, Dr. Augustine Onayele; Special Adviser to Lagos State Governor on Labour and Industrial Relations, Babatunde Williams; Chairman, Nigerian Labour Congress (NLC), Lagos State Chapter, Agnes Sessi; and Chairman, Joint Negotiating Council, Rhaman Balogun, at a capacity building program for union leaders organised by the Lagos State’s Office of Establishments and Training in Ikeja, Lagos... recently ETOP UKUTT

NAICOM Set to Enforce IFRS 17 for Insurers Stories by Ebere Nwoji The National Insurance Commission (NAICOM) has said that effective January 1, 2023, all insurance and reinsurance companies in Nigeria would migrate from the present International Reporting Finance Standard (IFRS) 4 finance reporting model to IFRS 17.

With this, insurance and reinsurance firms would be expected to present their financial reports in accordance with IFRS 17, whose objective is to ensure that an insurance companies provides relevant information their transactions.

The commission said the information in the IFRS accounting model of insurance firms

INSURANCE would form the basis for users of financial statements to assess the effect that insurance contracts have on the entities’ financial position, financial performance and cashflows.

The Commissioner for Insurance, Mr. Sunday Thomas, who disclosed this at the inauguration ceremony of the sub-working groups of the insurance industry financial reporting working group (IIFRWG) in Lagos, said what this means is that the insurance industry has less than two years to prepare for the adoption of IFRS 17.

“If the effective date of application is not shifted further by

the IASB, it therefore means that Nigeria insurance industry has less than two years to prepare for the adoption of IFRS 17.

“It is against this backdrop that the Commission hereby constitutes a Sub Working Group (SWG) that will help to foster the country’s adoption of the IFRS 17 in line with best practice,” the Commissioner said.

He said the Commission had earlier issued a roadmap on adoption of IFRS 17 insurance contract for insurance industry in Nigeria, noting that activities and timelines were intended to set the tone and facilitate a coordinated process and action steps.

“The roadmap was issued for general adoption by all insurance,

reinsurance, takaful and micro insurance companies in Nigeria, in addition to the inauguration of the llFRWG and issuance of the roadmap,” he added.

Thomas said the regulatory body had equally organised a capacity building forum on IFRS 17 for CEOs, non-Executive directors and accountants in the sector.

Thomas, said it was in furtherance of providing technical recommendations and production of relevant guidance for the implementation of IFRS 17 that members of the IIFRWG are now grouped into SWG. He said the sub-working groups were constituted to assist the Continued on page 25

Operators Highlight Changes in Insurance Business Models International and local insurers are reviewing their business activities this year with special attention on impact of the COVID-19.

According to them, the pandemic has brought about a lot of disruptions in their business model.

They pointed out that prominent among these changes was the emergence of insurtech companies and their new ways of doing business as well as various changes in customer service models and marketing system. Insurtech companies offer online policy quotes and applications.

INSURANCE These companies also use underwriting algorithms that allow some applicants to purchase a policy online in one sitting.

But Nigerian insurers are divided in their views on the post COVID-19 insurance market.

According to Deputy President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Abiodun Duroduola, despite the disruption brought by the pandemic and other emerging issues, brokers will still remain relevant in insurance business.

He said the new normal will

make brokers more creative in their business thinking and practice.

He said those who want to write off the place of brokers in insurance business because of the disruptions should bear in mind that there is always a place of human interaction in every market.

“In businesses like insurance of factory, insurance brokers will always have an edge. It is not a policy you buy online through digital marketing and pricing.

“An insurance broker needs to visit the factory, have one on one look at the factory, do the necessary inspection and be in

position to advise the owner and the insurance underwriter,” he added. He insisted that there are many businesses such as that, that digital marketing cannot deliver. The Commissioner for Insurance, Mr. Sunday Thomas, said brokers, must change their way of doing things by looking at collaboration with underwriters in creating products and reducing competition.

For Managing Director, Scib Insurance brokers, Mr. Shola Tinubu, the pandemic has ushered in the era of digitalisation in insurance business.

Continued on page 25

TheRepublicofGuineahassignedtheAgreementfortheEstablishment oftheFundforExport-DevelopmentinAfrica(FEDA),adevelopment impact-oriented subsidiary of the African Export-Import Bank (Afreximbank).The Establishment Agreement was signed on March 31, 2021, by the Minister for Foreign Affairs, Mr. Ibrahima Khalil Kaba, on behalf of the Republic of Guinea.

According to a statement, Guinea becomes the third signatory of the Establishment Agreement after Rwanda in November 2020 and MauritaniainJanuary2021.TocompletetheFEDALegalEstablishment process, two Afreximbank member states were required to sign and ratifytheEstablishmentAgreement.ThesigningoftheAgreementby GuineawasasignificantstepasitenablesFEDA’sLegalEstablishment procedures to progress towards completion.

The Establishment Agreement grants FEDA legal capacity to conduct business in its own name as an international organisation withprivilegesandimmunitiesaccordedtootherMultilateralFinancial Institutions on the continent. It quoted President of Afreximbank and Board Chairman of FEDA, Prof. Benedict Oramah, to have said: “We at Afreximbank greatly appreciate the signature of the FEDA Establishment Agreement by the Republic of Guinea, marking another major milestone in the FEDA Establishment process. This notable action has added the required momentum in support of the establishment of FEDA as a new multilateral development platform on the continent.” FEDA was established by Afreximbank to catalyse Foreign Direct Investment (FDI) flows into Africa’s trade and export sectors and to fill the equity funding gap that amounts to US$110 billion per annum in the areas of Intra-African trade and Export Development.

Infinix Launches Note 10 Series

Infinix has launched the all-new Note 10 series, a new portfolio of premium smartphones which included the Note 10, Note 0 Pro and Note 10 Pro near-field communication (NFC).

Showcasing a super fluid display, powerful MediaTek gaming processors, cutting-edge artificial intelligence (AI)-powered camera and optimised 5000mAh battery with fast-charge technology, the Note 10 series was designed to enhance and optimise work and entertainment experiences for users.

“Weknowtoday’ssmartphoneenthusiastswantadevicethatbalances style with the latest innovative technology for a truly immersive experience,” said Manfred Hong, Senior Product Director at Infinix. “ The Note 10 series perfectly balances functionality; aesthetics, style, innovation, texture and color functionality, to create the ideal, allaround device for professionals, entertainment lovers and everyday users alike.” According to the manufacturer, the iF Design 2021 award winning Note 10 Pro delivers a balance between the physical and virtual worlds, the calmness and serenity of Mother Nature and the modern geometric interiors and décor designs of luxury brands.

“The back panel is uniquely divided into two sections with the bottom half completely textured in juxtaposition with the glossy top. The design is available in four colors: 95° Black, 7° Purple, Emerald Green (exclusive to NOTE 10) and Nordic Secret (exclusive to NOTE 10 Pro),” it added.

Fortune Global Wins Award

Fortune Global Shipping and Logistics Limited (FGSL) has emerged winner for the “Next Bull” award at the 2021 Nigerian Investor Value Awards (NIVA). The award was in recognition of innovations the company has made in improving the industry through exceptional service delivery. Upon a rigorous selection process, FGSL came top on a long list of 136 firms to eventually win the award.

The award is the brainchild of a collaboration between the Nigerian Exchange Limited and BusinessDay Media.

Commenting on the award, Chief Executive Officer, Fortune Global, Eric Opah said, “We are humbled by this recognition as it speaks to our long time commitment to strive for excellence in our business operations. “To be named “Next Bull” is a commendation of the work done behind the scenes, and it is even better much more coming on the back of the pandemic which created severe alterations in the activities of businesses.

“The Presidential Power Initiative is a comprehensive programme targeted at the grid, transmission, distribution and grid communications projects that will modernise the grid and unlock 25GW of stable operable capacity over the next five years” Minister of State, Power,

Goddy Jedy-Agba

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Hedging against Inflation Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to earn positive returns on their investments

W

hen investors stake their funds, their expectation is to reap positive returns on investments.That means a return that is above inflation rate. And considering the fact that inflation rate stood at 18.12 per cent as at the end of April 2021, investors must invest in securities that would produce a return of above 18.12 per cent.

Although it is difficult to come across investment that can give yields above inflation rate, the equities market offers investors opportunity to enjoy positive returns. However, for investors to earn such positive returns in the equities market, they must seek the advice of professionals. This is so because just as the market is capable of fetching positive returns, investors could also lose their investments if not well guided by professionals.

While inflation is above 18 per cent, some stocks have appreciated by over 100 per cent year-to-date.

For instance, LASACO Assurance Plc has appreciated by 231.5 per cent, while Champion Breweries Plc has gained 135.2 per cent, Morison Industries Plc and Regency Insurance Plc have chalked 91.8 per cent and 68.1 per cent in that order.

Consolidated Hallmark Insurance Plc, MCNichols Plc and Guinness Nigeria Plc garnered 59.3 per cent, 56.8 per cent and 54.8 per cent in that order.

Others included: Seplat Petroleum Development Company Plc (51.2 per cent); UAC Of Nigeria Plc (47.1 per cent); May and Baker Nigeria Plc (40.1 per cent) and Royal Exchange Plc (38.4 per cent).

Also, some stocks have suffered depreciation.

FTN Cocoa Processors Plc has shed 36 per cent, followed by Vanleer Containers with 33.5 per cent. Daar Communications Plc and The Initiates Plc lost 29.8 per cent. SCOA Nigeria Plc and Wema Bank Plc dipped by 26 per cent and 23.6 per cent respectively.

But the Global Head, Wealth Management at Standard Chartered Bank Limited, Marc Van de Walle, advised that investors should always embrace the seven key rules of saving and investing wisely.

According to him, investors should prepare an investment plan based on their financial goals, risk tolerance and time horizon and set aside funds for short-term exigencies in cash.

He said: “Invest most of the remaining funds (say 80 per cent) in a core portfolio broadly diversified across asset classes, geographical regions and industry sectors. This will help limit the downside from unexpected events (because they will happen over our lifetime!).

“Stay invested through market cycles, since time and the miracle of compounding returns is your friend. Rebalance the portfolio at regular intervals (say twice a year) to bring it back to your risk tolerance.”

The wealth manager explained that investors should use the remaining funds (at most 20 per cent), for short-term trading (for those who want the thrill).

“Make sure this is based on sound research and not the latest fad, and done with a cool head - not be too greedy at the top and panicky at the bottom (using stop-losses would help remove personal biases and limit downside risks for this part of the portfolio) and finally, follow the investment plan,” he said.

According to him, for some investors, putting all funds to work immediately could be psychologically challenging.

“For this group, setting up a pre-determined regular investment plan would remove any personal biases. This so- called dollar-cost averaging strategy would help the investor to automatically benefit from any market upside, while allowing the investor buy cheaper if the market pulls back along the away. This strategy could include pre-determined rules to accelerate purchases in the event of larger-than-expected market draw downs,” he added.

Walle, noted that based on decades of market history, it is hard to make a case for an equity bear market without an accompanying economic recession.

“Therefore, the risk of trying to time when to exit the market before any short-term correction and re-enter at the bottom are greater than staying invested (since the investor could lose some of the best days in the market by staying out),”

Trading Floor he said.

Walle said for those who have stayed out of the market before or after the pandemic, the challenge of when to get back in is seemingly much harder, adding that often, their hesitation stems from a desire to perfectly time their re-entry.

In our experience as wealth managers, this is the single most common investment mistake.

While the market broad index, the Nigerian Exchange Limited (NGX) All-Share Index has recorded a year-to-date decline of 2.4 per cent, analysts at Cordros Securities are bullish that the market would recover in the second half (H2) of 2021, They are therefore urging the investors to take position now.

According to them, investors taking position in stocks that usually pay interim dividend give them benefit to enjoy good yields in H2.

They said while expected market conditions to remain the same given still rising fixed income yields, they noted that said the current prices provide a good entry opportunity for long term investors.

“We think it also provides an opportunity for long term investors to take advantage of the current prices in carefully selected fundamentally sound stocks with attractive dividend yields.

Since stocks have been primarily impacted by the swift developments in the fixed income market, the fundamental question then is, “Are there events on the horizon that could pressure yields downwards and trigger renewed appetite for stocks?”

“While I acknowledge that yields will remain elevated for the rest of H1-21, it is equally important to note that there are triggers that could result in a reversal in the yield trajectory and propel the equity market’s performance,” the analysts said.

According to them, one of the triggers is the plan of federal government (FG) to obtain external borrowing via Eurobond issuances, which, according to him, would lead to less reliance on domestic borrowings to finance the deficit in the 2021 budget, resulting in a supply / demand imbalance akin to 2020.

“In addition, the plan to borrow unclaimed dividends and dormant balances is another “wild card” in the hands of the FG and could reduce the supply of domestic debt instruments. While I note that lawsuits have been filed to restrain the action of the FG, our baseline expectation is that the FG will get a favorable judgment at the end of the court process.

“Asides from that, there is a high possibility that foreign portfolio investors (FPIs) could return gradually to the market in H2-2021 if there is substantial improvement in liquidity conditions in the FX market. With rising crude oil prices,

we see scope for improved liquidity in the I&E window by H2-21, given the knock-on effects of high oil prices on the FX Reserves,” they said.

The analysts explained that H2 also coincides with when domestic investors will be taking positions in stocks ahead of half-year dividend announcements, stressing that a more robust market recovery post-H1-21 is on the cards.

“Consequently, we posit that investors should buy stocks with attractive dividend yields now to avoid the “dividend rush”. We believe “early bird” investors will be in a position to earn higher returns in H2-21 by positioning in fundamentally justified stocks with a consistent history of half-year dividend payment. Suppose the positive market performance, albeit shortlived, that ensued in April during the Q1 2021 earnings season is anything to go by; we believe it is compelling for investors to take advantage of the moderation in share prices in making a re-entry into stocks,” they said.

The analysts believe that Access Bank Plc, Guaranty Trust Bank Plc, Stanbic IBTC Holdings Plc, United Bank for Africa Plc, Zenith Bank Plc, MTN Nigeria Plc, Nestle Nigeria Plc and Nigerian Breweries Plc, are some of the stocks investors should buy ahead of the interim dividends declarations. Considering the first quarter results of the companies, the prospects for interim dividends are high.

For instance, Access Bank Plc grew its profit after tax (PAT) for the first quarter (Q1) ended March 31, 2021 by 28 per cent to N52.6 billion compared with N40.9 billion recorded in the corresponding period of 2020. Details of the results showed gross earnings of N222.1 billion. Profit Before Tax (PBT) rose by 30 per cent to N60.1 billion, from N46.2 billion, while PAT grew by 28 per cent to N52.6 billion.

According to the Group Chief Executive Officer of Access Bank Plc, Mr. Herbert Wigwe, the performance showed the strong capacity of their business to generate sustainable earnings on the strength of their balance sheet, diverse revenue streams and their dedicated people.

“As a result of effective implementation of our cost reduction strategy, operating expenses remained flat, despite the inflationary environment and increased regulatory cost. Our retail banking business also showed steady growth with a 112 per cent increase in revenue to N57.5 billion and a 941,631 new customer sign-on via our financial inclusion drive during the quarter. This improvement is evidenced by the consistent and robust savings account growth to N1.3 trillion , leading to a significant reduction in our cost of funds,” Wigwe said.

The GMD said Access Bank would leverage the African Continental Free Trade Agreement

(AfCFTA), and focus on key markets to drive outside Africa and intra-Africa trade.

“In alignment with our objectives, we recently announced our intention to acquire a majority shareholding in African Banking Corporation of Botswana Limited to further strengthen our Southern African footprint. Looking at the quarters ahead, we are poised for strong earnings growth fueled by our retail momentum, robust balance sheet, and operational efficiency,” he said.

Similarly, UBA grew its PAT by 26.8 per cent to N38.2 billion in Q1 2021 from N30.1 billion in 2020. The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an improved bottom-line.

The bank recorded an annualised 20.5 per cent return on average equity (RoAE) compared to 19.9 per cent in the same period of 2020.

UBA’s total assets rose by 2.5 per cent to N7.9 trillion compared to N7.7 trillion recorded at the end of the 2020 financial year whilst shareholders’ funds grew to N762.4 billion up by 5.3 per cent from N724.1 billion as at the end of 2020.

Commenting, the GMD, UBA, Mr. Kennedy Uzoka, said the results reflected bank’s capacity to sustainably grow earnings even in a highly uncertain macroeconomic environment.

According to him, the robust capital and liquidity positions have boosted the bank’s capacity as it continues to support its customers across diverse sectors and markets, guided by prudent risk management practices.

He said: “This impressive 2021 Q1 results reflect the capacity of our business to sustainably grow earnings even in a highly uncertain macroeconomic environment. We remain upbeat on the macroeconomic outlook of the countries in which we operate, especially as the COVID-19 vaccine distribution gains traction globally, whilst commodity prices and currencies continue to stabilise. Our robust capital and liquidity positions have positioned us to continue to support our customers across diverse sectors and markets, guided by prudent risk management practices.”

Uzoka explained bank’s effort towards diligently executing its priorities for the year 2021, as it leverages people, process, and technology to deliver the best customer experience across all its channels and touchpoints, achieving industry leadership and dominance.

“The bank is making strong progress in Nigeria where our continuous market share and efficiency gains are translating into higher profits.

We are committed to sustaining this strong start throughout the year, leveraging our customer-First (C-1st) philosophy and unparalleled execution to deliver even stronger returns to our esteemed shareholders in 2021 and beyond;” Uzoka said.

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BUSINESSWORLD NAICOM SET TO ENFORCE IFRS 17 FOR INSURERS IIFRWG in the achievement of its mandates by considering those technical aspects in the implementation of IFRS 17, adding that it would support in the seamless transition.

According to him, the llFRWG had identified the following three critical sub working groups namely: Accounting, Disclosure and Reporting Sub-Working Groups. He said they were meant to assist on technical issues relating to accounting, technical, actuarial, data governance, process and systems sub-working groups.

According to him, the Policy and Methodology Sub-Working Group was meant to interpret requirements and draft methodologies and policies.

OPERATORS HIGHLIGHT CHANGES IN INSURANCE BUSINESS MODELS

He also said post COVI-19 opportunities would abound in areas which operators were yet to explore. He listed some areas of COVID-19 emerging opportunities as technology and innovation, opportunity in both life and health insurance, increased government investment in health sector. He also noted that there would be major changes in pattern of businesses in the sector, pointing out that value creation would be critical, while pricing would be more competitive.

NEWS

DPR’s Alternative Resolution Centre Begins Operation Emmanuel Addeh in Abuja The Oil and Gas Alternative Dispute Resolution Centre (ADRC) set up by the Department of Petroleum Resources (DPR) has begun sitting to reduce the number of cases that get to the regular courts.

In a statement in Abuja, the oil and gas industry regulator noted that the centre has already successfully resolved its first case in line with the objective of the federal government for

speedy resolution of disputes in the industry.

Head, Public Affairs of the DPR, Mr. Paul Osu, who signed the statement, stressed that four other cases were currently at hearing stage before the ADRC. According to the DPR, the ADRC is one of the units of the National Oil and Gas Excellence Centre (NOGEC) inaugurated by President Muhammadu Buhari recently.

Osu said the ADRC has a six-member advisory council and

a 20-member body of neutrals which has been mediating on disputes between players in the oil and gas value chain.

He stated that the setting up of the ADRC was in consonance with the provisions of the Petroleum Act Cap P10 Laws of the Federation 2004 which emphasises the settlement of disputes through alternative dispute resolution mechanisms without recourse to litigation.

“The ADRC has successfully resolved its first case and we have four others pending. This is a positive step for the industry because the objective of setting up the centre is to reduce cost, enhance safety and add value to the sector.

“With this, we can begin to win investors’ confidence thereby attracting more investments to the oil and gas sector,” Osu added.

He explained that participating or referring of cases to ADRC

was voluntary, adding that it would however be very beneficial to the parties.

The centre , the DPR said, was set up by to offer arbitration, mediation and conciliation services for the industry.

The advisory council is made up of the Director/CEO of DPR, Mr. Sarki Auwalu, who is the chairman as well as Justice Saliu Said, Justice Cecelia Olatoregun, Chief Bayo Ojo (SAN) , Mr Daere Akobo and Mr Nicholas Odinuwe.

Power Firm’s Fresh $400m Demand Delays $5.8bn Mambilla Project Take-off Emmanuel Addeh in Abuja with agency report The planned take-off of the 13,000MW Mambilla Hydropower Project, located in Taraba State, has again run into troubled waters with another legal hurdle being mounted by Sunrise Power and Transmission Company (Limited (SPTCL), which is claiming a breach of contract by the federal government.

It was gathered that the Nigerian company which lost out on a contract to build the multi-billion-dollar plant has filed a $400 million arbitration claim against the government, further hampering the country’s plans to access Chinese financing for the project.

SPTCL is accusing the government of reneging on a settlement accord agreed last March that

was supposed to resolve a longrunning dispute over the rights to construct the Mambilla facility.

The company, Bloomberg reported, has filed a case at the International Chamber of Commerce (ICC) in Paris asking the tribunal to order the President Muhammadu Buhari’s administration to honour the agreement, its lawyer Femi Falana (SAN) told the news medium.

Export-Import Bank of China had agreed to help fund Mambilla, but has insisted that it won’t release the money until the legal standoff ends.

Plans to develop the plant on the Donga River in the eastern Taraba state dates back to the early 1970s, but the project has got off to multiple false starts.

Initially intended to be a 3,050-megawatt facility that would cost $5.8 billion, the power

ministry said it scaled back the scope of the project to improve its “bankability.”

Former Power Minister, Babatunde Fashola (SAN) had announced in 2017, that China Eximbank would finance 85 per cent of the cost of Mambilla, and that it would be built by Sinohydro Corp., China Gezhouba Group Co. and China Geo-Engineering Corp. But a memo written by the Chinese contractors to Mamman in September 2019 stated that Eximbank couldn’t enter “substantive financing negotiations” while the development is encumbered by legal disputes.

China’s top diplomat and a ruling Politburo member, Yang Jiechi, then notified Buhari the same month that the funding can’t be disbursed until the tussle with Sunrise ends, according to the memorandum.

The power ministry first granted Sunrise the contract to build Mambilla in 2003, a deal the Federal Executive Council (FEC) declined to approve. The company has asserted a claim to the project ever since, first in a Nigerian federal court and more recently through international arbitration.

After Fashola finalised the arrangement with the three Chinese firms, Sunrise started proceedings against the federal government at the ICC, demanding between $960 million and $2.4 billion in damages.

It, however, suspended the case to participate in the settlement talks encouraged by Jiechi.

Last year, Mamman and the Attorney General of the Federation (AGF), Abubakar Malami, concluded two agreements with Sunrise that committed

the government to pay $200 million to the Lagos-registered company in return for it dropping all claims relating to Mambilla.

The agreement indicated that the company would be entitled to an additional $200 million plus interest if the government failed to transfer the agreed sum within 180 days, according to the second accord signed in March, which was seen by Bloomberg.

But the federal government has said that it cannot pay the settlement sum, according to a memo Malami sent the president in August last year, at a time when low oil prices were hammering government income.

Sunrise hasn’t received any money “despite numerous commitments from the involved ministers and a surge in oil prices,”Bloomberg quoted Falana as saying.

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Adeokun: FG Needs to Enforce Local Content Policy on Smart Card Production The Managing Director/Chief Executive Officer, Electronic Payplus Limited, Mr. Bayo Adeokun, in this interview speaks about the expansion journey of the smart card and payment solution company. Obinna Chima brings the excerpts: Tell us how the journey of Electronic Payplus started and how has it been so far?

Electronic Payplus is a smart card and payment solution provider. The company was incorporated in December, 2004, but we actually started operations in May 2005 as a payment service provider. We got licenced by Interswitch to supply and maintain point of sales (POS) machines, deploy POS to merchant locations on behalf of the banks and we did that for about three years. We were the first company to deploy ATMs all over the malls, but we were not seeing enough transactions to meet our overheads.

We decided to change our business focus and that was why we went into card manufacturing. The thinking then was that these were the same set of customers that we were deploying POS machines on their behalf to merchant locations; so, selling cards to them should not be difficult. When the Central Bank of Nigeria (CBN) came up with a pronouncement that we should migrate to chip and pin, we felt that this was a good opportunity for us to invest in the business because it requires a high level of technology and financial investment prior to the magnetic stripe. We actually invested in the card production business in 2008 and we were the first to be certified by Verve in Nigeria, so we got Verve certification and then we started supplying the cards. We got other payment certifications that aided growth.

With the recession in 2015 and forex scarcity, it became difficult to import our materials, so we sat back together with our consultants to find out how we can navigate around this CBN policy and how we can ensure sustainability of the company.

This led to the partial backward integration exercise and like I keep saying, it involves a huge financial investment which we did not have then, so we decided to take it step by step. We started with what we call milling and embedding which means that we will bring in knock down parts of the cards, the chip and plastic because what the federal government did was that they increased tariff on smart cards from five per cent to 65 per cent, so no forex and tariff as well and by the time we brought in our products, we could not compete.

If you bring in plastic only, which was about 20 per cent of the value of a card, you will pay 65 per cent, but if you bring in the chip, you pay only 10 per cent duty, meanwhile, that was about 80 per cent of the value of the card. But if you bring in complete, you will pay 65 per cent. So, we did the arithmetic together with our consultants so we felt it made sense to invest this amount, so we invested in our first set of machine for milling and embedding and each of these machines were about N200 million each.

With the economic challenges and inability to compete, we started planning to go into full local production and by 2018, we started the process. By 2019, four years after we did milling and embedding, we made all the investment and ordered all the necessary equipment with a view to go live in June 2020, when we would have been 15 years, but because of the pandemic, alongside its challenges, manufacturers could not complete the machines, no international trade, so the machines that were supposed to arrive first quarter of 2020 could not come. There were a lot of issues until finally, they arrived in November 2020. Having installed all the machines, we obtained necessary certifications to commence full local manufacturing.

Our capacity includes the production of all kinds of smart cards. We can do the bank cards, sim cards, identity cards and even residency cards. We can produce any security item because we can put security features on all the cards and that is the advantage of the digital printer that we procured. There is an immigration card for the diplomatic corps that they still do today from a company in Belgium. We can easily take over that kind of service because we have the capacity to do them. Any smart card whatsoever you can think of we can produce from this facility today. We invested over $2 million and so that has been the story of electronic pay plus and like I said at this juncture, we now need to showcase ourselves because we will be 16 years by the end of May and so this is just a prelude to the celebration of the 16 years of Electronic Pay Plus in Nigeria

will be less than 25 per cent capacity of what we have installed. But like I said, the idea is to improve turnaround that we can offer today, because today, if you give me an order of 1 million, we can deliver it to you within a week. I can even deliver 250,000 per day to you, so we believe that will be a game changer for us and therefore, we would be able to scale up our capacity utilization as well as market share as quickly as possible. Our target is to ensure that by 2023, we should be doing 90 per cent of our capacity.

What are your projections for market expansion in the coming years?

Again, like I said we are also a digital payment solution provider, we do electronic ticketing as well. We do transport and all of that. There is a view that the rate of increase in smart cards will probably be going down because a lot of digital solutions are coming into the market. However, we strongly believe that the impact is not going to be much over the next couple of years because when you look at our environment, the number of people with access to smartphones remains low. It was difficult selling cards to Nigerians not to talk of telling them to leave their cards to go to phones to access their money, so we believe that cards will still be here and the value in the market will still continue to grow albeit in a smaller dimension and that is why we limited our capacity to 60 million for now, but the beauty of it is that we can easily quickly scale if necessary because all we need to do is bring additional machines and slot it in and you have an increased capacity, so it is very easy for us to increase capacity if necessary.

Adeokun What is the annual cost of imports?

If you look at Nigeria today, our budget estimate for banking cards only in Nigeria is about 35 million units per annum and on average, each of that would typically cost about $36 million if produced abroad at the present exchange rate. With our investment, we can save at the least 50 per cent of this for the government and the industry, because we still have to import the sheets since they are not available locally as well as the module. The savings of $18 million is on banking cards alone; I have not done the cost of other cards that we have the competitive advantage of producing. By the time we put everything together, we will be talking about saving $300 million annual savings for the country in this period where remittances from abroad are going down and crude oil prices are unstable. The federal government needs to make lots of savings in order to build our foreign reserves and this is a way to do this apart from employment that we are also going to be generating. Before now, we had about a 100 staff, but we are presently up to 150, so we are also generating employment and if you look at the nature of Nigeria, those additional 50 staff, each of them probably has a dependant of maybe 10 persons at the minimum, so we are talking about an additional 500 or so that we are catering for.

How can the issue of imports be addressed?

The federal government needs to begin to look inwards. They need to unveil a local content policy around the smart cards business and digital payment and products. There is no reason why telcos import sim cards into the country. This is the same as the importation of banking cards, even though they pay the duty on such. There is a lot of smuggling of such products into the country. The country

The federal government needs to begin to look inwards. They need to unveil a local content policy around the smart cards business and digital payment and products

has the local capacity for such production. The ECOWAS card can equally be produced locally, same as the voter’s card. It is key to enforce local content laws in the industry in order to save scarce foreign exchange and protect sensitive data from foreign countries.

How much raw material sourcing do you do locally?

Most of the raw materials are still being imported; majority of them and that is another area the government needs to look at. The major materials such as the Polyvinyl Chloride plastics are imported even though they are by-products of the petrochemical industry. We do not want to be jack of all trades and we cannot begin to produce all of that as well. If we have people producing this locally, we will buy from them and maybe in the future we can decide to go into it and we will be able to serve both ourselves and other people using this raw material.

Are you also looking at card businesses from the government beyond the banking industry?

Definitely like I said, the country can produce its own smart card. The purpose is to extend this solution to every sector of the economy. We have done it before with the National Identity cards.

We are presently working with the Lagos State government because they want to roll out what is called the residency card that is also going to be a payment card. We are currently talking to the Telcos on the possibility of supplying their sim cards as well. We are also looking at beyond Nigeria because we have customers all over Africa.

So what will you say your capacity utilisation and what are the limitations from attaining full capacity?

Today, our facility is designed to produce 60 million units of smart and payment cards. With a yearly demand of 35 million cards in Nigeria, we were doing an average of 10 million cards per annum due to challenges in the supply chain.

With the new installation, we think that we would be able to take a minimum of 50 per cent of the banking cards in Nigeria within the next one year which is about 17.5 million and we will then extend beyond the present customers that we have abroad.

In other African countries prior to this year, we are doing about an average of 2 million cards so if you add that to our 10 million here locally, that is about 12 million and if we maintain that, that

Access to electricity is a challenge for many businesses. What is the cost of powering this plant on an annual basis?

Every Nigerian is a government of his own because we all generate our electricity, water, and we even construct our roads. Unfortunately, that is the environment where we operate. We spend a lot on power generation and on average last financial year, we spent about N50 million on diesel and that could have been a profit for the company and our estimate for this year shows that the cost would increase this year to about N75 million because of the additional equipment that we have brought in.

There are so many intervention funds from the government establishment. How much of these funds have you been able to access to fund your operations?

We have actually accessed a lot of funds from the Bank of Industry (BOI) and they have been very supportive and they have supported us over the last 10 to 15 years. There is no time we require funding that the bank is not there for us.

What is your projection for the company in the next five years? Are you exploring any form of business combination or listing on the Nigerian Exchange?

This is a decision by my board and shareholders.

However, every five years we do a review of our activity and we come up with a new set of sustainable plans for development and for instance, the current one we are running is in two parts. One part is to complete what we have just finished while the other is to diversify our revenue base. Presently, today, 95 per cent of our revenue comes from smart cards and by the way that plan will end next year and the plan is that by 2022, 50 per cent of our revenue should be coming from smart cards and 50 per cent from digital products and that was why we changed our vision to say that we are a smart card and payment solution provider. We have not done very well in that regard; however, we believe that we might not meet the 2020 target but before 2023, we will be 50 per cent digital and 50 per cent smart card. It depends on what the future holds. We might at some point if we are not able to sustain this, we might go to the stock exchange to enlist the company. Already, we are being approached by foreign investors who want to buy into the company so we might decide to sell off to them at some point or the other, but that is a decision that has to be taken by my shareholders not myself.

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Zola Electric Launches Distribution Scheme for Market Penetration Peter Uzoho Zola Electric, one of Africa’s major renewable energy providers has launched its distribution scheme to drive market penetration and access to its products in Nigeria.

Zola’s flagship solar power solutions -Flex and Infinity, have been gaining traction in the Nigerian and African market since their introduction in 2019, to help the company achieve its desire of providing clean, effective, and reliable power across Nigeria and the contingent.

The company disclosed to journalists in Lagos yesterday that it has signed into its distribution network some of the leading distributors of solar and renewable products across Nigeria and has opened its doors to onboard even more.

They include Blue Camel, a leading provider of renewable energy solutions including PV panels, solar streetlights, solar home systems and a major distributor for global solar brands.

It said other firms including Blackain, Blackbit Solar, Shokenny Solutions, Enersys Energy, Solarmate Energy, and SOSAI Renewables are already in different stages of the distribution partnership.

The renewable energy solutions provider said signing on distribution partners will contribute significantly to help bridge the huge electricity supply deficit in the country by expanding access to Zola’s innovative power solutions across the country. Zola further explained that the move was part of its efforts to boost its current market operation.

It added that it will as well provide reliable power solutions to markets that lack energy access and make it possible for homes and businesses across Africa and anywhere in the world to generate, store and consume energy sustainably.

Speaking at the media parley, the Acting Managing Director, Zola Electric Nigeria, Mr. Olufemi Ashipa, said the solar space in Nigeria had come a long way from the days of using dirty and expensive power resources to clean energy sources, offering modular and scalable technology.

According to him, “Since many customers do not have existing appliances, ZOLA is able to offer a closed loop system that guarantees a certain baseline of performance and runtime.

“At ZOLA, we are driven by the desire to provide Africa’s most extensive off-grid renewable differentiated power solutions to people anywhere”.

Ashapa stated that the company understands that power was pivotal to accelerating the overall socio-economic development of the continent and responded by designing the Zola Infinity and Zola Flex, for this purpose.

He added: “The Zola power solutions help to provide customers with steady electricity

supply in any situation.

“The Zola technology driven solutions backed with superior power storage and dynamic energy charging system, were conceived at Oxford University, and designed in Silicon Valley. They are easy to install, scaleable and help the average home or business bridge their power deficit.

“With Zola currently powering more than one million people; comprising over 200,000 homes and businesses across Tanzania, Rwanda, Côte d’Ivoire, Ghana, and Nigeria, we are poised to actualise our objective providing 24 hour clean power anywhere and help the continent realise her untapped potentials.”

NEWS

Afreximbank Closes Historic $1.3bn Bond The African Export-Import Bank (Afreximbank) yesterday announced that it has successfully closed a $1.3 billion dual tenor bond issuance, the bank’s largest-ever transaction in the international debt capital markets.

Afreximbank printed a $600 million 5-year note at a spread of T+185 basis points (bps) and a $700 million 10-year note at a spread of T+220bps, after achieving a final order book of $4.5 billion.

A statement explained that the Initial Pricing Thoughts (IPTS) were announced at T+220bps area and T+250bps area for the 5-year and 10-year tranches, respectively.

It noted that backed by strong demand, the combined books peaked at $5 billion, with a slight skew towards the

5-year tranche, seeing pricing set at T+185 bps to a re-offer yield of 2.634% and T+220bps to a re-offer yield of 3.798%, respectively.

“The 10-year tranche was finally priced at only a 5bps New Issue Premium (NIP), while the 5 year was priced flat to fair value.

“Afreximbank Advisory and Capital Markets (ACMA) acted as Sole Financial Advisors on the transaction, while Afreximbank partners in arranging the transaction were HSBC Bank plc as Sole Coordinator and Joint Lead Manager/Book Runner as well as MUFG, Emirates NBD Bank PJSC, Commerzbank and Standard Chartered Bank as Joint Lead Managers and Book Runners.

“The transaction is a major milestone for Afreximbank,

marking the second time that the Bank has accessed the 144A US market and is the Bank’s largest transaction in the debt capital markets to date.

“It fulfils a number of key objectives of the Bank’s Liability Management strategy, which include diversification of the liability book by geography, investor type and tenor as well as reducing cost of funds,” the statement explained Speaking after the closing, Afreximbank’s Executive Vice President responsible for Treasury, Mr Denys Denya said: “This landmark deal confirms continuing investor deep confidence in Afreximbank’s mission and credit story, and achieving competitive pricing for both tranches is testament to the strength of

support from investors from all key financial markets across the global.

“Importantly, the success of this transaction enables the Bank to continue to play a major role in the development of intra-African trade as well as trade between Africa and the rest of the world.

“The closing of the transaction is evidence of the Bank’s growing capability to harness competitively priced long dated resources into Africa and fund investments that will have a positive impact on trade in the continent.”

Prior to pricing the transaction, Afreximbank met with both new and existing investors during well-attended virtual roadshows covering the Africa, Gulf countries, Europe, Asia and USA.

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ANALYSIS

Driving Remittance Flows in Africa Dike Onwuamaeze writes on efforts to increase the flow of Diaspora remittances into Nigeria in particular and Africa in general

T

he Global Director of the Social Protection and Jobs Global Practice at the World Bank, Mr. Michal Rutkowski, recently highlighted the importance of remittance flows to the financial survival of families that were stricken by the impact of COVID-19 pandemic disease that plagued the world economy in 2020.

Rutkowski, said in the World Bank’s report titled: “Defying Predictions, Remittance Flows Remain Strong During COVID-19 Crisis,’” released recently, that, “as COVID-19 still devastates families around the world, remittances continue to provide a critical lifeline for the poor and vulnerable. Supportive policy responses, together with national social protection systems, should continue to be inclusive of all communities, including migrants.”

The World Bank’s release also stated that Nigeria accounted for 40 per cent of remittance flows into Sub-Saharan Africa in 2020 by receiving over $16 billion out of an estimated inflow of $42 billion to Africa.

The bank forecasted in the report that global remittance flow to low- and middle-income countries would increase by 2.6 per cent to $553 billion in 2021 and by 2.2 per cent to $565 billion in 2022.

It stated: “In 2021, remittance flows to the region are projected to rise by 2.6 per cent, supported by improving prospects for growth in high-income countries. Data on remittance flows to Sub-Saharan Africa are sparse and of uneven quality, with some countries still using the outdated Fourth IMF Balance of Payments Manual rather than the Sixth, while several other countries

Uzoka do not report data at all.

“High-frequency phone surveys in some countries reported decreases in remittances for a large percentage of households even

while recorded remittances reported by official sources report increases in flows.”

The bank attributed the shift from informal to formal remittance channels to the closure of

borders, which explained in part the increase in the volume of remittances recorded by central banks.

In Nigeria, the Central Bank of Nigeria (CBN) recently introduced series of reforms that would encourage remittances inflow into the country through the money deposit banks (DMB).

In line with this initiative, all recipients of diaspora remittances through CBN’s licensed International Money Transfer Operators (IMTOs) would be paid N5 for every $1 received as remittance inflow.

The apex bank had explained in the circular, “The CBN shall through commercial banks, pay to remittance recipients the incentive of N5 for every $1 remitted by sender and collected by the designated beneficiary.

“This incentive is to be paid to recipients whether they choose to collect the United States dollar as cash across the counter in a bank or transfer same into their domiciliary account. In effect, a typical recipient of diaspora remittances will at the point of collection, receive not only the USD sent from abroad, but also the additional N5 per USD received.”

Providing more insight into the new policy, Emefiele had said it would offer Nigerians in the diaspora a convenient way to send remittances, adding that it would also aid diaspora investments.

He explained, “Our policy on the administration of remittance flows is aimed at increasing the transparency of remittance inflows, reducing rent-seeking activities,

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DRIVING REMITTANCE FLOWS IN AFRICA and providing Nigerians in the diaspora with cheaper and more convenient ways of sending remittances to Nigeria.”

However, Emefiele said, “Yet, the introduction of the new policy presented new challenges, as operators and remittance service providers were initially unable to integrate with the agent banks.”

Accoring to Emefiele, the reforms were introduced because increased diaspora remittances into the country would support the economy and help reduce the impact of the COVID-19 pandemic on the Nigerian economy.

He stated that inflows of about $10 billion to $15 billion would have significant effect on the economy.

Emefiele said: “Since I became the CBN governor, I have been hearing about the size of diaspora remittances; some say $20 billion; in fact some say it’s about $30 billion.

Honestly, I have been looking for the $30 billion or $20 billion, I have not seen it.

“But this time I have decided that I will focus to see those billions of dollars. You know what, I am not only expecting $20 billion, if we get even up to $10 to 15 billion, I can tell you it can help the Nigerian economy.

“Pakistan, Indonesia and others generate average of $2 billion monthly in diaspora remittances and this has helped to reduce the impact of COVID-19 on their economy.”

Among the Nigerian commercial banks that have keyed into the central bank’s vision of increasing diaspora remittances via the formal channel is the United Bank for Africa (UBA).

The UBA has introduced a bouquet of products that would accelerate remittances, transfers, trade and commerce into and from Nigeria in particular and Africa in general.

These products are Africa Money Transfer Service (AMTS), Africash and the UBA Connect that enable beneficiaries of foreign remittances to get the amount in the currency of the country at point of receipt seamlessly in 20 African countries.

These money transfer products were developed by the UBA to aid money transfer across Africa. The bank said that a client could use the AMTS deposit, transfer and withdraw cash in local currencies across 20 African countries.

Similarly, the Africash would enable the UBA’s account and non-account holders to send and receive money in local currency from all of the bank’s branches in Africa.

But transactions under this product would require a duly filled Africash form, the Bank Verification Number (BVN), a savings/current account with the bank. But non-account holders would be required to have a valid means of identification while the receiver should have the PIN code provided by the sender to collect funds.

Moreover, the UBA Connect, according to the bank, “allows our esteemed customers the option of sending or receiving money across 20 African countries with ease. This service is also available to account and non-account holders of the bank.”

However, they must arm themselves with a duly completed UBA Connect send, receive or transfer form as well as a valid means of identification, which could be an international passport with visa or migration stamp for members of the Economic Community of West African States (ECOWAS).

The bank explained: “As part of our goal to become the number one bank in terms of customer satisfaction and in line with our customer first philosophy, the UBA has partnered with top international money

In April, our cumulative transaction count was 33,000 and the amount remitted through UBA was about $14.03 million. We remain committed to providing ease and convenience for money transfers across the world

transfer operators and have created an Africa money transfer service to ensure you can conveniently send and receive money from anywhere in the world.

“Through our remittance partners, you can receive money directly into your UBA account or pick up cash at any of our branches nationwide.”

Currently, the UBA is also collaborating with 14 International Money Transfer Partners (IMTP) in a bid to ensure the ease and convenience of transfers from anywhere in the world.

The money transfer partners the bank is working with are the MoneyGram, the Western Union, Ria Money transfer, World Remit, Flutter Wave, AFTAB (Ace Money Transfer) and the Cash Pot. Others are Colony Capital (Fincode), Swift Payment, Naira Gram, IDTPS Boss Resolution, SmallWorld, Sendwave and Omnex.

Some of the basic futures of the IMTP are safe and secured services that allow the beneficiaries receive transfers within minutes. Their services are also available to the UBA account and non-account holders at competitive rates and fees.

They also allow customers to receive their money in Naira or Dollars.

The World Remit transfer operator has no minimum amount for transfer. However, the initial transaction is subject to a maximum of $2,000, while the maximum limit per transaction is $7,500. But the total transaction must not exceed $50,000 every six months.

It attracts no charges to the beneficiaries.

The AFTAB (Ace Money Transfer) has no minimum or maximum limit when it comes to sending money with ACE. One of the uniqueness of the UBA’s remittance services is that they do not require tedious conditions from clients to either send or receive money through its IMTO partners.

Its basic requirements for intending beneficiaries are a duly completed form indicating ones preferred IMTO service provider. Others are Bank Verification Number (BVN), a savings or current UBA account, valid means of identification for non-account holders, which could either be a National I.D card, international passport, drivers licence or Nigerian voters card.

Scope of Remittance Services The bank explained in a statement that UBA remains one of the leading banks in terms of remittance services across Africa.

It i currently ranked number two in Money Gram, and number three in Western Union and Ria money transfer services respectively.

“In April, our cumulative transaction count was 33,000 and the amount remitted through UBA was about $14.03 million. We remain committed to providing ease and convenience for money transfers across the world.”

The President of Afreximbank, Dr. Benedict Oramah, has suggested that diaspora’s participation in the Nigerian economy could be enhanced through specialised funds and accounts that would encourage them to save their long-term funds in Nigeria.

He said: “Africans and Nigerians can consider allowing special diaspora foreign currency accounts with higher interest rates than the US or Europe and with an inbuilt guarantee against potential losses from bank failures and country risks.

“Afreximbank would be happy to work with authorities to put in place a country risk guarantee that can be retailed to diasporans depositing money in such foreign currency account. We have done something similar in Zimbabwe.

“Secondly, designated commercial banks may be encouraged to implement diaspora targeted certificates of deposits that can be liquidated in local currencies or foreign currencies with built in incentives to encourage liquidation in local currencies.

“Thirdly, is a properly structured diaspora fund that can be issued with eligible bond holders encouraged to open coupon payment accounts locally in Nigeria to enable them cover local expenses and support their relatives at home.”

Oramah stated that by creating the requisite environment, diaspora remittances could become a catalytic force that would break the development barriers and rapidly transform the country and the continent.

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INTERVIEW

Fawibe: NCDMB Should Give Priority to Local Firms in NCDF Utilisation Last month made it 11 years that the Nigerian Oil and Gas industry Content Development (NOGICD)Act was enacted and without doubt, the past 11 years had been a mixed bag. One major player in the local content orbit of the nation’s oil and gas industry, who knows of every corner of the NOGICD room, is Dr. Diran Fawibe, Chairman/Chief Executive Officer, International Energy Services Limited (IESL). A pioneer staff of the Nigerian National Petroleum Corporation (NNPC), Fawibe is one of the early founding fathers of Nigeria’s national oil company. As one of the few, who erected the fundamentals that hold the architecture and superstructure, that is today’s NNPC, Fawibe, who looms large in the local content arena of the oil and gas community, says there are some areas of interventions that deserve more attention; especially concerning access to support fund by the indigenous oil services companies. With over five decades of active service to the industry, Fawibe is a doyen of the hydrocarbon industry, not only in Nigeria, but in the global community; so his views are taken seriously in the industry. Kunle Aderinokun and Chris Paul engage this quiet, but noble encyclopediaandroadmapofAfrica’slargestoilproduceronissuesconcerningthestateofplayinthecontroversy-ridden industry. He is blunt in saying the bitter truth, but appreciative of progress made thus far. Excerpts: What is your take on the impact of the COVID-19 pandemic on the Nigeria’s oil and gas industry?

It is easy to state that the Nigeria Oil and Gas industry has been very much affected by COVID-19.

But the problem of the industry started before the pandemic; and it is anchored on one single factor; the PIB. The Petroleum Industry Bill is a critical factor in the development of the industry.

Through this piece of legislation, solutions to the industry crisis can be tackled effectively.

Various stakeholders have said severally that a situation where uncertainty is permeating the atmosphere, it will be difficult for investments to flow into the industry.

For many years now, we have lost the opportunity to put the industry, particularly the upstream on a sound footing; whereby investments will be made. Nigeria is reputed to have lots of reserve particularly in the deep water terrain.

Nigerian indigenous companies are trying but they don’t have the financial wherewithal, the resources and even the technology to be able to exploit the resources in the deep water space. So, the IOCs that have the technology and the deep pockets, who can invest in and develop the assets therein have complained time without number about the absence of the legislation governing the industry; particularly the fiscal regime.

We have some issues in the system that have made them complain that Nigeria has been shortchanged in the income distribution especially; as it relates to the industry. But I don’t know whether they have actually done the country much good.

Because if you look at what has happened over the last 10 years, with the loads of Investments that have left Nigeria... some of the IOCs have even divested and taken the money to other countries.

This has not helped us as a country.

We have heard so many promises and assurances that the bill will be passed into law. Now that the global attention to oil is shifting to renewable, I fear we may find ourselves in a dilemma as the appetite for oil is no longer as strong as it used to be.

Some of the IOCs are now putting some of their money in the development of renewable energy.

Another problem that predates COVID is the price. Since 1973 when we had the first energy crisis, the price of oil has never been stable.

If you look round now, you will find that most of the IOCs are practically doing nothing. As a matter of fact, most of the indigenous companies are doing far better when it comes to activities. I don’t want to single out firms but check out the American companies; how much are they doing?

When you visit their offices now, they are like ghost towns.

Save for Shell that is working on the Bonga South-west etc, their counterparts are not doing as much. Total is trying. We did a roadshow with some of the companies with my partners from France, shortly before the COVID. We visited practically all the IOCs: Shell, Chevron, ExxonMobil, Total and so on. And they all told us, point blank, that they are not doing much because of the constraints they have; among which, are the fiscal regime operating in Nigeria and the impact of a PIB that does not give them certainty.

To make matters worse, the Nigerian government accused them of stealing $62 billion.

Many of us criticised the government for making such a claim because if you had an agreement with

Fawibe a company under a memorandum of understanding (MoU) that when the price of crude oil reaches a particular level, you will reach an arrangement. But when the price exceeded that threshold, you went to beg. Now, because you are hard-up cash-wise, you now ask to return to the previous arrangement. It doesn’t make any sense. And I am not surprised that nothing came out of it. But that probably damaged the relationship.

If you have a partner that has been working with you for upward of 50 years... It’s like a marriage.

A marriage you contracted over 50 years ago and only for you to come now and say, your wife or husband is a thief; calling him or her names openly... How do you expect such a spouse to feel?

So, instead of appointing a consultant to look into the issue and have a serious dialogue to iron out the differences, Nigerian government resorted to shouting on the rooftops.

Any company that has pride will say, it’s time to go home.

But the companies will tell you that ‘ oh , we just want to concentrate on our deep offshore or we are adjusting our portfolio... but indeed, they are divesting and taking the money elsewhere.

And that is what is happening. So, I believe that COVID is a marginal fraction of the issues plaguing the industry.

There are projects that should be going on that have been placed on hold because the expatriates of the companies are staying back home due to the COVID. But I also know that many work from home.

You inferred that the indigenous companies performed better than the IOCs. How do you mean?

Let’s put it this way; in terms of the scale of operations, the IOCs are doing better because the

indigenous companies are faring much lower. But the most active indigenous company so far in terms of activities is Seplat. And they are doing very well especially regarding gas development.

Then we have some other companies such as Aiteo, Platform among others that are also doing well in their operations; and when you look at it, it would seem the impact of the COVID did not affect them. This is because they recognise that they have to maintain a certain level of operations; otherwise they are out.

The IOCs, too, are still operating; but elsewhere.

For instance, ExxonMobil is putting a lot of investments in East Africa. Or, in Ghana where they are developing huge gas reserves.

Although, the finances of these companies are not looking too good at this time. But to my mind, the company that is on the verge of doing something big in the country, today, is Shell.

It is succeeding in renewing its lease on the Bonga South-west and it is looking like work may resume later this year. When you are bringing a project of $8-$10 billion into an economy, it makes a significant statement about the company and the economy.

Back in 2012, Shell had a 10-year plan to partner with the Petroleum Technology Association of Nigeria (PETAN) for the implementation of certain upstream projects as its commitment to the development of local content in the country. What’s the progress on that front now?

Developing local content objectives depends on availability of projects on the IOCs’ table. For instance, this will be about the third or the fourth time the project will be coming into the market.

In 2015, the project was to go into operation; but in 2016, the industry got the shocking announcement that the project has been put off or postponed. So,

local content development with such a company cannot be advanced in a vacuum.

It has to be on the basis of a project that they can ride on.

Some time ago, and I believe they still do, Shell had an internship programme, whereby PETAN members are asked to submit names of young engineers. These young industry operatives are then engaged for as long as one year; and they can be as many as 20 young engineers distributed across the oil companies. Shell takes responsibility for paying the salaries of the trainees for the period.

After the training, the beneficiary companies are encouraged to keep them. We have quite a number of them here, in our company. Some of them are reported to be performing very well.

So, this is part of the effort being employed by Shell to develop the local content in the country.

I am using this to illustrate my point about the contribution of IOCs to developing indigenous oil companies in the country; when it comes to manpower development.

The Nigerian Content Development Board has been more proactive when it comes to taken local content to higher heights. But we could have done much more. All these efforts would have been more visible and more impactful, if the industry had been busier. I recall, when we were doing some projects for Chevron, we took in as many as 30 people. Take Egina FPSO; the three companies IESL, NETCO and Delta Afrique, we took 33 engineers under that project. So, these are among the things that happen in the industry.

When we did the Akpo, Ofon Projects, they approved budget for training Nigerian Engineers.

In the arrangement with the IOCs, they have to set aside a budget for developing Nigerian engineers.

On the back of this, many services companies tend to put up facilities for the fabrication of all manners of projects.

Therefore, if the industry is not busy, obviously there won’t be much local content to develop.

Are you happy with the state of the local content policy 11 years after?

I would say relatively so. I have mentioned the underlying problems. I would also let you know that the NCDMB is progressively proactive in trying to develop local capacity, particularly manpower.

And we are doing far better today, than we did 10 years ago.

We can point to so many things that Nigerian companies are doing today that they could not do 10 years ago. We were able to get here because the NCDMB was doing a great job of going everywhere; sensitising the industry and ensuring that those things that could not be achieved before in the industry are accomplished easily today.

The one reservation I have, however, is the fact that I wish the NCDMB would give greater priority to the needs of the local content companies in the area of the utilisation of the Nigerian Content Development Fund.

Some PETAN members are finding it difficult to access the fund. Although, the agency is using the fund to support other areas, but this is an issue of concern that I would like them to give some attention.

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

WEDNESDAY MAY 19, 2021 • T H I S D AY

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First Lady, Dr Mrs Aiha Muhammadu-Buhari (3rd left) and her Children during Prayers to celebrate 2021 eld-fitr held at the State House...recently

PHOTO: STATE HOUSE

Chairman, Langtang North Local Government Area of Plateau and Patron Plateau State Vigilante Group of Nigeria, Mr Ubandoma Laven (2nd left) receiving Vigilante Group of Nigeria flag from State Parade Commander, Vigilante Group of Nigeria (VGN), Prince Barnabas Philip, during the decoration of the Chairman as their new State Patron of VGN in Langtang Local Government Area of Plateau State...recently

L-R: Edo State Chairman, Nigeria Supreme Council for Islamic Affairs, Alhaji Abdulazeez Igbinidun; Edo State Governor, Mr. Godwin Obaseki and the Chief Imam, Benin Central Mosque, Alhaji Abdulfattah Enabulele, during a visit by the Muslim community in Edo to the Government House in Benin City...recently

Chief Strategy Officer PSEM, Goodness Onyejiaku; Director, PACE Sports and Entertainment Marketing, Sola Fijabi; Managing Director, Beiersdorf NIVEA Consumer Products Nigeria, Godwin Harrison and Senior Associate Retail Services, PSEM, Isabella Afesumeh during the donation of free hand sanitizers to the organizers of HiFL, Pace Sports and Entertainment Marketing Limited (PSEM) in Lagos...recently

Editor-In-Chief of NAN, Mr Silas Nwoha (right), and the Elejesi of Ife Kingdom in Osun State, HRM Awosunle Tokunbo, during the latter’s visit to NAN headquarters in Abuja...recently

L-R: Speaker, Abia State House of Assembly, Rt. Hon. Chinedum Enyinnaya Orji (left) and former member of House of Representatives from Bende Federal Constituency, Abia State, Hon. Nnenna Elendu Ukeje during Hon. Ukeje’s visit to Speaker’s office in Umuahia…recently

L-R: Director General, National Institute of Police Studies, Mr. Olu Ogunsakin; Deputy Inspector General of Police, (DIG) David Folawiyo; and Chairman Senate committee on police affairs, Senator Halliru Jika, at the graduation ceremony of the Forty assistant commissioners of police of the strategic leadership and command course in Abuja....recently

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L-R: Member Council of Elders Nafsat, Alhaja Nofisat Arogundade; Secretary Women Affairs, NAFSAT, Alhaja Suwebat B. Kupolati; Chief Missioner, NAFSAT, Imam Abdul Azeez Onike; Publicity Secretary, NAFSAT, Alhaji AbdulAkemm Yusuf; and Welfare Secretary, Alhaji AbdulRahman Olarinde, after the Nasir Lahi (NASFAT) Eid El Fitr prayer to mark end of 30 days Muslims fasting at Old Secretariat, Ikeja...recently PHOTO: KOLAWOLE ALLI

Children of Orphanage and Similar Children Foundation, during a procession to mark its annual feeding of 2000 disadvantaged children, in Lagos...recently

Director General, National Youth Service Corps (NYSC), Brig.-Gen. Shuaibu Ibrahim(right), presenting award of partnership to the Executive Director, Mind the_gap, Mr Tayo Olosunde, during a launch of NYSC Community Development Service activities for 2021 and Director-General Award in Abuja...recently

Nigeria Motorsports Captain, Oladapo Oyebanjo aka D’Banj (middle) and his team, after their inauguration, during the unveiling of Racing Nigeria Motorsports Games in Abuja...recently

L-R: Former Chairman, Federal Inland Revenue Service, Ms. Ifueko Omoigui Okauru and Edo State Governor, Mr. Godwin Obaseki, during a funeral mass in honour of late Nowamagbe Omoigui, at St. Paul Catholic Church, Benin City...recently

L-R: Special Adviser to Enugu State Governor on Innovation, Science and Technology, Mr Elvis Obi-Nwankwo; Commissioner for Science and Technology, Mr Obi Carl-Kama; and Chief Executive Officer of InfoSoft Technology Process, Chief Pius Okigbo, during Enugu Tech Stakeholders Roundtable, in Enugu ...recently

L-R: Member of the House of the Representatives, Beni Lar; Wife of the first Civilian Governor of Plateau State, Prof. Mary Lar and a family member, Keffas Lar, during the 86th Birthday thanksgiving service for Prof. Lar in Jos...recently

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EDUCATION Establishment of Science Village will Ensure Innovation in Nigeria, Says Adepelumi In this interview with Funmi Ogundare, a Professor of Geophysics and Earthquake Seismology, Department of Geology, Obafemi Awolowo University, Ile-Ife, Adekunle Adepelumi explained how Nigeria can move foward technologically with the establishment of a science village in the country, that will witness the convergence of geniuses from the secondary school up to university levels, for innovation, among other issues. Excerpts:

A

the nation. Not politically influenced, so that bright ones from the north, from the east, north-central, west, whether they are Igbos, or Yorubas, are brought there and we can move forward as a nation, as it is, we don’t have such in Nigeria.

s a pioneer of earthquake engineering, what effort have you made in ensuring that the course is accepted by the National Universities Commision (NUC), considering the fact that students sometimes do not go into such field for fear of not getting employment?

Let’s assume I am the pioneer, we have had people in the early 70s, but they were not able to achieve much, and no Nigerian university is offering it as a course. It is a course that is very relevant to Civil Engineering, Structural Engineering, Geology, Geophysics and Building Technology. As at today, one of the professors at Abubakar Tafawa Balewa University (ATBU), Bauchi, and former Director General of Nigerian Building and Road Research Institute (NBRRI), Professor Danladi Matawal is a structural engineer. He did his sabbatical at NUC in 2009, and he did all he could to have this course integrated into the curriculum of Nigerian universities, but as at now it is still in the foundation stage and effort is being made to push it to the NUC. The course is new to our environment and it is very vital. Approval has not been given, but effort is being made, one or two people that I know.

Why do you think things are too slow?

That I cannot answer, but effort is being made for approval to be given by the NUC so that this course is integrated. In advanced countries like Japan, South Korea, America, you cannot build any house without carrying out proper earthquake engineering investigation of the environment where that is being done. But in this part of the world, even for building of refineries and other projects, they usually bring in expatriates from Europe, America and Asia to do the studies. We have shortage of personnel in Nigeria in that field, but effort is being made now to train young Nigerian graduates overseas and in Nigeria.

ATBU Bauchi is making efforts to integrate it into their civil engineering course, OAU is also making efforts to integrate it into its Geology and Geophysics courses, but it is not established yet. At the background, we are still teaching it. There is shortage of the facilities and also shortage of the personnel in the country that are skilled in the area of earthquake engineering.

A national conference on earthquake was supposed to have been held in Abuja, but was halted, what effort is being made by the government to converge a fresh one?

The Federal Government of Nigeria has set up a presidential committee on this and a presidential inter-ministerial committee with six ministers, myself and others. At the end of the day, we were able to come up with a proposal for Nigeria. I am not permitted to disclose some things, but a report was submitted by us to the federal government in the second week of May 2019, an approval was given

by Federal Executive Council (FEC) and a white paper was issued from that. So I can say things are in progress. Like I said within the shortest period, maybe before the end of the year, we will see physical manifestation. So I believe things are a bit slow, but everything is in process.

Do you believe that everything is truly in progress and has not been politicised?

I strongly believe that it has not, because I have seen the green light. I have seen some agencies in Nigeria, where funds have been released to them, which is part of the recommendation of our presidential inter-ministerial committee, with the approval given by FEC. Some agencies have received funds to buy more

Adepelumi equipment to train their personnel and do more geological work in some areas. Funds later will be released to the education sector. It is part of the recommendation that the education sector in each geo-political zone will receive funding along the line of earthquake engineering or earthquake science. We are in the stage of implementation and it will be implemented as soon as possible.

Training PhD students in the field of science, funding research and carrying out state-of-the-art experiments is seen as a big challenge in Nigeria, what can universities do to overcome this challenge?

Training in the area of STEM, in the field of engineering and hitech science involves money, and you know the exchange rate from naira to dollar as at today. Training like I said involves money. And for you to train engineering and science students in this area, there is something in place that is called TETFund. It is a good idea, but TETFund is being given to lecturers that are in the universities. They work in collaboration with their PhD students. But there are some undergraduate students that are pretty smart, there are masters students that are also pretty smart. I prefer a situation where a student is attached, for instance, the Ministry of Science and Technology, under Dr. Ogbonaya Onu has done a lot along that area.

What I am trying to say is that identifying very bright students, even at secondary school level, it doesn’t have to be university, PhD or masters. There are ways of identifying students that are very good in Physics, Mathematics and Chemistry that can do innovative things.

I lived in a city called Daejeon in South Korea, which simply means Science Town. I lived there for 16 months. Once you are identified as a genius; academically you might not be a genius, but scientifically or engineering wise, you may be a genius. Once you are identified, that is what I am proposing, that Nigeria should do what they have in South Korea. I was in Los Alamos in USA, that is a different world entirely. In Los Alamos, you will not see anybody on the street. Everybody virtually stays underground and research is

going on. You are talking about training, it is for Nigeria to establish what is called a Science Village or Science Town. I mentioned South Korea as an example. In the science village, it doesn’t have to be PhD holder, we have had cases where people get money from TETFund, from government and nothing is coming out of it. We identify this science village, it could be anywhere, we don’t have to multiply or duplicate. Just one, located in a good area, and good students from secondary school level to university; undergraduate, masters and PhD students that can do innovation technology are brought into that village. Their own education will be in that place. So that they can think, birds of a feather can flock together. They are talking about the vaccine for COVID-19, such a thing could be done there. Somebody in the eastern part could have an idea, somebody in the western part could also have an idea, as well as somebody in the northern part or north-central. If they are able to identify these set of human beings, the way it is done in Los Alamos in USA, the way it is done in Science Town in South Korea, we can move forward.

They are brought there, so they can think alike, work alike, what I am thinking, you are thinking and they can merge it together.

As I said it is not for every student, it is for the genius; the bright ones. Those ones that can see in fourth dimension, not two or three dimensions. It is shameful that as at today, virtually everything that we are using in our nation is being imported. What are we investing and what are we producing? I am sorry, I am a professor in the university but what are we producing? We are just graduating students. About a month ago I was talking to a student, he is a graduate. And he told me he just wasted his five years in the university.

He came to meet me where I was, he said he got a second-class upper. I took him to the field, and the boy was almost practically useless. He made a 2.1. So what I am trying to say in essence is that if Nigeria wants to move up technologically, bright students from the secondary school level up to university level should be identified, a science town or a science village should be established in

How do you think the country can encourage the youths in ground breaking research that will impact lives and livelihood?

Part of what the government could do is to give them incentives. I got my PhD in Brazil.

They say Brazil is a third world country, but I disagree. I got my PhD there in 2003. Brazil is one of largest producers of helicopter and aeroplane in the world. Now what am I trying to say? How can we encourage the youths? I entered the university and from day one they told me I was going to spend five years. And for the five years, my breakfast, lunch, and dinner, all my books, school fees was on the bill of the government. When I was to do my thesis, everything about my thesis was under the Ministry of Science and Technology. So it is not anybody that they give admission in their own science and engineering. Very bright students are identified and admitted. So you are not thinking that I want to buy anything, the government will give you the incentive.

I go online, I see this book, I can’t remember the number of books that the government of Brazil bought for me as a Nigerian. I just go to my supervisor and tell him, I have seen these two books, I think they are relevant to my work, before you know what is happening, the man has ordered for the books.

That is incentive or you call it scholarship, but all their citizens that are ready to learn are placed under the scholarship scheme. So even secondary school students that are ready to learn are paid money every month. That is an incentive, you are given money every month, they call it stipends. Every month, they are given that stipend and I have free lunch.

Why can’t I think? I want to buy a book or any other thing. As a student from Brazil, I went to America seven times. Why won’t I have the incentive to think? My supervisor sent the entire class to University of New Mexico in Albuquerque for 33 days. And that was in 2001 and each student in my class; PhD and masters, we were 71 and we were given $250 per day in 2001 for period of 33 days.

And I was paid cash. I had never seen that type of money in my life. It was there they took us to one George Jiracek at the New Mexico in Albuquerque. And they trained us, explained things to us and I was going back to Brazil with more than excess money in my pocket. What I am trying to say is that one of the ways that government can encourage bright students is to give incentive. When I say incentive; free education, it helps a lot. The money is not there, you are investing in education, you are investing in knowledge, you are investing in the future of the nation. And they are given stipends, not stipends quarterly; it used to happen when I was doing my masters at Obafemi Awolowo University. As a masters student, my school fees was written off. They identified some good students, I am not saying I am good, but some good students were identified and at the end of the day we were not paying school fees. At the end of each session, maybe it was N1,200 that was given to us, it was a lot of money. Because school fee was about N120 and we were given as masters students N1,200 each at the end of the session. It was an incentive, it was through that process that I became a lecturer in the university. If they are given financial incentives, books incentive, it will encourage the good ones. It is a way of encouragement.

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EDUCATION

Gov Emmanuel ICT Experts Seek Inclusion of Digital Bemoans Strike by Marketing, Branding in Secondary, AKSU Lecturers Tertiary Education Curriculum Okon Bassey in Uyo Akwa Ibom State Governor, Udom Emmanuel has expressed worry over the indefinite strike by lecturers of the state owned tertiary institution, the Akwa Ibom State University (AKSU).

Reacting for the first time since the strike that started more than a month now, the governor argued that lecturers in the university were among the highest paid in any tertiary institution in the country.

Emmanuel said this while addressing the state on the eighth series of his radio and television programme ‘The Governor Speaks’.

He observed that the lecturers started complaining when university management began to ensure that

salaries of lecturers were in line with the one approved by the National Universities Commission (NUC).

“I give the Akwa Ibom State University N327 million every month as grant.

Also, going by the figures I have, lecturers in AKSU received the highest salaries anywhere in the country.

“For sustainability, I decided that we align with the NUC salary scale applicable everywhere in the country, that is the crux of the disagreement.

“Moreso, AKSU has two different staff unions and that is not the fault of the state government.

“I am optimistic these issues will be resolved, I have set up a panel of enquiry to that effect,” the governor stated.

Bassey Inyang in Calabar The Director and CMO of Activecode Business Hub, a forex, ICT based/digital marketing company, Mr. Kelvin Akparanta, has called on the federal government to, as a matter of urgency, include technological skills like digital marketing and branding into secondary and tertiary education curriculum.

Akparanta said this during the pre-launch press briefing of his book ‘Everything Personal Branding and Digital Marketing’ in Calabar recently.

He disclosed that the book took a meticulous nine year research before it was documented in book form from 2019 to 2020.

Akparanta said he believes that digital skills should be taught as basic subject/courses

in Nigerian schools.

“The book, ‘Everything Personal Branding and Digital Marketing ‘has been in development since 2019. It was finally ready at the fall of 2020 but got published in 2021. It is a masterpiece of two years of meticulous research and over nine years of personal experience all embodied in the subject matter “The idea is to create a perfect resource for beginnerto-advanced profesionals and digital marketers looking to learn new skills or improve on existing ones.

“The e-version of the book is in the works and would be in major Nigerian and foreign languages, Igbo, Yoruba, Hausa and of course French to cater for the needs of the French speaking parts of Africa,” Akparanta said.

Disclosing that he has consulted for major brands in Nigeria, including Carnival Calabar, the ICT expert said his book, when put into practical use can curb unemployment to the barest minimum.

“Personal branding is important in today’s economy because you are the most important selling point of your service/ product.

“If the basics of personal branding and the importance of it are inculcated in the minds of young people, they will grow up being stronger and better career professionals and business tycoons.

“Millennials are changing the way we are thinking. Especially those that graduated during the recession. Imagine getting an expensive degree, then having to go live in your parents’ house as there are no jobs for you.

“So, if the Nigerian government can look into this, I believe we will be building the next set of world class professionals and business generation.

“I hereby implore the minister of education to explore ways on how to make these assertions a reality. Take a look at huge multi-national IT companies like Google, Amazon and so on that are creating their own curriculum, changing the narrative in technology because they believe that the future is digital and it all starts with personal branding,” Akparanta said.

Emphasising the uniqueness of digital marketing and branding, he said the skills can be applied by lawyers, engineers, farmers, civil servants, accountants, politicians, business owners medical doctors and many others in plying their trade.

Special Needs Students Show Arts Prowess at Anthos Treasures Exhibition Uchechukwu Nnaike Students of Anthos House, Lekki, Lagos, a school for children with special needs, recently reaffirmed the saying, ‘there is ability in disability’ when they displayed various art works, furniture, jewelries and other items they created, to the amazement of parents, arts enthusiasts and other guests.

The items were made from recycled eco-friendly materials.

Speaking at the two-day Anthos Treasures Arts and Craft Exhibition, organised by the school, the Head of Anthos House, Dr. Kimberly Scollard called for love, opportunity and support for people with special needs to enable them attain their full potential.

Scollard, who expressed confidence in the abilities of the students, described them as brilliant, funny, kind, caring and smart. She regretted that people often question their abilities.

“They have so much to offer, yet they are left by the roadside because they act differently or look differently or have some diagnosis that other people define them.

We don’t define our students based on their diagnosis;

our students do not define themselves based on their diagnosis, they learn like everyone else, it may take them longer, but they are incredible.”

In her remarks, the Executive Director of Greensprings School, Mrs. Lai Koiki, said she was impressed by the handiwork of the students.

“Apart from the work that is beautiful, the confidence that the children have to show visitors around, to explain the works to them is unbelievable, unimaginable, wonderful.”

A parent, Dr. Delphine Misan Arenyeka, said for children with special needs who learn differently, it is important that parents always lend support to them.

“Working with children with special needs means that you need to think outside the box and art is one of the areas where they are able to express themselves freely and without the fear of being judged.”

An arts teacher, Moses Nwaosisi said most of the art works dwell on disability and reflect the students’ thoughts. He stressed that if given the time and if positive things are imparted in a child with disability, the child will thrive.

L-R: The Treasurer, Nigeria School Sports Federation, Dr. Obafunsho Usman; winner, best athlete, junior boys category, Okon Moses; and Brand Manager, Maltina, Nigerian Breweries PLC, Chiamaka Efulu, at the Maltina School Games 2020 prize-giving ceremony in Lagos... recently

Lagos Lottery Board Announces STEM Quiz for Secondary School Students Segun James The Lagos State Lottery Board (LSLB) has announced the Eko Science, Technology, Engineering and Mathematics (EKO STEM) quiz for public and private secondary schools in the state.

The General Manager, Mr. Bashir Are said the competition is to promote education by complementing the shortfall in the sector, especially as a fallout of the COVID-19 pandemic.

“Revenue generated by the Lagos State Lotteries Board are paid into a distribution trust

fund. The fund, by virtue of Section 33 of the Lagos State Lotteries (Amendment) Law 2008, is applied towards executing good cause projects in infrastructure, eduction, environment, social, health and sports development,” he noted.

According to him, the law establishing the LSLB empowers it to intervene, financially in education, infrastructure, environment, health and social sectors of the state.

The Senior Special Adviser to the Governor on State Lotteries, Ms. Funmi Olotu, who gave

an overview of the quiz, said the show will be pre-recorded and aired monthly on selected television stations and social media.

She said the goal is to positively impact the pupils and viewers with rewarding insights and exciting discoveries about STEM. Over 1,500 pupils are expected to register through their schools. Registration started at the beginning of the month and about 500 pupils have registered already. Each school is to present two candidates.

The preliminary examination

held last week at 20 centres across the state and successful candidates/schools will move to the next stage of writing the computer based test (CBT) on May 29. Twelve successful candidates will then slug it out at the studio finals where two schools will feature monthly for six months.

After this, six successful candidates from the 12 will compete against each other and the final three winners will be selected.

The ultimate prize will be a full higher institution scholarship.

Plateau SUBEB, ULS Train 2,625 Teachers, 50 Govt Officials Plateau State Universal Basic Education Board (SUBEB) and a not-for-profit organisation, Universal Learning Solutions (ULS), have trained a total of 2,625 teachers and 50 government officials in Plateau State, under the Teacher Professional Development initiative.

The three-day training, held recently at six centres across the state, reaching teachers

from 17 local government areas (LGAs), witnessed the training of teachers in specialist literacy teaching practices termed ‘Jolly Phonics’. They were equipped with the expertise and tools required to enable them to transform learning processes of ECCD, primary one, two and three pupils in public schools across the state.

Jolly Phonics is a fun and

interactive teaching tool that uses the synthetic phonics literacy teaching methodology.

Synthetic phonics is mandated or recommended by governments around the world because of the way it quickly provides children with the skills needed to read and write.

The Chief Executive Officer, ULS, Mr. Gary Foxcroft said: “The Plateau State Jolly Phonics

is a fantastic opportunity for all children in the state to benefit from the opportunity to learn to read and write. The project will therefore help increase equity and equal opportunities for all children in Plateau State.”

He commended the Universal Basic Education Commission (UBEC) for its continued support for the adoption of Jolly Phonics in government

schools across Nigeria, saying, “UBEC has really recognised the tremendous impact that Jolly Phonics has been having on literacy levels in Nigeria’s government schools and has taken it on as one of its flagship programmes. This has helped us to initiate new projects across the country.” Jolly Phonics is now being taught in all 36 states and FCT. This is truly amazing

and will help to improve the reading and writing abilities of millions of children in the years ahead.”

The Country Director at Universal Learning Solutions Initiative, Mr. Patrick Uzu, highlighted the exceptional support and partnership offered

by PSUBEB, which he said has being instrumental in the success of the project.

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EDUCATION

Insecurity: Afrinvest Decries Spate of Attacks on Schools Seriki Adinoyi in Jos The Chief Executive Officer of Afrinvest Ltd, Lagos, Mr. Ike Chioke, has decried the recent spate of attacks on schools across the country, advising the federal government to adopt more proactive security measures in curbing kidnapping and killings of students.

He also called on the government to promote the virtues of tolerance, harmony and peaceful coexistence among Nigerian students, promote unity in the country.

Chioke said this during a mentoring session, organised by the National Alumni Association of Unity Schools in Jos, where the association also promised to build an ICT

centre, install solar panels, and train staff to effectively engage the students.

He said 39 years after his graduation, it was nostalgic to drive into Federal Government College, Jos with passion, but worried that the school had to mount police post at the gate because of activities of bandits.

“We have had so many incidents of bandits coming to kidnap students in different schools in the country; this is unacceptable in a country that is trying to raise the bar in education. You can imagine how costly it must have been for the federal government to maintain a police post in every school in the country, and these are the challenges that have

come up with increased insecurity.

“I advise that as the country has grown and become more diverse, the leadership has to keep in touch with the reality of the complexity of the country, and that complexity requires that people who are closer to the grassroots be charged with their welfare.”

Chioke also noted that the school curriculum in those days provided them with opportunities to travel on excursion to different parts of the country to understudy their culture, a development he said the prevailing insecurity is gradually putting to a halt. He encouraged the students to conceive big dreams and pursue them

vigorously to liberate Nigeria from the current predicament.

The President, FGC Jos Alumni Association, Mr. Michael Magaji, also expressed concern over the issues of insecurity in the country, calling on the federal government to do everything urgently to put an end to kidnapping of students, and strengthen unity schools to promote peace and unity.

A Senior Advocate of Nigeria (SAN) and old student of FGC Jos, Dr. Garba Usman Tetengi applauded General Yakubu Gowon rtd for initiating unity schools across the country for the purpose of uniting Nigeria, just like he did with National Youth Service Corps (NYSC).

KEHINDE OMORU www.kayomoru.com

INCULCATING HAND WASHING HABIT IS A TASK FOR TEACHERS Aschildren,wewouldhavelearntfromschooltheimportanceofwashing our hands after using the toilet. However, as the years have passed by andwearenowcomfortablyinadulthood,manypeoplehavedoneaway with religiously practicing this need. Many people don’t bother to wash their hands after a visit to the toilet. Hand washing definitely is a habit that needs to be ingrained and re-iterated, constantly.

In one ‘Hand Washing Survey’ carried out by the American Society for MicrobiologyandtheSoapandDetergentAssociation,itwasfoundthat only 66 per cent men and 88 per cent women actually wash their hands after using a public toilet. This is in America, who must have far more handwashing facilities in public toilets than in developing nations. If we were all taught in school how dangerous not washing our hands can be, how come that several adults are forgetting to do so? If we’ve forgotten then it’s high time we refresh our memories. Let’s find out why exactly we ought to perform this hand cleansing ritual every single time we visit the toilet.

Importance of washing hands after toilet: Peoplewhodon’twashtheirhandsafterusingthetoiletaremoresusceptible tocolds,respiratoryailmentsandothercontagiousinfections.Skipping hand washing after visiting the toilet can lead to picking up germs which could result in an infectious disease like diarrhea.The person is at risk of contracting an illness every time he or she touches mucosal areas of his body like the nose, mouth, eyes and the genitals with unwashed hands.

Why wash hands after using the toilet?

Human feces could contain germs like salmonellosis etc. are usually passed from a person who hasn’t washed their hands after using the toilet, then transmits the germs to others while shaking hands, handling fooditems,touchingcommunalobjectsandsurfacesandhandlingfood.

By washing your hands properly with soap and running water, the germs from the toilet gets washed off. This protects yourself and the others you are coming in contact with.

The Head of Anthos House, Dr. Kimberly Scollard (left); an art teacher, Mr Moses Nwaosisi (right); with some students of the school, during their arts exhibition in Lagos...recently

Babcock, CASON Graduates 17 in Church Administration Funmi Ogundare It was celebration all the way at the Babcock UniversIty Centre for Executive Development (BCED), as 17 of its 27 pioneer students in Church Administration became the first fruits of collaboration between Church Administrators Society of Nigeria (CASON) and the university.

Speaking during the graduation ceremony held recently in IlishanRemo, Ogun State, the Vice- Chancellor, Professor Ademola Tayo enjoined them not to rest on their oars, but aim to get to the zenith of knowledge.

He admonished them as church workers to acquire more knowledge to do well in the ministry.

He congratulated the faculty, as well as CASON for finding the institution worthy to partner with.

In his remarks, CASON

President, Pastor Seyi Oladimeji said he was glad that what was once a dream has produced its first fruits, while urging the graduates to go back to their local churches and “run them well and not run them down. Shine the light in your corner; represent heavens well in your churches, represent the brand very well and God will give you the grace to do it well.”

The Senior Vice-President, Academics, Professor Philemon Amanze advised them not to shy away from the counsel of Apostle Paul to preach the word in season and out of season.

The Director, BCED, Professor Johnson Egwakhe congratulated the graduates for staying till the end, while others dropped out in the course of the programme.

He said the graduation ceremony would not only drive more students for

the programme, but also create awareness and brand visibility for church administration.

Speaking on behalf of other graduates, Pastor Kayode Olorunishola expressed delight for being the first set of students in the programme, and for the impartation of sound knowledge.

In another development, Babcock University has matriculated a total of 535 students of the College of Postgraduate Studies, with the School of Management Sciences recording the highest number.

Speaking at the 11th matriculation ceremony recently, Prof. Tayo thanked the matriculating students for making Babcock their institution of preference, while urging them to uphold the core values for which the university is reputed.

“We accept the challenge of giving meaning to hu-

man life. That is why our educational system offers a Christ-centred approach to learning.”

He said beyond academic excellence, Babcock offers a holistic education and has won the global brand awards for five consecutive years, 2015 to 2019.

The occasion which held at the amphitheatre, also provided the platform for other officers to lend their voices.

In his counsel, Prof.

Amanze urged the students to make the best of the institutional opportunities.

“Education is the passport for the future,” said Senior Vice-President Management Services, Prof. Yacob Haliso.

He commended the university administration that offered the first virtual classes, hooding and convocation ceremonies last year during the lockdown occasioned by the COVID-19 pandemic.

How can not washing my hands affect others?

Unwashed hands and poor hygiene often result in food-borne illness outbreaks.Ifthishappensinanestablishment,itcouldbeduetonegligence onthepartofboththeemployerandemployeesworkinginthework-place.

Employers have a duty of care to provide and implement handwashing trainings and facilities as well as food hygiene measures and trainings.

Peopledirectlyorindirectlydealingwithfoodorfoodpackagingneedto doubly make sure they wash their hands properly after using the toilet.

Improperly washed or unwashed hands transfer germs from the toilet to the food items and then to the person eating the food.

Employeesofsupermarketskeephandlingfruitsandvegetables;these couldbeamajorsourceofgermsiftheymaintainpoorhygiene.Managers of supermarkets need to ensure their staff maintains proper hygiene.

Moreover,peopleworkinginthehotelindustrylikechefs,waiters,waitresses etc.canalsobetransmittersoffoodborneillnesses.Peopleinthehealth caresectoralsoneedtomakesuretheywashtheirhandsafterusingthe toilet.The aim of workers in these areas should be to control the spread of infections rather than to initiate transferable infections.

Properhandwashingisthemostimportantwaytopreventthespreadof infections.Bynotwashingyourhandsafterusingthetoilet,youareforming a channel to spread infections to others. It is solely up to every individual todeterminenottocreateorpromoteanychainofinfection.Youshould take personal responsibility to wash your hands after using the toilet. It suffice to say that, “in protecting yourself, you are protecting others!”

Omoru is a freelance writer, education, health and social care advocate

Parents Petition Minister over Excesses of Anambra FGC Principal David-Chyddy Eleke in Akwa Parents of Federal Government College, Nise, Awka South Local Government Area of Anambra State have petitioned the Minister of Education, Mallam Adamu Adamu over the condition of their wards in the school.

The parents in a petition signed by ‘Concerned Parents’ alleged the maltreatment of their children by the Principal of the school, Dr. Ijeoma Ekumankama.

They alleged that their children are in prison under Ekumankama, while calling for an urgent intervention by the minister in the petition which was also copied to the Senator representing Anambra Central Senatorial District, Uche Ekwunife.

Part of the petition read: “Our

children are presently living in overcrowded hostels with maggot-infested overflowing toilets. The Principal, Mrs. Ekumankama defiantly refused to improve these children’s living conditions despite all the resources channelled in by the PTA. “The children are malnourished, due to very poor feeding in the school, despite support, with provisions by the parents and these happen under the principal’s watch.

“The hostels and dining of these children are worse than prison. They are so overcrowded with a population of about 2,200 students.”

The parents accused the principal of channelling the support made available by the parents for their children’s welfare to the building of a mansion for herself.

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Celebrating Excellence in Ogun Education Femi Ezekiel It is no longer news that Ogun State is not only the educational capital of Nigeria, but also the intellectual melting pot in the country.

The rare feats displayed by some outstanding teachers and learners who are of Ogun State stocks, displayed their intellectual prowess at various examinations, lent credence to the fact that, education remains one of the biggest industries and one of the greatest legacies bequeathed by the founding fathers of the state.

Premier of the defunct Western region, Chief Obafemi Awolowo, once noted a connection between education and development. However, development is measured in terms of human

development.

By and large, while speaking at the presentation of outstanding teachers and learners in various competitions, held on April 22, 2021, Ogun State Governor, Dapo Abiodun, noted that his administration declared a state of emergency on education, immediately after he assumed office on May 29, 2019.

According to him, “it was a methodical and calculated approach to rescue the education sector from the dwindling fortunes inflicted on it by the indifference of the past.

What could have happened to the education of the state that produced the likes of Prof.

Wole Soyinka, the first Nigerian and African to win the Nobel Prize in Literature; Prof Thomas

CIPSMN Inducts 294 Professionals, Tasks them on Ethics Funmi Ogundare A total of 294 members from across the country were recently inducted by the Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN) and advised to abide by its ethics.

Speaking at the 2021 group A induction ceremony held in Lagos, the Registrar, Alhaji Mohammed Jimoh Aliu reteirated the need for government to professionalise procurement as enshrined in the Public Procurement Act of 2007 so that there can be value for tax payers’ money.

He noted that every public official saddled with the responsibility of procurement must be duly trained, certified by the institute and be guided by the ethics of the profession.

Aliu listed some of the challenges confronting the institute to include lack of procurement policy and procedures; lack of inauguration of Public Procurement Council and proper domestication of its certificate in the scheme of service of the federation.

“Acquisition of the necessary knowledge and professionalism are worldwide hallmark for entry, career progression and advancement as far as every human being desired in his endeavour. However for many years now, the institute has made concerted effort towards the proper placement of our certificate in the public service scheme of Nigeria within the Head of Service of Federation and this has been a herculean task to achieve despite the World Bank recommendations, Federal Ministry of Education clean reports of findings, presidential order number five, the institute’s Act of Parliament 21 of 2007, among others.”

The registrar described procurement as a critical aspect of any organisation as they cannot function efficiently without continuous flow of right quantity and quality materials to support operations.

He expressed concern that this field of endeavour is constantly being abused on a daily basis in Nigeria, saying that is why it is not evidenced in the tax payers money and the delivery of quality service and security.

The registrar regretted that those at the helm of goverment affairs have been fustrating the domestication of its certificate leading to corrupt practices in the system. “We all know what is happening in Nigeria regarding security issues, procurement system is faulty compared to what is happening in developed world. All the heads of service in Nigeria do not want procurement to function the way it should. That is why the domestication of the certificate is another problem. It is very clear.

For instance, see our roads, within the next few years, it will start going bad as a result of inferior materials.

“Are the materials purchased according to specifications? Were they purchased by the right personnel? There is tendency that you compromised to what it entails to purchase. See what happened at NDDC where they were just washing their dirty linen in public. Procurement is meant for those who have the knowledge and certified by the necessary body,” Aliu stressed The President of the institute, Alhaji Jubrin advised the professionals to abide by its rules and regulations and be hard working, adding that failure to adhere to these will attract sanctions from the body.

Ogun State Governor, Dapo Abiodun Adeoye Lambo, the first professor of Psychiatric medicine in Nigeria; Prof. Biyi Afonja, professor of Statistics; Prof.

Olikoye Ransome-Kuti, a renowned Paediatrician; Emeritus Professor Theophilus Ogunlesi, the first Professor of Medicine in Nigeria; Prof. Oyinade Olurin, the first female Professor of Medicine; Professor Anthony Asiwaju, foremost Historian? Papa Awolowo’s foresight was instrumental to the making of many greats the nation has had and but for him, the likes of

Chief Moshood Abiola and many in that generation whose parents were not rich would have passed this clime, like the snake passes through the rock un-noticed and probably as harmful and endangered species.

“Our approach, therefore, was multidimensional. We focused on infrastructural development; human capital development; provision of conducive environment, among many others to redeem the sector and restore the lost glory.

“I am happy to report

that our commitments within the last one year and 11 months have continued to bring bountiful harvests. We are here today, because our learners at different levels of education did us proud in Mathematics, Sciences, JETS competitions, projects and overall best performance within two years, back to back-2020 and 2021. These are no small mean achievements from our studious students who brought us these honours by dint of their hard work, perseverance and diligence. We are celebrating awards in projects, quiz in Mathematics, basic science, basic technology, agricultural science, physics and biology. We are the best state and we have overall best students for both male and female students in JETS. We are champion! The icing on the cake is that of Miss Odunsi Faith, the global winner of Open Mathematics Tournament (GOMT). The story of the deluge of awards we are witnessing today can not be completed without the teachers and school administrators who are also champions in their own rights.

It is not a flash in the pan to have Award of Excellence in leadership and productivity won by five schools in the state; 2020 African Writer’s Award; 2020 President’s Teachers and School Excellence Award. I am proud of you all,” declared the governor.

However, it was a day of joy that the awardees

would never forget in a hurry as they went home with cash gifts, while one of them received a key to a two-bedroomed bungalow at an elaborate event tagged: ‘Celebration of Ogun Laureates 2021’, held at the Obas Complex, Okemosan, Abeokuta.

Mr Oladimeji Sotunde, the overall best graduating student from the Lagos State University (LASU), Ojo, who is an indigene of Ogun state, received the sum of N2 million and a twobedroomed bungalow, while Miss Faith Odunsi, student of Ambassadors College, Ota, who emerged winner in the Global Open Mathematics Tournament, the Governor seized the occasion to set up an education endowment fund with a seed money of N5 million in honour of the wizkid.

Other awardees feted include Miss Fatimoh Tijani, from Abeokuta Grammar School (first position in Mathematics Olympiad); Miss Treasure Oguntade, from Molusi College, IjebuIgbo (second position in Mathematics Olympiad); Miss Jesutofunmi Okusanya, from Adeola Odutola College, IjebuOde (second position in Mathematics Olympiad); Master Akinfoluhan Akinleye, from The Ambassadors College, Ota (senior category, first position in 2020 JETS competition, and 21 others.

-Ezekiel writes from Abeokuta

Experts Urge Nigeria to Adopt Technology to Expand Access to Education Uchechukwu Nnaike Experts have advised government at the state and federal levels in Nigeria to integrate technology in education to expand access to learning and ensure inclusion.

This was the summary of submissions made during the April edition of ‘The Edtech Mondays’, a monthly programme facilitated by MasterCard Foundation, in partnership with Co-creation Hub Limited (CcHUB), held in Lagos recently.

The April edition with the theme ‘Digi Learning - Can Education Technology Expand Access to Education?’ featured the duo of Olubayo Adekanmbi, Founder and Lead Mentor, Data Science Nigeria, and Rudranarayan Sahoo, the Education Manager for UNICEF in Nigeria as panelists with Joyce Daniels as the moderator.

In his remarks, Adekanmbi stated that technology remains a key driver in increasing access to education, considering the age we live in. He described technology as a great enabler

to learning for all categories of children especially with the increasing access to mobile phones in Nigeria.

Emphasizing the significance of technology to education, he noted that the concept of learning is fastchanging as many digital devices have provided learning opportunities for children in a more interactive, customised and student-centered manner. ”Technology is as good as how we localize it or how we make it to be student-centered. Apart from that, learning should be localised to the reality of the child. Learning theory must lead while education must be the slave helping us to customize what is possible,” he added.

Citing examples of the partnership support between his non-profit organization, ‘We Learn at Home and MasterCard Foundation’ on some key initiatives, the data scientist noted that technology has contributed a lot to aid access to education not only for children in urban areas, but those in rural communities, as there

are now numerous innovative means to deliver it.

He further noted that technology fused with learning is fast becoming a lifestyle that truly reflects the world.

Analyzing the theme, Sahoo noted that though the enrolment rate of school children in Nigeria is at an increasing pace, the reality on the ground revealed that the figure has not translated to improved learning outcomes as a great proportion of the children still lack basic literacy and numeracy skills.

Highlighting the current educational system, Sahoo said the time has come for a total reform of the sector if the country is serious about global competitiveness. According to him, 21st century schools must be prepared to offer young people creative skills, problem-solving skills and critical thinking skills.

Sahoo also explained that UNICEF is supporting the Federal Ministry of Education in digitalizing the curriculum and instructional materials. He added that UNICEF is partnering

the Federal Ministry of Education in deploying the learning passport to reach out to about 25 million Nigerian children by the end of 2022, as well as capacity development of 30,000 teachers across the country, and the provision of ICT infrastructure needed in establishing ICT hubs.

He further revealed that according to statistics obtained, out of the 58,000 teachers in the North-eastern part of Nigeria, comprising Gombe, Adamawa, and Yobe, 28,000 teachers do not have the required teaching skills to teach primary school-age children. This means that the low quality of learning outcomes for children comes as a result of poor quality of teaching skills exhibited by the teachers.

“It is important for all concerned stakeholders, including government to rise to the occasion by embracing technology as a veritable tool to address the challenge. They cannot afford to continue to fold their arms while the decline in learning outcome persists,” he said.

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CITYSTRINGS

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ ÒÓÏ×ÏÖÓÏ äÏÙÌÓ ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͖͕͔͑͑͒͑͒͑͑͘

Repositioning Nigeria's Marine Institutions The Nigerian Institute for Oceanography and Marine Research and Federal College of Fisheries and Marine Technology last week unveiled their progress reports in an effort aimed at repositioning the school to meet modern challenges, Rebecca Ejifoma writes

F

or the Nigerian Institute for Oceanography and Marine Research and Federal College of Fisheries and Marine Technology, the goal to reposition both institutions have been paramount. Already, several projects have kicked off while many others are still in the pipeline.

At the moment, all is set for the commissioning of a jetty to serve as fishing logistic base, at Iru-Habour Point by the Nigerian Institute for Oceanography and Marine Research (NIOMR) and Federal College of Fisheries and Marine Technology (FCFMT).

The Chairman of the Board of the institutions, Hon. Abdulmalik A. Usman who spoke to reporters at Lagos, shortly after the last board’s meeting, also said some other projects would be inaugurated at Ogbolomi, Lagos. He said the jetty has been an abandoned project since 1985, until the President Muhammadu Buhari administration came on board to revive the jetty through massive rehabilitation and repair works. The jetty is already at 75 per cent near completion.

On completion, the jetty will serve as logistics base for all types of fishing vessel and support vessels visiting Western part of Nigeria and training vessel for the Federal College of Fisheries and Marine Technology. The chairman also commended the Lagos State government for their support in rescuing about 80 per cent of the Institution's land from land grabbers.

Usman and the board members used the occasion to tour facilities of the two institutions.

During the tour, the chairman and board members were briefed by management of the institutions, on the progress made so far at the three NIOMR outstations of Buguma, Sapele and Aluu and the college permanent site in Igbolomi.

In Buguma, various works done include construction of walk way, repairs of vehicles and roof were carried out in year 2020, while outstanding security wages were also paid. Administratively, ICT and office equipment were also given to the outstation.

In Sapele, renovated abandoned classrooms and hall, while ICT office equipment were given to the outstation in the same period.

In Aluu, various facilities were reportedly repaired.

At the college main campus and Igbolomi campus, major construction and remodeling projects of both male and female hostels has been achieved in this period. The college has also established Fishery Cluster Zone and demonstration farm on 23 hectares land at Enugu to boost research, vocational skills and IGR through fish production.

In this period, the college website was also upgraded and transferred to the wordpress platform for better reliability and regular software updates.

The Research Vessel Bayagbona that was down due to technical problems since her arrival in Nigeria in 2004 has been repaired and since then the vessel has been to sea four times and awaiting a long voyage of 12 days in 2021.

The two damaged extruders in the year 2020 has also been repaired adding that the extruders have been tested for production and found to be doing well.

The Executive Director/CEO of NIOMR, Dr. Sule Abiodun disclosed that the institute is at present negotiating with the Lagos State government and North West Fish Producers on Public Private Partnership (PPP).

He said: “With the consent of Lagos State government and Apa community, the Apa communities in Awori settlement, NIOMR now has the waterfront for Tilapia and Clarias culture. The programme is expected to commence this year 2021”.

Chairman Governing Board, NIOMR/FCFMT, Hon. Abdulmalik A. Usman

On manpower development, Abiodun said in the year 2020, the institute saw two staff completed their PhD, while 21 and 43 staff have their MSc and PhD programmes ongoing respectively. He also gave an update on various partnerships that the institute is currently engaged in.

“NIOMR being the center of excellence in Oceanography and Marine Research, the institute trained six early scientists for Partnership for Observation of Global Ocean (POGO), based in Walvis Bay, Nimibia.

Scientists from Togo, Ghana, Ivory Coast, Republic of Benin and Nigeria participated in the two months programme. The two months programme was sponsored by POGO Namibia. At the end of the programme the scientists also bagged the International Maritime Organisation-Standard Training and Certification for Watch Keeping (IMOSTCW) International Certification.

"In September 2020, based on NIOMR’s alignments, Food and Agricultural Organisation (FAO) visited the institute for the first time and signed cooperation agreement, consequently assigned contract of building Thiaroye smoking kiln in the North East to NIOMR. Construction will start in April.

“In April, 2020, World Fish Chairman visited NIOMR’s headquarters, thereafter requested the institute to meet with Gombe governor. The meeting for the development

of Artisan Fisheries was a success. The program will start post COVID-19.

"On invitation, NIOMR will partner South Africa on Fisheries Development in particular data gathering and analysis.

The program is expected to start post COVID-19. Instituto Hydrografico Marinha, Portugal invited NIOMR and after signing co-operation agreement requested to have their African co-coordinating office for Ocean Data Analysis in Nigeria. The agreement will commence after COVID-19.

"Netherlands Government through the Embassy in Nigeria visited NIOMR and showed interest in stationing waste-to-waste equipment for conversion of plastic waste and pet for industrial use in Nigeria.

Equipment is being expected."

Expressing satisfaction on the progress made by the present board and management, Dr. Abiodun disclosed that in 2020, the NIOMR got National Assembly approval to restock dwindling Niger State Rivers and has identified Clarias species as first for restocking. The project according to him will commence in April 2021.

“I am happy to let you know that in May 2020, the Federal Ministry of Agriculture wrote to NIOMR to help set up a College of Agriculture, Fisheries and Food Technology in Osun State. It was agreed that the institute should use model of Federal College of

Fisheries and Marine Technology template and acquired experience. Many visits were made to Osun State site, all equipment and structure in place. The programme will start this year 2021”.

On his part, the provost of the FCFMT, Dr. Chuks Onuaha said, while briefing management, that the college has trained over 6,000 trainees nationwide on different areas of fisheries value chain saying that six new programmes are to be mounted in the college while accreditation and reaccreditation programmes have recently been completed.

While collaborating on manpower development, Dr. Onuoha confirmed that several staff of the college are presently pursuing their Ph.D M.Sc and B.Sc in different programmes and indicated that two new directorate cadres have been created to minimise stagnation of staff.

“We have also provided CCTV throughout the campus for a secured learning environment and provided uninterrupted power supply with the installation of solar power system to complement Government efforts” said an elated Dr. Onuoha.

He further stated that fish production units at the main campus and Igbolomi have been revamped while six additional engineering workshops and laboratories were constructed and equipped.

WEDNESDAY MAY 19, 2021 • T H I S D AY

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T H I S D AY ˾ ͯͷ˜ 2021

BUSINESS/MONEYGUIDE

Transfer Window: 12,681 Contributors Change PFAs in Three Months Ebere Nwoji Barely six months after the launch of its transfer window, the National Pension Commission (PenCom) yesterday disclosed that a total of 12,681 Retirement Savings Account (RSA) holders migrated from their Pension Fund Administrators (PFAs) to new operators in the first quarter of 2021.

According to the commission, the response of RSA holders towards the transfer window implementation has been overwhelming.

PenCom Head, Corporate Communications, Peter Aghahowa, in a statement, explained that in the maiden transfer quarter, which ended

on December 31, 2020, a total number of 2,799 RSA holders transferred their RSAs to various PFAs. He said the number more than quadrupled in the next transfer quarter, which ended on 31 March 2021.

“Overall, the opening of the RSA Transfer Window is revolutionary. Going forward, high standards of service delivery will be a focal point in the Pension Industry,” he said.

Aghahowa, commenting on the response of the contributors to the transfer window programme said, “It was long awaited. The launching of the RSA Transfer System (RTS) on November 16, 2020, heralded the full implementation of one of the cardinal features of the

Contributory Pension Scheme (CPS), the portability of RSAs. “By this development, RSA holders have been empowered to move their RSAs from their current Pension Fund Administrators (PFAs) to other PFAs of their choice, whenever they desire to do so.”

According to him, the opening of the transfer window has been embraced by a large number of RSA holders in their quest for better service delivery and returns on investment from PFAs. He said the Commission has ensured that the requirements for initiating RSA transfers are minimal, and has also made available on its website, necessary information to guide RSA holders through the process.

Polaris Launches Digital Banking Solution Polaris Bank yesterday launched its digital banking platform, VULTe. According to a statement from the bank, its Chairman, M.K Ahmad, was quoted to have disclosed that the corporate goal of Polaris was to offer customers and non-customers of the bank, a 24-hours seamless service over two years ago when the Polaris journey started which led to the pursuit and now actualisation of VULTe. “This is a milestone in our pursuit of a strong and digitallyled retail brand. When we started the Polaris journey almost three years ago, we were very clear on the type of Bank we must build and the direction we must go.

“This was largely informed by the fast pace of change in

financial service provisioning and the apparent technology-defined outlook of our business.

“We are therefore bringing VULTe to the market place today.

And this is not another mobile App, but one with a world of difference, a mobile digital bank.

This is your bank in your hand, affording you total Control of your financial service needs. With VULTe, you serve yourself, the way you want to be served,” the Chairman explained.

Also, the statement quoted the Acting Managing Director/CEO of the bank, Mr. Innocent Ike, in his address to have said the newly-launched banking platform was to return all powers to the customer as king.

He noted that customers are now at liberty to enjoy unhin-

dered, contactless and refreshing banking experience all at the tip of their fingers thanks to the VULTe app.

“With VULTe, we affirm our resolve to serve the customer better and make their banking experience, more pleasurable. Therefore, we will continue to launch an array of banking products to cater to the varying needs of our diverse customers,” he added.

Explaining the value the bank places on its customer with the VULTe, Ike said: “Ultimately, VULTe represents our bold declaration to hand over CONTROL of banking services to our customers and allow them to serve themselves as they would want to be served.

PTI Organises ICT Training for Youths Sylvester Idowu ÓØ ËÜÜÓ The Petroleum Training Institute (PTI) Effurun in Delta state has commenced a three months training programme on computer competence for 57 youths drawn from its host communities.

Acting Principal and Chief Executive, of the Institute, Dr. Henry Adimula disclosed that the training would cost the school about N4 million, saying the fund was generated from the school’s internally generated revenue.

He said the programme was one of the school’s corporate social responsibilities (CSR) to its immediate host communities and urged beneficiaries to make good use of the opportunity to

become key players in the global information technology-driven world.

“This training programme on computer competence skills acquisition for youths in the Urhobo kingdom is 100 per cent PTI’s corporate social responsibility to its immediate host communities geared towards equipping the youths with skills on information technology in the digital business and e transact age,” he said.

Adimula, who revealed that in five decades of its existence, the PTI has consistently carried out the mandate of training competent technical manpower for the oil and gas as well as allied companies.

“There is no oil and gas

company in Nigeria that does not have a PTI graduate in its employ, who are pacesetters, pathfinders and trailblazers in the industry,” he said.

He emphasised on the two model training the institution would give the trainees, saying one gives a qualification to look for job while the other enables the trainees to create an empire.

Adimula, who was delighted by the turn up of the trainees revealed that they were expecting 48 but instead it was about 60 that came.

According to him, “We have trained over 3,200 youths in the oil producing communities, as a result majority of the youths were either employed by companies or self-employed.”

NOVA Merchant Bank Bond’s ‘A’Rating Reaffirmed Datapro has reaffirmed its “A” rating on Nova Merchant Bank’s N10 billion 7-Year Subordinated Unsecured Bond issued under its N50 billion debt issuance programme.

The bond has a fixed coupon rate of 12 per cent per annum.

The achievement followed the recent publication of the bank’s financial results for the full year 2020, in which it declared a profit after tax of N3.49 billion in 2020, compared to N1.65 billion in 2019.

The bank also achieved a 130 per cent increase in gross earnings while its cost to income ratio declined from 55 per cent in 2019, to 44 per cent in 2020.

MD/CEO of the bank, Nath Ude, in his comment said: “The revalidation of an “A” rating builds on the Bank’s recent strong financial performance and further validates our go to market approach, business model and value proposition to our customers.

“It rewards the bank for the resilience it has shown during the challenging economic environment arising from the COVID-19 pandemic.”

Also, the Chairman of NOVA Merchant Bank, Mr. Phillips Oduoza, said: “This rating recognises the progress the bank has made in such a

short period of time amidst a challenging macroeconomic context. The board remains committed to supporting the management team towards the achievement of many more successful milestones as the bank’s growth trajectory continues to demonstrate long term sustainability.”

NOVA Merchant Bank offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.

L-R: MD, Rack Centre, Mr. Ayotunde Coker; Chairman, Polaris Bank, Mr. Muhammed Ahmad; Acting Managing Director/CEO, Mr. Innocent Ike, and Chief Digital Officer, Mr. Dele Adeyinka at the formal launch of VULTe, Polaris Digital Bank in Lagos…yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY, 17 MAY 2021

The price of OPEC basket of thirteen crudes stood at $67.52 a barrel on Monday, compared with $66.16 the previous Friday, 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).

SOURCE: OPEC headquarters, Vienna

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LCFE to list N5bn Cashew Nut Contracts for Agvest Limited Goddy Egene The Lagos Commodities and Futures Exchange (LCFE) has commended a player in the agricultural value chain in Nigeria, Agvest Limited, for the planned listing of its N5 billion cashew nut contract.

Under the proposed listing, financial instruments worth N1.5 billion with cashew nut as the underline assets is scheduled to be offered to investing public

through Commercial Papers (CP) and short term Exchange Traded Notes (ETN). Speaking to journalists on the development in Lagos yesterday, Managing Director, Agvest Limited, Mr. Olabode Abikoye, explained that proceeds of the offer would enable the company to get both plantation and factory up and running in West Africa at the first instance.

According to him, Agvest shall commence with cashew

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aggregation on the spot market, issue ETN in the medium term and add value. “ Our decision to list Cashew Nut contracts on the LCFE is to enable private investors enjoy the benefits of quotation. We shall by this approach support the government’s drive to generate foreign exchange. We have 210 hectares of land as plantation in Iwo, Oyo State and we are working closely with Oyo State Investment and Public Partnership

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Agency (OYSIPA) to activate our plan. “ As a listed product, our cashew shall always meet international standard as prescribed by the International Standard Organization (ISO) which requires good temperature, moisture level and grade. Many stakeholders in the commodities value chain in Nigeria operate in silos. One of our company’s functions is to integrate the stakeholders

T R A D E D MAIN BOARD

A S

in the value chain,” Abikoye said.

On his part, the Managing Director, LCFE, Mr. Akin Akeredolu-Ale, noted that Nigeria had opportunities to earn robust income from cashew nut. “ Nigerian cashew sector is dominated by smallholder farmers. numbered at about 25,000 and some commercial plantations, with an average cultivated area of 325,000 hect-

O F

ares, local processing industry is growing gradually while there is a significant rise in export due to increased awareness of export potential and processing opportunities. Other actors in the ecosystems include local buying agents, processors, exporters, and service providers.

“The challenges around the production and processing of cashew in Nigeria mainly centre around the primary production of cashew from aged trees .

1 8 / 0 5 / 2 0 2 1 DEALS

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QUANTITY TRADED

VALUE TRADED ( N)

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42

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 17May-2021, 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 153.39 154.90 5.19% Afrinvest Plutus Fund 100.00 100.00 3.71% Nigeria International Debt Fund 300.57 300.57 -24.32% Afrinvest Dollar Fund 110.48 110.48 -1.43% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 5.16% AIICO Balanced Fund 3.35 3.29 -8.62% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.93% Anchoria Equity Fund 127.88 129.31 -3.86% Anchoria Fixed Income Fund 1.05 1.05 -21.18% 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 19.00 19.58 4.78% ARM Discovery Balanced Fund 414.18 426.67 3.45% ARM Ethical Fund 36.81 37.92 9.21% ARM Eurobond Fund ($) 1.08 1.08 -11.55% ARM Fixed Income Fund 0.96 0.96 -14.45% ARM Money Market Fund 1.00 1.00 0.00% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.15 104.15 2.40% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.95 1.95 -25.27% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.28 2.32 6.17% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 0.94% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.32% Paramount Equity Fund 15.82 16.10 -1.12% Women's Investment Fund 131.60 132.98 -1.17% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.02% Cordros Milestone Fund 2023 113.92 114.64 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.44 106.44 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 2.14% Coronation Balanced Fund 1.16 1.18 -3.24% Coronation Fixed Income Fund 1.35 1.35 -15.00% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 3.17% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.99% EDC Nigeria Fixed Income Fund 1,156.79 1,163.65 -3.44% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund 184.97 186.23 -1.44% FBN Halal Fund 109.35 109.35 4.37% FBN Money Market Fund 100.00 100.00 6.21% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund Coral Income Fund FSDH Treasury Bills Fund

124.72 152.83

124.72 3.24% 154.97 1.09% fcmbamhelpdesk@fcmb.com

Bid Price N/A N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.26% Vantage Balanced Fund 2.77 2.83 20.82% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 148.44 148.87 -4.49% Vantage Equity Income Fund (VEIF) - June Year End 1.22 1.26 29.15% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 6.12% 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 1.36 1.38 0.00% Lotus Halal Fixed Income Fund 1,137.19 1,137.19 2.97% 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 10.66 10.73 1.93% Meristem Money Market Fund 10.00 10.00 5.13% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.64 1.66 7.29% PACAM Fixed Income Fund 12.42 12.47 2.34% PACAM Money Market Fund 10.00 10.00 2.60% PACAM Equity Fund 1.58 1.59 -0.29% PACAM EuroBond Fund 110.65 112.19 0.60% 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 130.12 132.35 6.86% 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 1.01 1.01 2.72% 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 3,146.14 3,171.12 -2.17% Stanbic IBTC Bond Fund 229.28 229.28 1.97% Stanbic IBTC Ethical Fund 1.18 1.20 0.85% Stanbic IBTC Guaranteed Investment Fund 300.54 300.54 2.00% Stanbic IBTC Iman Fund 216.74 219.40 -0.82% Stanbic IBTC Money Market Fund 100.00 100.00 5.54% Stanbic IBTC Nigerian Equity Fund 10,232.25 10,359.73 -2.58% Stanbic IBTC Dollar Fund (USD) 1.25 1.25 2.10% Stanbic IBTC Shariah Fixed Income Fund 113.56 113.56 2.23% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 100.91 100.91 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.36 -1.87% United Capital Bond Fund 1.94 1.94 2.36% United Capital Equity Fund 0.89 0.91 2.58% United Capital Money Market Fund 1.00 1.00 6.49% United Capital Eurobond Fund 120.35 120.35 2.79% United Capital Wealth for Women Fund 1.08 1.10 -0.27% United capital Sukuk Fund 1.04 1.04 4.31% 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 Equity Fund 12.10 12.21 1.95% Zenith Ethical Fund 13.20 13.62 9.27% Zenith Income Fund 24.05 24.05 0.32% Zenith Money Market Fund 1.00 1.00 3.02%

REITS NAV Per Share

Yield / T-Rtn

123.20 51.42

2.04% -1.87%

Bid Price

Offer Price

Yield / T-Rtn

12.43 123.71 96.93

12.53 123.71 98.68

-5.91% 1.62% -2.49%

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.77 5.59 16.92 1.00 19.09 159.44

3.81 5.67 17.02 1.00 19.29 161.44

-0.19% -1.71% 3.48% 2.94% -6.94% -27.08%

NAV Per Share

Yield / T-Rtn

107.52

13.11%

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.

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NEWS

EFCC Asks Secondus to Release Three PDP Officials for Interrogation Davidson Iriekpen The Economic and Financial Crimes Commission (EFCC) has requested the National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, to release three party officials for interrogation.

Those to appear before the commission are the National Auditor, National Organising Secretary and Director of Finance.

They were said to have

featured in a case of criminal conspiracy, abuse of office, diversion of funds and fraud that the commission is investigating.

In an invitation dated May 17, 2021, and addressed to Secondus, the commission said the need to obtain clarifications from the party had become imperative.

The invitation, sighted by THISDAY was signed by the Head of Operations, Mr. Michael Welkas.

The interview will hold on

May 19, 20 and 21, 2021 for National Auditor, National Organising Secretary and Director of Finance respectively.

A former Edo State Commissioner for Information and suspended member of the party, Prince Kassim Afegbua, had last month petitioned the EFCC and Independent Corrupt Practices and Other Related Offences Commission (ICPC) over allegation of N10 billion financial impropriety by the

party, an allegation the PDP has denied.

He urged them to look into the financial transactions of Secondus, in the spirit of transparency, accountability and book-keeping in line with the existing anti-corruption laws.

He added that much of the financial transactions of the PDP under Secondus had been shrouded in mystery, accusing the party leadership of a deliberate attempt to shortchange

the party in the build-up to the 2023 general election.

Afegbua also asked the anti-graft agencies to probe how N10 billion that allegedly accrued to the party’s purse from 2017 till date, especially those that were as a result of sales of nomination forms for presidential, gubernatorial, House of Assembly and senatorial elections was spent, saying as an opposition party, the leadership should lead by

example by ensuring that there is transparency and accountability.

He accused Secondus of not living up to the expectations of strengthening the party to play its formidable role as a virile opposition party, adding that, avoiding the use of the party’s bank accounts and resorting to the use of one Morufu Nigeria Limited allegedly as a conduit pipe for financial mismanagement in the sales of forms in 2019 was an aberration.

what options are better to run them, including using operations and management (O&M) experts.

On subsidy removal, Sylva said the federal government did not lack the courage or political will to float petrol price, but was considering stakeholders' views.

He stated that proceeds of the recent sale of marginal fields from Signature Bonuses were used to augment the Federation Account Allocation Committee (FAAC) for April.

On reports in the social media that he collected $25 million from Saipem to award a contract in LNG Train 7, he said the contracted had already been awarded to Saipem before his appointment.

Shell CEO: Nigeria Onshore Oil Incompatible with Company’s Climate Strategy Oil multinational, Royal Dutch Shell Plc, yesterday shed more light on its decision to divest from onshore operations in Nigeria.

The company said its onshore operations in the Nigerian oil and gas industry were no longer compatible with its long-term climate strategy.

The company stated that it had been under increasing pressure from investors to slash emissions and pivot toward cleaner energy, even as the tension was on show at its shareholder meeting yesterday.

Bloomberg reported that while speaking at a shareholders' meeting, the company’s Chief

Executive Officer, Ben van Beurden, told investors that the additional community issues in the Niger Delta were becoming a huge challenge for the company.

He said: “The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions.

“We cannot solve community problems in the Niger Delta and the company has started discussions with the government on how to move forward.”

He didn’t say explicitly that Shell wanted to sell the remainder of its oil assets in the Niger Delta, nor did he provide a timetable.

The company’s long-term energy transition plan laid out to investors for the first time received overwhelming support, but a competing resolution asking for stricter targets also garnered more votes than ever.

Adding to the tension, shareholders were meeting as the International Energy Agency (IEA) warned that all new oil and gas developments needed to stop immediately for climate targets to be met.

Shell also acknowledged its green strategy is complicated by its spill-prone operations in Nigeria, where it has been pumping out oil for half a century.

The Anglo-Dutch company has been gradually selling onshore assets in Nigeria for more than a decade, as it sought to put

aside chronic problems such as pollution caused by ruptured pipelines and the resulting legal battles with local communities.

The issue has become more acute in the past year after Shell pledged to transform itself into a clean energy giant and gradually winds down its oil and gas business to achieve net-zero carbon emissions by 2050.

Yet a full retreat would be an obvious endpoint to years of gradual divestment, even as Shell has reduced its total number of onshore licences in Nigeria by half over the past decade and has been focusing on offshore oil fields and gas operations in the country.

The shareholders' meeting was dominated by investors’ questions on Shell’s climate strategy, ranging from pleas to set more ambitious targets on reducing carbon emissions and phasing out fossil fuels, to a request that the company “stop apologising” for the products it sells.

When asked about an IEA’s new report on stopping new oil and gas fields, Chairman, Chad Holliday, said Shell hadn’t had time to study the report but would do so in due course.

Shell’s energy transition plans, which forecast a big expansion in clean energy but also decades more oil and gas production, received nearly 89 per cent votes, while a competing proposal from the group rose to 30 per cent, more than double a year earlier.

borrowing as long as it is used for productive purposes.”

Also, the Director-General of the Lagos Chamber of Commerce and Industry, Dr. Muda Yusuf, expressed concern that the rising debt profile of the federal government might not be sustainable because the debts will become a problem when the revenue base is not strong enough to service them.

Yusuf said: “What is needed is the political will to cut expenditure and undertake reforms that could scale down the size of government, reduce governance cost and ease the fiscal burden on the government.”

He suggested that the debt should be used strictly to fund capital projects that would strengthen the productive capacity of the economy.

He also advised government to shift “emphasis to concessionary financing against commercial debts that are typically very costly.”

Future, Says PDP

FG CONSIDERS OPTIONS ON DIVESTMENT PLAN BY SHELL Shell, operator of Nigeria’s onshore oil and gas joint venture (JV) SPDC, had recently indicated it would no longer continue to be exposed to the risk of theft and sabotage.

The company’s Chief Executive Officer, Mr. Ben van Beurden, however, said yesterday that its onshore operations in the Nigerian oil and gas industry were no longer compatible with its long-term climate strategy.

He also told investors that the additional community issues in the Niger Delta were becoming a huge challenge for the company.

However, Sylva who fielded questions from journalists on the issue stated that while the federal government is in consultations with the oil giant on the divestment move.

"Some actually feel that Shell should not hurriedly divest and to at least stay,” he said, adding: “Where Shell has completely divested from a sector is not good for us.”

The minister added that the executive arm is discussing with the National Assembly on the quick passage of the long-awaited Petroleum Industry Bill (PIB), saying that the bill will be passed lastest next month.

Sylva said: “I want to tell you that PIB is fully on course and we are very happy because we have focused on that for a long time and we had many meetings with the National assembly and stakeholders.

“Today, I believe that we are all basically satisfied with where we are. The National Assembly has given a timeline.

They actually gave April but a few things happened. But give or take, I still believe that the passage of the PIB will not go beyond June.

“We are hopeful that between now and June, they will pass the PIB. I don’t think we are far away with the passage of the PIB." He stated that the nation's future lies in its vast gas reserves, which have been abandoned for decades, adding that the development of the huge gas potential will fast-track the diversification agenda.”

He added: "Unfortunately, what should have helped us are the laws around the oil industry and this has not happened over the last 20 years we have been tinkering with the laws. And yet, this law will power a lot of progress in this industry because the problem we have in the gas sector in Nigeria is that there are no clear fiscal regimes in the legal framework."

According to him, harnessing the country's gas reserves which currently stands at 203 trillion TCF, will not only create jobs but also open more linkages with other sectors of the economy.

Sylva stated that the 203 trillion proven gas reserves were discovered in the course of oil exploration, adding that a conscious exploration could

yield as much as 600 trillion tcf.

He said: "People have become more aware of the need for us to move towards gas. Last year, one of the first things we were able to achieve was the NLG Train7 final investment decision (FID) that has eluded the country for a long time."

According to him, with the development of Nigeria's gas reserves, over $16.1billion has so far come into the country as Foreign Direct Investment (FDI).

He added that the Nigeria Gas Commercialisation programme is fully on course, while the autogas policy is being finetuned in collaboration with the Central Bank of Nigeria (CBN), which is to bring in conversion kits and make soft loans available for marketers to fit their filling stations.

For the policy to work effectively, he said there must be enough vehicles and filling stations.

On the recent judgement against Nigeria by a Milan court on the Malabu oil deal, the minister stated that the decision on the next move would depend on legal advice from the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami.

The minister also said the $1.5 billion required for the proposed rehabilitation of the Port Harcourt Refinery had been secured, adding that putting the refineries in shape was necessary before considering

ANALYSTS DIFFER ON BUHARI’S QUEST FOR FRESH N2.3TN EXTERNAL LOAN annual budget.

He stated: “So, we are building debts for future generations to pay. Right now, Nigeria is merely scratching at its debt by servicing it without touching the principal.”

Ekpo, who was the immediate past Director-General of the West African Institute of Financial and Economic Management is also concerned about the transparency of the proposed borrowing.

The Director-General of Nigeria Employers’ Consultative Association (NECA), Mr. Timothy Olawale, said it would be carelessness on the part of this government to be borrowing and building unsustainable debt burden for future generations and succeeding governments.

Olawale said: “We have repeatedly said that the government should cut its coat according to its cloth. It must look for where and how to reduce its over-bloated governance structure that has been consuming so much. And there are one thousand and one budget heads they can do away with without retrenching workers. The Oronsaye Panel’s

report recommendation that ministries and agencies of government should be merged is still unimplemented.

He said: “So, borrowing is a lazy way of escape from reality.

If you cannot afford a particular lifestyle, commonsense dictates that you should come back and restructure your lifestyle to suit your income. But rather than doing this, the government keeps on borrowing to satiate its appetite for luxury and flamboyance.

“Well, we are not in support of this and we will want the government to be very prudent and mindful of the future of our economy, the future of the project called Nigeria and the future of generations yet unborn.”

A professor of Finance, University of Lagos, Prof.

Winifred Iyiegbuniwe, warned that Nigeria should not continue to borrow and dissipate them on wasteful expenses.

He said: “The problem is that we cannot continue to be borrowing in this manner and dissipate them through wasteful expenses. I have a problem as

a financial economist when I am not convinced of what the government is doing with these borrowings. If we can borrow for specified and identifiable capital projects, fine. But if it is to borrow for consumption, no! We should cut our coat according to our cloth.

“I am disappointed that all the long talk about removing fuel and electricity subsidies and plugging loopholes in tax collections are yielding nothing.

They seemed to be too much talking with too little action.

The only foreign borrowing that will make sense is one that is tied to a specific project. So, the government must be more specific about the infrastructure it intends to finance.”

Some analysts, however, said that the plan to borrow $6.18 billion external loan would strengthen Nigeria’s foreign reserves but cautioned that it could also lead to heightened debt burden if not channelled to productive sectors of the economy.

The Head of Research at Agusto Consulting, Mr. Jimi

Ogbobine, said: “This could help boost foreign reserves at this point in time. But what we need to do is to complement it with other policies like the harmonisation of the exchange rate so we can stimulate foreign direct investments (FDI) once again because we cannot survive on using loans to boost our foreign reserves.”

Ogbobine, however, noted that “there are other ways of deficit financing because debt is not the only way of getting financing, which could also be done through taxes and sale of assets.

“We need to look at all the unproductive assets and think of how we can get them out of the government’s books in order to reduce recurrent expenditures on these assets,” he stated.

Similarly, the Head, Retail Investment, Chapel Hill Denham, Mr. Ayodeji Ebo, said: “We know government is constrained with a shortage of fund but it should ensure that major part of the borrowing will go to the productive sector.

There is really no harm in

APC Mortgaging

Meanwhile, the main opposition party, the Peoples Democratic Party (PDP) yesterday raised the alarm over another plan by the federal government to borrow N2.3 trillion.

The National Publicity Secretary of PDP, Mr. Kola Ologbondiyan, told THISDAY that the additional loan request would mortgage the future of generations yet unborn Nigerians.

He said: "We are alarmed like any other Nigerian on this fresh loan request. It is simply to mortgage the nation and the future of the younger ones as they will be held in bondage by debts.

"The funniest thing is that upon all these loans, there is nothing tangible to show with the loans so far obtained. As a party and as Nigerians, we are worried. What is simply happening is just mis-governance and incompetence In all these multiple loans, the truth is that you cannot point any finger and say, this is what the Buhari administration has done with it.”

hospitals and forceful discharge of patients.

The statement said the actions of the NLC were equivalent to the actions of the bandits kidnapping and menacing citizens. “Bandits illegally use arms, but the NLC is deploying mob action for exactly the same ends,” it said, adding: “Efforts to dress up criminal activity as industrial action do not change the reality of lawbreaking

that has unfolded, including their persistently ignoring the prohibition against impeding essential services.’’

It reiterated that Wabba and his senior confederates in the NLC had been declared wanted and would be vigorously prosecuted for violations of the Penal Code of Kaduna State, the Miscellaneous Offences and the Trade Dispute (Essential Services) Acts.

KADUNA INDUSTRIAL CRISIS WORSENS AS HOODLUMS ATTACK PROTESTING WORKERS immediate recruitment of new nurses to replace those dismissed.

The statement also disclosed that “nurses disconnected oxygen from a two-day old baby in an incubator on Monday at the Barau Dikko Teaching Hospital, when they joined the National Labour Congress (NLC) strike.”

The statement added that apart from the nurses involved had been recommended to the Ministry of Justice to initiate

prosecution.

The statement also directed all government Ministries, Departments and Agencies to submit their attendance registers to the Head of Service while those in Kaduna State University should submit the same to the Secretary to the State Government and the Commissioner of Education.

Adekeye said: “Salaries that could have been paid to the

dismissed nurses will be given as extraordinary occupational allowances to the health workers who are at their duty posts to fill the gap of those absconding from duty.”

The statement commended doctors and some categories of health workers that tried to run public health facilities.

Adekeye expressed regrets that some nurses joined the strike and engaged in sabotage of some

of our health facilities.

“Nurses were implicated in the forceful discharge of patients in many health facilities,’’ he said.

The government also warned that any academic staff of KASU that does not report for work will be dismissed, adding that government will not tolerate the brazen shutdown of electricity, attack on public infrastructure and buildings, locking up

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Kano Emir, 139 Others Escape Death as Max Air Flight Experiences Engine Failure Chinedu Eze in Lagos and Ibrahim Shuaibu in Kano The Emir of Kano, Aminu Ado Bayero and 139 other passengers onboard Max Air flight yesterday escaped death when their flight that took off from the Aminu Kano

International Airport (AKIA), Kano was hit by a bird, which forced one of the two-engine aircraft to malfunction, prompting the pilot to return to base.

THISDAY learnt that the aircraft, a Boeing 737 aircraft with the registration number: 5N: BBM

FG Stops Issuance of Passports as New Regime Begins June 1 Chinedu EzeinLagosandKuni Tyessi inAbuja The federal government has stopped issuance of international passports after shutting down the platform at the Nigerian Immigration Service (NIS) in the midnight of May 17 to last till May 31, 2021.

THISDAY learnt that the new regime, which would start on June 1, 2021, might entail increase in the cost of passport fees and extension of the period for the processing of the passports.

Informed source from the agency said that from June 1, it would take six weeks to process a passport and applicant would not come to passport office until invited by NIS for collection.

A circular issued to that effect dated May 17, 2021, signed by the

Comptroller General of Immigration (NIS), Mr. Muhammed Babandede and directed to the Managing Director, Newworks Solution & Investment Limited, stated, “Following the Minister’s directive, I hereby request you to block all payment for application of passports within Nigeria as from today, 17th to May 31, 2021.

“Consequent upon the foregoing, all PCOs are therefore directed to utilise this period, 17th May, 2021 to 31st May, 2021 to ensure that all backlogs are produced and handed over to command comptrollers for collection by members of the public concerned.”

The letter further stated that accordingly, new applications for passports, whether fresh or renewals “are by this circular suspended till 1st June 2021.”

had departed Kano for Abuja airport at 1:21pm, but made an air return barely nine minutes later when three blades in one of the engines were damaged by birds on take-off at the airport.

Eyewitness said the attack caused a big bang on the aircraft and the passengers were petrified, while many commenced prayers, not knowing what actually happened to the aircraft.

One of the passengers, Dr. Samaila Suleiman, said it was a near-death experience.

He disclosed that he heard a strange sound when the aircraft was taking off.

“I heard a strange sound during the take-off but brushed it aside.

I have used aircraft many times but had never heard such a sound during take-off.

“The cabin crew members and the pilot were helpless because they apparently lost control of the aircraft.

“Not even that radio announcement was made until we saw ourselves back at the airport where we took off.”

The aircraft operated with only one engine while gaining altitude on take-off.

THISDAY gathered that it made heavy noise and vibrated in the air, as the pilot struggled to stabilise it and return to Kano airport to land.

It was learnt that the Pilotin-Command later informed the passengers about the nature of the incident and returned to base to disembark the passengers.

The incident was confirmed by the Director-General of the

Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu in a telephone interview.

He explained that NCAA had immediately called for a meeting with the managements of the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA) to deliberate on how such occurrence could be curbed in the future, stressing that bird strike could cause grave damage to aircraft.

WORKING VISIT… Legislative, Judiciary Workers’ L-R: Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh (left), and Rivers State Strike May End Tomorrow, Says FG Governor, Mr. Nyesom Wike, during Jamoh’s working visit to Port Harcourt, Rivers State…yesterday Wades into NLC-Kaduna face-off Gunmen Abduct Katsina Judge Inside Court

Onyebuchi Ezigbo in Abuja

The federal government has disclosed that the striking judiciary and legislative workers may call off their strike Thursday (tomorrow), just as it stated that it has waded into the strike and picketing in Kaduna State by the two labour centres.

A statement signed by the Assistant Director, Press and Public Relations, Mr. Charles Akpan said the Minister of Labour and Employment, Senator Chris Ngige has appealed to the Kaduna State Governor, Mallam Nasir El- Rufai; President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba as well as President of the Trade Union Congress (TUC), Comrade Rasheed Olawale to immediately ceasefire.

The statement said that federal government was aware of what was going on in Kaduna State, which is threatening to snowball into a national strike and picketing by the two labour centres and affiliate unions .

“We also appeal the to the leaders of the labour centres to step down action to make way for discussion .

“My Ministry is wading into the matter and therefore calls on the two warring parties to give peace a chance .

The minister also appealed to all workers on essential duties including doctors and nurses not to join the strike.

“Importantly, I appeal to workers in critical sectors not to tamper with electrical or water installations so as not to bring more sufferings to the people of Kaduna and the nation at large.

FG’s Silence over Burning of INEC’s Offices Worrisome, Says PDP Chuks Okocha in Abuja The Peoples’ Democratic Party (PDP), yesterday, expressed worry over the silence of the federal government on the burning of offices of the Independent National Electoral Commission (INEC) across the country.

The National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, noted during a press conference at the party’s national secretariat in Abuja that it is surprising that the All Progressives Congress (APC) led federal government has not said anything concerning the burning of not less than 20 INEC’s offices across the country.

He said that the PDP is suspecting that the APC might be behind the arson on INEC’s offices to create an emergency situation that would allow the party to stall the 2023 polls.

“Approaching the 2023 election, we are worried as a party that the APC led federal government is silent in spite of the burning and attacks on INEC offices.

“And we are suspicious that the APC having failed Nigerians and realising that they cannot win subsequent elections are responsible for this chaos, because they are working on creating an emergency situation to forestall subsequent elections,” he said.

A Sharia court judge, Alhaji Hussaini Samaila, was yesterday afternoon kidnapped in the Safana Local Government Area of Katsina State.

Bandits reportedly swooped on the judge’s court located at Bauren Zakat village in the council and

whisked him away.

The spokesman of the Katsina Police Command, Gambo Isah, confirmed the incident last night.

He explained that an investigation had already commenced.

The police spokesman said the court had already been relocated

to Safana town due to security challenges at the village.

He also explained that the judge did not request police protection while going to the village.

Isah said, “The court has already been relocated from the village to Safana due to security challenges.

Also, the judge did not request police orderly and the necessary security backup that is supposed to be around when courts are sitting. So, nobody was aware of his visit to the court, more so, when there is an ongoing strike by the judicial workers.”

Niger Gov Confirms Killing of Three Soldiers By Bandits Laleye Dipo in Minna The Niger State Governor, Mr. Abubakar Sani Bello has confirmed that three soldiers lost their lives yesterday in an encounter with bandits in Mariga town of Mariga Local Government Area of Niger State.

Two bandits lost their lives in the encounter.

Bello, who disclosed this after a state security meeting held at Government House Minna, said many people escaped with varying degrees of injuries as a result of the encounter. “ The three soldiers were killed by bandits and our security men are trailing them. I can assure you that they will be arrested soon.

Some of the bandits were killed as

two bodies have been recovered so far. I am very hopeful that in the next few hours or days, we should be able to apprehend them.”

Bello stated that though, the state was still faced with serious security challenges, the security forces were working tirelessly to address these challenges especially in

communities that recently suffered attacks by Boko Haram and bandits.

“Though, we have alot of security challenges, I hope very soon it will come to an end. The security forces are doing their best to tackle the situation. Presently, I want to commend our Service Chiefs and Security agencies for a job well done so far”.

Germany to Build Pavilion for Storage of Returned Benin Artifacts Davidson Iriekpen in Abuja and Olawale Ajimotokan in Abuja Germany has assured the federal government of its readiness to build a pavilion which will be the centre for the returned Benin objects to enable their storage as well as be a public centre where the returned artifacts will be displayed.

The Director-General for Culture and Communication of German Foreign Affairs, Mr Andreas Gorgen, who led the visiting German delegation made the disclosure yesterday during a meeting between them and the federal government delegation to work out the modalities for the repatriation of the Benin antiquities.

This facility will be built as part

of the National Museum complex in Benin, which ultimately will be part of the cultural hub, which European partners and the National Commission for Museums and Monuments (NCMM), the Edo State government and the Royal Palace of Benin, through the Legacy Restoration Trust are constructing.

Gorgen, who noted that Nigeria has one of the most developed

museums in Africa, underlined the importance of Benin City and the country to the cultural heritage of humanity.

He acknowledged the significant efforts of the Nigerian government in addition to the leadership role of the Edo State Governor, Mr. Godwin Obaseki in the request for the repatriation of Nigerian artifacts.

Osinbajo Urges EU, UK, Others to Reconsider Ban on Fossil Investments Deji Elumoye in Abuja Vice President Yemi Osinbajo has called on the European Union (EU), United Kingdom (UK) and Denmark, as well as institutions such as the Swedfund from Sweden, CDC from the UK, the European Investment

Bank, and the Investment Fund for Developing Countries from Denmark, to reconsider ban on fossil investments.

According to him, investments in fossils are being sustained in wealthier countries, hence banning gas investments in developing nations raises questions around

equity, justice, and inclusion as the global community approaches the Net-zero emission target of 2050.

This is just as he said an energy mix compatible with a 1.5°C pathway would require $40 billion to flow into Sub-Saharan Africa annually; a fourfold increase compared to the $10 billion

invested in 2018.

Osinbajo stated these in his keynote address yesterday at the 7th Annual New Yorkbased Columbia University Global Energy Summit organised by the Columbia Centre on Global Energy Policy.

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NAFDAC Approves Janssen COVID-19 Vaccine for Nigeria Onyebuchi Ezigbo in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) has granted approval for a conditional emergency use authorization for Johnson & Johnson (J&J) COVID-19 also known as Janssen vaccine to

prevent COVID-19.

It is to be administered to people from 18 years of age.

In a statement issued yesterday in Abuja, the Director General of the agency, Prof. Mojisola Adeyeye said that: “After a thorough evaluation, the NAFDAC Vaccine Committee concluded that the

France Ready to Assist Nigeria Tackle Insecurity, Says Macron Deji Elumoye in Abuja France has expressed its readiness to help Nigeria solve the myriad of security challenges facing the country.

This assurance was given yesterday by the French President, Mr. Emmanuel Macron, at a bilateral meeting, during which he hosted Nigerian President Muhammadu Buhari on the sidelines of the Financing Africa Summit in Paris.

Presidential spokesman, Garba Shehu, in a statement late last night quoted President Macron as saying the French government will absolutely be there on the side of Nigeria and willing to support with everything to assist the country to overcome

the security threats.

French President Macron further pledged his steadfast support for Nigeria and its people as they confront the security challenges facing the country.

President Buhari and his French counterpart, Macron also expressed the commitment of Nigeria and France to working together to fight insecurity bedeviling the Lake Chad basin area and entire stretch of the Sahel region.

The President, at the meeting, outlined the challenges all round facing the country as well as its neighbours and spoke about the steps he has taken to reignite response to the situation, which he said included the appointment of new Service Chiefs.

Lagos Rolls out 500 Buses Segun James and Vanessa Obiora The Lagos State Government is set to commence the construction of two more transport interchanges at Mile 2 and Marina, the state Governor, Babajide Olusola Sanwo-Olu, has disclosed.

This is as he said the Intra-City Light Rail Lines would become operational by the fourth quarter of 2022.

The governor, who stated this at the inauguration of 500 first and last Mile 2 Line buses at the Lagos House in Ikeja, said the “interchanges will serve as interconnecting hubs for commuters whose journey require more than one mode of transportation to get to their destinations.”

According to him, “In the last two years, we have taken steps to create and bequeath to the state enduring transport

infrastructure and systems, which future generations would be proud of. Our Bus Reform Initiative (BRI) is an ambitious road transportation effort, which encompasses a number of transportation projects, including the construction of bus terminals and interchanges in the state.”

Sanwo-Olu, realising that the transport system is the backbone of any thriving economy, said the transport sector is a very important part of his THEMES initiative, which would ensure that residents have seamless movement, disclosing that there are more bus terminal projects in different stages of completion at Agege, Ojota, Ajah, and the NAHCO area of the Murtala Mohammed International Airport, Ikeja.

He added that closely affiliated to the Bus Reform Initiative of the government “are our robust rail and water transportation projects which are also gathering pace.

Umahi, EbonyiYouths Not Involved in Cultism, Criminality, Says State Govt Ebonyi State Government has denounced statements by the National Assembly caucus of the Peoples Democratic Party (PDP) portraying Governor Dave Umahi and Ebonyi youths as involved in criminality and cultistism.

Reacting to a press conference addressed by the former governor of the state, Senator Sam Egwu, the Commissioner for Information, Mr. Uchenna Orji described the allegations as “ridiculous, seditious, baseless, absolutely unfounded, utterly irresponsible and gravely senseless, more so as it is most regrettably coming from people who claim to represent their state in the National Assembly.”

He urged the public to discountenance the claims as

nothing but a continuation of the consummation of their serial media attacks on the governor with the sole objective of diminishing his celebrated leadership hallmarks and slow down the tempo of his accomplishments.

“But they will not succeed by the power of God,” he stated.

“We are not surprised that the Abuja group could be so carelessly petty and partisanly cheap in their falsehood that they could associate Ebonyi youths and the Ebubeagu security outfit with allegations of cultism and armed criminalities, just to reap negative sentiments from the gullible on the security situation in the state.”

data on the vaccine were robust and met criteria for efficacy, safety and quality”.

She said that the data also showed that the vaccine’s known and potential benefits outweighed its known and potential risks thereby supporting the manufacturer’s recommended use.

Janssen COVID-19 vaccine is the third vaccine recommended in

Nigeria for preventing COVID-19 vaccine efficacy.

The vaccine is to be administered as a single dose.

According to NAFDAC, results from a clinical trial involving people in the United States, South Africa and Latin American countries found that Janssen COVID-19 vaccine was effective at preventing COVID-19 in people from 18 years of age.

While giving details of the approving processes underwent by the vaccine, NAFDAC said that its phase III clinical trial involved over 44,000 people, half of whom received a single dose of the vaccine and half were given placebo (a dummy injection).

It said that people did not know if they had been given Janssen COVID-19 vaccine or placebo.

“The trial found a 67 per

cent reduction in the number of symptomatic COVID-19 cases after two weeks in people who received Janssen COVID-19 vaccine. The most commonly reported side effects were pain at the injection site, headache, fatigue, muscle aches and nausea.

Most of these side effects were mild to moderate in severity and lasted 1-2 days.vaccine safety,” it said.

SEALED AND DELIVERED…

L-R: Head, Project Development and Administration Unit, International Institute of Tropical Agriculture (IITA), Mr. Kayode Awobajo; Director General, Premier Agribusiness Academy, Mr. Toromade Francis; Deputy Director General, Partnership for Delivery, IITA, Dr. Kenton Dashiell; and CEO, IITA Business Incubation Platform, Mr. Frederick Schreurs, at the MoU signing ceremony in Ibadan, Oyo State…recently

Nigeria Lost $3.5bn to Ports Concession, $90.5m to Airports Deals, Says House Udora Orizu in Abuja

The House of Representatives yesterday said the country lost over $3.5 billion from the concession of 26 ports in Nigeria, by the Nigerian Ports Authority

(NPA) and another $90.5million to airports’ terminals concession

by Federal Airports Authority of Nigeria (FAAN).

Chairman of the House of Representatives ad-hoc committee investigating the

governing lease of federal government-owned assets, Hon. Daniel Asuquo, made the disclosure at an investigative hearing in Abuja.

He said the essence of the hearing was to conduct an

in-depth investigation into all leases and concessions of federal government-owned assets with a view to plugging leakages and enhancing government revenue generation for budget implementation.

Abiodun Suspends Aide Arrested in US over Alleged $350m Fraud Ogun State Governor, Prince Dapo Abiodun, has suspended his Senior Special Assistant (SSA) on Special Duties, Mr. Abidemi Rufai, following his arrest in New York by Federal Bureau of Investigation (FBI) over alleged involvement in $350million unemployment benefits fraud in respect of COVID – 19 pandemic.

Reacting through his Chief Press Secretary, Mr. Kunle Somorin, the

Ogun State governor said the news of his aide’s involvement in fraud was disturbing.

He, however, said the “governor cannot be held responsible for the actions of a full grown adult.”

“We received the very disturbing news of the arrest of one of the governor’s political appointees, Mr. Abidemi Rufai in New York over alleged unemployment benefits and

fraud in the United States, this morning.

“While the governor cannot be held responsible for the actions of a full grown adult, especially outside the jurisdiction of Ogun and Nigeria, he has since suspended the suspect from office to enable him answer the charges levelled against him.

“The governor wishes to condemn any act capable of

undermining his determination to institute an open, transparent, accountable and morally upright behaviour in the State and in governance.

“Governor Abiodun remains committed to his agenda of building our future together and will not condone criminals either in his government or the state in general.”

EFCC Staff Take Fresh Oath of Office Commission arrests 33 alleged army deserter, internet fraudsters Kingsley Nwezeh in Abuja Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, yesterday led officials of the commission to take fresh oath of allegiance.

A statement issued by the commission said it was part of ongoing reform efforts to improve

efficient delivery of its mandate.

It said the oath was in compliance with the Official Secrets Act and the newly adopted document classification policy of the commission.

It said “officials of the Economic and Financial Crimes Commission, EFCC, today May 18, 2021 took fresh official oaths, pledging among others, to perform their

duties diligently and honestly.

“The Executive Chairman, Abdulrasheed Bawa, led other categories of staff to take the oath in compliance with the Official Secrets Act and the newly adopted Document Classification Policy of the Commission”.

Meanwhile, operatives of Ibadan zonal office of the commission yesterday arrested a former

soldier, Adebisi Jamiu and 33 other suspected internet fraudsters.

It said the suspects were picked up in different locations in Osogbo, the Osun State capital.

The 22-year-old former soldier, Jamiu and the other suspects were arrested on the strength of verified intelligence on their alleged involvement in cybercrime.

ACF Urges El-Rufai to Rescind Decision on Dismissal of Nurses John Shiklam in Kaduna The Arewa Consultative Forum (ACF) has appealed to the Kaduna State Governor, Mallam Nasir el-Rufai to rescind his decision on the dismissal of nurses below level 14 and seek for peaceful resolution of the crisis with the Nigerian Labour

Congress (NLC).

In a statement issued last night, the spokesman of the forum, Mr. Emmanuel Yawe, said the sacking of the nurses would complicate issues.

“The governor should rescind the decision to sack nurses below level 14 and seek for peaceful resolution of the problem.

“Sacking of nurses will not bring about peace, but complicate the issue”, Yawe said.

The statement also urged the state government to reconsider its decision on downsizing its work force.

Yawe, said Nigeria was already faced with so many problems, adding that a strike action that

has crippled the strategically located town of Kaduna for days running would only make things worse for the ordinary man.

The statement lamented that “for two days now the activities of the Kaduna State Government have been crippled by a strike called by the NLC.

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Again, Delta Asks FG to Return £4.2m Recovered Loot Okowa dissolves cabinet Alex Enumah in Abuja and Omon-Julius Onabu in Asaba The Delta State government yesterday restated its plea to the federal government to return to the state the £4.2 million first tranche recovered from the associates of a former governor of the state, Chief James Ibori.

The state was reacting to a confirmation yesterday by the Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Abubakar

Malami (SAN), that the federal government was in receipt of the £4,214,017.66 from the United Kingdom (UK).

The recovered loot came after about two months the federal government and its UK counterpart announced that modalities have been perfected for the return of the funds to Nigeria.

The money, according to a statement by Dr. Umar Gwandu, media aide to Malami, “has been credited into the designated

federal government account with naira equivalent value of the amount as of May 10, 2021.”

Malami stated that the development was a demonstration of the recognition of Nigeria’s transparency in the deployment of recovered loot to fund public projects.

The Delta State Government and the people have been clamouring that the funds be returned to the state since it was stolen from there; or alternatively,

spent on projects in Delta State.

The federal government on the other hand during the signing of a Memorandum of Understanding (MoU) with the United Kingdom on March 9, had announced that the money would be spent on three priority projects: Second Niger Bridge project, Lagos Ibadan expressway and the Abuja-Kano expressway.

Meanwhile, the Delta State Government, while welcoming

the return of the money, said since the money was illegally taken out of the state’s treasury, it should be returned to the state.

The state Governor, Senator Ifeanyi Okowa, also yesterday dissolved the Delta State Executive Council (EXCO) and directed the Secretary to State Government (SSG), all commissioners and the governor’s aides to surrender all vital government documents

and property to their respective permanent secretaries in the ministries, departments and agencies.

The outgoing state Commissioner for Information, Mr. Charles Aniagwu, reiterated the position of the state government on the just repatriated funds while briefing journalists on resolutions and approvals at the state Exco meeting yesterday before its dissolution.

Senate Faults Buhari’s Lopsided Appointments Deji Elumoye in Abuja The Senate yesterday faulted the lopsidedness in the appointment of federal board members

by President Muhammadu Buhari just as it confirmed the appointment of 12 Board members for the National Human Rights Commission, (NHRC), forwarded to it by the President.

The confirmation of the NHRC nominees followed the consideration of the report of the Senate Committee on Judiciary, Human Rights and Legal Matters, chaired by Senator Opeyemi Bamidele.

The nominees are: Dr. Salamatu Hussaini Suleiman as Chairman; Joseph Onyemaechi Mmamel, Ahmad Abubakar Fingilla, Kemi Asiwaju-Okenyodo, Abubakar Muhammed, Femi Okeowo,

Sunday Etim Daniel, Agabaidu Chukwuemeka Jideani, Mrs. Nella Andem-Rabana (SAN), Azubuike Nwakwenta, Jamila Isah and Mrs. Idayat Omolara Hassan, as members of the commission.

In his submission, the ranking Senator noted that the composition of the Governing Council of the National Human Rights Commission as presented to the 9th Senate, did not comply with the provisions of the Constitution as it relates to the Federal Character Principles.

Bamidele maintained that absolute compliance with the provisions of the Constitution was not a choice but a fundamental obligation imposed on individuals, government and all its functionaries, as encapsulated in Section 13 of the Constitution.

We are Helping Nigeria Tackle Insurgency, Says Britain Davidson Iriekpen The British Government has said it is helping the Nigerian military to build its capacity to tackle the Boko Haram insurgency in the North-east.

The British High Commissioner to Nigeria, Ms. Catriona Laing, spoke yesterday in Port Harcourt, Rivers State, after a closed-door meeting with the Rivers State Governor, Mr. Nyesom Wike.

Laing also harped on the forthcoming 2023 general election, saying it must be better than the previous poll.

According to a statement issued by the Rivers State Government, the envoy said the world would keenly monitor the forthcoming poll, saying there must be concerted efforts to improve the country’s democracy.

She said: “The importance of these elections, how crucial they are, not just for Nigeria’s democratic journey, but for Africa and the world. The world’s spotlight will be on Nigeria in 2023. It needs to be a better election, not perfect but better to consolidate and improve Nigeria’s democracy, and I think the governor very much agree with me on that.”

She said Britain was helping the Nigerian military to build its combat capacity in tackling insurgency, including Boko Haram in the northern part of Nigeria.

She said the British military had its presence in Nigeria for many years and had continued to offer training on how to counter insurgency in the northern part of Nigeria.

Supermodel Naomi Campbell Welcomes First Child at 50 American supermodel, Naomi Campbell, has welcomed her first child – a baby girl — at the age of 50.

Describing the joy she felt as a mother, the superstar said, “a beautiful little blessing has chosen me to be her mother.”

The legendary American model took to her Instagram account to announce to her 10.4 million followers that a bundle of joy has been added to her family.

“A beautiful little blessing has chosen me to be her mother. So

honoured to have this gentle soul in my life. There are no words to describe the life-long bond that I now share with you my angel. There is no greater love,” she wrote.

In May 2017, Campbell told Evening Standard magazine that she had thought about becoming a mother but wasn’t in a rush to make it happen at a specific time.

“I think about having children all the time,” she said at the time.

“But now, with the way science is, I think I can do it when I want.”

PROMOTING GOOD PARENTING…

Author, 21st Century Parenting, Mrs. Tochi Opara (left), and Minister of State, Mines and Steel Development, Mr. Uche Ogah, at the public presentation of Opara’s book in Lagos…recently

PDP Berates APC over Attack on Opposition Party Govs Chuks Okocha in Abuja The Peoples’ Democratic Party (PDP) has condemned what it described as a desperate attempt by the All Progressives Congress (APC) to frustrate the aspiration of Nigerians in finding solutions to the alarming state of insecurity and economic hardship in the country as embodied in the communique that was issued

by the PDP governors at the end of their crucial meeting in Ibadan on Monday.

Addressing a press conference in Abuja yesterday, the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, said that it is on record that the ideals of good governance have been wrecked by the APC’s administration in the last six years.

The PDP said: “By criticising

the PDP governors meeting and communique, the APC, as a party, has further showcased its internal failures in steering the ship of state on the right course.

Ologbondiyan said: “The action of the APC has also confirmed the opinion in the public space that the APC has lost touch with reality and as such is no longer in sync with the fears, anxieties and aspirations of Nigerians having

lost total bearing with the essence of governance.”

The main opposition party said that it is only a fizzling political association like the APC that would attempt to politicise and deride a clear consensus

by Nigerians as expressed in the coming together of state governors, who are seeking for the restoration of sovereignty in a near hopeless situation.

PANDEF Backs Southern Govs’ Call for Restructuring, Condemns Lawan’s Stance Deji Elumoye and Udora Orizu in Abuja The Pan Niger Delta Forum (PANDEF) has expressed its support to the call by southern governors for restructuring and ban on open grazing, amongst other national issues.

This was contained in a communique the forum issued yesterday at the end of its general

assembly conveyed to appraise the state of the nation, particularly as it concerns the worsening security situation, increasing agitations for secession, continued neglect of the Niger Delta Region by the federal government, the national discuss on the restructuring of the country and the recent meeting of southern governors in Asaba, Delta State.

The forum, in its communique that was signed by the National

Leader of the PANDEF, Chief Edwin Clark and the National Chairman of PANDEF, Senator Emmanuel Ibok Essien, condemned the comments attributed to Lawan and the provocative expressions of some northern elements, against the decisions of the southern governors on restructuring of the country and the banning of open grazing.

The PANDEF commended

the solidarity demonstrated by southern senators and members of the House of Representatives in supporting the resolutions of the southern governors.

The group deplored the worsening security situation in the country, calling on the federal government to live up to its constitutional responsibility of protecting lives and properties of citizens.

Senate Asks FG to Suspend NIN Requirement for UTME The Senate has asked the federal government to suspend the National Identification Number (NIN) requirement for students seeking to take the Unified Tertiary Matriculation Examination (UTME).

The upper legislative chamber passed the resolution after the

senator representing Anambra South, Senator Ifeanyi Uba, sponsored a motion on the matter.

The Senate also asked the Ministry of Education and the National Identity Management Commission (NIMC) to establish a decentralised process where students

can easily obtain their NIN. While moving the motion yesterday, Uba said students should be able to obtain the NIN at their schools.

The motion was adopted after Senate President Ahmad Lawan put it to a voice vote.

Joint Admissions and Matriculation Board (JAMB) had said all students must provide their NIN at the point of registration.

“This is mandatory for participation in the 2021 registration exercise,” Fabian Benjamin, JAMB spokesman, had said.

Civil Group Writes Sanwo-Olu, Seeks Ban of Commercial Motorcycles Alex Enumah in Abuja A civil society group has written the Governor of Lagos State, Mr Babajide Sanwo-Olu, over what they described as the increasing menace of commercial motorcycle riders otherwise known as Okada in the state.

The group Advocacy for

Societal Rights Advancement and Development Initiative (ASRADI), in an Save Our Soul (SOS) message to the governor, urged him to urgently put measures in place to bring to an end, “The terror being unleashed on Lagosians by Okada riders”.

The group in the letter signed by its Executive Director, Adeolu

Oyinlola, stated that the Okada riders operate in total disregard for traffic rules, thereby endangering the lives of other road users.

“In our opinion, the recklessness of these Okada operators is dangerous enough to warrant an outright ban because according to some LASTMA operatives we interacted with, it is standard

fare for Okada riders in Lagos to carry knives with them. Some, we gather, tuck guns away on their motorcycles”, Oyinlola stated.

The group stated that motorists are helpless on most occasions when their vehicles were damaged by the Okada riders who hardly need any “motivation before unleashing mayhem in the city.

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WEDNESDAY MAY 19, ͺ͸ͺ͹˾ T H I S D AY

WEDNESDAYSPORTS

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NCAC to Adapt Iheanacho’s FA Cup Flag Celebration into Art Contest Olawale Ajimotokanin Abuja The National Council for Arts and Culture (NCAC) will immortalise Kelechi Iheanacho’s

uncommonly display of patriotism after Leicester City’s FA Cup victory over Chelsea at Wembley Stadium last Sunday by instituting

Taiwo Awoniyi Granted Work Permit Six Years after Signing for Liverpool Liverpool’s Nigerian striker, Taiwo Awoniyi has been granted a work permit to play in the UK - six years after signing for the club.

The 23-year-old joined Liverpool on a long-term deal in August 2015 from Nigeria’s Imperial Academy, but has never played for The Reds due to his inability to secure a work permit.

It means Awoniyi, who is currently on a seventh loan spell outside of the United Kingdom at German side Union Berlin, is now eligible to be included in the Liverpool squad for next season.

“It’s been a long process but finally (Taiwo) Awoniyi can now focus on his career either

Taiwo Awoniyi ...granted UK work permit six years afterLiverpool deal

at Liverpool or somewhere in England,” a top official at Imperial Academy told BBC Sport Africa.

“He has the ambition to play in the Premier League and hopefully he can do that next season.”

Fit-again Awoniyi, who has a contract with Liverpool until June 2023, scored five goals in 20 appearances for Union Berlin despite an injury-blighted campaign in the Bundesliga.

Since becoming a Red, the forward has enjoyed loan spells with then German second-tier club FSV Frankfurt, Dutch side NEC Nijmegen, Belgian outfits Royal Excel Mouscron (twice) KAA Gent and Mainz in order to attract interest from national selectors and gain a work permit.

An Under-17 World Cup winner with Nigeria in 2013, Awoniyi has represented the West African country at all youth levels.

He played at the 2015 Under-20 World Cup in New Zealand, netting twice and then helped Nigeria win the 2015 Under-23 Africa Cup of Nations in Senegal.

an art contest to represent the Super Eagles striker’s standout celebration where he was fully wrapped with the Nigerian flag.

Iheanacho scored his 12th goal of the Premier League this season last night as Leicester fell 1-2 to Chelsea at Stamford Bridge.

The Director General of NCAC, Otunba Olusegun Runsewe, yesterday unveiled the plan to produce the artistic impression in collaboration with the Society of Nigerian Artists (SNA), Abuja and Federation of Tourism Associations of Nigeria (FTAN) as a show of extreme love and indivisibility of Nigeria.

He said the contest is open within the next one month

to traditional 2D artists, who specialise in areas of painting, printmaking and drawing.

Runsewe, who addressed the press with the Acting President of FTAN, Nkereuwem Onung and Chairman SNA, Chike Emembo, said apart from financial awards, the best three entries will be presented to the Ministers of Information and Culture and Youth and Sports.

The NCAC DG, who assured the journalists that he will present a copy of the artistic impression to Leicester City for posterity said that the winning entries will also be fully exhibited at a stand in Ekiti State during the 2021 National Festival of Arts and Culture and kept in

NCAC’s Hall of Fame and art gallery as a living memory of Iheanacho’s metaphor of the merger between culture and sports.

“We will drop this artistic impression at every Nigerian Embassy where ever we travel to. If we start promoting our country and if everybody realizes that if you do a good thing, you will be recognised, the number of people doing bad things will reduce. We also need to reawaken of our stars. Culture is one of the platforms that can unite us and for us to network as Nigerians,” Runsewe stressed.

He said NCAC’s is determined to use culture to unite, institute peace and make relationships better in

the country.

He also applauded the ingenuity of Iheanacho for glamourising the FA Cup celebration by wrapping himself with the national flag while also carrying a basket.

“When you are watching football, you don’t discuss religion and tribe. Sports is not about violence. Rather, it is a platform of bringing people together and a unique platform for us to celebrate the best among us,” Runsewe concluded.

Interestingly, music from top Nigerian stars dominated Leicester City’s dressing room celebration, with both Iheanacho and Wilfred Ndidi leading other players in rocking to the tunes.

2021 AFCON COUNTDOWN

Uchegbulam Lauds CAF on Senghor, Pinnick Appointments Erstwhile First Vice President of the Nigeria Football Federation (NFF), Amanze Uchegbulam, has said that the continent’s flagship competition, Africa Cup of Nations (AFCON) would enjoy a new lease of life with the appointments of President of the Senegalese Football Federation Augustin Emmanuel Senghor and his Nigerian counterpart, Amaju Melvin Pinnick, in the new management committee.

The continental soccer ruling body CAF announced on Monday ‘a new team that will lead the work of CAF in the standing committees’ with the approval of both Senghor and Pinnick as the two vice presidents to manage the Organising Committee of Total Africa Cup of Nations to be headed by CAF President, Dr. Patrice Motsepe.

“Frankly, I’m happy with the appointment of both Senghor and Pinnick in the new management team for the Organising Committee of the Total Africa Cup of Nations and I have no doubt that they will assist the CAF President in ensuring that the competition becomes bigger and better,” Uchegbulam, who served for many years as Vice President of CAF Board of Appeal, said in a statement.

Uchegbulam further said the forthcoming AFCON 2021 in Cameroon slated for between January 9 and February 6, 2022, would be a big test for the continent since it would accommodate 24 teams for the first time.

He added that CAF has started on a positive note with the approval of the new management team for the continent’s most sought-after trophy.

Kelechi Iheanacho wrapped in the Nigerian flag celebrating Leicester City’s FA Cup victory against Chelsea...on Sunday evening

NASS Urges Awareness for Africa Mini-Football Nations Cup Olawale Ajimotokanin Abuja The members of the National Assembly have urged the organisers of the second Africa Mini-Football Nations Cup scheduled for Ibadan, Oyo State from July 8to 17 to ensure adequate sensitization for the tournament.

The Vice-Chairman Senate Committee on Youth and Sports Development, Senator Kola Balogun, and the Chairman, House Committee on Youth and Sports Development, Hon Olumide Osoba, complained about lack of publicity at a meeting

with the visiting members of Nigeria Mini Football Association. They urged the association to heighten the tempo of the publicity for the tournament.

While promising to encourage the growth and development of the Mini-Football in the country, Senator Balogun, who deputised for the Chairman, Senator Obinna Ogba, told visiting members of the NMA that little is known by the public that a tournament of the magnitude of the Africa Mini-Football Nations Cup

would hold in the country.

However, a member of the Senate Committee on Youth and Sports Development, Senator Uche Ekwunife, has promised to assist the NMA in the publicity aspects of the continental tournament through her radio station should the NMA so request.

“Write me a formal letter, and I will support you in the area of publicity through my radio station”, she said.

The Chairman NMA, Hon Oluyemi Adewale Taiwo, who led members of the association on the visit, told the legislatures that

the purpose of their visit was to seek their support and intervention as an institution that superintends all sports in the country.

In another development, Africa Mini-Football Confederation President, Achraf Ben Salha, arrived in the country yesterday with Tarik Zakaria, a member of AMC on inspection of the facilities in Ibadan. The Tunisians left for Ibadan for the inspection yesterday and will meet Governor Seyi Makinde after the inspection.

Nigeria’s Victorious Para-Athlete Medalists Back from Switzerland The Nigerian Para-Athletics team to the just concluded 2021 World Para-Athletics Grand Prix in Nottwil Switzerland returned to the country yesterday morning via Qatar airline.

The team won 11 gold and 5 Silver medals at the Championship.

Multi-gold medalist Flora

Ugwunwa led the medal haul with 3 gold medals while Chituru Nwaozuzu, Eucharia Iyiazi, Onyegbule Lovina, Ahiaukwu Joy, Lauretta Onye, Amon Abraham and Edosomwan Osahon accounted for the rest of the gold medals.

The five silver medals were won by Chituru

Nwaozuzu, Eucharia Iyiazi and Michael Olushola.

Olushola in particular won two silver medals at the weeklong Championship that lasted between May 11 and 17,2021 in Nottwil Switzerland.

President of the Nigeria Para-Athletics Federation, Hon. Amobi Chikwendu,

while congratulating the athletes for making Nigeria proud at the Championship, equally thanked the Minister of Sports, Chief Sunday Dare who took it upon himself to ensure that Nigeria ParaAthletes featured at the competition that also served as Tokyo 2020 Paralympic

Games qualifier.

Nigeria went with 10 athletes under the supervision of two coaches, Patrick Anaeto and Divine Jemerigbe In all, Nigeria won a total of 16 medals at the event.

Although five Nigeria Para-Athletes had

already booked their tickets to the Tokyo 2020 Paralympic Games, this latest performance has now doubled the number of para athletes to represent Nigeria when the international Paralympic Committee finished compiling all the qualified athletes for the Games in the Far East.

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Man City Owner, Mansour, to Fund Supporters’Trip to UCL Final Manchester City have announced that Sheikh Mansour will fund the flight and transfer costs for supporters on the official club trip to the UEFA Champions League final.

City are set to fly out to Portugal to meet Chelsea on May 29, with costs already soaring through the roof before you even consider the extra costs of Covid-19 tests and precautions.

A recent ruling in Portugal means fans travelling from England must arrive and depart within 24 hours of the final, and the limited number of flights means tickets can cost an arm and a leg for fans lucky enough to even find a spare.

Wary that the inflated costs could make a trip to the

match impossible for some fans, City confirmed on their official website that Mansour is prepared to personally pay for flights and transfers for the thousands of City fans on the club’s travel package.

“Pep (Guardiola) and the team have had such a remarkable season and their reaching the Champions League Final after a very challenging year represents a truly historic moment for the Club,” said Sheikh Mansour.

“It is therefore incredibly important that as many fans as possible have the opportunity to attend this special game.

Especially those who have supported Manchester City through good and bad times for so many years.”

Chairman Khaldoon Al Mubarak added: “The

challenges faced by supporters ahead of this final are multiple, both in financial and logistical terms.

“Hopefully His Highness’ initiative allows the majority

of our attending fans to focus on enjoying the day rather than worrying about how to bear the burden of travel costs which have become all the more onerous due to the effects of the pandemic.”

City played in front of fans for the first time this season in April’s Carabao Cup triumph, with 2,000 supporters allowed into Wembley for the event.

10,000 supporters will be

permitted into City’s final Premier League home game of the season - the meeting with Everton on May 23 - before 6,000 can make the trip out to Portugal for the UCL final.

All Eyes on Ondo, Oyo at 2021 NTTF National Championships Thirty-two men and 16 women’s teams started their campaign for the top prize at stake at the 2021 NTTF National Championships which started yesterday at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium.

Oyo and Ondo teams are the champions at the 20th National Sports Festival in Benin City with Taiwo Mati spearheading the Ondo boys while experienced Halimat Hussein is leading the Oyo ladies.

Also, cadet players were in action on the opening day of the championship with 16 battling for places in the knockout stage of the singles event with Matthew Kuti being the star attraction.

A confident Mati believes his mission in Lagos is to

lead Ondo to the podium as well as claim the men’s singles title.

“I have positive feelings about this tournament because I have been training and working hard. I am sure that I will perform very well and that is my target and at least to be among the top four because this will be a very tough competition.

“At the National Sports Festival, I lost in the first round and I was very disappointed but I tried not to let that weigh me down and I quickly made some amendments in my game with my coach and that showed at the just concluded Aso Championship in Abuja despite where I lost in the final,” the captain of the junior national team stressed.

Eric Cantona (left) and Roy Keane have been listed into Premier League Hall of Fame

Man Utd’s Legends, Cantona, Keane Named in Premier League Hall of Fame Former Manchester United team-mates Eric Cantona and Roy Keane have been inducted into the Premier League Hall of Fame.

They join Alan Shearer and Thierry Henry, who were the first players to be inducted last month.

Cantona joined Sir Alex Ferguson’s side from Leeds in 1992 and won four Premier League titles in five seasons.

“I am very happy and very proud, but at the same time I am not surprised,” said the Frenchman, 54.

“I would’ve been surprised not to be elected. I have been lucky to play in this team, with wonderful players, a wonderful manager and wonderful fans.”

The France international won the old First Division title with Leeds in 1991-92 and then scored 70 goals in 156 Premier League appearances for Manchester United, before retiring from football in 1997.

Cantona also famously launched a “kung-fu” kick at a fan after being sent off at Crystal Palace in January 1995, for which he received a nine-month ban.

Irishman Keane was another dominant figure for Manchester United, leading them to seven Premier League titles during his 12 seasons at the club before his departure by mutual consent in 2005.

Keane said: “I feel very lucky to be inducted but I’ve only been inducted because of the players I’ve played with.”

They were two of six more inductees to the Hall of Fame being announced this week.

They have been selected from a 23-man shortlist based on the most combined votes from the

public and a Premier League panel.

Full 23-man shortlist Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.

Remembering Prince William of Lagos Polo Club @80 Duro Ikhazuagbe

Once upon a time, the membership of the Lagos Polo club was graced by a quintessential real life prince in the personage of His Royal Highness, Prince William of Gloucester, a first cousin of Queen Elizabeth who was fourth in line to the throne when he was born in 1941 and ninth by the time he arrived Lagos in December

1965 as a 26-year-old fledgling diplomat to take up position in the British High Commission as the Third Secretary.

Via Lazards, the merchant bank in London, Eton College, Cambridge and a post-baccalaureate year at Stanford University in California studying political science, American history and business, Prince William became only the second royal, behind his uncle Prince George, Duke of Kent to undertake a

job in the civil service.

Smart and incredibly athletic, William was well-regarded as a daredevil prince – taking on several dangerous hobbies, including; flying, ballooning and hiking in the Sahara Desert. Polo and water sports were routine pastimes.

In Lagos, the prince naturally joined the polo club among other high octane adventures including regular power boating to Takwa Bay beach island near the

Prince William (second left, wearing a blazer) celebrating winning the Majekodunmi Cup with his Lagos Diamonds teammates at the Lagos Polo Club in 1968

Lagos harbour, an experience he particularly enjoyed so much that he named his black Labrador retriever “Tarkwa”. “Ever since Turkey had his picture in the paper the other day, he’s thought of himself as a celebrity.”

William once told the New York Times correspondent during a polo match in 1968 which he spent part of his time filming the action and part retrieving Tarkwa from under the feet of the other spectators in the VIP seats.

Also, whenever then Head of State, General Yakubu Gowon attended, Prince William if he wasn’t playing, always took a pride of place next to him, ahead of all other VIPs including his boss, the British High Commissioner, Sir Francis Cumming-Bruce.

Several of his Lagos Polo Club contemporaries remember him as a very capable, competitive and jovial man with an electrifying presence that both awes and calms at the same time. Swiss-born Nigerian polo veteran, Kurt Walter added, “He of course knew people, even his teammates were unsettled in his presence, so he immediately throws

in a banter to steady the nerves, every encounter was always a memorable experience”.

In 1968, Prince William played his last Lagos polo tournament, winning the top prize, the Majekodunmi Cup with the Lagos Diamonds team shortly before he was transferred to the Tokyo Embassy as the second secretary.

The five years (1965-1970) he worked as a diplomat in Lagos and Tokyo were said to be some of the best years of his life.

He is said to have enjoyed his life, free from royal duties and protocol. He even met the woman he intended to marry had she been deemed appropriate in royal circles. His cousin, Princess Margaret, was sent to Japan to encourage him to think about his duties over the relationship.

In 1970, when his father, Prince Henry, Duke of Gloucester was suffering from numerous and serious strokes. He had to return to the UK to manage his father’s estate and take on duties as a full-time working royal.

In 1972, Prince William who was a qualified pilot and

who owned several aircraft himself was competing in the Goodyear International Air Trophy, near Wolverhampton, UK. His mother, the Duchess of Gloucester, was sitting in the stands to watch her son compete. Shortly after takeoff, he tragically lost control of the plane at a low altitude causing the wing to hit a tree and burst into flames.

His Royal Highness’s body was identified the following day through dental records.

William was the elder brother of Prince Richard (who is now the Duke of Gloucester). He would have inherited the Dukedom of Gloucester and celebrating his 80th birthday this year had it not been for his untimely passing.

William was greatly admired by his family, none more so than by his second cousin, Prince Charles, the Prince of Wales. When his own turn to become a father came around, Prince Charles named his first son, William (the Duke of Cambridge) in honour of Prince William of Gloucester. And for very many years, Prince William was feted as the world’s most eligible bachelor.

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FG to El-Rufai

“We hope and also urge the Kaduna State governor not to escalate matters to such a level where it becomes uncontrollable” – Minister of Labour and Employment, Chris Ngige, suing for peace in the ongoing face-off between Kaduna State government and labour.

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26 years

KAYODEKOMOLAFE The Other Costs of Insecurity T THE HORIZON

he Presidential Economic Advisory Council (PEAC) has estimated that the nation lost $10.3 billion last year to insecurity. At its last regular meeting with President Muhammadu Buhari, the council chaired

by Professor Doyin Salami, put the whopping figure as the economic cost of the criminal activities of terrorists, bandits, farmers/herdsmen clash, kidnappers, etc. in one year.

Doubtless, it is timely to draw the nation’s attention to the economic haemorrhage caused by the violent activities of some elements in the society.

However, it seems that adequate attention is not given to the more devastating and enduring costs – the humanitarian and other moral crises arising from the worsening insecurity in Nigeria.

There is hardly any sense of alarm when the humanitarian dimension of the crisis comes on display.

To put it mildly, it is worrisome that international humanitarian agencies appear to raise louder alarms about the sordid conditions in the camps of the Internally Displaced Persons (IDPs) than Nigerians themselves and their organisations. This is not to deny the compassionate and valiant efforts of individuals and organisations to mitigate the sufferings of the displaced. The dimension of the crisis shows that a lot more needs to be done.

Besides, there is the outrageous news of dehumanisation from the camps. Women and children have been reportedly raped and their vulnerabilities callously exploited. There have been shocking stories of corruption in the management of relief materials. Some of the official claims about the care for the needy in the IDPs camps have been severely contested.

Only last month, Governor Samuel Ortom of Benue state said more than a million persons are displaced in the state alone. There was hardly a sense of outrage felt in the land about this human story.

In the last few weeks, there have been fire outbreaks in Goverment Girls Secondary School

kayode.komolafe@thisdaylive.com

Buhari Camp, Kuya Primary School Camp, and Waterboard Camp in Borno state. About 2,416 shelters of 9,517 Internally Displaced Persons (IDPs) have been reportedly destroyed. Beyond the figures appearing in the headlines, the human story from a typical camp of IDPs is that of abysmal lack of food, water, shelter, healthcare, sanitation etc.

It is the story deprivation and misery. Women and children in particular are the worst affected categories in the camps.

Another estimate puts the number of IDPs in the northeast of Nigeria alone at about three million. The camps are not spared of attacks by the terrorists. Some of those displaced have been in the camps for years because their homes remain unsafe. The camps, by definition, are supposed to be temporary. That seems not be the case anymore.

Yet the magnitude of the dehumanising impact of the crisis is being downplayed as policymakers and their experts reduce everything to mere statistics.

But, in real terms we are talking of a matter of

0805 500 1974

flesh and blood. It is an issue of stunted human development and a case of the future being put in jeopardy.

For over a decade now, the enormous human cost of the crisis has been subsumed in politics.

Sadly, this politics is sometimes played in a manner that smacks of sheer inhumanity and cynicism.

In a way, it speaks volumes for our collective humanity.

When Buhari was first elected in 2015, there were some camps of IDPs mainly in the northeast.

Today more camps have since emerged in other zones of the country.

International conventions based on humaneness demand that the condition of the vulnerable persons in emergencies should be squarely addressed in any crisis. In particular, it should always be remembered that among the displaced are orphans and widows. For years, there have been reports of births in the poor conditions of the camps. Some of the babies born six years ago in camps might end up having a good part of their childhood in the squalid conditions. This is because of the endless climate of insecurity pervading the country.

Specifically, the education and health needs of the children are so obvious in many of the camps that they do not need much advocacy to change the condition. In an environment in which a majority of those who are lucky not be displaced are themselves stuck in the shackles of poverty, the fate of those living in poorly equipped camps could be imagined.

The disruption of school calendar in the northern part of the country due to the activities of bandits and kidnappers is another huge human cost of insecurity. About 800 schools (especially the boarding ones) have been reportedly closed in the northern states. The grave issue is what happens to the future of a generation driven out of schools by bandits. Some of the Chibok girls abducted seven years ago from their secondary school are yet to regain their freedom. Among the students abducted six years ago from a

secondary in Dapchi, Borno state, a girl, Leah Sharibu, is the only one still captivity. She turned 18 last week. Some of the university students abducted this year in Kaduna have been killed.

The immense moral cost on the psychology of the kidnapped students and their families is similarly not subject to easy calculations.

The safe school idea is yet to crystalise into concrete steps to ensure security especially in boarding schools which appear more vulnerable.

The government has been seeking external help to also tackle the humanitarian crisis; the greater challenge, however, is to arouse a sense of our common humanity within Nigeria itself to the plight of the internally displaced persons and other victims of violent crimes.

Furthermore, there should be no illusion about the issue: it requires well- coordinated responses from the federal and state governments as well as philanthropic organisations for the burgeoning humanitarian crisis to be be definitively solved.

In the northeast, for instance, it will take the end of the insurgency for those who are displaced to return home. Clearly defined moral and material components are required for the rebuilding the zone ravaged by the Boko Haram war. Even after 12 years, indications are that it may take some time more to bridge the humanitarian deficits even with the efforts of the North East Development Commission. And a lot of accountability and transparency would be required in the operations of the commission.

The internally displaced victims of the crisis should be accorded the most humane treatment as expected in a civilised society. So, attention should be paid to the operations of those are working to provide relief to the IDPs. The military authorities and security agencies should ensure the access of aid workers to those in need of succour. The corollary to this is that the environment of the aid workers in all parts of Nigeria should also be secure.

In sum, the government should pay a greater attention to the human and moral costs of insecurity.

The Pandemic and our Collective Humanity Femi Falana The most telling lesson of the coronavirus pandemic is that “no one is safe until everyone is safe.” It is an indisputable proof of our biological connectedness which is even more consequential for life and livelihood than the digital connectivity that is the buzz word of the millennials.

As it happens in any pandemic, the coronavirus does not respect geo-political boundaries; neither is it restricted by socio-economic and cultural divides. The virus infects the poor and the rich alike. It overwhelms developed countries and underdeveloped countries despite the sophistication of the healthcare system of the industrialised countries. Yet humanitarian disasters loom in some parts of the world because this obvious lesson seems to be currently lost on mankind.

The Politics and Economics of Vaccines About this time last year, no fewer than 140 world leaders and experts issued an unprecedented joint statement calling for equity and humaneness in the distribution of the vaccines meant to stop the spread of the coronavirus. It was indeed a battle cry for “people’s vaccines.” The essence of the call was to ensure a global arrangement to guarantee the provision of COVID-19 diagnostics, tests, vaccines and treatments to everyone on earth.

Among the signatories to the statement were President Nana Addo Dankwa Akufo-Addo of Ghana, President Cyril Ramaphosa of South Africa

and Chair of the African Union, the President of the Republic of Senegal, Macky Sall, and the Prime Minister of Pakistan, Imran Khan. Notable economists including Nobel Laureate Joseph Stiglitz and public health experts join the political leaders in signing the statement. Their motivation was obvious: the pandemic is a tragic reminder of our shared humanity which some members of the global elites and establishments seem to have forgotten. They are immersed in their myopic and selfish pursuit of polices defined by unbridled competition instead of cooperation and isolationism rather than multilateralism. The world leaders and experts argued as follows: “It is time for Health Ministers to renew the commitments made at the founding of the World Health Organization, where all states agreed to deliver the ‘the highest attainable standard of health as a fundamental right of every human being.

Now is not the time to allow the interests of the wealthiest corporations and governments to be placed before the universal need to save lives, or to leave this massive and moral task to market forces. Access to vaccines and treatments as global public goods are in the interests of all humanity. We cannot afford for monopolies, crude competition and near-sighted nationalism to stand in the way.”

It is also worth noting that President Ramaphosa in a separate statement added an African note to the clamour for the equitable distribution of

vaccines: “Billions of people today await a vaccine that is our best hope of ending this pandemic. As the countries of Africa, we are resolute that the COVID-19 vaccine must be patent-free, rapidly made and distributed, and free for all. All the science must be shared between governments.

Nobody should be pushed to the back of the vaccine queue because of where they live or what they earn.”

Since the May 14, 2020 statement, the epicentre of the coronavirus pandemic has shifted from China to Europe, the Americas and now back to Asia, in India, where more than 230,000 persons have died. More than 5,000 human beings die daily in India! Watching the grim footages on television today of the havoc being wreaked by coronavirus in places as diverse on the planet as India, Brazil and Turkey you would not believe that that statement was ever made in the sober moment of May 2020 when the whole world was on a virtual lockdown.

The sad story is that of the resurgence of vaccine nationalism with all its perils for our shared humanity. The current battle is not only against coronavirus; it is also a war against vaccine inequality. The trend is a portrayal of the huge deficits in the global consciousness about our collective humanity. Intriguingly, these deficits are not on the part of the poor people who continue to exude immense humanity despite their sordid

conditions. The deficits are noticeable more on the part of the selfish poltical and economic elites who make decisions in the rich countries.

Some countries are stocking vaccines more than their urgent needs while some countries lack vaccines to save the extremely needy sections of their populations. In Nigeria, a country with a population of more 200 million people, only about a million persons have been vaccinated. Meanwhile, it was reported at the weekend that the highly virulent South African variant of coronavirus has been found in Ghana and Togo. The proximity of the variant to Nigeria suggests a greater need for vaccination with the population. This should be treated as a matter of emergency because of the porous borders. Corruption has rendered the surveillance at the airports ineffective.

The story is more pathetic in some African countries such as Malawi, Mozambique and Zimbabwe. Men and women of good conscience should join in the campaign against vaccine inequality because of its destructive implication for mankind. The reputable British News Agency, Reuters, made a review of about a dozen contracts involving major suppliers of vaccines in the United States. The revelations put into serious question the consciousness about our collective humanity.

NOTE: This piece continues in the online edition on www.thisdayliive.com

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