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Otedola Commends Sanwo-Olu on Successful Completion of Lagos Blue Rail Calls on Lagosians to continue to support gov. in his quest to deliver more world class infrastructure for benefit of the people Nume Ekeghe Nigeria’s billionaire, Chairman, Geregu Power Plc, and also Director, First Bank Holdings Plc, Mr. Femi

Otedola, has commended Governor Babajide Sanwo-Olu, members of his administration and the people of the state on the successful completion and inauguration of the Lagos Blue

Rail after so many years.

In a statement issued yesterday, Otedola, said the project should gladden the heart of every Lagosian and resident of the state.

Sanwo-Olu, on Monday, flagged off the commercial operations train service in the state by riding on the maiden passenger train on the Blue line rail from Marina Terminal to

Mile-2 Station. The governor, was the first passenger at the Marina Station of the Blue Line Rail. The ride from the Marina Terminal to Mile 2 takes about 25 minutes, with

a 90-second stoppage at each of the five stations before the final destination.

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Tinubu100: Strong Start, Stronger Challenges... Page 5 Wednesday 06 September, 2023 Vol 28. No 10374. Price: N250

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Tinubu100: Strong Start, Stronger Challenges Here are 25 key performance indicators as guide Kingsley Nwezeh, Emmanuel Addeh, James Emejo in Abuja and Peter Uzoho in Lagos Today makes it exactly 100 days since President Bola Tinubu was inaugurated as the 16th president of Nigeria.

Interestingly, it is the same day that the Presidential Election Petitions Tribunal is scheduled to deliver judgement in the petitions challenging Tinubu’s election as president.

Indeed, it has been a momentous 100 days marked by deliberately proactive initiatives and reset policies, as well as a few policy missteps, which have been trailed by both commendation and controversy.

Tinubu's first 100 days in office has been tensionsoaked and action-packed, with wide lamentations among the citizenry due to the fallout of some key policies.

The controversial policy of subsidy removal threw the country into instant suffering and lamentation from day one, worsened by the subsequent decision to restore democratic order in Niger Republic.

The threat of military alliance between Mali, Bukina Faso, Guinea Bissau and Niger, and the wider implication of a proxy war by western powers, Russia and China brought the sudden reality of a military confrontation at the doorstep of the nation. This was, especially, given the complicated relationship between the people of Niger and seven contiguous northern states of Nigeria in just three months of Tinubu's ascension to power.

However, there was excitement following the appointment of ministers, heads of parastatals and other controversial decisions, including the suspension from office and subsequent arrest and detention of Governor of the Central Bank (CBN), Godwin Emefiele, and the sacking of Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa. Both men are still languishing in detention.

Several court orders to release Emefiele have been defied by Tinubu's government. While no explanation has been given for the detention of the former EFCC Chairman.

Below are some of the major developments that have watermarked the first 100 days of the Tinubu administration.

1. FUEL SUBSIDY REMOVAL In his May 29 inauguration speech, Bola Tinubu announced an end to petrol subsidy, resulting in a sharp increase in the price of the product. Tinubu said the policy was a burden on the country’s scarce resources.

While the action was commended by stakeholders and analysts, including the international creditors, the lack of concrete planning and palliatives that ought to have been provided immediately subsidy was removed led to increased hardship, hunger and poverty in the land, with agitations from the organised labour.

2. FOREX UNIFICATION On June 13, at the behest of Tinubu, the Central Bank of Nigeria (CBN) announced the abolishment of segmentation in the foreign exchange (forex) market and collapsed all rates into the Investors and Exporters (I&E) window. The move put an end to the multiple exchange system, leading to the floating of the naira.

In one fell swoop, the apex bank also announced the re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window as well as the cessation of the RT200 Rebate and Naira4Dollar Remittance Schemes, with effect from June 30. They had argued that the operation of different exchange rates was a great disincentive to local and foreign investors.

President Bola Tinubu

3. REMOVAL OF CBN GOVERNOR One of the major actions taken by Tinubu on assumption of office was the suspension of Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, from office on June 9. The president immediately ordered Emefiele’s probe.

The CBN governor’s suspension was sequel to an ongoing investigation of his office and the planned reforms in the economy’s financial sector, according to a statement from the Office of the Secretary to the Government of the Federation.

But many believed Emefiele’s suspension was more of a political and personal issue for Tinubu, having accused the former of plotting to thwart his presidential ambition during the elections that brought him to power.

At the centre of the disagreement was the currency redesign programme and cashless policy introduced

by Emefiele in the build-up to the elections to among, other things, limit vote-buying by politicians.

The embattled CBN governor had denied the accusations and repeatedly stated that the policies were targeted at no one in particular.

Emefiele remains in custody, despite a court ruling for his release.

4. REMOVAL OF EFCC CHAIRMAN On July 14, Tinubu removed Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, from office, indefinitely. Bawa’s suspension was equally announced by the Office of the Secretary to the Government of the Federation (OSGF). His suspension, reportedly, stemmed from weighty allegations of abuse of office levelled against him. The government also said it wanted “to allow for proper investigation into his conduct while in office”.

...APC Thanks Nigerians for Supporting Tinubu Adedayo Akinwale in Abuja The leadership of the All Progressives Congress (APC), has commended Nigerians for their support as President Bola Tinubu implements bold measures to reset the country’s economy for sustainable growth and beneficial development National Publicity Secretary of the party, Felix Morka, in a statement, urged Nigerians to stand-fast in their support

of the APC-led administration.

The party expressed optimism that Tinubu would spare no effort in his determination to radically remake the social, economic, security and material conditions of our country, and expand access to improved quality of life for all Nigerians.

"On this incipient milestone of 100 days in office of President Bola Ahmed Tinubu’s administration, the All Progressives Congress (APC) com-

mends Nigerians for their highly valued partnership and support as the president implements bold measures to reset the country’s economy for sustainable growth and beneficial development.

"Undeterred by daunting global trends and challenges, President Tinubu is deftly unknotting debilitating complex distortions and inefficiencies, and enacting people-centered policies encapsulated in the Renewed Hope Agenda geared towards expanding livelihood resources,

promoting investment and growth opportunities, tackling insecurity and implementing targeted social intervention programs to cushion the difficult but transient impact of the administration’s essential policy reforms," Morka said.

He stressed that this focused commitment has rekindled enthusiasm among the local business community and foreign investors, who saw strong prospects of the country as a choice destination for investment.

5. ABOLITION OF SUPPORT FOR PROFESSIONAL BODIES As part of the cost-cutting measures by the Tinubu administration, the Presidential Committee on Salaries (PCS), on June 28, approved the discontinuation of budgetary allocation to professional bodies/councils effective from January 2024. The move, announced by Director-General, Budget Office of the Federation, Mr. Ben Akabueze, in a letter dated June 26, 2023, and addressed to Chief Registrar/Chief Executive, Optometrist, and Dispensing Opticians Board, pointed out that the PCS’s approval for the stoppage of the funding support from the treasury was given during the committee’s 13th meeting.

Akabueze further explained that by the correspondence, the affected entities would be required to be fully responsible for their personnel, overhead, and capital expenditures going forward.

The letter, titled, “Discontinuation of Funding of Professional Bodies and Councils from 2024 Budget, in Line with the Decisions of the Presidential Committee on Salaries (PCS)," stated that the budget office will no longer make budgetary provisions to the institutions. It added that they will be self-funded organisations henceforth.

6. SACK OF BUHARI’S APPOINTEES ON BOARDS On June 19, President Bola Tinubu approved the immediate dissolution of the governing boards of all federal government parastatals, agencies, institutions, and government-owned companies that were appointed by his predecessor. A statement by the Secretary to the Government of the Federation, Senator George Akume, said the dissolution was carried out by the government in the exercise of its constitutional powers and in the public interest.

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NEWS T I N U B U 1 0 0 : ST R O N G STA RT, ST R O N G E R C H A L L E N G E S Tinubu terminated the appointment of Executive Vice-Chairman/Chief Executive Officer (CEO) of the National Agency for Science Engineering Infrastructure (NASENI), Dr. Bashir Gwandu, fired after serving two terms and what appeared to be an erroneous approval for a third tenure. The most senior director stood in for some time, pending Gwandu's appointment in the dying days of former president Buhari.

But Tinubu approved the appointment of 32 years old Khalil Suleiman Halilu as the new Executive Vice Chairman and CEO of NASENI. Presidential spokesperson, Ajuri Ngelale, said Halilu will serve for an initial term of five years in accordance with the relevant sections of the NASENI Act, 2014.

7. SIGNING OF ELECTRICITY BILL INTO LAW In June, Tinubu assented to the electricity bill, which, among others, authorised states, companies and individuals to generate, transmit and distribute electricity. The new electricity law repealed the Electric Power Sector Reform Act (EPSRA), which was signed into law by former President Olusegun Obasanjo in 2005 and provided the legal, regulatory and governance frameworks underpinning the sector.

It also consolidated all legislations dealing with the electricity supply industry to provide an omnibus and ideal institutional framework to guide the postprivatisation phase and attract investment.

According to the new law, states would be able to issue licenses to private investors with the ability to operate mini-grids and power plants. But the law said such state licenses were not to extend to inter-state or transnational distribution of electricity.

21. PARTNERSHIP WITH PEEK VISION FOUNDATION Tinubu approved the partnership between the Federal Ministry of Health’s National Eye Health Programme and the Peek Vision Foundation, which was targeted at providing more than five million pairs of eyeglasses for Nigerians experiencing sight impairments. Tinubu gave the approval in Abuja, when he hosted the Founder and Chief Executive Officer of Peek Vision Foundation and Co-Founder of the Vision Catalyst Fund, Prof. Andrew Bastawrous, who came on a courtesy visit to the president.

While recounting how close to home his first intervention in eye health was from his days as Lagos State Governor, Tinubu who gave his support for the provision of eyeglasses to the visually impaired, encouraged the mobilisation of further commitment to the initiative.

8. ASSENT TO STUDENTS’ LOAN LAW Tinubu, within his first 100 days in power, signed the students’ loan bill into law, being one of his campaign promises, to liberalise funding of education in the country. The federal government stated that the idea behind the law was to help indigent students and other interested parties, to be able to obtain education in the country.

The government explained, “So this is a boom to our youths, to our students nationwide...there are committees to be set up, the members of committees are drawn from various bodies to superintend over the efficient and proficient disbursement of this facility.”

9. APPOINTMENT OF 45 MINISTERS

22. G20 SUMMIT

After a long wait, Tinubu released a full list of ministers who would assist him in delivering on his electoral promises. The ministers had since taken the oath of office, and had been assigned portfolios and resumed at their respective ministries.

10. INAUGURATION OF COMMITTEE ON FISCAL POLICY AND TAX REFORMS On August 8, the president inaugurated the presidential committee on fiscal policy and tax reforms at State House, Abuja. The Taiwo Oyedele-led committee, comprising experts from both the private and public sectors, was saddled with the responsibility of reworking various aspects of the tax law, fiscal policy design and coordination, as well as harmonisation of taxes and revenue administration.

11. RECALL OF AMBASSADORS The federal government recently recalled all career and non-career ambassadors. Minister of Foreign Affairs, Ambassador Yusuf Tuggar, said the ambassadors, as representatives of the country, served at the behest of the president. He said the president could either send or recall them from any country. The ambassadors, who had been appointed by former President Muhammadu Buhari in 2021, were expected to commence the winding down of their affairs in their countries of deployment, take formal leave of the host governments within 60 days, and return to Nigeria by October 31, 2023, at the latest.

12. FIRST NATIONAL BROADCAST To explain to Nigerians his effort to ameliorate the harsh effect of his petrol subsidy removal policy, Tinubu, in his first national broadcast, said his administration had made provisions to invest N100 billion between now and March 2024 in the acquisition of 3,000 units of 20-seater buses powered by compressed natural gas (CNG).

Tinubu added that his administration placed a high priority on enhancing citizens’ welfare and living conditions, stressing that the move would boost mass transportation. He said a new infrastructure fund would further enable states to intervene and invest in critical areas and bring relief to many Nigerians, as well as revamp the country’s decaying healthcare and educational infrastructure.

The president stated, “The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.”

13. EXTENSION OF POST-SUBSIDY PALLIATIVES TO STATES The federal government also approved N5 billion for each state and the Federal Capital Territory (FCT) to enable them to procure food items for distribution to the poor in their respective states. The governors confirmed receiving N2 billion as first tranche. It came in the wake of the hike in the cost of food items, and petroleum owing to the removal of subsidy on the commodity.

The federal government also announced the release of five trucks of rice each to the 36 state governors.

According to the government, 52 per cent of the funds are given to the state governments as grants, with 48 per cent as loans.

14. NNPC SECURES $3BN FROM AFREXIMBANK The Nigerian National Petroleum Company Limited (NNPC) secured a $3 billion emergency crude repayment loan to support the naira and stabilise the foreign exchange market. The federal government

President Bola Tinubu secured the crude-for-cash funding from the African Export-Import Bank (Afreximbank) headquartered in Cairo, Egypt.

A statement from NNPC said, “The NNPC Ltd and Afrexim Bank have jointly signed a commitment letter and Termsheet for an emergency $3 billion crude oil repayment loan.

“The signing, which took place at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the federal government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market.”

15. TRIP TO FRANCE In June, Tinubu embarked on his first official trip as president to France, where he joined other world leaders in Paris to review and sign a New Global Financial Pact that placed vulnerable countries on priority list for support and investment. This followed the devastating effect of climate change, energy crisis, and after effect of the COVID-19 pandemic.

During the two-day summit held from June 22 to 23, the president participated actively, along with his counterparts from other nations, in the discussions that looked at opportunities to restore fiscal space to countries that faced difficult short-term financial challenges, especially, the most indebted ones, such as Nigeria.

Tinubu also joined other global leaders, multilateral institutions, financial experts and economists to take a holistic look at the recovery of economies from the effect of COVID-19 pandemic, and rising cases of poverty, with a view to providing access to finance and investment that would leverage inclusive growth.

16. ELECTION AS ECOWAS CHAIRMAN Tinubu was on July 9 elected Chairman of the Authority of the Heads of State and Government of the Economic Community of West African States (ECOWAS). It was the first time a president, who was barely three months in office as president of a member-state, was elected chairman of the regional bloc. Tinubu is the eighth Nigerian leader to be elected chairman of ECOWAS. In his inaugural speech to ECOWAS members, the president pledged to provide a leadership determined to tackle terrorism and general insecurity in the sub-region.

He took a famous position to move against the coup contagion ravaging West Africa, where eight coup attempts were recorded in the last two years with four successful ones in Guinea Bissau, Mali, Bukina Faso, Niger, and the latest one in Gabon.

17. COUP IN NIGER REPUBLIC The decision by the regional ECOWAS to consider the option of military intervention to restore deposed President Mohammed Bazoun in Niger Republic was a turning point in Tinubu’s 100 days in office.

Tinubu had, in his speech on assumption of office as ECOWAS Chairman, called on member states to “stand firm on democracy."

He said, “We will not accept coup after coup in

West Africa again. Democracy is very difficult to manage, but it is the best form of government.”

With the option of military intervention, the Tinubu-led regional bloc was faced with a difficult decision to either walk the talk or stick with the diplomatic option that was complicated by the face-off between the military junta, backed by the Nigerian masses, and the French authorities, who refused to recognise the new military government.

Tinubu faced the challenge of another coup on August 30, in neighbouring Republic of Gabon. In his official reaction, he said he was already in talks with other world leaders on how to respond to the spreading autocratic tendencies in the continent.

Tinubu expressed deep concern over the coup d’état in Gabon and stressed that he firmly believed power belonged to the African people, and not the barrel of the gun.

18. ASSENT TO Bill ON NEW RETIREMENT AGE FOR JUDICIAL OFFICERS One of the legislations signed into law by Tinubu was a bill unifying judicial officers' retirement age to 70, which he assented to on June 8. The bill unified the retirement age and pension rights of judicial officers.

A statement issued by the State House Director of Information, Abiodun Oladunjoye, stated, "With the signing of the constitutional amendment bill, retirement age and pension rights of judicial officers have been effectively brought into uniformity and other related matters."

While signing the amendment bill into law, Tinubu pledged his administration’s determination to strengthen the judiciary, ensuring the rule of law and empowering judicial officers to execute their responsibilities effectively.

19. APPOINTS, REJIGS NDDC BOARD The president approved the appointment of board and management of the Niger Delta Development Commission (NDDC). He named Chiedu Ebie from Delta State as Chairman, while Samuel Ogbuku from Bayelsa State was appointed Managing Director/CEO. Presidential spokesman, Ajuri Ngelale, said the president expected a new era of successful administration.

“The president expects that the new board and management team will ensure a new era of successful administration in the NDDC, in line with his Renewed Hope agenda," Ngelale said.

But the appointment triggered protests across the Niger Delta, forcing the president to rejig the board.

He subsequently replaced the nominee from Ondo State, Victor Akinjo, with a new nominee from the state, Hon. Otito Atikase.

The president also approved the immediate replacement of the NDDC’s Cross River State representative, Asi Okang, with Hon. Orok Duke.

20. REPLACEMENT OF NASENI CHAIRMAN

Tinubu was one of nine heads of state invited to join world leaders at the elite G20 Summit in New Delhi, India, which holds from 9th to 10th September.

Tinubu plans to use the opportunity of the summit to shop for more Foreign Direct Investments (FDI) for the development of the nation’s economy. The president intends to meet with a number of potential investors and woo them into having interest in investing in the Nigerian steel development, electricity generation, transmission and distribution, shipyard building capacity and many others, which are labour-intensive and can create job opportunities for Nigerians.

According to the presidential spokesman, Ajuri Ngalele, the president would be meeting with a cross section of heads of state as well as industrial leaders, titans, chief executive officers of some of the world’s most valuable companies, particularly those of Indian origin.

Ngalele stated recently that Nigeria was weighing the benefits and risks of joining the elite Group of 20 nations.

With Tinubu's invitation, Nigeria has taken some bold steps on the international scene. Neither President Goodluck Jonathan nor former President Muhammadu Buhari were invited to participate in G20 summits during their times in office.

Other invited alongside Tinubu are the presidents of Bangladesh, Egypt, Mauritius, Netherlands, Oman, Singapore, Spain, and UAE.

23. SEEKING GLOBAL SUPPORT TO FIGHT TERRORISM As part of his multi-approach towards addressing security and terrorism challenges in Nigeria, Tinubu called on the United Nations to be more practical in supporting the country in the fight against terrorism.

In an audience with Under-Secretary-General of the United Nations Office on Counter-Terrorism, Mr Vladimir Voronkov, at State House, the president observed that terrorism had consistently reversed the gains on development and increased instability in families and communities.

While appreciating the UN their work, Tinibu said, “We know that in the face of many demands and challenges, you can still do much better. We can score you ‘A’ in collaboration but ‘B’ in physical support. You have to do more because terrorism is an effective danger to democracy; terrorism is also an effective danger to development."

24. UNSUCCESSFUL DIALOGUE WITH LABOUR Labour unions in the country have gone on demonstrations twice since the removal of petrol subsidy, following the inability of the Tinubu government to successfully dialogue with them.

After a successful nationwide protest in the first week of August, the Nigeria Labour Congress (NLC), a leading trade union centre in the country, called out its members for a two-day warning strike between September 5 and 6 over what it termed the failure of the Tinubu government to provide post-petrol subsidy removal palliatives, among several other demands by NLC.

25. DESPITE FX UNIFICATION SUPPLY REMAINS A PROBLEM Despite the unification of the forex rates, supply remains a problem in the market which has led to a significant increase in the arbitrage gap. That has had significant impact on petrol prices, leading to more labour unrest. For instance, before the unification of the forex rates, the naira was trading around N460 to a dollar on the official market, but now it goes for about N750 to a dollar on same market, with arbitrage gap of about N300 to a dollar.

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

NEWS

TINUBU IN NEW DELHI, INDIA...

President Bola Ahmed Tinubu (middle) being welcomed on arrival in New Delhi by the Chairman and CEO of the Hinduje Group of companies Mr Gopichand Hinduje to attend the G20 Economic Summit in India... yesterday

FG Declares Petrol Subsidy Removal Irrevocable, Rallies Banking Sector World Bank: With right policies Nigeria can achieve 7% growth Financial sector key to actualising development agenda, says Bagudu Shonubi: Banking industry not doing enough for economy James Emejo in Abuja Vice President Kashim Shettima, yesterday declared that the decision to end the petrol subsidy regime by the administration of President Bola Tinubu was irrevocable as he rallied the financial sector to support current efforts aimed at returning the economy on the path of inclusive growth.

Shettima, said the removal had already increased the amount of monthly revenues distributed among the federal, states and local governments to meet their financial obligations and enable them to serve the people better.

He added that the administration was working towards a future where no leader would grumble over the

lack of funds to pay salaries or complete projects.

It came as the Nigeria Country Director, World Bank, Mr. Shubham Chaudhuri, said with the right mix of policies by the government, the potential for seven per cent GDP growth could be unleashed and further taken to double-digit, adding that subsidy removal added about 2.5 per cent to Nigeria’s Gross Domestic Product (GDP).

Also, Minister of Budget and Economic Planning, Senator Abubabar Bagudu, said the bold policy initiatives currently being implemented by the Tinubu administration would ensure a return to macroeconomic stability, promote inclusive growth as well as lay a foundation for the achievement of double-digit growth

in the economy.

In his contribution, the acting Governor, Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, tasked the banking industry to set a realisation benchmark for contributing to the growth of the economy, particularly in the aspect of enhancing credit to the private sector.

The apex bank boss said though the industry had lived up to expectations in real sector interventions during the COVID-19, its contribution to GDP at 3.6 per cent remained below average compared to the telecommunications industry’s 16.2 per cent.

They all spoke at the opening of the 16th Annual Banking and Finance Conference with the theme: “Nigeria’s Economic Growth and

Empowerment: The Role of the Financial Services Industry” which was organised by the Chartered Institute of Bankers of Nigeria (CIBN).

The vice president who declared the meeting open said the banking industry remained a strategic partner in actualising the present administration’s eight-point agenda aimed at repositioning the economy.

He said the agenda cannot be successfully implemented by the government without the cooperation of the financial sector, assuring that the government would not take their support for granted.

Promising hope, Shettima also declared that Nigeria, the “sleeping giant of Africa has awakened from slumber”, and described Tinubu as a man of courage who is determined

to redefine the concept of modern leadership.

He further stressed that the bold policy actions so far taken by the government including the foreign exchange convergence and subsidy removal were taken in the best interest of the economy.

The VP said rather than the lack of potential, leadership remained the missing link adding that Tinubu was prepared to fill the gap.

He noted that the future of the country was in the ability of the youths to take advantage of digital technologies coupled with the country’s ability to apply value addition to raw materials for export.

To this effect, Shettima said the federal government was partnering with the banks to impart digital skills

Blue Economy: I'm in Hurry to Make Impact, Oyetola Declares Says ports must be saved from imminent collapse Inspects facilities at Apapa, Tin Can ports Yinka Kolawole in Osogbo and Kasim Sumaina in Abuja The Minister of Marine and Blue Economy, Adegboyega Oyetola, has declared that he was in a hurry to make impact in the ministry.

Oyetola, who noted that he had no business in the ministry if he cannot make an impact, solicited the support of the management and staff of the Nigerian Ports Authority (NPA), and other critical stakeholders within the sector to realise President Bola Ahmed Tinubu's Renewed Hope Agenda in the sector.

He said this during his meeting with the management and staff of the NPA, shortly after his inspection of facilities at the Apapa and Tin Can ports in Lagos.

The former Osun governor said going by the decay in infrastructure he saw at the ports, there was an urgent need to commence infrastructure renewal of ports across the country so as to save them from imminent collapse. He also encouraged terminal operators to invest in the development of facilities at the ports.

The minister assured that enough scanners would be deployed to the

ports to avoid unnecessary delays, noting that where the scanners already exist, he would interface with concerned government agencies to ensure their proper usage for efficiency at the ports.

Speaking further, Oyetola said: "As you are all aware, we all have a duty to reposition this sector for the welfare and wellbeing of Nigerians and to contribute to the economic growth of our nation.

“By doing this, we will be leaving a lasting legacy for generations to come.

I, therefore, enjoin you to be good ambassadors of this newly created ministry by displaying the highest level of character at your respective duty posts.

“Your attitude to work must change. We must imbibe the ethos of hard work, discipline, decency, and selflessness as this is the only way we can deliver on Mr. President’s Renewed Hope Agenda.

"Nigerians expect a lot from the Ministry of Marine and Blue Economy. We must not fail them.

We must increase our contribution to the country’s GDP. We have identified some of the low hanging fruits that

will make an immediate impact.

“We shall vigorously pursue them.

I am in a hurry to make an impact. I have no business heading the Marine and Blue Economy Ministry if I cannot make an impact. I want to make an impact. But I cannot do it alone. I

need your cooperation. I need your support.

“We have the potential to grow our economy and create more jobs through this novel ministry. We must put everything to work to deliver on the Renewed Hope Agenda of

Mr. President.”

Speaking further, he said: "We fully understand the crucial importance of our ports to the nation's economic development and international trade.

We shall, therefore, work towards improving the operations of our ports.

to the youth as well as develop the economy.

Bagudu, however, pointed out that the financial sector was indispensable in achieving double-digit growth which he said was realisable, adding that the actions so far embarked upon further buttressed the seriousness of the government to grow the economy.

The minister said the banks were well-positioned in helping to actualise the government’s promises to Nigerians, especially in the areas of enhancing access to credit that would stimulate economic activities.

He also said going forward, the nation’s budget would be plan-based and well-monitored.

While acknowledging the contribution of the financial sector to the economy, he said more was required from them.

Nonetheless, in his keynote address, the World Bank country director said for Nigeria to accelerate growth, public spending must be raised to between 15 per cent and 20 per cent of GDP, adding that it currently remained low at 12 per cent in the last five years.

He also said financial intermediation by banks to the real sector needed to be improved from the current 15 per cent to 40 per cent in peer economies.

Continues online

Heirs Insurance Group Posts N20bn Revenue in 2022 Records N2.7bn underwriting profit, N2.6bn claims paid in review period Dike Onwuamaeze Heirs Insurance Group, comprising Heirs General Insurance (HGI) and Heirs Life Assurance (HLA), have announced a record-high 226 per cent jump in Gross Written Premium (GWP), from N6.1 billion in 2021 to N19.9 billion for the financial year ended December 31, 2022.

With the strong performance sustained in its second year of operations, Heirs Insurance Group has become the fastest-growing insurance group in Nigeria.

The figures were disclosed in the NAICOM-approved 2022 financial statement, audited by PricewaterhouseCoopers (PwC).

The financial statement explained that Heirs Insurance demonstrates Tony Elumelu’s Heirs Holdings’ desire to disrupt the Nigerian insurance market, bringing value, great customer service and relevant products to the mass market, delivering on the mission of providing insurance for all, not just for some.

According to the results, Heirs Life, the specialist life insurer recorded a 326 per cent increase

in Gross Written Premium (GWP), from N2.7 billion in full year 2021, to N11.5 billion in full year 2022.

Heirs Life also announced a 494 per cent growth in life funds, from N1.7 billion in 2021 to N10.1 billion in 2022.

“Heirs Life made total claims payouts of N1.5 billion in 2022, a 484 per cent increase from N257 million paid out in 2021, in accordance with its promise of providing relief to its customers, quickly and efficiently, in times of loss.

“In addition, the company’s underwriting profit grew by 109

per cent, from N670 million in 2021 to N1.4 billion in 2022, with a profit before tax (PBT) growth from a loss position of N279 million to a positive position of N350 million in 2022, a 226 per cent jump.

“Heirs General Insurance, the Group’s non-life insurer, recorded a 143 per cent increase in Gross Written Premium (GWP), from N3.5 billion in full year 2021 to N8.5 billion in full year 2022 and a profit before tax (PBT) increase of 157 per cent, from a loss position of N862.1 million in 2021, to a profit of N499.4 million in 2022.

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NEWS

WIKE TOURS AFFORDABLE HOUSING SCHEME SITE AT WASA DISTRICT...

L-R; Coordinator, Satellite Towns Development Department (STDD) Olusegun Olusan; Permanent Secretary, FCTA,Olusade Adesola; with the FCT Minister, Nyesom Wike, during the minister's visit to PHOTO: KINGSKEY ADEBOYE the affordable housing scheme site at Wasa District, Abuja ...yesterday

Shonubi: CBN Working with Banks to Clear FX Backlogs in Two Weeks Says apex bank still intervenes in market Set to clampdown on firms involved in illegal FX deals Kayode Tokede The Acting Central Bank of Nigeria (CBN) Governor, Mr. Folashodun Shonubi, has disclosed that the apex bank was working with commercial banks to clear the unsettled foreign exchange (FX) backlog in the next two weeks.

Shonubi, stated this in Lagos, while speaking on the role players in the FX market should play to ensure there was liquidity in the system, especially, the Bureau De Change (BDC) segment of the market.

He said the CBN and commercial banks in the country have been working towards clearing the backlog that was variously put between $2 billion and $2.5 billion.

According to him, “We have been working at the central bank with commercial banks on various structures to clear it. As a matter of fact, there’s a large amount of the obligations that the banks in Nigeria have already taken off.

“So what happened was at that maturity, they actually made the FX available for those who needed to use it, the importers and what have

you. So, we are discussing with them so that we can restructure their own.

“Some customers who still have their own obligations with their banks are being addressed by the banks and our structure with the banks in Nigeria was to clear that backlog.

“It is something we’ve been discussing for a while and we expect that we will clear it within the next one or two weeks.

“Today we still intervene in the market When you look at the volumes, the CBN today contributes less than 25 per cent to the FX market. Years ago, the CBN did not want to be a regular player but more of intervening to stabilise the rates and that is where we are going.

“There’s so much FX that people do not talk about that is being made available through the banking system that banks are sending to their customers. It does not come to the CBN and it does not appear as part of the demand that comes to us and it is significant.”

He has disclosed that the apex

bank had concluded its investigations and was set to clamp down on Crown Agent, among others over involvement in illegal FX transactions.

According to him, “For the last few weeks, we have been

investigating and there’ll be quite a number of players out there that have been bringing in money and selling in less than official ways.

“One of those that we have investigated recently is Crown Agents. We have reason to believe

that Crown Agents have been working with international agencies who rather than bring the money through the normal system, pass through them and they will then sell to Nigerian companies rather than doing the proper thing.

Tinubu Arrives India, Meets with Hinduja Chairman Says he's ready to break bottlenecks to attract investors Deji Elumoye in Abuja President Bola Tinubu, yesterday, arrived in New Delhi, capital of India and went into an investment meeting with Mr. Mr Prakash Hinduja, Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion U.S. Dollars.

The Indian industrialist was received by the president within 90 minutes of his arrival in India for a meeting, which began around

8:00pm local time.

Accompanied to the meeting by Nigeria's Ministers of Finance, Trade & Industry, and Foreign Affairs, the Nigerian President, according to a release by his Media Adviser, Chief Ajuri Ngelale, told his first visitor that he was in India with one focus: attracting investments to Nigeria with lucrative opportunities for investors, but most essentially, jobs for Nigerians and new revenue opportunities for Nigeria's federal and sub-national governments.

Tinubu said, "We are here for

business. I am here to personally assure our friends and investors that there is no bottleneck that I will not break. Nigeria will become one of the most conducive places on earth to make good profits and create lasting jobs.

“With my support, there is nothing standing in your way of enjoying the unrivaled opportunities presented by our massive market and the ingenious & hardworking nature of the Nigerian people. We are open for business."

On his part, Hinduja told Tinubu

Nigeria Still a State, Not Nation Yet, Says Jonathan Fayemi: Winner takes all not good for democracy Ezekwesili: Corrupt leaders, not democracy, failed Africa Chuks Okocha in Abuja Former President Goodluck Jonathan, yesterday, said Nigeria was not yet a nation, but a state since it was governed by set rules in the constitution.

In the same manner, a former governor of Ekiti State, Dr. John Kayode Fayemi, said since liberal democracy was gradually falling in Africa, proportional democracy should be given a chance as the predisposition to winner takes all was not good for the system.

At the same time, a former Minister of Education, Mrs. Oby Ezekwesili said democracy has not failed Africa but corrupt leaders has failed in governance.

All of them spoke at "a national dialogue on how to make Nigeria work in honour Prof. Udenta O Udenta at 60 and the presentation of his 21 Books" Jonathan said the 1914 amalgamation did not unite north and south but merely an economic process, saying, "I am not blaming our forefathers but it failed to integrate us into a proper nation, we operated as individual interest and so on.

"And, of course, if you’ve read some of the comments of our former leaders, like Awolowo made it very clear that there is no nation called Nigeria. Yes, it is a geographical entity; it is a country, it is a state, it has laws but there is no nation.

"The country was so polarised

“They can expect to hear from us shortly and they will not be the only ones. Also, BDCs that cannot go electronic will be fading out of the system because we do not believe that we should still be heavy into cash.”

especially during the early political party formation and the parties were regional parties, there was no sense of commitment to integrate Nigerian into an entity that you can say, yes, this is a nation with core…with common philosophy and people will be patriotic to that nation, most of the parties belong to regions, then there were so alliances for the purpose of ruling the country.

"And always when I compare Nigeria and a county like Tanzania, incidentally I am going to Dar Salam tomorrow, I feel that Julius Nyerere, so celebrated. His own vision then was to make Tanzania a nation, yes they have different tribes, maybe not as many as Nigeria but he claimed that we probably have the same

but I am not sure that we have the same.

"They have two major religions, Christianity and Islam, it is almost 50-50. Zanzibar is almost 90%...is major part of Tanzania. Nyerere felt that look, if I go through multi-party that is his philosophy, I am not saying multi-party is the best for Nigeria, now or as that time, I am just saying what leaders do to create nations.

"He said if I go multi-party, the parties may take regional cleavages or go into religious cleavages, maybe you will have a Christian party, a Muslim party and so on and that when we go that way, they will have problems, the country will be divided and that sense of nationality will not be there, that is why he

advocated for one party.”

In his key note address, Fayemi who quoted former President Olusegun Obasanjo, said since liberal democracy was failing, "what Nigeria needed was alternative politics" According to him, "What we need is proportional representation, as it would be unfair where a winner with 37 per cent of the votes cast takes 100 percent spoil," maintaining too that the 1914 amalgamation was not a mistake as it did not create Nigeria.

"No nation was delivered as a perfect union,” he said, citing the political crisis in the United States, when Donald Trump wanted to use undemocratic measures to keep himself in power.

that he was a living witness to his landmark effort as governor of Lagos in turning a coastal erosion and water encroachment crisis into a massive free trade zone, where industry now thrives.

This, he said, was partially responsible for his excitement to partner Nigeria's new president to create win-win prosperity for Nigeria's talented population.

"We believe in you as a leader, who has done this before. You know what the challenges are. You know how to fix them. We are going to make investments into the billions of dollars under your leadership, because we see you are already addressing the systemic problems.

“I am ready now to sign an MoU and to begin execution. You tell me who to liaise with and we will get to work immediately, particularly with respect to bus and automobile manufacturing in Nigeria, amongst other areas," he said Responding, the president said, "Ministers of Trade and Finance, the two of you will follow this up immediately and you will draw up the terms to the satisfaction of both parties. If there are any issues at all which require my intervention, they must be brought to my attention immediately."

Excited, Hinduja said, "I have had paperwork stalled in Nigerian bureaucracy for over one year, especially in FCT, but I knew that you would be purpose-driven in this endeavour and God will help you to turn Nigeria's rich promise into rich reality for all of its citizens."

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NEWS

NCC’S QUARTERLY MEETING OF TELECOM INDUSTRY WORKING GROUP...

L-R: Lagos Zonal Controller, Nigerian Communications Commission (NCC), Henry Ojiokpota; Assistant Director, Financial Services, NCC, Chika Anohu; Executive Commissioner, Stakeholder Management, NCC, Adeleke Adewolu; Head, Compliance Monitoring, NCC, Isa Olatinwo; Executive Secretary, Association of Licensed Telecom Operators of Nigeria, Gbolahan Awonuga and Ibadan Zonal Controller, NCC, Dr. Olubunmi Bamijoko, during NCC’s quarterly meeting of Telecom Industry Working Group on Multiple Taxation and Regulations in Ibadan, Oyo State, ... yesterday

PEPT: Labour Raises Concern over Comments By Odili Count me out of your political bias, justice fires bullies PDP chief, staff resort to seven days prayer, fasting Chuks Okocha in Abuja and Wale Igbintade in Lagos Ahead of today's judgement by the Presidential Election Petitions Trribunal, the Labour Party has raised concerns over comments by a retired Supreme Court Justice, Justice Mary Odili, describing it as unguarded.

But Mrs. Odili, has cleared the air on her speech made on September 1, advising litigants across the country not to bring down the roof of the country, saying it was directed at all political parties.

This was as the staff of the National Secretariat of the Peoples Democratic Party(PDP), have resorted to seven days fasting and prayers for God’s intervention.

At the same time, a former governor of Adamawa State and Chairman, PDP Christian Religious

Body 2023, Mr. Boni Haruna, has admonished party members and Nigerians, to not despair because there was still hope.

The Labour Party, in a statement by its National Publicity Secretary, Obiora Ifoh said, "The unguarded statement from the former Justice of the Supreme Court of Nigeria, Justice Mary Odili in Abuja last week at a colloquium to mark the 25th anniversary of the elevation of a renowned jurist, JK Gadzama to the rank of Senior Advocate of Nigeria, and the boasting of some persons, ministers and notable legislators about the outcome has left our party in shock.

"When those who should know the importance of the sanctity of the judiciary descend to the arena of abusing it with their preemptive utterances just to show loyalty and

support to their interests, we as a party see this as unfortunate and dangerous to our democratic journey as a nation.

"We note also the needless lavish showering of praises on the legal counsels of both APC and Candidate Bola Ahmed Tinubu by the retired Justice, when the gathering was not theirs. We find this extremely undignified of a renowned jurist, who rose to the peak of her career in the country's apex court and who as the Chairperson of the body of benchers, should be at the forefront of defending the virtuousness of the courts."

The Labour party said sit was also curious to every discerning mind watching the unfolding events in Nigeria since the February 25th Presidential election that the PEPC that refused live television coverage

of the hearings of the petition, was now anxious to have the conclusion beamed live.

"What is it that has happened between the hearing period and the delivery of the judgment that the live coverage which they claimed was a policy issue changed suddenly at the delivery point?

"We are aware of the efforts of the agents of the states to orchestrate problems and blame them on the political opposition. We wish to emphasise that it is the right of the people in a democracy to demonstrate and the obligation of state security agents to protect the demonstrators and those not demonstrating,” it said.

However, in a reaction signed by her Media Assistance, Chief Felix Enebeli, Justice Odili described those who attempted to misconstrue her advice as ‘mischievous conflict

FG Inaugurates Contracts Management Team for Concession of Nine Highways Emmanuel Addeh in Abuja The federal government yesterday unveiled members of the Contracts Management Team (CMT) for the concession of selected roads in the country under the Highways Development and Management Initiative (HDMI).

Performing the task at the headquarters of the ministry of works in Abuja, the Minister, David Umahi, explained that the public/private initiative had been in the works for three years, stressing that it has now reached the critical stage of contract implementation.

The 12 roads initially planned for concession under the first phase of the initiative were: Benin–Asaba; Abuja– Lokoja; Kano–Katsina; Onitsha–Owerri–Aba; Shagamu–Benin; AbujaKeffi–Akwanga; Kano–Maiduguri; Lokoja–Benin; Enugu-Port Harcourt; Ilorin-Jebba; Lagos-Abeokuta; and Lagos-Badagry. However, only nine of the roads attained commercial close.

The main objective of the HDMI, which seeks to facilitate the development of parts of Nigeria's 35,000km of federal highway network, is to attract expertise and investment in the development of road infrastructure as well as maximise the use of assets along the Right of Way (RoW).

Umahi, who was represented by the Permanent Secretary in the

ministry, Mahmuda Mamman, noted that he expects that the same hard work during the contract preparatory stages would be doubled during the current phase.

“It is PPP’s best practice to have a contract management team and you have been carefully selected based on your potential and the value you bring on board.

“You are, therefore, the administrative personnel responsible for liaising with the concessionaires on matters relating to the management of the contract,” Umahi stated.

He added that the idea of including senior executive management representation from each concessionaire on the team was to ensure seamless work and interactions.

Also speaking, the permanent secretary, Mamman, explained that the HDMI was created by the ministry to manage and develop the federal road networks.

Mamman stated that it was established, to amongst others, bring order, accountability, and profitable entrepreneurship to the operations, management, and maintenance of federal highways.

He noted that the initiative had attained very important milestones, with the most recent being the commercial close executed in May, 2023.

“Today’s event is therefore another significant milestone aimed at ensur-

ing compliance with the provisions of the executed contract,” he stated.

He recalled that the concessionaires were required to incorporate Special Purpose Vehicles (SPVs) for the execution of the contract, accordingly.

The Head of Public Private Partnership (PPP), Mrs Abimbola Asein, listed representatives of the team as persons from: works ministry and ministry of justice, environment, Federal Road

Maintenance Agency, Infrastructure Concession Regulatory Commission, Bureau of Public Enterprise, Debt Management Office and ministry of finance.

Also speaking, the Director, Transport Infrastructure at the ICRC, Mohammed Bamali, said that the management team must ensure that parties keep strictly to the terms and conditions of the contracts.

entrepreneurs’ determined to force her speech to fit their jaundiced narratives and political nuances.

She acknowledged that the 2023 general election “generated a storm” and advised all those who were not declared victorious in the elections to toe the line of legality and follow the rules of law, in expressing their dissatisfaction through appropriate channels and not “pull down the roof of the nation” because of its far-reaching consequences on every one, including all agitators, regardless of what side of the fence they found themselves. Surely, this is common sense advice.”

The statement read: “Our attention has been drawn to the unfortunate skewed social media interpretation inflicted upon the innocuous speech made by Hon. Justice Mary Odili CFR, retired Justice of the Supreme Court, during the colloquium organized in Abuja on Friday, 1st September, 2023 to mark the 25th anniversary of Chief Joe Kyari Gadzama as a Senior Advocate of Nigeria.

“The event was themed: ‘The Nigeria of our Dreams: A Call to the Patriots’. Since then, some mischievous conflict entrepreneurs have been hosting comments from persons determined to force her speech to fit jaundiced narratives and political nuances. Justice Mary Odili spoke like one ‘who saw something and said something’ without minding whose ox is gored.

“It is emphasised that there is nothing in the comments that suggested a reference to those who lost in any particular election in any state or

region. The 2023 general election was in four categories: the state Houses of Assembly, governorship, National Assembly, and presidential elections.

“Moreso, the lawyers who attended the events, especially the named ones, were called upon, in their professional capacity, to find solutions to the challenges facing the 2023 elections irrespective of their leanings. Wole Olanipekun SAN is the immediate past Chairman, Body of Benchers who handed over to Justice Mary Odili.

“Lateef Fagbemi SAN is the Hon. Attorney General and Minister of Justice of Nigeria and the Host J. K. Gadzama SAN is a known lawyer, who has done several cases for the PDP. These lawyers are globally acknowledged as strong in litigation.

“The several other lawyers in attendance are possibly handling various cases for politicians. The unprovoked vituperations are a sad reflection of the reason for the cautionary comments of Justice Mary Odili, and the vain struggle to give it momentum to political gains is unhelpful.”

Meanwhile, the PDP prayer session, which commenced at about 1.00 pm at the PDP Chapel, Wadata Plaza, Wuse Zone 5, on Tuesday, had some chieftains of the party in attendance THISDAY gathered that the party’s members of staff were locked in a series of prayers asking for divine intervention as the tribunal delivers judgement on the case instituted by the PDP Presidential Candidate, Atiku Abubakar, against the declaration of Bola Tinubu as winner of the February 25, 2023 Presidential election.

Firm, LSETF Commit N3bn to Train 20,000 Tech Talents in Five Years

Emma Okonji

Ingryd Academy, in partnership with Lagos State Employment Trust Fund (LSETF), is set to train 20,000 middle-level people across Africa on tech skills in the next five years, through a scholarship scheme.

The initiative is to train, empower and facilitate job placement for all the trainees that would be part of the six-month scholarship scheme, designed to bridge the technology skills gap across Africa.

The Ingryd scholarship programme would focus on critical tech skill sets such as Java, Linux, Cybersecurity, and Data Science, and will train 4,000 individuals annually in the next five years, beginning with 1,000 participants every quarter of the year.

Announcing the initiative in Lagos, at a press conference yesterday, the CEO of Ingryd Academy, Khadijat Abdulkadir, said Ingryd would invest N3 billion over the next five years, in training 20,000 tech talents across Africa, while LSETF would facilitate the selection process of the trainees and their job placement.

The Director of Programmes and Coordination, Lagos State Employment Trust Fund, Omolara Adewumi, said the selection process would begin this month and was open to all interested Nigerians and Africans willing to develop Africa’s tech ecosystem.

According to her, the programme would welcome its first cohort of 1,000 participants in October this year, followed by three additional

cohorts of 1,000 participants each, over the next 12 months.

The phased approach which would run for the next five years would ensure that each participant receives comprehensive and impactful learning experience and job placement, Adewumi said.

The partnership aims to provide aspiring tech professionals with the skills, knowledge and resources they need to succeed in a rapidly evolving tech landscape.

The six-month curriculum includes a three-month paid internship, enabling participants to gain practical experience and apply their newly acquired skills.

“Based on the partnership with LSETF, the Ingryd scholarship programme envisions a future where Africa’s tech talent rises to

its full potential, driving innovation, and propelling the continent to the forefront of the global tech landscape.

“Together, we are not just closing the tech talent gap, we are also opening doors to endless possibilities, empowering aspiring tech professionals, and shaping a brighter, more innovative Africa,” Abdulkadir said.

“The partnership represents a collaborative effort to address the skills gap in the technology sector, promote job creation, and empower Lagos residents with valuable skills for a rapidly evolving industry.

“It highlights the importance of public-private partnerships in driving economic development and fostering talent development in the region.

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POLITICS

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

Quest for National Unity as Nigerian Governors Meet in Rwanda Chuks Okocha writes on the outcome of the recent leadership retreat organized by the United Nations Development Programme For Nigerian Governors In Kigali, the Rwandan capital.

Soludo

B

efore the euphoria and criticisms that greeted the threeday seminar organised by the United Nation Development Programme (UNDP) for the Nigerian Governors die down, there are indeed some lessons that Nigeria and indeed Nigerians could learn from the seminar that took place in Kigali.

From April to June, 1994, over 800,000 Rwandans were brutally killed in a state led genocide targeting the Tutsi ethnic group. Record has it that about 75 percent of the Tutsi population died in the mass killings.

It was a bitter genocidal war between the Hutsi and the Tutsi because of leadership struggles between the two tribal groups. What took place in Rwanda has great lessons for Nigeria because of the dominance of tribal issues between the various ethnic groups in Nigeria.

One of the banes of developments in Nigeria is tribe and religion, to the extent that it is a constant reminder in anything Nigerians do.

But the seminar organized by the UNDP has shown the Nigeria governors who are the chief executive officers in their respective states how the Tutsi and the Hutsi gradually eliminated this monster in their country.

The governor of Anambra state, Prof.

Chukwu Soludo in his narrative of his participation with 18 other Governors spoke of his experience, while attending the UNDP-NGF seminar in Kigali.

According to him, during a tour of the grave sides of the genocide in Kigali, one of the governors asked their tour guide which of the Hutsi and Tutsi tribes does he belong to Soludo explained that the tour guide humbly replied the governor, “In Rwanda, we don’t belong to any tribe.

We are simply Rwandans’”.

The former Central Bank of Nigeria (CBN) governor said he and colleagues felt a cold sweat with the answer from the tour guide. He explained that the answer should serve as a lesson to the tribal bigots in Nigeria that are always fanning the embers of war especially during elections.

Despite cost criticisms against the seminar taking place out side Nigeria, the Anambra state governor explained that it cost all the 19 state governors not a single kobo as the cost was borne by the sponsors, UNDP, as he attended the seminar with only an aide like his colleagues.

Soludo explained that the venue of the retreat was perfect as it prevented the governors from being distracted by job seekers.

At the end of the retreat in Kigali,

Sani

Rwanda, the Nigerian governors reiterated that effective leadership was in high demand in Africa.

They went further to acknowledge that Nigeria was battling a huge trust deficit, stating that there is need for dialogue to find a lasting solution to the problem.

The communiqué of the retreat signed by NGF Director of Media, Abdulrazaque-Bello Barkindo, Christabel Chanda-Ginsberg, and Michelle Mendi Muita, both of UNDP, identified Nigeria’s challenges as a complex web stressing that the governors expressed their readiness to understudy Rwanda’s post-war development programmes as a critical takeaway.

The communique said “Nigeria faces a complex web of interconnected development challenges stemming from a huge trust deficit, an economy highly dependent on oil exports, a job crisis and growing youth population, rising insecurity and separatist agitations, and a growing number of multidimensionally poor.”

The Director General of NGF, Asishana Okauru, in the same statement, explained that “as a non-partisan organisation and policy arm, the Nigeria Governors’ Forum, organised this gathering with the objective of fostering transformative leadership and facilitating honest, frank and open dialogue to shape

Makinde

the discourse on these cross-cutting themes.”

The three-day retreat, with the theme, “Re-imagining leadership in a fastchanging world,” was attended by 19 governors. They engaged in sessions that explored Rwanda’s successful investment destination, transformation in digital technology, urban planning, and socio-economic transformation, capping it with a private dialogue with President Paul Kagame.

UNDP Resident Representative in Nigeria, Mohamed Yahya, stated that the retreat “offers an opportunity to re-imagine Nigeria’s leadership to achieve transformation and nationwide sustainable development”.

According to the communiqué: “In Africa, effective leadership is in high demand, with recent political challenges and socio-economic crises continuing to adversely impact qualitative advancements toward the attainment of the Sustainable Development Goals (SDGs) and the realisation of the African Union’s Agenda 2063, which aspires toward a peaceful, stable and prosperous Africa.”

Quoting the opening remarks of Director of the UNDP Regional Service Centre for Africa, Matthias Z. Naab, the communique said, “adaptability in leadership has never been so urgent, globally and in Africa.

“Adaptive leaders possess the unique ability to not only acknowledge the challenges that come their way, but to also harness them as opportunities for growth and innovation.”

Further quoting the Rwanda Development Board and the Mayor of the City of Kigali, Norrsken House, the com-

It has been an engaging retreat. I am glad a significant number of governors are here to be part of it so that, together, we can use the knowledge acquired.

Our discussions have equipped us with adaptive leadership strategies and pathways to effective governance and nationwide sustainable development.”

The retreat was dedicated to fostering dialogue on reimagining leadership and leveraging innovative technology, drawing inspiration from Rwanda’s transformative journey. Building on the Rwandan success story, the executive leadership retreat provided the governors with new strategies for tackling development challenges in their respective states.

muniqué stated that the retreat also focused on learning through dialogue – with sessions on rethinking leadership, leading systems, leading self and leading to deliver, as well as learning through observation.

It was an interactive programme exploring Rwanda’s emergence as an investment destination through visits and exchanges with the innovation hub.

In addition, the communique noted that the NGF had become a major link between government, development partners, and private organisations as they sought to reach all the 36 states in Nigeria.

It said in previous years, the level of cooperation had increased significantly as regards relations between the states and the federal government, particularly, on collaborative pathways to overcoming commonly shared development challenges.

The governor of Kaduna state, Senator Uba Sani, in his comments after the seminar said “After a deeply insightful and engaging retreat, we were hosted to a closing dinner by the Rwandan President, Paul Kagame.

“The closing dinner afforded us the opportunity of sharing ideas with His Excellency on a wide range of issues and concerns on Africa, our developmental and security challenges, and the pathway to a prosperous future for our continent. We thank President Kagame for giving us tips on how to manage diversity in an increasingly complex and fractious world.

Sani further said, “I used the retreat to showcase and market Kaduna State to Africa and the world. I held meetings with investors and got commitments from them to prioritise Kaduna State in their investment decisions.”

The communique also quoted one of the governors, the deputy chairman of NGF, Seyi Makinde of Oyo state, as saying, “It has been an engaging retreat. I am glad a significant number of governors are here to be part of it so that, together, we can use the knowledge acquired.

“Our discussions have equipped us with adaptive leadership strategies and pathways to effective governance and nationwide sustainable development.”

The retreat was dedicated to fostering dialogue on reimagining leadership and leveraging innovative technology, drawing inspiration from Rwanda’s transformative journey.

Building on the Rwandan success story, the executive leadership retreat provided the governors with new strategies for tackling development challenges in their respective states.

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Buhari and Verdict of Posterity Niyi Egbe writes about the eight-year regime of former President Muhammadu Buhari with a verdict that the administration performed below people’s expectations.

I

t’s over 100 days since ex-President Muhammadu Buhari left office as Commander in Chief of the Nigerian Armed forces.

Probably no Nigerian leader enjoyed as much goodwill as President Buhari when he started off as civilian President in 2015.

His selling point was No to corruption. He didn’t appear ostentatious and indeed, was quite modest. Hardly were there reports of fiscal corruption traceable to his person.

This anti-corruption disposition endeared him to people. For many, he was the true face of the leader that Nigeria needed.

For the Northern Talakawa or plebeian he was Mei-Gasikiya - the truthful, righteous person who keeps his words.

Nigerians rewarded him with endorsement expectedly higher in the North during the 2015 and 2019 elections.

Nigerians started getting disappointed when after an uncomfortable wait, rather than have professionals that would deliver some good to the nation, he recycled largely old hands as Ministers. He also hardly made needed changes unless hounded.

Sadly, it is to Buhari’s discredit that the parliament had to enact a law which makes it mandatory for future Presidents to announce their ministers in 60 days after being sworn in.

We also remember his being ill for about six months while in office. It generated so much concern especially with requisite tax payers money expended on his treatment overseas.

There were ugly sides to getting the nation to cope with a sickly President. Some scandalously cooked up narratives around a mysterious look alike called Jubril from Sudan claimed to be ruling the nation in his stead! Luckily, he later got well and settled down to business.

There were disappointing sides of the Buhari leadership. Appointments were divisive and were largely in favour of the North. Most appeals to him to have every part of the nation justifiably have a piece of the action fell on deaf ears. In particular, he seemed to have an axe to grind with the East. Painfully, he would defend his punishment of Ndigbo with explanations that they also denied him at the polls! The development ignited much angst from the East. Painfully so.

The disenfranchisement catalysed dissonance and stoked the fire of restiveness by separatist agitators. Most Easterners simply lost faith in the union. They saw no future in the nation. Some unfortunately made matters worse and have descended to the present ugly violent agitation and the overwhelming sit at home orders.

Buhari President Buhari tried to placate the East by delivering the much awaited 2nd Niger Bridge which he for exigencies of time didn’t physically attend its inauguration even when the people directly benefiting from the bridge in unison named the bridge after him.

There were other bright sparks.

There were quite a number of infrastructural development. To his credit, he constructed several rail lines. He delivered functional Lagos – Ibadan standard gauge rail lines in record time.

The railway modernization development story cut across several parts of the country.

It is also to President Buhari’s credit that he attempted carrying out reforms in the energy sector. He decided to supervise the oil sector directly. His reasoning for taking that decision could have been that as a former Petroleum Minister, he would know where the shoe was pinching and would plug loopholes.

During his Presidency, oil revenue plummeted to an all-time low which was a major economic management challenge.

His administration must, however, be commended for initiating oil sector reforms. The Nigerian National Petroleum Corporation was privatized, he achieved parliamentary endorsement of the Petroleum Act, and like his predecessor canvassed removal of fuel subsidy, the first challenge being managed by President Bola Tinubu.

There was the huge challenge of taming the Corona Virus which shut down the globe and plummeted oil prices. Twice the nation slipped into recession but bounced back. To his credit, there was visible infrastructural development.

Lagosians will remember him for the concrete paving of the Apapa – Oshodi - Lagos - Ibadan tollgate expressway which was fortified with massive iron network.

The Lagos – Ibadan express way which he inherited as the grave yard of several lives, unattended to by the Obasanjo regime, feebly attended to by the Jonathan regime, was virtually completed by his regime. Travel time on the road got reduced by over half. More important, motorists now travel safer, the road is largely no longer easily seized by robbers.

It is also to his credit that he insisted on growing the food the nation consumes internally. To encourage consumption of local rice, he had to shut borders and got the Central Bank to support internal food production. The strategy paid off, but for challenges of insecurity especially in the northern, eastern and middle belt farmlands, Nigerians now relish eating their home grown rice in unprecedented quanta.

Two issues namely insecurity and corruption dogged the Buhari regimeregime. He inherited rising insecurity involving bombings, murder of untold number of citizens and kidnaps. Criminal elements infiltrated the ranks of his Fulani herder kinsmen. There were rising cases of invasion of places of worship and countless incidences of kidnapping.Islamic fundamentalists in the names of Boko Haram and the Islamic State of West Africa terrorized the citizenry.

Inhabitants of axis of these mindless attacks hardly went to bed with their eyes closed.

The worst of such attacks was the cold blooded attack of St Catherine Catholic, Owo, Ondo State. The terrorist attack of Owo came across as a retaliatory response to the forefront roles of Governor Rotimi Akeredolu of Ondo State in mobilising his Western Nigeria contemporaries to set up Amotekun a regional vanguard to checkmate activities of marauding forces of evil in the face of failure of central government security agencies to adequately provide protection.

Nigerians were shocked and disappointed about Buhari developing cold feet in checking criminal elements who had infiltrated his Fulani kinsmen who had become merchants of evil and kidnapping. There was hardly any part of the nation that didn’t record cases of kidnap and cold blooded murder by some base minded Fulanis. His condemnation were largely delayed and lame.

He was clearly ethnocentric and protective of his ethnic grouping at the expense of the larger nation. Instead of heeding suggestions that Fulanis settle and embrace cattle ranching, he sought perpetuation of the nuisance and inefficiency in free ranging animals and thus, the attendant farmer -herder clashes. He thought of setting up Grazing reserves which the rest of the country resisted. His regime did so much damage that now, it will take wisdom to wholeheartedly trust the Fulani especially over their hegemonic tendencies again. President Buhari got to the seat of power campaigning against corruption.

Unfortunately, the initial strange phenomena of animals swallowing monies, people burying monies in pits and cleverly stashing away money in a myriad of brilliant ways waned. At the twilight of his administration, there were scandalous stealing of humongous sums of money. Buhari’s top government officials fed fat while the President characteristically looked on while the country burnt. The level of official meddlesomeness was high to the extent of some of his ministers contemplated contesting the Presidency. They paid huge sums as deposits to buy forms to the chagrin of an economically challenged citizenry. Most of them had embarked on subtle campaigns only backing down when they realized that a bird in hand was greater than that which in the bush.

At the twilight of his administration, there was heat on President Buhari from different fronts.

He had sown the wind through currency change and was reaping an unexpected whirlwind.

There was anger in the land and justifiably so.

Never had Nigerians had to suffer as much from an uncoordinated policy. It appeared a crime to spend monies they rightly owned.

The Presidency’s mission to frustrate money bags from buying positions hurt the innocent.

It hurt the electoral chances of the ruling party.

At a point, the candidate of the ruling party, the All Progressive Congress (APC), Bola Tinubu, cried out that he was the target of the policy.

The attempted currency swap was simply nightmarish, the pains excruciating. So bad, that it took a Supreme Court intervention to save the nation.

At about the same period, there was an unprecedented fuel scarcity in an election year.

Unthinkable in an election year!

-Egbe writes from Lagos NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Delta Stakeholders Want Due PIA Process for Host Community Trust Critical stakeholders in Delta State belief the best means to carry all oil communities in the state along is by abiding by the rules in setting up Host Community Development Trust.

C

oncerned political stakeholders in Delta State have canvassed for the due compliance with the provisions of the Petroleum Industry Act (PIA) in the setting up of Host Community Trust in the state.

It has, therefore, described as unnecessary the setting up of Iwere Host Community Trust by the Olu of Warri, Ogiame Atuwatse 11, contravened the Petroleum Industry Act (PIA).

The Forum of Concerned Indigenes of Oilproducing Communities said it contravened the provisions of the Petroleum Industry Act (PIA) and that it is also illegal for the monarch to propose the Iwere Trust to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for recognition.

In its view, the status of host communities is not synonymous with Itsekiri ethnic nation.

According to the group, PIA only made provisions for the establishment of Host Community Development Trusts (HCDTs) for oil-producing communities.

In a statement by its Chairman, Oritsejolomi Edema and Secretary, Amorigoye Ezekiel, the Forum said the monarch’s decision was being resisted by the host communities to the Otumara Oil Fields and Flow Station.

Tinubu It urged NUPRC not to give recognition to the Iwere Trust, insisting that it is against the PIA provisions.

The statement read in part: “Instead, the host communities, namely Ugborodo, Deghele and Ugboegungun, legitimately demand for the establishment of Otumara Host Community Development Trust and Ikpere Host Community Development Trust,

respectively, for a joint implementation of the PIA, with Shell Petroleum Development Company (SPDC), Chevron Nigeria Limited (CNL) and NUPRC as incorporated in the PIA. “The NUPRC to strictly adhere to the provisions of the law. The NUPRC should act only based on extant laws, which is the PIA and its accompanying regulations.

Anything outside the PIA breaches the Act” The Forum pointed out that the two groups recognised and referred to as settlors in the Act are the IOC and the host communities, which are expected to meet and bring people together to constitute the Trust.

It said the Olu and his Palace only established a Trust that agglomerates the entire Itsekiri nation as one host community, thereby usurping the rights of oil-bearing communities.

The group said the impression was being created that any Itsekiri Community, that is not a host to oil facilities, can lay claim and be illegally recognised by NUPRC. “The PIA only recognises host communities and not ethnic group, as done in the case of the general board of trustees constituted by the Olu of Warri, code-named Iwere Host Community Development Trust.

“This action is absolutely wrong and represents reckless digression from the

law. As an imposition, it denies host communities of their legitimate rights.

“The issue in contention is the demand that only host communities should determine their trustees and not the Palace of Olu. The PIA law has nothing to do with any kingdom. The word Iwere infact encompasses every Itsekiri Community of Warri.

The PIA does not authorize an ominibus inclusion of communities that are not host to oil facilities of the Federal Government.

“The Palace should not interfere in the arrangement between Abigborodo and NPDC. That arrangement was allowed to fly in accordance with the PIA, apparently because some prominent supporters and backers of the Palace are from that area.

“In the case of Abigborodo, NPDC did not go to the Palace. Both parties had their agreement signed and sealed independently. Is Abigborodo not part of the Itsekiri kingdom?

Why was the proper procedure adopted in the case of that community?

“With the preferential treatment given to Abigborodo, it has become very clear that the action of the Palace is purely targeted at some individuals in other host communities, especially in the case of Ugborodo, Deghele and Ugboegungun.

“This has to stop. The Olu and his Chiefs should be desirous of peace in the kingdom.”

22

T H I S D AY ˾ ʹ˜ 2023

FEATURES

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

Otti: Deeply Engaged in Systemic Cleanup for New Abia Emmanuel Ugwu-Nwogo reviews the first 100 days of governance in Abia State, since the election of Dr. Alex Otti as governor

B

y the time he was ushered into the government house Umuahia to preside over the affairs of Abia State, Mr. Alex Otti was no stranger to the goings-on in the state. Over the years he had consistently expressed sadness at the way those in power were running the state.

He relentlessly spoke against the absence of good governance in his state and felt he could make things better. Since 2015 when he took the first shot at the governorship race, Otti never looked back. He kept pushing until success smiled on him at his third attempt in 2023.

Shortly after he took the oath of office, Otti moved promptly to prevent last-minute looting of public funds by the outgoing government. He issued directive to freeze all Abia government accounts in banks and financial institutions in the country.

The new governor ordered the financial institutions not to honour any cheques, documents, instruments or directive of any kind not expressly approved by or emanating from him. He dissolved all boards of agencies and parastatals and ordered the chief executive officers to handover to the next in line of hierarchy.

Even before he was sworn into office, Otti had been showing signs of a man in a haste to turn things around for good in Abia.

He had brought a reputable construction firm to inspect roads in Aba which he intended to give priority attention on assumption of office. His action did not go down well with the outgoing administration which frowned at his conduct, saying that it was unbecoming of one who was yet to officially become the governor.

And when he finally took the reins of power, Otti declared state of emergency on three critical areas, namely environment (waste management), health and education. In fact, he immediately set up a task force that evacuated heaps of refuse apparently left for him across Umuahia and Aba by the past administration.

On June 1, the new government started taking shape when Otti named 22 aides comprising Special Advisers and Senior Special Assistants. But it rather took him long to assemble his cabinet members.

It wasn't until July 3 that he named his 19 commissioners, comprising Abians of "proven competence" in their various fields. The new cabinet to drive his vision for Abia was eventually inaugurated on July 7. Additional 24 aides - Special Adviser, Senior Special Assistants and Special Assistants, were later brought on board.

Armed with the full knowledge of Abia, its challenges and the vexatious underperformance of past governments, the new governor knew he was coming into a rotten, dysfunctional system.

He literally, met an augean stable that needed to be cleaned up. Otti knew the critical role of the civil service in determining the success or failure of any administration hence his first meeting was held with the Permanent Secretaries.

Without mincing words, he demanded from them "transparency in the conduct of government businesses". He made it clear that his government "must work, and anything that stands in the way, we will get it out."

Indeed, Governor Otti has been bulldozing everything he considers to likely constitute a stumbling block to his avowed mission of rebuilding Abia. The first casualty was the Director General of the Broadcasting Corporation of Abia State (BCA), Mr. Anyaso Anyaso. He was booted out and replaced with the Director of News and Current Affairs, Mr. Hyacinth Okoli.

Barely a month into his administration, Otti fired the State Head of Service, Mr. Onyi Wamah, and all the Permanent Secretaries in the state civil service, with the exception of two. Only the Clerk of the State House of Assembly, John Pedro Iroakazi, the Solicitor General of the State, Uzoamaka Uche Ikonne were spared the swinging hammer.

Since June 29, 2023 when the suspension of the top civil servants was announced nothing has been said about their fate and there is no sign they would still return to their offices.

In a spate of 24 hours after the Permanent Secretaries were blown away, the gale of sacking hit the state health training institutions, following allegations of sharp practices. The Principals of all the state-owned School of Nursing/Midwifery and the Director of Nursing, Ministry of Health,

Otti Dorothy Nwosu, were swept aside.

Earlier, the Rector of the College of Health Sciences and Management Technology was sacked and replaced with Aloysius Ekeleme Okezie. Similarly, the Rector of the Abia State Polytechnic, Aba, Hagler Okorie was sent packing.

Being among the three priority areas of attention, the health sector is being revamped.

For a start, Otti got the medical doctors under state employment to end their strike, which was carried over from the past government. He assured the physicians of better days ahead for the health sector, including improved staff welfare.

Otti is now engaged in the rehabilitation of three secondary health facilities across the three senatorial zones of the state. He has also introduced free medical services in selected general hospitals.

It kicked off in July and would run till the end of the year.

Otti delved into the gargantuan burden of debts placed on his shoulders by his predecessor. At the last count the governor said that he inherited about N200 billion debt from the past administration. There were salary arrears in the region of 30 months in parastatals and agencies of government. Retirees were also owed several years of pension arrears, in addition to unpaid gratuities.

The so called "core civil servants"(those in ministries), who were relatively immune from non-payment of salaries were left crying by Okezie Ikpeazu by the time he left office. He did not pay them April and May salaries and the arrears were passed on to the new administration.

To the relief of workers and pensioners, Otti did not shy away from the liabilities he inherited. He profusely sympathised with the Abia workers and pensioners over the shabby manner they were treated by the Ikpeazu government. He not only promised to clear the salary arrears on before December this year, but also ensure that salaries are paid regularly and promptly on or before the 28th day of every month.

So far, Otti has kept his word. Starting from June, Abia workers have been receiving their salaries on or before 28.

The salary arrears of April and May have

also been paid. The commissioner for information, Okey Kalu said that the December deadline for payment of all the inherited salary arrears remain sacrosanct to Governor Otti.

However, Otti is not comfortable with the payroll passed on to his administration by his predecessor. The governor lamented the government payroll is full of "fictitious figures and numbers that can't be confirmed". He is already addressing the issue. Otti has started forensic audit of the state workforce "to ensure that we will pay the right people".

This exercise has yielded good results to the delight of government. According to the Accountant General of the State, Njum Onyemenam, no fewer than 2, 300 ghost workers have already been discovered among the state workforce. This translates to savings of N250 million for government, so far, using the unified payment system.

Not only that, Onyemenam further stated that government has saved additional N220 million from the verification exercise in the local government system.

Even in the security set up "ghosts" were also found to be collecting salaries from government coffers. A seven-man committee set up by Otti to audit the Abia Vigilante Security Service and the Abia State Homeland Security Watch came up with shock findings in the report. They discovered that there were ghosts among the personnel of the state security outfits. By the time the discovery was made government had already lost N194 million to the phantom security personnel.

Apart from the ghost workers, the AG noted that about 5,000 names were discovered and "cleaned out, following the review of the lastminute employment scam by the last government".

The affected employees were considered to have been "illegally employed" from January 2023 and beyond as vote catching strategy in the run up to the general election. But the Peoples Democratic Party (PDP) disagreed with such thinking and has voiced it anger over the sacking of this category of workers.

The acting state publicity secretary of the Abia PDP, Amah Abraham said that it was "unconscionable" for the present government to sack workers in this harsh economic situation.

The Abia governor is not bothered by what the opposition is saying concerning his policies.

Otti said that his concern is public interest, which defines every of his actions. He has repeatedly pledged to use every dime of Abia money to work for the people and so would not condone any means through which public funds were siphoned.

Otti is very particular about how the internally

A new era is now upon us and we must put away the gab of greed and selfishness, poor attitude to work, clannishness and instincts that promotes mediocrity over meritocracy and excellence. Not much will be achieved if we continue dumping refuse indiscriminately

generated revenue of the state is managed. He terminated every revenue contract and digitised government revenue collection to put an end to leakages and multiple taxation burden on businesses.

The governor, while launching the new digital tax system for transporters and traders, said that it has "simplified tax compliance procedures".

He further stated with the tax system "we have removed barriers for businesses, encourage formalisation and stimulate investment".

The harmonised way of revenue collection has eliminated touts and fake revenue agents and small businesses are happy for it.

Within the 100 days in review, Otti has placed high premium on security. He reasons that all his efforts geared towards putting Abia economy in good shape and making life better for the people would come to nought without adequate security.

On August 8, 2023 the governor inaugurated "Operation Crush", an interagency security operation aimed at making Abia a no-go area for criminal elements. Otti distributed 20 patrol vans to the security agencies - Police, Army, Navy, NSCDC, and DSS - and charged them to cooperate and ensure that no inch of Abia is comfortable for criminals. He warned criminals to avoid Abia and gave them the option of "either to leave this state or be crushed by superior force".

Otti has set his eyes on building a new Abia that works for everyone. In fact, he says that he was resetting the state to start working as expected. It was on August 29, during the grand finale of the events marking the celebration of Abia Day 2023 that he espoused his dream Abia. He unveiled a new Abia State Orientation Agency(ABSOA) and charged it with the task of engendering attitudinal change in Abia, noting that “Abia will remain what it was unless we resolve to lay standards”. He stressed that “no society can achieve development unless it aligns with the outcome it seeks" He said: "The new Abia State Orientation Agency represents our boldest attempt at hitting the reset button as we separate ourselves from the choices that frustrated our best efforts and moving past the wilderness of mediocrity before now.

"A new era is now upon us and we must put away the gab of greed and selfishness, poor attitude to work, clannishness and instincts that promotes mediocrity over meritocracy and excellence. Not much will be achieved if we continue dumping refuse indiscriminately.

"Abia will remain what it was before now unless we resolve collectively that in public and in private, we shall only play by the highest standards of ethics and sound management”.

In keeping with his campaign promises, Otti is giving Aba, the commercial hub of the state, special attention. He is deeply engaged in reclaiming abandoned roads and de-silting drainages to save the city from flooding. No fewer than nine roads in Aba are currently undergoing partial or total rehabilitation in the hands of three competent construction firms. Some of the roads are billed for inauguration to mark the governor's first 100 days in office.

While Governor Otti is ploughing ahead to build a new Abia, he is also looking back to review the activities of the immediate past administration.

He wants to unravel how the Abia resources were utilised and to hold those responsible for wastages accountable. To achieve this aim, Otti on June 26, 2023 inaugurated a five-member Judicial Panel of Inquiry on the Recovery of Government Properties, Funds and Related Matters.

The Panel headed by Justice Florence DuruohaIgwe (rtd) has already commenced sitting. The Chairman said that the panel is not for witch-hunt and nobody is on trial, adding, "we are here to find out what happened to the funds and properties (movable and immovable) of Abia State between May 2015 and May 2023."

Hundred days is sure an infinitesimal time frame to assess the performance of an administration with a lifespan of 1,460 days. Otti has just spent about seven percent of his tenure but he has succeeded if giving Abians a taste of what is to come. He doesn't contemplate failure and has vowed to leave Abia far better than he met it.

"In our lifetime, this land (Abia) shall return to the path of genuine greatness and collectively, we shall overcome many obstacles before us and bequeath to those coming after us, a better society,” Governor Otti said.

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T H I S D AY ˾ SEPTEMBER 6, 2023

PERSPECTIVE

Czech Republic Courts Young African Leaders with Maiden ‘Cool Czechia’ Study Trip

The study group Kolapo Olapoju

B

etween 1948 and 1989, Czechoslovakia – as it was then known – was under communist rule. For decades, there was an absence of an opposition while restrictions were in place to prevent Czechs and Slovaks from traveling to non-communist countries.

But in November 1989, an hunger for change and an end to the status quo spread across the country like wildfire. Although sparked by peaceful demonstration organised by students, renowned dissidents such as the iconic Vaclav Havel would eventually inspire the movement to grow into a clamour for political restructuring and an end to communist leadership.

By November 28 of that year, the agitation yielded fruit as the federal assembly removed the provision in the constitution which regarded the Communist Party as the controlling authority in the country.

The movement would later be coined the Velvet Revolution, acclaimed as a remarkable non-violent transition of power.

Given its experience with oppression and subjugation, it is perhaps no surprise that Czechia opened its doors to the Ukrainains following the Russian invasion of the country in February 2022.

Since the outbreak of the war, the country has admitted more than half a million refugees from Ukraine, with over 100,000 fully employed across different parts of Czech.

The 18-month-old war, and its ripple effects, has seen many Western nations realigning and restragising their partnerships across the world.

The African Allure As Africa improves its economic and geopolitical outlook, many foreign nations are looking to boost their alliances and gain the continent’s support in multilateral fora.

The Czech Republic is not left out.

Through a multi-faceted strategy, Czech is looking to expand its partnership with Africa while creating a long lasting positive impact on the continent.

And what better demographic to forge a relationship with than young Africans on track to become important voices in their respective countries.

Enters ‘Cool Czechia; Young African Leaders Study Trip’ – a flagship initiative conceptualised by the ministry of foreign affairs of the Czech Republic.

From July 26 to August 3, several young African leaders were invited to history-rich Prague – and later to serene and picturesque Telc – for an intensive nine-day workshop on democratic values, economic and trade policies, security, among others.

The invitees – comprising journalists, activists and changemakers from Nigeria, Zambia, Morocco, Ghana, Kenya, Algeria and

more – exhaustively engaged Czech thought leaders, political icons and government representatives like state secretary Radek Rubeš on a wide array of pertinent issues.

But what exactly is Czech Republic’s agenda in Africa?

Efforts Towards Improving Security In its ‘Engaging in Africa’ blueprint, Czech Republic outlined its strategy to increase functioning security systems and contribute to building Africa’s overall security architecture with the aim of preventing a potential spillover of terrorism and armed groups into Europe.

One of the ways to achieve this goal is by sharing knowledge and expertise to defeat terrorist groups like ISIS and Boko Haram.

This and more were thrashed out during meetings with Viktor Vojtko, member of the chamber of deputies, and Jan Skopecek, the deputy speaker, at the parliament building in Prague on July 27.

“We want to take an active role in the Africa Focus Group, established in 2021 in response to the growing threat of Daesh/ISIS on the African continent,” the strategy document reads.

“The Czech Republic will engage in other (existing and future) security activities of the EU and its member states in Africa, especially in the Sahel, on an ad hoc or bilateral basis. In any case, our engagement will reflect our strategic national interests and flexibly respond to the given region’s security and political dynamics.”

Social Media: Good Servant, Bad Master Another way to improve security, Czech said, would be by countering disinformation tactics by countries seeking to root out the EU’s participation in Africa and influence elections that would support their “hostile” agenda.

The Czech Republic hopes to build

and strengthen the institutional framework for cyber-security to make institutions and states more resilient to cyber-attacks, and increase the capacities of institutions to combat cyber-crime – because “many African countries fall short of the mark in digitization and IT literacy, which makes them a frequent target of cyber criminals”.

During a session with Filip Rozanek, a journalist and expert on new media who serves as editor of Digizone.cz, discussions were held on the perils of social media and efforts made by the European Union to sanitise the ecosystem.

“Social networks are like fire: a good servant but a bad master. The fuel of social networks is emotion. And the fire is fuelled primarily by hate,” Rozanek said in his presentation at the Summer School of European Studies in Telc.

Following the Russian invasion of Ukraine in January 2022, the Czech domain administrator and operators shut down access to several websites to curtail the spread of fake news and disinformation.

It is for this reason, among others, that the EU conceived the Digital Services Act and the Digital Market Act as a form of regulation for activities on social media. The regulation is expected to take effect from February 17, 2024, with defaulting parties expected to be fined as much as six per cent of their annual turnover.

Prosperity and Sustainability The landlocked Central Europe country said it is looking to help Africa become more stable, prosperous, healthy, and educated.

Africa does not yet play a major role in the Czech Republic's foreign trade; however, in absolute numbers, its share is growing while the number of substantial Czech investments is on the rise.

“Our economic diplomacy will focus on the sectors where we have substantial know-how and experience: health care, agriculture, water and sanitation, the building of infrastructure including energy infrastructure, mining, textile and food industry equipment, defence and security industry, IT and cyber-security,” the country’s foreign ministry said.

Czech also said it will increase awareness for its private sector about the investment

As Africa improves its economic and geopolitical outlook, many foreign nations are looking to boost their alliances and gain the continent’s support in multilateral fora. The Czech Republic is not left out. Through a multi-faceted strategy, Czech is looking to expand its partnership with Africa while creating a long lasting positive impact on the continent

opportunities available in Africa and encourage companies and industry associations to offer Africa complex solutions and not just products.

In light of the impact of the Russian-Ukraine war on food security in Africa, it is clear that support of agricultural development will play a key role in the continent’s economic, social and security stability.

Czech's foreign ministry said the country will promote comprehensive approaches designed to increase agricultural productivity and diversification, and to improve access to safe, nutritious and sufficient food for all groups of the population.

The country also intends to focus on supporting small and middle-scale African farmers through improving the knowledge of resilient and sustainable agricultural practices, and encouraging mechanisation, smart farming solutions, and the building of local value chains for agriculture and food production.

“Our efforts to help increase Africa's agricultural productivity will not omit to address the impacts of climate change. We will seek to improve access to water (irrigation technologies) and water management including wastewater treatment,” Czech said in its strategy document.

Improving Healthcare Systems The COVID-19 pandemic made it clear that Africa's prosperity, sustainable development and economic and social stability largely depend on the health of its population. Although Africa had lower infection rates than Europe and other parts of the world, the impact of the pandemic on economic growth was significant.

As such, one of Czech Republic’s strategies is to promote academic, scientific, and technical cooperation with African countries – by helping to reinforce local healthcare capacities and deliver healthcare and medical supplies, ranging from vaccines to intensive care unit equipment, and hospitals.

“Our engagement in this area will continue in the coming years,” the country said.

“To help improve the health resilience of African countries, we will bring in leading Czech medical equipment manufacturers and healthcare solutions providers. We will draw on our scientific and academic expertise, as well as on our experience with development cooperation projects and the MEDEVAC programme.

“Our aim is to offer our African partners comprehensive healthcare solutions and to help make quality healthcare accessible to all.”

As Czech Republic forges ahead with its efforts to ramp up its relationship with Africa on different levels, the youths of the continent – who are building and innovating – are waiting to see how it unravels.

-Kolapo Olapoju, editor of TheCable, can be reached via Olapojukolapo@gmail.com

T H I S D AY

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WEDNESDAY SEPTEMBER 6, 2023

Access to the Internet is a critical element of global development efforts, writes SONNY ARAGBA-AKPORE

DAYO SOBOWALE argues that ideologies drive political systems and nurture their constitutionalism

ITU, SDGS AND GLOBAL DEVELOPMENT

IDEOLOGIES, COUPS AND ANXIETY

All is not well with global development as inadequacies rule the global communities.

Food security is missing. Health care is a big headache especially in developing economies.

Access to development is critically absent as connectivity is not readily available.

Nearly a third of global population has no access to telecommunications especially the internet. By the last count, nearly 2.7 billion people of the global population have no access to the internet.

So what is the way forward?

This is why the International Telecommunications Union (ITU) thinks outside the box.

The creation of a template for Sustainable Development Goals (SDGs) becomes for ITU a

clarion call. The world should embrace the SDG if they don’t want to remain on the outskirts of globalization.

On September18 and 19, ITU and it’s partners will update the global community on the progress so far on the SDG matter. It will be at the United Nations General Assembly (UNGA) in New York, United States of America (USA).

Tagged SDG Global, ITU, the United Nations Development Programme (UNDP) and partners will convene for SDG Digital at United Nations Headquarters in New York, with the support of the Boston Consulting Group (BCG) as knowledge partner. SDG Digital will take stock of the global achievements, gaps and opportunities on how digital is supporting the 2030 Agenda and catalyse greater action on the Sustainable Development Goals by bringing data and digital technologies to the table.

SDG Digital will be hosted by Doreen BogdanMartin, Secretary-General of ITU and Achim Steiner, Administrator of UNDP. Paul Kagame, President of Rwanda, will serve as chair of the event. Leaders from government, civil society, industry, academia and the UN system, as well as special guests will also participate.

The 2023 SDG Summit will be seen as one event that will determine the future of global development. It will mark the beginning of a new phase of accelerated progress towards the Sustainable Development Goals with highlevel political guidance on transformative and accelerated actions leading up to 2030.

ITU documents say “this event is Convened by the President of the General Assembly, the Summit will mark the half-way point to the deadline set for achieving the 2030 Agenda and the Sustainable Development Goals. It will be the centerpiece of the High-level Week of the General Assembly. It will respond to the impact of multiple and interlocking crises facing the world and is expected to reignite a sense of hope, optimism, and enthusiasm for the 2030 Agenda”.

On the eve of the global gathering, the ITU, United Nations Development Programme (UNDP) and partners will convene for SDG Digital at United Nations Headquarters in New York on September 17.

The ITU believes that Digital technologies are key to achieving the UN Sustainable Development Goals (SDGs). This is the moment – ahead of the 2023 SDG Digital Summit – to take stock of achievements, gaps, and opportunities, catalyse action, and step up digital support for the 2030 Agenda.

As part of the SDG Action Weekend, the event focuses on bringing digital SDG solutions to scale, including through new High Impact Initiatives for sustainable, inclusive digital transformation.

ITU takes an active role in promoting and addressing the Sustainable Development Goals through the use of ICTs. In addressing Goal 7: on Affordable and Clean Energy, Goal: 12 Responsible Production and Consumption, and Goal: 13 Climate action through its climate change programme which devotes its efforts to guiding member states, ICT sector and academia on climate change adaptation and mitigation, improving energy efficiency, reducing greenhouse gas emissions and using environmentally sustainable methods for handling e-waste. Through the United for Smart Sustainable Cities (U4SSC) initiative, ITU also commits to attaining Goal 11: Sustainable Cities and Communities.

ITU adopted Connect 2030 Agenda for global telecommunication/information and communication technology, including broadband, for sustainable development to reaffirm a shared global vision for the development of the telecommunication/ICT sector, envisaging “an information society, empowered by the interconnected world, where telecommunications/ ICTs enable and accelerate social, economic and environmentally sustainable growth and development for everyone”.

Targets under Goal 3: Sustainability, directly relate to the management of challenges resulting from telecommunications and ICT development: This paper is aiming at illustrating the potential of ICT for achieving the Sustainable Development Goals which were declared by the United Nations in 2015 as binding for all nations of our planet addressing both developing and developed countries. ICT must play a significant role if the SDGs should be achieved as projected in 2030. The paper gives an overview of some of the existing efforts in this area and is written as an appeal to all professionals, scientists and IT-professional and their organization to take a holistic approach for all ICT-activities and projects to always include and monitor the effects of their work on the SDGs. The impacts of ICT on sustainability are twofold: On the one hand there might be negative effects on sustainability such as the generation of electronic waste, on the other hand ICT is definitely an enabler to more efficient resource usage, education and business operations which is critical success factor for achieving the SDGs. The ITU ICT for achieving the Sustainable Development Goals which were declared by the United Nations in 2015 as binding for all nations of our planet addressing both developing and developed countries is a document that has been adopted for greater achievements on global development.

ICT must play a significant role if the SDGs should be achieved as projected in 2030.

Aragba-Akpore is a member of THISDAY Editorial Board

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25 4

T H I S D AY

WEDNESDAY SEPTEMBER 6, 2023

EDITORIAL

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

FHA AND THE HOUSING PROJECTS Government should empower mortgage banks to provide affordable housing for Nigerians

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abour impact assessment studies in countries with similar demographics and economies as Nigeria estimate that QR IHZHU WKDQ À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´D SHUIRUPLQJ DJHQF\ µ 1RW PDQ\ SHRSOH ZLOO EX\ LQWR $VKDID·V SRVLWLRQ UHJDUGLQJ WKH DJHQF\·V performance in the discharge of its functions. &UHDWHG XQGHU WKH 1DWLRQDO 'HYHORSPHQW 3ODQ LQ WKH )+$ LV HVVHQWLDOO\ PDQGDWHG WR FRRUGLQDWH GULYH DQG H[HFXWH JRYHUQPHQW KRXVLQJ DJHQGD WR WKH ORZ PHGLXP DQG KLJK LQFRPH JURXSV 2YHU WKH \HDUV )+$ KDV EHHQ DEOH WR GHOLYHU WKRXVDQGV RI KRXVLQJ XQLWV DFURVV WKH QDWLRQ GHVSLWH REYLRXV FKDOOHQJHV 7KH -XELOHH HVWDWH EHLQJ EXLOW LQ SDUWQHUVKLS ZLWK 1XJJD %HVW 5HJLV ,QWHUQDWLRQDO PDUNV \HDUV RI )+$·V H[LVWHQFH DQG ZLOO EH DGGLQJ DERXW XQLWV RI GLͿHUHQW KRXVH W\SHV WR WKH QDWLRQDO KRXVLQJ VWRFN RQ FRPSOHWLRQ $V D IXUWKHU PHPRULDO WKH DJHQF\ LQWHQGV WR EXLOG DGGLWLRQDO KRXVLQJ XQLWV RI GLͿHUHQW W\SHV DFURVV WKH VL[ JHR SROLWLFDO ]RQHV LQ WKH FRXQWU\ 7KHUH DUH RWKHU RQJRLQJ KRXVLQJ SURMHFWV OLNH WKH =XED +RXVLQJ (VWDWH %ZDUL WKH 6PDUW &LW\ 'LDVSRUD (VWDWH LQ 0DLWDPD $EXMD <HQDJRD +RXVLQJ (VWDWH LQ %D\HOVD 6WDWH DQG PDQ\ PRUH (YHQ VR SXEOLF KRXVLQJ LQ 1LJHULD DFFRXQWV IRU OHVV WKDQ per cent as most Nigerians are dependent on the informal sector for their housing needs. +RZHYHU ZKDW LV ZRUU\LQJ LV WKDW PDQ\ RI WKH ROG HVWDWHV EXLOW E\ WKH )+$ DUH LQ EDG VKDSH WKH\ DUH

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What is worrying is that many of the old estates built by the FHA are in bad shape: they are ill-kept and ill- maintained. Many are increasingly falling into slums 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.

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put a picture of the boss not smiling.

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LOOK AT THEIR ABILITY NOT THEIR AGE :LWK WKH DJH RI ERWK -RH %LGHQ DQG 'RQDOG 7UXPS WKH OLNHO\ FDQ GLGDWHV IRU WKH 86 3UHVLGHQWLDO HOHFWLRQ EHLQJ D PDWWHU RI FRQFHUQ 1LNNL +DOH\ D IRUPHU $PEDVVDGRU WR WKH 8QLWHG 1DWLRQV LV VXJJHVW LQJ ´PHQWDO FRPSHWHQF\ WHVWVµ IRU SROLWLFLDQV RYHU EXW ZK\ VWRS there?

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0DQ\ RFFXSDWLRQV KDYH D UHWLUH PHQW DJH VR WKDW SHRSOH FDQ HQMR\ WKHPVHOYHV EHIRUH WKH HͿHFWV RI DJH VORZ WKHP EXW LQ UHDOLW\ LW LV RIWHQ WR JHW ULG RI WKHP EHIRUH WKH\ DUH QR ORQJHU DEOH WR GR WKHLU MREV DQG become a drag on the business. $OWKRXJK LW LV EHLQJ GLVFXVVHG with enthusiasm these tests are not JRLQJ WR EH YRWHG IRU LQ IHDU WKDW a number of politicians will be re PRYHG DQG LI WKH\ DSSO\ WKH PRU DO ÀEUH DQG KRQHVW\ WHVWV DV ZHOO PDQ\ SDUOLDPHQWV PLJKW EH FORVH WR HPSW\ 7KLQN DERXW ZKR \RX YRWH IRU DQG VHOHFW VRPHRQH WKDW ZLOO PDNH WKH FRXQWU\ D EHWWHU SODFH Dennis Fitzgerald, Melbourne, Australia

26

WEDNESDAY SEPTEMBER 6, 2023 •T H I S D AY

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 6, 2023

27

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

S E P T E M B E R

S & P INDEX

5 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT MONDAY, JULY 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Banking Index Up 54.80% YtD on FX Unification, Corporate Earnings

Kayode Tokede Following the economic reforms by President Bola Tinubu headlined by foreign exchange unification and impressive corporate earnings, the Nigerian Exchange Limited (NGX) Banking Index gained 54.08 per cent Year-till-Date.

The banking index, according to THISDAY investigations is behind the NGX Oil & Gas Index and NGX Consumer Goods which have appreciated by 103.22 per cent and 80.50 per cent YtD, respectively.

Investors positioned in the banking stocks between June and August following the Central Bank

of Nigeria (CBN) naira unification policies that have attracted more foreign investors’ participation who rushed to take position in banking stocks that were before now undervalued.

Analysis of trading activity showed that the Banking Index between June and August 2023 has appreciated by 23.5 per cent to 646.29 basis points following a surge in prices of Sterling Financial Holdings Company Plc, Unity Bank Plc, Stanbic IBTC Holdings Plc, Access Holdings Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc, among others.

The stock price of Unity Bank emerged top three gainers, followed by Sterling Financial Holdings Company

and Stanbic IBTC Holdings.

Unity Bank appreciated to N1.22 per share as of August 2023, an increase of 130.2 per cent from N0.53 per share it opened in June 2023.

Sterling Financial Holdings Company, formally Sterling bank closed August 2023 at N3.34 per share, an increase of 62.9 per cent from N2.05 per share it opened for trading in June 2023, while Stanbic IBTC Holdings closed August 2023 at N65.00 per share, an increase of 62.5 per cent from N40 per share it opened for trading in June.

With the uncompleted takeover of Union Bank of Nigeria by Titan Trust Bank Limited, its stock price

has depreciated by 9.7 per cent to N6.50 per share as of August 31, 2023 from N7.20 per share it opened for trading in June 2023.

The Managing Director, Wyoming Capital and Partners, Mr. Tajudeen Olayinka said the unresolved issues around Union Bank of Nigeria acquisition, possible probe of the acquisition process by the government, and proposed delisting from the NGX is responsible for the limited price movement in the period.

Also, UBA, Access Holdings and GTCO have appreciated by 41.4 per cent, 34.96 per cent, 27.87 per cent when the CBN pronounced its foreign exchange liberation policy.

Also contributing to growth in stock prices is impressive corporate earnings.

The likes of GTCO, Fidelity Bank and Stanbic IBTC Holdings have so far declared interim dividend for half year ended June 30, 2023.

FBN Holdings declared N206.3billion profit before tax in its unaudited H1 2023, a record high from the oldest financial institution in Nigeria.

This is about 213.8 per cent high when compared to N65.7 billion declared in H1 2022.

Analysts at Coronation Asset Management in a report titled, “Investment Opportunities from FX

Liberalisation,” said banking stocks might repeat the 2017 scenario when foreign exchange rates convergence stimulated the performance of banking stocks.

The report said, “Bank stocks performed well in 2017 and we think that they will perform well again in 2023, given that most of the major listed banks hold net long positions in United States dollars and will report translation gains. We also think there is a chance that bank regulations affecting naira liquidity will be eased.”

The story continues online on www.thisdaylive.com

Report: Record-high Money Supply at N64.9tn Sparked FX, Equities Demand Amidst T-bills Returns Nume Ekeghe A recent report by Augusto & Co. has identified the surge in money supply M3 to an unprecedented level of N64.9 trillion as the driving force behind the heightened demand and fluctuations in both the foreign exchange and equities markets.

The report noted that this trend has emerged in response to the relatively low returns observed on treasury and government securities.

The report titled, “Currency Conundrum: Catching a Falling Knife,” stated: “Nigeria has what many might call an excess liquidity problem. Money supply (M3) has surged to an all-time high of N64.9 trillion while the real return on 364day Treasury Bills remains firmly in negative territory averaging -13.6 per cent so far in 2023, which is fueling the demand for FX as well as equites.”

It further states: “The ensuing

volatility and the steep slump in the value of the naira at the Investors and Exporters window in the immediate aftermath of the policy announcement was largely expected given the significant backlog of unmet FX demand, estimated at circa $12 billion.”

As at 21 June, a week after the effective liberalisation of the FX market, the naira had lost 38.7 per cent to trade at N763/$ at the IEFX window at par with the parallel

market rate.”

However, it added that in the seven weeks that have followed, banks have largely been unable to come up with the dollars to meet FX demand, “and buyers have increasingly turned to the parallel market, widening the gap between the official exchange rate and the alternative markets.

“As at 15 August, the naira closed trading at the IEFX at N774/$ while the parallel market

rate traded at N940/$, pushing the premium to N166/$ (21.4%) and creating the incentive for roundtripping, which was pervasive under the previous multiple exchange rate system.”

The report further added that in the medium- to long-term, it expects greater fiscal and monetary policy coordination as well as the elimination of structural rigidities to build investor confidence and invisible flows.

“However, a short-term solution to FX scarcity requires the ‘de-bottlenecking’ the official FX market to incentivise supply, in addition to enacting reforms targeted at squarely addressing insecurity in the Niger Delta region to restore oil production to at least OPEC-sanctioned levels of 1.38 million barrels per day and benefit from relatively higher oil prices average of $80 in 2023,” it stated.

M A R K E T D ATA A S AT T U E S D AY, S E P T E M B E R 5 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) ^13.53 2310.300, 11.35 -0.01 September 5, 2023 MAR-2025 00 ^12.50 22September 9.897,00 13.00 0.00 JAN-2026 5, 2023 ^16.2884 10.896, 13.04 September 0.00 17-MAR-27 00 5, 2023 ^13.98 2310.115, 13.62 September -0.13 FEB-2028 00 5, 2023 ^14.55 2610.194, 14.03 September 0.00 APR-2029 00 5, 2023

BILLS MATURITY

Discount Yield

NTB 26-Oct23 NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24

3.56

NTB 8-Feb24

3.58

3.50

3.52

4.69

4.75

6.00

6.14

6.38

6.56

OTC F X F U T U R E S

CPS

Change (%) Updated Time 0.00 September 5, 2023 0.00 September 5, 2023 0.00 September 5, 2023 0.00 September 5, 2023 0.00 September 5, 2023

MATURITY

Discount Yield

NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

19.56 20.41

-0.01 September 5, 2023

11.91 12.23

-0.01 September 5, 2023

19.58 20.44

-0.01 September 5, 2023

17.09 17.76

-0.01 September 5, 2023

16.54 17.22

0.00 September 5, 2023

VAAG CP XVII 24-N OV-23 RICL CP IV 1-DEC-23

Change (%) Updated Time

CONTRACT Current Updated Time TENOR Contract Rate ($/₦) (MONTH) September NGUS SEP 13 914.19 25 2024 5, 2023 September NGUS OCT 14 927.51 30 2024 5, 2023 September NGUS NOV 15 938.61 27 2024 5, 2023 September NGUS DEC 16 949.70 24 2024 5, 2023 September NGUS JAN 17 960.80 29 2025 5, 2023

28

WEDNESDAY, SEPTEMBER 6, 2023 ˾ T H I S D AY 27

BUSINESSWORLD

NEWS

L-R: Trade Marketing Manager & PMO Nigeria, International Breweries Plc (IBPLC), Jeffery Odey; Chief Executive Officer, Advapro Ltd, Helen Ofili; National Sales Director, IBPLC, Nicholas Kade and Country Program Director, TechnoServe, Ayokanmi Ayuba during the IBPLC’s Retailers Development Programme Launch in Lagos, Nigeria… recently

N A I C O M B l a m e s Po o r I n s u r a n c e Acceptance on Inadequate Service Delivery its customers.

According to him,the NAICOM Service Charter, which is one of the provisions of “Service Compact with all Nigerians,” is a document, which represents and expresses the Commission’s commitment towards its customers in respect to: standard of services, information dissemination, availability of choice and consultation, non discrimination and accessibility to service grievance redress mechanism courtesy and value for money and expectations of the commission from its customers.He insisted that the very low acceptance of

insurance in Nigeria today was largely due to low service delivery on the part of the insurance industry ”In view of the above, the strategic initiatives for insurance market development were considered in line with the commission’s laws, mandates and responsibilities, ”he said.

He listed these mandates

Pensions Contributions to Economic Devt

All is now set for celebration of the unsung heroes of the Nigerian port operations and by extension the entire economy as the Shipping Correspondents Association of Nigeria (SCAN) hosts a maiden Dockworkers’ Day. With the Nigerian economy predominantly importdependent, and the ports as gateways to both regional and global trade, driving economic growth and fostering international cooperation with an estimated N33.2 trillion seaborne trade, the role of dockworkers, including crane operators, cannot be overemphasised.

The nation’s economy thrives on their skillful cargo handling. Yet, they have so far not been paid due recognition, unlike most other sectors of the economy, which are even yearly celebrated internationally.

In a statement jointly signed by the President of SCAN, Eugene Agha, and the Secretary, Tony Nwachukwu, the event has been scheduled to hold Thursday, September 7, 2023, at the Conference Hall of the Nigerian Shippers’ Council (NSC), Apapa, Lagos, by 10:00am.

Ebere Nwoji The National Insurance Commission (NAICOM) has identified inadequate service delivery as the major reason for poor insurance acceptance in Nigeria.

NAICOM said though the lingering problem has been attributed to other issues like Nigeria’s peculiar market environment, limited public awareness as well as negative public perception, poor service delivery has remained major challenge to insurance acceptance in Nigeria.

NAICOM’s Senior Manager, Human Resources Service,

Kabiru Ahmed who stated this while delivering a paper on, “Service Delivery, A Panacea to an Effective and Efficient Growth in the Insurance Industry,” at the recent media conference organised

by NAICOM in Uyo, Akwa Ibom state, quoted the Nigerian development plan vision 2020 as describing the Nigerian insurance sector as, “A grossly untapped opportunity” with low market penetration.

He said poor service delivery, inefficiency, corruption, slow response to service delivery and inadequate complaint handling processing of public institutions to citizens were some of the

reasons government established SERVICOM. He described SERVICOM as an acronym for service compact with all Nigerians as well as a pledge by all government institutions to deliver service to the public in a timely, fair,honest, effective and transparent manner.

“The National Insurance Commission (NAICOM), being a corporate organisation is committed to ensure full compliance with the laws of the Federal Republic of Nigeria and other binding International Laws, thus, developed this compendium of services rendered to serve

as ensuring prompt quality service delivery to the Commission’s internal and external stakeholders, producing, monitoring the performance and reviewing SERVICOM charter within the organisation, managing the Commissions’ customer relations policy and providing opportunities for customer feedback.

Shipping Correspondents Celebrate Nigerian NAIPE Conference to Discuss Insurance, Dockworkers

Ebere Nwoji Issues bothering on the contributions of the insurance and pension industries towards the development of the nation’s economy will form the Thrust of Insurance and Pension conference organised by the National Association of Insurance and Pension Editors (NAIPE) Conference.

A statement from NAIPE president, Mrs Nkechi Naeche Esezebor, said stakeholders would meet on Thursday, September 7, for the year’s edition of the conference, which has the theme “Role of Insurance and Pension Sectors In Building Sustainable Economic Growth Under The New Government.”

She said experts in the

business of insurance and pensions were expected to dig deeper into how the sectors could help in uplifting the socio-economic and social development of Nigeria.

Meanwhile, NAIPE has named the Managing Director/CEO of APT Securities and Funds Limited, Mallam Kasim Garba as the

Keynote Speaker for the upcoming conference, which is the 8th in the series.

The association has equally unveiled the names of prominent thought leaders and astute professionals in the insurance and Pension industries who will serve as lead panelists at the conference to discuss the theme.

Oil Inches Higher on OPEC Supply Cut Expectations, Hits $88.58 Per Barrel Emmanuel Addeh in Abuja Oil prices edged higher yesterday supported by expectations that major producers will tighten supply, with Brent crude November futures up 3 cents at $88.58 a barrel, while US West Texas Intermediate crude (WTI) October futures rose 9 cents to $85.64 a barrel.

The slight gains in Asian trade came after both contracts ended last week at their highest levels in more than half a year, having weakened in the two previous weeks.

“Crude oil prices have

been primarily driven by the anticipation of additional supply cuts from major oilproducing nations, Russia and Saudi Arabia,” said Sugandha Sachdeva, executive vice president and chief strategist at Acme Investment Advisors.

Sachdeva noted, however, that the steady increase in US oil production could limit further significant gains in price.

Russian Deputy Prime Minister Alexander Novak said earlier that Russia had agreed with partners in the Organization of the Petroleum Exporting Countries

(OPEC) on the parameters for continued export cuts. An official announcement with details of the planned cuts is expected this week.

Russia has already said it will cut exports by 300,000 barrels per day (bpd) in September, following a 500,000 bpd cut in August. Saudi Arabia is also expected to roll over a voluntary 1 million bpd cut into October.

Meanwhile in China, manufacturing activity unexpectedly expanded in August, data from Caixin’s manufacturing PMI survey indicated, reducing some

of the pessimism about the economic health of the world’s largest oil importer.

A series of economic support measures announced by Beijing last week, such as deposit rate cuts at some of the country’s largest state-owned banks and an easing of borrowing rules for home buyers, have also supported prices.

However, investors continue to await more substantial moves to prop up the country’s embattled property sector, which has been one of main drags on the Chinese economy since its emergence from the pandemic.

The event is expected to x-ray the challenges faced by the port workers in their daily struggle to achieve a seamless economy through their seaports, while also looking into the future of their occupation in the light of ever-improving technologydriven economy.

Chairperson of the event is the Chairman, Seaport Terminal Operators Association of Nigeria (STOAN) and Executive Vice - Chairman, ENL Consortium Limited, Princess (Dr.) Vicky Haastrup, while the Keynote Speaker is the Lead Consultant, Justicia Consults and immediate past Executive Secretary, Nigerian Shippers’ Council, Barr. Hassan Bello.

Special honours will be given to some distinguished personalities for their immense contributions to the welfare of dockworkers. These include: Executive Secretary, Nigerian Shippers’ Council, Hon. Emmanuel Jime; STOAN Chairman, Princess (Dr.) Vicky Haastrup, Director General, Nigerian Maritime Administration and Safety Agency (NIMASA) and the Managing Director, Nigerian Ports Authority (NPA), Muhammed Bello-Koko.

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 6, 2023

29

BUSINESSWORLD

INTERVIEW

Yuguda: Capital Market Must Support Govt to Actualise Economic Reforms The Director General, Securities & Exchange Commission, Mr. Lamido Yuguda reiterated the Commission’s readiness to help the federal government in its current economic reforms, expressing optimism that rigorous reforms will rejuvenate the nation’s economy. Kayode Tokede brings extracts from the virtual second Post-Capital Market Committee (CMC) media briefing held recently What is the CMC proposition on the President Bola Tinubu-led government? e had a round table discussion and have gathered valuable inputs from market participants which would be put together for the new administration, underscoring the commitment to reposition the capital market as a driver of economic growth in line with the vision of the new government. We know the road ahead is undeniably challenging and the capital market must step forward in whatever way to lend its helping hand to the current economic reforms, adding that the market must make sacrifices to help drive the economic transformation that will change our nation’s fortunes for the better.

It is a fact that there are prevailing challenges arising from demanding macroeconomic conditions, constrained consumer spending, and rising operational costs. Despite these challenges, there remains a shared sense of optimism that ongoing rigorous reforms will rejuvenate the nation’s economy. I therefore pledge the resolute support of the Capital Market to the Federal Government in navigating these challenges for the country’s brighter future.

W

There are ongoing reforms in the capital market and the economy is also undergoing reforms too, in specific terms what are those reforms being considered by the commission and capital market stakeholders especially now that the NGX has created a board for Dollar listing?

My speech raised a number of reforms that have been taking place, you yourself mentioned the issue of Tech Board from the NGX. We have reforms on custody on Collective Investment Schemes, reforms in derivatives trading, and reforms taking place in the commodity exchange space. We really have a lot of reforms taking place. We have reforms taking place in-house to make the regulator more efficient, IT friendly, so that the capital market can really embrace technology as we move forward. We have a number of new initiatives on crowdfunding, Robo Advisors.

These are all areas where significant activity is actually taking place to reposition the capital market to really fund the nation’s quest for development.

What is your opinion on dollar denominated bonds listed on the NGX and what is the current value of unclaimed dividends figure in the capital market?

On dollar-denominated bonds listed on the NGX, I don’t see any problem with dollar denominated bonds.

I mean, any bond should be an obligation that really is backed by the ability of the obligator to repay the bonds. Once the bond has that attribute, then it doesn’t really matter on the currency or denomination of that bond. Of course, that bond could be a corporate bond, could be a sovereign bond, could be an agency bond but what matters really is the person or entity that has borrowed the money through that bond able to meet the repayment requirements, both of interests and principal as they fall due. So once they are there, it is good investment for people who wish to participate in that kind of bond.

Talking about strengthening the Capital market.

There are insinuations from the market that SEC has not been doing much to push the ISB, how true is this?

The ISB has passed by the National Assembly, and was actually submitted for Presidential assent but at the point of discussion between stakeholders that needed to then look at the bill as passes by National Assembly,

Yuguda there were observations that were raised, and the resolution of those observations did not really benefit from the tight timeframe under which the last administration worked; which was sometime in early May. Before it could be resolved, the time for the administration had expired and it was passed back to the National Assembly.

However, it has passed the second reading and it is now before the National Assembly, house of representatives’ committee. Everything that needed to be corrected and amended were done. The Commission is actively pursuing the ISB. The ISB is reflective of the modern capital market. It has robust provisions for commodities exchanges, which were not in the 2007 act. Whilst we have this new legislation, the Capital Market will basically have a much newer impetus because of the very novel provisions and the strengthening of the existing provisions in the bill. The Bill aims to align regulations with the modern dynamics of the market and it is hoped that if passed into law, it will enable optimal contribution of the capital market to national development.

SEC has launched the Revised Capital Market Master Plan, what are the achievements and challenges you are facing in terms of meeting your targets in 2023?

On the revised Capital Market plan, achievements and challenges. It is important for me to say that the Revised Master plan is actually a ten-year plan. It’s a plan from 2015 to 2025 and what we did last year was to have a mid-term review of the plan so that we can align the plan with the revised capital market expectations, with new economic development so that, as we move towards the end of the plan period, the plan is actually very consistent with realities on ground.

I think the CMMP has achieved a lot and in 2023,

we continue to see these achievements.

We continue to see the issue of dividends, commodities exchanges, we have mentioned the issue of really strengthening the internal capacity of the Commission as a regulator to really discharge its mandate. We have mentioned the issue of non-interest capital market which is a very important area for development which we have not exploited very well. There are concerted efforts in the Capital Market and the rest of the financial sector to actually explore that area. We have mentioned the pension, the form C (VI) or a lot of Sukuk issuances by the government. We have seen the fifth on recently, and all issue oversubscribed and we have also looked at the development with CIS Inspector where we have strengthened custody requirements, we have strengthened one regulation that the capital market regulators in this sector will continue to offer products that are very suitable to investors and we can reduce substantially, the impact of non-regulated products or Ponzi scheme. Over-all, our achievements have been very good.

Challenges are quite many; Firstly, issue of technology: We have ensured that the technology environment within the Commission is strengthened. The launching of an ongoing technology project is set to happen in the beginning of 2024. A challenging macroeconomic environment like; High inflation, unstable exchange rate. The future is really great for our country, However, we need to harness the capital market to fund critical investments in infrastructure, as these kind of investments will stand the test of time and prepare Nigeria for her explosive population in years to come.

Today, we have a population of 200million+, however, we are likely to have a much higher population in the next 30 years. This demography consists of young people who do not have good jobs and education. These investments will help tackle these challenges.

Our youths will begin to take part in Education and skills acquisition in order to create a better life in the country. This is our goal, and the capital market will play its part in this developmental process or match.

What are the actions taken to get Nigeria out of financial grey-list? Kindly update us on the action and let us know the way forward.

The grey listing of Nigeria is a thing of concern to the capital market but the Financial Action Task Force (FATF) does not only focus on the capital market but the entire economy before it makes its assessment. The financial sector is one but they look into other things. In the capital market, we have worked with all relevant government agencies that are involved in this government; the National Assembly, the judiciary, the regulatory agencies; like NFIV, CBN, CAC and every one that is involved in FATF discussion. In the capital market, we have our parts to play, which is to ensure that our operators in the capital market operate with a very clear risk aware approach, so as they know the kind of people they open accounts for i.e. (KYC) “Know Your Customer: No illegal transaction: Anti-money laundering: Counter financing (CF): Proliferation of small arms and Sanction screening.

We have new set of circulars in the financial market. We have organized trainings for capital

market operators. The capital market has been making efforts to getting Nigeria de-listed. We have been working with all relevant government agencies, we have attended all relevant meetings and reviews. We are excited with the results on the capital market, and we are charging them to do much more so that we can have a very clean slate at the next review. Other efforts already made by the capital market include the SEC having amended its Anti Money Laundering and Countering the Financing of Terrorism Financing (AML/CFT/CPF) Regulation 2022 in line with the findings from the National Residual Risk Assessment (NRRA) exercise.

New frameworks on the implementation of Targeted Financial Sanctions (TFS), Risk-based Supervision and guidance on Politically Exposed Persons (PEPs) were developed for the market. Meanwhile, a sector-specific entity risk assessment framework is being finalized.

We still have issues of unclaimed dividends recurring severally across the companies. What is the SEC doing to stem the tide?

Unclaimed dividend has become a serious problem in our country because we have issues with identity management within the capital market, we have issues with multiple subscriptions where people were using different names to subscribe to share offerings. We had a situation where not much of the information was actually captured on each individual’s subscriber and then we have a lot of individuals that change their names when we were still using the paper dividend warrant system.

So we had legacy issues that have really aggravated issues of unclaimed dividends. These issues that we have been trying to resolve with the introduction of the electronic dividend payment. The electronic dividend portal has actually now been under some kind of reform. Both the committee on the electronic dividend mandate as well as NIBSS have been working to really get this portal perform much better and more user friendly so that we can substantially increase the investor experience in terms of uploading their details and to also get this issues of unclaimed dividends significantly reduced. I note your reference to MTN. MTN is a much newer stock than the other and should probably not have had a lot of unclaimed dividends on it. we also have looked at that and we are now tightening our KYC requirements so that by the time you buy shares in the capital market, all the information that is required to be captured from you will be captured so that this unclaimed dividend will be a thing of the past in our market, But the truth of the matter, one of the major issues which keeps the figure of unclaimed dividend high is having the owners, the final beneficiaries of these monies have access to them.

At our meeting for example, we discussed that, as much as efforts are being made by the regulator and other capital market operators ensuring that the spate and volume of unclaimed dividends is reduced by transmitting them to the beneficial owners. We keep putting a lot of efforts and activities toward making sure that investors on their own come forward to, one rightly claiming their shares, two update their information, including bank account and other KYC details which not only will help us reduce the volume of unclaimed dividends, two to ensure that future benefits which is not only limited to unclaimed dividends, bonuses, and every other thing gets equally transmitted and three that everyone in the capital market is rightly and adequately accounted for so that our data is more robust and it will aid our planning.

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

AGF Calls for Transparency in Management OnePipe Empowers Retailers, Distributors in Nigeria’s Informal Sector of Cooperative Societies Funds James Emejo in Abuja The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, has urged cooperative societies in Ministries, Departments and Agencies (MDAs) of government to entrench prudence in the management of funds and evolve strategies to boost members’ confidence and aid their growth.

The advice came amidst reports of embezzlement and misappropriation of funds and other anomalies in the operations of cooperative societies in several ministries,

departments and agencies (MDAs), Speaking while commissioning a water processing factory executed by the OAGF Staff Cooperative Society, in Abuja, Madein, however, expressed delight at the feat achieved by the association.

According to her, the OAGF Cooperative Society has set a high standard with the efficient and prudent management of funds; an action she said has put them at the forefront of cooperative societies in the country.

She said the association

should endeavor to maintain the standard they have set.

Director, Press, OAGF, Mr. Bawa Mokwa, Madein, also applauded the initiative of the cooperative to venture into water processing project adding that “water is life and no society will survive without water”.

Also, speaking at the occasion, the President of OAGF Cooperative Society, Mr. Idris Sule, expressed optimism that the project will create job opportunities, increase the dividends paid to members, and strengthen the financial base of the association.

Emma Okonji OnePipe, a fintech operating company in Nigeria, recently concluded ‘The Growth Lab’, an educational platform specifically curated for Nigeria’s retailers and distributors in the informal sector.

The event was a pivotal part of OnePipe’s vision and mission, underlining the company’s commitment to the democratisation of financial technology and support for grassroots businesses in Nigeria Head of Operations at OnePipe, Yvonne-Faith Elaigwu, said: “The Growth Lab was crafted with the

intent of supporting the core of Nigeria’s economy - the informal sector, by providing them with actionable financial tools to foster growth and sustainability. This initiative is a clear indication of our unwavering commitment to promoting financial inclusion, economic advancement, and individual wealth within Nigeria’s expansive, yet overlooked informal economy.”

The informal economy in Nigeria, which accounts for approximately 65 per cent of the country’s GDP, houses millions of retailers and distributors. With the right financial tools, these entrepreneurs have the potential to transform their businesses.

‘The Growth Lab’ showcased this potential, primarily through a keynote speech by the CEO, Seams and Stitches Limited, Yemi Chukwurah, which elucidated OnePipe’s blueprint for using digital instruments to uplift professionals.

One notable tool, GrowTrade, was featured during ‘The Growth Lab’. GrowTrade is a cutting-edge platform devised to assist distributors and retailers in enhancing their businesses. Attendees were privy to testimonials from a distributor and retailers that have reaped substantial benefits from GrowTrade, witnessing a remarkable amplification in their business trajectory.

30

T H I S D AY ˾ WEDNESDAY SEPTEMBER 6, 2023

EDUCATION New Book Provides UNICEF Nigeria Names Cobhams, Kate Insights on Retirement Henshaw, WAJE, Others Child Rights Advocates Uchechukwu Nnaike

A human capital development trainer and author, Mr. Laja Shoniran, has provided useful information about preparing for and adjusting to life after retirement in his new book, ‘Retirement Reinvented’.

Speaking at the launch of the book recently in Lagos, he said the book was born out of his experience about the hardship some retirees, who only depend on pension, go through, especially in Nigeria where pensions are delayed, He noted that some great people have been reduced to nothing in retirement.

He described the book as a compendium of all his seminar and training materials over the past 18 years.

Shoniran stressed the need for early preparation for retirement through saving, investment, reading about retirement, and attending training and seminars on retirement.

He said retirement should not be considered a death sentence, but retirees should seek other ways to value their lives and society.

Shoniran announced plans to create active retirement clubs or groups to link people with op-

portunities, even secondary careers.

The book reviewer, Dr. Richard Ikiebe, commended the author for his consistency, persistence, and utilitarian approach to things.

He described the book as a comprehensive guide, a book one can put into action, in which the author blends his expertise with a deep understanding of people, social dynamics and economic realities to present a holistic approach to retirement.

“Shoniran has drawn from real-life experiences and case studies and has skillfully illustrated what the challenges are like for many retirees so that we can learn from what others have done. He also encourages readers to embrace their unique circumstances and aspirations and use them to make something new out of the new life they have found themselves in.

According to him, the author encourages readers to view retirement as an opportunity for growth, renewal, contribution to society and engagement with peers. He challenges the traditional model where retirement is considered a death sentence.

Starfield College Turns 25, Graduates 82 Students Uchechukwu Nnaike

Starfield College, Lagos, recently graduated 82 students of the class of 2023 with a charge to impact the world.

This year’s graduation, with the theme ‘Greater Heights’, coincided with the school’s 25 anniversary.

The school’s principal, Mrs. Sara Oyinloye, commended the graduands for their dedication to their studies, personal growth, resilience and contributions to the school community.

She advised them to believe in themselves, even in the face of adversity, seek opportunities for growth and always read.

“Read because you want to be informed, not because you are to write an exam or a test. Remember that nothing empowers like knowledge. It is your investment in knowledge that empowers you for unusual accomplishments,” stated Oyinloye. “When you have knowledge, you will discover things that will solve the problems of this world and so take us to a greater height.”

Oyinloye thanked the management and staff for their support, dedication and commitment, which led to the students’ success, adding that the school recorded a 100 per cent pass rate in external examinations, as some students had several As.

In JAMB UTME, she said many of the graduands scored above 300, while others scored 290, 280 and 270.

She also thanked parents for their cooperation and hoped they would advise their children not to deviate from the norms.

Prizes were presented to outstanding graduands.

Leading the pack was Miss Emilia Sholaja, who emerged as the overall best-graduating student. She made eight As in WASSCE and scored 346 in UTME. The 16-year-old attributed her success to hard work, her parents, teachers and friends who motivated her.

Sholaja said she would study software engineering at the university to put her problem-solving mind to work.

Validating her exceptional performance, some of her friends and fellow graduands referred to her as their teacher, artificial intelligence, and the source of their knowledge.

The event also witnessed the recognition and presentation of loyalty awards to some parents. One of them, Mr. Beckley Abioye, said three of his children passed through the school.

Abioye said he stuck with the school because of the founder’s integrity and passion for academic excellence and extracurricular activities.

Funmi Ogundare

United Nations Children’s Fund (UNICEF) has named celebrities in the entertainment industry as its champions of children’s rights.

They include Cobhams Asuquo, WAJE, Kate Henshaw, and Ali Nuhu, who will work for 12 months, serving as powerful voices to amplify issues around child rights in Nigeria.

In a statement, the UN agency’s representative in Nigeria, Ms. Cristian Mundu-

ate, explained that the child rights ambassadors would work with UNICEF to elevate pressing concerns related to children, spanning sectors such as health, education, nutrition, child protection, water sanitation, and hygiene.

“We are truly elated to join hands with such influential voices in the entertainment industry - Cobhams, WAJE, Kate Henshaw, and Ali Nuhu.

Their dedication and passion for children’s rights will undeniably amplify the urgency of the issues we fight for

daily,” said Munduate.

The collaboration, she stated, symbolised a bridge between the commitment to child rights and the power of art and storytelling, adding that through music, film, and public engagement, the Fund hopes to touch hearts, shift perspectives, and inspire action.

“As UNICEF champions, Cobhams, WAJE, Kate Henshaw, and Ali Nuhu will engage in numerous initiatives and campaigns designed to ensure every

child’s right to survival, growth, development, and protection is upheld and championed,” Munduate added.

In her remarks, Waje lauded UNICEF for the opportunity.

“As an actress, a woman, and a mother who has a career spanning over 15 years, I have been on the frontline of the challenges that children face. I believe that being a champion will help achieve that because of the brand that I am.”

From left: The Principal, Starfield College, Lagos, Mrs. Sara Oyinloye; parents of the valedictorian, Mr/Mrs. Sholaja; the valedictorian, Emillia Sholaja; and the Director of Studies, Mr. Chris Eigbe, at the 23rd valedictory service of the school recently

Fintech Firm, PayHelpa Launches Student Ambassador Programme PayHelpa, an avant-garde fintech company renowned for harnessing the potential of artificial general intelligence in facilitating seamless cross-border transactions, has introduced its highly anticipated Student Ambassador Programme.

The inaugural event was held in Texas, USA, marking a momentous stride towards broadening prospects for Nigerian students pursuing education in the United States and Canada.

During the programme’s launch, Ayodeji Adesola, cofounder of PayHelpa, emphasized the company’s unwavering commitment to nurturing the next genera-

tion of fintech trailblazers.

Adesola highlighted the exclusivity and meticulous selection process for the programme, which will admit a limited cohort of just 50 students.

“We believe that the fintech landscape has seen a revolutionary development with the emergence of PayHelpa. This student ambassador programme is a testament to our dedication to nurturing exceptional talent and fostering a culture of financial inclusivity,” said Adesola at the launch.

Adesola added, “Interested candidates are encouraged to visit our website to apply.

Only 50 students will be

admitted into the program at this time.”

Aspiring candidates are encouraged to submit their applications at www. payhelpa.com/ambassadors.

Only a select group of 50 students will be admitted.

Emmanuel Olorunsheyi, PayHelpa’s cofounder, accentuated a distinctive aspect of the programme.

Olorunsheyi underscored the monthly stipend of $2,000 that will be extended to each student ambassador.

“We have made the entry process easy. The candidate must be residing in the USA or Canada, must be a student and must also have access to WhatsApp

to enable effective community management and communication,” said Olorunsheyi. “The stipend, on the other hand, recognizes the commitment and dedication required to excel in the program. With a monthly stipend of $2,000, we are helping to alleviate the financial burden that students often face during their academic journey.”

By extending the initiative to Nigerian students studying in North America, PayHelpa said it aimed to bridge the gap between these regions and contribute to the evolution of a globally interconnected fintech ecosystem.

Education Will Benefit All in Osun, Says Government Yinka Kolawole ÓØ ÝÙÑÌÙ

The Osun government on Monday noted that education projects in the state would benefit all sundry in the state.

The government stated this at the inauguration of the rehabilitated block of four classrooms at Isale-Imole Community Primary School, Ilobu

Irepodun LGA, facilitated by the Osun Community and Social Development Agency (CSDA).

The Commissioner for Rural Development and Community Affairs, Ganiyu Olaoluwa, who represented Governor Ademola Adeleke, stated that the government’s efforts would help motivate students to learn in a conducive environment

and improve school enrollment.

He urged the community and the school authority to ensure adequate adherence to maintenance and sustainability of the projects such that generations yet unborn will benefit from it.

The CSDA General Manager, Aderonke Funmi Abokede, said the agency would continue to improve

the school facilities of Community Primary School through the agency under the COVID-19 Recovery and Economic Stimulus program (Osun Cares), a World Bank intervention programme.

Abokede emphasised that the inauguration was made possible because of the funding provided by the governor.

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T H I S D AY ˾ WEDNESDAY SEPTEMBER 6, 2023

EDUCATION

YABATECH Rector Edumark Consult Tasks School Directors, Warns Students Proprietors on Transforming Education parents and schools owners within the education sector. how to use technology against Social Vices Ogunde, however, effectively, among others. overwhelmed.

Funmi Ogundare

The Rector of Yaba College of Technology, Dr. Ibraheem Abdul, has cautioned students to shun any form of social vices, including rape, cultism and gangsterism, that can mar the image of the college.

The Deputy Registrar, Centre for Communication Information and Public Relations (CCIPR) of the College, Adekunle Adams, who made this call in a statement, explained that the management would not hesitate to apply the full weight of the law on any student or group apprehended.

“The entire community should desist from these vices as the management would not hesitate to apply the full weight of the law on any apprehended

student or group of students found wanting in this regard,” said Adams.

He also appealed to female students to keep themselves safe at any forum and report any clandestine act noticed or harassment within the college vicinity.

The present administration, the rector noted, would not tolerate or treat with kid gloves issues relating to cultism, rape, sexual harassment and indecent acts perpetrated by any students.

Abdul admonished the students to study the students’ handbook to get conversant with the dos and don’ts guiding their stay in the college and be worthy in character and learning.

UNILAG Researchers Partner Consortium on Parkinson’s Genetic Risk Factor A team of researchers from the University of Lagos, Nigeria Parkinson Disease Research (NPDR) network, International Parkinson’s Disease Genomics Consortium (IPDGC)-Africa, University College London, the National Institutes of Health (NIH) US, and 23andMe, have uncovered a genetic variant that increases the risk of Parkinson’s Disease in Africans and African admixed populations.

The study was part of a Global Parkinson’s Genetics Programme (GP2) funded by the Michael J Fix Foundation for Parkinson’s research.

The NPDR network and UNILAG team were led by a professor of neurology in the Department of Medicine, Faculty of Clinical Sciences, College of Medicine, Njideka Okubadejo, who acknowledged the crucial role the supportive research environment at the university and the commitment

As schools resume for the 2023/2024 academic session, the Chief Executive Officer Edumark Consult Limited, Mrs. Yinka Ogunde, has called on its directors and proprietors to start thinking of projects and programmes that would transform the education sector.

Ogunde, who disclosed this recently at the 15th edition of the Total School Support Seminar and Exhibition (TOSSE) themed, ‘Transforming Education Across Borders’, in Lagos, explained that it is not going to be business as usual once school is in session because the world is changing rapidly, adding this may leave

Ogunde stated, “How do you close this gap? That is why the school owners and teachers have to be prepared and develop themselves very well, or else there will be (an) emotional crisis. Education cannot be run the way it was done before. So we need people in charge who will be prepared to do things differently. It is not going to be business as usual.”

She expressed excitement about how far TOSSE has come in the last 15 years, saying that it shows that people are really thirsty for knowledge and things that would build communities and make them to learn and be aware of new things

expressed concern about how some schools were poorly established, saying that there are too many of such at all levels.

The Chancellor of Lagos State University (LASU), Dr. Gbolahan Elias, commended Edumark for its progress, saying that the nation’s wealth depends on the people’s skills.

“We should not underrate the importance of education. Training of teachers is important at all levels.

Government regulation is also very important,” Elias stated.

The programme witnessed experts making presentations on whistleblowing and confidential reporting, leadership, and

An IT consultant, Dr. Suleiman Shaibu, stressed the need for people to learn how to use technology to connect with others on social media, adding that the country should spend more on automating processes and reviewing the curriculum.

“The government should invest in public schools and send students for exchange programmes within and outside the country,” Shaibu explained. “The minister of Innovation, Science and Technology is also putting together a committee that will focus on Artificial Intelligence.

It is a step in the right direction by investing money and efforts in it.”

of the national and international partners played in the success of the study Other members of the UNILAG team collaborating with the consortium include Dr. Oluwadamilola Ojo (associate professor and site lead investigator, Faculty of Clinical Sciences (FCS), Dr. Osigwe Agabi (FCS), Prof.

Francis Ojini (FCS), Dr. Ismail Ishola (Faculty of Basic Medical Sciences).

Others include Dr. Francisca Nwaokorie (associate professor, FBMS), Mr. Roosevelt Anyanwu (Central Research Laboratory CMUL), and Dr. Arinola Sanyaolu (FBMS).

The variant on the GBA1 gene was identified by the GP2 researchers as part of efforts to galvanise international and collaborative research into the genetics of Parkinson’s disease as well as revolutionise treatment for the African and African admixed population.

Educator Recommends Awardee’s father, Mr. Remawa Bello, Principal Imaad Secondary School, Mr. Lateef Adedeji, the awardee, Miss Maryam Positive Reinforcement L-R: Remawa Bello and her mother, Hajia Remawa Bello at the British Council recognition and outstanding Cambridge Learner awards, in Lagos... recently in Schools An elementary school educator To buttress her recommendaat Greensprings School, Olufun- tion, the educator stressed Don Highlights Measures to Tackle Women’s milayo Olajide, has underscored that educational institutions the significance of recognising should move beyond focus- Marital Challenges and rewarding exceptional moral behaviour in children through positive reinforcement.

She said this at a ‘House Points Assembly’ organised at the Ikoyi campus of the school recently.

According to her, positive reinforcement is vital in motivating children to embrace ethical behaviour and grow into responsible adults.

Alongside encouraging positive behaviour, she noted that the active identification and celebration of children who consistently demonstrate exceptional moral behaviour inspires other students to emulate these virtues.

During the assembly, students from different class categories were celebrated for their outstanding behaviours.

ing solely on academics and invest in developing moral values in children through positive reinforcement, adding Greensprings’ commitment to fostering character development alongside academic excellence.

“At Greensprings School, our mission is to shape wellrounded individuals who possess strong character. We prioritise character development by instilling values such as honesty, integrity, respect, perseverance, accuracy, and good behaviour in our students.

Those students who embody these values are consistently celebrated, and this positive reinforcement approach has made our school an environment that nurtures students to become responsible global citizens,” she stated.

Gbenga Sodeinde in Ado Ekiti

A university don and professor of Guidance and Counselling at the Ekiti State University, Ado Ekiti (EKSU), Joyce Olufunke Ogunsanmi, has advocated measures to tackle women’s marital challenges at the home front.

Delivering the EKSU’s 78th inaugural lecture titled ‘That The Home Be Happy: Marital Adjustment and Economic Participation of the Women’, Ogunsanmi recommended guidance and counselling as two sides of a coin that can be employed in helping or assisting individuals to overcome challenges and live happily.

She described guidance and counselling as a process that is developmental in nature, through which an individual is assisted to understand, accept and utilise his or her temperament, abilities, aptitudes, attitudinal and other psychological disposition patterns and interests, personality traits and values in relation to aspirations.

Ogunsanmi explained further that the process of guidance presents services to individuals based upon needs, an understanding of one’s immediate environment, the influence of environmental factors and unique features in the environment.

Ogunsanmi described counselling as an enlightening process through a person, who helps another person by facilitating growth, development and positive change through exercise of self-understanding.

Ogunsanmi described marriage as an institution that is legally or formally recognised by the union of two people as partners in a personal relationship.

Ogunsanmi recommended “productive women should develop a harmonious, effective and mutually satisfying behaviour pattern that encourages good and effective companionship, affectionate intimacy, agreement on basic values of life

and accommodation between a husband and a wife.”

She advocated further that marriage programmes should be regular in community counseling clinics and centres to encourage high marital adjustment between spouses in communities and remedial therapy sessions.

Also, that, the issue of conflict resolution strategies should be emphasised to resolve conflicts in the home when they occur.

She called on the government at all levels to improve reproductive health services in communities, which in turn will help the employed women, particularly, the young ones who are still in their reproductive ages,

32

T H I S D AY ˾ ʹ˜ 2023

CITYSTRINGS

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ ÒÓÏ×ÏÖÓÏ äÏÙÌÓ ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͖͕͔͑͑͒͑͒͑͑͘

Push to End Menace of Soaring Cult-related Killings in Awka David-Chyddy Eleke reports that though killings linked to cultism in Awka have exacerbated, concerned stakeholders are working to end the menace

Hon Henry Mbachu, member representing Awka South I State Constituency in the Anambra State House of Assembly

T

he spate of killings occasioned by cult activities in Awka, the Anambra State capital has risen.

This has also become a source of concern to stakeholders of the town given that it has crippled the city's growing night life.

Recently, there have been several killing of young people in Awka, and most of those killed have also been identified as cultists.

This is as the membership of cult groups in the city continues to rise.

Though cultism is mostly associated with university undergraduates, and with some institutions of higher learning in Awka, it would not be a wonder that there are cultists in the city.

But an Awka resident, Mr Uche Okafor said beside undergraduate students who are members of various cult, the main pain of the city which has made cultism what it is today are tricycles riders, bus drivers, idle youths and other artisans.

Okafor said: "The main problem of cultism in Awka is not undergraduates, it is these unschooled boys, most of who are idle. The main membership of cult groups in Awka are people you won't suspect. All these tricycle rider, shuttle bus drivers and other artisans are all members of one cult or the other.

"It is like being a member of a cult of a status symbol, and announces you as a big boy. That is why you see all these brainwashed boys joining cult everyday, despite the frequent killings.

"The main issue that has remained a problem, which is causing this killings is supremacy tussle, over ownership of loading pits and collection of revenue.

CP Aderemi Adeoye, commissioner of Police Anambra State

Awka people know the sponsors of cult activities, but incidentally, these sponsors are also known big boys, who are benefactors to some people."

In recent times, there have been several killings in the state capital, which have all been linked to cult activities, even though many go unreported.

Most surprising was the incident of July, where a man identified as, Mr Igwe Omeli, a known revenue collector was killed by suspected members of a rival cult at the popular Eke Awka Market, and his head severed off his body and made away with.

The deceased was said to have arrived at Eke Awka market, very early in the morning to resume his revenue collection job, when he sighted some boys, known to him as members of a rival cult and made to escape from them and also invite his cult members, but he was quickly gunned down, and in the midst of confusion that ensued, the assailants cut of his head and took it away, leaving behind his trunk which was later evacuated.

Just last week, a popular musician identified as Chinedu Alusi was also killed by suspected cultists from a rival group. He was shot dead in front of his residence as he ventured out of his compound on Monday morning. He was accused of being an informant to a particular cult

Anambra State governor, Prof Chukwuma Soludo

group, and said to have been leaking information to them, against another group.

A source who said he witnessed the killing said: "What is happening in Awka is not a joke. Once you're a member of a cult group, they will kill you. The best thing is not to be a member at all.

"I wonder why people are joining cult.

There is no money to be made from being a cult member, and the problem in Awka is getting out of hand and people are killed everyday, yet some other people are still enlisting in cult.

"This is a guy who was so talented in Ogene music, but see how they just wasted him," the source said.

Meanwhile stakeholders of the community have started seeking solution to the frequent killings. The member representing Awka South I State Constituency in the Anambra State House of Assembly, Hon Henry Mbachu during a recent meeting of leaders of Awka, Okpuno and Ifite, which make up Awka South I state Constituency called on them to join hands to tackle cult killings in Awka.

He said: "We have to come together to seek an end to the constant cult killings witnessed in Awka. Whether anyone likes it or not, we have our own blame in the things that are happening in Awka today.

"Everyday we wake up to news of cult killings. It is either by our action or inaction. Infiltration by outsiders is also a problem to us. We have a lot of outsiders, who have infiltrated us.

These are the matters we must treat for us to end this killings."

The stakeholders agreed to schedule a new date to set out ways to tackle the problem of cultism in the city.

On the other hand, Anambra State Police command had issued warning to cultists in the city, with the Commissioner of police, CP Aderemi Adeoye vowing to arrest cultists in the state capital.

Adeoye said the command has launched a new operation, and that all cult members in the city would be arrested. The commissioner sounded worried about the high level of cult activities in the city, while giving assurance that sanity would be restored in the city.

He described cultists as murderers who were not fit to live among decent human beings in the society, stating that they have sponsors, who always came to their aid anytime they were in trouble, but stated that the command would not listen to such person's intervention for release of any arrested cultist.

"The police command will come down very hard on these heartless cultists who take pleasure in killing people.

We warn that no one should call us for release of any cultist arrested in the coming clampdown, except they want to be disgraced.

"There will be an all out operation against cultists and their sponsors in the state. We assure the good people of Anambra State that their peace and tranquility that was punctured by the recent cult-related killings in the capital will soon be restored. We solicit the cooperation of all law abiding citizens in ridding the society of the menace of cultism," Adeoye assured.

Felix-Adejumo, Others Encourage Parents to Make Children's Future Priority Rebecca Ejifoma

P

arenting is one of the most challenging yet rewarding jobs in the world. This is a fact that global speakers like Funke Felix-Adejumo, and the I Need to Know Foundation have come to terms with when they beckoned on parents and guardians to love and invest in their children more.

This counsel was one of the highlights of the third edition of the Parents Forum powered by the I Need to Know Foundation in Lagos state.

"As parents, we want what's best for our children, and one of the most important things we can do is to love them unconditionally," says FelixAdejumo.

According to the global speaker, a robust parent-child relationship is essential for a child's healthy social, emotional, cognitive, and motivational development.

She insisted that when children feel loved, they are more likely to develop a secure attachment, which can lead to better outcomes for them.

With the theme, "Parenting against All Odds," the President of the Funke Felix-Adejumo Foundation, Funke Felix-Adejumo (a Reverend), succinctly drove home her points.

"The illiterate of the 21st Century are not the people that can read and write," she cited. "But the people that cannot unlearn.

"We need to start learning.

This generation we are dealing with is knowledge-based."

Her counsel to parents includes loving, training, befriending, and listening to their children. "Do this so that they will become vulnerable.

They have feelings, too."

While underscoring the significance of such a family conference, Felix-Adejumo expressed dissatisfaction at the low turnout of fathers.

Her words: "I expected that we would have more fathers here. There's a time bomb that is ticking. We need to start investing in our children."

She also reminded parents and guardians that the child they nurture today would nourish them tomorrow.

Arguing that the labour age has long withered, the global speaker and author cautioned parents against being swayed by social media. "Not everything that glitters is gold," she chipped in.

The Founder of the I Need to Know Foundation, Mrs. Vivian Kayode-Yusuf, said the initiative stemmed from their work with children, teenagers, and young adults.

"Following our interaction with them," she noted, "we saw the need to follow up on parents."

She and her team saw the need to

bring the parents into the picture. "It will amaze you that most of these children, in themselves, are good. For a lot of them, their parents are their problems."

Kayode-Yusuf, however, lamented the sordid number of absent parents and those who are "too busy doing nothing."

According to her, she continues to caution parents of the imminent danger of not paying attention to their children.

"If you make all the money in the world, and your children are nowhere to be found, who are you making the money for?" she argued.

The convener, therefore, called for parents to be available for their children.

"We need parents that will groom these children.

Other speakers, who engaged the minds of parents and guardians, included the President of the Global Centre for Drug Eradication, Mr. Keji Hamilton, the CEO of No Left-Over Nigeria Ltd, and Mrs. Ayodeji Megbope.

WEDNESDAY SEPTEMBER 6, 2023 • T H I S D AY

33

34

WEDNESDAY, SEPTEMBER 6, ͰͮͰͱ ˾ T H I S D AY

BUSINESS/MONEYGUIDE

FG Launches 5Year Plan to Boost Nigeria’s Fish Production Gilbert Ekugbe

The federal government has launched a four year strategic plan, the National Aquatic Animal Health Strategy (NAAHS) (2023-2027) for improved and safe fishery production in Nigeria.

Speaking at an event in Abuja, the Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr. Ernest Afolabi Umakhihe, who was represented by the Director, Department of Fisheries and Aquaculture, Dr. Ime Umoh, explained that the move was to address the challenges bedeviling the aquaculture sub sector.

Umakhihe added that the implementation of the NAAHS would minimise the negative impacts of aquatic pathogens, protect the health of human population and boost the

resilience of both marine and terrestrial ecosystems in the country.

He noted that the plan would promote international trade of aquatic animal species such as aquaculture fish, shrimps, and water snails among others.

Umakhihe stated that the development of a comprehensive aquatic animal health strategic plan would address some of these challenges in the aquaculture sector “The launch marks a significant milestone in nation’s commitment to the well-being of our aquatic ecosystems, the prosperity of our aquatic industry and exploration of the great potentials of the industry towards food and nutritional security,” he said.

Earlier, the Chief Veterinary Officer of Nigeria/Director, Federal Department of Veterinary and Pest Control

Services, Dr Columba Vakuru, said that the strategy would fast-track research and innovation in aquatic animal health, encourage investment in innovative research to develop new diagnostic tools, vaccines and treatments for aquatic diseases.

He revealed that diseases affecting aquatic animals could have severe consequences for the country’s food and nutritional security, economy, public health, and the delicate balance of Nigeria’s aquatic ecosystems.

Speaking on the overview of NAAHS, the Staff of Faculty of Veterinary Medicine, University of Ibadan, Dr. Gbolahan Oladosu, revealed that NAAHS consists of 15 programmes with 29 associated projects and activities that would be implemented over a period of five years.

MARKET INDICATORS

PAL Pensions AuM Reached N673bn in July 2023 Funmi Ogundare Pensions Alliance Limited (PAL Pensions), has announced that it reached a significant milestone with its total Assets Under Management (AUM) reaching N673 billion as of July 2023.

PAL is owned by two reputable financial institutions, FSDH Holdings Limited (owners of FSDH Merchant Bank) and African Alliance Insurance Company Limited.

The company in a statement said the journey, which started 18 years ago, in 2005, has seen it manage the Retirement Savings Accounts (RSA) of over 600,000 Nigerians and legacy funds of

some reputable organisations, consistent with its vision to be the leading Pension Fund Administrator (PFA), creating value.

Speaking on the achievements of PAL Pensions, the Acting Managing Director, Sa’adu Jijji said, “Today, PAL Pensions stands proudly as evidence of our journey. This accomplishment represents not just growth, but also fulfilled dreams, celebrated retirements, and secured legacies.” Its success, he stated, is built upon its clients “who entrusted us with their savings. We have disbursed more than N128 billion in benefit

payments to over 79,000 beneficiaries since inception.

PAL Pensions is also one of the most technologically advanced PFAs in Nigeria, offering multiple channels for client engagements.

“Our investment returns have been one of the best in the industry. To partake in the PAL PENSIONS experience and its success story, kindly transfer your Retirement Savings Account for exceptional service which includes the opportunity to use up to 25 per cent of the balance in your RSA to acquire residential mortgage and overall, a secure financial future.”

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

Sanlam General Insurance Opens New Outlet

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

0.00

---- Credit to Private Sector (CPS)

54,159,166.01

Ebere Nwoji

--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

Sanlam General Insurance, a subsidiary of Sanlam Life Insurance and member of the Sanlam Pan African group, has opened a new Sales Outlet.

The underwriting firm said the new branch would particularly aid ease of access to her motor insurance plans.

This is in addition to various channels by which the firm’s products can be purchased without stress.

Speaking at the official opening ceremony, MD/CEO of Sanlam General Insurance, Bode Opadokun,expressed his

excitement about the sales outlet.

He said “Our goal is to continually seek out ways to get our range of insurance to our target market. According to him, by opening this sales outlet, the underwriting firm has once again demonstrated its unwavering commitment to delivering unparalleled convenience, efficiency, and reliability to all those seeking comprehensive and third-party motor insurance coverage.”

He further stated that the sales outlet was meticulously designed to cater for the diverse needs of valued customers.

“With a team of highly skilled and dedicated professionals, we are confident in our ability to provide personalised solutions tailored to your unique requirements, ”Opadokun stated.

Earlier in the year, Sanlam General Insurance had introduced the first-of-its-kind USSD code *1056# for quick and accurate policy issuance and prompt claims settlement.

Aptly dubbed the Code of Confidence; the USSD *1056# is gradually gaining traction amongst policyholders who find it as innovative as it is convenient.

Firm Launches Platform to Link Farmers with Consumers Kemi Olaitan ÓØ ÌËÎËØ Towards connecting prospective farm produce buyers directly with farmers both locally and internationally, a firm, Ultiads Resources, has launched a platform farmlinkup.com, in Ibadan.

The Chief Operating Officer of the company, Mr. Omoyele Omonira, while speaking during the launching, said the platform was created as a hub or marketplace for farmers where they can link up or project their farm produce or services to the world, stating that it is an avenue to bring farmers and consumers within the country and beyond together.

While urging farmers to make use of the platform to project their products so that consumers can have access to fresh and nutritious farm produce, he said the firm is operating the platform to impute the agricultural sector into the digital system.

Omonira maintained that with the platform it will help in reducing the rate at which farmers are kidnapped in their farms, accidents on the road and the risk of logistic expenses of shipping from one place to another, noting that the platform is African online place for farmers and consumers.

According to him, “We are revolutionising the agricultural system whereby a farmer can take

pictures of his farm produce and upload, put his phone number and address and anybody in need of the product will call such a farmer for it to be delivered.

“Where we are going in this country everything is been digitalized and what we are trying to do with the platform is to imput the agricultural sector into the digital system so as to reduce the rate at which people are being kidnapped in their farms, accidents on the road, as well as the risk of logistic expenses of shipping from one place to another. Whether the farmers likes it or not they are coming online, they are coming into the internet and if they refuse, their children will do that for them.”

˾ 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 ˾ WEDNESDAY, SEPTEMBER 6, 2023

35

MARKET NEWS

Fidelity Bank Declares N76.3bn PBT, Shareholders Get N0.25 Interim Dividend KayodeTokede Fidelity Bank Plc has recorded an impressive 204.4 per cent growth in Profit Before Tax for the first half of 2023 to N76.3billion according to the bank’s recently issued financial result.

A review of the results published on the Nigerian Exchange Group (NGX) showed a positive performance across all financial indices, reaffirming the Bank’s position as one of the fastest growing and

well-managed financial institutions in Nigeria. Gross earnings for the period grew by 59.6 per cent to N247.1billion from N154.8billion reported in June 2022.

Profit After tax stood at N61.9billion representing a growth of 166.0 per cent over N23.3billion recorded in the corresponding period. This translates to an Earning per Share of 194kobo. The Bank’s Net Loans & Advances grew by 25.1 per cent from N2.1trillion recorded as of December 2022 to N2.6trillion

P R I C E S MAIN BOARD

F O R DEALS

in June 2023 with corresponding growth in Customer Deposits which increased by 23.2per cent to N3.2trillion from N2.6trillion in December 2022.

The Bank’s balance sheet remained strong with a 27.4 per cent growth in Total Assets from N3.9trillion in December 2022 to N5.1trillion. The Bank’s nonperforming loans remained low and within regulatory threshold at 3.24 per cent with adequate coverage of 111 per cent.

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Return on Equity (ROE) and Return on Assets (ROA) closed at 34.9 per cent and 2.8 per cent respectively. On the back of the strong H1 2023 performance, the board of the bank approved an interim dividend of N0.25k per share making it the second consecutive year the bank would be paying interim dividends and another demonstration of its capacity to provide shareholders with sustainable value.

Commenting on the Bank’s

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laudable performance, MD/CEO, Fidelity Bank, Nneka OnyealiIkpe, in a statement noted, “We are pleased to report on another period of quality growth across all financial and non-financial indices.

“Our performance during the first half of the year reflects the resilience of our bank and the fundamental strength of our business to deliver long-term sustainable value at a time that has been characterized by global economic headwinds.

“As a bank, we remain committed to our goal of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper.”

The Bank’s impressive H1 2023 results comes to join a string of recent achievements by Fidelity Bank. It would be recalled that the Bank’s stock was reclassified from small-price stock to medium-price stock by the NGX in July 2023 on the back of a consistent impressive performance.

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T H I S D AY ˾ WEDNESDAY SEPTEMBER 6, 2023

PROPERTY & ENVIRONMENT SaveVultures to Prevent Extinctions, Looming Epidemic, Says NCF Bennett Oghifo The Nigerian Conservation Foundation (NCF) has embarked on a rescue mission tagged “Supporting Community-based Monitoring and Conservation for Vulture Populations in Identified Vulture Safe Zones Across Nigeria” in its efforts to tackle the declining population of vulture and its associated benefits to the people. The Indianapolis Zoo is supporting this project which is part of a series of activities to conserve remnant vultures in the country.

Vulture, otherwise called nature’s sanitary prefect, is the only species of bird/ wildlife that feeds on carcasses without emitting disease into the atmosphere, unlike other scavengers. Absence of vultures will lead to outbreak of diseases such as anthrax, rabies, among others.

Nigeria is home to seven out of the 11 vultures that

exist in Africa. They are Egyptian Vulture- Neophron percnopterus (Endangered), Hooded Vulture – Necrosyrtes monachus (Endangered), White-backed Gyps africanus (Endangered), White-headed Vulture – Trigonoceps occipitalis (Vulnerable), Ruppell’s Griffon – Gyp rueppellii (Endangered), Palm-nut Vulture – Gypohierax angolensis (Least Concern) and Lappet-faced Vulture -Torgos tracheliotus – (Endangered).

The only species that seem to be thriving in the country are the Hooded Vulture and Palm-nut Vulture.

“As the world commemorates the International Vulture Awareness Day (IVAD) on 2nd September, NCF is using the opportunity to create more awareness about the importance of vultures in our society and harp on some critical efforts NCF has put in place to help improve the situation,” NCF said in a statement.

The Vulture Safe Zone (VSZ)

project is one of the Foundation’s efforts designed to protect remnant vulture populations in their natural environment, support sustainable livelihoods, preserve the ecosystem benefits of the species and promote peaceful and positive coexistence between the people and the vultures. The goal of the project is to reverse the negative trends in the viable populations of vultures found in two selected sites in Nigeria.

Some of the VSZ activities include stakeholders engagement to identify threats and design livelihood alternatives to associated threats, and training of the local community on vulture population monitoring. These activities were held on Thursday and Friday, 20th and 21st July 2023 at Iruowelle Village Community Hall Awka-Etiti Idemili South LGA of Anambra State.

The training focused on raising the capacity of community-based volunteers within the zones to methodically

observe and report the trends in vulture populations in their community. This is important as it promotes species appreciation and consciousness within the community. The volunteers were also supported with monitoring equipment which includes six

Binoculars, two GPS units, two Mobile Phones, data Sheets and other writing materials.

NCF is the foremost environmental NGO in Nigeria dedicated to nature conservation and biodiversity resources management. A key pillar in

the 2021-2025 Strategic Action Pillar (SAP) is “Saving Species in Peril”, this is a driving force to rescue species, especially endemic to Nigeria such as vultures and many other flora and fauna.

Members of the Vulture Volunteer Group with NCF officials at the Vulture Safe Zone flag off in Awka Etiti, Anambra State… recently

IEA, AfDB to Launch Joint Report on Financing Clean Energy in Africa at Nairobi Climate Summit African Development Bank for justice, decolonisation of the the impact of climate change rAfrican CSOs demand repayment of climate debt The is a founding member of the continent’s economic systems on its people.

Bennett Oghifo The International Energy Agency and the African Development Bank Group will launch the pioneering Joint Report on Financing Clean Energy in Africa today, 6 September on the sidelines of the Africa Climate Summit in Nairobi. Kenya’s President William Ruto is expected to give a welcome address. Dr Fatih Birol, Executive Director of the International Energy Agency, and Dr Akinwumi Adesina, President of the African Development Bank, will launch the report.

Meanwhile, over 500 African civil society organisations have issued seven demands on their governments and wealthy nations as the African Climate Summit kicks off.

“The African People are demanding justice, decolonisa-

tion of the continent’s economic systems and repayment of climate debt,” the CSOs said in a statement.

The Joint Report on Financing Clean Energy in Africa aims to inspire capital providers, multilateral development banks, development finance institutions, philanthropies and governments to amplify and replicate successful clean energy projects across the continent. This collective action will deliver a multiplier effect and support a cycle of change in the financing landscape, contributing to achievement of universal energy access (SDGD7) in Africa.

According to the statement, “The report draws on African Development Bank case studies from across the continent to highlight viable solutions that contribute to scaling up energy investment and to

achievement of universal access to modern energy, as well as climate-related and sustainable development goals.”

Representatives of development partners, capital providers and project developers will present key findings of the report during an interactive panel discussion following the launch.

This year’s Africa Climate Week (ACW 2023) is set to be held in Nairobi, Kenya, from 4-6 September 2023. It will be organised alongside the Africa Climate Action Summit. Both events will be hosted by the Government of Kenya. ACW 2023 coincides with the African Climate Action Summit. Its purpose is to engage with various stakeholders and empower them to promote climate action across different nations, communities, and economies.

IFMA Nigeria Chapter to Co-Host the Event on Sustainable Facility Management at the Big 5 Construct Nigeria The International Facility Management Association (IFMA) Nigeria Lagos Chapter will cohost an event on “Delivering Effective and Sustainable FM in the Built Environment” at Big 5 Construct Nigeria, Nigeria’s largest construction industry event. The event will be held on Thursday, 7th September, at the Landmark Event Centre in Lagos.

The event will feature a panel of seasoned speakers from leading organizations in the facility management industry, namely, Mr. Segun Adebayo, the Immediate Past President, IFMA Lagos, Nigeria Chapter; Professor Modupe Omirin, Dean of Environmental Sciences, University of Lagos; Engr.

Silas Ofoegbu, Member Faculty, IFMA Nigeria Lagos Chapter and ESV Stephen Ola Jagun, the first African Fellow of the International Facility Management Association (IFMA).

The speakers will discuss the latest trends and technologies in sustainable facility management, as well as the challenges and opportunities facing the industry.

“We are excited to co-host this event with Big 5 Construct Nigeria,” said ESV Lekan Akinwumi, President of the IFMA Nigeria Lagos Chapter.

“This event is important for professionals within the built industry. They will be exposed to how to optimally maintain in an efficient, safe, and sustainable manner so that they may

assist to improve the efficiency, productivity, and profitability of businesses and organizations.

The event is a great opportunity to learn about the latest sustainable facility management trends and to network with other industry professionals.”

In the past, IFMA Nigeria Lagos Chapter has collaborated with various institutions in championing notable causes within the built environment; some of these are, the Federal Ministry of Works and Housing, Lagos State Technical and Vocational Education Board (LASTVEB); Lagos State Safety Commission (LSC); Lagos State Infrastructure Asset Management Agency (LASIAMA) and the University of Lagos.

Nairobi Framework Partnership (NFP), a regional partner of the Africa Climate Week and annually contributes toward both the side events and the logistics of ACW2023.

The Regional Climate Weeks have been recognised as a platform for governments and stakeholders to strengthen credible and durable response to climate change.

Four Regional Climate Weeks will be held this year to build momentum ahead of the UN Climate Change Conference COP28 in Dubai and the conclusion of the first global stocktake, designed to chart the way for fulfilling the Paris Agreement’s key goals.

The People’s Climate Summit Unveils Urgent Demands for Justice, Decolonisation, and Survival for 900 million Africans More than 500 African civil society organisations have issued seven hard-hitting demands on their governments and wealthy nations as the African Climate Summit kicks off in Nairobi, Kenya, next week.

In their seven-point demand, the CSOs stated that “The African People are demanding

and repayment of climate debt.

They are also demanding an end to energy capture, an immediate stop to fossil fuel projects and rejection of false solutions in a move that is set to put the plight of over 900 million people in the global spotlight.” The seven demands highlighted include: Decolonise the Economy and Development; Repay Climate Debt and Deliver the Money; No False Solutions; Build Global Solidarity, Peace & Justice; No new fossil fuels; New commitments for international cooperation; End Energy Agency Capture, and Energy System Capture.

The group said, “To raise awareness on the challenges Africa is facing with climate change, The Real Africa People’s Climate Summit has organised a march on 4th September 2023 in Nairobi which brings together diverse stakeholders from various struggles and movements across Africa.”

Speaking on behalf of the Real Africa People’s Climate Summit, Hardi Yakubu, from Africans Rising stated that Africans were tired of leaders and governments paying endless lip service to Africa on

“We demand for a decolonisation of Africa’s economy and development agenda, a repayment of climate debt and delivery of much-needed money to Africa for Climate Adaptation and losses and damages, as well as real solutions to this gripping problem the continent faces,” Yakubu said.

Statistics show that Africa has been thrust into a never-ending cycle of poverty, hunger, undue exposure to climate-induced disasters, and ever-dwindling investment in adaptation and mitigation measures due to climate change.

“It is a serious indictment on world leaders and corporations that African people continue to disproportionately experience the devastating impacts of climate change for no fault of their own,” said Lorraine Chiponda from the Africa Movements Building Space.

Between 600-900 million people are facing systemic food and water shortages, debilitating poverty, and lack of access to energy or clean energy, forcing them to escape from their homes and migrate from their countries due to climate change.

LeadingRE Announces 33 New Members Leading Real Estate Companies of the World (LeadingRE), the global network of premier real estate firms, has celebrated the addition of 33 esteemed members to its professional community.

This expansion brings the firm’s worldwide membership count to 550, representing a network of more than 138,000 sales associates in over 70 countries worldwide.

The newest member firms in LeadingRE’s network include property businesses from across the globe, including in the

United States, Canada, Latin America, the Caribbean, Asia Pacific, Europe, the Middle East, and Africa.

As an invitation-only business-to-business real estate community, LeadingRE interconnects top local and regional real estate firms across the world and supports their success with best-of-industry assets, like referrals, exclusive events, elite training and education, marketing and technology resources, and support.

Expressing his enthusiasm about the growth, President of

Global Operations at LeadingRE Chris Dietz, said: “We are delighted to see our global network expand significantly this year in all corners of the globe. Our mission is to help our members be even more successful by providing powerful connections to other market leaders, opportunities to foster new business leads through referrals and knowledge sharing, and access to innovative, performance-driven programmes. It is gratifying to see this mission resonating with so many quality-focused firms worldwide.”

T H I S D AY ˾ ʹ˜ 2023

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

L-R: Group Director, Digital Transformation, ARM, Ina Alogwu; Deputy Chief Executive Officer, ARM Group, Sadiq Mohammed; Managing Director, ARM Academy, Uche Azubuike; and Executive Director, ARM Investment Managers, Mounir Bouba, during the ARMLab 5 event in Ikoyi, Lagos…recently

The Corps Marshal, Federal Road Safety Commission (FRSC), Dauda Ali Biu (middle), flanked by Deputy Corps Marshal, Operations, Joshua Kayode Fanola (right), and Deputy Corps Marshal, Motor Vehicle Administration, Osawe Efosa (left), displaying the official Gazette of the FRSC Training Institutions Establishment Act 2023 to the admiration of the management team in Abuja…recently

L-R: Chairman, Board of Trustee (BoT), TOR’Q, Adetola Akinola; Head of Strategy and Planning, TOR’Q, Bakare Adeniyi; Face of TOR’Q, Pretty Mike; and Brand Manager, Fearless Energy Drink, Kanyinsola Sangowawa, during the press conference for the unveiling of the 2023 edition of the TOR’Q premier auto sporting event held in Lagos…recently

L-R: A member of the House of Representatives, Hon Olufemi Bamisile; family members, Mrs. Jaiyeola Bamisile and Mrs. Modupe Ayodeji; and Federal Commissioner, Hon. Olukayode Bamisile, during the burial service of their mother, Mrs. Victoria Tolani Bamisile, at Omuo Ekiti, Ekiti State... recently

L-R: Chairman, Sacred Cherubim and Seraphim El-Bethel Cathedral, Shiloh Model Parish, Agege, Lagos State, Apostle Olufemi Gbogboade (JP); Dean, Lutheran Church of Christ in Nigeria, Rev. Herimas Othniel; and host, The Aladura Patriarch and Primate, The Church of the Lord Worldwide (TCL), His Holiness, The Most Reverend Rufus Okikiola Ositelu (JP), during the 87th annual Tabieorar celebration for 2023 held at Ogere Remo in Ogun State…recently

L-R: Lagos State Commissioner of Police Idowu Owohunwa; accompanying the acting Inspector General of Police (IG), Kayode Egbetokun; and the Assistant Inspector General of Police (AIG) Zone 2 Ari Alli Mohammed, during the departure of the IG to Abuja after attending the Redeemed Christian Church of God (RCCG) Holy Ghost Service at the Redemption Camp (Ogun State), at the Lagos Airport…recently

L-R: Acting Managing Director, Moniepoint Microfinance Bank, Babatunde Olofin; Head, Compliance and Risk, Ladidi Agidani; and Senior Vice President, Channels and Sales Tools, Ope Adeyemi, during the Moniepoint MFB’s Financial Inclusion Media Conversation held in Lagos…recently

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WEDNESDAY, ;˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

16TH ANNUAL BANKING AND FINANCE CONFERENCE...

L–R: Registrar, The Chartered Institute of Bankers of Nigeria, Mr Akin Morakinyo; President, Chartered Institute of Bankers of Nigeria, Mr Ken Opara ; Vice President Kashim Shettima and Minister of Budget PHOTO: GODWIN OMOIGUI . and Economic Planning, Sen Atiku Bagudu at the 16th Annual Banking and Finance Conference held at the Transcorp Hilton, Abuja…yesterday

NLC Strike Records Mixed Compliance Nationwide Declares warning strike ‘highly successful’ Shuts down airport, govt institutions, banks, others in Kano Maritime workers withdraw services at ports Our Correspondents The first day of the two-day nationwide warning strike called by the Nigeria Labour Congress (NLC) to press the federal government to finalise post-petrol subsidy removal palliatives for workers recorded mixed compliance nationwide.

THISDAY’s findings across the states showed that while there was full compliance by the NLC and its affiliate unions in some state, others recorded partial compliance and in some states, the level of compliance was poor.

But the leadership of the NLC claimed that the first day of its warning strike was highly successful.

The labour movement said it was delighted with the massive support Nigerians gave the strike against hardship imposed by the removal of fuel subsidy by the Federal government.

In a statement signed by the NLC President, Joe Ajaero, the congress said the strike achieved success having, "sent the right message to those who doubt our determination to push through with our objectives."

It added: "This is to applaud all Nigerian workers through the actions of all our affiliates and state councils for the massive support and efforts at ensuring that the first day of the nationwide warning strike took off with a resounding success across the nation.

"You have all demonstrated that your words and decisions will always be backed by action. This has resonated in every part of the country today and we are sure that the message has been sent to those who doubt our determination to push through with our objectives.

"We are glad to inform you that all of our objectives for the first day were fully met because of the high level of compliance experienced as a result of your collective efforts around the federation.”

The NLC further commended Nigerians for their commitment towards ensuring that the reasons

for the warning strike were fulfilled.

"We however urge you all to continue with the same zeal and determination which saw the huge success that was recorded today as we move to the second and final day of the nationwide strike to ensure a complete success of the entire exercise,” it added.

While thanking all Nigerian workers and indeed the masses for their understanding, the NLC stated: "As we go through this trying time, we call for more efforts of the kind you showed today and urge all of us to join hands to ensure that all loopholes observed during today’s action are plugged so that tomorrow’s action will be a total success.

"It is our civic duty to ensure that we are governed effectively and that those in government remain accountable to the people at all times!

“We are committed to that and with your continued support, our nation will surely become a better place for all of us."

Abuja Witnesses Blackout Due to Strike

Residents of the Federal Capital Teritory (FCT) woke up to experience power outage around the city and its environs as organised labour commenced the first day of its two-day warning strike in protest over the harsh economic situation in the country.

Also there were reports of disruptions in normal water supply to some residential areas in Abuja.

The labour strike also disrupted normal operations in several ministries and parastetals in the Abuja.

However, some banks opened for operations despite the directive by the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) urging total compliance with the two-day warning strike.

According to a public awareness notice issued by the Abuja Electricity Distribution Company (AEDC), the organisation said:" We are aware

of the general power outage being experienced across our franchise due to the enfircent by the NLC of Two-Day warning strike embarked upon by the labour union.

The statement read: “We apologise for any inconvenience you may be experiencing as a result of this, as we continue our engagement with key stakeholders towards minimising the impact of the strike on our customers.”

Airport, Govt Institutions, Banks Others Comply in Kano

The enforcement team of the Kano Chapter of the NLC shut down public and private institutions as part of the measures to ensure strict observance of the two-day nationwide warning strike in the state.

In the early hours of yesterday, an enforcement team was on the ground to shut down the Mallam Aminu Kano International Airport (MAKIA), schools, government offices, banks, Kano Electricity Distribution Company (KEDCO), and other facilities in the state.

The State Vice Chairman of the union, Ado Riruwai, who led the enforcement exercise explained that it shut down all government offices in the state.

Speaking with journalists, the State Chairman of the union who led the enforcement team, Kabiru Inuwa, explained that the strike action became necessary as it appeared that the federal government was paying lip service to the sufferings of the Nigerian masses months after removing fuel subsidy.

He lamented that workers in the Kano were witnessing unimagined hardship as the minimum wage was no longer sufficient, coupled with the heightened cost of living standard.

"While top government officials still maintain an extravagant lifestyle, the poor masses are still grappling with the necessities of life.

“This is just a warning strike, as

announced by the national body and if the FG fails to meet the demands of the masses, then an indefinite strike will take place.

“If it reaches a stage where labor embarks on an indefinite strike, there will be no turning back until the FG meets all demands of the NLC,” he added.

In Lagos, Members of NLC in Maritime, Bank Sectors Withdraw Services

In Lagos, among other federal government agencies, the Maritime Workers Union of Nigeria (MWUN) shut the entrance to the Apapa and Tincan ports, with members brandishing placards calling on the federal government to end the mass hunger and suffering in the country.

The Secretary-General of MWUN, Erazua Oniha, said in total compliance with the strike, members withdrew their services from the ports, jetties and terminals, as well as all oil and gas platforms nationwide.

"Our demand is about the hike in price of petrol which is making lives of Nigerians to be somehow difficult due to the removal of subsidy.

“Another one is the interference of federal government in the NURTW crisis, whereby the national secretariat of the body was taken over," he said.

Even banks that are unionised and under NUBIFIE, were not left out as their head offices were shut down by labour.

Chairman of NLC, Lagos Council, Funmi Sessi, said members were at home and that those operating were TUC members.

"All NLC affiliates are at home.

Those at workplaces are TUC members. If we say we should go and do a total shut down there might be a breakdown of law and order between us and TUC. I will be at Alausa secretariate to monitor the compliance level and those who are out will be reported to the national body," she said.

NCAA Directs Aviation Workers to Report to Work

The Nigeria Civil Aviation Authority (NCAA) yesterday, directed all aviation workers to report to duty, saying failure to do so would amount to sabotage of the International Civil Aviation Organisation (ICAO) Universal Safety Oversight Audit Program (USOAP).

The ICAO team arrived Abuja on August 28, for the much-awaited audit of the nation’s airports and the NCCA for the Universal Safety Oversight Audit Programme (USOAP).

The team started the audit from NCAA, going through safety critical processes, manuals, certifications, trainings and qualifications of technical personnel.

The team extended its work to the Nigerian Safety Investigation Bureau (NSIB) and may conclude the audit on the agency tomorrow, as all the aviation agencies where air safety is critical would be audited by the ICAO team.

This was why the NCAA felt that it was pertinent that aviation workers should be on their posts while the audit was going on; otherwise, it would seem they chose to sabotage the audit and the international rating of Nigeria’s aviation sector.

A circular signed by Wakil Adamu from the office of the Director General, NCAA, with Ref. No: NCAA/DHR&A/03/1549/1/163, dated 4th September, 2023, addressed to all aviation workers, stressed on the need for the workers to be on their jobs while the audit is going on, noting the importance of the audit exercise, which it said cannot be overemphasised.

“This is to inform all members of staff that management has directed all staff to report to their duty post, failure to comply, will be taken as sabotage of the ICAO’s USOAP. “The importance of the ongoing audit in the aviation industry should not be over emphasised.”, the circular stated.

Ogun State Records Partial Compliance

The NLC strike recorded partial compliance in Ogun State as some civil servants, health workers in some government hospitals, reported for work at their respective duty posts.

At some of the federal institutions visited yesterday, which included the Federal Medical Center, Idi-Aba Abeokuta, only medical doctors and nurses were fully on ground to carry out their duties, while other workers who are members of the Medical and Health Workers Union of Nigeria (MHWUN) were absent.

Same scenario was recorded at the State Hospital, Ijaiye, Abeokuta, where the premises was under locks and keys even from the main gate.

At the Federal University of Agriculture, Abeokuta (FUNAAB), the strike recorded a full compliance as members of the Non-Academics Staff Union (NASU) paralyses activities in the institution.

However, commercial bank workers complied with the directive to stay off work.

Source within the banking sector in Ogun State however, confided that management of some of the money deposit banks placed their workers on a "stand-by" in case of any change in the arrangements.

At the State Secretariat Complex in Oke Mosan area of Abeokuta, some civil servants, particularly, those whose unions, were under the umbrella of the Yrade Union Congress (TUC), reported for work.

This was because the TUC did not join the strike.

The Chairman of the TUC in Ogun State, Mr. Akeem Lasisi, disclosed that members of the Council would not be participating strike, due to ongoing engagement with the federal government.

In Benue, Strike Records Success

The two days warning strike by Continued on page 39

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THIRTY-NINE

Oil Price Exceeds $90 Per Barrel as Saudi, Russia Extend Cuts to December Rising prices could pose dilemma for Nigeria

Emmanuel Addeh in Abuja Saudi Arabia and Russia yesterday announced that they would extend voluntary oil cuts until the end of the year, sending the price of Brent crude, Nigeria’s benchmark, to a 10-month high of over $90.

The Saudi production cut of 1 million barrels per day which first took effect in July will continue "for another three months until the end of December 2023", the kingdom's energy ministry said in a statement.

Russia's export cut of 300,000 bpd will continue for the same period, AFP quoted the Deputy

Prime Minister, Alexander Novak, as saying in a separate release.

The rising price of crude oil remains a dilemma to Nigeria which is currently unable to take full advantage due to its lack of capacity to produce the quota allocated to it by the Organisation of Petroleum Exporting Countries (OPEC).

While the oil cartel expects Nigeria to drill 1.742 million barrels per day, the last production figure for July showed that the country was only able to produce 1.08 million bpd, with a deficit of over 700,000 bpd for that month.

On the other hand, if the federal

government does not restore some level of subsidy on the pump price of petrol , the rates Nigerians pay could likely shoot up in the coming months since there’s a direct positive relationship between crude prices and fuel prices. The government has recently said it does not plan to raise prices.

However, yesterday, Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 per cent to $87.16.

Riyadh, the world's biggest

crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.

A statement in early August revealing the cut would last through September included a warning that it could be "deepened", but Tuesday's announcement has kept it at the same level for now.

That decision "will be reviewed monthly to consider deepening the cut or increasing production", the energy ministry statement said as quoted by AFP. The unilateral Saudi cut followed a decision in April by several

OPEC+ members to slash production voluntarily by more than 1 million bpd, a surprise move that briefly buttressed prices but failed to bring about lasting recovery. Last October, OPEC+ agreed to reduce output by 2 million barrels per day.

That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.

Oil prices increased in July, the first month the Saudi-only cut took effect, clearing the $80 per barrel threshold analysts often say Riyadh needs to balance its budget, though

the various production cuts could push that threshold higher.

Saudi daily production is at approximately 9 million bpd, far below its reported daily capacity of 12 million bpd.

In August, oil firm Saudi Aramco announced profits of $30.08 billion for the second quarter of 2023, a fall of 38 per cent from the same period last year when prices surged after Russia invaded Ukraine.

In Nigeria, the state-owned Nigerian National Petroleum Company Limited (NNPC) is yet to release its Annual Financial Statement (AFS) for 2022.

NLC STRIKE RECORDS MIXED COMPLIANCE NATIONWIDE the NLC in Benue State recorded huge success in Makurdi, the Benue State capital. Banks and government offices complied with the NLC’s directives, while other institutions partially complied too Speaking to newsmen on the decision of the NLC to call out workers, the Benue State Chairman of the NLC, Terungwa Igbe, who led a team to monitor the exercise maintained that the timing of the removal of petrol subsidy by the federal government was completely wrong.

The NLC Chairman said: “The fuel subsidy removal is something that has affected all of us. Before now if you have N20,000 it was something, but now it is worthless.

“If you buy N10,000 fuel it will hardly take you for three days. The hardship in the country is too much, and the government is looking the other way.

“That is why we have asked the industrial unions to tell their members to stay at home.”

On the failure of the TUC to join the action, Igbe said “TUC non participation in the warning strike will not affect us.”

Socio-economic Activities Grounded in A'Ibom

Economic and social activities in Akwa Ibom State came to a standstill yesterday as the NLC commenced a two-day warming strike.

The Idongesit Nkanga State Secretariat Complex, the Dakkada Secretariat Annex and the Federal Secretariat Complex all in Uyo, the state capital and other government

offices were locked.

However, skeletal services were carried out by key offices in Government House while commercial banks were closed except for their ATM outlets.

The State Chairman of NLC, Sunny James, said the industrial action in the state was, “successful" adding that the body has mobilised all the units to observe the strike.

The chairman called on all NLC members to ensure strict compliance with the directive of the national body and the public to cooperate with NLC to finding lasing solutions to the economic hardship facing Nigerians based on the fuel subsidy removal.

Partial Compliance in Kaduna

There was partial compliance with the NLC warning strike in Kaduna yesterday. State and federal government offices in the state were deserted as workers stayed away from work.

Commercial banks along Yakubu Gowon Way, within the metropolis were closed.

Public schools were also closed.

However, private however opened for normal activities.

Kaduna State Chairman of the NLC, Ayuba Magaji, said the warning strike was a warning signal to the government that things were not well with Nigerian workers.

"Nigerian workers and the masses are suffering. That economic conditions are harsh. Many people are living in hunger and abject poverty.

They cannot meet their basic needs.

OTEDOLA COMMENDS SANWO-OLU ON SUCCESSFUL COMPLETION OF LAGOS BLUE RAIL Commenting on the development, Otedola said: “This should gladden and make every Lagosian proud. This is because the idea of governance is to build world class infrastructure for the people to benefit.”

He commended Sanwo-Olu for his focused leadership and determination to transform the state with world class infrastructure in the areas of transportation, health, security, power generation and transmission and enabling business environment.

“The governor is showing uncommon leadership, focus determination, willpower to deliver even in the face of very limited resources available to him.

He has remained undeterred and unwavering.

“This particular rail, even though it took so long to complete, he has shown tremendous courage that he is capable of doing the heavy lifting.

“This is a signature project that he is bequeathing to Lagosians.

To even think that the red line is coming up soon is also something to rejoice about,” Otedola added.

Otedola pointed out that the new rail infrastructure would make life easier for residents of the state, bring more comfort to them, reduce the time of commuting, lessen the traffic challenge in the state as well as reduce cost of transportation.

The billionaire enjoined other states to Lagos in his infrastructure drive. He also called all wellmeaning Nigerians to continue to support the Sanwo-Olu-led government as it strives to change the face of Lagos. “I call on other state governors learn from Lagos and replicate same in their respective states,” he added.

He also advised residents of the state to ensure that the ultra-modern facility is well protected so as it would serve the purpose for which it was created.

The Blue Line Rail project was constructed by the Lagos State Government and supervised by the Lagos Metropolitan Area Transport Authority (LAMATA), as part of the development and improved intermodal transport system in the state.

The rail line project started during the administration of former Governor Babatunde Fashola but the first phase – 13km (Marina to Mile 2) on the Lagos-Badagry corridor was completed by the Babajide Sanwo-Olu’s administration.

The Blue Line Rail was commissioned in January 2023 by former President Muhammadu Buhari.

The project was conceived by President Bola Ahmed Tinubu, the first Governor of Lagos State.

The Red Line Rail project is 96 per cent completed would be commissioned by Tinubu before the end of the year.

“The standard of living is very high and our income cannot take care of the demands of our families", the NLC chairman said in an interview.

He said the warning strike, "is to tell the government that we are not happy. Our salaries can no longer take us to the next bust stop, talkless of taking us home and we need an urgent solution.”

He called for urgent solution to the problems facing Nigerians, stressing the palliatives being distributed were welcome but not a permanent solution.

In Kwara, Workers Shun NLC’s Directive

Workers in the Kwara State public service yesterday shunned the strike action directed by the leadership of the NLC. Also yesterday, some commercial banks opened their gates to customers in Ilorin earlier, but later shut their gates and drove back customers in compliance with the NLC’s directive. Commercial vehicles including taxi cabs, tricycles and motorcycles were plying the roads on Tuesday without being part of the strike.

However, a visit by THISDAY to state secretariat located along Ahmadu Bello Way showed that, the workers were at their various duty posts.

State Chairman of NLC, Saheed Olayinka, was not on hand to comment on the strike as he did not pick all the calls put across to him.

Chairman of of National Union of Agriculture and Allied Employees, David Ehindero, described the strike as a success.

In Bayelsa, Low Compliance Recorded

Members of the Bayelsa State Council of the NLC yesterday, joined their colleagues across the country to observe the warning strike called by their national body.

The Chairman, NLC, Bayelsa State, Simon Barnabas, confirmed that its members complied with the directive of the national body.

Barnabas said: "We joined the warning strike. I am monitoring it with my team to ensure total compliance. It is a warning strike.

We embarked the strike ahead of a total action at the expiration of the 21-day ultimatum we have given the federal government.

"We are on the two-day warning strike to agitate for the federal government to ensure that the nation's refineries are made to work and to press for other conditions of services that will help to ameliorate our sufferings of the people including workers occasioned by the removal of fuel subsidy and other very urgent needs."

However, warning strike was greeted with apathy as it recorded low compliance as scores of civil servants turned up for work claiming ignorant of an industrial action.

In some government establishments, some workers who were not sure of a strike action were notice in groups discussing the matter, while others said they were waiting for a directive from their bosses.

It was noticed that though most banks did not officially open for

services, they offered skeletal services through the back doors.

Some security guards were seen opening the back doors for customers to go and transact their businesses in the banking halls.

It was also observed that schools were in full session just as government offices experienced beehive of normal activities.

Unlike the previous strikes, many residents and indigenes of the state capital, Yenagoa, appeared not to know if there was any strike.

Government Activities Paralysed in Osun

In Osun State, activities in various government agencies were grounded.

THISDAY observed that the entrance gate of the Transmission Company of Nigeria, (TCN) was shut and workers were denied access into the premises.

Similarly, secretariat of local government areas in the state were deserted as few workers seen were only hanging around the premises in numbers.

Addressing Journalists at the TCN entrance, Vice President, West, National Union of Electricity Employee, Sodiq Adewale, said the union complied totally with the strike directive.

"We are part of the strike and we are critical stakeholders as far as NLC is concerned. Presently, in compliance with the NLC directive, we are mandated to embark on a warning strike which started today and will continue tomorrow.

“As you can see, the whole place is under lock. Nobody is coming in and as time goes on, we are going to be reviewing our activities at the level of our actions. So far from our end, we have a total compliance," he added.

However, some workers were seen at the State Government Secretariat, Osogbo in various offices, but the NLC Caretaker Chairman, Modupe Oyedele said those workers were members of the TUC.

In Niger, Union Cut Off Electricity Supply, Secretariat Gates Closed

Electricity Supply to most homes and businesses in Niger State was disrupted as a result of the NLC warning strike.

Also, gates to the State Secretariat complex and other government offices in Minns were shut making it impossible for workers to go in.

Some top civil servants who arrived the Secretariat early were chased out of the complex by the NLC monitoring team who later locked the gates.

However, commercial banks in Minna opened for business just like the markets and departmental stores.

Only very few vehicles were on the roads though petrol stations were all opened to customers.

The State Chairman of the NLC, Mr. Idris Lafene, told THISDAY that, "We are satisfied with the level of compliance, so far so good."

Lafene said the Congress would report the five banks that refused to comply with the directive to the national leadership of the Congress.

In Delta, Abysmal Compliance Recorded

There was abysmal compliance, yesterday with the warning strike action embarked upon by the NLC in Delta State.

Although some workers stayed away, others were seen milling around the federal and state secretariats Asaba discussing in clusters.

One of the workers, who spoke to newsmen on condition of anonymity, expressed disgust with what he described as poor coordination of the strike action in the state.

Whereas the workers were denied access to the secretariats in compliance with the NLC directive, some banks, though locked up their gates, attended to their customers through the back door.

In Warri axis, scores of workers were prevented from entering the port premises at the Nigerian Ports Authority, Warri by officials of the NLC. The NLC Officials were clad in white polo shirts and white face caps. There was no placards or overt demonstrations, even though there was palpable anxiety.

However, Chairman of Delta chapter of NLC, Goodluck Ofobruku, said the compliance was high noting that, "you must not forget that we have NLC and TUC. NLC is controlling 90 per cent of the Unions and TUC, 10 per cent.

"The 90 per cent of the unions that are under the NLC have shutdown.

Maybe only the fee people around government offices are TUC people", he said.

In Anambra, Streets, Govt Offices Deserted

Streets in Awka, the capital city of Anambra State and other major cities in the state were yesterday deserted over the two days warning strike declared by the NLC. Also, many government offices were devoid of workers, as places like the state and federal secretariat looked scanty.

The NLC leaders, led by the State Chairman, Humphrey Emeka Nwafor, led a team of members to on enforcement, while visiting some Ministries and agencies.

Addressing journalists shortly after the exercise at Teacher's House Awka, yesterday, the NLC State Chairman said they were joining their counterparts across the country to compel the federal government to address the plight of workers and the citizenry at large.

“As workers, we are badly affected by the economic crisis visited on Nigerians as a result of the hike in the pump price of petrol, all in the name of subsidy removal.

“We had earlier written to the federal government to adjust our wages automatically in line with the existing economic realities but that has fallen on deaf hears,” he added.

Strike Paralyses Business Activities in Rivers

Business activities were partially paralysed in parts of Rivers State yesterday due to the NLC two-day warning strike.

Court premises, some Banks, filling stations, federal agencies and other commercial institutions

in the state capital and its environs were shut down in compliance with the warning strike.

However, a staff of one of the state-owned media organisations, who pleaded anonymity noted that Rivers witnessed about 50 percent compliance.

"On the level of compliance, I can tell you that Rivers State recorded over 50 percent compliance. If the state chapter of NLC had also issued its directive like the national body to its affiliate bodies, I am not sure you could have seen anybody around the secretariat and some other strategic places".

In his reaction to the action, the south-south zonal chairman of the Civil Liberty Organisation (CLO), Karl Chinedu said the rights group was not convinced with the position of the NLC to embark on the warning strike.

Chinedu said Nigerians were fully aware that the President Bola Tinubu government was “anti-masses,” wondering why NLC should always keep talking about the welfare of only workers when millions of Nigerians were dying of poverty occasioned by the hardship resulting from the policies of this government.

He said the strike should focus on forcing government to fix the four refineries which had been grounded over the years thereby causing Nigerians untold hardship.

NLC Strike Was Avoidable, Says CSJ

The Centre for Social Justice (CSJ) has said the industrial action embarked upon by the NLC could have been prevented with sincere government action after the removal of fuel subsidy and floating of the naira.

In a statement issued yesterday, the CSJ acknowledged the significance of President Bola Ahmed Tinubu's policy reforms, particularly the removal of fuel subsidy and the floating of the naira, however highlighting Tinubu's lack of proactivity in devising measures to ameliorate the attendant hardship arising from these policy pronouncements.

According to the Lead Director of CSJ, Eze Onyekpere, “President Bola Ahmed Tinubu missed the tidal waves of support in favour of his two main policy reforms – the fuel subsidy removal and the floatation of the Naira – by not taking proactive measures to arrest the hardships resulting from the reforms.

“The expectation was that President Tinubu would announce the cushioning interventions alongside the reform policies, and such interventions were not to be futuristic but to kick in before or immediately with the reform pronouncements.

Regrettably, this has not been the case.

“For example, the proposed increase in workers' salaries, which has been pending for three months now, remains unresolved in a country where the minimum wage is thirty thousand naira ($39.04) per month.

This starkly contrasts with fellow African nations such as Algeria, South Africa, and Morocco, where the minimum wage is $170, $242, and $360, respectively.”

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INAUGURATION OF KOGI APC CAMPAIGN COUNCIL...

L-R: The Lagos State Governor, Olusola Babajide Sanwo-Olu; APC Deputy National Chairman South, Chief Emma Eneukwu; and APC Deputy National Chairman North, Ali Bukar Dalori, at the Inauguration of the Kogi State APC National Gubernatorial Campaign Council in Lokoja …yesterday

Nigeria Air Project Remains Suspended, Keyamo Clarifies Says Abuja second runway to be completed in 12 months Sumaina Kasim The Minister of Aviation and Aerospace Development, Festus Keyamo, yesterday, said the long-awaited Nigeria Air project remains suspended despite speculations of its revival.

Keyamo, while speaking to journalists during a facility tour of the Nnamdi Azikiwe International Airport (NAIA) in Abuja, addressed concerns surrounding the project and firmly stated that he would not overlook potential red flags associated with the project.

He noted concerns of Nigerians about the project, saying, "the Nigeria Air project will not commence until all documents signed before, during and after the alleged launch of the project are thoroughly scrutinised."

According to him, "Well, the next step will be for the federal government as a body, not just me as minister, to look at all the reports which I'm putting before them to make a final decision?

“So, no final decision has been taken on all of these, but I won't be here because it will be very irresponsible of me as a minister to come in and agencies of governments are raising red flags here and there, and I will keep quiet.

"I'm not talking about even Nigerians complaining, agencies of government are raising red flags about the project. And I, as a functionary of government

as a minister, will then wave all of those red flags away.”

Keyamo, expressed dissatisfaction with the deteriorating condition of certain airport facilities and committed to institute a culture of maintenance within the airport.

"Now on a visit to most of our airports, those are the problems we are facing. Even with this new facility, I understand only four of the ten chillers are working. Now, what is the immediate solution? I have told them that my mentality to some of these things is that for example, most of those lifts that are obsolete instead of fixing them and fixing them and by the time you fix them three times, you are almost buying a new one. I told them to get rid of them. Let us buy high quality lifts to promote a new brand here.

"The ones I saw here are not good enough. I know about lifts; they're not good enough. So, I will not be here for them to go and buy substandard lifts again, the ones that can take high traffic and we see them all over the world.

Lifts are not what you just buy locally. There are good brands all over the world.

"So I've told them to get rid of these lifts. I won't spend the money repairing them every two months. That's my attitude towards it. Let's be patient.

"Now, beyond that we should also have a maintenance culture.

If we cannot maintain these things internally because these things are more like consumables in

quotes. Let us get people who can maintain them and we can hold them responsible."

On the Abuja second runway, the Minister said compensation to the host communities had begun, adding that the project would be completed in 12 months.

"You know I had to go and meet the FCT Minister to get that project off the ground in terms of clearing the obstacles on the way. So, as of today the report I have is the money we paid to FCT for them to pay to the settlers there, they have started paying

Top government functionaries, a diverse community of leaders of thought, innovators, policymakers and industry experts are billed to brainstorm in Abuja, at an Africa Climate Forum with the aim of eliciting a change in the energy landscape in Nigeria and the entire African continent.

The forum was put together by the Global Centre for Law, Business, and Economy (GCLBE), a leading international organisation dedicated to advancing sustainability, promoting legal excellence and fostering economic development.

GCLBE Director General, Dr. George Nwangwu and the event

planner, Phil Okoroafor, who announced this in a statement in Abuja, yesterday, said the event with the theme, 'Powering the Future: Financing Energy Transition for Sustainable Progress,' holds between October 10 and 11, 2023 at the Armed Forces Officers Complex, Asokoro, Abuja.

According to the organisers, “the world is at a pivotal moment in its pursuit of a sustainable future, and this conference serves as a beacon of hope and progress; and with the aim of accelerating the global transition to clean and sustainable energy sources. It will also feature an exciting and innovative exhibition.”

Key highlights of the conference

is a low hanging fruit for us and we think it's extremely important.

“I pray that all agencies of government, the National Assembly, the presidency, will give us the support to make sure we deliver that project within 12 months", he said.

Edo Govt Announces Routes for Intra, Intercity Free Transport Service Free bus service kicks off September 11 Edo State Government has released routes for its new free transport service scheduled to kick off across the state from Monday, September 11, 2023.

Edo State Governor, Mr. Godwin Obaseki, had, on Monday, approved free transport service for passengers on all routes operated by the state-owned Edo City Transport Ltd (ECTS) to cushion the effect of the fuel subsidy removal policy by the federal government on the people of the State.

The free bus service which spans an initial two-month period covers commuting within the Benin metropolis and from Benin-City to the major cities in the three senatorial districts and would run between 6.30 am and 7 pm daily.

In a statement to announce the routes, Chief Press Secretary

to the Edo State Governor, Andrew Okungbowa, restated the government’s commitment to the welfare of Edo people, reassuring that the government would sustain efforts to ameliorate the sufferings of residents amid the fuel subsidy removal policy of the federal government.

According to Okungbowa, the inter-city routes are Auchi - Igalla Ibillo–Ososo; Uzebba–Ikhin – Otuo, and Abudu to Ubiaja.

Others are Abudu to Urhonigbe and Ewohirin to Ewatto.

He further listed the intra-city routes to include Ramat–Kingsquare; New Benin–Kingsquare; Kingsquare – Ekenwan Road; Kingsquare–Airport Road; Kingsquare–Sapele Road and Kingsquare – Adesuwa. Other intra-city routes announced by

Top Govt Officials, Industry Experts to Brainstorm at Africa Climate Forum

Ndubuisi Francis in Abuja

them and they started moving.

"This is a project Nigerians have been waiting for forever. It has been a controversial project from President Obasanjo time to now.

Well, thankfully, this government is set to commence that project and it's one of the projects that

include inspiring keynotes with visionaries from various sectors sharing insights into the latest developments in energy transition and sustainable financing; interactive panel discussions.

Engaging conversations on the most pressing topics in clean energy, finance, and sustainability would be led by experts at the forefront of change.

The event would also explore groundbreaking technologies, projects and solutions driving the global transition to sustainable energy sources.

The gathering would also feature networking opportunities where participants would connect with like-minded professionals and

create lasting partnerships that would drive actionable change, as well as pitching opportunity for renewable energy Startups.

"The Africa Climate Forum is not just an event; it's a movement and an opportunity for all of us to come together, share insights, and collaborate on the solutions that will power our sustainable.

"We believe that showcasing innovative solutions is a crucial part of driving the energy transition forward, and so in addition to the inspiring conversations, we are putting together an exhibition to provide a platform for organisations to spotlight their contributions to a sustainable future," the statement noted.

the state government were Kingsquare–Ogida; New Benin – Upper Mission; Kingsquare–Ugbowo; Kingsquare–Agbor Road; Kingsquare–Upper Sokponba; New Benin – Ugbowo and New Benin–Aduwawa.

Okungbowa noted, “We are confident that this transportation support by His Excellency,

the Executive Governor of Edo State, Mr. Godwin Obaseki, will significantly reduce the citizens’ mobility problems and improve their welfare within this period of hardship occasioned by the fuel subsidy removal of the federal government, while all efforts are being made to purchase new gas-powered buses for the State.”

Oil Theft: Ijaw Group Slams Navy, Urges FG to Renew Tompolo's Surveillance Contract Sylvester Idowu in Warri The Ijaw Youths Council (IYC) has condemned the arrest and detention of operatives of Tantita Security Services Nigeria Limited (TSSNL) by the Nigerian Navy over alleged participating in oil theft.

The group alleged that the flimsy excuse given by the Nigerian Navy that the arrested Tantita workers were escorting vessel with stolen crude oil and later changed to possession of illegal weapons exposed the government security agents as not being truthful to the fact of the matter IYC, Western Zone, comprising Edo, Ondo and Delta States, in a statement issued in Warri, yesterday, which was signed by its Chairman, Dr. Doubra Collins Okotete; Secretary, Olu Derimo and Information Officer, Lugard Izoukumor, however urged the federal government to call the Nigerian Navy to order.

"We the IYC, a leading youth organisation advocating for the rights and development of the Ijaw people in Nigeria, would like to express its support for Tantita Security, condemning the Nigerian Navy, and

call upon President Ahmed Bola Tinubu to reconsider the pipeline surveillance contract and reaward it to Tompolo.

"Firstly, we are proud of Tompolo and commend his Tantita Security in ensuring the safety and security of pipelines within the Niger Delta region. Their professionalism, dedication and track record of success have been exemplary.

"However, we are deeply concerned about the recent incidents involving the Nigerian Navy in the region in their desperate move to work with enemies of the Niger Delta, within and outside the region, to malign and consciously detract the good work of Tantita Security," it stated.

While urging Tinubu to ignore antics of the Nigerian Navy and dubious elements to run Tompolo down, the IYC noted that renewing Tantita's contract would foster harmonious relationship between the government and the Niger Delta communities, adding that, "this would not only ensure the safety of pipelines but also create opportunities for local employment, skills development and economic growth.”

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MAKINDE INSPECTING SCHOOLS...

L-R: Oyo State Governor, Seyi Makinde; Commissioner for Environment, Hon Abdulmojeed Mogbonjubola and Commissioner for Information, Prince Dotun Oyelade, during the inspection of some schools in Ibadan in the early hours of yesterday.

IBAN, SNB Condemn Destruction of AIT, RayPower Building, Equipment by Rivers Govt Wale Igbintade The Independent Broadcasting Association of Nigeria (IBAN) and Society of Nigerian Broadcasters (SNB) have condemned what they described as “the wanton destruction” the building and equipment

of Daar Communications PLC, operators of Africa Independent Television (AIT) and Raypower by the Rivers State Government.

IBAN in a statement signed by its Chairman, Murray Bruce, described the demolition, which occurred on Monday, September

4, 2023, as self-help, illegal, and an abuse of court order.

The association stated that the action of the Rivers State government was detrimental to the nation's nascent democracy, as the dispute on the land between Daar Communications PLC and

Rivers State Government is still a subject of litigation before a court of competent jurisdiction "IBAN views the action of the Rivers State Government as an attempt to intimidate and silence the media, which is the watchdog of the society. It calls on the Rivers

Report: Crypto Trading Platforms Not Implementing Know-your-customer Requirements Says 40% of trading platforms decentralized Global equity capitalisation rises 7.5% half-year Ndubuisi Francis in Abuja A report from the World Federation of Exchanges (WFE), a global industry group for exchanges and central clearing counterparties has revealed that despite most countries imposing know-your-customer requirements, both centralised and decentralised crypto trading platforms have fallen short in implementing such measures due to lack of uniform crypto regulations.

The new report also noted that 40 per cent of the crypto-trading platforms were decentralised and make use of distributed ledger technology.

On the other hand, the majority, or 60 per cent of platforms make use of Central Limit Order Books (CLOBs), quite similar to regulated exchange platforms.

The WFE disclosed that retail demand was higher for crypto products but there was a lack of awareness on investor protection.

The report noted that there were a total of 500 crypto trading platforms offering various crypolinked products and services. The survey saw participation from several crypto platforms offering key insights into retail and institutional demands.

The report noted that many crypto platforms opted to rely on an off-chain CLOB system for price oracles, quote display and order execution.

These entities only use the blockchain for settlement and custody purposes.

This means traders do not interact directly with the DLT, which eventually helps in saving on transaction cost.

In this way, the transaction fees only apply when orders are settled on the blockchain. Crypto-trading

platforms with this type of arrangement are called centralised platforms (CEX).

According to the survey, retail demand for crypto-linked products and services was higher compared to institutional demand, except for custody services.

Institutional giants have shown a greater requirement for crypto custody services, and demand is higher.

Based on the different types of product demands by the two segments of investors, the report estimated that retail customers were less aware about the importance of investor protection.

Talking about the liquidity and customer demand, the report found that centralised exchanged enjoy a higher trading activity despite decentralised platforms offering lower transaction fees.

The report also shed light on the difference in price for same trading pairs on different platforms, leading to arbitrage opportunities.

However, the WFE report claimed this type of price fluctuation highlights a potential inefficiency issue in the crypo market.

The report further found that despite most countries imposing know-your-customer requirements, both centralised and decentralised crypto trading platforms had fallen short in implementing such measures due to lack of uniform crypto regulations.

Meanwhile, the WFE has reported that geopolitical and economic tensions have hampered expectations of a quicker global economic recovery and improved market confidence.

It stated that the various geopolitical and economic tensions that markets experienced during the first half of 2023 have hampered hopes

of a faster economic recovery.

The WFE H1 2023 Market Highlights, showed that global equity market capitalisation increased by 7.5 per cent in the first half of 2023 compared to the end of the second half of 2022, representing a growth of more than $7.8 trillion in the global markets.

However, there was a drop in the global number of initial public offerings (IPOs) and in investment flows compared to the same period in 2022.

Only a few markets, notably the United States, bucked the trend.

The WEF report stated: "The data we present in this summary for the first half of 2023 reflect how these tensions have affected markets.

"Most significantly, we see a decrease in the global number of IPOs and in investment flows, which respectively fell 27 per cent and 53.4 per cent when compared to the same period in 2022.

"Only a few markets, notably the U.S., offered a positive trend.

In a similar line, trading activity in the cash equities decreased across regions, reflecting lesser interest in participating in the markets.”

State Government to stay action and allow the judicial process to prevail on the matter," the statement added.

In the same vein, SNB described the destruction of the media equipment of AIT Port-Harcourt by the Rivers State government as an embarrassing affront against the Nigerian judiciary and barbaric act that is least expected from a democratically elected government.

A statement issued by its Coordinating Chairman. Festus Kehinde, likened the action of Rivers State Government to a malicious political gang up by an opposing political party seeking for self-help to forcefully remove a sitting governor while its petition has not been determined by the legally constituted election petitions tribunal.

The statement read: "The action of the Rivers State Government as a party in the lawsuit on this matter pending before the court is synonymous to a malicious political gang up by an opposing political party seeking for self-help to forcefully remove a sitting governor while its petition has not been determined by the legally constituted election petitions tribunal.

"This unfortunate steps taken by the state government is a clear demonstration that the executive arm believes in jungle justice rather than the rules of law, which is

very nauseating at this stage of the nation's democracy.

"This action is totally unacceptable and should be condemned by all lovers of justice and equity. SNB is joining other well-meaning Nigerians and professional bodies to condemn this barbaric act. The Society of Nigerian Broadcasters calls on government and their agencies at all levels to refrain from actions that are capable of compromising the international image of Nigeria among the comity of nations.

"Despite the fact that broadcast media houses in Nigeria today are facing humongous infrastructure and bleeding from financial deficit orchestrated by accumulated economic misadventures of the nations political leaders, the media remains steadfast in ensuring the advancement of the nation's unity and democratic governance.

SNB further called on government at all levels that rather than aggravating the financial crisis inflicted on the media as a result of poor economic policies, government should partner the media to jointly navigate the best possible routes of revamping the nation's ailing economy and serious security challenges.

It added that Daar Communications the owners of AIT, deserves to be adequately compensated for this act of omission on the part of Rivers State government.

Naval Chief Declares Zero Tolerance for Oil Theft

Says personnel involved will face full wrath of law Army, NSCDC uncover 14 illegal refining sites in Niger Delta

Kingsley Nwezeh in Abuja The Chief of Naval Staff, Vice Admiral Ikechukwu Ogalla, yesterday, declared zero tolerance for oil theft.

He warned that any naval personnel involved in illegal act would face the full wrath of the law.

He said Nigerians expect their Navy to remain above reproach as a force they could admire and rely upon.

The declaration came as troops of the Nigerian Army in synergy with personnel of the Nigerian Security and Civil Defence Corps (NSCDC) uncovered 14 illegal refining sites in the Niger Delta region.

Ogalla, who spoke at the 2023 Nigerian Navy Retreat at the Naval Headquarters in Abuja, said he was determined to contain oil theft which he said was, "a serious crime that is costing the nation billions of dollars

each year."

He took a swipe at mischief makers, whom he said created the false impression and media frenzy that blamed the Navy for oil theft.

The naval chief affirmed his eagerness to tackle oil theft as one of the strategic initiatives of the Nigerian Navy.

"One of the conceptual initiatives I am eager to listen to is the Strategic Plan to tackle Crude Oil Theft (COT) which is a serious crime that is costing the nation billions of dollars each year. It is also a threat to our national security.

"Recently, there has been a lot of media frenzy on the issue of COT. Unfortunately, some of these are intentionally propagated to embarrass the Nigerian Navy and misinform unsuspecting members of the public.

“We cannot afford to be complacent

or make the NN vulnerable for exploitation by mischief makers", he said.

"I therefore want to make this clear that under my watch there is zero tolerance for crude oil theft in the Nigeria Navy. Any officer or rating that is found to be involved in COT will be punished to the full extent of the law. I expect you to go back and educate your officers and men about the dangers of COT. "The government looks up to us to lead the fight to eradicate COT. Accordingly, we must work together with sister services and other related agencies to stamp out the menace.

“Nigerians expect their Navy to remain above reproach, as a force they can admire and rely upon. Gentlemen, it behooves us to take fierce pride in this obligation," he said.

The naval chief charged com-

manders to uphold discipline in their commands.

"Discipline is essential for any successful organisation, but it is especially important to the military.

As commanders, I am counting on you to uphold discipline in your commands. “Be role models to your officers and men. Set a high standard of conduct and enforce the rules fairly and consistently.

"Always do the right thing especially when it is hard. Related to this is the need to enhance civil-military cooperation and relations with civilians in your areas of operation," he said.

Meanwhile, the Nigerian Army in synergy with personnel of the Nigerian Security and Civil Defence Corps (NSCDC) uncovered 14 illegal refining sites in the Niger Delta region as part of a crackdown on saboteurs of Nigeria's oil sector.

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LAWYERS FOR REFORM GROUP...

L-R: Executive Project Director, Lawyers for Reform Group (LRG), Oladotun Hassan ; Public Interest Activist, Ajibode Abdulkabir and Member LRG, Enyi Reuben, during a press conference by LRG to call on the PHOTO: ENOCK REUBEN Inspector General of Police for implementation of police reform to address the state of insecurity in Lagos State arising from Land grabbing in Abuja... yesterday

HURIWA: Buhari's Govt Totally Destroyed Nigeria Slams Shehu, says ex-president should be in jail Chuks Okocha in Abuja The Human Rights Writers Association of Nigeria (HURIWA), has issued a scathing response to a former presidential spokesperson, Garba Shehu's recent defense of the Muhammadu Buhari administration, saying the former president totally destroyed Nigeria and should be in jail were the country civilised.

In a strongly worded critique, the organisation challenged the attempt to present Buhari's tenure as a successful battle against corruption and economic collapse.

HURIWA argued that the reality of Buhari's rule was far removed from the positive image painted

by Shehu.

It said the immediate past administration destroyed Nigeria from every angle and committed horrendous crimes against humanity that rather than speak and insult the sensibility of Nigerians, Garba Shehu and his ilk speaking for Buhari should cover their faces in shame for playing a role in the epic economic, security and social demolition of Nigeria by the Muhammadu Buhari’s misadventures in Politics.

HURIWA, in a press statement by its National Coordinator, Comrade Emmanuel Onwubiko, yesterday, cited numerous instances of corruption and mismanagement

that unfolded during President Buhari's time in office.

Foremost among the issues was the controversial fuel subsidy regime, which, according to HURIWA, continuously drained the national treasury due to discrepancies in reported fuel consumption figures.

The organisation also pointed to the alarming scale of crude oil theft, which prevented Nigeria from meeting its OPEC production quotas, severely impacting the nation's revenue.

HURIWA expressed astonishment that during Buhari's tenure, no public entity, including the president, as the substantive minister of Petroleum Resources, the Minister of Finance, Budget, and National Planning, or the National Assembly, with oversight powers over public expenditure, could accurately state the quantity of fuel consumed daily in Nigeria.

“This lack of clarity led to substantial discrepancies in subsidy payments, indicating massive corruption condoned by Buhari's government over eight years, despite recurring demands for accountability,” he said.

Furthermore, HURIWA criticised Buhari government's response to humanitarian crises, particularly in conflict-affected regions.

It cited corruption allegations in various poverty alleviation

programs, including the N-Power scandal, Conditional Cash Transfer, Government Enterprise and Empowerment Programme, and the National Home Grown School

The Nigerians in Diaspora Commission (NIDCOM) has emphasised the importance of recognising the accomplishments and challenges faced by Nigerians living abroad, as they play significant roles in shaping the nation's image globally.

This, it stated would encourage them to invest back home through positive narratives of their homeland.

The Chairman/CEO, NIDCOM, Hon. Abike Dabiri-Erewa, stated this through the Secretary to the Commission, Dr. Sule Yakubu Bassi, when he received in Abuja, Mr. Olumide Ogunlade, the Editor-inChief and CEO of Acclaim Nigeria, an international magazine.

The Secretary reiterated that the Commission was committed to enhancing the global recognition

and development of the Nigerian Diaspora community, saying that a partnership with Acclaim Nigeria would amplify the Commission's efforts in promoting President Bola Ahmed Tinubu’s 4D agenda of: Development, Democracy, Demography and Diaspora within the Diaspora community and beyond.

Bassi, said the potential collaboration between Acclaim Nigeria and NIDCOM could bring to the fore the remarkable stories of Nigerians who had excelled in various fields worldwide, such as science, technology, medicine, business, and culture. The strategic alliance was poised to strengthen Nigeria's global image and create a more inclusive and united Nigerian community.

He added that partnership would go beyond merely recognising the achievements of Nigerians in the

further eroding public trust in these programs.

The organisation contended that, despite campaigning on an anti-corruption platform, the

Buhari administration failed to effectively address these issues, with corruption allegations plaguing various sectors and undermining the government's credibility.

Respite as Shaibu Withdraws Purported Impeachment Suit against Obaseki Adibe Emenyonu in Benin City Edo State Deputy Governor, Mr. Philip Shaibu, has reportedly withdrawn the law suit he instituted at a Federal High Court against the purported impeachment against him.

The letter withdrawing the suit, is believed, may at last doused the rift between him and his principal, Governor Godwin Obaseki and others named in the suit.

The statement reads: “Re: SUIT NO. FHC/ABJ/CS/1027/2023 Between: - Rt. Hon. Comrade Philip Shaibu and Inspector General of Police, State Security Service, The Governor of Edo State and The Chief Judge of Edo State.”

A statement personally signed by him, said his decision was to respect the intervention of several individuals, including religious, prominent Edo citizens and the

NIDCOM Urges Media Practitioners to Promote Diaspora Investment Michael Olugbode in Abuja

Feeding Programme.

HURIWA also mentioned the alleged misappropriation of funds intended for feeding school children during the COVID-19 lockdown,

Diaspora. It would also serve as a platform for engaging the Diaspora community in meaningful dialogue and initiatives aimed at contributing to the development of Nigeria.

Ogunlade, a veteran journalist, said collaborative opportunities between Acclaim Nigeria and NIDCOM would change the narratives and encourage homeland development.

The Editor in-Chief, expressed his magazine's sincere interest in partnering with NIDCOM to shed light on the incredible contributions of Nigerians living abroad.

"Acclaim Nigeria, known for its extensive reach and influential readership, aims to promote the extraordinary stories and achievements of Nigerians in the Diaspora, thus fostering a greater sense of pride and recognition among their fellow compatriots," he said.

traditional institution and also appreciated the governor for agreeing on the peace initiatives.

In the letter, Shaibu stated that, “Arising from the series of meetings held with me and also with Mr. Governor by well-meaning Edolites and indeed Nigerians including party Leaders, traditional rulers, and my Archbishop, His Grace Most Rev'd Dr. Augustine Akubeze, the

Archbishop of Benin Archdiocese on the issues that led to my going to Court on the above-named suit and with due respect to these eminent personalities and leaders whose persuasions and persons cannot ignore, I Rt. Hon. Comrade Philip Shaibu have authorised and instructed my Solicitors to withdraw the Suit forthwith.

“I wish to sincerely thank and

appreciate these well-meaning Nigerians, Party Leaders, Traditional Rulers, and my Archbishop, His Grace Most Rev. Dr. Augustine Akubeze for their kind words, advise and encouragement thus far in ensuring peace and unity in our dear State Edo. I also wish to place on record my special thanks to Mr. Governor, my boss and Senior brother for this path of peace."

Shettima Charges Council on Nutrition to Prioritise Innovation Inaugurates council headed by him Deji Elumoye in Abuja Vice President Kashim Shettima has charged the new National Council on Nutrition (NCN) to prioritise innovation and research in its quest to significantly transform the nation’s nutritional landscape.

Shettima, made the call yesterday, in his remarks at the inauguration of the new National Council on Nutrition at the State House, Abuja.

According to him, “I wish to appeal to all members to prioritise innovation and research in the field of nutrition. We must embrace technology, leverage digital solutions, and invest in research and development to discover sustainable and scalable solutions for our nutrition challenges.

“This aligns with our pursuit of the Sustainable Development Goals and Universal Health Coverage. By harnessing the power of innovation and making prudent investments, we can fundamentally transform the nutritional landscape in Nigeria, creating lasting and meaningful change.”

The vice president who is the Chairman of the Council, said though there were challenges to the actualisation of set targets and goals.

“We must collaborate to enhance

nutrition governance, ensure the widespread availability of nutritious food, champion optimal infant and young child nutrition, and bolster nutrition education and awareness campaigns.

“While funding is undeniably crucial, we must also prioritise streamlining processes, implementing practical strategies, and fostering genuine collaboration to overcome the hurdles before us.

“A healthy nation isn't just a happier one; it's also safer. This underscores the necessity of our gathering here today. This occasion is not only to emphasise that the quality of what we consume is just as important as the quantity but also to renew our commitment to understanding the connection between food and human security,” Shettima also stated.

On the composition of the NCN, the vice president said it was, “a testament to the priority accorded to nutrition of every Nigerian in line with President Bola Tinubu's agenda for food and nutrition security in Nigeria.”

He added, “the Council being inaugurated today stands ready to foster political determination and the utilisation of our resources to eradicate malnutrition. “This is our

realistic pathway towards attaining the objectives outlined in the National Policy on Food and Nutrition.

“I am, therefore, confident that the diverse assembly of stakeholders within this council will facilitate comprehensive multi-stakeholder engagement, encompassing various sectors such as health, agriculture, social protection, and more, as well as spanning across different levels of government.”

Shettima, acknowledged support of stakeholders in the private sector and the UN system, noting that “we are truly fortunate to have partners who offer their technical, subject matter, and financial expertise to support the government's efforts in addressing this pressing challenge.”

Earlier in his remarks, the Minister of Budget and National Planning, Senator Atiku Bagudu, said the inauguration of NCN would ensure further consolidation on the successes already recorded in the sector, especially the country’s alignment with the global direction to develop Food Systems Transformation Pathways.

According to him, the implementation of the priority actions in the Food Systems Transformation Pathways had commenced in all the 36 States and the FCT.

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NEWS

SWEARING-IN OF PERMANENT SECRETARIES...

L-R: Permanent Secretary, Ministry of Health, Stanley Osaruyi Ehiarimwian; Permanent Secretary, Office of the Head of Service – Corporate Change and Communications, Joy Iyen Akhigbe; Edo State Head of Service, Anthony Okungbowa Esq.; Edo State Governor, Mr. Godwin Obaseki; Secretary to the State Government, Osarodion Ogie Esq.; Permanent Secretary, Ministry of Mining & Energy, Omoruyi Ese Martina, and Permanent Secretary, Ministry of Business, Trade & Cooperatives, after the swearing-in of eight permanent secretaries at the Government House in Benin City.

EX-NNPP National Chairman, Ahmed Alkali, Resigns Says there seems to be no end to crisis plaguing party Our party is intact, declares NWC Juliet Akoje in Abuja Former National Chairman of of the New Nigeria People's Party (NNPP), Professor Rufa'i Ahmed Alkali, has announced the withdrawal of his membership from the party.

According to a statement personally signed, Alkali recalled that "on March 31st 2023, I offered my letter to step aside as National Chairman of the New Nigeria Peoples' Party (NNPP), my prayer and hope then was that this was an opportunity for the party to move ahead and move fast to consolidate on the indisputable gains made so far

during the last 2023 general election and prepare for the forthcoming elections that lie ahead.

"Unfortunately, in the last few weeks, the party has slipped deeper and deeper into avoidable crises and conflicts that have led to several cases of suspension and counter-suspension of key leaders of the party, acrimonious press war, accusations and counter-accusations, which regrettably has led to the factionalisation of the party.

"After the historic merger of the party in March 2022, together with other astute, highly dedicated, hardworking and loyal members of the party, we put in place a

robust political structure nationwide.

“The National Working Committee (NWC) forged cohesion among our members and created a formidable national platform that fielded candidates for all elective offices from the State Houses of Assembly to National Assembly, Governorship and the Presidency. I am proud to be part of that Dream Team.

"It is on record that within a period of less than one year and despite the limited time corridor from the merger to the general election, the party won elections in the governorship, national assembly and state houses of assembly seats.

“However, I voluntarily stepped aside as the National Chairman of the NNPP shortly after the general election this year to give room for new hands and fresh ideas in order to advance the party forward.

“As far I was concerned, I never believed in the culture of sit tight in leadership positions nor that I was indispensable. The New Nigeria we all aspire to achieve must be built on the solid foundation of dedication, hardwork, resilience and personal sacrifice.

"The recent disturbing developments in the NNPP with the emergence of factions working against each other is really un-

PANDEF Hails Tinubu over NDDC Board, Says It's Departure from Reckless Past Sunday Aborisade in Abuja The Pan Niger Delta Forum (PANDEF), has commended President Bola Tinubu for fostering unity, peace, and development in the oil rich region of the country, through his timely nomination of members for the board and management of the Niger Delta Development Commission (NDDC), saying it was a departure from the reckless past.

In a statement by the National Publicity Secretary of PANDEF, Dr.

Ken Robinson, the Forum said it was on record that the new nominations largely satisfied its expectations and that of a vast majority of the people of the Niger Delta Region, noting that the president's action complied with the law, and fundamental principles behind the establishment of the commission.

Part of the statement read: "PANDEF recalls an interactive visit by presidents of ethnic nationalities, key critical stakeholders, and leaders of professional bodies of the Niger Delta

Jobe Floors Ganduje's Son at Kano Elections Tribunal

Ahmad Sorondinki in Kano

The Kano National/State House of Assembly Election Petitions Tribunal, has upheld the victory of the member representing Rimin Gado/Dawakin Tofa/Tofa Federal Constituency, Kano, Alhaji Tijjani Abubakar Jobe, who floored the son of the National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje.

Jobe contested and won his election under the platform of the New Nigeria People's Party (NNPP) against Abba Ganduje, who challenged Jobe's victory at the tribunal after the 2023 National Assembly election.

The Tribunal, yesterday, dismissed Abba's petition due to lack of sufficient evidence to support the allegation during the conduct of the election.

Delivering the judgement, the three-man panel led by Justice I.P Chima, dismissed the petition for lacking merit.

"The petitioner failed to present sufficient evidence to support the petition and the election of Jobe is hereby affirmed, " Chima said.

The Tribunal ordered Abba to pay Jobe and other respondents the sum of N200,000 each as costs.

Earlier, Counsel to the Petitioner, Mr Abdulgafar Murtala, urged the court to declare Umar winner and set aside the INEC declaration that announced Jobe as the winner of the February 25, election.

Counsel to the petitioner alleged that the Rimin Gado, Dawakin Tofa, and Tofa Constituency election was marred by over-voting and non-compliance with the 2022 Electoral Act.

region, to the Managing Director of the NDDC, Dr. Samuel Ogbuku, at the Commission’s headquarters in Port Harcourt, on July 5, this year.

"The delegation was led by the PANDEF National Chairman, Senator Emmanuel Ibok Essien. It expressed its pleasure with, and thanked President Bola Ahmed Tinubu, for retaining the Managing Director and the Executive Directors of the Commission, after the dissolution of the boards of agencies and parastatals of the federal government.

"The delegation, at that time, called on President Bola Tinubu to speedily reconstitute and inaugurate the full Board of the NDDC for the proper functioning of the Commission.

"It is, therefore, for the Forum, quite gratifying that Mr. President

has, within his first one hundred days in office, reconstituted the Board and Management of the Niger Delta Development Commission, NDDC. "PANDEF notes that this singular action of the President provides a glimmer of hope that, perhaps, President Bola Tinubu's administration would depart from the gross nonchalance of the immediate past administration, and devote the muchneeded attention and seriousness to issues of the Niger Delta Region.

"PANDEF further notes that the President also acted promptly, in a similar manner, by assigning a Minister to the Ministry of Niger Delta, after the denunciations, from the region, which greeted the initial non-assignment of a Minister to the all-important Cabinet.”

fortunate and counter-productive.

Sadly, there appears to be no end in sight in this needless war of attrition.

“It seems that there's an unwritten code by the warring factions not to allow elders of the party to mediate to finding a lasting solution to the crises. This is indeed regrettable and unhealthy for the growth and survival of any political party, especially an emerging political party such as the New Nigeria Peoples Party (NNPP).

"My decision is in accordance with the NNPP Constitution, and having consulted widely, I hereby announce the withdrawal of my membership of the NNPP forthwith, and I pray and wish the party the best in her future endeavours.

I wish to call on all my friends, associates and supporters to remain calm and resolute while awaiting communications on future developments and our next direction."

Meanwhile, the National Working Committee (NWC) of the party has reiterated that the party was intact, dismissing reports that it had been factionalised, just as it said those who had been suspended from the party did not have the constitutional powers to expel the party’s candidate for the February 25th Presidential candidate, Senator Rabiu Kwankwaso.

Briefing the press yesterday in Abuja, the acting National chairman of NNPP, Mallam Abba Kawu Ali, who described those saying they had suspended Kwankwaso as empty barons, said the story was unfortunate and rubbish.

“We wish to reiterate that our NWC is intact, except the former National Publicity Secretary

alongside with his cohorts, who have been expelled by a properly constituted National Executive Committee (NEC).

“All our State Chairmen (37) and other MEMBERS of the NEC. The NNPP, since the dissolution of the Board of Trustees (BOT) in 2022 publicly in the presence of INEC and the Media, has not constituted a new Board. The BOT is not what one person can sit in one corner to constitute.”

In a speech read by the National Auditor and Chairman, Disciplinary Committee of the party, Oladipo Johnson, on behalf of the acting national chairman, the party said it would not waste its time, answering the question relating to the expulsion of the former Kano State governor.

The speech read in part: “We wish to reiterate that our NWC is intact, except the former National Publicity Secretary alongside with his cohorts, who have been expelled by a properly constituted National Executive Committee (NEC).

“All our State Chairmen (37) and other MEMBERS of the NEC. The NNPP, since the dissolution of the Board of Trustees (BOT) in 2022 publicly in the presence of INEC and the Media, has not constituted a new Board. The BOT is not what one person can sit in one corner to constitute.

“Finally, yes, we are aware that they are asking spurious questions about the Party. The question is, ‘in what capacity’? As non-members, at least for now, they lack the locus to ask any question about the party. Once you are suspended or expelled, you forfeit all your rights and privileges."

PDP Postpones Imo Guber Campaign Flag-off Kogi chapter names Melaye’s management team Chuks Okocha in Abuja The Peoples Democratic Party (PDP), has announced the postponement of itsformal campaign flag-off for the November 11, 2023 governorship election in Imo State, earlier scheduled for Thursday, September 7, 2023.

Also, the Kogi State chapter of the party has announced the management team of its state campaign council.

According to a statement by the National Publicity Secretary of the party, Debo Ologinagba, said the postponement was in view of

a national development that requires the full involvement of the party including critical stakeholders from Imo State.

While regretting the inconveniences the postponement might cause, the PDP urged all leaders, critical stakeholders and members of the PDP, especially in Imo State to remain steadfast in the collective efforts of Imo people to rescue and make their state safe again with Senator Samuel Anyanwu, the PDP candidate on the saddle.

Noting that a new date for the formal campaign flag-off would be

communicated by the party leadership in due course, the PDP saluted the Imo people for their unrelenting patriotism, courage, commitment and dedication in support of our candidate and Party ahead of victory on November 11, 2023.

Meanwhile, the party has announced names of the party's management committee for the PDP in Kogi State.

According to a statement by the chairman of the party in the state, Senator Philip Aduda, the council, which is chaired by a former governor of the state, Alhaji Ibrahim

Idris, also has Inuwa Iyodo as the Director-General.

The other positions and the respective holders are Hon Abdulrahman Badamasuiy, Deputy Director General (Communications); Hon Umar Ahmed Imam, Deputy Director General (Administration and Finance); Dr Gideon Ojata, Deputy Director General (Strategy); Hon Musa Ahmadu, Special Adviser (Administration and Finance); Chief John Odawn, Special Adviser ( Contact and Mobilisation); and Hon Moses Ado Okino, Special Adviser (Strategy).

WEDNESDAY SEPTEMBER 6, 2023 ˾ T H I S D AY

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NEWS

IMPROVED LEGAL SYSTEM ON THEIR MINDS…

Chairman/Chief Executive Officer, Air Peace Airlines, Barrister Allen Onyema, (left) , and Chairman, Nigerian Bar Association (NBA), Benin Branch, Barrister Nosa Francis Edo-Osagie, during the opening session of the NBA annual general conference in Abuja…recently

‘Coup-d’etat Won’t Stop in Africa, If Leaders Shun Justice, Remain Selfish’ SundayAborisadeinAbuja The President, Chief Executive Officer of the GOTNI Leadership Centre, Linus Okorie, has said coup-d’etat would stop in Africa when leaders embrace selfless service to humanity.

He stated this yesterday in Abuja when the project director of the African 100 Most Notable Peace Icons, Ambassador Kingsley Amafibe, gave him an award as one of the notable peace icons in Africa

Okorie said: “We need leaders with a sense of justice, who are selfless and speak the truth at all times.

“If Africa continues to grow such type of leadership, there will be stability in the continent.

“We only have crisis in system where there is deficit in leadership capital where people feel there should be no sense of transparency and are just serving themselves and think about themselves only, getting people dissatisfied in the process.

“The people want the best of

education, good life and any leader who can sacrifice personal needs and focuses on the common good would always get accoladwes at every point in time.”

Okorie said the responsibility of the GOTNI Leadership Centre is to continue to invest in the leadership capital of citizens whether in their business or political spaces.

He said the most important thing is that the centre continue to groom them so that they can be the best they can ever be.

He said: “A leader could be

a good man but lack leadership capital.What we are doing is to ensure that we balance all the critical needs leaders require to grow the system.

Bayelsa, Imo, Kogi Guber: INEC Approves Resumption of Collection of PVCs Adedayo Akinwale in Abuja

Ahead of the November 11 governorship elections in Bayelsa, Kogi and Imo states, the Independent National Electoral Commission (INEC) has approved the resumption of collection of Permanent Voters’ Cards (PVCs) for registered

voters who could not collect their PVCs before the suspension of the exercise on 5th February 2023.

INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun, in a statement issued yesterday said the current exercise only covers the three states where governorship

elections will hold on Saturday 11th of November 2023.

He said: “In continuation of our preparations for the forthcoming off-cycle Governorship elections in Bayelsa, lmo and Kogi States, the commission has approved the resumption of collection of PVCs for registered voters who could not collect their PVCs before

the suspension of the exercise on 5th February 2023 ahead of the last General Election.”

The national commissioner said the PVCs would be available for collection at all the local government area offices in the three States –eight in Bayelsa, 27 in Imo and 21 in Kogi.

Umuwneochi LGA’s of Abia State, Hon. Obinna Aguocha.

He recalled that the Ad hoc committee held several consultations and two public hearings —the last of which took place on the 24tn of August, 2023.

Aguocha in a statement issued yesterday said the interventions of the House and the security architecture

have proved to be working so far.

He also said that kidnapping activities are dramatically on the decline, and farming and economic activities are on the rise.

The lawmaker said the efforts so far are clearly work in progress, adding that to achieve lasting peace, plans are at an advanced stage to engage the governors of the South-

east, traditional, and faith-based leaders, as well as critical stakeholders representatives.

Aguocha noted: “It has become necessary to once again brief you on the security situation in the Southeast, particularly in the Isuikwuato and Umunneochi local government areas of Abia State, and to update you on progress made so far.

DSS Arrests Nasarawa SEMA Officials for Palliatives Diversion Kidnapping Activities on Decline in South-east, Says House Member The Department of State ongoing in other states, the Services (DSS) said it has arrested some officials of the Nasarawa State Emergency Management Agency (NASEMA) and their accomplices for alleged palliatives diversion.

The Public Relations Officer of DSS, Dr. Peter Afunanya said this in a statement yesterday in Abuja.

Afunanya said that the service had received complaints from some states relating to diversion and sale of palliatives meant for their citizens “Consequently, the Service undertook investigations in that regard and has recovered some of the items as well as apprehended the suspects.

“While this operation is

Service has for instance, intercepted a suspected criminal syndicate in Nasarawa State responsible for the diversion and sale of the palliatives.

“Among those suspects are officials of Nasarawa State Emergency Management Agency (NASEMA) and their accomplices in the markets, notably Modern Market Lafia, where the items were being resold,” he said.

The DSS spokesman said the suspects had been handed over for appropriate disciplinary measures.

He urged members of the public with information relating to palliatives diversion to report to relevant security agencies for necessary action.

AdedayoAkinwaleinAbuja

The Chairman of the House of Representatives Ad Hoc Committee interfacing with the relevant security agencies, Hon. Obinna Aguocha, has said that kidnapping activities are dramatically on the decline, and farming and economic activities are on the rise in Isuikwuato and

2024 Poll: I’m in a Hurry to Bundle out APC in Ondo, Says PDP Chieftain (APC) in the forthcoming 2024 intention to contest the in the poll campaign organisation, expressed Fidelis DavidinAkure A chieftain of the Peoples Democratic Party (PDP) in Ondo State, Mr. Adeolu Akinwumi, has declared that he is so much in a hurry to take over power from the ruling All Progressives Congress

governorship election in the state.

Akinwumi, who was a former House of Representatives’ aspirant and Special Assistant to former Governor of Ondo State, Dr. Olusegun Mimiko, stated this in Akure when he declared his

on Monday.

He noted that he has the requisite experience to govern the state even as the rotation principle favoured his southern senatorial district.

Akinwumi, who was also a member of the Atiku/Okowa

his willingness to fight for the survival of the less privileged in the society.

He declared that the APC is a gathering of confused individuals that lack focus, direction and riddled with incomplete ideologies.

NSCDC Employs Seven Family Members of Personnel killed by Bandits in Kaduna The Nigeria Security and

NSCDC Kaduna Command

Adah said the gesture was in

letters to families of the seven personnel killed by bandits in Kaduna State.

The News Agency of Nigeria (NAN) reported that on January 23, 2023, seven personnel of

duty in Birnin Gwari Local Government Area of the state.

The employment letters were presented to the families by the NSCDC Commandant in Kaduna State, Mr Idris Adah.

Ahmed Audi to the families of the deceased.

“Today it’s with joy that I present to you the CGs good deeds by handling over the appointment letters to the next

of kins of the late officers.

Defence Corps(NSCDC), were ambushed and killed fulfillment of the promise made “This is in fulfillment of the Again, Four Persons Kidnapped in Ekiti Civil yesterday presented employment by bandits while on official by the Commandant General, CG’s promise to the family; this Gbenga Sodeinde in Ado Ekiti

Six days after gunmen struck at Itapaji Ekiti in Ikole Local Government Area of Ekiti State, another four persons were last Monday evening abducted in the community and taken to an unknown destination by the abductors.

The development was said to have sparked anger among the residents, with youths threatening to embark on protests if the situation is not brought under control.

Suspected gunmen had last week Wednesday attacked the community and killed one person, with two people abducted and held hostage for five days before they were released on September 3.

A source in the community revealed to THISDAY yesterday that the latest four victims were

kidnapped around 3:30 p.m. while returning from the farm.

He said they had earlier worked in a farm belonging to a popular cleric in the state before being waylaid at gunpoint and whisked away “by these gun-wielding evil doers.”

According to him, “They were coming from the commercial farm owned by a popular pastor in the community around 3.30 p.m. when they were accosted on the way and forcefully taken away.

“As of now, none of the family members had been contacted. But the police and Amotekun Corps were aware of the issue.”

The source revealed that the residents of the community are now living in palpable fear, following recurrent attacks and kidnappings being witnessed in the area.

however cannot replace the lives of our loved ones,” he added.

Adah therefore, charged the beneficiaries to do their best and represent their families with honour and dignity.

PENGASSAN Threatens to Shut Down Services over Oando’s Purchase of Agip’s Assets Blessing Ibunge in Port Harcourt

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to withdraw its members from

all offices and field locations over the purchase of Eni Nigeria and Nigerian Agip Oil Company Limited (NAOC) by Oando Plc. The branch Chairman of PENGASSAN, Agip Group, Port Harcourt, Mr. Eyong Survival,

who issued the threat yesterday, frowned at Oando’s acquisition of 100 percent of the shares of NAOC Limited and Eni Nigeria outright sale of its 20 percent equity share in NAOC JV to Oando without interfacing or

pre-informing the union.

According to him, the union had met with the company’s management when the sale of NAOC JV assets to Oando filtered into the air, but the managing director denied any of such plans.

PDP,APC Trade Words over Benue Governor’s 100 Days in Office performance of the Hyacinth Alia-led incontrovertible fact that Alia has template of promises he made George Okoh InMakurdi

The People Democratic Party (PDP) and the ruling All Progressive Congress(APC) have traded words over the performance of the Benue State Governor in his first 100 days in office.

While the PDP said it saw the

government thus far as a fusion of emptiness and disappointment, APC said the governor’s performance has been credible.

According to the Benue state Publicity Secretary of the PDP, Bemgba Iortyom, in a press release to reporter in Makurdi, it is an

achieved the worst take-off in office of any governor of the state, both military and civilian, since its creation in 1976, with neither direction nor content to be found in anything he has done so far. He said PDP’s assessment of Governor Alia’s performance derives from the

during the campaigns and after he assumed office, chiefly amongst which were to return persons displaced from herdsmen genocide (IDPs) back to their ancestral lands as well as to clear arrears of salaries and pensions to workers and retirees, all within his first 100 days in office.

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NEWSXTRA

FAMILIARISATION TOUR…

Minister of Interior, Olubunmi Tunji-Ojo (right), and the Commandant General, Nigeria Security and Civil Defence Corps (NSCDC), Ahmed Abubakar Audi, during a familiarisation visit to the headquarters of the NSCDC in Abuja…recently

NSCDC Busts Adulterated Fertilizer Products Syndicate in Jos Michael OlugbodeinAbuja

Determined to thwart notorious moves by saboteurs who are hell-bent on sabotaging federal government policies and efforts in ensuring adequate provision of fertilizers to farmers in the country, the Nigeria Security and Civil Defence Corps (NSCDC) has apprehended five suspects, who are alleged to be members of a syndicate which specialises in the diversion of granular ammonium sulphate, the key raw material in the production of fertilizer.

A statement issued yesterday by the spokesman of the NSCDC, Afolabi Babawale, disclosed that the five suspects were arrested by the special intelligence squad of the commandant-general of the agency.

He noted that the diverted granular ammonium sulphate, used in the production of fertilizer, is a property of the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), but was diverted, bagged, and sold by the saboteurs to unsuspected buyers and farmers at the rate

of N25,900 per bag.

Babawale said: “On September 2, 2023, at about 1720hrs, the commandant-general’s special intelligence squad, acting on a

credible intelligence busted two separate locations, No 3, Dogon Dutse area, Jos North, and Kasuwa Kara area, Bukuru, all in Jos Plateau State, and succeeded in recovering

large quantities of diverted bags of granular ammonium sulphate (GAS). The product is meant to be used for the production of fertilizer and to be sold at a

subsidised rate to the farmers, in the federal government bid to sustain the national food security programme and encourage food production in the country.”

Makinde: We’ll Fix Roads, Recruit Primary School Teachers, Others in 2024 Kemi Olaitan in Ibadan

Oyo State governor, ‘Seyi Makinde, has said the state government would move to fix about 100 kilometres of internal roads in Ibadan, the state capital and that once it is able to succeed with that,

the effort would be replicated across the state.

He also expressed the readiness of his administration to begin the process for the employment of primary school teachers to fill the gap left by those posted to secondary schools and retirements.

This was as the governor called on residents of Olodo Area of Ibadan to be patient with the government, promising that the collapsed Olodo Bridge would be fixed, but that all the proper things needed would be done so as to have a lasting solution.

Governor Makinde gave these indications while responding to contributions from stakeholders at the Stakeholders’ Consultative Meeting on the 2024 Budget, held at the Gamaliel Onosode Hall, International Conference Centre, University of Ibadan.

State, to come back for a second term in office.

Speaking to journalists in Owerri, a former Deputy Governor of Imo State, Mr. Jude Agbaso, revealed that the call to support Uzodimma’s second term became imperative due to his achievements in all sectors of the economy of the state.

Agbaso, who served as a deputy governor to former Governor Rochas Okorocha, added that it was no longer ideal to truncate the recently agreed Imo Charter of Equity among the elders and stakeholders of the state, which had hitherto brought acrimony and bad blood among the politicians

in the three zones.

According to him, the charter of equity is certainly the best declaration at this time having eluded the state over the years to have been revisited, stamped and with the seal of government; it has come to stay after several years of trial without success.

Firm to Tackle Unemployment, Charter of Equity: ‘Imo Needs Uzodimma for Second Term for Stability’ Poverty with Solar Kiosk

Kasim Sumaina in Abuja

In an innovative initiative aimed at addressing the issue of rising unemployment in the country, a Nigerian firm has introduced a solar-powered kiosk that could help tackle poverty and unemployment in the country.

With the new venture named ‘Elite Solar Kiosk’, the firm hinted that it would provide valuable job opportunities and also embrace sustainability by harnessing solar energy.

The Group Managing Director of Elite Logistics and Development Services Limited, Mr. David Adesanya, told journalists yesterday that: “Elite Smart Kiosk is efficiently reliable, powered by solar,

Amby Uneze inOwerri

aesthetically designed with low maintenance costs, and supports direct employment and empowerment opportunities for young Nigerians.

“It will provide solutions to political office holders, NGOs, philanthropists, humanitarian organisations, federal, state, and local governments, as well as notable personalities across Nigeria and Africa, as it seeks means to revolutionise empowerment.”

According to him, “In the face of soaring unemployment rates and the relentless challenges of an unforgiving economic landscape in West Africa, Nigeria finds itself grappling with the same socio-economic woes exacerbated by the recent removal of subsidies.”

For stability of governance and equity among all the three zones of Imo State, especially Owerri and Okigwe zones from 2027 moving forward, the state would need Senator Hope Uzodimma, the incumbent governor of Imo

Lagdo Dam: Include Buffer Dams in 2024 Budget, Edu Tells Legislators Kuni Tyessi in Abuja

To cushion the ravaging effects of flooding from Cameroonian Lagdo Dam, the Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, has called for the inclusion of buffer dams in the 2024

national budget.

Edu made the call when the Chairman, House Committee on Emergency and Disaster Preparedness, Rt. Hon. Joseph Bassey, visited her in her office as part of their oversight function to review Nigeria’s level of preparedness for the

impending opening of the Lagdo Dam and flood and emergency issues in the country.

She disclosed that the Federal Executive Council (FEC), has approved the flooding response documents and has urged the committee to be part of the team for field operations to

enable them to see things for themselves and proffer workable solutions.

“The construction of buffer dams in the country to curtail excessive flooding has become expedient. We must include this in the 2024 budget,” the minister said.

Osun PDP ApplaudsUniversities AdelekeCommission as University of Ilesa Secures NUC’s Approval ground-breaking feat, affirming letter to the vice-chancellor of the Yinka Kolawole in Osogbo (NUC) for the newly established

that the accelerated approval

University of Ilesa conveyed the

the University of Ilesa community and the entire Ijesa land for the

the citadel of learning.

NUC last Monday had in a

beginning from the 2023/2024 academic session.

affirms the genuine intentions approval of the commission for Osun State chapter of University of Ilesa.

VDT Awarded ISO Recertification The The PDP in a statement signed of the governor to the realisation 32 full-time programmes to be the Peoples Democratic Party has commended the state by its state Chairman, Hon of the lofty dream of the Ijesa run in the first instance on the

by British Standard Institute (PDP) Governor, Ademola Adeleke, for Sunday Bisi, also congratulated nation on the establishment of main campus of the university

AyodejiAke

Leading broadband communi-cation service provider in Nigeria, VDT Communications Limited, has been awarded an International Standards Organisations (ISO) recertification by the British Standard Institute.

In a statement of acknowledgment issued by the Chief Operating Officer, Mrs. Bimbo Ikumariegbe, the organisation restated its commitment to quality services.

She said: “We are thrilled to announce that VDT Communications Limited has achieved a remarkable feat of successful recertification for ISO 9001:2015 and ISO 20000-1:2018 by the prestigious British Standard Institute (BSI). What’s even more remarkable is that we achieved this without any record of nonconformity.

“This accomplishment is a testament to our unyielding dedication to excellence and commitment to maintaining the highest industry standards.

“The rigorous assessment process

by BSI affirms our organisation’s steadfast focus on quality, customer satisfaction, and efficient service delivery.

“We owe this achievement to our exceptional team, whose hard work and expertise have been instrumental in this success. We send a special shout-out to our valued clients and partners for their trust and support.

You inspire us to excel!

“As we stand in the forefront of innovation and progress, we remain committed to upholding these standards, driving continuous improvement, and delivering exceptional value to our clients and stakeholders.

the ‘spirited’ effort to accelerate the approval of the National

Asabi Assumes Duty as Ondo CP, Promises Optimal Performance FidelisDavidinAkure

A new Commissioner of Police, Abiodun Oladimeji Asabi, has been deployed in Ondo State by the Inspector General of Police (IG), Mr. Kayode Egbetokun.

Asabi replaces Taiwo Jesubiyi,

who retired from the police force on August 24.

Speaking with journalists when he assumed duty yesterday, the new CP expressed his determination to synergise, strategise and revitalise the existing security architecture in the state for optimal performance.

According to Asabi, the new post offered a golden opportunity to provide professional services in ensuring peace and security, as the 43rd commissioner of police in the state. The CP, who said the officers and men of the state Police Command would rededicate themselves to service

delivery, and remain focused on ensuring that crimes were mitigated to the barest minimum, stressed that the state would continue to witness further improvement in the policing system, in crime prevention, swift response to incidents, and the overall safety of Ondo State.

Mohammed Laments Failed Education System in Bauchi Segun Awofadeji in Bauchi The Bauchi State Governor, Senator Bala Mohammed has lambasted the management of the State Universal Basic Education Board (SUBEB) as well as the Local Government

Education Authority (LGEA) secretaries for sabotaging his efforts at developing the educational sector of the state.

Mohammed was visibly angry when he spoke at the opening of a meeting with stakeholders in the education

sector, including the SUBEB’s management, Ministry of Education, LGEA’s secretaries and local government areas’ caretaker chairmen that was held at the Banquet Hall of the Government House, Bauchi, yesterday.

The governor bemoaned the high number of out-of-school children in Bauchi State and the decline in standard of education, and accepted that his administration has failed the people of the state in terms of educational development.

WEDNESDAY, ;˜ ͺ͸ͺͻ ˾ T H I S D AY

46

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Outrage in São Tomé as Coach Drops Home-based Players for Nigeria Clash Coach Peseiro, Boniface, Orban amongst early arrivals as Uyo camp opens

Femi Solaja with agency report Local clubs in São Tomé & Príncipe are protesting the exclusion of their players as the national team coach, Adriano Eusebio, presented for the first time ever, an all-foreign-based players in a competition.

São Tomé & Príncipe will face the Super Eagles on Sunday in Uyo, attempting to save face after

....AFCON 2023 Faces Broadcast Blackout The cancellation of the beIN Sports deal means that the Confederation of African (CAF), currently has no major international broadcasters four months before January’s Africa Cup of Nations, whose final qualifying round takes place over the next 10 days.

In addition, both CAF’s continental club competitions – the Champions League and Confederation Cup – are scheduled to start in November, although the newly created African Football League kicks off before then.

This tournament, set to feature eight teams, will take place in October in Rwanda but despite its name and location, the competition is largely being run by football’s world governing body FIFA, and not CAF. “This competition is a great and effective way of taking African football to the next level, and that is something I am personally delighted to see,” FIFA President Gianni Infantino said last week.

The beIN cancellation means there is no major broadcaster for this tournament, with widespread reports in May – which came shortly after CAF signed a five-year memorandum of understanding with the Saudi Arabia Football Federation – suggesting the latter would put up $200m per season having never materialised.

As a result, a competition which CAF President Patrice Motsepe said last year would feature 24 teams, and $100m in total prize money, has been stripped down to just eight (with Petro Atletico’s presence uncertain after the Angolan federation recently banned the side for two years for fixing matches).

A F C O N 2 0 2 3 Q UA L I F I E R a string of four loses and a draw in preceding five qualifying matches of the 2023 Africa Cup of Nations.

Owing to the fact that all 22 players listed for the Nigerian challenge are based outside the country, local clubs reacted with astonishment, remembering that this is the first time in the history of São Tomé football, no player who plays in domestic championships is on the guest list.

Adriano Eusébio told local outlet,

won 10-0, the biggest win that the national team has recorded in 74 years since first constituted in 1949.

Meanwhile, Head Coach of Nigeria’s Super Eagles, Jose Peseiro, arrived in Uyo yesterday ahead of the dead-rubber AFCON 2023 clash Sao Tome and Principe.

The Portuguese gaffer had amongst early birds in camp to include, Victor Boniface and Gift Orban while the bulk of Europebased players are expected to stream into the Akwa Ibom State capital from today.

Adriano Eusébio’s São Tomé & Príncipe players: GOALKEEPERS: Ronaldo Silva, Pedro Mateus, Feher Mendes DEFENDERS: Adjakson Ramos, Rogério Fernandes, Elias Varela, Adjeil Neves, Lúcio Oliveira, Leonildo Soares, Auleocarcio Sacramento MIDFIELDERS: Ricardo Fernandes, Aldair Cruz, Denilson Silva, Marco Paulo, Ebanilson Viegas, Luís Selemane, Geoxking C. Alegre, Edmilson Viegas FORWARDS: Luís Leal, Ronaldo Afonso, Valter Rocha, Ricardo Cardoso

There is outrage in São Tomé and Principe following the dropping of all the home-based squad in favour of a Foreign-based team ahead of Sunday AFCON 2023 clash with Nigeria

Spanish FA Sacks Women’s World Cup Winning Coach Spain's Women's World Cup-winning Head Coach, Jorge Vilda, has been sacked amid the ongoing Luis Rubiales scandal.

Montse Tome has been named as his successor, becoming the first woman to hold the position.

Spain's win was overshadowed by the country's football federation President Rubiales kissing forward Jenni Hermoso, which she said was not consensual.

Most of Vilda's coaching staff resigned and 81 players refused to play for Spain in the aftermath.

Rubiales has refused to resign but

IBB Golf Club Goes Global on October 1 with 100 Foreign Players The prestigious IBB Golf Club in Abuja is set to put Nigeria and Africa on the global golf map as it hosts over 500 eager golfers including 100 foreigners in the October 1st Independence Golf Tourney, The highly anticipated 2023 edition which will be the country’s single biggest golf tournament will run from September 25 to October 1st. It will be a celebration of unity, talent, and excellence on the lush greens of one of Africa's best championship golf courses.

This year’s IBB Golf Club Independence edition will be exposed to a national and global audience expected to surpass over 100 million people.

For the first time in its storied history, the Independence Golf Tourney will see the participation of four countries, welcoming approximately 100 foreign players to the course.

The IBB Club Captain, Banjo Obaleye, stated that “the interna-

Téla Nón that the absence of the “nationals” (players who play in the main national competitions) was due to the fact that the call-up is a preview for the next qualifying games for the World Cup qualifiers.

For the 2026 World Cup qualifiers, São Tomé & Príncipe are in Group H along with Tunisia, Equatorial Guinea, Namibia, Malawi and Liberia.

“This call is already thinking about the World Cup qualifying games that start in November, we have to

take into account that, at this time, we will not have championships in the country and the players will be in vacation mode”.

Eusébio added that, with the growing wave of emigration, the team lost the base core that was made up of players who played in the main national championships, so, in the need to build a team of continuity and that provides guarantees, it turned 100% to the diaspora .

It should be noted that Sunday’s game is the second ever between the two countries. In the first match played last year in Morocco, Nigeria

tional camaraderie underscores the tournament's growing reputation and showcases the lush conditions of the course, made possible by state-of-the-art machinery never seen before in Nigeria’s golf history.”

Breaking away from the traditional approach, this year's event also promises to create an unforgettable tournament for players and unprecedented experiential experience for sponsors.

Though the IBB International Golf and Country Club itself cannot affiliate with international golf bodies, the pursuit of global recognition remains at the forefront.

The Chairman of the Independence Cup Organising Committee, and the Club’s Vice Captain, Ibrahim Babayo said that “the Club will continue to carefully forge strategic partnerships with overseas golf clubs, and work to propel the Independence Golf Tourney into the ranks of the world's top 20 tournaments.”

R U B I A L E S K I S S S CA N DA L has been provisionally suspended by FIFA football's world governing body.

In a statement, Spanish federation the RFEF did not give a specific reason for Vilda's dismissal, saying he had been "a promoter of the values of respect and sportsmanship in football".

However, the RFEF has been exploring whether it could sack 42-year-old Vilda - considered a close ally of Rubiales - since last week.

The RFEF called the move "one of the first renewal measures" announced by interim President Pedro Rocha, who has taken on the role while Rubiales is suspended by FIFA. Vilda was spotted applauding Rubiales at the RFEF's extraordinary general assembly earlier in August when Rubiales repeatedly insisted, he

would not resign and said he would offer Vilda a new deal - though he has since criticised his behaviour.

"The RFEF appreciates (Vilda's) work at the head of the national team and in his functions as the head of sports for the women's teams, as well as the successes achieved during his time crowned with the recent achievement of the World Cup," said the RFEF. "We value his impeccable personal and sporting conduct, being a key piece in the notable growth of women's football in Spain."

Tome, a former midfielder who won four caps for Spain, was part of Vilda's coaching team.

The 41-year-old will lead Spain into UEFA Women's Nations League qualifying later this month,

with fixtures against Sweden and Switzerland on 22 and 26 September.

The RFEF said: "She knows the locker room very well and also has extensive knowledge of the excellent national youth team."

Vilda, who had been in charge of the national team since 2015, survived a player 'revolt' in September 2022, when the RFEF released a statement revealing 15 players had submitted identical emails saying they would not play for Vilda unless "significant" concerns over their "emotional state" and "health" were addressed.

'Las 15' - as the players became known - denied claims they had asked for Vilda, who has always maintained the support of Rubiales, to be sacked, but tension followed amid reports of concerns over training methods and inadequate game preparation.

Of those 15, just three ended their

exile and were back in the squad as Spain beat England in the World Cup final in Sydney last month.

Vilda oversaw 108 matches as Spain coach, winning 75, and reached the European Championship quarter-finals in 2017 and 2022.

The World Cup winners are currently second in the FIFA women's world rankings.

The RFEF's statement added: "The RFEF would like to express its gratitude to Jorge Vilda for the services provided, for his professionalism and dedication during all these years, wishing him the best successes in the future.

"The RFEF is left with an extraordinary sporting legacy thanks to the implementation of a recognised game model and a methodology that has been an engine of growth for all the women's categories of the national team."

US Open: Coco Gauff Beats Ostapenko to Reach S’finals

Coco Gauff...qualifies for semi final of the US Open

American teenager Coco Gauff says she is feeling "emotionally fresh" as she reached the US Open semi-finals for the first time by beating Jelena Ostapenko on Tuesday evening.

Gauff, 19, won 6-0 6-2 in 67 minutes against Latvian 20th seed Ostapenko to record her best run at the tournament.

"I think the problem in the past in Grand Slams is that I would emotionally be drained," the sixth seed said.

"Now I'm physically fresh and emotionally fresh, and I think that just came from experience."

Gauff will play Czech 10th seed Karolina Muchova or Romania's Sorana Cirstea, seeded 30th, in the semi-finals on Thursday.

Another victory would put Gauff into the second major singles final of her career, matching her run at the 2022 French Open when she was beaten by Poland's Iga Swiatek.

There has been a different aura about Gauff following a successful North American hard-court swing where she won two of the WTA Tour's biggest titles in Washington and Cincinnati.

Since a chastening first-round exit at Wimbledon, Gauff has turned her form around with the help of new coach Pere Riba and consultant Brad Gilbert.

The teenager has won 16 of her 17 matches since losing at the All England Club in early July.

˜ ;˜ ͺ͸ͺͻ ˾ T H I S D AY

47

BACK PAGE CONTINUATION PRESIDENT TINUBU’S 100 DAYS OF STEADY PROGRESS AND NATIONAL REJUVENATION has worked to promote political stability in Nigeria because he understands that there cannot be any meaningful progress and development without peace.

The administration has stabilised the polity and reduced tensions associated with ethnic and religious agitations by better managing our diversity. President Tinubu believes Nigeria’s heterogeneity is a strength to harness for national development. To strengthen the bond of national unity and social harmony, President Tinubu ensured balance in all the appointments into key government positions including that of service chiefs from diverse parts of the country.

While promoting peace and political stability within the country by carrying along every segment of our country, the President also prioritises adequate information about government activities and policy direction.

President Tinubu emerged as the Chairman of the ECOWAS Authority of Heads of State and Government within his 100 days in office.

In this role, he has commendably raised the profile of Nigeria globally and within the West Africa sub-region, promoting the rule of law, defending constitutional order, and standing as a bulwark against military incursion into governance, especially in the Republic of Niger, where a democratic government was toppled recently.

It is not by accident that Nigeria continues to enjoy the respect of the rest of the world.

It is so because of the firm and principled stand of President Tinubu for the ideals of democracy, rule of law and good governance.

In continuation of his drive to rejuvenate and revitalise the national economy, President Tinubu embarked on a journey to India accompanied by a select delegation of cabinet ministers and over 30 entrepreneurs across various sectors of the economy for the G20 summit. This initiative showcases Nigeria’s readiness to collaborate meaningfully for sustainable economic development.

In the last 100 days, President Tinubu has offered purposeful leadership and set the administration’s tone, texture, and character.

The appointment of Ministers and allocation of portfolios bolstered the growing global

confidence in the direction the President is taking in Nigeria. This action has renewed the trust of both the local and international communities in the ability of President Tinubu to revamp and retool the political economy for collective and shared prosperity.

The spiralling confidence of the business

community is the primary reason Equities on the Nigerian Stock Exchange recently beat a 15-year record.

This period may be challenging, but the President has planted the seeds of national transformation, growth, and all-round development. Our appeal to Nigerians and the

labour unions is to continue to support the government and show more understanding. We must continue to work hard and confidently press forward to the glory of a greater Nigeria. r.BMMBN .PIBNNFE *ESJT JT UIF .JOJTUFS PG *OGPSNBUJPO /BUJPOBM 0SJFOUBUJPO

Mandela was inaugurated as the president of a multi-racial South Africa. Non-governmental organisations pursuing various democratic projects mushroomed in Africa with steady official and non-official funding from the West.

The mood in many parts of Africa was that of a festival of democracy.

Now, after 30 years of the experiment with liberal democracy the external and internal contexts have changed in the politics of African countries. For instance, the democratic enthusiasm is waning in the West itself what with the upsurge of right-wing populism and pure illiberalism in some western democracies.

Only yesterday, a former leader of the right-wing Proud Boys group, Enrique Tarrio, was sentenced to 22 years in prison for his ignoble role in the January 6, 2021 grand assault on the United States Capitol by supporters of former President Donald Trump. They were trying to overturn the 2020 election won by President Joe Biden. It would be unpredictable in 1991 when the Soviet Union collapsed that 30 years later some thugs would storm the American parliament to truncate an electoral process under the inspiration of an American president. Well, such is the new climate of liberal democracy.

America is the self-appointed global policeman of democracy. Now some American rightwing extremists are inflicting unimaginable assaults on democracy at home. The world policeman of democracy now has a lot of job to do at home. Indeed, the West has lost the moral basis to teach “the third world” anything about democracy.

In fact, the theoreticians of western democracies are already documenting these mega trends and their universal implications. For instance, the author of the 1992 book entitled “The End of History” has reversed himself with a tempered optimism about the triumph of liberal democracy. With the stupendous socio-economic success of China, putting liberal democracy as a condition for development is more debatable today that it was 30 years ago. Globalisation itself appears to have a reached a dead end in in spite of the neo-liberal pontifications around the globe. What is left

of globalisation when President Biden could order American tech companies not invest in China “for national security reasons”? Is that part of the logic of global capitalism?

Whatever happened to the free movement of capital across national boundaries that is the holy grail of globalisation? The ruinous effects of the excesses of neo-liberalism in the economy, polity and society of nations constitute a grave threat to democracy. An environment of poverty and injustice is not the most suitable for the growth of liberal democracy. Some western scholars have admitted the retreat of liberalism in recent years. This is one of the points emphasised in Fukuyama’s 2022 book entitled “Liberalism and its Discontents.”

So the point is that while democratic observers should worry about spread of coups in Africa the trend should be put within the context of the global assaults on liberal democracy and the huge democratic reversals. In early 1990s the triumph of liberal democracy from the view-point of the West provided the canopy for demilitarisation and democratisation in Africa. Is it not also possible that the attack on liberal democracy in its metropolitan centres could also be an external factor encouraging the surge of militarism in Africa?

To be sure, within the context of liberal democratic discussions, military coups cannot be rationalised, let alone justified at this stage of African political evolution.

Ultimately, the path to African development is popular democracy which should encompass socio-economic justice for the people. The efforts of AU and ECOWAS to find political solutions to the problems in the zone of coups should be encouraged.

These solutions should be better articulated.

The military option should be taken off the table because of the complexity of the African situation. Meanwhile, for a more strategic solution the wider context of the problems should be well understood. For instance, as Chihombori-Quao has advised the role of imperialism should be not be discounted offhand in pondering the cycle of democratisation and militarisation in Africa.

President Bola Tinubu

COUPS AND MEGA TRENDS OF DEMOCRACY had been in power for 24 years at the time.

While the conference proceedings went on, Eyadema was beleaguered in the presidential palace as delegates seemed to be determining the fate of Togo at last. But this turned out to be a pyrrhic victory for the democrats.

All the Sovereign National Conference (SNC) achieved was the setting up of a transitional government that organised a multi-party elections which Eyadema eventually won.

Eyadema remained president until his death in 2005. His son, Faure Gnassingbe, who succeed him, is still in power. Does this look like a parallel to the Gabonese story? By the way, Eyadema was in the group of soldiers who assassinated President Sylvanus Olympio in 1963 and installed another civilian, Nicolas Grunitzky, as President. Eyadema was made Chief of Army Staff. Eventually the military took over fully in 1967 and Eyadema became President.

Eyadema’s story was also similar to that of Mobutu Seseko in Zaire (now Democratic Republic of Congo). Mobutu seized power in 1965, removing President Joseph Kasavubu.

Earlier in 1961, as the minister of defence, Mobutu had supported the same Kasavubu in the power tussle between Prime Minster Lumumba and the president after the Congolese soldiers mutinied against Belgian officers. Prime Minister Patrice Lumumba was arrested and killed in Katanga. Aided by the West, Mobutu embarked on a process of “neutralising” politicians. Not a few of such politicians were killed in a resurgence of a right-wing dictatorship Mobutu remained in power until he was forced to relinquish power following the rebellion led by Laurent Kabila in May 1997. Mobutu died four month later. Such was Mobutu’s enormous hold on power despite the efforts at democratisation in the country. The name of the country was changed from Zaire (given to it by Mobutu) to Democratic Republic of Congo. But Mobutu remained in power for almost a decade after the Sovereign National Conference convened to steer the country on the democratic path.

The examples of Eyadema and Mobutu are to illustrate the point that the West selectively embraced dictatorship on the continent for

about 30 years after the independence was achieved by African nations in 1960s in the spirit of the Cold War. Mobutu was a welcome guest in the White House in the United States just as Eyadema was warmly received in Elys e Palace in France. Mobutu, for instance, was a veritable tool in the hands of the West to fulfil its geo-political mission in the neighbouring countries of Congo Democratic Republic.

The exogenous inspiration and background to the ferment of democratisation in Africa were already manifest early 1990s. Things began to change in the political macroenvironment with the Fall of the Berlin Wall marking the end of the Cold war in 1989.

The Soviet Union collapsed in late 1991.

Francis Fukuyama became the intellectual toast globally with his famous 1992 book, “The End of History and the Last Man,” putting liberal democracy magisterially as the apogee of political and ideological evolution for humanity. A nexus was drawn between liberal democracy and development. Capitalism and democracy were presented to Africa as two sides of the same coin. Africa could not have one without the order, according the victors of the Cold War. Globalisation (a euphemism for the unrestrained spread of global capitalism) became the orthodox economic doctrine. Logically, if the West led

by America was celebrating the “victory of liberal democracy” in Eastern Europe following the disappearance of the Warsaw Pact, it could have no reason not to frown at activities of its autocratic proteges in Africa.

This was a factor in the so-called spread of democracy in Africa. It was more than a coincidence that dismantling of apartheid in South Africa also took place at this period.

Up till, the late 1980s America insisted on “constructive engagement” with the apartheid regime while opposing economic sanctions against the racist government. The feeble argument was that sanctions would hurt the oppressed black people. As recent as 1988, the British Minister, Margaret Thatcher, still called the African National Congress (ANC) a “terrorist organisation.” Barely six years later apartheid was dismantled and Nelson

Wednesday, September 06, 2023

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MISSILE Obasanjo to Buhari “Buhari was spending money recklessly. I know Buhari didn’t understand economics. I put that in my book. But that he could also be so reckless, I didn’t know. Who would you go to today and ask for a favour?” -Former President Olusegun Obasanjo criticising the economic management of the administration of former President Muhammadu Buhari.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Coups and Mega Trends of Democracy

I

n a very engaging interview on ARISE NEWS last week, a former permanent representative of African Union to the United States, Dr. Arikana ChihomboriQuao, drew attention to the mega trends that should be studied in order to understand the epidemic of coups in Africa.

For clarity, she made this statement without prejudice to the immediate steps that the AU and ECOWAS should take in response to the military take-over of power in some African countries. The bigger picture of things in the African democratic landscape is really the focus of the Zimbabwean medical doctor and activist.

Conceptually, to study mega trends is to look at the patterns of events and locate major shifts while relating the whole movement to the macroenvironment. In the specific matters of recent coups in Africa, Chihombori-Quao pointed to a fact: “Interference from the Western world is the biggest challenge that all African countries are running into.”

For instance, in the case of the latest coup in Gabon, she called for restraint in drawing hasty conclusions: “We don’t know if France is

Dr. Arikana Chihombori-Quao

involved. We need to take time, the situation is too fresh and fluid, and premature for us to make a statement to say France is not involved.” With a compelling analysis of event, Chihombori-Quao put at the centre the factor of France, a neo-colonial power, in

apprehending the plague of coups afflicting Francophone Africa. She drew a pattern of the West always supporting the “opposition” regardless of the political dynamic in the respective African countries. Such a blind support for a so-called democratic opposition and an irresponsible intervention in Libya by the West has put that country in a political quagmire with terrible consequences for regional security. Before the neoliberals dismiss Chihombori’s position as another case of an African needlessly blaming the West for a problem for which Africans themselves are responsible, they should, at least, ponder the mega trends of what passes for democracy in Africa today in historical terms.

In recent years, military coups have succeeded in Burkina Faso (January 2020; Chad (April 2021); Mali (August 2021); Guinea (September 2021); Sudan (October 2021); Niger (July 2023) and in Gabon only last week. In one study, it has been shown that of the 242 coups which have succeeded in the world in over seven decades, Africa has had a share of 106. No fewer than 45 of the 54 African countries have also experienced

coups.

Chihombori’s position that what happens in Africa is largely inspired or influenced by the West has a lot of proof in history. Take a sample. A political symmetry could be drawn between coups happening in Francophone Africa today and the “wave of democratisation” sweeping the Francophone Africa in the early 1990s. It is akin to a 30- year cycle of autocracy and liberal democracy. Today, from the landlocked Burkina Faso in West Africa to the oil-rich Gabon in Central Africa, there have been stories of the military torpedoing civil rule. Correspondingly, about 30 years ago there were popular revolts against autocrats in power from Togo in West Africa and Zaire in Central Africa. That was when the convocation of Sovereign National Conference (“Conference Nationale Souveraine”) was the political fashion. For instance, the 1991 Togolese Sovereign National Conference was convened by opposition elements with a lot of support from abroad to put an end to the rule of President Gnassingbe Eyadema, who Continued on page 47

MOHAMMEDIDRIS GUEST COLUMNIST

President Tinubu’s 100 Days of Steady Progress and National Rejuvenation

E

xactly 100 days ago, President Bola Ahmed Tinubu assumed office following the popular mandate graciously bestowed by the good people of Nigeria, who elected him as the 16th leader of our country.

Since May 29, President Tinubu has been at his duty post, working assiduously to deliver on his campaign promises as enunciated in his Renewed Hope Agenda for a better and greater Nigeria.

The President began the journey to rebuild our battered economy, realising that our country was in a difficult situation with our public debts - both local and foreign - coupled with an unsustainable fuel subsidy regime that created, for several decades, a galling hole in our public finance, rendering the three tiers of governments insolvent and incapable of meeting the needs of the citizens.

President Tinubu took a bold and courageous decision to remove the fuel subsidy to avert a national economic catastrophe of epic proportions. Fuel subsidy was a Sword of Damocles that hung over Nigeria

President Bola Tinubu

for decades. It stunted growth and set the country a-borrowing.

In addition to subsidy removal, President

Tinubu took further steps to unify the multiple foreign exchange markets.

While these two vital steps to save the country from hitting the rocks brought momentary discomfort to Nigerians, President Tinubu has never failed in his appeal to Nigerians to see the current inconveniences as a price we must all pay to save our country from disappearing.

Considering the people’s pains, the government rolled out intervention programmes to help cushion the unintended negative impacts of the reforms. These interventions include working out a minimum wage and salary increase, supporting states and local governments to enable them to cater for the most vulnerable among us, providing fertilisers to farmers, grains to households, cash transfers to people with low incomes.

In addition to these, there are plans to roll out over 11,000 CNG buses for affordable public transportation among others.

While striving to reduce the impact of the high cost of living on the citizens, President Tinubu has focused on redirecting our economy

and removing the impediments to productivity and competitiveness so that the real sector can grow and create millions of decent jobs that are essential for long term economic growth.

In the last 100 days, the government set up a Tax and Fiscal Reforms Committee that is fully at work to deepen the ongoing reforms and reposition the national economy for long-term sustainability. A renowned Tax and Fiscal Policy expert is leading this committee. Part of the committee’s mandate, working with the state governments, is to simplify our complicated tax system, eliminate multiple taxes, streamline regulations that negate the ease of doing business, and close the over 20 trillion annual tax gap.

To ensure that Nigerians and businesses are not burdened with new taxes, the administration will promote efficiency in revenue collection. It will expand the tax net by ensuring that those not paying are made to pay while those not paying the correct amount are made to pay their fair share.

Within the last 100 days, President Tinubu Continued on page 47

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