WEDNESDAY 30TH AUGUST 2023

Lagos, Enugu Governors Jostle for Investors at LCCI’s Invest Nigeria Expo 2023 Sanwo-Olu says state committed to being Nigeria’s preferred investment destination Mbah woos investors with pledge to grant C of O within 72hrs, de-risked investment environment Dike Onwuamaeze Lagos State Governor, Mr. Babajide

Sanwo-Olu and his Enugu State counterpart, Dr. Peter Mbah, yesterday jostled for Nigerian

and international investors, wooing them to their respective states at “International Business Conference

and Expo 2023 Invest Nigeria,” that took place in Lagos State.

The business conference was

organised by the Lagos Chamber of Commerce and Industry (LCCI) in partnership with the Federal

Ministry of Industry, Trade and Continued on page 10

Wednesday 30 August, 2023 Vol 28. No 10367. Price: N250

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Report: Lagos Ranked Fifth Best African City to Live, Work... Page 12

My Success Depends onYour Support, Prayers, Fagbemi Tells Class of 85 Says judiciary critical in fight against corruption Alex Enumah in Abuja Attorney-General of the Federation (AGF) and Minister of Justice, La-

teef Fagbemi, SAN, has called on lawyers in the country, especially members of the Nigerian Law School Class of 1985, to support

him to succeed in his new task.

Fagbemi, a renowned legal luminary, who was recently appointed by President Bola

Tinubu to man the justice sector, described the judiciary as critical in the fight against corruption.

Speaking at the Annual Reunion

and Award of the Class of ’85’ of the Nigerian Law School, the AGF solicited the support and advice of members of the class

in the discharge of his duties.

Fagbemi was the pioneer memContinued on page 10

NNPP’s Crisis Deepens, Kwankwaso Suspended, Founder Expelled Juliet Akoje in Abuja The crisis rocking the leadership of New Nigeria Peoples Party (NNPP) took a turn for the worse yesterday, with the suspension and counter-expulsion of senior members of the party.

In the latest crisis, a faction of NNPP loyal to Founder of the party and Chairman of its Board of Trustees (BoT), Dr. Boniface Aniebonam, delivered the first blow by announcing the suspension of the party’s presidential candidate in the February 25 presidential election, Senator Rabiu Musa Kwankwaso. The NNPP National Working Committee (NWC) was also suspended by the BoT. The suspensions followed similar moves by the Kwankwaso group, which on August 25 said it had suspended Aniebonam and the national publicity secretary,

Agbo Major.

BoT Secretary, Babayo Muhammed Abdullahi, who announced Kwankwaso’s suspension during a press briefing on Tuesday in Apapa, Lagos, said he had been suspended for six months over anti-party activities.

But it was a jab sharp enough to draw blood.

In a swift counter move, the Kwankwaso faction announced it had expelled Aniebonam and some other party members with immediate effect. It alleged at a National Executive Committee (NEC) meeting held yesterday in Abuja that Aniebonam; National Publicity Secretary, Agbo Major; and Ope Aluko were engaged in anti-party activities.

The Kwankwaso faction accused Aniebonam of creating a parallel group within NNPP with Continued on page 10

IFC Invites Female Entrepreneurs to Apply for OBA OF BENIN VISITS BUHARI...

President Muhammadu Buhari (L) and the Oba of ancient Benin Kingdom, Omo N'Oba N'Edo Uku' Akpolokpolo Ewuare II, hosted 5,000 Startups Programme in Africa... Page 8 Former by the former president during a visit to his Daura residence in Katsina State… yesterday

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

NEWS

2023 INT'L CONFERENCE AND EXPO ORGANISED BY LCCI...

L-R: Ambassador of Burkina Faso to Nigeria, Passida Pascal Gouba; Ambassador of Indonesia, Usra Hendara Harahap; Ambassador of China, Cui Jian Chun; Former President, Lagos Chamber of Commerce and Industry (LCCI), Dr. Nike Akande; President, LCCI, Dr. Michael Olawale-Cole; Governor of Enugu, Dr. Peter Mbah; Chairman, BoT, LCCI, Chief John Odeyemi; Ambassador of Mexico, Afredo Miranda; and High Commissioner of India, Shri G. Balasubramanian, at the 2023 Int'l Conference and Expo organised by the LCCI in Lagos... yesterday

Road Construction: No Concrete Layout, No Deal, Umahi Tells Contractors Emmanuel Addeh in Abuja Minister of Works, David Umahi, yesterday, disclosed that on his watch there will be no contract award for road construction without concrete layout. Umahi said this in Lagos during an inspection tour of Oshodi-Oworonshoki-Ojota road as part of his tour of some roads in the state and other states within the South-west.

A statement by Director of Information, Press and Public Relations Unit, Ministry of Works, Blessing Lere-Adams, said the minister expressed satisfaction with the job done and noted that the road was about 99 per cent done, except for some finishing touches.

He wondered why some contractors were against the more durable and cost-effective use of concrete technology, that is the use of cement for road construction, despite its advantages over bitumen.

According to the minister, bitumen is more expensive and less

durable, a situation he attributed to the fact that the bitumen produced in recent times were of low quality.

The minister noted that despite the high number of heavy trucks that plied the road, it was still without defects, adding that if it was an asphalt road it would

have started failing and developing faults.

Umahi challenged contractors averse to the construction of concrete roads to come to Oworoshoki road to see an example of its advantage over asphalt.

At the Apongbon Bridge, the

minister lamented that some people were trading and selling chemicals under the facility. He noted that this resulted in the fire outbreak early in the year that caused huge damage to the bridge.

Umahi also expressed government's determination to rehabilitate

The federal government through the newly created Ministry of Steel Development has taken steps towards rejuvenating the nation's steel sector by announcing a comprehensive insurance coverage for all ongoing steel projects within the country.

The Minister of Steel Development, Shuaibu Abubakar Audu, made the declaration yesterday, during a meeting with key agencies under the Ministry in Abuja.

The projects that would benefit from the insurance coverage are the Ajaokuta Steel Company Limited; National Iron -Ore Mining Company, Itakpe; National Steel Raw Materials Exploration Agency; Metalurgical Training Institute and the National Metallurgical Development Center, Jos. During the meeting with the Directors-General of agencies, Audu explained that the deliberate policy of the present administration to introduce insurance coverage for steel projects was a to mitigate risks and uncertainties inherent in large scale developmental endeavours.

He further opined that by

At the Porto-Novo Liverpool roundabout bridge, the minister directed the Director, Design and Bridges, Adesanya Awosanya, to send the report on the structural defects on the bridge and other bridges that had similar problems to his office.

Lawyers' Show of Shame During Football Match Mars NBA Conference Alex Enumah in Abuja

The action of some lawyers during a football match in Abuja, on Monday, has put a question on the ethical conduct of some members of the legal profession.

The 2023 Annual General Conference of the Nigerian Bar Association (NBA), which kick-started smoothly

with a Moslem prayers last Friday, experienced some sore point on Monday, when some lawyers ended up in physical combat during a football match.

The match between the Abuja NBA team and their brothers from the Onitsha bar saw players exchanging blows over the officiating of the match which was said to be in

favour of the Abuja NBA. The action further brought to the fore the doubt if Nigeria could get better, considering the claims of lawyers that the country must move forward, lawyers must take the lead.

It was against this conviction that the leadership of the NBA chose to build this year’s conference theme on,

FG Announces Comprehensive Insurance Coverage for Ongoing Steel Projects Kasim Sumaina in Abuja

the bridge as soon as possible and install solar lights.

While at Iponri section of the Eko Bridge, Umahi called on the Lagos State government to urge the people using the premises under it to clean and beautify the surroundings.

providing the insurance coverage, the government aims to foster an environment that was conducive to attracting investments into the steel sector, secure financing and expediting the successful completion of various steel related initiatives across the country.

Audu noted that to ensure a structured successful implementation of the policy, the Ministry would outline a comprehensive two- year activation plan- adding that, "the strategic plan is designed to catalyse the revival of all steel associated interventions: Which underscored a steadfast commitment to achieving tangible progress within s stipulated timeframe."

Continuing, he however, stressed that the journey towards revitalising the steel sector was beyond insurance coverage, noting that, ''the government has devised a comprehensive overhauling strategy to tackle the multi- faceted challenges impeding the sector's growth.

"Central to this strategy is the optimisation of skilled labour and enhancing security measures to ensure safe and productive working atmosphere."

While citing other indices for solutions, Audu listed them to include the rehabilitation of the rail infrastructure connecting the Itakpe and Ajaokuta Steel Complexes; a functioning rail network for transportation of raw materials

a d finished products.

This, the Minister hinted has the potential to significantly boost the operational efficiency of the complexes, thereby positively influencing the entire street value chain.

‘Getting it Right: Charting the Course for Nigeria’s Nation Building.’

Ironically, the same day the fracas occurred, some lawyers seated at the velodrome, Moshood Abiola Stadium, venue of the conference, were being lectured on Ethics and Professional Conduct of Lawyers, regards anti money laundering and counter terrorism financing.

As at the time of filing this report the NBA leadership and the Public Relations Officer at the national level did not respond to calls as well as text and Whatsapp messages on the issue.

However, the chairman of the Garki Branch, Mr Ezen wobodo, condemned the act, stressing that, “it is not part of our culture”.

He disclosed that disciplinary action had already been meted out to the affected lawyers.

Meanwhile, a report by the Chairman of the NBA Sports Organising Committee, Mr Godwin Madubuko,

disclosed that a player and coach had been penalised over the incident.

The report read,”After the consideration of the incident report of what happened during the semi final match between Abuja and Onitsha Branches on August 28, 2023, the Organising Committee hereby issue the following; “The Coach of NBA Onitsha is barred from attending the 3rd place match fixed for August 29, 2023.

“The Player wearing Jersey Number 3, Tabai Braye, for the Abuja team is barred from attending or playing for the team during the final of the competition on August 29, 2023.

“The Coach of the NBA ABUJA team is given a touch line ban for the final of the competition fixed for August 29, 2023.

“The investigation of the incident is still ongoing. The Committee will issue the final report after the investigation.”

Zenith Bank Appoints Juliet Ehimuan Non-executive Director The Board of Directors of Zenith Bank Plc has appointed Dr. Juliet Ehimuan as a Non-Executive Director of the bank effective August 29, 2023.

The appointment, which was announced yesterday, in a statement to the Nigerian Exchange (NGX) Limited, has also be confirmed by the Central Bank of Nigeria.

Ehimuan is the Founder and CEO of Beyond Limits and the immediate past Director of Google West Africa.

She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world, and as one of the Most Influential People of African Descent (MIPAD).

She was also featured in the BBC Africa Power Women series, and on CNN Innovate Africa.

With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on Innovation, Transformation, and Leadership.

During her remarkable 12-year tenure at Google, she played a pivotal role in expanding the company’s presence in Nigeria and the wider West Africa region. She championed initiatives to increase digital access, local content development, skills acquisition, entrepreneurial growth, innovation, and fostered strategic partnerships with leading private sector and government institutions.

Ehimuan has made significant contributions to the tech ecosystem in Nigeria and Africa at large. She served on committees that developed

the national broadband plan and ICT incubation strategy in Nigeria, and has been involved in national strategic advisory groups focused on economic growth.

“These engagements demonstrate her commitment to shaping the future of tech in Africa. She has received numerous awards for outstanding contribution to the digital landscape in Africa,” the statement added.

She holds board positions across multiple industries including Finance, FMCG, Oil & Gas, Education and social enterprises.

Her education includes a Doctoral degree in Business from Walden University in Minneapolis, an Executive MBA from the London Business School, a Postgraduate

degree in Computer Science from the University of Cambridge; and a BSc in Computer Engineering (1st class honours) from the Obafemi Awolowo University, Ile-Ife. She is a recipient of the London Business School Global Women’s Scholarship, and at Cambridge University was awarded Selwyn College Scholar and Malaysian Commonwealth Scholar.

She is a Fellow of the Cambridge Commonwealth Society.

She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from Technology Africa. She is a published Author, Executive Coach, and a member of the Forbes Coaches’ Council.

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NEWS

COURTESY VISIT BY MEMBERS OF JAZZ CULTURE...

L-R (front row): Edo State Commissioner for Communication and Orientation, Chris Osa Nehikhare; Edo State Governor, Mr. Godwin Obaseki, and leader of Jazz Culture, Prof. John Ogene, during a courtesy visit by members of Jazz Culture, to the Government House, in Benin City... yesterday

Soludo, Elumelu, ANAN Hail Tinubu's Economic, Tax Reforms UBA chairman holds private meeting with president

Deji Elumoye in Abuja, DavidChyddy Eleke in Awka and Adibe Emenyonu in Benin City President Bola Tinubu yesterday, received accolades from the Chairman of Heirs Holdings and the United Bank for Africa (UBA) Plc, Mr. Tony Elumelu, over his policy decisions on the nation's economy since he assumed office about three months ago.

This was just as Anambra State Governor, Prof. Chukwuma Soludo, also commended Tinubu over his courage to remove fuel subsidy Elumelu, who spoke to newsmen after a private meeting with Tinubu, at the State House, Abuja, acknowledged that the president had taken good decisions in the interest of the country, saying the private sector had been encouraged by the steps taken so far.

According to him, all things done

by Tinubu so far had been in the interest of all Nigerians, especially women and the youths, saying in the long-run, Nigeria would benefit from it, all while imploring Nigerians to be patient with the president.

His words: “The private sector is encouraged with the bold decisions President Bola Ahmed Tinubu has taken and we hope that in the fullness of time, Nigerians will benefit from it because it’s all about the Nigerian people, it’s all about our youths, it’s all about making sure our women are involved and

empowered.

“It’s all about making sure our youths get jobs and I think Mr President has this at the back of his mind and I believe, as a private sector person, that the actions and the decisions the President is taking now will help our people in the long run."

He urged Nigerians to be more patient with the president and the ongoing process, saying, “a bit of patience, you know Rome was not built in a day.”

Similarly, Soludo, yesterday, commended Tinubu over the courage to remove fuel subsidy.

Soludo, who spoke during the 9th (7th Quadrennial) Delegates Conference of the Nigeria Union of Teachers (NUT), Anambra State wing, described the removal of subsidy as necessary.

Soludo stated that the removal had the potential of re-engineering the nation's economy.

He said: "It's high time the country woke up to the reality that it is a poor country and begin to live within her means.

"Starting from those in leadership, there was need to begin to live and demonstrate to the people that Nigeria is a poor country.

"The reality of the subsidy removal affected everybody and not just civil servants. The present administration's plan to cushion the effects was all-encompassing, including the immediate and medium term efforts."

Soludo said his government would recruit more teachers and continue to give accessible and quality education to the citizenry.

Relatedly, the Association of National Accountants of Nigeria (ANAN) lauded the steps so far taken by Tinubu’s government on the country’s fiscal and tax reforms which it said would free resources for the ordinary people in the long run National President of ANAN, Dr. James Neminebor, gave the commendation in Benin City, capital of Edo State, yesterday, at

the 4th Session of the Mandatory Continuing Professional Development (MCPD).

He said the essence of the MCPD was to update members of ANAN on modern techniques and standards in accounting so that they could produce the needed and relevant data for government and private organisations to plan.

According to him, “The new government has been very pragmatic, it is like they know what they are doing. He (the president) has just put up a committee that will lead the fiscal policy of the

Emmanuel Addeh in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI), in collaboration its partners yesterday launched a programme to identify Politically Exposed Persons (PEP) in the oil, gas and mining industries.

The web-based platform created to cross-reference the various data sources on politically exposed persons seeks to highlight red flags in the licenses award processes in the country’s extractive sectors.

Speaking at the event in Abuja, the Executive Secretary of NEITI,

Dr Ogbonnaya Orji, said the move became necessary because the challenges and risks of anonymous beneficial owners of extractive assets in resource-rich countries result in monumental corruption.

According to him, it has also led to tax evasion and diversion of the country’s wealth into the pockets of a few privileged individuals.

Some of the partners include Directorio Legislativo, BudgIT Foundation as well as Transparency in Totality, among others.

Orji stated that the programme tagged: ‘Connecting the Dots’ will

Institution wants any enquirer to state mission Chicago State University (CSU) has locked its official X account (Twitter account), due to heavy traffic and enquiries about President Bola Tinubu academic records.

In the X account of the university, there was the ‘protect your posts’ feature that allows users to disclose their mission from persons who are not followers.

This, it was learnt was due to new enquiries to those who were not usual visitors to the X account of the university.

Owing to this, any new visitor to the social media account was

asked to disclosed the purpose.

When THISDAY visited the Chicago State University social media account, a notice posted private was placed on it.

“These posts are protected. Only confirmed followers have access to @ChicagoState’s posts and complete profiles. Tap a Follow button to send a follow request,” it stated.

Meanwhile in a post on the PDP website, Angela Liu, who is Atiku’s Attorney for the case against Tinubu about the Chicago University Certificate, argued that the university never gave the president any certificate.

The application made in Case No.

Officer of ANAN, Dr. Kayode Fasua, said ANAN and all other financial bodies must be involved in the fight against fraud in the country, adding that, “the issue of fraud in Nigeria is not the job of the gate keeper alone, but something that is endemic that all of us must know that many people perpetuate what is fraudulent without even realising that it is fraudulent because it has become a part of us that is why there is need for that continuous sensitisation which we give at our various fora which we give also to the government.”

NEITI Tightens Noose on Politically Exposed Persons, Launches Anti-corruption Platform

Tinubu’s Certificate: Chicago University Locks X Account over Huge Traffic from Nigerians Chuks Okocha in Abuja

administration and incidentally all the financially involved professional bodies are in that committee; ICAN is a member, ANAN is a member, CITN is a member and myself, I am a member of that committee.

“We are articulating what the fiscal policy of this administration will be and of course the tax reforms because if we change the fiscal policy and the tax reform will bring some relief to the ordinary person that is why the government is there, government is not for itself, it is for the people.”

On his part, the Chief Executive

23-cv-5099 was filed pursuant to 28 United States Constitution 1782.

The post stated that Liu already submitted a 24-paragraph declaration in support of the application, pursuant to 28 U.S.C 1782, for an order granting leave to serve the Subpoenas to Chicago State University attached to the Application as Exhibits 1 and 2.

Angela Liu stated, “How can you have two certificates issued by the same university, to the same person, for the same course of study, but issued on different dates and signed by two different people.”

According to Atiku's lawyer, the certificates which Tinubu submitted

in Nigeria were different.

“The first Chicago State University certificate which Bola Tinubu submitted to INEC was issued on 22nd June, 1979, and signed by three signatories including a certain Dr. Elnora Daniel, whose signature is dated 22 June 1979.

"The second certificate supposedly issued to Mr. Enahoro by Tinubu and tendered at the PEPT was issued on 27th June, 1979, and now signed by two people and the same Dr. Elnora Daniel, signed it but now the date changed to 27th June, 1979, and a certain Dr. Niva Lubin also signed."

Continues online

facilitate transparency and accountability in Nigeria’s extractive sector and contribute to the unfettered and public access to data on politically exposed persons in Nigeria.

“NEITI piloted the first Beneficial Ownership (BO) reporting in 2013 and officially launched a BO register in 2019. At the global EITI level, all implementing member countries are required to report on the BO of the country’s extractive assets.

Globally, over 100 countries have made commitments to implement BO reforms”, Orji said.

He added that in the past one year, NEITI had provided the technical support for the project and backed it up with the relevant data and information.

“Joining the Dots-JTD is a tool that cross-matches the data on beneficial ownership and politically exposed persons against oil, and gas and mining licenses in other to detect the existence of conflicts of interest,” he noted.

According to him, NEITI’s mandate is to ensure transparency and accountability in the nation’s oil, gas and mining sector and has made copious recommendations in its annual industry reports.

Orji explained that he believed that a collaborative approach for obtaining, verifying, and holding beneficial ownership information involving all critical stakeholders could facilitate the adoption of trusted mechanisms for determining real beneficial ownership of oil, gas and mining assets.

“Therefore, under the global extractive industries transparency initiative, NEITI is determined to

push the boundaries of implementation of international standards on beneficial ownership transparency.

“This includes adoption of BO transparency reforms, assessment of risk of misuse of legal entities, and implementing progressively best practice in beneficial ownership transparency relying on access to data to me made available by connecting the dots project,” he noted.

In her remarks, Favour Ime of Open Ownership, which supports countries in deepening transparency in the extractive industry, said beneficial owners of assets in the sector were largely hidden.

“We don’t know who is bidding for the contract. We don’t know who owns what. The Economic and Financial Crimes Commission (EFCC) and other law enforcement agencies can’t fight crime under such an arrangement. The people don’t know who mines their resources.

“We need to know who’s really controlling the natural resources in Nigeria. That’s why we’re here. I’m very proud to say Nigeria was the first to launch a Beneficial Ownership Register in 2019,” she stressed.

Also, The Registrar General of the Corporate Affairs Commission (CAC) represented by his Special Assistant, Mr.Tever Ayua, in his goodwill message commended NEITI and all stakeholders for their leadership role and efforts on the project.

In his comments, Mr Juan Krahl of Argentina‘s Directorio Legislativo, explained that assessment of data requires adaptability and creativity as joining the dots differs in different countries.

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NEWS

HONOUR FOR THE NEW MINISTER OF INTERIOR...

L-R Executive Vice Chairman, NeGSt-TAS Technologies Ltd, Dr Felix Babatunde Obada; National Commissioner/CEO, Nigeria Data Protection Commission, Dr Vincent Olatunji; and MD, NeGSt-TAS Technologies Ltd Dr Adewale Owolo at an event to honour the new Minister of Interior, Hon. Bunmi Tunji-Ojo... recently

IFC Invites Female Entrepreneurs to Apply for 5,000 Startups Programme in Africa $500m commitment in BUA swells 2023 investments in Africa to $11.5bn Ndubuisi Francis in Abuja The International Finance Corporation (IFC), the private sector arm of the World Bank, has opened applications for its 'She Wins Africa' programme, which aims to support the growth of up to 5,000 women-led startups with advice, training, mentorship, and networking opportunities.

'She Wins Africa', part of IFC’s

wider strategy to support women entrepreneurs, is open to women-led startups and entrepreneurs operating in Sub-Saharan Africa.

The programme would initially support a group of women-led African startups across various sectors. It includes a pitch competition for participants and networking opportunities with investors and venture capital firms.

IFC’s regional Director for Eastern Africa, Mary Porter Peschka, said: “African women are highly entrepreneurial yet often lack the support and funding they need to succeed. She Wins Africa aims to rectify this by equipping women with skills, tools, and opportunities to scale their businesses.

“IFC is excited to welcome innovative women entrepreneurs to

the She Wins Africa programme and help them grow their businesses and reach new heights.”

Applications are open until September 15.

Meanwhile, in a groundbreaking move to bolster Africa’s sustainable development, the IFC has injected a historic sum of $11.5 billion into the continent during the fiscal year 2023.

The package includes a $500

NGX Index Hits 15-year High as Nigeria’s Stock Market Soars Nigerian stocks posted record gains yesterday with the All-Share Index(ASI), that measures the overall performance of equities, rising 0.51 per cent to close at 66,490.34, which is its highest level ever.

The index growth, which is 15-year high, surpassed the highest value of 66,371.20 recorded on the Exchange on March 5, 2008.

This performance was in part, attributed to a surge in banking stocks as investors strategically positioned themselves, taking advantage of the recent record earnings posted by banks. Consequently, market capitalisation increased by 0.51 per cent to close at N39.69 trillion from N36.21 trillion recorded on Monday.

This indicated that investors gained N510 billion in two trading sessions. Among the various sectoral indices, the NGX Banking Index experienced the most significant daily gain, rising by 1.63 per cent.

Following closely were the NGX Consumer Goods Index, with a 0.99 per cent increase, and the NGX Industrial Index, which saw a 0.21 per cent uptick.

Conversely, the NGX Oil/Gas Index dipped by 0.09 per cent, and the NGX Insurance Index recorded a substantial decline of 1.56 per cent, both attributable to investors reallocating their funds.

An analysis of yesterday’s market activities revealed a substantial increase in trade turnover compared to the previous session, with transaction values surging by an impressive 79.18 per cent.

Consequently, the total volume of stocks traded reached 436.95 million units, valued at N7.02 billion, across

7,933 deals. This marked a significant uptick from the 311.12 million units valued at N3.92 billion traded in 7,193 deals on Monday.

FBN Holdings topped the activity chart with 55.15 million units valued at N911.21 million. Following closely was Japaul Gold with the sale of 33.11 million units worth N29.92 million, while UBA transacted 30.17 million units valued at N41.21 million.

Market breadth closed positive,

with 35 stocks appreciating in value while 32 stocks depreciated.

Champion Breweries led the pack of gainers with a remarkable 10 per cent increase in stock value. Conversely, Linkage Assurance led the group of 32 declining securities, with a 10 per cent decrease in stock value.

Reacting to the performance of the market, market experts attributed this strong performance to a combination of factors, including investor sentiment influenced by

macroeconomic developments such as the formation and swearing-in of the economic cabinet by President Bola Tinubu.

Additionally, movements in yields within the fixed income market played a role in shaping market dynamics. They emphasised the importance of strategically positioning investments in fundamentally strong stocks, given the ongoing challenges posed by the weak macroeconomic environment on corporate earnings.

million investment in BUA Cement in Northern Nigeria to promote eco-friendly, low-carbon cement manufacturing.

This $11.5 billion investment aims to expedite Africa’s transition towards clean energy, foster eco-friendly manufacturing practices, enhance intra-African trade, fortify small-scale enterprises, and elevate local food production, even in regions grappling with fragility and conflict.

The IFC’s commitment materialised as an extraordinary feat, spanning 40 countries between July 1, 2022, and June 30, 2023. This marked the single largest annual investment drive ever witnessed on the African continent.

The huge financial support encompasses several critical sectors, including $1.12 billion designated for trade financing, $876 million to propel Africa’s green energy transition, and $1.98 billion to bolster the growth of small businesses, ultimately spurring job creation.

The IFC also allocated $1.76 billion to boost digital connectivity, with strategic investments in telecom towers, broadband expansion, and the proliferation of mobile internet access.

Of the $11.5 billion commitment, a substantial $3.5 billion was dedicated

to short-term financing, while an additional $3.1 billion was mobilised.

About 40 per cent of IFC’s in-house financing directly confronted the pressing issue of climate change, while 48 per cent was channeled towards the benefit of low-income nations and those afflicted by fragility and conflict.

Commenting, the Vice President for Africa at IFC, Sérgio Pimenta emphasised the organisation’s unwavering commitment.

He said, “At difficult times like these, when the shockwaves of multiple crises are shaking economies worldwide, we are stepping up our work to support a resilient, inclusive, and greener private sector that is helping provide infrastructure and digital solutions while also tackling food security and climate change.

"Catalysing increased private sector innovation and financing for addressing climate change, bridging gender gaps, and empowering the next generation of startup leaders has been at the forefront of our work this past year and will continue to drive our engagements as we work with partners to create jobs and opportunities for more people.”

Continues online

Wike: FCTA Will Complete Abandoned Millennium Tower in 24 Months FCTA to pay N825m as compensation, resettlement for second Abuja airport runway Olawale Ajimotokan in Abuja Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said the iconic Millennium Tower, which has been abandoned due to paucity of funds would be completed in the next two years.

He disclosed this after a closeddoor meeting with contractors handling different projects in the FCT. The Millennium Tower that straddles the Central Business District in Abuja is a tourist site designed to showcase the country’s unity and strength and provide study and relaxation.

Last year, the federal government said that $400 million would be required to complete the 170 metres high tower, which construction was started in 2005, by Salini Construction Nigeria Limited but has been abandoned due to lack of funds.

Wike described the Millennium Tower project as a very important project that would change the landscape of Abuja.

“It is a very, very ambitious project, but again if we are talking of Abuja being one of the best cities in the world, then we must have such a facility.

“I can tell you it is not easy to go into that project, but we have decided that whatever it takes, it is going to be one of the legacy projects for President Bola Tinubu.

“In fact, we are looking at the next two years, if the way we are going to structure our payment is agreeable with the contractor,” Wike said.

The project had reached 40 per cent completion and was expected to upon completion, self-finance itself from revenue generated from all the commercial activities in the complex.

The project, which dominates the National Square has space for 1,100 cars and houses the National Museum at various levels, the National Theatre as well as a five-star model hotel with 55 luxury rooms and nine suites for about 130 persons.

Its expansive arcade which consists of a 40,000 square metres platform was designed to host national and other events.

In addition, it boosts of offices, passive and active recreational facilities, 1200 capacity auditorium and conference rooms.

Others are exhibition halls, shops, a sport centre with an indoor pool, gyms, fitness, squash courts and a two-level 1,200 capacity basement car park.

The key feature of the structure designed like a flower surrounded by transparent wings is a revolving panoramic restaurant for more than

130 diners.

Wike noted that a careful analysis of all the awarded contracts with the contractors and his team revealed that most of the projects were abandoned for lack of funds.

“The Minister of State, myself, the permanent secretary, and directors have concluded that it is not possible to carry on with the entire projects in the FCT. “Therefore, we agreed to take them in order of priority. We have tried to work out most of the projects being handled by Julius Berger and agreed to see that these projects are fully completed,” he said.

He also disclosed that the Villa Roundabout being handled by China Geo-engineering Corporation (CGC) Nigeria Limited, would be completed in the next six to eight months, while the FCTA would also put a facelift on Garki, Wuse and part of Maitama

in the next one week.

He said contractors would be mobilised immediately, adding that Asokoro would equally have a facelift in no distant time.

On the Abuja light rail rehabilitation project, the minister said an agreement had been concluded with CCECC Nigeria Limited to give them their money in the next two days so they could go to work.

Wike pointed out that part of the problems of the projects was because they were not being funded by the national budget.

Meanwhile, Wike yesterday, said N825, 819,000 would be paid as compensation and resettlement to the Jiwa community affected by the proposed construction of the second Nnamdi Azikiwe International Airport, Abuja runway.

Continues online

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Report: Nigeria’s FX Import Cover Now 5.2 Months, Higher Than Ghana, S’Africa, Others Dike Onwuamaeze A report by the Vetiva Research has shown that Nigeria’s foreign reserves could provide 5.2 months import cover, which placed the country in more comfortable position than Ghana, Kenya, South Africa and Angola that have 2.5, 4.0, 4.9 and 4.4 months import covers respectively.

The report, which was obtained

by THISDAY yesterday, stated that: “Beginning with the import cover indicator, all our coverage economies have reserves above the rule of thumb (3 months) except Ghana.

“After adjusting Nigeria’s reserves for short-term foreign currency drains, import cover fell from about 7.9 months to 5.2 months.

Unsurprisingly, Ghana’s import cover falls short of the required levels, following the capital flight of 2022.”

The report also assessed the capacity of the countries to withstand

capital flight from the currency by residents, which showed, “that Angola is the most equipped to handle a scenario where domestic residents initiate capital flight, while South Africa emerges as the least prepared in this regard.”

It also assessed the capacity of reserves to cover short-term external debt and observed that Nigeria is in a better position than the other countries.

It said: “Nigeria and South Africa excel in this assessment, even though there have been net reserve adjustments in the case of Nigeria.

“Notably, Nigeria has successfully repaid its $500 million Eurobond and does not face any external debt maturities in 2024.

“Furthermore, Nigeria's reserves are fully sufficient to cover its current account, which is in a surplus position. Consequently, the debt-reserve metric for Nigeria is deemed adequate. South Africa equally has enough reserves to

cover its short-term external debt.”

The report added that Nigeria’s net reserve stock was at most c.$22 billion in 2022.

The Vetiva Research noted that upon the publication of the audited financial statements of the Central Bank of Nigeria (CBN), “we undertook the computation of Net International Reserves (2022) following the specific guidelines outlined in the IMF's Assessment of Reserve Adequacy (ARA) Guidance Note Definition.

This process essentially entails subtracting short-term foreign currency liabilities and off-balance sheet items from the total gross reserve position.

“Utilising the conversion rate of N461.50/$ (as stated in the financials), we arrived at a Net International Reserve Position of approximately $22.2 billion.”

It also applied the accrual principle of accounting and the IMF guidelines, and made deductions pertaining to portions of security

lending agreements with JP Morgan and Goldman Sachs.

The Vetiva Research stated: “The recorded value of the entire security lending arrangement stood at $15 billion. However, only 37 per cent of this amount is slated for payment within the upcoming year, equating to $5.5 billion.

“We extended the same methodology to foreign currency forwards. Moreover, we excluded foreign currency deposits belonging to non-governmental customers from our calculations, in line with the ARA guidelines.

“A noteworthy concern arises in relation to the undisclosed breakdown and maturity profile of OTC future contracts and swaps outlined in the financial statements.

While OTC future contracts are naira-settled, the maturity profile of swap arrangements is needed to make the necessary deductions.

“Transitioning further, our assessment concludes that Nigeria's net external reserves amount to at

most $22.2 billion. This net reserve stock translates to an import cover period of 5.2 months, surpassing the minimum requirement of 3.0 months.”

The report also commented on the Nigerian National Petroleum Company Limited’s secured a $3 billion Emergency Crude Repayment Loan from the African Export-Import (AFREXIM) bank that was meant to shore up the Naira, and concluded that “from a fiscal standpoint, the prepayment of taxes and royalties to the Nigerian government is a cheaper cost of financing the budget.”

It, however, noted that, “caution has to be applied as monetary policy remains the adequate measure of short-term interventions in the foreign exchange market.”

The report further warned that this might not appear feasible over the short to medium term, without a meteoric rise in crude production.

It added that, “this may not be feasible without proper sterilisa-

tion by the monetary authorities through Open Market Operations or Nigerian Treasury Bills. Thus, we believe these funds could raise money supply further, deteriorate Nigeria’s broad money-to-reserve ratio, and create room for further demand pressure in the foreign exchange market.”

It also pointed out that the reintroduction of BDCs could do little to change the Naira’s fortunes in the FX market.

It stated: “While we acknowledge these measures, we believe the underlying low FX supply could keep the FX gap elevated. Thus, measures to boost crude supplies and organically grow the external reserve stock are required.

“Going into the ember months, we retain our bearish outlook on the Naira till oil production recovers significantly. However, increased interventions (though unsustainable) could reduce the pace of depreciation at the parallel market.”

to facilitate the direct receipt of cargo in Enugu as opposed to the current practice of shipping into Lagos airport and then undertaking the arduous and expensive overland journey to the South-east by truck.

The terminal will also facilitate the export of agro-produce direct from Enugu.”

He also listed the planned development of light rail in collaboration with other South-east governments and development of modern logistics centres at key cross-roads like Obollo Afor and Ninth Mile Corner as other investment opportunities.

The governor also emphasised opportunities in tourism where the state government has taken the lead with the refurbishing and reactivating the prestigious Presidential Hotel, Enugu and completing the International Conference Centre adding that his administration is opening up the real estate sector by, “developing a New Town, which would offer

60,000 household living spaces.”

He explained that his administration was working with the federal government to attract investors for the production of natural gas and crude oil as well as abundant solid minerals such as ironstone, zinc, lead, limestone, kaolin.

He further listed investment opportunities in ICT, which he said remained a priority to the government.

In his welcome address, the President of LCCI, Dr. Michael Olawale-Cole, said that this conference would provide an excellent opportunity to discuss the Nigerian economy and identify investment opportunities.

Mbah to Unveil $2.1bn Project Pipeline as Enugu Holds Inaugural Investment Roundtable Meanwhile, Mbah would this Friday, unveil a N1.6 trillion ($2.1 billion) pipeline of 30 projects at the first Enugu State Investment

LAGOS, ENUGU GOVS JOSTLE FOR INVESTORS AT LCCI’S INVEST NIGERIA EXPO 2023 Investment (FMITI) and the Federal Ministry of Foreign Affairs (FMFA).

The conference was graced by the Ambassador of Peoples Republic of China in Nigeria, Mr. Gui Jian Chun; High Commissioner of India in Nigeria, Mr. G. Balasubramamam; Ambassador of Mexico in Nigeria, Mr. Alfredo Miranda; Ambassador of the Republic of Indonesia in Nigeria, Dr. H. Usra Hendra Harahap and Ambassador of Burkina Faso in Nigeria, Mr. Passida Pascal Gouba.

Sanwo-Olu, said the conference was an opportunity to showcase Lagos State, “as the preferred destination for investment and bustling hub of opportunities for both local and foreign investors,” Mbah enticed investors with improved ease of doing business in Enugu State that included getting Certificate of Occupancy within 72 hours and de-risked investment environment in the state’s tourism, real estate, untapped mineral resources, ICT, agriculture, logistics and aviation sectors.

Sanwo-Olu, who was represented by the Deputy Chief of Staff to the Governor of Lagos State, Mr. Gboyega Soyannwo, said: “We recognise that a vibrant investment landscape is essential for sustainable development and it is our pledge to continue to create an environment that fosters innovation, productivity and sustainable growth.

“In our pursuit of promoting a conducive environment for thriving investments, Lagos State offers compelling incentives to both foreign and local investors.

“We believe in rewarding those who believe in our vision, and as such, we have remained strong in our commitment to implementing business friendly policies, providing incentives and streamlined regulatory processes that promotes ease of doing business in the state.

“These incentives are a testament to our dedication to fostering a

mutually beneficial partnership that stimulates economic advancement and job creation.

“Our commitment to progress is further encapsulated in the implementation of our THEMES+agenda; an acronym for Traffic and Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism, and Security and Governance,” adding that “the ‘+’ signifies a renewed focus on social inclusion, gender equality and youth development, with a ‘no one left behind’ philosophy, which is the thrust of our agenda in this second term.”

He also intimated the business audience that the state’s “aspirations extend far beyond short-term objectives. We are guided by the Lagos State 30-year Development Plan, a blueprint that envisions a Lagos that is sustainable, livable and globally competitive.

“With this plan as our compass, and which was developed with in partnership with the organised private sector at the last Ehingbeti Economic Summit, we are making strategic investments in infrastructure, energy and urban development and renewal to ensure that the prosperity we build today endures for generations to come.”

In his remarks, Mbah, wooed Nigerian and international investors to either partner with the state government or invest directly in business opportunities that abound in the state with promise of considerable economic returns.

Mbah, identified tourism, real estate, untapped mineral resources, ICT, logistics and aviation, as well as agriculture as among the teeming investment opportunities in the Enugu State.

He added that he would formerly trigger the state government’s engagements with the private investors with the inaugural, “Investors

Roundtable on September 1, 2023, in Enugu to unveil a $2.1billion project pipeline to local and international investors.

The governor recalled the discovery of coal in Enugu in 1909 and said that his administration is building partnership with the private sector to unlock the capital market, attract investments and retake the state’s place in the local and global economy.

He said: “Enugu is now open for business. We are markedly revisiting our ‘ease of doing business’ indicators to ensure the environment is conducive for business. For example, our new land title processes will facilitate the issuance of Certificate of Occupancy in not more than three days or 72 hours.

“Processes for the procurement of building approvals will also be revisited and markedly reduced to achieve improved efficiency.

“We are automating all our major government processes to ensure transparency in all aspects of engagement with government and facilitate self-service by the public with little or no need for physical engagement with public servants.

“We are also willing to de-risk business investment in key sectors by providing access to land, providing support infrastructure, handling engagement with host communities, among others.”

Speaking on investment opportunities in agriculture and agro-industry, Mbah said the state was positioning itself to take advantage of its, “proven strong factor productivity in the areas of some key segments of agriculture by opening up another 300,000 hectres of farmland for cultivation of focus crops and animal production,” adding that focused crops and animal production opportunities in the state included cassava, soyabean, oil palm production, cashew, and Nsukka pepper.

He said his administration

MY SUCCESS DEPENDS ON YOUR SUPPORT, PRAYERS, FAGBEMI TELLS CLASS OF 85 ber of the class to be conferred with the rank of Senior Advocate of Nigeria (SAN) in 1996, 11 years after his call to the Bar. The AGF, who was one of the awardees, told his colleagues that they had a lot of work to do in the war against corruption, reform of legal education, and in administration of justice, generally.

He said, “On my new appointment, I want to solicit your support, prayers and advice in ensuring that we succeed in the task ahead. The tasks are by no means easy."

Fagbemi assured his former classmates that as an ambassador in the Tinubu administration, he would not let the class or the nation down.

He disclosed plans for the Nigerian Law School, and acknowledged the feat being

recorded by the class in the judiciary and other endeavours, saying they are worth celebrating.

Fagbemi stated, “I can see that quite a few of them are heads of different courts in Nigeria. I believe the honour is well deserving as a testimonial that the awardees are worthy ambassadors of this class.

“I happily rejoice with all the awardees and urge them to keep up their good works that had earned them this honour.”

On the ongoing project of the group, establishment of a medical centre at Lagos Campus of the Nigerian Law School, Fagbemi said in spite of the challenges in the take-off of the project, it must go on.

He said all hands must be on deck towards the execution and delivery of the project, stressing,

“I will continue to do my utmost best in assisting toward the early completion of that project.”

Life Chairman of the association, Emeka Ngige (SAN), said members had fared reasonably well.

Ngige stated, “We have celebrated numerous appointments, elevations and other achievements by members of this great class. I am happy to note that within the year under review, four of our class members were appointed as heads of courts in Ondo, Oyo, Benue and Kaduna states.

“We also witnessed the appointment of one us as Secretary to the Government of Lagos State. The climax is now the appointment of our leader, Prince Fagbemi, as Nigeria’s 24th Attorney-General of the Federation and Minister of Justice.”

would revive plantation cultivation of crops that are, “veritable export commodities with large and growing global market size projected to reach about $7 billion by 2025.”

He added that investment opportunities in poultry, piggery, and fishery were large, while Enugu’s geographical position as the gateway to the north made it attractive for agro-processing investments.

Mbah, noted that investments in logistics and aviation would be quite lucrative in Enugu State as survey has shown that about 40 per cent of the air cargo imported via Lagos was actually destined for the South-east and South-south.

He said: “In the area of logistics and aviation, we are investing extensively in our logistics and aviation sector to make transit through and to Enugu efficient and seamless.

“To achieve this, we are prioritising development of a cargo terminal for the Enugu International Airport

Continued on page 36

NNPP’S CRISIS DEEPENS, KWANKWASO SUSPENDED, FOUNDER EXPELLED a view to causing disaffection. It also upheld motions to extend the tenure of the acting National Chairman, Mallam Abah-Kawu Ali, and to redesign the party's logo.

It stated, "At the National Executive Committee meeting of the NNPP held in Abuja today, August 29th, 2023, Dr Boniface Aniebonam, Agbo Major, and several others were expelled from the party.

"The NEC also moved several other motions relating to the logo of the party, the amendment of the constitution, ratification of the state caretaker committees, and suspension of two articles in the constitution of the NNPP 2022.

“At the meeting were the Executive Governor of Kano State, the National Chairman, Distinguished Senator Kawu Ismaila, Speaker of the Kano State House of Assembly, Buba Galadima, and many others. NEC noted that there were suspended (now expelled) persons who purportedly held a Board of Trustees meeting in Apapa, Lagos, this morning."

The party's only governor, Abba Yusuf of Kano State, said he would continue to work closely with Kwankwaso in his effort to reposition NNPP. Addressing the NEC, the national secretary of the party loyal to Kwankwaso, Olayoku Dipo, said NNPP was in the process of setting up a properly constituted BoT in line with its constitution. Dipo also alleged that NNPP's logo affected its fortunes at the February election, but it commended the NWC for

its role in stabilising the party.

Kwankwaso’s suspension was, reportedly, put to a voice vote by members at a special general assembly in Lagos, which also appointed new national officers headed by Major as acting National Chairman, and Comrade Ogini Olaposi as acting National Secretary, alongside about 18 others.

Speaking to newsmen at the end of the meeting in Lagos, yesterday, Abdullahi accused Kwankwaso of meeting secretly with President Bola Tinubu, the Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, and the presidential candidate of Labour Party (LP), Mr. Peter Obi, without the BoT’s authorisation.

He announced that Kwankwaso had been stripped of the NNPP national leader status by the board, saying the purported suspension of the NNPP founder was a flagrant violation of the party’s constitution.

Abdullahi stated that Aniebonam had resigned as BoT chairman and a new BoT chairman, Tope Aluko, was elected, with himself (Abdullahi) as new BoT secretary, while High Chief Tony Obioha was elected BoT spokesperson.

Abdullahi said the pre-election Memorandum of Understanding (MoU) signed with the Kwankwasia Movement, The National Movement (TNM), and National Association of Government Approved Freight Forwarders (NAGAFF) had been rendered void by the actions of the NWC.

He stated, "The purported suspension of the founder is a flagrant gross violation of the NNPP constitution such that it is tantamount to recklessness and irresponsibility on the part of the incompetent NWC. “The BoT decided that material evidence in the public sector affirmed that Kwankwaso was involved in anti-party activities in various meetings, suggest political discussions with the president, Atiku, and Obi without authorisation from the board.

"This has earned him six months suspension pending the outcome of the investigation by the disciplinary committee.

The BOT insisted that (due to) the avoidable violation of MoU between NNPP, on the one part, and Kwankwasia, TNM and NAGAFF, on the other, (it) has no other choice than to withdraw from the partnership.

It is, therefore, (pertinent) to state clearly that the MOU has been rendered void."

The acting chairman, Major, who also spoke with newsmen, said his team would hit the ground running by healing the wounds created by the suspended NWC members.

Major said, "The party would remain the most ordinary friendly party in the country and we urge other members that are displaced for one reason or the other to return to its fold.

“We don't intend to shut anybody out or censor anybody, but we want to ensure that we remain on track and maintain our people oriented ideology."

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NBA 2023 ANNUAL CONFERENCE...

L-R: Senior Advocate of Nigeria (SAN), Olawale Fapounda; President, Nigerian Bar Associatio, (NBA), Yakubu Maikyau and Former FCT Chief Justice, Isiaku Bello, during the 2023 NBA annual conference PHOTO: ENOCK REUBEN in Abuja ... yesterday

Obaseki: Seven Million Documents Archived as Edo Transits to Paperless Govt Sept. 1 Edo State Governor, Mr. Godwin Obaseki, has said his administration has embraced technology through the e-Governance system leading to the archiving of seven million government documents in readiness to transit into paperless government operation from September 1, 2023.

Speaking to members of the Edo State House of Assembly (EDHA) led by the Speaker, Rt. Hon. Blessing Agbebaku,

Obaseki said the Executive arm of government was concluding its digitalisation processes, requesting the legislative arm to follow suit.

According to a statement, the governor said the new regime would ensure accountability, transparency, effectiveness, efficiency and quick service delivery to Edo people.

According to him, “In the area of digitisation, one of the

conversations we will be having with you in a few weeks’ time is to ask what the legislative arm of this administration is doing in terms of digitising the legislature?

The Executive arm is concluding the digitisation process already.

“As of today, we have scanned, archived and digitalised over seven million government records and from September 1, we are cutting off and transitioning into a

paperless government.”

The governor said prior to his assumption of office, the work environment was hazardous, noting that the exit door in case of fire at the state secretariat building was filled with files.

He noted that his visit to the Secretariat Building on November 14, 2016, enabled him to arrive at a sense of direction on the need for paperless government.

“Today, the Edo State Civil/ Public Service is the most digitised in Nigeria with over 5,000 computers and fibre optics connections across government offices. By September 1 this year, like I said earlier, Edo State would go completely paperless, which will make us the first State to achieve this feat. I would be the last governor to work on physical files in Edo State.”

Speaking on the September 1 cut-off date, the Edo State Head of Service, Anthony Okungbowa Esq., said Obaseki made the State the most e-Governance compliant in the country.

“As I speak to you right now, no State in Nigeria is ranked close to us in terms of technology adoption in running government and delivering effective and efficient services to the people.”

Tinubu Names Chiedu Cervical Cancer: HPV Vaccine for Girls Will Ebie Chairman of New 17-man Board for NDDC Avert 71,000 Deaths Annually, WHO Declares Ogbuku remains MD President FG to roll out vaccines September 25 expects new board to ensure successful administration in the commission

Deji Elumoye in Abuja

President Bola Tinubu has approved the appointment of a new 17-man Board and management team for the Niger Delta Development Commission (NDDC).

The new appointees whose appointments were with immediate effect, according to a statement issued by presidential spokesperson, Ajuri Ngelale, included Mr. Chiedu Ebie, from Delta state as Chairman and Dr. Samuel Ogbuku as Managing Director / CEO (Bayelsa).

Others include Mr. Boma Iyaye - Executive Director (Finance and Admin) (Rivers); Mr. Victor Antai - Executive Director (Projects) (Akwa-Ibom); Ifedayo Abegunde - Executive Director (Corporate Services) (Ondo); Senator Dimaro Denyanbofa - Representative - Bayelsa; Mr. Abasi Ndikan

Nkono - Representative - Akwa Ibom; Hon. Monday Igbuya Representative - Delta; Chief Tony Okocha - Representative - Rivers and Hon Patrick Aisowieren - Representative - Edo. Others are Mr. Kyrian Uchegbu - Representative - Imo; Victor Kolade Akinjo - Representative - Ondo; Chief Dimgba Eruba - Representative - Abia; Mr. Asu Oku Okang - Representative - Cross River; Hon. Nick Wende - Zonal Representative - North Central; Hon. Namdas Abdulrazak - Zonal Representative - North East and Dr. Ibrahim Abdullahi Gobir - Zonal Representative - North West The president, the release stated, expected that the new Board and Management team would ensure a new era of successful administration in the NDDC, in line with his Renewed Hope agenda.

Onyebuchi Ezigbo in Abuja and Segun Awofadeji in Bauchi Nigeria's Human Papilloma Virus (HPV) vaccine introduction for girls from the ages of 9-14 years would potentially avert 71,000 deaths annually if target coverages are reached, the World Health Organisation (WHO) has said WHO Technical Officer, Bauchi State, Dr. Mustapha Umar, stated this during a recent one-day media engagement, organised

by USAID-IHP in collaboration with Journalists for Public Health Development and Initiative(J4DP), held in Bauchi.

Presenting a paper titled, ‘Update/Preparedness on HPVV Introduction,’ Umar said cervical cancer was a type of cancer that develops in a woman’s cervix, stressing that it was the fourth most common cancer among women worldwide.

According to him, "Experts stated

in 2018 alone, it caused an estimated 311,000 deaths worldwide. Majority of these cases were reported in low- and middle-income countries where approximately 84 per cent of global cases and nearly 90 per cent of deaths from the disease occur.

"A research by The Lancet reveals that more than 44 million women globally, stand to develop cervical cancer between 2020 and 2069.It also warned that deaths from cervical cancer will increase a further 50 per cent by 2040, and that many women, their families and communities will be impacted if desirable action is not taken.

"According to WHO, HPV types 16 and 18 cause at least 70 per cent of cervical cancers and pre-cancerous cervical lesions.There is also evidence linking HPV with cancers of the anus, vulva, vagina, penis, and oropharynx," he added.

The WHO Technical Officer explained that, “What HPV does is that it invades the cells of the

cervix when infected through either anal, oral or vaginal sex.

“So once that happens, it goes to the cells and causes what we call continuous DNA replications.”

He said some of the warning signs of cervical cancer included blood spots or light bleeding between or following periods, menstrual bleeding that is longer and heavier than usual, bleeding after intercourse, douching or a pelvic examination, Increased vaginal discharge, pain during sexual intercourse and bleeding after menopause.”

Meanwhile, the federal government has said it plans to introduce the lifesaving HPV vaccines to protect teenage girls against cervical cancer and other related diseases.

The Executive Director of the National Primary Health Care Development Agency (NPHCDA), Faisal Shuaib, disclosed this during the bi-annual review meeting of religious leaders on PHC Delivery

Report: Lagos Ranked Fifth Best African City to Live, Work Lagos has emerged as the fifth best African city with high desirability by people to live, work, and invest, according to a report by Brand Finance City Index 2023.

The survey puts Lagos at 56.7per cent behind Cape Town (South Africa), Cairo (Egypt), Johannesburg (South Africa), and Casablanca (Morocco) as the first four best African cities with 62.9, 60.7, 59.7, and 59.3 per cents respectively.

Nairobi, the capital of Kenya, also made the chart by coming behind Nigeria, as the sixth African city with 55.1 per cent.

Cape Town, Cairo, Johannesburg,

Casablanca, Lagos and Nairobi were the only six African countries that appeared on the 100 world’s best cities as numbers 60, 67, 72, 76, 90, and 94 respectively on global rankings.

Meanwhile, London (England) was crowned as the world’s best city brand in the ranking as it scored 84.6 per cent, while New York (the United States) and Paris (France) come in as second and third garnering 83 and 79.7 per cents respectively.

“The ranking is based on a global survey of close to 15,000 members of the public conducted in April 2023

in 20 countries on all continents to measure perceptions of the world’s top 100 cities,” the report reveals.

Speaking on the survey, the Chairman and CEO of Brand Finance, David Haigh said, “London’s exceptional performance in the Index can be attributed to its global familiarity.

“Coming first on this particular measure, London has a huge advantage over its peers, leading to its success in the ranking overall as the world’s best city.

“Knowing a city allows the public to form positive perceptions about it – to recognise its reputation and

to consider it as the preferred place to live, work, study, retire, visit, or invest.

“High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, and invest.

“High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, investment, and tourism.”

However, Zurich (Switzerland) was the 17th on the global table

with 72.0 percent, but the report stated that it was the best city in the world for investment alongside other factors to live and work.

The report stated, “Zurich is a highly desirable destination to work locally, work remotely, invest, and retire, claiming the top spot for each dimension.

“The city scores exceptionally well on reputation (4th) and consideration (1st) when considering all seven dimensions combined too, but a low score on familiarity (53rd) prevents it from taking a higher spot in the overall Brand Finance City Index ranking (17th),” it adds.

in Abuja, yesterday.

Shuaib said the agency would begin the rollout of the HPV vaccines on September 25 for girls between the ages of 9 and 15.

“This cervical cancer affecting our mothers, sisters and daughters is caused by HPV,” he said.

“On 25 September this year, we will be introducing the HPV vaccine that prevents cervical cancer when given to our daughters between 9 and 15 years.”

Speaking at the event, the Minister of Health and Social Welfare, Muhammad Pate, said there was need to constantly blend the spiritual with scientific knowledge and skills to address the country’s health challenges.

Pate, who was represented by his Senior Special Adviser, Emmanuel Odu, said the religious leaders could help create awareness among their congregation regarding the free HPV vaccines and also dispel myths and misconceptions about the vaccine.

He said the leaders could also encourage members to embrace better health-seeking behaviours.

“I acknowledge the contributions of our faith community to healthcare delivery in the country, as we are aware that some of our religious organisations provide healthcare services at the primary, secondary and even tertiary healthcare level,” he added.

“This is most commendable, as I urge you to keep it up, as the government alone cannot do.”

Pate said the current administration would change the narrative by making health care affordable and accessible to all Nigerians.

“We will, therefore, need the support of the faith community as we roll out the government’s agenda for the health of our people,” he said.

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POLITICS

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

Farewell to Democracy in Nigeria Mon-Charles Egbo canvasses for symbiotic relationship between the executive and legislative arms of government for democracy to survive in the country.

Tinubu

Akpabio

W

to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers”.

However, in building this essential foundation for a liberal democratic society, those humanists and visionaries innocently left this freedom borderless.

Understandably, in their broadmindedness, they did not envisage the likelihood of abuse or the eventual advent of the internet as well as the inherent dangers of social media.

The consequences of this harmless oversight would later become overwhelming. The freedom was rather being deployed to the detriment of national unity and development.

This prompted a review and subsequent caveat in 1952, which notes that “the exercise of this freedom, since it carries with it duties and responsibilities, may be subject to such formalities, conditions, restrictions or penalties, as are prescribed by law and are necessary in a democratic society, (among others) for the protection of the reputation or rights of others”.

This necessitated the laws prohibiting defamation, sedition, obscenity, and incitement to violence or crimes as domesticated by countries including Nigeria. But despite this intervention aimed at limiting the scope of this civil right, the issues are still far from being

hile Nigeria is championing the concerted efforts at restoring democracy in the Niger Republic, democracy is dying off in Nigeria.

Ironically, it is not the military, being the conventional enemy of democracy, that is culpable, but the people whom democracy is meant to protect are killing democracy.

Put succinctly, democracy is killing democracy in Nigeria.

And instructively as well, the weapon for this self-destruction is as potent as it is delicate.

By its ideal value, this instrument is a shield for democracy. It is the principal offering of democracy which incidentally distinguishes democracy as the best form of governance.

It is a key principle both in constitutional and international human rights laws. In short, this tool is the bedrock of democracy. Yet, it has turned out to be the albatross and the existential threat to democracy in Nigeria.

When the founding fathers of constitutional democracy, notably John Milton, conceived the freedom of expression as a fundamental right of everyone, they had envisioned an enlightened society where law and order reign supreme, where individuals would not be prevented from speaking and acting according to their respective convictions; and also, where citizens are at liberty to condemn and even protest against bad leadership or governance including injustice of any kind.

For emphasis, Article 19 of the Universal Declaration of Human Rights as proclaimed by the United Nations General Assembly in December 1948, reads “everyone has the right

Abass effectively addressed.

Today in Nigeria, this hallmark of democracy is being mindlessly weaponized to stifle the very essence of democracy. The legislature is gasping for breath in the hands of the very people to whom it is meant to offer fresh air.

And it is more perplexing to see that it is the same constitution that guards this cornerstone of democracy that still guides its misapplication, more sadly, through social media.

For instance, spurious allegations against individuals and institutions, including subjective criticisms and sundry demeaning public remarks respectively enjoy the implied protections of the freedom of expression in Nigeria.

Meanwhile, in prosecuting this onslaught against democracy under the cloak of exercising this right to freedom of expression, the people, particularly the elites, who are versed in the workings of democracy, feign ignorance of some fundamental facts about governance.

They seemingly forget that while democracy is about the people, it is the legislature that delivers the dividends of democracy to the people. Also, they pretend not to know that democracy and the legislature, like two sides of a coin, owe their existence to each other; meaning that one is dead without the other. And again, none remembers that an injury to the legislature is an injury to democracy, and by extension, an injury to Nigeria.

So once again, democracy is killing democracy in Nigeria. And certainly, the death is imminent.

It is no longer about if it will come but it is about when it will occur.

We brazenly ridicule our symbol of democracy and the conscience of the nation merely for political expediency. We allow our emotions

to overwhelm us in our criticisms. We forget that the disparaging remarks are not just about the legislators. It is about their families and constituencies. It is about the offices they occupy.

It is about the totality of these Nigerians who have sacrificed their privacies and liberties to serve us. It is about the legislature as an institution and bastion of democracy. It is about the sustainability of democracy. It is about our future and posterity.

What we say or write about the legislature is a reflection of what the world thinks about Nigeria as a country. Foreign investment opportunities are threatened. The zeal to serve and passion for patriotism in public office decline with attendant increases in poverty and corruption.

If only we could ponder the harm done to the image and reputation of Nigeria, how our flags and passports are viewed and how our nationals studying abroad feel among their peers, in the face of what exists on the internet about our legislature!

Whenever there is a manifestation of governance deficit, irrespective of the cause and source, the legislature is singled out for petty attacks. Every perceived anti-people policy is blamed on the legislature for not defending the people, at least, by engaging in hostilities with the executive. Even when natural disasters strike, the legislature is roundly vilified and accused of earning much and doing little.

-Egbo is a parliamentary affairs analyst NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Group Makes Case for Masari in Tinubu’s Govt A pressure group is canvassing for the inclusion of the former governor of Katsina state, Hon Aminu Masari, in the Renewed Hope Agenda of President Bola Tinubu.

T

he 4th Tribe Global Movement has frowned at the exclusion of immediate past Governor of Katsina state, Hon Aminu Masari, in the President Bola Tinubu’s administration.

The South-West based political group alleged that powers that be in the Tinubu-led government, schemed out Masari in spite of his unflinching loyalty, investment and contribution to the emergence of the administration in the last elections.

In a press release issued by the Convener and leader of the group, Abayomi Mighty, he contended that Masari was one of the Northern governors who spearheaded rotational presidency, power shift to the South and the choice of Tinubu as presidential candidate.

According to him: “It is on record that Masari was one of the few governors in the North who initiated and supported the rotation of the presidency to the South and the emergence of Tinubu in particular.

“He also led the way by talking to his northern colleagues to support Asiwaju’s candidacy. He effectively weakened the opposition in Katsina state by his good governance”.

Mighty described Masari as an “unrepentant supporter of Tinubu” who used his political acu-

Masari men and influence in turning Katsina into stronghold for the All Progressive Congress (APC) He noted that Katsina state’s contribution to the Tinubu presidency cannot be overemphasized saying despite the security challenges and the naira scarcity that created apathy during the voting exercise, the APC in Katsina State, came out for the 2023 elections with an

impressive performance with only a marginal loss.

“In the presidential results, data made available

by INEC showed that the APC scored 482,283 votes as against the Peoples Democratic Party with 489,045 votes.

“APC lost Katsina state in the presidential race due to anti-party activities, but Masari was not deterred as he led the party to an impressive victory in the National Assembly elections winning three senatorial seats and nine out of 15 House of Representatives seats for APC. “As a grassroots politician, he used his influence and relevance to mobilise massive support to win the gubernatorial election for the current sitting governor of Katsina state,” he said.

Mighty stressed that with Masari’s contributions to the victory of Tinubu in the elections, he deserved the right of first refusal in the ongoing horse-trading for political appointments.

He, however, alleged that some detractors used a purported Masari’s less presence at the national campaigns across the country to advance their nefarious cause during the ministerial nominations.

According to him, the detractors drummed the beats of calumny and went further by ensuring that out of the two ministers from Katsina state,

none has the input of Masari.

Mighty who described Tinubu as “a successful democrat, who truly rewards loyalty and recognises capacity”, alleged that some of the decisions made so far, were by some influential people without the President’s final approval.

He said that apart from Masari, other loyalists of the President were already distraught by some actions of these people negating the well thought-out plans that will deliver the renewed hope agenda for Nigerians.

According to him: “The Tinubu administration should be meticulous in identifying and rewarding stakeholders from Katsina State and other parts of the North West State on the basis of contributions and political values.

“If by any reason, Masari is completely schemed out by the cabals, then a lot of compatriots and party faithfuls that are already surprised at the way he’s being treated will see this as a betrayal which President Tinubu is not known for.

“Every variable should be put on the table to share rewards based on deliverables”.

Mighty, on behalf of the group called on President Tinubu to tread the path of meritocracy, equity and fairness on matters concerning the North and Katsina state, in particular.

WEDNESDAY AUGUST 30, 2023 • T H I S D AY

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Musk is taking measures to shore up revenue of the social media company, writes SONNY ARAGBA-AKPORE

OKELLO OCULI urges BRICS to tackle racial exclusion of millions of the African Diaspora

BRICS AND COUP IN NIGER President Lula of Brazil told BRICS leaders to focus on ending hunger and the ‘’DEBT VIOLENCE’’ which Dr Arikana Chihombori says carries out perpetual COUPS by seizing funds for health, education and food production for poor peoples in the ‘’Global South’’ countries.

President Cyril Ramaphosa recalled the meeting by African and Asian leaders at the 1955 conference in BANDUNG, in Indonesia, to manifest a community in solidarity for struggle against a shared colonial oppression, humiliation and expropriation of their natural resources by

Euro-America and Japan.

NATO’s Secret Service operatives were shocked to see China’s Foreign Minister, Chou-En-Lai, at Bandung. He had outwitted them and escaped assassination by not traveling in the airplane which they had shot down.

The BRICS meeting took place as a ‘’Science of Death’’ was burning the owner of the ‘’Wagner Mercenaries’’ in a plane crash in Russia. The enthusiasm with which Euro-American media grabbed the news suggested their cold fingers in the event.

France, Germany, Britain and the United States needed the death to stop Prigozhin’s arrival in Niamey. With ECOWAS waving hot fingers at military rulers in Niger, the loss of the Russian adventurer would panic them into folding their combative ears and fleeing to hide in the Sahara if Bazoum roars back into power.

Euro-America had lost the drama of seeing South Africa’s police crowding around President Putin to keep off hungry fingers of ‘’Boers’’ hired to spit fires of hatred against a ‘’Communist’’ who supported the African liberation fighters in Zimbabwe, Mozambique and South Africa.

Putin talked to television viewers via Zoom.

The loud chorus in the speculation that Putin plotted the air crash was a fallback by hounds wiping their tongues over their fangs. They are still angry that access to uranium and oil deposits in Niger is under threat of being grabbed by Russia.

As a side income, the focus on Putin diverted attention away from India’s triumph in space competition. India’s scientists had landed a research satellite on the southern area of the moon that has deposits of water. Prime Minister Modi followed the African proverb about a lizard

nodding its head in self-celebration on landing down from the top of a tall tree. If the Nobel Prize Committee controlled by the G7 cabal is not going to honour India’s scientists, BRICS was a good enough stage.

It was interesting that President Xi Jinping of China allowed himself a comradely silence about Prime Minister Modi’s boasting. A few days before the 15th BRICS meeting in South Africa, the media reported that Russia’s space scientists had lost control of a satellite sent to the moon. Nevertheless the effort left South Africa and Brazil as virgins of space science achievement by BRICS. The ‘’Global South’’ controls 46 per cent of oil in the market; 40 per cent of the world’s population (with Africa having 1.3 billion); and 25 per cent of the world’s Gross Domestic Product. China controls deposits of ‘’ Rare Earth’’; while Russia’s ownership of raw materials is a ‘’geological scandal’’.

These resources made Russia attractive as a potential colony of Germany under Hitler.

It is so attractive to NATO countries today.

BRICS leaders are angered by the fact that their raw materials have continued to feed industrialization in G7 countries; while they shut them out of key centres of global decision-making, notably: VETO-holding members of the UN Security Council; the World Bank and the International Monetary Fund. These institutions are run as tools for sustaining the wealth of the G7 economies by looting economies of the ‘’Global South’’.

The use of the American Dollar as a ‘’Reserve Currency’’ makes it easy for the American Government to seize money belonging to countries whose policies contradict its national interests. These insults, economic impunities and selfish individualism; contemptuous indifference to sufferings in societies that value shared welfare, have fuelled creative rage in BRICS. It is similar aspiration for shared welfare which has incited current military coups in Guinea, Mali, Burkina Faso and Niger.

The popular support they have earned challenges the legitimacy of ‘’democracy’’ dressed as defending corruption, and violence to protect rigged elections. It questions the legitimacy of sovereignty when foreign governments murder opposition politicians and patriotic leaders.

Prime Minister Modi read out a litany of African countries hosting Indian companies. He did not refer to the Indian Diaspora in Eastern and Southern Africa.

He did not mention the paradox of India’s achievements in pharmaceutical industry while African countries whose leaders shared diplomatic drama with Prime Ministers Nehru and Indira Gandhi are still indulging in importing expired medicines from his country.

BRICS must tackle racial exclusion of millions of the African Diaspora who populated the Indian subcontinent many centuries ago. Likewise in Brazil. G7 countries are sharpening cobra fangs. · Prof Oculi writes from Abuja

ELON MUSK’S X AND CONTENT CREATORS Conscious of the dwindling fortunes from when Musk announced certain changes advertising and the possible negative impact that didn’t go down well with them. on the struggling Twitter which he rebranded Musk acquired Twitter for $44billion as X, Elon Musk took unusual steps in June. in October 2022 at a great risk and he has He announced incentives for content creators determined to weather the storms despite DQG D VXP RI PLOOLRQ ZDV VHW DVLGH IRU WKDW declining revenue and near intimidating purpose. He stated that X will start paying competition.

YHULÀHG FRQWHQW FUHDWRUV IRU WKH DGYHUWLVHPHQW He had announced a feature that will in their replies.

EHQHÀW FRQWHQW FUHDWRUV RQ WKH VRFLDO “In a few weeks, X/Twitter will start paying media platform. In a tweet posted earlier , creators for ads served in their replies. First he said Twitter will from now on provide EORFN SD\PHQW WRWDOV 0 µ WKH ELOOLRQDLUH VDLG subscribers’ email addresses to content in a tweet. creators. The move will allow content ´1RWH WKH FUHDWRU PXVW EH YHULÀHG DQG RQO\ creators to easily interact with their DGV VHUYHG WR YHULÀHG XVHUV FRXQW µ KH DGGHG subscribers outside Twitter. Musk’s tweet The company had moved to subscription- has been widely appreciated by users and EDVHG YHULÀFDWLRQ DQG UHVWRUHG WKH EOXH WLFN RI his followers, who also asked about what users with over a million followers. other changes he is planning to implement This move is to promote subscriptions and on the platform. retain advertisers after the assumption of duty “This platform will provide email addresses of subscribers (who opt in) to content creators, so that creators are able to leave this platform easily and take their subscribers with them if they want,” Musk said.

Within hours of being posted, the tweet amassed more than six million views and over 6,700 retweets. It set the platform RQ ÀUH ZLWK VHYHUDO FRQWHQW FUHDWRUV appreciating the move.

“Impressive! Appreciate that @elonmusk & X team,” a user responded. “I’ve literally left Facebook behind as Twitter is not only more engaging, but it’s just better in every way. Good work mate!” said another.

Some users wanted to know if it would be possible for them to do the opposite of it since they have subscribers on other E\ QHZ FKLHI H[HFXWLYH R΀FHU /LQGD <DFFDULQR platforms. ´,W KDSSHQHG ³ ÀUVW GD\ LQ WKH ERRNV µ VKH Musk’s tweet came days after Yaccarino had tweeted. took over as the new Twitter CEO. The Since Musk acquired Twitter, the “company former advertising chief at NBCUniversal has been struggling to retain advertisers, who took over Twitter at a time when the have been wary about the placement of their company is trying to reverse a plunge in ad DGV DIWHU WKH FRPSDQ\ ODLG RͿ WKRXVDQGV RI revenue. employees.” <DFFDULQR KDV EHHQ D NH\ ÀJXUH LQ But Musk has implicit fate in Yaccarino, an modernising the advertising business advertising guru to improve the company’s at NBCUniversal, which is owned by relationship with brands after losing business Comcast Corp. following his takeover, and rejigging of the o Nigerian content creators on Twitter site’s content rules. started receiving payments for ads Musk thinks that the new initiative to share displayed on their feed early in August as SDUW RI KLV DGYHUWLVLQJ SURÀWV ZLWK FRQWHQW they took to the social media platform to creators especially in high tech savvy countries display various sums received as payment like Nigeria and India is simply to test the from X. waters and if this boosts the revenue of X, he o The company had said creators need will spread the initiative to other parts of the WR EH YHULÀHG DQG KDYH DERXW IROORZHUV world.

DQG ÀYH PLOOLRQ LPSUHVVLRQV WR EH HOLJLEOH The payments started in the United States X rolled out payment globally when it of America (USA) in July despite Musk’s announced the programme’s extension reservations that the society is being high WR JOREDO XVHUV DW WKH HQG RI -XO\ 9HULÀHG handed on him and his businesses essentially users in Nigeria and worldwide, who met because of rights/ labour laws violations. the criteria and the impressions threshold (DUO\ LQ -XO\ WRR 0XVN DQQRXQFHG D on their posts and content, received drop in advertising revenues and a debt payment. overhang of $13billion which experts say Many paid creators took to the platform will continue to hamper growth despite the to display their receipts and appreciate seemingly robust initiatives.

Twitter/X owner Musk for this initiative.

The company expected revenue boost in According to the creators, Musk had June by its own projections which did not given them a reason to remain on the materialize thus creating more nightmares for platform and continue churning engaging Musk and his management.

FRQWHQW 8VHUV PXVW KDYH EHHQ YHULÀHG RU 7UD΀F KDG GHFOLQHG DV FRPSHWLWLRQ ZLWK subscribed to Twitter Blue to be eligible for Mark Zuckerberg ‘s Threads debuted. payment.

Musk’s style of running the place is also believed to be a hindrance to its growth as Aragba-Akpore advertisers began to withdraw their adverts is a member of THISDAY Editorial Board

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EDITORIAL

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

OPENING THE FLOODGATES OF LAGDO DAM The authorities must do everything to mitigate the impact of the expected floods

W

ith the alert from the Cameroonian authorities of a planned release of excess water from their Lagdo Dam, another period of misery and pain is approaching for Nigerians.

A recall of the frightening impact RI WKH ÁRRG WKDW XQOHDVKHG PD\KHP LQ ZKHQ WKHVH VDPH ÁRRGJDWHV ZHUH RSHQHG VKRXOG FRPSHO urgent attention. Since to be forewarned is to be forearmed, we hope that authorities in Abuja and the DͿHFWHG VWDWHV ZLOO EH RQ WKHLU JXDUG UHJDUGOHVV RI WKH &DPHURRQ JRYHUQPHQW·V SURPLVH WKDW ´R΀FLDOV RI WKH Lagdo Dam will be releasing only modulated variable small amounts of water in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.”

Before the latest warning from the Cameroonian government, the I n t e r n a t i o n a l Organisation for Migration (IOM), had similarly predicted WKDW QR IHZHU WKDQ million Nigerians are at the risk of displacement this \HDU DV WKH DQQXDO UDLQ\ VHDVRQ LQWHQVLÀHV 7KH ,20 UHSRUW HVWLPDWHG WKDW PLOOLRQ ZLOO EH QHHGHG WR secure the most vulnerable populations against the LQHYLWDEOH ÁRRGV WKURXJK VKHOWHU DQG UHORFDWLRQ HͿRUWV IURP 0D\ WR 2FWREHU WKLV \HDU ´7KH IXQGV ZRXOG EH used for immediate rescue missions and longer-term resettlement and rehabilitation initiatives,” the IOM stated.

Unfortunately, these warnings will not be taken seriously by the Nigerian government, according to the Executive Director of Health of Mother Earth Foundation (HOMEF), Nnimmo Bassey. “A look DW KRZ SDVW ÁRRGV KDYH EHHQ KDQGOHG LQ 1LJHULD shows clearly that we are not short of predictions and forecasting of impending disasters,” Bassey lamented.

“Our governments and responsible agencies have consistently fallen short of the expectations of citizenry who have been routinely abandoned to battle the ÁRRGV µ

,Q WKH ÁRRG DFFRUGLQJ WR 1(0$·V UHSRUW QRW less than 665 people died in the country, while the World Bank put the cost of losses at about $6.7 billion.

7KLV ÀJXUH ZDV DUULYHG DW DIWHU FRPSXWLQJ VHYHUDO WKLQJV 7KH /RNRMD $EXMD KLJKZD\ ZDV LPSDVVDEOH IRU over a week, stalling economic activities; there were property and crops losses as it happened close to the rice harvest season. But on the threat coming from Cameroon, NEMA claims to be on top of the situation and has been embarking on sensitisation campaigns DFURVV 1LJHULD ´7KH OHWWHU LV JHQXLQH ,W LV QRW FRPLQJ WR XV E\ VXUSULVH :H LGHQWLÀHG YDULRXV OLNHO\ FDXVHV RI ÁRRG LQFOXGLQJ SRVVLELOLW\ RI H[FHVV ZDWHU UHOHDVH IURP WKH /DJGR 'DP DQG LQFOXGHG DOO LQ RXU ÁRRG preparedness for the year,” said the spokesman of the agency, Manzo Ezekiel. ,Q -XO\ 1(0$ launched an initiative :HE EDVHG ÁRRG DQG early warning system) to take disaster early warning measures to the grassroots level for sustainable socio-economic growth. “Concerning our awareness programme on ÁRRG VHQVLWLVDWLRQ LW·V DQ RQJRLQJ SURJUDPPH WKDW we started early in the year, particularly after the release of this year’s climate forecast by the Nigerian 0HWHRURORJLFDO $JHQF\ 1L0HW DQG DQQXDO ÁRRG outlook by Nigeria Hydrological Services Agency,” said Ezekiel. “NEMA commenced immediate sensitisation, because this forecast instrument contains LQIRUPDWLRQ WKDW VKRZV OLNHOLKRRG RI ÁRRG LQ VRPH parts of the country.”

7KH JUHDWHU FRQFHUQ LV IURP WKH 1LJHULD +\GURORJLFDO Services Agency (NiHSA) which urges the federal government to address the challenge of seeking the requisite hydrological data from the agency before HPEDUNLQJ RQ SURMHFWV 7KDW WKH DJHQF\ LV VWDUYHG RI both funds and manpower is indicative of the lack of premium we place on its work according to the Director General, Clement Eze. While we urge the federal government to take NiHSA more seriously, the immediate challenge is how to mitigate the disaster that is bound to come from the Lagdo Dam in Cameroon.

Our governments and responsible agencies have consistently fallen short of the expectations of citizenry who have been routinely abandoned to battle the floods 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 CAN TINUBU BREAK THE MAMBILLA POWER JINX? As events unfold in the renewed hope regime of President Bola $KPHG 7LQXEX LW LV TXLWH FOHDU WKDW KH LV D GRJJHG ÀJKWHU ZKR WDNHV ÀUP GHFLVLYH GHFLVLRQV ZLWKRXW ERWKHULQJ DERXW ZKRVH R[ LV JRUHG 7KH 0DPELOOD K\GUR SURMHFW KRZHYHU KDV D IXQQ\ WZLVW WR LW ZKLFK UHTXLUHV IRFXV RQ WKH QDWLRQ·V GHYHORSPHQW DV LW·V ÀUVW priority.

7KH FRUH IXQGDPHQWDO LVVXH LV WKH IXQGLQJ H[SHUWLVH DQG H[HFXtion. With very challenging economic times, external funding can be most useful especially for a very critical project of this magniWXGH DQG LWV HFRQRPLF EHQHÀWV WR WKLV JUHDW QDWLRQ 7KH &KLQHVH DUH prepared or ready to provide funding and expertise to the tune of $4.5bn but have given a condition that FGN settles the local conWHQW SLRQHHU RI WKH SURMHFW 6XQULVH 3RZHU 7UDQVPLVVLRQ &RPSDQ\ /LPLWHG 637&/ Whilst a settlement was reached under the directive of President 0XKDPPDGX %XKDUL LQLWLDWHG E\ WKH ODWH FKLHI RI VWDͿ $EED .\DUL both the minister of justice and minister of power went into a legally binding settlement with Sunrise and its chairperson Mr. Leno Adesanya.

8QIRUWXQDWHO\ )*1 IDLOHG WR IXOÀOO WKH WHUPV RI WKH DJUHHPHQW DV a result of funds as directed in a memo from the then president to

his minister of justice.

7LOO GDWH FKDLUPDQ 6XQULVH KDV UHDFKHG D VHFRQG UHVROXWLRQ WR either get settled directly by FGN or have the statutory 15% contribution by FGN made to the Chinese to enable them settle sunrise directly and move on with the project execution.

Unfortunately, some elements in the department of justice have WDNHQ LW XSRQ WKHPVHOYHV ZLWK D IRUHLJQ OHJDO ÀUP :KLWH &DVH WR FKDUJH )*1 KRXUO\ LQ GROODUV WR ÀJKW 6XQULVH ZLWK WKH VROH DLP RI discrediting the company and indicting its chairman for perceived LQGXFHPHQW RI JRYHUQPHQW R΀FLDOV 7KH IRFXV IRU 3UHVLGHQW 7LQXEX RQ SURMHFW LV :RXOG WKH &KLQHVH who are coming to fund the project overlook Sunrise power comSDQ\ ZKRP WKH\ KDYH JLYHQ FRQGLWLRQ IRU VHWWOHPHQW" 7KH DQVZHU is capital No. It then becomes incumbent that 3UHVLGHQW 7LQXEX PXVW HQVXUH WKH QDWLRQ·V GHYHORSPHQW FRPHV ÀUVW DQG HQIRUFH DQ LPPHGLDWH VHWWOHPHQW RXW RI FRXUW ZLWK )*1 6XQULVH 3URFHHGLQJ ZLWK WKLV YLDEOH SURMHFW JXDUDQWHH·V jobs, economic spillover and long term renewable energy for the Northeast region and the country at large.

Ibrahim Mustapha, Pambegua, Kaduna State

THE SCREAM AND THE SNARL )LUVW ZH KDG 0XQFK·V ´7KH 6FUHDPµ D FRPPHQW RQ WKH KXPDQ FRQGLWLRQ DQG QRZ ZH KDYH 7UXPS·V ´7KH 6QDUOµ D FRPPHQW RQ WKH SROLWLFDO V\VWHP Munch’s work was the result of a panic attack, is 7UXPSV DOVR WKH UHVXOW RI D SDQLF DWWDFN" Munch’s work also contains an almost hidden message “Can only have been painted by a madman.” but will people see a similar message in 7UXPS·V FDUHIXOO\ VWDJHG SKRWR" 7KLV VWDQGDUG PXJVKRW ZLOO DSSHDU LQ HYHU\ SDSHU RQ HYHU\ 79 QHZV GLVFXVVLRQ DQG LV DOPRVW FHUWDLQ WR EH WKH VXEMHFW RI QXPHURXV PHPHV DQG OLNH ´7KH 6FUHDPµ LW ZLOO EH DYDLODEOH RQ 7 6KLUWV SUREDEO\ within a day. What will the televised trial be a complete media circus or the careful discussion of a legal matter? I already know the answer.

Dennis Fitzgerald, Melbourne, Australia

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T H I S D AY ˾ WEDNESDAY, AUGUST 30, 2023

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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

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EXCHANGE RATE

OPR

11.25%

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19.12%

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611.31%

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11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

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Nigeria’s Foreign Debt Service Gulps $1.17bn in Six Months

Nume Ekeghe As the fereal government look inwards to fince key projects rather tan depend of borrowing, it has emerged that the federal government spent $1.17 billion to service foreign debt obligations in the first half of 2023.

This is according to the Export and International Payment data released released by the Central Bank

of Nigeria (CBN).

The report showed that in January 2023, the federal government expended $112.35 million in servicing its foreign debts.

February saw a higher outlay of $288.5 million, followed by $400.5 million in March. April brought about a noteworthy expenditure of $92.8 million.

May witnessed a total expenditure of $221 million

to meet these obligations.

However, the most striking aspect of this data was the month of June, which recorded an exceptionally high servicing cost of $543 million, marking the highest figure in 13 months.

Further analysis of the report showed that the total direct remittances for the first half of 2023 amounted to $951.99 million.

A detailed breakdown of

the remittances showed that January accounted for $79.2 million, while February saw $83.76 million.

In March, a substantial sum of $138.6 million was recorded, and April followed with a remittance of $159.04 million.

As we move into the later months, May witnessed an influx of $202 million, and June saw a significant increase with $297.4 million

in direct remittances.

The federal government had on Monday said it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, stated this at the end of the inaugural Federal Executive Council meeting

on Monday in Abuja.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

Six Banks Generate N891.14bn from Customers’ Loans Nume Ekeghe Following the increase in Central Bank of Nigeria (CBN)’s Monetary Policy Rate (MPR) to 18.5 per cent, a total of six banks generated N891.1billion from loan and advances to customers in first half ended June 30, 2023.

This is an increase of 47.14 per cent from N605.63 reported by the six banks in H1 2022.

The six banks are FBN Holdings Plc, Ecobank Transnational Incorporated (ETI), FCMB Group Plc, Fidelity Bank Plc, Sterling Financial Holdings Company

Plc and Wema Bank Plc. The six banks declared N18.98 trillion loan to customers as of June 30, 2023 from N13.43 trillion reported in 2022 financial year.

Access Holdings Plc, United Bank of Nigeria Plc, Guaranty Trust Holding Plc, Zenith Bank Plc, among others have not released half year ended June 30, 2023 to investing public.

MPR has increased by 5.5 percentage points Year-onYear (Yoy) from 13 per cent in June 2022 to 18.5per cent June 2023.

The Monetary policy Committee of the CBN had

further increase MPR to 18.75 per cent in a move to tackle rising inflation rate.

With the increase in MPR, average lending rate in the banking sector increased to 28.94 per cent as of June 2023 from 27.61per cent reported in June 2022.

The breakdown of the N891.1billion loan and advances to customers showed that ETI generated N246billion from loan and advances to customers in H1 2023, 46 per cent from N168.72billion in H1 2022, while FBN Holdings reported N254.99billion loan and advances from customers

in H1 2023, a growth of 53.3 per cent from N166.32billion in H1 2022.

Fidelity Bank reported N164.04 billion loan and advances from customers in H1 2023, an increase of 56 per cent from N104.84billion in H1 2022, as FCMB group declared N114.41 billion loan and advances from customers in H1 2023, 45.3 per cent growth from N78.75 billion reported in H1 2022.

FCMB Group grew its loan book by 37 per cent YoY to N1.5 trillion with loans to Manufacturing, Agriculture and Oil & Gas sectors

contributing the highest to loan book growth.

Furthermore, Sterling Financial Holdings Company declared N58.18billion loan advances to customers in H1 2023, 23 per cent from N47.04billion in H1 2022.

In addition, Wema bank reported N53.5 billion loan and advances to customers in H1 2023, a growth of 34 per cent from N39.97billion in H1 2022.

FCMB Group had leveraged on digital lending to increase its loans in the period and boost its profit.

The Chief Financial Officer -

FCMB Group, Mr. Deji Fayose during the group’s investors presentation said, N22.6 billion was generated from digital payments, lending activities and wealth management in H1 2023, a 31per cent growth from H1 2022.

According to him, digital revenues accounted for nine per cent of gross earnings for H1 2023 driven by lending and payments.

He disclosed that over N123 billion disbursed to 771,622 customers as at H1 2023, stressing that digital lending now accounts for 65 per cent of digital revenues.

M A R K E T D ATA A S AT T U E S D AY, A U G U S T 2 9 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) ^13.53 2310.408, 10.63 -0.01 August 28, 2023 MAR-2025 00 ^12.50 22August 28, 9.881,00 13.08 0.23 JAN-2026 2023 ^16.2884 10.896, 13.08 August 28, 0.00 17-MAR-27 00 2023 ^13.98 2310.122, 13.60 August 28, -0.01 FEB-2028 00 2023 ^14.55 2610.185, 14.05 -0.10 August 28, APR-2029 00 2023

BILLS MATURITY

Discount Yield

NTB 7-Sep23 NTB 26-Oct23 NTB 9-Nov23 NTB 7-Dec23

2.25

NTB 25-Jan24

2.25

3.56

3.58

3.94

3.97

4.69

4.75

6.00

6.15

OTC F X F U T U R E S

CPS

Change (%) Updated Time 28, -3.85 August 2023 28, -0.14 August 2023 28, -2.90 August 2023 28, -2.47 August 2023 28, 0.00 August 2023

MATURITY

Discount Yield

ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

15.05 15.57

28, -2.82 August 2023

19.49 20.42

28, -2.74 August 2023

11.89 12.24

28, -2.73 August 2023

19.50 20.45

28, -2.73 August 2023

17.04 17.77

28, -2.71 August 2023

VAAG CP XVII 24-N OV-23

Change (%) Updated Time

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

24

WEDNESDAY, AUGUST 30, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

WELCOME TO FIRSBANK…

Executive Director, Corporate Banking, FirstBank, Mr. Tosin Adewuyi; President, Institute of Chartered Accountants of Nigeria (ICAN), Dr. Innocent Okwuosa; CEO, FirstBank, Dr. Adesola Adeduntan; Executive Director, Chief Risk Officer, FirstBank, Mr. Olusegun Alebiosu and Executive Director, Chief Financial Officer, FirstBank, Mr. Patrick Iyamabo during a courtesy visit by a delegation of ICAN Council members, led by the ICAN President, to the FirstBank CEO at the FirstBank headquarters in Lagos...recently

Naira Slide: NEPC Rallies Youths to Boost Capital Inflows James Emejo in Abuja Determined to firm up the Naira amid current vulnerabilities, the Nigerian Export Promotion Council (NEPC) has mobilised youths into the non-oil export business.

The council said rallying the youths to actively participate in exports

will among other things curb youth restiveness, generate employment and the scarce foreign exchange, thereby helping to strengthen the local currency moving forward.

Speaking at the official inauguration of the Youth for Export Programme (YEP) in Abuja, Executive Director, NEPC, Dr. Ezra

Yakusak, pointed out that the objective was to link the youths to experienced exporters so they could be engaged in formal export.

He told THISDAY that the programme would engage about 2,000 youths every year and prepare them to export, adding that the initiative would lead to an increase in

foreign exchange earnings.

He said, “At the end of the day, what we want to achieve is to curb this issue of youth restiveness, generate employment and of course, generate the needed foreign exchange.

“What is happening to the naira is not right and so we will do everything possible to ensure that we

Access Pensions Surpasses N1tn Assets Under Management Milestone Nume Ekeghe Access Pensions Limited, a subsidiary of Access Corporation, has achieved a feat surpassing the N1 trillion mark in assets under management (AUM).

Emerging from the business combination of Sigma Pensions and First Guarantee Pension in December 2022, in an impressive trajectory, the Company has scaled up its assets under management to surpass the N1 trillion threshold in just six months.

This feat firmly establishes Access Pensions position as the fourth largest Pension Fund Administrator (PFA)

measured by AUM and the second largest PFA, overseeing a portfolio of over 1 million Retirement Savings Accounts (RSAs).

Commenting on this feat in a statement, the Managing Director, Access Pensions, Dave Uduanu said: “Our journey to N1trillion has been guided by a strong commitment to partnering with clients to shape their future.”

While technology served as a cornerstone, Uduanu also attributed Access Pensions’ success to a disciplined investment management approach and a resolute client-centric philosophy.

He said, “Leveraging on technology in service delivery to improve user

experience, following a disciplined approach to investment management, and being a member of the largest financial ecosystem in Nigeria, we can offer clients a superior retirement planning experience.

Having a client-centric approach has played a significant role as we look to match our client’s needs and aspirations, building trust along the way.”

He added that Access Pensions is committed to delivering consistent results, even in challenging times, which has been the cornerstone of its credibility and client promise.

He noted that Access Pensions has brought forth innovative products that cater to a wide range of

risk preferences, effectively staying ahead of changing demands.

He added: “Our vision is clear – to provide our clients with the financial tools needed to shape their retirement future. We are dedicated to raising the bar in service, performance, and client satisfaction. As we expand, responsible and sustainable investing will remain our priority.”

He added that with its range of innovative products and remarkable achievements like this, Access Pensions is unquestionably charting a new course for success in the pensions industry and playing a pivotal role in shaping the financial future of Nigerians.

Atiat Secures BBB Long-Term Rating Nume Ekeghe Atiat Limited, an indigenous proprietary leasing and lending company, has announced its recent BBB Long-Term Rating by DataPro, a compliance, corporate governance, and fraud risk management consulting firm.

This rating underscores Atiat’s operating resilience, financial capability, and robust business profile.

The rating was done on

two levels with a shortterm rating of A2 and long term rating BBB indicating fair credit quality and good financial strength respectively.

In a statement, the Managing Director/ Chief Executive Officer at Atiat Limited, Kanayo Eni-Ikeh noted that the recent DataPro’s BBB rating is a testament to the company’s ongoing effort to provide competitive service that drive value for their various clientele.

“As a financial service provider whose critical currency of exchange is trust, we are persuaded that this rating will further increase our clients’ and the public’s confidence in our business, ”he said.

Kanayo added: “We are excited about DataPro’s evaluation and validation of our services and business.

This BBB Long-Term Rating is a distinct reaffirmation of our commitment to

delivering unparalleled financial solutions and building enduring partnerships with our growing clientele.”

“With this rating we assure our clients that we are not resting on our oars. We commit to expand our array of services, become more efficient in our services delivery and adopt global practices to ensure customer asset portfolio growth and satisfaction, ”Kanayo concludes.

curb that trend. That is the essence of this programme and at the end of the day, the economy will be better for it and our non-oil export performance will increase drastically.”

Yakusak noted that about 60 per cent of the country’s population was made up of vibrant youths which should ordinarily be a catalyst for economic growth and development.

However, he expressed worry that Nigeria has not been able to properly harness the strength and skills of its growing youth population to accentuate socio-economic growth.

He said while some countries have leveraged on their increasing youth population to grow their economies through deliberate policies and strategies

targeted at integrating youth businesses into the national economic programmes, the reverse had been the case in Nigeria.

This, he said, explains why the government needed to manage the mass migration of youths from Nigeria to other parts of the world by curbing the “Japa syndrome”.

The NEPC boss stressed that the country’s future depended on its ability to harness and invest in human capital development and provide sustainable economic opportunities for the youths.

He said in the non-oil export space, Nigerian youths have been faced with daunting challenges militating against their efficacious performance in international trade.

ICAN Establishes First Bank Chapter Nume Ekeghe The Institute of Chartered Accountants of Nigeria (ICAN) has inaugurated the First Bank chapter in its bid to bolster and elevate ethical aims and technical prowess within the accounting field for both First Bank employees and the broader professional community.

During a courtesy visit to First Bank’s headquarters, in Lagos recently, the Council of the institute revealed that the bank’s longstanding dedication to excellence, coupled with its 330 associates holding ICAN membership, justified the establishment of the First Bank chapter.

The Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan also mentioned during the visit that 70 per cent of their

leadership consists of ICAN members and urged the institute to continually emphasize on enhancing skills to stay current with the latest trends.

Adeduntan said: “I appreciate the Council for deciding to give us this First Bank chapter of ICAN. When you have a leadership team that is already 70 per cent ICAN membership. So, that then speaks volumes about how that level of membership cascades across the entire organisation.”

On his part, the President ICAN, Dr. Innocent Iweka Okwuosa said: “We want to commend First Bank and its subsidiary for promoting excellence in banking in over 130 years of history and we acknowledge that First Bank is truly the African bank of first choice.

T H I S D AY ˾ WEDNESDAY, AUGUST 30, 2023

25

BUSINESSWORLD

NEWS

L-R: Chief Innovation Officer, Red Star Express Plc, Tonye Preghafi; , GMD/ CEO, Red Star Express Plc, Awualu Babura; Managing Director/CEO, Nitro 121 Limited, Lampe Omoyele and , Group Executive Director, Red Star Express, Charles Ejekam during the Red Star Express Managers’ Strategy Retreat held in Lagos… recently

FG Unveils Year Seven-year Plan to Become Africa’s Creative Capital Gilbert Ekugbe The Minister of Art, Culture and Creative Economy, Hannatu Musawa, has unveiled a seven strategic plan in an effort to make Nigeria the creative capital on the continent.

In a video message to the creative industries and other stakeholders at the Art and Tech district in Abuja, the minister said the seven year strategy, “Destination 2030” is a national initiative designed to grow the arts, culture and creative economy under one United vision.

Musawa added that the plan is a promise to deliver more jobs, more inbound visitors and more local opportunities that will enhance the development of all creative

sectors in the country.

She added that to achieve the feat, the ministry has created a comprehensive eight-point plan that would deliver its collective vision for the creative sector.

Highlighting the plan, she said skills development would be prioritised through comprehensive training programmes to ensure all professionals within the economy are well-prepared to excel in their respective fields.

She noted that plans are also ongoing to fastrack the improvement, creation and implementation of policy frameworks that effectively stimulate increased revenue generation, job creation, and sustainable growth across the entire sector.

“A key part of that strategy is Intellectual Property Protection to safeguard the creations of artists and content creators, fostering innovation and creativity,” she said.

She pointed out that the Ministry is also developing a comprehensive and effective strategy for the arts, culture, and creative economy, maintaining that within this strategy, it will clearly outline its objectives, targets, and actions for sectoral growth and development.

“Its implementation will be underpinned by a cohesive governance structure that will foster collaboration among government agencies, private sector entities, academia, and artists to drive the growth of the FMACC ecosystem.

We will further support

this collaborative structure by establishing a Creative Economy Advisory Council that will provide high-level strategic support to the Ministry. I look forward to working closely with Ministry, departments, agencies and all other stakeholders to deliver our vision,” she assured.

She also stated that the Ministry is set out to facilitate the creation of Public-Private partnerships that will stimulate investment in the creative economy and expedite the development of critical infrastructure, technology, and innovation hubs.

“In addition, it aims to leverage PPPs to catalyse private sector investment in FMACC, enhancing economic diversification and creating a favourable business

environment,” she noted.

“Our plan has clear growth targets. Among those targets is our ambition to elevate the Nigerian industries, comprising Art, Culture & Creative industries to rank among the top 20 globally in terms of GDP contribution, wealth creation, employment, and poverty reduction in line with the agenda 2050,” she averred.

Going forward, she said

AGF Urges States to Leverage Technology to Plug Leakages James Emejpo in Abuja

UBA Empowers SMEs With Health Management Strategies Nume Ekeghe United Bank for Africa (UBA) has equipped an array of business owners with guidance on effectively managing their health for long-term business sustainability.

This was the discussion at the just concluded UBA Business Series with the theme, “Financial Fitness: Balancing Health and Wealth for Small Business Owners.

The event, held in a hybrid format at the UBA Head office in Lagos highlighted the importance of purposefulness,

physical well-being, and regular health evaluations in attaining success within entrepreneurial endeavors.

The panel, comprised of the following speakers Group Head of Medical Services at AVON HMO, Adeyemi Adeyinka, founder of Kemen Fitness, Kemen Ekerette, an artist and fitness enthusiast, Saga Adeolu, and group Head of Retention and Growth at AVON HMO, Atinuke Kolade.

According to Adeyinka, cultivating a balance between work and personal life,

alongside detailed health assessments on vital organs such as lungs, liver, and kidneys, is important for SME operators.

“It is important for business owners to maintain a good work-life balance, and parameters such as knowing the state of your health, creating an enabling environment for yourself, and having annual wellness checks on your organs is very important for you as a small business operator,” stated Adeyinka.

On his part, Ekerette advised

customers and business owners to be intentional in ensuring that they are physically fit, adding that “eating right, resting and exercising should be a part of every entrepreneur’s daily life,” he noted.

Adeolu emphasized the importance on physical well- being and fitness and its impact on building a sustainable business. He said: “If you are not physically fit, you may not be able to make good financial decisions in your businesses,” Adeolu affirmed.

Tinubu, Wike, Chaudhuri, Others to Attend CIBN Conference Nume Ekeghe President Bola Tinubu, the Federal Capital Territory Minister, Nyesom Wike, Nigeria Country Director, World Bank, Mr. Shubham Chaudhuri are slated to converge at the 16th annual banking and finance conference organised by the Chartered Institute of Bankers of Nigeria (CIBN).

Chairperson, consultative committee of the 16th

annual banking and finance conference and Managing Director of FSDH Merchant Bank, Mrs. Bukola Smith disclosed this at a media parley in Lagos.

Smith said that the conference would be held in a hybrid format from September 5 to 6, saying it will be held partially in-person and online.

According to her, the physical location of the event is the Transcorp Hilton Hotel, Abuja.

She said that the conference with the theme, “Nigeria’s Economic Growth and Empowerment: The Role of the Financial Services Industry,’’ would allow industry experts to brainstorm and articulate real strategies for engendering an inclusive sustainable growth.

She said that the Country Director, World Bank, Mr Shubham Chaudhuri, would be the keynote speaker, acting-Governor of the Central

Bank of Nigeria, Folashodun Shonubi, would deliver a special goodwill message, and Dr Ken Opara, the Chief Host.

According to Smith, the conference will feature five thought provoking business and two break-out sessions.

She said: “Apart from providing participants a platform to connect with other professionals and industry stakeholders across the world, it promises to be intellectually stimulating.”

through innovative strategies, technological integration, and enhanced market access, the Ministry’s target is to increase the value of sectoral outputs by 50 per cent in line with the 2021 to 2025 national development plan.

To create an enabling business environment, the minister said the Ministry will prioritise infrastructural development aided by digital transformation.

The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, has charged Accountant Generals of the 36 states of the federation to deploy technology to deepen transparency and plug leakages in the management of public resources.

Speaking at the opening of a capacity building workshop for states account generals themed: “Financial Management, Innovation, Fraud Detection and Control for Sustainable Development,” she said technology remained crucial in ensuring prudent management of resources, and called on states to explore more innovative solutions to boost transparency and accountability in the administration of their treasuries.

She stressed that technology has revolutionised accounting practice especially in the aspect of recording, reporting, storage and retrieval of accounting information and record.

Madein said, “The federal government introduced the Treasury Single Account (TSA) Government Integrated Financial Management System (GIFMIS). Integrated Payroll and Personnel information system (IPPIS) among other innovations to block leakages and enhance financial transparency which is why we are urging states who have

not adopted these technologies to do so immediately.

“Although these innovations are still work in progress, the federal government is improving its operations periodically to boost service delivery”.

Earlier, Chairman of State Accountant Generals Forum/ Accountant General of Sokoto State, Mr. Umar Ahmed, said the capacity building workshop was crucial to sharing ideas of innovative ways of managing their work and mandate.

He said the training had been designed to provide participants with the knowledge and skills needed to excel in their mandates.

He said they would have the opportunity to learn about new developments in accounting and financial management.

Ahmed said, “As you all know, the 2023 general elections and subsequent swearing-in of winners in most states and the federal government gave rise to the appointment of new accountants- general in some states.

“Again, many accountantsgeneral have retired and those not affected by the above two situations require skill refreshment and upgrade especially as it relates to a series of emerging/ developing issues in financial management that require the attention and understanding of contemporary accountants.”

26

WEDNESDAY, AUGUST 30, 2023 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Improving Public Perception of Insurance One of the major challenges faced by insurance sector regulator and operators is how to improve Nigerians’ perception of insurance as a service that has positive returns, writes Ebere Nwoji

I

nsurance sector operators and the National Insurance Commission( NAICOM), said they would leave no stone unturned in their efforts to change the sector’s narratives in terms of good image creation to achieve popularity among Nigerians and stand out competitively in the global market.

To this effect, the industry operators said their starting point was migration from their old order of business operation which has been the bane of their growth and development to a new order that is in tune with what their counterparts in other climes. Their target is to win mass patronage and guard against foreign insurers taking over businesses from their environment.

Their effort started way back in 2009 under the administration of Mr Fola Daniel as the commissioner for insurance when the regulator introduced a major developmental and restructuring initiatives tagged Market Development and Restructuring Initiative( MDRI) , a medium term plan of the industry targeted at driving insurance penetration in Nigeria.

Shortly after this, the industry seemed to have perceived the need for total disruption of its old oder of business conduct to introduce new order embedded on technological usage in driving the market.

To achieve this, the operators at one of their annual insurance mega conferences held in Abuja, centered the theme of the conference on market disruption through the use of modern technology .

At a plenary session at the conference, the discussants unanimously agreed that for the insurance sector to achieve its growth and development dream, there was need for both the regulator and the operators to disrupt and discard the existing business model in use to embrace a novelty model anchored on use of modern technology.

Since then, industry observers affirmed that there had been a wild fire of innovations which emphasis is on technology usage burning from the regulator down to operators even insurance agents.

The regulator had given a stern warning to operators that will be tempted to maintain status quo in their operations.

At the insurance directors’ conference shortly after the COVID-19 pandemic, The Commissioner for Insurance Sunday Thomas had warned the directors saying “ The rapid changes brought about by the COVID-19 pandemic have drastically opened doors of opportunities for many positive thinking minds and created serious set back for many who are not able to cope with the speed at which some of these changes appeared. An obvious example is the technological advancement in the insurance industry which has been accelerated by the COVID-19 pandemic compelling many of us to shift from the traditional ways of conducting business to more sophisticated and technology driven mechanism.”

ANALYSTS’ ASSESSMENT

Sector analysts said the initiatives were yielding positive results in the area of easy and ready availability of insurance services to Nigerians even at the grassroots to the extent that the industry is today talking about partnership with insure-tech firms in circulating insurance products.

Operators said they were not stopping at that but would continue to use IT gadgets and online platforms to disseminate information on insurance to achieve drastic change in insurance perception

by Nigerians and enhance the contributions of the

take overs of many operating firms and fund injections in the existing shares of operating firms in the industry.

sector to the economy.

NIGERIANS’ PERCEPTION OF INSURANCE SECTOR

Before now, the insurance sector when judged by an average Nigerian is one of the sectors that made very minimal contribution to the national economy.

The industry portrayed the image of a sub sector of the finance services industry with the least contributions to Nigeria’s GDP. Until in recent years, the insurance sector was tagged poor cousin of the banking sector.

The government, the people and even foreign and local investors over the years viewed the industry from this perspective until recently, when activities in the sector were driven by new generation investors and operators who have to a large extent changed the narratives transforming people’s perception of the industry.

CLAIMS PAYMENT

A critical examination of the sector shows that aside disruption of the old business model; one other way the investors and operators tried to change public perception of the industry was total overhaul of their claims payment behaviour with a good number of operating firms determining to give new face to the business through change of negative attitude towards claims payment.

Indeed, claims payment in the industry has in recent times improved.

Operators also through research are frequently coming up with modern insurance products that appeal to the interest of the masses, addressing their needs and adding value to their economic lives.

RECOGNITION BY GOVERNMENT

With these, the insurance industry is today winning government recognition and acceptance

by Nigerians with both foreign and local investors taking positions in the industry by way of staking their funds in the shares of many insurance firms including weak firms which they have breathed life into through injection of funds.

The overall result is that the insurance sector has won higher recognition from government, the people and Nigerian neighbors.

For instance, industry watchers noted that in the past 10 years, there have been foreign

IMPACT OF INSURANCE TO ECONOMY

Investment experts said currently the sector is making great impact in the economy in the area of attracting foreign direct investment into the country, creating jobs for finance technocrats, agents and young school leavers, playing the role of intermediation between economy operators and business environment as well as working to achieve success in new frontiers of growth and development.

Thomas saw these in 2022 at a media retreat organised by the commission for journalists when he exclaimed, “the future of insurance sector is on a shifting land scape the landscape of Nigerian insurance sector has shifted and is still shifting a lot has changed in insurance business environment and is still changing, one of the changes being the financial inclusion strategy and what it means in insurance industry.

“In banking sector, financial inclusion takes place at the lower level of the pyramid but in insurance sector, it is not exactly like that in insurance sector, only the middle class buy insurance the lower level citizens feel they don’t have money to purchase insurance; the upper class feel they don’t need insurance, while only the middle level citizens think it wise to protect what they have through insurance. This being the case, the commission is using various initiatives to upscale insurance industry to global standard. “he said.

At the 2023 media retreat with the theme “Improving Stakeholders’ Perception 2023 and beyond,” Thomas said NAICOM was on its journey towards totally achieving global standard operational model having instituted several initiatives since 2020 his administration came into office.

He said the commission had completed some of these initiatives while some are on the verge of completion.

He cited example of brokers renewal of operating certificates from their office without visiting the commission’s office saying it was due to improvement in technology usage by the commission.

“GP1 was about N450 billion when we came in but now it’s about N723 billion. Several initiatives started in 2020; some are completed some are ongoing. We have to overcome some teething problems. The commission is not just giving to the industry but is being a partaker of the great initiatives. Two staff of the commission that we sent on training are today certified actuarists, we have approved many new products some of which the commission initiated the idea for the market the strategy plan for the industry signed to by every arm of the industry will be launched in October this year, ”he stated.

On challenges of low exchange rate of Naira to dollar and inflation which is currently affecting every sector of the economy, the NAICOM boss stated, “Of course, the fact is that where there is inflation, life insurance is worst hit because the value of your claim will be badly affected.

“But you see what we are going through as a nation, I believe that it is temporary. Two things had happened, the issue of subsidy removal and the issue of consolidation of the exchange rate.

All these are at the point of policy change and there are bound to be push back. So, what we are experiencing now are all push back, push back is bound to affect every sector of the economy.

“But if you look at what is happening now, the exchange rate is adjusting itself downwards.

However, there are things still being done and by the time, the entire initiatives materialises, definitely it will find its level.”

Thomas was optimistic that the sector would do better during Tinubu’s regime recalling that Lagos state government from which the industry gets highest patronage started its friendship with insurance sector during Tinubu’s tenure as the governor of the state.

Presenting a paper on ‘Insurance Sector and the Nigerian Economy: Impact, Challenges and the New Frontiers’, at the retreat, NAICOM’s Assistant Director Corporate Strategy, Dr Usman Jankara, said insurance sector in every economy plays the role of indemnification, intermediation, peace of mind, entrepreneurship, substitute for government social security, financial stability among other roles.

He said Nigerian insurance sector provides both life and non life services adding that the sector could be measured by indices such as assets base, claims ratio, capitalisation and retention ratio.

He said in terms of performance the sector had in the past eight years grown its Gross Premium Income(GPI) by 15 percent from N282.9 billion in 2015, to N726 billion in 2022, showing 15 per cent growth.

He said total assets of the industry within the same period grew from N917.3 billion in 2015 to over N2.382 trillion in 2022, showing 60.5 percent growth. According to him the industry also experienced significant growth in other indices such as claims ratio, capitalisation, retention capacity insurance penetration which stood at 0.4 percent and insurance density which is at 1.5 percent.

Jankara said all these indices overlook the wider intangible but very important contribution of insurance to the Nigerian economy.

He said the industry paid the lowest claims of N99.1 billion in 2014 and highest claims figure of N318.1billion in 2021, adding that within the period under review the sector remained profitable while loss ratios maintained tolerable perimeters.

He said within this period the sector had also made positive impact in the economy in the area of savings,investment and wealth creation,facilitation of trade and commerce, providing social security by reducing ad- - hoc support as well as giving peace of mind to economy operators.

NECA, LCCI Commends FG’s Eight-points Agenda Dike Onwuamaeze The Nigeria Employers’ Consultative Association (NECA) and the Lagos Chamber of Commerce and Industry (LCCI) have commended the federal government’s 8-point Agenda.

The 8-point agenda are food security, ending poverty, economic growth, and job creation. Others are improving access to capital, particularly consumer credit, inclusivity in all its dimensions, improving security, improving the playing field on which people and particularly companies operate, the rule of law, and fighting corruption.

The Director-General of

NECA, Mr. Adewale-Smatt Oyerinde, stated that the 8-point Agenda that was presented yesterday by the government would be fundamental to the revival of the economy.

Oyerinde said that “while the Agenda were succinct and addresses the core issues that the nation currently faces, we urge that strong coordination efforts should be put in place to avoid the agenda being caught up in inter-ministerial misalignments and narrow implementation as witnessed in past administrations” He averred that key success factors for the 8-point agenda will be how well the government co-ordinate the activities of the ministries to complement each other rather than the numerous

contradictions we witnessed in the past.

He also harped on the importance of the level of engagement with critical stakeholders, including the Organised Private Sector and the formulation of a performance tracking metrics to assess the performance of each Ministry, Department and Agencies.

“It is instructive to note that about 60 per cent of the 8-point agenda will need the critical input of the Private sector, thus, it will be in the interest of the government to give due attention to the survival of the private sector in order for the 8-point agenda to become a reality. While the challenges that we currently face is multi-

dimensional, it is imperative to apply a multi-dimensional approach to resolving them” In its own statement, the Director General of the LCCI, Dr. Chinyere Almona, commended President Bola Ahmed Tinubu’s 8-point agenda but added that “Nigerians, both corporations and individuals, are not particularly inclined to settle for poor results considering the sacrifices.”

Almona said that “he LCCI is of the view that if these highlighted policy thrusts of the administration are well articulated and implemented, they are certain to strongly impact the nation’s socio-economic landscape.

“Specifically, the administration’s target of creating 50 million jobs should

go beyond a policy statement, as implementation is critical to the economy. The most sustainable approach to job creation is to support production and create an enabling business environment for the private sector. A thriving private sector will continue to create jobs for the foreseeable future.”

She added that all ministries should clearly articulate the priority areas and further divide them into strategic initiatives with clear timelines and responsibilities for performance, monitoring and evaluation.

The chamber also anticipated the development of critical metrics with special emphasis on impact, growth and job creation, poverty reduction and investment attraction.

“We look forward to a comprehensive policy document by sector, which will demonstrate the government’s clarity of vision, courage, and creativity in achieving the admirable socio-economic agenda.

“The chamber recommends the implementation of responsive fiscal and monetary policy measures in order to ensure/ promote macroeconomic stability with a particular focus on effectively managing inflation, addressing the challenge of high interest rates and foreign exchange shortages.

“The LCCI also anticipates that the government would focus its policy efforts on sectors with the potential of generating high employment,” she said.

WEDNESDAY AUGUST 30, 2023 • T H I S D AY

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T H I S D AY WEDNESDAY, AUGUST 30, 2023

BUSINESS/MONEYGUIDE

NPA, Customs Renew Synergy to Boost Exports, Discus Investment with Japanese Envoy The Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) have renewed cooperation to boost exports and facilitate trade.

The renewed synergy was expressed when the Managing Director/CEO of NPA, Mohammed Bello Koko visited the Acting Comptroller General of the NCS Bashir Adewale Adewale at the Nigerian Customs Headquarters in Abuja.

The meeting focused on enabling the ease of exports processing by eliminating all procedural bottlenecks that constitute delays and affect the competitiveness of Nigerian goods especially agro-allied products in the international marketplace.

Whilst commending the NPA for creating Export Processing Terminals (EPTs) which have

advanced the fortunes of exports, the Customs boss assured that the NCS was finalizing efforts at streamlining the multiplicity of Customs Units / checkpoints, evacuation of overtime cargo from the Ports, speedy relocation of the Custom facility standing on the rail link of Apapa Ports and resolving all challenges to pave way for the optimization of Ikorodu Lighter Terminal.

Given that balance of trade is crucial to strengthening the value of the Naira, this renewed collaboration between the NPA and the NCS will add fresh impetus to the efforts of President Bola Ahmed Tinubu at growing the national economy.

In a related development, Bello Koko on the invitation of the Japanese Ambassador and Permanent Representative to ECOWAS, Matsunaga

Kazuyoshi, was at the Embassy of Japan in Nigeria to discuss new vistas of investment opportunity the Authority’s platforms can offer.

Matsunaga who commended the NPA for facilitating the growth in the value of Nigeria - Japan trade volumes which had risen to $ 10bn annually, promised to broker greater partnership between the NPA and the Japan External Trade Office (JETRO) Responding, Mohammed Bello Koko said, “given the national exigency of strengthening the value of the Naira, we are keen on growing the export value of the growth in trade figures between Nigeria and Japan, and we have new initiatives and offerings in place to support Nigerian exports and exporters, which we invite the global Japanese community to explore”.

Anthrax: Leadway Assurance Provides Expert Advice to Farmers Ebere Nwoji Leadway Assurance, has employed measures to offer critical risk mitigation guidance and support to Nigerian farmers in response to the escalating concerns on the recent anthrax outbreak that has impacted livestock nationwide.

Anthrax, a bacterial infection infamous for its destructive effects on livestock populations, has emerged as a significant menace to farmers’ livelihoods throughout Nigeria, after the first recorded case of the disease in Suleja, Niger State, in July 2023.

Demonstrating its tenacious promise to safeguard the interests

of Nigerian farmers and fortifying agricultural resilience, Leadway Assurance is providing indispensable guidance and advice to mitigate the repercussions of this outbreak, with a paramount focus on ensuring the well-being of farmers, the safety of their livestock, and the nation’s food security.

Head of Agric at Leadway Assurance, Mr Ayoola Fatona said it has become necessary for farmers to take proactive measures to mitigate strategies in safeguarding livestock against anthrax.

Fatona shared pivotal recommendations aimed at minimising the transmission risk and alleviating

the adverse impact of the outbreak on the agricultural sector.

“In an agricultural sector already laden with multifaceted financial and environmental risk, the introduction of the anthrax infection into the bag of challenges has compounded the farmers’ woes. However, we understand that the implementation of vigilant risk mitigation strategies can significantly reduce the extent of losses facing these farmers. Foremost, the rigorous adherence to health management regimens, including tailored vaccination schedules to bolster animals’ resistance against anthrax, cannot be overstressed,” Fatona stated.

Linkage Assurance Offers Budget-friendly Motor Third Party Plus Variants Ebere Nwoji Underwriting firm, Linkage Assurance Plc has unveiled budget friendly motor third party plus variants to enhance customer experience.

The company said this Third Party Plus Variants provide policyholders with greater flexibility in choosing insurance coverage that suits their needs and risk tolerance.

Managing Director/CEO Linkage Assurance Plc Daniel Braie speaking at the unveiling ceremony at it’s corporate headquarters in Lagos, said the variants were budget-friendly plans designed with simplicity in mind.

According to him, these make

the insurance process straightforward and easy to understand, making it an appealing option for individuals who prefer uncomplicated insurance solutions.

The ‘Third Party Plus Motor Insurance Plan’ offered by Linkage Assurance Plc has value propositions for individuals looking for cost-effective coverage.

Braie said the primary value proposition of budget-friendly insurance plans was their affordability.

Braie said the Third Party Plus variants as budget-friendly plans might not offer extensive coverage options, however they provide essential coverage needed to comply with legal requirements and protect against third-party liability and own damage .

“The Third Party Plus fulfill these legal requirements, allowing individuals to drive with confidence while meeting their obligations. This can be particularly beneficial for those who primarily wants coverage for potential damages or injuries caused to others in accidents, “the CEO said.

Speaking on the cost management, he said for individuals on a tight budget, a budget-friendly insurance plan could help manage the costs associated with vehicle ownership.

“It provides a level of financial protection against unforeseen accidents without requiring a substantial financial commitment, “he added.

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

“Using the same unique qualities that catapulted Big Bull Rice in the Nigerian market to become Nigeria’s foremost homegrown parboiled rice, TGI Group is introducing Big Bull Gold, an absolute cooking delight with exceptional quality, making premium quality parboiled rice more accessible for all pocket sizes.

“Consumers are pleasantly delighted as Big Bull Gold recently showed up in the market in a Gold premium pack -- the colours of royalty making it the top choice for discerning consumers who seek premium rice

for their rice meals. Big Bull Gold offers great value in quality, taste, health, and affordability with a new look and feel that enhances its premium positioning, shelf presence and acceptance. Big Bull Gold is proudly cultivated and produced in state-of-the-art facilities with each grain of rice carefully cultivated and processed to deliver best-in-class cooking conditions for every rice meal, “TGI said in a statement.

Chief Marketing Officer, TGI Group, Probal Bhattacharya, stated that the introduction of Big Bull Gold in consumer-friendly packaging reflects how the company always strives to stay ahead of the curve and anticipate the changing needs of its valued consumers.

“We are delighted to introduce Big

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

Executive Director, TGI Group, Deepanjan Roy, added that the company has always prioritized quality and customer satisfaction.

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

R-L: Managing Director / CEO Nigerian Ports Authority (NPA), Mohammed Bello Koko, Ag. Comptroller General of the Nigeria Customs Service (NCS), Wale Adeniyi, during a curtsey visit to the NCS in Abuja…recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) July 2023

Money Supply (M3)

65,466,115

-- CBN Bills Held by Money Holding Sectors

442,402.18

Money Supply (M2)

64,926,250.75

-- Quasi Money

40,769,132.38

-- Narrow Money (M1)

24,157,118.36

---- Currency Outside Banks

2,209,000.87

---- Demand Deposits

21,948,117.49

Net Foreign Assets (NFA)

9,298,562.89

Net Domestic Assets(NDA)

5,6167,552.11

-- Net Domestic Credit (NDC)

86,466,629.28

---- Credit to Government (Net)

32,307,463.27

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,159,166.01

--Other Assets Net

13,165,380.65

Reserve Money (Base Money

17,376,486.41

--Currency in Circulation

2,595,761.69

--Banks Reserves --Special Intervention Reserves

14,780,724.72 405632.59

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2023

Inter-Bank Call Rate

15.80

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

18.75

Treasury Bill Rate

4.45

Savings Deposit Rate

5.24

1 Month Deposit Rate

7.11

3 Months Deposit Rate

7.62

6 Months Deposit Rate

8.25

12 Months Deposit Rate

7.81

Prime Lending rate

113.98

Maximum Lending Rate

27.38

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 25 AUGUST, 2023

The price of OPEC basket of thirteen crudes stood at $85.71 a barrel on Thursday, compared with $85.84 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 30, 2023

29

MARKET NEWS

Excitement in Stock Market as NGX ASI Hits 15-year High KayodeTokede The Nigerian capital market was euphoric at the close of trading yesterday as the stock market hit a 15-year high.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose by 0.51per cent to 66,490.34 basis points from 66,151.38 basis the previous day, surpassing the highest value of 66,371.20 recorded on the Exchange on March 5, 2008.

This performance was in part, attributed to a surge in banking stocks as investors strategically positioned themselves, taking advantage of the recent record earnings posted by banks. Consequently, market capitalisation increased by 0.51per cent to closed at N39.69 trillion from N36.21 trillion recorded the previous day.

This meant that investors gained N510 billion in two trading sessions. Among the

P R I C E S MAIN BOARD

various sectoral indices, the NGX Banking Index experienced the most significant daily gain, rising by 1.63%. Following closely were the NGX Consumer Goods Index, with a 0.99 per cent increase, and the NGX Industrial Index, which saw a 0.21 per cent uptick.

Conversely, the NGX Oil/Gas Index dipped by 0.09per cent, and the NGX Insurance Index recorded a substantial decline of 1.56 per cent, both attributable to

F O R

S E C U R I T I E S

DEALS

MARKET PRICE

QUANTITY TRADED

investors reallocating their funds.

An analysis of yesterday’s market activities revealed a substantial increase in trade turnover compared to the previous session, with transaction values surging by an impressive 79.18 per cent.

Consequently, the total volume of stocks traded reached 436.95 million units, valued at N7.02 billion, across 7,933 deals. This marked a significant uptick from

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

the 311.12 million units valued at N3.92 billion traded in 7,193 deals on Monday.

FBN Holdings topped the activity chart with 55.15 million units valued at N911.21 million.

Following closely was Japaul Gold with the sale of 33.11 million units worth N29.92 million, while UBA transacted 30.17 million units valued at N41.21 million.

Market breadth closed positive, with 35 stocks appreciating in

value while 32 stocks depreciated.

Champion Breweries and Flour Mills of Nigeria emerged the highest price gainer of 10 per cent each to close at N3.19 and N33.00 respectively, per share. NASCON Allied Industries followed with a gain of 9.96 per cent to close at N54.10, while NAHCO and Dangote Sugar Refinery advanced by 9.95 per cent each to close at N22.10 and N57.45 respectively, per share.

AU G U ST / 2 8 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

30

T H I S D AY ˾ ͱͮ˜ ͰͮͰͱ

FEATURES

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

Improving Cyber Security Posture of the Nigerian Navy To test the proficiency of personnel in various aspects of communication and Cyberdrills, the Nigerian Navy recently held the third annual inter-command competition. Beyond this, Chiemelie Ezeobi writes that the core derivative was geared towards developing the capacity of CIT personnel as well as re-invigorating standard communication procedures with a view to enhancing and sustaining professionalism

L-R: FOC WNC, Rear Admiral Mohammed Abdullahi flagging of the competition, flanked by Chief of Communication and Information Technology, Rear Admiral Olusanya Bankole (left) and Chief Staff Officer, Naval Training Command, Rear Admiral Dan Atakpa he Nigerian Navy recently held it third Annual Inter-Command Competition and Cyberdrills with the aim to help test and improve the proficiency of personnel in various aspects of communication and Cyberdrills.

T

Directorate of Information Technology.

"This development calls for more dedication to duty and commitment to service delivery as a Branch. As you all know, to who much is given, much is required."

Planned Drills This year’s completion featured two cyberdrills and a mini hackerthon aimed at preparing officers and men for cyber defence and consciousness of their environment. The Nigerian Army Signal Corps also participated in the competition.

"A total of 42 personnel consisting two officers from SLT – Lt and five ratings each from Petty Officer and below from the six commands are expected to participate in the competition.

The competitive events for the competition fell under the following broad categories: Visual Communication- Practical Semaphore, Flashing and Flag Hoist, Practical Voice Procedure, Practical Message Handling including message drafting, Practical Radio System Set up, General Communication Knowledge, Fleet Work and Cyberdrills.

Need for Effective Communication Also speaking at the opening ceremony, the Chief of Communication And Information Technology, Rear Admiral Olusanya Abiodun Bankole stressed the need for an effective communication in achieving successful operations.

Berating records of failed standards in communication with the agency which he traced to the attitude of operators and negligence to communication protocols, he further noted that the competition was to assess the proficiency of personnel and engender CIT Personnel capacity.

Aside from the fact that the competition would reinvigorate standard communication protocols, Bankole said it would also expose participants to latest trends in the cyber space, adding that "I have no doubt that this would provide a platform for all of us to interact and refresh our memories on foundations and rudiments of our communication profession. Communication is the fulcrum of any successful operation, like the saying goes “if you ain't got communication, you ain't got nothing.”

"Recently, naval headquarters has been inundated with reports of falling standards in naval communication, due largely to the attitudes of the operators and disregard to standard communication procedures. In a bid to correct these anomalies the idea to conduct an annual communication competition was mooted.

"The aim of the competition is to test the proficiency of personnel of the Branch in various aspects of

Commitment to Service Delivery At the event, which started from July 31st and ended August 4, 2023, the Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, said it was also a call for more dedication to duty and commitment and service delivery.

The CNS who was represented by the Flag Officer Commanding Western Naval, Rear Admiral Mohammed Abdullahi, said cyber attacks are fast becoming a major threat to military organisations globally and "in recent years, we have seen a number of high-profile cyber attacks against military organisations, including the NotPetya attack in 2017 that caused significant damage to the Ukrainian military.

"This Inter-command competition is an important opportunity for us to test our personnel in semaphore, flashing, voice communication as well as cyber security defenses and to learn how to respond to a real-world cyber attack.

"We will be simulating a variety of cyber attacks, including phishing attacks, malware attacks, and denial-of-service attacks. I want to emphasize that this is not a game but a serious exercise that needs to be taken seriously. Just as the saying goes "make hay while the sun shines".

The goal of this competition is to drill ourselves and improve our cyber security posture. This is aimed at improving our military cyber defence capabilities towards thwarting any cyber attack.

"At this juncture juncture, it is important to reiterate that the erstwhile DCIT has been upgraded to a full Branch with four Directorates which include; Directorate of Communications, Directorate of Cyber Security and Forensics, Directorate of Satellite Communications and

Senior officers and others from the ICT team of the Nigerian Navy communication and Cyberdrills. It is also to develop the capacity of CIT personnel as well as re-invigorate standard communication procedures with a view to enhancing and sustaining professionalism in CIT. "The competition will also feature Cyber drills as we all aware the cyber space is an important component on cyber warfare, cybersecurity, artificial-intelligent and other components in the cyber space".

"Let me state here that there is a lot at stake so all teams are to put in their very best. It is hoped that all the Commands have prepared their contestants accordingly for the above listed events. All necessary books, publications and flags required for the competition will be provided by the coordinating team," he said.

"I wish to acknowledge the support and contributions of the New Horizon and InfoPrive company for participating in this year’s competition. While thanking the officials for agreeing to take part in this competition I urge all to be fair. We hope to learn from this competition to improve on subsequent competitions. Finally, I wish to express the sincere appreciation of the Branch to the CNS for his continued support and for approving this competition. Onward together."

Pivotal Platform for Honing Military Preparedness At the closing ceremony, the CNS, who was represented by the Chief Staff Officer, Naval Training Command, Rear Admiral Dan Atakpa, commended the significance of the competition, characterising it as a pivotal platform for honing and enhancing the cyber security preparedness of the military.

Emphasising the importance of fortifying the military against cyber threats, particularly in leveraging cyberspace for both operational and administrative purposes within the Nigerian Navy, he highlighted that the competition effectively demonstrated the participants’ capabilities and dedication to safeguarding the military’s critical data and systems.

This, in turn, he said, contributes to the augmentation of individual skill sets, further solidifying the military’s resilience against cyber

In recent years, we have seen a number of high-profile cyber-attacks against organisations both military and civil.

This competition has given us the opportunity to drill ourselves and improve our cyber security posture and to make our military more resilient to cyber-attacks especially in the use of the cyberspace for operations and administration in the Nigerian Navy

attacks.

According to him, “I am particularly pleased with the events that took place during this period especially the introduction of cyberdrills and the hackathon. As you all know, cyber-attacks are growing threats to our military. In recent years, we have seen a number of high-profile cyber-attacks against organisations both military and civil.

“This competition has given us the opportunity to drill ourselves and improve our cyber security posture and to make our military more resilient to cyber-attacks especially in the use of the cyberspace for operations and administration in the Nigerian Navy.

"We have talented teams of cybersecurity professionals as was demonstrated during the hackathon exercise. This further shows our capacity and commitment to protecting our military’s data and systems by enhancing our individual skills.

“As we are aware, Communication is a critical and pivotal element in modern warfare and administration, be it on land, sea, air, space or cyber space. Effective and secure communication links have always been a fundamental requirement for navies, which modern fleets rely heavily on radio and satellite technologies.

"The increasing build-up of the network-centric environment in the military and capable networks for voice as well as data-transmissions is becoming even more important in military operations."

He further congratulated all participants and winning teams for their outstanding effort in the competition and encourage all participants to never relax their oars and take advantage of what was learnt.

Bolstering Navy's Strength, Resilience Also at the closing ceremony, Rear Admiral Bankole, who served as both the convener of the competition and the CCIT, highlighted that the event would contribute to bolstering the Navy’s strength and resilience, just as he emphasised its role in motivating officers to persist in their pursuit of training and personal growth.

“By testing our forces in these areas, we can identify any weaknesses and take steps to address them. I am confident that the lessons learned from this competition will make our forces stronger and more resilient.

“I want to encourage all the participants to continue training and developing themselves in these areas and also putting everything we have learnt into practice and especially to be more confident in the Nigerian Navy’s future.

I also want to encourage Commands to continue this trend by conducting Inter-Command competition to prepare their men suitable for this competition,” he added.

At the end of the competition, trophies were won and medals given to teams and individuals that distinguished themselves.

WEDNESDAY AUGUST 30, 2023 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY AUGUST 30, 2023

EDUCATION University Don Harps on Measures to Improve Nigeria’s Education Sector Blessing Ibunge ÓØ ÙÜÞ ËÜÍÙßÜÞ

A retiring lecturer with the department of Finance and Banking of Faculty of Management Sciences, University of Port Harcourt, Prof Prince Nwakanma, has urged the federal government to regard the universities as strategic assets to economic development of the nation.

Nwakanma said education should be seen as a wealth creation process, adding that if the people are educationally equipped by the government, the issue of threatening poverty and instability of the economy

will the tackled.

The university don made this assertion during his valedictory lecture held at the institution premises recently. He urged the federal to improve the education sector by tackling all the challenges bedeviling it, which he said has led to several strike actions by university managements across the country.

Speaking on the topic ‘Crises in Nigeria’s Federal Universities: Is Cash the Culprit’, Nwakanma said the perception of university degree and diplomas of other institutions of higher learning as a meal ticket and status symbol fuelled corruption in the country.

He observed that “the

attitude of seeing education as a mere commodity for consumption has persisted till date. What the society got was a crop of educated elites not so skilled in the practice of wealth creation. Consequently, they became victims of pseudo educated that viewed education strictly as a status symbol and a meal ticket.

“Rather than appreciate the virtues of education as an instrument for improving human functionings they saw it as something that had the potentials to make them rich.”

Nwakanma advised further that education should be seen as a wealth creating process

whereby the more people are equipped to create, the more the available resources will be expanded. He said the outcome will tackle the problem of funding education and reducing poverty.

He assured that when the economy “is prospering, and everybody is involved in the process of growing that prosperity, then the issue of growing poverty will now be something that can be dealt with,” adding that with this the number of persons living in abject poverty will keep on diminishing, because they will get involved in the creation of the food basket.”

Professor Prince Nwakanma

DLHS Chief Charges MHSIOBA Targets N250m for School’s Education Minister on Transformation, Plans Reunion Quality, Standardisation of Sector Uchechukwu Nnaike

The Administrator of the Deeper Life High School, Lagos Campus, Mr. Emmanuel Eze, has urged the Minister of Education, Prof. Tahir Mamman to pay attention to quality education in the country.

Eze, who said this while briefing journalists on Monday in Lagos, decried the erosion of standard affecting the sector.

This came few days after Mammam and the Minister of State for Education, Dr. Yusuf Sununu were inaugurated by President Bola Ahmed Tinubu.

Upon their assumption of office, Mammam solicited support from Nigerians to bring about the “desired change in the education sector.”

He said “if the education sector is fixed, every other thing will work perfectly in the country since the ministry is the foundation of all.”

While saying the expectations are huge for the sector, he noted that Tinubu was committed to turning the tide around.

Setting an agenda for the new ministers, Eze said they should look into improving the standard of education at all levels, and instill discipline and moral values in students.

He noted that many leaders were exposed to quality education when they were in schools, so they cannot afford to fail the coming generation.

While highlighting the feat DLHS achieved in the 2022-2023 academic session, Executed said

excellence is a culture at the school.

“By the grace of God, we have been able to attain this feat through rigorous hard work, discipline and God-factor.”

“We have a structured and unstructured way of ensuring that our students read and study on a regular basis.”

Apart from Miss Umeh Kamsiyochukwu Nkechinyere, who was the top scorer in the Unified Tertiary Matriculation Examination (UTME), 2023, he said some students of the school got eight As in their West African Examinations Council exams.

“We can confidently say in this school we have zero tolerance for malpractice. That means that all our students wrote their examinations without any aid, a common practice in many schools today.”

“I am happy to also inform you that 136 students participated in our valedictory service that was held earlier this month.”

On what is expected of today’s parents, Eze urged them to avoid the common temptation of lowering the standard of moral and virtues as far as education was concerned.

“Parents should cooperate with educators. They should partner with the educators and ensure that they do not lower the standard of quality education, morals, virtues and godliness.”

Methodist High School Ibadan Old Boys Association (MHSIOBA) has announced plans to raise N250 million for the construction and renovation of facilities at the school to restore it to its former glory.

The National President, Dr. Lekan Abioye, said this while briefing journalists ahead of the upcoming first-ever mega reunion of the association, scheduled for December 8-9 at Lead City Hall, Lead City University, Ibadan.

Abioye said the event is aimed at bringing back every old boy under one umbrella;

and to develop strong bonding, network and ultimately see how to give back to a school which made them who they are today.

He said the first day of the reunion will feature workshops and training at different facets mostly targeted towards empowering old boys.

“There will also be interactive sessions with some resource persons across varying disciplines- business, importation, real estate, buying and selling.

There will also be avenues to unwind as there will be a novelty match between our school and Bishop Phillips Academy,” stated Abioye. “We also hope to have the presence of some

government representatives on that day to spur us on. The second day which will be the grand finale is the mega reunion.”

He said the funds realised would be used to purchase a school van to convey students fro and to the school; to build and equip a standard science laboratory, to build a state-ofthe-art indoor and outdoor facility for various sporting games; complete the abandoned event hall so it can generate revenue for the school.

He said the old boys also intend to revisit the boarding school system by renovating any of the existing structures which

can be used to test-run between twenty to thirty students at a go; improve the aesthetics of the school premises through landscaping and planting of flowers; as well as to complete the perimeter fencing of the school which is already halfway.

Abioye, whose three-year second term will elapse in February 2024, said his administration executed a number of projects at the school.

He added that the mega reunion initiative is part of his administration’s desire to leave behind a very solid legacy upon which the incoming and subsequent administrations can consolidate.

MTN Foundation, EDC, Mastercard Train Female Entrepreneurs Funmi Ogundare

MTN Foundation has partnered Mastercard and Enterprise Development Centre (EDC), the entrepreneurship centre of the Pan Atlantic University to empower female entrepreneurs through its Y’ellopreneur initiative.

The training which has the objective of contributing to the reduction in women unemployment through investment in entrepreneurship to achieve a sustainable socio-economic development in Nigeria, is targeted at female entrepreneurs and business owners between 18 and 35 years.

Speaking at a media parley to unveil the sixth phase of the

ICT and business skills capacity building programme in Lagos , the Executive Secretary of MTN Foundation, Odunayo Sanya, expressed concern that women are confronted by deep-rooted obstacles which may prevent them from achieving their potentials at work and in other aspects of life, adding that their non-empowerment could be a threat to socio-economic development.

She listed some of the challenges facing women entrepreneurs to include; inadequate training, lack of access to capital for expansion and poor family support.

The training, Sanya stated, would be in the area of entrepreneurship skills to enhance

the entrepreneurial abilities of the female entrepreneurs who operates different trade sectors.

“The programme is also designed to involve webinar sessions, and marketplace event that will enable the trained female entrepreneurs to showcase their products for sales and business visibility opportunities. The design of the programme also involves business support, advisory and mentorship services for sustainability purposes,” she explained.

In an interview with journalists, a certified master trainer and entrepreneur, Mrs. Fayo Williams, described female entrepreneurs as special breeds of people who are intentional about

creating a future for themselves, their children and the society.

“The initiative will open up a vistas of opportunities for hitherto left behind women. They will be trained and have capacity building on how to prepare a growth plan, register their business and come out from the informal to formal sector.

Beyond that there will be network opportunities and other opportunities to access finance,” she said.

The director of EDC, Nneka Okekearu, explained that her organisation has been bridging the gap among female entrepreneurs and equipping them with knowledge to overcome gender biases which they tend to face.

Imaad Secondary School Student Emerges ‘Top in the World’ in IGSCE English Funmi Ogundare

A student of Imaad Secondary School, Lekki, Miss Maryam Remawa Bello, recently received the British Council recognition and Outstanding Cambridge Learner awards for emerging ‘Top in the World’ in IGSCE English as a second language.

The awards, held at Civic Centre, Victoria Island, Lagos, is a yearly event where outstanding students are

celebrated in various categories.

Bello who was full of excitement, recalled how she prepared for the October/ November 2022 examination series.

“Preparing for the IGCSE English exam was a challenging yet rewarding experience that tested both my knowledge and determination,” she told THISDAY. “As exam approached, I dedicated countless hours to studying past questions, honing my

writing skills, and practicing comprehension exercises.”

The syllabus, she added, covered an array of texts and topics, “and I tackled each one methodically, aiming to grasp not just the surface, but also the deeper meanings and nuances.”

Bello said she practiced writing essays, crafting compelling arguments and organising her thoughts effectively, adding that tackling comprehension exercises helped her improve

on critical reading skills and ability to extract key information from complex texts.

The ‘Top in the World’ scorer stated that when she finally sat for the exam, she had a mixed feeling of relief and anticipation, adding that when she got the results a few weeks after, she was overwhelmed with joy.

“The weeks that followed were marked by a sense of impatience as I awaited the results. The moment of truth

arrived when the results were announced, and my heart raced as I viewed the results,” stated Bello. “Seeing 100 percent under my name was an overwhelming feeling that words can hardly describe.”

She added, “It was a testament to the hours of hard work, perseverance, and determination that I had poured into my preparation.

The joy that accompanied this achievement was not only personal, but also a

recognition of the support from my teachers, family, and friends who had cheered me on throughout my journey.”

Bello explained that the experience “taught me that dedication, focus, and a passion for learning can truly lead to remarkable accomplishments.”

Bello described the IGCSE English exam preparation as not just about earning a high score; but about the growth she experienced as a learner and an individual.

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T H I S D AY ˾ WEDNESDAY AUGUST 30, 2023

PROPERTY & ENVIRONMENT Trudeau Charges World Leaders to Secure Better Future for Everyone, at Close of 7th GEF Assembly Bennett Oghifo As the seventh Assembly of the Global Environment Facility (7th GEF Assembly) came to a close at the weekend in Vancouver, Canada with the Canadian Prime Minister Justin Trudeau called on world leaders to make good their promise to secure a better future for everyone.

According to officials, the 7th GEF Assembly, which took place from August 22-26, was an event for a critical stocktaking for 2030 goals to end pollution and nature loss, combat climate change, and propel inclusive, locally-led conservation. This builds on recent diplomatic breakthroughs on biodiversity loss, toxic chemicals, and the high seas.

It included the launch of the Global Biodiversity Framework Fund, a new source of funding for protecting species and ecosystems globally. The GEF was selected to manage the new fund at the COP15 Convention on Biological Diversity summit in December 2022 and its governing Council approved plans for this in June 2023 in Brasilia.

It brought together ministers,

government officials, business leaders, environmentalists, leaders of international agencies and environmental conventions along with representatives of youth groups, civil society, and Indigenous Peoples to discuss solutions to ensure a healthy planet with healthy people.

Officials said the seventh GEF Assembly At the close of the final plenary, Canadian Prime Minister Justin Trudeau said: ”It is time to secure the promise of a better future for everyone; that is what we are doing here together.”

Recent wildfires in Canada and other intense, extreme events around the globe, he said, have been driven by climate change and nature loss.

Trudeau rejected the proposition that we must choose between improving quality of life and protecting nature, saying one helps us achieve the other. He also hailed the creation of the Global Biodiversity Framework Fund (GBFF) and noted Canada’s initial contribution of CAD 200 million.

In the final plenary on Inclusive and Transformative Governance, Sonia Guajajara,

Minister of Indigenous Peoples, Brazil, underscored that “solidarity is a value that needs to grow even more in international relations.” She also noted that the greatest expenses come from the impacts of climate change and not from the measures to avoid them.

In reference to the GBFF, she called for shared governance mechanisms that include recipient countries.

During the day, six more roundtables were also held, including on: promoting an Integrated Approach Towards Food Systems Transformation; the GEF’s Future with New Agreements and Emerging Themes; and Catalyzing Climate Resilience and Adapting to New Realities.

During the closing plenary, recommendations emerging from all roundtables held on Thursday and Friday were summarized for participants.

Delegates also considered several administrative matters, including: amendments to the Instrument for Establishment of a Restructured GEF; Statement by the GEF Independent Evaluation Office; Statement by the GEF

Scientific and Technical Advisory Panel; the report on the Eighth Replenishment of the GEF Trust Fund; and the report on the GEF Trust Fund.

During the closing, GEF CEO and Chairperson Rodríguez announced the retirement of William Ehlers, Council Secretary, expressing warm gratitude to

his “close colleague and friend” for his 18 years of dedicated service.

In the evening, Assembly participants celebrated the successes of the week with a Special Art and Immersive Music Performance by Costa Rican Artist Carlos Hiller.

The Assembly featured

high-level sessions, roundtables, side events, workshops, and networking opportunities for participants of all ages and backgrounds. Delegates also had an opportunity to visit environmental projects in the Vancouver area. The meeting was supported by a wide range of Canadian partners.

L-R: Managing Director, EXIMIA Realty Company Ltd, Fred Akhigbe; Guest Speaker and CEO, Hervest Ltd., Mrs Solape Akinpelu; Founder, EXIMIA Realty, Hakeem Ogunniran; Social Media Manager, Eximia Realty, Omowunmi Adesoye; CEO, Midcity Associates Ltd, and Keynote Speaker, Dr Joe Dada; and Head, Business Development, Eximia Realty, Adetunji Adegbite, at EXIMIA Realty Co Ltd, Management Retreat with the theme: “Going Far and Fast in a Depressed Economy”at Metropolitan Club, Victoria Island, Lagos... recently

BCPG Cautions Sanwo-Olu on Certified Accreditor Programme Bennett Oghifo The Lagos State chapter of the Building Collapse Prevention Guild (BCPG), a national non governmental organisation, has cautioned Governor Babajide Sanwo-Olu on the implementation of the Certified Accreditor Programme (CAP) that was introduced by his administration in order to curb the incessant collapse of buildings in the state.

They stated this in a letter to Sanwo-Olu that was signed by the Chairman, Building Collapse Prevention Guild, Lagos State Chapter, Tpl. Joseph Akande, and the General Secretary, Bldr.

Mubarak Gbaja-Biamila. The letter is titled: “Building Collapse Prevention: Scramble For Certified Accreditor Job - Need For Caution.”

The essence of the CAP,

which they said is commendable, is to incorporate building professionals from the private sector into the building plan approval process, monitoring and certification of building construction projects and verification of structural integrity of buildings.

The BCPG said, “the modus operandi requires the formation of consortia by building professionals of diverse fields of specialisation. It entails payment of yearly registration fee that ranges from N200,000 to N500,000 by each participant and an annual professional indemnity insurance of N2,500,000.

The remuneration for CAP participants are to be sourced by the government from developers and homeowners. Is CAP the panacea for building collapse?”

Also, the Guild said the

programme mirrors its activities, even though voluntary, stating that “It is interesting that the Lagos State Ministry of Physical Planning and Urban Development (MPP&UD) is adopting the BCPG model of private sector participation in cell/ team formations. However, the motive behind the scramble for a risky indemnifying job has to be unearthed towards prescribing necessary antidotes.

“The excitement out there is giving an impression that CAP is an invitation to come and eat. Those professionals whose professions are not listed in the programme seem to nurse reservations of being sidelined from potential incentives/benefits/palliatives.

Favouritism and marginalisation are being alleged among those whose professions appear in the

lower cadre/category on the list.

There is an undercurrent that those who conceived the idea of CAP skewed the programme to favour their profession. This rumour is capable of causing disunity among professionals in the built environment.

Professional segregation and unhealthy strife for supremacy.

It all portends a struggle for survival without paying due attention to the risk aspect of CAP. “Over this scramble, past experience now arouses our suspicions that there could be a hidden motive than the incentives to be provided by the government.

“Going back in time, the Ministry of Physical Planning and Urban Development was divided into three agencies by URPD Law (Lagos State Physical

Planning, Urban Development, Urban Regeneration and Building Control Law) in 2010 during the tenure of Governor Babatunde Raji-Fashola. Fortunately, you were the Vice Chairman of the Technical Committee that prepared the 2010 URPD Law. “One of the salient reasons for this separation was to institute checks and balances mechanism that would ensure that building plans approved by the Lagos State Planning Permit Authority (LASPPA) are complied with on sites through the monitoring exercise of the Lagos State Building Control Agency (LASBCA).

“Having discovered by the Gen. Tunde Reis-led Technical Committee that prepared the 2010 URPD Law that Lagos State had about 48,000 building sites while the *monitoring staff* of

the MPP&UD was less than 300, the Building Collapse Prevention Guild (BCPG) was established in 2011 to assist the system.

“The BCPG structure covered all the local governments in Lagos State in Cells’ formation. Each cell was composed by members of the 7-built environment professional bodies, residing or working in that locality. BCPG members were majorly Architects, Builders, Engineers, Estate Surveyors & Valuers, (Land) Surveyors, Quantity Surveyors and Town Planners. The ubiquitousness of BCPG members was aimed at supporting the low staff strength of the government *pro bono* by bringing to the notice of government officials substandard building construction works and distressed buildings within the cells.

Lafarge Africa Installs Filter to Curb Emissions, Restates Commitment to Environmental Sustainability Bennett Oghifo Lafarge Africa Plc., has invested significant resources, about 7.5mCHF to reduce the environmental impact of its operations to the barest minimum by adopting stateof-the-art technology whilst prioritising the health and safety of its people and host communities.

The company said this in a statement where it restated its commitment to the promotion of environmentally sustainable operations across its operations.

“Lafarge Africa sets high standards for health, safety and the environment (HSE). The company’s goal is to conduct its business with zero harm to people while minimizing its

environmental footprint. To achieve this, it has completed the installation of a new bag filter technology at its Ewekoro plant - which is a key milestone in the Company’s compliance to Nigerian Regulatory Standards and in line with its sustainability strategy,” the company said in the statement.

Head of Health, Safety and Environment, Lafarge Africa Plc., Rachael Ezembakwe said, “We continuously upgrade our operating models and strategy through extensive investments in research and innovation. In order to comply with global standards and contribute to building a safer planet, we successfully replaced our dust emission control device in our Ewekoro Plant I, from the Electrostatic Precipitator (ESP)

to a more modern and effective system, the ‘Bag House’ dust collection system.”

To mitigate dust emissions from other sources, such as from roads surrounding its plants, Lafarge has instituted measures to consistently reduce fugitive emissions in all its plants, preserve the local environment and minimize the impact on the neighbouring/host communities.

The company also conducts air quality measurement of its plant up to 10 km radius to assure conformance to acceptable limits.

“We are fully aware of the environmental impact of our operations, particularly on our host communities. As such, we carried out a comprehensive social impact assessment in our Ewekoro plant in the year 2020,

resulting in a robust action plan to reduce dust emission. The implementation of the action plan involved changing the Electrostatic Precipitator (ESP) used at the Plant to a bag house filter, in addition to other significant adjustments to our production activities, over a period of six (6) months. A robust maintenance system was also put in place for the dust control equipment at the Plant.”

Ezembakwe said: “The dust emissions at our Ewekoro Plant have since remained below the regulatory limit of 50mg/ Nm3. The emission levels are also monitored real time to ensure that it remains within acceptable limits, and validated by the National Environmental standard and Regulations

Agency (NESREA) during its periodic monitoring inspection of our Ewekoro Plant. Quarterly monitoring exercise by government accredited agencies are also conducted at the Plant, and the reports of the inspection are submitted to our regulators.

She noted that Lafarge Africa maintains a good relationship with its host communities, and as part of its corporate social responsibility, the building solutions company has continued to live up to its billing of improving the living standard of its host communities in Ewekoro and Sagamu in Ogun State with the provision of basic business & vocational skills, start-up kits, education grants, community projects, agricultural funds, healthcare and education

facilities, among others, on a yearly basis.

To reiterate Lafarge Africa’s commitment to the health of its host communities, Lafarge provides annual medical examination and treatment, including medications, medicated glasses, wheelchair etc. to support the health of community members.

“As a member of the Holcim – the leading global construction materials and solutions company in the world, care for the environment and for our host communities is built into all aspects of our operations within the country. Our social impact is focused on the areas of the most needs: Education, Empowerment, Health and Safety and Shelter/infrastructure,” she said.

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NEWS

2023 DIGIVATION FUTURE SUMMIT AND AWARDS...

L-R: Lecturer, University of Lagos, Dr. Roselyn Isimeto; President Digivation Global Network, Bayero Agabi; Director, Public Affairs, Nigerian Communications Commission (NCC), Reuben Muoka; Secretary General, Internet Society - Nigeria, Adebunmi Akinbo and Chief Executive Officer, Mixfits, Oladipo Grey at the 2023 Digivation Future Summit and Awards where the Commission was conferred with the 'Outstanding Digital Inclusion Enabler Award' in Lagos ... recently

Peter Obi: I Never Sponsored Funeral of Rufai Oseni’s Father Insists it's categorical lie from pit of hell

The presidential candidate of the Labour Party in the 2023 election, Mr. Peter Obi, has refuted the allegation by Reno Omokri, that he bankrolled the burial of the father of one of the hosts of ‘The Morning Show’ on ARISE News Channel,

Rufai Oseni.

Omokri had on August 25, alleged that Obi sponsored Oseni’s father’s funeral, an allegation he has sustained.

Reacting to the allegation, Obi wrote on X, “There is a recent

case where my name has been mentioned in a malicious and cheap blackmail against one of Nigeria’s best Television presenters, Mr. Rufai Oseni, who has stood sternly for what is right and has challenged me fearlessly on some occasions

while speaking truth to power. I have recently been mentioned to have bribed Mr. Rufai Oseni by financially sponsoring the burial of his father.

“Ordinarily, I do not get involved in name-calling and mud-slinging,

South-east Scholars Demand Unified Policy on Igbo Language Studies in Region Emmanuel Addeh in Abuja Igbo intellectuals have called on the governors of the South-east region to collaborate in creating a unified policy that mandates a credit pass in Igbo language as a core prerequisite for entrance into any tertiary institution within the region.

The scholars who spoke during an international conference on "Reimagining Igbo Studies in the 21st Century in Nigeria", noted that the policy would not only elevate the status of Igbo language but also reinforce its importance in the region's educational landscape.

The event brought together scholars, researchers, and experts from across the globe to engage in exchange of ideas, insights, and perspectives on the future of Igbo studies in the evolving landscape of Nigeria.

A communiqué released after the event, noted that the Director of the Centre for Igbo Studies (CIS), University of Nigeria, Nsukka, and convener of the event, Prof Chris Agbedo, spoke pointedly to the frightful prospects of language endangerment facing the Igbo language.

The communiqué was signed by Dr. Ifeoma Nweze, Dr. Ahamefula Ndubuisi and Dr. Daniel Abonyi.

To this end, the director called on the authorities of UNN, as well as the South-east governors and members of the regional leadership, socio-cultural organisations such as Ohanaeze Ndigbo Worldwide, Council of Igbo States in Americas (CISA), Igbo World Assembly (IWA), and civil society to take practical steps to address the challenges.

He also recommended the inclusion of Igbo in General Studies Programme (GST) which will expose students from various disciplines to the beauty and significance of the Igbo language and traditions.

“This calls upon the governors of the Southeast region to collaborate in creating a unified policy that mandates a credit pass in Igbo language as a core prerequisite for entrance into any tertiary institution within the region.

“This policy would not only elevate the status of Igbo language but also reinforce its importance in the region's educational landscape,” he said.

To incentivise students to take up Igbo as a course, Agbedo proposed the establishment of a scholarship scheme for students who choose to study Igbo at any tertiary institution.

Additionally, he recommended that a promise of automatic employment upon graduation should be extended to students who excel in their Igbo studies.

“This measure would not only motivate students to engage with the language but also create a skilled workforce dedicated to preserving and promoting Igbo heritage. “ These recommendations are not only crucial steps toward preserving the Igbo language and cultural heritage but also serve as a testament to the commitment of the academic community, regional authorities, and society at large to safeguarding the essence of Igbo identity,” he added.

The Vice Chancellor, Prof Charles Igwe, assured that the institution would continue to work for the promotion of Igbo language and promised that his administration will

always give the centre the necessary support to carry out its functions in preserving the Igbo language and cultural heritage.

The Chairman, CISA Board, Dr Nwachukwu Anakwenze, who chaired the occasion, praised the University and CIS for their efforts in ensuring that Igbo studies and cultural practices were sustained.

He noted that over 40 million black are of Igbo origin, adding that an appreciable number of them are willing to learn the Igbo language as well as reconnect with their living relatives in Nigeria and Diaspora.

In a keynote presentation, entitled “Where are we now,” which was delivered by Prof Gabriella

Nwaozuzu, she interrogated the relevance of the Igbo’s ‘be your brother’s keeper’ philosophy in contemporary times, unlike the typical pre-civil war Igbo society when the philosophy was the bedrock on which Igbo progress, cohesion, love, and peace rested.

Others who spoke glowingly in support of the innovative step taken by the CIS to reposition Igbo studies included the President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, represented by the Publicity Secretary, Dr. Alex Ogbonnia, the Deputy Vice Chancellor (Administration), Abia State University Uturu, Prof Ogbonna Onuoha, among others.

neither do I attack people nor try to defame their personalities, in the course of my political journey.

“I have also avoided replying to cheap, wicked, or malicious blackmails publicly or openly in the same irresponsible manner they are thrown at me. Anyone who has followed my corporate and political life knows that I always stay on issues, with my focus on finding solutions to societal challenges and ameliorating people’s suffering.”

The former Anambra State governor said he needed to clarify issues especially when a third party was involved and “where my name was mentioned in malicious and cheap blackmail against one of Nigeria’s best Television presenters, Mr. Rufai Oseni, who has stood sternly for what is right and has challenged me fearlessly on some occasions while speaking truth to power.

“Let me state clearly that this is a categorical lie from the pit of hell. Everyone who understands my life will attest to the fact that I do not give anyone money to promote my name. I have never monetarily induced any journalist to speak or write in my favour.”

Obi said he, “always honours invitations to social events like birthday celebrations or funerals,

and this is something people have come to know that I do regularly.

“Countless journalists, media personnel, the less privileged, the wealthy, etc., have all invited me to their occasions, and they will attest to the fact that I honour such invitations, especially when people are grieving. As it is obtainable in Igbo tradition, I always attend such events with some gifts, to support the celebrant.

“I have never been to Rufai’s village. Even at the point of writing this, I do not know where he is from. One then wonders why people could decide to tarnish other people’s image for no justifiable reason. To those involved in such evil endeavours, I wish them well and pray to God to have mercy on them.

“Finally, our focus in Nigeria should be about rescuing the nation from the many challenges plaguing it. We should focus more on lifting people out of poverty.

“Millions of Nigerians do not know where their next meal will come from. We have millions of unemployed youths in their productive age. Finding solutions to these challenges should command our attention, for the progress of our nation – and that is what I remain committed to.”

More Flooding Expected across Nigeria in 2023, NIHSA Warns Folalumi Alaran in Abuja The Nigeria Hydrological Services Agency (NIHSA) has issued serious warning about the likelihood of more flooding across the country in 2023.

The agency's prediction indicated that 178 Local Government Areas (LGAs) in 32 states and the Federal Capital Territory (FCT) were in high danger of severe flooding.

During a press briefing held yesterday, in Abuja, NIHSA's Director General/CEO, Engr. Clement Nze, stressed the significance of early action to mitigate the impacts of the anticipated flooding.

The organisation recalled that

when it released the 2023 Annual Flood Outlook (2023 AFO) report in February, regions at high, moderate, and low risk of flooding were identified.

The report revealed that several coastal states, including Bayelsa, Cross River, Delta, Edo, Lagos, Ogun, Ondo, and Rivers, were particularly susceptible to coastal flooding.

In addition, major cities such as Abuja, Lagos, Ibadan, and Port Harcourt were expected to experience flash and urban floods.

Nze explained that, “By April of this year, numerous states had already reported flooding incidents,

causing casualties, loss of life, and the submergence of homes.

“Over 50 LGAs in at least 20 states, including Adamawa, Delta, Imo, Lagos, and Rivers, have already encountered varying degrees of flooding.”

Nze, noted that the situation was further complicated by the water releases from the Cameroonian Lagdo Dam. According to him, the dam began releasing water on August 14, 2023, at a rate of 200 cubic meters per second.

He explained that although the rate has since been reduced to 50 cubic meters per second, the agency

remains on high alert as the rainy season continues.

NIHSA provided additional insights into the River Benue and River Niger systems, stating that water levels and flow patterns were being closely monitored.

The agency emphasised the need for preparedness, especially in regions prone to flooding.

Nze urged state governments, citizens and all disaster response and reduction agencies to take immediate action.

He emphasised that timely preparedness and mitigation measures were key to minimising the impact of the anticipated flooding.

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NEWS

LAFARGE CEO'S VISIT TO GOMBE STATE GOVERNOR...

L-R: Group Managing Director/CEO, Lafarge Africa Plc, Lolu Alade-Akinyemi; Executive Governor of Gombe State, Muhammad Inuwa Yahiya; and Managing Director, AshakaCem, a subsidiary of Lafarge Africa Plc, Ibrahim Aminu during the courtesy visit to the Governor by the Executive Management of Lafarge Africa Plc, at the Government House, Gombe …on Monday

My Administration Augments Federal Allocations to Ogun LGs, Says Abiodun James Sowole in Abeokuta Ogun State Government, yesterday, said the Dapo Abiodun-led administration often had to augment the funds allocated to local governments in the state from the Federation Account to enable them to meet their obligations.

The government, in its reaction to a letter credited to the Chairman of Ijebu East Local Government, Mr. Wale Adedayo, alleging zero revenue allocation to local governments in the state since 2021, said it had never tampered with local government funds.

It wondered how adding to the funds allocated to the local councils to enable them meet their obligations amounted to hijacking their funds.

It said funds meant for local governments in the state were being handled by the constitutionally recognised Joint Account and Allocation Committee (JAAC).

In a statement signed by the Chief Press Secretary (CPS) to the state governor, Mr. Lekan Adeniran, the government said JAAC members ensure that the

third tier of government gets the required allocations for optimal performance.

It noted that the latest meeting by the JAAC was held last week, and was widely reported in the media.

At the meeting, which was held at the Conference Hall, Oba’s Complex, Oke-Mosan, Abeokuta, over N5 billion was shared among the 20 local government areas, out of which over N2 billion went into paying teachers.

It stated, "Between May 2023 when the Governor was sworn in for the second term and July 2023, the JAAC shared among 20 local governments N4.531 billion, N4.444 billion and N4.497 billion respectively on first line charges and just last week N5.2b was shared among the local governments for the month of August."

The JAAC, according to the statement, comprises major stakeholders in local government administration, including the Chief Economic Adviser to the governor, Commissioner for Local Government and Chieftaincy

Affairs, Accountant General of the State, Permanent Secretary, Local Government and Chieftaincy Affairs, all 20 local government chairmen, one representative from each of the four Traditional Councils in the state, representative of SUBEB, NULGE, local govt pensioners, retired primary school teachers, Local Government Service Commission, Local Government Pension Commission and NUT.

both the bar and the bench to opprobrium.”

He said in a Court of Appeal judgments with numbers CA/ OW/CS/200/2023 and CA/ OW/CS/201/2023, to wit: Sir Basil Maduka v Labour Party & 2 Ors and Labour Party v Sir Basil Maduka & 2 Ors, respectively, Mr. Monday Mawah, a legal Practitioner, went on air on television programme and "falsely, maliciously and with intent to deceive, confirmed to the whole world that the decision of the Court of Appeal in the 2 appeals was that the purported Lamidi Apapa-led faction of the Labour Party was declared as the authentic leadership of the Labour Party and that the Court had ordered that the names of candidates that emerged as winners in the purported primary election conducted by the Lamidi Apapa-

It has the mandate to meet every month to ensure that allocations to local governments are discussed and properly presented for fund allocation.

At such meetings, the state government makes full disclosure of the receipt from the federation account.

First-line charges, including local government staff salaries and pensions; primary school teachers'

salaries and pensions; healthcare workers' salaries and pensions and emoluments for traditional rulers are tabled for discussion and fund allocation at the JAAC meetings, the statement said.

The statement added that this same pattern had been followed since Abiodun took over the leadership of the state in 2019.

Abiodun, the statement stated, recently directed the local govern-

ments to identify critical roads that required government attention in their domains, with some already commissioned.

In the same vein, many schools have been rehabilitated, while others were undergoing renovation.

"In addition to these, the state government also disburse funds to all local governments for developmental projects periodically," the statement added.

NURTW Decries Alleged Police Invasion of Secretariat Folalumi Alaran in Abuja The National Union of Road Transport Workers (NURTW), has joined hands with the Nigeria Labour Congress (NLC) to condemn the recent actions of the Inspector General of Police (IGP) Egbetokun, who allegedly ordered his men to invade their secretariat.

The NURTW, which expressed deep concern over the invasion of its national secretariat, however, called it a threat to democracy and

industrial harmony in Nigeria.

Earlier yesterday, a concerning series of events unfolded as a large contingent of policemen, allegedly stormed the NURTW National Headquarters in Abuja.

The purpose, according to NURTW, was to undermine the democratically elected leadership of the Union led by Comrade Baruwa and replace it with a puppet leadership from Lagos State.

The NURTW emphasised that the government's interference

in the affairs of a Trade Union violated democratic principles and legal processes, setting a worrying precedent.

This move, they claimed, not only contradicted the constitutionally established methods for addressing industrial disputes but also portrayed the Nigeria Police Force as undermining the very laws it is meant to uphold.

The Union questioned the

faction be forwarded to INEC to be imputed as the Candidates of the Labour Party for the 2023 Gubernatorial elections fixed for later in the year."

Ifo further said Mawah falsely stated in the interview that the Court of Appeal had upheld the decision of the trial court, which the court never did.

"This utter falsehood as openly stated on live television by Monday Mawah was contrary to the decisions of the Honourable Court in its judgments in the appeals.

In the Basil Maduka’s appeal, the Court of Appeal sitting in Abuja dismissed the appeal simplicita and held that the Appellant had no locus standi to institute the proceedings.

"In the Labour Party’s appeal, the court held that the appeal was not necessary as the decision of the trial court was in its favour

and that the mere comments of the trial judge in its judgement did not consist an appealable decision and should be discountenanced.

"In none of the 2 appeals did the Honourable Court proclaim the Orders that the said Mr. Monday Mawa had gone to town with and had impetuously proclaimed on live television to the whole world."

In view of this, the Labour party prayed "the Committee to immediately commence the process of disciplining Mr. Monday Mawah for infamous conduct infringing on the provisions of the Rules of Professional Conduct, to wit; Part V(Relations with Court) and Part IV (Improper attraction of business), especially Rules 31( Duty of lawyer to court and conduct in court); 32 (candid and fair dealing), 33 (trial publicity), 39 (Advertising and soliciting) and 47 (Instigating controversy and litigation)"

Sylvester Idowu in Warri

legitimacy of IGP's authority to intervene in trade union matters and urged the government to uphold democratic values.

The NURTW also called for the immediate withdrawal of police operatives and associated individuals from their National Secretariat, asserting that the Union was not a bargaining chip to be handed over as compensation.

Police Stall Gay Wedding Ceremony Abure Petitions against Lawyer for False Interpretation of Judgement in Delta, Arrest Couple, Guests Chuks Okocha in Abuja

The Labour Party has dragged a legal practitioner, Monday Mawah, to the Legal Practitioners Disciplinary Committee for alleged malicious damage of the party's image through spreading falsehood, using various mass media forum.

In a petition signed by the National Publicity Secretary of the Labour Party, Obiora Ifo to the Chairman, Legal Practitioners Disciplinary Committee, the party alleged that Mawah falsely manipulated the judgment of the Court of Appeal by spreading false informal through the mass media.

The spokesman of Labour party said, "The party was surprised and taken aback that a member of the revered legal profession has thrown caution to the winds and has embarked on a voyage to spread false news to bring

Detectives from Ekpan Police Division in Uvwie local government area of Delta State have arrested suspected a gay couple and their guests during a gay wedding ceremony.

The detectives, backed by several operations units, stormed a popular hotel (Name withheld) along Commissioner road, Off Refinery road, Ekpan, last weekend where the wedding was holding.

It was gathered that no fewer than 100 guests were in attendance to celebrate the ceremony at the time of Police invasion of the venue.

Over a 100 suspects were nabbed in the raid, but after profiling and preliminary interrogations, about 40 persons were released while others including the gay couple were detained.

"I can tell you authoritatively that

some powerful individuals have been mounting pressure on the police to release the suspects, but the authorities insist on prosecution of the suspects to face the wrath of the anti-gay law.

"Some rights activists suspected to be members of the gay community are also intensifying the pressure on the police to free the suspects but the police have vowed to prosecute the suspects to serve as a deterrent to others," the source said It was learnt that the owner of the hotel who gave out the reception hall was on the run but some hotel staff were arrested.

Meanwhile, Delta State Police Public Relations Officer, Edafe Bright, a Deputy Superintendent of Police (DSP), paraded yesterday, at Ekpan Divisional Police headquarters in Uvwie local government area ahead of their arraignment in court.

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APC WOMEN LEADERS VISIT GANDUJE...

L-R: Deputy National Coordinator, Progressive Sisters Network (PSN), Hajiya Samira Saddieq-Dibal; National Coordinator PSN, Rinsola Abiola; National Chairman, All Progressives Congress (APC) Dr. Abdullahi Umar Ganduje and APC National Woman Leader Dr. Mary Alile-Idile, during a congratulatory visit by the PSN Leaders to the National Chairman at the party's Secretariat in Abuja ... yesterday PHOTO: ENOCK REUBEN

Bago Confirms Talks with Bandits to Drop Arms Olawale Ajimotokan in Abuja Niger State Governor, Abubakar Umar Bago, has disclosed that an Olive Branch has been extended to the bandits terrorising the state to drop their arms in exchange for

amnesty.

He made the disclosure yesterday when he led some members of the state executive committee on a courtesy visit to the Minister of Information and National Orientation, Mohammed Idris

on his appointment as minister.

"We gave extended olive branch to bandits to drop their arms for amnesty and we are discussing with them to see how we can solve the problem amicably. We are discussing with them not negotiation, talking

to them to come out, drop their arms and enter the society. It is a clarion call," Bago said.

He said he led the delegation to the minister because the later came from Niger State.

He also appealed to the minister

Minister Charges Trust Fund to Equip Police to Tackle Terrorists, Kidnappers Lays emphasis on foreign, local training FCT command clamps down on vehicles with foreign number plates Kingsley Nwezeh in Abuja Minister of Police Affairs, Ibrahim Geidam, yesterday, charged the Nigerian Police Trust Fund (NPTF) to equip the Nigeria Police with local, foreign and sophisticated professional training to enable it tackle terrorists, kidnappers and other high crimes in the country.

The charge came as the Federal Capital Territory Police Command said it had commenced a clampdown on vehicles with foreign plate numbers which presence in the nation's capital had caused apprehension and raised fears of a terror plot.

A statement issued by the command said it was committed to improving the overall security of the territory and protection of lives and property of residents.

The minister gave the charge during the official briefing of the two ministers in the ministry on the activities of the Nigeria Police Trust Fund (NPTF) by the Executive Secretary of the fund in Abuja.

Reacting to funding issues on the professional training for police personnel outside the country, he urged NPTF to ensure that the process of training officers was strictly managed within the available funds rather than jettison necessary training for police personnel.

“Instead of waiting to send 20 personnel abroad, you can send 10 that can be accommodated within available funds rather than jettison crucial professional training abroad that will impact their output to the nation.

“The executive secretary and his

team should come up with a strategic plan on sending personnel on training outside the country while continuing to patronise local training available in the country.

"We need to send some of our personnel outside Nigeria to get highly sophisticated training that would enable them to tackle crimes in the country,” he said.

The minister recalled the problem of Boko Haram that started in Borno State in 2009 before it spread to Yobe State in 2011, when he was the governor, noting that it was not easy then despite the collaboration of both policemen and the military and the need for well-trained personnel that would deal decisively with terrorists and kidnappers.

Speaking, too, the Minister of State

for Police Affairs, Imaan SulaimaIbrahim, stated that in perfecting statecraft international norms and best practices would be deployed in training and retraining operations, standardised infrastructure, updated work tools to strengthen the professionalism of security personnel.

“It has to be standardised and tailored towards what will work for the police ecosystem and our population. It should not be about procurement alone but strategy planning that will focus on professionalism, patriotism, and transparency because our sector is one of the priority plans of Mr. President and it is critical to the national security of the country,” he said.

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to help in projecting Niger State to the world and investors as the largest state in Nigeria.

Idris, in his remarks, said President Bola Tinubu was deeply concerned about the state of insecurity in Niger State and was working round the clock to ensure that peace returns to the state.

"Government is working and some of these things are not for public consumption, some of the things that the security agencies are doing are not what I will come out and talk before the cameras.

“However, what l can tell you is that Mr President is deeply concerned and is working around the clock to ensure that peace returns to Niger, and he will leave no stone unturned in ensuring that it happens.

"Niger State has 8.6 million hectares of land with 6000sq km of arable land, four hydropower

dams, we are 10 per cent of the total size of Nigeria. So, we are poised and positioned for agriculture in terms of animal husbandry, crop production, aquaculture and other ways of food security.

"He also is desirous of changing the face of Nigeria and ensuring that the economic turn around of the country is achieved within the shortest possible time.

"We know that the times are hard.

Mr President has acknowledged that. He has said he is aware that Nigerians are experiencing hardship arising from the removal of fuel subsidy and the downturn of the economy.

"You will agree with me that the fuel subsidy that was removed was actually in the best interest of Nigerians. He has said repeatedly that Nigerians would feel the pains from the subsidy removal before experiencing the gain," Idris said.

Guber Polls: APC Disowns Trending Campaign Councils Adedayo Akinwale in Abuja The All Progressives Congress (APC), has called on the public to disregard the purported campaign lists for the November 11 governorship polls in Imo, Kogi and Bayelsa states.

National Publicity Secretary of the party, Felix Morka, in a statement, yesterday,said the lists released were

not an official document from the party.

"The attention of the All Progressives Congress (APC) has been drawn to National Campaign Council Lists for the 11th November, 2023 Governorship Elections in Bayelsa, Kogi and Imo States in circulation in sections of the media. The lists are not official documents of the Party and should be disregarded," he said.

LAGOS, ENUGU GOVS JOSTLE FOR INVESTORS AT LCCI’S INVEST NIGERIA EXPO 2023

Bishop Adeoye to Tinubu: It’s Been Three and Economic Growth Stakeholder World Bank Group, the African identifying partnership opportuni- Sector-Based Productivity Growth Development Bank Group, the ties for project preparation and co Agenda with a credible pipeline Roundtable. of projects that will advance The governor is also scheduled to International Finance Corporation, investments” he stated.

Months of Extreme Hardship for Nigerians launch According to Onyia, this was in transformative change in key the Enugu State Integrated the African Export-Import Bank, Yinka Kolawole in Osogbo As President Bola Tinubu marks his three months in office, a right activist and cleric has described the time the president has spent so far, “as months of extreme hardship and untold sufferings for majority of Nigerians.”

Bishop Seun Adeoye, who is the Presiding Prelate of Sufficient Grace and Truth Ministries (SGTM) and the spokesman of World Bishops’ Council (WBC), Africa, in a statement released in Osogbo, Osun State capital, expressed his displeasure over the current situation in the country.

The Pentecostal Bishop noted that Nigerians were facing untold hardship and the sad situation was fast becoming unbearable for the citizens.

“Today, 29th of August marks three months of Tinubu’s government. But within these three months, businesses are collapsing, people are becoming jobless, hunger now pervades the land and many who appear to be alive are just walking corpses.

“Let the truth be told, this ‘ground’ is not ‘running’ Mr. President. It has been three months of extreme hardship and suffering for Nigerians. And it is virtually becoming unbearable.

“You and your family are up there in a secured Aso Rock. Those who surrounded you are big men.

They can’t feel the pains the way we the people do. ‘Igboro o rerin Sir’. I mean people are not happy at all. We cannot pretend that there is sadness everywhere.

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Sector-Based Productivity Growth Strategy.

This was made known in a statement released by the Secretary of the State Government (SSG), Prof.

Chidiebere Onyia, in Enugu.

He said the Investment and Economic Growth Roundtable, which was a precursor to the launch of the maiden multi-stakeholder and fully transactional Diaspora and Investment Forum scheduled for the second quarter of 2024, would hold in Enugu and also draw investors from across various industries locally and internationally.

“The N1.6 trillion ($2.1 billion) project pipeline spans several industries, including transportation and healthcare infrastructure, as well as energy, power, and agro-allied industrialisation.

“Senior executives from the

the United Kingdom Department for Trade and Business, the Africa Finance Corporation (AFC), as well as the Nigerian Sovereign Wealth Fund, commercial banks, corporate pension funds, private equity funds, infrastructure funds, and other domestic financial institutions will convene in Enugu to chart a course for effectively mobilising private capital for large-scale infrastructure projects, including net-zero aligned projects that can unlock Enugu State's and South-Eastern Nigeria's economic potential.

“The Roundtable discussion will cover a range of topics, including addressing barriers to investment and economic growth in Enugu State; improving investor confidence in the State understanding investor’s risk and return preferences; and

line with Mbah’s determination to grow the Enugu State economy from $4.4 billion to $30 billion.

“Implementation of the State's Integrated Sector-Based Productivity Growth Strategy will ensure that those sectors with the greatest potential for growth are supported through measures to reduce unnecessary regulation and boost innovation and growth.

“The new administration recognises private investment as a key driver of long-term economic growth and prosperity, and the roundtable discussion will lay the groundwork for long-term partnerships and cooperation that can catalyse Enugu's accelerated economic growth.

"Part of this administration's agenda is the development of an Investment Plan for the Integrated

sectors. When it is released, the Plan is expected to incentivise and encourage private sector investors, as well as other stakeholders, to participate in the financing and delivery of critical infrastructure investment projects.

“We are optimistic about the future of PPPs and investments in Enugu as we build a clear legal, institutional and policy framework that should provide the businessfriendly environment that can enhance private sector participation and catalyse the scale of financing required to deliver these essential public infrastructure services.

“This investment roundtable is therefore the first step towards generating investment interest in these critical areas and charting a clear path to bankability for these projects,” he concluded.

WEDNESDAY AUGUST 30, 2023 ˾ T H I S D AY

37

NEWS

COURTESY VISIT TO FOREIGN AFFAIRS MINISTRY…

L-R: Secretary, Nigerian in Diaspora Commission (NiDCOM), Sule Yakubu Bassi; Chairman/CEO, Abike Dabiri-Erewa; Minister of Foreign Affairs, Yusuf Maitama Tuggar, and Permanent Secretary, Federal Ministry of Foreign Affairs, Adamu Ibrahim Lamuwa, during a courtesy visit to ministry by Diaspora Commission in Abuja...yesterday

One Suspected Kidnapper Killed, Five Arrested in Kwara Hammed Shittu in Ilorin

A combined operation of the men of Kwara State Police command and the local vigilance operatives yesterday in Elerinjare town in the Ifelodun Local Government Area of the state has led to arrest of five suspected members of a kidnap gang

in their hideouts.

It was also gathered that a suspected kingpin of the gang was reportedly killed when the security operatives stormed the hideout during the operation.

Reports had it that members of the kidnap gang had masterminded a kidnap incident in the area about two weeks ago.

Oyebanji Swears in New Head of Service GbengaSodeindeinAdoEkiti

Ekiti State Governor, Mr Biodun Oyebanji, yesterday swore in the newly appointed Head of Service, Sunday Komolafe, with a charge on the state civil service to embrace innovation in order to achieve effectiveness and efficiency of the service. The governor, who also inaugurated two commissioners- Prof Bolaji Aluko and Rt. Hon Karounwi Oladapo, restated his administration’s commitment to the welfare of workers in the state.

Governor Oyebanji urged Komolafe, who is an engineer, is the 10th substantive Head of Service in the state civil service, to mobilise and inspire the bureaucratic

apparatus of the state for the realisation of the six pillars of his administration and continuous implementation of the Civil Service Transformation Strategy.

The Governor, at the event that was also attended by the Deputy Governor, Chief (Mrs) Monisade Afuye; Wife of the Governor, Dr Olayemi Oyebanji, Deputy Speaker, Rt. Hon. Bolaji Olagbaju; Secretary to the State Government, Dr Habibat Adubiaro; members of the State Executive Council; traditional rulers and body of Permanent Secretaries, said his administration would continue to meet up with its responsibility with the expectation that the workers would reciprocate its good gestures with dedication, loyalty, honesty and hard work.

Osun Begins Distribution of Palliatives YinkaKolawoleinOsogbo The Osun State government through its palliatives committee in partnership with the ministry of special duties and regional integration has started the distribution of the subsidised rice palliatives.

This was disclosed in a release by the Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, who stated that the mode of sharing has been finalised by the committee, and that the distribution starts yesterday.

According to the release,

beneficiaries will begin to receive the rice palliatives according to the time-table prepared to capture everyone. The release added that the distribution will commence immediately after the Palliative Committee meets.

“The total number of the subsidised rice palliatives that will be distributed today is 5,700: three thousand 50kg from the first batch of palliatives, and 2,700 50kg bags of rice from the 14,000 second batch.”

“Similarly, Osun state has received N2 billion out of the N5 billion palliative money earmarked for the state by the federal government.”

It was also gathered that vigilance team in the town was led to the hideout of the alleged kidnappers by one Pastor Johnson Ajiboye,

whose wife, Mrs. Bola Ajiboye, was abducted at her shop in Elerinjare town and later released after payment of N1 million ransom and foodstuff

were given to the kidnappers.

One Pastor Oladipo, who had reportedly gone to deliver the ransom, was also seized by the kidnappers, while Mrs. Bola

Ajiboye was released.

The kidnappers also demanded N5 million ransom for the release of Pastor Oladipo.

Job Racketeering: Committee Denies Bribery Allegation, Summons NUC, Vice Chancellors Juliet Akoje in Abuja

The Chairman of the Ad hoc Committee investigating job racketeering in Federal Ministries, Departments and Agencies (MDAs), Hon. Yusuf Gagdi, yesterday summoned all the vice chancellors of federal universities to appear

on Friday to give documentary evidences on the allegation bothering on bribery and extortion by a member of the committee.

Gagdi during the resumed investigative hearing on job racketeering across over 900 MDAs, dismissed allegation on the alleged extortion of some

MDAs. While arguing that the author of the online report titled: ‘Nigerian lawmakers probing job racketeering are extorting money from agencies’, was being unfair to tag all the 37 members of the Ad hoc Committee as ‘corrupt’. Hon. Gagdi

stressed that the committee will not be deterred by any form of sponsored blackmail from carrying out its statutory functions.

He added that though he is the chairman of the committee, he was unaware of any members collecting money from MDAs.

Scores Allegedly Injured as Security Operatives Stop Youths Protest in A’Ibom capital, yesterday. towards the State Government as they scampered for safety.

Okon Bassey in Uyo

Scores of people were reportedly injured when security operatives confronted youths under the aegis of Niger Delta Advocacy Movement, (NDAM) and Ibom Youth Council (IYC), during a protest match in Uyo, Akwa Ibom State

The youths were said to had embarked on the protest in the city demanding five per cent share from the 13 per cent oil derivation.

The youths in their numbers also drawn from some other oil producing states of the Niger Delta region were on protest

House along Wellington Bassey Way, Uyo when security operatives blocked them from further movement.

An eyewitness said there was pandemonium when the police opened teargas on the group to disperse them during which scores of people were injured

Some residents of the area including Eka Street, Asutan Street and Udoh Streetssaid they were afraid when they heard gunshots and people running and seeking to take refuge in their houses and offices and were forced to lock up offices for fear of the unknown.

Court Stops Pharmaceutical Firm from Importing HIV Test Kit into Nigeria into Nigeria. of Messrs Tayo Oyetibo LP, in suit and/or its affiliates.

WaleIgbintade JusticeAkintayoAluko of the Federal High Court in Lagos has prohibited a multinational pharmaceutical group with headquarters in Ireland, Abbott Group of Companies, from importing Determine HIV Test kit

Justice Aluko ruled that the order subsists pending the determination of the application on notice filed by a Nigerian firm, Acouns Nigeria Limited.

Acouns instituted the suit through its counsel, Mofesomo Tayo-Oyetibo

number: FHC/L/CS/1528/2023.

It alleged that it executed a distribution agreement with Abbott Group under which Acouns has an exclusive right to import, distribute, advertise, and promote a particular product manufactured by Abbott

The product is known as Determine HIV 1/2 Test kit.

The agreement also included the right ofAcouns to obtain the relevant statutory licence and permit to bring the product into the territory of Nigeria.

FRSC Nabs User of Illegal Foreign Vehicle Plates in Abuja Kasim Sumaina in Abuja

The Federal Road Safety Corps (FRSC), Tuesday hinted that it has arrested one of the perpetrators who use both foreign and Nigerian number plates on the same vehicle.

The Corps noted that the arrest was made following the public

outcry about the security risks posed by noticeable violation of road traffic regulations by some motorists who use both foreign and Nigerian number plates on the same vehicle.

A statement in Abuja by Assistant Corps Marshal, Corps Public Education Officer, Federal

Road Safety Corps Headquarters, Bisi Kazeem said: “The Federal Road Safety Corps Patrol teams under Corps Marshal’s directive have through swift tactical operations swooped on, and arrested one of the perpetrators of that heinous crime.

“The driver with the vehicle, a

Volkswagen (Golf 3) with Kano number plate (BBJ746AA) placed at the front, and a foreign one (CV 51UMC) placed at the rear was apprehended within Idu operational area of the Corps in the Federal Capital Territory, Abuja, following adequate intelligence gathered by the tactical team.

Inaugurates 12 Residential Blocks for Soldiers in Sokoto Overall Best Student in Ondo Army residential blocks for soldiers blocks will alleviate the stressing that troops must Onuminya Innocent in in Giginya Barracks, Sokoto. accommodation challenges reciprocate the gesture to Sokoto Gets N2.5m VDT Scholarship According to GOC, who face by personnel in the show utmost commitment in

Ayodeji Ake

The Group Managing Director of VDT Communications Limited, Biodun Omoniyi, yesterday presented N2.5 million worth of scholarship to the overall best student in Ondo State, Joy Omoyeni, applauding her academic excellence performance.

Omoyeni clinched the top spot at the Telnet International School, Akure, Ondo State, as the best-graduating student.

She has been described as an academic trailblazer and

a beacon of success with a perfect A1 in all nine subjects in the West African Senior School Certificate Examination (WASSCE), a remarkable 338 Joint Admissions and Matriculation Board (JAMB) score, and a stellar 1,400 in Scholastic Aptitude Test (SAT).

In recognition of her outstanding achievements, VDT Communications presented Omoyeni a cash scholarship of up to N2.5 million for her undergraduate journey to the university.

The General Officer Commanding (GOC) 8 Division, Sokoto Maj Godwin Mutkut has inaugurated 12

is also commander joint task force operation Hadarin Daji, North-west, said the remodeling and renovated

barracks.

He emphasised that their welfare is paramount in the agenda of Nigerian Army,

carrying out their assigned tasks, to decisively put an end to banditry in the north west of the country.

IPCR, Geopolitics Series Partner for Global Peace, Security, Devt In a strategic move aimed at enhancing the comprehension of geopolitical dynamics and their repercussions in Africa from a global standpoint, Founder and Editor-in-Chief of Global Sentinel, Senator Iroegbu, and Producer of

Public Intel Security Africa, Dakore Ekpendu, have paid a visit to the Director-General of the Institute for Peace and Conflict Resolution (IPCR), in Abuja.

IPCR, renowned for its contributions to peace research

and conflict resolution strategies, welcomed the Geopolitics Series conveners to its Abuja headquarters, setting the stage for an exciting collaboration.

This partnership aims to bridge the gap between global issues and the African continent,

offering a multidimensional approach to engage a diverse audience in meaningful conversations.

Ochogwu, who recently assumed leadership at IPCR, expressed enthusiasm for the innovative partnership.

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˜ ͻ͸˜ ͺ͸ͺͻ ˾ T H I S D AY

PERSPECTIVE Enugu @ 32: The Man, Mbah, Meets the Moment Uche Anichukwu

T

he creation of Enugu State by the administration of former military President of Nigeria, General Ibrahim Badamosi Babangida (Retd.) on August 27, 1991, was expectedly received with great joy across the Waawa land. The founding fathers of the state - Chief Christian Chukwuma Onoh, HRH Igwe Edward Nnaji, Chief Enechi Onyia, HRH Igwe Charles Abangwu, Chief Basil Okwu, HRH Igwe John Ugwu Nwodo, and a host of others – also heaved a sigh of relief. Their doggedness, sacrifices, and foresightedness had ultimately paid off.

Nevertheless, it was not lost on the people that the actualisation of a state of their own was never an end in itself, but the beginning of a consequential journey to the social, political, and economic transformation of the Waawa land. And in this voyage, Enugu State has made relative progress under the leaderships of the late Col. Herbert Obieze, Dr. Okwesilieze Nwodo, Navy Capt. Temi Ejoor, Col. Mike Torey, Col. Sule Ahman, Navy Capt. Adewunmi Agbaje, Dr. Chimaroke Nnamani, Barr. Sullivan Chime, and Rt. Hon. Ifeanyi Ugwuanyi, who all paid their dues.

Likewise, Enugu State has had a fair share of limelight in national politics, especially in the legislative arm of government where several Enugu indigenes have played strategic roles. Foremost among them are former President of the Senate, Senator Ken Nnamani; former three-term Deputy President of the Senate, Senator Ike Ekweremadu; Senator Ayogu Eze, Hon. Ogbuefi Ozomgbachi, and Hon. Toby Okechukwu, who served as Chairmen of Works Committee, with Okechukwu additionally serving as Deputy Minority Leader of the House of Representatives.

Others include Senator Gil Nnaji, who served as Deputy Leader of the House before proceeding to the Senate, Senator Chukwuka Utazi, Hon. Pat Asadu, and Hon. Nnoli Nnaji. They, together with a host of their compatriots, have not only put Enugu on the map of the nation’s politics, but also immensely complemented the efforts of their home government in the development of Enugu State, especially in the area of employment, infrastructural and human capital development.

Enugu State has equally remained the centrepiece of South East politics, a cosmopolitan centre, and an undisputed home for Ndigbo and people from every section of Nigeria. Thus, in addition to pressures by South East leaders, it is on record that the Senator Ekweremadu-led delegation of the entire South East Caucus of the Sixth Senate to former President Umaru Yar’Adua made a collective demand for the designation of Akanu Ibiam Airport, Enugu, as an international airport, a request instantaneously granted by the late President. Also, while the Enugu State Caucus of the National Assembly collectively appropriated the sum of N2 billion due to their constituencies for development projects in the 2009 budget to shore up funds for upgrade of the Enugu Airport, South East leaders, notably federal lawmakers and the Governors Forum led by former governor Dave

Governor Peter Mbah Umahi, played remarkable roles in the major upgrade of the airport that cost the federal government well over N10 billion.

Despite these commendable efforts, however, Enugu State still has a long way to go. Since its creation, the state has thrived on incremental growth, which is heavily dependent on federal handouts.

But this development model has run a full course.

In fact, many have also argued that Enugu has lost its glory as the once envied capital of old Eastern Nigeria, while the incremental model has evidently begun a downward journey from its crescendo, making a disruption of the status quo both urgent and inevitable.

However, even the holy book rightly reminds that for everything there is a season, and a time for every matter under heaven. Thus, for Ndi Enugu, the 2023 governorship election was a decisive time for a paradigm shift, Dr. Peter Ndubuisi Mbah, an accomplished entrepreneur, public administrator, technocrat, and lawyer, fitted into. He represents that new generation leadership, not just by age, but also by ideas, pedigree, antecedents, and mentality.

He proposed a visionary manifesto that stood him out as the one needed to disrupt the status quo and reinvent the state, building on the achievements of his predecessors.

Notably, the Mbah administration has expressed a gargantuan vision that will raise Enugu’s economy from the present $4.4 billion GDP to $30 billion GDP in four to eight years, eradicate poverty, build 10,000km of roads in the urban and rural

areas, and deliver pipe borne water to Enugu city in the first 180 days of his administration, create employment and generally make Enugu State a preferred destination for investment, business, and living. He has equally executed a social contract on his first day in office to that effect.

To make this possible, the administration adopted an integrated sector-based productivity growth plan that covers agriculture, energy and mineral resources, commerce and industry, rural and urban infrastructure, creative industry, tourism and development, and Information Communication Technology (ICT) that will see Enugu attain a growth and transformation level never experienced anywhere in Nigeria.

But it is not just about promises; the Mbah administration put the pathways to that desired destination in black and white. For instance, agriculture and agro-allied industrialisation alone will contribute $10 billion to Enugu’s GDP. To this end, the Mbah government plans to create Special Agriculture Processing Zones (SAPZ); Technology for Agriculture Systems Transformation, Enugu (TASTE); E-Wallet that will introduce high-yielding seeds, fertilizers and farm inputs to farmers; M-Farm that will communicate directly to suppliers and off-takers and thereby cutting off middle men; and a rejigg of the land tenure system (working with the communities and the Enugu State House of Assembly) to make land accessible to large scale commercial farmers.

In the energy sector, the administration is working to catalyse energy and mineral resources development by revamping the state’s dormant assets to productive assets, attracting investors to explore and exploit Enugu’s oil and gas fields, coal, glass sand, iron ore, gypsum, limestone, alum, clay stone, kaolin, among others. It equally plans to explore renewable energy and tap into existing finance to set up captive power for industries and homes, and explore solar energy, wind, biomass and hydroelectric energy sources.

As a businessman, who understands the challenges of starting up and running businesses in Nigeria, Mbah’s administration plans to initiate and implement policies to effect ease of doing business, de-risk investment flow, upscale the Common Export Facility Centre, create innovation incubation centres for young entrepreneurs, develop a program for apprenticeship system for vocational education, and equally set up a N100 billion venture capital seed funds to catalyse small businesses and start-ups.

Meanwhile, how the government hopes to raise resources to fund the enormous vision has been a nagging question among Ndi Enugu. In this regard, the administration has developed various funding models that comprise blocking revenue leakages, enhancing the IGR, attracting investments, including Diaspora Investment Bond and Securitization, expanding the tax net without increasing the tax rate as well as innovative co-financing with the private sector and financial institutions, and international development banks. All aimed at attracting funds and investments.

Whereas it is yet early hours of the morning on creation day for the Governor Mbah administration, he had since set sail laying the groundwork for his giant dreams. Understanding that the Enugu that the founding fathers and people of Enugu envisioned coupled with his great dreams could not be actualised under a state of insecurity. He rightly identified the illegal sit-at-home, as the big elephant in the room, that is anti-investments and productivity and quickly banned it and took the battle to the criminal elements behind the sad phenomenon.

Today, Monday sit-at-home has virtually become a thing of the past in Enugu State.

Beside ensuring enormous security presence, the governor is also putting in place the necessary technology to fight crime. To this effect, streetlights are coming back to life in Enugu once again, to strengthen security and encourage nightlife.

Furthermore, he has either visited or hosted the service chiefs, including the Chief of Defence, Chief of the Air Staff, and Chief of the Naval Staff, among others. Only recently, the governor and the Chief of Naval Staff, Rear Admiral Emmanuel Ogalla, toured the Ogurugu jetty and waterways, pursuant to the planned naval base to boost security, water transportation, and economy around the South East and North Central.

Mbah is also building the necessary local and international partnerships and collaborations to boost investment. He was among the first governors to visit and hold private meetings with the President at the Aso Villa. As a fallout from that visit, Mbah has hosted the Managing Director of the Federal Airports Authority of Nigeria, Kabir Yusuf Mohammed, with whom he toured the ongoing international terminal and the proposed cargo terminal of the Akanu Ibiam International Airport, Enugu, with a view to partnering with the central government to earnestly complete and construct the projects, respectively.

He has visited the World Bank Country Director for Nigeria, Shubham Chaudhuri, and hosted the UK High Commissioner to Nigeria, Dr. Richard Montgomery.

Meanwhile, the government is set to hold the Investment and Economic Growth Stakeholder Roundtable in September 2023, which is a precursor to the launch of the first edition of the Enugu State Diaspora and Investment Forum (ES-DIF) scheduled for April 2024 all in line with the promises stated in his manifesto.

Of course, Mbah understands that water is life. He understands the place of water in the socio-economic wellbeing of the state and is even set to deliver water to Enugu city earlier than the promised 180 days.

As we say in the Nigerian parlance, we hazard from “good morning” what “good evening” would look like. Thus on the 32nd anniversary of Enugu State, it is safe to say that the man, Governor Peter Mbah, has met the moment and the long awaited tomorrow is finally here. r"OJDIVLXV JT 44" &YUFSOBM 3FMBUJPOT UP UIF (PWFSOPS PG &OVHV 4UBUF

BACK PAGE CONTINUATION T H E A R R I VA L O F M I D W E S T the one region created 60 years ago is a proof that the political manoeuvres in a federation are unending.

Perhaps, more than any other point, it is the democratic origin of the Midwest region that has distinguished it from the states subsequently created.

The standard case for state creation has been that this exercise in political engineering would bring development closer to the people. The chief host of the forum and Edo state governor, Mr. Godwin Obaseki, provided a yardstick to measure how far the dream has been realised. Obaseki aptly put it as follows: “Sixty years after the referendum, we are still bedevilled with numerous socio-economic challenges, which require a reset of the institutions and structures that propped the region up in the past.

“This is why we have undertaken holistic reforms of our institutions in Edo State in the last seven years.

We have advanced reforms and innovations in various spheres of the economy that have opened Edo up for investment.

“We must continue to work together to overcome challenges, build on our successes, and sustain collaborations toward building a strong and virile region.”

The theoretical underpinning for the discussions was set by the director-general of the Institute of International Affairs, Professor Eghosa Osaghae focussing on the idea of “federal solutions’” to the problems of federalism.

State creation is a form solution. Other forms of federal solutions include devolution and decentralisation. For some, it could be outright separation. The political scientist paraphrased a famous authority on federalism, Sir Kenneth Clinton Wheare, to say that textbook prescriptions on federalism should only be used as guides because federalism would evolve practically according to the realities of a particular polity. Enthusiasts of the federalist option often call for ‘true federalism.” But as Osaghae reminded the forum, every nation would practise federalism according to its political, historical and cultural peculiarities. The American federalism is not identical to the Indian federalism. Neither is the Australian federalism identical to the Canadian federalism. So, instead of the pursuit of the phantom of

a “true federalism,” genuine federalists should be more creative in making the Nigerian federalism workable.

In Osaghae’s view, the Nigerian federalism has evolved as a result of the aggregation of federalist principles.

Referring to the 1963 referendum as a “bargaining solution” by a people poised for self-determination, he made a distinction between the “region-centred” and the “nation-centred’ approaches.

Other speakers built on Osaghae’s eloquent formulation. Another keynote speaker, Professor Edward Erhagbe harped on the imperative of “fiscal federalism” and the revision of the legislative list to give more powers to the state. A radical scholar, Professor Godini Darah, unequivocally called for “resource control” as the solution to the fundamental problems of Nigerian federalism. Darah advocated that Nigeria should rather go back to the 1963 Constitution in the same tone as elder stateman, Chief Edwin Clark. Former Nigerian Ambassador to Ethiopia, Mrs Nkoyo Toyo, and former Member of the House of Representatives identified the oppression of the “micro minorities” within a minority group. The contradiction between a minority group and a micro-minority within it is often eclipsed by the bigger contradiction between the minority group and a majority group. This trend is worth pondering because the issues of the Nigerian federalism are not only geographical; the ethnic bases are very pronounced.

Ambassador Godknows Igali, who moderated the colloquium, drew attention of the audience to the “elite consensus’” that was manifest in the politics of the creation of the Midwest region. For him, a pan-Nigerian approach would be indispensable in solving the problems of the Nigerian federalism. He challenged former Edo State governor and now a senator, Comrade Adams Oshiomhole, to give an account of how members of the National Assembly from the south-south were forging elite consensus on solving the problems of the region.. Oshiomhole paid compliments to his successor, Obaseki, for appropriately organising the forum to reflect on the journey of the Midwest in 60 years and Edo state in the last 32

years of its birth. He said senators from different parties representing the three districts of Edo state in the senate are pushing for the rehabilitation of the federal roads in the state. In his first few days in the senate, Oshiomhole moved a motion on the derelict state of the Benin-Auchi road which also links Edo state with Kogi state. Oshiomhole also called for the revitalisation of the concept of regional development bloc for the south-south states of Bayelsa (B), Rivers (R), Akwa Ibom (A), Cross River (C), Edo (E) and Delta (D) – BRACED. According to him, properly organised the BRACED Commission could propel joint development efforts that could make the south-south states a stronger bloc. Well, politicians usually focus more on states as federative units of sorts and less on economic regional blocs. Oshiomhole also made an observation that is worthy pondering by those still demanding creation of more states out of the existing 36: the more the federating units are atomised, the weaker they become relative to the centre.

The element of the “elite consensus’ suggested by Igali would be crucial in achieving federalism as famously defined by K.C. Wheare: “the method of dividing power so that general and regional governments are each within a sphere coordinate and independent”.

One aspect of the Midwest story which was not emphasised enough at the symposium was that the elite consensus was not easy to forge in the creation of the fourth region. Balewa was enthusiastic to move the motion for the 1963 referendum. But the same prime minister was not eager to support the creation of the Middle Belt region which Joseph Tarka and other leaders of the region fought for gallantly. Leaders of the Middle Belt also wanted to be out of the Northern Region. Dr. Nnamdi Azikiwe ‘s party, the National Council of Nigerian Citizen (NCNC) was at the centre of the demand for the creation of the Midwest Region and Osadebay, who emerged the region’s premier, was an NCNC leader. The NCNC was not backing the creation of the Calabar- River-Ogoja (COR) state out of the Eastern Region. Chief Obafemi Awolowo, the first premier of the old western region, was in custody

and on trial for treason by the time the Midwest was created. In principle, Awolowo was not opposed to state creation of Midwest or any other region for that matter. As far back as 1947, Awolowo wrote in his book entitled: “Path to Nigerian Freedom” that the “ultimate goal” of the federalist pursuit should be the following: “Each group, however small, is entitled to the same treatment as any other group, however large… Each group must be autonomous in regard to its internal affairs. Each must have its own Regional House of Assembly.” That was the position of his party, the Action Group (AG). And under Awolowo’s premiership, the Western House of Assembly in 1955 passed a resolution to back the demand for the creation of the “Benin-Delta,” state. Benin-Delta state was the original name given to what later became the Midwest Region. Before the resolution, Enahoro, who was also a leader of the AG, had called for a conference in Sapele to demand for a Benin-Delta state.

As Oshiomhole said in his unusually brief goodwill message to the colloquium, telling the story of the factor of the Midwest in the evolution of the Nigerian federalism is a deep service to history. It was remarkable that a good number of young people were in the audience listening to the various perspectives brought into the important reflection.

Eminent historian, Professor Jacob Ade-Ajayi, once remarked that proceeding on the path of development without a good knowledge of history is like driving car without a rear-view mirror. Doubtless, such a journey could be accident -prone. That’s why those policymakers who once removed history from the school curriculum committed an unforgivable error of judgment with their warped concept of education.

A historical retrospection is important in discussing issues such as state creation so that all sides of the debate would be sufficiently illuminated.

All told, 60 years after the creation of the Midwest, the agitation for state creation has not ceased in parts of the country including Edo and Delta states. Looking back into history could, therefore, help in finding the federal solutions to geo-political problems of Nigeria.

39

WEDNESDAY, ͻ͸˜ ͺ͸ͺͻ ˾ T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Enyimba, Bendel Insurance to Reopen Rivalry in Opening Fixture Duro Ikhazuagbe The defending champions of the Nigerian Premier Football League, Enyimba FC of Aba, will start the defence of their title against rejuvenated Bendel Insurance FC in the Match-day 1 fixture of the country’s topflight league.

The mouth-watering fixtures

2023/24 OPENING FIXTURES from the draw ceremony will also see former champions Rivers United taking on Remo Stars while Plateau United will travel to Adamasingba in Ibadan to take on Shooting Stars Sports Club (3SC).

Enyimba will start the hunt for

their la decimaltitle having won their ninth title in the abridged league format last season.

Insurance on the other hands regained their scoring formula last season when they who won their first major trophy, the FA Cup, after over two decades.

Unlike Enyimba who were knocked out of Africa’s numero uno club competition, the Champions League, Insurance are through to the second round of the CAF Confederation Cup. Rivers United and Remo Stars, who both finished in NPFL Top-4 last season have a date in the opening weekend while traditional clubs Shooting

Stars and Plateau United have scores to settle when the new season kicks off on September 9 Debutant Sporting Lagos will trade tackles with Gombe United while Heartland will face Lobi Stars. Katsina United will host Kwara United while Sunshine Stars will host Kano Pillars in Akure. Doma United will be the guests of Rangers FC in Enugu.

NPFL MATCH-DAY 1 Bayelsa Utd vs Akwa Utd Shooting vs Plateau Utd Abia War’ vs N’Tornadoes Enyimba vs B’ Insurance Rivers Utd vs Remo Stars Katsina Utd vs Kwara Utd Sunshine vs Kano Pillars Heartland vs Lobi Stars Sporting vs Gombe Utd Rangers vs Doma Utd

Ndidi Lifts Leicester City to Third Round of League Cup Nigerian international, Wilfred Ndidi, scored for the second straight League Cup tie for Leicester City to beat Tranmere Rovers 2-0 last night.

Ndidi, who has been linked with a transfer back to the Premier League, opened scoring for Leicester City in the 55th minute, when he drilled home a shot from inside the Tranmere box.

The 46th minute sub also assisted for his team’s second goal four minutes later.

Ndidi who played as an attacking midfielder, was also on target against Burton in the previous round of the League Cup. Last night’s win has pushed Leicester City to the third round of the cup competition.

Me Meanwhile, Richarlison scored but could not prevent Tottenham going out of the Carabao Cup as Fulham won a penalty shootout 5-3 to progress to round three.

After a Micky van de Ven first-half own goal gave Fulham a deserved lead, Spurs levelled in unusual circumstances.

The home side were temporarily reduced to 10 men when Kenny Tete had to change his boot and Spurs took full advantage when Richarlison headed in.

But Davinson Sanchez's penalty was saved as Fulham won the shootout.

It was Tete - with a new boot on - who scored the decisive spotkick to send the home side through.

Onana Recalled to Cameroon Squad after Qatar 2022 Spat with Song Manchester United’s new goalkeeper, Onana and said it was natural that Andre Onana, has been recalled to as the best available goalkeeper he Cameroon’s squad nine months after was in the squad. he walked out on the team during “There was never a problem with the World Cup in Qatar.

Andre, the door has always been Onana was named on Tuesday by open to him and we are happy he coach Rigobert Song in the squad for is coming back to join the group,” the Africa Cup of Nations qualifier said Song. against Burundi in Garoua on Sept.

12, where the Indomitable Lions need only a draw to guarantee a place at January’s finals in Cote d’Ivoire.

Onana, 27, left the Cameroon squad in Qatar last November after their opening group game against Switzerland following a dispute with Song over tactics and training.

The Cameroon Football Federation said he was suspended and had been sent home and he has not played for the country since, having announced his retirement from international football.

But on Tuesday at a press conference in Yaounde, Song Andre Onana...recalled to Cameroon’s denied there had been a problem with Indomitable Lions

Nigerian International Wilfred Ndidi (left) celebrating his goal with Vardy as Leicester City progressed into the Third Round of the Carabao Cup against

Haaland Wins PFA Men’s Player of the Year award Bukayo Saka named Young Player of the Year Manchester City's Erling Haaland has won the PFA men's Players' Player of the Year award, with Arsenal's Bukayo Saka named Young Player of the Year.

Norway forward Haaland, 23, scored 52 goals in all competitions in his debut season with Pep Guardiola's side.

Haaland beat team-mates Kevin de Bruyne and John Stones, Arsenal's Saka and Martin Odegaard and Tottenham's Harry Kane, now at

Bayern Munich.

City won the Premier League, FA Cup and Champions League last season.

Haaland joined City from Borussia Dortmund in a deal worth £51.2m in June 2022.

He was also nominated for the young player prize, which was awarded to England winger Saka after he scored 14 goals and contributed 11 assists in his finest season for the Gunners.

The 21-year-old beat fellow

US Open: Medvedev, Zverev through to Next Round Third seed Daniil Medvedev needed just 74 minutes to cruise into the second round of the US Open with a dominant win over Attila Balazs.

The 2021 champion hit 41 winners as he beat the Hungarian 6-1 6-1 6-0.

Despite his brilliant win on Arthur Ashe Stadium, the Russian said he "does not care" all the attention is firmly on Novak Djokovic and Carlos Alcaraz.

The emerging rivalry of top two seeds Alcaraz and Djokovic has dominated the build-up to the men's event.

"It's normal they're the biggest

names right now," Medvedev, 27, said.

"I don't care. My goal is to try to play well to get to wherever they are and try to win."

Medvedev will play the winner of the all-Australian encounter between Max Purcell and Christopher O'Connell for a spot in the last 32.

But Medvedev's compatriot and 11th seed Karen Khachanov was upset 6-2 6-4 6-2 by American Michael Mmoh.

Elsewhere on day two, 12th seed and 2020 finalist Alexander Zverev beat Australian Aleksandar Vukic 6-4 6-4 6-4.

nominees Moises Caicedo, who recently joined Chelsea from Brighton, Aston Villa midfielder Jacob Ramsey, Arsenal forward Gabriel Martinelli and Brighton striker Evan Ferguson.

Meanwhile, both winners of the

individual prizes were also included in the PFA Team of the Year.

Aston Villa striker Rachel Daly won the PFA women's Player of the Year award,while Chelsea's Lauren James was named Young Player of the Year.

Adebakin, Ojo Win at 4th Efunkoya Table Tennis Championships New champions emerged at the fourth edition of the Dr. Adegboyega Efunkoya Cadet Table Tennis Championships as Tobi Adebakin and Favour Ojo lifted the trophies at the grand finale of the two-day tournament at the National Stadium in Lagos at the weekend.

The U-15 tournament Championship had over 170 players drawn from 12 states and 36 clubs competing in five events – (singles, doubles, and mixed doubles) with Adebakin and Ojo dethroning defending champions in the singles events.

To win the boys’ title, Adebakin dominated the final against Sodiq Adesanya with a convincing 3-0 (11-5, 11-7, 11-4) while Ojo also dominated 2022 champion Aishat Rabiu with an overwhelming 3-0 (11-8, 11-5, 11-9) win to lift the title for the first time.

But Rabiu made up for her singles’ defeat to win the girls’ doubles title with Musbau Faisa while she also added the mixed doubles title with Adebakin to return home with two gold and one silver medals.

According to spokesperson of the Efunkoya Foundation, Ranti Lajide, the tournament would continue to grow in leaps and bounds.

“Our target this year was to focus on the girls, and we are indeed very happy that we are able to achieve that.

“We started by asking them to get into coaching clinics and career talks and we have been able to see less than 10 of the 64 girls that we can begin to put into practice and train them to represent Nigeria in another one year, particularly in the junior category.

Wednesday, August 30, 2023

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MISSILE Engineers to DISCOS “It was also observed that the Discos spend a substantial amount of their approved OPEX for payment of consultancy services and technical partnership payments that do not translate to any operational efficiency.”– The Nigerian Society of Engineers (NSE) opposing increase in electricity tariffs by the Distribution Companies (DISCOS).

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Arrival of Midwest I

t was an opportune moment in Benin two days ago to reflect again on the lingering issues of the Nigerian federalism. The occasion was a colloquium organised by the Edo state government commemorate the 60th anniversary of the creation of the old Midwest Region, from which the present Edo and Delta states have emerged.

Fitting tributes were richly paid to the memory of the leaders who led the struggle for the creation of the region. These historical figures included the first premier of the region, Sir Denis Osadebay, Oba Eweka II, Oba Akenzua II and the great nationalist, Chief Anthony Enahoro. Consisted with the theme, “60 Years After the Referendum, Which Way Midwest?,” speakers at the forum looked back into history as they expressed hope for the future.

The arrival of the Midwest into Nigeria’s federal landscape was remarkable in many respects.

On July 13, 1963 the federal government conducted a referendum to determine the wish of the people of the Midwest on the question of carving the area out of the old Western Region. Western region stretched from Badagry in the present Lagos State to Patani in today’s Delta state. Almost 90% of the people voted in favour of the creation of the new region as the fourth in the Nigerian federation at the time. In the last 60 years, more states have been created by successive military regimes. The four-region structure of 1963

Telling the story of the factor of the Midwest in the evolution of the Nigerian federalism is a deep service to history.

Dennis Osadebay

Anthony Enahoro

is today a 36-state federation. Yet, the agitation for more states has hardly abated.

However, as a former governor of Edo state, Professor Oserheimen Osunbor, put it in his goodwill message at the forum, because of its democratic content the

story of the creation of the Midwest Region should be read in a fundamentally different way from that of the creation of any other state. The Midwest has been the only geo-political unit created based on the will of the people expressed in a popular referendum.

According to Osunbor, just like the colonialists never reckoned with the people in the shaping of Nigeria, the military regimes also created states by decrees. In contrast to the use of force, the Midwest region arose out of political negotiations and mobilisation. Yes, there were manoeuvres in the process!. For instance, the prime minister himself, Sir Abubakar Tafawa Balewa, moved the motion for the referendum in the federal parliament. Doubtless, a lot of politics was played in the process as will be shown later in this column. But it was all legitimate. After all, like another scholar puts it, what is federalism if not a perpetual negotiation?

The mere fact that two regions have emerged from Continued on page 38

YOMIEDU MERITROCRACY

Hope Restored M

any of us found it difficult to support or vote for a continuation of the APC government in the 2023 National Elections. We had witnessed the first four years of non -performance under the Ruling Party from 2015 to 2019 but took another leap of faith in 2019 and returned them to office in 2019.

We did not adhere to the words of the world-famous acclaimed Genius Albert Einstein who was quoted as saying “Insanity is doing the same thing over and over again and expecting a different result.”

Indeed, two out of three Nigerians that went to the polls, voted against the ruling party. It was an eight-year period in our political history that brought ethnic and religious division to a new level in our dear country.

The ruling APC government won in 12 states with about 37% of the total votes cast – not exactly a popular Mandate.

We had placed so much hope in President Buhari and the ruling APC administration but were let down woefully. Certainly, the Buhari administration can lay claim to having completed many projects left uncompleted by previous administrations but will find it hard to show anyone projects initiated and successfully completed in its eight-years tenure.

President Buhari will be remembered as a man of the people, a patriotic and honest leader who spoke to the experiences of ordinary citizens, but one who

President Bola Tinubu was loved and accepted by most. Ultimately, he will not be remembered as one of Nigeria’s most effective leaders.

The inauguration of President Bola Ahmed Tinubu brought renewed hopes for the country. The first salvo was the removal of the unsustainable fuel subsidy,

which has for years drained the treasury of our most valuable natural resources and denied funds that could have been used to improve our health and educational sectors amongst others.

The next courageous action was the removal of the multiple foreign-exchange rates and the immediate re-unification of the rates. The multiple exchange rates deterred the much-needed foreign direct investment and boosted the black market.

The new appointments on the security side will hopefully, step up efforts and take a more aggressive, multidimensional approach to eliminating terrorism, kidnapping and other violence activities in many parts of the country.

However, the biggest elephant is still in the room. It is a complex, but necessary one – the RESTRUCTIORING of our Federation.

Meritocracy was promised by our new President, but with the exception of a few names, the recently announced nominees for ministerial positions clearly shows that politics continues to play a significant role in the decision making process and clearly shows that political debts are being repaid. While this is by no means peculiar to this administration, the current situation in our country requires a different approach. Our newly installed President, instituted as then Governor of Lagos State, a model of meritocracy which laid the foundation for the progress Lagos has achieved to date. Meritocracy is a political, social or

economic system in which individuals are assigned to positions of power, influence, or rewarded based solely on their abilities and achievements. At no other time in our history has this been more imperative to the future growth and recovery of our great nation, Nigeria.

Elections have come and gone, and it is time to put National interest above all personal interest. Politicians should sheathe their swords and as a nation, we should be patient with the new administration.

In a democratic setting, opposition parties have a vital role to play. They are our watchdog. They must offer constructive and not destructive criticism of any perceived detrimental actions of the government.

Four years will soon be upon us, and another election will stare us in the face, God Willing.

We must hold our elected official accountable and seize the moment when it arrives and go out en masse to either reward an effective and successful government or throw out one that has failed its people once again.

In the meantime, our hopes are slowly being restored

by President Tinubu’s administration, but these are early days, and the jury is still out.

We should all put our differences aside, refocus our energies and pray for the success of the new administration.

It is in our collective interest.

May the Almighty bless our Motherland.

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