WEDNESDAY 2ND OCTOBER 2024

Tinubu Leads Shettima, Others in Magnificent 64th Independence Anniversary Guards Parade Governors celebrate across Nigeria, Nigerians, CSOs react

Our Correspondents President Bola Tinubu, yesterday, led

other top government officials and foreign diplomats, including Vice President Kashim Shettima and

President of the Senate, Senator Godswill Akpabio, to mark Nigeria's 64th Independence Day celebration

at the Forecourt of the State House, Abuja.

This year's event, themed: “Reflect-

ing on the Past, Inspiring The Future” marked in a low-key, commenced with the arrival of the president, who was

the Guest of Honour, accompanied Continued on page 10

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T H I S D AY • WEDNESDAY, OCTOBER 02, 2024

NEWS

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

Sanwo-Olu observing Independence Day parade...

Governor of Lagos State, Mr. Babajide Sanwo-Olu observing the Independence Day parade in celebration of the 64th Independence Day at the Lagos House, Marina ... yesterday

Oando Emerges First Nigerian IOC, Valuation Hits $4 Billion

Emmanuel Addeh in Abuja

With its operations outside the shores of Nigeria, around the Sao Tome and Principe Exclusive Economic Zone (EEZ), Oando Plc has now attained the status of Nigeria’s first indigenous International Oil Company (IOC).

This, no doubt, attests to the enormous hard work put in by the forward-looking team at the company led by its Chief Executive Officer, Mr Wale Tinubu, who decades ago, seized the gauntlet and dived into the oil and gas business in Nigeria.

A leading African exploration and production company, with world-class operations, Oando prides itself as being at the cutting edge of Africa’s upstream sector, with significant investments in a robust portfolio of oil and gas fields, as well as participating interests in onshore and offshore producing assets.

Its asset base covers exploration, development, and production for both oil and gas and holds interests in over 16 licenses for the exploration, development, and production of oil and gas assets located onshore, swamp, and offshore.

It has a Certified Professional Reserves Report (CPR) from D&M, the second largest in the world, which has also been auditing ENI/NAOC, Chevron, Shell and other oil Majors for decades.

With the CPR indicating Gross Recoverable 2p reserves on original 20 per cent Certificate of Proficiency (CoP) stake and new NAOC 20 per cent stake Net Present Value (NPV), (10 per cent is $2 billion respectively), total value of the company has now hit $4 billion, that is, before deduction of acquisition debt of the newly acquired company plus legacy debt.

When appropriate discounts are applied, including working capital,

Actual Net Asset Value (NAV) of company, less all long term debt, equity value is about $3 billion.

Because of its United States dollar earnings and taking into account inflation differential between US, which is 3 per cent against Nigeria’s over 30 per cent, devaluation is calculated to be 27 per cent this year.

“Year-on-year, this is at least 15 per cent in the best of times. The Investment will be phenomenal in Naira terms,” a person with the knowledge of the operations of the company stated.

The Nigerian company with two power plants of 500MW, that is, Kwale 1 and 2, comprising three large gas plants, now has dedicated gas line to Eleme Petrochemicals emerging as main supplier there as well as the ownership of a dedicated gas pipeline to LNG. With over 200 wells in production, nine flow stations and its own export terminal, Brass, Oando has now emerged the first indigenous company to elevate to the status of a major IOC. Today, Oando is the largest supplier of gas to the Eleme Petrochemicals. The issue of insecurity hobbling its activities, aside, Oando’s peak production was 100,000 barrels a day last year and 1.5 billion scf in the case of gas.

For Oando, it’s not always about the money, but one of the key things comsidered is the impact that the company can have and about the legacy of being able to build a world-class company and opening the door for others.

In a nutshell, Oando has for years, delivered sustainable value to its stakeholders as it continually grows its reserves by harnessing the optimum potential from its existing range of oil and gas resources, while also acquiring near-term producing

C O M PA N Y I N F O C U S

assets from international oil companies.

Alongside seasoned professionals who join us from a wide range of multinational companies, the company has nurtured talented young individuals through a challenging accelerated training and exposure programme.

In 2023, Oando’s stock delivered an impressive 159 per cent year-to-date gain. This continued into 2024, as the share price increased by 14 per cent in Q1.

The release of the company’s 2023 financial results on May 31, 2024, revealed a significant turnaround with a pre-tax profit of N104.1 billion compared to a pre-tax loss of N61.8 billion in 2022.

This rally strengthened after the company announced that the federal government approved its 100 per cent acquisition of NAOC, pushing the share price to a five-year high of N47.85 and a year-to-date gain

The United Arab Emirates (UAE) flag carrier Emirates flight landed at the Murtala Muhammad International Airport (MMIA), Lagos, on Tuesday, about two years after it stopped operation to Nigeria over diplomatic impasse and non-repatriation on its revenues then.

The flight EK 783 which touched down at the old terminal of the MMIA at exactly 3:32 pm arrived with several empty seats on its Boeing 777-300ER. The inaugural flight was without water cannon to announce a new flight operation and without other fanfare because inside source told THISDAY the airline decided to

step down ceremonies because of the information that there was protest in Nigeria.

With the resumption of operations yesterday, the airline is expected to operate a daily service between Lagos and Dubai, offering customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai.

Last week the federal government and the United Arab Emirates agreed on reciprocal rights, as world mega carrier, Emirates Airlines was set to resume; indicating that Nigerian carrier, Air Peace, which hitherto operated the route can also resume flight operations to the Middle East country.

The Minister of Aviation and

contrasting with losses on our foreign currency-denominated liabilities.”

Now set to be a clear leader in Nigeria’s oil and gas industry, the acquisition of NAOC is seen as transformative decision and a gamechanger for Oando, with its capacity to potentially boost its production.

Wale Tinubu has also assured of the company’s focus on optimising these new assets, advancing production, and pursuing strategic diversification in areas such as clean energy and energy infrastructure. Clearly, this time, it seems there’s no stopping Oando.

Jimmy Carter Emerges First Ex-US President to Mark 100th Birthday Emmanuel Addeh in Abuja

Jimmy Carter, the 39th president of the United States yesterday turned 100 years old, emerging the first former commander-in-chief of the country to achieve the major feat.

He is expected to spend his special birthday in the same one-story home he's lived in since the early 1960s in Plains, Georgia, Los Angeles News said.

“Not everybody gets 100 years on this earth, and when somebody does, and when they use that time to do so much good for so many people, it's worth celebrating," Jason Carter, the former president's grandson and chair of The Carter Center governing board, said in an interview with The Associated Press Carter held the highest office in the country from 1977 to 1981. He

Jimmy Carter received the Nobel Peace Prize in 2002 for his work as a global humanitarian in mediating international conflicts and advancing human rights.

“Because we are free, we can never be indifferent to the fate of

Emirates Airlines Resumes Flights to Nigeria after Two-year Suspended Operation Chinedu Eze

of 371.5 per cent; ranking it as the second-best performing stock on the NGX at the time.

Recently commenting on the enviable results, Wale Tinubu, said: “Despite persistent pipeline vandalism across the Niger Delta, which continues to dampen crude production, we achieved a profit after tax of N74.7 billion in 2023. “ This was largely driven by increased trading volumes from our strategic global partnerships and net foreign exchange gains on the group’s foreign currency-denominated assets,

Aerospace Development, Festus Keyamo, with UAE aviation authorities, agreed on a new Bilateral Air Service Agreement (BASA) between the two countries.

“Crucially, the negotiations also yielded a significant agreement on reciprocal rights, ensuring that Nigerian airlines will soon have the opportunity to commence direct flight operations to the UAE. This marks a historic development for Nigeria’s aviation industry, expanding international connectivity and offering more options to travelers between the two nations,” the Minister had said.

The Middle East carrier had announced earlier that its service to

Nigeria would be operated using a Boeing 777-300ER. EK783 and would depart Dubai at 0945hrs, arriving in Lagos at 1520hrs; the return flight EK784 would leave Lagos at 1730hrs and arrives in Dubai at 0510hrs the next day.

As a major economic hub in Africa, Nigeria and the UAE have built strong bilateral trade relations over the years, headlined by Lagos as the nation’s commercial centre.

With the resumption of daily passenger flights, the airline’s cargo arm, Emirates SkyCargo, will further bolster the trade relationship by offering more than 300 tonnes of bellyhold cargo capacity, in and out of Lagos every week.

freedom elsewhere," Carter said in his inaugural address on Jan. 20, 1977.

"Our moral sense dictates a clear-cut preference for those societies which share with us an abiding respect for individual human rights,” he added.

The legacy of the 39th president in U.S. history has been written, rewritten and rewritten again.

By the end of his tenure, Carter had increased the U.S. workforce by creating eight million new jobs.

Unfortunately, the president's one term was marred by inflation and interest rates that hit near record highs in the late 1970s before eventually leading to a short recession.

Carter was an early environmentalist who pushed to expand the national park system to include protection of 103 million acres of Alaskan lands.

Additionally, he was a leader who carried a passion for better human and social services. As president, he created the Department of Education, bolstered the Social Security system, and appointed record numbers of women, Blacks and Latinos to Government jobs.

Critics would be quick to point to the Soviet invasion of Afghanistan as an area where Carter failed as president.

The invasion caused the suspension of plans for ratification of the SALT II pact, with the seizure as hostages of the United States embassy staff in Iran dominating the news during the last 14 months of Carter's administration.

Carter's defeat to Ronald Reagan in the 1980 election was viewed as a bit of an inevitability as Iran continued holding Americans captive, combined with continuing inflation at home.

Despite how historians might remember the conflict in Iran, Carter continued the difficult negotiations over the hostages.

Forty-three years is a lot of time, and Carter — the first president to go

by his nickname of "Jimmy" — took full advantage of his position both domestically and abroad.

In 1982, he founded the Carter Centre with the purpose of advancing human rights in more than 80 countries.

Working hand-in-hand with the World Health Organisation (WHO), the Carter Centre helped reduce the number of estimated global cases of Guinea worm disease from 3.5 million in 1986 to four through September 2004.

He was also instrumental in founding the New Baptist Covenant and served as an honorary chair on the World Justice Project.

Outside of his humanitarian activities, Carter's diplomatic efforts began in the Middle East in the early 1980s. He was eventually sent as far as east as North Korea and Taiwan in the 1990s.

The next decade saw Carter in Africa where he visited Darfur and Sudan before joining Nelson Mandela in South Africa to help unveil a group of independent global leaders called, The Elders. He also taught Sunday School for decades at Maranatha Baptist Church in Plains.

The former president has been in hospice care at his home in Plains, Georgia, since February 2023.

At age 90, Carter was diagnosed with metastatic melanoma — skin cancer that had spread to his liver and brain. He also suffered several falls, breaking his hip in May 2019 before fracturing his pelvis later that year. He had hip replacement surgery in his mid-90s.

He was also admitted for brain bleeding suffered after falls. Carter's declining health has taken him away from life-long hobbies like fly fishing and woodwork; however, according to his grandson, he still has plans to vote in this year's election.

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Brand strategist of the DECADE...

L-R: Managing Partner, Zenera Consulting, Meka Niyi Olowola, being congratulated on winning the Edge Awards' Brand Strategist of the Decade by General Manager, Marketing, Marketing Edge, Ogechi Odigbo; and CEO, Marketing Edge, John Ajayi, in Lagos... recently

PenCom Okays ARM, Access PFAs Merger At N2.22tn, new entity may hold industry's largest asset base

James Emejo in Abuja The National Pension Commission (PenCom), yesterday announced that it has granted approval for the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited to form a new entity named Access ARM Pensions Limited.

In a statement, PenCom stated that the merger was expected to result in the achievement of economies of scale, improved operational efficiency of the new entity as well as improved service delivery to Retirement Savings Account (RSA) holders.

The merger brings the total number of Pension Fund Administrators (PFAs) in the country to 18.

In what could emerge as one of biggest mergers/acquisition in the pension industry, THISDAY had reported earlier in January that

Access Golf Nigeria Limited was seeking to acquire 81.82 per cent of the issued share capital of ARM Pension Managers (PFA) Limited from its majority shareholder, ARM Traditional Asset Management Limited.

The Merger of ARM Pension and Access Pensions would create a pension fund administrator with assets under management (AUM) of just over N2.22 trillion, according to the Federal Competition and Consumer Protection Commission (FCCPC) which vets such union to ensure fair play.

The expected revenue and cost synergies are material and promise significant long-term value.

The enlarged Access Pensions would provide customers with an enhanced service offering, support the rollout of micro pension products and provide a better overall customer

experience.

With final regulatory nod, Access Pensions may emerge as the large PFA in the country by pension assets under management.

Currently, the largest PFA is Stanbic IBTC Pensions Limited, followed by ARM Pension Managers.

Access Golf is an investment vehicle that owns the majority shareholding in Access Pensions, which is a Pension Fund Administrator (PFA) incorporated in Nigeria and licensed and regulated by (PenCom).

Access Pensions principal activity is pension fund administration (PFA) involving management of retirement savings account and legacy funds.

Similarly, ARM Pension in addition to Access Pensions activities also offers other pension products and services including retirement advisory, programmed withdrawal; micro

pension, and additional voluntary contribution.

Following the acquisition, ARM Pension and Access Pensions which are the merging entities will merge and become one entity.

The merger was consummated through a Scheme of Merger.

Under the terms of the Scheme, ARM Pension will transfer all its assets, liabilities and undertakings to Access Pensions.

Meanwhile, official industry data had earlier indicated that Stanbic IBTC Pension Managers Limited, Access Pension Limited, ARM Pension Managers Limited, Trustfund Pensions Limited and Premium Pension Limited are PFAs that account for 56 per cent of pension enrolment.

Stanbic IBTC Pension led the pack with 2,015,150 retirement

IATA Prioritises Three Key Areas to Sustain, Improve Safety in Global Aviation Chinedu Eze

The International Air Transport Association (IATA) has highlighted three critical priorities to sustain progress in aviation safety.

The global body insisted that to sustain and improve safety in air transport, there must be a continuous focus on strengthening global standards, cultivating safety culture and maximising the use of date.

IATA made this known at the opening of the 2024 IATA World Safety and Operations Conference in Marrakech, Morocco yesterday.

IATA pointed out that these areas are critically important to improve performance in the face of growing operational challenges, numerous regional conflicts and evolving cybersecurity threats.

The Association disclosed that over 4.4 billion travelers flew safely in 2023 despite the increasingly complex operating environment. It noted that to progress further, airlines must prioritise global standards, including implementation and continuous modernisation of their operations.

“Safety is aviation’s main priority.

Over 4.4 billion travelers flew safely in 2023 despite an increasingly complex operating environment. To progress even further, we must prioritise global standards—implementation and continuous modernisation.

“We must also continue to cultivate a safety culture with an emphasis on collaboration and strong leadership.

And we must utilise the rapidly growing capabilities of data analysis

to better understand risks and drive innovation.

“Together, these are a winning strategy to make our safe industry even safer,” said IATA’s Director General, Willie Walsh. Walsh emphasised that global standards and best practices were vital to sustaining and driving safety improvements, which must be embraced by airlines and regulatory agencies.

IATA outlined two critical examples, which include the transition to risk-based IATA Operational Safety Audit (IOSA) that provides globally recognised safety standards for airline operations with a 20-year history of supporting safe operations.

It disclosed that the 2019-2023 average accident rate of IOSA airlines was 0.84 per million sectors which is almost three times better than the non-IOSA average of 2.24, remarking that a growing number of governments are adopting IOSA for use in their safety oversight programs.

“The transition to risk-based IOSA Audits, which focus on addressing specific risks relevant to individual airlines, will further strengthen the audit’s efficacy. A total of 63 risk-based audits have been conducted since 2023 when the program began, and the full transition will be completed by end of 2024,” IATA said.

IATA identified the second factor as timely publication of aviation accident reports, noting that accident investigation reports are a critical safety resource enabling the industry to continuously learn from understanding the root causes of accidents.

It indicated that since 2018, the latest IATA Annual Safety Report has highlighted that only 48 per cent of accidents have had a final report published, as required by Annex 13 of the Chicago Convention, insisting that this gap must be addressed.

“IATA calls on all governments to prioritise meeting this essential safety obligation. A working paper and five-point plan, developed by IATA and backed by multiple states, will advance to the International Civil Aviation Organisation (ICAO) Assembly next year,” the association said.

The third priority is safety culture, which the global body said plays an essential role in aviation safety, emphasising that to build a strong safety culture, senior leaders must create an environment where employees feel empowered to raise safety concerns, supported by clear and accessible processes that ensure issues are addressed swiftly and effectively.

“Additionally, fostering open channels for sharing safety improvements across the industry is critical to driving progress,” it added.

To strengthen aviation’s safety culture further, IATA, with input from across the industry, has developed a safety leadership charter, which initiative enhances safety culture with a commitment to eight fundamental safety leadership principles. The charter commits aviation leaders to foster a safety-oriented culture across their organizations. The number of airline CEOs committed to the charter has reached 100.

The second principle developed by

IATA is IATA Connect, which is an online platform and app that enhances collaboration and safety oversight. It is a central hub for airlines, auditors, and regulators to easily access critical safety-related information and guidance, including IOSA documentation, the Safety Issue Hub, and Safety Connect (a safety issues discussion forum). This, IATA stated, simplifies information sharing, supports risk management with data-driven insights, and promotes collaboration.

savings account (RSA) holders, equal to 20.3 per cent of the 9.95 million registered contributors as of March 2023, according to PenCom. Access PFA had 1,064,906 or 10.7 percent of the total registrations, which some market watchers believe is being driven by its successful acquisitions of Sigma Pensions and majority stake in First Guarantee Pensions.

ARM Pensions Limited came third with 896,635 RSA holders or nine per cent of the total registered contributors.

Trust Fund Pensions Limited enrolled 4,300 participants in the first quarter of 2023, with its total enrolment hitting 801,675 or 8.1 percent of total RSA holders.

Premium Pension Limited came fifth with 778,874 RSA holders or 7.9 percent of the total registered contributors.

PenCom data showed that 83,654 new RSAs were registered and the associated PINs issued to employees in different sectors.

Further breakdown Analysis of of RSA registrations across PFAs in the first quarter revealed that Stanbic IBTC continued to maintain the largest market share of 28 percent with 23,586 new registrations. It was followed by Access Pensions Limited, which had 11 per cent market share with 9,546 new registrations.

ARM Pension Managers (PFA) Limited, Leadway and Premium Pension Limited accounted for nine percent, eight percent, seven per cent respectively.

The five PFAs collectively held about 63 per cent of the 53,353 RSAs registered in the quarter under review.

PenCom data further revealed that total pension contributions remitted to individual RSAs in Q1 stood at N225.49 billion, with the public sector accounting for N124.70 billion or 55.30 percent, while the private sector contributed N100.79 billion or 44.70 percent.

The cumulative pension contributions from inception to the end of the first quarter of 2023 amounted to N8.70 trillion.

The total number of registered RSA holders was 9,945,537 as of March 2023, while total pension assets under management by the 19 PFAs stood at N15.583 trillion In its 2024 Insurance Industry Report, Agusto & Co., noted that the country's total pension assets rose to N18.36 trillion in 2023, representing a 22.34 per cent increase from the N14.99 trillion in 2022.

At the end of 2023, the number of licenced PFAs had decreased from 19 to 18 following the acquisition of ARM Pension Managers by Access Pensions.

These 18 PFAs held over N16.6 trillion in assets under management, representing a 39.5 per cent increase from the N11.9 trillion reported by the 19 PFAs at the end of 2022.

The industry maintains an oligopolistic nature, with the top five players controlling over 72 per cent of pension assets while accounting for over 59 per cent of total enrollees.

Stanbic IBTC continued to lead the industry both in terms of AuM, accounting for an estimated 37.4 per cent (N6.2 trillion) of the total, and enrolee base with a 20.4 per cent (c.

2.1 million) share of total registered pension contributors in 2023.

NBRDA Unveils TELA Maize Farms George Okoh

The National Biotechnology Research and Development Agency (NBRDA) yesterday, welcomed media representatives to its pioneering TELA Maize demonstration farms.

Director General/CEO of NBRDA, Prof. Abdullahi Mustapha, emphasised the agency's pivotal role in promoting biotechnology research and development in Nigeria.

TELA Maize, a genetically modified crop, boasts impressive insect-resistance and drought-tolerance features.

This innovation has garnered international acclaim, positioning Nigeria as a leader in biotechnology research.

He said TELA Maize hybrid varieties demonstrate increased resistance to pests and drought, leading to higher yields and better crop quality.

Furthermore, he said Nigeria could reduce reliance on imports, boosting food security and supporting economic growth.

Mustapha credited the crop's development to the combined efforts of scientists from the Institute of Agricultural Research, Zaria, and stakeholders from institutions such as the NBRDA, the National Biosafety Management Agency, the National Agricultural Seeds Council, and the AATF. “They have worked tirelessly to ensure that this crop is not only high-yielding but also safe for human consumption," he added.

Mustapha, expressed pride in the progress and reiterated the commitment to improving food security through biotechnology.

He said: "Nigeria is inspiring other countries in Africa by taking the lead in

exploiting the potential of biotechnology to solve food security issues.

"For example, cowpea was the first genetically modified variety released globally, and Nigerian scientists under Nigerian regulations did it. Nigeria should be proud of that."

The agricultural expert dispelled rumours about the safety of TELA maize, stating that it underwent rigorous testing and safety measures.

"We ensure that the environment will not be affected when you release this product in nature. Non-target organisms such as rodents, bees, and pollinators have been evaluated for the safety of the product," he explained.

He noted that the TELA maize variety has been hailed as a "climatesmart" technology that helps farmers cope with issues related to drought and pest infestations, including fall armyworms and stem borers.

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STRENGTHENING BASIC EDUCATION IN NIGERIA...

L- R: Director Physical Planning UBEC, Engr Sadique Sahad; Executive Secretary, Universal Basic Education Commission (UBEC), Dr. Hamid Bobboyi; Deputy Executive Secretary (Technical) UBEC, Prof Bala Zakari and the Dean of Zonal Directors of UBEC, Mr Akpan Ossom Udoh, at the opening of UBEC management with Zonal Directors, Officers and State coordinators on strengthening Zonal and Photo: ENOCK REUBEN State offices for better basic education Sector in Nigeria held in Abuja...recently

Thai Road Crash Raises Questions About Safety of CNG-Powered Vehicles Emmanuel Addeh in Abuja The bodies of 20 children and three teachers were yesterday recovered after a bus transporting school pupils crashed and caught fire outside Bangkok. The bus was returning to the Thai capital after a school trip to the north of the country.

Videos from the scene showed flames engulfing the bus as it burned under an overpass, with huge clouds of dense black smoke billowing into the sky.

But the Transport Minister, Suriyahe Juangroongruangkit, said the bus was powered by "extremely risky" Compressed Natural Gas (CNG), raising posers over the safety of the fuel which Nigeria has recently invested billions of Naira to partly replace the use of expensive petrol.

But the Presidential CNG Initiative (PCNGI), the federal government organisation which drives the programme in Nigeria, has always stated that the fuel is not only cheaper but safer and less combustible than petrol.

“Yes, it is absolutely safe as a gas.

Being lighter than air, in case of a leak, it rises up and disperses into the atmosphere. This property precisely makes it a safe fuel. Furthermore, CNG has a narrow flammability range.

“If CNG’s concentration in the air is less than 5 per cent and more than 15 per cent, the gas will not burn

even in the presence of a spark,” the PCNGI office said in one of its Frequently Asked Questions (FAQ) on its website.

The Chief Executive Officer of the PCNGI, Michael Oluwagbemi, has also on several occasions re-echoed that compared to petrol, CNG is far cheaper and does less harm to the environment.

“It (CNG) has the capacity of reducing inflation. It is cheaper. You can realise between 40 per cent to 50 per cent savings from patrol. This is good for Nigeria and it is safer.

It is 18 time safer than our petrol and diesel. It is cleaner and safer for the environment,” Oluwagbemi stated recently.

But witnesses said the bus crashed into the concrete barrier dividing the highway just north of Bangkok, after a front tyre burst and was quickly consumed by an intense fire, with many on board were unable to get out, BBC News reported.

Nineteen children and three teachers were reported to have survived, 16 of whom are being treated in hospital for their injuries.

"This is a very tragic incident," Suriyahe told reporters at the scene.

"The ministry must find a measure… if possible, for passenger vehicles like this to be banned from using this type of fuel because it’s extremely risky," he added.

Piyalak Thinkaew, who was leading the search, said it was hard

to identify the bodies because they were so badly burnt.

"Some of the bodies we found were very, very small," he told reporters at the scene, adding that the fire started at the front of the bus. "The kids' instinct was to escape to the back so the bodies

were there," he said.

Forensic police said of the 23 bodies found, eleven were male, seven female and a further five were unidentifiable.

Thailand has one of the worst road safety records in the world, with unsafe vehicles and poor

driving contributing to roughly 20,000 fatalities a year.

The federal government of Nigeria hopes to achieve the conversion of 1 million petrol vehicles in the country to CNG by 2027 and has already built conversion centres and commenced distribution of free CNG conversion

kits in some states of the federation.

According to the government, this will lead to between 40 per cent and 70 per cent savings for road transport users and operators, with commercial vehicles forming about 90 per cent of the transport users in Nigeria.

Editors, Family, Friends Pay Tribute to Remi Oyo at 10th Remembrance Service Ayodeji Ake

Media professionals, Catholic faithful, friends and family members yesterday gathered to honour late Dame Oluremi Oyo, with a thanksgiving service to mark 10 years of her death at the Catholic Church of Presentation, Ikeja.

Oyo, a President of the Nigerian Guild of Editors (NGE), Managing Director of the News Agency of Nigeria (NAN), and the presidential spokesperson during the administration of Chief Olusegun Obasanjo, died on October 1, 2014.

The Publisher and Editor-in-Chief, THISDAY/ARISE News Channel Media Group, Prince Nduka Obaigbena, was well represented at the event by the Managing Director of THISDAY, Mr. Eniola Bello and

THISDAY Ombudsman, Mr. Kayode Komolafe.

The Managing Director of NAN, Malam Ali M Ali, was represented by the Head of Lagos Office, Mr. Adeleye Ajayi.

A former Head of Civil Service of the Federation, Chief Stephen Oronsaye; NGE President, Mr Eze Anaba, and former presidential spokespersons, Messrs Reuben Abati and Femi Adesina, were equally at the service.

In a sermon, Rev. Fr. Vincent Olofinkua of the Catholic Church of Presentation, described Oyo as a distinguished human being who impacted many lives.

“Oyo’s life, times and legacies ought to resonate in people’s daily

approach to life to make a better society,” the cleric said.

He described Oyo as generous and humane, adding that she used her position and resources to help people across tribes and backgrounds.

“Oyo was a woman of unwavering faith, generousity and kindness, a woman of talents both in the church and public service.

“She played vital role in shaping NAN. “Her faith in the Catholic Church was unparalleled. ” As we reflect on the life of our beloved Felicia Oluremi Oyo, we should keep her legacy alive by being humane,” he admonished.

Reminiscing, the son of the

deceased, Otome Oyo, said his mother was a problem solver who was always interested in helping people in her little way.

He said: "It's awful when I think about my mother. Its sweet bitter that she is no more but it's also sweet when we see the number of lives she has impacted. A number of people here give a sense of accomplishment.

"My hope for everyone is that we all live to emulate the things she stood for and continue to practice the faith that she believed, put it into work and impact the lives of people around us.

"She was someone who will never overlook anyone with problem without intervening. She was always there to listen and assist.”

Council of Legal Education Approves Law Programmes CDS Calls on Armed Forces to Remain for Five Universities, Releases Bar Exam Results Patriotic, Professional in Tackling Insecurity Wale Igbintade

Linus Aleke in Abuja

The Chief of Defence Staff, General Christopher Musa, yesterday called on all members of the Armed Forces of Nigeria to remain patriotic, abide by their professional calling, in ensuring that peace and tranquility prevails in the country as "we mark another face of our nationhood".

He also said that the Armed Forces of Nigerian under his leadership will not pay mere lips service to the germane issues of patriotism and loyalty to constituted authorities owing to the great responsibilities placed on the shoulder of the military over these eventful years.

He said: "As a nation, there are norms and values that bind us together, of which if we make collective efforts to promote, the nation will be better for all.

“It is a thing of joy to note that for the past twenty-five years, the AFN has remained in the barracks, while supporting the democratically elected government to lead the affairs of the nation".

This call was contained in Gen Musa's independence anniversary statement signed by Acting Director Defence information, Brig Gen Tukur Gusau.

According to the statement, "As we commemorate with joy, the 64th Anniversary of our dear nation, the Chief of Defence Staff, General Christopher Gwabin Musa have the honour on behalf of the Armed Forces of Nigeria to, salutes our founding fathers who have contributed immeasurably to make this auspicious day a reality.

“According to him, he cannot but remember their doggedness, resilience and sacrifice, predicated on unfeigned love for our nation, which has enabled us to remain indivisible as a nation for the past 64 years.

“This is not to say the journey to nationhood had been all smooth, despite the fact that we obtained our independence without bloodshed.

“That we are alive today, we have every cause to glorify God, most especially members of the Armed Forces who must have at one time or the other witnessed the sacrifice of their colleagues in the defence of our dear nation".

Musa also seized the opportunity to salute the gallantry of troops for sustaining the status of being the pride of the nation. He said the AFN has not let the nation down in its fight against insurgents, banditry and other forms of criminalities.

He said: "Lucid as the above as-

sertion may sound, we still need to remind ourselves that all hands must be on the deck in our collective efforts to curtail the insecurity bedeviling the nation".

He urged Nigerians to always see something and say something.

The CDS further warned those who are incurably pessimistic about the well-being of the nation, adopting subversive posture, offering themselves as willing tools for destabilization to have a rethink as the AFN will not permit the subversive elements to have their ways.

Meanwhile, the Minister of Defence, Badaru Abubakar, congratulated president Bola Tinubu and also extended his congratulations to the Armed Forces and all Nigerians on the 64th independence anniversary celebration. The Defence Minister in a statement on Tuesday said: "Our Armed Forces have played a pivotal role in preserving the integrity and security of this great nation. Their unwavering dedication remains a beacon of hope for Nigeria’s future".

Abubakar reechoed the importance of unity and collective effort, adding, "our strength lies in our unity. Let us continue to work together in the pursuit of peace, security, and prosperity for all Nigerians."

The Council of Legal Education (CLE) has given approval to five universities to commence intake of students for Bachelor of Law (LLB) Degree.

The affected universities are: University on the Niger, Umunya, Anambra State, Maduka University, Ekwegbe-Nsukka, Enugu State, Alex Ekwueme Federal University, Ndufu-Alike, Ebonyi State, and the Arthur Jarvis University, Akpabuyo, Calabar, Cross River State.

A statement issued by the Secretary to the Council & Director of Administration, Ms. A.O. Osho stated that approval was granted following the accreditation reports presented by the Board of Studies, chaired by the Director-General, Prof.

Isa Hayatu Chiroma, SAN. The statement added that the decision was reached at the third quarterly meeting of the Council, held on Friday, September 27, 2024 at the council’s Chambers, Nigerian Law School Headquarters, Bwari, Federal Capital Territory, Abuja, under the chairmanship of Chief Emeka Ngige, SAN. The council also released the results of the June 2024 Resit Bar Final Examinations, where a total of 1,287 students participated.

Breakdown of the results revealed that 19 students were absent, six

students received conditional pass, while 463 students failed the exam, resenting 35.98% of the participants.

Also, 796 students passed the examination, one result was invalidated, while two of the results were withheld.

The council also approved the appointment of Mr. Oluwabamigbe Gbenga who has been serving in acting capacity as the substantive Director of Finance and Accounts Department of the Nigerian Law School.

The statement read: "In the same vein the faculties of law in the following universities were not granted approval to commence studies: Tansian University, Umunya, Anambra State.

The university was directed to stop the admission of law students immediately until when all the issues highlighted in the Faculty of Law are addressed and the council re-invited for verification.

"Wesley University, Ondo, Ondo State. The university was equally directed to address the multi-dimensional issues highlighted in the Faculty of Law and thereafter re-invite the council for verification.

"The council approved various sanctions in respect of referred admission cases as well as students involved in various forms of examination malpractice and other misconduct.

"The council approved the report and recommendations of the Appointments, Promotions and Disciplinary

Committee (AP&DC) headed by the President of the Nigerian Bar Association (NBA), Mazi Afam Osigwe, SAN for the promotion and discipline of some academic and non-academic staff of the Nigerian Law School.

"The council approved the appointment of Ms. Aderonke O. Osho who had been serving in acting capacity as the substantive Secretary to Council and Director of Administration of the Council of Legal Education and the Nigerian Law School for a five year tenure, subject to the existing revised Public Service Rules (PSR), 2021.

"The council also approved the appointment of Mr. Oluwabamigbe Gbenga who has been serving in acting capacity as the substantive Director of Finance and Accounts Department of the Nigerian Law School.

"On the letters of appeals by Lead City University, Ibadan and Baze University, Abuja, respectively requesting for review of the moratoriums imposed on their law faculties, the council directed the management of the Nigerian Law School to reply them stating that the moratoriums on the admission of students still stand and that the universities would be revisited by the accreditation team at the appropriate time to ensure their compliance with the council's directives.’’

WEDNESDAY OCTOBER 2, 2024 • T H I S D AY

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NIGERIA'S 64TH INDEPENDENCE DAY CAKE...

L-R: Chief Justice of Nigeria CJN), Justice Kudirat Kekere-Ekun; Wife of the Vice President, Hajiya Nana Shettima; Vice President Kashim Shettima; President Bola Ahmed Tinubu; First Lady of Nigeria, Senator Oluremi Tinubu; Senate President Godswill Akpabio; Speaker House of Representatives, Tajudeen Abass; Wife of the Speaker, Hajiya Fatima Abbas; and Secretary to the Government of the PHOTO: GODWIN OMOIGUI Federation (SGF), Sen George Akume, during the 64th Nigeria's Independence Day Parade, held at the Presidential Villa, Abuja ....yesterday

Tinubu Leads Shettima, Others in Magnificent 64th Independence Anniversary Guards Parade

by his wife, Senator Oluremi Tinubu.

Tinubu was received at about 10.03am by military bagpipers, who ushered him into the arena after an inspection of the Quarter Guard mounted by troops of the Brigade of Guards.

Thereafter, the president, proceeded to the saluting dais, where he took the national salute as Special Guest of Honour to signify the proper commencement of the event.

The 64th anniversary witnessed a presidential change of guards, which paved the way for a Nigerian Armed Forces Colour Patrol and displays to symbolise Nigeria's national and military pride.

The segment was followed by a Guards Brigade Silent drill platoon, which wowed guests and other spectators, including ministers, presidential aides as well as members of the diplomatic corps, who had thronged the venue to witness the festivities.

Guests at the venue were also treated to a variety of unique performances by a combined mass band and displays put together by a cultural troupe drawn from the six geo-political zones to depict the country's cultural diversity.

Tinubu, thereafter proceeded to cut the anniversary cake as well as release the anniversary pigeons to symbolise peace.

Other dignitaries at the ceremony were Speaker of the House of Representatives, Hon Tajudeen Abbas Tajudeen; Chief Justice of the Federation, Justice Kubirat Kekere-Ekun; former Vice President Namadi Sambo; members of the Federal Executive Council; National Assembly members and members of the diplomatic corps, among others.

Also present were the Chief of Defence Staff, Heads of Security Agencies, Head of the National Intelligence Agency, Director General of the Directorate of State Service and the Inspector General of Police.

The event was the second Independence Day anniversary celebration since President Tinubu assumed office on May 29, 2023.

However, across Nigeria, governors also marked the nation’s 64th independence anniversary with accompanying messages, peculiar to their state and country.

Babajide Sanwo-Olu, Lagos The Lagos State Governor, Mr Babajide Sanwo-Olu has warned that the country must also confront the reality of growing apathy, distrust,

and restiveness among its citizens, lamenting that the state of the nation's economy was principally responsible for the situation.

Speaking at the low-keyed 64th National Independence Day Celebration held the Lagos House, Marina, yesterday, the governor said he understood the sentiments of frustration that many Nigerians felt.

According to him, "The challenges we face seem endless: insecurity, economic hardship, and distrust in leadership. These are not just statistics or talking points – they are the lived experiences of Lagosians, the heart and soul of our great state.

"Today, I want to speak to your hearts, to remind you of the strength, resilience, and creativity that define Lagos and its people. We are a state of over 20 million dreams, a melting pot of cultures, talents, and aspirations.

"When the world looks at Lagos, it sees Nigeria’s brightest hope, its most vibrant energy. And that is why, despite the challenges we face as a nation, I stand before you with confidence that together, we can build a Lagos and a Nigeria that fulfills the dreams of every citizen."

Sanwo-Olu, however, added that Nigerians could not afford to lose faith, though the journey has been difficult, and the path ahead may seem uncertain.

Seyi Makinde, Oyo Oyo State Governor, ‘Seyi Makinde, has called on residents of the state to keep hope alive as Nigeria celebrated its 64th Independence Anniversary, noting that his government would continue to take decisions that serve the best interest of the people.

The governor said as part of decisions to mitigate the economic challenges facing the people, he had directed an immediate change in the guarantor system for the state's agricultural credit loan for small farmers.

According to him, instead of the requirement that allowed only civil servants to guarantee farmers seeking the loan, residents, seeking to also. access the loan could now be guaranteed by community associations, farmers and artisanal associations.

He equally declared a six-month extension for the state's Sustainable Action for Economic Recovery (SAfER) Transport Scheme, which had seen intra-city and inter-city transportation in state government-owned Omituntun Buses subsidised by more than half, noting that he had further directed that a similar subsidy be introduced

on trucks for crop transportation across the state.

These measures, the governor said, were introduced to reaffirm his government's commitment to making decisions that would serve the best interests of the people amid the cloudy economic times in the country.

AbdulRahman AbdulRazaq, Kwara Kwara State Governor, AbdulRahman AbdulRazaq, while felicitating President Bola Tinubu and the people of Nigeria on the 64th anniversary of the country, also congratulated the people of Kwara State on the milestone.

“I am upbeat that this country is destined for greatness. Together, we can achieve not just the dream of our fathers for Nigeria but surpass it as everyone plays their roles in their own corners.

“But we need to know that nation building is a marathon and an endeavour that requires collective efforts to achieve. I commend the President for his bold reforms and the palliatives to temper its initial fallouts on the people, including the huge efforts to boost food security and critical national infrastructure.

“This is being complemented at subnational levels with improved infrastructure development, investments in human capital development, and different economic initiatives and social protection measures designed to improve the living conditions of the people.

“I join Mr. President and other patriots to appeal for patience and support as we navigate this phase.

The fruits will be sweeter for all.

Happy Independence Anniversary, dear compatriots,” a statement by his Chief Press Secretary, Rafiu Ajakaye, stated.

Caleb Mutfwang, Plateau Plateau State Governor, Caleb Mutfwang, yesterday, seized the occasion of the nation’s 64th independence anniversary to grant state pardon to five prison inmates, while calling on citizens to embrace the spirit of peace, unity, and compassion despite the challenges confronting the country.

The governor announced the pardon of the five inmates in a state broadcast, noting that they had demonstrated significant improvement in their behaviour and conduct.

“Fellow citizens, in the exercise of my prerogative of mercy as

enshrined in the constitution of the Federal Republic of Nigeria and in line with the recommendations of the Plateau State Advisory Council on Prerogative of Mercy, I have granted pardon to five persons who have served various jail terms and have significantly demonstrated good conduct over the years," he said.

Mutfwang urged Nigerians to remain hopeful and steadfast in their resolve to build a united and peaceful nation that would be a source of pride for all.

“On this day, we honour the historic moment when we gained our sovereignty and embarked on a journey toward self-determination and nationhood. This day holds profound significance for every Nigerian, as it reminds us of our shared destiny and the resilient spirit that has kept us together through trials and triumphs,” he added.

Chukwuma Soludo, Anambra Anambra State Governor, Prof.

Chukwuma Charles Soludo, has assured the people that a greater future awaited Nigeria.

Speaking at a parade ceremony to celebrate Nigeria's 64th Independence anniversary held at Dr. Alex Ekwueme Square, Awka, Soludo said, "We've gathered yet again this year to celebrate Nigeria's 64th Independence anniversary. Despite our challenges and triumphs, we have made progress.

"Challenges are many, but amidst all, my message is that our tomorrow will be greater than our today. I see hope. I see prosperity. I see joy. We are here to remember the dreams of our founding fathers and the leaders that flew the flag at our independence.

“We remember all the victims at this hour and all those who suffered in one way or the other; poverty, malnutrition, the sick that we could not provide with adequate hospital care and so on and so forth."

The governor revealed that to build the dream Nigeria, all Nigerians needed to come together so that the nation could be blessed with peace and plenty.

Ahmed Aliyu, Sokoto Sokoto State Governor, Dr Ahmed Aliyu, has collective action was the only plausible panacea to banditry and other forms of security challenges facing the state and Nigeria in general.

In a statement by his Chief Press Secretary, Abubakar Bawa, marking Nigeria’s 64th independence celebra-

tion, the governor stressed the need for the people to complement the efforts of the federal and state governments in protecting the lives and property of the citizens.

According to him, the present administration in the state had since assuming office, spent huge sums of money on securing the state and that, “When we came on board, the monthly allowances given to the security operatives deployed to flashpoints had stopped, and we have since restored that and even increased the amount.

“We equally procured 100 vehicles, which we distributed to the security outfits in the state in order to checkmate the activities of bandits,” he added.

The governor further said his administration had however set up a Community Guard Corps with a view to complementing the efforts of the conventional security outfits in protecting the lives and property of rural communities.

Siminalayi Fubara, Rivers Rivers State Governor, Siminalayi Fubara, has applauded President Bola Tinubu, for what he described as his bold, dynamic and pragmatic economic reforms targeted at correcting the structural deformities of the past.

The governor, who gave the commendation during Nigeria’s 64thj Independence Day Anniversary Parade at the Government House Arcade, Port Harcourt, said President Tinubu had ushered Nigeria into a new vista of sustainable economic growth and prosperity.

"October 1, 1960 was historic with the first Prime Minister of Nigeria, Abubakar Tafawa Balewa, raising Nigeria's much cherished green-whitegreen flag to signify the independence and freedom gained from the British colonial rule," he said.

Fubara noted that there had been heroic sacrifices by founding fathers, other leaders, brave men and women, who had made numerous achievements in sustaining freedom and promoting the unity and progress of Nigeria.

"The vision of our founding fathers at independence was to build a united and secure nation anchored on the values of brotherhood, democracy, justice, and the equality of all peoples, tribes and nations,” he said.

Abba Yusuf, Kano Kano State Governor, Abba Yusuf, has called on Nigerians to use the

Independence day celebration for sober reflections in renewing commitment to building a stronger, united, and prosperous nation.

Yusuf, who disclosed this in commemoration of the 64th years anniversary, held at Sani Abacha Stadium, Kano, said, "We gather to celebrate the 64th year of our Nation's independence. It marks a significant milestone in the history of our beloved country, a day that is engraved in the hearts of every citizen, young and old.

"It is a day when we pause to reflect on our past, honour the sacrifices of our forefathers, and renew our commitment to building a stronger, united, and prosperous Nation.

"Today, as we gather to celebrate Nigeria's 64th Independence Anniversary, we reflect on our journey as a nation, our triumphs, our challenges, and our unwavering spirit of resilience."

“It is a time to honor our past, acknowledge our present, and envision a future filled with hope and promise.

Independence Day is not just a day on calendar" he stated.

Ademola Adeleke, Osun Osun State Governor, Ademola Adeleke, yesterday, called on all Nigerians to be more committed to the core values that define the nation.

According to him, the core values included unity, progress, and the unwavering belief in the collective ability of the people to shape a brighter future “We must reflect upon the journey of our nation since attaining sovereignty on 1st October 1960. We remember the struggles, sacrifices, and the unbreakable spirit that have brought us this far.

“Today, as we celebrate, we also look to the future, filled with hope, aspiration, and the determination to make Osun State a beacon of excellence within our nation.”

He, however, promised that under his leadership, Osun would continue to be a shining example for other states to emulate.

Usman Ododo, Kogi Kogi State Governor, Usman Ododo, has joined millions of Nigerian celebrating the 64th independence anniversary of the country, urging Nigerians to re-commit themselves to the peace and progress of the nation in order to stand strong in challenging times.

This was contained in a state broadcast to the people of Kogi

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Protesters yesterday in Lagos...

#EndBadGovernance protest led by Omoyele Sowore at Ikeja Roundabout in Lagos, yesterday PHOTO: SUNDAY ADIGUN

#EndBadGovernance protest held at Gani Fawehinmi Park in Lagos, yesterday PHOTO: SUNDAY ADIGUN

Tinubu Leads Shettima, Others in Magnificent 64th Independence Anniversary Guards Parade

marking the 64th Independence anniversary of the nation.

"As we celebrate this Independence Day, 2024 we must remind ourselves of the words of our national motto: ‘Unity and Faith, Peace and Progress’. They encapsulate our ideals as one nation and we must re-commit ourselves to them in order to stand strong even in challenging times," he said.

He, therefore, called on Nigerians to continue to support the leadership of the President Bola Tinubu-led administration, saying betters days were ahead, saying, "At this critical juncture in our history, we are glad to have the leadership of our current president, Bola Ahmed Tinubu, to look up to.

“Without a doubt, President Tinubu is steering Nigeria in the right direction, ushering in a national Renaissance, especially in the ways and means by which our economy is managed. His administration has shown unprecedented courage in addressing long-standing structural anomalies, which previous governments, fearful of the inevitable fallout, carefully avoided.”

Alex Otti, Abia Abia State Governor, Alex Otti, has said the quest for national restoration would be achieved if every Nigerian made a personal resolve to render selfless service.

In his 64th anniversary of Nigeria's independence address, he said, "It is always fashionable to blame those in positions of privilege for the woes of our nation."

He invited Nigerians to engage in self-examination "to find instances of our own complicity in the challenges that have plagued our nation in the last six decades and more.

"When we condone corruption and malfeasance in our various establishments, or place primordial sentiments of tribe and religion above objectivity in our response to national issues, we simply water the ground for unending cycles of failure," Otti said.

But in all circumstances, he said, "Our most promising path to national reawakening is to begin to think less of ourselves as individuals and tribesmen but rise collectively to the responsibilities of true citizenship."

Dapo Abiodun, Ogun Ogun State Governor, Dapo Abiodun, yesterday, urged Nigerians to remain united and confront current realities facing the nation.

Abiodun, who gave the charge while speaking at the Arcade Ground, Governor's Office, Okemosan, Abeokuta, on the occasion to mark the 64th Independence Anniversary of Nigeria, said Nigerians have achieved numerous milestones and that the nation would continue to be a symbol of strength, unity, and hope for the African continent.

"This day holds immense significance in our collective history as it

reminds us of the bravery, sacrifices, and undying hope our founding fathers held when they envisioned a free, united, and prosperous Nigeria.

"In our 64-year journey as a nation, we have achieved numerous milestones. As a nation, we have triumphed over countless obstacles, and with each passing year, we remain steadfast in our commitment to building a land where peace, progress, and prosperity define our national identity.

"While independence is a monumental achievement, we must also confront the present realities. Today, Nigeria faces turbulent economic times. Global economic pressures, coupled with domestic challenges, have placed significant strain on our resources,” he said.

Lucky Aiyedatiwa, Ondo Ondo State Governor, Lucky Aiyedatiwa, in the spirit of the Independence Day celebration, has extended mercy to 117 convicts currently serving prison terms in the state.

The clemency followed the recommendations from the Advisory Council on the Prerogative of Mercy, highlighting a commitment to rehabilitation and second chances within the justice system.

The decision was announced in a release by the Attorney General and Commissioner for Justice, Dr. Olukayode Ajulo, who is also the Chairman of the Advisory Council on the Prerogative of Mercy.

The statement noted that the governor signed the release orders on September 27, 2024, with the changes set to take effect on October 1, 2024, coinciding with the nation’s 64th Independence celebrations.

He justified that governor Aiyedatiwa’s actions conform with Section 212 (1) (2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

According to him, among the beneficiaries, 19 convicts would enjoy outright release, while some others would see their death sentences commuted to life imprisonment. Also, several inmates would have their sentences reduced, paving the way for renewed hope and opportunities for reintegration into society.

Uba Sani, Kaduna Kaduna State Governor, Senator Uba Sani, has blamed the nation's economic problems on unfair global economic systems and years of mismanagement.

In an address on Wednesday during celebrations marking the country's 64th Independence Anniversary at the Ahmadu Bello Stadium, Kaduna, Sani noted that, this year's anniversary came at a time of severe economic hardship in many households.

"Our nation is grappling with economic difficulties due to the unfair global economic system and

years of mismanagement," he said, adding that, for the past 64 years, the country had witnessed its "highs and lows, ups and downs" and has continued to weather the storms.

He said despite the current challenges, there was every reason to celebrate the achievements so far recorded in the past 64 years.

He asked Nigerians to unite and work together to create a nation where every citizen could thrive and realise their full potential, saying, "Today reminds us not only of our sovereignty but the courage and resilience that defines us as a people," the governor said.

Sheriff Oborevwori, Delta Delta State Governor, Sheriff Oborevwori, has appealed to wellmeaning citizens to unite against forces that seek to put a knife in the cords that bind them together as a nation.

Oborevwori also stressed his administration's determination to take steps that would bring insecurity in the state to the barest minimum, including enlisting the support of the private sector and organising a fundraising programme towards the revitalising of the Delta State Security Fund.

Oborevwori called for full cooperation of the people to enable the government succeed in the implementation of its development programmes as encapsulated in the M.O.R.E agenda, adding that he was optimistic that Nigeria would overcome her challenges sooner than later.

He said the government was leaving no stone unturned to achieve more for the people, appealing for the cooperation of Deltans to enable the government succeed in the implementation of its development programmes as encapsulated in the M.O.R.E agenda.

The governor, who honoured the memory of Nigeria's founding fathers, said, "We must stand resolute in contending with the forces of evil threatening to tear us apart through bigotry, inciting oratory, and insurgency.”

Mai Mala Buni, Yobe Yobe State Governor, Hon. Mai Mala Buni has appealed to the people of the state not to allow socio-cultural, religious and political sentiments to define their relationships and unity of the state.

The governor, who stated this at a reception in honour of Barrister Baba Dala Fika, who was conferred with the rank of a Senior Advocate of Nigeria (SAN), said his administration was committed to building a state that guarantees a true sense of belonging to all sons and daughters of the state.

“We will not give room to cultural, ethnic, political, social status and religious differences to define who we are, or determine our unity as a people," he said.

He however, assured that his administration would continue to

accord education a top priority to improve human capital development as a measure to fast track development in the state.

“I wish to reassure the good people of Yobe State that our administration is committed to providing the needed infrastructure, manpower, and payment of examination fees to every child, to meet our objective of providing free education to all school-aged children in the state,” he stated.

However, while the governors celebrated in their states, some of the ministers, too, spoke on the. significance of the day in their respective capacities.

Nyesom Wike, FCT Minister of the FCT, Nyesom Wike, has reiterated the commitment of his administration to ensure that Abuja remained a symbol of hope, center for opportunities, and place of peace for all Nigerians.

Wike, who reaffirmed this in his message to the residents of the territory on the nation's 64th independence anniversary, described the FCT as a melting pot of diverse cultures, ethnicities and traditions, all coexisting harmoniously.

While noting the unique blend of diversity was not just a strength but the hope for a brighter future, he called for commitment towards fostering national unity and progress in line with the renewed hope agenda.

"Let us also take this opportunity to celebrate our collective achievements, honour our diversity, and look forward to a brighter future together," he said.

Hannatu Musawa, Art & Culture The Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa, has congratulated President Bola Ahmed Tinubu on the occasion of Nigeria's 64th Independence Anniversary.

Musawa said the creation of the Ministry of Art, Culture and the Creative Economy underscored Tinubu's recognition of the critical role the creative industry plays in driving economic growth, cultural preservation, and national development.

She expressed gratitude to the president for his unwavering support and commitment to the creative sector, pledging to work tirelessly to ensure the ministry's objectives are achieved.

“I extend my heartfelt appreciation to the good people of Nigeria as we mark the nation’s 64th Independence Day anniversary,” she said.

Also, on their parts, the ruling party and some of the opposition political parties, had something to say in commemoration of the day.

All Progressives Congress The All Progressives Congress (APC) has said its administration

remained resolute and determined to bequeath a greater and more prosperous nation to present future generations.

National Publicity Secretary, Felix Morka, who gave the assurance in a statement, paid tribute to the founding fathers whose courage, doggedness, sacrifices and patriotism earned for the Nigerians an independent nation that has endured 64 years, and marching on.

Morka said without question, the journey had not been without its stumbles, but “we rise and soar towards a more vibrant and prosperous future.”

He noted that President Bola Tinubu administration’s Renewed Hope Agenda was a pact designed to clear barricades along the nation’s path to greatness.

Peoples Democratic Party But the Peoples Democratic Party (PDP) has described the 64th Independent Day Speech by President Bola Tinubu as another lethargic and windy rhetoric of false performance claims and empty promises ostensibly scripted to delude Nigerians in the face of abysmal failure of the APC administration.

In a statement by its National Publicity Secretary, Debo Ologunagba, the party said that Nigerians were appalled that the president’s speech was a complete waste of time as it did not address issues or proffer any solution to the myriads of economic and security problems created by the APC government, for which Nigerians are hurting.

The PDP said Tinubu, by this speech, had further confirmed the insensitivity of his administration towards the plight and demands by Nigerians which clearly authenticated PDP’s position that there was no hope in sight under the overtly clueless, insensitive and unresponsive APC-led government.

He said the failure of the speech to respond to the cries of millions of Nigerians that President Tinubu eases their suffering by reviewing lifesuffocating policies of his government also validated concerns in the public space of an emerging totalitarianism where certain individuals or group of individuals were benefitting from the travails of the people.

All Progressives Grand Alliance National Chairman of the All Progressives Grand Alliance (APGA), Chief Sly Ezeokenwa, has saluted the strong will exhibited by Nigerians despite the numerous challenges confronting them.

He urged the federal government to implement swift measures aimed at reducing the hardship occasioned by recent policies, particularly the removal of fuel subsidies and the resulting inflation, which has placed

a strain on the citizenry.

In a statement by his Special Adviser on Media and Publicity Mr. Tony Olisa Mbeki Ogbonna, he urged the government to implement swift measures aimed at reducing the hardship occasioned by recent federal policies, particularly the removal of fuel subsidies and the resulting inflation, which has placed a strain on the citizenry.

He also urged Nigerians to continue embrace peace, tolerance, and patriotism, stressing that the country's progress depends on collective efforts from all citizens.

These, nonetheless, different civil society groups, also expressed displeasure at the turn of event today in the country since the Tinubu administration assumed office.

Coalition of Opposition Parties The coalition of Opposition political parties has described the speech of President Tinubu's on Independence Day as falling short of expectations, particularly in addressing the plight of peaceful protesters and prisoners of conscience.

The coalition said by not acknowledging their struggles, the president missed an opportunity to uphold the fundamental principles of democracy.

In a statement, Secretary of the coalition, Peter Ameh, said "Dissent and protests were essential components of a healthy democracy, and ignoring them undermines the very foundation of our democratic society."

It said while President Tinubu acknowledged the suffering of Nigerians, he failed to take responsibility for the untold hardship caused by the removal of fuel subsidies through an impulsive process.

Ikpea Greets Tinubu, Nigerians Founder/Group Chairman, Lee Engineering Group and Allied Companies Limited, Dr. Leemon Ikpea, CON, has congratulated Nigerians and President Bola Tinubu on the 64th Independence Anniversary of the country.

In a statement, the billionaire entrepreneur called on Nigerians to exercise patience with the current administration, assuring them that the pains associated with the ongoing reforms would soon be over.

The Adolor of Ewato pointed out that the Nigerian economy was turning the corner, explaining that with a little more perseverance, the results would soon be reaped by the country.

“I want to on the occasion of this special national celebration felicitate President Bola Tinubu as he skilfully navigates the ship of state at this difficult time. I will like Nigerians to have faith in this government and believe that the President has Continued on page 12

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Iran Launches Major Missile Attack on Israel over Killing of Hezbollah Leader, Others Netanyahu says Islamic republic made big mistake, vows retaliation

Emmanuel Addeh in Abuja

Iran launched dozens of missiles toward Israel yesterday in what it said was a response to the killing of Hezbollah leader, Hassan Nasrallah, and others.

CNN teams on the ground in multiple locations across Israel observed dozens of missiles flying above them. Some were intercepted by Israel’s air defences, although it is not clear how many. Sirens sounded across the country, according to a statement from Israel’s military.

Israel’s military said its initial estimate was that Iran fired 180 “projectiles” at the country. Israel Defence Forces (IDF) spokesperson Rear Admiral Daniel Hagari said there were no injuries following the attack, adding this was not the first time Israel had faced a threat from Iran.

“We are ready for them,” he said.

“There was a serious attack on us and there will be serious consequences,” Hagari said in a briefing.

Iran’s Islamic Revolutionary Guard Corps (IRGC) said it targeted Israel in response to the killing of Nasrallah and others, according to Iran’s semi-official Tasnim news agency.

After the barrage of missiles was launched, the Iranian mission to the

United Nations said that Tehran carried out a response to “the terrorist acts of the Zionist regime.”

The mission said on X that if Israel should “dare to respond or commit further acts of malevolence, a subsequent and crushing response will ensue.”

The White House warned earlier on Tuesday that Iran was poised to launch a ballistic missile attack on Israel soon, instantly ratcheting up fears of all-out war in the region.

People in Tel Aviv and other cities had been told to stay near shelters or other protected areas and the atmosphere on the streets was noticeably tense.

In a statement released midmorning, just hours before Tehran launched the attack, the White House said it had “indications that Iran is preparing to imminently launch a ballistic missile attack against Israel,” adding the United States was “actively supporting defensive preparations to defend Israel against this attack.”

“A direct military attack from Iran against Israel will carry severe consequences for Iran,” a senior White House official said in a statement.

Israel assessed that Iran was likely to attack three Israeli air bases and an intelligence base located just north of

Iran's president, Masoud Pezeshkian Tel Aviv, a person briefed on the matter said before the attack. Some of the missiles launched by Iran appeared to target these locations.

The intelligence base in Glilot was evacuated Tuesday afternoon, the person said, and the Israeli military has put contingency plans for the safety of personnel at those bases into effect.

An Israeli source told CNN shortly after the White House’s warning that intense diplomacy was happening behind the scenes.

President Joe Biden convened a meeting with Vice President Kamala

Harris and top national security officials “to discuss Iranian plans to imminently launch a significant ballistic missile attack against Israel,” according to White House spokesperson Emilie Simons.

Simons added, “They reviewed the status of US preparations to help Israel defend against attacks and protect US personnel.”

After a year of heightened tensions between Israel and Iran’s proxies in the region — including Hamas in Gaza, Hezbollah in Lebanon and the Houthis in Yemen — an attack by Iran toward Israel could further tip

the region toward full-scale conflict.

US and Arab diplomats are already concerned about what might happen after Iran’s expected attack, including the scale of Israel’s response. One major concern on their mind is Israel possibly using a forthcoming Iranian strike to respond by striking inside Iran.

“There is no place in Iran that the long arm of Israel cannot reach, and that’s true of the entire Middle East,” Israeli Prime Minister Netanyahu said during his speech at the United Nations last week.

The US was earlier prepared to do whatever it can to help Israel intercept anything Iran directed its way, similar to how the US offered its assistance in April, when Iran launched a wave of drones and missiles towards Israel — the vast majority of which were successfully intercepted, a US official said.

Hagari said in a statement that the IDF intercepted “many” of the missiles, although he did not elaborate on exact numbers.

“There are a few impacts in the centre and some more in the south.

At this stage, we are assessing the situation. We are not aware of injuries,” he said.

The US had anticipated that the attack from Iran against Israel could

be similar in scope and scale to the one in April, a US official told CNN. Tensions between Israel and Iran have ratcheted up significantly in recent weeks as Israel has stepped up its efforts against Hezbollah, an Iran-backed militant group, and Israel on Monday launched a ground operation in southern Lebanon.

Netanyahu asked Israelis to “stand together” and keep following the frontline commands as fears of an imminent attack from Iran grow.

Netanyahu said Israel was in the throes of a “campaign against Iran’s axis of evil” and made specific demands from the Israeli public.

“What I ask of you is two things: One - to strictly obey the directives of the frontline command, it saves lives. And second - to stand together,” Netanyahu said in a statement.

After the attack subsided, the Israeli Prime Minister said Iran "made a big mistake tonight, and will pay for it".

Speaking at the opening of a cabinet meeting, the Israeli PM said Iran "does not understand" his country's "determination to retaliate" against its enemies.

"They will understand," he said. "We will stand by the rule we established: whoever attacks us - we will attack," he reiterated.

Tinubu Leads Shettima, Others in Magnificent 64th Independence Anniversary Guards Parade the capacity to take the country to where it ought to be.

“I appeal to them to be patient with the Renewed Hope Administration and that all the reforms are beginning to show signs of positive turnaround.

Though things may be slow now, but with a little more patience the country is going to witness a turnaround as the National Bureau of Statistics (NBS) figures already show,” he noted.

Meanwhile, the proposed independence day protests held in many parts of the, while it was frustrated in others. Reports from across the country showed the frustration by a majority of the people.

ActionAid Nigeria ActionAid Nigeria described President Bola Tinubu’s Independence Day speech as echoes past promises and reforms that remain unfulfilled.

It stated that, “Despite the administration’s claims of economic progress, the reality is a worsening crisis for millions of Nigerians who cannot afford basic necessities.”

The NGO, in a statement by its Country Director, Andrew Mamedu, lamented that fuel subsidy removal, increasing cost of electricity, mounting inflation, heightened insecurity, inflation, and rising food prices had driven the poor into deeper poverty while unemployment soar.

The statement decried that the President’s reforms had only worsened the economic and social crisis, creating ripple effects that have deepened poverty and inequality.

Civil Society Legislative Advocacy Centre The Civil Society Legislative Advocacy Centre (CISLAC), has urged President Bola Tinubu to show greater commitment in addressing Nigeria’s socio-economic and political challenges.

The advocacy group also emphasised the need for genuine dialogue and decisive action as the nation marks its 64th Independence Anniversary.

A statement by the Executive Director of CISLAC, Auwal Musa Rafsanjani, expressed concern over the unfulfilled promises made by the president for meaningful dialogue, particularly regarding his pledge for comprehensive engagement with Nigerians, including the youth.

He noted that despite these assurances, no framework has been established for such dialogue, nor has a clear timeline been provided

for the discussions promised in his Independence Day speech.

National Youth Council of Nigeria The National Youth Council of Nigeria (NYCN) has said the country's natural resources had the potential to drive economic growth and improve the quality of life for all citizens if managed wisely.

To harness this potential effectively, the youth body said it was crucial that agencies influencing Nigerians, such as the Nigeria National Petroleum Company Limited (NNPCL) and the Niger Delta Development Commission (NDDC) were closely monitored by relevant authorities.

NYCN President, Sukubo SaraIgbe Sukubo, who stated this in his independence message to Nigerians, stressed that their oversight would ensure they fulfill their duties responsibly and without corruption.”

He stressed that the challenges facing the country were not impossible to overcome, adding that though they were closely knitted to the issues of leadership.

Government of Saudi Arabia The government of Saudi Arabia, has congratulated President Bola Tinubu on Nigeria Independence Day Celebration.

A statement by the Embassy of Kingdom of Saudi Arabia on Tuesday read: “The Custodian of Two Holy Mosques, His Royal Highness, King Salman bin Abdulaziz, and Crown Prince/Prime Minister of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz, extended the Kingdom’s heartfelt congratulations to President Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, on the occasion of Nigeria’s Independence Day. “In a formal cable, the King Salman and Prince conveyed their best wishes for the continued good health and happiness of President Tinubu. They also expressed their hopes for ongoing progress and prosperity for the Nigerian government and its people.

“The gesture further cements the diplomatic ties between Saudi Arabia and Nigeria, reflecting mutual respect and a shared vision for development.

“The Crown Prince's message shows the importance of fostering strong international relations and the commitment to supporting Nigeria's growth and success on the global stage.”

Kogi First Lady The Kogi State First Lady, Hajia Sefinat Ododo, has implored government at all levels to take necessary steps to protect women's right and support them to build a virile nation.

Mrs. Ododo, who made the call during a ceremony at the Government House Lokoja to mark Nigeria's 64th Independence anniversary, stated that women have continued to play pivotal role in shaping the society hence they must be protected from sexual and gender-based violence.

She restated Governor Ododo's commitment to tackling poverty, insecurity, access to healthcare and the menace of out of school children in the state.

According to her, various programmes have been initiated by her office to empower women and young girls in in last eight months.

The Northern Senators Northern senators, have urged Nigerians to continue to work together to build a better future, founded on the principles of tolerance, patriotism, and selfless leadership.

Chairman, Northern Senators Forum, Senator Abdulaziz Musa Yar’Adua said the 64th Independence Day, was a momentous occasion that called for reflection, gratitude, and renewed commitment to the country.

“As we mark this significant milestone, let us remember the sacrifices of our founding fathers, who fought tirelessly for our freedom and independence. Their legacy inspires us to strive for a united, prosperous, and harmonious Nigeria, where every citizen can live with dignity and pride.

“Let us acknowledge the progress we've made so far, while also recognizing the challenges that still lie ahead. We've made significant strides in sustaining democracy since 1999, a testament to our resilience and determination.”

Also, the Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has expressed concerns over Nigeria’s current economic hardship and the discontent simmering across the nation.

Akpoti-Uduaghan, in a statement in Abuja, highlighted the power of protests as a means for Nigerians to express their frustrations amidst the nation’s struggles, saying the country was standing at a crucial junction.

She emphasised that the current socio-political environment, characterised by a steep rise in the cost of living, ongoing protests, and

electoral systems hijacked by vested interests, was setting the stage for a significant transformation.

The senator, who said the severe economic pressures had worsened the lives of average Nigerians, lamented how inflation, coupled with stagnant wages, which have eroded purchasing power, making it increasingly difficult for citizens to afford basic commodities.

Katsina State It was a beehive of social and commercial activities on Tuesday in Katsina, the Katsina state capital as residents of the state shunned the October 1 nationwide protest.

The protest, christened: “FearlessInOctober”, was propagated on social media, some months after the August #EndBadGovernance protests.

But THISDAY, which monitored the situation in the state, observed that many residents were seen busy tending their commercial and private activities unfettered.

Markets, Motor Parks, supermarkets and other economic activities within and outside the shores of the ancient city were going on unhindered, oblivious of the proposed protest.

Ondo State Residents of Ondo State stormed the streets to expressed their displeasure on the current economic hardship ravaging the country under the present administration of President Bola Tinubu government.

The residents, who were joined by human rights activists under the aegis of the #RevolutionNow, trooped out to the roads in protest to demand immediate action over the high cost of foodstuffs and inflation amid growing frustration on the price of petrol nationwide.

The protest came despite warnings by the state police command against any demonstration on the streets with the celebration of October 1 Independence Day. Commissioner of police, Abayomi Oladipo, had earlier on Monday in a statement issued by the spokesperson for the command, Funmilayo Odunlami-Omisanya, asked residents not to join any protest in the state.

Ogun State Despite threat of protest by organisers of the October 1 protest tagged "FearlessInOctober protest", the protesters failed to show up in major towns in Ogun State.

Reports from major parts of Abeokuta, the state capital, Ijebu Ode,

Sagamu and Adoodo Ota, where the protesters were restricted to hold the rallies, indicated that the rally did not take place.

To avoid being kept napping, security men, were seen at strategic places in major party of the towns to nip in the bud any possible breakdown of law and order.

Ogun State Commissioner of Police, Abiodun Alamutu, said there has been no reports of any protest in any part of the state.

A High Court sitting in Abeokuta, Ogun State, had restricted members of the #FearlessInOctober protest groups in the state to the MKO Abiola Stadium in Abeokuta, Gateway International Stadium, Sagamu; Dipo Dina Stadium, Ijebu Ode, and Ansar-Ud-Deen Comprehensive High School, Ota.

Rivers State The continuation of the protest against hunger and hardship slated to hold nationwide, yesterday, could not thrive in Rivers State, as police and thugs dispersed protesters, who mounted the streets of Port Harcourt to express their grieves on what they described as bad governance in the country.

The protesters, who were youths started to gather near the Federal Secretariat and the Pleasure Park on Aba Road, the venues used during the August ten days protest.

THISDAY observed that the protest could not continue as the protesters met fierce opposition from policemen who arrived at the scene early.

The police, who were allegedly accompanied by youths suspected to be political thugs, chased the protesters away from their meeting point and took control of the area.

Niger State Nearly all parts of Niger State making were relatively peaceful yesterday. At about 10.30am people were seen in Minna, the state capital going about their normal businesses.

Shops and markets were also opened for business though some public institutions including the state and federal Secretariat's were closed as a result of the public holiday declared by the government to mark the nations 64th independence day anniversary.

Commercial vehicles were seen plying the major roads in Minna while inter state transport service was not aborted. In Suleja which was the hub of the last protest, everywhere was

quiet with the IBB market opened to customers.

The same situation was reported in Bida and Kontagora two other major towns in the state. However, the Police deployed it's men to strategic places across the state to ward off any form of protest.

Edo State Coalition of Civil Society Organisations in Edo State, yesterday, demanded the restoration of fuel subsidy, improvement of security, revert to single legislature among others by the President Bola Tinubu administration.

The group which included African Network for Environment and Economic Justice (ANEEJ), Talakawa Republic, Take it Back Movement and Faculty of Peace Organization during a rally at the Nigerian Union of Journalists (NUJ), Edo State Council, Benin City, said the removal of fuel subsidy, insecurity and floating of the naira had made life very difficult for Nigerians.

Coordinator, Take it Back Movement, Edo State, Dr Lawal Haifz, said they were demanding that government should restore fuel subsidy, improve on security, so that farmers could access their farms.

Haifz also bemoaned the free fall of the naira and urged government to restore the hope of the common man.

Kwara State Residents of Kwara State, yesterday, faulted the broadcast of President Bola Ahmed Tinubu for failing to address the continue fuel increase in the country.

They lamented that, instead of addressing the issue, the president talked on issues that had no benefits to the common man on the streets.

Alhaja Nusirat Bello, said, "It seems President Tinubu didn't know what we are facing in the country nowadays due to increase in the prices of fuel.”

Another resident, Pastor Jacob Ibirongbe, said that, "Most of our wards are trekking long distance to their schools and we are saying that we are having democratic leadership.”

A trader at Ipata market, Mrs. Yinyinola Samuel said, "I don't know when we will enjoy the dividends of democracy again. Democracy is a government of people and for the people yet see what we are passing through now?"

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politics

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

Oyo: Makinde’s New Found Political Alliance with Ladoja

Kemi Olaitan chronicles the role played by former governor of Oyo State, Oba Rasheed Ladoja, in the political trajectory of Governor Seyi Makinde for him to have publicly acknowledge the traditional ruler.

Makinde

T

hat Oyo State governor, Seyi Makinde and former governor of the state, Oba Rasheed Ladoja, were once political buddies was not in doubt as the Otun Olubadan of Ibadanland was Special Guest in virtually all the activities of the state government including the annual Ramadan lecture organised by the governor between 2019 and early 2022.

However the relationship was to turn sour towards the race for the 2023 general elections with none of the two political gladiators telling the people of the pace setter state what went wrong among them.

Indeed the relationship became that of a cat and mouse with the two of them rarely present together in any occasion in the state and tension high that Makinde was working behind the scene to scuttle the journey of Ladoja to become the Olubadan over his initial refusal to wear the crown like other members of the Olubadan-in-Council.

While about two months ago Makinde paid a visit to the Ondo Street, Bodija, Ibadan residence of the Otun Olubadan signalling that they are back together, however the governor last Wednesday surprised all when he publicly acknowledged the role of Ladoja in his political journey.

Makinde speaking at the low key 80th birthday celebration of Ladoja held at his residence, said his political trajectory cannot be complete without the former governor just as he added that the people of Oyo State will continue to look up to the wisdom, experience and leadership of the Otun Olubadan of Ibadanland.

The governor recalled that it was Ladoja who midwifed the process that led to his emergence as governor in 2019, maintaining that contrary to speculations that he had issues with the former governor, he never had differences with the man he described as his political leader who played an important role in his political history.

His words, “My political trajectory cannot be complete without mentioning his name.

Daddy was the one who midwifed the process that led to my emergence as governor in 2019.

He played critical roles. We may have some political differences. When I became governor in 2019, you were the one that midwifed the process.

Ladoja “Wherever I have offended you, I have begged you. Today is a special day for one of the leading lights in Ibadanland. So, we thank God. A lot of people may not know this, but I feel that whenever I have the opportunity, I will say it openly. You still have a lot of roles to play, sir. So, we will continue to look forward to your leadership.”

For political observers in Oyo state, Makinde was saying nothing but the obvious as Ladoja was the arrowhead of the coalition that led to his emergence as the governor of the state in 2019. Indeed, Ladoja played host to the meeting where Makinde was adopted as the candidate to face the gubernatorial candidate of the ruling party in the state then, the All Progressives Congress (APC), Chief Adebayo Adelabu, now the Minister of Power.

The coalition led by Ladoja and included the gubernatorial candidates of the African Democratic Congress (ADC), Senator Olufemi Lanlehin; the Zenith Labour Party (ZLP), Chief Sharafadeen Alli; the Social Democratic Party (SDP), Chief Bolaji Ayorinde, and the New Progressive Movement (NPM), Col. Edward Ladoye (rtd), few days to the gubernatorial election in March 2019, said they were on a rescue mission to salvage the state from alleged misrule of the APC, stating that there was need to instal a new government in the state.

The gubernatorial candidates who addressed journalists at the Nigeria Union of Journalists (NUJ), Press Centre, Iyaganku, Ibadan, all stepped down for Makinde who was the gubernatorial candidate of the PDP as their consensus candidate for the election.

Lanlehin who read a prepared text on behalf of other candidates, said the idea of the coalition was to restore the pride, progress and prosperity of the state.

According to him, “It is a statement of fact that the people of Oyo state have been subjected to maladministration for the past eight years.

We are respective governorship candidates of our individual political parties.

“We officially agree and wholeheartedly accept the coalition of the opposition parties. In equal measure, we endorse Mr Seyi Makinde as sole candidate of the coalition.Though, it is a difficult decision considering our contributions to our various ambitions in our various parties.

No sacrifice is too much for the liberation of our state and the emancipation of our people.

This vision is in the interest of the people.”

Makinde while accepting his endorsement, assured not to betray the intention of the coalition.

He said: “History is actually being made here today. This is the political capital of Nigeria, not only South west. We have gathered to rescue our people with a common purpose.

It’s been a very hard period to negotiate this arrangement.

“I promise that the intent of our coming together will be fully implemented when I become governor. I am humbled, because all

With Makinde for the first time publicly acknowledging the role played by Ladoja in whatever he has been able to achieve in politics, analysts are expressing fear that the present romance may not last long with the 2027 general elections around the corner and given the penchant of Makinde saying he has no political godfather and what has befallen members of the coalition including Senators Lanlehin and Alli.

these gentlemen that stepped down for me, are more qualified. As our people go out to vote on Saturday, two things are to be noted.

“Two Saturdays ago, the people of Oyo south rejected Governor Abiola Ajimobi. The entire people of Oyo should also reject him, because Bayo Adelabu is the third term agenda of Ajimobi. I thank you all, especially my father Osi Olubadan, Senator Rashidi Ladoja who made this a reality.”

Ladoja as the leader of the coalition later presented Makinde to the gathering just as other candidates joined him in raising his hand.

At the end of the gubernatorial election held on March 9, 2019, Makinde emerged the winner polling 515,621 votes to defeat Adelabu of the APC who polled 357,982 votes and was subsequently sworn in as the 28th executive governor of the state on May 29, 2019.

For political analysts in the pace setter state, Makinde owes his success in politics to the Otun Olubadan as he did not win any election until 2019 when the coalition led by Ladoja backed him. Indeed his political history would attest to this as he started by contesting for the Oyo South Senatorial seat in 2007 under the platform of the All Nigeria Peoples Party (ANPP) but lost to the candidate of the PDP, Kamoru Adedibu.

But remaining undeterred by his first failed attempt, Makinde under the PDP aspired for the Oyo South 2011 Senatorial seat but lost the primary. Similarly, in 2014, he aimed for the state 2015 governorship ticket under the platform of the PDP but was denied the nomination ticket at the end of the party’s primary election.

Makinde however, remained true to his ambition and defected to the Social Democratic Party (SDP), under which platform he contested as the gubernatorial candidate but came out third having polled just over 50,000 votes.

With Makinde for the first time publicly acknowledging the role played by Ladoja in whatever he has been able to achieve in politics, analysts are expressing fear that the present romance may not last long with the 2027 general elections around the corner and given the penchant of Makinde saying he has no political godfather and what has befallen members of the coalition including Senators Lanlehin and Alli.

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Property & environment

Evolving Office Buildings Challenge Local Developers on Standards, Technology

Bennett Oghifo

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n interesting culture of excellence in the design and rendition of office buildings is trending in some countries in Africa.

This goes beyond their economic and financial significance, as they challenge local developers to raise their standards and compete globally, driving innovation in the architectural and construction industries.

The attention to detail in these buildings, from material selection to technology integration, reflects a commitment to creating spaces that are not only functional but also inspiring.

Today, Africa’s skylines feature office buildings that rival those in any major global city. These structures are meticulously designed to inspire creativity, foster collaboration, and promote sustainability.

As Africa urbanised in the 20th century, its architectural landscape transformed, driven by economic growth and increased global interactions.

Africa is undergoing an architectural renaissance that is reshaping the continent’s urban landscapes and redefining the workplace. This new era is marked by the rise of world-class office buildings that serve not only as physical spaces but also as symbols of progress, innovation, and Africa’s burgeoning potential on the global stage. These structures are pivotal

in driving economic growth, attracting international investment, and fostering a culture of excellence across the continent.

These buildings serve as hubs of innovation and investment, where global companies can establish a presence in Africa’s rapidly growing markets.

According to a report by the African Development Bank, Africa’s urban population is expected to reach 1.4 billion by 2040, making it the fastest urbanising continent in the world. This rapid growth creates a demand for new, high-quality office spaces.

Thus, As Africa continues to grow and evolve, the demand for world-class office buildings will rise, driven by the continent’s expanding economy, increasing urbanisation, and the need for sustainable development.

Developers like Tengen Properties Limited will continue to play a crucial role in this transformation, setting new benchmarks for architectural and financial excellence.

The rise of world-class office buildings in Africa is more than just a trend; it is a testament to the continent’s ambition and potential.

These structures are laying the foundation for a new era—one marked by timeless legacy, innovation, and

a commitment to excellence. As Africa continues its journey of transformation, buildings like The Pantheon will shape its future, driving economic growth and fostering a culture of excellence that will resonate for generations to come.

There are some of these elegant buildings in Nigeria, the latest of which is The Pantheon that is designed to offer more than just office space; it provides a holistic environment where businesses can thrive.

Its design prioritises the well-being of its occupants, with features such as Café THEO—a captivating oasis offering a unique blend of culinary delights and an inspiring atmosphere. These amenities are not just add-ons; they are integral to creating a workspace that enhances productivity and quality of life.

Built by Tengen Properties, The Pantheon is not only an architectural marvel but also a symbol of the company’s financial strength. “As a renowned partner in real estate development, Tengen has a proven track record of delivering projects that combine luxury with practicality,” an official of the company said. The Pantheon offers tailored office solutions that meet the unique needs of businesses while standing as a beacon of financial stability in the region.

The Pantheon is arguably West Africa’s most stunning and advanced commercial development, located in the heart of Lagos.

Valued at approximately $100 million, The Pantheon is more than just an office

building; it is a statement of financial and architectural prowess. It not only outperforms local alternatives but also competes on an international level in terms of quality, sustainability, and innovative features. The building epitomises architectural excellence, seamlessly blending form and function to create an environment that enhances both productivity and well-being.

The Pantheon stands out for its innovative design and state-of-the-art facilities, setting new standards in Africa’s real estate sector.

Its striking architectural design is a testament to the vision of its developers, who have crafted a space that is both aesthetically pleasing and functionally superior. Every aspect of the building, from its flexible office spaces to its world-class amenities, is designed to cater to the diverse needs of modern businesses.

This commitment to innovation is evident in the building’s emphasis on sustainability.

The Pantheon’s low energy credentials, superior connectivity, and ease of access make it a model of efficiency and a benchmark for future developments. These features are not just about reducing environmental impact; they are about creating spaces that are healthier, more comfortable, and more conducive to long-term productivity.

The economic impact of such developments is significant. World-class office buildings like The Pantheon attract international businesses, create jobs, and stimulate local economies.

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BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

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

08056356325

O c to b er

S & P INDEX

1 ,

S & P INDEX

2 0 2 4 EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,262.85/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT Tues., May 7, 2024

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

CBN Monetary Tightening Heightens Illiquidity as Banks Borrowed N7.82tn in September

Kayode Tokede Following the Central Bank of Nigeria (CBN) tightening measures in a bid to tame galloping inflation leading to illiquidity, banks needing cash for short-term obligation, borrowed N7.82 trillion from the CBN in September 2024.

This represents about 94 per cent increase from N4.04 trillion borrowed in August 2024 at interest rate of 31.75 per cent.

According to data released by the CBN, the N7.82 trillion borrowed

by Nigerian banks and merchant banks in September 2024 is the fifth highest amount this year.

THISDAY gathered that Nigerian banks and merchant banks between January and September 2024 have borrowed an estimated N86.47 trillion from CBN, representing about 384.7per cent from N17.8 trillion borrowed in 9 months of 2023.

Nigerian banks and merchant banks borrow from the CBN using Standing Lending Facility (SLF) and it is a line of short-term credit available for banks and merchant banks to draw on when they need to meet immediate short-term withdrawals from their customers.

Also, banks and merchant banks can also deposit free cash with the CBN via the Standing Deposit Facility (SDF).

When Monetary Policy Rate (MPR) was at 26.75 per cent, banks and merchant banks were borrowing from the CBN at 31.75 per cent as the asymmetric corridor around the MPR at +500/-100 basis points.

However, the Monetary Policy Committee (MPC) of the CBN towards the end of September 2024, voted to hike MPR to 27.25 per cent, making it an all-time high.

So far in 2024, the MPC members have voted to increase interest rate

from 18.75 per cent to 27.25 per cent amid effort to tackle inflation rate and unstable Naira at the foreign exchange market.

In a recent circular signed by the Director of the Financial Markets Department, CBN, Dr. Omolara Duke, the CBN allowed banks to borrow at a rate of 31.75 per cent when the MPR was at 26.75per cent.

Banks can access the SLF through the Scripless Securities Settlement System (S4) within the specified operating hours of 5:00 pm to 6:30 pm. Additionally, authorised dealers are permitted to access the Intraday Lending Facility (ILF) at no cost, provided it is repaid on the same day.

He stated: “The MPC adjusted the upper corridor of the standing facilities to 5.00 percent from 1.00 percent around the MPR, at its 296th meeting.

“Consequently, the suspension of the Standing Lending Facility (SLF)

is hereby lifted and Authorised Dealers should send their request for SLF through the Scripless Securities Settlement System (S4) within the operating hours of 5.00pm to 6.30pm.

“To this end, Authorised Dealers are permitted to access the SLF at 31.75 per cent; Permitted to access Intraday Lending Facility (ILF) to avoid system gridlock at no cost if repaid the same day; “The 5.00 per cent penalty (as stated in the S4 business rules) is retained, for participants that do not settle their ILF, which the system will convert to SLF at 36.75 per cent; “Collateral execution (the rediscounting of instruments pledged by participants at the penal rate by CBN) is reintroduced as stipulated in the approved repo guidelines.

“The circular takes immediate effect.”

Analysts have hinted that the increasing MPR has forced banks to sustain borrowing from CBN.

Speaking with THISDAY, on significant increase in bank and merchant banks borrowing from CBN, Vice President Highcap Securities, Mr. David Adnori, stated that, “The development points to lack of liquidity on the part of banks. Monetary policy has been tightening and this has led to low liquidity. It is cheaper for banks to borrow from the CBN. This development is not positive but negative.

He stated, “We cannot continue to tighten because it will not reflect on economic growth. I submit that as far as taming the current elevated inflation in Nigeria is concerned in view of its major non-monetary drivers, the fiscal side holds the ace.”

However, Nigerian banks and merchant banks deposit with CBN closed September 2024 at N3.96 trillion, about 51.2 per cent decline from N8.1 trillion reported in

August 2024.

The CBN had introduced a new interest rate structure that allows financial institutions to earn between 19 per cent and 25.75 per cent on deposits held with the apex bank.

The latest circular noted that commercial and merchant banks will now earn up to 25.75 per cent on deposits up to N3 billion.

Deposits exceeding N3 billion will attract a lower rate of 19 per cent.

Similarly, Payment Service Banks (PSBs) would receive 25.75 per cent interest on deposits up to N1.5 billion, while deposits above this threshold will also earn 19 per cent.

Adnori attributed the hike in SDF rate to CBN’s moves to mop-up excess liquidity in the financial sector amid tackling inflation rate.

The story continues online on www.thisdaylive.com

Foreign Reserves Sustain Momentum, Hit Two-year High of $38bn Nume Ekeghe Nigeria’s foreign reserves have hit $38.06 billion for the first time in nearly two years, marking a significant rebound in the country’s external finances as of September 27, 2024.

The last time Nigeria’s reserves reached this level was in October 7, 2022, following a period of financial turbulence driven by declining oil prices, FX shortages, and rising import costs. Since then, the reserves declined and hovered below $38 billion struggling to recover due to

various macroeconomic challenges.

The journey to $38 billion started earlier in 2024 when reserves dropped to a low of $32.7 billion in May. However, a combination of strategic reforms by the Central Bank of Nigeria (CBN) and a rise in global oil prices has since fuelled the recovery. By August 2024, reserves had crossed $36 billion and continued a steady climb through September.

From August 2024, reserves gained momentum, increasing by $1.7 billion within two months.

Notable daily gains were recorded, including a jump from $36.64 billion

on September 9, 2024, to $37.24 billion

by September 17, 2024. This steady build-up culminated in reserves reaching their current peak.

This resurgence comes amid renewed efforts by the CBN to stabilise the naira and manage inflationary pressures. With external reserves playing a key role in the central bank’s ability to intervene in currency markets, the rise in reserves signals improved capacity for Nigeria to manage its external obligations and boost investor confidence.

The peak of $38 billion reflects a blend of favourable global oil

“We recognised in the central bank that certain things were not happening and that there was a need for the central bank itself to see what it could do with respect to encouraging inflows into the system. And IMTOs was one of those sectors where we liberalised and encouraged the operators in that sector to open accounts, and we are normally dealing with them on a regular basis to ensure that that number begins to go up.

“Because we were at a loss when everybody went to the international forum, and people will talk about

how the Diasporas are all out there, they want to do all kinds of things in the economy, and why is it that we are not able to get that as a source of inflow for our economy and that we started that process of engagement. And I’m happy to say that it has paid off. Having said that we’re not going to rest on our laurels. We are going to continue, and they will have some very innovative products and ways of engaging that sector and we are pretty confident that if we continue in that trajectory, that figure will continue to go up.”

M a r k e t d ata A s at F r i d ay, S e p t e m b e r 2 7 , 2 0 2 4

BONDS

Description Price Yield Change Updated Time (%) ^13.53 23September 96.04 22.49 0.00 27, 2024 MAR-2025 September ^12.50 220.02 27, 92.31 19.33 2024 JAN-2026 ^21.00 20September 102.49 18.98 -0.01 MAR-2026 27, 2024 ^16.2884 17September 95.25 18.77 0.00 MAR-2027 27, 2024 ^19.94 20September 101.60 19.09 0.00 27, MAR-2027 2024

prices, remittances, and improved export earnings.

Commenting at the recently concluded Monetary Policy Committee meeting (MPC) on remittances which play a significant addition to the reserves, the Governor of CBN, Olayemi Cardoso said: “As at August, it was $585 million, now that is a big deal, and it’s over 130 per cent for the corresponding period last year. That is a big deal. And I want to just say to you that this didn’t drop from the ceiling. It didn’t it was a deliberate, calculated effort.

BILLS Maturity NTB 24-Oct24 NTB 7-Nov24 NTB 5-Dec24 NTB 23-Jan25 NTB 6-Feb25

Discount Yield

CPs

Change (%) Updated Time

18.45

18.57

September -0.01 27, 2024

18.40

18.79

September -0.01 27, 2024

21.00

21.87

September -0.01 27, 2024

20.75

22.06

September -0.01 27, 2024

22.21

September -0.01 27, 2024

20.56

Maturity AFRI CP II 21-OCT-24 FBNQ CP XXVII 25-OCT-24 UACN CP VIII 3-DEC-24 CTIL CP XIV 20-DEC-24 CPST CP X 14-FEB-25

Discount Yield 24.12

24.51

19.69

19.99

22.46

23.42

22.71

23.96

23.26

25.53

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

September -0.01 27, 2024 September -0.01 27, 2024 September 0.02 27, 2024 September 0.03 27, 2024 September 0.00 27, 2024

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS OCT 13M – 29 2025 NGUS NOV 14M – 26 2025 NGUS DEC 15M – 31 2025 NGUS JAN 16M – 28 2026 NGUS FEB 17M – 25 2026

Updated Time

September 27, 2024 September 27, 2024 September 27, 2024 September 27, 2024 September 27, 2024

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T H I S D AY • Wednesday, October 2, 2024

BUSINESSWORLD

News

L-R: Managing Director/Chief Executive Officer, FirstBank, Olusegun Alebiosu; Governor of Nasarawa State, H.E Abdullahi Sule and Group Head Marketing and Corporate Communications, FirstBank, Folake Ani-Mumuney during the Unstoppable Africa event of Global Africa Business Initiative (GABI), at UNGA in New York… recently

At 93%,Currency Outside Banks OutpaceTotal Circulation in Nigeria Nume Ekeghe Data from the Central Bank of Nigeria (CBN) has revealed that the total currency in circulation has reached N4.14 trillion, with N3.87 trillion of this amount currently outside the banking system. This indicates that 93.34 per cent of the nation’s currency is in the hands of individuals and businesses, while only 6.66 per cent remains within the banking sector.

This trend highlights a persistent challenge for Nigeria’s formal banking system. Despite efforts to drive financial inclusion and promote cashless transactions, a significant portion of the country’s money supply remains outside regulated channels.

The gap between currency

outside banks and the total currency in circulation suggests that Nigerians still heavily rely on cash for daily transactions, despite the rise of digital banking services.

Also, the CBN data revealed that currency in circulation in Nigeria has added N1.48 trillion or 55.8 per cent Year-on-Year (YoY) to N4.14 trillion in August 2024 from N2.66 trillion in August 2023.

The reported N4.14 trillion in August 2024, about 2.25 per cent or N91.08 billion increase from N4.05 trillion reported by the CBN in July 2024. A breakdown of currency in circulation showed that January 2024 began with the currency in circulation at N3.65 trillion.

This stable figure indicated a moderate start to the year, aligning with typical post-holiday

economic activities. By the end of February 2024, the currency in circulation slightly increased to N3.69 trillion, a growth of N43 billion or 1.18 per cent from January.

March 2024 saw a more pronounced increase, with the currency in circulation rising to N3.87 trillion, a month-on-month increase of N175 billion or 4.76 per cent.

The upward trend continued in April, with the currency in circulation reaching N3.92 trillion.

The N53 billion or 1.39 per cent increase from March 2024 suggests sustained economic activity and increased consumer spending during the Easter period.

May 2024 experienced a further increase to N3.97 trillion, up by N42 billion or 1.07 per

cent from April 2024, while the most notable rise occurred in June 2024, with the currency in circulation peaking at N4.04 trillion, an increase of N84 billion or 2.11 per cent from May 2024, while it reached N4.05 trillion in July 2024.

When Mr. Olayemi Cardoso resumed office as CBN governor in September 2023, currency in circulation was at N2.76 trillion.

Speaking about money supply at the recently concluded MPC meeting Cardoso said: “Over N4 trillion in July, I know from my internal sources that another N1.4 trillion is likely to be delivered in another three months to aid that whole process of cash within the system and cash velocity. From our perspective, I think we are doing everything possible to

World Heart Day: Golden Terra Oil Promotes Heartful Choices

In commemoration of this year’s World Heart Day, Golden Terra Soya Oil has launched its ‘Heartful Choice’ campaign, reinforcing its commitment to promoting heart health and empowering Nigerians to take cardiovascular health seriously. The theme of this year’s World Heart Day, Use Heart for Action, aligns with Golden Terra Oil’s mission to educate consumers on making informed, heart-conscious choices.

As a leading brand in healthy cooking oils, Golden Terra Soya

Oil has partnered with various cardiologists, nutritionists, & health experts to spearhead a series of awareness initiatives. Through impactful live sessions, social media campaigns, and educational content more light is being shed on heart-healthy habits in reducing cardiovascular risks.

A key aspect of the campaign is consumer education on the importance of Polyunsaturated Fatty Acids (PUFA), found in Golden Terra Soya Oil, which help lower cholesterol levels and

reduce the risk of heart disease.

Consumers are encouraged to read food labels more carefully, understanding the difference between unhealthy saturated fats and heart-friendly alternatives like PUFA. The Polyunsaturated Fatty Acids (PUFA) in Golden Terra Oil help reduce the risk of heart disease by maintaining healthy cholesterol levels and promoting overall cardiovascular well-being.

Chief Marketing Officer, TGI Group, Probal Bhattacharya, reaffirmed the brand’s longstanding

commitment to heart health.

“Golden Terra Oil believes that every meal is an opportunity to nourish your heart. By educating consumers about the benefits of PUFAs and promoting a culture of conscious eating, Golden Terra believes in empowering Nigerians to make heart-healthy choices and thereby prioritize their cardiovascular well-being. World Heart Day is a reminder that small heartful choices in our daily habits can have a significant impact on our health,” he said.

BoI, Parthian Highlight Key Drivers for Nigeria’s $1tn Economy Ambition Nume Ekeghe As Nigeria positions itself to become a $1 trillion economy by 2026, leaders from the Bank of Industry (BoI) and Parthian Partners have stressed the importance of increasing domestic production and successfully recapitalising the banking sector to ensure sustained growth.

Speaking at the 2024 annual conference of the Finance Correspondents Association of Nigeria (FICAN) in Lagos, Isa Omagu, Divisional Head of Services

at BoI, underscored that a boost in production capacity is essential to meet the country’s economic goals.

“To reach a $1 trillion economy, we must focus on boosting production capacity,” Omagu declared, highlighting agriculture, infrastructure, and services as critical sectors needing investment. He pointed out that continued reliance on imports not only hinders Nigeria’s progress but also exacerbates pressure on foreign exchange reserves.

“The economy relies on both monetary and fiscal policies, which must work in tandem.

While monetary authorities focus on stabilising prices, fiscal governance must play an active role,” he added, emphasising the need for coordinated policy efforts,” he said.

Speaking, Chief Finance Officer of Parthian Partners, Mr. Olayinka Arewa, expressed optimism regarding Nigeria’s ongoing banking recapitalization efforts. This exercise, mandated by the Central Bank of Nigeria (CBN), aims to fortify financial institutions to support the country’s ambitious economic aspirations.

“We are very optimistic about

the successful outcome of the recapitalisation exercise,” Arewa remarked, likening the current reforms to the transformative banking consolidation of 2004, which reshaped the financial landscape and positioned Nigerian banks to compete globally.

“Back then, the minimum capital requirement was $250 million.

Today, we’re looking at $300 million, factoring in exchange rates.

The banking sector has matured significantly since then, and this new exercise will be equally transformative,” he added.

ensure that there’s sufficient cash in the system, that’s that side of them, and there’s no excuse

for not having sufficient cash in the system. Now it goes to the deployment of that cash.”

Oyefeso: FirstBank Spurring Job Creation in Nigeria’s Creative Sector Nume Ekeghe and Oluchi Chibuzor Executive Director, Retail Banking South Directorate at FirstBank, Oluseyi Oyefeso, has reiterated that FirstBank is committed to fostering job creation, promoting the arts, preserving cultural heritage, and providing a platform for creative expression through its First@arts initiative.

Speaking at the stage production of Kurunmi, a theatrical masterpiece that explores the rich history of the Oyo Kingdom, Oyefeso emphasised the bank’s continued dedication to supporting Nigeria’s creative industry.

“FirstBank, through its First@arts initiative, continues to enable giants to support SMEs and develop talents within Africa’s creative industry,” he stated, underscoring the bank’s role in nurturing talent and preserving the nation’s cultural legacy.

He encouraged stakeholders in the

creative sector to take full advantage of the opportunities provided by the First@arts programme, particularly its interest-free financial support for industry players.

“It’s about promoting job creation, developing the economy, and preserving our culture. All this is offered free of charge. FirstBank is here to support the creative industry and help it grow. As it grows, more people are employed, and we indirectly contribute to the growth of the Nigerian economy. That’s the ultimate goal,” Oyefeso said.

Producer of Kurunmi, Gboyega Akosile, expressed excitement about partnering with FirstBank to bring the classic to the stage.

“We are thrilled to collaborate with FirstBank to breathe new life into Kurunmi. Written by the legendary Ola Rotimi, this seminal work in African literature and theatre promises an unforgettable experience for audiences,” Akosile said.

Prudential Insurance Group Acquires 100% Stake in Prudential Zenith Life Ebere Nwoji

Global Insurance giant, Prudential Insurance Group plc has acquired 100 percent stake in Prudential Zenith Life Insurance Ltd (PZL) .

The group had since 2017 acquired 51 percent shares of the Nigerian Life underwriting firm owned by Zenith Bank plc.

Before now, PZL has been existing as bancassurance partnerships with Zenith Bank in Nigeria and Ghana.

Zenith Bank is a leading bank headquartered in Nigeria, with a network of over 400 branches and approximately 29 million customers across the region.

Prudential originally purchased a 51 percent stake in Zenith Life Insurance Limited in Nigeria in 2017, which benefited from an existing bancassurance partnership with Zenith Bank.

The group said consideration for this transaction would be payable in cash and includes a performancebased element.

Commenting on the deal, the Managing Director, Strategic Business Group, Prudential Solmaz Altin, said “We are delighted to take full ownership of the business and have the opportunity to better serve the needs of our customers and create long-term value for our shareholders.

Acquiring the remaining stake is consistent with our new strategy to build a sustainable multi-channel growth platform, through targeted investment in structural growth markets across Asia and Africa.

We see substantial long-term opportunities in Nigeria and plan to build on our existing agents,bancassurance partnerships and direct distribution capabilities.”

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T H I S D AY • WEDNESDAY, OCTOBER 02, 2024

NEWS

BOARD OF DIRECTORS OF ODU'A VISIT TO MR GOVERNOR...

L-R: Otunba Mrs Debola Osibogun, Group Independent Director, Odua Investment Company Limited; Otunba Bimbo Ashiru, Group Chairman; Gov Babajide Sanwo-Olu; His deputy, Dr Obafemi Hamzat; Mr Abdulrahman Yinusa, Group Managing Director, Odua; and Mrs Folusho Olaniyan, OON, Group Independent Director, Odua, during a visit of the Board of directors of Odu'a to His Excellency at the Governor’s Office, Ikeja, Lagos

Bauchi Senator in Trouble for Allegedly Sponsoring Bandit to Hajj Sunday Aborisade in Abuja The Department of State Service (DSS) is said to be investigating the Senator, representing Bauchi South Senatorial District, Shehu Buba, over his alleged link to a notorious bandit, Abubakar Idris.

A source in the state who disclosed this to THISDAY in Abuja yesterday, strictly on conditions of anonymity said a security report on the senator,

had been forwarded to President Bola Tinubu.

The security report, according the source, specifically alleged that the Bauchi South Senator through one of aides registered a notorious bandit, Abubakar Idris, as a Pilgrim to Saudi Arabia to perform this year's Hajj.

The development, he added, forced the DSS operatives to invade the Bauchi State Muslims Pilgrims Welfare Board during the 2024

Pilgrims Operations.

The source further explained that the personnel of the secret police demanded for the e-passports of Abubakar Idris and one Zainab Aliyu Gado who were both registered as intending pilgrims with the board.

Unfortunately, he noted, the E-passport of the said Zainab, according to the source had already been released and she had travelled out for the Hajj, while that of Idris

was released to the service.

He said Idris had since been arrested and detained by the DSS. Idris, according to the security source, was suspected of banditry and kidnapping activities in Zamfara State, and currently being detained by the DSS. He alleged that the two pilgrims were allegedly registered among others through one Yahaya Ibrahim, a Senior Legislative Aide to Senator

Umar.

The source described the development as worrisome and that it suggested the Senator's complicity in supporting, enabling and empowering bandits to cause mayhem and go unscathed.

He added that a thorough investigation into the matter was ongoing with a view to arresting and prosecuting of all those found to be involved.

Diri Promises 1,000 Housing Units in 8 LGAs, Tackles Water Supply Challenge Olusegun Samuel in Yenagoa

Governor Douye Diri of Bayelsa State has promised that his administration would construct no fewer than 1,000 affordable housing units across the eight local areas of the state.

Governor Diri also assured of provision of pipe-borne water in Yenagoa, the state capital, and environs

in his second term in office.

The Bayelsa helmsman stated this on Tuesday in a state broadcast to commemorate Nigeria’s 64th independence and 28 years of the state’s creation.

He said his administration was committed to building a new Bayelsa where every citizen had access to quality education, affordable healthcare

It's Rivers State’s Turn to Produce Next President General, Ohanaeze Insists Benjamin Nworie in Abakaliki

The apex Igbo Socio-Cultural Organisation, Ohanaeze Ndigbo, has zoned the office of the President General of the body to the Rivers State.

The organization therefore warned two South-east governors and other notable leaders from southwest and Niger Delta who were plotting to impose a candidate from Abia State.

In a statement issued by the Secretary General, Mazi Okechukwu Isiguzoro, the body noted that it was the constitutional right of Rivers State to produce the next President General during the forthcoming convention in January 2025.

According to them: "It is paramount to recognize that, as explicitly stipulated in our governing document, the constitutional right of Rivers State to produce the Office of the President General by the dates of January 10-11th, 2025, is both a duty and an honor that must be upheld with the utmost respect and integrity.

"The emergence of the President General from Rivers State through lawful and proper constitutional procedures is not merely a formal requirement; it is essential for fostering

unity among the Igbo people.

"Ohanaeze Ndigbo has been alarmed by the conspirational efforts of two Southeast governors, alongside a former military general who served as both a Head of State and President of Nigeria from the Southwest, a former 2023 presidential candidate from an opposition party, a notable chieftain of the Pan Niger Delta organization, and several other subversive elements.

"These actors are seemingly united in an effort to undermine the constitutional prerogative of Rivers State and usurp its rightful claim to the presidency of Ohanaeze Ndigbo, instead favoring an individual from Abia State".

The body insisted that it was increasingly apparent that the aforementioned Southeast governors and the 2023 presidential candidate were complicit in the subversive schemes, driven by political machinations and the calculations surrounding the upcoming 2027 elections.

Ohanaeze assured: "We will prioritize the constitutional rights of Rivers State to elect the next President General, resisting all external influences that seek to impose another candidate from Abia State in direct contravention of our established constitutional framework".

and to create economic opportunities to improve the general well-being of the people.

The governor who noted it was his first broadcast to the state since his inauguration for a second term, expressed gratitude to Bayelsans for overwhelmingly re-electing him and his deputy, Senator Lawrence Ewhrudjakpo.

He expressed the commitment to pursue development issues as well as address environmental challenges like soot pollution, flooding, and oil spillage that had plagued the state.

His words: “We are filled with renewed optimism and a steadfast commitment to building a new Bayelsa. A Bayelsa where every citizen has access to quality education, healthcare is affordable and reliable, economic opportunities abound, jobs are plentiful, businesses flourish

and communities are empowered to achieve financial security and well-being."

He stated that in the past four years, his administration had made significant strides, particularly in peace and security, sports, education, healthcare, road infrastructure, human capacity building, empowerment and skills acquisition.

"These are all a testament to the power of unity, cooperation, and a shared vision for development," he further stated, adding that in his second term, the administration continued to embark on key projects, which include building an iconic state secretariat to give Yenagoa a facelift as part of its urban renewal agenda.

In line with the vision to build a New Yenagoa City, Senator Diri said a number of projects, including the ongoing construction of the Glory Drive

Phase 3, new legislatures quarters, new commissioners’ quarters, affordable housing estates and a modern stadium were being executed.

According to the governor, "other signature projects include an independent power plant, provision of pipe-borne water within Yenagoa and environs, 1000 units of affordable housing across the eight local government areas as well as the construction of the Onuebum-Otuoke, Akaba-Okodi, Oxbow Lake-Agbura and the ToruEbeni-Okumbiri- Kabeama-Bolou-Orua roads.”

He saluted the efforts of past administrations in the state, noting that Bayelsa had come a long way since its creation on October 1, 1996 and that the sacrifices and aspirations of the state's founding fathers paved the way for development and progress of the state.

Repeated calls put across to the Senator were not responded to as of the time of filing this report. He had also, yet to reply the text message sent to him.

However, when contacted, Hassan Abdullahi, his Senior Legislative Aide, who was alleged to have perfected the registration of Idris at the Bauchi Pilgrim Welfare Board office, denied any involvement in the entire saga.

Abdullahi also denied knowing Idris or had anything to do with any criminal in the state.

He said: “I am not working at the Bauchi Pilgrim Welfare Board office and I wouldn't have ensured the registration of any pilgrim there.

“I don't know the said Idris or anyone involved in criminal activities in Bauchi State. Whoever links me with any criminal is a liar.”

The Senator, a chieftain of the All Progressive Congress (APC) is currently serving his first term in the 10th National Assembly.

He was Special Assistant and Senior Special Assistant at different times and in different offices to former Governor Isa Yuguda.

The Senator, who is the Chairman, Senate Committee on National Security and Intelligence, was also a Special Adviser to former Vice President Abubakar Atiku.

He is known for impacting positively on the wellbeing of his constituency through the provision of skills acquisition and empowerment for youth and women.

He is also reputed to have been providing infrastructure, reducing poverty, providing social amenities, and palliatives to cushion the effects of petrol subsidy removal.

Botswana Ready to Learn Nigerian Entrepreneurial Resilience, Spirit, Says Envoy Michael Olugbode in Abuja The Botswana High Commissioner to Nigeria, Miss Philda Nani Kereng has sought improved bilateral relations with Nigeria, stating that her country is ready to learn from Nigeria.

Kereng who spoke on Monday night in Abuja on the occasion of her country's 58 Independence anniversary, said she would be working towards ensuring active projects between both countries.

The envoy said her people want to learn the entrepreneurial resilience and spirit that makes Nigerians excel wherever they find themselves.

She said: "Nigeria for us, is a very, very critical partner. We have had relationship with Nigeria for a long

time, but this time we want active projects, tangible projects, tangible business collaborations that will see our people trading together, that will see our government trading together, that will see us joining together to lead the rising of the African continent because of the strength that both countries have."

The envoy said Botswana has special regards for Nigeria, saying "This is a country where we have seen a lot of progress in terms of enterprise, trade, the spirit of enterprise of Nigerians. These people, when they want to do business, they go all out. They hit all milestones and they go against every odd so that they can achieve their intentions.

"We have seen and learned from

Nigerians that the mindset of business is something that Botswana wants to learn from. Our people, the government does so much to support small enterprises, micro enterprises, businesses, young people, women and so forth.

"But we want to connect more so that we can learn from you how you do this business; how you venture out in the global space, technology application in trade markets and venturing out into the globe.

"We are also looking up at Nigerian creative sector that is so vibrant. We have talented young people who are not working, but they want to be developed so that they can enter the film industry, fashion industry, food industry, culinary arts, acting,

arts, music and everything because Nigeria lives in that space".

The envoy, who is just four months in Nigeria, said her major task in Nigeria is to foster better trade and business relations between both countries.

According to her: "I'm here to make those connections. And as I celebrate, I know I'm celebrating some milestones because I have already started talking with critical stakeholders. Last week on Monday, we had a business breakfast meeting with the stakeholders in business, giving them information about Botswana investment opportunities.

And together we joined one spirit to say we can work together as the two countries.

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WEDNESDAY, OCTOBER 02, 2024 • T H I S D AY

NEWS

Celebration of World Maritime Day 2024...

L-R: President, Nigeria Chamber of Shipping, Alhaji Aminu Umar; Director General, NIMASA, Dr. Dayo Mobereola and Permanent Secretary, Ministry of Marine and Blue Economy, Mr. Oloruntola Olufemi Photo: Abiodun Ajala during the celebration of World Maritime Day 2024 in Lagos...recently.

Hardship on Campuses Getting Unbearable, ASUU Tells Tinubu

Kemi Olaitan in Ibadan

The Academic Staff Union of Universities (ASUU), yesterday, raised an alarm stating that the hardship been faced by public university workers is getting unbearable.

The Chairman, University of Ibadan chapter of the union, Prof. Ayoola Akinwole, said this in a release to mark the 64th independence anniversary of the country, entitled, "Nigeria at 64: A State in Need of Deliverance from The Leadership of Perpetual Have-Nots” He said the union has been very understanding by issuing ultimatum to government while the federal government has been lackadaisical to it, stating that another 14-day ultimatum is about to end within which government should meet the demands of the union to preserve the relative peace on public university campuses in the country.

According to him, “Many (lecturers) ran away to other countries; many died as a result of financial debility; those who cannot run away got into debt just to survive while many resigned to take another job in the private sector.

“In the sixty-four years of the Nigeria’s independent existence, education and the state of the nation are both in downward spiral, owing to the dwindling fortunes in the quality of politicians steering the ship of the country’s government.

"Political leaders and holders of executive positions be it at local government, states and Federal levels, whose answers to any request from

workers especially in the education sector (and the Nigerian citizens) has always been “government has not the resources to meet the demands of the unions."

While noting that problems of the country are due to the major neglect of its educational sector, Akinwole maintained that without the necessary tools, improved welfare package for the lecturers and a conducive work environment, the university system will not be able to deliver on her mandates.

The ASUU Chairman admonished President Bola Tinubu to desist from singing the unpleasant and baseless “have-nots” song but brace up to resolve the outstanding issues pertaining to university education as raised by ASUU, inject funds into the education sector for revitalization, improve the remuneration of academics, and address the economic crisis in the country.

He warned that if the trend of hardships facing Nigerians is not halted it will culminate into multidimensional insecurity, adding that it is “more worrisome that amidst these economic woes of the people, the government is channeling its expenditure to areas like purchasing new presidential jet and presidential Cadillac Escalade."

He stated: “The quality of lives of the ordinary Nigerians has precipitously declined, and the gap between the haves and the have-nots is daily expanding; the rich continue to get stupendously richer while the poor are absolutely getting poorer.

“The so-called middle class has

since been wiped off by the increasing weight of dependents in a society that prioritizes “palliatives” over and above the empowerment of the poor. So, while the masses suffocate from the adverse consequences of the neoliberal socio-economic policies

A governorship aspirant of Labour Party (LP) in Anambra State, for next year's governorship contest, Mr. John Nwosu, has declared that the governor of Anambra State, Prof.

Chukwuma Soludo, has failed in governance.

Nwosu in a message he posted on his verified X handle said a lot of indices, including failure in governance, insecurity and the recently conducted local government election have shown that Soludo is not worth a second term.

He called on Anambra people to vote him out as he has failed to meet any of his promises.

Nwosu said: "We recall Soludo

said in 2017 that Anambra was not broken and did not need fixing (in support of his predecessor, Willie Obiano).

"Recently, he had claimed that he was bequeathed billions of Naira in pension debts. Did it take him four years to find that out, or is he now confirming that Anambra he inherited from Gov. Willie Obiano was badly broken?

"So far, his political campaign and leadership promises and commitments have fallen short of expectation. The LG elections was a sham, statutorily manipulated and failed every test of credibility, transparency and inclusivity.

"The elections deserves close scrutiny for what it represents for

well or sleep well, and the pervasive poverty will have entrenched a multidimensional insecurity with the associated consequences.

“While the Nigerian masses are in multi-dimensional poverty government spent billions on cars for Senators and

House of Representative members, awarding white elephant projects, a fraction of these questionable spending will solve most of the problems of the education sector and lay the foundation for Nigeria’s economic growth.”

HURIWA Slams Tinubu’s National Youth Conference as Charade, Calls it Distraction from Real Issues Chuks Okocha in Abuja

The Human Rights Writers Association of Nigeria (HURIWA) has criticized President Bola Tinubu’s announced 30-day National Youth Conference, labeling it a wasteful and ineffective exercise designed to deflect attention from the government’s failures.

In a statement issued by the body’s national coordinator Emmanuel Onwubiko, HURIWA condemned the conference as a superficial attempt to engage with the youth while ignoring the pressing issues confronting Nigeria’s young population.

HURIWA argued that the proposed conference, announced during President Tinubu’s Independence Day address, is a futile gambit aimed at projecting an image of youth inclusion when in reality, the government has failed to tackle the critical issues hindering the progress of Nigerian youths.

The association referred to the conference as “forum shopping,”

Nwosu: Soludo has Failed, Anambra Must Deny Him Second Term

David-Chyddy Eleke in Awka

of the government, members of the ruling class revel in questionable wealth that makes nonsense of the anti-corruption crusade.

"If the trend is not arrested, part of the imploding consequences will be that Nigerians can no longer eat

Anambra State. It calls into question, if the incumbent governor, Prof.

Charles Soludo is a true democrat and one who keeps his promises to our people.

"He then promised in 2021 that on his watch, Anambra will become Dubai. Soludo has had four years to acquit himself as a transformative leader; but he has failed woefully. It behoves Anambra people to deny him a second term."

Speaking on security, Nwosu further added that Soludo has failed in his responsibility to protect Anambra citizens.

He said Anambra people cannot in good conscience give him another four years as he may end up destroying the state.

intended to mask the government's shortcomings.

According to HURIWA, “This so-called National Youth Conference is nothing more than a cash-guzzling charade, destined to achieve little to no meaningful outcomes.”

HURIWA stated: "Rather than organizing another talk shop, the government should focus on addressing the urgent challenges that directly impact the lives of Nigerian youths, such as poor infrastructure, economic stagnation, and high unemployment."

The organization highlighted the deteriorating state of infrastructure across the country, noting that the lack of development stifles creativity, innovation, and economic advancement for young people.

HURIWA also pointed out that

these conditions have led to a surge in irregular migration, as many young Nigerians seek opportunities abroad.

However, HURIWA dismissed these promises as hollow.

The group argued that similar initiatives in the past, including various national conferences, had failed to produce tangible results or lasting change.

“History has shown that such conferences are nothing but wasted efforts, absorbing vast amounts of public funds without delivering real solutions. This youth conference will be no different,” the group emphasized.

HURIWA strongly criticized the government for its handling of the economy, noting that young Nigerians are disproportionately affected by

the economic downturn.

The association pointed to the depreciation of the Naira as one of the major issues exacerbating unemployment and poverty.

It highlighted that according to the National Bureau of Statistics, over 133 million Nigerians now live in multidimensional poverty - a figure that includes a significant number of youths.

"The youths are among the hardest hit by the Naira’s depreciation, a direct result of the administration's poor economic policies. This has led to widespread unemployment and deepened poverty levels, yet the government is choosing to distract the youth with an empty conference instead of addressing these issues head-on,” HURIWA stated.

Gov Fubara Assures Level Playing Field in Rivers LG Elections Blessing Ibunge in Port Harcourt

Governor Siminalayi Fubara of Rivers State has assured level playing field for all political parties participating in the October 5, 2024 Local Government polls, stressing that the election will be another opportunity for Rivers people to witness the rebirth of a new structure that they can own.

This is as a political pressure group; Simplicity Movement, has stated that it is solidly behind Governor Fubara and would mobilise support for him to succeed.

The governor made the assertion when the leaders and members of the Simplicity Movement, led by Sobomabo Jackrich paid him a courtesy at the gates of Government House in Port Harcourt.

Governor Fubara, who received the group himself, said he hardly comes out to receive people on solidarity visit to him but had to personally receive this group in order to show respect to the leadership

of group.

He explained that the group and its leadership are people who have on their volition decided to gather together, and publicly declare their support to his administration.

He said: "You know at this time people are paying people money but we don't do it. People come out on their own to show support to us.

Knowing the calibre of the founder of this group, knowing the role he has played with other people, and him choosing to be part of the success of our administration, I said I was going to honour him by coming to address you."

Governor Fubara commended the group for their decision to identify with his administration, and enjoined them to remain firm in their commitment as they synergise efforts at defending and protecting the interest of Rivers State at all times.

According to the governor: "We must defend the dignity of our State. We must ensure that

the commonwealth of this state belongs to everyone. That is why our slogan is 'Rivers First'. Because we believe that if we take Rivers first, there won't be crime. If we take Rivers first, there won't be hunger.

If we take Rivers first, there will be employment."

He told the group that the journey of liberating the state had begun, adding that the forthcoming Local Government Election will be another opportunity for Rivers people to witness the rebirth of truly new (political) structure.

Governor Fubara urged them to freely participate in the election since it will be a very important ingredient that will help his administration to chart the second phase of the struggle.

Governor Fubara pointed to the need for them to continue to maintain the peace that he had always preached all the time, stressing that anyone who loves the state will understand the importance of maintaining peace.

75

T H I S D AY • WEDNESDAY, OCTOBER 02, 2024

NEWS

A HEARTWARMING REUNION...

Front row from left to right: Matthew Abikoye, Yemisi Asaju-Oyebo, Hussein Yakubu, Kike Oladimeji (Bankole), Bayo Ilori, Khadijat Olanipekun (Binuyo), Sheni Ibiwoye (SAN) and Victor Olusola. Back role from left to right: Wahab Kunle Shittu (SAN), Kayode Ogungbemi (PHD) Kemi Ipaye (Ojo), Kunle Olaoye, Adeleye Ayoko, Bayo Alabidun, Wale Banmore (PHD) and Tunde Olorunnishola, at the reunion event of the 1981 to 1983 set of the School of Basic Studies, Kwara State Polytechnic, formerly Kwara State College of Technology, Ilorin, Kwara State, in Lagos... recently

Atiku Writes National Assembly, Seeks Six-Year Term Rotational Presidency Chuks Okocha in Abuja As part of his of recommendation to constitutional amendments, former Vice-President Atiku Abubakar, has written to the National Assembly, requesting an alteration to the

constitution to allow for a six-year single term for the president and governors.

In a memorandum to the Senate Committee on Constitutional Review, Atiku also proposed that the presidency be rotated between

the North and South.

Atiku had earlier during the period he was deputy to former President Olusegun Obasanjo, advocated a six-year single term for the presidential office.

Following the 2023 general elec-

tion, he has continued to support this tenure proposal.

According to Atiku, “The office of the President shall rotate among the six geopolitical zones of the federation on a single term of six years, flowing between the North

and South on the single term of six years respectively.”

Atiku, therefore, urged the National Assembly to “amend Section 135(2) to read: ‘Subject to the provisions of subsection (1), the President shall vacate his office

THISDAY’s Nwabogor, Ezeobi, Arise’s Mairo-Ese Make 25 Most Powerful Women in Journalism Sunday Ehigiator

The THISDAY Style Editor, Konye Nwabogor, alongside the Group Features Editor for THISDAY

Newspaper, Chiemelie Ezeobi, as well as Arise TV Morning Show Co-anchor, Ayo Mairo-Ese, were yesterday named amongst the 25 Most Powerful Women

in Journalism (WIJ) 2024 While Ezeobi moved four places from no 10th in 2023 to number six in 2024, Nwabogor clinched 14th spot this year, two

positions up from the 2023 listing.

Also, making the Leaders and Company Group proud was Mairo-Ese, who clinched number 16, as against the 25th

In Historic Move, Manitoba to Start Celebrating Nigeria’s Independence Day Mary Nnah The Legislative Assembly of Manitoba, a Canadian Province, has made a historic move by passing Bill 22, The Celebration of Nigerian Independence Day Act. This amendment to the Commemoration of Days, Weeks and Months Act proclaims October 1st each year as a Celebration of Nigerian Independence Day. To this end, the Manitoba Government, yesterday, hosted

a flag-raising ceremony at the Manitoba Legislative Building to commemorate Nigeria's 64th Independence Day. Deputy Premier, Uzoma Asagwara and key members of the Manitoba Legislature, attended the event, joining forces with the Nigerian community to celebrate this momentous occasion.

A press release by the Social Secretary of the Nigerian Association of Manitoba, Abiodun Adetu, noted the significance of the event for

future generations.

"This flag-raising is not just for us; it's for our children and the generations to come. It signifies that our culture and heritage are valued and that we have a home in Manitoba, where we can continue to thrive while staying connected to our Nigerian roots,” Adetu said.

President of the Nigerian Association of Manitoba, Vera Keyede, said, "This flag-raising ceremony is a powerful symbol of our journey as Nigerians in Manitoba. We're

deeply honoured by the support of the Manitoba government in recognising our cultural heritage."

Head of Chancery at the Nigerian High Commission in Ottawa, Tandu Ahmed, echoed this sentiment, when he said, "Events like today's flag-raising show the significance of our connection with the province of Manitoba."

Former President of the Nigerian Association of Manitoba, Wilson Akinwale, reflected on the community's growth.

position she attained in 2023.

While the number one spot was retained by the Director of News and Editor-in-Chief at TVC, Stella Din Jacob, Toun Sonaiya of Women FM, and Kadaria Ahmed of Radio Now both maintained the second and third spots respectively.

Annually, Women in Journalism Africa (WIJAFRICA) proudly honors Nigeria's most influential female journalists.

These exceptional individuals have made lasting impacts on the industry and paved the way for women's advancement in journalism.

Their remarkable achievements serve as a testament to their dedication, perseverance, and innovative storytelling.

WIJAFRICA, a prestigious network of leading women journalists across Africa, recognises and celebrates these trailblazers through its annual list.

at the expiration of a period of six years.”

Additionally, he proposed the “substitution of an aspirant” in Section 285(14)(a) with “a voter.”

The former vice-president further suggested that the minimum educational qualification for a person to run for election should be the Ordinary National Diploma instead of the Senior Secondary School Certificate Examination.

He proposed an amendment to Section 65(2)(a) to read: “He has been educated up to at least Ordinary National Diploma in any recognised academic institution.”

Furthermore, he recommended the insertion of a paragraph in Section 65(2)(a)(i) to read: “Evidence of certificates of all educational qualifications of a candidate shall be submitted to the Independent National Electoral Commission or an affidavit by the candidate in the event of loss of his/her educational certificates, qualifications obtained, and dates, stating the schools attended.”

Atiku equally requested that political parties should have more power in the candidate selection process.

To this end, he proposed an “amendment to Section 65(2)(b) to read: ‘He is a member of a political party whose name is in the register to be made available by his political party to the Independent National Electoral Commission 30 days before the conduct of the political party’s primary and he is sponsored by that party.”

Again, MNJTF Intercepts Terrorists' Logistics Syndicate in Borno, Rescues 38 Troops of 6 Brigade foil B/Haram's plot to establish base in Taraba

Linus Aleke in Abuja and Wole Ayodele in Jalingo Troops of the Multinational Joint Task Force (MNJTF), deployed to Sector 3 in Mongunu during an intensified clearance operation rescued 38 Boko Haram abducted hostages and disrupted a key terrorists' logistics syndicate.

A statement by Chief Military Information Officer, HQ MNJTF N'djamena, Chad, Lt Col Olaniyi Osoba, said the troops during an intensified clearance operation in the Kukawa Local Government Area and Baga Axis, intercepted a group of Boko Haram terrorists transporting a large number of hostages.

In another security development, troops of 6 Brigade, Nigerian Army/ Sector 3 Operation Whirl Stroke (OPWS) successfully foiled a plot

by Boko Haram's insurgent group to establish a sleeper cell in Taraba State. foil B/Haram plot to establish

base in Taraba The sleeper cell, according to a release by the Acting Assistant Director of Public Relations of the Brigade, Captain Olubodunde Oni, was to serve as launchpad to launch improvised explosive device attacks on individuals and critical facilities.

According to the Brigade, 8 people have already been arrested in connection with the plot and have made confessional statements to the commission of the crime and are also giving useful information to the Brigade.

Meanwhile, the Chief Military Information Officer, HQ MNJTF N'djamena, Chad, Lt Col Olaniyi Osoba explained that the terrorists fled upon encountering the troops, leaving behind the hostages, who were promptly rescued.

His words: "Among the rescued persons include eight men, eight women, and 24 children," he added.

Preliminary investigation, he said

suggests that the hostages were being transported from a Boko Haram enclave in Dogon Chikwu, which has become increasingly untenable due to intense pressure of MNJTF operational activity.”

He averred that the troops are currently pursuing the fleeing terrorists, who may be holding additional hostages.

He said: "In a separate operation, MNJTF forces intercepted a Boko Haram logistics syndicate operating in the Gubio general area. The syndicate was using three vehicles to transport various supplies to terrorist enclaves.

“The apprehended suspects, identified as Mustapha Muhamadu, Abdullahi Muhammed, and Usman Bintumi, were found in possession of a significant quantity of food items, clothing, medical supplies, and other essential goods".

Osoba noted that the successful operations conducted by the MNJTF demonstrated the ongoing com-

mitment of the regional forces to combat terrorism and protect innocent civilians in the Lake Chad region.

These victories, he said are a testament to the effectiveness of the MNJTF's intelligence-led approach and the cooperation between the military and Civilian Joint Task Forces.

Meanwhile, a release by the Acting Assistant Director of Public Relations of the 6 Brigade, Captain Olubodunde Oni further stated that 7 out of the 8 suspects had traveled from various states across the country to join the terror cell and were camped in the house of one Tukura Abdul-Kareem in Sunkani Ward of Ardo Kola Local Government Area of the state which is about 30 km on the outskirt of Jalingo.

The statement read: "Acting swiftly on reliable intelligence, troops of the Brigade on 29 September 2024 conducted a raid on the residence of one of the terrorists’ leader Tukura Abdul-Kareem in Sunkani Ward of

Ardo-Kola Local Government Area.

"This operation resulted in the arrest of Abdul-Kareem and 7 additional suspects who had traveled from various states to join the terror cell.

"Investigation revealed that the 8 Boko Haram Terrorists were planning to establish a sleeper cell within Taraba State, with the intention of launching Improvised Explosive Device (IED) attacks on innocent individuals and critical facilities within the state.

"Abdul -Kareem also confessed to have joined Boko Haram with his brother Adamu Abdul -Kareem who is still hibernating in the bush with the terrorists at an unknown area for a long period of time.

"Items recovered from the suspects include 9 mobile phones, Identity Cards, wraps of controlled items suspected to be marijuana and other hard drugs" The Brigade also disclosed that

it arrested 2 kidnapper informants who have been linked to high profile kidnapping syndicates.

The suspects, Patience Avadoo Tersoo and Joy Nguemu Emmanuel were arrested on 30th of September, 2024 at Chanchangi village in Takum Local Government Area of the state and are said to be wife and sister to a notorious kidnapper, Anyogo.

The 2 suspects are alleged to have been providing Anyogo and his gang with information about movement and activities of troops within the area as well as identifying rich businessmen to be robbed or kidnapped for ransom.

The Commander 6 Brigade, Brigadier General Kingsley Chidiebere Uwa commended the troops for their exceptional dedication and professionalism in carrying out the successful operations saying their swift action has disrupted a dangerous terror plot and safeguarded security of lives and properties.

76

T H I S D AY • WEDNESday OCTOBER 2, 2024

Education

Fasina: We Have Positioned FUOYE to Withstand Surge in Student Population

In this Interview with Raheem Akingbolu, the Vice-Chancellor of the Federal University, Oye Ekiti, Prof. Abayomi Fasina, speaks on how the university has fared under him in the last three years and factors that made FUOYE the fourth most sought-after university in Nigeria, among others issues

T

he issue of funding for public universities has been a sore point between the Academic Staff Union of Universities (ASUU) and the federal government. What is your take on this?

On the issue of funding, the government has a lot of children; it has about 62 public universities and has little resources to fund all of them effectively. My belief is that the government alone can’t fund tertiary institutions.

So, when l came on board, l had a mission to create wealth through boosting the internally generated revenue to assist the university. I have been here as the DVC (administration) for years and know what is on the ground. I am aware that a major challenge we will have is funding, so I decided to create wealth. I created the Centre for Continuing Education under which we have the Institute of Part-time Studies with mini-campuses in more than nine communities in Ekiti, and sandwich programmes, affiliated colleges and, FUOYE Business School and Business Ventures, among others. We pull all these resources together to create wealth and use that to provide more infrastructure for the university and make available more stipends for my colleagues working in those IGR directorates.

Government also gives us capital grants, which we use to build more infrastructures.

During the COVID-19 and ASUU strikes, our lecturers worked for part-time students online and earned money. I pray that whoever will succeed me will continue this way and sustain

a large intake, and how have they excelled academically among their peers?

Our products here are doing very well out there. You are aware that recently, nine of our students in 300 level and 400 level were celebrated for passing the ICAN exams and many of them have won academic laurels in national contests. Six of them, who are fresh graduates, have recently won doctorate scholarships in universities in the United States of America. This shows that the quality of teaching and lecturers is high here. We operate a hybrid teaching system, both physical and online, and this works fine.

Fasina my legacies. I run our four hostels on solar energy, which helps us save money because we are not buying diesel. I want to advise that some of our colleagues can also rely on solar and other green energy solutions to provide campus electricity.

How have you been coping with

How is the university doing in the area of research, which is considered a core mandate?

I want to appreciate some of my colleagues because we are winning big grants, including me, in terms of research. One such was a huge grant on mathematics and malaria from Bill and Melinda Gates. It is almost half a billion naira and has to do with infectious diseases in that area. The lecturer who got that is Dr. Emmanuel A. Bakare. I also got a project grant that brought a lot of equipment to my faculty at this university. This developmental trend will continue with the new council in place because I can assure you that the new members are excellent people. They will surely contribute further to this university’s development because they have many lofty ideas for this university, especially the council chairman.

How will you rate your administration in the last three years in the saddle in this university?

We have had a great impact on every aspect of the university, starting from academics and trying to see how we can contribute our quota to food security in Nigeria. We have 15 hectares of oil palm, five pineapple, 10 hectares of cassava, and 10 hectares of maize, etc on our field, which is a small way to contribute our own quota to food security to support the president. We also use the expansive farmland to train our students in the Faculty of Agriculture. We have also built more than 40 new classrooms to cater for our teeming students in the last four years.

We have changed the face of this university in terms of infrastructural development. We have really improved on all fronts, and that is why l am not surprised that we have been ranked by JAMB as the fourth most subscribed university in Nigeria.

The courses are available, and the quality of our lecturers is very sound and high.

Our calendar is stable as we are entering the 2024/2025 academic session from next month. Looking at all the parameters, indices, and indicators, you will see that we have continued to go higher in terms of proper ranking, stability of our calendar, quality of lecturers, and quality of students.

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

Capitalfield Investment Group Limited Lights Students’ Path to Brighter Future In a demonstration of its commitment to youth empowerment and educational excellence, Capitalfield Investment Group Limited (CIGL), a leading conglomerate providing diverse financial and non-financial services, has donated essential educational materials, including notebooks, textbooks, and writing supplies to four schools in Lagos, The company also awarded cash prizes to the best-performing students at each school.

The beneficiaries were Kuramo Junior and Senior High School, Ireti Junior and Senior Secondary School, Falomo Junior and Senior Secondary

School, and Ereko Special Needs School.

The corporate social responsibility initiative, part of activities to celebrate the company’s in celebration of 21st anniversary, was also aimed at fostering academic growth and recognising outstanding student achievements.

The Group Managing Director, Mr. Raphael Lewu, said, “We believe that Education is the foundation for a prosperous future. By investing in these students, we are investing in the future of our nation. These young minds are

the leaders, innovators, and change-makers of tomorrow, and it is our responsibility to support them today.”

The initiative was met with overwhelming enthusiasm from students, educators, and parents.

The students expressed gratitude at each school for the materials and prizes, while educators lauded Capitalfield’s commitment to Education and youth development.

One particularly memorable moment occurred at Ereko Special Needs School, where the joy on the students’ faces was palpable as they received their new learning materials, food supplies and

other resources to better support their needs.

Capitalfield’s inclusive approach ensures that no student is left behind, regardless of their unique challenges.

Capitalfield Investment Group has diversified its operations into key sectors, including energy, mining, and agriculture, through its subsidiaries Capitalfield Energy and Allied Services Limited, Roots Mining Co., and Seedland Agro-Allied Ltd. The company remains committed to exploring new opportunities within the financial market and making meaningful impacts on society at large.

FCET Umunze Commences Bread Production The FECETU Bakery, a brainchild of the management of Federal College of Education (Technical) Umunze, on September 27, 2024, began the production and sale of ‘FECETU Delicious Bread’ and other confectioneries.

While unveiling the bread, the Provost, Prof.

Theresa Okoli, thanked the Tertiary Education Trust Fund (TETFund) for sponsoring the project, describing it as a lifeline for the college. She said the legacy project would outlive her tenure as provost and expressed excitement about investing in the future.

The provost commended her management team for their support towards the project, which she said would also serve as a practical training facility for staff and students on bread

production.

Okoli said the bakery was part of the initiatives of the present administration to bolster the internal revenue-generating base and enhance the financial autonomy of the institution.

She added that the bakery would serve as a practical course in entrepreneurship education for students and equip them with requisite skills.

She, therefore, encouraged staff and students to take advantage of the opportunity to gain practical experience and equip themselves with employable skills.

The provost said that the neatness of the bakery and its production line was

second to none and urged the workers never to lower the standard.

The Registar, Dr. (Mrs) B.C. Nkah, expressed joy and thanked the provost for the dream come true.

She expressed satisfaction with the modern baking facilities and the quality of bread produced on the first day.

The Deputy Provost, Dr. ThankGod Nzeribe, congratulated Okoli and Dr. JOC Orah on their commitment to successfully launching FECETU Delicious Bread. He expressed hope that the packaged water plant already completed in the college would soon commence production to complement the bakery in revving the revenue base of the college.

The Bursar, Ethelbert Echedo, analysed the

financial benefits of the bakery to the college and described it as a lifesaver.

He described the bakery as a viable IGR project and commended the provost for the landmark achievement.

The Director of FECETU Bakery, Dr. JOC Orah, a chief lecturer in the School of Business Education, said the bakery would open for business on working days but could also produce on weekends on demand.

He commended the management for attracting the project to the college. He assured the college and the public of the quality of bread production that would benchmark the highest standards and meet food safety requirements in the confectionery industry.

Akowonjo Rotary Club Empowers 400 Students with Back-to-School Initiative Mary Nnah

In a heartwarming display of community service, the Rotary Club of Akowonjo, led by the President, Ben Dare, has launched a groundbreaking ‘Back to School’ initiative at Rauf Aregbesola Primary School Compound, Shasha, Lagos.

The project has transformed the lives of over 400 primary school students, equipping them with essential educational tools and igniting

a passion for learning that will last a lifetime.

The Rotary Club’s Basic Education and Literacy Project is a shining example of the organisation’s commitment to empowering young minds and fostering a culture of literacy and learning. By providing students with vital resources, including school bags, books, stationeries, and water bottles, the club is helping to level the playing field and ensure that every child

has an equal opportunity to succeed.

Dare said, “Education is power. It gives you the leverage to be a better citizen and contribute to nation-building.” This initiative aims to nurture the younger generation, keeping the hope alive for a brighter Nigeria. “As a nation, Nigeria, it’s the hope of every one of us to take up the challenge and the responsibility of nurturing the younger generation to keep the hope alive.”

The impact of this project will be felt far beyond the classrooms. By supporting basic Education,

the Rotary Club of Akowonjo contributes to national development, empowers students to become active citizens, and fosters a culture of literacy and learning. This initiative is a beacon of hope for a better tomorrow, where young Nigerians are equipped to take on the challenges of the 21st century.

“In a few years’ time, our prayer and joy will be to see this younger generation standing up to be counted, representing Nigeria and making Nigeria proud,” noted Dare.

77

THISDAY • WEDNESDAY, OCTOBER 02, 2024

polity

Olukoyede: Amplifying International Collaborations in Anti-corruption Fight

By Tony Egbulefu

O

la Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission, EFCC has been intentional in blazing trails in international law enforcement collaborations. The target upshot is the disruption and dismantling of organized crime networks and denial of criminal elements of the proceeds of their crimes, irrespective of their domains.

Whereas the Commission carries out joint field operations with law enforcement agencies of foreign jurisdictions as the occasion calls, transatlantic collaborations and partnerships involving the EFCC have attained a new height under his leadership.

A remarkable result of this was the record setting July 14, 2024 official visit of the FBI Director, Christopher Wray to the Commission. The FBI Director flew into the country to personally broker a new strategic alliance between the Bureau and EFCC towards tackling the waves of emerging and old crimes that are of mutual interest to Nigeria and the United States. It was the first of its kind in history.

While expressing delight at the bond that has existed over the years between the EFCC and FBI, Wray observed the need and urgency to scale up the relationship in the face of common crime threats that confront Nigeria and the US. “We have had a relationship over the years and this is a reflection of how stronger than ever we are looking forward to taking our partnership to higher and higher levels in tackling threats that affect the people of Nigeria and the people of the United States. We have had close partnerships in shared values and focus and I want to say thank you for the wonderful partnership,” he said. In Wray’s delegation were the Bureau’s big shots which included: Charles Smith Jnr, Sydney Schaur, Joshua James Moldt, William Michael Miller, Vanessa M. Tibbits, William B. Stevens, Leigha Ramson, Sofie Admire Sosenzweig and Dr. Jim Oscar.

Assuring the FBI Director and his team of EFCC’s commitment to collaboration with the American agency, Olukoyede stated that the Commission was willing “to continue and develop ideas that would be of mutual benefit to both agencies.” And in suing for the enhancement of the collaboration and strategic partnerships, he noted that doing so was in mutual interest of Nigeria and the US, especially as criminality has become borderless. “Some of the crimes we fight are borderless crimes, so it is extremely important for law enforcement agencies across the world to come together to collaborate. Law enforcement agencies must collaborate more. Our activities must

Olukayode be borderless so that we will be able to challenge the activities of the bad guys,” he said.

The renewed attraction of foreign law enforcement agencies to the EFCC under Olukoyede strongly anchors on the new face of the fight against economic and financial crimes, now borne on the wings of rule of law and international best practices. The new approaches of the Commission under Olukoyede have also resonated well with the Royal Canadian Mounted Police (RCMP), leading to outcomes.

On September 6, 2024, the EFCC boss handed over to the Royal Canadian Mounted Police (RCMP) the sum of $180,300 and 53 vehicles, being assets recovered for Canadian victims of Nigerian tribe of fraudsters. One Hundred and Sixty-four Thousand US Dollars ($164,000) of the recovered cash assets was for a victim, identified as Elena Bogomas, while $16,300 (Sixteen Thousand, Three Hundred US Dollar) belonged to a victim, known as Sandra Butler. The recovered 53 vehicles were stolen over a period of time in Canada, freighted to Nigeria and distributed to multiple locations in Nigeria by the criminal elements. Representing the Canadian authorities and the RCMP in the handover ceremony

were Robert Aboumitri, First Secretary, Deputy High Commission of Canada and Nasser Salihou, Liaison Officer and Programme Manager, RCMP. Salihou expressed appreciation and averred that the success of the EFCC’s investigation in the fraud and theft indeed testified to the Commission’s diligence and professionalism. “This is a testimony of your professionalism and your commitment to combat crime. I would not conclude my statement without thanking the government of Nigeria as well. With your permission Mr. Chairman, I wish to say that all other countries will be jealous of you. This also shows that you are our key partner in West Africa in combating crimes. So thank you very much. We value this partnership and we will like to take it to the highest level possible,” he said.

Aboumitri who shared similar joy revealed that the need to confront borderless crimes was the primary motivation of the Canadian government in establishing the RCMP in Nigeria. According to him, “The RCMP decided to open an office in Nigeria in September 2021 because there was a recognition that while we are bound by jurisdictions, criminals are not and in order for us to fight crimes we need to actually go beyond jurisdiction and this is why we are here. And we have found out that in Nigeria one of our best partners is, has been and hoping it will continue to be is the EFCC. We never knocked EFCC’s door without them answering. It has been a great partnership and the culmination of the partnership is the result that we are seeing. We would like to thank you. We would like to thank the government of Nigeria and I will be amiss if I don’t thank the people we work with everyday in your team in Lagos,” he said.

Olukoyede who disclosed that his resolve to confront borderless crimes is fired by the zerotolerance of the Nigerian government under President Tinubu further added that it was “a demonstration of the fact that President Asiwaju Bola Ahmed has given us the mandate to extend our hands of fellowship and collaboration with you to ensure that this particular problem is resolved.

The Royal Canadian Mounted Police, RCMP has been collaborating with us and that commitment has resulted in a lot of recoveries.”

Re-emphasizing the need for international partnership and collaborations, the EFCC boss noted that the fluxive maze of transnational crimes and the challenges they pose have made synergy and collaboration among law enforcement agencies more compelling. “It is common knowledge that financial crimes have taken a new turn all across the globe and have become a global problem. That is why it has become very necessary and imperative for us to collaborate with all our friends across the world; that is people who share the same objectives and mandate with us. Most of the countries across the world are collaborating with us in the area of

fighting financial crimes. We investigate, pursue, recover, prosecute and ensure that victims of fraud are restituted,” he said.

The success story on the Canadian heist and internet fraud began with Aboumitri approaching the Commission with a complaint of “high incidence of stolen cars from Canada being shipped to Nigeria,” and subsequently provided the Commission with an excel sheet of the description of the cars and their Vehicle Identification Numbers, (VIN).

The EFCC has also been making exploits with the Spanish Police. On September 20, 2024, Olukoyede handed over €5100 (Five Thousand, One Hundred Euros) proceeds of crime to the Spanish Ambassador to Nigeria, His Excellency, Juan Ignacio Sell, being the sum recovered from a Nigerian romance fraudster for Heinz Burchard Einhaus Uchtmann, a Spanish victim by the EFCC in collaboration with the Spanish Police. While handing over the deed of release on behalf of the Nigerian government, the EFCC boss expressed appreciation to the Spanish government for its support to Nigeria over the years, noting that the asset recovery and handover lent evidence to the cordial relationship and collaboration between both countries and their law enforcement agencies.

“On our part as a law enforcement agency, the event here today is a testament of the collaboration between Nigeria and Spain and also between the law enforcement agencies in Nigeria and those in Spain. We are resolute to ensure that Nigeria is not made a safe haven for financial criminals and corrupt people. In the interest of both countries we must do what we have to do,” he said.

A happy Sell lauded the collaboration between the EFCC and Spanish Police and pledged the commitment of the Spanish government to strengthen and take it to the next level. “What has made this special is the fact that we have seen the results of the efforts of the collaboration of two countries that are friends for the benefit of the citizens. Indeed this is a joyful moment for all of us: those who were involved in the investigation and those who supervised it and made it happen.”

Today’s international crimes, Sell said, clearly called for stronger collaboration between agencies and between countries. “I am a witness that this is happening between Nigeria and Spain and specifically between the EFCC and Spanish Police.

We are more than willing and more than ready to increase that cooperation between the EFCC and its sister institutions in Spain,” he said.

In Sell’s delegation were Spanish Police Attache from the Spanish Embassy in Nigeria. the relationship between the EFCC and the FBI, so also with the Royal Canadian Mounted Police and Spanish Police.

•ACE11, Tony Egbulefu is of the Public Affairs Directorate of the Economic and Financial Crimes Commission, EFCC

NEWS

Afenifere Chief, Ayo Opadokun, Faults Tinubu over Security Situation in Nigeria Linus Aleke in Abuja

A chieftain of Afenifere, Chief Ayo Opadokun, yesterday,faulted President Bola Tinubu’s claim that the security situation in the country had improved “tremendously” and that the nation was winning the war against terrorism, banditry, kidnapping and other

emerging security threats across the federation.

Opadokun, former Secretary General of National Democratic Coalition (NADECO), while reacting to Tinubu’s Independence Day broadcast, queried if the president was living in another Nigeria different from the one “the rest of the us lives in.”

President Tinubu had in his Independence broadcast stated: “On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry.

“Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge

of all forms of violent extremism.

Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever.

“As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country.”

FRSC Boss, Mohammed, Applauds Rescue Team over N8.6m Recoverd from Crash Site Kasim Sumaina in Abuja

The Corps Marshal, Federal Road Safety Corps (FRSC), Shehu Mohammed, has applauded the rescue team of the Corps, who successfully recovered the sum of eight million, six hundred and twenty thousand naira only (8,620,000) during a rescue operation carried out at the scene of

a road traffic crash in Kaduna State.

The road traffic crash occurred at Area G, Samaru along Zaria-Funtua road on the evening of Monday, 2024 at 1900HRS. From the report of the rescue operations conducted, a Ford Pick-up belonging to Nigerian Army with registration number FST 134FX was moving towards Funtua, when a

red Toyota Corolla with registration number KTN 316 HK enroute Zaria whose driver was confirmed to be speeding against legal speed limit, lost control and crashed onto the Ford Pick-up.

Initial investigation, which revealed that the cause of the crash was speed violation also showed that three people were involved

in the Crash, two of the victims sustained various degrees of injury, while the remaining victim was rescued without injury.

The Corps Marshal, while identifying speed as as one of the major causes of fatalities and injuries in the country, urged the motoring public to desist from violating prescribed speed limit on all roads.

But speaking on AIT’s flagship programme, Kakaki, the elder statesman averred that the nation’s current security architecture was performing abysmally, insisting that “it cannot deliver.”

According to him, “You are asking the Nigerian Conventional Armed Forces to fight asymmetrical war, bandits and invaders. Criminals, who would just fire arms and ammunition and then go back to the community and dress like the villagers and you cannot easily identify them.

“And you say that the Nigerian Armed Forces who are trained to fight institutionised armed forces of opposite side to go and fight that and you proudly say that they are winning the war. That is not true, that does not represent the reality on ground in Nigeria today.

“The Nigerian security architecture had made it impossible for ordinary farmer to go to farm. There is too much unacceptable level of poverty in Nigeria today. The agrarian farmers, the ordinary man, who can plough

the field and get things done had been prevented from doing so by the invaders.

“Farmers are being killed and kidnapped in their farms and their farms ravaged by cows. There is so much that is wrong with our security system, yet the Nigerian state is saying that the current security system is the best. That they have killed several thousands of Boko Haram and that is an achievement.

“I am sorry, that does not command respect from any reasonable person. I expected that the president would have reached out to competent people, who would assist him solve the problem of Nigeria. The current system does not work.”

Further criticizing President Tinubu’s Independence broadcast, the elder statesman said, Nigeria remained a giant in the foot of clay. “Nigeria is a failure to the black race that look up to her for leadership. Let us first of all succeed in governing ourselves before we can reach out,” he added.

WEDNESday october 2, 2024 • T H I S D AY

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NEWS

We’ll Participate in Rivers LG Elections, Declares APC Blessing Ibunge in Port Harcourt

The Rivers State Chapter of the All Progressives Congress (APC) has declared that it will participate in the state local government council elections fixed for Saturday, October 5, 2024.

The Chairman of APC in the state, Emeka Beke made the announcement in a letter he

jointly signed with the party’s secretary, Sam Etetegwung, which was addressed to the national chairman of the Independent National Electoral Commission (INEC) yesterday.

In stated this in letter titled “Re: Position of the Rivers State All Progressives Congress on the Forthcoming Local Government Election in Rivers State vis-a-vis the

AI Afrique Unveils Platform to Bridge Devt Gap in Africa Foremost information technology (IT) solution provider, AI Afrique, has introduced a platform that will bridge the gap of developmental innovations between the advanced world and regions that were historically left behind during major global advancements, particularly, Africa.

Founder/CEO of AI Afrique, Dr. Koyi Ugboma, disclosed this in a statement made available to THISDAY, that the platform will make up for challenges hitherto faced

by Africa through different phases and aspects of global advancement.

He said: “Africa, in particular, was not part of the Industrial Revolution, missed out during the Avant Garde era, and lagged behind during the microchip era. Now, as AI driven by data science reshapes the world, we aim to ensure that Africa does not miss this critical moment.”

Launched on 20th of September, 2024, the platform, also known as AI Afrique, according to the founder will foster relevant connections and effective learning experiences in the field of Artificial Intelligence (AI) and data analysis, by empowering

enthusiasts in Africa to be part of the global AI movement.

Explaining how the platform works, Ugboma said: “Mentors choose their areas of expertise, while mentees indicate their interests.”

He stated further that the platform is designed to bring mentees across Africa’s AI ecosystem in contact with experts from within and outside the continent. This, he explained, will promote collaborative growth, support peer connections, and facilitate exchange of knowledge in multiple languages.

While stressing that the platform is designed to engender relevant connections and effective learning experiences in the field of AI and data analysis, Ugboma noted that the system is in-built with a simple questionnaire that helps to select and match mentors, mentees, and peers in the field of AI and data analysis for the best possible and mutually beneficial collaboration. “Mentees can connect with one another to collaborate, discuss challenges, and explore opportunities to improve their skills.”

Experts at SYNLAB Outline Proactive Measures for Healthy Kidney As chronic kidney disease (CKD) continues to rise globally, especially in developing nations, renowned health experts at SYNLAB Nigeria have shared insights on how proactive lifestyle changes can significantly contribute to kidney health.

Speakers at a recent webinar session organised by the company emphasised on the importance of prevention over treatment, offering practical tips to preserve kidney function and reduce the risk of kidney-related complications.

For instance, Dr. Damian Avar, provided an in-depth discussion on the role of diet, hydration, and physical activity in maintaining optimal kidney function. He warned against consuming processed meats, high-sodium products, fast foods, and sugary beverages like sodas and energy drinks, all of which can overwork the kidneys.

On hydration, Dr. Avar recommended drinking of three to four litres of water daily for men and two to three litres for women, depending on individual

factors such as age, health status, and physical activity levels.

He noted that staying wellhydrated is essential to help the kidneys filter waste and maintain a healthy balance of fluids in the body.

Dr. Avar further stressed the importance of regular exercise, suggesting 150 minutes of moderate intensity physical activity or 75 minutes of vigorous exercise per week.

He explained that activities like brisk walking, cycling, running, and strength training could improve kidney function, boost overall health, and manage weight—an essential factor in reducing the risk of kidney disease.

He also noted that stress management plays a critical role in kidney health, encouraging practices like yoga and meditation to help mitigate the effects of stress on the kidneys.

Additionally, Avar advised participants to avoid the use of non-steroidal anti-inflammatory drugs (NSAIDs), as prolonged usage could lead to kidney damage.

Judgement in Suit No. FHC/ ABJ/987/2024”.

Beke, who noted the participation of the party in

held at Abeokuta, Ogun State, said the perception of insurance by the people is crucial to the industry’s growth.

Speaking on his personal experience on insurance in Nigeria, he said: “About a year ago, my house caught fire because the load that came from the national power supply ignited the inverter supply.

“Luckily we were able to get support from an insurance company which is SUNU Assurances and within few days, inspection and replacement of equipments were done and payment was made.

“The person who made that happen is the Managing Director of the company, Mr. Samuel Ogbodu.

Electoral Commission (RSIEC) for election.

The APC chairman faulted the judgement of Justice Peter

Lifu, stopping the polling to hold, saying that the application allegedly filed the matter deceit.

Abuja Residents Demand Overhaul of AEDC Mgt over Inefficiency Kasim Sumaina in Abuja

The residents of the Federal Capital Territory (FCT) have called on President Bola Tinubu to as a matter of urgency overhaul the management of Abuja Electricity Distribution Company (AEDC) over its inefficiency.

The residents under the auspices of Association of

Landlords, Jikwoyi Phase 4, a satellite community in the FCT, lamented that the community has been in total darkness due to the failure of a critical transformer, which AEDC has failed to replace or repair.

Its Chairman, Kareem Akeem, decried that the neglect by AEDC has inflicted immense suffering on the community, therefore,

demands immediate corrective action.

Akeem, while speaking in Abuja, noted that the consequences extended far beyond residential hardship, as local businesses struggle to survive, with many already forced to shut their doors and others preparing to depart.

He decried that AEDC has subjected consumers in the area

to extortionate billing, imposing outrageous charges without corresponding service delivery.

The association noted: “Mr. President, let us bring to your notice that it was the community itself that funded and installed the transformer and supporting “The company’s lack of accountability and transparency has eroded public trust.”

in the fares given to them by the company for transporting their commodities to various destinations.

Their lawyer, Barrister Luka Haruna, who spoke on their behalf yesterday, said the transporters complained that the costs of petrol, gas and

maintenance have skyrocketed but the company has not increased their fares despite series of appeals.

They said they have faced stagnant freight rates, crippling their business, while cement prices have skyrocketed.

“NARTO is demanding a 50

per cent freight rate increase and an end to the company’s intimidating tactics against citizens and NARTO members.

The association also calls on Ashaka Cement PLC to fulfill its corporate social responsibilities to the host community.”, the said.

Transporters Demand 50% Fares Increase from Ashaka Cement Segun Awofadeji in Gombe

Transporters working with Ashaka Cement Company in Gombe State under the aegis of Nigerian Association of Road Transport Owners (NARTO), Ashaka branch, has demanded 50 per cent increase

Youths Protest Murder of Head of Local Vigilance Group in Kwara Hammed ShittuinIlorin

Hundreds of angry youths in Kajola village of Igbaja community in Ifelodun local government council area of Kwara State yesterday staged a peaceful protest over the purported killing of the commandant of a local vigilance group in the community.

Already, security personnel including Army, State Security Service and the police were said to have been mobilised to the community to avoid any attacks.

The deceased, according to THISDAY checks, was said to have been killed by a suspected Fulani in the community.

The vigilance commandant, Chief Lukman Balogun, who had been a thorn in the flesh of kidnappers in the environ was until his death Monday evening, a traditional ruler, holding the title of Jagun of Elese Igbajaland. Following this ugly development, the angry youths yesterday took to the streets when

the news of another kidnap of three people in the same area filtered into the community.

It was further learnt that the deceased was among the team on the trail of some kidnappers who had earlier abducted three prominent residents, before he was reportedly killed.

‘Labour Party’s Obidient Movement has Registered 22m Voters in North-west’ Chuks OkochainAbuja

The National Coordinating Council of the Obidients Movement of the Labour Party (LP) has said that it has successfully registered at least 22,672,373 voters from seven states of the north-west zone of the country.

The interim national coordinator of the movement, Yunusa Tanko, made this known in Kano during the flag-off of the Obidient Movement advocacy for registration.

In a statement by Ibrahim Umar, Tanko Yunusa said: “After the 2019 election and the unprecedented hardship and incompetence brought upon the Nation by the All Progressives Congress (APC)-led administration, some well meaning Nigerians, myself included, who were totally dissatisfied with the poor governance and lack of direction decided to forge a common front, and save this country from the malady and tyranny that had been unfolding.

“This collective effort, midwifed the emergence of His Excellency Peter Gregory Obi and Dr. Yusuf Datti-Baba Ahmad, two people of impeccable integrity and well proven track record, to champion the movement that is now known as the Obidient Movement.”

“For the first time in our national history, Nigerians, especially the younger generation came together with one voice, in their millions, irrespective of their ethnic origin,

‘SUNU Assurances Revived My Family Fortune from Fire Disaster’ A professor has revealed how SUNU Assurances Plc revived his family’s fortune following a devastating fire outbreak in his home.

Based on the company prompt intervention, Professor Victor Banjo, who is Executive Director of Executive Education at Lagos Business School, has therefore, recommended SUNUAssurances as a leading customer-centric insurance company in the industry.

Professor Banjo, while presenting a paper on, “Customer-Centric Insurance: Enhancing the Customer Experience” at the Chartered Insurance Institute of Nigeria’s Year 2024 Insurance Professional Forum

the polls, added that names of candidates have been submitted to Rivers State Rivers State Independent

He is behind the success of the company as I later found.” ww“With the company’s prompt claims payment policy, I and my family didn’t suffer from the fire disaster.

“This is what we are talking about when looking at service.

SUNU Assurances proved to be one of the companies doing what we want to see happen with all the insurance companies and it should be the norm. Because when you have such incidences happening and people are getting their claims, it helps to raise their level of confidence and that it is indeed, possible to get value from the industry”.

social background and political affiliation. “With 12.5 million Obidients, registered in a few weeks and growing by the hour,

the movement from inception faced numerous challenges, among which was coordination.

However, with the 2023 elections

at hand, we proceeded with our best efforts, overwhelming our opponents convincingly, despite the unfortunate, official outcome.

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T H I S D AY • WEDNESDAY, OCTOBER 02, 2024

WEDNESdaysports

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Champions League: Boniface Fires Leverkusen Past AC Milan Adeyemi scores hat-trick in Dortmund’s 7-1 demolition of Celtic

Duro Ikhazuagbe

Bayer Leverkusen ended their five-match winless home run against Italian teams last night as Victor Boniface’s lone strike was all last year’s Europa League finalists needed to beat AC Milan and consolidated their UEFA Champions League campaign at the BayArena.

After a barren first half in which the Super Eagles forward scored a 21st minute goal but was ruled offside, Boniface in the 51st, picked a rebound ball from Jeremie Frimpong effort to give Leverkusen the needed advantage.

That goal opened the game up, and only the outstretched arm of Lukas Hradecky prevented Tijjani Reijnders from restoring parity for Milan. Youssouf Fofana twice threatened to grab an equaliser soon after, while Alvaro Morata had hearts in mouths all round the BayArena when he blocked Hradecky’s attempted clearance and the ball deflected over the bar in the dying minutes.

While Samuel Chukwueze had an 80th minute cameo appearance as substitute for Christian Pulisic on the AC Milan side, another Nigerian international, Nathan Tella also came on as Leverkusen's

CHAMPIONS LEAGUE RESULTS

Victor Boniface (left) in action as his goal guaranteed Bayer Leverkusen 1-0 victory over AC Milan last night at the BayArena in Germany 89th minute replacement for Florian Wirtz.

The win is the second for

Moses Simon Picked for Ligue 1 Team of the Month Following his impressive record breaking performance with FC Nantes in the month of September, Super Eagles red- hot winger, Moses Simon, has been named on the French Ligue 1 Team of the Month.

The selection is by the platform whoscored.com He grabbed two assists in three games in September, being Nantes fourth highest rated player, with a rating of 7.73.

Moses Simon also became Nantes top assist maker in the French top flight with his assist

against Toulouse making it 29 for the club thus far.

Also on the squad are; Goalkeeper: Gerónimo Rulli (Marseille) Defenders: Jonathan Clauss (Nice), Youssouf Ndayishimiye (Nice), Emmanuel Agbadou (Reims) Diego Moreira (Strasbourg) Midfielders: Denis Zakaria (Monaco), Tanguy Ndombele (Nice), Lamine Camara (Monaco) Forwards: Simon (Nantes), Ousmane Dembélé (PSG), Evann Guessand (Nice)

N8 Million Up for Grabs at Chief of Defence Staff Independence Day Basketball The Chief of Defence Staff (CDS), Gen.C.G Musa will organise a basketball championship with total prize money of N8million in celebration of Nigeria's 64th independence anniversary.

The tournament is scheduled to hold between October 2 and 6, 2024, at the Mo Arena, Wuse Zone 5 Abuja.

From the breakdown of the prize money, the tournament winner will earn N4 million, while the runner-up will grab N2.5 million.

The third placed team will receive N1.5 million.

The organisers promise the event to be an exciting display of skill and athleticism and a championship which aims to promote unity, teamwork and healthy competition among Nigerian basketball teams, while also showcasing the country's rich basketball talent.

The championship will feature a round-robin group stage, followed by knockout stages. The teams will compete in two groups of five teams each, with the top two teams from each group advancing to the semifinals.

Leverkusen in the Champions League after starting their campaign with 4-0 defeat of Feyenoord last month. For AC Milan, it is a second defeat as they lost 1-3 at home to Liverpool in their opening game of the campaign.

Elsewhere, German international with Nigerian ancestry, Karim Adeyemi, fired a hat-trick as Borussia Dortmund decimated Celtic 7-1. Adeyemi became the first

Dortmund player to score a first-half hat-trick in Europe since 2002.

The forward is also the second German player to score a first-half treble in a Champions League game.

Emre Can opened the floodgates of goals when he converted Dortmund’s penalty as early as the seventh minute. Two minutes later, Daizen Maeda restored parity for Celtic to give an

impression of a possibility night of a draw game.

But that was not to be as Adeyemi in 11th and 29th minutes extended Dortmund’s lead. Serhou Guirassy tucked away a penalty to make it 4-1.

But Adeyemi added another goal to complete his hat-trick before the first half break.

Guirassy and Felix Nmecha added two more goals in the second half to complete the 7-1 decimation of Celtic.

Barca 5-0 Young Boys Bratislava 0-4 Man City Salzburg 0-4. Brest Stuttgart 1-1 Sparta Arsenal 2-0 PSG Leverkusen 1-0 Milan Dortmund 7-1 Celtic Inter 4-0 Zvezda PSV 1-1. Sporting

TODAY Girona v Shakhtar v Aston Villa v Benfica v D’Zagreb v Lille v Liverpool v Leipzig. v.

S’Graz. v.

Feyenoord Atalanta B’Munich Atletico Monaco R’Madrid Bologna Juventus C’Brugge

Man Utd Successfully Appeal against Fernandes Red Card Manchester United Captain, Bruno Fernandes, has avoided a ban after the club successfully appealed against his red card in Sunday's 0-3 loss to Tottenham.

The 30-year-old was shown a straight red card for a foul on Spurs midfielder James Maddison and would have faced a three-match suspension for serious foul play.

However, United successfully argued that the decision to send him off was wrong and Fernandes will now be available for his side's forthcoming Premier League fixtures against Aston Villa, Brentford and West Ham.

Erik ten Hag's side were 1-0 down when Fernandes was sent off and proceeded to lose 3-0,their third league defeat of the campaign.

The incident came in the 42nd minute at Old Trafford with Fernandes slipping and sticking out a leg to catch Maddison halfway up his shin as he went past him.

"Never a red card - that is my view," Fernandes told BBC Match of the Day after the game. "I agree that it is a foul.

"The referee tried to tell me that as he saw it was a clear contact with the studs. No. I didn't touch him with the studs or even the foot,

it was my ankle. It is a clear foul.

"If he wants to give me a yellow because they are going to go on a counter then I agree. But more than that, no. It is not the case."

United's next match is against Porto in the Europa League on Thursday before they return to league action against Villa on Sunday.

This news will be greeted with a mixture of relief and immense frustration by Ten Hag. Fernandes might be way off his best form so far this season but he is a central figure for the United boss, potentially a creative spark

and a leader in a team desperately in need of them.

However, Ten Hag will wonder how Sunday's game would have turned out if his captain had remained on the pitch.

Tottenham had been by far the better team up to Fernandes' dismissal but were only one goal in front. The situation was salvageable.

Instead, United had 10 men, conceded at the start of the second half and from that moment just tried to stem the flow of attacks - which they failed to do, landing Ten Hag in deep trouble with the heavy loss.

Individual Honours Not Important Anymore, Says Ronaldo Cristiano Ronaldo says he "no longer cares" about being the best player in the world and is focused on helping his team-mates.

Ronaldo, 39, joined Saudi Pro League side Al-Nassr in January 2023 after leaving Manchester United.

On Monday the former Real Madrid and Juventus star scored in Al-Nassr's 2-1 win against

Qatari side Al-Rayyan in the AFC Champions League group stage.

"It is not important anymore whether I am the best or not, I no longer care about that," the Portugal captain said after the match.

"It is good for a player to score goals, but for me it is better for the team to win.

"I am used to breaking records and I no longer look for them. The

most important thing for me now is to enjoy and help Al-Nassr and my team-mates to win."

The attacker has won the Ballon d'Or on five occasions but has not been shortlisted for the 2024 award.

After scoring the 904th goal of his career, Ronaldo pointed to the sky rather than performing his usual goal celebration.

"My goal against Al-Rayyan was

different and important because my father would have been happy with it if he was alive, as today [Monday] is his birthday," he said.

In August Ronaldo said that he will likely end his career with Al-Nassr.

"I don't know if I will retire soon, in two or three years, but probably I will retire here at Al-Nassr," he said.

Ronaldo helped Al-Nassr win

the Arab Club Champions Cup in 2023, but he has not won a domestic title or continental-level silverware with the team.

Last May Ronaldo became the top scorer in a single season in the Saudi Pro League with 35 goals.

The Portugal captain also scored his 901st career goal in a 2-1 win over Scotland in the Nations League last month.

Wednesday, October 02, 2024

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MISSILE Edwin Clark to Politicians

“The political system in Nigeria today is very faulty. Faulty in the sense that it has shifted power from the people’s hands...The common man is not getting the benefits of democracy. The rich are getting richer, and the politicians that are dominating all aspects of our lives. So we have to improve the system of governance” --Elder Statesman, Chief Edwin Clark, advocates independent candidacy and parliamentary system of government for the country.

MagnusOnyibe For Nigeria’s Economic lndependence N guest columnist

igeria is experiencing a renewed wave of independence from colonial influences, this time achieving it through energy independence via the domestic refining of its rich crude oil resources. This transformation is being spearheaded by indigenous investors who own refineries, representing a significant step away from neo-colonialism and imperialism.

The reason local refining of petrol by Indigenous investors is being used as the linchpin of Nigeria’s economic independence after political independence was secured in 1960 is due to the central and all-encompassing role that petrol plays in the life of Nigerians. That is evidenced by the negative effect of the withdrawal of subsidy on petrol pump price some seventeen months ago at the inception of the incumbent administration and how a critical mass of Nigerians was thrown into severe economic hardships and misery. All because petrol drives transportation which is pivotal to the socio-economic activities of all Nigerians.

Key players in securing this second independence the petroleum energy sufficiency include the Dangote Refinery in Lekki, Lagos, which has a capacity of 650,000 liters per day, as well as five modular refineries: Aradel in Port Harcourt, Rivers State, producing 11,000 barrels per day (bpd); Waltersmith in Imo State, with a capacity of 5,000 bpd; Edo Refinery and Duport in Edo State, producing approximately 6,000 bpd and 2,500 bpd, respectively; and OPAC in Warri, Delta State, which has a capacity of 10,000 bpd.

Importantly, all five operational refineries plan to significantly expand their capacities, signaling that Nigeria is on the verge of moving from a state of scarcity to one of surplus in petroleum products, all things being equal.

It is crucial to recognize that past government policies, such as putting some economic activities in the Exclusive and Concurrent Lists of government which precludes the private sector from engaging in certain economic activities ,some of which the Petroleum Industry Act (PIA) enacted in 2021 has begun to reform are culprits.

That is derived from the fact that they are some of the factors that have hindered the modular refineries from producing petrol despite some being operational for over two decades. For example, Aradel has been in operation since 2010 but has not produced petrol due to regulated pump prices and the Nigerian National Petroleum Corporation’s (NNPC) preference for subsidizing petrol imports rather than local refineries.

Consequently, local refineries have focused on producing other petroleum products such as Automotive Gas Oil (AGO), naphtha, and black oil etc for over thirty years.

It is absurd that local producers were denied subsidies on petrol pump prices despite their capacity to generate numerous direct and indirect jobs. As such, the lack of encouragement for petrol production is preposterous.

It demonstrates the high level of lack of patriotism by those assigned the responsibility to serve our country at high level.

Subsidizing the refining of petrol at modular refineries would have enhanced our country’s Gross Domestic Product (GDP), instead of exporting capital and jobs to foreign countries that supply petroleum products to Nigeria. This export of highly needed hard currencies has exacerbated pressure on the naira and contributed to exchange rate instability.

Unlike the regulated prices of petrol, the prices of other petroleum products have historically been determined by market dynamics. With the reforms introduced by the Petroleum Industry Act (PIA) and the elimination of petrol subsidies, Nigeria appears poised to attain more autonomy via genuine energy independence. This process began with Dangote Refinery starting local petrol production at the beginning of September of this year.

The encouraging news is that Nigeria is set to take a significant step towards economic independence and energy security on the 1st day of October, when Dangote Refinery will begin receiving crude oil supplies paid for in naira, enabling the refinery to sell to local distributors in the same currency.

Coincidentally, October 1st marks the anniversary of Nigeria’s political independence from colonial rule 64 years ago.

Although four state-owned refineries were established between 1965 and the 1980s, they have not produced

President Bola Tinubu refined petroleum products for about 28 years. These refineries fell into disrepair due to mismanagement by bureaucrats who prioritized personal gain over public service, embezzling funds intended for essential maintenance that never resuscitated the facilities. Their negligence has certainly resulted in a breach of the public trust placed in them as public servants.

To provide some historical context, Nigeria discovered crude oil in Oloibiri, located in present-day Bayelsa in the oil-rich Niger Delta, in 1956. Seven years later, the country built its first crude oil refinery in Port Harcourt, with a capacity of 60,000 liters per day. This was followed by a second refinery in Port Harcourt, a third in Warri, and a fourth in Kaduna, bringing the total number of state-owned refineries to four, with a combined capacity of 445,000 liters per day.

As we know, after a period of operation during which Nigeria enjoyed a degree of energy independence, the four refineries became non-functional about 28 years ago.

This decline occurred despite numerous turn-around maintenance contracts awarded by successive governments, amounting to trillions of naira, aimed at restoring their functionality.

It is evident that the substantial investments made to revitalize these refineries have not yielded any positive outcomes, with numerous start dates announced over the years that never materialized. The facilities remain in a state of disrepair, raising questions about how they could still be inactive despite the significant funds spent on their rehabilitation. This situation suggests either a high-level conspiracy to undermine Nigeria by those tasked with refurbishing the refineries—who may be aligned with the interests of those profiting from continued imports of petrol into Nigeria —or that the facilities are in such poor condition that efforts to revive them by NNPCL are futile.

Continuing with the historical context, it’s important to note that Nigeria gained political independence from Britain on October 1, 1960. However, the country remained economically dependent on European nations due to the presence of various foreign companies operating in Nigeria, which were linked to their parent companies abroad where policy decisions were made. This was especially true for British firms, given that Britain was Nigeria’s colonial ruler, with these subsidiaries essentially acting as extensions of their parent companies in London.

In addition, firms from France, Germany, and Portugal swiftly established their presence in Nigeria, with their subsidiaries managed from Paris, Berlin, and Lisbon, where strategic decisions were formulated and relayed for execution. Given that Britain initially engaged with Nigeria as a trading partner before merging the northern and southern protectorates into a single colony known as Nigeria in 1914, it’s understandable that the grip on trade persisted even after Nigeria’s political independence in 1960. While Nigeria achieved political sovereignty, it did not attain economic freedom.

Consequently, the Nigerian oil industry and the broader economy, with only a handful of indigenous

investors, have been stifled by what can be described as the “rentier economy syndrome.”

It is such a source of curiosity to me that some Nigerians continue to push a political agenda by falsely claiming that foreign firms are exiting Nigeria in droves while it is the reality that British companies continue to dominate Nigeria’s economy. Not just in manufacturing but also in professional services, including: 1. PwC Nigeria (Audit, Tax, Consulting) 2. KPMG Nigeria (Audit, Tax, Advisory) 3. Ernst & Young Nigeria (Audit, Tax, Consulting) 4. Deloitte Nigeria (Audit, Tax, Consulting) 5. Linklaters Nigeria (Law Firm) In the financial services sector, major players include: A. Standard Chartered Bank Nigeria B. Barclays Bank Nigeria (now Absa Nigeria) C. HSBC Nigeria D. Ecobank Nigeria (partially owned by the UK’s Ecobank Transnational) E. ARM Investment Managers (part of the UK’s ARM Holdings) The technology services sector also features companies such as IBM Nigeria, HP Nigeria, Oracle Nigeria, Microsoft Nigeria, and UK-based tech firms like Andela, Interswitch, and Flutterwave, all of which maintain operations in Nigeria.

The logistics and supply chain sector also features a considerable number of companies originating from the UK, including DHL Nigeria, UPS Nigeria, FedEx Nigeria, and Maersk Nigeria, which is part of the UK-based A.P. Moller-Maersk. Bollore Logistics Nigeria is another firm that has maintained its operations in the country.

Similarly, the education and training sector includes the British Council Nigeria, IDP Education Nigeria (which provides study abroad services), Study Group Nigeria (education consulting), Pearson Nigeria (education services), and Cambridge Assessment Nigeria, all of which are actively involved in the market. Additionally, CharterHouse, a British boarding school, is establishing a campus in Lekki, Lagos.

The healthcare sector presents a different scenario.

While some British firms like GlaxoSmithKline Nigeria, AstraZeneca Nigeria, and Sanofi Nigeria may have ceased their manufacturing operations due to challenges in importing raw materials, they remain active in the Nigerian market. UK-based healthcare providers such as Medical Tours International and Health Tours Nigeria continue their presence as well.

Contrary to the claims made by the naysayers attempting to tarnish the country’s reputation through misinformation, there has not been a complete withdrawal of foreign firms from Nigeria. Instead, the healthcare companies mentioned have merely adapted their business models, relocating their manufacturing operations due to difficulties in accessing foreign exchange for raw material imports.

The same applies to a couple of American firms that also shut down their manufacturing operations in Nigeria.

Nonetheless, what l found out is that they are still engaged in the Nigerian market and may resume manufacturing once the exchange rate stabilizes.

This stabilization is anticipated as foreign exchange receipts increase due to a rise in crude oil production, and as the demand for foreign currency—which has contributed to its scarcity—diminishes. Furthermore, starting in October, petrol marketers will no longer face the challenge of purchasing refined petrol with hard currency, as they have pledged to source products from Dangote Refinery and other local refineries, including the five modular refineries now authorized to produce and sell petrol under a willing buyer, willing seller arrangement.

Given that the headline inflation rate has decreased consistently over the past couple of months—from 33.40% in July to 32.15% in August—thanks to measures implemented by economic management authorities, there is optimism that some manufacturing companies that previously exited may return.

This hope is reinforced by the fact that a nation with a population exceeding 200 million is too significant for any consumer goods manufacturer to overlook. The positive outlook is further supported by the current flow of petrol from Dangote Refineries, which is expected to alleviate pressure on the naira, allowing it to stabilize, as petroleum product imports account for up to 40% of Nigeria’s import bill, according to Central Bank of

Nigeria,CBN. With local production and distribution, the excessive pressure on the naira is expected to diminish as the country achieves energy security and is no longer forced to rely on imported petroleum products. This shift is anticipated to contribute to further economic improvements, providing relief and growth that will help alleviate the hardships currently faced by many Nigerians.

Moreover, according to data from NNPC Ltd., Nigeria’s crude oil production—the nation’s main source of foreign exchange—has recently increased to approximately 1.7 million barrels per day. This is a rise from about 1.2 million barrels per day at the beginning of the current administration roughly seventeen months ago. As a result of this situation, foreign exchange inflows into the economy, which had previously been minimal, are anticipated to improve significantly.

Evidence of the longstanding relationship between the UK and Nigeria, rooted in their colonial past which makes them seem co-joined in the hip, despite the ongoing reforms can be seen in the presence of numerous energy and consulting firms that continue to operate in the sector. In light of the above reality, notable UK-based oil and gas service companies, such as Schlumberger, Halliburton, and Baker Hughes, along with consulting firms like Accenture, McKinsey, and BCG, all maintain energy practices in Nigeria. In the real estate sector, UK firms like Knight Frank, Savills, and CBRE remain active players in the Nigerian market.

The media and advertising industries also feature a robust presence, with entities such as BBC World Service Nigeria, CNN International Nigeria(regional headquarter in london), and UK-based advertising firms like WPP, Omnicom, and Publicis Groupe all operating in Nigeria and collaborating with local companies.

Given the substantial number of UK firms still operating in Nigeria, it raises questions about the outcry regarding foreign firms leaving the country, which seems to stem more from political fearmongering by those who lost in the 2023 presidential elections and their supporters on social media.

The complexities surrounding the pricing and distribution of petrol produced in Nigeria, following the commencement of operations at Dangote Refinery about a month ago, have shifted public sentiment from celebration to disappointment. Many Nigerians are grappling with the realization that refining crude oil locally does not necessarily lead to lower pump prices compared to imported petrol. Although pump prices may not decrease in the short term, the involvement of Nigerian indigenous investors in crude oil refining has its benefits.

In addition to the jobs created by Dangote and other privately owned refineries, the shutdown of several European refineries that previously exported refined petroleum products to Africa, including Nigeria, indicates a positive shift in local employment. This significant development, marked by the participation of indigenous investors in crude oil refining, is expected to alleviate pressure on the naira and strengthen its exchange rate as the demand for foreign exchange to import refined products declines. According to sources from the Central Bank of Nigeria (CBN), refined petroleum imports and gas constituted about 40% of the nation’s import bill before the emergence of Dangote Refinery.

However, the ongoing crisis regarding the pricing and distribution of refined petroleum products in Nigeria has also highlighted the rentier nature of the country’s economy, a characteristic that traces back to the initial arrival of Europeans and their establishment of ties with Africa.

To provide historical context, it’s important to remember that Portuguese explorers were the first Europeans to establish contact with Africa, including Nigeria before others arrived. This occurred during the Age of Exploration in the 15th and 16th centuries when Portugal became the first nation to dock in the ancient Benin Kingdom.

Their primary motives for engaging with West Africa were exploration and trade. Historical records indicate that Prince Henry the Navigator of Portugal (1394-1460) sponsored voyages to explore the western coast of Africa in search of trade opportunities.

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