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Zenith Bank, AfCFTA Sign Agreement to Develop SMARTAfCFTA Portal Nume Ekeghe Zenith Bank Plc has signed a Memorandum of Understanding

(MoU) with the African Continental Free Trade Area (AfCFTA) Secretariat for the development of the SMARTAfCFTA Portal, for trade

promotion within the African continent.

The SMARTAfCFTA Portal which has the capacity to provide

information like trade indicators, market trends, custom tariffs, trade agreements, rules of origin, market access requirements of relevant

jurisdictions, export potentials, export diversification indicators and contact details of business partners in target markets and

other trade-related information about Africa, would help to unlock Continued on page 10

Lawan, Yari, Tambuwal, Oshiomhole, Musa, Others Emerge Senate Committee Chairmen... Page 35 Wednesday 09 August, 2023 Vol 28. No 10346. Price: N250

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Tinubu Mourns as Tributes Pour in for Pastor Taiwo Odukoya... Page 37

Niger: President Orders Financial Sanctions against Individuals, Entities Says actions not based on religion, ethnicity, insists military option not ruled out ECOWAS leaders meet tomorrow as Niger junta rejects UN, AU, other delegations US diplomat denied access to Bazoum, Tchiani Deji Elumoye, Chuks Okocha, Kingsley Nwezeh, Michael Olugbode, Emmanuel Addeh in

Abuja and John Shiklam in Kaduna President Bola Ahmed Tinubu has

directed the Central Bank of Nigeria (CBN) to initiate a series of financial sanctions against individuals and

entities associated with the leaders of the coup that truncated the democratic government in Niger

Republic. Special Adviser to the President on media and publicity, Ajuri Ngelale, who disclosed this,

yesterday, while speaking with Continued on page 10

TinubuVows to End Nigeria's Overreliance on Borrowing for Public Expenditure Sets 18% tax-to-GDP target by 2026 Nation's revenue generation falls below African standards, says Oyedele Reveals Nigeria loses N20tn annually to tax system gaps Pledges committee"ll get rid of multiple taxation

Story on page 10

OKONJO-IWEALA MEETS TINUBU...

8TH ANNUAL ZENITH BANK INT'L TRADE SEMINAR ON NON-OIL EXPORT...

R-L: Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu and the Secretary-General of the Visiting Director General of the World Trade Organization (WTO ), Dr. Ngozi Okonjo-Iweala (l) with President Bola AfCFTA Secretariat, His Excellency Wamkele Mene during the signing of a Memorandum of Understanding (MoU) Ahmed Tinubu during Okonjo-Iweala's courtesy visit to the President at Presidential Villa, Abuja ….yesterday between Zenith Bank Plc and AfFCTA for the development of a smart portal, at the 8th Annual Edition of the Zenith (See story on page 5) PHOTO: GODWIN OMOIGUI Bank International Trade Seminar on Non-Oil Export held at the Civic Centre, Victoria Island, Lagos... yesterday.

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

NEWS

FOR A NEW TAX REGIME...

L-R: Acting Comptroller General of the Nigeria Custom Service, Adewale Adeniyi; Representative of Tax Club Student Societies of Nigeria, Orire Agbaje; Vice President Kashim Shettima; President Bola Ahmed Tinubu; Chairman, PHOTO: GODWIN OMOIGUI Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele and other members of the Committee shortly after their inauguration at the Presidential Villa , Abuja….yesterday

Okonjo-Iweala Meets Tinubu, Canvasses Policies to Improve Welfare of Nigerians President working on interventions to relieve pains, says Pate Deji Elumoye in Abuja Director General of World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, yesterday, met with President Bola Tinubu, as part of efforts to address the present challenges facing Nigerians.

Okonjo-Iweala also said the government was very much aware of the hardship Nigerians were going through.

Addressing newsmen yesterday, after meeting with Tinubu at State House, Abuja, Okonjo-Iweala, who

said she had audience with the president in her personal capacity, was accompanied by former Minister of State for Health and minister-designate, Dr. Mohammed Pate.

She said the meeting focused on how to help Nigeria alleviate the suffering of the people.

The former Minister of Finance and Coordinating Minister for the Economy said their conversation with the president centred around formulating approaches to stimulate job creation, fostering women's

empowerment, and bolstering digital trade within Nigeria's economy.

Okonjo-Iweala said, "So, this was not really an official WTO mission, but we were able to engage with Mr. President to talk about what are the kinds of programmes that could be put in place to make sure that we had a conversation on trying to look at community and grassroots programmes that can be put in place to create jobs for young people, trying to support women and children who are those who are bearing the brunt of some

of the suffering in the country."

She added that they also talked about investment for the longer term in several sectors in the country, including the pharmaceutical industry.

According to her, "We also talked about the type of support the World Trade Organisation can bring.

"We are already working in Nigeria with women, in particular, who own small and medium enterprises to try to help them upgrade the quality of their products, whether it's in the agricultural area, textiles,

Subsidy Removal: NLC, TUC Meet Senate Leadership, Knock Gbajabiamila's Panel Sunday Aborisade in Abuja The organised labour has expressed doubts over the ability of the Femi Gbajabiamila-led panel to handle the task of negotiating with workers and design measures that would cushion the impact of the removal of petrol subsidy on the citizen following the sudden removal of fuel subsidy.

The National President of the Nigeria Labour Congress, Joe Ajaero, expressed the doubts when he led the leadership of the organised labour unions in the country to visit the Senate leadership.

He told the President of the Senate, Senator Godswill Akpabio that the Gbajabiamila-led panel that was assigned the task by President Bola Tinubu, had not met with the organised labour, two months after the removal of fuel subsidy in Nigeria.

He said, "Part of our challenge is the issue of the committee put in place. The Committee seem not to be capable. As a labour union, we have had series of negotiations to resolve industrial disputes with government officials in the past.

"At no time had the Chief of Staff to the President who is always very busy called to negotiate or lead negotiations.

"The current development has delayed the issues. Since our protest, another meeting has not been reconvened.

"Although the President promised that he will restructure the mechanism of engagement with government to help things to be treated fast, we have not seen any improvement.

"We had agreed on wage award and up till this moment the committee on wage award is yet to sit."

The NLC President lamented the plight of Nigerians as a result of the removal of fuel subsidy without putting anything on ground to ameliorate the effect in the country.

He told the senators that while Labour leaders were still deliberating on N537 per liter of fuel and the court had ruled for status quo to remain, surprisingly the government decided to increase the fuel to N620 per litre.

The NLC president said that Congress had no information about the $800 million World Bank loan meant to cushion the effect of the subsidy removal.

He nevertheless, urged the federal government not to use the record that was used in the past by the previous administration to disburse the funds.

Ajaero said, "Nothing is yet to happen on the issue of $800 million projected to be borrowed; we have not perfected the list of the people who will benefit from it.

"We should not follow the record that was used in 2019 because we have our doubts about that record.

No indices have been put forward to dictate those that are termed poor."

The President of the Senate appreciated the organised Labour for the patience and understanding to assist government come up with strategies to cushion the effects of fuel subsidy removal.

He said, "Although the president has saved N1trillion as a result of fuel subsidy removal, this government inherited a broke country with debt of over N30 trillion.”

Akpabio, however, assured the aggrieved Labour union members

that the Executive was working hard to ameliorate the suffering of Nigerians.

He assured the organised labour of the readiness of the Senate to partner with the labour unions to proffer lasting solution to the perennial trade disputes in the country.

He said the National Assembly would enact laws that would bring back smiles on the faces of the workers and Nigerians. Both parties thereafter went into closed session after the formal opening ceremony.

and in other areas so that they can sell more internationally.

"We're trying to help them with digital trade. The wave of the future is digital trade. So, how do we train and empower Nigerian women and small and medium enterprises throughout the country, create more jobs?

"That's what's needed now in Nigeria to alleviate these difficult conditions that they are in. So, that is what we discussed with Mr. President and as the Director General of the World Trade Organisation, we're going to try to do the most we can to support Nigerians at this particular time."

Pate, a former Chief Executive Officer of GAVI, the global vaccine alliance, corroborated the remarks of Okonjo-Iweala, and added that Tinubu was actively working to ameliorate the suffering of Nigerians.

He assured that the difficulty was transitory, noting that the president is committed to all intervention measures.

Pate stated, "I think I'll just reaffirm that Mr. President is fully aware of the difficulties that people are facing, and committed and I think doing all that he can and with his team try to ensure that those sufferings are alleviated.

"That was the main thrust of the conversation that we had in terms of targeting those who are most vulnerable, women, children, youth,

attracting investment opportunities that can grow the economy so that people will get some succour because the difficulties that we're facing is transitory.

"I think with the vision of the president there's reason to be very hopeful that we'll navigate through this difficult times and have a Nigeria that sees us stronger, united and conspired to the greatness that is in our future.”

Pate also spoke on plans to promote grassroots programmes to support women and youth as well as prioritising health, particularly, health insurance, primary health care and hospital care.

According to him, "Mr. President also discussed with us some of the vision on health that he has and I think is great to see that health is one area where it connects everyone.

"Health affects everyone from the policy side, regulatory side, pharmaceuticals and quality of pharmaceuticals, the financing side, in terms of financial protection, health insurance, and all those elements, primary health care in every nook and cranny of this country, folks have ailments like malaria, vaccinations, treatment of basic diseases with primary healthcare system, as well as hospital care, which is very important.

“Because sometimes you have primary health care at the front ends you also have higher levels, care that is offered to tertiary facilities."

MDXi, AMS-IX Move to Drive Content Growth in West Africa Emma Okonji

The Amsterdam Internet Exchange (AMS-IX) and the MDXi, an Equinix company, have collaborated to drive content growth in West Africa, through the newly established Internet Exchange, AMS-IX Lagos, aimed at expanding customers’ access to connectivity.

They announced the collaboration at a recent webinar hosted by both AMS-IX and MDXi. The keynote speaker and Vice President, Business Development Manager, AMS-IX, Wouter Ensing, emphasised the importance of establishing a robust connectivity framework to unlock content

growth, aggregate demand, and provide wide-reaching access to consumers.

Ensing, acknowledged that while some content providers have already deployed locally in West Africa, particularly in Nigeria, the significant lack of content within the region results in cost inefficiencies, unnecessary latency, and negative impacts on user experience.

To address this challenge, AMSIX has partnered with MDXi, an Equinix company, to leverage its rich interconnected ecosystem across the entirety of West Africa to advance the region’s connectivity landscape. AMS-IX Lagos has been developed as a regional hub to

attract content for access within the region. By creating a network that offers scale to interconnect carriers, internet exchanges, and data centers, AMS-IX Lagos aims to foster growth and advance the region’s connectivity.

Industry experts such as Founder, Tizeti Networks, Kendall Ananyi, and Director, Network Strategy and Interconnection at Edgio, Ben Nicklin, also shared their experiences at a panel session moderated by the Head, Technical Solutions at MainOne, Oluwasayo Oshadami.

To underscore the benefits of the internet exchange, Ananyi stated that his company had accessed more content by peering on AMS-IX

Lagos than on IP transit links as the IX has reduced the cost of traffic required to access content that is locally available.

Nicklin, stated that the company enjoyed improved performance by peering at the Internet Exchange.

He highlighted the opportunity to serve other West African countries via peering from Lagos and hoped the AMS-IX Lagos platform would bridge this gap by connecting more networks across the region.

By addressing infrastructure challenges through the collaboration, the region can foster a thriving digital ecosystem and empower its vibrant youth population, Ananyi said.

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NEWS

ACCESS BANK'S COURTESY VISIT TO IMMIGRATION SERVICE...

L- R: Group Head, Marketing and Communications, Access Bank Plc, Toyin Henry- Ajayi; Head, Human Resource Management, Nigeria Immigration Service, ACG. Usman Babangida; Deputy Managing Director, Access Bank, Victor Etuokwu; Ag Comptroller-General, Immigration Service; Adaeze Okonkwo; Head, Travel and Protocol, Access Bank, Caroline Wura-Ola Adepoju; Head, Procurement, NIS, ACG. Aliyu Auna, and Group Head, Global Trade Services, Access Bank, Chizoba Okafor, during a courtesy visit of Access Bank’s team to the NIS office in Commemoration of the Nigerian Immigration Service 60th Anniversary Ceremony held at the NIS Headquarters in Abuja …. Yesterday

Shettima: Why Nigerian Engineers Should Handle 90% of In-country Jobs COREN seeks exemption from FG’s non-funding policy Emmanuel Addeh in Abuja Nigeria’s Vice President, Kashim Shettima, yesterday argued in favour of local engineers, insisting that they should begin to handle at least 90 per cent of jobs within the country.

Speaking at the 31st Assembly of the Council for the Regulation of Engineering in Nigeria (COREN), in Abuja, the vice president maintained that this was already the situation in Borno, where over 90 per cent of contracts are executed by Nigerian engineers.

Shettima, who was represented by the Governor of Borno State, Babagana Zulum, was the guest of honour at the programme themed: "Entrenching and Strengthening Engineering Practitioners’ Code of Conduct for Resilient Engineering Practice in Nigeria."

Highlighting the need to incorporate local content as Nigeria aspires to ramp up its infrastructure base, Shettima explained that he was confident that the country has the human resource to get the job done.

The vice president urged practitioners to adhere to the engineering code of conduct and hold on to ethical principles as their successes or failings will reverberate across generations.

"In Borno State, my engineers handle over 90 per cent of projects. I think this is something that we need to do. Engineering practitioners are the problem solvers who turn challenges into opportunities, from the construction of vital infrastructure and the development of technology.

“ In recent times, we have face unprecedented challenges and opportunities and the role of engineering practitioners has become even more critical. It is in this context that the discussion of strengthening the engineering practitioners code of conduct has assumed paramount importance,” he stated.

While advising the regulatory body on self-sustenance, Shettima said that there should be enough political will to drive the very important process for the growth and development of the country.

In his remarks, the President of COREN, Prof Sadiq Abubakar, recalled the recent federal government’s policy of non-funding of professional and regulatory bodies in Nigeria, effective January 2024.

He stated that while the council is presently studying the government’s directive, it should be noted that COREN is not a professional association but a regulatory agency rendering government function of protecting the general public.

“Let me also stress the fact that the need for engineering regulation is driven by the wish to protect people and society at large from the danger associated with engineering failure.

COREN was therefore inaugurated to ensure the highest standards of professionalism in engineering practice in Nigeria and the elimination of quarks.

“The council avoids unnecessary competition among practitioners and prevent them from taking advantage of the people by ways that are illegal

or through unfair deals.

“Since quality engineering practice is germane to the country’s quest for development and for the avoidance of the risk associated with engineering failure occurrences, the attendant loss of lives and economy waste, the council wishes to state loudly that it should be exempted from the federal government no-funding directive. As this is the situation in other climes, including developed countries,” he said.

He added that the council has set up task force to review COREN operations, budgets and finances and to develop strategies to be more prudent, transparent, accountable and minimise leakages.

Chairman of the occasion and Managing Director of Wema Bank, Moruf Oseni, in his comments, stated that Nigeria was in dire need of world class engineering firms and resources, noting that Nigeria would need about $2.3 trillion to bridge its

Abia State Governor, Mr. Alex Otti, has taken a firm step to tackle the security challenge in the state headlong by launching an interagency response codenamed "Operation Crush."

The security operation, which involves all the security agencies in the state was set in motion yesterday, in Umuahia, at an event attended by all the security chiefs, traditional rulers and other stakeholders.

Otti also inaugurated 20 Toyota patrol vans equipped with communication gadgets to ease the operations of the security agencies.

The vehicles were distributed to the security formations in the state, including the Police, Army, Navy, DSS and the Nigerian Security and Civil Defence Corps(NSCDC), with

the police receiving the lion share.

In his address, the state governor said Operation Crush was a wellplanned, coordinated response to root out every form of criminality in the state.

He explained that the security operation was his practical demonstration of his avowed resolve to make Abia secure and peaceful for residents to live their normal lives and go about their businesses.

He added: "This special operation is technically set up to swiftly identify, analyse and respond to security threats from and within any part of the state.

"As the codename indicates, the goal is to counter with necessary force, any incidence of kidnapping, armed robbery and other forms of violent crimes anywhere in the state."

drive development,” he stated.

Also, COREN Registrar, Prof.

Adisa Bello, said that attendance at the assembly was mandatory for all categories of engineering practitioners as non-attendance will affect the mandatory Continuing Professional Development points required for the issuance of annual practicing licence.

Some others who spoke on the occasion included the Board Chairman of the Engineering Council of Ghana, Senator Iyiola Omisore, among others.

FG Unveils N144.8bn Investment Plan to Finance Safe Schools Earmarks N15bn for 2023 Ndubuisi Francis in Abuja The federal government yesterday unveiled a N144.8 billion comprehensive investment plan to fund safe schools in the country.

The Safe Schools Initiative (SSI) was launched in 2014, in the aftermath of the abduction of 276 schoolgirls in Chibok, Borno State.

The first component of SSI, a nationwide intervention programme designed to make the school environment safe for children and their teachers was activated that year with the transfer of 2,400 students from Yobe, Borno and Adamawa States

to about 42 unity schools across the country, on full scholarships.

Unveiling the National Plan to finance the programme which suffered several flip-flops with attacks and kidnapping of students in many schools across the north during the previous administration of President Muhammadu Buhari, the National Coordinator, Financing Safe Schools Programme, Halima lliya lbrahim, disclosed that it would be implemented between 2023 and 2026.

According to the plan, the sum of N32.58 billion would be injected to finance safe schools in 2023, N36.98 billion in 2024, N37.15 billion in 2025,

Otti Moves to Tackle Insecurity, Launches 'Operation Crush' Emmanuel Ugwu-Nwogo in Umuahia

infrastructure deficit.

Represented by the Deputy MD, Wole Akinleye, he noted that for effectiveness, COREN's role must be guided by a robust code of conduct that serves as a moral compass to guide every decision.

“By some estimates, Nigeria has an infrastructure deficit of $2.3 trillion.

Covering that gap will require political will, fiscal discipline and more importantly, human resources - because without people, it is impossible to

He specifically charged the security agencies not to spare any criminal, saying they should, "be brave and ruthless with these criminals" and "do whatever it takes" to put the undesirable elements out of business.

The Abia chief executive sent a strong message to all criminal elements, giving them two options, "either to leave this state or be crushed by superior force."

Otti also charged security agencies to treat those that collaborate with criminals with same measure, including informants and those that harbour criminals and offer them shelter.

He warned that anybody found wanting in aiding and abetting crime, irrespective of status, would not be spared, including traditional rulers, community leaders.

"Today, we say never again. We shall no longer share one inch of our state with criminals," Otti vowed.

Otti lamented the havoc criminals had wreaked in Abia with the attendant loss of lives and destruction of properties.

He recounted the series of criminal activities witnessed in the state since he came to power, including the recent attack on one of his commissioners, adding, "I consider the attack on a senior official of this government as a direct assault on the powers of this government".

Otti, therefore asked security agencies to take the battle to flash points within Umunneochi and Isuikwuato local governments and deal ruthlessly with the hoodlums that terrorise people in those areas.

and N38.03 billion in 2026.

Ibrahim, disclosed that the government made a N15 billion commitment towards the programme for 2023.

The National Coordinator noted that the project funding was a collective commitment of participating stakeholders achieved through annual budgetary provisions from federal, state and local governments.

Others are government interventionist agencies, foreign governments and multilateral institutions, businesses and philanthropic donor patners, among others.

She said: "Looking at the implementation strategy, the plan aims to cover 50 per cent of the most at risk public schools over the medium term 2023-2026.The plan will focus on achieving the following milestones: building and integrating security resilient host communities in the protection of education, strengthening the detection, deterrence, and response capabilities of the security agencies, equipping school security, response and coordination centres in Abuja and States respectively."

Ibrahim further stated that regular engagements and policy advocacy with the Nigerian public and key government officials on the implementation of the national plan commenced in January 2023, with the flag-off of the National School Security and Coordination Centre by the Nigerian Security and Civil Defence Corp being the Lead agency for the protection of schools and government critical assets.

Nigerian public schools came under severe security attacks in 2014, from

members of Islamic fundamentalist group, Boko Haram. The country experienced her first major attacks on FGC Buni Yadi in Yobe State and in April same year, there was another attack on Government Girls Secondary School Chibok in Borno State where 276 girls were kidnapped.

To tame insecurity threats across schools, the federal government launched the Safe Schools Initiative, designed to enable children affected by conflict and insecurity to continue with their education unhindered.

On December 31, 2019, former President Muhammadu Buhari formally signed "the Safe Schools Declaration Ratification Documents" which has been endorsed by 118 countries signaling Nigeria's commitment to implementation.

This was followed by a High-Level Forum in April 2021, convened by the immediate past Minister for Finance, Budget and National Planning Mrs. Zainab Ahmed, in partnership with Emergency Coordination Center (ECC) on Financing Safe Schools in Nigeria, to chart a way forward in addressing attacks on education.

Between October 25 and 27, 2021, Nigeria hosted the Fourth International Conference on the Safe Schools Declaration in Abuja, which was aimed at galvanising the needed support for the Declaration and to review progress in achieving the various commitments to protect schools and children from further attacks.

During the engagements and many others, issues of financing safe schools were reccurring for stakeholders.

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FAMILIARISATION VISIT TO ENUGU GOVT HOUSE...

Governor of Enugu State, Dr. Peter Mbah (left) receives a souvenir from the GOC, 82 Division, Nigerian Army, Enugu, Major General Hassan Dada (right), during a familiarisation visit by the GOC to the Governor at the Government House, Enugu... yesterday

Airlines Spend Longer Flight Time across Africa with Closure of Niger’s Airspace British Airways flights on Southern Africa destinations disrupted Closure of Niger, Sudan, Libya airspace at huge cost to airlines Chinedu Eze Flights to African Destinations and across the continent now take longer time as Niger Republic closed its airspace.

According to flight tracking service provider, FlightRadar24, the closure of Niger’s airspace dramatically widens the area over which most commercial flights between Europe and southern Africa cannot fly, demanding that flights must take a detour of sorts around Libya and Sudan.

With the closure of Niger’s airspace, airlines flying between Europe and southern Africa would need to reroute and add 1000 or more extra kilometers to their flights, increasing

the amount of fuel each flight would need and the flight time.

This has led to more costs for airlines because they spend more money on fuel and other logistics and airlines may pay more insurance premium on potential risks.

Industry observers said the closure of Niger’s airspace dramatically widened the area over which most commercial flights between Europe and southern Africa cannot fly.

Reports indicated that on Sunday evening, August 6, when Nigeria closed its airspace, British Airways flight BA56 was scheduled to fly from Johannesburg (JNB) to London (LHR). The flight was operated by an eight-year-old Airbus A380 with

the registration code G-XLEI. The flight was scheduled to depart at 7:20PM local time, and took off at 7:44PM. But it was gathered that for nearly five hours, the aircraft flew to the north, flying over South Africa, Botswana, Zimbabwe, Zambia, DRC, the Central African Republic, and Chad and then the airline had a problem.

At that point the decision was made to return to Johannesburg and just as it took around five hours to get close to the border of Niger, it took another five hours to return to Johannesburg. The plane ended up landing there at 6:27AM, nearly 11 hours after it had departed.

That’s the same amount of time

it ordinarily takes to fly from Johannesburg to London.

There are also fears that Mali may close its airspace and the situation would be worse for international carriers.

Experts averred that the fear of airspace closure by Mali may become apparent if there was any indication that Niger might be attacked.

THISDAY learnt that flights to Nigeria from Europe, the United States now take longer hours. But the National Association of Nigeria Travel Agencies (NANTA) said it has no impact in the cost of flight ticket yet.

After a military coup that ousted President Mohamed Bazoum, the

Association Demands Release of 48 Miners Allegedly Arrested By Taraba Government Kasim Sumaina in Abuja The Miners Association of Nigeria (MAN), yesterday, called on the Taraba state government to immediately free detained 48 miners allegedly jailed over what it termed illegal mining activities in the state Its President, Dele Ayanleke, while addressing a press conference in Abuja, said among the so-called illegal miners now in jail in the State, were seven members of staff of a company with valid Mining Lease, whose operational site was invaded by operatives of the Task Force.

He said the trend of development was not unconnected with the recent administrative transition in most states of the federation, which necessitated changes in the seats of governance.

Ayanleke said: “While we appreciate the ambitions of the new leaderships in our various states to accelerate socio-economic development, leveraging on the nature’s endowments within their domains, it is of no less importance to pursue these ambitions within all extant constitutional and legal frameworks in order not to breed anarchy and constitutional crisis that may render

their efforts and those of the national government unproductive.

“Not quite long after the swearing-in of the new governors that the mining industry started witnessing an avalanche of Executive Orders, banning mining activities in some states like Ebonyi, Osun, Enugu, Cross River, Taraba and others.”

Ayanleke lamented that Taraba government went as far as setting up a Task Force on illegal mining and deforestation with full authority to arrest, summarily prosecute and sentence anyone found culpable under its own laws.

He said the association in its resolve to ensure a sanitised mining environment collaborated with the Ministry of Mines and Steel Development and its agencies over the years, in the overall interest of the national economy.

Ayanleke noted: “We are, however, of the belief and conviction, that the issue of illegality in the system must be appraised and confronted in the whole.

“A situation where a group of stakeholders is being stigmatised as the perpetrators of illegality by the holders of coercive machinery

of state, is totally unacceptable.

“Section 44(3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and section 1(1) of the Nigeria Minerals and Mining Act (NMMA), 2007, place

the ownership of mineral resources and mining regulations in Exclusive Legislative List with enough provisions to address the socioeconomic and environmental concerns of the lower tiers of government.”

ruling junta in the West African country, led by General Abdourahmane Tchiani, closed Niger's airspace to overflying aircraft. The closure took effect on Sunday evening, when several flights were already airborne.

Meanwhile, THISDAY learnt that insurers have already adjusted their premium for aircraft in response to the development and this might spike insurance premium for airlines that operate to African destinations and across Africa airspace.

Reacting to the close of airspace by the Nigerien military junta, the Chairman of Stanbic IBTC, Atedo Peterside, wrote on his Twitter handle: "Burkina Faso and/or Mali join Niger in declining overflight rights to Nigerian bound aircraft, then inbound and outbound flights from Nigeria to Europe will become very expensive."

This confirmed the fears that the closure of Niger Republic's airspace would increase the cost of flights from Nigeria to Europe which has already doubled after foreign airlines blocked the lower inventory of tickets due to their inability to repatriate revenues from Nigeria.

Currently, economy tickets for most airlines from Nigeria sell at over N1 million for about six hours flight, while business class tickets

sell from over N3 million for the similar hours of flights.

But the President of NANTA, Susan Akporiaye, said prices have remained the same but that it may change as a result of the crisis in Niger.

"We have not had any spike in prices of international flight tickets at the moment, the only issue we have had and are still having is the spike in cost of flights due to the trapped funds; a serious problem which we have talked about several times and which we have made efforts to solve,” he added.

Meanwhile, Air France it has suspended flights to and from Ouagadougou in Burkina Faso and Bamako in Mali until August 11, after Niger’s junta closed its airspace.

Sudan’s current ban on flights went into effect in late July, but the airspace has been effectively closed since mid-April 2023, when two factions of the country’s military government escalated to armed conflict.

Multiple European countries, including Germany, France, and the UK, as well as the US and Canada, prohibit their civil aircraft from operating in Libyan airspace, which is Tripoli Flight Information Region (FIR).

CSOs Seek More Appointment of FCT Indigenes in Govt Emameh Gabriel in Abuja As the world commemorates the 2023 United Nations International Day of World Indigenous Peoples, a coalition of civil society organisations have called for more inclusiveness of the FCT indigenes in governance of Nigeria.

This was just as they lauded President Bola Ahmed Tinubu, for appointing an FCT Aborigine as minister, first time in the Fourth republic.

The president recently nominated an FCT Aborigine, Hon Zephaniah Jisalo, as a minister.

In a text of a press conference which took place in Abuja, yesterday, which was read on behalf of the coalition by the Executive Director of Resource Centre for Human Rights

& Civic Education (CHRICED), Dr. Ibrahim Zikirullahi, the group commended Tinubu for giving the FCT aborigines cause to smile with the ministerial appointment.

"We thank President Ahmed Bola Tinubu for listening to the aspirations of OIs, but we encourage him to go a step further and appoint Hon. Jisalo as FCT Minister to preside over the affairs of his people.

“This will reduce the feeling of alienation by the original inhabitants whose right to elect a governor and state house of assembly has been denied over the years.

"Last month, from July 15 to July 21, 2023, CHRICED led a 12-member delegation of Abuja Original Inhabitants to address the United Nations' 16th session of the Expert Mechanism on the Rights of Indigenous Peoples

(EMRIP) in Geneva, Switzerland, on the plight of OIs who face political marginalisation, landlessness, statelessness, economic emasculation and the threat of cultural extinction.

"The delegation therefore sought the United Nations' commitments to protect the rights of OIs. The nomination of Jissalo coming at the heel of that journey, is commendable, and it represents a bold first step towards addressing the decadeslong injustices, marginalisation, and exclusion of the Original Inhabitants whose ancestral homelands were taken over via Military Decree 6 of 1976 to make way for Nigeria's capital.

“What this means is that the long-suffering indigenous peoples in the FCT will now have a voice in the Federal Executive Council (FEC)."

The group affirmed that it was within the constitutional right of FCT indigenous Peoples to demand for their rights.

According to the text, "One of the most critical issues to reflect on in the context of promoting and protecting the rights of indigenous peoples is the principle of self-determination.

“This principle is well enunciated and recognized as a fundamental right in major human rights instruments, including the United Nations Charter.

"Similarly, the United Nations Declaration on the Rights of Indigenous Peoples (UN Declaration) states that Indigenous Peoples have the right to self-determination (Article. 3) and in exercising this right, they have the right to freely pursue their economic, social and cultural development.

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Presidency Directs Council to Develop Flood Management Strategy, Resuscitation of Shrinking Lake Chad Fuel subsidy removal saves 42,800 tons of carbon dioxide emissions daily, says VP Michael Olugbode in Abuja The Presidency has directed the National Council on Climate Change to immediately develop a Comprehensive Climate Change Adaptation Project for Flood Management in Nigeria and also find a way to resuscitate the shrinking Lake Chad.

This was even as the Vice President, Senator Kashim Shettima, revealed that the removal of oil subsidy has led to 30 per cent reduction in daily fuel consumption, amounting to about 20 million litres, which he said was equivalent to an

estimated daily saving of 42,800 tons of carbon dioxide (CO2e) emissions.

Speaking at a one-day workshop on unpacking the outcome of 58th Sessions of the Subsidiary Bodies of the United Nations Framework Convention on Climate Change, Shettima lamented that climate change was perhaps the biggest challenge facing humanity today.

He noted that even as a developing nation in the global south, Nigeria was gravely impacted by the negative effects of climate change.

The vice president who was represented by the Deputy Chief

of Staff, Senator Ibrahim Hassan, said: “For instance, Nigeria is ranked as one of the ten most vulnerable countries to the impacts of climate change in the world. This is despite our negligible contribution to overall global carbon emissions responsible for climate change.

“In fact, Africa as a whole, accounts for less than four per cent of total global carbon emissions. For me and a lot of the people that come from the North Eastern part of Nigeria, we bear the scars of climate change effects and have had to live with its impacts, such as drought and

desertification, disruption of rainfall patterns, leading to sandstorms, severe floods, destruction of farmlands, infrastructure and human settlements.

These and many more occur in other parts of the country too.”

He added that: “We are all living witnesses to ravaging floods of last year (2022) which held the country to a standstill for days. The World Bank’s Global Rapid post-disaster Damage Estimation (GRADE) assessment put the total direct economic damage to infrastructure be about $7 billion.

“This is equivalent to 1.6 per cent of Nigeria’s estimated 2021 (GDP),

not including loss of over 600 lives.

For Nigeria, that was climate change at its worst.

“Consequently, and in order to avert future occurrences of such severe floods, the National Council on Climate Change is hereby directed to develop a Comprehensive Climate Change Adaptation Project for Flood Management in Nigeria. The Project should include resuscitation of the Lake Chad Basin.”

The vice president said: “The plan for decarbonising our energy systems highlights the key role that natural gas will play in transitioning our

economy across sectors. The data and evidence show that Nigeria can continue to use gas until 2040 without detracting from the goals of the Paris agreement.

“Nevertheless, we are rapidly advancing the development and deployment of renewables through various programs such as the $550million Nigeria Electrification Project (NEP) supported by the World Bank which is promoting the use of solar mini-grid and solar home systems across Nigeria.

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TINUBU VOWS TO END NIGERIA'S OVERRELIANCE ON BORROWING FOR PUBLIC EXPENDITURE Deji Elumoye in Abuja President Bola Tinubu has pledged his readiness to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited revenues.

Tinubu spoke yesterday at State House, Abuja, while inaugurating the Presidential Committee on Fiscal Policy and Tax Reforms. He mandated the committee to improve

the country’s revenue profile and business environment, as the federal government moved to achieve 18% tax-to-Gross Domestic Product (GDP) ratio target within three years.

Tinubu directed the committee headed by renowned tax expert, Mr. Taiwo Oyedele, to do all within its powers to achieve its one-year mandate, which was divided into three main areas: fiscal governance, tax reforms, and growth facilitation.

He also directed all government ministries and departments to cooper-

ate fully with the committee towards achieving its mandate.

The president told the committee members the significance of their assignment, saying his administration carries the burden of expectations from citizens who want their government to make their lives better.

According to him, ''We cannot blame the people for expecting much from us. To whom much is given, much is expected.

“It is even more so when we campaigned on a promise of a better

country anchored on our Renewed Hope Agenda. I have committed myself to use every minute I spend in this office to work to improve the quality of life of our people."

Acknowledging Nigeria's current poor standing in the tax sector, Tinubu said the country still faced challenges in areas, such as ease of tax payment and Tax-to-GDP ratio, which lagged behind Africa's continental average.

He stated, "Our aim is to transform the tax system to support sustainable development while achieving

NIGER: PRESIDENT ORDERS FINANCIAL SANCTIONS AGAINST INDIVIDUALS, ENTITIES newsmen at State House, Abuja, did not give details of the sanctions.

However, Ngelale maintained that the sanctions were being instituted under the authority of the Economic Community of West African States (ECOWAS).

The federal government also clarified that the sanctions were without ethnic or religious biases, but insisted that the option of military intervention was still on the table as far as the Niger situation was concerned.

ECOWAS leaders would meet tomorrow in Abuja to deliberate on the failure of the Niger junta to heed the ultimatum by the regional bloc to relinquish power.

However, yesterday, the military leadership in Niger rejected diplomatic delegations from the United Nations (UN), African Union (AU), and ECOWAS, who sought to initiate diplomatic solutions to the coup crisis in that country.

The coup leader, General Abdourahamane Tchiani, also refused to meet U.S. diplomats or free the deposed Bazoum, who was in detention.

Nonetheless, the junta appointed a former economic minister, Ali Mahaman Lamine Zeine, as Niger’s Prime Minister.

Meanwhile, Arewa Consultative Forum (ACF) said dialogue remained the best option in resolving the political crisis in Niger Republic.

Similarly, former Deputy National Chairman of Peoples Democratic Party (PDP), Chief Olabode George, said Tinubu and ECOWAS still had enough time to dialogue with the Niger coup leaders.

The latest move by the federal government against the authorities in Niger was in addition to the cutting of electricity transmission to that country

by Nigeria, to put pressurise on the junta to reinstate Bazoum.

Ngelale stated, "The news is that Mr. President has directed the acting CBN governor to levy another slew of sanctions against entities and individuals associated with the military junta in Niger Republic.

"I said that intentionally. I didn't make a mistake, because I was given permission to make that statement and I emphasise that this is not an individual action taken by an individual president on behalf of individual nation.

"This is an action taken. Yes, by ECOWAS chairman, who is the president of Nigeria but standing on the authority provided by the consensus resolution of all ECOWAS members and heads of state with regard to financial sanctions being levied by ECOWAS member states against the military junta in Niger Republic.

"There is an authority that we are standing on. It is not Nigerian

government authority, it is the authority of the resolution passed in public before now."

The media adviser explained, "Concerning the ultimatum given to the military junta in Niger Republic, the ECOWAS mandate, and ultimatum is not a Nigerian ultimatum. It is not a Nigerian mandate.

"And the office of His Excellency, President Bola Ahmed Tinubu, also serving as Chairman of ECOWAS, seeks to emphasise this point, due to certain domestic and international media coverage, tending toward a personalisation of the ECOWAS subregional position to his person and to our nation individually.

"It is because of this that Mr. President has deemed it necessary to state unequivocally that the mandate and ultimatum issued by ECOWAS are that of ECOWAS. "While His Excellency, President Bola Ahmed Tinubu, has assumed the ECOWAS chairmanship, the position of ECOWAS conveys the consensus position of member heads of state. And a coup will not occur in one's backyard, without one being particularly aware of it.

"The president in recent days, particularly following the expiration of the ultimatum given by ECOWAS, has widened consultations internationally but most especially domestically, including interfaces with governors in Nigeria, who govern states bordering Niger Republic on the various fallouts and outcomes of the unfortunate situation that has unfolded in Niger Republic.

"But President Bola Ahmed Tinubu wishes to emphasise to this distinguished audience that the response of ECOWAS to the military coup in Niger has been and will remain devoid of ethnic and religious sentiments and considerations.

"The regional bloc is made up of all sub-regional ethnic groups, religious groups, and all other forms of human diversity. And the response of ECOWAS, therefore, represents all of these groups, and not any of these groups individually."

According to him, Thursday's extraordinary summit of ECOWAS in Abuja would come up with far-reaching decisions on the recent developments in Niger Republic.

Stressing that the assumption that ECOWAS was weak because it had not invaded Niger Republic until now was untrue, Ngelale stated that Nigeria and, indeed, the regional organisation would follow through its protocols to ensure that democracy was restored in Niger.

“We are determined to leverage on all elements of our power regionally to ensure that (Bazoum’s restoration) happens and that is not limited only to military intervention, although military intervention has not and

will not be taken off the table.

“Let us be clear, there has been a firm ultimatum that was based on a mandate that has been backed by ECOWAS protocols, which have been in place for years. And the ECOWAS heads of state will not back down from their duty of upholding the protocols as agreed by all member states.”

ECOWAS Leaders Meet Tomorrow, Junta Turns Down Diplomatic Delegations

Member states of ECOWAS are scheduled to meet in Abuja tomorrow to deliberate on the failure of the Niger junta to heed the ultimatum by the regional bloc to relinquish power.

The military leadership rejected diplomatic delegations from the United Nations (UN), the African Union (AU) and the West African regional bloc, who tried to seek diplomatic solution to the coup crisis in that country But the military government appointed a former economic minister, Ali Mahaman Lamine Zeine, as the country’s prime minister.

The regional bloc will meet on Thursday to discuss how to proceed after the ultimatum given the Niger military adventurers expired over the weekend.

THISDAY gathered that member states were expected to weigh rising opposition to military intervention in view of the groundswell of support

by Nigerians, the support for the junta by the military leaderships in Mali and Burkina Faso, and the rejection of the request for military

intervention by Nigeria's Senate as well as the deep-seated ethnic relations between Nigerians and Nigeriens in the contiguous states of Sokoto, Katsina, Jigawa, Kano and Kebbi.

The request by the Niger military government for the involvement of the Wagner group and by implication, Russia, will also be considered, especially with Niger Republic known as a hub for arms smuggling, factors that might complicate military intervention in addition to calls by civil society organisations for ECOWAS to exhaust the diplomatic option.

But Niger's junta said it could not accept a high-level diplomatic visit from international organisations because there would be a risk to the visitors' security.

Delegates from ECOWAS, AU, and the United Nations were due to fly in yesterday.

But the coup leaders told the delegation that sanctions and the threat of invasion from the bloc had created public anger, stating that their security might not be guaranteed.

Reports from Niger’s capital, Niamey, showed that many people viewed the putsch as a breath of fresh air.

Washington warned there was a danger Russian Wagner mercenaries would take advantage of Niger's coup.

A top U.S. diplomat, Victoria Nuland, said the coup leaders in Niger refused to let her meet with Niger’s deposed president, who is currently under house arrest after he was ousted.

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a minimum of 18% tax-to-GDP ratio within the next three years.

“Without revenue, government cannot provide adequate social services to the people it is entrusted to serve.

“The committee, in the first instance, is expected to deliver a schedule of quick reforms that can be implemented within 30 days.

Critical reform measures should be recommended within six months, and full implementation will take place within one calendar year."

Earlier, Special Adviser to the President on Revenue, Mr Zacchaeus Adedeji, while recalling the president's sterling track record on revenue transformation, described the committee members, drawn from the public and private sectors, as accomplished individuals.

“Mr. President, you have the pedigree when it comes to revenue transformation,” Adedeji said. He added, “You demonstrated this when you were the governor of Lagos State over 20 years ago."

Speaking at the occasion, also, the chairman of the committee, Oyedele, noted that Nigeria’s revenue generation was below the African standard, even though the country’s collection costs were among the highest.

He pledged that members of the committee were committed to giving their best in the interest of the country.

According to Oyedele, "Many of our existing laws are outdated, hence, they require comprehensive updates to achieve full harmonisation to address the multiplicity of taxes, and to remove the burden on the poor and vulnerable, while addressing the concerns of all investors, big and small.

“Our tax administration has improved but remains relatively basic, with instances of unregulated collections by untrained officers, particularly at the local government level, being widespread.

“Our revenue generation falls below even African standards, yet our collection costs are among the highest. This is due not only to multiple taxes but also numerous collection agencies and fragmented revenue reporting procedures.

“Public willingness to pay taxes is strained because of a lack of trust in government, both among individuals and businesses, irrespective of size.

The burden of tax falls heavily on those who comply, while those who evade often get away with little or no consequences. We need to change this.

“The process of resolving tax disputes is protracted and costly, with inadequate mechanisms for many small businesses and vulnerable individuals to seek fair tax resolution, as professional services are often beyond their means.”

Speaking with newsmen after the inauguration of the tax reform committee, Oyedele disclosed that Nigeria lost about N20 trillion annually to gaps existing within its tax system, including evasion and certain inefficiencies in collection modes. He spoke in the company of Adedeji; World Bank Country Director in Nigeria, Shubham Chaudhuri; and President of Manufacturers Association of Nigeria (MAN), Francis Meshioye.

Oyedele lamented that those who evaded tax got away with little or no consequences, stressing that this needs to change.

He said data had shown that Nigerians were willing to pay taxes if they saw what the monies translated to.

Oyedele also disclosed that the task of the committee was to get rid of multiplicity of taxes that had impeded the prosperity of Nigerians, saying this would be achieved by harmonising taxes and providing the country with fewer number of taxes.

He stated that the mandate of the committee “is to get rid of so many taxes that come in the way of prosperity for our people. So Nigerians should look forward to a more harmonised, fewer number of taxes.

“But then it seems like it's a contradiction. How do you then raise the revenue? Now, we know where we're going to get the revenue from – there's a huge tax-gap. What that means is as of today, without introducing any new taxes, if you get everyone that needs to pay their taxes to pay, we will not be where we are. So we think that the gap is somewhere in the region of N20 trillion.

“In addition to that, you would also imagine that we have inefficiencies in the way we collect the little that Continued on page 37

Z E N I T H B A N K , A F C F TA S I G N AG R E E M E N T TO D E V E LO P S M A RTA F C F TA P O RTA L the vast opportunities for trade on the African continent.

The MoU was signed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu and the SecretaryGeneral of the AfCFTA Secretariat, Wamkele Mene, during the 8th Annual Edition of the Zenith Bank International Trade Seminar on Non-Oil Export themed "Nigerian Non-Oil Export Industry: The Present, The Future," held yesterday, at the Civic Centre, Victoria Island, Lagos and virtually.

Speaking on the partnership with AfCFTA for the development of the SMARTAfCFTA Portal, Onyeagwu, said: "This collaboration aims to unlock the vast opportunities presented by AfCFTA not only for Nigeria's economic prosperity but also for advancing trade across African countries."

Onyeagwu noted the key role that the annual Zenith Bank Trade Seminar plays in deepening the

conversation on promoting nonoil export in Nigeria by bringing together non-oil export practitioners and relevant government agencies to interact and explore the opportunities and proffer solutions to the challenges of non-oil export in the country, noting that previous editions' outcomes have found expression and influenced policy initiatives.

For instance, the extension of the period of repatriation of non-oil export proceeds from 90 days to 180 days, and the policy mandating shippers not to carry export without a Nigeria Export Proceeds (NXP) Form Number were recommendations from previous seminars.

Also, the need to incentivise exporters to repatriate their export proceeds through the official channels and the recommendation to create export terminals across various export hubs in the country were also from past

seminars. Also, previous editions recommended having Export Desks in commercial banks, which has now been instituted.

In his keynote address at the Zenith Bank International Trade Seminar, Mene, thanked the Founder and Chairman of Zenith Bank, Jim Ovia, CFR, for partnering with the AfCFTA for the development of the SMARTAfCFTA Portal.

In his words: "Zenith Bank was the first bank to say "we want to partner with you". We went to see the Founder and Chairman, and he said that Zenith Bank wants to make a contribution to digitise trade in Africa. And so the portal was not my idea, it was not our idea at the AfCTA Secretariat, it was Zenith Bank that stepped up and said, 'this has to be done!'. So I want to thank you very much, GMD for this collaboration."

In his goodwill message, the Deputy Governor of Economic Policy, Central Bank of Nigeria

(CBN), Dr. Kingsley Obiora, who represented the Acting Governor of the CBN, Mr. Folashodun Adebisi Shonubi, commended Zenith Bank for leading Nigeria's non-oil export promotion advocacy. He bemoaned the 1.2 per cent non-oil export to total GDP ratio and emphasised the need for concerted efforts to boost non-oil exports in Nigeria.

Zenith Bank launched the NonOil Export Seminar in 2016 as an initiative to deepen the discourse on promoting the non-oil export business in Nigeria.

The 2023 International Trade Seminar also featured a goodwill message from the Secretary of the National Action Committee on AfCFTA, Mr. Olusegun Awolowo.

There were also two-panel discussions, with the first panel discussion titled: "Nigeria Non-Oil Export Industry – Growth Opportunities," while the second panel discussion was titled: "Harnessing the Opportunities in Service Export."

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INTERACTIVE SESSION BETWEEN EDO GOVT AND MEMBERS OF THE NMA...

L-R: Chairman, Nigeria Medical Association (NMA), Edo State Chapter, Dr. Udoka Imoisili; Edo State Governor, Mr. Godwin Obaseki; Secretary to the Edo State Government, Osarodion Ogie Esq., and Edo State Commissioner for Health, Dr. Samuel Alli, at an interactive session between Edo State Government and members of the NMA, Edo State Chapter, Private Medical Practitioners, and other stakeholders in the health sector, in Benin City, ... yesterday

Doctors Set to Call Off Strike after Senate’s Intervention

Cancel planned nationwide protest FG pleads for time to address demands Says Nigerians are dying in droves NMA urges FG, NARD to show restraint

Onyebuchi Ezigbo and Sunday Aborisade in Abuja Striking doctors under the aegis of the Nigerian Association of Resident Doctors (NARD) have promised to call off their two weeks old strike after a closed door meeting with Principal Officers of the Senate yesterday.

National President of the association, Dr. Emeka Innocent Orji, gave the indication while addressing the media shortly after the closed-door meeting with President of the Senate, Godswill Akpabio, and other Principal Officers of the Senate.

He stated, "we had a very fruitful meeting with the Senate led by the President of the Senate and from our discussions with them, we are very hopeful that when we table our discussions today before the NEC, something positive would come out.

"From our interaction with the President of the Senate and the practical demonstration he did before us today, we are very confident that there would be light at the end of the tunnel in the next 24 hours.

"Because of the intervention of the President of the Senate, who is the number three citizen and the assurance he has given us, our planned national protest has been cancelled while the decision on the ongoing strike would be taken as soon we meet,” he assured.

Speaking in the same vein, Senator Akpabio, thanked the medical doctors for honoring the Senate by calling off their planned national protest

and also working towards calling off the strike.

According to him, "I thank you on behalf of the Senate for honoring us with your decision not only to cancel the planned public protest, but to also call off the strike in the interest of the suffering masses.

"Your demands are well noted and let me assure you that as soon as a Minister in charge of Health is appointed, the Senate will work with him or her to expeditiously address all your grievances.

"The President Bola Tinubu-led administration is doctors’ friendly and that explains the large number of medical practitioners he has appointed into his cabinet.

"Strike by medical practitioners should not be allowed even for a day because of the impacts it creates in the polity and that is why the Senate is determined to ensure through interactions and consultation with relevant offices, amicable settlement of the impasse is reached," he stated.

Earlier, the federal government had asked the striking doctors to reconsider their action and return to work, adding that serious efforts were being made to address their key demands In the same vein, the Nigerian Medical Association (NMA), the umbrella body of doctors in Nigeria had said there was the need for the resident doctors to allow for more dialogue and for the federal government to eschew punitive measures in the handling of the dispute.

Addressing a Press Conference in Abuja yesterday, the Permanent

Secretary in the Federal Ministry of Labour and Employment, Daju Katchalon said the government had made spirited efforts to stop the resident doctors from going to strike but that it appeared they are hell-bent on endangering the lives of innocent Nigerians.

She said apart from pleading with the young doctors to allow the new administration settle down to business, the government has taken sincere steps to address their key demands.

Apart from writing to the

president for his intervention in the payment of 2023 Medical Residency Training Fund, she said a committee had been at up to draw up the policy framework for handling the issue of replacement of exited doctors from the system.

"The health sector is a very, very important sector. Not that any other sector is not important. They are all important but we all know what medical doctors are to us,” she added.

The Permanent Secretary further said that the parent ministry, Federal

A professor in Family Medicine, Prof. Seiyefa Brisibe, has expressed support for President Bola Tinubu’s recent removal of fuel subsidy, saying the action was long overdue because of the effects on the nation's Gross Domestic Product (GDP) and the economy.

He said the removal of fuel subsidy in Nigeria marked a significant turning point for the country's economy, insisting that subsidy had been a persistent challenge for the nation's economic managers.

Speaking at the Annual General Meeting (AGM) and Scientific Conference of the Bayelsa State branch of the Nigerian Medical

Association (NMA), held in Yenagoa, he said fuel subsidy posed several challenges to the economy.

The Professor who spoke on the theme: “The Impact of Fuel Subsidy Removal on Effective Health Care Delivery in Bayelsa State,” said petrol subsidy that was intended to make fuel prices affordable, suffered from corruption and mismanagement, benefiting a few while neglecting the majority.

He said, "Moreover, the substantial financial commitment required to sustain the subsidy strained the national budget, diverting resources from critical sectors like education, infrastructure, and healthcare. The subsidy also created market distortions and hindered the growth of a competitive downstream oil sector.

measures to resolve all areas of disagreement with the Resident doctors and eschew all punitive responses in the interest of industrial harmony.

In a statement signed by its National President, Dr. Uche Ojinmah, the NMA said as the umbrella body for all doctors including the NARD, it would as a matter of policy protect and promote her interest.

"It is our belief that this avoidable labour dispute has gone on for far too long to the detriment of the common Nigerian citizen.

Apapa Residents in Shock, as Cardoso Family Takes Possession of over 200 Buildings Wale Igbintade Anxiety, confusion and shock have gripped many residents, business and property owners at Kirikiri town in Apapa area of Lagos State as the beneficiaries of the Estate of the late Lawrenco Antonio Cardoso, have taken over possession following a consent judgement of the Lagos high court which ruled in their favour.

The land area covers about 50 acres with over 200 buildings comprising tank farms, offices, markets, mosque, and residential buildings already erected.

The exercise was sequel to the Terms of Settlement dated 18th day

of June, 2014, and filed at the High Court Registry, Lagos, same having been duly signed by parties in the suit, as well as their Counsel.

Many residents were shocked when the beneficiaries of the estate, stormed the area with security agents to take possession of the land by pasting notices on all the buildings reading: “M/7P/2014 Possession taken today August 8, 2023 by Court Order.”

The notice warned that attempt to re-enter or any forceful re-entry into possession of the property or part thereof by anyone corporate or individual shall be an intentional violation of the said judgements and

Subsidy Removal Marked Significant Turning Point for Nigeria’s Economy, Says Brisibe Olusegun Samuel in Yenagoa

Ministry of Health alongside other government agencies are working hand in glove to ensure that this matter is sorted out.

On the implementation of the "No work, No Pay directive, the Permanent Secretary said she cannot say what would be the fate of the doctors.

She also said she cannot give a timeframe for the conclusion of the negotiations on the grievances of the doctors.

On its part, the NMA urged the government to quickly conclude

"The removal of fuel subsidy was a necessary step to address these economic issues. It aimed to promote transparency, curb corruption, and redirect resources to areas that would benefit the majority of the population.

"Although the gains and effects of subsidy removal are yet to be fully realised, the removal of fuel subsidy opens up opportunities for a more sustainable and inclusive economic future for Nigeria.

"While the subsidy had some minor benefits, it disproportionately favored the wealthier segments of society rather than addressing the needs of the impoverished masses.

"By eliminating subsidy, the government aims to level the playing field and ensure that resources are

allocated more equitably to benefit all citizens.

"The long-term effects of subsidy removal are anticipated to align with the objectives of fostering transparency, accountability, and promoting a fairer distribution of resources."

He said the historical timeline of fuel subsidy in Nigeria had been marked by a series of shifts, protests and reversals, praying that this time, the decision stand firms and not reversed under pressure of ailing Nigerians "Instead, let us aspire that the remunerations obtained from the removal of fuel subsidy is judiciously utilised to finance crucial sectors of the economy, such as education, infrastructure, and healthcare.

the lawful execution which shall lead to prosecution of the involved violator for criminal offence in the face of the said valid and subsisting judgements.

The legally recognised beneficiaries of the estate are Mrs. Olaitan Ogunfade, Mr. Emmanuel Adewale Shyllo, John Oloye Reis, and Mr. Francis K Adeojo (for themselves and as representing all beneficiaries of the Estate of late Lawrenco Antonio Cardoso) While the respondents are Mrs. Stella Adedoyin Shonowo, Mrs. Bukola Amusan, Mrs. Adetokunbo Vera-Cruz , Mr. Lawrence Oluwatoyin Reis, Ms. Taiwo Shyleon, Ms, Winifred Cardoso, and the Probate Registrar, High Court of Lagos State Justice Jumoke Pedro of the Lagos High Court had in a consent judgement in suit number M/7P/14 set aside all previous dealings in properties forming part of Lawrenco Anthonio Cardoso Estate without first obtaining Letters of Administration.

The judge stated that those appointed and recognised as Administrators of the deceased estate shall immediately apply to the Probate Registrar, High Court of Lagos State for the processing and issuance of Letters of Administration consequent upon which the Administrator — General of Lagos State shall cease from further management to the estate amongst all beneficiaries.

The order stated: "Upon the Terms of Settlement dated 18th day of June, 2014 and filed at the High Court Registry, Lagos on 18th day of June, 2014 same having been duly signed by parties in this suit and the learned Counsel for the parties.

"It is hereby ordered that judgment

be and judge is hereby entered in this suit as follows: That all previous dealings in properties forming part of Lawrenco Anthonio Cardoso Estate without first obtaining Letters of Administration are hereby set aside.

"That the Administrator-General of Lagos State shall forthwith take possession of all properties comprised in or forming part of the Estate Pa Lawrenco Anthonio Cardoso (hereafter referred to a “the deceased estate”) and hand over same to the four persons listed hereunder upon their applying for letters of Administration in respect of the deceased estate from the 7 Defendant herein "That the following persons that is to say: Mrs. Felicia Enitan Fetuga, Mrs. Stella Adedoyin Shonowo, Mr. Emmanuel Adewale Shyllon and Mr Lawrenco Oluwatoyin Reis are hereby appointed and recognised as Administrators of the deceased estate provided that they shall immediately apply to the 7th Defendant for the processing and issuance of Letters of Administration consequent upon which the Administrator — General of Lagos State shall cease from further management to the estate amongst all beneficiaries.

"That the appointed Administrators upon taking over the management and control of estate property; shall do so as Trustees for themselves and on behalf of all the beneficiaries and/ or descendants of Late Pa Lawrenco Anthonio Cardoso and shall see to the proper disbursement and sharing of accruals to the estate amongst all beneficiaries.

"That annual accounts shall be rendered by the Administrators to every beneficiary or as may be requested by any constituted authority.

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POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

Ojelabi: 65 Garlands to a Political Enigma Eniola Opeyemi writes about the political relevance of the Chairman of the All Progressives Congress in Lagos State, Hon Cornelius Ojelabi, as he clocks 65.

I

t is Dale Carnegie who once said: “Most of the important things in the world have been accomplished by people who have kept on trying when there seems to be no hope”.

The above quote aptly describes Hon. Cornelius Oyefolu Ojelabi, who clocks 65 today.

And where do I begin and how best can I describe this personality with a Midas touch?

A manager of men, an astute leader, a father, a trail blazer, politician, a servant of the Most High, and an inspiration to younger generation, all rolled into one.

Many who had crossed his path are left with everlasting memories of his simplicity and large heart. This man of vision is a living testimony of how faith, optimism, determination, hardwork, and resilience could get a man to the crescendo of his dreams.

Ojelabi’s grass to grace story could well be likened to the Biblical quote: “Can any good thing come out of Nazareth? (St. John 1:46).

From the backwater of Ese-Ofin in the riverine neigbourhood in Ojo Local Govrenment of Lagos State, this son of a peasant farmer leapt, and subsequently took the world by storm.

Through sheer determination and doggedness, Ojelabi sprang from darkness to national prominence.

Unlike many, Ojelabi did not have the luxury of being born with a silver spoon. His family was neither rich nor poor. The fourth in a family of six, his parents were contented and lived within their means, providing modestly for their children.

They were also a staunch believer in the Nigeria project; although, his father who is now late, did not witness the Nigeria of his dream.

Nevertheless, they imbued in Ojelabi, that hope of a new Nigeria which he currently holds in his palm in his current designation as the Chairman of the ruling All Progressives Party (APC) in Lagos State. Overall, what stood Ojelabi and his siblings out were virtues which their parents bequeathed to them.

Thankfully, Ojelabi came from a very religious Christian home. The Holy-Bible says: “Do not

Ojelabi be deceived, evil communication corrupts good manners...(1 Corinthians 15:33-34)”.

As a lad, Ojelabi had learned to shield himself from bad companies.

This significantly contributed to his strong moral and religious background.

Therefore, what this celebrator could not enjoy in terms of financial means, he gained in moral endowment. And so it was against this background, this sexagenarian began his career.

As a lad, he had lived with his Uncle Mr. T.O. Ojelabi who was a teacher.

Unfortunately for him, the consistent transfer of his uncle from one school to another within the then Egun-Awori district made him a ‘locomotive’ as he too constantly migrated from one school to another. He had to paddle a canoe back and forth from his base to Salvation Army School, Bolgo and Ibeshe town between 1974 to 1979 where he eventually wrapped up his primary education. Thereafter he proceeded to Awori College, in Ojo for his secondary education between 1974 and 1979. In his quest for higher

education, he gained admission to the Lagos State University (LASU) where he bagged a Bachelor Degree in History and International Relations.

In his formative years, Ojelabi was schooled to do things impeccably. To him, what is worth doing at all is worth doing well.

Therein he began to understand inspiration, aspiration and perspiration as the bedrock of life.

Thankfully too, his strong moral background spurred him on, helping him to differentiate between industry and indolence as a window to either success or failure; Ojelabi chose the former.

His religious background similarly opened his eyes to the pre-eminence of God and the need to take Him first in everything.

As a person who had tasted the rough and tough aspect of life, this made him strong-willed and independent-minded. Yet, he did not allow this sour episode to alter his approach to life or his relationship with whoever fate destined on his path. Il If anything, his experience during his growing years further toughened his desire to succeed.

Ojelabi soon realised that one’s background had little or nothing to do in one’s pursuit of greatness. This realisation was to further make him tighten his belt with a stronger resolve to take the bull by the horns.

Armed with his dream, Ojelabi, in his teenage years, worked as a potter, helping buyers carry their loads at open markets.

At weekend, he would beg to work as a labourer in people’s farmland, albeit for a pittance. Those kind of undertaking, no doubt, were drudgery, energy-sapping and often thankless; yet Ojelabi remained frugal, sustaining himself with the paltry he got from his sweats.

Also as a young adult, Ojelabi took keen interest in serving in God’s vineyard. From the beginning, he was nick-named “Church-boy” – as he willingly surrendered himself to cleaning the church pews and altar.

Ojelabi later joined the choristers, and then usher, including a few other portfolios until he became a Sunday School Teacher at the Cherubim

and Seraphim Society.

Through his dedication to service, this sexagenarian was later to be ordained as a pastor. He thereafter rose through the ranks to become a Senior Apostle in C&S, combining his spiritual calling and professional duty without allowing one to affect the other.

Although Ojelabi began his career with the School Management Committee in Ojo where he worked between 1980 to 1996; yet he had always nursed the desire to serve his people, something that led him into politics.

He began his political sojourn with the Unity Party of Nigeria (now defunct) and drew inspiration from a foremost politician in Awori land, Chief Richard Afolabi Ege. In 1997, he threw his hat into the ring contesting for the chairmanship position of Ojo Local Government under the platform of Grassroot Democratic Movement. Ojelabi won with a landslide! His administration was to witness a cascade of achievements including the establishment of the first day care centre in Ojo, health centre, public library, Ojo Ventures, the first Magistrate Court, as well as initiating the 3-in-1 lecture theater in LASU, to mention but a few.

Nevertheless, his tenure was short-lived when the then Head of State cum maximum ruler, General Sanni Abacha suddenly died.

Nevertheless, that was not enough to deter this distinguished son of Awori land from serving his people. In 2003, he was appointed the first executive secretary of the then newly created Oto-Awori Local Council Development Area.

Ojelabi was to later contest as the chairman of Oto/Awori Local Council Development Area and emerged victorious. His victory, nonetheless, was anchored on his track record in leadership and grassroots development.

-Opeyemi writes from Lagos.

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

Tension in Ekiti Ahead of December LG Poll Gbenga Sodeinde writes that crisis is brewing in some parts of Ekiti State as the state gets set for the local government election in December, 2023.

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he reported attack on some party stalwarts of the All Progressive Congress (APC) recently in Efon Local Government area of Ekiti State by alleged rival party caucus of the party allegedly loyal to Hon. Oladapo Karounwi, is already creating tension ahead of the forthcoming local government polls scheduled for December, 2023 in the state.

Findings by THISDAY revealed that no fewer than four persons, including a businessman, Chief Bode Olayinka (BOS), were wounded during an attack on their family house on Monday, July 31 in Efon.

It was also gathered that property and goods worth millions of Naira were destroyed by the assailants who allegedly swooped on their victims while they were relaxing in front of their family house.

One of the victims of the alleged political attack, Mr. Olaitan Olayinka who is an aspirant for the forthcoming Efon Local Government poll, accused a rival party caucus member, Gbenga Oluwafemi nicknamed Owolesu of leading a gang of hoodlums to attack him and members of his family at their family house in Efon.

He also claimed that the hoodlums destroyed some of their property and the goods in his warehouse worth millions of Naira.

Olayinka further disclosed that Owolesu is now cooling off in police custody after he was arrested by some military personnel who came to their rescue during the heinous attack.

His words: “The attack on us was not unconnected with an attempt by a group of party members who are loyal to one of the leaders in the local government, Hon. Oladapo Karounwi, to silence other aspirants so as to impose his

Oyebanji preferred candidates on the people ahead of local government election coming up in December this year.

“Our attackers were more than 20 and they carried dangerous weapons such as cutlasses, dane gun and others to attack us in front of their family house while we were relaxing on Monday evening.

“I am younger brother to Chief Bode Olayinka,(BOS). I am an event planner staying in Efon after my retirement as a civil servant.

I’m interested in contesting for the chairmanship of my local government area here in Efon.

“And this time around, they are saying, they don’t want any other aspirant to contest against Hon. Karounwi Oladapo’s preferred candidate who happens to be his personal driver, one Niyi Babalola,

but I have insisted that I will contest and win because there is a freedom of association, it is my legal right to contest and that anyone who emerges during the primary election of the party will be supported by all.

“But, on 31st of July, 2023 during a masquerade event in Efon, the thugs had wanted to forcefully remove a cap I did as part of my political awareness strategies ahead of the poll from one of my supporters, Mr. Boboye Olamilekan aka Jekomo, and when the guy refused to surrender it, they descended on him, beat him mercilessly and tore his clothes.

“Immediately the boy came to report to me, I begged him that I don’t want to fight with anybody now since election is still far ahead and I put a call across to Chief Jeje who happens to be one of the APC stalwarts and elders in Efon to inform him about the development.

“Chief Jeje later called back to inform me that he has warned the leader of the group, Oluwafemi(Owolesu) to henceforth stop the nonsense he was doing.

“I thought everything was settled, but around 8pm, my brother Chief Bode Olayinka, my sister, Mrs. Jumoke Oladaiye, all of us of the same parents and others, were sitting in front of our family house taking some drinks and pepper soup when we saw the group led

by Gbenga Oluwafemi again moving round the streets and they came to us and ordered all of us to leave the place. We were just looking at him in amazement.”

“One boy then questioned his authority to give such order, insisting that he bought the drinks and that no one could just ask him to leave because he came there to enjoy himself.

“We called the police in Efon but they

couldn’t come. They said the boys will attack them. But the military personnel later arrested the leader of the gang, Gbenga Oluwafemi (Owolesu), and handed him over to the police.”

Olayinka said four of the wounded victims were at the police headquarters in Ado Ekiti to make a formal statement with the police.

While blaming the unfortunate incident on Karounwi, the APC chieftain said the commissioner’s alleged support for them had been causing a lot of crises within the APC in Efon Local Government Area of the State.

He called on Governor Biodun Oyebanji to intervene and save his family members and party leaders from further attacks that can lead to serious political crisis in the area.

All attempts to confirm the development from the State Police Public Relations Officer, Mr. Sunday Abutu, proved abortive as calls put across to him were not picked as at the time of filing this report.

However, a source from the Police Headquarters confirmed that Oluwafemi (Owolesu) is being detained at the Rapid Response Squad (RRS) Unit in Ado Ekiti.

But when contacted on phone, Karounwi who denied the allegation vehemently, said he was no where near Efon during the attack and could not even understand why such attack should take place.

The former Deputy Speaker of the Ekiti State House of Assembly, also dismissed allegations

by Olayinka as one of the lies cooked up to smear his image being a political bigwig in the state.

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

WEDNESDAY AUGUST 9, 2023 • T H I S D AY

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FEATURES

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

Reducing Poverty for Women through Craft, Empowerment In a bid to tackle poverty for women, 500 women were recently empowered by the Centre for Black and African Arts and Civilisation, CBAAC in Benin City, Edo State, Precious Ugwuzor reports

Participants at the training centre

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s part of effort by the federal government to reduce poverty through women empowerment, the Centre for Black and African Arts and Civilisation (CBAAC), organised a two-day Workshop/Training programme for 500 Women in Craft / Entrepreneurship in Edo State, at Bishop Kelly Pastoral Centre, St Paul Catholic Church, off Airport Road, Benin City.

On the first day, the workshop/training, was conducted by Mrs. Roli Nova Agbajor of the Department of Business Administration, University of Benin and Mrs Abiola Deisy, Ms Faith and Inerdia Elizabeth, while it was chaired by Hon. Martins Osakue.

In his opening remark, the chairman of the occasion Hon Osakue thanked the Director General of CBAAC and the Chairman House Committee on Culture and Tourism, Hon Omoregie Ogbeide-Ihama, for bringing the workshop/training programme down to Edo South.

He expressed gratitude and opined that the empowerment workshop / training programme would enable the women to build capacity for innovation, sharpen their innate skills that will make them become self-sustaining and employers of labour.

He further stated that a workshop/ training programme of this nature, which combines theory and practice, particularly on entrepreneurship is a welcome idea as most developed countries of the world achieved their feet by enhancing the entrepreneurship skills of their citizens, adding that if we continue with this type of concept, poverty would be reduce to the barest minimum.

On his part, the Deputy Director Research and Publications, Mr Adesegun Dosumu who represented the Director-General of the Centre for Black and African Arts and Civilisation (CBAAC), Hon Oluwabunmi Amao, welcomed guests to the programme and expressed satisfaction on the large turnout of participants to the event.

He said the programme was conceived due to the realisation that if you want to build a nation, women must be empowered and encouraged to play a key role. That the essence of the programme was to build capacity that would enable the women to innovate.

Accordingly, the event is designed to empower women through culture, which is inexhaustible. That while other resources like petroleum, gas, etc., would someday be exhausted, that knowledge, particularly cultural knowledge, cannot be exhausted.

He thereafter encouraged the women to show commitment and make notes as it will be very useful to them. The Director-General also stated that culturally, the micro economic management of the home fronts fall on the shoulders of women.

"That as societies grow as a result of globalisation and economic liberalisation, it comes very compelling for women to under training in order to innovate to meet up with the current and more difficult challenges of managing the home font in the 21st century.

"That women must as a matter of urgency be prepared to innovate and embrace changes in a more shrinking and dynamic world if they are make any meaningful progress."

CBAAC DG, Hon Oluwabunmi Amao She further stated that CBAAC under her leadership will continue to carry out training programmes and events that are geared towards uplifting the economic capacity of the African woman.

The Chairman House Committee on Culture and Tourism, Hon Omoregie Ogbeide – Ihama, who was present at the workshop/training programme thanked CBAAC for organising the empowerment programme for women in Edo State.

He stated that the programme was a clear demonstration that the federal government is actually making efforts to reduce poverty and unemployment.

Therefore, he encouraged participants to take the training exercise very serious as it has the capacity of taking them out of their present economic state to a much more fulfilling and rewarding state of life.

He also promised that as a parliamentarian, that they will continue to assist the centre through policy directives and oversight functions that would enable CBAAC to achieve her statutory mandate – that of promoting and propagating for enhanced understanding and appreciation the rich cultural heritage of Black and African peoples globally.

The lecture on Craft and Entrepreneurship was delivered by Mrs Roli Nova Agbajor of the University of Benin. She started her training by first defining the meaning of entrepreneurship as a business venture owned and finance by an individual, adding that the good thing about being an entrepreneur is that one does not need so much money to get started.

To be an entrepreneur she said, one must have an idea of what he or she wants to do – that is, conceptualisation

Chairman, House Committee on Culture and Tourism. Hon Omoregie Ogbeide of a Business Plan; Capital; Location; Managerial skill; the kind of products / services the person wants to render, the target market, etc, adding that the understanding of these factors would go a long way to becoming a successful entrepreneur.

She explained that the skills that will be taught during the course of the programme – Beads making, Hair-braiding and Tie & Dye only require little capital to commence; that the most important thing is acquiring the needed skill. That once the necessary skill is acquired, proper management of the capital invested is important in order to reduce risks and grow profit.

On the issue of location of the business, particularly a start-up business like Beads, Tie & Dye and Hair-Braiding, the lecturer explained that due to the high cost of renting a business space, a prospective entrepreneur may start from her apartment as the business does not occupy much space.

She stressed on the need to have additional sources of income even when one has a white kola job, and stated further that the varied social media platforms have helped in eliminating the need for shops especially for small businesses.

Mrs Roli Nova Agbajor encouraged the participants to make judicious use of their phones in marketing their skills and creative products.

The workshop/training for the day two of the programme which was on Bead Making, Hair-Braiding and Tie & Dye was conducted by Mrs Abiola Deisy, Mrs Faith, and Inedia Elizabeth. While the lead speaker Mrs Abiola Deisy gave a theoretical overview of the three key elements of the programme, others handled specific areas and conducted the practical aspects.

In her presentation, Mrs Abiola said that beads are unique element of culture used in adorning and embellishing ones dress also serve as mark of royalty that distinguish royal families from their subjects.

Women must as a matter of urgency be prepared to innovate and embrace changes in a more shrinking and dynamic world if they are make any meaningful progress

She also stated that beads have a long history among Africans and are used for various reasons. They are cultural symbols used in celebration of womanhood, sexuality, femininity, fertility, healing, spirituality, protection, etc. the meaning, colours and different shapes of beads varies from one culture to the other.

Besides their physical adornment, beads are among the oldest known symbols used by humans across time and space. Beads have social, cultural, political and religious significance in Africa, as the continent more than any other region of the world, has used bead more prominently.

The facilitator also emphasised on the unique importance of beads as one of the earliest occupation that provided steady source of income to those involved in the bead making occupation. Thereafter, the facilitators taught the participants the rudiments of bead making and methods of designing different type of beads; from the royal beads to the common beads.

On Tie & Dye fabric, she said that tie & dye also represents one of the foremost trade in Africa. That the varied designs of African fabric such as adire, akwate, kente captured the attention of the early European missionaries in Africa, and these were flourishing occupational trades.

Same also goes with Hair-braiding, which the speaker said was enhanced the beauty and elegance of the African woman. Beads, Tie & Dye and Hair-braiding were unique elements of fashion that provided and keep providing millions of jobs to both women and men in Africa. if properly harnessed and deployed, they have the potentials of reducing unemployment significantly.

The talk was followed by the practical demonstration and training on how to make Beads, Tie &Dye and Hair-Braiding by Mrs Faith and Inedia Elizabeth.

At the end of the workshop/training programme, the following objectives were achieved as outlined that participants gained skills and useful insights on the techniques of Bead making, tie & dye and Hair-Braiding.

This they practically demonstrated at the end of the training exercise.

As a result of the on the spot training and assessment technique adopted, it is safe to say that participants have the basic understanding and have acquired skills to innovate as they created new designs.

With what they have learnt in the course of the training, there is no doubt that the participants would put what they have been taught into practice and their energies will be channelled in using their new skills to productive use.

In all, more than 500 women attended the workshop/training and at the end of the very successful Workshop / Training programme, certificates of participation were issued to participants.

The workshop/training which was a resounding success exposed participants to the different techniques on Beads making, Tie & Dye and Hair -Braiding as well as how to make them into unique designs, different shapes and sizes, and how their skills and knowledge of craft can be deployed to generate income and employment.

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T H I S D AY ˾ ͷ˜ 2023

CITYSTRINGS

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A Triumphant Celebration of Legacy and Unity Precious Ugwuzor writes that for Bendel State University, BENSU, now known as Ambrose Alli University, AAU, Ekpoma, Law Class of '87, its recently held reunion was a triumphant celebration of legacy and unity

I

n a radiant display of nostalgia, camaraderie, and benevolence, the illustrious Bendel State University (BENSU) Law Class of '87 recently convened for a memorable three-day reunion at the Colossus Hotel, Ikeja, Lagos.

From the 3rd to the 5th of August, 2023, old bonds were reignited, memories were cherished, and a legacy was celebrated.

The association's 2023 Reunion theme was: “Developing Alumni Connections: Challenges and Prospects”, and the Special Guest of Honour at the occasion was the immediate past Minister of State for Budget and National Planning, Prince Clem Agba, CON. BENSU is now known as the Ambrose Alli University (AAU), Ekpoma.

For day one, it kicked off on a glittering start as the event commenced with a spectacular cocktail party that set the tone for the festivities. Classmates were joyously reunited, exchanging laughter and stories, as they embarked on a journey down memory lane. The air was filled with the electric hum of rekindled friendships, and the excitement was palpable.

The second day was marked by a momentous class meeting, a time of reflection and renewal. The esteemed Chairman of the BENSU Law Class '87 Association, Mr. Sylva Ogwemoh, Senior Advocate of Nigeria (SAN), graced the occasion with his presence and delivered a poignant speech that stirred both hearts and minds. His words served as a reminder of the shared values that have bound this exceptional group together.

He paid tribute to the late Ambrose Folorunsho Alli, a Professor of Morbid Anatomy and the first governor of Old Bendel State (now Edo State) who established the university. He stated that the major aim of the Association is to improve the welfare of members and also support AAU and particularly the Faculty of Law of the University in areas of need.

He also said the Class of ‘87 boasts of an array of Judges, Senior Advocates of Nigeria, a distinguished Professor of Law, Magistrates, Directors in Public Service, Seasoned Politicians and successful businessmen and women.

A remarkable highlight of this day was the spirit of giving that flowed abundantly. With unwavering generosity, donations totalling over

Members of the class and guests at the reunion N10 million naira were raised for the purchase of law books for the library of the Faculty of Law at AAU. This act of kindness will undoubtedly leave a lasting impact on the education and empowerment of future legal minds.

Adding intellectual fervour to the occasion was a captivating Health Talk delivered by the erudite Dr. Augustine Idenebeme Aipoh. Attendees were enlightened on matters of well-being, highlighting the holistic approach to success that has defined the journey of BENSU Law Class '87.

As the sun dipped below the horizon, a splendid dinner awaited, graced by the presence of the distinguished Prince Clem Agba - CON, the immediate past Minister of State for Budget and National Planning. His insightful speech resonated deeply, reminding all present of the enduring importance of their shared vocation and the impact they can continue to make on society.

He said: “Alumni associations in

Nigeria should, therefore, participate actively in the development of their various institutions like their counterparts in developed countries by looking beyond providing infrastructure to looking into the administration and academic situation of our universities to know truly if we are producing the right kind of students for the society.

“This is because the real challenges of university education and development can only be properly addressed with the involvement and contributions of those who passed through its four walls and are interested in the progress and further development of the institution’’, he said.

According to the Honourable Minister, “It behooves alumni associations to ensure that the connections they have built over the years translates into tangible benefits to their institutions of training.”

He believes that the existence of an academic institution in modern sense depends largely on the commitment and carriage of its alumni.

“This is because the acquisition of knowledge and tradition and the engagement in scholarship is only appreciated through a continuous display

of academic traditions and self-pride in their belief system in sustaining the values of their self-discovery and self-consciousness,” he said.

He noted that beyond donations, alumni associations can volunteer for activities in the institutions, carry out speaking engagements, engage in mentoring and take active interest in the institution’s administration.

On the third day, the reunion concluded with a heartwarming breakfast, a final moment for laughter and farewells. Departing with hearts full of cherished memories and spirits uplifted, the BENSU Law Class of '87 bid adieu to the Colossus Hotel, each classmate taking with them the renewed determination to uphold their legacy and the values they hold dear.

This extraordinary reunion of the BENSU Law Class '87 was more than just an event; it was a celebration of unity, purpose, and the enduring bond that has carried these legal professionals through decades of change and progress. As they return to their individual paths, they do so with a shared commitment to upholding the noble ideals of justice and scholarship that have defined their journey.

Chidi Collins: Intertwining Gospel Melodies with Steadfast Faith Chidi Collins, is a gospel artiste with a divine melody. Precious Ugwuzor recently stepped into his captivating world where gospel melodies intertwine with steadfast faith, creating an enchanting journey of inspiration and divine encounter

W

ith the spirit of a worshipper and the heart of a believer, Chidi Collins weaves stories of hope, love, and redemption through his soul-stirring

music.

Early Days In the heart of Abia State, Nigeria, a musical tale began even before Chidi Collins could articulate his first words. His innate connection with music led him to compose his inaugural song, a melody that became a cherished memory held by his family.

As a young soul, he found solace in the church's children's department, where he and his younger brother sang with unbridled passion during street evangelism at bustling marketplaces.

Life as a Christian Rooted in a strong Christian family, Chidi Collins' upbringing was imbued with the knowledge of God's word. However, it was at the age of 15 that he embraced his personal encounter with Jesus Christ, a transformative moment that solidified his faith. Drawn by the zeal and dedication of his father's love for God, he embarked on a journey of unwavering devotion and whole-hearted worship.

Childhood Trajectory , Ambition Amidst the bustling streets of Lagos, Nigeria,

Collins Chidi Collins' childhood dance took place. Raised amidst the embrace of church activities, he sought joy in the teachings of Royal Rangers, an Assemblies of God boys club. Night vigils and seeking God's presence in the church vestry became sacred rituals that shaped his soulful connection with music and faith.

Meanwhile, in the heart of his young soul, an ambition was ignited -

the love for gospel music. Alongside his friends, Chidi Collins founded the "Philharmonics," an acapella group that honed their skills until their music found a home in countless churches and gatherings. It was during this time that Chidi composed the timeless song "Bend Low," whose echoes would reverberate through generations.

vessel for divine connection and healing.

Set Apart by Worship What sets Chidi Collins apart is not just his music but the essence of his worship philosophy. To him, worship is more than mere songs; it's a lifestyle, a holistic offering of oneself to the Creator.

This divine understanding breathed life into his compositions, creating a unique path in the music industry, where integrity and devotion to Christ shine through each note.

As he embarked on his journey as a gospel artist, Chidi Collins embraced the power of gospel music to touch lives across boundaries.

While some may see gospel as limiting, he sees it as a universal language of hope and redemption, a message that resonates with every heart and soul in need of grace.

How “Ekele” was Birthed In a heartfelt expression of thanksgiving, "Ekele" emerged as a celebration of God's goodness and countless blessings in Chidi Collins' life. Its resonant notes became an invitation for others to join in the joyful chorus of praise.

The Musical Odyssey Ahead As the journey continues, Chidi Collins envisions expanding the scope of his music, venturing into diverse genres while staying true to his gospel roots. With a heart anchored in faith and love, he aspires to touch the lives of souls far and wide through his melodious offerings.

The Testimony of Triumph Through the triumphs and challenges of his musical expedition, Chidi Collins stood firm on the foundation of his faith. Encounters with testimonies of transformed lives became his greatest reward, as his music became a

What Inspired “Ancient of Days” In the depths of reverence and gratitude, "Ancient of Days" was born. A serenade to the Audience of One, this divine melody emerged as Chidi Collins sought to offer genuine worship before the Throne of Grace

Essentially, the heartfelt message Chidi Collins' melody of gratitude extends to his fans, whose unwavering support has been beacon of encouragement comes with each note he sings, reaffirming his commitment to deliver soul-lifting music, spreading God's love, and inspiring souls to experience the transformative power of divine encounter.

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WEDNESDAY AUGUST 9, 2023

Human affairs are increasingly being run on artificial intelligence, writes Sonny Aragba-Akpore

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DELE OLOWU urges Ben Kalu, deputy speaker House of Reps to address the burdens which challenge his people

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21 4

T H I S D AY

WEDNESDAY AUGUST 9, 2023

EDITORIAL

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

THE DANGER OF NIGHT TRAVELS Night journeys are dangerous in the face of the season, bad roads and criminal elements

D

ue to the growing risks, the Federal Road Safety Corps (FRSC) has warned motorists in the country against night travel, especially during the ongoing rainy season.

The Enugu State Sector Command of FRSC, Joseph Toby, advised travellers and motorists that convey people to far distances to DOZD\V PDNH SODQV DQG ´VHW RͿ RQ WKH MRXUQH\ at dawn”, as well as put their vehicles in good working condition ahead of their trips. “At times, due to windstorms before rainfall, a tree can fall on the road, if a driver is on speed, it will take the grace of God for the driver to spot the fallen tree in good time,” Toby said.

“Apart from these, the force of nature can make WKH GULYHU GR]H RͿ DQG lose control, as well as the activities of men-ofthe-underworld.”

We agree with Toby.

It goes without saying that every driver faces over 70% less visibility and extremely high risk of accidents by the mere fact of travelling at night.

Oncoming vehicles present dangers either from the inability to correctly assess the intervening distance, or simply from the glare of headlamps WKDW PD\ LPSDLU SURSHU REMHFW LGHQWLÀFDWLRQ Except for frequent users of a route, road bumps and bad spots will not be detected on time and even frequent users often do not fare much better at night. Bends are a nightmare and may sometimes be seen only when it is too late to make a smooth turn.

Noting these clear dangers and taking precautions when travelling at night will ameliorate these dangers. But that is not all. No amount of care by D GULYHU FDQ À[ D EDG URDG RU ÀOO JDSLQJ SRWKROHV on a highly travelled highway. Our roads are bad and getting worse by the day. Meanwhile, death WROO RQ WKH URDG NHHSV ULVLQJ 7KH HͿHFWLYHQHVV

and relevance of security patrols on our highways is something else. Over 80% of the check points that sometimes delay travellers during the day, because they are ostensibly set up to identify and stop felons, disappear by nightfall. The few left DUH HLWKHU OLW XS E\ ERQÀUHV ZKLOH WKH VHFXULW\ PHQ sleep in their packed vehicles, or they are so far between on the long stretch of road as to serve as any deterrent to aspiring mischief makers. In the end, security is not provided for the citizenry and the interest of the nation is not served. %XW WKH PDWWHU RI HͿHFWLYH SDWUROV PXVW DOVR be viewed by asking whether the Nigeria Police functions as an operations and logistics savvy organisation. It does not. Personnel have been known to be on their beats without relief duty for days, and sometimes weeks. Equipment is obsolete and patrol vehicles are barely mobile, often not able to give a healthy turtle a good chase. Even military ÀUHSRZHU IDOOV IDU VKRUW of the vastly superior capabilities of the felons on RXU URDGV 1RWZLWKVWDQGLQJ WKH SROLFH KDYH D MRE and a duty and should address its personnel and institutional challenges and conduct itself with greater sense of responsibility.

Transport owners should also pay closer attention to the behaviour of their drivers, particularly their night drivers. Many of them are known to live by WKH PD[LP ´,W LV RQO\ DIWHU \RX KDYH ÀOOHG \RXU head with something hot to confront the forces RI WKH QLJKW WKDW \RX FDQ ÀOO \RXU IXHO WDQN DQG commence a night trip”. Such a practice is clearly unacceptable. We therefore urge the FRSC to intensify its road user education programme while transport owners and the security agencies must rise to the challenge of meeting the legitimate expectations of Nigerian road users about their safety.

FRSC should intensify its road user education programme while transport owners and the security agencies must rise to the challenge of meeting the legitimate expectations of Nigerian road users about their safety T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS HEALTH BENEFITS OF BREASTFEEDING The world breastfeeding week is celebrated annually August 1- 7. More than ever, it is important that attention is turned to a practice that could save millions of the youngest lives every year.

Breastfeeding is simply the easiest and most familiar exercise for newborns. The urge to feed, to be nourished, is as old as life itself.

3URSHU QRXULVKPHQW LV WRR VLJQLÀFDQW WR EH SXW LQWR ZRUGV It is one of the reasons food insecurity is one of the most SUHVVLQJ SUREOHPV WRGD\ ,Q PDQ\ SDUWV RI WKH ZRUOG FRQÁLFW has continued to drive food insecurity, shaping a world that is as angry as it is hungry.

For newborns, when they leave the sanctuary that the womb is, they immediately confront the biting need that nutrition is. Because at that point they are completely dependent on their mothers, the importance of feeding them properly can never be overemphasized. %UHDVWIHHGLQJ LV RQH RI WKH PRVW HͿHFWLYH ZD\V WR HQVXUH child health and survival. However, contrary to the World Health Organization’s recommendations, fewer than half of

infants under six months old are exclusively breastfed.

Breastmilk is the ideal food for infants. It is safe, clean and contains antibodies which help protect against many common childhood illnesses. Breastmilk provides all the energy DQG QXWULHQWV WKDW WKH LQIDQW UHTXLUHV IRU WKH ÀUVW PRQWKV RI life, and it continues to provide up to half or more of a child’s QXWULWLRQDO QHHGV GXULQJ WKH VHFRQG KDOI RI WKH ÀUVW \HDU DQG up to one third during the second year of life.

Breastfed children perform better on intelligence tests, are less likely to be overweight or obese and less prone to diabetes later in life. Women who breastfeed also have a reduced risk of breast and ovarian cancers.

Inappropriate marketing of breast-milk substitutes continXHV WR XQGHUPLQH HͿRUWV WR LPSURYH EUHDVWIHHGLQJ UDWHV DQG duration worldwide. )RU QHZERUQV DQG WKHLU PRWKHUV WKH EHQHÀW RI EUHDVWIHHGing for their health in the long-term and short term are alPRVW XQTXDQWLÀDEOH $SDUW IURP WKH XQGRXEWHG KHDOWK EHQHÀWV WKHUH DUH DOVR XVXDOO\ D KRVW RI HPRWLRQDO EHQHÀWV This means that breastfeeding should be encouraged.

Kaduna State is currently mulling in a legislation to supSRUW ZRPHQ WR H[FOXVLYHO\ EUHDVWIHHG WKHLU EDVLV IRU WKH ÀUVW six months of their lives. To encourage this further, working women will be given a paid leave.

That is certainly the way to go. To encourage something that has proven as valuable as breastfeeding, policy must morph into legislation for maximum results.

As a country, infant and maternal mortality remain dangerously high. Too many women and children continue to die carelessly and needlessly because of entirely preventable, Breastfeeding can reduce the high mortality rate and should be encouraged. Encouraging breastfeeding should be wholistic.

Breastfeeding is a natural way to curb infant mortality ZKLOH SURYLGLQJ D ZKROH UDQJH RI EHQHÀWV ,W ZRXOG EH WUDJLF if Nigeria does not initiate policies and legislations to support this practice which supports life itself.

Ike Willie-Nwobu, Ikewilly9@gmail.com

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11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT MONDAY, JULY 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Oyedele: Despite Multiplicity of Taxes, Revenues Much Lower, 96% Used for Debt Service

James Emejo in Abuja The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has said in spite of the multiplicity of taxes, Nigeria’s tax-to GDP ratio remained one of the lowest in Africa.

He said notwithstanding the recent review of the tax to GDP to about 10.8 per cent – “that’s still much lower than it needs to be despite the so many taxes that we collect.”

Speaking at the opening of the 153rd meeting of the Joint Tax Board (JTB) with the theme: “Harmonization and Codification of Taxes at the National and Sub-national levels: Key to Achieving a Tax Friendly Environment in Nigeria,” Oyedele also revealed that the country was spending about 96 per cent of its revenues to service debts.

He said, “We know that Nigeria’s tax to GDP ratio is one of the lowest for Africa even with the recent revision to about 10.8 per cent – that’s

still much lower than it needs to be despite having so many taxes that we collect.

“And because we do not collect enough revenues to fund social services, infrastructure and take care of our country, we have to resort to very significant borrowing so much so that at some points at the federal level, we were spending almost 96 per cent just to service debts. Of course, you can agree with me that there’s no way a country can develop with that kind of revenue and

debt profile.”

He said though some progress had been recorded over the years in tax administration, “that progress hasn’t been enough, which means more work needs to be done.”

Oyedele identified multiplicity of taxes as well as a multiplicity of revenue collection agencies as the key challenges facing the country’s tax system.

He said the tax system is largely fragmented with a lack of proper coordination at both

the federal and state levels.

He said despite low revenues, the country has one of the highest costs of revenue collection in the world, noting that the global benchmark remains 1 per cent.

According to him, “Many countries that collect 10 times more than what we collect are not even spending up to one per cent. For Nigeria, it is unbelievably high, this goes to show that we have a lot of work to do.”

He said transforming

the country’s tax system would require administrative interventions, constitutional amendments/legal changes, use of technology, vertical and horizontal coordination as well as a revisit of the concept of fiscal federalism.

He also said the country should ultimately aim towards single-digit taxes, clarity of taxing rights, integration of tax collection functions, harmonisation of revenue administration, and simplified approach to tax compliance.

At 42% MoM Increase, DMBs’ Deposit with CBN Hits N822.34bn Nume Ekeghe Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, the apex banks’ Financial Data posted on its website has revealed.

The N822.34 billion represents 42 per cent Month-on-Month (MoM) increase from N579.27 billion in June 2023.

Analysts attributs the development to excess liquidity in the banking sector and hedging by banks to enhance Capital Adequacy Ratio (CAR).

Analysis of the CBN figurs revealed that DMBs in January deposited N584.79 billion; N668.87billion and N471.39billion in February and March 2023, respectively.

In April, a total N223.04billion was

deposited and it increased to N461.85billion in May 2023.

DMBs through Standing Deposit Facility (SDF) hits highest figure since the beginning of the year as N1.959trillion was disbursed to three tiers of government in July 2023.

The SDF is a lower corridor of the Monetary Policy Rate (MPR) at which DMBs and discount houses can deposit

money overnight with the CBN for an interest rate.

The applicable interest rate on SDF moved to 7 per cent at an asymmetric corridor of +100/-300 basis points around the 18.75 per cent MPR in July 2023 from +100/-700 basis points.

MPR is the benchmark interest rate that determines other interest rates in the financial system.

According to analysts,

the shared N1.959trillion in July 2023 awash the banking sector with excess liquidity, leaving banks with no choice than to deposit with the CBN. The N1.959 trillion is nearly triple the N786.161 billion shared in June and more than triple the N655.93 billion in May 2023.

Commenting, the Head, Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle

Olubunmi, attributed the 42 per cent to excess liquidity in the banking sector amid hike in FAAC allocation and increasing money supply.

According to him, “If inter-bank interest rate is less than one per cent, and as a bank, I have access cash, the best thing to do is saving with CBN. So, the increase in SDF is a function of money in circulation and a lot of banks are awash with liquidity.”

M A R K E T D ATA A S AT T U E S D AY, A U G U S T 8 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) July 27, ^13.53 23106.81 8.99 -0.01 2023 MAR-2025 ^12.50 2227, 103.19 11.00 0.00 July JAN-2026 2023 ^16.2884 27, 110.61 12.55 0.00 July 17-MAR-27 2023 ^13.98 2327, 104.49 12.65 0.00 July FEB-2028 2023 ^14.55 2627, 107.55 12.65 0.00 July APR-2029 2023

BILLS MATURITY

Discount Yield

Change (%) Updated Time

MATURITY

NTB 24-Aug23 NTB 7-Sep23 NTB 26-Oct23 NTB 9-Nov23

3.88

27, 1.64 July 2023

NTB 7-Dec23

JULI CP II 25OCT-23 ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

3.89

4.13

4.15

5.00

5.06

5.25

5.33

5.75

5.87

OTC F X F U T U R E S

CPS

27, 1.73 July 2023 27, 2.04 July 2023 27, 2.13 July 2023 27, 2.32 July 2023

Discount Yield

Change (%) Updated Time

17.73 18.54

27, 2.05 July 2023

16.03 16.86

27, 2.21 July 2023

20.26 21.68

27, 2.25 July 2023

12.92 13.49

27, 2.25 July 2023

20.27 21.70

27, 2.25 July 2023

CONTRACT Current Updated Time TENOR Contract Rate ($/₦) (MONTH) July 27, NGUS AUG 13 914.19 28 2024 2023 July 27, NGUS SEP 14 927.51 25 2024 2023 July 27, NGUS OCT 15 938.61 30 2024 2023 July 27, NGUS NOV 16 949.70 27 2024 2023 July 27, NGUS DEC 17 960.80 24 2024 2023

24

WEDNESDAY AUGUST 9, 2023 •T H I S D AY

T H I S D AY ˾ WEDNESDAY, AUGUST 9, 2023

25

BUSINESSWORLD

PERSPECTIVE

Climate Risk – Response and Attitudes Robert Mbonu

I

n December 2015, 195 nations adopted the Paris Agreement unanimously, and hundreds of millions of people widely recognised it as a historic achievement. Scientists tell us the emission of greenhouse gases is contributing to global warming. That the adverse weather we currently face is a result of this warming, and that things will get significantly worse unless the emissions are brought to zero. The outcome of this meeting sparked a global frenzy of countries taking on net-zero emissions targets by 2050 or before.

Naturally, people have different responses to the unfolding climate situation we face.

Seeing as people, not machines, head businesses and governments, responses are bound to differ.

The human brain is incredibly adaptable to change. With every change, there will be differences in attitudes. Some people are either risk averse, risk seeking, or risk neutral. For some, the risk of climate change is a threat, while for others with the foresight to implement risk management techniques, it presents a world of opportunity. The transition to a carbon-neutral and sustainable future is full of opportunity.

As a risk management consultant, I have been engaged by organisations to design risk frameworks. This involves interviewing the senior management, heads of departments, and directors. The three questions I frequently ask are: 1. What do you think are the biggest threats to this organisation, how big are they and how are they changing?

2. What do you see as the biggest op-

Mbonu

portunities, how big are they and how are they changing?

3. What is stopping the organisation from embracing those opportunities and dealing with the threats?

At one specific consultation, the end of the question session was followed by an examination of the outputs, a review and mapping of over 100 risks, and a write-up of the final report. The mood in the room changed when we presented the top two risks to the Board of Directors. They were outraged.

Questions such as, ‘Who has been

telling you these lies?’ and, ‘How dare you?’ were bandied about.

Quietly, I explained to them that these were their own facts and reality.

You see, their two biggest risks were ones that were so huge they were too difficult to see. A bit like when you live in a polluted city, you don’t see the smog after a while. You stop smelling it and you stop worrying about it. Until you leave the crowded city for the hill-top village or countryside, suddenly the air is fresh. Then when you look down on the city, you see the grey haze over the top – the haze you could never see when you were in it.

For this particular organisation, their two biggest threats were also their two biggest opportunities. The first was that technological advances would make them irrelevant if they did not embrace them and build them into their business plan. The second, and most difficult, was that there was a complete divide between those that believed in the first risk and wanted to move on, and those (mainly the older directors) that only lived in the past, wanted nothing to do with technology, and saw no threat to the organisation in that attitude.

Some months later, I was pleased to see that the organisation in question had embraced the technological opportunities presented to them, whilst preserving the repository of wisdom and knowledge in the older directors. A compromise had been reached once the shouting stopped.

The wealthy may consider that climate risk is something that will only affect those who are poor. The

youth, who make up more than 50% of Nigeria’s population, might believe that it’s the job of the ruling class to do something about climate risk. However, climate risk will affect the rich as well as the poor, the young as well as the old. We are all in it together and we need a common agreement as to the way forward. Like a boat with a hole, we all need to be mending the hole (mitigation) and bailing the water out (adaptation).

Climate risk presents both threats and opportunities. To see the issues clearly and without the smog of our own biases, we need to climb collectively to the top of the mountain and ask ourselves those same three questions that I asked my client. Then we need to act to embrace the opportunities and deal with the threats.

The potential for climate change to impact lives, livelihoods, businesses, and the economy, means the risk is real. Climate action failure has been identified by the World Economic Forum as the risk with the potential to inflict the most damage at a global scale over the next decade.

In a multi tribal and cultural country such as Nigeria, a difference in attitude is not easy to face, nor is it easy to examine our varying opinions up close.

This is not a time for denial, bullying, blame, or walking away. We are all in this together. Face a mutual compromise we must, if we wish to find solutions in mitigating and adapting to climate change, and in doing so, harness the opportunities that present themselves along the way.

This is the third article in this series looking at Climate Change in Nigeria by Robert Mbonu (rcmbonu@gmail.com).

26

WEDNESDAY, AUGUST 9, 2023 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Dissecting FG’s Economic Intervention With the current economic challenges exacerbating hardship in the country, Nume Ekeghe highlights analysts’ opinion on FG’s strategy aimed at alleviating the suffering of the people

R

ecently, President Bola Ahmed Tinubu addressed the nation on the federal government plans to ease the hardship that had been brought on individuals as well as corporates following the removal of fuel subsidies as well as the liberalisation of the foreign exchange market.

The resultant effect of the liberalisation of the foreign exchange market had seen the value of the naira plummet at the official window. This, combined with the removal of fuel subsidy, has led to lots of companies reporting losses in the second quarter of the year. In the first half of the year, 10 major companies recorded foreign exchange loss of N764 billion.

Addressing the nation, Tinubu affirmed that the recent policies of the government had been tough, and had a downside effect on the populace.

According to him, the preceding administration seeing the looming danger for the economy had made no provision in the 2023 Appropriations for subsidy after June this year and the, “removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.”

Tinubu added, “Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled out on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.

“I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.”

Tinunu said, “As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary. Our economy is going through a tough patch and you are being hurt by it.

“The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle.

Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not.

“If there were, I would have taken that route as I came here to help not hurt the people and nation that I love. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.”

INTERVENTION MOVES

In response to the economic hardship, the government said it had made moves to ease the pressures that

We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.

“Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly. This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.

“In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders, ”he stated.

ANALYSTS EXPRESS APPREHENSIONS

corporates were facing in the wake of the policies of the government. This, he added, has been done through several interventions that the government is providing.

But analysts contended that the interventions are similar to the ones that were introduced by the Central Bank of Nigeria (CBN) under the leadership of its suspended governor, Godwin Emefiele.

President Tinubu in his address had noted that the federal government is working closely with states and local governments to implement interventions that will cushion the pains of Nigerians across socio-economic brackets.

He had last month signed four Executive Orders in keeping with his electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment.

These Executive Orders on suspension and deferred commencement of some taxes are expected to provide the necessary buffers and headroom to businesses in the manufacturing sector to continue to thrive and expand.

To strengthen the manufacturing sector, increase its capacity to expand and create good-paying jobs, he said the government is going to spend N75 billion between July 2023 and March 2024.

“Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing

enterprises will be able to access N1 billion credit at 9 per cent per annum with maximum of 60 months repayment for long-term loans and 12 months for working capital.

“Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth.

We are going to energise this very important sector with N125 billion. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.

“Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9 per cent interest per annum and a repayment period of 36 months, “he said.

“To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain. In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices.

However, analysts believe that the interventions may not be enough to cushion the negative impact the government policies are having on the populace.

Chief Executive Officer of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane in his presentation at the Lagos Business School, described the N500 billion palliative announced by President Tinubu on July 31 as an “inadequate dose” that is too little to be effective.

Pointing out that “Nigerians are suffering and angry,” with the misery index at 56.12 per cent and multidimensional poverty at 62.5 per cent, he said, “a material palliative should be at least N10 trillion (5.0 per cent of the GDP),” adding that 10 major companies recorded foreign exchange loss of N764 billion” in the first half of 2023 following the unification of the multiple exchange rates.

He also advised the federal government to carry out, “full implementation of market and institutional reforms, which will lead to sustained economic growth in Nigeria and increased level of investment flows.”

On his part, Head of Ratings at Agusto & Co, Mr. Ayokunle Olubunmi said, “We should wait for the implementation because to me, a lot of them look like more of the same. Don’t forget that one of the main key features of the last Central Bank of Nigeria (CBN) governor is actually the huge amount of intervention funds.

“Giving grants is still more of the same policy.

Unfortunately, the speech is actually not clear on how it would be different from the other ones such as the 100 for 100 policy and others. If the implementation is not different, you would be getting the same results.

“Now every bank is awash with intervention funds and even most corporations would be asking for intervention funds at 9 per cent. And when implementing, they should be careful not to crowd out taking loans from the banks because people are looking for intervention funds. The success of this initiative would be determined by implementation.”

N125bn Grants to SMEs Will Drive Economy, Says ACCI President James Emejo in Abuja The President, Abuja Chamber of Commerce and Industry (ACCI), Dr. Al-Mujtaba Abubakar, has hailed President Bola Tinubu’s plan to energize Small and Medium-sized Enterprises (SMEs) with N125 billion grants

recognising the sector as the driver of economic growth.

Tinubu had said the grant was meant to address the effects of the removal of fuel subsidy on businesses and Nigerians.

Out of the total amount, the federal government will spend N50 billion on Conditional Grants

to one million nano businesses between now and March 2024.

He noted that many businesses have shut down activities and are on the verge of shutting down due to subsidy removal as they keep struggling to meet up obligations.

The ACCI President advised

that all businesses in the country should be registered with the chamber movement as this will allow for effective and transparent distribution of loans and grants while also strengthening the database of business activities across the nation.

He said, “Subsidy in the

87 RSA Holders Receive N3.1bn for Residential Mortgage Financing Ebere Nwoji Both the National Pension Commission (PenCom) and Pension Fund Administrators (PFAs) have made good their promise to kick off disbursement of 25 per cent contributions of RSA holders for mortgage financing as operators said they have approved and delivered into various applicants’ account a total of N3.1 billion as at the

end of July 2023.

The above figure was disbursed to 187 Retirement Savings Account (RSA) holders for assessment of residential mortgage as at the end of July 2023.

PenCom said it has approved the above funds and they have been successfully paid to RSA applicants for mortgage funding.

The Chief Executive Officer Pension Fund Operators Association of Nigeria (PenOP),

Oguche Aguda, disclosed this at the 2023 media conference organised by PenCom in Lagos.

PenOp is the umbrella body of all the licensed Pension Fund Administrative firms in Nigeria.

Aguda stated this while delivering a paper on Improving Accessibility and Service Delivery in RSA Mortgage Financing.”

He delved into the crucial area of mortgage financing, addressing ways to enhance

accessibility and service delivery for eligible retirement Savings Account holders.

He noted that Nigerian housing deficit grew from 7 million in 1991 to 28 million in 2023 leading to overcrowded and obsolete housing infrastructure.

He said with the new mortgage policy of PenCom, RSA holders could acquire their own home with 25 percent of their pension savings.

Confab to Discuss Role of Insurance, Pension in Economic Growth

Ebere Nwoji

Issues bothering on the “Role of Insurance and Pension Sectors in Building Sustainable Economic Growth Under the New Government,” will form the thrust of discussions at the Annual National Conference organised by the Nigerian Association of Insurance and Pension Editors (NAIPE).

This year’s conference which is the 8th in the series will feature eminent speakers from Nigerian business community among whom are Managing Director/ CEO APT Securities and Funds Limited, Mallam Kasim Garba Kurdish who will deliver the key note address.

NAIPE also selected prominent thought-leaders and astute

professionals in the Insurance and Pension industries to serve as lead panelists at the conference.

Among the panelists are Mr Eddie Efekoha, President of West African Insurance Companies Association (WAICA)/Group Managing Director, Consolidated Hallmark Insurance (CHI); Olumide Oyetan, President of Pension Fund Operators Association of Nigeria, (PenOp); Mr Shola

Tinubu, Managing Director/CEO of Scib Insurance Brokers and Ms Prisca Gbemisola Soares, former Secretary General African Insurance Organisation (AIO).

Others are Mr Samuel Banji Abolarin, Managing Director/CEO, NLPC; Dave Uduanu, Managing Director/CEO, Access Pension and Mr Wale Odutola, Managing Director/CEO, ARM Pension.

conversion of fossil fuel tanks to CNG gas for vehicles should be hastened as it will further deepen the National Gas Expansion Programme (NGEP) implementation and push for the government to reduce carbon emissions.”

He expressed confidence in the present administration to turn the tide of the economy from consumption to production through pro-business policies that will enhance the business community and attract foreign direct investment.

Odetola Hinges Successful Financial Inclusion in Nigeria on Collaboration Ebere Nwoji The Chief Executive Officer of aYo Nigeria, a subsidiary of aYo Holdings, Africa’s emerging microinsurance fintech, Kayode Odetola, has said that collaboration was critical to deepening financial inclusion in Nigeria.

He made this assertion during a panel session on ‘Nigerian Fintech so Far: Assessing Trends, Opportunities & Obstacles’ at the second edition of the Nigeria Fintech Forum, held in Lagos.

The forum has the theme, “Reimagining the Future of Financial Inclusion in Nigeria: Examining the Role of Banks, Telcos and Fintechs.”

Odetola, who emphasised the significance of leveraging technology to empower marginalised communities and bridge the insurance gap in Nigeria, stressed that exploring

innovative solutions backed by technology could give birth to growth required in bridging the financial inclusion gap especially as about 40 percent of Africans remain unbanked.

He highlighted aYo Nigeria’s vision, in partnership with Sanlam, as to empower underserved and vulnerable communities by providing access to a range of tailored insurance products that meet their specific needs.

“Bespoke financial and insurance solutions can become the enabler for underserved communities in our quest to achieve financial inclusion.

With this understanding, we partnered with Sanlam to launch a Recharge with Care product that enables Nigerians to purchase Life and Hospitalisation cover for as low as N125 per month.

27

WEDNESDAY, AUGUST 9, 2023 • T H I S D AY

MARKET NEWS A Mutual fund (UnitTrust) 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 InvestmentTrust) 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 04-Aug-2023, 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 257.42 258.57 36.03% Afrinvest Plutus Fund 100.00 100.00 5.99% Nigeria International Debt Fund 332.69 332.69 11.12% Afrinvest Dollar Fund 107.64 108.74 3.95% 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 11.77% AIICO Balanced Fund 4.43 4.51 30.29% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.02% Anchoria Equity Fund 186.85 189.24 28.91% Anchoria Fixed Income Fund 1.30 1.30 5.85% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 28.81 29.67 31.27% ARM Discovery Balanced Fund 629.94 648.94 20.86% ARM Ethical Fund 49.23 50.71 9.12% ARM Eurobond Fund ($) 1.15 1.15 1.98% ARM Fixed Income Fund 1.13 1.13 2.42% ARM Money Market Fund 1.00 1.00 8.86% ARM Short Term Bond Fund 1.04 1.04 0.08% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 100.47 100.47 10.57% AVA GAM Fixed Income Naira Fund 1,130.11 1,130.11 5.49% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 173.04 174.25 28.28% AXA Mansard Money Market Fund 1.00 1.00 8.93% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 5.09% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.55% Paramount Equity Fund 24.15 24.67 41.85% Women's Investment Fund 192.45 195.86 27.71% CHD Nigeria Bond Fund 98.61 98.61 12.10% CHD Nigeria Dollar Income Fund 1.00 1.00 12.10% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.42% Cordros Milestone Fund 154.16 155.29 20.43% Cordros Fixed Income Fund 107.13 107.13 9.83% Cordros Halal Fixed Income Fund 104.50 104.50 5.88% Cordros Dollar Fund ($) 112.57 112.57 7.33% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 8.52% Coronation Money Market Fund 1.43 1.45 25.67% Coronation Balanced Fund 1.40 1.40 3.19% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.39% Emerging Africa Bond Fund 1.07 1.07 10.84% Emerging Africa Balanced Diversity Fund 1.26 1.26 38.47% Emerging Africa Eurobond Fund 104.85 104.85 5.49% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1575.64 1575.64 11.74% FBN Balanced Fund 256.08 258.48 28.24% FBN Halal Fund 132.00 132.00 13.27% FBN Money Market Fund 100.00 100.00 10.11% FBN Dollar Fund 124.94 124.94 7.19% FBN Smart Beta Equity Fund 235.36 238.42 42.12% FBN Specialized Dollar Fund 110.41 110.41 9.13% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.63% Legacy Debt Fund 3.52 3.52 -1.48% Legacy Equity Fund 2.63 2.68 31.45% Legacy USD Bond Fund 1.30 1.30 3.29% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 5,151.24 5,185.99 37.36% Coral Income Fund 3,883.25 3,883.25 7.68% Coral Money Market Fund 100.00 100.00 8.04% FSDH Dollar Fund 1.17 1.17 6.14%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 16.03 16.14 38.36% Meristem Money Market Fund 10.00 10.00 10.70% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.64 102.64 10.15% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.95% Norrenberger Dollar Fund (NDF) ($) 102.29 102.29 10.67% 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 1.99 2.05 27.18% PACAM Fixed Income Fund 11.86 12.22 7.60% PACAM Money Market Fund 10.00 10.00 10.88% PACAM Equity Fund 2.11 2.15 49.07% PACAM EuroBond Fund 127.92 131.80 15.20% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund 160.51 165.09 27.68% 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 1.07 1.07 10.30% 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 4,597.04 4,634.81 35.62% Stanbic IBTC Bond Fund 252.47 252.47 7.17% Stanbic IBTC Ethical Fund 1.93 1.95 53.97% Stanbic IBTC Guaranteed Investment Fund 344.01 344.01 9.86% Stanbic IBTC Iman Fund 347.26 351.02 48.59% Stanbic IBTC Money Market Fund 1.00 1.00 9.78% Stanbic IBTC Nigerian Equity Fund 16,534.00 16,727.96 51.40% Stanbic IBTC Dollar Fund (USD) 1.42 1.42 10.12% Stanbic IBTC Shariah Fixed Income Fund 125.22 125.22 7.11% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 121.33 121.33 14.06% Stanbic IBTC Absolute Fund 4,820.37 4,820.37 13.31% Stanbic IBTC Aggressive Fund 4,695.89 4,754.00 68.89% Stanbic IBTC Conservative Fund 4,993.54 5,018.52 31.25% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.25 1.27 37.21% United Capital Balanced Fund 1.74 1.75 34.02% United Capital Wealth for Women Fund 1.35 1.36 25.84% United Capital Sukuk Fund 1.13 1.13 11.92% United Capital Fixed Income Fund 1.90 1.90 6.94% United Capital Eurobond Fund 121.70 121.70 5.76% United Capital Global Fixed Income Fund 1.05 1.05 8.72% United Capital Money Market Fund 1.00 1.00 9.05% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/A N/A N/A Zenith ESG Impact Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A Vetiva Money Market Fund N/A N/A N/A Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A

REITS NAV Per Share

Yield / T-Rtn

121.32 54.90 101.29 10.08

6.61% 3.55% -11.73%

Bid Price

Offer Price

Yield / T-Rtn

20.68 93.50 230.00 17.40 16.40

20.78 93.50 230.00 17.50 16.50

33.54% -27.36% 128.06% 38.44% 60.07%

NAV Per Share

Yield / T-Rtn

108.39

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

I N F R AST R U CT U R E F U N D 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.

28

T H I S D AY ˾ WEDNESDAY, AUGUST 9, 2023

FOCUS Asse ssi n g Zenith Bank’s Unbroken Chain of Successes Oluchi Chibuzor

I

n continuation of its winning streak, Zenith Bank Plc few days ago received double honours at the London Stock Exchange (LSE) as the bank was named the Best Commercial Bank in Nigeria for the third year running and Best Corporate Governance Bank, Nigeria, for a second consecutive year at the World Finance Awards 2023.

The awards were the outcomes of the inspirational leadership the bank has enjoyed under its Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu.

Since assuming the Zenith Bank’s mantle of leader on June 1, 2019, Onyeagwu has inspired it to win several awards. The CEO is committed to Zenith Bank’s vision that promotes re-engineering and innovation.

Indeed, these numerous awards have strengthened the Zenith Bank brand and continue to place the bank far above its peers in the industry.

The awards at the LSE were presented to Onyeagwu, at London. The recognitions celebrated the bank’s tremendous feats and milestones in financial performance, financial inclusion, corporate governance, and sustainability, according to a statement yesterday.

Commenting on the awards, Onyeagwu said: “These awards are a testament to our resilience and ability to adapt to the vagaries of the market as well as our innate capability to engender very stellar business performances through our innovative products and solutions. It also affirms our continued commitment to global best practices in corporate governance, sustainability and corporate social responsibility.”

Onyeagwu, dedicated the awards to the Founder and Group Chairman, Jim Ovia, CFR, and thanked him for his mentorship and for establishing the basis for a resilient and highly successful institution.

He also expressed gratitude to the board for their exceptional leadership, vision, and insight; to the staff for their unwavering commitment and dedication; and to the bank’s customers for making Zenith their preferred bank.

World Finance is a foremost international magazine providing extensive coverage and analysis of the financial industry, international business, and the global economy.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest honours coming on the heels of several recognitions, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best in Corporate Governance’ Financial Services’ Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021 and Retail Bank of the Year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion

Onyeagwu

Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021

by SERAS Awards.

The bank has also retained its ranking as the number one bank in Nigeria by tier-1 capital in the 2023 Top 1000 World Banks’ Rankings, published by The Banker Magazine. For the fourteenth year in a row, the bank has held its position as the number one Tier-1 bank in Nigeria, emerging as the 467th Bank globally with a Tier-1 Capital of $2.54 billion.

The rankings, published in the July 2023 edition of The Banker Magazine of the Financial Times Group, United Kingdom, were based on the 2022 year-end Tier-1 capital of banks globally.

The rankings continued to be the primary source for global bank financials and are used by most international organisations in their assessments of banks.

Zenith Bank’s financial performance for the year was bolstered by an impressive double-digit growth of 24 per cent in gross earnings, leading to an improved market share in both the retail and corporate segments of the market. This occurred despite a persistently challenging macroeconomic environment and headwinds. This also attested to the resilience of the financial

institution despite a very challenging macroeconomic environment and global headwinds.

In addition, it was also an affirmation of Zenith Bank under the leadership of Onyeagwu, best-in-class service and commitment to value creation for its customers.

Zenith Bank became one of the latest companies to join the exclusive group of stocks worth over one trillion, as its market capitalisation on the Nigerian Exchange (NGX) crossed the N1 trillion mark in the third week of June 2023.

Zenith Bank blazes the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.

The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking.

Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’

“With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cuttingedge solutions and products through its network of branches and electronic/digital channels.”

expectations; enable businesses to thrive and grow wealth for customers.

With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels.

Zenith Bank has clearly distinguished itself in the banking industry through superior service quality, unique customer experience, and sound financial indices. These have become part of the bank’s corporate culture to the extent the bank is easily associated with the following attributes: Best-in-class customer experience, creativity, excellent financial performance, good asset quality, stable management, dedicated and highly skilled work-force, cutting-edge Information and Communication Technology, efficient and effective distribution channels.

The bank’s strategy of assessing and managing its impact on the industry forms an integral part of its strategic objective.

Specifically, the bank considers how the present and future capital requirements will be met and managed in view of projected capital requirements based on its assessment and against the regulatory capital requirement.

The strategic objective of Zenith Bank also includes a continuous improvement of its capacity to meet customers’ increasing and dynamic financial needs as well as sustain high quality growth through investments that impact the quality of service to its existing and potential customers, constant upgrade of its ICT infrastructure, unwavering investment in training and re-training of its people and regular reinforcing of its customer services delivery charter with regards to continually changing customer needs.

Zenith Bank places high premium on the pivotal role of exceptional service delivery in its drive to consistently exceed expectations. The bank has in place a well-articulated strategy to not only meet and surpass customer expectation but also ensure that plans are fine-tuned to address the changing taste and sophistication of the customer.

Zenith Bank under Onyeagwu’s watch has remained committed to sustaining the legacy of its visionary Founder and Chairman, Ovia, whose pioneering and foundational role in building the structures and laying the foundation ensured an enduring and very successful institution.

In recognition of his sterling contribution towards ensuring the stability of Zenith Bank, Onyeagwu was recently conferred with a doctorate by the University of Nigeria, Nsukka (UNN).

Onyeagwu is a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Nigerian Institute of Management (NIM), The Chartered Institute of Bankers of Nigeria (CIBN), the Institute of Credit Administrators (ICA) and Senior Associate Member, Risk Management Institute of Nigeria (RIMAN).

Onyeagwu is the Chairman of the Body of Banks’ Chief Executive Officers, Nigeria and Chairman of Zenith Pensions Custodian Limited and Zenith Nominees Limited.

He is also on the Board of Zenith Bank (UK) Limited, FMDQ Holdings Plc and Lagos State Security Trust Fund (LSSTF).

Onyeagwu is a member of the International Monetary Conference (IMC), the Wall Street Journal CEO Council, member of the African Trade Gateway Advisory Council of the Africa Export-Import Bank (Afreximbank), and member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN).

With the right leader at the helm of affairs at the bank as well as with its dedicated workforce and right guidance from Ovia, it is expected that Zenith Bank would continue to enjoy positive recognition and maintain its winning streak.

T H I S D AY ˾ ͷ˜ 2023

29

IMAGES

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Head of Boston Consulting Group, West Africa, Mr. Tolu Oyekan; Chairman, Bankly Microfinance Bank (MFB), Mrs. Isioma Lawal; Co-founder/Chief Executive Officer, Bankly MFB, Tomilola Majekodunmi; Partner, McKinsey, Mrs. Topsy Kola Oyeneyin; and Data Partnerships Lead, Metamap, Mr. Ayodeji Amund, at the launch of Bankly Microfinance Bank in Lagos…recently

L-R: Osun State Commissioner for Commerce and Industry, Bunmi Jenyo; Director-General, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Olawale Fasanya; Chief of Staff to Osun State Governor, Kazeem Akinleye; and Senate Deputy Minority Leader, Lere Oyewumi, during a visit to SMEDAN office in Abuja...recently

L-R: Chief Executive Officer, Mac-Folly Hospitality, Mr. Chike Ogeah; celebrant, Chief Greg Uanseru; Chairman/ Editor-in-Chief, THISDAY and Arise News, Prince Nduka Obaigbena; Deputy Group CEO, Oando Plc, Mr. Mofe Boyo; and Co-founder, Access Bank Plc/Founder, Wigwe University, Isiokpo, Rivers State, Dr. Herbert Wigwe, at Chief Greg Uanseru’s 65th birthday celebration in Lagos…recently

L-R: Chairman, Board of Trustees (BoT), Maduka University, Ekwegbe-Nsukka, Enugu State, Senator Daggash Sanusi; guests, Chief Uzoma Ekpecham and Mr. Charles Ndiomu, during the Chief Greg Uanseru’s 65th birthday celebration in Lagos…recently

L-R: High Commissioner of the United Republic of Tanzania to Nigeria, Benson Bana; President, Association of Public Procurement Practitioners of Nigeria (APPON), Mr. Emem James Kanico; Director of Procurement, CRDB Bank Plc Tanzania, Mr. Pendason Philemon; Procurement Manager, CRDB Bank Plc, Imani Mhagama; Special Guest, Jeneveva Bwanakunu; and Head of Corporate Social Investment, CRDB Bank Plc, Mr. Jadi Ngwale, at the presentation of Excellence in Procurement Innovation Banking Award to CRDB Bank Plc, during the fifth Africa Procurement and Supply Chain Live and Awards in Lagos…recently PHOTO: ETOP UKUTT

Celebrant/Founder and Chief Executive Officer of GCA Energy, Chief Greg Uanseru (middle) with officiating priests, family members, and the 2023 general election Labour Party (LP), presidential candidate, Mr. Peter Obi (second left); and his wife, Mrs. Margaret Obi (left), during Uanseru’s 65th birthday celebration in Lagos…recently

30

WEDNESDAY AUGUST 9, 2023 •T H I S D AY

31

T H I S D AY ˾ WEDNESDAY AUGUST 9, 2023

PROPERTY & ENVIRONMENT Elevator Crash: AFMPN Urges Managers to Inspect Facilities Regularly Bennett Oghifo The Association of Facilities Management Practitioners, Nigeria (AFMPN) has expressed deep sadeness following the tragic death of Dr. Vwaere Diaso when an elevator crashed at a Lagos Hospital, advising facility managers to be proactive and conduct regular inspection of their facilities.

A statement signed by the President of AFMPN, Paul

Erubami, said, “In the wake of this tragedy, AFMPN would like to encourage facility managers to take a proactive approach to the general safety in all our facilities and take adequate and timely maintenance activities very seriously. AFMPN is committed to working with facility managers across the nation to prioritise and ensure the safety of facility users in our built environment.

This includes conducting regular inspections, training staff on

safety procedures and installing emergency stop buttons and other safety features.

“AFMPN stands ready to support and assist the authority during this difficult time and offer our expertise and resources to help in implementing enhanced safety measures. Our goal is to foster a collaborative environment where professionals can share best practices and collectively work towards the prevention of such tragic

incidents.

“May the memory of Dr. Vwaere Diaso in this unfortunate accident serve as a poignant reminder of the importance of maintaining the highest safety standards in our healthcare facilities, in particular, and our built environment in general.

“In light of this incident, AFMPN encourages all healthcare facilities across the country and their management teams to remain vigilant in their

commitment to ensuring safe operations of all critical systems in their facilities.

“The safety and well-being of all individuals within healthcare facilities are of utmost importance to us. As a leading facility management organisation, AFMPN is dedicated to promoting best practices in facility management. We are committed to offering our advisory, supportive and empathetic guidance.

“We offer our sincere condolences to her entire family, friends and colleagues.”

The Association of Facilities Management Practitioners, Nigeria (AFMPN) is a professional association dedicated to advancing the practice of facility management in Nigeria and across Africa. AFMPN provides education, training, and resources to help facility managers improve the performance of their facilities.

How Black Qoral Concepts is Transforming Ikeja Police Officers Quarters Bennett Oghifo In the heart of Nigeria’s economic centre, where the symphony of car horns and bustling activities of its vibrant population converge to mark an urban setting, once stood edifices that housed gallant members of the Nigeria Police devoted to protecting the people.

Over the years, with little maintenance to guarantee its

longevity, the once resplendent structures of the Police Officers Quarters in Ikeja now carry scars of neglect; the paint peeling, and the rooftops sagging under their weight, with cracks running like veins across the walls. This deplorable state isn’t specific to the Ikeja barracks. It is only a representation of the general living condition in many police barracks across the country.

However, this is changing, one block of flats at a time. The pointer came with a recent facelift received with the commissioning of two modern buildings nestling 20 flats that were conceptualised and executed by Black Qoral Concepts Limited, an indigenous real estate development firm.

The project was seeded when the Executive Director, Black Qoral, Abubakar Sheidu

L-R: Permanent Secretary, Ministry of Police Affairs, Mr. Abel Enitan;Chief Executive Officer, Black Qoral Concepts Limited, Mr. Abdul Rasheed Kayode Sheidu; Assistant Inspector General of Police, (Works) Police Headquarters Abuja, Mr. Rudolf Echebi Obe; and Director, Black Qoral Concepts Limited, Mr. Abubakar Sheidu; during the inspection tour of redevelopment of Senior Police Officer quarters in Ikeja GRA, Lagos recently PHOTO: ETOP UKUT

approached and engaged the Nigeria Police Force in 2018 for the sole purpose of redeveloping the police settlement to reflect the status of the officers posted to the quarters, but more importantly, to provide safer and more functional homes.

As of January 27, 2021, 10 officers and their dependents were relocated from the worsthit buildings to the new site, marking the start of the transition from the old, decrepit buildings.

“There’s a bit of nostalgia involved. Our late father Ahmadu Sheidu used to be a police officer, and at one point, the Lagos State Police Commissioner, and at one point Commandant, Police College Ikeja,” Sheidu explained.

“We used to visit here then, about 30-plus years ago. We observed that the houses were falling, so we made a proposition to the police to redevelop the 66 flats they had into 80 new modern flats befitting of senior police officers, which is what this place is supposed to be. People who are supposed to reside here are originally supposed to be Assistant Commissioners of Police and above. As we speak, in these quarters, there are seven

Deputy Commissioners of Police, and almost half of the DPOs in Lagos, and area commanders live here.”

With plans to enclose the police barracks with an 11 feet perimeter fence, Sheidu says the blocks of flats will be fitted with recreational facilities, and guarantee exclusivity through the provision of exit and entry points. He also hinted at the reformed approaches that would be taken up by the Nigerian Police Force to ensure that prospective and existing blocks of flats are maintained.

“Under the new regime, the works department of the Nigeria Police Force now, under this current IG, set up a maintenance department, and it is headed

by AIG Rudolph Obe, to take cognizance of the fact that every redevelopment they have of the police barracks in Nigeria, they assemble and assigned to them a maintenance team to be in situ.

“Police-civilian relations are difficult, which means, we cannot bring our independent facility managers and say that they should manage the place. How are they going to, for instance, ask them to pay a service charge? In the event

they don’t pay a service charge, how are they going to enforce it against police officers? So, it is required that for police facilities, facility management should be done by police officers because those are the ones who can then come up with things like deterrence, come up with extension for those who don’t pay and things like that, which we cannot do.”

Having built the first apartment in just under one year, the project suffered a series of delays in the course of redevelopment.

Delays Sheidu termed ‘bureaucratic in nature’. He elaborated that the agreement Black Qoral entered with the Nigeria Police Force was not foolproof initially.

“I know for a fact that one cannot alienate government property without the Federal Executive Council’s (FEC) approval. So, we commenced the process with the Infrastructure Concession Regulatory Commission (ICRC) before eventually it went to FEC, and we got the approval. We slowed down a bit on the work because we were investing our funds. We do not have any loans that we took, so we didn’t have any clock ticking against us for repayment.

Legrande Provides Flexible Payment for Homes in Alexandra Courts Coastal City Fadekemi Ajakaiye Legrande Properties Development Company Limited, developers of the Alexandra Courts Coastal City, Ibeju Lekki, Lagos, are providing flexible payment plans for their prospective home buyers.

Managing Director, Legrande Properties Development Company Limited, Deacon Babajide Durojaiye stated this while discussing work done so far at the Alexandra Courts Coastal

City, Ibeju Lekki, Lagos with members of the Property & Environment Writers Association of Nigeria (PEWAN) in Lagos, recently.

According to him, The Alexandra Courts Coastal City, Ibeju-Lekki Lagos is a Public Private Partnership (PPP) with the Lagos State Government and Federal Mortgage Bank (FMBN).

Loans of up to N15 million are available to offtakers who are contributors to the National Housing Fund Scheme.

The estate is located in the New Town Development Hub of the Lekki Peninsular called ‘‘The New Lagos’’.

He said, “The estate is a mixed development of 2-bedroom and 3- bedroom flats tastefully designed to provide utmost comfort to our end users. It is enriched with economic, residential and commercial value because of its closeness to the New Lekki Deep Seaport, the Dangote Refinery, the Lagos Free Trade Zone, the New Lekki Airport

and the Alaro industrial City.

“The estate also comes with infrastructural facilities that include: 24 hours electricity (PHCN Power supply and Solar Inverter Systems); 24 hours Security (Mobile Police and Civil Security); 24 hours central internet connection, Swimming Pool, Central Park and Playground Gym and other recreational sports area; Central sewage system, including sewage treatment plant and water treatment plant, Central Mall, Health

Center, among others.”

It is equipped with over 5,000 quality housing units of 2- and 3-bedroom flats, including semi-detached and fully-detached duplexes, complete with requisite infrastructures.

“Payment is broken down into milestones and we have different packages for different subscribers. Outright purchase, which includes payment of the entire purchase price at the beginning of the transaction. Milestone

Payment without the usage of NHF, which includes: A. 30% of the purchase price to be paid within seven days upon acceptance of the offer letter. B. 30%upon completion of the first-floor slab.

C. 20% upon completion of the third-floor slab. D. 10% upon commencement of internal finishes. E. 10% upon completion but before handing over of the units.

Note: The above payment milestone is for 12 months only.

LIFECARD International Plans 1000 Housing-unit Project Fadekemi Ajakaiye Lifecard International, under the visionary leadership of its founder Grace Ofure Ibhakhomu, is embarking on a groundbreaking venture – a 1000-unit off-plan housing project.

From research, the lifecard company has discovered that off-plan property purchases have reduced drastically, even though it is the best purchase strategy for investors.

From questionnaires randomly collected from property

investors and buyers, it shows that investors are skeptical about off-plan purchase due to delays in construction, abandoned projects, changes in property specifications, unforeseen market fluctuations, lack of transparency and integrity from real estate developers among the common pitfalls.

These uncertainties associated with these investments have made many millennials and investors have reservations in taking the leap towards purchase of off-plan properties.

However, Lifecard Inter-

national is turning the tide and changing the narrative in favor of the investors.

Under Grace Ofure Ibhakhomu’s strategic guidance, Lifecard International has systematically addressed these challenges, becoming the first Nigerian real estate company to offer a Reserve Slot System This System is solving the problem of traditional off-plan property purchase and paves the way for a new era of homeownership and investment opportunities through a book and pay on

delivery.

This system provides buyers with tangible evidence of the products they are investing in, minimising the risk of unexpected surprises.

Moreover, the transparent and open communication channels maintained by the company are geared towards instilling confidence in investors, knowing that their interests are prioritised, and they are duly updated throughout the entire process.

Grace Ofure Ibhakhomu recognises the importance

of supporting the dreams and aspirations of investors and millennial generation in property purchase and this gave birth to the Reserve Slot System.

With this System by lifecard , a more diverse pool of individuals can partake in property investment and can thereafter go to sleep with both eyes closed, thereby creating wealth and homeownership to a wider audience.

This is set to create a lasting impact on the real estate landscape. Lifecard International

is, undoubtedly, a beacon of progress and empowerment in the housing sector.

Ibhakhomu

32

T H I S D AY WEDNESDAY, AUGUST 9, 2023

BUSINESS/MONEYGUIDE

Yakusak: Cost of Credit, Others Bane of Non-oil Export Trade James Emejo ËØÎ Aisha Kabiru ÓØ ÌßÔË The Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, has blamed the continued lack of access to bank financial services by exporters as one of the major challenges stifling the smooth growth of the country’s non-oil export.

He said the sector was particularly constrained by the high-interest rates regime and low disbursement of credit facilities to finance the non-oil export trade.

Speaking at the opening of a capacity-building programme for bankers in bankers, the NEPC boss said the situation has ultimately affected the nation’s non-oil export performance as most exporters lack the financial muscle required to set up modern

export-related industries and ensure the production of high-quality products.

He said, “We are not oblivious of the fact that an in-depth knowledge of export procedures and documentation and effective management of export logistics is an invaluable asset in developing long-term business relationships with foreign buyers which may increase the likelihood of repeat export contracts and referrals.

“In regard, the NEPC as a responsible and responsive agency has identified capacity building as a priority for relevant stakeholders in the non-oil export value chain.

“This is deliberate and strategic because we believe that when key stakeholders like bankers, are equipped with the necessary export knowledge and expertise, they would work more efficiently to complement

each other towards the promotion of export business in the country.”

Yakusak, however, commended some financial institutions for their continuous support to non-oil export businesses in the country, and solicited increased support, through the creation of export tailored financial structure that offers greater flexibility.

He said when provided with the needed resources and support, exporters, especially SMEs will be able to increase their capacity to export and diversify their export baskets.

He added that the training organized by the NEPC marked a significant milestone in its continuous effort at strengthening collaboration in promoting export competitiveness to achieve the economic diversification agenda of the federal government.

MARKET INDICATORS

NDIC Engages Plateau Students on Financial Literacy Seriki AdinoyÓ ÓØ ÙÝ In a proactive effort and as part of its corporate social responsibility, the Nigeria Deposit Insurance Corporation (NDIC) has conducted a financial literacy program for secondary school students in Plateau State.

The exercise aimed to encourage students to develop a mindset of saving and was carried out as part of the celebration of 2023 Financial

Literacy Day. The event was held at the Jos-north NDIC area office hall with students from various secondary schools in attendance. The theme of this fourth edition of the training was, “Plan Your Money, Plant Your Future.”

In an address to the students, the Deputy Manager and Media Relations Officer of NDIC, Mr. Alfred Ijah explained that the cooperation has been actively educating students

about the value of efficient savings and money management. This, he said, is geared towards promoting financial prudence, proper budgeting habits, and sound monetary decisions among the students. Ijah advised the students to maximize their grasp of financial worth, the ability to make choices, investment planning, and spending priorities, among other financial aspects.

EMY Organisers Make Case for African Heroes The organisers of EMY Africa Awards, has stressed the need to celebrate great achievers and heroes of the society for the purpose of continental and national development.

Founder of the award, Mr. Kojo Soboh while speaking ahead of the 8th edition of the award at a press conference in Lagos, recently explained that recognition of achievements and impacts have proven to be a source of inspiration to the despair and delinquents

in the society.

Besides, Soboh remarked that celebrating exploits can always be relied on to inspire much more better performance from the celebrated, while giving room for growth.

He said that apart from the proper EMY award holding in Lagos by October, the organisers are equally hosting a soiree to further celebrate past Nigerian EMY awardees and present nominees which included popular actors, Tobi

Bakre and Chidi Mokeme.

“EMY Africa Awards is the catalyst that inspires greatness in all of us. We celebrate greatness to inspire greatness. Representation matters when we celebrate successful Africans. It is more relatable and gives youths the permission to dream, dare and do. The awards and its complementary events have been carefully designed to celebrate great achievements to inspire greatness in the youth’’, he said.

TGI Introduces Big Bull Gold in Consumer-Friendly Packs In a move to cater to the evolving needs of consumers, TGI Group, makers of Big Bull Rice have introduced Big Bull Gold, a premium milled parboiled rice in consumer-friendly pack sizes.

Chief Marketing Officer, TGI Group, Probal Bhattacharya, stated that the introduction of Big Bull Gold in consumerfriendly packaging reflects how the company always strives to stay ahead of the curve and

anticipate the changing needs of its valued consumers.

“We are delighted to introduce Big Bull Gold in new consumer-friendly packaging.

This reflects our commitment to offering the best to our customers. With premium quality at the forefront, our goal is not only to deliver top-quality rice but also an exceptional consumer experience,” he noted.

Executive Director, TGI

Group, Deepanjan Roy, said the company has always prioritized quality and customer satisfaction.

“With the introduction of Big Bull Gold in consumerfriendly packaging, we are taking it a step further by offering premium quality parboiled rice in packaging that is both visually appealing and consumer friendly. It is our way of enhancing the overall rice consumption experience for our valued consumers,” he said.

NBC Bags Three APSCA Awards Leading consumer packaged goods company, Nigerian Bottling Company (NBC) Ltd, has been recognized for its efforts in driving best practices across its operations, at this year’s edition of the Africa Procurement & Supply Chain Awards (APSCA) organised by InstinctWave.

The awards ceremony, which was held recently at the Oriental Hotel in Lagos on Friday, July 28th, saw NBC receive awards

across three key categories that reflects its commitment to building resilient supply chains and promoting operational excellence in Nigeria.

The APSCA annual award ceremony is aimed at celebrating outstanding organisations that exemplify excellence in Supply Chain Management throughout the continent and is widely recognized for its commendation of innovation, ethics, and progress

in the procurement industry.

NBC’s Procurement Director, Omobonike Oketunji was recognized as one of Africa’s top 20 Women in Procurement & Supply Chain while Misan Ilesanmi Idehen, Head of NBC’s Supply Chain Academy bagged the Gender Equality in Supply Chain award for her exceptional expertise and contribution to women growth and development in the industry.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) MARCH 2023 Money Supply (M3)

54,634,063.50

-- CBN Bills Held by Money Holding Sectors

442,402.18

Money Supply (M2)

54,191,661.32

-- Quasi Money

32,839,133.46

-- Narrow Money (M1)

21,352,527.87

---- Currency Outside Banks

1,445,439.42

---- Demand Deposits

119,907,088.45

Net Foreign Assets (NFA)

5,992,904.55

Net Domestic Assets(NDA)

48,641,158.95

-- Net Domestic Credit (NDC)

70,596,115.20

---- Credit to Government (Net)

27,529,720.19

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

43,066,395.01

--Other Assets Net

11,123,812.79

Reserve Money (Base Money

15,975,739.59

--Currency in Circulation

1,683,498.35

--Banks Reserves --Special Intervention Reserves

14,292,241.24 419,889.49

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

April 2023

Inter-Bank Call Rate

15.80

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

18.00

Treasury Bill Rate

5.73

Savings Deposit Rate

4.59

1 Month Deposit Rate

7.32

3 Months Deposit Rate

7.92

6 Months Deposit Rate

9.84

12 Months Deposit Rate

8.18

Prime Lending rate

14.05

Maximum Lending Rate

28.59

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 17 JULY, 2023

The price of OPEC basket of thirteen crudes stood at $82.06 a barrel on Friday, compared with $81.53 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ AY, AUGUST 9, 2023

33

MARKET NEWS

Stock Market Decline by N15bn to Maintain Downward Trend Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday declined

by N15 billion, maintaining downward trend over investors profit-taking in Geregu Power Plc and 23 others.

The NGX All-Share Index (ASI) depreciated by 27.06 basis points or 0.04 per cent to

close at 65,309.65 basis points.

Following the drop in NGX ASI, the market capitalisation declined by N15 billion to close at N35.540 trillion.

As measured by market breadth, market sentiment was positive, as 29 stocks gained relative to 24 losers.

Guinness Nigeria emerged the highest price gainer of 10 per cent to close at N60.50,

P R I C E S MAIN BOARD

F O R DEALS

per share. GlaxoSmithKline Consumer Nigeria followed with a gain of 9.74 per cent to close at N10.70, while Chellaram rose by 9.73 per cent to close at N3.72, per share.

The Initiates Plc increased by 9.72 per cent to close at 79 kobo, while Universal Insurance added 9.09 per cent to close at 24 kobo, per share. On the other side, Secure

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

Electronic Technology led the losers’ chart with 10 per cent to close at 27 kobo, per share.

Northern Nigeria Flour Mills (NNFM) followed with a decline of 9.89 per cent to close at N12.30, while John Holt shed 9.52 per cent to close at N1.33, per share.

Tantalizer declined by 8.33 per cent to close at 33 kobo, while Mutual Benefits

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

Assurance dipped by 7.69 per cent to close at 48 kobo, per share.

The total volume traded declined by 4.97 per cent to 317.808 million units, valued at N4.472 billion, and exchanged in 6,376 deals. Transactions in the shares of Access Holdings led the activity with 49.355 million shares worth N861.161 million. Sterling Financial

Holdings Company followed with account of 43.823 million shares valued at N153.937 million, while Universal Insurance traded 28.864 million shares valued at N6.897 million.

FCMB Group traded 18.126 million shares worth N112.162 million, while FBN Holdings (FBNH) traded 14.302 million shares worth N261.734 million.

AU G U ST / 8 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

T H I S D AY ˾ DAY AUGUST 9, 2023

EDUCATION Cambridge Exam: How Hard Work, Resilience Spurred Chrisland Students Success Following their outstanding performance in the 2022 Cambridge IGCSE and Cambridge AS Level Examinations, Mmesomachukwu Okonkwo of Chrisland High School VGC, who got the ‘Top in the World’ award and Oluwabukolami Adeyemi of Chrisland Pre-degree College, Lagos, who got the highest mark in the world in the Cambridge International AS, told journalists including Funmi Ogundare how their resilience and hard work paved way for their success

M

mesomachukwu Okonkwo of Chrisland High School VGC and Oluwabukolami Adeyemi, 18, of Chrisland Pre Degree College Lagos, recently made their school and parents proud with their outstanding performance in the 2022 Cambridge IGCSE and Cambridge AS Level Examinations, conducted in more than 145 countries worldwide.

They received the British Council Outstanding Cambridge Learner ’s Award. Having gained the highest mark in English as a second language (speaking endorsement) in IGSCE, Okonkwo got the Top in the World award, while Adeyemi, who gained the highest mark in the world in the Cambridge International AS Level Law, got the ‘Top in the World’ award, as well as the ‘High Achievement’ award for Cambridge AS Level Psychology.

For Adeyemi, who wrote the Cambridge International AS levels Law exam, commonly known as Cambridge A levels, preparing for it didn’t come easy as she had to be in school when other students were on holiday to study.

“Prior to doing that exam, I had never done any other Cambridge exam, so it was quite strange to me when I started preparing for it, but I had support from my teachers and principal, Dr. Agomoh, and my parents. With ‘A’ levels, there is a lot of independent study that has to be done, so I had to start preparing ahead for the exam that was coming up in October,” stated Adeyemi.

She added, “So throughout July and August, I was in school preparing for exams. I had to do past questions, analyse the Maths scheme and read a lot of textbooks. I did a lot of hard work and sacrifice as I couldn’t do a lot of what I was doing when everyone

Mmesomachukwu Okonkwo

was on holiday, but I think everything just worked together for my good.”

The Kogi State-born Adeyemi stated that the ‘A’ level would give her direct entry into the university in the UK, having secured admission to study Law. “The next big thing is for me to take the opportunity of the admission I have gotten and resume school and continue to further my academic journey, so that means I have only three years to study Law at a university in the UK,” she explained.”

She described her academic experience at Chrisland and the

Bukolami Adeyemi

efforts of the educators as intentional and detailed, adding that the school has a lot of opportunities for students to study abroad.

Mmesoma Okonkwo, 17, from Anambra, who received the ‘Top in the World’ award for English IGSCE as a second language, stated that sitting for six subjects that were all theory-based was daunting for her.

“We wrote the exam in May/June last year, six subjects for most of us.

So out of the millions of students that wrote the exam, I emerged as the top in the world in English. The English exam was theory. There was no objective. It was in three parts, all theory,” said Okonkwo. “We had to do writing and listening, and speaking for the

exam. English was my favourite. It was enjoyable to write the exam and prepare for it as well.”

Asked how she prepared for the exam, she said, “We would spend time doing past questions on the Cambridge website and also have mock exams that are similar to IGSCE. Our teachers will make us pick a few topics on essay writing and team us up.”

Okonkwo, who intends to study Business Management, described the course as versatile, saying she is passionate about doing business.

Mmesoma’s mother, Mrs Udora Okonkwo, was delighted with her daughter ’s success.

She said she could inculcate the reading culture in Mmesoma and her siblings from a young age, which has boosted her academic performance.

She advised students to study, work hard, and cooperate with teachers.

A member of the advisory board of Chrisland Schools Limited, Mr. Akin Fadeyi, explained that the school is dedicated to the general advancement of humanity, as it is resourced with a crop of disciplined and committed staff members.

“We have been able to achieve a consistent track record for delivering qualitative, world-class education even as we have remained irrevocably committed to raising great ambassadors who have been modelled in our community’s humane culture, values and ethics,” Fadeyi stated.

He added, “The light has always been our focus while love has been our sustenance. It is not the first time we will be on the world stage. We have always raised an enduring generation of leaders in all spheres of human endeavour, be it science, technology, arts and sports.”

Bauchi Students Struggle with Learning as 207 Govt Schools Have No Teachers Segun Awofadeji ÓØ ËßÍÒÓ

Basic Education in Bauchi is in bad condition, with 207 public schools across the 20 local government areas having no single teacher.

The figure represents 6.3 per cent of the total number of public schools managed by the state and local governments.

Sixteen thousand five hundred three male and female teachers manned the entire public schools in the state.

There are 9,104 male teachers and 5,406 female teachers, totalling 14,510. The total number of classrooms is 14,499, while the useable ones are 13,067.

Available statistics show that the total number of teachers with certification in the English Language is 3,416 representing 21 per cent, while the number of teachers with certification in other Nigerian languages is 1,232 representing 7.5 per cent.

To improve the data, the USAIDfunded LEARN to Read project advocated the need for the Bauchi State House of Assembly (BAHA) to support the additional budgetary allocation to Basic Education.

This, according to the project, would go a long way in changing negative narratives.

The project’s budget planning and policy reform specialist, Abdullahi Abubakar, gave the indication in Kano at the just concluded two-day orientation for the state legislators on their oversight roles.

Abubakar said the lawmakers’ support in improving the basic education budgetary allocation was needed the most towards addressing the myriads of problems in the education sector.

In a paper, ‘Role of Legislature in Improving Basic Education’, the Abubakar said lower-level teaching and learning was in bad shape, as the Bauchi government’s expenditure on each primary and junior secondary school pupil in the 2019/2020 session was N19,264. It dropped to N13,030 in the 2020/2021 session.

However, in the 2019/2020 session, the total amount spent on each senior Secondary school student was N6,089. The figure decreased to N5,854 in the 2020/2021 session.

Whereas on a single tertiary institution student in the 2019/2020 academic session, the state government spent N179,770, it sharply rose toN,633 in the 2020/2021 session.

In the 2019/2020 session, the total budget by the Bauchi government in education and non-education was N124,643,279,717, while in 2020/2021, the state increased it to N178,117,693,381. Total expenditure on

education in the 2019/2020 school year is N9,730,295,769 representing eight per cent, and in the 2020/2021 school year, the state government expended N17,301,896,892, representing 10 per cent.

In an interview, Bauchi assembly speaker, Hon. Abubakar Sulaiman, expressed shock at the presented data and assured of the 10th assembly’s resolve to reverse the trend.

Sulaiman said, “Every one of us here is touched, and by the grace of the Almighty when we return home, by these presentations of very rich papers from different resource persons, we’ll return as changed personalities in our various constituencies because we learned a lot and we’ll make sure that we bring the needed change to our people.”

The project’s focus in Bauchi is to ensure that pupils in Primary 1 and Primary 2 can read and write in the language of their immediate environment, particularly Hausa.

FCET Umunze Provost Tasks Students on Technical Skills Acquisition Uchechukwu Nnaike

The provost of the Federal College of Education (Technical) Umunze, Anambra State, Dr Tessy Okoli, has emphasised the need for employable skills among students in tertiary institutions.

She said acquiring technical skills would enable students to become job creators upon graduation and reduce youth unemployment in the country.

Okoli stated this during the college’s recent matriculation ceremony at the Convocation Arena.

She advised the new students to take advantage of the entrepreneurship and vocational programmes offered in the institution for self-development, adding that the college places a high premium on technical and vocational skills and ICT to equip students with

employable skills that would make them relevant in the present society.

The provost stated that Nigeria needs a new generation of ICT entrepreneurs and experts to drive key innovation and development in critical sectors.

Okoli, who doubles as the national president of the Association of Women in Colleges of Education in Nigeria, disclosed that a student of the college, Nweke Kenechukwu, was certi-

fied as a Google ambassador after successfully participating in the global training programme.

She expressed delight that more college students have continued to blaze the trail in the ICT sector as content creators, programmers, and computer software engineers.

She frowned upon the increasing rate of academic fraud among students in tertiary institutions and warned the students against such vices.

35

WEDNESDAY, ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

ALL FOR THE SECURITY OF ABIA STATE...

L - R: The State Commandant of NSCDC, Paul Igwebuike, Brigade Commander 14 Brigade Ohafia, Brigadier Gen, N. J. Edet, Abia State Governor, Mr. Alex Otti, during the inauguration of 20 vehicles for Special Security Operation code named "Operation Crush" in Umuahia ... yesterday.

Lawan, Yari, Tambuwal, Oshiomhole, Musa, Others Emerge Senate Committee Chairmen Senate president unveils 73 standing c’ttees chairs, deputies Adjourns plenary to September 26 Sunday Aborisade in Abuja President of the Senate, Godswill Akpabio, has named his predecessor, Ahmad Lawan as the Chairman, Senate Committee on Defence.

He is one one the 73 senators that would chair the various standing committees of the 10th Senate.

He made the announcement shortly before the red chamber adjourned plenary to September 26 to enable members to enjoy their annual long vacation.

Akpabio also announced his main challenger in the race for the 10th

Senate Presidency, Abdulaziz Yari, a former governor of Zamfara State as the Chairman, Senate Committee on Water Resources.

Others who emerged committee chairmen are a former governor of Sokoto State, Aminu Tambuwal (Housing), and former governor of Edo State, Adams Oshiomhole (Interior).

The list also included Sen Godiya Akwashiki (Airforce), Abdulfatai Buhari (Aviation), Osita Izunaso (Capital Market), Cyril Fasuyi (Establishment), and Seriake Dickson (Ecology/Climate Change).

The Committee on Petroleum Resources (Downstream) would be chaired by the Senator representing Ondo North, Jide Ipinsagba while Aliyu Wadada would chair the Senate Public Accounts Committee.

Others are Shehu Kaka (Special Duties), Patrick Ndubueze (Works), Solomon Adeola (Appropriations), Mohammed Sani Musa Sani (Finance), and Abiru Tokunbo (Banking).

The new chairmen also included Isa Jubril (Customs), Elisha Abbo (Culture and Tourism), Victor Umeh (Diaspora), Lawal Usman (Education), Akintunde Yunus (Environment), Ibrahim Bomai

(FCT), Sani Abubakar (Foreign Affairs), and Banigo Harry (Health).

The rest are Enyinaya Abaribe (Power), and Aliyu Wamakko (Local and Foreign Debts); Adamu Aliero (Land transport), Gbenga Daniel (Navy), Barinada Mpigi (Niger Delta), Mohammed Monguno (Judiciary), and Yemi Adaramodu (Media & Public Affairs, Youths and Sports).

Senator Ireti Kingigbe would chair the Women Affairs, Orji Kalu (Privatization), Mustapha Sabiu (Agriculture), Aliyu Bilbis (Communications) and Asuquo Ekpenyong (NDDC).

Akpabio had earlier announced

Titus Zam as Chairman Rules and Business Committee and Opeyemi Bamidele as the Vice Chairman.

He had also, named Senator Sunday Karimi, as Chairman, Senate Services and Williams Eteng Jonah as deputy.

Ethics and Public Petitions is chaired by Okechukwu Ezea and

Khalid Ibrahim Mustapha as deputy.

The National Security and Intelligence Committee has Shehu Buba Umar (chairman) and Asuquo Ekpenyong (deputy).

Legislative Compliance panel is chaired by Garba Musa Maidoki, as Chairman and Ede Dafinone as deputy.

NNPP to Ganduje: Kwankwaso Ahead NMA Laments Chronic Manpower Shortage in Katsina of You Politically Juliet Akoje in Abuja

Mulls industrial action Francis Sardauna in Katsina The Katsina State chapter of the Nigerian Medical Association (NMA) has expressed concern over what it termed the chronic manpower shortage and infrastructural decay in the state.

The Chairman of the Association, Dr. Adamu Saminu Adamu, in a communique he read after the regular State Executive Council (SEC) meeting

held in Katsina, decried the hardship faced by health workers in the state.

He enumerated lack of equipment, poor remuneration, meagre amount of N5,000 as hazard allowance, lack of residency training programmes and zero retention policy as factors militating against the health sector in the state.

Five years ago, he said, the state-owned hospitals accredited by the Medical and Dental Council of

NLC Calls for More Modular Refineries’ Licences in Edo Lauds Obaseki’s interventions after subsidy removal The Chairman of Nigeria Labour Congress (NLC), Edo State Chapter, Odion Olaye, has called on the federal government to issue more modular refinery licences to operators in the state to expand the state’s refinery output.

He noted that the state was already leading the charge of boosting local production of refined petroleum products.

According to a statement, Olaiye also noted that the State Governor, Mr. Godwin Obaseki, has set the right example by making the state a conducive environment for investment in the oil and gas sector, noting that two modular refineries are operational in the state.

Hailing the governor for his worker-friendly policies, he said: “The removal of fuel subsidy has caused hardship to all the citizens of

the nation. We thank Mr. Governor for reducing the working days of civil servants to three days in a week. We appeal to the President of Nigeria to allow Nigerians to breathe.

“We want the federal government to fix the three refineries we have in Nigeria and also give licenses for more modular refineries in Edo State so we can refine more products and sell to Nigerians,” he said.

Olaye added: “Fuel price has been increased by 300 percent so workers’ salaries should also be increased by 300 percent.”

He hailed the governor’s plan to allocate N500 million as the state’s palliative package to cushion the effect of the subsidy removal, noting that the governor’s efforts are well intended.

Nigeria (MDCN) trained 75 House officers, "but can barely count on 10 house officers today."

Adamu added that: "It is no longer news that the Katsina State Government has less than 100 doctors currently working on the ground.

Brain drain, poor remuneration, lack of residency training, nil retention policy and poor information among political leaders ensure these shortages of manpower are chronic and persistent.

"This fall in standard and neglect is the last straw for NMA Katsina and its declared unacceptable and highly under-serving of the good people of Katsina State. We can no longer sit idly by and allow such inattention to healthcare service

delivery to continue."

Adamu said the association has given the state government a twoweek ultimatum to address all its challenges or face industrial action.

He explained that failure by the government to respond to their concerns within the 14-day ultimatum, the association would embark on a five-day warning strike to press home their demands.

He said: "The Nigerian Medical Association Katsina State branch hereby gives an ultimatum of 14 days following which a five-day warning strike will be undertaken by all its members across, local government, state and federal government hospitals, including private hospitals."

The national leadership of the New Nigeria Peoples Party (NNPP), yesterday,told the National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje, that its presidential candidate in the February 25 election, Senator Rabiu Musa Kwankwaso, was not his mate by all standards, especially when it comes to politics.

Addressing the press, NNPP National Auditor, Ladipo Johnson, who berated the APC members for making a character like Ganduje their national chairman, said the party would not entertain questions relating to comments from Ganduje on their presidential candidate.

Johnson said the focus of the party was to rebuild it and this would entail the discipline of members.

Also speaking at the press

conference, the NNPP National Chairman, Abba Kawu Ali, said he was surprised that the APC could settle for a man like Ganduje despite his various controversies and that there was no basis to compare Ganduje to Kwankwaso because the latter was miles ahead and better than the former.

"The party performed very well in the 2023 general election given the fact that from its formation to the election proper was less than one year.

Apart from winning seats in both the national and state assemblies, the party also won the governorship election in Kano State," he said.

He added that the party was the third party in the National Assembly after the APC and the PDP and the NWC meeting was called to take a stock of its achievements and where it is supposed to be in the next coming years.

FCT-IRS Excoriates FIRS over Remittances of FCT Taxes to States

Olawale Ajimotokan in Abuja

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has objected to the alleged wrongful remittances of taxes meant for it into the coffers of the Federal Inland Revenue Service (FIRS) and the 36 states of the federation.

The Acting Executive Chairman FCT-IRS, Haruna Abdullahi condemned the, “recurring erroneous act” yesterday while speaking at a two-day workshop organised in collaboration with the Joint Tax Board and Office of the Accountant General of the Federation, to ensure proper use of IPPIS and GIFMIS platforms He said it was unfair that personal income tax that was supposed to be paid to FCT-IRS was being remitted to

other states of the federation through the Integrated Payroll and Personnel Information System (IPPIS) and the Government Integrated Financial Management Information System (GIFMIS).

According to him the resources wrongly allocated to other states could be better utilised to foster growth and development in the FCT and benefit the residents the nation’s capital.

“This engagement is vital to correct the misallocations of past tax remittances. I would like to stress that the Federal Capital Territory Internal Revenue Service (FCT-IRS) exists to serve the people of the FCT, just as the FIRS exists to serve the entire nation.

“We are not competitors, but rather

collaborators in the larger scheme of national development.

“To the FIRS, we say, let fairness and justice prevail. We believe in your institution's dedication to just and fair practices. And as such, we request that you join us in this crucial endeavor to correct these past mistakes and ensure that the FCT-IRS receives what is rightfully due to it", he averred.

He stressed that arising from the anomalies of inaccurate entries of data on the platforms, financial records were distorted and states were as a result deprived of their rightful due resources.

Abdulahi urged desk officers to be meticulous in their duties by doublechecking every data entered, every form filled and every tax remittance made to ensure it goes to the right

organisation.

In his remarks, the Chairman, FCT Chapter of the Chartered Institute of Taxation of Nigeria, Dr. Kennedy Iwundu, noted that the VAT component of tax was meant to be remitted to states, the FCT-IRS in the case of FCT, while the withholding tax component was payable to FIRS. He charged desk officers to always demand two tax identification numbers (TINs) to be able to make payments for the two tax components.

Iwundu, also called on the tax organisations to comply with the principle of simplicity and certainty, to make payment easy, warning without it tax payers would be further discouraged in filing tax returns since.

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STATES' INTERFERENCE IN MINING ACTIVITIES...

L-R: National Financial Secretary, Miners Association of Nigeria (MAN), Mr. Tope Adebanjo; Chairman, Board Of Trustees, MAN, Alhaji Shehu Sanni and National President, MAN, Mr. Dele Ayanleke, during a press conference on states government interference in mining activities against the constitutional norms in Nigeria held in Abuja ...yesterday.

PHOTO: ENOCK REUBEN

South East Senators Protest, Demand Additional Ministers Say allocating five slots to Igbo, unfair, unconstitutional Deputy speaker too Akpabio pledges to discuss with Tinubu Adedayo Akinwale and Sunday Aborisade in Abuja Senators from the South East geopolitical zone have protest the allocation of five ministerial slots to their region and urged President

Bola Tinubu to appoint at least two additional minister, who are of Igbo extraction.

The federal lawmakers insisted that their demand was to ensure fairness and justice in the representation of all geopolitical zones in the

We Paid N3m for FCC Jobs, Witnesses Tell House Committee Adedayo Akinwale in Abuja Two witnesses, who were victims of the alleged job racketeering at the Federal Character Commission (FCC), yesterday, told the House ad hoc committee that they paid N3 million for employment at the commission They however, lamented that their employment letters were later retrieved.

A desk officer of the FCC, Haruna Kolo, had confessed to have received more than N75 million from job-seekers on behalf of the FCC Chairman, Muheeba Dankaka The witnesses, Abdulmalik Ahmed and Ali Yero, stated this while testifying before the House committee investigating federal ministries, department and agencies, parastatals and tertiary institutions on mismanagement of the Integrated payroll and Personnel information system (IPPIS).

Ahmed revealed that their employment letter which was earlier issued to 27 of them was later retrieved at a meeting on the 17th of July 2023 by a committee, who investigated them and collected their original appointment letters.

He explained that after getting the appointments, Kolo promised that they would be posted in two months time.

"I get to know Kolo through the driver of Taraba Commissioner at FCC. I transferred a million naira into Kolo’s account on the arrangement that the monthly pay is about N140,000 or N130,000. So, we agreed on N1.5 million with the driver first.

We bargained with the driver on behalf of Kolo. His name is Yusha’u Gambo,” he said.

Also, in his testimony, Yero said his two brothers paid N2 million in installments to secure the job for him.

According to him, one of them paid N1.5million while the other paid N500,000 as balance.

He stated, "My brothers Nurudeen Yaro and Abdulrazak Yaro paid the sum of N2 million to Badamasi Yaro’s account on the 2nd of August 2022. Badamasi Yaro is working with Haruna Kolo and the money paid into his account was for a job at

Federal Character Commission.

“Haruna Kolo told me the slot was from the Chairperson of the commission, that is why I would be captured under IPPIS platform.

Giving his verdict, Chairman of the Committee, Hon. Yusuf Gagdi, said in the absence of Kolo, Secretary to Taraba State commissioner and his driver should appear before the committee today (Wednesday).

Tinubu government.

The Senator representing Anambra North, Tony Nwoye, made the position of the South East senators known in a motion he moved at the plenary.

The remaining 14 other senators from the region were co-sponsors of the motion.

Nwoye complained that the South East region has the lowest ministerial representation among those appointed by President Tinubu.

The Anambra Senator claimed that the gesture of the president in the appointment of ministers contravened Section 5 (a) and 5 (b) as well as Section 4 (1) of the Federal Character Commission Act Laws of the Federation, 2004.

He also said insufficient representation from the South-East region in the Tinubu's government does not promote national unity and national loyalty as enshrined in section 14 (3) of the 1999 constitution as amended.

Nwoye, therefore, urged the Senate to appeal to Tinubu to make additional appointments of at least two ministers from the South-East to balance geopolitical representation in the Tinubu administration.

Senate President Godswill Akpabio, after the Anambra Senator's presentation, promised that the leadership of the Senate would meet with President Tinubu very soon to table the matter before him.

Also, the Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has called on President Tinubu to consider more slots for the South-east region in line with the Federal Character Principle.

Kalu, in a statement yesterday by his Special Assistant on Press Affairs, Udora Orizu, also appealed to the president to consider more slots for the region in the interest of justice and equity.

He however, commended the

president for fulfilling his promise of having more women and youths in his cabinet.

He said, "I commend our dear President, Bola Ahmed Tinubu on his choice of Ministers of the Federal Republic of Nigeria. The President showed magnanimity and fairness by including more women and youths in his cabinet, fulfilling his campaign promises.

"However I appeal to His Excellency to kindly consider more slots for the Southeast region in line with the federal character principle espoused in Section 5(a) (b) Part 3, Section 4(b) Part 1 of the Federal Character Commission Act. I know Mr President as a magnanimous leader, and I appeal to him in the interest of justice, equity give more slots to the southeast.

"I congratulate my sisters and brothers from the Southeast on their confirmation by the Senate and urge them to key into the President's

agenda for a new Nigeria."

Meanwhile, a Human Rights Lawyers' group, Global Integrity Crusade Network (GICN), has lauded the Senate for not giving in to blackmails but taking the path of justice and fairness, to confirm a member of the House of Representatives, Olubunmi Tunji-Ojo as minister.

Some groups, including a lawyer had been pushing that the Senate should not confirm Tunji-Ojo, due to alleged discrepancies in his Discharge Certificate of National Youth Service Corps (NYSC).

Addressing Journalists at the National Assembly Edward Omaga, President of the Network, and Director of Legal Services, Denning Akori, said they were at the Senate to monitor the proceedings for the group, having done preliminary investigations into circumstances surrounding the said NYSC certificate.

CPPE Cautions against Military Intervention in Niger Says it will negate fundamental objectives of ECOWAS Dike Onwuamaeze The Centre for the Promotion of Private Enterprise (CPPE) has warned that any resort to military option to compel the military juntas that ceased power recently in Niger to restore democratic government would negate the fundamental

objective of Economic Community of West African States (ECOWAS) and have a telling economic and security implications on Nigeria.

The Chief Executive Officer of CPPE, Dr. Muda Yusuf, said yesterday in a public statement titled “Economic Implications of Military Option in Restoring Democracy in

Niger,” that “one of the key mandates of ECOWAS is the promotion of economic integration. Military actions among member states would surely negate this fundamental objective.

It would perpetuate fragmentation of the region and trade within the region will be severely impacted.

This has grave consequences for

Lamidi Apapa LP Faction Hails Tinubu's Handling of NLC Protest Emameh Gabriel in Abuja The Lamidi Apapa-led faction of the Labour Party (LP) has commended President Bola Ahmed Tinubu’s friendly approach that caused organised Labor to call off its nationwide protest last week.

The group stated this in a statement signed by the factional National Publicity Secretary, Abayomi Arabambi and made available to newsmen yesterday.

Arabambi, said it was for them at the Labour Party to go beyond the divide of partisanship and mere politics, adding that Tinubu recently released economic blueprint that touched on the fundamentals of nation-building that had eluded the country for decades.

He explained that out of the

41-paragraph speech, 15 of the paragraphs was not in any way, at a loss to them at their faction of the National Working Committee of LP. He pointed out specifically, paragraphs 15 to 30 which he said addressed the concerns of, "all Nigerians who are bearing the brunt of the removal of the fuel subsidy, albeit temporarily and the unified exchange rate.”

He said: "To do this, the President left Nigerian with some symphonic puzzle, a little addition and multiplication which is progressive and align with the Labour Party welfare and vision for national policy.

“The President said the manufacturing sector would be further empowered to deliver goods and services to the country with expansive

view and to this end, N75 billion would be deployed to that sector between now and March next year, this is an 11-month timeline for implementation, assessment and results, from which a review would be done.

"More rewarding and labourfriendly approach is the loan at a single digit interest rate of nine per cent per annum. In spite of this, the policy extends repayment period to 60 months. Do the maths, it translates to about five years.

"That is a labour and productive friendly policy and programme that the LP cannot fight because of mere politics but support as our own labour members in the public and private sector are direct beneficiaries of this well laid out plan.”

the economies of the economies of member states and the welfare of the citizens.”

He noted that the recent border closure between Nigeria and Niger is already having an adverse impact on traders on both sides of the divide.

“The truth,” according to him, “is that sanctions are typically doubleedged sword which is why it needs to be cautiously and strategically applied.”

He also highlighted that the fragile security situation in the sub region might further deteriorate in the event of a military assault on Niger.

Yusuf noted that current acts of terrorism in the region required concerted efforts by ECOWAS’ countries to tackle them, adding that Nigeria needed the cooperation of its neighbours to effectively confront terrorism in its territory.

He said: “A fragmented region cannot present an effective front to deal with the growing challenge of insecurity in the region. The countries in the region may become more vulnerable in the event of intraregional conflict and fragmentation.

“It is instructive that the Sahel is rapidly becoming a theatre of geopolitical competition between Russia and the West. The Sahel is currently the hotbed of global terrorism. It is not in Nigeria’s interest to get deeply involved in the military adventures in the zone, with

Mali, Burkina Faso, and Niger being major theatres of their operations.

This could further complicate matters for the entire sub region. Nigeria should avoid getting entangled in these geopolitical dynamics.”

Yusuf, however, endorsed ECOWAS’ decision to pressure the military junta in Niger to restore constitutional democracy in that country as a welcome development.

He also said that President Bola Ahmed Tinubu, being the current chairman of ECOWAS is saddled with enormous leadership responsibility at this crucial time in the region’s history.

But he added that “any contemplation of military intervention should take into account the wider social, economic, welfare and security implications for the countries of the sub region and their citizens. There are far reaching macroeconomic, trade and security and geopolitical ramifications which should be carefully considered. The risk of high collateral damage is also very high.

“This is a defining moment for ECOWAS, which calls for rigorous thinking, robust consultation, sound diplomatic judgment, a deep sense of history and an exhaustive evaluation of the many ramifications. It is also critical for ECOWAS to consider the geopolitical dimensions of the unfolding developments in the sub region.”

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COCKTAIL TO CELEBRATE NEW DIRECTORS OF RAINOIL SUBSIDIARIES...

L-R: Managing Director,Rainoil Gas, Mr. Emmanuel Omuojine; Group Managing Director, Rainoil Limited, Dr. Gabriel Ogbechie; Group Executive Director, Rainoil Limited, Mrs. Godrey Ogbechie; and Managing Director, Rainoil Logistics, Dr. Jude Nwaulune ; during a cocktail event to celebrate new directors of Rainoil subsidiaries in Lagos... yesterday.

Tinubu Mourns as Tributes Pour in for Pastor Taiwo Odukoya Atiku, Sanwo-Olu condole family Chiemelie Ezeobi, Rebecca Ejifoma in Lagos and Deji Elumoye in Abuja President Bola Tinubu, yesterday, commiserated with the family, friends and congregants of the Fountain of Life Church, over the demise of the Senior Pastor, Taiwo Odukoya, who passed at 67.

Also, tributes have continued to pour in for the late man of God from different parts of the world, including former Vice-President Atiku Abubakar and the Governor of Lagos State, Babajide Sanwo-Olu. However, Tinubu, in a release yesterday by his media adviser, Ajuri Ngelale, sent his heartfelt condolences to the Christian Association of Nigeria

(CAN), Pentecostal Fellowship of Nigeria (PFN) and associates of the highly revered religious leader, whose teaching, outreach and good work expanded the frontiers of charitable endeavour with particular respect to the education and health sectors.

The president noted the worthy contributions of Pastor Odukoya to the development of the country, supporting the weak and vulnerable while providing a platform for many to realise their dreams through the teaching of the word of faith.

While praying for repose of the soul of the departed, he highlighted the importance of the active sustenance of the outstanding legacies of the renowned clergyman by all

who knew him, trusting that the Almighty God would continue to comfort the family.

In a tweet, Atiku wrote: "Heartfelt condolences to the family, congregation, and community of Pastor Taiwo Odukoya of Fountain of Life Church, @TFOLC. He was a beacon of faith and hope. May his soul rest in eternal peace."

Sanwo-Olu, too, in a statement by his Chief Press Secretary, Mr. Gboyega Akosile, said the death of the cleric was a great loss to the entire congregation of the Fountain of Life Church, body of Christ, Lagos State and Nigeria as a whole.

He urged the family, especially the deceased children, friends, clerics and

Niger: NATCOM Calls for Strict Sanctions on Importation of Illegal Arms, Light Weapons Kuni Tyessi in Abuja The National Commission Against Proliferation of Arms, Light Weapons and Pipeline Vandalism (NATCOM), has called for strict sanctions against the illegal importation of arms and light weapons, saying such has continued to retrogress the growth and development of the nation.

It said sanctions would bolster regional security mechanisms by eliminating external sources of weaponry, adding that the producers and suppliers of the arms and ammunition were not ghosts.

In a statement in Abuja, acting Director General of NATCOM, Dr. Adejare Adegbenro, said while frantic efforts had been made for peaceful and prosperous Africa, the infiltration of arms from external sources had continued to remain a conundrum.

Adegbenro reiterated that from insurgencies and civil wars to banditry and violent crime, the proliferation of arms has dwarfed the continent's progress, insisting that sanctions would bolster regional security mechanisms by eliminating external sources of weaponry.

He claimed that, with this, "It would empower regional organisations and governments to address internal threats and promote stability cooperatively."

He also said implementing effective sanctions against arms producers required careful con-

sideration that must be centered around diplomatic engagement, cooperation between nations, as well as international consensus that were crucial to avoid unintended consequences, such as worsening economic hardships for innocent civilians or inadvertently supporting

black market arms trade.

"Infiltration of arms and ammunition from foreign producers heightens these issues, as they often end up in the hands of non-state actors and criminals, perpetuating instability and undermining development efforts.”

the entire congregation of the church as well as Christians Association of Nigeria (CAN) and Pentecostal Fellowship of Nigeria (PFN) to take the death of Odukoya in good faith.

“On behalf of my family, the government and people of Lagos State, I sympathise with the Fountain of Life Church on the demise of the founding Pastor of the Church, Pastor Taiwo Odukoya. The death of Pastor Odukoya, whose ministry has touched many lives within and outside his congregation, came to me as a shock. ”The death of Pastor Taiwo Odukoya is a great loss to the body of Christ. But we take solace in God that the deceased lived a good life and served the humanity.

“Pastor Odukoya, the founding Pastor of the Fountain of Life Church was a great Teacher, Preacher and Servant of the Most High God, who impacted people within and outside Nigeria positively.

“May his soul find rest with God, and may the good Lord comfort his friends, family, and all members of his church. Amen.”

President, Centre for Change, Joe Okei-Odumakin, who also described the death as a rude shock, said "Only men with the confidence of the “true call” yield the resource of life to toil

in the Vineyard.

“Through huge losses and vicissitudes of life, he rose to glory as an end time General …led the flock towards the feet of Christ. This surely is our terrestrial loss…but a great celestial gain. Goodnight, till resurrection".

One Janyallar wrote: "May he rest in perfect peace. He lived an exemplary life and overcame a lot of personal tragedies. Rest in peace, Pastor Taiwo Odukoya. And now, his watch has ended." @Ugotalksalot wrote, "Pastor Taiwo Odukoya was one of those pastors that really really loved people.

He was all about people. We’ve lost a great man." @Xtasy32111, too, wrote: "Pastor Taiwo went through a lot in this life, but his love for God was still solid. I'm certain he has found peace and he's with his maker. Rip pastor Taiwo Odukoya."

Odukoya, who died in the United States of America on Monday, August 7, 2023, passed barely eight weeks after he clocked 67. He was said to have been battling an undisclosed ailment, coupled with the burden of the personal tragedies that had happened over a period of time.

The deceased was an ardent believer who walked the talk and

was not afraid to share his faith with any who cared to listen.

Also known as a worshipper, he would often break into praises or worship during his messages and his dance steps were with joy.

In the statement announcing his death, the church on its Instagram page wrote: "The Fountain of Life Church family, in total submission to the will of God Almighty, announces the passing unto greater glory of our father, our teacher, a great servant of the Most High God, Pastor Daniel Taiwo Odukoya, Founding Pastor of the Fountain of Life Church, who passed unto glory on the 7th of August 2023 in the USA." According to those in the know, the loss of his first wife, Pastor Bimbo and the second, Pastor Nomthi, whom he married afterwards, was a great blow and he was yet to recover when he lost his twin sister.

Pastor Bimbo died in a plane crash in 2005 and after he remarried, he lost his second wife, Nomthi, to cancer in 2021 and almost two months later, lost his twin sister, Kehinde, aged 65.

Born on June 15, 1956 in Kaduna, the late Odukoya had his primary and secondary education at Baptist Primary School, Kigo Road, Kaduna and St. Paul’s College (now known as Kufena College, Wusasa) Zaria.

TINUBU VOWS TO END NIGERIA'S OVERRELIANCE ON BORROWING FOR PUBLIC EXPENDITURE we collect. And that inefficiency is coming from, you know, sometimes, I think in the 2023 budget, we have like 63 MDAs that were given revenue targets.

“Those MDAs want to be able to focus on their primary duties of why they were established, the revenue mandate is a distraction for them.

“So imagine that we asked the FIRS to collect those revenues on their behalf so those agencies, by focusing on their primary mandates, they'll facilitate the economic development we're looking for.

“FIRS will collect the revenues efficiently, which means not only is the top line growing because the cost of collecting it is reducing. And that gives you a much bigger margin to take care of the people.

“So these are some of the areas where we expect that the increase (18% tax-to-GDP) would come from.

If we get to a point where it becomes necessary to look at existing tax rates, and all of that, it will be maybe as a result of harmonisation of taxes that we have repealed from the current legislation.”

Shedding more light on the targets,

Oyedele said, “We don't want to tax investment because it seems counter-intuitive. If you need more investment for economy to grow, why do you make it more expensive to invest? Why don't I allow you invest and when you're making the returns on your investment, we can talk about the taxes at that point?

“Why am I taxiing production when I need more productions to even create the employment for our people, when I can wait for you to produce and tax the consumption?

“How do I ensure that while I'm taxing consumption, it does not come in the way of the quality of life and so on and so forth? And that's where the policy design comes in. So in designing your policy and part of the mandates of this committee is to get a lot of data about our people.

“So when we are collecting data about our people, it is not because we want to tax everyone. When you have that data, you use it to design the fiscal policy such that the poor and vulnerable do not carry the burden of tax. So that's why you see – and we have a bit of that already – you see basic food

item is exempted from VAT, right?

So that's the plan.

“The plan is to ensure that there are some of us who can afford those things. Some of us will go to a five star hotel today and have lunch and that is N25, 000. For some people, that is their monthly income. So the person that can pay 20,000, 25,000 to buy a meal, they can afford a little bit more to take care of society as a way of a contributing to our economy”.

Speaking also, Chaudhuri said Nigeria needed to significantly increase its tax-to-GDP ratio. He lauded Tinubu for eliminating fuel subsidy, which he said added close to two percentage points of GDP to government revenues.

He emphasised that for government to provide basic services, such as healthcare, education, and infrastructure, it typically needed to spend between 15 per cent and 20 per cent of GDP. “However, Nigeria has been spending only 10 to 12 per cent of GDP, while its revenues have been about seven to eight per cent of GDP,” Chaudhuri. He added, “Therefore, there is a large deficit that

needs to be addressed. Improving the tax administration and reducing the tax gap are crucial steps to narrowing this deficit.”

The World Bank country representative said to raise revenues, Nigeria must address several areas. He said the elimination of fuel subsidy was a significant step in the right direction.

According to him, a key concern is the low number of personal income taxpayers compared to the number of individuals earning significant income in Nigeria.

He added that the country needed to examine tax expenditure and assess whether collection costs were excessive.

Chaudhuri stated, “Harmonisation and fine-tuning of the tax policy regime may also be necessary, with certain taxes being increased while others are eliminated. Ultimately, the biggest gains will come from improving tax administration and reducing the tax gap.”

Another important aspect to consider was the quality of government spending, Chaudhuri said. He stated that redirecting funds to areas that Nigeria truly needed and ensuring

that they were not spent in the wrong places could help bridge the gap between revenues and necessary expenditure.

He said the focus should be on investing in areas, such as human capital development and youth skills, as articulated by Tinubu.

Chaudhuri said he believed that Nigeria should strive to achieve a target tax-to-GDP ratio of 18 per cent over time, which would align with other middle-income countries, like India and Indonesia.

On his part, MAN President, Meshioye, emphasised the significance of the committee's inauguration, stating that it represents a landmark step for the country.

He emphasised the importance of levying fair taxes and ensuring that they were deployed appropriately to enhance the business environment.

Meshioye said there should be a strong link between the government's fiscal policy, taxation, and the wellbeing of the people.

He emphasised that businesses should not refrain from paying tax, but instead focus on the fair assessment of taxes.

WEDNESDAY AUGUST 9, 2023 ˾ T H I S D AY

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NEWS

WELL DESERVED AWARD…

L-R: Managing Director, CDK Integrated Industries Limited, Bernard Longe (left), receiving the award ‘Most Resourceful Construction Industry CEO Award’ from former President of Mortgage Banking Association of Nigeria, Niyi Akinlusi, at the Africa International Housing Show in Abuja…recently

PDP Raises the Alarm over Influx of Foreign Nationals into Kwara HammedShittuinIlorin The Peoples Democratic Party (PDP) in Kwara state has raised the alarm over the purported influx of foreign nationals into the 16 local government councils of the state.

The development, according to THISDAY checks, might not be unconnected with the recent

escalation of aggressive messages from Niger Republic to Nigeria occasioned by the ECOWAS threat to launch attack to the latter over coup detat.

The party said that already the affected foreign nationals have been embarking on Okada riding, begging, vegetable farming, vegetable sales and scavenging across the parts of

Oyo Trains Amotekun Corps on Intelligence Gathering

Kemi Olaitan inIbadan

Towards its determination to improve the performance of the officers and men of the Oyo State Security Network Agency codenamed Amotekun Corps, the state government has organised a three-day training workshop for the agency.

The training, packaged to sharpen the intelligence-gathering and investigative skills of the Amotekun Corps, is geared to

enhance their abilities to nip crime in the bud before it is committed.

Governor ‘Seyi Makinde, who was represented by the Chief of Staff, Otunba Segun Ogunwuyi, while declaring the training open, said intelligence remained the most potent tool to stop crimes before they are committed.

The governor said it has become imperative to apply intelligence-gathering and analysis to the conventional method of fighting crime.

the state.

A statement issued in Ilorin yesterday signed by the party’s Publicity Secretary, Mr. Tunji Moronfoye, the party said: “The ugly

development may cause insecurity and threat to the peaceful atmosphere of the residents of the state if urgent step is not taking to address the influx of the foreign nationals into

the state.” The statement read:” We wishes to raise the alarm on this very important issue, to Kwarans and the Kwara All Progressive Congress (APC) regime, led by

Mallam Abdulrahman Abdulrazaq.

Residents of Ilorin and other major cities in Kwara state, have watched with trepidation at the major influx of foreign nationals into kwara state.

Hoodlums Raze Federal Lawmaker’s House in Anambra David-Chyddy Eleke inAwka

Some yet-to-be-identified assailants have burnt down the house of member representing Ihiala Federal Constituency in the House of Representatives, Hon. Paschal Agbodike.

It was gathered that the

hoodlums invaded the lawmaker’s house, in his Ubahi village, Mbosi community in Ihiala Local Government Area at about 1am on Tuesday and started shooting sporadically before setting the house ablaze.

Agbodike, who is also the former Deputy Speaker of

Anambra State House of Assembly was in Abuja when the incident happened.

Speaking to THISDAY through a telephone interview, the lawmaker stated that there was no loss of life during the incident.

He said: “My house in the village consisted of a fully-

furnished five-bedroom duplex with four living rooms and a kitchen, and another bungalow in the compound.

“All was completely razed by the hoodlums, including the property inside. I was informed about the incident on the telephone.”

We Have Power to Investigate, Prosecute Any Public Office Holder, Says Anti-graft Agency AhmadSorondinkiinKano The Chairman of Kano State Antigraft Agency, Muhuyi Magaji Rimin Gado, has explained that the agency would not relent in exercising its constitutional powers to investigate and prosecute any corruption case in the state.

Rimin Gado, who disclosed this

during an interview with journalists yesterday in Kano, said the agency has a court of appeal judgment that allows it to investigate not only executive members of government and agencies, but even those working in the judiciary.

According to him, “We are not deterred in all our investigations because we have weighty allegations

against them; we have court of appeal judgment which empowers the commission to investigate not only the staff or former members of Kano State executive arm of government but even those working in the judiciary.

“The court of appeal said the agency has the powers, without even writing a letter to the CJ, to

investigate a matter.

“So, as far as we are concern, they are only postponing the D-Day; nothing would stop the state from prosecuting or initiating criminal prosecution against any person because Section 211 of the constitution is so explicit. So as far as we are concerned, we are not deterred.

The British Council with major education stakeholders in Nigeria yesterday had extensive discussion session on the need to inject practical entrepreneurship in university

the surge of unemployment in Nigeria.

The one-day national onference was organised to engage with key stakeholders within the Nigerian education

pedagogy, assessment , and partnerships that improves the entrepreneurial and innovation capacity of universities.

Speaking at the event, the Country Director, British

important to reshape the tertiary education, turning graduates into employers and not employees by equipping them with entrepreneurial skills to perform better.

Oyebanji Inaugurates New British Council, Stakeholders Move to Reduce Unemployment Surge Commissioners, Special Advisers Ayodeji Ake curriculum to produce ecosystem on global best Council, Lucy Pearson, graduate-employers to reduce practice for the design and noted the programme is the general public.

Gbenga Sodeinde in Ado Ekiti

Ekiti State Governor, Mr. Biodun Oyebanji, yesterday inaugurated a new set of commissioners and special advisers to have a full complement of members of the state executive council .

A total 19 commissioners and 14 special advisers were inaugurated yesterday at the event witnessed by current and past office holders, traditional rulers, community leaders and

The governor used the forum to debunk allegations in some quarters that he had been running government without cabinet members since coming to power on October 16 last year.

Oyebanji also disclosed that it took him time to form a full cabinet because of his resolve to keep to the promise he made that the people in the grassroots would be involved in the formation of the State Executive Council.

Ogun Tribunal: Police, NDLEA Present More Evidences against Adebutu on Vote Buying As the Governorship Election Petition Tribunal in Abeokuta, the Ogun State capital, resumed proceedings yesterday, the Nigerian Police and National Drug Law Enforcement Agency (NDLEA) have released multiple evidences against the governorship candidate of the

Peoples Democratic Party (PDP), Oladipupo Adebutu, on the allegation of vote buying.

Those evidences were tendered through the counsel to the second respondent (Governor Dapo Abiodun), Chief Wole Olanipekun (SAN). The documents include reports from NDLEA dated

March 18, 2023, in relation to the possession of preloaded ATM cards with inscription of Mrs. Caroline Adebutu, mother of the PDP governorship candidate, Adebutu.

It also included the police investigation report of bribery dated May 10, 2023; updated

investigation report case of bribery, conspiracy, undue influence and others dated June 7, 2023.

All the documents were accordingly certified and tendered, after he had earlier prayed the court for 30 minutes stand down to enable the second respondent tidy up some issues.

Segun Awofadeji inBauchi

Isa Yuguda, has expressed concern that Bauchi South Senatorial has suffered neglect since APC assumed the leadership of the country.

In a statement made that was made available to newsmen in Bauchi yesterday, the AIF said

that two-third of the votes of the APC in the last presidential election in Bauchi State came from Bauchi south, yet none of the two ministerial slots was given to the zone.

The Chairman of the AIF,

Mr. Ibrahim Gokaru, said that “since 2015, people of Bauchi south senatorial zone have been voting APC overwhelmingly, yet none of two ministers given to the state in the last administration was from the south.

Alia Nominates 17 Commissioners, Others Aides Despite Supporting You, Bauchi South is Neglected, APC Group Tells Tinubu

George Okoh InMakurdi

The Benue State House ofAssembly has disclosed that a list of 17 commissioner- nominees has been forwarded to it by Governor Hyacinth Alia for screening and confirmation.

This is even as the governor has approved the appointment of 17 special advisers and 24 special assistants, to enhance speedy service delivery in his administration.

Reading the letter from the governor during yesterday’s plenary, the Speaker of the Benue State House of Assembly, Hon. Hyacinth Aondona Dajoh, said

in addition to the 14 names of commissioner-nominees earlier sent to the Assembly on July, 27th, 2023, the governor had sent in three more names, bringing the total number to 17.

The names of the commissionernominees are: Hon. Mrs. Joyce Luga (Gboko); Hon. Dr. Yanmar Ortese (Guma); Hon. Barrister Omale Omale (Apa); Rev. Dr. Frederick Kyaan (Gwer West); Hon. Ugwu Odoh (Ogbadibo); Hon. Kwaghemba Amande (Katsina Ala); Hon. Mathew Aboh (Ukum); Hon. Tiza Imojime (Buruku); Hon Aondowase Kunde (Konshisha); Professor Moses Ogbaji (Oju).

Alhial Initiative Forum (AIF), a Bauchi-based All Progressives Congress’ (APC) support group that worked for the party’s success in the 2023 general elections under Mr.

Abuja Group, LAMATA Collaborate for Improved Transportation System The executive members of the Abuja Urban Mass Transport Company Limited (AUMTCO) recently engaged in a fruitful knowledgesharing session and paid a courtesy visit to The Lagos Metropolitan Area Transport

Authority (LAMATA) in Ketu, Lagos in a significant move towards creating an inclusive and advanced sustainable transportation system for the residents of the Federal Capital Territory (FCT).

During the enlightening knowledge-sharing excursion and courtesy visit, the Managing Director of AUMTCO, Mr. Najeeb Mahmoud Abdussalam, commended LAMATA as the trailblazer in transport solutions in Nigeria.

He emphasised the significance of the visit in understanding the innovative approaches LAMATA employs compared to traditional methods, seeking inspiration to enhance their own service operations.

39

WEDNESDAY, ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Osimhen, Oshoala, Others Back FIFPRO Call for Falcons to Get Paid NFF dismisses FIFPRO statement as storm in a tea cup

Duro Ikhazuagbe

Super Falcons players who exited the ongoing FIFA Women’s World Cup in the Round of 16 in Brisbane, Australia on Monday after a nerve-racking shootouts with the Lionesses of England, have thrown their weights behind FIFPRO’s call on the Nigeria Football Federation (NFF) to pay all monies owed the players, some dating back to 2021.

The players who posted the FIFPRO statement on their Instagram pages yesterday include; Asisat Oshoala, Rasheedat Ajibade, Toni Payne, Uchenna Kanu and Ashleigh Plumptre.

Nigeria and Napoli star boy, Victor Osimhen, also posted on X platform (formerly Twitter) a simple message asking the NFF to pay the players. Victorosimhen9

W O M E N ’S W O R L D C U P FA L LO U T wrote: Pay them@thenffofficial.

FIFPRO is the world’s umbrella body for all professional footballers with its headquarters based in The Netherlands. It is made of 66 national players’ associations.

Nigeria is currently suspended based on the in-fighting that rocked the country’s players union, NANF. FIFPRO, posted a statement on its Instagram page yesterday telling Falcons players that it has taken up their fight with the NFF in the quests to get all that they are entitled to.

“Following the Nigerian women football team’s elimination from the FIFA Women’s World Cup, FIFPRO can confirm it is assisting

players in a disagreement with the Nigeria Football Federation concerning bonus payments, camp allowances and expenses, some of

which date back to 2021.

“During the World Cup, the players expressed the desire to remain focused on their performance without making public statements or facing other distractions.

“However, the Super Falcons

believe that it is now time for the Nigeria Football Federation to honour their commitments and pay the outstanding amounts.

“The team is extremely frustrated that they have had to pursue the NFF for these payments before

Australian Who Once Racially Abused D’Tigress Applies to Play for Nigeria Olawale Ajimotokan with agency report

Australian female basketball player, Elizabeth Folake Cambage, in the midst of a racial slur directed at members of D’Tigress during a pre-Olympics practice matchin 2021 has sensationally signalled her intention to play for Nigeria at next year’s Olympic Games in Paris.

Cambage, who no longer represents the Opals is alleged to have called D’Tigress “monkeys” and asked them to go back to their Third World country during a row when Australia played Nigeria ahead of Tokyo 2020.

Her slur was said to be targeted at opposing Nigerian centre Victoria Macaulay, who she shoved with an elbow during the closed-door practice game in Las Vegas.

But according to Bleacher Reports, the gangling basketballer, whose father is incidentally a Nigerian, has said she has applied to play for Nigeria.

“We're filing for me to leave the Australian team, so I can represent Nigeria. I've been in cahoots, I've been talking to them since all of this happened. This is what I

mean, people don't know the truth,” Cambage said.

The centre, who is 2.06m tall has always denied ever making the racist remarks toward the Nigerians, in stark contrast to the accounts of players from both teams that day.

Cambage has maintained her innocence, which appears to be subtle move tom downplay the incident, telling Bleacher Report there were tapes of the incident that would clear her name.

"A lot of girls don't like me. I don't really lean towards racially backed insults," she said.

"That's not how I go. I'm very pro-Black. I did not say these things to these girls.

"Leak the tapes. I've never owned the tapes. Leak the tapes.

Y'all want to see the truth, leak the tapes. Everyone in Australia that has seen the tapes, still lying about what is on these tapes, leak the tapes.

"I want it out there. Put it out there. I've never owned it. I didn't even have it when everything happened. I couldn't even protect myself with it. I had to get lawyers to get a tape with my own assault on it."

Elizabeth Folake Cambage...wants to play for Nigeria

JAMES APOLOGISES TO ALOZIE...

England forward Lauren James has apologised to Super Falcons’ Michelle Alozie for stamping on her back during the Women's World Cup last-16 win over Nigeria. She was sent off following a VAR review of the stamping. England won the ensuing penalty shootouts 4-2 after regulation and extra time ended goalless. "All my love and respect to you.

I am sorry for what happened," she said on social media to Alozie. Also, for our England fans and my team-mates, playing with and for you is my greatest honour and I promise to learn from my experience." The 21-year-old James with three goals and three assists, will miss Saturday's quarter-final against Colombia.

and during the tournament and may have to continue doing so afterwards. It is regrettable that players needed to challenge their own federation at such important time in their careers.

“FIFPRO will continue to work with the players to ensure their contractual rights are honoured and the outstanding payments are settled,” concludes the FIFPRO statement yesterday.

However, in a swift reaction to FIFPRO’s statement, the NFF dismissed it as nothing but a storm in a tea cup.

“The Nigeria Football Federation has dismissed as nothing more than a storm in a team cup, a statement issued by the world body of professional footballers, FIFPRO on Tuesday calling on the Federation to pay players of the Super Falcons what they are owed.

Director of Communication at NFF, Ademola Olajire, recalled that the federation officials sat down and agreed with the players on what to pay them but FIFA came up with a juicier package and they were all happy about it.

“If they had beaten England, for instance, and reached the quarterfinals, the players would have been entitled to $90,000, and not the $60,000 each player will be getting now. A place in the semi-finals would have guaranteed at least $165,000 each (for 4th place, and $180,000 each for 3rd place) for the players,” observed the NFF spokesman.

While restating that the federation has no issues with the players, NFF charged FIFPRO to stop playing the ostrich and stand up to its real responsibilities, calling on the body to address the real issues.

The Federation revealed that after all these years, FIFPRO does not have an affiliate body in Nigeria. It challenged the body to come to Nigeria and set up an affiliate body that can always and legitimately speak on behalf of Nigerian players, and made up of individuals who understand the culture and dynamics of the African environment.

Morocco’s Defeat Completes Africa’s Exit from Women’s World Cup France are through to a Women’s World Cup quarter-final against co-hosts Australia after ending Morocco’s historic campaign by beating them 4-0 in Adelaide.

The defeat of the North Africans completed Africa’s exit from the Mundial after South Africa and Nigeria have also lost out in the Round of 16 games against the Netherlands and England respectively.

Les Bleues were very much favourites to progress heading into the contest against the lowestranked side left in the tournament at 72nd in the world, who had been among the competition debutants this summer.

And the job looked all but done after world number five-ranked France hit a quickfire treble of first-half goals, with Kadidiatou Diani opening the scoring before providing assists for Kenza Dali and Eugenie Le Sommer.

Morocco, managed by former France international Reynald Pedros, had a less torrid time of it after the break but conceded again in the 70th minute when Le Sommer headed home.

Herve Renard’s team will

now face Australia in Brisbane on Saturday in the last eight, looking to avoid elimination at that stage for a third World Cup in a row.

Eight months earlier, France similarly defeated Morocco’s senior men’s team at the semi final of the World Cup in Qatar.

Also yesterday, Colombia set up

a World Cup quarter-final clash with England as they edged past Jamaica 1-0 in Melbourne thanks to Catalina Usme’s effort early in the second half.

Olisema Wins Custodian Assurance’s Best Goal of Naija Super 8 Flykite Productions, organisers of the Naija Super 8, have announced Cyril Olisema’s sublime strike for Akwa United against Yobe Desert Stars as the best goal of the tournament.

This was disclosed in a statement issued on Tuesday.

On account of the goal, Olisema’s goal, will be rewarded with a cash prize of N200,000 provided by Custodian Assurance Plc, one of the tournament’s sponsors.

Speaking on the sponsorship, Mr. Larry Ademeso, MD, Custodian Life Assurance Ltd, stated that the firm is delighted to have been one of the tournament’s sponsors, noting that the event gave the firm an avenue to drive better public

understanding of the benefits of life insurance.

“We are pleased to have been involved in the Naija Super 8 tournament. We are passionate about deepening public understanding of insurance while also facilitating sports development which the Naija Super 8 provided an avenue for.

As part of our sponsorship of the tournament, we will be awarding a sum of N200,000 to Cyril Olisema of Akwa United for his wonder goal,” Ademeso noted.

Olisema exchanged short passes with Osoba Kabir at the edge of the opponent’s box before sending a curler into the back of the net to double Akwa United’s lead to 2-0 against Yobe Desert Stars in

the first match of Group B. The forward’s finish helped secure three points for Akwa United, as they won the game 2-1. His team progressed to the semi-finals, but their journey was cut short by a 1 -2 defeat to Sporting Lagos, the eventual winners of the tournament.

The tournament, which was held at the Mobolaji Johnson Arena in Lagos from July 7-16, also featured musical performances by top Afrobeats acts. Naija Super 8 was organised by Flykite Productions in partnership with MultiChoice Nigeria and sponsors, MTN, Hero Lager, DStv, GOtv, SuperSport, Moniepoint, Pepsi and Custodian Assurance Plc.

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Wednesday, August 09, 2023

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Price: N250

MISSILE Otti to Criminals “As the codename indicates, the goal of “Operation Crush” is to counter with necessary force, any incidence of kidnapping, armed robbery and other forms of violent crimes anywhere in the state. Today, we say never again.

We shall no longer share one inch of our state with criminals.” --- Governor Alex Otti vowing to combat criminality in Abia State at the launching of an interagency security response codenamed ‘Operation Crush’.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

For LKJ, A Moment of Honour M

emories of the greatness of accomplished journalist and the first elected governor of Lagos state, Alhaji Lateef Kayode Jakande, came alive on Monday at a lecture organised in Lagos by the guild of editors.

A lot of lessons could be learnt from the Jakande story as told at the event.

The memory of Jakande, fondly called LKJ, was hugely honoured by a 62-year old organisation of which he also happened to be the first president.

Journalists across generations and from all over the country graced the highly successful event, with the doyen of the profession, 88-year old Sam Amuka-Pemu, publisher of Vanguard Newspapers, sitting among the distinguished veterans on the podium. In attendance were journalists who interacted professionally with Jakande in the 1960s and 1970s as well as those born after Jakande had left the newsroom for the state house. For instance, former foreign minister and former military governor of the old Imo State, Major-General Ike Nwachukwu (rtd), who chaired the occasion, was a reporter in the early sixties working with Jakande as the editor of the Daily Service Newspapers. Sam-Amuka was the features editor of the newspapers at the time. Here is Nwachukwu’s counsel to today’s journalists: “Whatever you do, follow the path of LKJ who left a light on our feet.

His footprints are everywhere.”

The Nigerian Guild of Editors (NGE) under the leadership of Mr. Eze Anaba, editor of Vanguard, deserves all the commendation it has received for this sense of historical purpose. After all, it is not every day that reporters honour their own professional greats.

Besides, the NGE president reminded his colleagues that just as Jakande and his contemporaries formed the guild to meet the challenges of their time, editors should also be prepared for the present challenges of the media industry.

In the programme, the organisers of the event duly acknowledged the support of the Lagos state government in staging the annual memorial lecture with the inaugural theme as “Lateef Jakande: The Man, His Journalism, His Politics.” Lagos State Governor Babajide Sanwo-Olu, was represented by his deputy, Dr. Obafemi Hamzat. Coincidentally, Hamzat’s father, Alhaji Mufutau Olatunji Hamzat, was the commissioner for transportation in the administration of Jakande.

The deputy governor was also the chairman of the committee that organised the 90th birthday celebration of Jakande in 2019. Jakande died barely two years after the celebration. To immortalize Jakande, according to Sanwo-Olu, the Lagos state government has established the Lateef Jakande Leadership Academy.

The governor said the academy “will provide an avenue for the younger generation to imbibe the ideals and essence of responsive, responsible and selfless leadership which were the hallmarks of Alhaji Lateef Kayode Jakande both in his private and public life.”

Ogun State Governor Dapo Abiodun said Jakande’s concept of governance should “serve as a manual for policy makers in Africa in the quest for urbanization and human capital development.” Abiodun spoke through a media consultant, Mr. Kayode Akinmade.

As Mallam Garba Shehu, a former president of NGE and former presidential spokesman, put it, there was ample education from the gathering of journalists for those who listened to the various speakers. Immensely instructive testimonies about the life and times of Jakande were warmly rendered about his famed journalistic practice and the indisputable success in the governance of Lagos state.

Jakande’s pioneering role and exemplary vision in the formation of the NGE, the Nigerian Union of Journalists (NUJ), the Newspapers Proprietors Association of Nigeria (NPAN) and the Nigerian Institute of Journalism (NIJ) were richly told by speakers from various angles. Beyond the shores

Late Jakande of Nigeria, the story was also told of Jakande as the first African to head the Executive Board of the International Press Institute (IPI) based in Vienna, Austria. The message of the Executive Director of International Press Institute (IPI), Frana Maroevic, was delivered by Alhaji Raheem Adedoyin, a member of the Executive Board of IPI. The provost of NIJ, Mr. Gbenga Adefaye, said that he learnt from Jakande’s journalism of “ideas and ideals.”

The guest-speaker, Chief Felix Adenaike, seemed to sum up things when he said that Jakande was a “pioneer of plans.” Adenaike was represented by another veteran journalist, Prince Bayo Osiyemi, who was the chief of press secretary to Jakande as the governor of Lagos state from October 1, 1979 to Dec ember 31, 1983, when the military regime of General Muhammadu Buhari put an end to the Second Republic. The guest speaker made a sweep survey of the undeniable progress made by Lagos state during the Jakande administration.

Within those 51 incredibly impactful months, policies that benefitted the people concretely were conceived and implemented especially in the important sectors such as education, healthcare, social housing, water schemes, basic infrastructure etc. For instance, the education landscape of the state was remarkably transformed from the primary to the tertiary level.

The Jakande administration established the Lagos State University (LASU). According to Adenaike, more schools were established by the Jakande government.

As a result, Lagos state was able to end the inequity

“One of the lessons of Jakande’s life is that a genuine legacy will endure enough for posterity to acknowledge it”

of the “shift system” in which children attended schools in shifts because there were no enough classrooms.

The phenomenal impact of the Jakande education policy in broadening access to basic education can never be over stated. The policy was criticised by some persons and organisations from purely elitist vantage. For an instance, this tinge of elitism in assessing the Jakande schools was re-echoed at the event by eminent journalist and fellow of NGE, Mr. Lanre Idowu, when he criticised the policy for the building of classrooms on the tennis court in his alma mater. According to Idowu, the policy discounted the importance of “all-rounded education.” Contrary to the philosophical orientation of his critics, Jakande was propelled by a greater sense of social justice to use the limited space and resources to provide classrooms for more students as an ad hoc measure.

The tennis court for a few students was the trade-off.

The situation in the education sector of the 1979 Lagos state was akin to that of an emergency. So the Jakande government should be judiciously assessed in that context. Remarkably, as Jakande’s son, Mr. Seyi Jakande, testified at the forum, the governor transferred his children from a private school to one of the public schools. What’s more, some of those who attended the Jakande schools, which some critics called “poultry sheds” later became doctors, lawyers, editors, engineers, professors, civil servants, businessmen etc.

Quality medical care was also made accessible to the people by the Jakande administration. This reporter’s life was saved because he benefitted from the lingering impact of the free medical service barely two months after the coup that removed Jakande from power because the free medical service in Lagos state had not been dismantled by the succeeding military regime. Just imagine an unconscious patient who was taken to the Badagry General Hospital from the scene of an automobile accident and was on admission for weeks without being charged a kobo.

That happened because the Jakande administration made stupendous investments in human development a focus of governance.

Little surprise, Adenaike touched on a topic which remains a sore-point among development enthusiasts whenever the Jakande era is reviewed: the metro line project that could have been long consummated if the 1983 coup had not taken place.

According to Adenaike, not only did military regime upended some of the developmental gains of the Jakande years, “Buhari also abolished the rail project contract between the Lagos State Government and the French contractors.” Not a few observers have pointed to the irony that 40 years later Buhari was President when Sanwo-Olu’s government in Lagos state executed the blueline rail project.

It is noteworthy that the story of Jakande’s success as an elected governor has virtually eclipsed the controversy that has dogged his political personality as a minister in the military government of the maximum ruler, General Sani Abacha. In one of the most contentious parts of the profile of the highly principled politician, Jakande was Abacha’s minister of housing. Although his political stature was never diminished, yet Jakande got alienated from the progressive wing of politics especially in his base in the southwest. At the height of the struggle for the re-validation of the June 12, 1993 election won by Bashorun Moshood Abiola, which was annulled by the military regime of President Ibrahim Babangida, a resolution was passed at a summit of some Yoruba leaders in Ibadan that all the Yoruba political figures in Abacha government should resign their appointments. Jakande, Chief Ebenezer Babatope (transport minister), Dr. Olu Onagoruwa (attorney -general) and others ignored the resolution, invoking their own points of principle. The resolution was part of the pressures mounted on the vicious military

regime. Jakande was instead focussed on executing the housing projects of the military government.

One of the most famous among the projects was the development of the Banana Island in Lagos Island, which is now the abode of the rich and powerful. The political backlash against Jakande’s political foray into the Abacha’s government from some progressive elements still lingers. But as Mr. Seyi Jakande pointed out, the truth of the matter is that it was actually Abiola himself who persuaded Jakande to be in the Abacha cabinet in the mistaken impression that the military dictator would restore the June 12 mandate to the winner of the election after a short transition. The rest, as they say, is history.

The reminiscences about Jakande’s illustrious career in journalism were spiced by insightful anecdotes and soundbites generously offered by the veterans.

They all attested to Jakande’s ethical rigour, hard work, discipline and sense of organisation. They all celebrated Jakande’s inimitable ability to craft punchy and informed editorials. It was fascinating, for instance, listening to former managing director of The Guardian Newspapers , Mr. Lade Bonuola, saying repeatedly that “my bosses are here” (in apparent reference to Amuka-Pemu, Aremo Olusegun Osoba and others). Meanwhile, several journalists in the hall had earlier risen with enormous excitement to welcome Bonuola himself as “the boss.” Bonuola said he learnt at the feet of Jakande.

Veteran journalist, Chief Dayo Duyile, who bagged his PhD in Mass Communication at 82 from the University of Lagos in January said Nwachukwu “ defected” from journalism to the Nigerian army while they were both covering the courts in the early sixties. Duyile was a Daily Times reporter while Nwachukwu reported for Daily Service. And the banter was stretched further by the man who always brings dignity to the profession by introducing himself amidst other professionals as “a reporter for life,” Aremo Olusegun Osoba. The former governor of Ogun state said Nwachukwu ought to face newsroom “court-martial for the defection” as alleged

by Duyile. While making his remarks as chairman, Nwachukwu at a point spoke in flawless Yoruba as he paid warm compliments to Jakande’s widow, Alhaja Sikirat Abimbola Jakande, and the audience applauded. Osoba later said it was no “big deal’ that Nwachukwu spoke fluent Yoruba because he was after all a “Yaba boy, who grew up in Yaba and got married in Yaba,” Lagos. He added that Nwachukwu speaks Igbo, Hausa and Yoruba.

The portrait of Jakande, “the man,” was unveiled by Jakande’s son, Seyi, who spoke about the selflessness and frugality of the father as well as his keen sense of public purpose. For instance, he said that although Jakande was in the saddle as minister when Banana Island was being developed, no member of his family got a plot from the artificial island. In his view, Nigeria might have to go back to the future, so to say, in order to make progress. The son also paid tribute to his mother for keeping the home front while the father was busy with the pursuit of his career. Alhaja Jakande, who calmly sat on the podium, was given a standing ovation for being a fitting partner to the journalist.

Although Jakande did not write his memoirs, yet he left a rich library and archives which should be treated as treasures. There are many lessons to be drawn from the career of Jakande. One of the lessons is that a genuine legacy will endure enough for posterity to acknowledge it. The projects executed more than 40 years ago by the Jakande administration are remembered today because of the true impacts on the lives of the people and not because they were “commissioned” or decorated with plaques. It is worth pondering the fact that although Jakande’s achievements were recorded decades ago, yet people talk about his role in history as if it happened yesterday.

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