WEDNESDAY 16TH AUGUST 2023

Higher Food, Commodity Prices Drive Inflation Further to 24.08% Severe in Kogi, Lagos, Ondo, others James Emejo in Abuja The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities rose to 24.08 per cent in July

compared to 22.79 per cent in June, the National Bureau of Statistics (NBS) disclosed yesterday.

The NBS blamed the 1.29 per cent rise in headline inflation on increases in the prices of food and

commodities.

Year-on-year, however, headline inflation was 4.44 per cent higher compared to 19.64 per cent recorded in July 2022.

According to the latest CPI

Report for July, released by the NBS, food inflation rose 26.98 per cent year-on-year, higher by 4.97 per cent compared with 22.02 per cent recorded in July 2022.

Specifically, the rise in the food

index on a year-on-year basis, was attributed to increases in prices of oil and fat, bread and cereals, fish, potatoes, yam and other tubers, fruits, meat, vegetable, milk, cheese, and eggs.

On the other hand, the all items less farm produces and energy or core inflation, which excludes the prices of volatile agricultural Continued on page 11

President: Death of Military Officers, Soldiers in Helicopter Crash Saddens Me Immensely... Page 8 Wednesday 16 August, 2023 Vol 28. No 10353. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

Tinubu: We’re Working Not to Compound Niger’s Crisis Welcomes ECCAS’ support, promises to work with Bongo ECOWAS military chiefs meet in Ghana tomorrow over Niger German govt seeks release of detained Nigerien president NEF urges FG to remove sanctions imposed on country Deji Elumoye, Chuks Okocha, Michael Olugbode, Adedayo Akinwale and Sunday Aborisade in Abuja

President Bola Tinubu and chairman of the Economic Community of West African States (ECOWAS), yesterday, briefed the Economic Community of

Central African States (ECCAS) on the political impasse in the Republic of Niger and assured it that ECOWAS was doing everything possible not

to compound the situation in the country.

Tinubu, who spoke when he received in audience, the Special

Envoy of President Ali Bongo Ondimba and the Minister of Foreign Affairs of the Republic of Gabon, Mr. Hermann Immongault, at the State

House, Abuja, however, welcomed the solidarity support offered by Continued on page 11

Subsidy is Gone!

Long Live Fuel Subsidy With current market price, petrol should sell at N720/Litre Landing cost hits N651.75/Litre, Tinubu under pressure to return subsidy President, NNPC, IPMAN declare no plan to increase fuel price Presents graphic illustration indicating Nigeria's petrol cheapest in West Africa Kenya restores subsidy to curb rates volatility Deji Elumoye, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos From his inaugural speech on May 29th, 2023, where President Bola

Tinubu announced the removal of subsidy on petroleum products, development in the oil and gas Continued on page 11

ATIKU, KWANKWASO MEET... WHAT'S ON THEIR MINDS?...

Vice President and Presidential Candidate of the Peoples Democratic Party, PDP, Atiku Abubakar (left) and a former Governor of Kano State and CIBN: No Govt Can Thrive Adopting Former Presidential Candidate of the New Nigeria Peoples Party, NNPP in the last presidential election, Senator Rabiu Kwankwaso, after their meeting yesterday night in Having been left out of Tinubu's cabinet and with his main political rival and immediate past governor of Kano, Abdullahi Ganduje now chairman of the ruling Free-floating Exchange Rate... Page 8 Abuja.

APC, Kwankwaso reached out to the former Vice President. Is an alliance on the table to make sure APC doesn't reclaim Kano from NNPP in 2027? Time will tell.

2

WEDNESDAY AUGUST 16, 2023 •T H I S D AY

WEDNESDAY AUGUST 16, 2023 • T H I S D AY

3

4

WEDNESDAY AUGUST 16, 2023 •T H I S D AY

5

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

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

NEWS

NAVAL CHIEF'S COURTESY VISIT TO SANWO-OLU...

L-R: Chief of Naval Staff, Vice Admiral Emmanuel Ogalla; Lagos State Governor, Mr. Babajide Sanwo-Olu, and Commander NNS BEECROFT, Commodore Kolawole Oguntoga, during a courtesy visit to the Governor by the Chief of Naval Staff, at the Government House, Marina... yesterday

Bloomberg: Nigeria Weighing Sale of NNPC, Others to Raise Funds

Emmanuel Addeh in Abuja

Nigeria is considering selling stakes in about 20 state-run companies in a bid to raise funds and improve governance at the entities, Bloomberg reported yesterday.

The Nigerian National Petroleum Company Limited (NNPC) is among firms the government may sell a stake in, according to the chief executive officer at the Ministry of Finance Incorporated

(MOFI), Armstrong Takang. MOFI is a state-owned asset management company.

The agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months, he told Bloomberg in a phone interview.

Before now, the federal government through the Bureau of Public Enterprises (BPE) had said that it had so far generated N1 trillion

from the sale, commercialisation, and the concession of 234 public assets in the past 32 years.

BPE’s Director General, Mr. Alex Okoh, disclosed that a breakdown of the 234 assets involved from the time of the defunct Technical Committee on Privatisation (TCPC) in 1989 to the creation of the BPE in 1999 showed that the agriculture sector accounted for 32 while in the banking and finance sector, they were 31.

The cement industry had 15, energy construction and services were 14, hotels and tourism had 13, industry and manufacturing produced nine sold assets and oil and gas 13. Others were ports (31), power (24), mines, and steel (38), automobile (eight), paper and packaging (four) as well as sugar (four).

Some of the entities “need private sector to take controlling shares,” Takang told the news

medium, adding that the major consideration for the government was to create value rather than retain control.

“It is better for us to own 49 per cent of a high performing entity than 90 per cent of an entity that is under-performing,” he added.

The proposed sales are the latest move by President Bola Tinubu’s administration to overhaul Nigeria’s moribund economy. Since taking over in May, Tinubu has ended

LeadingAgenciesAffirmAfreximbank’s International Ratings The GCR Ratings (GCR) has affirmed Afreximbank’s international scale long and short-term issuer ratings of A and A2 respectively, citing its assessment of the bank’s strong Preferred Creditor Treatment (PCT) track record in its member countries, as well as its growing systemic relevance to the continent.

The ratings also reflected Afreximbank’s strong capitalisation, sound risk position and robust liquidity. Further to GCR’s ratings, Japan Credit Rating Agency, Ltd. (JCR) also affirmed the bank’s Long-Term Issuer Rating at Awith “Stable” outlook, based on the bank’s proven ability to raise capital from its member states and its counter-cyclical role in supporting member countries when economic conditions are most challenging.

These were disclosed in a statement yesterday.

President of Afreximbank, Prof.

Benedict Oramah, while commenting on both reports said: “I am delighted by both GCR and JCR’s affirmation of our strong credit ratings and outlook. These serve as validations of Afreximbank’s considered, careful approach to supporting our member states and the wider African continent, and our commitment to see Africa industrialised while enabling trade of high value goods and services amongst African States.”

The ratings affirmations were a significantly positive event for the bank as it supports its continued development work by enabling it to leverage competitively priced international finance into the continent as well as deploying unfunded instruments to accelerate industrialisation and trade.

“Moreover, the ratings affirma-

tions are particularly pivotal at the present time, when Afreximbank’s member states require focused and sustained support to navigate an extremely challenging macro-economic environment and capitalise on the opportunities presented by the recently operationalised AfCFTA,” the statement added.

Afreximbank Group Treasurer & Director of Treasury and Markets, Mr. Chandi Mwenebungu said: “The GCR and JCR ratings are a strong testament to Afreximbank’s development mandate on the continent. We are committed to continuing to build a solid platform to deepen our partnership with clients and member states, to deliver sustainable growth and development.

“This rating proves our risk discipline and continues to show that our capital and liquidity is

strong. As we embrace the future, we remain poised to chart a path of progress and prosperity for the continent.”

In justifying its ratings affirmation, GCR noted Afreximbank’s risk position as ratings positive, buttressed by non-performing loans (NPLs) that compare favourably to rated peers and further cited the Bank’s loan book as exhibiting strong recovery fundamentals.

“GCR’s analysis confirms the strength of Afreximbank’s record in de-risking its lending portfolio through innovative and

Despite Prevailing Market Conditions, Investors Bid N312.56bn for FGN Bonds

Seplat Energy yesterday confirmed the death of one person and the rescue of 92 others after its oil drilling rig ‘Majestic’ was involved in an incident in Ovhor in Okpe, Delta State.

However, THISDAY, at the time of putting this report together last night, learnt that three persons aboard the facility were still missing while many of the rescued were receiving treatment.

Announcing the incident in a statement signed by its Chief Executive Officer, Mr. Roger Brown, Seplat noted that in all, 96 persons

Ndubuisi Francis in Abuja Despite the current market conditions, investors showed strong appetite for FGN instruments which were put on offer yesterday by the Debt Management Office (DMO).

The four instruments which were offered to investors received total subscription of N312.56 billion.

The auction included 14.55 per

cent FGN April 2029, 14.70 per cent FGN June 2033, 15.45 per cent FGN June 2038 and 15.70 per cent FGN June 2053, each for N90 billion.

The DMO revealed that amid monetary policy tightening and uncertainties, investors’ appetite for the 15.70 per cent FGN June 2053 (30-year bond) remained strong, with a bid-to-cover ratio of 2.71 times.

The amount allotted to successful bidders for the four instruments was N227.76 billion, the DMO said in a statement issued last night.

Allotments were made at 13.85 per cent for the 14.55 per cent FGN April 2029, 15.00 per cent for the 14.70 per cent FGN June 2033, 15.20 per cent for the 15.45 per cent FGN June 2038 and 15.85 per cent for the 15.70 per cent FGN June 2053.

astute balance sheet management, which include the deployment of structured finance models, the use of high-quality collateral, and leveraging credit risk insurance from minimum “A” rated insurers.

“JCR also notes Afreximbank’s important role in advancing various strategic initiatives in collaboration with the African Union (AU), and the strong support of its shareholders for the Bank's operations and ongoing general capital increase.

“JCR holds that the bank will maintain its financial base through its solid earnings capacity,” it added.

costly gasoline subsidies and is revamping the nation’s multiple exchange-rate system. Nigeria’s dollar bonds due 2047 have rallied since his inauguration.

Founded in 1959, the MOFI manages Nigerian government investments in about 130 assets across sectors such as infrastructure, financial services, energy and industries, according to its website.

Former President Muhammadu Buhari in January appointed new management led by Wale Edun, who is an adviser to Tinubu.

The agency is in the process of appointing consultants including valuers, financial advisers, lawyers, bankers and others to handle different aspects of the transactions, Takang said.

Nigeria has successfully disposed of some public assets in the past, including the sale of Nigerian Aviation Handling Company Plc, an airport services provider.

However, some of the sales haven’t met expectations, particularly in the power sector.

Nigerian regulators and banks have taken over companies that account for more than half the West African nation’s electricity grid after they failed to pay their debts, the report said.

One Dead, Three Missing, 92 Rescued in Seplat Oil Rig Incident Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

were on board when the incident happened.

“Seplat Energy regrets to announce a serious incident on the Depthwise swamp drilling rig ‘Majestic’ in the early hours of this morning. Seplat as the operator of the Seplat/NNPC joint venture contracted the rig.

“It was in transit to its planned drilling location at Ovhor in Delta State when it capsized. 92 of the 96-member crew are accounted for and safe,” it added.

However, Seplat noted that tragically, one fatality occurred during the incident, while three other rig personnel were still missing.

“Our thoughts and prayers are

with the families and friends of the crew member who sadly lost his life and the three crew members who are still missing at the time of this report.

“Our emergency response and rescue efforts working alongside the rig owner and the authorities have been activated and are onsite.

Our utmost priority will continue to be the safety and wellbeing of all the affected personnel and their families,” the statement stressed.

The energy firm pledged to continue to provide further details as its understanding of the incident develops. “A detailed investigation into the cause of the accident will follow,” it stressed.

6

WEDNESDAY AUGUST 16, 2023 •T H I S D AY

WEDNESDAY AUGUST 16, 2023 • T H I S D AY

7

8

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

GOOGLE EXECUTIVES VISIT SHETTIMA...

L-R: Google Director, Government Relations and public policy, Charles Murito; Director, West Africa, Mr. Olumide Balogun; Vice President Kashim Shettima; Manager Google Organisation, Ms. Tamilore Oni and Deputy chief PHOTO: GODWIN OMOIGUI of staff to the President, Alhaji Ibrahim Hadejia, during a courtesy visit by Google Executives to the vice president in his office at the presidential villa, Abuja ... yesterday

Tinubu: Death of Military Officers, Soldiers in Helicopter Crash Saddens Me Immensely Salutes deceased’s sacrifice, devotion to nation President may inaugurate cabinet Monday Deji Elumoye in Abuja President Bola Tinubu, yesterday, said the death of military officers and soldiers in the Air Force helicopter that crashed in Niger State this week, brought immense sadness to him.

While mourning the death of the gallant military officers and men, the

President in a release personally signed by him on Tuesday evening, praised the deceased for their sacrifice and devotion to the nation.

Meanwhile, the president may likely administer the oath of office on the 45 ministers-designate cleared by the Senate last week.

Tinubu in the release stated: "The

ICPC: Pressure on Public Officials Fuelling Corruption Kingsley Nwezeh in Abuja Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye, yesterday, attributed the rising level of corruption in public office in Nigeria to pressure from the citizenry.

Owasanoye made the assertion in Abuja at a "National Policy Dialogue on Corruption, Social Norms, and Behaviour Change" in Nigeria organised by ICPC, in collaboration with the Anti- Corruption Academy of Nigeria, supported

by MacArthur Foundation.

Owasanoye expressed concern about the prevalence of corruption in the country, and noted that people expected public office holders to confer on members of their communities benefits from the offices they occupied, regardless of whether such benefits were corrupt practices in themselves or they came from the proceeds of corruption He said, “The timing of this Policy Dialogue on Corruption, Social Norms and Behaviour Change in Nigeria could not have come at a better time than

now, when the foundation of our social values and norms has become seriously threatened.

"In actual fact, a lot of changes are taking place across the wider Nigerian society. But more worrisome, to me, is the emergence and pervasive spread of corruptioninducing social norms across all ethnicities and religious divides.

“In spite of widespread cultural and religious perception of corruption as a negation of societal values, a survey carried out by ACAN-ICPC in 2020 revealed that corruption among public servants is enabled by community ambivalence towards the proceeds of corruption.”

In his remarks, President of the Nigerian Bar Association (NBA), Yakubu Maikyau, said NBA was ready to support ICPC in its effort to stamp out corrupt practices in society.

Maikyau emphasised the need to discourage corrupt practices and begin to interrogate those who suddenly became rich in society, to know the source of their wealth.

He said this measure would help to revive the lost social norms and values in society.

tragic loss of our gallant officers and soldiers in a helicopter crash at Chukuba Village near Shiroro, Niger State, yesterday, brought immense sadness to me.

"These officers and men were answering the call of duty while on an evacuation mission. In their dedicated service to our beloved country, they paid the ultimate price.

"While we mourn their untimely departure, we will forever remember them, not just as servicemen, but as national heroes who gave their all for the peace and security of our country.

“They will always be remembered as courageous men, who did not consider the perils and dangers of their national duty as paramount to their sacred mandate of ensuring that their fellow countrymen and women can live in peace. We salute their sacrifice, devotion and loyalty to our dear nation - the nation they loved and served to the end.

"On behalf of a grateful nation, I extend my condolences to their

families, the Chief of Defence Staff, the Chief of Air Staff, the Chief of Army Staff, the Chief of Naval Staff, and the entire Armed Forces of the Federal Republic of Nigeria.

This nonetheless, a top Presidency official, yesterday, evening confirmed to THISDAY that all was set for the inauguration of the new Federal Executive Council (FEC) at the Council Chambers of the State House, Abuja.

The portfolios of the ministers were, however, being kept close to the chest of President Tinubu and would only be made public at the venue of the inauguration.

The official, who pleaded anonymity, said all the ministers-designate had been informed about their inauguration next next and likely on Monday.

He also informed that the office of the Chief of Staff to the President, Hon Femi Gbajabiamila, was coordinating the inauguration exercise, which would be followed by the inaugural meeting of the FEC next Wednesday.

The FEC meeting, the official said, would also be followed by a retreat for all the new ministers and made to sign a service charter of commitment to faithful implementation of the Renewed Hope Agenda of the administration of President Tinubu.

The 45 Ministers-designate to be inaugurated include Abubakar Kyari (Borno State); Abubakar Momoh (Edo); Nyesom Wike (Rivers); Nkiru Onyeojiocha (Abia); Prof. Joseph Utsev (Benue); Sen. John Enoh ( Cross River); Bello Muhammad (Sokoto); Mohammed Badaru (Jigawa); Amb. Yusuf Tuggar, (Bauchi); and Uju-Ken Ohaneye (Anambra).

Others include Dr. Olubunmi Tunji-Ojo (Ondo); Dr. Betta .Edu (Cross River); Imaan Sulaiman (Nasarawa); Ahmed Dangiwa (Katsina), Chief Uche Nnaji (Enugu); Abdullahi Gwarzo (Kano); Simon Lalong (Plateau) and Bello Matawalle (Zamfara), Tunji Alausa (Lagos) Adegboyega Oyetola (Osun); Uba Maigari Ahmadu (Taraba); Lola John

CIBN: No Govt Can Thrive Adopting Free-floating Exchange Rate Gilbert Ekugbe The Lagos State Chapter of the Chartered Institute of Bankers of Nigeria (CIBN), has stressed that no government in the world practices a free-floating exchange model to achieve a stable currency regime.

Speaking at a press conference to herald its 2023 Lagos Bankers Nite with the theme: "Exchange Rate Unification: Local implications

for Households, Organisations and the Country,” scheduled to hold on August, 18, 2023, the Branch Chairman, CIBN Lagos State Branch, Mr. Adeyemo Adeoye, said rather than allow free-floating of the naira for the currency to be left entirely to the forces of demand and supply, adopting a managed float system would be desirable.

He expressed concern that since the unification of the forex rates,

the gap between the official and parallel market rates has risen to over N200.

"In other climes, they reduce the supply of currency in the nation, by increasing the reserve ratio of banks.

Naturally, you will see the impact on the value of the currency, but we have a peculiar economy here.

“The gap between the parallel market and the official market, the average is about five per cent in

Stakeholders Brainstorm on Adoption of Electric Vehicles in Nigeria Emma Okonji Giving the rising needs to achieve carbon zero emission and reduce the high cost of maintaining internal combustion engine vehicles, Microsoft Garage, in collaboration with the United States Embassy in Nigeria, have organised a stakeholders’ forum in Lagos, to brainstorm on the possible production and adoption of electric vehicle and its accessories including the establishment of charging facilities in Nigeria.

Microsoft Garage said the forum was organised to gather more information that would enable it build on its Electric Vehicle (EV) Hackathon.

Stakeholders who attended the

forum gave narration on what their companies were already doing and the challenges they were facing in the areas of electric vehicle assemblage, transmission system production, establishment of charging facilities and importation of EV batteries, among others.

They, however, stressed the need for collaboration among indigenous players in the EV space in order to produce affordable electric vehicles for Nigerians that would be sustainable, safe with high performance output and easy to maintain.

Addressing stakeholders at the forum, the US Undersecretary of Commerce for International Trade, Marisa Lago, who led the US International Trade Mission

(Lagos); Dr. Isiak Salako (Ogun); Sen. Heineken Lokpobiri - (Bayelsa); Dr Yusuf Sununu (Kebbi); .Prof. Tahir Mamman (Adamawa).

Others are Zephaniah Jisalo (FCT); Ibrahim Geidam (Yobe); Dr. Bosun Tijjani (Ogun); Shuaibu Abubakar (Kogi); Sen. Sabi Abdullahi (Niger); Atiku Bagudu (Kebbi) Sen.Alkali Ahmed (Gombe); Dr. Mariya Mahmoud (Kano); and Festus Keyamo (Delta), Hannatu Musawa (Katsina); Dr. Doris Aniche Uzoka (Imo) David Umahi (Ebonyi); Ekperipe Ekpo (Akwa Ibom); Dele Alake (Ekiti); Lateef Fagbemi (Kwara), Muhammad Idris (Niger); Olawale Edun (Ogun); Adebayo Adelabu (Oyo) and Prof.Ali Pate (Bauchi).

The senate had screened 48 senatorial nominees at the end of which 45 of them were given clean bill of health while three others, including former governor of Kaduna State, Nasir el-Rufai, would still need to undergo further security screening before their confirmation.

to the stakeholders’ forum, said: “Your well-deserved reputation as innovators is the primary reasons that I am in Nigeria, leading a Trade Mission comprised of minority- and veteran-owned businesses.

“These cutting-edge US companies are eager to find opportunities to expand business relationships with Nigerian counterparts.”

She said Nigeria must identify and overcome the barriers that could be obstacle in achieving EVs adoption and stated some underlying themes that would be central to achieving widespread EV adoption in Nigeria, such as supportive infrastructure for widespread adoption of EVs; availability of charging stations and the cost of EVs, which she said were

still relatively high compared to conventional vehicles.

She stressed the need for supportive regulatory framework of consistent policies, standards and regulations that are aligned with international best practices that encourage investment and innovation.

Head, Corporate Communications at Innoson Vehicles, Mr. Cornel Osirwe, said Innoson Vehicles slowed down in producing electric vehicles because of unavailability of batteries, which he said remained quite expensive.

He however said companies could come together to produce batteries locally, since the raw materials are available in Nigeria.

President, Association of Renew-

able Energy of Nigeria, Mr. Ayo Adegbiluwa, said the association was already working with electric charging stations that use solar, to drive adoption of electric vehicles in Nigeria.

Head, Mobility and Project at Sterling Bank, Mr. Akin Akingbogun, said the bank would focus on partnership that would convert internal combustion engine vehicles to electric vehicles, and stressed the need for the availability of charging stations across the country.

Other stakeholders stressed the need for collaboration, financing, capacity building, regulation, standardisation, security and safety in order to drive widespread adoption of electric vehicles in Nigeria.

other developed economies,” but unlike in Nigeria, he stressed that the gap is so wide.

He, however, urged the Bola Tinubu -led administration to look inward by prioritising investment to boost the nation's productive sectors.

Speaking on the Bankers ' Nite, he said the annual event has over the years, been an avenue of social gathering for high profile bankers in Lagos state, financial industry leaders, key stakeholders in the Nigerian economy, captains of industries and topmost opinion leaders in the society.

"It is an annual event where major financial policies are reviewed and new focus articulated. With well over 500 high profile banking/ financial practitioners and other institutions in attendance, the 2023 Lagos Bankers’ Nite provides an ample avenue for effective networking and a platform for collating and aggregating ideas that could form key inputs that can help the government navigate the prevailing exchange rate management process," he said. nt to encourage you to give this event maximum publicity and mentions, so that more Nigerians can benefit from this important event, in view of the current economic situation," he urged.

WEDNESDAY AUGUST 16, 2023 • T H I S D AY

9

10

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

TRANSFORMING NIGERIAN YOUTHS...

L-R: Lead, Workplace and Gender Banking, Wema Bank, Abiola Nejo; Executive Director, Retail and Digital Business, Wema Bank, Tunde Mabawonku; Director, Enterprise Development Center (EDC), Nneka Okekearu; and Divisional Head, Retail, Wema Bank, Ayodele Olojede, at the Press Conference on Transforming Nigerian Youth Program organized by Wema Bank in partnership with EDC and PHOTO: ETOP UKUTT MasterCard Foundation in Marina, Lagos ...recently

NEITI Proceeds with Plan to Probe Data on Petrol Consumption, 13% Derivation Emmanuel Addeh in Abuja and Peter Uzoho in Lagos To know the actual volume of petrol consumed by Nigerians daily as well as the prudence in the deployment of the 13 per cent derivation by Niger Delta states, the Nigeria Extractive Industries Transparency Initiative (NEITI)

yesterday, said it was ramping up efforts to carry out a study in that direction.

Speaking during a presentation at a consultative forum with civil society and the media in Abuja, the Executive Secretary, NEITI, Dr Ogbonnaya Orji, said the study would help determine if the states were getting their fair share of the

revenue.

The event also afforded the executive secretary the platform for NEITI to present a ‘Status Report’ on EITI implementation in Nigeria, seek wider inputs and views of civil society and define the way forward.

Orji added that the planned research would also assist the

organisation in finding out if the government was paying what they should to the beneficiaries as well as provide critical data required to monitor how much is being allocated monthly to oil-producing states and their management.

While operators in the sector say the volume of petrol leaving the depots are known, however

the actual consumption figure remains a subject of controversy.

On the other hand, there is a public perception that the statutory 13 per cent derivation handed out to oil-producing states monthly is largely shrouded in secrecy.

Orji said: “It’s a special report we are commissioning this year alongside the oil and gas report.

Oshiomhole: Tinubu Inherited Terrible Economic Situation Declares no quick fix to nation's economy Says govt servicing debt with 96% of national income

Deji Elumoye in Abuja A former National Chairman of the ruling All Progressives Congress (APC), Adams Oshiomhole, yesterday, declared that there was no quick fix for the nation's economy by the President Bola Tinubu's administration because he inherited a bad situation.

Oshiomhole, who represents Edo North senatorial district in the National Assembly made this

disclosure Tuesday after meeting with Vice President Kashim Shettima, at the State House, Abuja.

The former governor of Edo state, who said he was on a friendly visit to the vice president said he did not discuss the nation's economic issues with him, but claimed that the government was working.

According to him: "The issues of the economy is work in progress.

There is no quick fix. The government inherited a terrible economic

situation. The government inherited an economy in which our total national revenue was barely enough to service our debt burden, spending 96 per cent, which is to say every N100k Nigerian earn, 96k is going to repay debts, to service debt.

“So, you have only 4k left to pay all the salaries. So, nothing can be worse.

"But they came determined that they will have to do business unusual; to arrest the drift; stabilise

Abia Judicial Panel Begins Probe, Vows to Go after Looters Emmanuel Ugwu-Nwogo in Umuahia The Judicial Panel of Enquiry set up by Governor Alex Otti to probe the immediate past administration commenced its sitting yesterday, vowing to adhere strictly to its terms of reference and go after proven looters.

Otti had on June 27, 2023, set up the six-member Judicial Panel of Enquiry on the Recovery of Government Properties, Funds and Related Matters and gave it the task of recovering looted government properties and funds.

Speaking at the inaugural sitting of the Panel, the chairman, Justice Florence Duruoha-Igwe (rtd), underscored the importance of its assignment, saying it was "both investigatory and advisory."

"It is important to mention that this Panel of Enquiry, though quasi-judicial in nature, is not a court properly so called," she said, adding that the panel was neither engaging in inquisition nor

witch-hunt of anybody.

"Nobody is on trial, rather, we are here to find out what happened to the funds and properties (movable and immovable) of Abia State between May 2015 and May 2023," the Panel chairman said.

While pledging that the Panel would live up to expectation, the Chairman emphasised that it would conduct its investigations in the open and, "property advise the governor."

Though the Judicial Panel is not a court in the real sense of it, the chairman stated that members "shall exercise all the powers with regard to obtaining evidence and conduct of the proceedings."

According to her, the exercise of this power was in line with the provisions of Section 8 of the Commission of Inquiry Law Vol. 1, Cap 69, Laws of Abia State of Nigeria, 2005.

The Attorney General and Commissioner for Justice, Ikechukwu Uwanna, who was on hand to witness the inaugural sitting of

the Panel, alleged that high level of looting had occurred in the state hence the need to halt the ugly trend and sanction those responsible.

the economy and then begin to move forward. Some painful decisions are necessary.

"Already, the executive—the president and vice president— they’ve shown courage in terms of the decisions they have taken, a radical movement away from one in which if you are well connected you could make billions without adding value to one in which if you want to make money, you have to work.

“We move away from a situation where CBN can favour you and you become a billionaire; of which they can pauperise you and your business collapses.

"Yes, it has created its own challenges, but I don’t know of any drug without side effect. Doctors will always tell you that every drug might cure your ailment but it will have a side effect.

“So, in taking it you have to do cost and benefit analysis. On the whole, I believe that the broad

economic, specific macro-economic policies that have been put in place so far both in terms of monetary policies and in terms of fiscal policies is the best way to start.”

He added: "You remember just recently a Minister of Finance distanced herself from the monetary policies of a CBN Governor and they were not talking. If the hand and the leg are not walking in harmony, then there is no way you can get to your destination.

So, I think we are in a better situation now.

"But my plea to Nigerians is, when I say I will bail you out, I will fix a complicated system that is malfunctioning, I believe everyone knows that the more terrible the situation is, the more time I will require to take the right decision.

“Given the paucity of data and all the other basic infrastructure you need to take some quick decisions that are not pleasant but decision has to be taken."

We are also commissioning a study on the actual PMS consumption in Nigeria. It is an independent report to establish the quantity of fuel Nigeria consumes and its costs, it will be used to manage the sector as subsidy is removed.”

In other matters, the executive secretary noted that NEITI received the EITI draft validation report of Nigeria’s progress in implementation, reviewed the draft report and had sent its comments to the EITI. “The final report is being awaited from the EITI,” he stated.

He expressed joy that NEITI made inputs to the handover notes to President Bola Tinubu and also submitted copies of the policy advisory on the cost of fuel subsidy to the nation to the president through the office of the federal government’s scribe.

He noted that NEITI also sent a policy advisory on the way forward in the ongoing reforms in the oil, gas and mining industry to the president and the National Assembly.

With the recent dissolution of the National Stakeholders’ Working Group, he noted that NEITI was making a strong case to government to exempt it from dissolving all the federal boards, citing the existing framework and peculiar nature of NEITI operations.

According to him, the process for the conduct of the 2022-2023 industry reports has commenced with the reconciliation and update of all data and information on financial liabilities, including outstanding revenue remittances to the federation.

Ondo Assembly Passes Bill for Creation of 33 New LCDAs Fidelis David in Akure The Ondo State House of Assembly has passed a bill for creation of 33 New Local Council Development Areas (LCDAs) in the State into law, after it passed the third reading.

This comes despite protests from some communities who described it as a political exercise aimed at ceding their ancestral lands to other communities.

The newly created LCDAs are to co-exist with the existing 18 local governments in the state while the passage of the bill into law, brings to 51 the total number of Local Councils in the state.

The Governor of the State, Oluwarotimi Akeredolu had transmitted a bill for the creation of LCDAs, to the House for ratification and was thereafter was subjected to a public hearing after being committed to the Committee of the whole House.

But presenting the report of the committee at plenary yesterday, the Deputy Speaker, Abayomi Akinruntan, stressed the need to consider the cultural homogeneity of the people in boundary demarcation of the new LCDAs, adding that the state Surveyor General should be mindful of this.

The Majority Leader of the House, Hon. Ogunmolasuyi Oluwole, moved

a motion for the passage of the bill into law and was seconded by Ogunlana Christopher.

The Speaker, Oladiji Olamide saluted the visionary leadership of Governor Oluwarotimi Akeredolu for choosing to tow the line of other southwest states which had earlier created their LCDAS with a view to fast-track development at the grassroots.

While saluting the governor for the creation of the new LCDAs, he expressed optimism that all noticeable observations and recommendations by the House would be effected as appropriate.

Oladiji, appealed to people of

Ondo State to keep hope alive and eschew acts that could generate undue rancour which can jeopardise the reigning peace in the state.

“Let me appeal to the good people of Ondo State to please keep their hope alive as current position of the House is not an end in itself but a means to a positive end," Oladiji added.

In the new local government reform, Akoko has five LCDAs, Akure and Owo have four each while Ondo and Ilaje have three each. Idanre, Ose, Ile-Oluji and Okitipupa have two each while Ifedore, Ese-Odo, Odigbo and Irele have one LCDAs each in the reform.

11

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

ELEVEN

Shettima: Our Govt Committed To Deepening Nation's Democracy Receives IPAC team at State House Deji Elumoye in Abuja Vice President Kashim Shettima has assured that the present administration in the country remains strongly committed to deepening democracy in the country, saying all Nigerians must work together to nurture the nation’s democracy.

Shettima stated this Tuesday when he received on a courtesy visit some leaders of the Inter-Party Advisory

Council (IPAC) at the State House, Abuja.

According to the Vice President, “ours is a young nation, a young democracy and there has to be a sense of belonging, a sense of inclusivity by all component units in the federation. The beauty of democracy is that it is about inclusivity, it is about give and take and as such the Tinubu administration is strongly committed to deepening

our democratic values.”

Addressing the delegation led by the National Chairman of IPAC, Yabaji Sani, Shettima commended the role played by IPAC towards ensuring that there is stability in the polity.

His words: “IPAC deserves some commendation, we value you, IPAC keeps our democracy going, you deserves commendation.

Honestly, I will strive to nurture

and strengthen this relationship with the full confidence and backing of my principal.

The Vice President told the delegation that though the country was going through some challenges at this time, he was optimistic that given the policies and decisions that have been taken by the new administration, it is a matter of time that the country will soon overcome these economic challenges, especially those related

to the removal of fuel subsidy.

He said the President has a lot of regards and empathy for Nigerians.

According to him: “In the coming months, the economy will stabilize and Nigerians will come to appreciate the policies of the Tinubu administration. The government has a robust plan in the pipeline for addressing these economic challenges facing the country presently.”

Earlier in his remarks, Yahaya

Sani congratulated the Tinubu administration on its inauguration and expressed the readiness of IPAC to support the new administration to move the country forward.

He said IPAC is for national unity, inclusivity and dialogue, adding that opposition parties need to contribute to the progress of the country while affirming his trust in the ability of President Tinubu to transform the country.

As the exchange rate continues to depreciate, the governors are getting more naira cash, which they are using mount pressure on the forex market.

Nigeria Labour Congress (NLC) had on Monday stated that its members would commence a nationwide strike without any formal notice if the federal government approved another increase in the pump price of petrol without conclusion of ongoing negotiations. The warning came after oil marketers disclosed that the price of petrol might rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade around N950 to a dollar at the parallel market. The last time the price of petrol was increased from N520 per litre to N617 per litre, Group Chief Executive Officer of the NNPC, Mele Kyari, had said market forces and the exchange rate were responsible for the increase.

Kyari had said, “What I know is that the market forces will regulate the market; prices will go down sometimes, sometimes it will go up, but there will be stability of supply. I am also assuring Nigerians that this is the best way to go forward so that we can adjust prices.”

Reacting to the president’s statement that there won’t be further petrol price increase at the moment, Chief Executive of Cowry Assets Limited, Mr. Johnson Chukwu, said it “simply means that subsidy is coming back. It simply means that the market forces that are supposed to be deciding the prices of petrol have been suspended.”

Chukwu explained on a national television, “If we are suspending market forces, that means that the pains we have gone through to eliminate subsidy has actually been for nothing.

I think what the government needs to do is to address the reasons why we are seeing such jump in petrol prices, which is actually the issue of exchange rate.

“You cannot allow two variables to move at the same time. The appropriate thing would have been if the government was able to handle exchange rate, then we would be dealing with global market movement in the prices of petroleum products, and then we would have been dealing with marginal increment and marginal decrease in the price of petrol.”

Meanwhile, Kenya yesterday reinstated what the country termed small subsidy to stabilise retail fuel prices for the next 30 days. The country’s energy regulator disclosed the reversal of the government policy following public anger over the high cost of living.

But in Nigeria, in their various reactions to the ongoing situation, stakeholders, including marketers and manufacturers, although cautious about calling for a return to a subsidy regime, noted that the subsidy removal policy was not well thought-out, especially considering the handling of the fallout of the decision.

However, Tinubu allayed the fears of Nigerians about possible increase in the price of petrol, saying his administration is not contemplat-

ing any such move. Ngelale, who disclosed this to newsmen at State House, Abuja, after meeting with the president, said Tinubu assured Nigerians that nothing like that was being contemplated.

According to Ngelale, "This morning, I have the privilege of sitting down with His Excellency, President Bola Tinubu, as we discussed the current unfolding situation in the country as it relates to fuel supply and demand.

"The official position is that there is no increase in prices at this time and Mr. President is convinced based on information before him that we can maintain current pricing without reversing our deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector.”

The media adviser also said the president expressed concern about the strike threat issued by NLC, which he described as premature.

Ngelale stated, "The president wishes, first, to state that it is incumbent upon all stakeholders in the country to hold their peace.

We have heard very recently from the organised labour movement in the country with respect to their most recent threat.

"We believe that the threat was premature and that there is a need on all sides to ensure that fact finding and diligence are done on what the current state of the downstream and midstream petroleum industry is before any threats or conclusions

are arrived at or issued."

He said the president intended to ensure that no single individual or organisation dominated the sector.

Ngelale said the government would address the inefficiencies in the midstream and downstream petroleum value chain so that price would be stabilised.

He presented a chart to try to prove that the cost of petrol was still cheaper in Nigeria than other West African countries.

Ngelale said, "Mr. President wishes to assure Nigerians following the announcement by the NNPC Limited just yesterday that there will be no increase in the pump price of premium motor spirit anywhere in the country.

"We repeat; the president affirms that there will be no increase in the pump price of premium motor spirit.

"We also wish to affirm that the president is determined to maintain competitive tension within all subsectors of the petroleum industry.

He is determined to ensure that our policy drawn up as well as policy implemented follow the cue that there will not be any single entity dominating the market.

"The market has been deregulated.

It has been liberalised and we are moving forward in that direction without looking back.

"The president also wishes to affirm that there are presently inefficiencies within the midstream and downstream petroleum sub-sectors that once very

SUBSIDY IS GONE! LONG LIVE FUEL SUBSIDY market where the landing cost of per litre of petrol has risen above the current pump price as well as the government’s decision to jettison market forces in adjusting petrol prices suggests that subsidy on petrol may gradually be finding its way back into the system.

Precisely, the landing cost of petrol has risen to N651.75/per litre, far higher than the N617 per litre the Nigerian National Petroleum Company Limited (NNPC) had pegged the product, documents obtained by THISDAY yesterday revealed.

The development has put Tinubu under intense pressure to rethink his decision to remove subsidy on petrol.

A breakdown of the landing cost of petrol showed that while product cost, as of yesterday, was N627.82 per litre, finance cost was N11.61, and operations/administrative cost N12.32, bringing the total landing cost to N651.75 per litre. With the current market price, it means that petrol ought to sell at over N720 per litre.

Just days ago, marketers were pushing to increase a litre cost of petrol at the pump from N617 to N720 on the basis that naira had continued to slide against the dollar. therefore, the current pump price had become unsustainable.

However, sources among marketers said Government is living in denial of the challenge it is facing with regards to the subsidy issue and the near daily depreciation of the naira against the dollar. Maintaining that no company would spend its resources to import products, and then turn around to sell it below the landing price Notwithstanding the high cost of petrol importation, and with labour threatening to embark on strike without notice if the government approved another price increase, the president, yesterday, announced that his administration was not contemplating any increase in the price of the product.

The announcement was a glaring signal that the Tinubu government might have effectively jettisoned the market forces, which NNPC had said

would be the determining factor in the pricing of petrol following the removal of subsidy on the product on May 29.

NNPC also refuted any plan to raise fuel prices, despite stakeholders’ alarm about the effect of the increasingly volatile FX market.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, addressed newsmen yesterday at State House, Abuja, after meeting with the president on the issues.

Ngelale said the president assured Nigerians that there would be, “no increase in prices at this time and that Mr. President is convinced based on information before him that we can maintain current pricing without reversing our deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream petroleum sector.”

On its part, NNPC wrote on its Twitter/X Handle: “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.

“Please buy the best quality products at the most affordable prices at our NNPC retail stations nationwide.”

But Nigeria’s volatile foreign exchange market continued to worsen the effect of the recent petrol subsidy removal by the federal government on the citizenry, with prices expected to rise markedly in the coming weeks.

At the official Investors and Exporters’ (I&E) FX window, the naira, which started off with an opening rate of N785/$1, closed at N774/$1. The volume traded yesterday on the I&E window was $95.79 million, compared to $160.22 million turnover recorded the previous day. This indicated a 40.29 per cent decline in turnover.

The parallel market, which had seen increased volatility in recent times, however, appreciated yesterday by N10 to close at N940/$1, compared to the previous day’s closing rate of N950/$1. With this, the gap between the parallel market and the I & E window yesterday reduced from N206 to N169 to a dollar.

HIGHER FOOD, COMMODITY PRICES DRIVE INFLATION FURTHER TO 24.08% produces and energy also increased to 20.47 per cent year-on-year in July, representing a 4.41 percentage rise compared to 16.06 per cent in July 2022.

The rise in the core index was caused by highest in¬creases in prices of passenger transport by air, passenger transport by road, vehicle spare parts, medical services, maintenance, and repair of personal transport equipment among others.

Meanwhile, urban inflation increased to 25.83 per cent yearon-year in the review period, which was 5.74 per cent higher compared with the 20.09 per cent recorded in July 2022.

Month-on-month, the index rose by 0.75 per cent to 3.05 per cent in July, compared to 2.31 per cent in June.

The rural inflation rate also rose to 22.49 per cent year-on-year in July, representing 3.26 per cent increase compared to 19.22 per cent in July 2022.

On a month-on-month, the rural index increased to 2.74 per cent compared to 1.96 per cent in the previous month.

At state levels, the all items inflation year-on-year in July was highest in Kogi (28.45 per cent), Lagos (27.30 per cent), Ondo (26.83 per cent), while Borno (20.71 per cent), Jigawa (20.85 per cent and Sokoto (20.92 per cent) recorded the slowest rise in headline index.

Month-on-month, however, highest increases were observed in Kogi (4.99 per cent), Abia (4.12 per cent), Akwa Ibom (4.07 per cent), while Jigawa (0.16 per cent), Taraba (1.09 per cent) and Yobe (1.10 per cent) recorded the slowest rise in July.

Year-on-year, food inflation was highest in Kogi (34.53 per cent), Lagos (32.52 per cent), and Bayelsa (31.31 per cent), while Jigawa (20.90 per cent), Sokoto (21.63 per cent) and Kebbi (22.45 per cent) recorded the slowest rise in food inflation.

Also, month-on-month, food inflation was highest in Kogi (6.73 per cent), Akwa Ibom (5.64 per cent), and Bayelsa (4.59 per cent), while Taraba (-0.21 per cent), Jigawa (0.28 per cent) and Yobe (0.90 per cent) rec¬orded the slowest rise in the review period.

Continued on page 36

TINUBU: WE’RE WORKING NOT TO COMPOUND NIGER’S CRISIS group, and also promised to work with Bongo.

But the President of the Senate, Godswill Akpabio, has pleaded with the Republic of Korea to support ECOWAS in its bid to restore democracy in some African countries under the military rule.

This was as the ECOWAS military chiefs have set Thursday and Friday for further deliberations in Accra, Ghana, as parts of efforts to assess options to open to them in resolving the political impasse in Niger, following the ouster of President Mohamed Bazoum, by a junta led

by General Abdourahamane Tchiani.

Also, in solidarity with the position of the ECOWAS leadership and global allies, the German government has called on the junta in Niger to release the detained President Mohamed Bazoum and fully restore constitutional order in the country.

At the same time, the Northern Elders Forum (NEF), yesterday, called on the federal government to remove all sanctions and other measures intended to force the government and people of Niger into acquiescence.

Nonetheless, a former Minister of Foreign Affairs and Professor of Political Science, Bolaji Akinyemi, during a television programme, has described the ECOWAS intervention in Niger as a purpose to stop the spread of coups in the sub-region.

In another breath, the Coalition of Northern Groups (CNG) has warned that the threat by Niger's military leaders to bring charges of treason against the ousted president posed threat to the peaceful resolution of the crisis.

Relatedly, the UN WOMEN, an arm of the United Nations championing gender equality, has said it would soon send certified women mediators to Niger Republic

to enable them participate in the peace process initiated by the global body in resolving the crisis in the country.

However, Tinubu, according to a release by his Media Adviser, Ajuri Ngelale, said the special message of support and solidarity from President Bongo, who doubled as the Chairman of ECCAS, expressing full support for ECOWAS’ resolutions on Niger, proved once more that military interference in democratic governance was not acceptable anywhere, and no longer so in African.

"I appreciate the solidarity and support of President Bongo on the situation in Niger. We are working not to compound the problem. We have well-meaning people, who have intervened. I understand the fear of our people on any form of military action.

“We are working to keep the sanctions in place and we are following them to the letter. We are happy to know that ECCAS is with us on this.

Interference in democratic governance is not acceptable to ECOWAS," he said.

Tinubu, who promised to work with President Bongo and ECCAS to restore constitutional order in Niger, reinforced the position of the regional body not to accept any attempt by the military junta in Niger to intimidate and harass President Bazoum.

"We will work with ECCAS and keep President Bongo informed on our actions and we will continue to collaborate," the president assured the delegation.

Earlier, the Special Envoy commended the leadership of ECOWAS and President Tinubu for the steps taken so far to restore democracy in Niger, adding that President Bongo and ECCAS were fully in support of all ECOWAS’ resolutions.

According to him, "President Bongo

has been following your efforts and those of other ECOWAS leaders on the situation in Niger. President Bongo and ECCAS strongly condemn coup in Niger. He sent me here to tell you that he supports ECOWAS and your leadership in what you are doing to ensure democratic governance is restored in Niger.

“With Boko Haram attacks in Cameroon, piracy in Gulf of Guinea and the refugee situation in Chad, whatever happens in West Africa affects Central Africa. My President joins efforts with you and ECOWAS to find solution to the crisis in ECOWAS." The envoy promised to communicate the firm solidarity between ECCAS and ECOWAS to the military authorities in Niger as they meet in the coming days.

Senate to S’Korea: Help Restore Democracy in African

The Senate has urged the Republic of Korea to support ECOWAS in the collective bid to restore democracy in some African countries under the military rule.

Senate President Godswill Akpabio made the appeal yesterday, when the Special Envoy of the Speaker of Korea National Assembly, Hon. Suh Byung Soo, paid him a courtesy visit at the National Assembly in Abuja.

Akpabio explained to the police envoy that President Bola Tinubu was determined to turn Nigeria into a country that gives aids just like the Republic of Korea, from a country that receives aid.

He said, “We are here to support the Economic Community of West Africa States’ efforts in restoring democracy to many countries in West Africa and beyond.

“We hope that South Korea will work closely with Nigeria in that

regard to ensure that democracy thrives, not just in West Africa, but in the whole of Africa, being the best form of government that guarantees development, freedom of speech, and freedom of association.

“That is what Nigeria stands for and I believe strongly that that is what would make for a stable economy going forward,” Akpabio said, congratulating South Korea on its 45 years of independence, which coincided with the visit.

The leader of the delegation, Hon Soo, noted that August 15th is a meaningful day to Korea being the day the country was liberated and became independent, and called for the establishment of the KoreanNigeria parliamentary friendship group to boost the relationship between the two countries.

“Unfortunately, five years later, there was a Korean War that broke out in 1950.So, after three years of the Korean War, the Korean Peninsula was totally destroyed.

“But thanks to the international aid and also Koreans eagerness for education and hard work, we could recover from the ashes of the war and achieve the miracle of the Han River to become one of the top 10 countries in the world.”

ECOWAS Military Chiefs Meet in Ghana Thursday

The ECOWAS regional military chiefs have set Thursday and Friday for further deliberations on the Niger situation in Accra, Ghana.

Also, the German government have joined in the call for the immediate release of the ousted Nigerien President Mohamed Bazoum.

Reuters, an international news agency, quoted a spokesperson for Continued on page 35

12

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

OBASEKI ON THE CAMPAIGN TRAIL...

L-R: Speaker, Edo State House of Assembly (EDHA), Hon. Blessing Agbebaku; Chairman, Edo State Peoples Democratic Party (PDP), Dr. Tony Aziegbemi; Edo State Governor, Mr. Godwin Obaseki; PDP Chairmanship Candidate for Esan South East Local Government Area, Louis Imhandegbelo, in Ubiaja, Esan South East LGA.

Over 3,000 Catholics Across Africa Arrive Abuja for Conference Onyebuchi Ezigbo in Abuja As part of activities for the 5th pan-African Conference of the Catholic Charismatic Renewal holding in Abuja, about 3,000 Catholics from 13 countries have arrived Abuja Speaking to journalists in Abuja, on the aim of the conference, Chairman of the Catholic Charismatic Renewal of Nigeria, who is also the chief host of the continental event, Mr. Uche Manu, said over 3,000 delegates would be in Nigeria for the week-long event taking place in Abuja.

He said delegates would be coming from Ghana, Cameroum, Togo, Uganda, Congo, Malawi, South Africa, Sychelles ,Losetho, Benin Republic, Central Africa Republic and Garbon.

On what the conference seeks to achieve, Manu said the prayers to be offered at the event would bring healing to the sick and restore peace in places of conflict in Nigeria and Africa.

Manu also said the conference would be rounded off with an open air mass celebration at the Pope John Paul Prayer Ground along Kubwa Express Way in Abuja.

Amidst concerns over the growing insecurity, conflict and economic challenges facing African countries, the Catholic Charismatic

Renewal group said only upright leaders that are sensitive to the plight of the masses would be able to bail the continent out of the predicament.

While speaking at event, Rev. Fr. Sebastian Sami, of the Catholic Archdiocese of Abuja, said the church would use the opportunity to call upon God to raise up good leaders that are sensitive to the plight of the masses, “leaders that have fear of God and who will put the interest of the people first.”

He also said the conference, “is the coming together of the Catholic Charismatic Renewal in Africa to foster unity and peace.”

Sami added: "This conference is an opportunity for us not only to pray for Africa but to pray for the leaders that govern Africa. If you look at the current situation in Nigeria and Niger, the two nations are facing so many crisis and we believe that we cannot resolve these crises by only human effort.

"Our leaders need prayers because any single decision they take that is not good will affect the continent and the people they govern.

“It is an opportunity for us to call upon God to raise up good leaders that are sensitive to the plight of the masses, leaders that have fear of God and who will put the interest of the people first."

According to the Clergy, “the Catholic church is confident that if God fearing leaders can emerge, the continent will witness unprecedented development and poverty reduction across the land.”

Speaking on the security crisis posed by the recent coup in Niger Republic, the priest said that the leaders would need divine wisdom

to handle the matter.

According to him the issue needs to be handled with a lot of wisdom and tact.

He suggested the use of diplomacy as opposed to force of arms in resolving the conflict.

"Peace is very critical to achieving economic progress and development. Through the conference, we

Following public outcry over the deplorable state of federal roads in Nigeria and Edo State in particular, the Federal Road Maintenance Agency (FERMA), said it has embarked on repairs of failed portions of the Benin-Sagamu expressway, saying commuters would soon breathe a sigh of relief.

FERMA Maintenance Engineer in Edo State, Engr. Muktar Abdulrahim, who disclosed this yesterday, in Benin City, noted that the agency had successfully addressed the issue of punching failure (holes) on the bridge deck at Isoko camp, a notorious spot known for causing traffic congestion.

He said, "The failure on the deck has been reinstated, and we are awaiting the completion of the concrete curing period before it can be reopened for use. We use this medium to appeal to

motorists and other road users to exercise patience while the concrete undergo the curing period."

Furthermore, Abdulrahim stressed the need to address the underlying causes before tackling the failures themselves.

"We have observed that these failures are primarily due to blocked water channels, resulting in water accumulation on the roadway. To address this, we are actively desilting existing lined drains and constructing additional ones to ensure proper drainage.

"Our efforts also encompass unblocking weep holes at the Ovia bridge and introducing water channels at the bridge approach to prevent water pooling, a factor contributing to the road's deterioration.

“Once these preventive measures are implemented, we will concentrate on rectifying the failures. By addressing the root causes and then conducting the

nental Service of Communion, Dr. Fankep Alphonse, explained that the role of the Catholic Charismatic Renewal was to help in engendering unity, peace and development in countries of Africa.

He added that the group was concerned about anything that threatens the unity and peace in the society.

LG Polls: Vote PDP for Sustained Devt, Obaseki Urges Voters in Esan South-East Edo State Governor, Mr. Godwin Obaseki, has urged voters in Esan South East Local Government Area of the State to come out en masse to vote for candidates of the Peoples Democratic Party (PDP) in order to ensure sustained growth and development in the local council.

Obaseki, gave the charge while speaking to party faithful at Ubiaja, Esan South-East LGA, to canvass votes for the party’s candidates ahead of the September 2, 2023 local council election.

According to a statement, the governor, who expressed confidence that the party would emerge victorious at the polls, said his government would sustain

efforts to ensure the delivery of the dividends of democracy to the people of Edo State.

He said, “Vote PDP for development and growth. I have a chairman I can work with; it is development and growth all the way. I will build more roads, ensure the security of the people and bring development to all the sectors in Esan South East Local Government Area of Edo State.

“Vote for Louis Imhandegbelo as Chairman and I will work with him to bring more development to the people. I will collaborate to ensure the people get the dividend of democracy.”

On his part, the party's chairman-

FERMA Begins Repairs on Failed Sections of Benin-Sagamu Road Adibe Emenyonu in Benin City

want to hand over Africa to Jesus who is the Prince of peace so that peace can reign and development can take place and poverty reduced.

Sami said the main trust of the conference was for the children of God to pray for peace, security and development in the African continent.

Coordinator of Charis Conti-

necessary repairs, we are confident that the resulting improvements will stand the test of time," the FERMA official assured.

Abdulrahim disclosed that the team has also moved to the Okada area, where a water pond had rendered a section impassable for motorists, added: "Currently, we are actively working in that region.

Our plan involves extensive desilting of the existing carriageway, culverts, and lined drains.

“We will also construct additional line drains to enhance proper water discharge. Subsequently, we will proceed with repairs on the affected carriageway itself. This will entail stabilising the base using hardcore and stone base before applying an asphalt."

The maintenance engineer commended the swift response of the Acting Managing Director of FERMA, Mr. Chimezie Amos, in addressing the concerns of motorists and promptly mobilising

teams to address the failures.

He recalled that recent events, worth mentioning was the Edo State House of Assembly summons on FERMA officials to address the deteriorating conditions of the road, which not only resulted in traffic congestion but also auto accidents.

Regarding other bad sections of federal roads in Edo, Abdulrahim stated that the agency prioritised repairs based on the severity of the issues.

"We are optimistic that in the near future, we will extend our efforts to other roads to commence necessary maintenance," he assured.

In spite of the adverse weather conditions, Abdulrahim highlighted that the agency persevered and adopted innovative engineering techniques to initiate repairs promptly and alleviate the difficulties faced by users of Lagos-Shagamu road that is heavily-traveled.

ship candidate, Louis Imhandegbelo, noted, “When I become chairman, I will ensure more communities are connected to electricity. The people will not suffer from lack of potable water and good roads. We will empower farmers in the area.”

A leader in the council area, Akhere Ogbesia, thanked the governor for his faith in the people of Esan South East to deliver, as-

suring him of victory at the local government election.

Also speaking, Edo PDP Chairman, Anthony Aziegbemi, stated, “The local government is the heartbeat of Edo PDP and a local government that never fails in delivering votes for PDP in any election. The party is united here and there is no quarrel or disagreement within the party.”

NEMA Commences Distributing Relief Materials to Support FCT Households Folalumi Alaran in Abuja The federal government through the National Emergency Management Agency (NEMA) has commenced the distribution of relief materials to persons affected by flood in 2022 as well as vulnerable persons in the Federal Capital Territory (FCT).

The event with the theme: “2023 Special National Economic and Livelihood Emergency Intervention (SNELEI),” was expected to benefit no fewer than 11,101 households in the six area councils in Abuja.

Speaking yesterday, at NEMA’s warehouse, the Director General of the agency, Mustapha Habib Ahmed, said the event marked the initiation of the Special National Economic Livelihoods Emergency Intervention (SNELEI). He said it aims to provide assistance to those affected by the devastating 2022 flood disasters and the most vulnerable individuals across the nation.

He said, “Following extensive search and rescue efforts, damage assessment and initial relief measures, the federal government

approved this special intervention to aid vulnerable persons and those impacted by the floods."

He explained that, “collaborating closely with the Federal Emergency Management Agency (FEMA), NEMA conducted thorough assessments, leading to the identification of 110,101 households as the primary beneficiaries in the Federal Capital Territory (FCT).”

The support items ranged from agricultural inputs to livelihood essentials, and aim to aid households in rebuilding their lives.

Ahmed emphasised the importance of proper utilisation of the items to enhance socio-economic conditions and urged beneficiaries to refrain from selling the items.

“The agricultural inputs are designed to rejuvenate farming activities and secure our nation's food supply during economic challenges," he explained.

He acknowledged the support from Mr. President Bola Ahmed Tinubu and Vice President Kashim Shettima and FEMA for their indispensable assistance in executing this intervention.

WEDNESDAY AUGUST 16, 2023 • T H I S D AY

13

14

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

PERSPECTIVE El-Rufai: The Onus is on President Tinubu Lewis Chukwuma

P

resident Bola Ahmed Tinubu assumed office at a period in Nigeria’s history when the morale of her people is without doubt at its lowest ebb; her economy is in shambles; with people living in abject poverty and dilapidated infrastructures in need of fundamental revamp. It’s no longer news that Nigerians are no longer safe in their homes. The future appears bleak with a staggering debt crisis.

Cut to the bone, Nigeria is in a period of great social and political malaise. And worse, the country has run out of excuses.

The core existential debate is about what’s standing between the Nigerian people and the future they seek for themselves and families. It is against this backdrop that the essence of cobbling a transformative cabinet to help drive the president’s vision can best be appreciated.

But just as in ex-President Muhammad’s Buhuri era when the government functioned in disarray, so it appears the Bola Ahmed Tinubu administration is heading same direction. As it were, the Department of State Services (DSS) and the Nuhu Ribadu-led Office of the National Security Adviser (NSA), reportedly sent letters to the Nigerian Senate, allegedly urging the Red Chamber not to confirm three of President Bola Tinubu’s ministerial picks, without passing the information through the president. This is reminiscent of the Lawal Daura-led DSS days.

The focus of this analysis is on the former two-term governor of Kaduna State, Mallam Nasir El-Rufai - one of the three ministerial nominees that was not confirmed by the Senate before it embarked on its recess.

The DG of the DSS and the NSA reportedly wrote to Senate President Godswill Akpabio, advising the Upper Chamber not to confirm the nomination of El-Rufai over unstated security considerations. The Senate President, according to some authoritative sources, only read the letter to the senate at its closed-door session but surprisingly refused to share the so called report with the lawmakers, who nevertheless acted on it.

Beyond all these puzzling and seeming hockery-pockery, the constitution of a cabinet to drive the president’s vision targeting the transformation of a damaged entity like Nigeria, requires leapfrogging old-wives tattle tales and focusing on substance.

Perhaps not surprisingly, this quirky scenario is spawning conspiracy theories notwithstanding the ex-governor’s outstanding performance during the Senate confirmation hearings. Speculations range from ‘national security’ considerations to assertions that his nomination was a set-up to humiliate him despite his leading role in mobilizing Northern support which largely aided the birthing of a Bola Tinubu presidency and the rescue of the All Progressives Congress, which determined antagonistic forces were determined to destroy.

It is important to state unambiguously and quite early in this analysis that the onus for the actualisation of Mallam El-Rufi’s appointment/confirmation as a minister of the Federal Republic of Nigeria lies squarely on the desk of President Tinubu. It is a fact difficult to wriggle away from. It can hardly be said that the 45 nominees confirmed are candidates for sainthood which the Vatican has validated.

In terms of experience, capacity and courage former Governor El-Rufai of Kaduna State towers far above all the Arewa ministerial nominees of President Bola Tinubu. This assertion is made with all circumspection and respect to the Northern ministerial picks. This is notwithstanding that the highly cerebral, diminutive

El-Rufai

dynamite describes himself quaintly as an “Accidental Public Servant”.

Certainly not like your run-of-the-mill politicians who crave crude acquisition of raw power for the sake of power, Mallam El-Rufai’s bold visions are anchored on consistent principles which have come to define his life story.

As it were, only tested trailblazers with vision, knowledge and courage in this age of disruption can provide the imperative cutting-edge leadership to ensure both stability and progression.

And this is El-Rufai’s forte.

As it were, a powerful vision draws in ideas, people and other resources. It creates the momentum and will to make change happen. It inspires individuals, complementary organizations and institutions to commit, to persist and to give their best. Keying into this enduring philosophy, unassuming El-Rufai has also deployed impeccable professionalism, discipline and persistence to change the traditional narrative of subnational governance and even in the national space as Minister of the Federal Capital Territory.

El-Rufai rejects staying tamely at the end of received policy prescriptions. He covets knowledge-driven innovations, proactive engagement with stakeholders, policy makers and sure-footed action. These dimensions have been boldly mirrored in his leadership of all the professional and political responsibilities he has been entrusted with thus far.

Speculations that the NSA Nuhu Ribadu may have an axe to grind with the Kaduna State ministerial pick is not far-fetched. Though they both worked under former President Olusegun Obasanjo’s regime - and were outstanding stars of that administration - they have since parted ways. And

the NSA has wasted no time in ensuring that he keeps El-Rufai far from the seat of power.

The fact that El-Rufai may have been pegged by President Tinubu to head Nigeria’s new Ministry of Energy with the target of ending decades of puzzling energy sector nightmare maybe a major factor is catalysing powerful opposition to his confirmation. And this would arguably represent an old Nigerian story.

The creation of a new ministry for energy and power to manage the country’s vast gas resources seeks to solve the perennial problem of lack of gas to run plants and remove control of gas supply and pricing, something industry operators have long clamoured for.

The new ministry will be tasked with removing constraints to gas supply by establishing a complementary and flawlessly interconnected framework for electricity and natural gas giving the electricity sector regulator, the Nigerian Electricity Regulatory Commission (NERC) purview of the energy, not just electricity, industry.

With the creation of a new ministry for energy and appointing a swashbuckling reformer to head it, the Federal Government is signaling its intention to turn the focus away from oil, bringing together gas and power to deepen industralisation and grow petrochemicals, experts say With his gung-ho approach, El-Rufai will undoubtedly focus on the larger strategic goal of using the Electricity Act 2023 to bring Federal and State government capacities to widen energy access for Nigerians President Tinubu is believed to be considering excising gas from the Ministry of Petroleum Resources. The proposed appointment of El-Rufai, with a track record as a strong-willed reformer, to head the ministry, signals a presidential

intent for transformative changes in that crucial sector.

It was gathered that El-Rufai has already lined up a broad team of experts comprising local and international consultants and experts to develop a strategy for the new ministry. That’s typical, proactive El-Rufai. This may not have gone down well with some powerful forces that have long held Nigeria to ransom.

The new energy ministry it is believed will be tasked with removing constraints to gas supply by establishing a complementary and flawlessly interconnected framework for electricity and natural gas giving the electricity sector regulator, the Nigerian Electricity Regulatory Commission (NERC) purview of the energy industry - not just electricity sector.

El-Rufai brilliantly illuminated the issues surrounding the sector and proposed stringent measures in the electricity sector to help boost it during his senate screening session. According to him, the electricity supply situation in Nigeria has defied every government for 60 years.

His words: “Metering is a big issue; a lot of progress has been made by some of the Distribution Companies (Discos).

In the last three or four years with the support of the CBN and the World Bank, every household should have been metered, every business should be metered. Estimated billing is not acceptable. But in addition, Nigeria must take a hard stance against those that steal electricity. Those that get electricity by diverting cables; not paying, we must take a hardline stance against it if this sector is to work.

“We privatised our distribution companies, 11 of them; 60 per cent to the private sector, 40 per cent to be owned by government. The idea is that the 40 per cent is supposed to be listed on the foreign exchange so that every Nigerian will be a shareholder in it.

“But that has not happened, 10 years after privatisation, the government is still subsidising electricity in one way or the other. The last time we checked it was about N1.6 trillion in the privatised environment. This is unsustainable and unacceptable.”

Reacting, an appreciative Senator Sani Musa (APC-Niger State) had acknowledged that El-Rufai has credibility when it came to performance on every assignment he had undertaken for Nigeria.

The emerging narrative of delaying El-Rufai’s senate confirmation is already triggering some unrest in some arenas.

The Arewa Youth Consultative Forum (AYCF) has warned that the patience of the Youth must not be tested further with the refusal to confirm the nomination of El-Rufai for appointment as Minister of the Federal Republic.

A statement last week by AYCF president, Yerima Shettima, said the Youth and indeed northern Nigeria felt humiliated by the news that out of the 48 names submitted to the Senate

by President Bola Ahmed Tinubu, ElRufai is among the only three whose confirmations were differed.

The confirmation of El-Rufai as a minister in President Tinubu’s cabinet need not reach this point of radicalising the youths who are essentially opposing the forces of regression that has hobbled Nigeria.

The onus of resolving the seeming stalemate and confirming El-Rufai ministerial appointment hangs on the neck of President Tinubu who picked him in the first place. *Chukwuma, development journalist and public affairs analyst, writes from Abuja

WEDNESDAY AUGUST 16, 2023 • T H I S D AY

15

16

T H I S D AY ˾ WEDNESDAY AUGUST 16, 2023

POLITICS

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

Beyond Obaseki-Shaibu’s Face Off in Edo Adibe Emenyonu writes that there is more to the current crisis of confidence between Governor Godwin Obaseki of Edo state and the Deputy Governor, Philip Shaibu.

Obaseki

S

ince July 28, 2023 when the Edo State deputy governor, approached a federal high court in Abuja with a suit to prevent the governor of the state, Mr Godwin Obaseki, from impeaching him, the political atmosphere in the heartbeat of the nation has been charged, reminiscence of electioneering campaigns between rival political parties.

Though the present scenario has nothing to do with election or even primary elections to select candidates of the various political affiliations, but the intraparty wrangling brewing between the two top political office holders in Edo state appeared to have created division among loyalists of the two gladiators.

Last Thursday, the Abuja high court further gave Shaibu a 10-day reprieve by extending the injuction to August 22, 2023.

Speaking on the current logjam, Obaseki has alleged that his deputy is so desperate to succeed him, ahead of the state governorship election in 2024.

Obaseki in the video posted last Friday, alleged that Shaibu went to Abuja and boasted that he has connections in the National Assembly, who will help him take over as governor. He also said Shaibu contacted the leader of the APC in Edo State and offered to work with the APC to produce the next Speaker of the house of assembly.

Obaseki who spoke during a stakeholders’ meeting in preparation for the state local government elections slated for September 2, this year, said he has repeatedly told his deputy to keep his governorship ambition in check, but the latter has refused to listen.

Not only that, the Edo state governor further alleged that Shaibu has been actively engaging members of the APC at the national and state levels to negotiate his way into the ruling party.

According to him: “He (Shaibu) went to Abuja and was boasting that he has connections in Abuja, that he has people in the national assembly, that they are all with the president now, that they will take care of him if he cannot get the ticket in PDP, he knows what to do”.

He disclosed that as a demonstration of Shaibu’s mindset, he did not attend the proclamation of the state assembly and the election of principal officers, but chose to come back the same day from Abuja, and as the chief security officer of the state, I get any information I need, and have the discretion to keep quiet and use the information properly.

“My deputy called the leader in APC, telling them that that he has five members who are loyal to him and that he would like the seven members of APC to work with his five members of PDP to produce the next speaker.

“As far as I am concerned, that was not working in our common interest. Why would the deputy governor seek to have another speakership candidate outside of what the governor wants? Are we working together?

“That was when I knew we had a problem and

Shaibu that the deputy governor has become so desperate to take over, and that he would do anything, including carrying out a coup, against his governor. How can you say you are loyal and you will do such a thing?” Obaseki declared Responding to the allegations, Shaibu blamed the rift on the concerted efforts by those he called “mischief makers and political jobbers” to destabilise the state and widened the gulf between him and his boss.

Shaibu who expressed shock by his boss allegation of his desperation and a planned coup to oust him, spoke to one of his aides (name withheld), in Benin City, last Saturday and noted that “the skimish between the two is the handiwork of political seers who have sold the dummy to the governor, whom he referred to as his ‘elder brother’ with a view to provoking more crisis so they could benefit from it”.

One of Shuaibu’s aides who forwarded the briefing of his principal to newsmen, noted that he was taken aback by the governor’s outburst, describing it as preposterous for him to contemplate a coup to a man who has given him too much latitude to work with him.

Denouncing the allegations, Shaibu stated categorically that the claims were not only baseless but also malicious attempts by those hell-bent on misleading the governor with the aim of damaging his reputation and sowing seeds of discord between him and his brother governor.

He reiterated his unwavering loyalty to Governor Obaseki and the principles of the Peoples Democratic Party (PDP) to which they both belong; that it is a privilege to serve as Obaseki’s deputy, and consistently within the last six

years demonstrated his commitment to the advancement of a shared vision for Edo State, stressing that any insinuation that he harboured ulterior motives or sought to undermine the governor’s leadership was nothing short of a fabrication.

He maintained his belief in the power of teamwork and collaboration, noting that as a testament to this, himself and Governor Obaseki had worked tirelessly together to deliver on the promises they made to the good people of Edo State; that their achievements in various sectors, including education, healthcare, infrastructure, and job creation, were a testament to this collective effort and the synergy between their offices.

Shaibu clarified that as deputy governor, his role was to support and complement the governor’s agenda, not to undermine it, saying, “I have consistently advocated for policies and initiatives that align with this administration’s goals and aspirations. It is disheartening to see such baseless allegations being propagated, as they only serve to distract the administration from its primary objective of serving the people of Edo State.”

He professed to remain an unrepentant democrat who believes in the democratic process and respects the mandate given to Governor Obaseki and his humble self by the people of Edo State, insisting that the idea that he would consider a coup to overthrow a democratically elected government is not only absurd but also deeply offensive.

Shaibu therefore, urged all to approach these allegations with the skepticism they deserve just as he encouraged all to focus on the issues that truly matter to the people of Edo State—improving their lives, providing quality education, ensuring accessible healthcare, and creating employment opportunities.

He concluded by reiterating that Governor Obaseki and himself were committed to the continued development of Edo State. United in their determination to build a prosperous and inclusive society, the deputy governor called

As it is now, Shaibu is standing on the grace of Obaseki due to his antecedent of launching a fierce battle against his perceived enemy. Though he is in court, the deputy governor may not likely survive removal except on Obaseki’s magnanimity and the disposition of other stakeholders who may prevail on the governor to tamper justice with mercy.

Even if he continues to get injunctions restraining the defendants from impeaching him, the information against Shaibu is too weighty to be waved aside.

While Edo people await the outcome of the extended injunction, sources say some measures have already been put in place by the state government to checkmate Shaibu.

upon all well-meaning individuals to reject these divisive narratives and join in the quest to transform Edo State into a model of sustainable development and good governance, and that Edo State PDP politicians should embrace peace and seek unity to fight the common enemy.

Ironically, in all of this, the deputy governor has refused to tell the public why he decided to approach the court to stop his impeachment.

It is either he was being economical with the real issue on ground or not ready to say who gave him the information that Obaseki wants to impeach him which necessitated his move to approach a law court to stop the perceived impeachment.

Secondly, Shaibu cannot go to the extent of going to court to prevent being impeached under the guide of mere suspicion. Something must have gone wrong somehow between the two to have created the soured relationship which everyone is now witnessing.

Further checks have revealed that the embattled deputy governor recently has not only been absent in most state functions including Executive Council Meetings but was also not there during the selection of commissioners from his area, Etsako local government councils.

According to a reliable source, Shaibu, on that day, was said to have gone for “medical leave” but surfaced in Abuja to pursue his court injunction.

If Shaibu had contemplated the allegation of joining forces with APC to do away with Obaseki and thereafter return to his former party, the APC, the immediate past governor of the state, Senator Adams Oshiomhole foreclosed the dream on Thursday, when he sarcastically intoned in a veiled reference to the Edo deputy governor that APC as a party is neither a rehabilitation centre nor for Internally Displaced Persons (IDP) camp for distressed politicians, advising the need for Shaibu to be loyal to his boss.

Oshiomole who was in Benin on a condolence visit to the family of the Esogban of Benin, Chief David Edebiri, however, noted that regardless of the party divides, it is his wish for the state to be governed in peace and harmony because of the super party to which we all belong to, the Federal Republic of Nigeria.

As it is now, Shaibu is standing on the grace of Obaseki due to his antecedent of launching a fierce battle against his perceived enemy.

Though he is in court, the deputy governor may not likely survive removal except on Obaseki’s magnanimity and the disposition of other stakeholders who may prevail on the governor to tamper justice with mercy.

Even if he continues to get injunctions restraining the defendants from impeaching him, the information against Shaibu is too weighty to be waved aside.

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

17

T H I S D AY ˾ WEDNESDAY AUGUST 16, 2023

POLITICS

As Oyebanji Sets Agenda for Ekiti Cabinet...

Gbenga Sodeinde writes that Governor Biodun Oyebanji of Ekiti State has constituted the state executive Council with a warning to the appointees that his government will not condone indolence and sharp practices.

“I

t is no longer business as usual” was the statement the Ekiti State Governor, Biodun Abayomi Oyebanji, emphasized while addressing newly appointed Commissioners and Special Advisers during a three-day retreat held at at Bishop Adetiloye Hall, Trade Fair Complex, Ado-Ekiti, the state capital last week.

The Governor followed his words with actions that showed that he really meant business and that truly, it is not going to be business as usual.

Setting agenda for the new appointees during the retreat in Ado Ekiti immediately after they were inaugurated, the Governor made it point clear as he sets the tone for their responsibilities and expectations with emphasis on driving positive change and making significant contributions to the state, the people and the overall development the State, stressing that their stay in office will be determined by performance.

Specifically, Governor Oyebanji told them point blank that his government would not tolerate indiscipline, indolence, corruption or sharp practices, non-productivity, and poor performance.

True to his words, the Governor made real zero tolerance to indiscipline when he handed down a two-week suspension to one of the erring newly inaugurated Commissioners for leaving the retreat venue without permission.

It was the Commissioner for Chieftaincy and Home Affairs, Mr Olaiya Atibioke, who departed unannounced the venue of the retreat for members of the State Executive Council and Permanent Secretaries and was immediately slammed with two weeks suspension by the Governor with emphasis that it is not going to be business as usual.

The Governor didn’t stop at that as he further established his action by making all the Commissioners and Special Advisers to sign a performance charter at the end of the retreat with strict instructions to them that his friendship with them ended the day they took the oath of office to serve as commissioners and special advisers, adding that his relationship with them henceforth would strictly be based on service delivery.

According to him: “The only reason we are here is just to serve our people and history will be kind to us, we have been given a very unique opportunity to contribute to the development of this State and I know that none of us will drop the ball, with respect to support, the government will support MDAs to deliver on their promises as we put the responsibility on you, there is also a responsibility on government to ensure you were given tools to deliver.

“Some of you are my friends, but friendship stops the day you took the oath of office, now, we are in the era of service. Anybody that is my friend will help me to succeed, I am going to draw a line between friendship and service.

When it comes to doing the job, we will provide the resources and we’ll demand accountability for performance.

“I reiterate today, continuous stay in government is going to be premised on performance.

I will not hesitate to remove anybody that is constituting him or herself into a clog in the way, I will not blink an eye because I owe a duty to God and to Ekiti people” Secondly, the absence of one of the nominees in Ekiti State, Mr. Oladapo Karounwi, at the inauguration of the newly appointed Commissioners held at the Oshuntokun Pavilion, Government House Grounds, Ado-Ekiti which was performed by Governor Oyebanji, on Tuesday, 8th August, 2023, before holding the retreat had elicited dust and hoopla that is gradually shaking the polity.

The matter is presently taking a centre stage in all political discussions in Ekiti as it is resonating across all strata and elicited so much tension because of the time it surged and the manner with which it was spreading like a bushfire in the harmattan.

The concerned stakeholders were rattled by this owing to Karounwi’s stature within the progressive fold. He is a boisterous and experienced politician, with wide tentacles within the progressive enclave and beyond.

Going by the information filtering out from those that matter, Karounwi, a former Deputy

Oyebanji Speaker had his fate hanging in the balance. His conspicuous absence at the inauguration despite being confirmed by the State House of Assembly portrayed grave danger for his present and political future.

The quandary and travail in Karounwi’s political camp stemmed from the political crisis that suddenly broke out between his camp and other members of the All Progressives Congress in Efon Local Government. The crisis was so terrific that those who seemed to be opposed to his emergence were reportedly attacked, which some believed was an assassination attempt.

The crisis snowballed to the point that petitions were written and the security agencies are currently probing the politician. This also accounted for why his inauguration was stepped down so that it won’t be preemptive of the security agencies actions.

Like the two sides of a coin, while his absence at the event was generating dust, those who showed up and had been assigned portfolios had since been throwing parties for the people to celebrate their emergence.

But well noticed was the fact that the Governor’s choices of other Commissioners were deemed to be apt, as many of them are respectable politicians and technocrats, firmly rooted at the grassroots.

A substantial number of them are well-known party stalwarts and accomplished technocrats, who had served in several capacities as local government chairpersons, councilors, community leaders, Commissioners, ward chairmen, political group leaders, and state lawmakers.

Noteworthy also was the fact that the new Commissioners and Advisers appeared to have portfolios that give the impression that they are round pegs in round holes and it is an indication that they will perform optimally.

To corroborate the foregoing as-

sertion, Hon. Taiwo Olatubosun who got the information portfolio, is a strong grassroots politician, with a high pedigree as he has served the state in many capacities where he performed creditably well.

Olatubosun was Deputy Speaker of Ekiti State House of Assembly between 2003 and 2006. He was appointed Acting Governor of Ekiti when Governor Ayo Fayose was away for a few weeks. He was the Publicity Secretary of the APC in the state, and the last position he held was the Chairman, of the Ekiti House of Assembly Service Commission.

Also, Chief Mrs.Tosin Aluko, who gets the Environment and Natural Resources portfolio, is an ebullient politician by all standards.

She had served as the chairperson of Ado Local Government metropolis. Widely loved by her people, she is a strong politician who is well-connected to the grassroots.

Prof. Ojo Bakare, a lecturer at the Federal University, Oye Ekiti (FUOYE), who was returned as Commissioner for Arts, Culture and Creative Economy, had once served as a commissioner in the immediate past Administration of Kayode Fayemi. Going by the performing index released by that administration, he was rated to have performed well.

Bakare’s scorecard included revamping the culture and tourism sector of the state. It was during his time that fresh graduates were injected into the state cultural troupe as artistes.

Most astounding was how he took the troupe overseas for international competition, where laurels were won to the credit of the state government and Nigeria at large.

With Bakare back in the saddle at the Culture ministry, one is sure that a round peg is put in the round hole.

Meanwhile, as the newly appointed members of Governor Oyebanji’s cabinet are settling down to work, sources disclosed to THISDAY that Karounwi’s fate is hanging in the balance.

An inside source, who preferred anonymity disclosed that Karounwi’s swearing-in was stepped down to lower the political tension in Efon. The source said “Karounwi also believed in the decision, it was in order as the peace of Efon is more important than any political appointment”.

Setting agenda for the new appointees during the retreat in Ado Ekiti immediately after they were inaugurated, the Governor made it point clear as he sets the tone for their responsibilities and expectations with emphasis on driving positive change and making significant contributions to the state, the people and the overall development the State, stressing that their stay in office will be determined by performance. Specifically, Governor Oyebanji told them point blank that his government would not tolerate indiscipline, indolence, corruption or sharp practices, non-productivity, and poor performance.

Karounwi, a former Deputy Speaker of the Ekiti State House of Assembly, was among the top commissioner-nominees recommended by the Ekiti State Appointment Committee set up by Governor Oyebanji.

The reason for his recommendation is not far-fetched as he had played a significant role during the electioneering campaign towards the victory of the Governor at the poll.

As a former Deputy Speaker of the state Assembly, Karounwi did not face much heat before the lawmakers, hence he was among the list of nominees confirmed through “bow and go” that has become a parliamentary convention globally.

Sources further alleged that the sudden removal of his name was not unconnected to a strongly worded petition by the people of his town, Efon-Alaaye, Ekiti, and leaders of APC over his alleged act of indiscipline, arrogance, and high-handedness, among others.

The last straw that broke the camel’s back was his alleged involvement in the attack on three APC chieftains a few weeks ago over the struggle for a council chairmanship seat in his town.

The APC chieftains were said to be seriously injured by some thugs allegedly loyal to Karounwi in which some of them have been arrested and are facing serious prosecution.

Karounwi is, however, seen as an intelligent politician, who has the gravitas to fight back in a virulent fashion in his bid to confront any political battle. He is fighting hard to extricate himself from the web weaven around him.

At every opportunity, he kept denying the accusations and alleged connection to the attack.

He has told whoever cares to believe that he had no hand in the attack.

He said: “I don’t know anything about the matter, in fact, I was not even anywhere near Efon when the attack happened, but from my findings, it was a beer parlour argument that degenerated and caused the clash.

“I was framed up in the clash by my detractors who felt it was an opportunity for them to deal with me, but I swear, I knew nothing about it”.

According to a source close to government, the Governor was hesitant to drop Karounwi, because of their perceived closeness.

But the severity of the allegations against the politician was too grave and weighty to be discountenanced.

The Governor as an unrepentant lover of justice could not ignore such an act of indiscipline.

Since his assumption of office, Oyebanji has displayed at various times that he is an avid promoter of discipline and party supremacy.

Dropping his ally from the list of commissioners further buttressed this widespread belief.

The Governor as proof of his government’s priority for masses and most especially the grassroots charged the newly inaugurated Commissioners to be connected to the grassroots, pay attention to their political environments, and not be a “political moonlighter who is rarely seen at home.”

He further charged them to develop the right socio-political skills and emotional intelligence to manage expectations with tact and empathy.

Also in a bid to give them opportunity to share ideas and get educated about the call of public administration procedures and properly understand and dissect the six pillars of his administration, the Governor engaged them all in a retreat in Ado-Ekiti, Ekiti State, where he categorically told them to justify their presence in the government through excellent discharge of duties in their respective MDAs or be discharged of their duties or positions.

The Governor specifically emphasized, during the retreat with the theme, “Shared prosperity: From Promise to Reality”, that their continued stay in office would be guaranteed by demonstrated creative ability, ingenuity, innovative capability, and impressive performance.

He charged them to see their appointment as a call to service and not an avenue for selfaggrandizement.

With the full complement of the cabinet in place, and the Governor’s actions and activities pointing to his priorities, it is now evident that Ekiti people and particularly the grassroots will begin to see more and witness aggressive dividends of democracy and more manifestations of Oyebanji’s electioneering promises for the state and her people.

18

T H I S D AY ˾ ͯʹ˜ 2023

FEATURES

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

'Trek-a-thon' for Lagos Commuters as Fuel Price Hike Hits Hard Sunday Ehigiator writes that aside from other hardships occasioned by the removal of fuel subsidy and subsequent increase in the pump price of petrol, many commuters in Lagos have been left with no other option than to trek to their various destinations daily due to the astronomical hike in cost of transportation, thus spiking unproductivity

A

to operate at its full capacity of 210,000 bpd by 2025.

While the country hopes that the Dangote Refinery and the removal of subsidies will finally solve its downstream issues, rehabilitation is soon expected to start at the Kaduna and Warri facilities as well, but the timeframe for their rehabilitation is unclear, and definitely can’t cushion hardship currently faced

by Nigerians due to the effect of subsidy removal.

fter the Hilda Baci ‘Guinness World Record’ phenomenon, what manner of ‘a-thon’ have Nigerians not seen? From look-a-thon to cry-a-thon, dance-a-thon, snail-a-thon, tech-a-thon, laugh-a-thon, kiss-a-thon, sing-a-thon, massage-a-thon, and the latest being the government induced trek-a-thon Nigerians are currently grappling with.

Since the total removal of fuel subsidies, there has been an alarming number of Nigerians seen on the road trekking to their various destinations, even on a busy Monday morning. This is due to the effect of the increase in fuel price on the cost of transportation.

The Subsidy Scam After his swearing-in on May 29, 2023, President Bola Tinubu removed fuel subsidies in Nigeria.

Fuel subsidy was riddled with corruption, manipulation and mismanagement.

The N3.92 trillion allocated for petrol subsidy between January 2020 and June 2022 surpasses the combined federal budgets for healthcare, education, and defence throughout the 30 months.

Between 2006 and 2018, Nigeria spent about N10 trillion on petroleum subsidies.

It gulped N5.82 trillion between 2021 and 2022 and N3.36 trillion being proposed for the first six months of 2023.

These figures indicate a significant drain on the government’s finances, impeding its ability to invest in crucial sectors which could bolster economic growth and people’s well-being.

Nigeria did not profit from the surge in oil prices occasioned by the RussianUkrain war, due to low oil output and the spike in fuel subsidy expenses.

As the country’s total public debt nears N80 trillion, it was not surprising why Governor Godwin Obaseki raised an alarm that “It would be a miracle for the Federal Government and state governments to pay salaries beyond June this year without resorting to massively printing of money or removing fuel subsidy. Either of these decisions will bring more hardship and pain to Nigerians, particularly workers.”

The consensus, however, was that subsidy was no longer sustainable and its removal will help end the syphoning, smuggling, and stealing of Nigeria’s Premium Motor Spirit (PMS) to other countries in the African continent. With this continuous theft and illicit trade along the borders, the country bleeds, economically, leaving the entire citizenry in utter impoverishment.

However, what Nigerians never expected was its sudden removal without plans already put in place to cushion the effect it will have on their well-being.

They had expected a working refinery already in place, and an increase in the minimum wage, among other measures and palliatives to be in place before the eventual removal of subsidy, but this wasn’t so.

Nigeria Refinery Woes Nigeria’s main downstream challenge is the lack of refining capacity, which pushes the State to rely heavily on imported products for domestic needs.

As a result, the country has been unable to take full advantage of the current high oil prices.

The country has five public refineries, four of which are owned by the Nigerian government through the NNPC, while the fifth is owned and operated by Niger Delta Petroleum Resources (NDPR).

The two Port Harcourt Refineries have a total capacity of 210,000 bpd. They are operated by the Port Harcourt Refining

Lagos residents bear the brunt of high cost of transportation

Company (PHRC), a subsidiary of NNPC. The PHRC is made up of two refineries located at Alesa, Eleme, Rivers State.

The old refinery has a refining nameplate capacity of 60,000 bpd and was commissioned in 1965, while the new plant, which has a nameplate capacity of 150,000 bpd, was commissioned in 1989.

The plants utilise bonny light crude oil to produce LPG, PMS, dual-purpose kerosene (DPK), automotive gas oil (AGO), lowpour fuel oil and high-pour fuel oil.

The Warri refinery was established in 1978 and has a capacity of 125,000 bpd. The refinery is located at Ekpan, Warri, Delta State and is operated by the Warri Refining & Petrochemicals Company (WRPC), an NNPC subsidiary.

The refinery was installed as a complex conversion plant capable of producing LPG, PMS, DPK, AGO and fuel oil from a blend of Escravos and Ughelli crude oils. WRPC has a petrochemical plant complex that produces polypropylene and carbon black from the propylene-rich feedstock and decant oil from the fluid catalytic cracking unit.

The Kaduna Refinery has a capacity of 110,000 bpd and is located in Kaduna. The plant is run by Kaduna Refining and Petrochemicals (KRPC), a

subsidiary of NNPC and has a complex conversion configuration.

KRPC has a fuel plant that was commissioned in 1983 and a 30,000-tonneper-year petrochemical plant that was commissioned in 1988. The refining plant has two distillation units that utilise Escravos and Ughelli crude oils for fuel production and imported heavy crude oil for lube base oil, asphalt and waxes.

Products made by KRPC include LPG, PMS, household kerosene HHK, aviation turbine kerosene (ATK), AGO and fuel oil. The petrochemical plant produces linear alkyl benzene.

Last is the Ogbele refinery. The Ogbele Refinery is owned and operated by the NDPR, produces more than 1,000 bpd and is located in Ogbele, Rivers State.

The plant produces diesel for internal consumption, while excess fuel is sold.

The plant receives crude oil from the flow station operated by its upstream affiliate, the Niger Delta Exploration & Production Company.

Although the government has these five refineries, they have not properly functioned in years. The group managing director of NNPC, Mele Kyari, said in May 2022 that 25 years of bad management have seriously affected these refineries. He said that the key priority now is to improve their operations and maintenance (O&M). The O&M issue is longstanding in Nigeria.

He said each refinery will undergo a complete rehabilitation procedure to have them fully operational shortly. The Port Harcourt Refinery has already started its rehabilitation. The refinery is projected

What Nigerians never expected was its sudden removal without plans already put in place to cushion the effect it will have on their well-being. They had expected a working refinery already in place, and an increase in the minimum wage, among other measures and palliatives to be in place before the eventual removal of subsidy, but this wasn’t so

Implications of Subsidy Removal The removal of subsidy on petrol, thereby increasing the pump price of petrol to a record high of N600 has raised the level of hardship on the people nationwide.

Nigerians are currently confronted by daunting economic challenges as the cost of most goods and services has tripled, whereas the income of many citizens has remained the same. The 22.41 per cent inflation rate has eroded the value of what many have.

During his inauguration speech on May 29, as Nigeria’s 16th President, Bola Tinubu declared an end to the subsidy on Premium Motor Spirit, popularly called petrol.

By May 31, 2023, less than two days after the subsidy removal, the pump price of the commodity jumped from about N198/litre to an average of over N500/litre across the country. This triggered a widespread increase in the cost of goods and services nationwide, including transportation costs.

While many Nigerians struggled to reconcile themselves with the new reality, a few weeks ago, the pump price skyrocketed to an average of N600/litre, thereby many citizens had to dump their cars at home, boycott entering commercial vehicles and resort to trekking in their numbers, giving a feel of trek-a-thon.

This is not to underplay the economic hardship the subsidy removal has also brought on Nigerians who are fighting harder not to fall among the 101 million people predicted to become poor as a result of the removal of fuel subsidy without provision for palliatives.

101 Million May Become Poor A recent report by the World Bank revealed that the removal of subsidies on petrol could increase the number of poor Nigerians to 101 million if the government failed to provide palliatives.

The bank said Nigeria had one of the highest inflation rates, which pushed an estimated four million people into poverty between January and May 2023.

It disclosed this during the launch of the June 2023 edition of the Nigeria Development Update in Abuja.

The report revealed that about 7.1 million poor Nigerians would become poor if the Federal Government failed to compensate or provide palliatives for them, following the removal of fuel subsidy.

It said 89.8 million Nigerians were poor as of the beginning of this year, and an additional four million Nigerians became poor between January and May 2023, raising the figure to 93.8 million.

This latest projection means that the number of poor Nigerians will rise to 100.9 million if the government fails to compensate vulnerable citizens for the hardship imposed on them by fuel subsidy removal.

Proposed Palliatives On July 13, President Tinubu asked the Senate to approve a borrowing request Continued on page 19

19

T H I S D AY ˾ AUGUST 16, 2023

FEATURES

'Trek-a-thon' for Lagos Commuters as Fuel Price Hike Hits Hard

Cyclist knocked down by a hit and run car in Lagos

of $800 million. Tinubu in the letter explained that the loan will be used to scale up the national social safety net programme and will be sourced from the World Bank.

He assured that the federal government will transfer the sum of N8,000 monthly to 12 million poor and lowincome households for six months, with a multiplier effect on about 60 million individuals. He said the money would be transferred directly to identified beneficiaries account.

He said in, “To guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts and mobile wallets.

“It is expected that the programme will stimulate economic activities in the informal sector and improve nutrition, health, education, and human capital development of beneficiaries’ households.”

However, this proposal was strongly kicked against by the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC).

They are rather demanding a 300 per cent salary increase to enable workers to cope with the challenges imposed by the deteriorating economic situation that came with the removal of the controversial fuel subsidy.

The Tinubu administration has also received backlash from several wellmeaning Nigerians who have expressed fears that the proposal was shredded in secrecy and dishonesty, especially as regards the potential beneficiary.

These fears were strongly fueled by the decision of Tinubu’s administration to tow the same lane as his predecessor, former President, Muhammadu Buhari and his antecedents of direct cash transfers to supposed vulnerable Nigerians and not being able to account for the money or visibly substantiate the impact.

Following the backlashes, Tinubu’s administration recalled the N8,000 proposal initiative for review and has since been pending.

States Initiatives While several states are yet to roll out any form of palliative, including Lagos, Some state governments like Edo, Kwara, and Ogun States have rolled out strategies and initiatives to ameliorate the effect of the current hardships on their citizens.

The Edo State government announced the reduction of official working days for civil servants from five to three days a week. By this directive, workers will now work from home two days every week.

Apart from that, the plight of parents, teachers and pupils is also on the government's radar as their commuting to school will be reduced. The government said it was also working on deepening the EdoBEST@Home initiative to create

Stranded commuters at a Lagos Bus stop

more virtual classrooms, thereby reducing the cost of commuting for parents, teachers and pupils.

In the same vein, civil servants in Kwara State would now only be working for three days in a week following an announcement by the state governor, Gov. Abdul-Rahman AbdulRazaq.

In addition to the reduction of the official working days for civil servants, Governor AbdulRazaq also approved the deployment of government buses to support the movement of students and workers in public tertiary institutions within the Ilorin metropolis and its environs.

“It is the second phase of the measures being put in place by the Kwara State government to cushion the effects of high energy implications on the people,” he said.

In Ogun State, Governor Dapo Abiodun approved a cash palliative of N10,000 for each public servant including pensioners to enable workers to cope with the economic shocks occasioned by the removal of Fuel Subsidy for a period of 3months in the first instance with effect from July 2023.

He also approved hazard allowance for all health and medical personnel in the State.

In the press statement signed

by Secretary to the State Government, Tokunbo Talabi, the governor also approved the “immediate release of Letters of Promotion in respect of 2021 and 2022.

“Payment of March and April 2023 ‘Leave Bonuses’ for public servants in the state, and immediate cash-backing for the quarterly payment of gratuities to pensioners.

“The ministries, departments and agencies are to work out modalities of ensuring that 20 per cent of their staff strengths are off-duty daily to ease the effect of the recent increase in fuel price among Public Servants.

“Commencement of food palliatives to the vulnerable

(Rice, Garri, Beans, Maize etcetera), also, the Gateway Trading Company has been mandated to establish food distribution outlets across the state and must sell the items at the rate obtainable in the market before the removal of fuel subsidy.

“The state is also establishing a commodity exchange to ensure optimisation of current and future investment in the Agro-allied sector of the economy in line with President Tinubu’s war on food insecurity.”

The government also approved the distribution of fertilizers and other farm inputs to farmers at subsidised and controlled prices, and full implementation of the administration’s Energy Transition Strategy with the launch of Electric Motorbikes and Tricycles all over the State, among others.

Uneasy Quiet in Lagos For a state with an estimated population of over 16 million Nigerians, with a poverty rate pegged at 8.6 per cent, and an unemployment rate put at 37.16 per cent by the National Bureau of Statistics, one would expect an immediate rollout of palliative to ease the burden of removal of subsidy on the people like it did during the Covid-19 Pandemic era.

As the cost of transportation has soared by over 300 per cent, many of the residents are left with no option but to trek more than they have ever had to just to get to their destination.

While some now trek out-rightly to work, others trek halfway before entering a bus just to augment the high transportation cost. Some others have even resorted to driving bicycles to work despite the lack of designated bicycle routes in Lagos and in Nigeria as a whole, yet the Lagos State government is yet to roll out any palliative measure to cushion the subsidy removal effect.

Plans to Introduce Bicycles and Lack of Designated Routes As part of efforts to cushion the effect of subsidy removal on transportation, and promote a cleaner environment and healthy lifestyle, the Federal Ministry of Transportation has encouraged Nigerians to consider bicycles as alternative means of commuting.

The Director, of Road Transport and

Without a properly designated bicycle route across the country, encouraging more Nigerians to shift to cycling as a means of transportation is tantamount to leading them to their early graves, and fueling an increase in road fatality, as there are more reckless drivers on a free road than a cautious one

Mass Transit Administration, Musa Ibrahim, who stated this at a one-day stakeholders sensitisation meeting held in Abuja, said the idea is to enhance and heighten the importance of cycling in Nigeria as it will lead to a drop in road crash incidences.

According to the Director, “The uniqueness, longevity and versatility of the bicycle as a simple, affordable, reliable, clean and environmentally fit sustainable means of transport, fostering environmental stewardship and health.”

He noted that proponents have equally encouraged the use of bicycles as a means of eradicating poverty, furthering sustainable development, strengthening education, including physical education, for children and young people; promoting health, preventing disease, and facilitating social inclusion.

Meanwhile, while the opinion of Musa Ibrahim is very valid, there lies an imminent danger in riding a bike in a country where there are no designated bicycle routes.

Cycling is a mode of transportation that has been credited with environmental, economic and health benefits. It is a sustainable, environmentally friendly non-motorised transportation that does not pollute the environment and requires less land use than other motorised transportation.

It is considered a cheap entry-level mode of transportation as it is affordable and easily assessable with little training to control it. Evidence shows that it helps to reduce cholesterol, boosts mental and brain power, achieve weight loss and keep certain medical conditions in check.

However, as lovely as it sounds, several cycling enthusiasts have lost their lives in Nigeria because of a lack of enabling facilities.

In December 2022, a co-founder of Vetiva Capital Management, Olaolu Mudasiru, was killed by a hit-and-run driver in Lagos State. A 28-year-old cyclist identified as Daniel was also killed in Delta State by a reckless driver. The trials of these kinds of deaths are long and all liked to the lack of designated bicycle routes in Nigeria.

The vehicle population keeps growing in Nigeria as owning a car is generally considered a sign of success.

According to the National Bureau of Statistics’ Q2 2018 report, it estimated that there are about 11,760,871 cars in Nigeria. Topping the chart are Lagos and Kano with about 50 per cent of the total number, leaving cyclists and pedestrians at the mercy of impatient drivers.

Without a properly designated bicycle route across the country, encouraging more Nigerians to shift to cycling as a means of transportation is tantamount to leading them to their early graves, and fueling an increase in road fatality, as there are more reckless drivers on a free road than a cautious one.

20 T H I S D AY WEDNESDAY AUGUST 16, 2023 TR

UT H

& RE A S O

Wednesday August 16, 2023 Vol 27. No 10352

N

opinion@thisdaylive.com

www.thisdaylive.com

COUPS AND PROTESTS Constitutional rule is in the best interest of everyone, argues USMAN AHMED TUDUN DOKI

See page 21

A BALANCING ACT CHUKWUDI ENEKWECHI writes that the appointment of Goerge Akume as the SGF is well-deserved

See page 21 EDITORIAL

ABATTOIRS AND PUBLIC HEALTH

22

1

He who seeks equity must do equity, argues DAYO SOBOWALE

POLITICS, LITIGATIONS AND VENDETTA ,W ZDV ÀHU\ 3DVWRU 7XQGH %DNDUH ZKR UHOHDVHG ZKDW KH FDOOHG WKH ¶VWDWH RI WKH QDWLRQ· DGGUHVV UHFHQWO\ LQ ZKLFK KH DFFXVHG QHZO\ HOHFWHG 3UHVLGHQW %ROD 7LQXEX RI FDUU\LQJ RXW D YHQGHWWD DJDLQVW IRUPHU &%1 JRYHUQRU *RGZLQ (PHÀHOH DQG IRUPHU ()&& ERVV $EGXOUDVKLG %DZD 0RVW LPSRUWDQWO\ %DNDUH DGPRQLVKHG 7LQXEX ZKR LV DOVR WKH QHZ (&2:$6 SUHVLGHQW WR ZDJH ZDU DJDLQVW FRUUXSWLRQ DQG QRW 1LJHULDQV QRWLQJ WKDW KLV LPSXOVLYH UHPRYDO RI IXHO VXEVLG\ ZLWKRXW D SODQ LQ SODFH WR FXVKLRQ LWV HͿHFW ZDV D WHQGHQF\ WRZDUGV DXWKRULWDULDQLVP 7KLV KH LQVLVWHG KDV FDXVHG 1LJHULDQV XQWROG KDUGVKLS DQG PLVHU\ ,W LV QRWDEOH WKDW WKLV FOHULF ODZ\HU DQG SUD\HU ZDUULRU LV D PHPEHU RI WKH VDPH SDUW\ DQG ZDV WKH UXQQLQJ PDWH RI WKH LPPHGLDWH SDVW 1LJHULDQ SUHVLGHQW ZKHQ KH UDQ HDUOLHU IRU D SUHVLGHQWLDO HOHFWLRQ DQG ORVW %DNDUH HYHQ FRQWHVWHG LQ WKH ODVW SUHVLGHQWLDO SULPDULHV RI WKH $3& WRJHWKHU ZLWK WKH IRUPHU &%1 JRYHUQRU ZKR GLG WKH XQEHOLHYDEOH LQ UXQQLQJ IRU SROLWLFDO R΀FH ZKLOH VWLOO LQ R΀FH DV &%1 JRYHUQRU DQG UHWXUQLQJ WR WKDW R΀FH XQUHVWUDLQHG DQG HͿRUWOHVVO\ WKHUHDIWHU %DNDUH ZDV ULJKWO\ WHOOLQJ WKH 1LJHULDQ SUHVLGHQW WKDW KH ZDV YLRODWLQJ WKH UXOH RI ODZ LQ QRW FKDUJLQJ WR FRXUW ERWK (PHÀHOH DQG %DZD EHFDXVH WKH ODZ VD\V WKDW D VXVSHFW LV SUHVXPHG LQQRFHQW XQWLO KH LV IRXQG JXLOW\ LQ FRXUW 0HDQZKLOH DV 7LQXEX SURYLGHV OHDGHUVKLS WR (FRZDV WR TXHOO WKH FRXS LQ 1LJHU KH KDV FDVHV LQ FRXUW FKDOOHQJLQJ KLV HOHFWLRQ·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·V GRPHVWLF RU IRUHLJQ SROLFLHV DJHQGD 6R UHDOO\ WKH GLH LV FDVW LQ 1LJHULD RQ ERWK WKH UHVXOWV RI WKH IXHO VXEVLG\ UHPRYDO DQG WKH UHVROXWLRQ RI WKH FRXS LQ 1LJHU E\ (&2:$6 OHG E\ 1LJHULD·V 3UHVLGHQW 7LQXEX WKH 1LJHULDQ FKDPSLRQ RI GHPRFUDF\ 6LQFH WKH WKHPH RI P\ ZULWH XSV LV ¶FRPSDUDWLYH JRYHUQPHQW· , ORRN DW GHYHORSPHQWV RQ WKH SROLWLFDO VFHQH LQ WKH 86 WKH LGHRORJLFDO PHQWRU RI 1LJHULD·V SUHVLGHQWLDO V\VWHP RI JRYHUQPHQW ZLWK LWV V\VWHP RI FKHFNV DQG EDODQFHV DQG 1LJHULD 5LJKW QRZ LQ WKH 86 IRUPHU 3UHVLGHQW 'RQDOG 7UXPS KDV EHHQ LQGLFWHG IRXU WLPHV LQ DQG \HW KH LV VWLOO WKH OHDGLQJ FDQGLGDWH RI KLV SDUW\ WKH 5HSXEOLFDQ 3DUW\ WR ZLQ WKH SDUW\·V WLFNHW IRU WKH 86 SUHVLGHQWLDO HOHFWLRQ 7KH FKDUJHV DJDLQVW 7UXPS DUH PDLQO\ RQ HOHFWLRQ ZKLFK KH ORVW EXW VDLG ZDV ULJJHG DQG WKH NHHSLQJ RI FODVVLÀHG GRFXPHQWV DW KLV 0DU $ODJR UHVLGHQFH LQ )ORULGD 7KHUH DUH DOVR SRVW HOHFWLRQ LVVXHV OLNH WKH -DQ DVVDXOW DW WKH 86 FDSLWRO RQ WKH GD\ WKDW

WKH 86 9LFH 3UHVLGHQW ZDV FRQVWLWXWLRQDOO\ H[SHFWHG WR UDWLI\ WKH HOHFWRUDO YRWHV RI WKH VWDWHV LQ WKH SUHVLGHQWLDO HOHFWLRQ DQG GHFODUH WKH YLFWRU LQ WKH HOHFWLRQ GXO\ HOHFWHG DV WKH SUHVLGHQW RI WKH 86$ 6LQFH 'RQDOG 7UXPS WKRXJKW WKH HOHFWLRQ ZDV ULJJHG KH DVNHG KLV 9LFH 3UHVLGHQW 0LNH 3HQFH QRW WR UDWLI\ WKH HOHFWLRQ EXW 3HQFH UHIXVHG EHFDXVH DV KH VDLG UHFHQWO\ KLV GXW\ ZDV WR WKH FRQVWLWXWLRQ DQG QRW WR WKH SUHVLGHQW 2EYLRXVO\ 3HQFH GLG QRW EX\ 7UXPS·V EHOLHI WKDW WKH HOHFWLRQ ZDV ULJJHG %XW LI KH KDG ZRXOG KH KDYH REOLJHG DQG VWRSSHG WKH HOHFWLRQ" $Q DQVZHU FDQ EH IRXQG LQ WKH REVHUYDWLRQ RI D ODWH 86 6XSUHPH &RXUW MXGJH ZKR REVHUYHG LQJHQLRXVO\ WKDW -DQ ZDV WKH PRVW LPSRUWDQW GD\ LQ WKH $PHULFDQ 86 3UHVLGHQWLDO HOHFWLRQV EHFDXVH RI LWV LPSRUWDQFH LQ UDWLI\LQJ WKH HOHFWLRQ · 7KDW RVWHQVLEO\ ZDV ZKDW 7UXPS VHL]HG RQ DQG ZDV FDSLWDOL]LQJ RQ EHIRUH KH DVNHG KLV 93 WR GR WKH QHHGIXO EXW 3HQFH GLG QRW VHH WKH FRQVWLWXWLRQDO LPSDFW RI WKLV KH RQO\ VDZ 7UXPS·V LQRUGLQDWH DPELWLRQ DQG D FRQVWLWXWLRQDO GHÀFLW LQ KLV ERVV·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·V FKDUJH RI YHQGHWWD DJDLQVW WKH 7LQXEX JRYHUQPHQW FRPHV LQWR SOD\ $ ORVW ODSWRS RI WKH 86 3UHVLGHQW·V VRQ +XQWHU %LGHQ ZDV IRXQG GXULQJ FRYLG DQG RQ WKH HYH RI WKH 86 SUHVLGHQWLDO HOHFWLRQV +RZHYHU UHYHODWLRQV IURP LW WKDW +XQWHU ZDV XVLQJ KLV IDWKHU·V SRVLWLRQ DV 86 SUHVLGHQW WR JHW IRUHLJQ FRQWUDFWV LQ ERWK &KLQD DQG 8NUDLQH ZHUH VXSSUHVVHG LQ WKH SRZHUIXO 86 PHGLD DQG VXSHU WHFK FRUSRUDWLRQV DV 5XVVLDQ PLVLQIRUPDWLRQ 7KLV ZDV GRQH VXFFHVVIXOO\ WLOO %LGHQ KDG ZRQ ,Q DGGLWLRQ FKDUJHV RI WD[ HYDVLRQ DQG SURFXULQJ DUPV ZKLOH XQGHU GUXJV DJDLQVW +XQWHU %LGHQ ZHUH

KXVKHG E\ )%, DQG 'HSDUWPHQW RI -XVWLFH XQWLO ZKLVWOHEORZHUV FDPH RXW LQ &RQJUHVV WR JLYH LQIRUPDWLRQ WKDW WKH SUHVLGHQW·V VRQ FDVH ZDV EHLQJ VORZ ZDONHG $ SOHD EDUJDLQ WR KDYH KLP SOHDG JXLOW\ WR ZDON DZD\ IUHH ZDV QLSSHG LQ WKH EXG E\ D NHHQ DQG REVHUYDQW MXGJH DQG KH KDG WR SOHDG JXLOW\ 7KH LPSDFW RI WKLV LQ WHUPV RI LQGLJQDWLRQ DQG LQMXVWLFH RI 7UXPS·V VXSSRUWHUV RQ WKH ZHDSRQLVDWLRQ RI OLWLJDWLRQV RQ HOHFWLRQV DQG LQMXVWLFH LV FDSWXUHG E\ WKH ODPHQWDWLRQ RI D 5HSXEOLFDQ VHQDWRU 7HG &UX] RQ KHDULQJ RI 7UXPS·V IRXUWK LQGLFWPHQW +H VDLG ¶7KLV LV GLVJUDFHIXO 2XU FRXQWU\ LV RYHU \HDUV ROG :H KDYH QHYHU RQFH LQGLFWHG D IRUPHU SUHVLGHQW RU D FDQGLGDWH IRU SUHVLGHQW DQG WKLV LV -RH %LGHQ WKLV LV WKH 'HPRFUDWV ZHDSRQLVLQJ WKH MXVWLFH V\VWHP EHFDXVH WKH\ DUH DIUDLG RI WKH YRWHUV 7KLV LV GLVJUDFHIXO ,W LV ZURQJ DQG LW LV DQ DEXVH RI SRZHU E\ DQJU\ 'HPRFUDWV ZKR KDYH GHFLGHG WKH UXOH RI ODZ GRHVQ·W PDWWHU WR WKHP DQ\ PRUH ¶ ,W LV WKHQ QHFHVVDU\ WR FRPSDUH WKH LVVXHV RI ULJJLQJ YHQGHWWD DQG OLWLJDWLRQ LQ KLVWRULFDO SHUVSHFWLYHV LQ ERWK 1LJHULD DQG WKH 86 ,Q 1LJHULD SRVW HOHFWLRQ OLWLJDWLRQ LV ERWK IDVW DQG IXULRXV E\ ORVHUV UHJDUGOHVV RI WKH YDVW GLͿHUHQFH LQ YRWHV FDVW EHWZHHQ ZLQQHU DQG ORVHUV (YHQ LQ VDIH FRQVWLWXHQFLHV YRWHUV VWXͿ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·V XVDJH RI ULJJLQJ LQ 86 SROLWLFV WKH ¶ELJ OLH· ZKLOH 7UXPS LQVLVWHG LW ZDV D ¶VWROHQ HOHFWLRQ ¶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obowale is of Arise News

T H I S D AY

321

WEDNESDAY AUGUST 16, 2023

Constitutional rule is in the best interest of everyone, argues USMAN AHMED TUDUN DOKI

CHUKWUDI ENEKWECHI writes that the appointment of Goerge Akume as the SGF is well-deserved

COUPS AND PROTESTS

A BALANCING ACT

Reports of some young Nigerians staging protests in some cities, notably Kano, against last Thursday’s ECOWAS Authority of Heads of State and Government’s decision to activate a Standby Force could inadvertently encourage the Nigerien coupists to stand firm. They will be encouraged to believe that domestic opposition to military action could discourage ECOWAS leaders, notably the Chairman President Bola Tinubu, from resorting to “the last resort” if dialogue and diplomacy fail to dislodge the coupists and restore constitutional rule in the country.

ECOWAS leaders ordered activation of the Standby Force only after the

actually has five regional arms. These are North, Eastern, Western/ECOWAS, Central and Southern Standby Forces, each contributed by African Union member states in the region and designed to address security challenges as they arise in that region.

The model for these must be ECOMOG, the Nigerian-led military mission that intervened to end carnage and civil war in Liberia and then Sierra Leone in the 1990s. Later, when the civil war in Sierra Leone developed to alarming levels and ECOMOG was no longer at hand, the British Army intervened to end the war.

Since we don’t want this to happen again, it is very important for the region to learn

deadline they gave the soldiers to restore constitutional rule in Niger Republic was rudely ignored. The coupists also refused to enter into any meaningful dialogue.

Instead, they denied landing rights to a UN and African Union delegation, closed the country’s airspace, closed its land borders, severed diplomatic relations with its neighbours and went on to appoint ministers and a prime minister. They also continued to detain President Mohamed Bazoum in inhuman conditions, according to his daughter, with neither light nor water and only dry rice as food.

Contrary to some Nigerians’ feeling that last-resort military action to remove the coupists and discourage future coup planners amounts to “an attack on Niger Republic,” this is not so at all. Only a small cabal of soldiers sat down and planned a breach of their country’s constitutional order, flouting core principles of ECOWAS and the African Union and threatening peace and stability in the region. They also ignored calls by the UN Secretary General to retrace their steps and restore Bazoum to the presidency.

Some Nigerians seem to think that the Standby Force that ECOWAS activated is a novelty and an undesirable escalation of the situation. It is neither. We easily forget that this regional Standby Force is part and parcel of a larger African Standby Force. This African force, which is meant to intervene in humanitarian crisis situations and defend constitutional rule,

to solve its own problems, as much as we can.

It is true that the seven Northern Nigerian states that share borders with Niger Republic have genuine fears that events in that country could affect them.

Well, events in Niger Republic could affect them even without military intervention because already, we read about insurgent groups planning to challenge the soldiers and restore the civilian government to power. The possibility of a counter coup in Niger Republic is also real, given the ethnic dimensions of this coup. Foreign powers that feel injured by this coup could also engineer counter coups of their own, which could lead to instability.

That is what we should fear, because even during the Sahelian drought of 1973/74, millions of Nigeriens poured into Nigeria and severely stretched facilities in the border states. It could be worse in the event of instability.

Therefore, rather than start street protests that could encourage the Nigerien coupists to further dig in and thwart all reconciliation efforts, it is actually enlightened self-interest to support regional leaders to take whatever action they deem necessary in order to restore constitutional rule in Niger Republic and thereby thwart the possibility of more insecurity and humanitarian crises in the future.

Tudun Doki, Ph.D., a retired diplomat, writes from Kano

The appointment of the former governor tranquillity to governance and the ship of of Benue State, Senator George Akume as the state is navigating seamlessly. It is therefore Secretary to the Government of the Federation expected that all well-meaning Nigerians, did not come to many Nigerians as a surprise, especially the All Progressives Congress yet it has elicited reactions from some stakeholders, will not throw spanner in quarters. Just recently, the former minister of the works, but will rally round and give Agriculture, Chief Audu Ogbeh led a handful the SGF and the Tinubu administration the of his acolytes from the Idoma ethnic group to requisite support towards ameliorating the address a press conference where they called harsh living conditions of Nigerians. The on President Bola Ahmed Tinubu to sack negative approach of what many people the SGF on the unsubstantiated accusation see as a “run him down syndrome” should that Senator Akume had used his esteemed be discarded as it is not only decadent but SRVLWLRQ WR LQÁXHQFH WKH QRPLQDWLRQ RI D 7LY petty. man for the Benue State ministerial slot.

Nigeria is currently beset with several This call by Ogbeh is not only unpatriotic, VRFLR SROLWLFDO FKDOOHQJHV DQG WR ÀQG but unbecoming of a man who had himself solutions to this myriad of problems will served as minister in the federal cabinet twice require the unalloyed support of all and VHFRQG UHSXEOLF DQG WKH ÀUVW WHUP RI 3UHVLGHQW sundry. A situation where some people Muhammadu Buhari’s administration). In choose to drag the hand of the clock both instances he represented Benue state, backward will aggravate an already tense and the question is: why did he not deem it political atmosphere. Lest we forget, necessary to canvass for equity and fairness Senator Akume has served the country then? For the avoidance of doubt, Senator in various capacities without blemish.

George Akume has been a dependable Apart from being a former governor of political ally of President Tinubu for more Benue state, he was also a senator and in than two decades. As a matter of fact Senator the last President Buhari’s administration

Akume narrowly missed the position of the he was the minister in charge of special vice president of Nigeria under President GXWLHV 6R ZH ÀQG LQ KLP D FRPELQDWLRQ RI Tinubu as a result of the Muslim-Muslim legislative and executive experiences that ticket, as he was known as one of the closest aid his current position as the Secretary FRQÀGDQWV RI 0U 3UHVLGHQW IURP WKH QRUWKHUQ to the Government of the Federation. In part of the country. other words, he will be able to crystallize Now with his appointment as the Secretary the entire gamut of President Tinubu’s to the Government of the Federation, the DJHQGD LQWR FRQFUHWH UHDOLW\ IRU WKH EHQHÀW president has performed a balancing act of all Nigerians. His quiet disposition as a as Senator Akume does not only represent leader despite his endowments will augur North Central geo-political zone, but with well for the administration. Already his the position the Tinubu administration has leadership style has started yielding the assuaged the agitated feelings of Christians expected dividends of democracy in the who feel marginalized as a result of the country in line with President Tinubu’s Muslim-Muslim ticket of Tinubu and vision. It is therefore incumbent on his Shettima. Besides, Senator George Akume is kinsmen to lend him a helping hand to a consummate politician, gentleman and a discharge the national assignment. By man that can be trusted. In his long political doing so, they will be seen as partners career he has built bridges across the length in nation- building, and not detractors and breadth of the country, and has a pedigree who are out to undermine the plan of of accommodating people of all tribes, religion the Tinubu administration to deliver and ethnic backgrounds. democracy dividends to the generality of As a tolerant leader, he knows how to Nigerians. It must be noted that the call navigate through political turbulence and of the Audu Ogbeh group for the sack this is essential towards the realization of of the SGF is not only unpopular but I’llPresident Tinubu’s vision for Nigeria. This is advised. one SGF in whom Nigerians are well pleased.

Most Nigerians are actually applauding Enekwechi, (JP) President Tinubu for his foresight and wisdom is a member, Media and Publicity in appointing George Akume as the SGF. Committee of APC Presidential Campaign Gladly, his appointment has brought calm and Council 2023.

22 4

T H I S D AY

WEDNESDAY AUGUST 16, 2023

EDITORIAL

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

ABATTOIRS AND PUBLIC HEALTH Abattoirs are in terrible shape and constitute serious health risk

T

he health of citizens should concern every responsible and responsive government, especially when it comes to what they daily consume.

Unfortunately, this is not the case in many parts of the country, including the Federal Capital Territory (FCT), Abuja.

Last week, residents of Gwagwalada local government area of FCT decried the unhygienic means of transporting meat from abattoirs to their markets. Since this is a problem that is national, health authorities should be concerned.

Using wheelbarrows, motorbikes and rickety vehicles speak to the increasing health hazards in consuming the beef prepared in many parts of the country. Besides, most of the abattoirs are in unacceptable condition, with the beef almost always left in open spaces that attract all kinds of contamination.

On several occasions on this page, we have had course to express serious concerns over the manner of producing, handling, and transporting EHHI IURP DEDWWRLUV WR WKH GLͿHUHQW SRLQWV RI VDOH across Nigeria because they are inimical to the KHDOWK RI WKH ÀQDO FRQVXPHUV $QG WKHUH DSSHDUV to be no credible step by the authorities to arrest the problem. This may also explain why members of the Nigerian business and political elites, as studies have shown, prefer imported, frozen poultry products, even when no one can also guarantee the safety of these imported products.

Except Lagos and few states, which have made UHPDUNDEOH HͿRUWV WRZDUGV HQVXULQJ D KHDOWK\ and hygienic abattoir condition by upgrading some of their abattoirs over the year to suit their laws, such facilities stink in many of the states, where butchers are still killing cows and preparing carcasses of their meat on the wet, GLUW\ PXGG\ ÁRRU ,Q PDQ\ RI WKHVH DEDWWRLUV

across Nigeria, the vicinity is littered with heaps RI VWLQNLQJ ZDVWH PDWHULDOV ,Q IDFW LQ PRVW FDVHV it is almost as if the abattoir is synonymous with waste.

Meanwhile, after these animals are slaughtered, WKH IXU LV EXUQW RͿ LQ WKH RSHQ XVLQJ ÀUHZRRG DQG lorry tyres, each producing smoke continuously on daily basis. These tyres constitute the greater part of the fuel. Apart from the hazard it poses to the health of consumers, the practice also produces lots of smoke that pollutes the area.

The environmental implication of such practice LV EHWWHU LPDJLQHG ,Q DOPRVW DOO WKH IDFLOLWLHV of these abattoirs are generally being operated under unhygienic conditions, mainly due to lack of certain basic amenities.

We therefore reinstate our position that the manner in which animal carcasses are handled during slaughter, loading and transportation from the abattoir to various points of sale must FKDQJH ,QGHHG DOPRVW DV D PDWWHU RI URXWLQH majority of the butchers convey their meat on bicycles, motorised tricycles and sometimes on some rickety meat vans, under very unhygienic conditions. The beef is simply packed and transported without regard to safety measures. $OWKRXJK PHGLFDO H[SHUWV GLͿHU VRPHZKDW DV to the exact causes of the cancer scourge in the country, there seem to be some agreement that the PDMRU FDXVH LV WKH KDELW RI WKH SHRSOH ,QFUHDVHG awareness campaigns, improvements in public health are all likely to lead to a decrease in the incidence of this killer disease. Besides, against the background that Nigerians consume over 300 million kilogrammes of beef a year, health authorities should encourage the establishment of modern abattoirs, through partnerships with the private sector. By so doing, we will perhaps be able to save many people from cheap deaths.

Using wheelbarrows, motorbikes and rickety vehicles speak to the increasing health hazards in consuming the beef prepared in many parts of the country 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 AKPABIO AND INSENSITIVITY OF THE NATIONAL ASSEMBLY Senate President Godswill Akpabio’s insensitive disclosure RI WKH ÀQDQFLDO LQFHQWLYHV WR VHQDWRUV KDV JUHDWO\ FDXVHG D JUHDW deal of embarrassment and salted many Nigerian wounds.

Nigerians have always had a complicated relationship with WKHLU OHJLVODWRUV ,W KDV DOZD\V EHHQ D FODVVLF FDVH RI ORYH DQG hate. The perception of insensitivity for the lawmakers has always inspired resentment among many Nigerians, who WKLQN WKH OHJLVODWRUV DUH RYHUSDLG DQG XQGHUZRUNHG ,W KDV QRW helped that Nigeria is in such a bad place now. With more than a hundred million of its 217 million citizens stewing in backbreaking poverty, the country has somehow managed to amass a mass of people seething with rage and resentment. ,Q WKH ZHH KRXUV RI 0DUFK WKH ,QGHSHQGHQW 1DWLRQDO Electoral Commission declared Bola Ahmed Tinubu winner of WKH SUHVLGHQWLDO HOHFWLRQ ,W ZDV NHHQO\ FRQWHVWHG EXW 7LQXEX DSSDUHQWO\ VTXHH]HG SDVW WKH ÀQLVK OLQH EHIRUH RWKHUV RU DW OHDVW DFFRUGLQJ WR ,1(& While other contestants stomped to the courts where they have continued to squeal that Tinubu’s victory was fraudulent, the APC power brokers immediately turned their attention to sharing the spoils of war.

The leadership of the National Assembly was to be tightly contested but at least the ruling party was able to agree on prinFLSDO R΀FHUV +LJK ZLUH SROLWLFV ZDV VRRQ WR FODLP WKH VFDOS of Abdullahi Adamu, the national chairman of the party and ,\LROD 2PLVRUH WKH QDWLRQDO VHFUHWDU\ The biggest winner of the cutthroat race that produced the leadership of the National Assembly appears to be Godswill $NSDELR D IRUPHU *RYHUQRU RI $NZD ,ERP 6WDWH DQG D IRUPHU PLQLVWHU +H HPHUJHG DV WKH 6HQDWH 3UHVLGHQW DQG KDV VLQFH taken on the role. But in his capacity as the occupant of one of 1LJHULD·V PRVW LPSRUWDQW R΀FHV $NSDELR KDV VKRZQ DQ H[WHQsive and exuberant cache of carelessness and clumsiness.

Under his watch, the Senate has been tasked with screening the 48 ministerial nominees of President Tinubu. Most of them have passed through the National Assembly with the barest hints of intensive scrutiny.

But perhaps, the culmination of Akpabio’s catalog of clumsiness as Senate President so far came recently when he publicly announced to the Senators that the clerk of the National Assembly had sent tokens to their accounts to enable them enjoy their leave.

When his attention was drawn to what was a catastrophic JDͿH KH EDFNWUDFNHG E\ VD\LQJ LW ZDV SUD\HUV WKDW ZHUH VHQW to their emails. Thus, in one apocalyptic moment, Nigerians watched their senate president morph from senate President to prayer warrior. ,W EULQJV $NSDELR·V OHJLVODWLYH ZLVGRP LQWR TXHVWLRQ 1LJHULans have long known that apart from making largely toothless laws, the National Assembly is also a place where their common wealth is shared as largess to lazy legislators? But why rub it in?

At a time when many Nigerians are feeling the pinch of poor government decisions and judgment, to mock Nigerians in VXFK D FUXHO PDQQHU RQ WKH ÁRRU RI WKH 1DWLRQDO $VVHPEO\ LV unforgivably shameful.

The 10th National Assembly should be on a mission to reGHHP WKH LPDJH RI WKH SDUOLDPHQW DFFRUGLQJ WR 1LJHULDQV 2Ϳ the back of the disastrous outing posted by the Ninth Assembly, the 10th National Assembly should be eager to clean up its battered image.

Kene Obiezu, keneobiezu@gmail.com

T H I S D AY ˾ WEDNESDAY, AUGUST 16, 2023

23

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

A U G U S T

S & P INDEX

1 5 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

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%

Budget Deficit: FG Issues N4.46tn Bonds in Eight Months as Rate Hits 15.85%

Kayode Tokede As the federal government intensified borrowing from local investors to bridge the 2023 budget deficit, the government through the Debt Management Office (DMO) raised a total of N4.46 trillion from the bond market in eight months of 2023 as the interest rate on 30-year FGN bond increased to 15.85 per cent in August 2023 from 14.3 per cent in July 2023.

According to TTHISDAY findings, the Debt Management Office (DMO) received N5.42 trillion total subscription as against N2.88 trillion offered during the period amid monetary policy tightening by

the Central Bank of Nigeria (CBN) and global uncertainties.

Analysis of bond market activity during the period revealed that FGN bonds recorded 53 per cent oversubscription as interest rates continued on a steady trajectory.

The DMO has conducted four auctions in 2023, which were oversubscribed despite hike in inflation rate and investors’ diversification into the stock market.

While the information on the buyers of corporate bonds are publicly disclosed, other publicly available reports indicate Pension Fund Administrators (PFA), asset managers, banks, and institutional/ foreign investors are among the

largest buyers of FGN Bonds.

The auction results released by DMO indicate strong investors’ demand for FGN bonds, as the total amount allotted exceeded the total amount offered. It also suggests investor confidence in the Nigerian economy and the ability of the government to meet its debt obligations.

A breakdown showed that in the first quarter (Q1) of 2023, total subscription to FGN bond stood at N2.61trillion while the DMO allotted N1.996 trillion out of the N1.080 trillion offered to investing public.

In the second quarter of 2023, investors were also offered N1.080 trillion FGN bond, it witnessed

N2.503 trillion subscriptions.

The DMO eventually allotted N2.23trillion.

However, July 2023 auction revealed that subscriptions stood at N945.14billion as against the N360billion offered. The DMO allotted N657.84billion.

At the just concluded FGN bond auction in August, the four instruments were 14.55 per cent April 2029 FGN bond; 14.70 per cent June 2033 FGN bond; 15.45 per cent June 2038 FGN bond; and 15.70 per cent June 2053 FGN bond. They were valued at N90 billion each, making a total offer of N360 billion.

In spite of current market conditions, the auction received a

total subscription of N312.56 billion and amount allotted to successful bidders for the four instruments was N230.26 billion.

Investors’ appetite for the 15.70 June 2053 (30-year bond) remained strong, with a bid-to-cover ratio of 2.71 times.

Allotments were made at 13.85 per cent for the 14.55 per cent April 2029 instrument and 15.00 per cent for the 14.70 per cent June 2033 instrument.

Also, “15.20 per cent was for the 15.45 per cent June 2038 instrument and 15.85 per cent for the 15.70 per cent June 2053 instrument,” the DMO said.

The federal government had

proposed to borrow over N11 trillion to finance the proposed 2023 budget deficit.

Findings by THISDAY revealed that FGN Bonds auctioned were re-openings with rates below the inflation rate.

The debt office in 2023 maintained four tenor bond auctions between January and June and each FGN bonds offers were oversubscribed.

Meanwhile, finance experts have attributed the strong demand for FGN bonds to attractive yields, which offer investors high returns on their investments.

The story continues online on www.thisdaylive.com

Adeniyi: Concessions, Waivers Granted FTZs to Boost Job Creation, FX Inflows James Emejo in Abuja The acting Comptroller-General of Customs, Mr. Adewale Adeniyi, has explained that the federal government resolved to grant concessions and waivers to operators in the nation’s economic zones in order to boost foreign exchange inflows and create jobs for Nigerians.

He also assured that the customs

under his administration would ensure that stakeholders in the free zones witness business prosperity.

Adeniyi made the commitment during his familiarisation visit to the headquarters of Ogun II Area Command, Abeokuta, Ogun State.

He said the intention of the government was to boost foreign exchange for the country, create jobs for Nigeria, and ultimately ensure

economic development.

While engaging with Excise Traders and Free Trade Zone Operators in the state, Adeniyi said the operations of the free zones remained a priority to the service.

He noted that the performance of customs in terms of trade facilitation and revenue generation is tied to the successes of the economic zones operators across the country.

He said, “I have made it a deliberate policy to put your operations at the cornerstone of our activities. My understanding is that you are critical stakeholders for us, it is through your activities that we can report our own activities, and it is, therefore, in our interest that we do everything to ensure that your companies and businesses prosper.

“It is not all the time that

customs officers are overzealous in implementation of the law; most of the time, they keep in their mind the basic objectives behind these entities.”

The green zone operators while congratulating the customs boss on his appointment also tabled issues of concern in the operations of the economic zones and factories under excise control.

Adeniyi, however, said he had set up a committee consisting representatives of enterprises, the Nigerian Export Processing Zones Authority (NEPZA) and Oil and Gas Authority, working with representatives from customs to look into all areas of concern.

The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT T U E S D AY, A U G U S T 1 5 , 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 16, 2023 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Oma: Infusing Structure into Business Planning Key for Sustainable Growth Founder of The Mother Eagle Advisory and Mentoring Academy and Adjunct Professor at Geneva Business School, Jane Oma spoke on pivotal measures start-ups and businesses need to embed as well as the importance of bridging the gap in mentorship, Nume Ekeghe presents the excerpts Can you give a brief background on what you do? am the founder of the Mother Eagle Advisory and Mentoring Academy and an Adjunct Professor at Geneva Business School. I have spent over a decade helping business/organisational leaders and management executives build strong institutions and sustainable businesses with a high level of effective communication and attention to organisational culture and human capital development. As a lifelong bridge builder, I play a vital role as the go-to person that connects business leaders to people, processes and structures that help them build organisations that will stand the test of time. Over the years, I have specialised in Business Advisory, Strategic Management Consulting, Leadership Development, Executive Coaching, Mentoring, Lecturing and Keynote Speaking on Executive Presence, Business Strategy for the 21st Century and Organisational Culture for cross-cultural organisations.

Last year, we called it the business growth and structures. Our focus last year was to help those in our communities but also others that were looking to come in to discuss how to really grow a business as well as the structure needed in order to effectively grow your business in a sustainable way.

I

Can you speak on the Global Mentorbridge conference?

This conference is focused on business leadership across all sectors. And one of the things that actually inspired the program is an observation after years of mentoring for almost a decade. I’ve been mentoring business leaders and startup founders. And I’ve been positioned in a way where I mostly worked with people in the business leadership, business ownership, and startup ecosystem both here in Nigeria and in other African countries but also in Europe. So it’s not sectoral it’s a global business leadership approach focusing on those that are building businesses have built businesses, and given that there are different generations of business leaders now, how can we connect the increasing gaps that we find amongst them.

How many start-ups have you worked with in the past and can you put a value on the impact your mentoring has translated to funding for these start-ups?

Does your organisation partner with other institutions?

Last year it was self-funded. I took the initiative because it’s something I believe in. I took the initiative because having worked very closely with a vast number of startup founders I looked around and I didn’t see that conversation, getting bigger in a way that can cover more people and more people can benefit from it. I took the initiative and last year I thought I’ll put my money where my mouth is, and then I’ll just let people see if they think that this is something that works. So we ran it last year and was entirely self-funded last year. This year, some of the startups that we’ve worked with have also, kind of sponsored in their own capacities, and we are open for partnership.

Oma I currently have two different communities because of the two different mentoring programs that I currently run. And there’s a combined number of 112 startup founders in that community who I actively mentor.

How many years have you done this conference?

This is our second year and this is the second edition. Our first edition, the pilot was launched last year. It was also held here in Lagos and we had 60 people that we invited also for the gala.

And then what we also did last year was we had different events in different cities of Nigeria. So, we were in Onitsha, Abuja, and also in Lagos.

What are the challenges facing businesses in NIgeria?

Anyone you ask this question will tell you that there’s a lot from infrastructure to policy, to culture. That is a big question because what drives the business decision of a guy in the Onitsha market might be very different from what drives the decisions of the man in Kano or Mushin and Balogun even in the same Lagos. So the challenges are enormous but they are also very different. And so you find a lot of times each person is looking at one particular area, but all of these other areas exist such as infrastructure funding, global best practices, and ethics. Another important factor is structure, I can break it down to one structure.

How do we really structure these new businesses in a way that they can stay and can keep growing?

And of course, structure will depend on access to funding and structure somehow will also connect to the kind of policies that we get the kind of leaders that we have, infrastructure, even employee engagement, the quality of employees that we get. However, if we look at structure, as we take it on from that just one structure, one of the things I ask is, if you have no structure, you as a founder, you’ve not structured your own growth, you are kind of a bit over the place, you must structure your business. And that is one of the beauties of mentoring. Mentoring helps you with structure, mentoring helps you to pace your growth to understand one step after the other. And that is how you build sustainably.

You are reiterating structure for businesses; however, in this clime businesses are faced with unpredictability. How would structure play a role in an unpredictable business environment?

A misconception about structure is that it constrains; however, in reality, structure offers enhanced flexibility.

It serves as the conduit for seamless movement. Just like when constructing a house, you have the freedom to adorn it according to your preferences, but ensuring a robust foundation is imperative. Therefore, when contemplating structure, your focus is on establishing a sturdy base, which subsequently empowers adaptable embellishment. Contrary to the notion that structure hampers adaptability to the business milieu, it actually facilitates more effective adaptation. It acts as a guide, enabling you to anticipate forthcoming developments.

This predictive capacity is a significant advantage of having a well-defined structure.

NOTE: The story continue online on www.thisdaylive.com

Enforcing Compulsory Insurance Regulations Enforcement of the six compulsory insurances, as stipulated in the regulations that guide the sector, is one of the greatest challenge of the insurance industry. Ebere Nwoji reports that the Nigeria Civil Aviation Authority has set the ball rolling through recent announcement of plans to enforce regulations by grounding erring airlines

R

ecent media reports on the Nigeria Civil Aviation Authority’s (NCAA) plans to enforce regulations on insurance by grounding defaulting air carriers and service providers that do not abide by the rules is a cheering news and one worthy of emulation by various agencies of government and trade groups whose members are mandated by law to put insurance cover in place before operations.

Insurance stakeholders said it was a cheering news because the issue of enforcement of various compulsory insurances and the consequences of failures by the concerned authorities has become so glaring in Nigeria now that the need for maximum support of the regulatory agencies is crucial.

The stakeholders said the reason the enforcement of the various compulsory insurances in the country has not been effective is because agencies regulating various sectors of the economy which required compulsory insurances do little or nothing to enforce compliance.

Indeed, sectors concerned with compulsory insurances have left the enforcement to the National Insurance Commission(NAICOM) alone with little or no efforts of theirs to compel various operators under their purview to comply.

They cited example of Motor Third Party Insurance policy which has received fair share of public abuses saying the extent of abuse of this particular policy now requires all hands to be on the deck to ensure thorough enforcement.

According to the insurance industry stakeholders, laws that will empower the ministry of transport, transport unions in collaboration with the law enforcement agencies and other federal and state transport management authorities should form part of amendment of the new insurance bill before the National Assembly so that these bodies will put hands on the deck to ensure strict

compliance.

This, they said, would go a long way to checkmate abuse of the policy and violation of the law.

According to them, fakers of the Motor Third Party Insurance have over the years thrived in their business mainly because enforcement has been left to the police alone. They added that motorists who prefer to obtain their insurance certificate through fake certificate hawkers have been bribing their way through police without checks by other relevant transport agencies.

The stakeholders therefore said the ministry of transport and other relevant agencies on road transport and even the Nigerian Union of Road Transport Workers should synergise to ensure effective enforcement of Motor Third Party Insurance policy. According to them, these bodies should emulate what the NCAA is about doing to airline operators and arrest motorists without genuine compulsory Motor Third Party insurance, impound

such vehicles to serve as deterrent to other motorists.

They said a situation where police will stop a motorist without insurance and collect N100 from him and allow him to go will not guarantee effective enforcement of the compulsory Motor Third Party insurance.

They also said though the Nigeria Insurers Association’s Insurance Industry Data base has to some extent reduced the number of motorists patronising fake insurance certificate buyers; there is the need to use force and compel motorists to buy their compulsory insurance from genuine insurers rather than allowing them to buy wherever they choose.

NCAA DEMANDS FOR COMPLIANCE Recently, the Nigeria Civil Aviation Authority (NCAA) demanded compliance with Nigerian Civil Aviation Regulations (Nig. CARs) 2022 on insurance cover to

be maintained by all allied aviation services providers.

The directive was contained in an alloperator letter with reference NCAA/DG/ AIR/11/16/369 dated August 11, 2023, addressed to all airlines and allied aviation services providers and personally signed by the Director General of NCAA, Captain Musa Nuhu.

The compliance is sequel to the coming into force of Nig. CARs 2022 on July 10th, 2023, which makes it mandatory that all airlines comply with Part 18.14.1.1 of the Regulations.

Specifically, Part 18.14.1.1 of the regulations provides amongst others that, “all airlines and other allied aviation service providers must not operate without adequate and valid insurance cover; submitting to the authority copies of valid insurance certificates, evidence of payment of premium and other policy documents of insurance cover of not less than three months as specified in IS: 18.14.1.1 and having insurance document which must be adequate and renewed before the expiration of the current policy and be submitted to the NCAA as soon as it is renewed.”

NCAA added that non-adherence to the regulation will attract immediate sanctions which will include the grounding of the specific aircraft and taking enforcement action against any airline or service provider that defaulted.

He urged them to be guided accordingly to prevent the grounding of their operations.

The NCAA took the decision despite complaints by airline operators in Nigeria on double insurance premium they pay for purchased or leased aircraft with both international and local insurers which cost they put at N300billion annually.

NOTE: The story continue online on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY, AUGUST 16, 2023

25

BUSINESSWORLD

PERSPECTIVE

Choosing A Courier for Your Small Business: What to Consider Timothy Oladimeji

M

any small businesses are increasingly reliant on delivery services. These are some of the most common problems that arise when using a courier - and how

to tackle them.

For many entrepreneurs and small businesses, the pressure is on to deliver – literally. Since the global pandemic, delivery is no longer a “nice-to-have”, but a necessity. There was a 25% rise in consumer e-commerce deliveries in 2020, with some of the increased demand expected to last well beyond the pandemic, according to a World Economic Forum report.

Whether you’re a restaurant with a take-out menu, an online retail enterprise, or a business that needs to get a lot of paperwork signed, sealed and delivered, how you get items from point A to point B can affect how your entire business is perceived.

However, with the explosion of courier services, there’s no shortage of choice: the challenge, then, is to find a courier service that can meet your business’s particular needs. Here are several factors that small businesses need to take into account when making this decision:

PRICE Small businesses typically operate on tight budgets, and courier costs can quickly add up. It’s important, therefore, to shop around and compare prices. If possible, negotiate your rates: you may be able to secure more favorable pricing, based on your shipping volume or frequency.

Alternatively, try out different approaches to courier services: while some courier services work on a retainer basis, others allow you to order delivery on demand via an app. This may be cheaper - and also more convenient, as you don’t need to waist time to sign a contract and set a predetermined delivery schedule.

If you’re a business that operates locally, it is worth investigating the types of delivery available in your area – i.e. car, motorbike or even by foot. If your timeframe allows, opting for different approaches may prove cheaper.

RELIABILITY Lost or stolen deliveries are a surefire way to lose customers; they can sink a business’s reputation faster than you can say, “Jack Sparrow”. Look out for couriers that allow you – and your customer – to track the progress of a parcel in real time.

Also, be sure to check a courier’s reputation.

Look at previous ratings and reviews and choose accordingly (and don’t forget to leave your own ratings and reviews after service, to assist future customers).

SPEED For many businesses, time is of the essence when it comes to delivery. Takeaways, for example, just don’t taste as good when they’re lukewarm. A business deal might require that documents be signed and quickly returned. And, for customers who have to wait at home for a delivery, the less time they have to waste, the better.

Here again, it’s worth considering what options are available – if you need speedy service but live in a congested area, delivery by motorbike may be faster than by car.

With GPS technology, a courier should be able to provide a reasonably accurate ETA, as well as a means to track the progress of a parcel in real time.

SCHEDULING Depending on your business, you may have specific time requirements for deliveries. Does your business operate outside standard working hours? Do you need a lot of flexibility? Keep this in mind

when you’re considering alternative couriers.

Do they operate when you need them to?

How flexible is the service they offer? While some courier services work within office hours, others provide on-demand delivery, 24/7, via an app.

These are some of the most important factors to consider in choosing your courier service. It can be a process that requires time initially, but finding the right courier service for your needs can make all the difference to your business’s growth and future success. inDrive is a global mobility and urban services platform headquartered in Mountain View, California, USA. The inDrive app has been downloaded over 175 million times, and was the second most downloaded mobility app in 2022.

In addition to ride-hailing, inDrive provides an expanding list of urban services, including intercity transportation, freight delivery, task assistance, courier delivery and employment search. inDrive operates in over 40 countries. It supports local communities via its peer-to-peer payment model and community empowerment programs, which help advance education, sports, arts and sciences, gender equality and other vital initiatives. t 5JNPUIZ 0MBEJNFKJ JT UIF #VTJOFTT %FWFMPQNFOU 3FQSFTFOUBUJWF BU JO%SJWF /JHFSJB

Accion MfB Relaunches Mobile App to Boost Customer Experience Nume Ekeghe As part of its commitment to offering and empowering its customers with innovative digital solutions to meet their financial goals, Accion Microfinance Bank, has revamped its mobile app to enhance its customers’ mobile banking experience.

The bank in a statement noted that the mobile app known as ‘AccionMonie’ comes with new exciting features, enhanced security, and a user-friendly interface designed with the customers’ financial needs in mind.

The Head, Marketing Communications, Accion MfB, Adefisayo Akinsanya stated

that with the ‘AccionMonie’ app, customers can carry out many banking services conveniently and seamlessly from anywhere in the country.

She said: “The new features of the app allow customers to have quick access to loans, reach their financial savings goals

with the target savings feature, open accounts, get their account statements seamlessly, pay bills, make transfers and much more within minutes and on the go without hassles.

“The ‘Target Savings’ feature empowers customers to set personalized savings to reach a financial goal.

Further, customers can easily access the ‘Brighta Loan’ at a competitive interest rate with flexible repayment plans.

The app can be download on Google Play store and App Store respectively.

“The upgrade of the Bank’s mobile app is a significant milestone in the Bank’s digital transformation

journey; it is a testament that the Bank will consistently seek ways to digitalize its products and service and ensure its customers can easily access them. This restates the Bank’s commitment to its mission and vision of transforming lives and businesses in the most sustainable and ethical manner in Nigeria.”

26

WEDNESDAY, AUGUST 16, 2023 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Five Banks Generate N51.15bn from e-Banking Charges Nume Ekeghe In spite of fierce rivalry within the financial sector, a total of N51.15 billion in electronic banking income was generated by five banks during the first half of the year.

This represents a notable growth of 30.17 per cent from the N39.29 billion recorded in the previous half-year period ending on June 30, 2022.

These five banks include; FBN Holdings, FCMB Group Plc, Wema Bank Plc, Fidelity Bank Plc, and Sterling Financial Holdings Company Plc.

Nigerian financial institutions have persistently encountered competition from Financial Technology (FinTech) enterprises such as Opay and Palmpay, which have provided customers with zero-commission options for fund transfers.

The entry of MTN Nigeria and Airtel Africa into the financial services arena has further intensified the competition, particularly with banks and existing fintech companies operating within the country.

Market analysts had predicted a potential decrease

in electronic banking income for banks due to licenses issued by the Central Bank of Nigeria (CBN) to telecommunications companies, permitting them to function as Payment Service Banks (PSBs).

THISDAY checks showed that the five banks aggressively grew their E-banking income in the period under review.

For instance, FBN Holdings reported N34.01billion E-banking income in H1 2023, an increase of 33.2 per cent from N25.54billion in H1 2022, while Fidelity Bank reported N2.11billion E-banking income

in H1 2023, a growth of 43 per cent from N1.48billion reported in H1 2022.

FCMB Group declared N7.4billion E-banking income in H1 2023, an increase of 10.5 per cent from N6.7billion in H1 2022 as Sterling Financial Holdings Company declared N4.49billion E-banking income in H1 2023, from N3.92billion in H1 2022.

In addition, Wema bank reported 89.7 per cent increase in its E-banking income to N3.14billion in H1 2023 from N1.65billion in H1 2022.

Cumulatively, the five banks generated a sum of N154.17billion

fee and commission income in H1 2023, an increase of 30.1 per cent from N118.5 billion in H1 2022.

Other fees and commission income generated by the banks include accounts maintenance charge, E-business, income, among others. In H1 2023, FBN Holdings generated N88.85 billion fee and commission income, a 26 per cent increase from N70.69 billion in H1 2022. For Fidelity Bank, it declared N21.5 billion fee and commission in H1 2023, a growth of 49.5 per cent

from N14.38 billion as FCMB group declared N28.5 billion fee and commission income from customers in H1 2023, a growth of 29 per cent from N22.07 billion reported in H1 2022.

In addition, Sterling Financial Holdings Company announced N11.6 billion fee and commission in H1 2023, a growth of 11 per cent from N10.5 billion in H1 2022 as Wema Bank reported N10.03 billion fee and commission in H1 2023, a growth of 34 per cent from N7.48 billion reported in H1 2022.

Leadway Assurance Collaborates Guinea Insurance Board Approves PrivatePlacement Plan heartfelt gratitude for the performance in Q2 of 2023. The Ebere Nwoji support the company made remarkable with Farmers to Boost Agriculture Guinea Insurance Plc, has tremendous company had received financial advancements in Leadway Assurance and Corporate Farmers, a renowned agricultural promotion organisation, have joined forces to organise an engaging and informative interactive session for farmers in the Southwest region of Nigeria. This collaborative initiative aims to foster relationships and exchange innovative ideas for the growth of the crucial agriculture sector in Nigeria.

Speaking at the session, the Senior Agric and Microinsurance Specialist, Mr. Oluwaseun Fasoranti, stated, “We at Leadway Assurance are aware of the indispensable role farmers’

play in the advancement of our economy. According to a report by the Minister of Agriculture in February 2023, “agriculture contributes 23.78 percent to Nigeria’s Gross Domestic Product (GDP). Yet, this noble responsibility comes with immense challenges, uncertainties, and events, such as droughts, floods, post-harvest losses, and pest invasions, continually threatening to stifle its growth every production season.”

Also commenting on the initiative, the Head of Agric Insurance, Leadway Assurance, Mr Ayoola Fatona said, “This partnership aligns with our mission of working closely

with farmers during times of unpredictability. Hence, this open, interactive session provides us with the platform to listen, engage and proffer actionable solutions to their diverse pain points. Leadway’s agriculture insurance policies have and will continuously be curated to meet these imminent needs.”

Also commenting, Cofounder of Corporate Farmers International, Mr. Akin Alabi, said, the interactive session with Leadway Assurance fits perfectly with his firm’s mandate of empowering farmers even in the face of the irrefutable growing challenges in the sector.

Accion MfB Relaunches Mobile App to Boost Customer Experience Nume Ekeghe As part of its commitment to offering and empowering its customers with innovative digital solutions to meet their financial goals, Accion Microfinance Bank, has revamped its mobile app to enhance its customers’ mobile banking experience.

The bank in a statement noted that the mobile app known as ‘AccionMonie’ comes with new exciting features, enhanced security, and a user-friendly interface designed with the customers’ financial needs in mind.

The Head, Marketing Communications, Accion MfB,

Adefisayo Akinsanya stated that with the ‘AccionMonie’ app, customers can carry out many banking services conveniently and seamlessly from anywhere in the country.

She said: “The new features of the app allow customers to have quick access to loans, reach their financial savings goals with the target savings feature, open accounts, get their account statements seamlessly, pay bills, make transfers and much more within minutes and on the go without hassles.

“The ‘Target Savings’ feature empowers customers to set personalized savings to reach a financial goal.

Further, customers can easily access the ‘Brighta Loan’ at a competitive interest rate with flexible repayment plans.

The app can be download on Google Play store and App Store respectively.

“The upgrade of the Bank’s mobile app is a significant milestone in the Bank’s digital transformation journey; it is a testament that the Bank will consistently seek ways to digitalize its products and service and ensure its customers can easily access them. This restates the Bank’s commitment to its mission and vision of transforming lives and businesses in the most sustainable and ethical manner in Nigeria.”

Registration for Insurance Meets Tech Confab Set to Commence Organisers of the Insurance Meets Tech conference scheduled for September 28 and 29,2023 said official registeration for the event kicks off Friday August 18,2023.

According to the organisers, Modion Communications, registration portal for the two-day Conference and Exhibitions conveners, will officially open to prospective delegates on Friday, August 18, 2023.

According to Modion, when open, delegates and VIP delegates will be able to seamlessly register and

pay the conference early-bird fee of N20,000 and N50,000, respectively, on the portal.

The Conference and Tradeshow Director, Precious Ubah, said the event would feature over 50 speakers, 20 demos and masterclasses, and about 3,000 participants expected to grace the tradeshow.

She added that the event would converge policymakers, regulators, keynote speakers, and sector leaders in six robust panel discussions.

“There will be VIP and delegates lounges, water-front exhibitions, masterclasses and

demo day hubs to share ideas and innovative solutions for leveraging technology to drive insurance penetration and improve the insurance industry’s efficiency and effectiveness.

She said though leaders and regulators at the event would share comprehensive insights on data analytics and artificial intelligence that would bolster product development, improve underwriting and claims management processes, help curate cyber security risks, and define the role of web aggregators in the industry’s value chain.

secured the approval of the National Insurance Commission (NAICOM), the Securities and Exchange Commission (SEC), and the Nigerian Exchange Group (NGX), for its Completion Board Meeting to endorse its Private Placement plans.

The company said the initiative involved the issuance of 1,802,800,000 Ordinary Shares at 50 Kobo per share, adding that the endorsement was seen as a reinforcement of the Company’s dedication to regulatory compliance and its clear strategic vision to emerge as a leading insurance company in Nigeria.

Speaking at the meeting, Guinea Insurance Chief Executive Officer, Ademola Abidogun, expressed his

from both stakeholders and regulators. He underscored the crucial significance of the private placement initiative in harnessing emerging opportunities and enhancing value for all stakeholders. He noted that the initiative was consistent with the company’s proactive approach to securing future growth, increasing market share and its dedication to maximising returns for investors and partners.

“Guinea Insurance is fully prepared to make the most of this opportunity to further fortify our market position, enhance customer experience, and open doors to even greater possibilities.

Our resolute commitment to success and the results of it can be seen from the company’s

the quarter, highlighted by substantial increases in key performance metrics. Remarkable boosts were seen in Insurance Contract Revenue (36.54 percent), Insurance Service Result (57.00 percent and Net Investment Income (44.51 percent ) The transformation of Profit/(Loss) Before and After Income Tax was especially striking, showing an impressive turnaround from loss to profit by 132.2 percent and 125.96 percent respectively.

These positive outcomes were largely driven by effective cost-saving strategies and enhancements in operational efficiency that in turn, accentuated the company’s impressive resurgence and its resolute drive to establish itself as the preferred insurance provider.”

27

T H I S D AY ˾ WEDNESDAY AUGUST 16, 2023

PROPERTY & ENVIRONMENT Drowning Rate Alarming, Prevention Requires Collaboration, Say Stakeholders Bennett Oghifo Participants at a recent roundtable organised to mark the 2023 Drowning Prevention Day and sustainable Development Goals, have described as alarming the high rate of drowning in the country.

The roundtable, organised by a consultancy known as Bridging Acquatics, deliberated on how to prevent drowning in the country, with a call by the Chairman, Prince Dapo Adelegan, for collaboration among strategic partners and

stakeholders for the success of the campaign and advocacy.

Bridging Aquatics is a global consultancy and socio-economic development firm that is highly sought after by governments, global institutions and corporations for its pioneering leadership and expertise in the field of water safety, drowning prevention and aquatic participation for socio-economic development specifically for Africa, Caribbean and Asian communities.

The guest speaker at the Roundtable, Dr. Femi Olugbile,

who discussed “Tackling the Public Health Hazard of Drowning in Nigeria”, said “In June 2023, a boat carrying 250 people across the Niger River in Kwara state as they returned home from a late-night wedding hit a log of wood and broke apart.

Some of the passengers were rescued. 108 died. Most of them were women and children.

“In the same month of June, 2023, medical students from Universities all across Nigeria met in Calabar for their annual convention, which was hosted by the Students’ Medical

L-R: The guest speaker, Dr. Femi Olugbile; Chairman, Bridging Aquatics, Prince Dapo Adelegan; and Chief Executive, Bridging Aquatics, Mrs. Danielle Obe, at a roundtable organised to mark the 2023 Drowning Prevention Day and sustainable Development Goals, in Lagos… recently PHOTO: ETOP UKUTT

Association of the University of Calabar. At the conclusion of their meeting, some of the students were offered the chance to go on a boat cruise to explore their maritime host city.

“Along the way, their speedboat capsized. Two medical students from Ahmadu Bello University, Zaria, and one medical student from University of Uyo drowned. Their bodies were later recovered by the police.

“Early in the morning on Monday, February 20, 2023, a commercial passenger ferry named Fazma Logistics, loaded with 17 passengers left Ikorodu ferry terminal, en route Ebute Ero. Near the Third Mainland bridge, close to Bariga, it capsized. All the passengers were rescued alive.”

Dr. Olugbile gave a global perspective saying, “According to the World Health Organisation WHO, there were 6,584 deaths from drowning in Nigeria in 2020. These were 0.44 per cent of total deaths in the country. The age-adjusted Death Rate from drowning is 2.17 per 100,000 of the population. Nigeria is ranked 107 in the world on the basis of frequency of drowning incidents.

“There is a heavy burden in terms of human misery, social

dislocation, and economic consequences following every drowning incident. A parent who loses a child to drowning carries a load of guilt and suffering that may endure throughout a lifetime.

“The World Drowning Prevention Initiative is spreading to ever-increasing numbers of countries across the world. It is being celebrated for the first time in Nigeria this year. The theme for the 2023 celebration is ‘Do one thing to prevent drowning’.

“The intention clearly is to spread the message to all the nooks and crannies of every country, and to generate action from governments as well as the public at large. The initiative, championed by Bridging Aquatics in Nigeria, will bring the problem to the forefront of public attention as a public health hazard that needs to be addressed.”

Chief Executive, Bridging Aquatics, Mrs. Danielle Obe urged stakeholders to collaborate to fight the alarming rate of drowning in Nigeria, in Africa and Asia, stating that “Each year, an underestimated 372 000 people die from drowning. Over 90 per cent of these are in Africa and Asia. More than 50 per cent of these deaths are under age

25, with children aged under five facing the greatest risk.

“Nigeria has the highest estimated number of drownings in Africa at 27,000 deaths per year. Whether it is little children slipping unnoticed into a pond, pool or well, passengers on vessels that capsize, or residents within proximity of water bodies (swimming pools, beaches, lakes and lagoons) or coastal communities struck by floods, the daily toll of this leading global killer continues to rise.

“Nigeria needs a national multisectoral drowning prevention strategy and action plan for increased public education and awareness on water safety that addresses bespoke local and regional community needs. The social and economic opportunities and benefits participating in aquatics have to offer are truly phenomenal and unmatched.

“From physical and mental wellbeing, sports, careers, transport and tourism, to all important water safety. Swimming is not just a sport. It is a gateway into the world of aquatics and most importantly, an essential life skill everyone should have. There is a consensus that water safety education (of which basic swimming is a part), is an important drowning prevention tool.”

Promoting Communities’ Managed Protected Areas Fadekemi Ajakaiye After several decades of oil and gas exploitation activities in the Niger Delta, hope for the restoration of communities’ degraded ecosystem remains largely a mirage.

The need for communities to have effective ecological monitoring skills led to the hosting of a training programme to that end.

Health of Mother Earth Foundation (HOMEF) organised monitoring training for Kono and Dic Fiberesima-Ama, both in Rivers State, Nigeria. The communities harbor important ecosystems including estuaries, mangrove forests, and other aquatic habitats. The training promoted and strengthened popular monitoring methods by communities, and provided

knowledge of the benefits of having people-managed marine protected areas that would help restore livelihoods for artisanal fishers and others.

The Executive Director of HOMEF, Nnimmo Bassey, while addressing community members, charged them to be eco-defenders and good monitors.

“We are here to share knowledge with you and share skills on how to protect our environment and live in harmony with nature and other beings. We need to be intentional in the protection of our environment because our well-being depends on it. We also want to learn how you have protected and managed some parts of your aquatic ecosystem with the objective of encouraging the government to support your

initiative and to create more community-managed Marine Protected Areas.”

Bassey further stated that having community members protect their environment like in the case of Kono, confirms that communities are the best eco defenders because they have deep knowledge of their territories and derive direct benefits from their environment.

“Kono community in Khana Local Government Area of Rivers State has been able to set an example that other Niger Delta communities should learn from. Through the use of cultural norms, the Kono community has been able to create a mangrove and Marine Protected Area (MPA) and has thereby ensured a healthy habitat for a diversity of species. We encourage other communities

to do the same in protecting their environment.”

Programme Manager and project lead for the Fossil Politics desk, Stephen Oduware, during the training, mentioned that communities depend on their environment and aquatic ecosystems for livelihoods, and expression of their cultures and traditions, and must be in the forefront in its protection. “There is the need to understand the issues that are affecting us in our communities. Before we begin to monitor, organise, and advocate, we must first, as community people, understand that our environment is important to us and determines our well-being.

When our environment is sick, we become sick as well.”

He stated that communities that protect their environment

must be recognised and supported with the tools to monitor and secure such environments for changes. They need to be supported to act as watchdogs, report changes, organize themselves, and advocate for what they collectively need as a people.”

The paramount ruler of Kono community, Chief Monday Anson Nwige, charged his community members to be vigilant and keep protecting their environment while demanding improvements.

“We need to protect our natural environment for healthy living.

We must learn how to use available tools to protect the source of our livelihoods as a people. We thank HOMEF for bringing this learning event to our community. We must, as individuals, learn to

play our part including in the management of our wastes.”

The training exposed challenges faced by coastal communities that are affected by oil and gas extraction activities. HOMEF trained over 200 community participants from Dic-Fiberesima and Kono and equipped them with the knowledge needed to monitor and advocate for communitybased marine ecosystem conservation. The training also examined the weight of impacts on the environment and the people as well as the power asymmetry between the government, the polluting corporations, and communities. The monitoring training exercises were supported by the Small Grants Project of the United Nations Development Programme (UNDP).

Port Harcourt Ring Road to Connect Communities, People, not Just LGAs, Says JBN MD Bennett Oghifo The Port Ring Road project, which groundbreaking was done recently, would connect communities and people, not just local government areas, the Managing Director of Julius Berger, Engineer Dr. Lars Richter has said.

Richter described the Port Harcourt Ring Road project as a sign of the continuing success of the collective journey to progress of the state government and Julius Berger.

He said, “The Ring Road will be a shining example not just of connecting places but connecting communities for development.“ Adding that the project will also alleviate traffic congestion in some parts of the communities even as

great opportunities for solid foundation of the communities will be built.

Rivers State Commissioner for Works, George Kelly Alabo gave the project description as follows: the project has been on the drawing board for decades.

It has a length of 50.15km with 45 km dual carriageway, 4.8km of 6 flyovers and a 350m rivercrossing bridge.

During the contract signing, Rivers State Governor Siminalayi Fubara said of the N195.3 billion contract sum for the Port Harcourt Ring Road, the Rivers State Government will pay 77%, totalling about N150 billion to commence the works. Governor Fubara also assured the contractor, Julius Berger that the State Government is committed to paying

the balance once it is certified that Julius Berger has completed about 75% of the job.

He therefore admonished Julius Berger thus, “…you have been doing well. Continue in that tradition and we will continue to give you our necessary support.“ He reminded all at the landmark event that the day’s event was in continuation of the contract signing ceremony which was executed last Wednesday adding that the development will eventually silence doubters in the state further informing that, “We have paid for the project.“ The governor said, “I listened to the Julius Berger Managing Director just now; especially where he talked about connecting communities. This is

very true.“ Governor Fubara explained further, saying, “This Port Harcourt Ring Road project is not about connecting local government areas. It is about connecting communities. This project will bring about new cities in Rivers State as accessibility to the State capital will become far much easier.“ Gov Fubara who further urged full cooperation from leaders and youths of the communities in the six LGAs where the Ring Road will transverse saying, “I urge the communities where the project passes to cooperate with the state government and the contractors for successful accomplishment of the project.

We seek your cooperation.

Compensation will be paid.

However, for any one or group

who will try to sabotage us concerning the works of the Port Harcourt Ring Road, we will bring down the big hammer on such individuals or groups. As for Julius Berger, we all know you have a good reputation for doing quality projects. Please do not fail us.”

The immediate past governor of Rivers State, Nyesom Ezenwo Wike Monday flagged off the Port Ring Road project construction with assurances to Governor Fubara and the people of the state that with Julius Berger as the contractor for the properly-funded project, it will be completed and commissioned ahead of the scheduled delivery date.

Speaking before he flagged off the project, the former Governor lauded the contractor

saying that, “…on this project, with Julius Berger (as the contractors), I can assure you that Julius Berger will not wait for the projected three years to complete the job.“ Wike said, “…by the time Julius Berger Nigeria Plc finishes this work, you will be happy, your children will be happy and everybody will be happy because you would have made the people happy.“ At the flag-off event were former Governor Sir Dr. Peter Odili, Senators and members of the House of Representatives, members of the Rivers State Executive, the Speaker and members of the Rivers State House of Assembly, as well as the Chairman and members of the Rivers State Council of Chiefs.

28

T H I S D AY ˾ WEDNESDAY AUGUST 16, 2023

EDUCATION Na’Allah: A Poet As a Pathfinder Raheem Akingbolu chronicles some of the achievements of Professor Abdul-Rasheed Na’Allah in the past four years as the Vice-Chancellor of the University of Abuja

D

ecades after it was established, the University of Abuja (UNIABUJA) struggled unsuccessfully to earn the required respect among the comity of higher institutions in Nigeria, which often led to being dismissed as nothing but a glorified secondary school. To salvage the situation, the Federal Government had in 2019 appointed Professor Abdul-Rasheed Na’Allah, the pioneer Vice-Chancellor of the Kwara State University, as UNIABUJA VC as a result of his visionary leadership in KWASU, which shored up the profile of the state University to emerge as one of the highest-rated state Universities in the country within five years of its operation.

Has Na’Allah lived up to expectations?

Has he upped the ante for the federal university? Has the status changed from being a glorified secondary school or not?

All these questions and others were pushed to various stakeholders of the University by our correspondent, and over 90 per cent of the respondents gave Na’Allah a clean slate of bills. However, a few students, even though they admitted that Na’Allah has done well in infrastructural development, prompt release of results, and establishment of new departments, criticised the Kwara state-born literature professor for what they call “indiscriminate increment of school fees.”

Prince Ezeabata Chibuzor, a 500-level Law student and founder of a creative group called ‘ACW-UA’, said the four years under Na’Allah changed the face of the university.

“The four years under Professor Na’Allah have inspired me as an individual, and it has inspired thousands of students to bring the best out of them. Though a Law student, I believe in creativity, and Na’Allah has given us a suitable environment for us to thrive. He introduced leadership training, entrepreneurial studies, and innovative programmes to groom young innovators,” stated Chibuzor.

The student added, “Many people are praising him because of his commitment to change the face of the school in the area of infrastructural development, but to me, his major achievement was in the area of social activities. I was admitted a year before he came, and I knew how we were living in fear in Gwagwalada because of insecurity and poor management. Today, UofA can stand shoulder to shoulder with any University in Africa. This is highly commendable.”

A postgraduate student, Abdulsalam Jamiu, a resident in Gwagwalada for over 30 years, said the best thing that has ever happened to the University was the appointment of Na’Allah.

“I had always thought UNIABUJA was jinxed until Na’Allah came on board. I had every opportunity to attend the University of Abuja when I finished my secondary school at Government Secondary School, Gwagwalada, but I opted for Ahmadu Bello University because UNIABUJA, as at then, was nothing to write home about. To meet up with the surging increase in the number of students being admitted, lecturers had to resort to using various primary schools in Gwagwalada for lectures,” Jamiu explained.

“As a result of this, most lectures were always in the evenings or at weekends when the pupils would be at home. Today, what we have is a University and not a mushroom.”

Jamiu said, “For Allah’s sake, this university was about 30 years old before Na’Allah came on board, and it was operating from a dilapidated secondary school where it started operation. Now we have an aesthetic environment, befitting classrooms, hostels, and accessible roads we can all be proud of.”

Mumuni Alanamu, a staff of the university, and Abdul-Azeez Suleiman, the University Vendor, regretted that the COVID-19 lockdown and ASUU strike disrupted Na’Allah’s tenure. Still, they also admitted that his record surpassed all the achievements of the previous five vice-chancellors and the two who operated in acting capacities.

Mumumi said, “To me, the greatest achievement of Na’Allah is in the area of opening up

VC, UNIABUJA, Prof. Na’Allah the university. In four years, more hostels have been built, the existing ones have been given a facelift, and more faculties and departments, like Communications Studies, Pharmacy, Nursing, Architecture, Aeronautic Engineering and others, have been established and accredited.”

Alanamu stressed that the one-term policy of the National Universities Commission prevented students from clamouring for another term for Na’Allah.

This is also the position of Suleiman, who argued that it’s difficult for anybody to talk about Na’Allah without reference to the university’s position before he assumed the school’s leadership.

“I have been the University vendor for as long as when it was established, and I can tell you that we haven’t gotten it this good under any administrator. If those who graduated between when it was established and 2019, when the current VC came, should visit the school now, they will not believe that UofA has become this good,” Suleiman explained.

In collaboration with Sandia National Laboratory, USA, the Central Laboratory Services unit of the university launched the UNIABUJA Biorisk Management System to ensure the biosecurity, biosafety, and biocontainment of infectious agents and toxins in laboratories.

Perhaps a little peep into the memory lane is necessary to understand further how the university has fared.

Established on January 1, 1988, as a dual-mode university with the mandate to run conventional and distance learning programmes, UNIABUJA was the first University

in the country to assume such a dual mandate at inception. According to a director in the Federal Ministry of Education, who didn’t want his name in print, the NUC was mandated to structure the university this way to provide opportunities for junior staff and middle cadre administrators in various ministries and agencies to further their educations.

UNIABUJA was established to provide an institution of higher learning within Abuja, the new Federal Capital, whose objectives will be in stride with the ideals that informed the conception of the city, said the official.

The matriculation of pioneer students of the university in 1990 marked the beginning of its academic work in its mini campus, Gwagwalada. In the same year, the university was allocated an expanse of land covering over 11,824 hectares along Abuja-Airport Road to develop its main campus. While the development of structures continued on the university’s main campus, it kept running its regular programmes in the mini campus and its distance learning programmes in Area 3 Garki. Unfortunately, for many years, UNIABUJA failed to meet the academic standards expected of a federal university.

At a time, the university had one of the lowest numbers of employed lecturers, with some departments having just three lecturers and many of the courses not properly run, the director revealed, stressing that “many state universities happen to be much better in terms of academic programmes and infrastructure.”

“This background informed the reasoning behind the decision of the Federal Minister of Education, under Prof Ruquayaat Rufai, to intervene. This intervention took the shape of an order that certain courses being offered by the University, including Medicine and Electrical Engineering, be removed from the course list,” the official pointed out.

“A few years later, NUC deleted Law. But today, Na’Allah appears to have restored all. It’s now a University of first choice, with qualified and enough lecturers and

In four years, the Na’Allah-led administration hasn’t only embarked on broadening the academic base by ensuring the accreditation of new courses by NUC. Still, he has left no stone unturned to recruit round pegs in round holes to assist in realising the dream of building a university of global status befitting Nigeria’s capital

conducive environment for learning. Kudos to Na’Allah.”

Responding to his contributions, Na’Allah issued a commendation note on June 30, 2023, in an email to the university community that the credit for all he has achieved should be given to students and staff of the university.

The vice-chancellor said, “Today marks my fourth year as UofA Vice-Chancellor, and I thank God Almighty and thank you all for the work you have done in support of your VC over the years. The truth is that whatever we have achieved over these four years is the result of your hard work and perseverance. It is not a result of anything I have done. I thank you from the bottom of my heart and pray to God Almighty to continue to uplift you and the UofA of Nigeria.”

He said his administration had worked tirelessly to challenge and change the status quo, a development he observed came with its inevitable consequences.”

Na’Allah added, “To many of you, we have brought serious inconveniences, and some even sought to resist some changes most vehemently, and yet some cooperated and worked along despite the hardship, with a belief in God’s support to lead us to a new height.”

In a tribute written in his honour by an international professor of history, Toyin Falola, titled ‘Abdul-Rasheed Na’Allah: The poet, playwright, and philosopher’, regarded Na’Allah’s contributions as “awesomeness and remarkable excellence,” noting that he served as vice-chancellor twice of two of the biggest tertiary institutions in Nigeria, Kwara State University (2009-2019) and the University of Abuja (2019-present).

“With a life devoted to scholarship and profound intellectualism, one that awes and wows me whenever we share moments, as recently as in mid-June, it is perhaps expedient to introduce Na’Allah to sections of the public who must have missed knowing him,” stated Falola. “Abdul-Rasheed, as his first name goes, is a man I fondly associate with tenacity, which may explain his relentlessness and astute doggedness in improving the standards of education in his immediate jurisdiction.”

Considering his background as a poet and playwright, many would have expected Na’Allah to be an armchair critic. But on his appointment as vice-chancellor of the University of Abuja, he vowed to tackle the poor infrastructure of the school as well as facilitate the emergence of merit and distinction in elevating the development of education.

In four years, the Na’Allah-led administration hasn’t only embarked on broadening the academic base by ensuring the accreditation of new courses by NUC. Still, he has left no stone unturned to recruit round pegs in round holes to assist in realising the dream of building a university of global status befitting Nigeria’s capital. By expressing his earnest determination to pull through the challenge of relocating the school to its permanent site, Na’Allah has resolved the greatest problems confronting the university’s development since its inception.

Two students of the university, Aramide Akanbi and Toyosi Adekoya of the faculties of Law and Education, respectively, called on their colleagues not to abuse the facilities provided by the management.

Akanbi said, “Beyond the university environment, one of the major challenges we have in the country is a poor maintenance culture, and this is why I want to appeal to my co-students to join hands with the authority to maintain the facilities on the ground.”

Adekoya, the president of the National Association of Ogun State Students (NAOSS), said, “For over 30 years, we clamoured for a standard university; now we have it, the onus now rests on us all to maintain the structures. The purpose of all these structures and programs will be defeated if we fail on our part to watch over them. Leadership is about leadership and followership.”

29

T H I S D AY ˾ WEDNESDAY AUGUST 16, 2023

EDUCATION

Proposed National JAMB Registrar Tasks Universities on Council of Christian Community Service, Development Education Bill Retroactive, Anglican Church Says Hammed Shittu in Ilorin

Segun Awofadeji in Gombe

As controversy continues to trail the proposed law on the National Council of Christian Education, the Church of Nigeria (Anglican Communion) has described it as retroactive and called for its withdrawal.

The church stated it reviewed the bill seeking to regulate and monitor the implementation and development of Christian Education in Nigeria.

According to a statement signed by Henry C. Ndukuba, the Archbishop of the Metropolitan and Primate of the Church of Nigeria, said, “By its title, the bill purports to introduce mandatory certification of the contents of Christian Religious Education, including Christian education syllabuses and curricula.”

The statement added, “It also seeks to approve and monitor how Christian Religious Education is taught in all schools and to accredit the programmes of Christian theological institutions and seminaries, and certify Christian religion education instructors.”

The primate stressed that the church considered the bill “retroactive and that existing church-owned seminaries and

religious faith-based institutions are not exempted.”

“The Church of Nigeria rejects the bill for being inconsistent with the provisions of the Nigerian Constitution by seeking to interfere with its entrenched constitutional rights of freedom of religion,” stated the Anglican Church.

Ndukuba added that “the establishment of curricula, the duration and content of training courses in respect of Christian education at any level, is recognised as being entirely within the prerogative of religious freedom guaranteed by the constitution.”

The statement insisted that “registered Christian churches such as the Church of Nigeria with long established and globally recognised training institutions and products must maintain the right to adhere to their own training methods and content and cannot have same curtailed,” recommending a “consultative forum to discuss the issues of concern relating to the regulation of standards pertaining to Christian education, without interference with the freedom to teach and to learn in accordance with long-established educational curricula of well-established

The Registrar of the Joint Admissions and Matriculation Board (JAMB) Prof. Ishaq Oloyede, has urged the universities’ management to pay more attention to community service and development.

Oloyede stated this in Ilorin at the maiden conference of the Consortium of Eight Kwara Universities (KU8) held at the main auditorium of the University of Ilorin.

The KU8 are the University of Ilorin, Kwara State University (KWASU), Landmark University, Omu-Aran, Ahmad Pategi University, Ojaja

University, Summit University, Offa and Thomas Adewumi University, Oko. Oloyede, the keynote speaker at the event with the theme ‘Transforming University Education in 21st Century: The Role of Stakeholders’, said, “You cannot design and build a university based on the local community as an outsider. We must become involved in their health, ecology, livelihood and through that add value to their existence.”

He added, “We cannot continue to go on strike incessantly without working on other areas of community needs that would enhance our

relevance. Also, we cannot afford to be trailing behind China, Singapore, Malaysia and even South Africa. We must go back to being developmental universities rather than leaches on society.”

Oloyede appealed to the Kwara Universities Consortium to brace up for the challenge of adding value to their host communities to advance the development of University education in the country.

The Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole, said in response to the need to promote development through cooperation, KU8 was formed

at the University of Ilorin on January 11, 2023.

He pointed out that one of the dangers of globalisation was the neglect of self, the immediate, and an obsession with the other, the foreign.

“While many of us have active collaborations with foreign universities, we are complete strangers to our neighbours, whereas international recognition should always be complemented by local relevance,” he explained.

Egbewole urged members of the union to be more committed to their various localities to transform university education in the country.

The Provost, Adeyemi College of Education (ACE), Ondo State, Dr. Samuel Akintunde (right), with the National President, ACE Alumni Association, Dr. Festus Oyebade, during the foundation-laying of the multi-million naira Alumni Guest House, at the college which was recently upgraded to a university by the federal government

Teach for Nigeria Graduates Implement 87 ‘Be The Change’ SASASNET Appoints Gasper West AfricaViceChairperson, Urges Training, Certification Harmonisation Projects Uchechukwu Nnaike

Teach For Nigeria (TFN), a non-profit organisation focused on enlisting Nigeria’s most promising future leaders to improve foundational learning outcomes and expand life opportunities for low-income children across Nigeria, recently graduated its fifth cohort of 197 outstanding change makers.

The 2023 graduating class implemented 87 “Be The Change” projects which are social innovation projects aimed at addressing some of the systemic challenges affecting quality education delivery in their schools and communities.

The graduation ceremony, which held in Lekki, Lagos, had policymakers, industry experts, partners, alumni, and stakeholders in attendance.

Some of the dignitaries were Frank Nweke, Chairman of ONTV Nigeria Limited, Lai Koiki, Chairman of Greensprings Educational Services Limited, Joshua Olalekan Ifede, Ogun State TESCOM Chairman, and Prof.

Abayomi Arigbagbu, former Commissioner for Education and Special Adviser to the Ogun State Governor.

Speaking at the ceremony, the Chief Executive Officer of TFN, Folawe Omikunle, commended members of the graduating class for their commitment to various community development projects.

“Through 87 impactful ‘Be the Change’ projects, they’ve tackled educational challenges, fought for equity, protected

the environment, promoted peace, ignited creativity, and fostered innovation for a more sustainable future,” she said.

Highlighting Teach For Nigeria’s remarkable impact in improving foundational literacy and numeracy, she said that students in Teach For Nigeria classes made between two-three months of additional learning gains in literacy and two-five months in numeracy compared to other students.

In his commencement speech, Frank Nweke Jnr, former minister and former Chairman of the Nigeria Economic Summit Group, expressed dismay at the quality of education in Nigeria. He however expressed optimism about the Teach For Nigeria Fellowship programme and its potential to address educational inequity challenges in Nigeria.

“The template created here at Teach For Nigeria clearly shows that transforming Nigeria’s education is possible under purposeful leadership,” he said.

Recounting her experience, Susan Benjamin, a graduating fellow, said, “through the Teach For Nigeria Fellowship, I have enhanced my leadership skills by implementing various projects in my placement community. I am now an ambassador for Social Emotional Learning.

“With the skills and opportunities I have been exposed to, I have rediscovered my sense of purpose and I remain dedicated to becoming a driving force for positive change in the African educational sector.”

Funmi Ogundare

Sub-Saharan Africa Skills and Apprenticeship Stakeholders Network (SASASNET) has appointed the President of Universal Learn Direct Academia (ULDA), Chief Olawumi Gasper, as its vice-chairperson for West Africa.

The election was held at the first meeting of the General Assembly, which is the highest decision-making organ.

In a statement, the Secretary General, Hon. Ousman Silah, explained that the vice-chairperson would work with the country focal persons (CFPs) in the regions under their purview

and guidance.

In a similar development, SASASNET has stressed the need for member countries to harmonise their training, qualification and certification framework.

The network was inaugurated recently in Abuja, with the primary objective to share experiences in apprenticeship training in the skills development agenda and enable members to become self-sufficient. It will also create an opportunity to share knowledge and experience regarding policies and practices on how to preserve and improve apprenticeship systems in the informal economy to promote

quality, innovation, economic development, and social justice and to support policy dialogue for the incorporation of good practices into national and regional training.

In a communique signed by Silah at the inauguration of SASASNET and the workshop, he expressed hope that the network will develop an African Skills Qualification Framework (ASQF) will enable ease of labour migration across the continent, especially with the upcoming Africa Continental Free Trade Agreement (AfCTA) initiative.

“Each member country shall develop its National Skills

Qualifications Framework (NSQF) with adequate provisions for the informal sector,” he stated.

Skills development activities, Sillah noted, should be streamlined under the National Skills Council (NSC) or similar bodies across member countries, adding that the network should ensure mapping and needs assessment of informal sector skills across the economy in collaboration with national public institutions.

The secretary general stated that the network would create an African Skills Passport (ASP) that allows legal skills migration within sub-Saharan Africa.

Glorious Schools Celebrate 20th Anniversary, Honour Oyo Deputy Speaker, Others Kemi Olaitan in Ibadan It was fun and exciting recently, at the grand finale of the 20th anniversary of Glorious Schools, Amuloko, Ibadan, in Ona Ara local government area, with management members, staff, and pupils gaily dressed to welcome guests.

The colourful and fun-filled event featured the celebration of pupils’ commitment, behaviour and achievements during the academic year and the school’s legacy of excellence in education and community development.

It also served as an avenue to

honour exceptional individuals, outstanding achievers, dedicated mentors and notable philanthropists.

The chairman of the planning committee, Prince Odumeru Adekunle, in his remarks, said the school was happy to celebrate its achievements in the last 20 years, stating that it was an opportunity to showcase the vision, commitment and dedication of the proprietor of the school, Dr Kolapo Temitope.

According to him, the proprietor has succeeded in providing quality education which has positively impacted

the lives of many pupils within the Oyo State capital and beyond, noting that this is a testament to his leadership quality and the school’s lasting impact on the community.

In his remarks, Dr Temitope expressed gratitude and appreciation to God for His unwavering faithfulness throughout the 20-year journey of the school, acknowledging that His guidance and blessings have been instrumental in the school’s success and growth over the years.

He also lauded Governor Seyi Makinde, Chief Dotun Sanusi,

Hon. Busari Olayemi and leaders of the People’s Democratic Party (PDP) in Oyo State and Ona Ara LGA for their unyielding support, which played a significant role in enabling him to emerge as the chairmanship candidate in the forthcoming local government election in the state.

The highlight of the ceremony was the presentation of the award to prominent Nigerians that, include Sanusi, the chairman of Ilaji Hotels and Sports Resorts, CEO of Fol-Hope Limited, Chief Emmanuel Ogunnaike and Deputy Speaker Muhammed Abiodun Fadeyi.

30

T H I S D AY ˾ ͯʹ˜ 2023

CITYSTRINGS

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ ÒÓÏ×ÏÖÓÏ äÏÙÌÓ ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͖͕͔͑͑͒͑͒͑͑͘

Strengthening Expertise in Fundamentals of the Internet and Cybersecurity In its commitment to reinforcing its dedication to bolstering digital expertise and the nation's cybersecurity defence, .NG Academy recently trained members of the Nigerian security agencies on measures to strengthen their expertise in the fundamentals of the internet and cybersecurity. Sunday Ehigiator reports

Participants and resource persons for the training

C

ybersecurity is the body of technologies, processes, and practices designed to protect networks, computers, programmes and data from attack, damage or unauthorised access. And the internet is a strong tool that enhances cybersecurity.

Simply put, the term cybersecurity refers to techniques and practices designed to protect digital data; it is the data that is stored, transmitted or used on an information system.

After all, that is what criminals want, data; hence it must be protected at all costs.

The network, internet, servers, and computers are just mechanisms to get to the data. Effective cybersecurity reduces the risk of cyber-attacks and protects organizations and individuals from the unauthorized exploitation of systems, networks, and technologies.

It was the need to better improve on the expertise of the Nigeria security agencies, that the academy conducted the three-day training programme from July 25 - 27, 2023.

The joint initiative is organised by the Economic and Financial Crimes Commission (EFCC) and the Nigeria Internet Registration Association (NIRA) through its .NG Academy was specifically tailored to meet the needs of security agencies in Nigeria given their crucial role in safeguarding the nation against cyber threats and attacks.

The training was well attended by high-ranking officials from various security agencies, including EFCC, Nigeria Police Force, Nigeria Customs Service, Nigeria Security & Civil Defence Corps, Code of Conduct Bureau, Department of State Security,

National Drug Law Enforcement Agency, Nigeria Immigration Service, Federal Road Safety Corps, and National Agency for the Prohibition of Trafficking in Persons.

Their presence reflected a strong desire to elevate their expertise in protecting Nigeria's digital space.

Throughout the event, the experienced facilitators shared insights into combating cyber threats. Their presence not only enriched the training but also provided an opportunity for security agencies to establish valuable networks within the industry.

In his opening remarks on behalf of the NiRA President, Mr. Muhammed Rudman, the lead facilitator, and immediate past president of the Nigeria Internet Registration Association (NiRA), as well as the CEO of Internet Exchange Point of Nigeria (IXPN), Mr Adesola Akinsanya expressed NiRA's commitment to collaborating with the Economic and Financial Crimes Commission (EFCC) to train law enforcement professionals.

He emphasized that NARA’s

primary objective was to empower security agencies with the necessary knowledge and expertise to safeguard the nation's critical assets from cyber threats effectively.

“By equipping professionals with cutting-edge skills, the Academy in collaboration with the EFCC is establishing a robust line of defence against cyber adversaries.”

He also highlighted the importance of creating a cohesive security ecosystem as the Academy in collaboration with the EFCC training programme aims to bring together key stakeholders from both the private sector and the government to foster collaboration and to collectively address cybersecurity challenges and offer capacity-building initiatives for the benefit of all involved parties.

Also speaking, Deputy Vice-Chancellor, IT, Research and Innovation at Baze University, Dr Rislan A. Kanya, examined the overall impact of cloud computing on human development in Nigeria.

He also examined the significance of policy, strategy, collaboration, and operational measures in enhancing human development through cloud computing.

In his address, the CEO of Cysec Nigeria, Mr Victor Idonor, highlighted information security principles and

Armed with the latest techniques and strategies, security professionals are now better prepared to safeguard critical infrastructures, protect sensitive data, and thwart potential cyberattacks

how they relate to cybercrime.

While Director, Programmes and Projects, African University of Science and Technology, Dr Daniel Omofoman; Director, Research and Development, National Information Technology Development Agency (NITDA), Dr Agu Collins Agu and Mr Chuks Onuoha spoke about Radio Frequency Identification Technology, its adoption and implementation as well as its increasing importance in law enforcement operations.

As the participants departed with newfound knowledge and strengthened capabilities, .NG Academy expressed dedication to fostering a safer digital environment through comprehensive and specialized training programmes.

In a statement made available to the press, it said, “The Academy's commitment to equipping security agencies with cutting-edge knowledge in the fundamentals of the internet and cybersecurity is expected to have a profound impact on national security.

“Armed with the latest techniques and strategies, security professionals are now better prepared to safeguard critical infrastructures, protect sensitive data, and thwart potential cyberattacks.

“As cyber threats continue to escalate in complexity and frequency, the NG Academy's initiative to strengthen security agencies' expertise in the Fundamentals of the Internet and Cybersecurity comes as a beacon of hope for safeguarding the nation's digital assets.

“By investing in the development of skilled cybersecurity professionals, Nigeria takes a significant step forward in establishing a secure and resilient cyber environment.”

31

WEDNESDAY, AUGUST 16, 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 14-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 257.73 258.88 36.19% Afrinvest Plutus Fund 100.00 100.00 7.14% Nigeria International Debt Fund 333.33 333.33 11.32% Afrinvest Dollar Fund 107.76 108.86 4.06% 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 11.80% AIICO Balanced Fund 4.44 4.52 30.45% 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 7.94% Anchoria Equity Fund 186.10 188.47 28.39% Anchoria Fixed Income Fund 1.31 1.31 6.26% 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 28.75 29.61 30.99% ARM Discovery Balanced Fund 629.55 648.54 20.78% ARM Ethical Fund 49.01 50.49 8.63% ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund 1.14 1.14 2.48% ARM Money Market Fund 1.00 1.00 9.21% ARM Short Term Bond Fund 1.04 1.04 0.22% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 97.77 97.77 7.73% AVA GAM Fixed Income Naira Fund 1,132.31 1,132.31 5.68% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.23 2.23 4.36% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.78 2.84 -9.41% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 5.22% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.63% Paramount Equity Fund 24.14 24.66 39.52% Women's Investment Fund 182.07 185.33 27.23% CHD Nigeria Bond Fund 98.79 98.79 12.11% CHD Nigeria Dollar Income Fund 1.00 1.00 11.33% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.57% Cordros Milestone Fund 154.26 155.50 20.55% Cordros Fixed Income Fund 107.32 107.32 9.79% Cordros Halal Fixed Income Fund 104.60 104.60 5.83% Cordros Dollar Fund ($) 112.69 112.69 7.27% 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 8.41% Coronation Money Market Fund 1.43 1.45 25.71% Coronation Balanced Fund 1.40 1.40 2.98% 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 1.08 1.08 11.09% Emerging Africa Balanced Diversity Fund 1.26 1.26 38.37% Emerging Africa Eurobond Fund 104.97 104.97 5.50% 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 1579 1579 11.72% FBN Balanced Fund 254.78 257.15 27.58% FBN Halal Fund 132.32 132.32 13.15% FBN Money Market Fund 100.00 100.00 9.96% FBN Dollar Fund 0.00 0.00 7.14% FBN Smart Beta Equity Fund 235.00 238.01 41.90% FBN Specialized Dollar Fund 110.62 110.62 9.52% 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 7.39% Legacy Debt Fund 3.53 3.53 -1.38% Legacy Equity Fund 2.61 2.67 30.76% Legacy USD Bond Fund 1.30 1.30 3.38% 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 5,151.37 5,186.22 36.21% Coral Income Fund 3,888.73 3,888.73 7.68% Coral Money Market Fund 100.00 100.00 9.65% FSDH Dollar Fund 1.17 1.17 6.11%

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 100.00 100.00 9.46% Guaranty Trust Balanced Fund 3.67 3.74 21.55% Vantage Guaranteed Income Fund 1.00 1.00 7.31% Guaranty Trust Equity Income Fund (VEIF) 1.67 1.71 27.79% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 8.03% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.79 1.83 12.43% Lotus Halal Fixed Income Fund 1,189.21 1,189.21 6.39% 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 16.02 16.14 38.35% Meristem Money Market Fund 10.00 10.00 10.80% 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) 102.84 102.84 11.66% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.88% Norrenberger Dollar Fund (NDF) ($) 102.50 102.50 12.18% 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 27.21% PACAM Fixed Income Fund 11.91 12.28 8.10% PACAM Money Market Fund 10.00 10.00 10.66% PACAM Equity Fund 1.94 1.97 36.72% PACAM EuroBond Fund 127.95 131.87 15.24% 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 162.36 166.94 1.15% 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 10.11% 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 4,582.63 4,620.14 35.19% Stanbic IBTC Bond Fund 252.66 252.66 7.25% Stanbic IBTC Ethical Fund 1.92 1.95 53.57% Stanbic IBTC Guaranteed Investment Fund 344.43 344.43 10.00% Stanbic IBTC Iman Fund 343.10 346.76 46.79% Stanbic IBTC Money Market Fund 1.00 1.00 9.39% Stanbic IBTC Nigerian Equity Fund 16,374.36 16,565.46 49.94% Stanbic IBTC Dollar Fund (USD) 1.42 1.42 10.27% Stanbic IBTC Shariah Fixed Income Fund 125.38 125.38 7.24% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 121.61 121.61 14.32% Stanbic IBTC Absolute Fund 4,828.83 4,828.83 13.51% Stanbic IBTC Aggressive Fund 4,665.24 4,722.78 67.79% Stanbic IBTC Conservative Fund 4,980.79 5,005.45 30.91% 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 1.22 1.23 33.87% United Capital Balanced Fund 1.71 1.72 32.01% United Capital Wealth for Women Fund 1.34 1.35 25.59% United Capital Sukuk Fund 1.13 1.13 11.74% United Capital Fixed Income Fund 1.90 1.90 6.89% United Capital Eurobond Fund 121.82 121.82 5.74% United Capital Global Fixed Income Fund 1.05 1.05 8.70% United Capital Money Market Fund 1.00 1.00 9.12% 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 6.69 6.79 65.95% Vetiva Consumer Goods Exchange Traded Fund 8.77 8.87 49.63% Vetiva Griffin 30 Exchange Traded Fund 24.00 24.20 35.55% Vetiva Money Market Fund 1.00 1.00 9.74% Vetiva Industrial Goods Exchange Traded Fund 28.31 28.51 41.46% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 142.17 144.17 -9.82%

REITS NAV Per Share

Yield / T-Rtn

121.54 54.96 101.29 10.08

6.80% 3.66% -11.73%

Bid Price

Offer Price

Yield / T-Rtn

20.58 93.50 244.00 17.40 16.40

20.68 93.50 244.00 17.50 16.50

32.89% -27.36% 141.94% 38.18% 60.54%

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.

32

T H I S D AY WEDNESDAY, AUGUST 16, 2023

BUSINESS/MONEYGUIDE

Saba: FG Will Use Fuel Subsidy Removal Proceeds to Revamp Economy Hammed Shittu ÓØ ÖÙÜÓØ

A member of the House of Representatives representing Edu/Moro/Patigi Federal Constituency of Kwara State, Hon. Ahmed Adamu Saba has said that the proceeds from the recent fuel subsidy removal by the federal government will soon be used to add more values to the socio-economic livelihood of Nigerians.

Saba however appealed to all Nigerians to continue to be more patient with the government in the ongoing effort to revamp the nation’s economy.

Speaking in Tsaragi town in Edu local government council area of the state during the empowerment programme organised for over 200 people of his federal constituency, Saba explained that, “I’m an economist, I don’t see what is happening today as hardship but as a process because the suffering we are passing through today is going to be joy tomorrow”.

He said, “In the past, people are making money through subsidy. They didn’t supply but they are making money. They give you exchange rate, you were selling dollars in the parallel market and they are making money at the expense of we people.

“You see fuel stations everywhere, they will take fuel from Lagos to here in Edu but they won’t bring it and they were making money. Now government say no to all these things.

Whatever money we are going to generate, let us use it for another thing.”

Saba added, “Look at the Central Bank today, they have shown their dividends and profits they have made so far. Other organisations too are making money. Go and check the profile of FIRS. The money is coming would be used to cushion the effects of fuel subsidy removal which we are suf-

fering today. So, tomorrow there will enough for all of us to eat.

“This is part of what we are doing here today as a palliative.

All of us should get prepared.

My concern for everybody in this country including the press is that they let people know the right thing that this government has taken a right step in the right direction because everybody will be able to stand for him or herself in the nearest future.

“But, if we want to continue so that few ones will continue to take our money, take our resources and we are supporting them, it means we are going to live in abject poverty and that is why we are saying. That is why this government stands very firmly on this issue.

We know in the first place, it will pain you, that is why President Tinubu always say we Nigerians should bear with the situation because it is going to be good for all of us.”

L-R: MD Johdic logistics, John Ekeanya; MD, DAD logistics, Donald Adekunle; Convener Chinet Aviacargo conference 2023, Ikechi Uko; Director Airstream Cargo, Anny Chigbo; Director Omni Blu Aviation, Capt Kenneth Wemambu, during the Chinet Avia Cargo Conference 2023 at GRA, Ikeja, Lagos…recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA)

Two Millionaires, 920 Cash Prize Winners Emerge in FCMB PromoDraw A driver, Mohammed Abdulrasheed and a businessman, Fatai Olanrewaju, have emerged as the latest millionaires in the ongoing First City Monument Bank (FCMB) promo season 9.

They each won the star prize of N1 million at the second draw of the Promo held on July 26, 2023. While Mohammed is based in the Hausa Tsoha Kasuwa community, Kaduna State, Fatai resides in Amuwo Odofin, Lagos.

In addition, 920 customers of the Bank won cash prizes of N100,000, N50,000, N20,000, N10,000 and N5,000, respectively.

The electronic selection of the

winners happened across four regions and 20 zones in the presence of officials of the Federal Competition and Consumer Protection Commission (FCCPC) and the National Lottery Regulatory Commission (NLRC).

Speaking on the Promo and draw, the Divisional Head, Personal Banking, FCMB, Mr. Shamsideen Fashola, said: “We celebrate our new millionaires, Mr. Mohammed Abdulrasheed and Mr. Fatai Olanrewaju, alongside 920 cash prize champions from Season 9’s second Promo draw.

We’re committed to expanding

these transformative benefits to turn dreams into reality for a wider audience. We encourage Nigerians to seize the chance to save and rewrite their financial wellness narrative through the Millionaire promo. Kudos to our new winners – your triumph fuels our drive to elevate lives via the annual Promo.”

To participate in the Promo FCMB Millionaire Promo Season 9, customers must have increased their balance by N10,000 and saved it for 30 days. This could be a new, existing or re-activated account. Multiple savings of N10,000 will increase the customer’s entries in the draw.

Irish-Nigerian Investment Conference to Boost Economy James Emejo ÓØ ÌßÔË The organisers of the IrishNigeria Partnership for Development and Growth Business Conference have assured of a robust business engagement between Ireland and Nigeria.

The thee-day event, which is scheduled to commence from October 27 to 29, 2023 in Dublin, Ireland will focus on driving innovation, fostering economic growth, and forging meaningful partnerships.

A thriving Nigerian entrepreneur based in Ireland and the owner of Mansion Foods, Mrs. Edizemi Onilenla, said the conference offers an exciting opportunity for both countries to strengthen trade

and investment ties.

Speaking at a media briefing in Abuja, Onilenla, popularly known as “Mamashee”, said the conference presents an incredible initiative that will undoubtedly pave the way for greater economic collaboration between both countries.

She said, “As someone who has experienced the challenges and successes of doing business in both countries, I am confident that this conference will open doors to new opportunities and strengthen the ties that already exist.”

The conference, organised by leading industry professionals and policymakers, aims to strengthen economic ties between Ireland and Nigeria

and create opportunities for collaboration and knowledgesharing with a specific focus on the industries of aviation, agriculture, technology, education, health, and infrastructure and promises unparalleled opportunity for growth and development.

Also speaking at the briefing, Deputy Head of Mission/ Charges d’Affairs, Embassy of Ireland, Abuja, Shane Rice, commended the initiative to boost economic ties, as well as deepen and widen the long-existing relations between both countries.

He said as the first embassy on the continent of Africa, Ireland had maintained relations with Nigeria since independence till date.

FG, FAO Move to Harness Untapped Potential in Millet James Emejo ÓØ ÌßÔË The federal government and Food and Agricultural Organisation (FAO) have come together to promote the cultivation, consumption, and commercialisation of millet in the country.

The collaboration will also help to identify the untapped opportunities within Nigeria’s agricultural sector as well as reinvigorate the role of millets as a key

driver of economic growth, social development, and environmental sustainability.

Speaking at the inaugural seminar celebrating the International Year of Millets 2023 in Nigeria, FAO Country Representative in Nigeria and ECOWAS, Mr. Fred Kafeero, said highlighted the immense nutritional value and their contribution to food security, poverty alleviation, and sustainable agriculture.

Kafeero noted that for

centuries, millets have played an important role in the sustenance and nourishment of communities across the globe, with India as the largest producer.

The Director, Nutrition and Food Safety, Federal Ministry of Agriculture and Rural Development, Mrs. Sugra Mamood, said millet, which is deeply ingrained in the country’s heritage and traditions remained of high economic value to farmers and processors.

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 16, 2023

33

MARKET NEWS

FBN Holdings’ Shareholders Approve N150bn Rights Issue, N0.50 Dividend KayodeTokede The shareholders of FBN Holdings (FBNH), yesterday approved the management decision to raise N150 billion via a rights issue and also approved the N0.50 dividend payout for 2022 financial year.

At the just concluded virtual 11th Annual General Meeting (AGM), the shareholders also approved the increase in

authorised share capital and a proposed N150 billion rights issue, with mandates to the board of directors to dictate the terms and conditions of the rights as well as dispose off rights not taken up during the period.

Shareholders approved all resolutions, including the approval of the audited financial statements and accounts for the year ended December 31,

P R I C E S MAIN BOARD

2022, payment of a dividend per share of N0.50 kobo and all other ordinary businesses.

During the AGM, the shareholders also appointed billionaire investor, Mr. Femi Otedola as a non-executive director of FBN Holdings.

Speaking virtually, the President Pragmatic Shareholders Association, Mrs Bisi Bakare commended the management’s N0.50 dividend

F O R

S E C U R I T I E S

DEALS

MARKET PRICE

QUANTITY TRADED

payout, requesting for further increase.

She pleaded to the management to resolve the dispute between Mr. Femi Otedola and for the interest of the financial institution and shareholders at large.

Bakare, called on the management of FBN Holdings to look into the interim dividend payout to shareholders, stressing that interim dividend

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

stands a chance to boost the image of the financial institution.

The President, Association for the advancement of the rights of Nigeria Shareholders, Mr. Umar Farouk commended the group’s 2022 performance and dividend payout.

He said that the N0.50 dividend is commended, questioning if shareholders should be expecting higher

dividend come the 2023 financial year?

He expressed satisfaction with Mr. Femi Otedola as a non-executive director, calling on the Chairman to resolve the dispute between two majority shareholders of the Holdings.

Farouk rebuked the protest of shareholders at FBN Holdings head office, demanding the management to investigate and prosecute involved shareholders.

AU G U ST / 1 5 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

LAUNCH OF IT’S MADE IN NIGERIA FURNITURE...

L-R: CEO of Overland Properties, Mr. Biyi Modile; Executive Secretary, Sultana Nabilah’s Cerebral Palsy Foundation (SNCPF) and Lead Consultant, Prinsult Global, Mrs Raliat Oyetunde; CEO of Designtactics Interiors, Mrs. Aisha Yusuf Ishaku; Chairman of Designtactics Interiors, Mr Yusuf Ishaku and CEO of Blackstone Capital, Mrs Lizzie Kings-Wali during the grand opening of Designtactics Interiors furniture factory and lunch of its made in Nigeria furniture brand in Lagos ... recently

Amina Mohammed Says Africa Best Investment Proposition of 21st Century Michael Olugbode in Abuja The United Nations Deputy Secretary-General, Amina Mohammed, has described Africa as the best investment proposition of the 21st century, in view of its natural resources, arable land and massive population.

She gave the verdict at the second

edition of the Africa Social Impact Summit co-convened by the Sterling One Foundation and the United Nations in Nigeria, and held in Lagos.

According to a statement yesterday, she cautioned that investment in Africa must go beyond extracting raw materials and emphasised that, “It must build the roots of

a modern economy, hard and soft infrastructure alike, and this must include bold investments into Africa's strongest asset, its people at the continental, national and local levels.”

She said: “The long term structural endowments of our continent are as strong as ever, most of the world's natural resources

are in Africa and 60 per cent of the world's arable land and a massive population of motivated youth, Africa is the best investment propositions of the 21st century.”

Mohammed, advocated for channeling massive, targeted investments into youth development, local employment and employability, climate smart solutions, education,

Google Commits N1. 2bn to Empower 20,000 Nigerians on Digital Skills Emma Okonji Google, through its philanthropic arm Google.org, yesterday, announced a N1.2 billion grant to "Mind the Gap" launching, an initiative that aims to equip 20,000 Nigerian women and youth with vital digital skills.

The investment aligns with the federal government's commitment to create one million digital jobs.

The program would offer training in diverse areas such as data science, artificial intelligence, web development, and mobile app development, utilising both online and in-person delivery methods.

Open to participants from all over Nigeria, the initiative seeks to engage those with a strong interest in digital technology, a promising academic background, and a dedication to uplifting their communities.

Please with the announcement, Vice President Kashim Shettima, said: "We need to think outside the box and pave the way for more job opportunities. As a nation, we must walk the talk. It's straightforward to discuss ambitious plans, but the real challenge lies in bringing these ideas to life.

“I want to assure Google and all our partners that this administration stands ready for collaboration.

Nigeria is open for business.

Our current president is deeply committed to leaving a legacy that will make Nigerians proud for generations to come. We have a unique opportunity to harness the potentials of our huge youth population to create millions of jobs in the digital sector. “With a larger English-speaking populace than many countries in Africa and

beyond, Nigeria stands out. We may have missed out on the agricultural and industrial revolutions, but we are now in the knowledge-driven, post-industrial age.

“The potential we have is immense, and we're uniquely positioned to bridge the anticipated global talent gap. Our intent to partner with Google is clear and unwavering. We seek to work hand in hand with you for the betterment of our nation."

This initiative consists of three components. The first is the 'Digital Onboarders Program', aimed at equipping 5,000 youth not in employment, education, or training with the necessary digital

skills, followed by their integration into consumer-centric businesses across 12 states in Nigeria.

The 'Arewa Tech4Ladies’ program would provide digital learning for women in four semi-urban and rural communities in Kaduna State for women in four semi-urban and rural communities in Kaduna State.

“Through this, 5,000 women and girls will be trained in areas such as data science and artificial intelligence. The final pillar is the Engage Nigeria initiative, which is designed to offer training and mentorship to 10,000 prodigious young talents across the nation, supporting the growing creative industry.”

Google Nigeria's Country Director, Mr. Olumide Balogun, said: "We see immense potential in Nigeria, particularly among the youth. Digital technologies aren't just tools, they're gateways to countless opportunities. “With these platforms, our dynamic youth can step forth, becoming pivotal players in the digital economy. Our grant from Google.org is not only an investment but a testament to our belief in Nigeria's bright future.

“We're honoured to support the Federal Government's admirable goal of creating 1 million digital jobs and will continue to be steadfast partners in this transformative journey."

N'Assembly Management Corrects Akpabio, Says ‘Token’ for Running Cost, Not Holiday Sunday Aborisade in Abuja The management of the National Assembly, has corrected the gaffe by the Senate President, Godswill Akpabio, saying the payment of two million naira to each of the 109 senators last week was meant for the running costs of their offices, and not for holidaying.

The clarification which came more than a week after the senators received the controversial money, was made through a statement by the Clerk to the National Assembly, Magaji Tambawal, and signed by the Secretary, Research and Information, Dr. Ali Umoru.

The statement lamented the criticisms that greeted the payment of the money since Akpabio, made

it public, shortly before the federal lawmakers embarked on their current annual recess.

It explained that the funds were actually appropriated for in the 2023 national budget, saying: "The attention of the Management of the National Assembly has been drawn to the persistent mischaracterisation and misunderstanding of the payment of a N2,000,000.00 allowance to each senator.

"It should be noted that the two million naira is part of the running cost of the office of each senator as provided for in the 2023 budget.

The allocation for running costs is not a new development; it has been a standard practice.

"These funds are utilised to facilitate various activities that

directly contribute to effective representation, legislative activities and other initiatives aimed at serving the interests of the people.

"For the avoidance of doubt, and for emphasis, the said allowances were budgeted for in the 2023 Appropriation Act. It is part of the running cost of the office of each Senator of the 10th Assembly.

The allowances are therefore an entitlement and not a privilege or largesse distributed to the Senators.

"However, given the wrong impression the subject matter has created, it has become imperative to make this clarification and put the records straight. The National Assembly remains committed to transparency and accountability in the management of public funds.”

health, renewable energy and improved water and sanitation facilities.

However, she cautioned that it would require the private and public sectors working together to scale the necessary financing instruments, guarantees de-risking mechanisms, to strengthen Africa's development finance network and its institutions.

Lagos State Governor, Babajide Sanwo-Olu, stressed the need for all to come together with a renewed spirit of collaboration, innovation, and determination, to build a prosperous and sustainable Africa for all.

Sanwo-Olu, who was represented by his Deputy, Dr. Obafemi Hamzat, said the various projections suggested that Africa would be home to over half of the world’s poorest people by 2030, which underscored the urgency and importance of the summit and the work all needed to do.

“I call upon the private sector, with its scale, sustainability, and innovation, to take the lead in driving change. We must harness the strength of our multi-stakeholder partnerships and leverage enterprisedriven innovations to create impact ecosystems that foster inclusive

growth and recovery,” the governor added.

The Chief Executive Officer of Sterling One Foundation, Olajeju Ibekwe, disclosed that the second edition of the Africa Social Impact Summit was a marked improvement on the 2022 edition.

She said: “I am also humbled by the intentionality of the private sector to own the sustainable development goals and move the needle. We are grateful to the partnership of the United Nations as our co-convenor for this conference.”

Earlier, the UN Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, emphasised that, “You can’t do business on a dead planet. Africa’s private sector can be a catalyst for change, supercharging our trajectory towards the 2030 Agenda.”

To achieve the pace and scale of transformative change that the world needs, Schmale noted that private sector investments must not just be motivated by profit but by considerations of what would have the greatest social impact.

He urged the CEOs and investors to embed sustainability into their decision making and align their business practices with the SDGs.

Wike's Visit to Ganduje Sparks Defection Rumours Adedayo Akinwale in Abuja The visit of the immediate past governor of Rivers State and minister-designate, Nyesom Wike, to the residence of the National Chairman of the ruling All Progressives Congress (APC), Dr. Abdullahi Ganduje, yesterday, in Abuja, has sparked another round of defection rumours.

Wike was the arrow-head of the Integrity Group — group of five Peoples Democratic Party (PDP) governors — that openly worked against the presidential candidate of the party in the 2023 elections, Atiku Abubakar.

While former Governor of Abia State, Okezie Ikpeazu, his Benue State counterpart, Samuel Ortom, the former governor of Enugu State, Ifeanyi Ugwuanyi, worked for the presidential candidate of the Labour Party, Peter Obi; the duo of Wike and the Governor of Oyo

State, Seyi Makinde, worked for then candidate of APC and now president, Bola Tinubu.

However, party stakeholders believed that the open romance of Wike with the ruling party, was only a matter of time before he announced his defection alongside his loyalist to the ruling APC. Though details of the meeting Wike had with Ganduje remained unknown at the time of filing this report, it might not be unconnected with his rumoured defection to APC. A chieftain of the party, who preferred anonymity, told THISDAY that while his defection to APC was not yet formal, but that making the ministerial list of the president was a strong pointer.

"Is he not a member yet? Someone that is a minister already," the party chieftain said.

Asked when his planned defection would be made formal, the source said he couldn't tell.

35

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

EX-THISDAY STAFF TAKES OATH AS COMMISSIONER IN ENUGU...

L-R: Governor of Enugu State, Dr. Peter Mbah, in a hand shake with Dr. Malachy Agbo, the new Commissioner for Human Development & Poverty Eradication, and Mrs. Nwanneka Agbo, at his swearing in… recently

PEPT: Govt Agencies Begin to Pull Down ‘All Eyes on Judiciary’Billboards ARCON DG queries director over approval Shaibu: You can't remove all eyes from being on judiciary Chuks Okocha in Abuja The federal government has begun to formally pull down the “Eyes on Judiciary” billboards targeted at the Justices of the Presidential Election Petition Tribunal (PEPT).

This was as the Director General of Advertising Regulatory Council of Nigeria (ARCON), Olalekan Fadolapo, has queried the agency’s Director of Regulations over his approval of the advert.

But the Special Assistant on Public Communications to Atiku Abubakar, Phrank Shaibu, yesterday, said the destruction of billboards was clear evidence of President Bola Tinubu’s

authoritarianism and assault on freedom of speech, saying could not remove all eyes from being on the judiciary.

The billboards had surfaced in many strategic junctions within Federal Capital Territory (Abuja) in expectation of the judgement of the Election Petition Tribunal Judgement.

In Abuja, for instance, the billboards were located at Dutse Alhaji, the Civil Service Institute and at the Area One Junction in Garki.

The picture of the billboards which was spotted on the Microblogging platform, X, formally Twitter, indicated that all eyes were on the tribunal judges. The billboards was sponsored

by Diaspora’s for Good Governance states.

However, Officials of ARCON and staff of the Federal Capital Territory were seen along the Nyanya axis bringing one of the controversial billboards down.

Sources confirmed that the director had already absolved his office of the approval of the adverts and promised ARCON would pull them down.

Olalekan, in the query cited by THISDAY, noted that the advert “is a clear blackmail against the Nigerian Judiciary and the Honourable Justices of the Presidential Election Petition Tribunal.”

Stating that the advert is capable of

instigating public unrest and breach of public peace, Olalekan said all advertisements that promoted a cause or idea capable of inciting national interest should first be brought to the Director General for review prior to presentation to the Advertising Standards Panel.

He, therefore, ordered the the Director, Regulations to explain why disciplinary actions should not be taken against him for dereliction of duty and asked that a reply should get to his office before the end of yesterday.

Already, the billboards have been pulled down in parts of the Federal Capita Territory (FCT) Abuja, and the

developments had elicited reactions from Nigerians.

Nevertheless, ARCON has suspended two top officials for approving the advert in Abuja.

A statement by the Director General of ARCON stated that the affected officials were the Director and Deputy Director Regulations of the council.

The DG said the advert was a clear blackmail against the Nigerian Judiciary and the Honourable Justices of the Presidential Election Petition Tribunal, saying it could instigate public unrest and breach of public peace.

Meanwhile, Shaibu, while reacting

to the directive by ARCON, said the entire incident reinforced the argument that election cases in court ought to be completed before beneficiaries of questionable elections were inaugurated.

He wondered how a message like: “All Eyes on the Judiciary" translated to a threat to society.

“The basic principle of social justice is about the people. The advertisers of the billboards only did what the norm is in civilised climes. It was the agents working to impress an interest that read meanings to that innocuous advert. Otherwise, it is a basic principle that eyes must be on the wheel of justice.

the crisis.

The CNG repudiated the suggestion to try Bazoum by the military authorities as well as every other move that potentially posed a threat to the peaceful resolution of the crisis and lead to escalation of any form.

Spokesperson of the group, Abdul-Azeez Suleiman, in a statement, described the threats as ill-advised and condemnable.

He stressed that it was shocking that the military statement came hours after a group of Nigerian respected Islamic scholars announced a meeting with Niger’s coup leader Abdourahamane Tchiani, in Niamey, saying the general had agreed to hold “direct talks”.

Suleiman said: “Any attempt by the military leadership in Niger to press charges against Bazoum will only likely increase tensions between the military in Niger and the international community."

African country.

Inonneh explained that the certified women mediators had been engaged by the global body to meet with the various women groups in the Niger Republic on the roles they could play to avert the looming war in the country, as a result of the Coup d'etat there.

"Conflict is not a good thing. When it occurs, the best means to resolve it is a political process, dialogue. My appeal to ECOWAS is to thread on the line of making peace through dialogue. There should be more of political dialogues.

"From an institutional perspective, we as United Nations entity for gender equality and empowerment of women, we have certified women mediators. We have just listed them.

"We have have contacted them and we are prepared to send them to Niger Republic with a view to having dialogue with other women in Niger so that they can be part of that peace process.

"The foundation upon which the United Nations was created, is promoting peace and therefore, we would always be on the line of peace. I believe that is what the Resident UN coordinator in the Niger Republic will be working towards also," he said.

Development Programme (UNDP).

Tchintchibidjaa noted that, member states of the ECOWAS must remain focused in their collective endeavour in the areas of peace and stability as to achieve the set goal of the organisation.

She said the call had become imperative in view of the fact that despite the overall appreciable progress made, particularly in the field of political governance, the subregion had continued to face considerable security challenges.

“The widespread public perception that national development plans and actions to improve socio-economic services through the provision of basic infrastructure and amenities such as healthcare, electricity, housing, employment, small scale business development and others are often perceived as elitist, exclusive and inadequate to serve the needs of communities.

"In other words, the state and the citizens do not view developmental needs from the same prism and often measure success or failure of policies and governance from different lenses.

"The recent trend of peaceful and violent demonstrations, call for a more in-depth discussion on the state and structure of inclusive governance in member states in line with the actualisation of the vision for a more stable, secure and citizen centered West Africa.

"Prevailing socio-economic challenges, manifesting through issues such as youth unemployment, has laid the foundation for new political and social movements by youth that challenge existing political establishments.

For his part, the Acting Resident Representative UNDP Nigeria, Mr. Lealem Dinku reiterated the role of internal politics in the role of insecurity in the region adding that democracy entails the ability of government to deliver to it's people the expected mandate.

TINUBU: WE’RE WORKING NOT TO COMPOUND NIGER’S CRISIS the regional body as disclosing these yesterday.

ECOWAS had earlier suspended a key military meeting on the crisis in Niger scheduled for August 12 in Accra, Ghana. It was learnt that the meeting was suspended indefinitely for “technical reasons”.

The meeting has, however, been scheduled for Thursday and Friday in Accra, Ghana.

But the German Development Minister, Svenja Schulze, has called for the immediate release of Bazoum.

The call by the representative of the German government came a day after the United States Secretary of State, Antony Blinken, urged ECOWAS to pile more pressure on the military junta.

Schulze stressed that the coup in Niger was "a setback that aggravates the complex development challenges in the country and in the Sahel further,” adding: “We call for the immediate release of President Mohamed Bazoum and for the full restoration of constitutional order in the Republic of Niger.”

She made this declaration in a statement on behalf of the Sahel Alliance.

NEF Urges FG to Remove Sanctions Imposed on Niger

The Northern Elders Forum (NEF), has called on the federal government to remove all sanctions and other measures intended to force the government and people of Niger into acquiescence.

Convener of NEC, Professor Ango Abdullahi, who made the call while addressing a press conference yesterday in Abuja, said it would make negotiations led by Nigeria, using all assets that both countries value, easier to conduct.

The body, however, rejected in totality, any attempt to overthrow the constitutional order by the Nigerien military.

Abdullahi noted that the safety of President Bazoum, his family and restoration of the constitutional order must remain non-negotiable priorities.

The elder statesman stressed that the military leaders in Niger must accord due cognizance and respect for the position of ECOWAS, whose fundamental principles and goals Niger Republic submitted to.

NEF noted that active negotiations regarding Bazoum and the plans of the military leadership in Niger should commence immediately, adding that Nigeria was uniquely placed to engage the leadership of Niger Republic to accept these with minimum delay.

Abdullahi stressed that President Bola Tinubu as the Chairman of ECOWAS and leader of Nigerians should explore ways of balancing these responsibilities without doing any injury to the position of Nigeria and Nigerians on Niger Republic and the unity of the ECOWAS. "The Forum notes the apology offered by the military leaders in Niger to our president over the manner his envoys, General Abdulsalami and His Eminence, Sultan of Sokoto were received. It advises that this should be treated as a sign of the respect and esteem with which Nigeria and President Tinubu are held by the putschists, which should not be wasted,” he said.

Akinyemi: ECOWAS Intervention to Prevent More Coups

A former Minister of Foreign Affairs and Professor of Political Science, Bolaji Akinyemi, yesterday, said the intervention by ECOWAS in Niger was a bid to stop the spread of coups in the sub-region.

Akinyemi explained that of recent, there had been reoccurring military coups in West African countries like Mali, Burkina Faso and Guinea, adding that the intervention was

expected.

“I haven’t heard one single commentator, even those who are criticising ECOWAS, applaud the fact that the coup took place in Niger.

ECOWAS simply said you have to draw the line somewhere and it is better drawn in the latest coup case.

“When President Bola Tinubu was elected Chairman of ECOWAS, obviously he laid down the parameters of his foreign policy and he said under his watch he was not going to allow coups to take place and he was not going to allow terrorism to take place. Those were the two legs which he identified in Guinea Bissau,” he added.

He explained that Nigeria as the head of ECOWAS, had every reason to be worried for the gradual return of military government in the subregion.

“Whether in Nigeria, Côte d’Ivoire, Senegal and wherever, you would want to put a stop to the creeping phenomenon of coups. Yes, Nigerians whether in the north or south have been very vocal against the military component of the policy of ECOWAS. “They felt that the military component being put on the table is so quick that there should have been more emphasis on diplomacy, dialogue and economic sanctions before you openly talk about military options.

“With the coup in Niger, soldiers in other countries would be looking at it and be thinking why can’t we replicate it in our country. The only thing that will put a stop to this creeping coupism would be an effective stop to the coup in Niger,” he said.

CNG Objects to Trying President Bazoum

The Coalition of Northern Groups (CNG), has warned that the threat

by Niger's military leaders to bring charges of treason against the ousted president Mohamed Bazoum posed threat to the peaceful resolution of

UN WOMEN to Send Mediators to Niamey for Peace Talks

The UN WOMEN, an arm of the United Nations championing gender equality, said it would soon send certified women mediators to the Niger Republic to enable them participate in the peace process initiated by the global body to resolve the crisis in the country.

The Deputy Representative, UN WOMEN in Nigeria, Mr. Lansana Inonneh, stated this yesterday at the sidelines of a Sensitisation Workshop on Women Peace and Security in Nigeria, an event organised in conjunction with the National Institute for Legislative and Democratic Studies (NILDS) in Abuja.

The UN boss appealed to the leadership of ECOWAS to embrace dialogue in resolving the current impasse caused by the illegal overthrow of the democratically elected government in the West

ECOWAS Seeks Return to Lagos Treaty for Stability

(ECOWAS has called for a return to the Lagos Treaty of 1975, which encourages inclusive governance system in order for the advancement of political and security stability in the member countries.

Vice President of ECOWAS Commission, Mrs Damtien L. Tchintchibidja, made the call yesterday in Abuja, at the launch of the project: Citizens Participation for Accountable and Inclusive Democracy (C-PAID), organised by West African Network for Peacebuilding (WANEP) in partnership with United Nations

36

WEDNESDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

FORMER APC PCC DIRECTORS VISIT APC CHAIRMAN...

L-R: APC National Chairman, Dr Abdulahi Umar Ganduje; Chairman, Forum of Former Directors/Secretaries of APC Presidential Campaign Council (FFDS APC PCC), Gen. Abdulmalik Jibril (rtd); Secretary, FFDS, APC PCC, PHOTO: ENOCK REUBEN Bar. Bisi Idaomi and Member of the forum, Temi Harriman, during the visit of the members of the forum to the APC National Chairman at the party's national secretariat in Abuja ... yesterday .

Olubadan Decries Proliferation of Illicit Drugs among Youths Kemi Olaitan in Ibadan The Olubadan of Ibadanland, Oba Lekan Balogun, yesterday, lamented the proliferation of illicit drugs among the youths.

This was just as he charged the National Drugs and Law Enforcement Agency (NDLEA) to remain up and doing in tackling the problem that is becoming cancerous.

Oba Balogun expressed the worry during the familiarisation visit of

the Oyo State Command of the NDLEA, led by its Commander, Olayinka Fadile, to his Alarere, Ibadan residence.

The anti-narcotics agency however also alerted about the rate at which youths abuse drugs, noting that they have graduated from hemp smoking to more dangerous synthetic drugs.

The monarch who was decorated as Ambassador of War Against Drug Abuse (WADA) by Commander Fadile during the visit, in a statement

by his Personal Assistant (Media), Oladele Ogunsola, said the entire traditional council of Ibadan, was worried about the unpleasant situation in the various community compounds in the hinterland of Ibadan, stating that young boys and girls now take pride in drug abuse without let or hindrance, and asked NDLEA to check the situation.

Oba Balogun who spoke through his Bobajiro, Chief Tajudeen Aremu,

said, “you cannot be more worried than me and my members of the traditional council in Ibadanland over the menace of drug abuse among our boys and girls in our community compounds.

“On our part, we won’t relent drumming it into their ears the dangers inherent in the crime. But we want more from your agency, especially through the deployment of your intelligence gathering unit.

“We assure you of our cooperation

and collaboration to stem the ugly tide. At the palace level, we are in constant touch with the Mogajis and Baales on the need to monitor their respective areas and ensure that all manners of crime are exposed for proper sanction. We won’t relent.

“Making me ambassador of your advocacy campaign is a welcome responsibility which will permeate the entire traditional system.” adile, in his remarks, disclosed that he assumed duty in the

state Command of the NDLEA a few months ago, stating that the visit was to strengthen the existing relationship between the command and the Palace.

“The task before us is challenging and there is no way we can do it alone without the involvement of our respective communities. When we talk of the communities, we are talking about the community leaders. This is how and why Your Imperial Majesty is involved.

to talks to resolve their differences, the second such attempt this year.

But Nigeria’s situation is made worse by the fact that it does not refine its fuels locally. With rundown refineries, Nigeria has been importing almost all its refined products from Europe and Asia.

in-depth thoughts were not reached, according to PETROAN's propositions, we are where we are today."

Admitting that spending N7 trillion, which the government was borrowing, in subsidy was undoubtedly not sustainable, the PETROAN boss argued that the government needed to have even worked out what the money could do for Nigeria before announcing the end of subsidy.

"Coincidentally, today, the aftereffect of the removal of fuel subsidy is coming on-board because these things are not done well. So, we need to get back to the drawing board," he said.

Gillis-Harry advised that the government should not work in isolation, noting that since policies are made for Nigerians, there should be a meeting of all the stakeholders before decisions can be reached.

According to him, "MOMAN, DAPPMAN, PETROAN, NMDPRA, NNPC, NARTO, FCCPC, and the presidency should have a meeting of minds, including the Nigeria Labour Congress because of their protection of the employees across the nation.

"So, these are things that need to be done, and it's not late to get back to that drawing board and work it out. Meetings that are being held today as far as my understanding is concerned, are half-baked and the requisite results will not be reached unless the subject is properly and holistically resolved."

The reactions came a day after oil marketers under the umbrella of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), said the foreign exchange crisis in Nigeria and the recent implementation of a 7.5 per cent Value Added Tax (VAT) on Automotive Gas Oil (AGO), popularly called diesel, had pushed up the cost of the commodity to between N900 and N950/litre in many states.

The marketers explained that their inability to access foreign exchange, particularly dollars, was impeding their ability to import diesel.

National President, NOGASA, Benneth Korie, who spoke in Abuja, said the cost of diesel was around N650/ litre before the federal government introduced a 7.5 per cent VAT on the commodity.

Although, he declined to speculate

on how much the product would sell in the coming weeks, he noted that petrol, diesel and even gas prices would rise further on the back of uncurbed rising value of the dollar to the naira.

Korie stated, “Diesel price is now approaching N900 to N950/ litre, depending on where you are buying it from. Before the introduction of VAT on diesel by the FIRS, diesel was around N650/litre.

“This increase in price is also due to the scarcity of the dollars. The government has to intervene in this dollar situation. All bank CEOs, CBN and others must meet to address this dollar issue. The way it is going, it will destroy a lot of things for us if it is not controlled.”

Former Chairman of Major Oil Marketers Association of Nigeria (MOMAN) and Managing Director of 11Plc, Oyebanji, however, warned that it would be dangerous to return to the subsidy regime. He attributed the hike in petrol prices and the resurfacing of scarcity in the country to a multiplicity of factors, including foreign exchange problems, the effect of international price of crude oil on refined products, as well as Nigeria's dependence on imported petroleum products.

Oyebanji said, "We all know why we all decided that deregulation was best for the economy. Part of the problem we have now is because of where subsidy took us. So if we decide to go back to subsidy, then we have to be very wary of the implications. At least, we have been reading about where our foreign reserve is at the moment.

"So when you have situations like that, the potential problem you will be dealing with will become a child's play compared to what is happening now. As they are speculating that our foreign exchange reserve is much lesser than what we think it is, then, the naira is gone.

"While we are easing the pain on the people by saying we will go back to subsidy; we are postponing the evil day for greater problem in future.

And there may be no remedy for that by that time. At least, one of the remedies now is removing fuel subsidy."

Oyebanji said the challenge now

was to find a way to manage the foreign exchange to stop it from driving up the cost of fuel. Specifically, he stated that the CBN must take some drastic actions to stem the foreign exchange problem, arguing that it is not demand and supply that is driving foreign exchange up.

Oyebanji maintained, "I think some people are just speculating and causing this problem. People will just take their salary, convert it to dollars and just keep it. So until your refineries are working and you are refining locally, it will reduce importation, then the only way out is to try and control your foreign exchange rate so that it doesn't lead to increasing prices every day.

"If you take money from somebody and you have agreed to pay him back at the exchange rate of 750/$, and that's what you used for your calculation, but now, you cannot find dollar at N750, you have to look for dollar at N900, you know you have made a very big loss and with that, your ability to continue the business has been impacted."

In his intervention, National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okonkwo, absolved his members of involvement in speculations about a hike in petrol pump price, saying IPMAN members have not even started importing the product.

“We are really saddened by these speculators who are making things to be very hard for us because by the time they hear, people will begin to adjust even the price of garri. This is not helping," Okonkwo explained.

He stated that the independent marketers, as distinct from the major marketers, were still getting their products from NNPC, which has not announced any price increase.

Okonkwo stated, “I want to state here that we are not making any effort to increase price. We are still getting our product from the NNPC majorly and they have come up clearly that they are not intending to increase price.”

Okonkwo explained that Compressed Natural Gas (CNG) would be a good alternative to expensive petrol, expressing the view that many of its members' stations were already putting facilities in place.

SUBSIDY IS GONE! LONG LIVE FUEL SUBSIDY swiftly addressed and cleaned up will ensure that we can maintain prices where they are without having to resort to a reversal of this administration's deregulation policy in the petroleum industry.

"I wish at this juncture to also provide a set of graphics, which the president has authorised me to share with Nigerians that otherwise would be confidential. These are graphics supplied to Mr. President by the NNPCL.” Ngelale explained, in his analysis of the illustrations, "In the graphics, what you will find is the present cost of refined premium motor spirit at the pump in each of the West African nations that neighbour us and I'll just name some, for example, even as I know, you will be showing your audiences the graphics, which the president has graciously approved for public release today.

"Senegal at pump price today of N1,273 equivalent per litre, Guinea at N1,075 per litre, Côte d’ Ivore at N1,048 per litre equivalent in their currency, Mali N1,113 per litre, Central African Republic N1,414 per litre, Nigeria is presently averaging between N568 and N630 per litre.”

He maintained, "We are presently the cheapest, most affordable purchasing state in the West African sub-region by some distance. There is no country that is below N700 per litre.

"So, this is the backdrop we have seen that at the inception of our deregulation policy as of June 1, as Mr. President took office, we have seen PMS consumption in the country drop immediately from 67 million litres per day consumption, down to 46 million litres per day consumption. The impact is evident.

"What it also does mean, though, is that we are not at the end of the tunnel. There is still a bit of darkness to travel through to get toward the light.

And we are pleading with Nigerians to, please, be patient with us.

"And as we promised from the beginning, we will be open with Nigerians, we will be transparent with them. And we are ready to show you exactly what it is that our nation is facing with respect to the illiquidity in the market in terms of foreign exchange, as a result of what is now known to have been a gross

mismanagement of the Central Bank of Nigeria over the course of several years preceding this time."

Kenya Reinstates Subsidy

Kenya returned a small subsidy to stabilise retail fuel prices for the next 30 days, the energy regulator said late on Monday, in a reversal of government policy following public anger over the high cost of living.

On coming to office last September, President William Ruto had removed fuel and maize flour subsidies put in place by his predecessor, saying he prefers subsidising production rather than consumption. The move was also aimed at cutting government spending, as the government sought to get a handle on debt repayments that had forced it to deny market speculation about a possible default, Reuters reported.

But the subsidy cuts as well as recent tax hikes increased living costs and contributed to violent anti-government protests in recent months.

The energy regulator said the maximum retail price of a litre of petrol would remain constant at 194.68 shillings ($1.35), shielding consumers from an increase of 7.33 shillings, which the government will shoulder through a price stabilisation fund.

Retail fuel prices are set in the middle of each month. The government also applied small subsidies on kerosene and diesel, the regulator said.

The move did not amount to a reinstatement of the subsidies, since the regulator was using the petroleum development levy to stabilise prices, rather than asking for exchequer support, said Daniel Kiptoo, director general of the regulatory agency for the sector.

Kiptoo stated, "We are basically giving to Kenyans the money that we have collected over the past couple of months," he told Reuters, referring to the levy, which is charged at the rate of 5.40 shillings per litre of fuel.

Fuel prices shot up when Ruto removed the subsidies. They spiked again in July after the government pushed through parliament a contentious law that doubled the fuel tax.

The protests organised in response to the law were called off last month after the opposition and Ruto agreed

Oil Marketers, Others React

National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr Billy Gillis-Harry, in a chat with THISDAY, described the federal government’s current approach to the fuel situation as “half-baked”.

However, former Chairman of Major Oil Marketers Association of Nigeria (MOMAN) and Managing Director of 11Plc, Mr. Tunji Oyebanji, warned that considering the country's depleted foreign reserves, any attempt

by Nigeria to return to the subsidy regime would plunge the country's economy into very dire straits.

Gillis-Harry said his association had for the last two years insisted that Nigeria should have a focused roadmap that will determine when subsidy removal and deregulation of the petroleum downstream sector would take effect.

He stated, "What that would have helped us to do was to be prepared for all of the issues that would come up, because you do not just wake up and bring out a policy based on some armchair economic projections of how the country would run, knowing full well that we are not producing enough power to power anything.

“Our industries depend on fossil fuel. Premium Motor Spirit (PMS) is the power that powers all our engines of growth, even in the smallest sense, our happiness and our serious businesses.”

The oil retailer noted that taking the above into consideration, there should have been serious preparation for the aftermath. He stressed that as it were, there was nothing to show that that much input went into taking the decision before it was taken.

Gillis-Harry stated, "So when you wanted to embark on fuel subsidy removal, you needed to have worked out a process on what should happen.

So, for the simple reason that those

WEDNESDAY AUGUST 16, 2023 ˾ T H I S D AY

37

NEWS

CONGRATULATIONS ON YOUR MARRIAGE…

L-R: Parents of the bride, Pastor and Deaconess Cyril Egbeme; newly married couple, Caleb and Faith Oki; parents of the groom, Apostle and Reverend Moses Oki, during the traditional marriage of their children at Orie- Irri, Isoko South Local Government Area, Delta State…recently

Herders Kill Couple, Injure Vice Principal in Plateau School Seriki Adinoyi in Jos A couple, Mr. and Mrs. Rwang Danladi, both teachers with BECO Comprehensive High School, Kwi in Riyom Local Government Area of Plateau, have been killed by herders.

The herders also injured the

Vice-Principal of the school, Mr. Dalyop Emmanuel in the attack which happened on Monday afternoon.

Confirming the incident to the media, the principal of the school, Mr. Dantoro Gyang said that the staff were having a routine meeting at about 2 pm when some herders

Flood Sacks Some Riverine Communities in Niger

Laleye Dipo inMinna

No fewer than 15 communities in the riverine area of Agaie Local Government of Niger State have been sacked by flood.

However, some of the communities were said to have relocated to higher grounds of their own volition following the increase in the water level of River Niger.

The exact population of the communities is yet to be known but unconfirmed reports say they are in several thousands.

THISDAY learnt that majority of those sacked by the flood have moved to communities in neighbouring Kwara State and to the upland in Mokwa town with some of them staying at the Basic Health Clinic in the towns.

When contacted, the Overseeing Director General of Niger State Emergency Management Agency (NSEMA), Mr. Salihu Garba, confirmed the story.

Garba said that the organisation is already addressing the problem caused by the relocation of the villagers.

grazed their cattle into the school premises. The school security guards confronted the herdsmen and as an argument ensued between them the staff

The Bank of Industry Limited (BOI) has disclosed that its investments in Rivers State are over N55.65 billion in various businesses from expansive corporations to smallmicro businesses in its bid to boost developmental financing.

BOI and the Rivers State government have also begun a developmental partnership geared towards propelling the state government’s policy endeavors to create sustainable economic opportunities The partnership was reached recently during a private meeting with Governor Siminalayi Fubara and

some top management of the bank, led by the Managing Director and Chief Executive Officer (MD/CEO), Olukayode Pitan, in Port Harcourt.

Pitan said: “As of today, BOI has invested over N55.65 billion across diverse projects in Rivers State. Our investments encompass large, medium, small, and micro enterprises, reflecting our commitment to fostering growth at every level.

Importantly, 55.31 per cent of our total investments in the South-south region are concentrated right here in Rivers State.”

“Our regional office that oversees our operations in the six states of the South-south region is located in Port Harcourt.”

the school premises, the staff came out of the meeting to see what was happening. We were trying to engage them on the need to vacate the school

premises when two of them suddenly brought out guns and fired at the staff killing two teachers who incidentally are a newly married couple.

Police Arrest Five Notorious Gang Members in Benue George Okoh in Makurdi

Five suspected bandits have been arrested in Benue State following a crackdown on criminals by the new state Commissioner of Police, Bartholomew Onyeka.

Those arrested included the second-in-command to the late notorious criminal, Terwase

Agwaza (aka Gana), and two suspects who specialise in manufacturing local guns of different types for armed robbers.

Briefing journalists in his office at the command headquarters in Makurdi yesterday, CP Onyeka said the Command under his watch would not tolerate criminality of any kind.

He said after he received briefs from his predecessor about the activities of bandits and other criminals in the state, on resumption of office, he deployed all available human and material resources to rid the state of crime.

The commissioner said the arrest is the outcome of one of

the current operations in the state.

He said: “On August 14, 2023, at about 0340hrs, officers from Operation ZENDA JTF Tactical Team trailed and arrested a dreaded and vicious bandit kingpin named Kumaor Fachir Daniel, popularly known as second in Command to late Gana on Adikpo-Ugbema road.

Group Charges Lawmakers to Domesticate Action Plans on Women

Blessing Ibunge in Port Harcourt

A group, National Institute for Legislative and Democratic Studies (NILDS), in collaboration with United Nations Women, has tasked various state Houses of Assembly in Nigeria to implement State Action Plans (SAPs) on Women, Peace and Security

(WPS).

The group made the call at a sensitisation workshop held in Port Harcourt, Rivers State, for lawmakers selected from Benue, Ekiti, Plateau, Nasarawa, Kogi, and Rivers State Houses of Assembly.

The Director-General of NILDS, Professor Abubakar Sulaiman, said the workshop took place as a

result of the rising insecurity in the country, which he said affect the woman and girls more.

Sulaiman said the Boko Haram insurgency in the North-east region, the farmer-herder crisis, resource-based conflicts in the Niger-Delta region, inter-state incidences of armed robbery, banditry and kidnapping among

others, have affected women and children.

Represented by the Director of Democracy and Governance, NILDS, Dr. Adewale Aderemi, Prof Sulaiman stressed that the conflicts has caused serious barriers to the economic and social development of the local communities in which they occur.

PDP Condemns APC’s Invasion, Killing in Bayelsa Community

BOI Invests N55.65bn in Rivers State ChuksOkochainAbuja NumeEkeghe

came out from their meeting to intervene.

Gyang said:“While the security men interrogated them on why they grazed into

The Peoples Democratic Party (PDP) has condemned the armed invasion of Opu- Nembe community in Bayelsa state, calling on the Inspector General (IG) of Police, Kayode Egbetºokun, to

investigate the role played by the All Progressives Congress (APC) and former Minister of State for Petroleum Resources, Timipre Sylva.

Addressing a press conference at the party secretariat, the National Publicity Secretary of PDP, Debo

Ologunagba, said that the party condemned the invasion, killing and maiming of innocent citizens in Bayelsa State communities particularly Opu-Nembe in Nembe Local Government Area by thugs allegedly recruited, sponsored and armed by Sylva.

The PDP spokesman said that it is clear that the intension of the APC in this invasion and killing in Nembe was to intimidate and instill fear in the people so as to prevent them from freely exercising their democratic right to vote a governor of their choice.

Awolowo Lauds Zenith Bank’s Commitment to Nigeria’s Non-oil Export Goal Yinka Kolawole in Osogbo

Former Executive Director of the Nigerian Export Promotion Council (NEPC), Según Awolowo, has tasked financial institutions on the urgent need to support Micro , Small and Medium Enterprises (MSMEs) and encouraged them to

participate in African Continental Free Trade Area (AfCFTA).

Awolowo stated this in his goodwill message delivered at the Zenith Bank Non-Oil Export Seminar 2023 , where he extensively highlighted the opportunities that abound in the AfCFTA, from automotive

to agriculture and agro-processing to pharmaceuticals to transport and logistics.

He lauded Zenith Bank for playing effective role in ensuring that Nigeria remained committed to her dream of becoming a non-oil exporting nation In a statement issued and

made available to THISDAY in Osogbo, Awolowo, who is the Secretary, National Action Committee of AfCFTA also observed that with a population of 1.3 billion people across 55 countries, and a combined gross domestic product (GDP) valued at $3.4 trillion.

Kano Gov Warns Prosecutors, Investigators against Human Rights Abuse Abiodun Appoints Lekan Adeniran CPS Ahmad Sorondinki in Kano fundamental human rights State Police prosecutors and He tasked the officers to James SowoleinAbeokuta The Ogun State Governor, Mr. Dapo Abiodun, has approved the appointment of Mr. Lekan Adeniran as his Chief Press Secretary.

The appointment was announced in a statement that was signed yesterday by the Secretary to the State Government (SSG), Mr. Tokunbo Talabi.

Talabi announced that the appointment would take immediate effect.

Adeniran, a graduate of Mass Communication, has over three

decades experience as a journalist.

He started his journalism career at The Guardian in 1992, where he covered the Social Democratic Party (SDP), Lagos State House of Assembly and Governor’s Office, Alausa.

He left The Guardian in 2001 to join the newly established Daily Independent.

The new CPS also worked with the Compass, Next and National Mirror.

Before the appointment, he was the Editor of Western Post, an online newspaper publication.

Kano state Governor, Abba Kabir Yusuf, yesterday warned prosecutors and investigators in the state of criminal cases against trampling on the

of suspects.

Yusuf spoke through the Director-General, Special Duties, Air Vice Marshal Ibrahim Umar (rtd), while declaring open a one-day workshop for Kano

investigators, which was organised by the state Police Command in collaboration with the state chapter of the Magistrates Association of Nigeria (MAN).

keep abreast with the state Administration of Criminal Justice Law (ACJL) 2019 to enable them carry out their duties within the ambits of the rule of law.

Nnewi Catholic Community Celebrates Philanthropist, Onwugbenu, at 70 David-Chyddy ElekeinAwka

The Catholic Community in Nnewi, Anambra State, yesterday celebrated famous philanthropist and Chairman of Louis Carter Group, Sir Louis Onwugbenu, as he marked his 70th birthday.

The celebration, which coincided with the feast of the assumption of the Blessed Virgin Mary, witnessed the presence of over 100,000 children from all the 102 Catholic parishes in Nnewi Catholic Diocese.

Several priests of the diocese

and businessmen who graced the occasion spoke glowingly of the philanthropist, attributing his health to his selfless service to humanity.

Rev Fr Hyginus Aghaulor, the chaplain of Block Rosary Crusade in the diocese, told THISDAY that: “Today is the solemnity of

assumption in the Catholic calendar.

It also coincided with the birthday of the benefactor of the Catholic Diocese, who is also the grand patron of Block Rosary Crusade in Nnewi Diocese, Sir Louis Onwugbenu, who is celebrating his birthday today.

38

˜ ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

BACK PAGE CONTINUATION DOES BRICS MATTER TO NIGERIA? Brazil’s President Luiz Lula da Silva and Indian Prime Minister Narendra Modi. Russian President Vladimir Putin has wisely elected to stay away physically from the meeting so as to avoid a situation in which the purpose of the summit would be overshadowed by a diplomatic row that could ensue because of his presence in South Africa. The International Criminal Court has issued a hypocritical warrant of arrest against Putin for alleged war crimes in Ukraine. Putin will participate virtually while his foreign minister, Sergei Lavrov, will be on ground in South Africa. The secretarygeneral of the United Nations Antonio Guterres and the chairperson of the African Union President Azali Assoumani of the Union of Comoros are also expected to attend the meeting. Countries in Asia and Latin America have also been invited to the summit.

Although views are divergent within BRICS on the parameters for admitting new members, yet 23 countries have already applied for membership of BRICS. Among the applicants are Egypt, Indonesia, Saudi Arabia, Ethiopia, Iran, United Arab Emirates and Argentina.

The expansion of the membership of BRICS is expected to be a major issue on the agenda in the Johannesburg summit. While Brazil is not enthusiastic about expansion and India is said to be seemingly reluctant, China supports the idea for its own geo-political reasons while, for Russia, it is a route out of diplomatic isolation orchestrated by the West. But all are united on shaking off the dominance of the American dollar in their respective national economies while each struggles to earn a place in the landscape of the global economy. So, while the summit’s communique may not contain a farewell to the dollar, reflections will be devoted on alternatives.

Incidentally, the man who coined the acronym BRIC in 2001 (before the admission of South Africa in 2010 to make it BRICS), Lord Jim O’Neill, was reported by the London Financial Times yesterday as describing as “ridiculous” the proposition that BRICS countries should have a common currency as a possible alternative to the dollar. He wondered if BRICS could create a central bank. He asked: “How would you do that?” This was apparently in response to Lula who has been radically championing the idea of a common currency. The huge irony is that the original conceptual promoter of BRICS now has a lot of uncharitable things to say about the economic group. O’Neill’s latter-day pessimism

Tinubu about an economic united front on the part of BRICS is hinged, among other things, on the “endless historical battles” between China and India. According to him, BRICS as a group has “never achieved anything since they first started meeting.” For him, that’s one reason America should not worry about any viable challenge to the dominance of the dollar. However, O’Neill is honest enough to admit that dominance of the dollar has been to the disadvantage of the emerging economies. He told the Financial Times: “The dollar’s role is not ideal for the way the world has evolved. You’ve got all these economies who live on this cyclical never-ending twist of whatever the (US Federal Reserve) decides to do in the interests of the US.” This reservation of O’Neill about the dollar is at least one point that should attract the attention of Nigerian policymakers and experts. After

all, the intellectual provenance of the BRICS is traced to O’Neill, who first mentioned BRIC in a 2001 paper he wrote as the chief economist of Goldman Sachs. He observed that the four largest “emerging economies” were contributing more growth to the world economy than the seven leading industrialised countries called the G7 - the United states, Japan, Germany, the United Kingdom, France, Italy and Canada. O’Neill had optimistic projections for individual members of BRICS especially China and India.

That was 22 years ago.

But it was not until 2009 that the BRIC countries began to meet yearly in a formal sense. The BRICS countries support the New Development Bank based in Shanghai, China, which they project as a counterpoise to the World Bank and the International Monetary Fund (IMF).

With a combined population of over 3 billion, the

BRICS represent about 40% of the world population and 26% of the global economy. Regardless of the western cynicism about BRICS, its collective economic and geo-political stature in the global arena is what is attracting other nations to join the group. These are countries which like to chart a different path to prosperity. Hence, BRICS cannot be ignored as a force. Inherent in the spirit of BRICS is actually the quest for a new world order freshly pursued in the 21st Century. As a western economist noted recently, the emergence of BRICS is a ringing statement that the G7 can no longer run the world economy the way it has done for decades with a contested history.

However, the lack of enthusiasm about BRICS in Nigeria among experts and policymakers is ideological and can easily be explained. The only model that is considered workable in Nigeria is the one approved by the World Bank and the IMF. Meanwhile, it is the United States that choses the president of the World Bank and the manging director of the IMF is always a European candidate. Policymakers in Nigeria still subjectively retains what was termed the TINA mindset in the course of the vigorous debate on the Structural Adjustment Programme (SAP) in the 1980s. The full meaning of TINA here is There Is No Alternative. It is a philosophical problem which is hardly discussed because it is assumed that successive administrations work with templates built with the same economic thoughts. For policymakers, no alternative could be contemplated outside the western orthodoxy.

Yet, countries in Asia that have moved up in the ladder of development have not been fixated with these IMF and World Bank models which our experts sell here with enormous energy and confidence.

The other day a television anchor wondered if South Africa could afford the risk of fraternising with Russia that’s under heavy western sanctions.

So, the gentleman expects America and its western allies to punish South Africa for opting for its own path to development and formulating its relations with other countries on that basis. Yet, no nation needs the permission of a superpower to chart its path to progress.

In sum, Nigeria should be interested in what is taking place at the BRICS arena. Alternatives should be explored in finding strategic solutions to Nigeria’s economic problems. That’s at least one reason why BRIC should matter to Nigeria regardless of what the western cynics say about the group.

STOP THAT SENSELESS NIGER MILITARY PROJECT the bottom.

Civilians who came to power in dubious conditions and entrenched themselves in all kinds of shenanigans have been among the loudest in the region’s leadership to call for a military intervention against the Nigeriens coup makers.

Their objective is to frighten the soldiers. To keep them away from the allays of political powers in a bid to maintain what had been the original arrangement after African nations gained independence, ie, that the political and military relations should be governed by the submission of the last groups to the formers.

That principle didn’t however survive long as, at the inception of African countries early years of political independence, over 60 years ago, the syndrome of the big men in power, ethnic-rule or bad governance made the first civilian rulers quickly become illegitimate -and hence the flurry of intrusion of military in African politics to rescue their nations as they cast their move.

In June 1999, at an Algiers Summit, held by the predecessor of the African Union (AU), namely the Organization of African Unity (OAU), African leaders, following a global trend towards democratization, on the back of the end of the Cold war with the demise of the communism, vertical, leadership, agreed to change the continent’s polity.

They decided that a pact making the military return to the barracks, controlling national borders, ensuring a secure national atmosphere and providing military engineering for national development and infrastructure would be matched by an improved, democratic, governance of the politics by the civilians.

That deal fell apart in light of the gross failure of civilians’ rulers to live up to their promise to do better than their Kaki counterparts.

What happened in Niger falls in that context where civilians once they get to power practice “one man, one vote, once”, never willing to exit democratically nor manage the resources of their countries for the national interest but for their private yearnings.

What prompted Ecowas to vade in with the warmongering language may have also to do with the fact that many of its national leaders have a conscience problem. Some of them, if not many, know they have not been elected in a transparent manner; others carry a lot of baggage having looted their countries’ purses and natural resources; and, worse, there are those who have blood in their hands considering their human-rights abuses and even killings.

The Niger military safari they recklessly validated is not surprising for any careful observer of politics in places where democracy is just a tool for achieving private goals.

The world indeed knows that when leaders, in such environments, get confronted at home with challenges

that affect negatively their popularity or legitimacy, one of the ways to extricate from their declining lot is to find a way to distract the attention of their compatriots is by finding a scapegoat or distracting project.

In this regard, the fastest bet is to create a war.

Argentinian militaries did just that by engaging over forty years ago in a war against the United Kingdom around the disputed Falklands/Malvinas Islands.

The Niger coming war -if ever it passes the rhetoric level- is not just one about going after a bunch of coup makers nor a derivation conflict alone.

Who is not aware of the geopolitics behind it? Here comes to mind France’s role in this saga. As, clearly, losing her grip on the former colonies she maintains through a solid web of indirect neocolonial strategies in Africa, including the control of their money, the supervision of their resources and security apparatus and the selection of their leaders, acting on her behalf and interests, France has been a driving force behind the tough stance Ecowas has taken on Niger. Even to the poing where it has mobilized the international community, from the United Nations, The AU, The European Union and of course Ecowas puppets eager to serve her wishes.

No matter what America says, despite her laudable efforts at mediating by sending to Niamey, Niger’s capital, Victoria Nulland, her number 2 diplomat, Washington has continued unfortunately to repeat Paris’s mantra. Stating that Ecowas, that is failing, must be supported. That is a stance that used to be the norm during the Cold war, from 1946 to 1989, when it agreed to a role-sharing with its European, former colonial powers, giving them the mandate to be in charge of Africa while it was focusing on the bigger picture, namely the containment of the Soviet Union.

No one can understand why when neocolonialism is being rejected across the continent and that former colonial powers have left Africa, why Paris remains still hell-bent to salvaging a divine ownership on over a dozen number of African nations.

The truth is that with herself and her Western allies calling for the sovereignty of Ukraine to be upheld in opposition to the Russian invasion, it has been suffering from since February 2022, how come France has managed to convince further the international community, to back the military solution to end the coup d’Etat in Niger? Many are also aware that it is only doing so to keep control of that hapless country’s uranium while stating the case that her colonial safari is not yet over.

We are living at a time when Francophone people and countries, not necessarily the Trojan horses Paris has kept at their helms, have engaged the battle for a genuine decolonization, the second and most earnest,

of their lands.

By covering the military coup, may be the “parricide”, as it is known in French parlance (killing of his adoptive father, Idriss Deby), by General Mahamat Deby, the French President, Emmanuel Macron, is in the midst of this confusing situation while making the local official players being put to use at meeting like those of Ecowas which create a new rupture between an organization losing touch with the pulses of their nations -and the peoples who no longer are aligned with its erratic behavior.

In light of the growing conundrum, we are now faced with a huge dilemma. Will France bankroll a neocolonial military adventure in Niger with the risk of transforming West Africa into a powder keg? Will it not be funny to see the African military forces being deployed under the supervision of France? How can Macron justifies this zeal when barely two and four months after he was sworn-in as Niger President, the same Mohamed Bazoum he is projecting as a democracy champion was celebrating next to him, on April 2021, the coup d’Etat made by Deby-son as the sole manner to contain the rebels lurking on Chad?

Let us not overestimate the talk of Russia taking advantage of France’s demise in West Africa. The war against Ukraine and the Wagner rebellion, albeit brief, exposed the status of Russia’s Putin: a giant with clay legs...

Let us also not believe that China is eager to mingle in this complex crisis. The decision to invoke “force majeure” by the Chinese firm Guezouba in order to stop the Kandaji dam it was doing in Niger is the confirmation that the Middle Empire is more capitalistic than ideologically driven: hence the wait-and-see attitude it adopts, based on the tenets of real-politics -namely it bids its time, as advised by one of his paramount leaders, Deng Xiaoping, the father of its economic reform, before following the winning side.

The biggest challenge this crisis lay bare is the democracy decay in West Africa. We have never witnessed such a regression. Rule of law is suffocating.

Corruption is rife. Social inequality destroys the social harmony. Ethnicism is back with a vengeance. Insecurity and terrorism all around. Human-rights trampled with. State-violence, the legitimate one, as argues Max Weber, is replaced by the surging of private militias, many created to sustain to power their masters. And, compounding this situation; sovereignty is being lost, even reduced, because leaders in the region are more dealers, willing to sell out what had been hitherto the pride of the nations they are in charge of.

Rescuing democracy will take more that bellicose rhetoric from the Ecowas leaders who are first and foremost compelled to show their true democratic colors before lecturing the world on what they don’t

practice at home. Going to war in Niger is an even worse proposition. Having failed to fight the rag-tags armies of terrorists and jihadists, unable to play a Leviathan role as the keeper of security in their national borders, most of them have become day-dreamers.

By announcing they will go to war in Niger to do what America failed to achieve in Somalia in 1993 and in Afghanistan (where it ended up negotiating with the Talibans), the West African leaders did not even take into account that they could not fly their Chiefs of Army Staff to a meeting place in Accra this past Saturday, August 12th. Now they will do the encounter on August 16 and 17th just to show off, to increase their bargaining capacity towards a military junta they know they can get out of power.

Too little, too late. Where will they get the muscles to carry the troops, maintain them, face the budgetary constraints to be added to their dire internal situation?

Who will foot the bill? Have they prepared a plan before going to war? Do they have an exit strategy?

With a landmass of 1, 266000 km2, in the hands of a military backed up by their citizenry and the population of West Africa, this harsh and inhospitable territory that Niger is may be the graveyard for many ill-equipped West African armies -and for France’s neocolonial remaining allure. And at the end of the day, the solution will be worse that the ill it was meant to cure may transform West Africa into a new Libya.

The signs are on the walls: the outcome would make of the region a big ball in fire, a volcano, while West Africa would fall further in all the metrics it had tried to meet by creating Ecowas on May 28, 1975.

This war talk is a joke that is better put aside than maintained as an unnecessary distraction for a region still grappling with challenges that make it the sick man of Africa.

Stop this nonsense...The shortest jokes, even those in the name of grandstanding or to seek legitimacy through proxy-wars, are the best. The West African leaders do not speak on behalf of democracy or the people of the region but only for the Club of civilian coup makers they want to be the sole in this league of criminals -the military is their fiercest competitors in this regard.

Restoring them once they lose power is not in the best interest of democracy, the world must be awaken on the complexity of West African politics...

As far as I am concerned, as an Ecowas citizen, I want to state it candidly: this war is not in my name! r"EBNB (BZF B GPSNFS %JSFDUPS PG $PNNVOJDBUJPO PG &DPXBT MJWFT JO FYJMF BGUFS CFJOH JMMFHBMMZ EFUBJOFE CZ UIF IVNBO SJHIUT WJPMBUJOH TUBUF PG 4FOFHBM )F JT UIF BVUIPS PG )PTUBHF PG B 4UBUF &EJUJPOT - )BSNBUUBO UIBU SFDPVOUT IJT PSEFBM

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

De Bruyne Out for Four Months Barely one game into the 2023/2024 Premier League season, Kevin de Bruyne could miss the next four months as Manchester City decide whether he needs surgery on a hamstring injury, according to Pep Guardiola.

The 32-year-old limped off after 23 minutes in City's opening win against Burnley at Turf Moor on Friday.

De Bruyne also went off injured

during the Champions League final win over Inter Milan in June.

"It's a serious injury," Guardiola announced yesterday.

The Belgium international missed all of City's pre-season matches and returned as a secondhalf substitute in the Community Shield defeat by Arsenal.

"We have to decide if he needs surgery or no surgery but he will be out for a few months," added

Guardiola, who confirmed De Bruyne's issue is related to the same hamstring.

"The decision on surgery will be taken in the coming days and could see him miss three or four months".

De Bruyne scored 10 goals and provided 31 assists as City claimed the Champions League, Premier League and FA Cup last season.

Oshoala’s Barcelona Teammate Propels Spain to Final Asisat Oshoala’s teammate at Barcelona Femeni, Salma Paralluelo, came off the bench to shoot Spain ahead in the 81st minute of a keenly contested semi finals with Sweden.

Aged 19 years and 275 days, she has become the second youngest player to score in a FIFA Women’s World Cup semi-final match after Canada’s Kara Lang (16y 348d) which was also against Sweden in 2003.

But in yesterday’s contest, the Swedes fought back seven minutes later to stalemate scores. However, within a minute, the pendulum swung back in Spain’s favour as Olga Carmona scored the decisive goal in the 89th minute to set up a showdown with Australia or

W O M E N ’S W O R L D C U P England on Sunday.

Carmona’s goal sparked wild scenes of jubilation among their supporters at Eden Park, Auckland.

Sweden - who have now lost back-to-back World Cup semi-finals - had equalised through Rebecka Blomqvist just 93 seconds earlier and it looked like the match would be going to extra time.

A game of few chances had sparked into life when substitute Salma Paralluelo, 19, gave Spain the lead with just 10 minutes remaining.

While Spain's players celebrated wildly on the pitch at full-time, Sweden's dropped to the floor as their World Cup dream came to

...Australia vs England Battle for Final Ticket Live on GOtv FIFA Women’s World Cup cohost, Australia will challenge European Champions, England at the semi-finals of the ongoing tournament this morning. The match will be broadcast live on GOtv at 11am.

The Matildas became the first Australian team to reach the semi-finals of a FIFA World Cup for either men or women when they defeated France on penalties in the quarter-finals.

They are keen to take it a step further against the Lionesses. The game will be broadcast live on GOtv SuperSelect 1 this morning.

The Aussies will be banking on their home crowd to cheer them to another giant killing victory when they take on England, as they look to become the second team since the United States in 1999 to win the prestigious tournament on home turf.

However, English defender

Ella Toone believes the Lionesses have the mentality needed to beat the Matildas inspite of their crowd advantage. England came from behind to defeat Colombia 2-1 in the quarter-finals and they also defeated Nigeria on penalties in the Round of 16 with ten players after Lauren James was sent off.

“There’s a belief in the squad that we can go out there and beat anybody we come up against. We don’t fear opponents. We know everyone wants to beat us, but we have a winning mentality.

We’ve had a lot of success and we want to keep doing that,” She told FIFA.com.

Meanwhile, the winner of this clash will face Spain in the final set to be played on Sunday after La Roja defeated Sweden 2-1 on Tuesday morning to advance to their first ever FIFA Women World Cup final.

NFF Confirms Negotiation with Peseiro Ongoing over New Contract

Olawale Ajimotokan in Abuja

The Nigeria Football Federation (NFF) has hinted that negotiations are going with Jose Peseiro over a new contract as Head Coach of the Super Eagles.

NFF President, Ibrahim Gusau, disclosed yesterday that Peseiro’s one-year contract ended last month, but due to the delay in the 2023 AFCON, on which the contract was based, the football federation will now have to discuss a new contract with the Portuguese gaffer.

“His contract ended in July and we’re now talking to him and his lawyers,” Gusau said.

“We hope to conclude very

soon and a decision will be made based on the recommendations of the technical committee.”

The Super Eagles round up their qualifying campaign for the 2023 AFCON on September 10 in Uyo against Sao Tome and Principe.

Gusau said the contract of coach of the country’s women’s team, Randy Waldrum, has also expired after he led them to the Round of 16 at the FIFA Women’s World Cup in Australia and New Zealand.

He said a decision on Waldrum will also have to be taken soon as the team will begin qualification campaign for the 2024 Paris Olympics next month.

an end.

There was little evidence of what was to come during a tight and cagey opening 80 minutes.

Spain boss Jorge Vilda opted to recall two-time Ballon d'Or winner Alexia Putellas, whose minutes on the pitch have been limited as she returns from a serious knee injury.

And it was Putellas who brought the biggest cheer of the opening half from the sell-out 43,217 crowd when she nutmegged Manchester City's Filippa Angeldahl.

It took until the 42nd minute for the first shot on target, Sweden's Fridolina Rolfo denied her third goal of the tournament by her Barcelona team-mate Cata Coll.

Spain dominated possession but Sweden's defence, which has been solid and resolute for the past month, frustrated their opponents for long periods.

Kevin de Bruyne...out for four months

Gov Fubara Rewards Victorious Rivers Queens with N50m Blessing Ibunge in Port Harcourt

Rivers State Governor, Mr Siminalayi Fubara has given N50million to Rivers Queens Handball Team for emerging female champions of the 2023 National Handball Competition, the first trophy to the state under his watch as governor.

Fubara announced the cash reward at the Government House, Port Harcourt, where the team led by the Captain, Hamzat Mohammed who also emerged Best Goalkeeper of the tournament, presented the champions' trophy to the governor.

The State Sports’ Commissioner, Christopher Green had told the governor the development, which also marked the first time in the history of Rivers, such trophy for the best team in the National Handball Competition would be won by the state.

Expressing delight on the victory, Fubara told the team, "This success and victory is not just for the team, but for the sports image of our dear state. It shows among the numerous works we are doing, we are also delivering quality sports enhancement projects".

He said "For this particular victory, the government is supporting the team with N50million.

This money does not belong to Ministry of Sports. It belongs to the team. I am told its a team of about 25 members. You people know I know calculations. So this could also help you (team members) and also your families.

"When we came on board, we were briefed on the challenges you face. We knew if we give you necessary encouragement, you would deliver and we didn't hesitate to do that. Today, we are happy, those encouragement have delivered this

NATIONAL HANDBALL CHAMPIONSHIP success to us. I commend you."

On advancing Rivers sports, Fubara said, "We will encourage sports at all levels. We intend to catch-them-young, rejuvenate sports development from the basic school level to the university, so that talents are harvested when they are still young and not when they are outliving the age of sports.

"You know we have sports age. After such age when you still indulge in sports, you then turn to one of our footballers they bought many years ago. They tested his age and discovered he

was over 40 years while posing as much younger youthfulness.

The team had to engage him in their factory.

"Our case would be when young, we show the energy to maximise our skills and talents and by the time we hit our prime, we have won all the laurels, accolades and fame, then we bow out honourably as role models and inspiration to the younger generations.

"So we will continue to supports sports and all Rivers people involved in it, not just for handball,

but for the various fields of sport."

Earlier, the Sports Commissioner, Green informed the governor that, "This is the first we are bringing to you. Rivers is not only known for football, but should be known in our sports. You are going to have many more trophies, from basketball, athletics, volleyball and others. We want to be at the top always.

"We have dearth of coaches due to retirement of many in Rivers. I appeal that the challenge be looked into because most of these coaches that come to Rivers are employed as civil servants which comes with bottlenecks of getting them employed through the system."

Governor Siminalayi Fubara receiving the National Handball Championship winner’s trophy from Rivers Queens Handball Captain, Hamzat Mohammed, at the Government House in Port Harcourt....yesterday

TR

Wednesday, August 16, 2023

UT H

& RE A SO

N

Price: N250

MISSILE NGO to Lawmakers “Sexual and other forms of gendered-based violence have not only allowed for an exacerbation of the already critical and perennial problem of gender inequality and discrimination in Nigeria, but further makes visible the absence of important instructional frameworks to protect women and girls” --A group, the National Institute for Legislative and Democratic Studies (NILDS) asking various state Houses of Assembly to domesticate of laws to protect women.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Does BRICS Matter to Nigeria?

A

skit circulating in the cyberspace is said to be the story of the Nigerian economy: in just two minutes the exchange rate of the naira to a dollar rises from N730 to N1,200.

In the hilarious video, a man desperately in need of dollars for a trip engages a seller of the foreign currency in a negotiation. The buyer is told that the exchange rate has changed from N730 to a dollar agreed before the meeting to N790. Although the buyer gets angry and insults his customer because of the hike, yet he reluctantly agrees to pay the new rate. But before the greenbacks could be handed over to the buyer the seller’s phone rings and he tells his customer that, in fact, the rate is now N830 to a dollar. Almost simultaneously the buyer gets a call from another source that the rate is N880. The buyer now gets angrier about the rising price of the dollar. He rains curses on the second customer. Even the physically present seller condemns the excessive rate from the other seller only for his own phone to ring again. The seller is informed that the rate has risen to N900 to a dollar. The seller again urges the buyer to pay the new rate while the later threatens to assault the former if the phone rings again. And before the seller could finish counting the dollar bills he gets yet another call that the rate is now N1,200 to a dollar, all within two minutes! With more curses and insults, the exasperated buyer carries the seller out of the scene…

Discussions of the state things in the economy seems to begin and end with the exchange rate of the naira to a dollar. Every economic problem

No nation needs the permission of a superpower to chart its path to progress.

Tinubu

Ramaphosa

of Nigeria seems to have a dollar dimension. The dollar question is clearly at the root of the fuel price crisis. Somehow, the fetishisation of the dollar has assumed an unimaginable proportion. You are sometimes told of the “dollar component” in the production of a commodity or the provision of a service that has no foreign input.

Senior Advocate of Nigeria Femi Falana calls it the “extreme dollarisation of the Nigerian economy” in a sharp critique of policies in the last few years from a political economy standpoint. Against

the laws of the land, domestic transactions are conducted in dollars by the few people who have access to the American currency. Dollar is used to buy property and pay rents within Nigeria.

School fees are professional fees are settled in dollars in the country. This trend is often ignored as the focus is on foreign payments when talking about the price of dollar. The lawyer has called on policymakers to explore alternatives to the dollar as some other countries are doing in the face of the economic crisis.

Among other suggestions, Falana has called for a debate on Nigeria’s membership of the BRICS, the acronym for a group of five countries - Brazil, Russia, India, China and South Africa.

These countries are largely defined by their geopolitical importance, rates of economic growth and, of course, their sizes.

Although “de-dollarisation” is not on the agenda, the use of local currencies among members will be in focus at the 15th summit of BRICS. Yet, in talking about approaches to get out of the economic woods in Nigeria, BRICS is never a popular topic among the experts and policymakers.

South African President Cyril Ramaphosa has invited President Bola Tinubu and other African leaders to the next month’s summit of BRICS in Johannesburg, South Africa. As the host, Ramaphosa said he would like leaders of the other African countries to take the opportunity of the August summit “to have a dialogue” with the other BRICS leaders - President Xi Jinping of China, Continued on page 38

ADAMAGAYE GUEST COLUMNIST

Stop that Senseless Niger Military Project

E

verybody saw the coming disaster but the Economic community of West African States (Ecowas) whose top leaders, the Heads of State and Governments of its Member States, excepted the four countries under military regimes they have outlawed -they blindly decided on July 30th that the military route is the wisest way to dislodge those militaries who staged a coup on July 26 against what they term a constitutionally elected President. That happened in Niger Republic. In an esprit the corps, the civilian rulers of the remaining 11 West African States declared they would go to war to ensure their mission to restore democracy in the hapless Sahelian nation is accomplished.

That was grandstanding at its worst. And immediately the feeling ran through the populace of the region and in far-flung regions of the world that in addition to talking tough to preserve their own status, the new political warriors were also suspected to committing an assisted suicide in the hands of France in a bid to help this lingering neocolonial power to maintain its grip on what is called its “pré-carré”, the francophone preserve made up of a confettis of remnants of its colonial past on the continent.

Niger Coup Leader, General Tchiani Ecowas’ decision shocked the world. This was the blunder of all blunders awaiting to fall on a West African region already plagued with countless woes, torn apart between its economic impasse, social and

security ills, political uncertainties -now comes in the hasty and headless decision by Ecowas to flex its weak muscles with a view to entering in a war, if needs be.

All this came about because its leaders without enough thoughts nor serenity decided barely four days after the coup d’Etat toppled their Nigerien pair that they would not want to be seen as giving to the latest pronunciamentos.

Dismissing their experts, not taken into account their proposition to go it gradually, and not properly consulting at home with their people or Parliaments, acting in an arrogant and blind way, the Authority of the Community as they are referred to, launched a series of unbearable economic sanctions against Niger, hurting strongly its people, along with an ultimatum to the authors of the coup plotters.

They were stark in their posture, calling them either to restore the ousted President, in the name of a sacrosanct constitutional order, within a week time, or face a military intervention that would force them out of office.

Never in international institutional cooperation has there been such a brutal response to an internal upheaval as the one the West African regional leaders have come up with to fix Niger’s latest bout of political

disruption with the military exiting their barracks and positioning themselves at the heart and helms of their country’s socio-political life.

For Ecowas to unleash such a blow to the Nigeriens new leaders, many believe, there must be serious reasons.

France’s minister of Foreign Affairs, Catherine Colonna said they had made the “coup de trop”, one drop too much, immediately echoed by Aïssata Tall Sall, her Senegalese counterpart, borrowing the same expression from her French conceptual leader, to justify the war rhetoric that shakes since then the whole West Africa.

Who may not see that under the threat to be the next domino to fall in a context when militarism or, to use a Nigerian concept, “militics”, is no longer a shame.

An Afrobarometer report recently stated that 53 percent of Africans feel now comfortable with that prospect. And a meeting held over the past ten days in Monrovia, Liberia, even posited that at least two coups d’Etat may rock West Africa before the year ends.

That means we are now experiencing a race to Continued on page 38

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com