FRIDAY 14TH OCTOBER 2022

Nigeria Has Not Approached Us for Debt Restructuring, Says World Bank President Ahmed recants, says govt not seeking debt restructuring, but renegotiation to allow fiscal space Emefiele upbeat about inflation easing FG: With oil industry struggling, Nigeria must diversify economy Emmanuel Addeh in Abuja The President of the World Bank Group, Mr. David Malpass, yesterday disclosed that Nigeria was yet to approach the bank for

debt restructuring.

The World Bank president said this just as Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed, yesterday recanted, saying the country was

not seeking debt restructuring, but was looking at options, including how to buy back some of its bonds.

Also yesterday, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele expressed

optimism that Nigeria’s Consumer Price Index (CPI), which is used to gauge inflation in the country would decelerate from its present rate of 20.52 per cent.

Malpass explained that the

bank works closely with the International Monetary Fund (IMF) on issues that have to do with debt relief, under the G20 Common Framework process.

The statement by Malpass, who

was responding to a THISDAY’s question during a media briefing at the ongoing IMF/ World Bank annual meetings in Washington Continued on page 5

Jonathan Endorses Atiku/Okowa Presidential Ticket, Says Delta Governor is Incoming Vice President... Page 46 Friday 14 October, 2022 Vol 27. No 10045. Price: N250

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Appeal Court Discharges Kanu of Terrorism Charges Says trial court lacks jurisdiction due to faulty extradition process Malami: IPOB leader not acquitted Alex Enumah in Abuja and David-Chyddy Eleke in Awka The Abuja Division of the Court of

Appeal, yesterday, discharged leader of the proscribed Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu, of the 15-count terrorism

charges brought against him by the federal government.

The appellate court, in a unanimous decision, faulted the

process through which Kanu was brought before the Federal High Court to answer to a 15-count terrorism charges.

The news of Kanu’s discharge caused wild jubilation in Awka, the Anambra State capital, as his supporters celebrated the ruling.

But Attorney General of the Federation and Minister of Justice, Continued on page 5

Thousands of Jobs at Risk as Kogi Orders Dangote Cement to Shutdown Within 48 Hours In apparent shakedown, state government relying on resolution of Assembly which has no force of law

AIbrahim Oyewale, Lokoja Kogi State government has directed the Dangote Group to ensure its cement factory at Obajana is shut down within the next 48 hours in honour of the State House of Assembly which ordered the company to sealed until the conglomerate furnishes it with the requisite documents demanded by the legislature, putting at risk thousands of jobs in the process.

Unfortunately, thousands of indigenous Kogi whose means of livelihood are dependent on the company will be affected.

And from all indications, the state government doesn't seems to reckon with that implication.

The state government acting under the pretext of enforcing the resolution of the state house of assembly gave the directive yesterday.

The action of the state government since the dispute between it and Dangote Industries started has baffled many in the business community who have frowned at its resort to self-help and muscling tactic. Coming from a state with very little private sector

has bemused many watchers of the developments from Kogi, who are inferring that this may be an apparent shakedown of the Dangote Group.

The government's zeal to enforce the State Assembly's resolution has no precedent in the state particularly under the current administration. It is not known to have enforced any resolution passed by the same Assembly in the past. Its determination to shutdown such a massive factory in its domain that goes to the core of the nation's economy is bound to shake investors' confidence in the country and raises disturbing questions about adherence to due process of law in conflict resolutions in the country.

Generally, Assembly resolutions are advisory and carry no force of law, but this time, the state government is exhibiting unusual zeal to enforce the resolution.

The directive to shutdown the cement company was contained in a press statement signed by the State’s Commissioner for Information and Communications, Continued on page 5

Tambuwal: PDP Campaign Not Suspended, People STATE OF WORLD ECONOMY ON THEIR MINDS... of the European Central Bank, Christine Lagarde and Governor, Central Bank of Nigeria, Godwin Emefiele at the on-going Just Trying to Throw Spanner in the Works... Page 6 President Annual Meetings of the International Monetary Fund/World Bank Group in Washington DC...yesterday

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PAGE FIVE NIGERIA HAS NOT APPROACHED US FOR DEBT RESTRUCTURING, SAYS WORLD BANK PRESIDENT D.C, was contradiction with Wednesday’s statement by Ahmed that the country was seeking debt restructuring from the World Bank and the International Monetary Fund (IMF).

Ahmed had said: “We have been engaging financial institutions to look at the opportunity to restructure our debt to further stretch the debt service period to give us more fiscal relief. Those are some of the things we want to achieve in this meeting.”

Speaking during the media briefing, Malpass said: “With regard to debt restructuring, the World Bank works very closely with the IMF on debt situations, Nigeria has not asked for the Common Framework under the G20 process. That process has been slow, acting in Chad, Ethiopia, and Zambia and there are some signs of movement on Zambia, but it's still challenging.

“So, Nigeria and Ghana, both did not ask for a common framework treatment. Kristalina Georgieva (IMF Managing Director) and I were talking yesterday with the group about if countries could have a situation where the common framework is paused or allowed the country to have a standstill on their debt.

“That would help the countries choose their path forward on debt restructuring and that would mean they would get a break on debt payments while they're working out a restructuring agreement with the world. But Nigeria didn't go, it hasn't gone that route.”

The Common Framework deals with insolvency and protracted liquidity problems, along with the implementation of an IMFsupported reform program. G20 official creditors—both traditional “Paris Club” creditors, such as France and the United States, and new creditors, such as China and India, which had overtaken the Paris Club as lenders in the last decade — had agreed to coordinate to provide debt relief consistent with the debtor’s capacity to pay and maintain essential spending needs.

The Common Framework requires private creditors to participate on comparable terms to overcome collective action challenges and ensure fair burden sharing.

But so far, according to a report obtained on the IMF’s website, only three countries—Chad, Ethiopia, and Zambia—had made requests for debt relief under the Common Framework and this had experienced significant delays.

Nigeria’s debt stood at N41.60 trillion as of March this year.

Malpass also reiterated the need for Nigeria to gradually phase out petrol subsidy.

He said: “With regards to subsidies, to the extent that governments can have them be smaller meaning that if you're putting a cap on gasoline prices, don't make that a nominal cap in the local currency terms, but allow it to be reduced over time.

“So, the challenge for Nigeria is that the subsidies are so large that they undermine the revenues

coming to the government from the state-owned oil company.

Nigeria is actually in a concerning situation because the increase in the oil prices that occurred earlier this year actually ended up hurting the finances of Nigeria because of that large subsidy that's provided.”

Furthermore, he restated that multiple exchange rates remains a challenge for Nigeria, saying it was hurting capital flows into the country as well as foreign direct investment. He called for ease in trade policies to avert Nigeria’s protectionist approach.

He added: “Some of the challenges in Nigeria that I've talked about and been involved with them for some time is the dual exchange rate or the multiple exchange rates that are used which makes it very hard to have capital flowing in an efficient way within the country.

“Also, the trade policies tend to be protected on the import side and restrictive on the export side. So we would work with the IMF on an assessment of the debt sustainability of Nigeria, but then it would also be up to Nigeria itself to interact with the various creditors, which include bondholders and includes official creditors that are engaged, in Nigeria.”

But in her contributions during a ‘Debate on the Global Economy,’ which featured the IMF Managing Director, Kristalina Georgieva; a renowned Egyptian-American economist and businessman, Mohamed Aly El-Erian; among others, Ahmed explained: “We are actually feeling the pressure, the market costs are too high for us to come out. We would explore the market in the near future and also because inflation is going up and is going to stay up for longer and also our debt service obligations in foreign currency are increasing.

“And what we have decided to do is not to wait for it to happen we have to start looking at how do we better manage our liabilities. For example, our domestic liabilities will be able to shift our loans from short-term to medium and longer-term tenors.

“We have to do the same for international borrowings as well, bilateral loans, and even some concessionary loans that the periods could be stretched to give us more fiscal room while we are working to increase revenue.

“To improve on our revenue to debt service, you still need to be able to renegotiate and stretch out repayment implications. So, we are not restructuring our loans, but we are looking at options of how we can stretch out including buying back some of our bonds when we have the resources to do that.”

In her remarks during the session, the IMF Managing Director said: “When you see the dark clouds on debt financing, don’t wait. Look at ways in which you can extend maturities, you can improve the matching of currency obligations with what you are earning yourself. In that sense, what Nigeria is doing in this current environment is exactly

what you should be doing.”

Earlier, during a separate media briefing on the IMF’s ‘Global Policy Agenda,’ Georgieva noted the urgent need to support lowincome countries who have huge debt burdens in order to avert an impending food crisis.

She said: “We also must support vulnerable emerging markets and developing countries. It is tough for everybody, but it is even tougher for countries that are now being hit by a stronger dollar, high borrowing costs, and capital outflows.

“A triple blow that is particularly heavy for countries that are under a high level of debt. So zeroing in on this for low-income countries where over 60 per cent are at or near debt distress is paramount.

And we need stronger efforts to confront food insecurity.

“In all, 345 million people are acutely food insecure. What it means is that there are children and women and men are at risk of dying because of hunger.”

Emefiele Upbeat about Inflation Easing Meanwhile, Emefiele has predicted that inflation rate in the country would decelerate.

The Divisional Chief Research Department, IMF, Daniel Leigh had said: “For Nigeria, in particular, we forecast inflation at about 19 per cent this year, but then some moderation next year down to 17 per cent, and part of that does reflect the monetary policy actions

by Nigeria’s Central Bank as well as the decline that we expect in oil and food prices globally.”

Inflation in Nigeria is presently at 20.52 per cent. The CBN had last month raised the Monetary Policy Rate (MPR), otherwise known as interest rate, by 150 basis points, to 15.5 per cent from 14 per cent.

Speaking in an interview in Washington DC, the CBN governor who was reacting to the prediction by the IMF that Nigeria’s CPI would commence deceleration before the end of the year said: “I must say that even at these meetings, it is very clear that inflation risk is heavily elevated and for us in Nigeria, we believe that inflation at 20.5 per cent in the month of August was a very high one and that is why you have seen that monetary policy had taken some very stern positions to aggressively tighten not just through monetary policy rate but also by tightening, to see how we could take liquidity out of the vaults of the banks.”

He added: “We are delighted that people are beginning to see that these tightening effort would yield results. For us, 17 per cent looks good, but we believe that with what we are doing at the monetary policy, that our tightening effort would help to control demand and effectively lead to a further reduction below 17 per cent.”

Also reacting to the commendation by the IMF on the CBN’s monetary policy stance, Emefiele said: “It is really very heartwarming because they have

THOUSANDS OF JOBS AT RISK AS KOGI ORDERS DANGOTE CEMENT TO SHUTDOWN WITHIN 48 HOURS Kingsley Fanwo, copy of which was made available to journalists in Lokoja, yesterday.

In the statement, the Governor of Kogi state thanked the people of the state for, “their resoluteness in the ownership impasse between the Dangote Group and the state government.”

It added: “While the state government recognises the right of the citizens to peaceful protest as we witnessed across the state yesterday; we urge the people to remain civil, law abiding and give room for constitutionalism.

“Breakdown of law and order will not be in the interest of anyone as we hope to remain the most peaceful state in Nigeria.

“To this end, the governor has directed that trucks loading cement that are impounded across the state be released with immediate effect

to either return to the plant or go to their destinations peacefully.

“As a state, we must retain the peaceful and business friendly environment that have attracted scores of investment giants to the state in the last seven years.”

Furthermore, the governor urged, the management of “Dangote Group to ensure the cement factory at Obajana is shut down within the next 48 hours in honor of the legislative arm of government which ordered the plant sealed until the Dangote Group furnishes the legislature with the requisite documents demanded by the legislature.”

“As a government, we will defend and protect all Government institutions against impunity.

“The governor also wishes to assure the people of the state of his unwavering commitment to

defending their interest without compromise. As the face of the struggle with the over four million Kogites behind him, he will ensure the interest of the state is defended with a high sense of integrity, responsibility and allegiance through democratic instruments.

“We call on the people to remain calm and law abiding as well as continue to have faith in the leadership of the governor to deliver on the mandate of the people to take back what belongs to them.

“We also urge security agents to be on red alert to prevent anarchy in the face of the boiling anger of the people against exploitation and oppression. We can only win the battle ahead with cool heads.

When our people come together like we are now, all we can do is win,” the statement added.

seen that we are doing something that is in line with what the global central banks are doing in the area of tackling inflation.

“It is heartwarming and we can only continue to do what we are doing because it would give us the confidence to know that the action, we are taking is actually going to yield results and we can only continue to push in that direction.”

Also, in his reaction to the advice by the World Bank President for the CBN to unify exchange rates, he said: “At every point when we come into these meetings, they tell us to go back home and adopt home-grown policies.

“We cannot be accused of not doing what they want which is to take decisions on how to handle the exchange rate management.

We are going to be looking at them and even be thinking of the right time to do what they are suggesting, otherwise if you do it exactly when they want, it may turn out to be very hurtful to the Nigerian economy.”

FG: With Oil Industry Struggling, Nigeria Must Diversify Economy or Face Further Headwinds Meanwhile, the federal government yesterday acknowledged that with the current challenges in the oil and gas sector, the only way out was to diversify the economy or face more future headwinds.

Speaking during an event to mark the 50th anniversary of

the Petroleum Training Institute (PTI) in Abuja, the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, stressed that the oil and gas industry in Nigeria has continued to suffer because many things were left undone.

Nigeria has under-produced its Organisation of Petroleum Exporting Countries (OPEC) oil quota for over a year, a development that has negatively affected the economy.

The situation got worse in September, with the nation barely able to produce half of its allocation and falling to a multi-decade low of 927,000 barrels per day, according to figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

“Going forward, we must make sure that our dependence on oil and gas and even as we move and transit as a country and as a people, there must be a resolve on our path that this God-given resources are protected and used for the benefit of our people.

“As a country, we are paying dearly for having not taken care of certain things in the past. The country is struggling to ensure that the economy is diversified in a manner where the total dependence that we have had had in the last 50 years on resources coming out of our extraction of oil and gas is sustained and that our economy does not crumble.

“Diversification is the only way to go and I believe that with the work that is going on at the institute and majorly with our flagship, the Nigerian National Petroleum Company

Limited (NNPC) collaborating with other players in the sector, we will be able to transit in this energy environment, providing for our people and ensuring that the environment is protected and not degraded,” he stated.

He noted that the current global demand for cleaner fuels, decarbonisation as well as strategies to key into the decade of gas, among others, should be the preoccupation of the institute in the coming years.

"It is appropriate at this time for the institute to reassess its relationship with the major players in the industry such as the NNPC limited and the private sector in relation to its capacity for making their demand for training a reality,” he added.

Mustapha stated that the institute must seek answers to the prevailing questions in the industry, especially on human capital development and sustain its engagement with industry players.

He urged the institute to strengthen its relationship with sister agencies and seek interagency collaboration to deliver on its mandate which will enhance the local content aspiration of the country.

The SGF called on the private sector to take more than a passing interest in the institute because of the relevant role it plays in the energy sector.

He stressed that the 50 years anniversary was worth celebrating in view of what he described as the remarkable accomplishments of the institute.

Continued on page 47

APPEAL COURT DISCHARGES KANU OF TERRORISM CHARGES Mr Abubakar Malami, SAN, reacting to the judgement of the Court of Appeal, clarified that the detained IPOB leader was only discharged and not acquitted by the court Acquittal is a verdict by the judge that the accused is not guilty of the offence he is charged with, while discharge means releasing a person from custody or allegation due to insufficient grounds to proceed with the case.

The appeal court ruled that the arrest, abduction and subsequent arraignment of Kanu before a Federal High Court violated international convention on terrorism and, thus, robbed any court of law in Nigeria necessary jurisdiction to entertain the suit.

Justice Adedotun Adefope-Okijie, who read the judgement of the three-man panel, noted that there was nowhere the federal government showed it complied with the procedures for the extradition of the IPOB leader from Kenya last year.

The appellate court listed the conditions, according to the Organisation of Africa Unity (OAU), which a state must meet to include a formal application for extradition to the host country, permission from court, and statement of the alleged offences in connection with the extradition request amongst others.

The court explained that the requirements were aimed at ensuring that people were only extradited after full conviction of alleged committal of an offence and not for any other purpose.

She held that Nigeria must learn to play by the rules and that the courts owed the country and people a duty to ensure that the executive abided by the law at all times particularly, when the country was a signatory to such laws.

While noting that the court might not have the powers to dictate to the executive, Adefope-Okijie saidit could prevent the executive from abusing the law, adding that courts should not be shy to always call the executive to order.

The appellate court, in its judgement, further held that the trial court ought to have evaluated the circumstances under which Kanu was brought into the country to continue his trial.

The three-man panel said the issue of jurisdiction raised by the appellant was one that was critical to the case, which the court ought

to have resolved first.

While stating that the issue of jurisdiction was properly raised before the trial court, Adefope-Okijie observed that the trial court turned a blind eye to it.

She stated, "The lower court must pronounce properly on all issues presented before it. The trial court ought to have made findings on the issue raised regarding the extradition."

The judge added that the lower court had no jurisdiction to try the respondent in the retained charges.

"No court can try him going by the circumstances of the extraordinary rendition," the court held.

According to the judgement, the federal government violated international convention on terrorism, which it was a signatory to, when it illegally arrested Kanu in Kenya and extraordinarily brought him to Nigeria for trial.

The appellate court held that the warrant of arrest issued against Kanu was not enough reason or excuse for the government to violate international convention and charters.

Having resolved issue one in favour of the appellant, which deals with jurisdiction, the appeal court said the order of Justice Binta Nyako, which ordered the appellant to answer to counts 1, 2, 3, 4, 5, 8 and 15 was set aside, terminated and dismissed.

"Appellant is accordingly discharged," the appellate court held.

Kanu had faulted the order of Nyako of a Federal High Court, Abuja, which had in April this year ordered him to respond to seven out of the 15-count terrorism charge against him.

Nyako had while ruling in Kanu's application challenging the jurisdiction of the court as well as the competence of the charge struck out eight of the charges for being incompetent and lacking merit.

In arguing the appeal, Kanu's lawyer, Chief Mike Ozekhome, SAN, told the three-man panel that Kanu was first arraigned on December 23,2015, and granted bail on April 25, 2017.

Ozekhome explained that agents of the federal government (the respondent) had launched a military operation, code-named "Operation Python Dance" at the

appellant's home town in September 2017, which forced him to escape out of the country, to Israel, then London.

The senior advocate recalled that on June 27, 2021, "The federal government forcefully arrested Kanu in Kenya and renditioned him back to Nigeria ‘in most cruel and inhuman manner’”.

Ozekhome submitted that going by section 15 of the Extradition Act, "Kanu is not supposed to be charged without the approval of Kenyan government.

In addition, Ozekhome argued that when charging for an offence, "you must mention the particulars and location where the office was committed.

"But in this case, the appellant was charged without stating where the offence was allegedly committed.”

He therefore, contended that by section 45 (a) of the Federal High Court Act, with regard to criminal charge, the trial court does not have "global jurisdiction".

He insisted that there was no need for the Federal High Court to retain the remaining seven counts, and, therefore, urged the panel to take over the charges and strike them out.

The senior lawyer also asked the appellate panel to hold that the respondent had not furnished the court with any prima facie case against the appellant for which he is being charged.

In his reacting, the federal government's lawyer, Mr David Kaswe, asked the court to dismiss the appeal for lacking merit.

But the court today agreed that Kanu's extradition was illegal and as such, robbed any court necessary jurisdiction to entertain the suit.

Jubilation in Awka There was jubilation in Awka, the Anambra State capital, over news of Nnamdi Kanu’s discharge of terrorism charges.

At Amawbia and UNIZIK junction in Awka, THISDAY noticed wild jubilation among some residents of the area over the news of the discharge of the IPOB leader.

In a motor park at UNIZIK junction, Awka, some operators and drivers were seen jubilating and celebrating with alcoholic beverages.

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NEWS

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

LAUNCH OF STATE OF ENTERPRISE REPORT...

L-R: CEO Imperial Asset Managers, Mr. Tayo Akintan; Group CEO Nigerian Exchange Group, Mr. Oscar N. Onyema; MD/CEO FBNQUEST Merchant Bank Limited, Mr. Kayode Akinkugbe; , Of-Counsel, Aluko & Oyebode, Mr. Gbenga Oyebode; CEO EnterpiseNGR, Ms. Obi Ibekwe; Chairman EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede; MD/CEO Coronation Merchant Bank Limited, Mr. Banjo Adegbohungbe; DMD Access Bank, Ms. Chizoma Okoli; GMD Investment One, Mr. Nicholas Nyamali; Partner PwC Nigeria, Mr. Uyi Akpata; Partner Templars, Mr. Olumide Akpata; Chairman Tangerine Africa, Mr. Eric Idiahi, and GMD Meristem Securities Limited, Mr. Wole Abegunde, at the launch of The State of Enterprise Report 2022 in Lagos…recently

Tambuwal: PDP Campaign Not Suspended, People Just Trying to Throw Spanner in the Works South-south governors set up panel of four to meet Rivers colleague Wike insists refusal to give up party chairmanship to south is recipe for crisis We don’t want to be short-changed again, Ayu declares Nigerians want a country that works, Atiku campaign maintains Chuks Okocha in Abuja, Okon Bassey in Uyo and Blessing Ibunge in Port Harcourt Director General of the Peoples Democratic Party (PDP) Presidential Campaign Council and Governor of Sokoto State, Aminu Tambuwal, yesterday, denied reports that the presidential candidate of the party, Atiku Abubakar, had suspended his campaign to appease the aggrieved Rivers State Governor Nyesom Wike and allies.

Tambuwal, who spoke with a degree of authority, said the reports were the handiwork of mischief-makers determined to throw a spanner in the works by trying to dampen the interest of PDP members.

The campaign council Director General's comments came as four PDP governors in the South-south

were appointed to appeal to Wike to support Atiku in next year’s election.

The governors were Udom Emmanuel (Akwa Ibom), Douye Diri (Bayelsa), Ifeanyi Okowa (Delta), and Godwin Obaseki (Edo).

But Wike insisted that the refusal of PDP leaders to cede the national chairmanship of the party to the south was recipe for crisis.

In a related development, the national chairman of PDP, Dr. Iyorchia Ayu, yesterday, cautioned the federal government under the All Progressives Congress (APC) against compromising the integrity of the 2023 general election. Ayu said the main opposition party did not want to be short-changed again.

That was as the Atiku-Okowa Presidential Campaign Council said Nigerians were not interested in intra-party wrangling but in how

to get the country working again.

Some reports had claimed that the suspension of the PDP campaign was to give room for a special intervention by former Senate President David Mark; former governor of Rivers State, Dr. Peter Odili; and his Delta State counterpart, James Ibori. The three men were, allegedly, selected to try to pacify Wike and his associates, and persuade them to participate in the PDP presidential campaign.

But speaking with newsmen, Tambuwal said, “We had a very impressive outing in Uyo, Akwa Ibom State, on the 10th of this month by launching and flagging off our campaign for Atiku/Okowa 2023 under the platform of the Peoples Democratic Party (PDP).

“I was amazed and taken aback last night, when I saw on the social media and on very many platforms

that we’ve called off our campaign.

That is far from the truth. In fact, it is fake news. Our campaign is continuing, by the grace of God, on Monday. And we hope we are able to convince Nigerians to vote for Atiku/Okowa come February 2023.”

The Sokoto State governor assured that the campaign team would replicate the kind of scenario it had in Akwa Ibom, where thousands of party supporters turned up for the kick off of the presidential rally.

According to Tambuwal, “People are looking forward to our coming to states, capitals and villages because PDP is the party to beat in 2023. Other parties are afraid, because they have not started (their campaigns). None of them has composed their campaign councils, not to even talk of starting. They

Floods: NEMA Commences Transportation of 12,000 Metric Tonnes of Items to Affected States Seeks DSS, Police assistance to clear Lokoja gridlock Kasim Sumaina in Abuja The National Emergency Management Agency (NEMA) yesterday disclosed its commencement of the transportation of relief items from the National Strategic Reserve to all the states affected by flood in Nigeria The items, NEMA stated would also be presented to the state government for distribution to vulnerable Nigerians.

Speaking to journalists after the 2022 International Day for Disaster Risk Reduction event organised by NEMA in Abuja, the Director General, Mustapha Habib Ahmed disclosed that President Muhammadu Buhari has also approved the release of 12,000 metric tonnes of assorted food commodities from the National Strategic Reserve for NEMA to distribute across the states to vulnerable Nigerians.

Reviewing the on-going flood situation in the country, Ahmed acknowledged that NEMA and its partners were grappling with

large scale flood disaster across the country which more than 500 lives have been lost.

"Several properties destroyed and a large number of persons displaced in some of the disaster hotspots," he said.

Ahmed said the relief materials would provide succor to persons affected by flood across the 36 states and Federal Capital Territory (FCT).

He assured that the relief delivery would soon be completed to all other states this weekend, saying efforts have been made to address some challenges encountered in movement of the items due to condition of the roads that were covered by flood.

The NEMA Director General however said: "We have some hiccups along the way in Lokoja. I have alerted the DSS and Inspector General of Polic to help us in clearing the way so that relief items can continue to get to all relevant states."

In a remark at the event, the Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Umar Farouq

said all efforts must be made to address the challenges of flood situation in the country.

Commenting on the present flood situation, she said, "as a matter of fact, the scale of devastation can only be compared to the 2012 floods.

“More than 500 lives have been lost, more than 1.4 million persons affected, about 90,000 homes either partially or completely destroyed; and still counting.

“And also destroyed are thousands of hectares of farmland; thus, worsening fears of a disruption of food supply in Africa's most populous country.

These widespread cases are in 27 out of 36 States and the FCT.” Farouq, represented by Director in the Ministry Alhaji Ali Grema, also said, “as we reflect on the present flood situation in Nigeria, let's consider the focus of the 2022 IDDRR. Did we not have enough warnings or was our predictions and flood outlook wrong? Did we not act enough to prevent or mitigate what we are confronted with today?

“While we shall not apportion blames, we need to acknowledge the fact that we all had enough warning and our advocacy was timely. However, communities must recognise that all disasters are local and they must take climate predictions and flood outlooks warnings seriously.

“We can't out rightly eliminate flood, but we can keep people safe.

That responsibility is collectively ours,” she added.

She also said that her ministry and all relevant stakeholders were working on implementation of the National Flood Emergency Preparedness and Response Plan that was recently approved by the Federal Executive Council.

"The plan stipulates specific roles and actions for all (including National, State and Local Governments as well as households, communities and pressure groups).

“The Ministry considers the importance of preventing deaths and loss of lives in a disaster that is predicted and occurs every year," Farouq said.

are trying to throw a spanner in the works.

“They will not succeed. It is one of those shenanigans, when you see a party doing well and its candidate is better than yours.

What you begin to do is to cause mischief. It is not going to work.

“We’ll run our campaign, as I said before, it is going to be issue-based. We believe there are sufficient problems bedevilling our country. I believe in the candidature of Atiku and Okowa. I also believe that when we get there, we shall do better for Nigeria.”

Meanwhile, the move by the South-south governors to appeal to Wike to sheathe his sword was contained in a communiqué from a meeting of the governors’ forum hosted in Uyo by Emmanuel.

Tambuwal was there at the meeting of the four South-south governors.

Others at the meeting were the past governors of Cross River, Liyel Imoke; Edo State, Lucky Igbinedion; Rivers State, Celestine Omehia; immediate past national Continued on page 48

Buhari to Gulf of Guinea Member-states: Pay Up Your Annual Contributions for Body to Fulfil Its Mandate President completes tenure as commission’s chair Deji Elumoye in Abuja President Muhammadu Buhari has made a passionate plea to member-states of the Gulf of Guinea Commission (GGC) to remit their outstanding Annual Assessed Contributions to the Secretariat.

According to him, the continued non-payment of dues by most member-nations had greatly affected the ability of the Commission to fulfil the mandate for which it was established in 2001.

The president, according to a statement issued yesterday, by his Media Adviser, Femi Adesina, made the appeal in Abuja, during a virtual meeting of the Heads of State and Government of Member States of the Commission, convened to review progress on efforts to deal with the maritime challenges in the region.

Buhari said the inability of member-states to pay their assessment was threatening the continued existence of the Commission.

He also called for urgent collective action against the dangers and threats affecting maritime security in the Gulf of Guinea Region.

Buhari told the Summit that Nigeria considers the effective functioning of the GGC as strategic to the collective security interest in the Gulf region, particularly in addressing issues such as piracy, proliferation of Small Arms and Light Weapons, protection of

marine resources as well as irregular migration to the region.

He said: "As a demonstration of our firm commitment towards the repositioning of the GGC into a more vibrant organisation that will effectively deliver on its mandate, Nigeria hosted the 4th Ordinary Summit of the Assembly of Heads of States and Government of the Gulf of Guinea Commission (GGC) from 21st – 23rd November, 2017 in Abuja.

"In addition, Nigeria hosted the 11th Ordinary session of the Council of Ministers of the Gulf of Guinea in Abuja, from 19th to 20th November, 2019 as part of our efforts to revitalise the activities of the Commission.

"These sessions observed, inter alia, that non-payment of Assessed Contribution by majority of the GGC Member-States to support the Commission’s operational budget has seriously affected the effective delivery of the organisation’s mandate.

"Meanwhile, Nigeria has championed several efforts towards fighting maritime insecurity in the Gulf of Guinea,” the president said, highlighting that in June 2019, Nigeria’s National Assembly passed the Suppression of Piracy and Other Maritime Offences Act, 2019, (POMO Act) which aims to prevent and suppress Piracy, Armed Robbery and any other unlawful acts against a ship.

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LAGOS SEALS DEAL WITH DELYORK...

L-R: Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo; Commissioner for Economic Planning and Budget, Mr Sam Egube; his counterpart for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yusuf; Governor Babajide Sanwo-Olu; Chairman/CEO, DelYork Group International, Mr. Linus Idahosa, COO of Del-York Group, Mr Ikenna Oguike; Mr. Grant Housley, and E1xecutive Director, DelYork Creative Academy, during the signing of Memorandum of Understanding on the Lagos Film City at the closing ceremony of the Lagos Economic Summit, Ehingbeti 2022 held in Lagos…yesterday

Lagos Receives Approval for $2.5 Billion Deep Seaport Project Signs MoU with Del York to build media, film city Segun James Lagos State government has received the approval of the federal government for the Badagry Deep Seaport Project The State Governor, Babajide Sanwo-Olu disclosed this at the Lagos Economic Summit, #Ehingbeti 2022.

The approval authorises and provides legal basis for the concession of the Badagry Deep Seaport, following the issuance of the Full Business Case Certificate by the Infrastructure Concession Regulatory Commission (ICRC) last April.

The $2.5 billion project, which would be funded through Public Private Partnership (PPP), would be built on approximately 496 hectares.

It wouls have 2,470m quay length container terminal, 560m quay length break bulk terminal, 360m quay length OSB terminal and minimum of 18m depth.

It was expected to generate 250,000 direct jobs, enhance Government revenue and operate under a Build Operate and Transfer (BOT) concession agreement.

Sanwo-Olu signed also a Memorandum of Understanding (MoU) with Siemens Energy Limited and German-owned Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to set up an

Energy Training Centre of Excellence at the Government Technical College in Ikorodu.

The training, which would be conducted in collaboration with the Lagos State Technical and Vocational Education Board (LASTVEB) would provide a Needs-based technical and vocational education to over 16,000 young people between ages 15 and 35.

The programme was expected to produce highly skilled industry technicians with modern practiceoriented.

Sanwo-Olu said a 30 per cent slot would be allocated to female candidates to enhance women participation in engineering education.

The Governor said: “We are excited that Lagos is on the way to having another deep seaport on the Western side of the city.

Before the end of this year, we will be commissioning the Lekki Deep Seaport on the Eastern side.

What it means is that, what we have been suffering as a logistics and commerce hub of West Africa will be addressed when we increase maritime infrastructure that improves turnaround time in this sector. With this, Lagos is assured to remain the economic and commercial nerve centre of the entire sub-Saharan Africa.

“The deal with Siemens and GIZ,

which are German companies, is another promise made and promise kept. We gave a commitment to this partnership because of the conviction we have for its necessity. Thousands of Lagosians will be trained with industry-required skills for the future of work at our Vocational Training College. We are excited because we are not only transferring skills to people in Government, but private citizens as well. The best technicians in Germany will be conducting these trainings.”

Sanwo-Olu also approved an Executive Bill titled “Lagos State Wealth Fund (LSWF)”. Lagos is set to becoming the first sub-national entity in the country to introduce the bill, which the Governor said would reinforce the State Government’s commitment to prudent management of resources and the delivery of shared prosperity to generations of Lagosians.

According to Sanwo-Olu, the bill has four main objectives, which include creating an accessible savings for Lagos in times of dwindling revenues, accelerating development and the delivery of critical infrastructure, stabilising the economy of the State by protecting its revenue from external shocks, and promoting investment and research in technology and innovation.

The bill, the Governor said, will be incorporated as a statutory entity

and will subscribe to the highest level of corporate governance. The bill is transmitted to the House of Assembly for legislative approval.

Sanwo-Olu also signed an agreement with Del York International Group for the entertainment giant to develop a purpose-built Lagos Film City and ancillary infrastructure to reposition Lagos as the hub of entertainment.

The signing of the Memorandum of understanding (MoU) with Del York, is for the development of an ultra-modern film and media city in Epe between the two parties.

The initiative was described as; a major game-changer project on the African continent and one that promises to position the state as a major hub for the entertainment industry in Africa.

The Chairman of Del York International Group, Mr. Linus Idahosa signed on behalf of his group and the commissioner for Tourism, Lagos, Mrs. Uzamat Akinbile-Yusuf signed on behalf of the Lagos State Government in the presence of the state governor.

Speaking at the signing ceremony, Sanwo-Olu shared his excitement at the prospect of the impending investment into the state, as he recounted the recent history of the project and the fact that the signing was the culmination of 18 months of diligent effort by the Del York

Nigeria Trapped by Elite Consensus Built Around Rent-taking, Says Oxford Economist Dike Onwuamaeze An economic expert has described Nigeria as a loser in the gamble on development among nations because of its elite consensus built around rent-taking from the proceeds of crude oil and persistent implementation of policies that are not altogether economically sensible.

This verdict was given yesterday, in Lagos by a Professor of Economic Policy in the University of Oxford, Prof. Stefan Dercon, during the launch of the State of Enterprise Report 2022 by the EnterpriseNGR. Dercon, who is the author of “Gambling on Development: Why some Countries Win and Others Lose,” also noted that the state of enterprise in Nigeria was bad because faulty policies were being implemented by politicians whose interests are not for development.

He said: “Nigeria is a looser in the gamble on development.

You have amazing enterprising individuals and dynamic businesses but Nigeria will top the league of

the most extreme poor people in the world and is in the company of Madagascar and Democratic Republic of Congo.

“When I observe Nigeria today I can only say that the state of Nigerian enterprises is really bad.

The state of Nigerian economy is really not very good. But the financial sector can survive because of its resilience.

“But you know that Nigeria is being left behind compared to other countries. The policies are really bad but that is one element of it.”

He identified the border closure that was implemented in 2019 till 2021, as one of such faulty policies, saying it was a snub on international trade.

Dercon, however, posited that the organised business community must accept it as their role to build the elite bargain that is pro-development by speaking in one voice and influencing decision makers to prioritise development.

He said: “But don’t abdicate responsibility from those who are actually creating wealth in this

country and actually adding value should not abdicate responsibility to actually playing that role as well.

“I do think from what I have seen in other countries that it is the business community that will indicate the lever of change because there is no politics without the business community.

“If you look at other countries, it is actually the business community that begins to speak in a unified voice. The business community will play a very central role in the elite bargain around promoting development and ensuring that growing the economy is the central thing to do.”

But the President and Founder of ANAP Foundation, Mr. Atedo Peterside, in his brief remark countered the opinion that Nigeria’s business community could champion the elite consensus that would deliver the required reforms for economic development.

Peterside said: “You were talking as if you thought that there is hope in our business sector in terms of bringing about reforms. I totally

disagree. I see no hope whatsoever.

The hope that we have in this country comes from the youth.

“There are two reasons. One, I think that there is a strong element of Stockholm syndrome at work the business community to which I belong, which is when a prisoner begins to love those who imprisoned him.

“The business community competes to fall in love with the people in government who have destroyed their businesses and their clients. So there is no hope there.

“We can streamline on the youths who are far more in number and have less to lose because he who is down needs fear no fall. The businessman fears to protect the small that he has. They may never bring any hope.”

On his part, the Chairman of EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede, stressed that the strength of the financial professional services was not in the individual, but in collaborative actions to build up men and women who will lead and operate the profession.

team and members of the Lagos State Government.

According to the governor: “I would like to thank the Del York Team for all their effort so far. I recall on my last visit to the United States, they took us on a tour of the Trilith Studios in Atlanta to see first-hand what they wanted to build in Lagos and subsequently to an investment summit in Washington DC to meet with investors for the project.

"We want to give Nigerians who are creatives an opportunity to develop themselves to world class stands and an ecosystem where they can learn, work and thrive in a serene atmosphere and I believe this project will achieve that to the benefit of all Lagosians.

"I thank all the traditional rulers in Epe for being such good hosts for the project and look forward to its positive impact on their community in Epe upon its completion."

The Lagos film and media city was envisioned as a sanctuary for leisure, entertainment, and learning; a place where film and all types of creative industry professionals can live, work, learn and play in a peaceful and conducive environment with best-in-class facilities intermingled with appurtenances that support a modern sustainable city.

Multiple sound stages, a technology park, a School of creative arts & entrepreneurship, a theme park, residential and commercial real estate, a Nollywood Walk of Fame, and Front & Backlot infrastructure for varied film environments are just some of the features that are promised on this major development that will no doubt put Lagos on the global creative industry map.

The project has been conceptually christened as “Kebulania” an expression coined from the word Alkebulan, an ancient reference to Africa. Pronounced “Alkebu-lan” meaning “mother of mankind” or “garden of Eden”- a reference to that place of vast potential, new beginnings, and new possibilities; strong foundational concepts on which the project is said to have been founded.

Speaking at the signing, Idahosa spoke of his group’s commitment to making the project a reality and the many milestones that had thus far been achieved towards its imminent delivery.

“This project has come quite a long way and the sheer effort and sacrifice that has seen it attain the level it has is a testament to the number of committed team members working round the clock to see it come to fruition.

CBN Begins Sensitisation of MSMEs on New Borrowing Schemes Adibe Emenyonu in Benin City The Central Bank of Nigeria (CBN) yesterday commenced a sensitisation programme for micro, small and medium sized entrepreneurs (MSMEs) on its new borrowing scheme which allows beneficiaries use movable items as collaterals for accessing loans from financial institutions.

During the sensitisation programme in Benin City, the Registrar, National Collateral Registry (NCR), Bullus Zgabawa Musa, said the scheme was to enable MSMEs have access to finances and reduce the challenges of collateral as a requirement for loans.

Represented by the Assistant Director in the CBN, Dr. XavierItam Okon, Musa said financial institutions were being carried along in the scheme, saying the programme was organised by the CBN in conjunction with SEDIN of Deutsche Zusammenarbeit (GIZ), a German agency.

He said “The country needs MSMEs more than ever before and the NCR was created in 2015 through the CBN and development partners.

“When you are in a position to go and borrow from banks and financial institutions, they require you to provide collateral and most times collaterals that are not movable but the NCR was created to deal with collaterals that you can easily move from place to place.

“With the NCR, you can use your farm equipment, your crops, your produce, your vehicle, your motorcycle, your trinkets and other things that you can still be useful while accessing the loans, that is what the law says.

“All you need to do is to walk to the financial institution, they will value what you are presenting and give you the loan. You can use the same item in more than one bank, but the only issue is that the first bank would enjoy the right to recover its loan from the collateral first before the other bank.

“The law allows you to continue to use the collateral while the loan is subsisting.”

Earlier, the representative of GIZ, Olawale Afolabi said GIZ has been in Nigeria since 1974, providing technical services for the efficient and survival of MSMEs

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NEWS

POWER SECTOR INVESTORS MEETING...

L-R: Managing Director,/ CEO, Rural Electricity Agency, Engr, Ahmed Salihijo Ahmad; Coordinator Power Africa, Mr. Mark Carrato; Director Power Africa-Nigeria Power Sector Program,(PA-NPSP) Mr. Tunde Gbajumo and Private Sector and Power Lead, USAID, Mr Brook Adam, during the off-Grid Donors/ Investors meeting at in Abuja ...yesterday ENOCK REUBEN

LCCI Calls for Privatisation of Power Transmission Says FG does not need to borrow to fund infrastructure

Dike Onwuamaeze Barely 24 hours after the federal government denied speculation that it was ready to privatise the Transmission Company of Nigeria (TCN), the Lagos Chamber of Commerce and Industry (LCCI) has called on the government to commence the privatisation of the transmission component of country’s electricity supply chain.

The Minister of Power, Mr. Abubakar Aliyu, had on Wednesday in Abuja, through his Special Adviser on Media, Mr. Isa Sanusi said, “the federal government has no intention to sell or privatise TCN and no one in the federal government has made a statement of intent on selling TCN.” Aliyu had clarified that, “currently, the federal government is investing and supporting efforts to make TCN a world-class transmission service provider.”

But the LCCI argued yesterday, during its quarterly press conference on the state of the economy, that there was no justification for the

government to keep on holding unto the transmission segment of the power sector except to allow vested interests to keep feeding fat at the expense of the country’s development.

This view was canvassed by the Deputy President of LCCI, Mr. Gabriel Idahosa, who stated that if the government had justifiable reasons to privatise the generation and distribution components of the electricity supply chain then the same government should also know that it has no compelling logic not to privatise the transmission component.

Idahosa said: “You will wonder the kind of logic that would justify that a government that privatised the power generation and distribution because it was not capable of running them should still decides to keep power transmission to itself.

“So, in plain language there is no justification whatsoever for government to want to keep on holding on to the transmission component. We have recommended that the government should

privatise the transmission segment.

“Why is the NLNG so successful?

It is because the federal government holds 49 per cent of its equity and gave 51 per cent to private operators in that industry that have the experience and financial and technical capacity in that industry.

“So the world sees it as an international oil and gas business and it has access to finance from anywhere around the world. The NLNG does not depend on the federal government’s budget for all the projects that it has done. And the different is that two per cent.

“If transmission is privatised today with 49 per cent in government hands and 51 per cent equity with experienced transmission grid operators in the world that have the financial and technical capacity to manage transmission grid around the world the story will become completely different.

“The reason why there are so many issues about transmission privatisation is that that is the only opportunity left for vested interests to operate in that sector.

“Nigeria can remove corruption just by policy reform as it happened with the telecom reform.

It is important to propagate that fighting corruption has more to do with policy reform than using the EFCC.” Idahosa also stated that the LCCI had been championing the need for government to embrace equity infrastructure financing rather than borrowing and accumulating public debts.

He said: “When the chamber is speaking about using equity, rather than borrowing, it is not a complicated matter. Nigeria does not need to borrow to make any rail line. We do not need to borrow to build airport.

“Most of these infrastructure are owned by private individuals, including Nigerians, in Europe. A Nigerian led business owns airport.

The same Nigerian led company bought a rail line in Italy. So, it is not necessary to borrow.

“When we say equity financing we mean that the government has built the Lagos-Ibadan railway line.

The government needs to remove

Ex-DSS Director Blames Oil Firms, Security Personnel, Others for Oil Theft Former top NNPC staff fingers lack of merit in appointments for headwinds Emmanuel Addeh in Abuja A former Director of the Department of State Service (DSS), Mr Mike Ejiofor, yesterday posited that all major stakeholders , including oil companies, security personnel, among others, were involved in the massive theft of Nigeria’s oil.

Speaking on Arise Television, THISDAY’s broadcast arm, Ejiofor described oil theft as a ‘franchise’ arguing that the reason it has become a big deal is because the thieves are producing more of the resource than the government of the day.

He narrated that when he was in service, several reports were prepared by him and submitted to the authorities, but lamented that the so-called ‘authorities’ who will read the report , were heavily involved in illegal oil bunkering.

Ejiofor also recalled his meeting with Government Ekpemupolo, also known as Tompolo, in the heat of the Niger Delta crisis, explaining that despite his report following the detailed interview with the former warlord, no action was taken.

“He (Tompolo) told me that he's not involved into bunkering and that all he was asking for was resource control and royalty for the communities where these oil

companies are operating.

“I said, Okay, do I have evidence of this. He gave me videos, write-ups, of how these things are organised. And I made my report to the headquarters. If you ask whether there was intelligence, the intelligence was available.

“But the problem is, what do the authorities make of this intelligence that was produced? Now my service will process the report to the appropriate authorities, and who is in charge of the authorities, the same people who are involved in the bunkering.

“So ever since then, there has been bunkering. That's why I'm surprised that people just came up with the information that it was nine years. How did you determine that it was nine years, the pipe that was punctured,” he maintained.

Stressing that there is no way a pipeline belonging to the Nigerian National Petroleum Company Limited (NNPC) would be vandalised without the national oil company knowing, Ejiofor explained that there was heavy connivance from top to bottom.

“This is a simple operation.

In the oil industry, in the central control room or the data room, where export is recorded, if there's a puncture on the pipeline, the

pressure drops to show there is a damage.

“So this is a deliberate act by a syndicate of both the oil companies, the military, and all the stakeholders who are involved and not necessarily the communities that are available. This is over 40 years. But why it has become a challenge now is that it has become a franchise.

“The thief should not have more than the owner, but now, the ‘bunkerers’ are having a greater share of Nigeria’s wealth than Nigeria itself and that’s worrisome.

It’s mindboggling,” he posited.

To buttress his point, Ejiofor cited an instance in about 2004, when he and a military officer, after getting reports about oil bunkerers and security officials planned to unravel their activities, but said that before action was taken, the information was leaked.

He added that it was thereafter that he received a call from Tompolo, about the botched invasion, wondering how the information became public knowledge.

Ejiofor said the oil theft was draining the country as revenue that should be used to develop Nigeria is going into private pockets, depriving most citizens of a good life.

Meanwhile, a former Group Executive Director Refining at the NNPC, Dennis Agulu, has blamed the lack of merit in appointments and recruitment into the NNPC as being responsible for the current downturn in the organisation.

Describing the current challenges as a ' fully integrated problem’, he noted that the gradual decline in the adherence to merit could be blamed for the situation.

“So the aggregate and the outcome of that is what we are seeing today, that we're not producing. It's a very complex thing, to in one very simple language present and then give us solutions to that kind of problem.

“The critical ingredient in these things is the human being. If the human being has more of the destructive impulse playing out, we're likely to have that. If we have the creative impulse playing out, then, of course, the impact results in outcomes that nobody likes to see, which is what we're seeing today.

“We need to look at ourselves again. We need to look at the things we derive value from. Where has merit gone in our country. Do we have a culture of merit? Or do we have a of culture of patting failure on the back and saying okay, good.

its management out of the Nigeria Railway Corporation, and call those that run the best rail lines in France to acquire 51 per cent and run it.

“It is not necessary for our government to be running around the world begging for loan for a country like Nigeria. It is not necessary. We have the fundamental market of over 200 million people that the whole world is looking for.

Countries like France and Korea with much less population are running their trains profitably and they know that they can multiply their profit 10 times by operating in Nigeria.

“Train companies from Korea, France and Canada have applied for license to operate in this country but they were turned down.”

The President of the LCCI,

Dr. Michael Olawale-Cole, in his comment stated clearly that the government has no business in business but should create the enabling environment hand-off for the private sector to do what it could do best.

He said: “The more the government will agree to make way for the private sector, the better for the country. The government has no business in business. Its role is to provide the enabling environment for those who are trained to run business.

“We have examples of how government has run down businesses like the Nigeria Airways and the Nigeria Shipping Line that was a very big international shipping company with 120 vessels at a time.”

Cholera Kills 233 Persons in Nigeria in Nine Months Onyebuchi Ezigbo in Abuja The Nigeria Centre for Disease Control and Prevention (NCDC) yesterday disclosed that 233 deaths were recorded from January to September 25th, 2022, in the country.

The centre which is leading the national response to the ongoing outbreak of cholera said it has commenced campaign on strengthening water, sanitation and hygiene in Nigeria In a signed statement, the Director General of the Centre, Dr. Ifedayo Adetifa stated: "A total of 2187 confirmed cases of cholera have been reported from 31 states and 233 deaths recorded from the 1st of January to the 25th of September 2022."

According to him, following a recent increase in the number of cholera cases, NCDC activated multi-sectoral National Cholera Technical Working Group (TWG) in collaboration with partners to support affected states in risk communication, active case search, case management, and water, sanitation, and hygiene (WASH) interventions.

He added: "The NCDC-led multisectoral TWG include: representation from the federal ministries of Environment and Water Resources, the National Primary Health Care Development Agency (NPHCDA), the World Health Organisation (WHO), United Nations Children’s Fund (UNICEF) and other partners."

He said the cholera outbreak was exacerbated by limited access to clean water and sanitation facilities, open defecation, and poor hygiene practices.

The DG stated that the NCDC and its partners have supported the affected states with commodities for case management and laboratory diagnosis, materials for risk communications, and response guidelines among other things.

Adetiba however said medical interventions alone were not sufficient to address the root causes -water, sanitation and hygiene (WaSH) - of cholera outbreaks.

He further said the NCDC would continue to advocate to state governments to prioritise action for solutions that ensure access to and use of safe water, basic sanitation and proper hygiene practices in communities.

"We also urge Nigerians to keep their environments clean, only drink or use water that is boiled and stored safely, ensure food is cooked and stored in a clean and safe environment, avoid open defecation, and wash their hands regularly with soap and running water.

“Cholera is preventable and treatable; however, it can be deadly when infected people do not access care immediately. Nigerians are advised to visit a health facility immediately if they have sudden onset of profuse watery diarrhea, nausea, vomiting, and weakness.

“Cholera is a waterborne disease and the risk of transmission is higher in areas that lack adequate sanitation facilities and/or a regular supply of clean water.

“Unsafe practices such as improper disposal of refuse and open defecation endanger the safety of water used for drinking and personal use,” he added.

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POLITICS

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

Alex Otti And His New Deal For Abia Kevin Oji submits that Labour Party’s 2023 governorship candidate in Abia state, Dr Alex Otti, represents the new change the people are craving for

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he stock market crash of October 1929 in the United States sent the Wall Street on a tailspin and wiped out millions of investors; it left in its wake the Great Depression, the worst economic downturn in the history of the industrialized world.

In response to the ineffectiveness of President Herbert Hoover in meeting the ravages of the Great Depression, the then candidate Franklin Delano Roosevelt proposed The New Deal which he envisioned to bring economic relief as well as reforms in industry, agriculture and other critical sectors of the American economy.

Described as the New Deal for the “forgotten man”, Roosevelt eventually launched it from 1933 when he swept into office with the sole aim of restoring prosperity to Americans.

In our contemporary society, Abia state’s steep economic decline bears striking similarities with the United States in the throes of economic meltdown during the Great Depression.

For over two decades, the state has been misruled by self serving leaders who have squandered the state’s enormous human and material resources, mindlessly leaving it on the path to its dreaded descent into perdition.

The unenviable legacy of this visionless governance is in plain sight: complete breakdown of infrastructure, frightening and unacceptable increase in inequality, corruption, abject poverty, poor healthcare, non payment of wages of workers, high rate of unemployment, weak economy, collapse of the education sector, among others.

Dr. Alex Otti, a respected banker, entrepreneur and the governorship candidate of the Labour Party has embarked on a mission to rescue the state from decades of misrule and set it on the path of progress and shared prosperity.

His New Deal for Abia state which is a plethora of bold economic policies and initiatives mirrors the Roosevelt economic policies credited to have lifted millions of Americans from the poverty unleashed by the Great Depression.

Otti who first sought to govern Abia state in 2015 is bristling with ideas, policies and a clear plan on how he intends to rebuild the state and restore its lost glory if he wins the governorship election next year.

Successive administrations of the state under the People’s Democratic Party (PDP) encouraged by the indifference of and connivance of the political elite, the cynicism of the citizenry totally mismanaged the state and left it wallowing in penury. With unemployment rate at 50.07%, the second highest in the south east after Imo state,it is not surprising that all the development indicators are on downward spiral.

The prognosis are indeed uninspiring and raises the frightening spectre of a gloomy future unless decisive action is taken to arrest the drift. Governor Okezie Ikpeazu promised so much at the inception of his admnistration in 2015 but has so far delivered so little at the twilight of his tenure in office.

His admnistration has supervised the collapse of virtually all the sectors of the economy of the state. Public hospitals and healthcare centres are in varying degrees of neglect and decay. Doctors at the Abia State University Teaching Hospital are owed 25 months of salaries and the staff of the Health Management Board owed 11months in arrears.

The economy of the state has taken a hit as workers are either under paid or owed arrears of salaries. Binge borrowing has ballooned the state’s debt profile without any marching verifiable and high impact projects to show for it.

Aba the commercial nerve centre of the state is a shadow of itself as the near total collapse of critical road infrastructure and poor environment sanitation have impacted its business capacity and stymied its development.

The New Deal for Abia as envisioned by Dr. Otti is not only bold, visionary and realistic, it

ation of the areas the state has comparative advantage will get Abia working again for the people.

From 1999 to date, the state earned over two trillion naira in revenue with little to show for it in terms of development. In his second run for the governorship, Otti pledged to run an accountable state admnistration by putting in place a new transparent threshold which will do away with wastage and profligacy by making sure that every single kobo that belongs to the state is accounted for.

The prudent management of state resources will free enough funds and enable him to make the payment of salaries a first item in the budget; make possible free and compulsory education for Abia citizens up to secondary school level, launch a revolution for SMEs and large scale industries. This New Deal will create an export free zone to stimulate industry and commerce, create a new future for the youths through gainful employment and transform Aba into the Dubai of Africa.

The New Deal for Abia is ambitious, realistic and workable; it will restore prosperity to Abians. Otti’s pledge to rebuild Aba and the battered infrastructure in the state with the economy on progressive progression are founded on his plan to create wealth and employment through critical interventions that will leverage industry and commerce, agriculture and other areas that the state has comparative advantage. bears the precious seeds of the state’s renewal.

There is no doubt that the mindless misrule of the state for the past two decades has eroded public trust in governance and created a cynical electorate, yet in the deluge of this collosal failure, betrayal and the squandering of the public trust, there still exists patriots in

the state in the mold of Otti whose unwavering commitment to the primacy of collective interest and the progress of the state is total.

The economic development master plan of Otti, a product of thorough and painstaking analysis of the state’s financial profile, its assets and liabilities and of course consider-

–Oji writes from Umuahia, Abia State capital NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Between the Leaked PDP Deal, Nullified Primaries and Amosun’s Riposte Kunle Somorin writes about the implication of the reported deal between stakeholders of the Peoples Democratic Party in Ogun state and a chieftain of the All Progressives Congress and former governor of the state, Senator Ibikunle Amosun

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esop, the legendary Greek man of Fables fame must have had the 2023 Ogun State Gubernatorial election in mind when he penned “The Milkmaid and Her Pail.”

According to the didactic literato, a milkmaid had been out to milk the cows and was returning from the field with the magnificent milk pail balanced nicely on her head.

As she walked along, her pretty head was busy with plans for the days to come.

“This good, rich milk,” she mused, “will give me plenty of cream to churn. The butter I make I will take to market, and with the money I get for it I will buy a lot of eggs for hatching. How nice it will be when they are all hatched and the yard is full of fine young chicks. Then when May Day comes I will sell them, and with the money I’ll buy a lovely new dress to wear to the fair. All the young men will look at me. They will come and try to make love to me, but I shall very quickly send them about their business!”

As she thought of how she would settle that matter, she tossed her head scornfully, and down fell the pail of milk to the ground. And all the milk spilled out, and with the butter and eggs and chicks and new dress and all the milkmaid’s pride!

So it happened when Justice O. O. Oguntoyibo nullified all the primaries conducted by the People’s Democratic Party in the state because they were not in accordance with the provisions of the Electoral Act and with the clincher that the Independent National Electoral Commission should cease from recognising Ladi Adebutu as the governorship candidate of the party in the state.

Before now like the milkmaid in Aesop tale, the supposed flagbearer, his running mates and their promoters have been counting

their chickens before they are hatched – sharing portfolios and spoils of office even before the contest for office, from where the spoils of office would emanate, began.

It is no longer news that recently, a document had surfaced in the Nigerian media space, which revealed a power-sharing agreement between the now disqualified Ogun State governorship candidate of the PDP, Oladipupo Adebutu, and his running mate, Abdul Kabir Akinlade.

The seven-page agreement, titled, “Alliance Agreement between Hon. Oladipupo Olatunde Adebutu and Hon. Adekunle AbdulKabir Akinlade in respect of the 2023 Election Into the Offices of Governor, Deputy Governor, Related Elective Positions and Appointment in Ogun State”, was dated September 16, 2022.

The document was signed by both Adebutu and Akinlade, and confirmed by an oath at

the High Court of Ogun State, Abeokuta, while Sikirulai Ogundele, the state PDP chairman and one Hon. Tola Banjo signed as witnesses to the parties respectively.

The agreement, among other provisions, ceded the role of Commissioner for Trade and Industry to the deputy governorship candidate, in addition to seven substantive commissioner slots, 15 Special Adviser slots, 20 Senior Special Assistant slots, 20 Special Assistant slots; five Statutory Board Chairman slots and five local government executive chairman slots conceded to the Allied People’s Movement (APM) and factional All Progressive Congress camp, should Adebutu emerge as the winner of the governorship election come 2023.“ In furtherance of Clause A and B hereinabove, Hon. Adekunle AbdulKabir Akinlade shall mobilise and deploy his political capital, groups, and other resources toward the successful emergence of all the candidates of the Peoples Democratic Party (PDP), particularly to the office of the Governor in Ogun State.

“Hon Adekunle AbdulKabir Akinlade shall equally support, assist, and promote the political interests of Hon (Dr) Oladipupo Olatunde Adebutu and the Peoples Democratic Party (PDP) at all times.

“All actions, moves, and strategies made by the parties pursuant to the realization of this Agreement shall be made in good faith without any intention to unduly deprive the interests, rights, or benefits or either party.

–Somorin writes in from Abeokuta NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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INSPIREDLIFE

THE TRIALS AND TRIUMPHS OF BUSINESS WUNDERKINDS

with LANRE ALFRED

Igho Sanomi: Bravery Against The Odds “Your capacity to lead and help different nationalities through your business, work and extraordinary philanthropic activities has positioned you as a role model for many in Africa and beyond.” – Forbes during its award presentation to Igho Sanomi at United Nations General Assembly in Washington DC

I

for One Million, Cercopan (a conservation NGO dedicated to primate rehabilitation, environmental education, community rainforest conservation, and research), IBM-GIO, Rotary, Oxfam, Red Cross, and a host of other NGOs. Taleveras’ contribution to these organisations is in support of attaining the Millennium Development Goals, like the eradication of poverty, promotion of gender equality, economic growth, and the improvement of maternal health within Nigeria.

Taleveras DMCC, Sanomi’s Dubai-based oil trading company, also partnered the Bobby Moore Fund and Cancer Research UK, and helped it raise more than $1.5 million. Established in memory of World Cup-winning England football captain Bobby Moore, who died from bowel cancer in 1993 at 51, the charity organisation was founded by his wife, Stephanie Moore, in partnership with Cancer Research UK (CRUK) to raise money for research into bowel cancer and create public awareness of the disease.

n his march to acclaim, Igho Sanomi, the head honcho of Taleveras Group, laboured within commerce’s brutish straits, burnishing spunk with pragmatism; eventually, he emerged as one of the keenest juggernauts in Nigeria’s oil sector, and the most perceptive visionary of his generation. This was remarkable for a man who suffered a lull in business years ago. He started all over again in the customary hustling way, towing the slow, steady path to acclaim. Indeed, in the middle of challenges, many may get disillusioned, indolent and rid of spunk, but not Sanomi. He affected an infectious mass of energy and bumptious push. He was too energetic, thus immune to slothfulness. Eventually, the light broke upon him, and he began to enjoy the beaming brightness of bliss.

SAILING THE SHIP OF TALEVERAS THROUGH STORMY SEAS

Like an indefatigable mariner, Igho Sanomi rides the storms, bolstered by a tenacious spirit and mulish resolve to excel and arrive with his dreams intact on pliant coasts. Today, that unyielding spirit of his has paid off. It has seen him through the teething and oft tumultuous stages of the cut-throat world of global commerce till he emerged unhurt and stronger in spirit and resolve like a champ. For Igho Sanomi, not only has he been through it all and outlived tough times; he has emerged even stronger. If the universe really is composed of strings, as suggested by the string theorists, he was confident that he would be able to tie them together, even if he had to keep his fingers crossed that his knots may hold up.

Sanomi had no room for failure. He sought to actualise his Nigerian dream through daunting odds. No matter what life hauled at him, he kept dreaming. At the height of his fame and fortune, the chief executive officer of Taleveras Group commanded reverence from established business leaders and inspired refrains and references from entertainers. He was one of the young entrepreneurs breaking boundaries and redefining the African economic narrative until he hit a rough patch. He had to relocate to re-strategise and reinvent himself. Many may have given up on Sanomi, but he never gave up on himself. Shedding doubts like ragged clothing, he tilled the thick darkness of soil, on whose cliff the fair flower advances, till the flag of its whiteness defeated the contemptible famine of night and, from the motion of light, spills itself in astonished seed. He pitched his stake in the turbulent grounds and battle zones of global commerce with an ambitious bid to make the world recognise his presence and exploits and eventually seek him out.

That resilience is heaving him back to reckoning and relevance. Indeed, the last two decades have been a rollercoaster of mixed fortunes for the Taleveras boss.

OF A DEEPENED BUSINESS FOUNDATION

Igho Sanomi is not new to toil. He understood quite early in life that challenges are necessary for man’s evolution. And that each challenge he had faced in his ascent up the ladder of success was meant to tear him apart and build him up till he attained a fully formed character. As a young adult, he believed that a man’s reach should always exceed his grasp. He believed in reaching for the moon, knowing that if his grasp misses its cusp, his hands may land on the stars.

Taking a cursory look into Igho’s trajectory, ambiguity was never found at any point of his journey to either the pinnacle of his career or the peak of his entrepreneurial success. He has always known what he wanted and pursued it with laser focus. Igho’s journey in the oil and gas industry began after graduating from the University of Jos with a degree in Geology and Mining. He worked as an executive director, Operations and Marketing with Cosmos Oil AG, a Swiss company with its core business activities in Nigeria from 1997 to 1999.

Then in his early 20s, Igho singlehandedly developed trading operations of the company’s oil business by negotiating trade transactions for exports from the Port Harcourt Refinery. Later, he became the managing director of Sarian Oil and Services Ltd, where he instituted a strategic partnership with Masefield AG, a Switzerland-based energy trading company. Under related International Trade Partnerships, volumes of physical trades of oil grew at unprecedented levels from $50 million in 2000 to $500 million in 2004. This partnership saw the importation of over 600,000mts of petroleum products into Nigeria and Private Sector Operators on the West African Coast.

In 2004, Sanomi founded the Taleveras Group with a core interest in energy, power, and construction.

MASTER OF HIS UNIVERSE

Pace is a crucial word to Igho as he ventures into an interesting phase in his life. At 47, he has grown several leaps and paces ahead of his peers and even those verifiably older than him. As his metamorphosis and growth become more remarkable and extraordinarily wrought, Igho remains an enigma. It is never easy to know Igho fully; his successes and remarkable exploits are far easier to see.

Igho Sanomi attracts recognition by dint of his good works. It is, therefore, understandable that the media would focus on him while shunning its tendency to embrace and promote nuanced, complex midwifery properties for menace and subjugation.

Even while he performs feats that could make any money-bag swoon with pride, his humble demeanour continually endears him to global media, civil societies and non-governmental organisations (NGOs) that are often beneficiaries of his philanthropy. His ceaseless contributions and commitment to humanity keep earning him accolades from far and near. Besides his consistently favourable media features, Igho has received numerous local and international awards.

Sanomi The company later diversified into upstream activities with the award of two oil blocks under the 2005 oil bidding round by the Department of Petroleum Resources. Apart from constructing three major Power Injection Substations for the Federal Capital Territory, Abuja, in conjunction with the FCDA, Taleveras Group was awarded the construction of six substations in the Niger Delta region under the National Integrated Power Project. The company was also awarded the establishment of the Field Logistic Base for the Afam Gas project with Shell Nigeria. In 2005, an aggressive bid was made to migrate into upstream activities in Nigeria’s Continental Shelf. Sanomi served as chairman of the technical committee of a consortium awarded two oil blocks in the exercise. The good times started rolling in. The genial young man was garnering attention at home and abroad. His fame and fortune soared while he remained understated and focused on growing his company into a global brand.

In the din of interminable acclaim and deafening applause that welcomes his arrival to the metropolitan oasis of high society courtesy of his sterling achievements in the business world, Sanomi will not rest on his oars. His unflagging spirit continually spurs him to seek and attain landmark feats in business and even outside the business sector.

Inadvertently, he had become a goldfish with no hiding place again. The international sociobusiness journal Forbes, in 2007, described Igho Sanomi as “one of the new generation of young professionals in Nigeria establishing themselves as young leaders of the private sector business community.” Sanomi’s indelible place in Nigeria’s petroleum ecosystem was consummated when Forbes rated Taleveras as one of the indigenous companies making a huge breakthrough in the sector. The publication stated that the involvement of home-grown Nigerian companies in the country’s oil and gas industry was limited by the huge amount of capital required to operate in both the upstream and downstream fields, adding, “The federal government has little chance of meeting its optimistic target of a 70% presence of local companies by 2010, but some are making the breakthrough. One of these is the Taleveras Group. Its chief executive, Igho Sanomi, typifies the new generation of educated professionals in Nigeria who are establishing themselves as

young leaders of the private-sector business community. Taleveras’s core business is sourcing and delivering oil and other commodities to leading companies worldwide.”

Forbes added, “Two years ago, it began expanding its portfolio of activities by winning offshore oil exploration block, and it is set to move into the highly competitive upstream segment of the oil industry. The company has secured a major contract to build three electrical substations in conjunction with a Chinese partner.

In addition, it has broadened its reach into other areas such as engineering and construction and has a substantial investment in the telecom sector.”

HIS COMPASSION AND SUPERIOR CULTURE OF PHILANTHROPY

As a billionaire in his early 30s, Sanomi, across the world, was the archetypal African Prince – wealthy and well-read, stylish and generous. He evolved into a cult-like figure in Nigeria’s pop culture scene, even inspiring references about his fortune by music stars, notably Don Jazzy, in his breakout single, Dorobucci. Sanomi does not go through life with a catcher’s mitt; rather, he earns and gives in equal proportion. He was the go-to guy for entertainers seeking financial support for their artistic endeavours. Sanomi soon evolved into a redoubtable philanthropist with the Dickens Sanomi Foundation, named after his father. In 2017, the Dickens Sanomi Foundation spent more than $50,000 in funding the surgery of Ali Ahmadu, a seven-year-old boy who became paralysed after he was run over by the militant Nigerian Boko Haram forces when they attacked Chibok Town in Nigeria’s Borno State. After the surgery, the paralysed Ali Ahmadu regained the use of his legs and now attends school in Nigeria courtesy of the foundation. The foundation evacuated 12,300 flood victims in Bayelsa and Delta.

On its part, the Taleveras Group also adopted a proactive rather than reactive stance in its societal obligations. It incorporated ethical decision-making in all aspects of its business operations while ensuring that its presence within various communities encourages the holistic development and growth of its environment, economy, and social dynamics. The company equally supports the works of organisations such as Lifeline, Food

HUMANITARIAN WITH UNIVERSAL RECKONING

Only days ago, he was named this year’s Forbes Best of Africa Leading Philanthropist in recognition of his activities in child health and education, cancer research and community development. The Forbes Best of Africa Leading Philanthropist 2022 award was presented to him on September 20 during a reception hosted by Forbes Media on the sidelines of the United Nations General Assembly Meetings in New York.

In its appraisal, Forbes reckoned that the award was in recognition of Sanomi’s notable achievements and his many humanitarian works through his foundation, which has consistently helped some social reformations and provided education, healthcare, and relief materials to the oppressed and disadvantaged.

“Your capacity to lead and help different nationalities through your business, work and extraordinary philanthropic activities has positioned you as a role model for many in Africa and beyond,” Forbes said, praising Sanomi’s philanthropic efforts.

In a Forbes 90th anniversary special issue dated May 7, 2007, Igho was described as “one of the new generation of young professionals in Nigeria who are establishing themselves as young leaders of the private sector business community.”

In the first edition of its Choiseul 100 Africa, published in September 2014, the Institut Choiseul for International Politics and Geoeconomics ranked Sanomi number one among “growing business leaders, successful entrepreneurs, investors, etc.” who “embody the dynamism and renewal of a whole continent and carry the hopes of an entire generation.”

In 2015, Sanomi received a prestigious Martin Luther King Legacy Award for Service and Philanthropy during the annual birthday celebrations in honour of Dr Martin Luther King Jr in Washington, DC. Rotary International and Lifeline have also awarded him various awards in recognition of his generosity and humaneness.

Sanomi was cited by Forbes as one of ‘Ten Young African Millionaires to Watch in 2013’ and was ranked one of Africa’s top 25 oil and gas leaders of that year by African Leadership magazine. He received the Mode Men magazine Humanitarian of the Year Award in 2012. He is a recipient of the African Leadership Award. He received the 2014 Africa’s Emerging Community Development Icon Award and was granted honorary citizenship of Georgia in the US.

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BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

1 3 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Despite Lucrative Aviation Market, Nigerian Airports among Highest Revenue Losers in Africa

Chinedu Eze Nigerian aviation expert and international consultant, Nick Fadugba has said Nigerian airports lose out from the highest revenue routes in Africa, disclosing that no Nigerian airport is rated among the top 10 highest revenue air route in Africa.

Fadugba who made this known at a conference in Dubai indicated that Nigerian airlines are not among the profitable carriers in Africa.

The top 10 routes in Africa according to Fadugba

are Johannesburg-Dubai, Johannesburg-London, Cairo-Jeddah, Luanda-Lisbon, and Cape Town –Johannesburg.

Others are Cairo-Dubai, Cape Town – Dubai, Abidjan-Paris, Cape Town-London, and Mauritius-Dubai.

According to him, the leading airlines operating in Africa with the highest earnings are Emirates, South African Airways, British Airways, Saudi Arabian, TAAG-Angola Airlines, and Air France, adding that cities with the highest revenues in Africa are Johannesburg – Dubai ($315.6 million); Johannesburg –

London ($295 million); Cairo-Jeddah ($242 million); Luanda –Lisbon ($231.6 million) and Cape TownJohannesburg with $185 million.

Others are Cairo-Dubai ($181.3 million); Cape Town-Dubai ($176.7 million); Abidjan-Paris ($175 million); Cape Town – London ($174.6 million) and Mauritius-Dubai earn $164 million.

According to his presentation, out of the $2.1 billion revenue earned on the African routes, Emirates Airlines alone got $837.6 million within the period, while South African Airways came a distant second with $359.6

million.

Others are Saudi Arabian with $242 million, TAAG –Angola Airlines with $231.6 million, British Airways with $295 million and Air France with $174.6 million.

But while many foreign carriers do not operate many frequencies in a day to Nigerian destinations, Nigeria remains the most lucrative market per passenger in Africa, but Nigerian airlines and its airports do not benefit from these profitable operations, Fadugba said.

Two years ago the Minister of Aviation, Senator HadiSirika

identified reasons why Nigerian airlines fail, which included poor business plan, high cost of maintenance, choice of operational equipment, high interest on loans and poor corporate governance as some factors responsible for the failure of Nigerian airlines.

The Minister said most Nigerian airlines had poor business plan and this include their administrative system, choice of aircraft, choice of routes, choice of manpower and financial management.

On the choice of aircraft, he said: “Since the average distance between

two cities in Nigeria is about one hour, Nigerian airlines should acquire small body aircraft that are new and less costly to maintain. These types of airlines consume less fuel and also break-even at 50 per cent load factor.”

He said some poor critical decisions made by the management of the airlines led to their demise because airlines operate on a very low profit margin, but they generate high revenue. Owing to this, some owners misapply the funds and then Continued on page 23

Nigeria, Four Others Gets $250m Economic Boost from EBID Michael Olugbode in Abuja The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a total of $250 million for five member states of Nigeria, Burkina Faso, Ghana, Senegal and Sierra Leone to boost their oil & gas, energy, road infrastructure and agricultural sectors.

According to a statement

from the bank, the approvals are part of the intensified efforts by EBID to invest in key sectors to spur up post COVID pandemic recovery and mitigate the impact of the Russian – Ukraine war on the member states of the Economic Community of West African States (ECOWAS).

The statement added that the announcement was made by the President and Chairman of the Board of

Directors of EBID, Dr George Agyekum Donkor at the just ended 79th session of the Board of Directors of the Bank.

Donkor, was said to have observed that the impact of the COVID pandemic and ongoing Russian – Ukraine war have left many economies in tatters. He indicated that the current market conditions have compelled investors to seek premium on investments

in sub-Saharan Africa thereby increasing the cost of capital.

He also said this has resulted in dampening economic growth, widespread balance of payments deficits, unfavourable terms of trade, depletion of central bank international reserves, fiscal deficits, and debt distress, stressing the need for EBID, as the financial arm of ECOWAS, to deepen its financial intermediation

in all the critical sectors of member states to assist them to recover from the economic challenges.

Present at the session was the Vice-President of the ECOWAS Commission, Her Excellency Damtien L. Tchintchibidja, who lauded the tremendous impact of EBID’s interventions in the sub-region and assured the Bank of the commitment of the new administration of

the ECOWAS Commission to collaborate and support EBID in its multifarious activities especially in the area of resource mobilization to transform the ECOWAS Communities.

ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the 15 Continued on page 23

M A R K E T D ATA A S AT T H U R S D AY, O C T O B E R 1 3 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

Yield

100.36

13.89

98.84

14.09

96.85

13.70

108.30

13.73

100.25

13.90

Change Updated Time (%) October 7, 0.00 2022 October 7, 0.01 2022 October 7, 0.00 2022 October 7, 0.00 2022 October 7, 0.00 2022

MATURITY

Discount

Yield

OTC F X F U T U R E S

CPS

Change Updated Time (%)

NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23

5.91

5.94

0.00 October 7, 2022

6.51

6.64

0.00 October 7, 2022

6.62

6.77

0.00 October 7, 2022

6.84

7.04

0.00 October 7, 2022

NTB 27-Apr23

7.22

7.52

0.00 October 7, 2022

MATURITY FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Discount Yield

Change Updated Time (%)

11.14 11.21

0.00 October 7, 2022

10.29 10.34

0.00 October 7, 2022

13.64 13.82

0.00 October 7, 2022

12.67 13.42

0.00 October 7, 2022

17.17 18.71

0.00 October 7, 2022

CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS OCT 26 449.69 1 October 7, 2022 2022 NGUS NOV 30 451.43 2 October 7, 2022 2022 NGUS DEC 28 3 453.18 October 7, 2022 2022 NGUS JAN 25 4 454.92 October 7, 2022 2023 NGUS FEB 22 5 456.67 October 7, 2022 2023

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FRIDAY, OCTOBER 14, 2022 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

Aviation Experts Applauds LASG’s Plan to Build Lekki Airport Aviation industry experts under the aegis of Aviation Safety Round Table Initiative (ART) have said they welcome the decision of the Lagos State government to build a second airport at the Lekki axis of the state.

The experts said they wholeheartedly welcomed the decision of the Lagos State government to build an airport in the Lekki axis to cater to the bourgeoning population and businesses around the Lekki industrial layout.”

In a statement signed by its head of publicity, Olu Ohunayo, ART

said despite prior promises and the potential, including the extensive plans for the development of the area over the years, the project never took off and the Lekki corridor continued to expand, creating congestion, logistics and traffic chaos, impacting the economic and business opportunities in the area.

“For the benefits to Lagos, we strongly advocate for a Public Private Partnership (PPP) and the need for the regulator, the Nigerian Civil Aviation Authority (NCAA) and the Federal Ministry

of Aviation, to give the necessary support and approvals for the project.

“We are also calling on the relevant agencies and tiers of government, to as a matter of urgency, commence with the repair of the Cenotaphs erected to honour the fallen air passengers at Lisa, Epe and Ejigbo respectively. These sites serve as a memorial of the dark history of our industry and to honour to our fallen citizens. Therefore, roads leading to these sites should be fixed for accessibility,” the body said.

A I R WATCH Net Zero Emission Target by 2050 Tops Achievements at ICAO 41st Assembly

EASA Expresses Readiness t o Wo r k w i t h BAG A I A Chinedu Eze The European Aviation Safety Agency (EASA) has expressed the readiness to share the tenets of the European Co-ordination Centre for Accident and Incident Reporting Systems (ECCAIRS) with the Banjul Accord Group Accident Investigation Agency (BAGAIA).

The agency agreed to the partnership through the European Network of Civil Aviation Safety Investigation Authorities (ENCASIA) and has assured that it would kick-start once the modalities were finalised by the International Civil Aviation Organisation ( ICAO) This was disclosed at the ENCASIA Plenary holding 11-12 Oct 2022 at the Belgian Safety Investigation Authority, Federal Public Service Mobility

and Transport, Brussels, Belgium, where a BAGAIA delegation led by the BAGAIA Commissioner, Charles Irikefe Erhueh, in company of AIB-Nigeria Commissioner, Akin Olateru and Commissioner AAIB-Ghana, Mr. Prempeh Akwasi Agyeibi, were all under observer status.

The EASA Senior International Cooperation Officer sub-Sahara Africa Regional Coordinator, Yves Koning, who responded to the special requests by BAGAIA delegation, said consultations with ICAO on the modalities to implement ECCAIRS in other regions outside Europe is ongoing.

Koning, who expressed appreciation for the request said,”Yes, it already being implemented in the Europe, but they are finalising with ICAO on the modalities to implement

it outside Europe. Once that is done it will now be extended on train the trainer.”

ECCAIRS is a cooperative network of civil aviation authorities and safety investigation authorities in Europe, a project being managed by the Joint Research Centre of the European Commission (DG JRC) on request of the Directorate General for Mobility and Transport (DG MOVE) and in close co-operation with the European Aviation Safety Agency (EASA).

BAGAIA under the EU-ASA project, presented the request for peer reviews of processes in the regions where EU experts will do due diligence and provide reports afterwards.

Also BAGAIA requested for human capacity development and the ECCAIRS training of the new version.

Wakanow Partners Akwaaba for the 18th African Travel Market The leading travel company in West Africa, Wakanow has signed a partnership deal with the biggest travel expo in West Africa to deliver the 18th edition of the Akwaaba African Travel Market holding at the Convention Centre of Eko Hotels and Suites from 31st October to the 1st of November, 2022.

Akwaaba African Travel Market is an annual international travel, tourism, and hospitality event, which has become one of the top 5 travel events in Africa and the leading tourism marketing platform in West Africa.

Over the years, it has attracted exhibitors from over 20 countries.

Major highlights of the 2022 travel expo will be the second edition of the Africa Travel 100 Women Awards, the Youth in Tourism Conference

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

and the Medical Tourism session.

The organiser of the Akwaaba Travel Fair, Mr. IkechiUko has commended the partnership, remarking that Wakanow is a great African brand and one of the biggest travel companies in Africa.

“We are happy to associate with such a powerful organization to grow tourism and travel in Africa.

The partnership with Wakanow for this year’s event is special because this year marks the return of the Africa Travel 100 Women’s award at Akwaaba African Travel Market.

We will be joined by women of high influence from over 25 countries in Africa for the awards. Wakanow and Akwaaba are winning brands

of Africa,”Uko said.

Also commenting on the strategic partnership, MD/CEO of Wakanow, Mr. Bayo Adedeji, noted that Akwaaba resonates with the Wakanow brand.

“Wakanow is all about defining the future in the travel industry, opening new doors, and fostering creating ease of travel, and we are proud to be a part of an event that celebrates what we represent as a brand,” Adedeji said.

THISDAY learnt that organizers of the fair have decided to prioritize Medical Tourism and Health Insurance at this year’s edition.

This is because of the increasing importance of Medical Tourism in Africa.

Kalabash Enters Aviation Sector with ‘Pay Small Small’ Solution Kalabash, a new entrant into the rapidly expanding BNPL Fintech space, has unveiled Pay Small Small, a product that allows air passengers to enjoy great travel deals and prices by paying as little as 25 per cent of the total cost as a down payment to lock in travel fares and splitting the rest into convenient installments.

Kalabash’s Pay Small Small product aims to alleviate traveler burdens by allowing them to lock in more affordable ticket prices and pay the remainder installments.

Targeted at travelers and intending travelers, Pay Small Small is a flexible travel payment plan that allows customers to lock down great travel deals.

Its installment options allow customers to plan their travel from 24 hours to six months in advance.

Customers who book ahead

of time can take advantage of lower fares. Checkout is simple, and no credit checks are required because all customers have access to the payment plan.

Kalabash’s Chief Executive Officer, Ladi Ojuri stated that “Kalabash is positioned to transform businesses across Africa and drive growth within the travel sector by making customer acquisition faster, more affordable, and more efficient.” It will be supported by best practices for security and compliance, making transactions less vulnerable to fraud, errors, and other risks.`` According to Ojuri, “With the current economy, we believe that our Pay Small Small for Travel product will add value to Air Peace and Nigerians in general.”

We have a track record of assisting customers in meeting their travel obligations without breaking the bank.

Chinedu Eze The global aviation and tourism sectors have welcomed the historic Long Term Aspirational Goal (LTAG) of net-zero carbon emissions by 2050 adopted by International Civil Aviation Organization (ICAO) member states during the 41st ICAO Assembly last week.

Countries, cities and companies from every part of the world, including Africa, have expressed the commitment to reach net zero by 2050 – removing as much CO2 as they produce to limit global warming.

Short- and medium-term emission reduction goals, consistent with the Paris Agreement, are set all over the globe to eliminate the worst impacts of climate change this decade.

Reaching net zero emissions means balancing the greenhouse gases we emit into the atmosphere with what we extract. Under the Paris Agreement in 2015, 197 countries pledged to keep temperature rises ‘well below’ 1.5°C to avoid severe consequences of climate change.

The Intergovernmental Panel on Climate Change (IPCC) found in its report of 2018 that “global net human-caused emissions of carbon dioxide would need to fall by about 45 per cent from 2010 levels by 2030, reaching net zero around 2050.

This means that any remaining emissions caused by human activity that cannot be abated will need to be balanced by removing CO2 from the atmosphere.

Welcoming this decision, the International Air Transport Association (IATA) has said it is strongly encouraged by the adoption of a Long Term Aspirational Goal (LTAG) to achieve net zero CO2 emissions by 2050 at the 41st Assembly of ICAO. IATA said this important step forward by states, would align with both the objectives of the Paris Agreement and the net zero CO2 emissions by 2050 resolution agreed by airlines at the 77th IATA Annual General Meeting in October 2021.

“The significance of the LTAG agreement cannot be under-estimated. The aviation industry’s commitment to achieve net zero CO2 emissions by 2050 requires supportive government policies. Now that governments and industry are both focused on net zero by 2050, we expect much stronger policy initiatives in key areas of decarbonization such as incentivizing the production capacity of Sustainable Aviation Fuels (SAF). And the global determination to decarbonize aviation that underpins this agreement must follow the delegates home and lead to practical policy actions enabling all states to support the industry in the rapid progress that it is determined to make,” said IATA’s Director General, Willie Walsh.

IATA said that the decision on a long-term goal at ICAO comes after intense negotiations bridging the different levels of development across the world. There was overwhelming support at the ICAO Assembly for the goal.

The Assembly also reinforced its commitment to the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and increased its ambition by agreeing to stabilize emissions of international aviation at 85% of the 2019 level. In agreeing this,

many governments emphasized CORSIA’s role as the only economic measure applied to manage the carbon footprint of international aviation.

“The Assembly’s agreement strengthens CORSIA. The lower baseline will place a significantly greater cost burden on airlines. So, it is more critical than ever that governments do not chip away at the cement which bonds CORSIA as the only economic measure to manage the carbon footprint of international aviation. States must now honor, support and defend CORSIA against any proliferation of economic measures. These will only undermine CORSIA and the collective effort to decarbonize aviation,” said Walsh.

Industry expects Sustainable Aviation Fuel (SAF)to play the largest role in decarbonizing aviation. IATA estimates that perhaps 65% of the mitigation needed for net zero emissions in 2050 will come from SAF. While the industry purchased all one hundred million liters of SAF available in 2021, the supply remains limited and the price far higher than conventional jet fuel.

“With LTAG in mind, state efforts should now be focused on ways to incentivize an increase in SAF production capacity and thereby reduce its cost. The tremendous progress made in many economies on the transition of electricity production to green sources such as solar power and wind is a shining example of what can be achieved with the right government policies, particularly production incentives,” Walsh added.

The Assembly’s outputs include several key areas of support for SAF. These include: requesting the ICAO Council to: facilitate capacity building and technical assistance to states for SAF programs.

Work with stakeholders to define and promote the transition to SAF and facilitate access to financing for infrastructure development projects dedicated to SAF to develop the incentives needed to overcome initial market hurdles Requesting States to: accelerate fuel certification and development of SAF including feedstock production, accelerate certification of new aircraft and engines to allow the use of 100% SAF; encourage and promote purchase agreements, support timely delivery of any necessary changes to airport and energy supply infrastructure and consider the use of incentives to support SAF deployment IATA emphasized the criticality of effective implementation.

“Governments must not lose the momentum that has driven the outcomes of this assembly.

The costs of decarbonizing aviation are in the trillions of dollars and the timeline to transition a global industry is long. With the right government policies SAF could reach a tipping point in 2030 that will lead us to our net zero goal. By the next Assembly the ‘aspirational’ characterization of LTAG must be transformed into a firm goal with a clear plan of action. That means governments must work with industry to implement an effective global policy framework capable of attracting the financial resources needed to put aviation on an unstoppable track to achieve net zero by 2050. There is lots of work to do, and not a minute to lose,” Walsh further said.

T H I S D AY ˾ FRIDAY, OCTOBER 14, 2022

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BUSINESSWORLD

AVIATION

Making Nigerian Airports W’Africa Regional Hub With the highest passenger traffic in West Africa, Nigeria ought to develop major airport infrastructure that takes advantage of its international, regional flight operations, writes Chinedu Eze

O

ne key advantage the Nnamdi Azikiwe International Airport, Abuja, has over all other airports in Nigeria is that it has virgin land for expansion. Playing second fiddle to the Murtala Muhammed International Airport, Lagos, which is the nation’s gateway, over the years, the Abuja airport had grown in traffic and has become strategic that certain realities are recommending that the federal government should reappraise its status, as the country prepares to take a leading role in air transport in the sub-region.

BENEFITING FROM SAATM, AFCFTA

The Single African Air Transport Market (SAATM) is an initiative of the African Union to create a single unified air transport market in Africa to advance the liberalisation of civil aviation in Africa and act as an impetus to the continent’s economic integration agenda. SAATM will ensure aviation plays a major role in connecting Africa, promoting its social, economic and political integration and boosting intra-Africa trade and tourism as a result.

Nigeria can begin to take advantage of this market if it has the right airport facilities and the airlines with the right equipment, recognizing the fact that Nigeria had dominated the market before.

Former Managing Director of the Federal Airports Authority of Nigeria (FAAN) and currently CEO of Avialog Company Limited, Richard Aisuebeogun, once told THISDAY that there are huge opportunities in the West Coast with its over 390 million population.

He said that is potentially a big market that has attracted airlines from other regions. And for any Nigerian airline to make money from the destinations in the sub-region, it must have to recognise and overcome the barriers, including ethno-political differences and protectionism and one sure way of going about it is to have state-of-the-art airport facilities, including transit facility where passenger from West Africa destinations could connect flights to long haul destinations. With existing Nigerian carriers and the right equipment, the country can maximise the benefits of SAATM. “You can buy all the brand new airplanes but without solving some of these challenges you will experience what your predecessors experienced. The prevailing conditions that happened in the 90s and 2000s haven’t changed; they are still there. So, what is the guarantee that in the next 10 years you’d still be in the market?” Aisuebeogun queried.

Nigeria reluctantly embraced the African Continental Free Trade Area (AfCFTA), but with high population, robust domestic airlines and modern airport facilities, Nigeria can take advantage African Continental Free Trade Area. But this will not happen if there is no planned strategy with defined objectives to take advantage of the potential benefits at its disposal.

OPPORTUNITIES FOR GROWTH

The Managing Director of Flight and Logistics Solutions Limited, Amos Akpan, observed that that government decision makers in the aviation industry may inadvertently be limiting the growth of the industry by certain policies they are introducing to guide the sector. He urged them to have broader spectrum for the industry by targeting to make the sector among the best in Africa, remarking that certain decisions being taken in the sector might have outcomes that would place Nigeria behind such countries like Egypt, South Africa, Ethiopia, Singapore, and Malaysia.

His recommendation is that government should concentrate on building an air transport hub for West Africa.

“Take one airport and upgrade the infrastructures and facilities to very high status with modern facilities.

Every flight from every city in West Africa will come into that airport for connections to every part of the world. This is pivotal to the establishment, the growth, and sustainability of allied aviation businesses in Nigeria. Our international airports (Lagos, Abuja,

Abuja international Terminal Kano, Port Harcourt) are so limited that they can’t accommodate some wide-bodied aircraft.

There are non-existing facilities for transit and connecting flights. We don’t seem ready to flow with the rest of the world,” he said.

Akpan also recommended that the Nigerian College of Aviation Technology NCAT), Zaria, should be given the attention in terms of infrastructures and facilities to train the skilled personnel to meet the industry manpower needs.

“I am not against the establishment of Aviation University as they are doing. I am advocating for NCAT to be enabled to train for the needs of our aircraft operators, handling companies, airports, airspace management, catering companies, logistics companies, tickets and passengers processing companies, cargo and courier companies. NCAT should be that vehicle to convey skilled personnel to field operations in the industry.

“There is the issue of the B737 simulator which was purchased and has been undergoing installation in NCAT. When will our pilots train with it? This is not a criticism but my way of pushing our system to achieve result on a worthy project,” he said.

MAINTENANCE

Akpan said that Nigerian aviation cannot move forward without having comprehensive maintenance facility, where commercial airlines can conduct checks up to C-check. This is where the Maintenance, Repair and Overhaul (MRO) facility in Uyo comes handy. Although the Akwa Ibom state government has not apprised Nigerians on the profile of the facility, but it is obvious that it is a major maintenance organisation.

“The infrastructure is in Uyo, the work skills is in Aero Contractors. Harness Uyo infrastructure and Aero Contractors skill and grow both into an MRO that can provide world-class aircraft maintenance facility. My point is that we have to grow Nigeria’s own MRO and the start-up seeds have been sown in Uyo and Aero Contractors,” Akpan said.

LEASING COMPANY

Akpan said that operators in the industry ought to access funds at single interest rates with tenure of 15 to 20 years. That is single digit, long-term credit facility. H explained that this is required by Nigerian airlines in particular

to build capacity for international competition, noting that getting aircraft from Nigerian leasing company at international competitive rates would reduce financial load on Nigerian carriers.

On national carrier, he said, “I believe private investors should establish and operate world class airlines and allied businesses in the aviation industry. The government should provide support with infrastructures and influences at international arena.

“The government should provide policy frameworks that project and protect Nigeria’s tangible (visible) and intangible (invisible) assets.

I am referring to traffic rights, commercial agreements, market size, category one certification and others.There should be support for carriers with Nigerian flag to perform like Emirates, Delta, KLM, Singapore, Qantas, Ethiopian and British Airways. Foundation and support columns are critical to a building that will stand for a long time through favourable and unfavourable weather,” he said.

ABUJA AS MAJOR HUB

As stated earlier, while Lagos airport is currently the gateway and busiest airport in Nigeria, it has been encircled by the bustling city and there is no room for expansion. But the Abuja airport has room for expansion. It has grown over the years to have VIP facility, cargo facility, domestic terminal, international terminal and hajj terminal. What the airport may need now is transit facility for passengers travelling to sub-regional destinations.

The CEO of Aero Contractors, Captain Ado Sanusi, told THISDAY that Abuja could be a hub for West Africa and recalled that few years ago, the Lufthansa Group picked Abuja as its operational hub for West and Central Africa, noting that there is space at the airport for expansion.

“The good thing is that there is space for expansion at the Abuja airport. More infrastructures can be added. They can build transit facility and other things to make Abuja airport a hub. There are other important things that should be added. There should be shopping malls, duty free and free trade zone. We can follow the Dubai model and designate the area around the airport as free trade zone. Investors can come and build factories and open phone assembly plant or even garment factory. With

that the place will become busy and a lot of activities will be happening there.

“Then we can build another runway. So that when one runway is closed the other will be receiving flights. Not that it is compulsory because the airport can really function with one runway, but it will be good to have a second runway. Heathrow, which is the hub airport in the UK, had one runway for a long time. There was even a time Heathrow was not operating 24 hours, just some years ago,” he said.

Speaking in the same vein, the former Managing Director of the Nigerian Airspace Management Agency (NAMA), Nnamdi Udoh, told THISDAY that there are many strategic factors that should make Abuja the operational hub for West Africa, noting that it is the headquarters of ECOWAS and also hosts the Banjul Accord Group Safety Oversight Organisation (BAGASOO).

“Abuja is Nigeria’s capital. It is strategic because it is located at the centre of the country, it qualifies as a hub, even with a single runway, but there is need to have a second runway. After all, Gatwick has one runway and it is a very busy airport after Heathrow. Nigerian aviation agencies are based in Abuja. If Abuja is the main hub, Lagos can be the second hub. Almost all the major airlines that operate to Lagos want to also operate to Abuja, except those airlines that do not have reciprocity in their Bilateral Air Service Agreement (BASA) with Nigeria. There is also multi-modal transport system at the Abuja airport, which include road, rail and air. The airport already has a rail station,” Udoh said.

However, travel expert and the organiser of Akwaaba African Travel Market, Ambassador Ikechi Uko told THISDAY that what determines airport as hub is facility, policy or population; that as it currently stands, Abuja airport cannot be a hub based on what is on ground but as a future plan, it can be designated as a hub.

He noted that Abuja airport does not have hotels very close to it; it does not even have banks and other things that could support tourism value chain.

When compared to Lagos, he said that Lagos has these essentials like hotel, banks and other basics round it but getting out is difficult due to traffic gridlock.

“But as a future plan, Abuja will be a better place because it has softer ground, but Lagos is literally a war zone. Abuja is good for future plan for Aerotropolis, but right now it does not have that advantage,” he said.

NIGERIA, FOUR OTHERS GETS $250M ECONOMIC BOOST FROM EBID ECOWAS member states, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea,

Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.

The bank with headquarters

in Lomé, Togolese capital, is committed to financing developmental projects and programmes covering diverse

initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services

sectors, through its private and public sector windows.

EBID intervenes through long, medium, and short-term

loans, equity participation, lines of credit, refinancing, financial engineering operations and related services.

DESPITE LUCRATIVE AVIATION MARKET, NIGERIAN AIRPORTS AMONG HIGHEST REVENUE LOSERS IN AFRICA fail to pay for aircraft maintenance, pay for fuel, pay for overheads and charges and then fail to pay the workers.

The airlines however blamed government for poor airport infrastructure, failure to have major aircraft maintenance facility and high insurance premium on aircraft due to country risk.

The Managing Director of

Overland Airways, Captain Edward Boyo, had countered the Minister then and said that over 100 domestic airlines had died in the last 20 years due to unfavorable business environment and charges.

Boyo asked that most of the charges including corporate interest tax, educational tax, Federal Inland Revenue Service Tax, local

government charges, PSC (passenger service charge), TSC/CSC (ticket sales charge/cargo sales charge), which he said were close to 35 in all, should be abolished as his airline has survived this far because of his business model, adding that if the unfavorable operational environment continues, he might not be sure that his airline would survive.

According eways aviation blog,

top most profitable routes in Africa include the routes airlines make the highest profit per passenger with high airfares for long haul routes and this is where Nigeria falls in. Foreign airlines practically rip off Nigerian travellers, especially now the country is facing forex challenges, the blog said.

The blog noted that these routes may not be the most popular, but

they are the most profitable due to high prices, geopolitics, or easy competitive environment.

According to the OAG, an air traffic analysis specialist firm, “The first observation that we can make from the results are that only one of the ten most profitable routes is within Africa’s two destinations.

The rest are international routes from around the world. This is

not unexpected as these routes would charge significantly more to passengers and cargo, but it highlights a lack of a strong African domestic market. The one route, from Johannesburg to Cape Town, is fourth on the list. There are easily destinations in Africa that could enter the top four with an even bigger population than these two cities.”

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FRIDAY, OCTOBER 14, 2022 ˾ T H I S D AY

BUSINESSWORLD

CAPITAL MARKET

Nigerian Capital Market’s 62 Years of Impact The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group was founded in 1960 as the Lagos Stock Exchange, on September 15, 1960. Operations began officially on August 25, 1961 with 19 securities listed for trading but informal operations had commenced earlier in June, 1961. As Nigeria celebrates 62 years anniversary, Kayode Tokede writes on how the Exchange has driven Africa’s largest economy, integrated market infrastructure, and its role in wealth creation.

IN THE BEGINNING

F

rom the early beginnings when only 19 securities were listed for trading to the now demutualised market, and over 300 securities composed of stocks, bonds, and Exchange Traded Funds (ETF) worth about N49.6 trillion in overall market capitalisation combined, Nigerian Exchange group Plc (NGX Group) has transformed to Africa’s gateway market, connecting Nigeria, Africa, to the world.

NGX Group has evolved in line with Nigeria’s independence, as operations on the then NSE were initially conducted inside the Central Bank building with firms as market dealers: John Holt Plc, C.T. Bowring, and ICON (Investment Company of Nigeria).

The volume for August 1961, was about 80,500 pounds and it rose to about 250,000 pounds in September of the same year with the bulk of investments made in government securities.

In December 1977, it became known as The Nigerian Stock Exchange (NSE).

The NSE converted to an Automated Trading System (ATS) in April 27, 1999, with dealers trading through a computer network. In 2013, it launched its next-generation trading platform, X-Gen, that enabled electronic trading for the retail and institutional segments.

With the economic expansion, the management of the Exchange created mechanisms such as the All-Share Index (ASI), NGX 30, and sectoral Indices to track the market performance.

The likes of Dangote Cement Plc, Nestle Nigeria Plc, Cadbury Plc, UAC Plc, and most leading banks/insurance firms to mention a few listed on the bourse have contributed to the nation’s economy with their expected job creation, tax remittance to government and economic diversification, sustaining economic growth over the years.

The NSE officially transitioned into a demutualised entity in March 2021 and transitioned to a non-operating holding company, Nigerian Exchange Group Plc, with three subsidiary businesses, the Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo) and NGX Real Estate Limited (NGX RelCo) after the approval of the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC). This was a laudable achievement in light of the effort on the part of all stakeholders that saw the passage of the Demutualisation Act through the National Assembly. NGX is the operating exchange that received the securities dealing license from the former NSE and is in charge of all commercial activities of the exchange including listing, trading and ancillary services. NGX RegCo performs most of the resgulatory activities of the NGX through a regulatory services agreement. NGX

Relco is the real estate company set up to deliver tailored propery letting, real estate investment and facility management services.

IMPACT STORIES

As Nigeria celebrates its 62nd anniversary, it would be worthy of note to recount strategies embarked upon by NGX Group and its subsidiaries in powering Nigeria’s economy. According to Oscar N. Onyema, GCEO Nigerian Exchange Group, “NGX Group of companies is positioned to be a key player in strengthening the competitiveness of the market on a larger scale. Being a leading integrated market in Africa championing the development of Africa’s financial markets through its subsidiaries and a wide range of services, NGX Group’s impact also spreads across investments in the financial infrastructure space like NG Clearing Limited, Central Securities and Clearing Systems (CSCS), OTC platforms and three fintech companies.

On the part of the Exchange, CEO Nigerian Exchange Limited (NGX) Temi Popoola narrated how the Exchange is helping investors and businesses meet their financial objectives. “When we take a look at what we have achieved with the various listings on the Exchange, you would see that our corporates covers all sectors, making us the preferred listing partner and destination in Africa. As part of efforts to improve the listing experience of current issuers and attract new listings, NGX has intensified efforts with policymakers to shape reforms and policies that are supportive of listings and the capital market at large. We are strengthening the value proposition for corporates to consider the capital markets as a platform for raising capital and working to ensure we are competitive when compared to options that are available to issuers. We are, therefore, actively involved in contributing to policy formulation and advocacy to ensure an enabling environment for listings, including, working with several stakeholders to ensure that the time to market and the costs for listing are optimised.”

The CEO also boasts of the Exchange’s impact on government and corporates with reference to major listings recorded in the bourse like the Tripartite listings of the Sukuk bond by the Debt Management Office (DMO) and other debt bonds such as the FGN Bonds. “In the end, we are contributing our own quota in improving Nigeria’s economy through the various strategic listings on the Exchange”, he said.

NGX is a technology powerhouse that leverages smart business models to

deliver vertical platforms across capital formation, investment, capacity building, market development and a plethora of other services within the capital markets ecosystem. Take for instance the MTN IPO issued in December 2021 that saw a large number of women and younger investors participate. We are not just promoting retail participation, we are advocating financial inclusivity and encouraging diversity in retail participation.”

The demutualisation of the NSE into the NGX Group and subsequent listing on the NGX Exchange was transformational as it gave members of the Exchange an opportunity to own shares in the new entity and find liquidation for their ownership. It has also given the public the opportunity to own a piece of the NGX Group and share in its future profits. It created strategic opportunities that would enable the Group realise its vision of becoming Africa’s leading capital market infrastructure provider. The creation of a holding company and a new capital structure would also enable NGX Group to form new dynamic relationships, drive strategic partnerships and gain capitalraising flexibility.

Arguably, its mission to promote a fair, transparent, and orderly Nigerian capital market for all stakeholders puts NGX Regulation Limited at the forefront of sustainability and corporate governancerelated discussions. NGX RegCo, the self-regulatory organisation is committed to promoting just and equitable principles of trade and sound business practices. Ms Tinuade Awe, CEO, NGX RegCo noted that “NGX Sustainability Disclosure Guidelines which provide companies with a step-by-step approach to integrating sustainability into an organisation’s activities and operations also provide guidance on best-practice sustainability reporting that complies with global standards, including the Global Reporting Initiative (GRI). Our goal is to foster investors’ confidence, whilst we find ways to unlock further capital to address Corporate Governance issues which therefore accelerates sustainable development in Nigeria and beyond”.

NGX successfully launched West Africa’s first Exchange Traded Derivatives (ETD) platform and collaborated with the premier central Counterparty (CCP) in Nigeria, NG Clearing Limited, to provide the clearing infrastructure for NGX Derivatives Market.

The significance of derivatives cannot be underestimated as it has brought more liquidity to the market, given sophisticated

investors an opportunity to hedge their risk and manage cost for their portfolios, expanded market making opportunities and complemented existing asset classes.

The CEO of NGX, Popoola said the introduction of ETD’s was a step in the right direction for the Nigerian capital market. “Our partnership with best in class CCP, NG Clearing Limited further engenders confidence in the ETD’s market segment amongst market participants, as the clearing infrastructure is capable of reducing systemic risk and enhancing market transparency,” he added.

CONTRIBUTION TO ECONOMY

The Chief Executive Officer and Managing Director at APT Securities and Funds Limited, Mr. Kasimu Kurfi said the NGX contribution to the nation’s economy is tremendous.

According to him, “Before, we had market capitalisation that was in the millions but today, we have a market capitalisation that is in trillions of naira. The capital market has provided a place for listed banks and insurance companies to meet recapitalisation exercises in their sector.

“Mind you, in the last 10 years, we have seen additional five companies listed on the NGX. Of course, these companies contributed nothing less than 60 per cent to the market capitalisation as of today. Do not forget, these companies are not government-owned companies.

“The capital market has been a driving force in the nation’s GDP growth and if more companies are listed, most especially the telecommunication and upstream companies, it will enhance the economic growth and capital market wealth creation.

“In the last 62 years, the capital market has played its role in economic growth through companies’ access to capital and government borrowing to finance key infrastructure projects across the country.”

The doyen of the Nigerian capital market, Mr Rasheed Yusuf expressed that the impact of the capital on economic growth has been enormous in both the African and global markets.

According to him, developing states, such as Lagos state has benefited from the capital market to raise needed funds to construct key infrastructure in the state.

He expressed that the Federal government over the years has utilised the capital market to raise bonds amid its budget deficit to support major road constructions across the country.

He said the manufacturing companies and banks amongst others, have tipped from the abundance of the capital market to access liquidity.

“Capital market is the source of funding for most of government and companies’ capital projects,” he said.

T H I S D AY ˾ FRIDAY, OCTOBER 14, 2022

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BUSINESSWORLD

NEWS

Positioning through Leadership Development Raheem Akingbolu writes on how the Mastercard Brand fared in its 10 years of overseeing Foundation Scholars Programme

I

n the last 10 years, the Mastercard Foundation Scholars Programm, has supported nearly 40,000 young people and by 2030 the global firm has announced that it would double its reach to 100,000 young people, primarily in Africa.

Launched in 2012, the programme began as a $500 million initiative to develop the next generation of leaders who would drive social and economic transformation.

The programme identifies talented young people from economically disadvantaged and hard-to-reach communities, primarily in Africa, and supports their secondary and higher education as well as leadership development. Initially, the programme aimed to support 15,000 young people.

Over the last decade, the Mastercard Foundation has deployed $1.7 billion through the initiative to benefit nearly 40,000 young people, over 72 percent of whom are young women. To date, 18,544 young people have graduated from secondary and higher education.

“Through a network of extraordinary partners, the Mastercard Foundation Scholars Programme is enabling thousands of bright and deserving young people to access quality education and develop as leaders who give back to their communities and help to improve the lives of others.

Mastercard Foundation Scholars and Alumni are leaders and innovators; activists and entrepreneurs; tackling everything from climate change to health inequity.

Their collective impact will be felt for generations to come, ”President and CEO of the Mastercard Foundation, Reeta Roy said.

According to a 2020/2021 survey of a sample of Alumni from the Programme, 87 per cent of secondaryschool graduates and 71 per cent of university graduates are employed.

Where Alumni have become entrepreneurs, they have collectively created over 16,000 jobs. In addition, 40 percent of university graduates say they are now supporting the education of their siblings.

Importantly, Mastercard Foundation Scholars unanimously express a strong commitment to giving back to their communities, which is a core principle of the Programme. During their education, each person creates or participates in a project, which addresses a specific challenge in their communities.

“Throughout my journey as a Mastercard Foundation Scholar, it has always been about being a better version of yourself so that you can go back to your community and help others,” said Joanna Gunab, who is now a medical doctor practicing in Northern Ghana. Joanna, a young woman living with a disability, also runs an initiative to support students with basic school necessities.

Another Alumni of the Mastercard

Foundation Scholars Programme, Faith Kipkemboi, is driving transformation in her native Kenya. She founded a community-based organisation, Cactus Mama, to deliver evidence-based, high-quality, and affordable mental health services in remote areas, especially for women. “We hope to create a better Kenya; a healthier Kenya,” she said.

The Mastercard Foundation Scholars Programme began with a strong focus on secondary education, working with partners such as CAMFED, BRAC, Forum for African Women Educationalists (FAWE), the African Leadership Academy (ALA), and the Equity Group Foundation (Wings to Fly) to provide young people with access to high school and improve completion rates —particularly for girls.

As more African countries adopt free secondary education policies, the Mastercard Foundation Scholars Programme has focused its attention on higher education, where tertiary enrollment rates across the continent remain low. At the same time, the Mastercard Foundation is continuing to improve quality, relevance, and inclusion in secondary education to prepare young people for the world of work.

Our partnership with the Mastercard Foundation Scholars Programme is

exceptional and has enabled us to fulfill our vision for the post-secondary school years,” saaid Ann Cotton, Founder and Trustee of CAMFED International.

“Every child matters and the Foundation looks at justice in the broadest possible sense, from the most impoverished [and] marginalized child to the most powerful institution with whom they work. And there is authenticity at every point on that trajectory.”

The Mastercard Foundation Scholars Programme has grown into a network of over 40 pan- African and global partners working together to drive inclusion in education. African organizations represent more than 45 percent of this network.

Over the next decade, the Mastercard Foundation Scholars Programme will double its reach to support a total of 100,000 young people, 70 percent of whom will be young women. It will also dedicate more attention to the inclusion of disabled and forcibly displaced young people.

Moving forward, the Mastercard Foundation will also continue to support the network of higher education partners to promote innovation and entrepreneurship in ways that enable dignified work for young people in Africa.

This is in line with the Foundation’s Young Africa Works strategy, which aims to enable 30 million young people across the continent to access dignified and fulfilling work by 2030.

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FRIDAY OCTOBER 14, 2022 •T H I S D AY

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FRIDAY, OCTOBER 14, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 12Oct-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 10.67% AIICO Balanced Fund 3.61 3.66 5.86% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.12% Anchoria Equity Fund 135.12 136.60 -2.97% Anchoria Fixed Income Fund 1.17 1.17 2.21% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.59 21.21 1.50% ARM Discovery Balanced Fund 494.00 508.90 9.49% ARM Ethical Fund 41.70 42.96 7.04% ARM Eurobond Fund ($) 1.09 1.09 0.68% ARM Fixed Income Fund 1.06 1.06 4.70% ARM Money Market Fund 1.00 1.00 10.27% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Dollar Naira N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 9.49% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 10.21% EDC Nigeria Fixed Income Fund 1,134.68 1,142.51 1.51% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1515.54 1515.54 11.44% FBN Balanced Fund 190.37 191.62 8.62% FBN Halal Fund 124.47 124.47 11.41% FBN Money Market Fund 100.00 100.00 10.60% FBN Dollar Fund (Retail) 126.66 126.66 6.25% FBN Nigeria Smart Beta Equity Fund 152.28 154.31 1.45% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 9.75% Legacy Debt Fund 3.58 3.58 -10.58% Legacy Equity Fund 1.83 1.86 5.05% Legacy USD Bond Fund 1.25 1.25 3.61% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

FSDH Dollar Fund N/A N/A N/A GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.62 1.65 14.17% Lotus Halal Fixed Income Fund 1,178.51 1,178.51 7.27% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.58 11.68 6.43% Meristem Money Market Fund 10.00 10.00 11.29% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 100.24 100.24 8.36% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.81% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.61 1.64 2.05% PACAM Fixed Income Fund 11.86 11.92 6.28% PACAM Money Market Fund 10.00 10.00 9.25% PACAM Equity Fund 1.39 1.40 -2.47% PACAM EuroBond Fund 115.50 118.70 1.59% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 123.97 126.50 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,438.22 3,470.15 1.49% Stanbic IBTC Bond Fund 242.78 242.78 3.06% Stanbic IBTC Ethical Fund 1.34 1.36 7.14% Stanbic IBTC Guaranteed Investment Fund 327.65 327.66 4.64% Stanbic IBTC Iman Fund 250.65 254.19 7.42% Stanbic IBTC Money Market Fund 1.00 1.00 10.27% Stanbic IBTC Nigerian Equity Fund 11,423.92 11,577.31 4.70% Stanbic IBTC Dollar Fund (USD) 1.35 1.35 4.16% Stanbic IBTC Shariah Fixed Income Fund 120.01 120.01 2.65% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 113.06 113.06 6.29% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.91 0.93 3.24% United Capital Balanced Fund 1.32 1.33 1.06% United Capital Wealth for Women Fund 1.14 1.15 10.15% United Capital Sukuk Fund 1.09 1.09 7.24% United Capital Fixed Income Fund 1.92 1.92 6.33% United Capital Eurobond Fund 123.90 123.90 5.86% United Capital Money Market Fund 1.00 1.00 11.46% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.33 13.44 1.04% Zenith ESG Impact Fund 15.22 15.36 4.09% Zenith Income Fund 23.20 23.20 5.67% Zenith Money Market Fund 1.00 1.00 10.54% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.63 3.73 -9.46% Vetiva Consumer Goods Exchange Traded Fund 5.76 5.86 -1.48% Vetiva Griffin 30 Exchange Traded Fund 17.18 17.38 -2.80% Vetiva Money Market Fund 1.00 1.00 9.95% Vetiva Industrial Goods Exchange Traded Fund 18.13 18.33 -9.20% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 136.78 138.78 -13.22%

REITS NAV Per Share

Yield / T-Rtn

119.29 52.14

5.27% 2.50%

Bid Price

Offer Price

Yield / T-Rtn

14.06 119.97 95.22 16.40 17.10

14.16 122.99 97.30 16.50 17.20

0.52% -5.62% -4.55% -11.94% 5.93%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

28 T H I S D AY FRIDAY OCTOBER 14 2022 TR

UT H

& RE A S O

Friday October 14, 2022 Vol 27. No 10048

N

opinion@thisdaylive.com

www.thisdaylive.com

RE: YEMI OSINBAJO, BOLA TINUBU AND QUEEN ELIZABETH’S FUNERAL ETIM ETIM urges Femi Fani-Kayode to devote his attention to the APC candidate and help him win the forthcoming election

See page 21

A DIFFERENT CLASS OF SPOKESMEN

Some combative spokesmen are becoming their candidates’ albatross, contends AUSTIN ISIKHUEMEN See page 21

EDITORIAL

TIME FOR A POLICY ON PLASTICS

See page 22

1

The alarm on vested interest’s move against the electoral umpire’s boss should be taken seriously, writes BOLAJI ADEBIYI

THE RENEWED FIGHT AGAINST YAKUBU AND HIS BVAS Going by the saying that there is QR VPRNH ZLWKRXW ÀUH WKH DODUP UDLVHG E\ ,NHQJD 8JRFKLQ\HUH WKH VSRNHVSHUVRQ RI WKH &RDOLWLRQ RI 8QLWHG 3ROLWLFDO 3DUWLHV WKDW WKHUH LV D WKLFN SORW WR XQVHDW 0DKPRRG <DNXEX the chairman of the Independent 1DWLRQDO (OHFWRUDO &RPPLVVLRQ PXVW EH WDNHQ VHULRXVO\ 7KH FRDOLWLRQ·V FKLHIWDLQ VSRNH PLGZHHN DQG WROG WKH PHGLD WKDW WKH HOHFWRUDO FKLHI·V RͿHQFH ZDV KLV LQVLVWHQFH RQ WKH XVH RI WKH %LPRGDO 9RWHU $FFUHGLWDWLRQ System for the accreditation of voters DV ZHOO DV WKH HOHFWURQLF WUDQVPLVVLRQ RI UHVXOWV RI WKH LPSHQGLQJ JHQHUDO HOHFWLRQ Coming from the opposition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happen given the rigorous process ODLG GRZQ E\ WKH &RQVWLWXWLRQ DV DOWHUHG IRU WKH UHPRYDO RI WKH &-1 %XW DV LW WXUQHG RXW WKH FKLHI MXVWLFH ZDV VKRZQ WKH GRRU D FRXSOH RI PRQWKV DIWHU WKH FRDOLWLRQ·V ZKLVWOH ZDV EORZQ 1RW NQRZQ IRU HYHQ D ÁDVK RI EULOOLDQFH WKH 0XKDPPDGX %XKDUL administration for once showed some FUHDWLYH DELOLW\ DV LW KDXOHG 2QQRJKHQ EHIRUH WKH &RGH RI &RQGXFW 7ULEXQDO DQ HVVHQWLDOO\ DGPLQLVWUDWLYH FRQWUDSWLRQ RI WKH H[HFXWLYH DUP DQG RQ WKH EDVLV RI DQ H[SDUWH SURFHHGLQJ SURFXUHG WKH RUGHU RI WKH WULEXQDO directing the government to suspend WKH &-1 IURP R΀FH ,W LPPHGLDWHO\ LQDXJXUDWHG ,EUDKLP 0RKDPPHG LWV ZHOO NQRZQ DFRO\WH DV WKH DFWLQJ ERVV RI WKH 6XSUHPH &RXUW 'LVVDWLVÀHG ZLWK KLV REYLRXV XQFRQVWLWXWLRQDO UHPRYDO IURP R΀FH Onnoghen turned to the Court of $SSHDO IRU UHGUHVV 1RW RQO\ ZDV KH HYHQWXDOO\ SUHVVXUHG WR UHVLJQ IURP KLV SRVLWLRQ EXW KLV DSSHDO DOVR ZDV QHYHU DVVLJQHG WDON OHVV RI EHLQJ PHQWLRQHG WR GDWH 7KH EHVW WKDW KH

FRXOG JHW ZDV D ELOO VHHNLQJ WR VHFXUH WKH SRVLWLRQ RI WKH &-1 DQG LQVXODWH LW IURP WKH LQWHUIHUHQFH RI WKH H[HFXWLYH 7KDW OHJLVODWLRQ LV VWLOO VWUXJJOLQJ WR SDVV LQ WKH IHGHUDO OHJLVODWXUH 6R LI WKDW FRXOG KDSSHQ WR D SHUVRQ KROGLQJ WKH KLJK R΀FH RI WKH &-1 WKRXJKW WR EH LQVXODWHG IURP H[HFXWLYH KDUDVVPHQW DQ\ WDON RI D PRYH WR PXVFOH RXW WKH FKLHI HOHFWRUDO XPSLUH VKRXOG EH WDNHQ VHULRXVO\ and concrete steps must be taken to IRUHVWDOO LW SDUWLFXODUO\ EHFDXVH RI the proven capacity of the Buhari DGPLQLVWUDWLRQ IRU PLVFKLHI $OUHDG\ WKHUH DUH D FRXSOH RI ODZVXLWV RQ WKH JURXQG WKDW VXSSRUWV WKH FRDOLWLRQ·V FODLPV WKDW WKHUH LV DQ LQWHQWLRQ QRW RQO\ WR XQGHUPLQH WKH XVH RI %9$6 LQ WKH JHQHUDO HOHFWLRQ EXW DOVR WR VKRZ <DNXEX WKH GRRU EHIRUH WKH HOHFWRUDO FRQWHVW 7KH ÀUVW LV WKH FDVH ÀOHG DW WKH )HGHUDO +LJK Court in Owerri by one Nwankwere 0RUDOH &KLQZHQ FKDOOHQJLQJ WKH FRQVWLWXWLRQDOLW\ DQG WKH OHJDOLW\ RI WKH XVH RI WKH WHFKQRORJLFDO GHYLFH IRU WKH FRQWHVW QH[W \HDU 7KH VXLW ZDV QRW NQRZQ WR WKH SXEOLF XQWLO WKH FRDOLWLRQ OLIWHG WKH YHLO RQ :HGQHVGD\ 1RW D IHZ 1LJHULDQV ZLOO JLYH WKH FRDOLWLRQ WKH EHQHÀW RI WKH GRXEW JLYHQ WKH REMHFWLRQ RI SROLWLFLDQV SDUWLFXODUO\ WKRVH RI WKH UXOLQJ SDUW\ WR WKH XVH RI WHFKQRORJ\ WR PDNH WKH HOHFWRUDO SURFHVV PRUH WUDQVSDUHQW $W LQFHSWLRQ WKH\ VWRQHZDOOHG the passage of the provision that HPSRZHUHG ,1(& WR WUDQVPLW HOHFWLRQ UHVXOWV HOHFWURQLFDOO\ ,W WRRN WKH PRELOLVDWLRQ RI SXEOLF RSLQLRQ E\ &LYLO 6RFLHW\ 2UJDQLVDWLRQV DJDLQVW the suppression of innovation before WKH IHGHUDO ODZPDNHUV OHW JR 0RUH PRELOLVDWLRQ ZRXOG KDYH WR IROORZ WR JHW 3UHVLGHQW 0XKDPPDGX %XKDUL WR VLJQ WKH (OHFWRUDO $FW )RUFHG WR LQFOXGH WKH XVH RI

WHFKQRORJ\ DW WKH GLVFUHWLRQ RI WKH HOHFWRUDO DJHQF\ LQ WKH ODZ WKH antagonists turned their attention to WKH DJHQF\ KRSLQJ WR SHUVXDGH LW WR UHWDLQ WKH ROG ZD\V RI DFFUHGLWDWLRQ DQG UHVXOWV WUDQVPLVVLRQ 7KHLU ÀUVW RSSRUWXQLW\ FDPH GXULQJ WKH ÀUVW VHW RI HOHFWLRQV WKDW ,1(& XVHG WR WHVW UXQ WKH %9$6 $V KDSSHQV GXULQJ HYHU\ H[SHULPHQW WKHUH ZHUH KLWFKHV 7KH SROLWLFLDQV DQG WKHLU DOOLHV VRXJKW WR EORZ WKHVH VQDJV RXW RI SURSRUWLRQ contending that they had been vindicated that the nation was not UHDG\ IRU WKH XVH RI WHFKQRORJ\ LQ WKH HOHFWRUDO SURFHVV %XW <DNXEX FODULÀHG WKDW WKH LQQRYDWLRQ ZDV DW WKH H[SHULPHQWDO stage and that the hitches noticed ZRXOG EH FRUUHFWHG DW VXEVHTXHQW HOHFWLRQV +H ZRXOG EH SURYHG ULJKW E\ WKH UHODWLYH VXFFHVVHV RI WKH GHYLFH GXULQJ WKH JRYHUQRUVKLS HOHFWLRQV LQ (NLWL DQG 2VXQ 6WDWHV ,QFLGHQWDOO\ UDWKHU WKDQ JLYH XS WKH ROG RUGHU SROLWLFLDQV ZRXOG RQO\ GLJ LQ KHQFH WKH SUHVVXUH RQ WKH HOHFWRUDO DJHQF\ WR UHYLHZ LWV VWDQFH +RZHYHU <DNXEX KDV FRQVLVWHQWO\ UHVLVWHG WKH SUHVVXUH XVLQJ HYHU\ SXEOLF HQJDJHPHQW WR SURIHVV KLV FRPPLVVLRQ·V UHVROYH WR EHTXHDWK D WUDQVSDUHQW V\VWHP WKDW ZRXOG GHOLYHU HOHFWRUDO MXVWLFH WR 1LJHULDQV (YHU\ YRWH KH VDLG PXVW FRXQW DGGLQJ WKDW 1LJHULDQV ZRXOG KDYH the opportunity to decide who their OHDGHUV ZRXOG EH :LWK KLV REVWLQDF\ LW VKRXOG EH RI QR VXUSULVH WKDW HOHFWRUDO LQÀ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·V DVVHWV GHFODUDWLRQ IRUPV Adebiyi, the managing editor of THISDAY Newspapers, writes from bolaji.adebiyi@ thisdaylive.com

T H I S D AY

3 29

FRIDAY OCTOBER 14 2022

ETIM ETIM urges Femi Fani-Kayode to devote his attention to the APC candidate and help him win the forthcoming election

RE: YEMI OSINBAJO, BOLA TINUBU AND QUEEN ELIZABETH’S FUNERAL , UHDG D IXOO SDJH DUWLFOH LQ 7+,6'$< RI 6DWXUGD\ 2FWREHU ZLWK WKH DERYH KHDGOLQH ZULWWHQ E\ )HPL )DQL .D\RGH ZLWK D OLWWOH EHPXVHPHQW , DP D ELW SHUSOH[HG WKDW )). LV VWLOO REVHVVHG with the Vice President. When he was in 3'3 )DQL .D\RGH VSHQW PRVW RI KLV WLPH LQVXOWLQJ 3URI 2VLQEDMR 3UHVLGHQW %XKDUL and even Bola Ahmed Tinubu. After GHFDPSLQJ WR $3& DERXW D \HDU DJR , DP wondering why he is still needling the Vice President. ,Q WKH DUWLFOH )DQL .D\RGH LV XUJLQJ Prof Osinbajo to join the campaign train and start stumping for Tinubu. The long introductory part of the piece about the VP’s attendance of the Queen’s funeral DQG WKH ÁDWWHULHV KH KHDSHG RQ 2VLQEDMR were only to set the stage for the object of

WKH DUWLFOH 2VLQEDMR VKRXOG PDNH D IXOO WKURDWHG VXSSRUW IRU 7LQXEX WKH PDQ ZKRP DFFRUGLQJ WR )). QRPLQDWHG WKH law professor for the VP job. I recall that VRRQ DIWHU WKH $3& FRQYHQWLRQ LQ -XQH Osinbajo had openly congratulated Tinubu on his nomination and expressed his support to the candidate and the party. If it now seems that the VP has since turned lukewarm towards the Tinubu presidential SURMHFW LW LV EHFDXVH RI WKH 0XVOLP 0XVOLP ticket which Osinbajo has opposed openly on two notable occasions. It is therefore a matter of principles and conscience that Osinbajo is standing aloof from Tinubu.

There is nothing personal about it.

7KH ÀUVW WLPH 3URI 2VLQEDMR KDG H[SUHVVHG GLVJXVW DW 0XVOLP 0XVOLP WLFNHW ZDV LQ EHIRUH KH ZDV HYHQ considered for the VP position. By one well publicized account narrated by no lesser a person than former Ogun State JRYHUQRU ,ELNXQOH $PRVXQ VRRQ DIWHU Buhari won the nomination in December , DWWHQGHG WKDW FRQYHQWLRQ 7LQXEX put forward himself to Buhari as a running mate even before the convention. Prof Osinbajo was one of the several chieftains of the party that opposed the idea because both he and Buhari are Muslims. Tinubu was so angered by Osinbajo’s objection that he swore never to support the prof. again and when his name eventually FDPH XS DV D QRPLQHH WR UXQ ZLWK %XKDUL Tinubu objected.

1RZ IDVW IRUZDUG WR ODVW -XQH ZKHQ Tinubu emerged as the APC standard EHDUHU 2VLQEDMR ZDUQHG DJDLQVW VDPH faith ticket and gave his reasons in several interviews. Vanguard newspaper of July UHSRUWHG ¶·2VLQEDMR FRXQVHOOHG

APC chieftains and Tinubu to avoid an XQEDODQFHG WLFNHW DUJXLQJ WKDW VXFK ZRXOG simply be untenable and an unnecessary ULVN 7KH 93 H[SODLQHG WKDW WKH ORJLF fairness and justice of a balanced ticket is unassailable. The argument that merit VKRXOG EH FRQVLGHUHG DERYH D 0XVOLP Christian balance presents a false choice. It is not one or the other. You can get all the merit you want in a balanced ticket’’.

Given the avalanche of opposition from a cross section of the Christian FRPPXQLW\ WR WKH 7LQXEX 6KHWWLPD WLFNHW 2VLQEDMR ZDV YHU\ SUHVFLHQW LQ KLV prognosis. The Christian Association of 1LJHULD &DWKROLF %LVKRSV WKH (YDQJHOLFDO 3DVWRUV WKH 3HQWHFRVWDO )HOORZVKLS RI Nigeria and the Church as a whole have RSHQO\ VFRͿHG DW WKH 0XVOLP 0XVOLP ticket. It is the reason the APC ticket is XQGHUSHUIRUPLQJ LQ SROOV DIWHU SROOV HVSHFLDOO\ LQ WKH 6RXWK (DVW 6RXWK 6RXWK and the Christian belt of Northern Nigeria. ,W LV WKHUHIRUH SUHSRVWHURXV IRU )). WR H[SHFW WKH 9LFH 3UHVLGHQW WR WXUQ DURXQG EOXQW KLV FRQVFLHQFH DQG EDFN 7LQXEX QRZ three months after he forewarned of the danger of nominating a Muslim running mate. It shouldn’t happen. Osinbajo is not FKDPHOHRQLF ZKHQ LW FRPHV WR SULQFLSOHV EXW 1LJHULDQV ZLOO UHFDOO WKDW )DQL .D\RGH ZDV DQ DUGHQW FULWLF RI 0XVOLP 0XVOLP ticket when he was in the PDP. ,Q D SUHVV FRQIHUHQFH KH JDYH LQ D FOLS RI ZKLFK LV QRZ WUHQGLQJ RQOLQH )). had lashed out at the ambition of Tinubu to be a running mate to Buhari on the expectation that ‘’given the questionable KHDOWK VWDWXV RI *HQHUDO %XKDUL 7LQXEX who is desperate to be President for his VHOÀVK UHDVRQV ZLOO VLPSO\ EX\ KLV WLPH LQ the evil expectation that Gen. Buhari will not be able to go the whole hog….’’. ,Q WKRVH GD\V )). ZDV DOZD\V WDONLQJ about Muslim domination and constantly UHIHUULQJ WR $3& DV WKH -DQMDZHHG SDUW\ DQ allusion to the Sudanese Arab militia group WKDW RSHUDWHV LQ 6XGDQ SDUWLFXODUO\ LQ WKH Dafur region and eastern Chad. The group was responsible for cold blooded murders RI WKRXVDQGV RI LQQRFHQW FLWL]HQV HVSHFLDOO\ &KULVWLDQV GXULQJ WKH 6XGDQHVH FLYLO ZDU )). UHSHWLWLYHO\ FDOOHG %XKDUL D 0XVOLQ )XODQL -LKDGLVW DQG DQWL &KULVW ZKRVH PDLQ REMHFWLYH ZDV WR IXOÀO WKH GUHDP RI 8WKPDQ 'DQ )RGLR ¶·WR GLS WKH .RUDQ LQ WKH $WODQWLF 2FHDQ·· +DV )). UHFDQWHG WKHVH ZRUGV" 2U has he simply moved on as if we had all IRUJRWWHQ" , KDYHQ·W )URP ZKDW , NQRZ 3URI 2VLQEDMR KDV no personal aversion or dislike for Tinubu DQG 6KHWWLPD ,Q IDFW ZKHQ 6KHWWLPD ZDV JRYHUQRU RI %RUQR 6WDWH 2VLQEDMR chose Borno to build schools for children RUSKDQHG E\ %RNR +DUDP DWWDFNV The VP loves Muslims as well as he loves &KULVWLDQV DQG SHRSOH RI RWKHU IDLWKV IRU WKH %LEOH LQVWUXFWV XV WR ORYH RQH DQRWKHU as Christ loved us. Prof Osinbajo is a man of deep spiritual and moral standing and WKLV LV ZKDW LQÁXHQFHV KLV NLQG RI SROLWLFV ,W LV WKHUHIRUH UHSUHKHQVLEOH JLYLQJ WKH GHHS GLYLVLRQV LQ WKH FRXQWU\ WRGD\ WR LQVLVW RQ D VDPH IDLWK WLFNHW DQG LW LV XQWKLQNDEOH that the VP will switch position.

Etim is a member of APC, journalist and author

Some combative spokesmen are becoming their candidates’ albatross, contends AUSTIN ISIKHUEMEN

A DIFFERENT CLASS OF SPOKESMEN :KR LV D VSRNHVPDQ" +H VKH LV D SHUVRQ that speaks as the representative of another RU RWKHUV RIWHQ LQ D SURIHVVLRQDO FDSDFLW\ +H is expected to present the good side of his SULQFLSDO WR WKH RXWVLGH ZRUOG +H LV JHQHUDOO\ expected to be a likeable and pleasant individual who is knowledgeable about the DUHDV RI LQWHUHVW FRQFHUQV DQG REMHFWLYHV RI WKH principal. Most importantly he is expected to have a robust relationship with the press and ensure everything he does or says are in tandem with tactics and strategies in furtherance of the principal’s objectives. %XW ZH KDYH VHHQ LQ UHFHQW WLPH HVSHFLDOO\ since the beginning of this new general elections cycle that will culminate in the swearing in of HOHFWHG R΀FLDOV LQ 0D\ D GLͿHUHQW FODVV RI VSRNHVPHQ 7ZR VSRNHVPHQ FRPH WR PLQG and they serve two of the biggest political parties in Nigeria. I have coined a name for this new style spokesmen. I call the name of the practitioner of this new combative model smokesmen. No. I don’t mean that they smoke.

It is the obfuscation and adept practice of the DUW RI /DL 0R PDNLQJ LW LPSRVVLEOH IRU WKH SXEOLF WR VHH NQRZ WKH WUXWK WKDW HQJHQGHUV the smoke impact.

I call the name of the practitioner of this new combative model smokesmen.

No. I don’t mean that they smoke. It is the obfuscation and adept practice of the art of Lai Mo, making it impossible for the public to see/know the truth that engenders the smoke impact The other of the troika appointed as spokesman but he has been present by his absence and his silence has been very loud. I hear he is a technocrat and very experienced in PDWWHUV RI SXEOLF UHODWLRQV LPDJH ODXQGHULQJ and information dissemination but we are \HW WR VHH RU KHDU VR KH FDQQRW EH HYDOXDWHG for smokesmanship or lack of it in this piece. :KHQ ZH VHH KLP ZH ZLOO DVVHVV KLP DQG VHH if he brings opacity or adds transparency to his party’s quest for election victory.

One of the practitioners of smokesmanship told us that reading from home without going to a formal educational institution and SDVVLQJ H[DPV LV FRQVLGHUHG D YLUWXH DQG LQ IDFW FHOHEUDWHG 6RXQGV WUXH DQG FUHGLEOH $IWHU DOO WKHUH DUH PDQ\ VXFFHVVIXO PHQ ZKR did home studies. I recall those days when ZH ZHUH LQ SULPDU\ VFKRRO WKHUH ZDV 5DSLG Results College which we always saw in my headmaster’s Daily Times Newspaper. It was a correspondence college. There must have been many ‘graduates’ of that institution. But ZKDW WKH VPRNHVPDQ GLG QRW VD\ RU FDUHIXOO\ DYRLGHG LV WKDW WKRVH ZKR UHDG IURP KRPH KDG WR VLW H[DPV DQG DFTXLUH FHUWLÀFDWHV WKHUHE\ +H FDUHIXOO\ FRYHUHG WKDW DVSHFW LQ VPRNH 3OHDVH ZKHQ \RX VHH KLP DVN KLP WR VKRZ WKH FHUWLÀFDWHV DV WKDW ZDV ZKDW PDGH the process virtuous. We do not want those saying education is a scam to get a SAN as a supporting prop.

The other smokesman comes across as someone who cannot distinguish between comedy and spokesmanship.

Abrasive FRPHG\ DW WKDW +H PXVW KDYH OHDUQW LQ WKH )).

school of garrulous smokesmanship and showmanship with double honours. For someone who donned a Doctoral Academic *RZQ WR SURYH D JRW D ÀUVW GHJUHH QR DEVXUGLW\ LV EH\RQG OLPLWV 7KHVH GD\V you are not even sure if he was hired to market his principal or his role is to use the principal’s campaign to burnish his own image. Check his Twitter handle and see his photos splashed copiously and gaudily with ample display of expensive sartorial accoutrements with sparse mentions of the principal. Then a lot of smoke.

2Q 7HOHYLVLRQ WKHVH VPRNHVPHQ FRPH across as people who has an axe to grind with journalists who are trying their utmost best to peel the political onions to enable the citizens to see what lies inside the opaque labyrinth. They attack these members of the fourth Estate of the Realm ZLWK VRPH XQFRXWK DFFXVDWLRQV LUUHYHUHQW interjections and even refusal to allow the journalists play their role of asking the questions. Go to social media and see for yourself where a spokesman turns to an inquisitor during an interview in an DEVXUG UHYHUVDO RI UROHV 8SSLW\ DUURJDQW DQG FRQGHVFHQGLQJ WKH\ PDNH \RX wonder whether they came to explain their principals’ cause or use their abrasiveness to demarket them.

2QH RWKHU DVSHFW , ÀQG RͿ SXWWLQJ LV their arrogant claims that the elections are as good as won by their principals. The same elections that are four months away.

7KH\ VRXQG DV LI WKH\ KDYH DOUHDG\ WKXPS printed the ballot papers but merely awaiting the date to put them in the ballot box or they have an understanding with INEC. Either those or the worst scenario – that Nigerian voters are fools who cannot discern what is good for them and would vote for their oppressors. They see their role as that of telling the voters that their SDUW\ ZLOO ZLQ QR PDWWHU ZKDW UDWKHU WKDQ persuading them to vote for their principal to enable him win.

Another common thread that runs WKURXJK WKH DUJXPHQWV RI WKHVH VPRNHVPDQ DQG WKHLU SULQFLSDOV IRU WKDW PDWWHU LV their condescending attitude towards the youths. They derogatively and derisively refer to those active on social media as not ZRUWK\ RI DQ\ DWWHQWLRQ EHFDXVH DFFRUGLQJ WR WKHP WKHUH LV QR YRWLQJ RQ VRFLDO PHGLD They claim the youths who are routing IRU WKH UHYROXWLRQDU\ PRYHPHQW RU ZKDW SHRSOH KDYH WHUPHG WKH WKLUG IRUFH DUH MXVW QRLV\ \RXWK ZKR WKH\ WUHDW DV LQVLJQLÀFDQW in their quest to continue in or take over SROLWLFDO SRZHU <HW LQ WKHLU SHUVRQDO capacities they live and breathe social media and are supposed to be a bridge between the ‘ancestors’ and the youth.

But they seem to enjoy ancestral worship more. I hear the pecuniary recompense is alluringly sumptuous.

What was their stand on the political matches that culminated in the massive UDOOLHV RI 2FWREHU VW " ,QVWHDG RI ZRRLQJ WKH \RXWK DUJXDEO\ WKH ODUJHVW EORFN RI UHJLVWHUHG YRWHUV WKH\ DUH EHLQJ called names and sometimes painted with the ENDSARS tar in order to make then look bad. Why don’t they courageously VWDUW ´5(680(6$56µ LQ WKHLU PDQLIHVWR" That would be courageous indeed! auxtynisi@yahoo.com

30 4

T H I S D AY

FRIDAY OCTOBER 14, 2022

EDITORIAL

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

TIME FOR A POLICY ON PLASTICS Nigeria could do more to protect the environment

R

eports that about 90 per cent of the plastic waste generated in Nigeria is not recycled and that our country ranks ninth globally among countries with the highest contribution to plastic pollution should concern relevant authorities.

According to experts, the process of manufacturing plastics and its disposal through burning/ incineration is harmful to workers and that it does not decompose makes farming cumbersome and kills livestock. Also, studies show that single-use plastics are harmful to the environment and have suggested that manufacturers of plastics can switch to reusable products because singleuse plastics’ waste can take up to a thousand years to decompose in dumpsites.

Scientists have raised global concern that plastics pose unimaginable danger to humanity and may reach crisis levels unless deliberate actions are taken to reverse the trend. The warning is particularly important for Nigeria since it is believed that plastic bags and bottles that are used daily can take hundreds of years to decompose. Yet, because single-use plastics are light, strong, can be shaped easily and cheap to produce, they litter the entire national landscape today. And as hazardous as that is for the future of our country, the government is not paying attention.

The Nigerian Conservation Foundation (NCF) believes the disposal of plastic waste needs to be handled with urgency and that everyone has a critical role to play in mitigating the issue at the household, national, regional, and global levels. Plastics, according to the United Nations Environment Programme (UNEP), may constitute more of foreign materials in the sea than marine mammals by year 2050, and this would eventually lead to the destruction of sea life, and adversely alter the ecosystem and human race.

With worldwide awareness and action for the protection of the environment, there is an urgent

need for government at all levels in the country to trigger actions that would control the production and use of plastics that are not reusable or cannot decompose. Nigeria’s environment is indeed polluted by all manner of plastics–from the straw for sipping beverages to those used for packaging and storage.

The nagging question that keeps cropping up is, what can be done about the menace that neither the society nor the authorities seem to be paying attention to?

(YHU\ERG\ LQ HLWKHU D KRXVHKROG RU R΀FH RU neighbourhood in the country has various types of plastics that are not recycleable/reusable and which at end-of-life are littered on the streets, caught in fences and trees, dumped in drains, rivers and lagoons, the ocean, and all manner of places where they cannot decompose. This is where the problem lies. The federal government, we understand, only made a feeble attempt to ‘mark’ the World Environment Day at the Presidential Villa in Abuja but not even a whisper of what was discussed got out of the four walls of the room where the meeting took place. Naturally, no event took place in DOO WKH R΀FHV RI WKH )HGHUDO 0LQLVWU\ RI (QYLURQPHQW in the states for undisclosed reasons.

The federal government needs to take concrete actions to protect the environment and rid it of plastics as some African countries have done by placing a ban on plastic bags, which are the most used form of plastics. Some of the African countries that have banned plastic bags include Benin Republic, &DPHURRQ &KDG (ULWUHD (WKLRSLD 0RURFFR 0R]DPELTXH 0DODZL 1LJHU 5ZDQGD 0DGDJDVFDU Senegal, Gabon, Gambia, Guinea-Bissau, Ivory Coast, Tanzania, Tunisia, and Kenya while Botswana and South Africa introduced high levies on plastic bags.

This has led to many retailers charging a fee on plastic bags and consequently a reduction in its use in both countries.

Nigeria should also decide on plastic pollution in the overall interest of our people and future generations.

Nigeria should decide on plastic pollution in the overall interest of our people and future generations

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS

AN HONOUR FOR OSITA IZUNASO ‘’There are men who lift the age they inhabit, till all men walk RQ KLJKHU JURXQG LQ WKDW OLIH WLPH ·· 0D[ZHOO $QGHUVRQ 7KH preceding quote best describes Senator Osita Izunaso who was recently conferred with the prestigious national honour of OfÀFHU RI )HGHUDO 5HSXEOLF RI 1LJHULD E\ WKH 3UHVLGHQW DQG &RPPDQGHU LQ &KLHI 0XKDPPDGX %XKDUL The recognition did not come to Nigerians as a surprise for despite the fact that Senator Izunaso played a leading role to EULQJ WKH $OO 3URJUHVVLYHV &RQJUHVV WR SRZHU DV WKH ÀUVW HOHFWHG National Organising Secretary, he has since 2006 registered in the consciousness of Nigerians with the establishment of the Kpakpando Foundation. This foundation has since its inception embarked on the arduous task of catering for the needs of persons with disability in Nigeria.

With about 5000 members, the foundation as of today has enrolled 500 of its members in its scholarship scheme in various secondary and tertiary institutions across the country. Similarly about 300 of the members have also been empowered to start their own businesses.

They have even gone a step further to equip the members with requisite skills to enable them compete with others in our

technologically-driven world. Towards this end the Kpakpando Foundation has provided communication gadgets, sewing machines, grinding machines, clutches and many other tools that can enhance the movement and productivity of the persons with disability.

Apart from Senator Osita Izunaso’s sterling performance in the political arena and which has seen him replacing one of Nigeria’s most iconic and prominent politicians, late Senator Frnacis Arthur Nzeribe as the senator for Imo West (Orlu Senatorial Zone), he has through the instrumentality of the Kpakpando Foundation spearheaded the advocacy for the Disability Rights Bill and it received the blessing of the National Assembly which passed it and was assented into law by PresiGHQW 0XKDPPDGX %XKDUL As a political strategist he along with other political juggernauts navigated the murky waters of Nigeria’s politics and ensured that the nascent All Progressives birthed to national power in 2015.

7KHUHIRUH LW LV ZHOO GHVHUYHG WKDW WKH SUHVLGHQW 0XKDPPDGX %XKDUL GHHPHG LW ÀW WR UROO RXW WKH GUXPV WR FHOHEUDWH Senator Izunaso among other prominent Nigerians at the 2022

National Honours Awards.

There is no doubt that Senator Izunaso has since the beginQLQJ RI WKH IRXUWK UHSXEOLF LQ SOD\HG D VLJQLÀFDQW UROH LQ the growth of Nigeria’s democracy. As a former member of the House of Representatives representing Ohaji/Egbema/Oguta/Oru west federal constituency he helped to advance the country’s legislative process and the foundation he and his National Assembly colleagues laid has continued to solidify and consolidate the democratic gains in the polity. %HWZHHQ DQG ZKHQ KH KHOG VZD\ DV WKH ÀUVW HOHFWed National Organising Secretary of the ruling APC, he deployed a rare managerial acumen and political stratagem towards ensuring that the party activities were conducted in a seamless manner. This approach no doubt made it possible for the APC to easily penetrate all the nooks and crannies of the country within a very short time. This political ingenuity by Senator Izunaso helped to endear the new party to the hearts of Nigerians.

Chukwudi Enekwechi, JP Kwechis19@yahoo.com

This

Weekend

FRIDAY, OCTOBER 14, 2022

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& R E ASO

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WEEKLY MAGAZINE

NEWS Siju Iluyomade Unveils Theme For Arise 2022 es Programme, Highlights Series Of Events See page 33

ART WEEKEND D WANDAA’s Wonderful Independence Day Treat See page 34

POLSCOPE Lawan, Akpabio, INEC and Senatorial Tickets See page 35

VICTOR MUOGHALU:

Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com om

07010510430

Revolutionising Nigeria’s Gaming Industry

32

T H I S D AY ˾ ͯͲ˜ ͰͮͰͰ

COVER

Victor Muoghalu: Revolutionising Nigeria’s Gaming Industry ÜÓÍÕÏÜã ËØÎ ÌÜÏËÍÒ ÙÐ ÞÜßÝÞ ËÜÏ ÙʰÏØ ÞÒÏ ÐËÞÏ ÙÐ ÍßÝÞÙ×ÏÜÝ áÒÙ ÚËÜÞÓÍÓÚËÞÏ ÓØ ÑË×ÓØÑ ËØÎ ÖÙʵÏÜã ÓØ ÓÑÏÜÓË ÚÜÓ×ËÜÓÖã ÎßÏ ÞÙ ÞÜËØÝÚËÜÏØÍã ÓÝÝßÏݲ ÙáÏàÏܘ áÓÞÒ ÞÒÏ ÖËßØÍÒ ÙÐ˿ ÙÌÙÌÓÎ ßÍÞÓÙØݘ˿ÞÒÏ ×ÙÝÞ ÚÜÙ×ÓØÏØÞ ÑË×ÓØÑ ÚÖËÞÐÙÜ× áÓÞÒ ÞÒÏ ×ÙÝÞ ÓØÞÏÜËÍÞÓàÏ ÐÏËÞßÜÏÝ ÓØ ÐÜÓ͢ ÞÒÏ ÑË×ÓØÑ ÓØÎßÝÞÜã ÓØ ÓÑÏÜÓË ÓÝ ÌÏÓØÑ ÜÏàÙÖßÞÓÙØÓÝÏβ ÒÏ ÒÓÏÐ âÏÍßÞÓàÏ ÙÐ ʩÍÏÜ ÙÐ ÞÒÏ ÑË×ÓØÑ ʨÜט˿ ÓÍÞÙÜ ßÙÑÒËÖß˿˿ÓØ ÞÒÓÝ ÓØÞÏÜàÓÏá áÓÞÒ˿MARY NNAH ÏâÚÖËÓØÝ ÒÙá˿ ÙÌÙÌÓÎ˿ÓÝ ÐßÏÖÓØÑ˿ÓØÞÏÜËÍÞÓÙØ˿ËØÎ ÏâÍÓÞÏ×ÏØÞ˜ ËÝ áÏÖÖ ËÝ ÚÜÙàÓÎÓØÑ ËÖÞÏÜØËÞÓàÏ áËãÝ ÐÙÜ ÚÏÙÚÖÏ ÞÙ ËʥÙÜÎ ÏâÚÏØÝÓàÏ ÑÙÙÎÝ ËØÎ ÞÜËØÝÐÙÜ× ÞÒÏ ØÏÑËÞÓàÏ Ó×ËÑÏ ÙÐ ÞÙÙ̋ÍÒÏËÚ̋ÞÙ̋ÌÏ̋ÞÜßÏ˿áÒÓÖÏ Ó×ÚÜÙàÓØÑ ÚÏÙÚÖÏ˪Ý ÝÞËØÎËÜÎ ÙÐ ÖÓàÓØÑ are Africans. I did more digging and research on it and find that it narrows down to religious factors. The more religious you are, the more you are into betting. While you belong to the one percent that says betting is against my religion, others are saying ‘This is where God has told me I’m going to make it.’ It is in poor countries that you get a lot of gamblers because these people believe in luck and this is where their luck would shine. I have heard people say ‘I would pray on this ticket and it would win.’ This is the psyche of gamblers.

When you look at Nigeria, you discover that Nigerians are extremely religious. At this point, the economic downturn keeps biting.

Unemployment keeps getting worse. Inflation is up which means people can’t afford what to eat or buy. So, most people are looking for the next miracle. When you flip the situation and people become better and more employed, the next thing is they look at the amount of disposable income they have to play with. At that point, it becomes a habit. Remember when you start smoking, you don’t start overnight.

So gaming is here to stay and it’s not going anywhere. And it is simply because of the social, religious and economic conditions in Nigeria and Africa as a whole.

What is Kobobid and how does it work? obobid formation was born based on the following ideas: access, authenticity, fairness, and enjoyment. We thrive on the notion that everyone should have the opportunity to get the good things they want from life, to improve their general standard of living. This is why we’ve developed this business to place the opportunity to simply bid for what you want right at your fingertips.

So, with as low as N100, Nigerians can win both cash and products by playing Kobobid in various games.

Over one year after entering the gaming industry, Kobobid has launched four games on the gaming website to drive a unique experience for different players and give Nigerians a feeling of absolute control when they play fun games and win cash or items without the need for any betting skill.

Kobobid games avail Nigerians an opportunity to play and win from game options like Kobobid Auctions, Kobobid Raffle Draw, Kobobid Fantasy Football, and Kobobid Scratch Cards from as low as N100. Players could win cash items ranging from N1k to N1,000,000 and products ranging from consumer electronics, home appliances, phones, and other gadgets.

The uber model aims to allow agents to play Kobobid games with interested players from any geo-location and earn commission on every sale they make.

The interesting part is that you don’t need any start-up capital to begin, all you need is an internet-enabled device to access the gaming website and you are good to start making money.

Also, agents would be trained for free to enable them to understand everything about Kobobid games although the games are self-explanatory.

K

How is the gaming industry contributing to the Nigerian economy?

The gaming industry contributes to the economy. For instance, for every payment that comes in, the government is paid some sum in terms of Value-Added Tax (VAT), and taxes.

We get these complaints from customers a lot.

They don’t understand why they are paying VAT. They tell us they won N500,000 and they feel this is the sum they are supposed to collect.

But someone has to pay taxes on their behalf.

For every prize that goes out, there is VAT that goes straight to the government. And we take that out directly. For the goods that we put up, there are VATs on them that go straight to the government. We have to get our licence fees which go to the government. At the end of the quarter, the government still gets three percent of our gross revenue.

We are starting an agency model where anyone can become an agent for Kobobid and we are doing this to give back to the community. For our agency model, there is no agency fee, no sign-on fee, and no registration fee and there is no retainer fee. It is free. Agencies make their commission instantly from Kobobid with zero naira and they don’t need to know anyone to do this. They can sign up online and start.

With the emergence of Kobobid agents in different areas, Kobobid has created job opportunities for unemployed graduates, also students looking for an extra source of income or looking to make some money during the ASUU strike.

Despite the controversies around this industry, it keeps booming. Who are the players in this industry and how was the experience setting this up in Nigeria?

The business needs a lot of understanding.

It is not for everyone and you still have to be smart to a certain extent to do this. For the scratch cards, anyone can play them. The lesson we have learned in entrepreneurship in Nigeria is if you are going to innovate, you start first with what you already know, and then you add to it. You don’t innovate first because if you do this, you will pay the expensive cost of educating everyone to come up to speed.

The first thing you do is give them what they know, then you give them the additional features to which they are not exposed. This way, the learning process becomes easier for people. So, we took that time to educate people and here we are today. At the end of the day, I would not know what I know today if we didn’t do

Are you registered with Lagos State licencing agencies?

Lagos State did not accept our licence because we belong to Auctioneers. They sent us a letter saying we don’t fall under Lottery because we fall under Mobile Other Games. So we are licence with the Auctioneers Commission of Nigeria and we are registered under the National Lottery Regulatory Commission. So, we are registered under these two national bodies.

Muoghalu

“In business, you can only figure out what works, what did not work, why it did not work and what it works for. There is no right or wrong, it is just that you could have done things in another way.This is because the products are still viable, you just keep educating pe.” this. In business, you can only figure out what works, what did not work, why it did not work and what it works for. There is no right or wrong, it is just that you could have done things in another way. This is because the products are still viable, you just keep educating people.

You said this is not for everyone.

Why? When I say it is not for everyone, I am specific about the penny auction because the penny auction requires you to be smart, have some thinking, skills, and logic. And we have to think about it in terms of intelligence. It is just like me trying to teach someone using

a touch light phone how to use an iPhone.

The I-phone is easy but it is easy because you are already used to something like that. But if all you are using is just a touch light phone, that is a completely different experience where may not even want to start because you think you may never get it. However, we created different games to capture everybody. If you come to Kobobid, there is something for you. If the Penny auction is too complex for you, there is a raffle draw, there is football fantasy for football lovers and there is a scratch card option. There is something for everyone.

You said this industry requires smartness. Is there a level of education to engage in the games?

It requires common sense. An illiterate can also play as long as they have common sense. It is just like playing Candy Crush but the strategy is just different. So as long as you understand strategy, you can play it.

From all indications, the gaming industry has grown exponentially and has defied the economic downturn and current realities. Any particular reason for this?

This is one of the key reasons I relocated to Nigeria. I said to myself that if I am going to quit my sweet job, I need to know that what I am jumping into is worth it. I needed to know if it was a business that is here to stay. When I was doing my research, I did my research first on the American economy and what I found was that most of the people that play in the betting and gaming market

Considering some of the challenges you have encountered, do you think the business would get better and where do you see the brand in the next five years?

In every business, we have to look at it in terms of growth and where we are. We are in a state where we need recognition and brand identity and that is what we are growing now.

People need to understand who we are, recognise that name and let people see who we truly are. We are not scratching the surface at all.

We want to transform what we have and in the next two years, I see us breaking into the market and being one of those household names.

When you talk about betting and the rest, you would remember Kobobid but you are going to remember us for something completely different because we won’t be competing with them but we would be in that space where we are providing you something more unique and something completely different.

This is because of the way we are structured, you will realise it is easy to win on Kobobid without breaking the bank. We want to become like Indomie and Maggi which are brands that people refer to them as specific food items.

This is what we want Kobobid to become.

We want it to become that household name.

So in the next five years, we want to look at it in terms of a conglomerate. My Chief Operating Officer is in New York; my head of Logistics is in Ghana. And these are all people who are industry captains in terms of where they are and in terms of what they do, because of the complexity of the system. I started this in 2017 and I came back to Nigeria to hire a local team to build it and that didn’t work.

In three years I couldn’t get a local team to build this for me. So, I had to go back to the United States.

He is a Nigerian but works in the US with big tech companies. He is very good at what he does in terms of tech. He manages the entire tech. We have local tech teams in Nigeria that support the system daily but he is the brainchild behind the tech aspect. We are trying to expand by using what we have. So, in the next five years, I think we should be in all the African countries. What do I need to be in South Africa? I say South Africa because it’s on my list. They gave us DSTV and we would give them Kobobid. It takes us nothing to do that. If we want to operate in other countries today, we don’t need anything, we just need a licence. We are set up in a way that we are self-sufficient. We can expand anywhere at any time.

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NEWS

Siju Iluyomade Unveils Theme For Arise 2022 Programme, Highlights Series Of Events Stories by Mary Nnah The convener of Arise Walk for Life, Dr. Siju Iluyomade, has said the Arise 2022 programme borders on its transformational agenda and an ideology of passing on from generation to generation, especially in Nigeria, the essence of life which is good living.

Speaking at the press conference to herald this year’s Arise Walk themed “By Appointment”, with hashtagged, “Appointed To Live”, Iluyomade noted that Arise is particular about everyone,

regardless of colour, tribe, and religion, while it is also after everyone being clothed, fed and equipped to earn.

She said; “We want to increase life expectancy and as such, golfing has been introduced to our activities. As researched, golfers enjoy the privilege of long years.”

Arise is interested in preventive health care, unlike the popular practice of being reactive rather than proactive. She noted that a nation will spend far less money if its people can prevent diseases and as simple as exercise; walking is, it provides a long list of benefits

amongst which are reduction of High blood pressure and anxiety.

On the 14th of October, Arise will be having its football match at the Mobolaji Johnson Stadium previously known as Onikan Stadium, and the event will be graced by notable Nigerian football legends like; Daniel Amokachi, Augustine Eguavoen, Samson SiaSia, Uche Okechukwu, Victor Ikpeba, Peter Rufai and sensational striker, Victor Osimhen, luyomade also noted that Arise has enabled Skills Academy which exists to train women to be economically viable.

“It’s time for us to expound a

vision. Arise is seen on the SDG goals; attacking poverty; and as the world is speaking sustainability, we shouldn’t go backward”, she said.

Arise has her fingerprints all over Nigeria and most especially in states like Abia, Owerri and nearly all of Lagos State’s Local Government Areas.

Iluyomade also noted that Arise foundation will continue to administer its vision, which is that everyone must prosper, everyone must be able to afford good education, access clean water and have food on their table.

Siju Iluyomade, 2nd left, with other memebers of the Arise Walk team

Oxford Holdings Inaugurates New Group CEO Oxford Holdings, a multi-sectoral organisation with diversified expressions spanning across key business sectors of the Nigerian and African economy has inaugurated Oluwaseyi Adediran, as its new Group Chief Executive Officer.

Oluwaseyi is succeeding Dr. Mrs. Precious OgunMicheal who has led in the same capacity for two years.

His professional qualifications span being a senior member of the Chartered Insurance Institute of Nigeria (CIIN), a fellow Chartered Institute of Human Capital Development, a fellow of the Institute of Organisational Administrative Risk, a fellow of the Chartered Institute of Loans and Risk, a fellow of the Management of Nigeria (FCILRM) and an associate of Member of Institute of Chartered Economists of Nigeria.

His core competence resolves around strategic planning, Client Relationship Management, In-service training, client needs assessment, market analysis, management and leadership skills, public speaking and profit

maximization.

Oluwaseyi holds a postgraduate degree in management from Bayero University, Kano and is happily married with children.

Speaking during his inauguration, Oluwaseyi, the incoming group chief executive officer of Oxford Holdings said the company will be diversifying in so many dimensions, one of which is the banking sector.

“We want to play big in the Banking sector. Come this next season, we are looking at having a full-fledged bank. Presently, we have a Microfinance Bank and the present board is working on turning it into a national bank after this, we will turn it into a

full-fledged retail commercial bank in Nigeria,” he said.

Oluwaseyi hinted that the company is embarking on a journey with a destination to be bigger and better, adding that he plans to increase the trust that customers and stakeholders have in the brand.

“We are also going to create a lot of innovative products to meet the yearnings of our customers. We are also going to be resilient and persistent in everything we do. We have the aspiration to increase our income generation.

The Outgoing Group CEO, Dr. Mrs. Precious OgunMichael for Oxford Holding said it has been two amazing

Insight Publicis Wins Leadership Award in Creative Advertising Insight Publicis, Nigeria’s largest and leading creative agency and a member of Publicis Groupe, the world’s third-largest marketing communication network, has emerged winner of the Leadership Award in Creative Advertising at the 2022 Marketing Edge Summit and Awards Night.

The award acknowledges Insight

Publicis’ achievements and impacts in digital and creative advertising over the years. Campaigns from the agency such as Komando’s ‘Girl On Fire; 2sure’s ‘Be The Spec’; Pepsi’s ‘Love It, Live It, and a slew of others have received national and international acclaim while raising the bar in creativity and impactful advertising.

Himel Brings Focus on Safer Electrical Access in Nigeria Himel, a global manufacturer and provider of electrical products, successfully launched a new solarready offer at the recently concluded Nigeria Energy Conference and Exhibition. As a gold sponsor of the event, Himel showcased its latest range of products in Low Voltage Distribution, Final Distribution, Power Factor Correction, Motor Management, Metering, Voltage Stabilizers, Control Components and Home Electric offers while also unveiling components particularly adapted to solar applications to a keen audience.

Delivering on its promise of high quality, affordability, and reliability,

years on the seat as Group CEO and a remarkable journey.

She said in the last two years, Oxford has kept growing, from a single company to a business conglomerate having its footings in about 18 business sectors and delivering well at them.

“In the last two years, we have been able to expand our reach from having three offices to having offices in 18 States in Nigeria and two other African countries. The moment I came on board was the Covid-19 year and for us, it was good and bad; bad for the economy generally and for us, good for us because we were able to harness every problem at that time to become a viable solution”, she noted.

Himel’s new solar-ready offer is designed to easily integrate solar energy into any power source.

The portfolio features a range of switchgear, from air circuit breakers to molded-case circuit breakers, miniature circuit breakers and fuses, with current and voltage ratings specifically developed for all solar applications–centralized, string type and residential.

This was received with compelling enthusiasm by event visitors who flooded the Himel stand throughout the three days of the exhibition.

Speaking at the event, EMEA Vice-President, Himel, Sai Sri Balaji

Lenka, stressed the relevance of this offer as Nigeria and countries worldwide are gearing up towards increased energy efficiency as a possible means of sustainable development.

He said Himel will continue to reinforce its solid footing in the African market to capture new opportunities in urbanization and industrial development, catering to Nigeria’s emerging consumers “We plan to ramp up our accessibility to provide the complete power distribution, power management and industrial automation products assortment that ensure safety and reliability.

There is no doubt that the agency brings an inconceivable depth of creative expertise through its people and has distinguished itself from other key players in the industry, by creating best-in-class campaigns that express quality artistic excellence.

Receiving the award and speaking on behalf of the company, Creative Director, Insight Publicis and Group Creative Director, Redefini, Sinmisola HughesObisesan, said, “We are humbled by this recognition.

“This win is a testament to the excellent work at Insight Publicis.

We will continue to be the leading creative community of storytellers, culture shapers and collaborators, bringing brand stories to life”.

Also commenting on the award and Insight Publicis’ role in topnotch creative advertising, Client Service Director, Jones Bassey, said, “It’s an honour to have emerged winner in the Creative Advertising category. For us at Insight Publicis, we remain committed to changing the face of advertising in Nigeria and the global space”.

The Marketing Edge Annual Summit and Excellence Awards

NDIGBO HAILS BUHARI FOR HONOURING OKONKWO WITH OFR Uzoma Mba For bestowing one of their illustrious sons, Professor Obiora Okonkwo, with the prestigious and coveted Officer of the Federal Republic (OFR) award, Ndi Igbo have hailed President Muhammadu Buhari.

Okonkwo, the managing director of United NigeriaAirlines, was one of the few Nigerians to get the award on Tuesday, October 11, 2022.

Leading the plaudits, an enterpreneur, Dr. Okechukwu Okafor, Okonkwo who was elated over the honour done to Okonkwo, described him as a man of multiple competences, an academician and a business mogul who has brought pride to Ndigbo and Nigeria in general.

Mr. Okafor hailed Buhari for remembering Okonkwo, adding that the president did not make a mistake in selecting him for the award.

“Buhari has done Ndigbo a honour, because we have been crying of marginalisation, and, with the honour to some of our children, especially Okonkwo, it shows that we are being remembered.

“We are glad that he was among the few people on the federal government’s honours list. It’s a welcome development and we believe that the federal government should go a step further to actually engage him and others in the running of this country, because these are the people we need to actually help Nigeria grow.

“He has multiple competences. He was one of the governorship candidates in the last election in Anambra State, and we believe that, one day, he will be in a position to lead Anambra or this country.

“He’s one of the very few Nigerians that are qualified in all ramifications. We are offering him and other worthy sons and daughters of the South East to the country and the world as good leaders that can make change where it’s needed.”

For instance, he pointed out that Okonkwo was an entrepreneur who has created many jobs in his different companies at home and in the diaspora.

“If you go through his profile, you’ll see that he’s loaded. He has added so much value to individual lives and the country as a whole, and we need leaders like that who are dedicated and qualified,” Okafor said, describing Okonkwo as a round peg in a round hole.

He also explained that one of the causes of problems in the country was because some people put round pegs in square holes, which was why things were not going right, but individuals like Okonkwo would right the wrongs in this country and Nigeria would be able to amass human and natural resources, to the advantage of all citizens.

“I thank God that he is already into politics, because one of the problems we have in this country is that the right people are shying away from politics and the wrong people are there; so, we need to get the right people in so that we get the desired change.

“I am very happy that the government is recognizing people like Okonkwo, but my advice to the federal government is that it should look for experts, especially from the private sector and the academia. “ We have people that will come and deliver. We have the likes of Dora Akunyili, of blessed memory. So, when we get people like High Chief Obiora Okonkwo, a professor, it will go a long way in solving most of our economic and social problems. He has what it takes to make that change,” he said.

Still expressing happiness over Okonkwo’s national honour, he admonished other people of Igbo extraction to aim for inclusiveness in Nigeria, saying, “We should take it easy. It is always better to come to the negotiation table so that we can talk over things and then get things done the right way.

“The way we are going about it, where we are, we are marginalized, everybody knows, but it’s something we need to sit down and negotiate. It is better to always dialogue to solve problems, that’s my own personal decision about it.

“We need to work together, point out where the injustice is and proffer suggestions, then the federal government will come to terms and we will resolve whatever the differences are. So, it is something that has to be taken with ease.”

Okonkwo is a professor of Business at the University of Abuja Business School and a visiting professor of Entrepreneurship at the Nnamdi Azikiwe University, Awka, Anambra State. He is, among others, chairman, United Nigeria Airlines, one of the leading airlines in the country.

A native of Ogidi, in Idemili North Local Government Area of Anambra State, Okonkwo was born on December 5, 1965, in Gombe.

He was educated at the Russian Peoples Friendship University in Moscow, where he graduated with first class in Economics and Management of National Economy.

He also obtained a master’s degree, also in Economics, from the same university, with distinction, before proceeding to the Russian Academy of Science, Institute of World Economy and International Relations, in Moscow, for his doctorate, which he bagged with distinction. He remains the only student in the university’s Department of Economics since inception in 1960 to graduate successfully with first class degree after combining two academic years of the postgraduate courses.

As a student in Moscow, Okonkwo created his first business and started a Nigeria-Russia import and export trade, which employed fellow students.

The collapse of the USSR created the opportunity for him to explore more business openings in other countries of the old eastern bloc.

He, however, returned and settled in Nigeria to lend his hand to national development through the creation of the first multi-purpose entertainment centre in the Federal Capital Territory, Abuja, named The Dome Entertainment Limited.

He sits on the board of several businesses, spanning security, engineering, communications, property/housing and so on.

Okonkwo will be remembered for facilitating the negotiation and signing of bilateral trade promotion and investment protection agreement between Nigeria and Belgium.

He was involved in the process that led to debt pardon for Nigeria

by Belgium up to the tune of $500 million and facilitated the listing of Nigeria in the trade-favoured country chart with Belgium, which made the Belgian government guarantee investment and trade risk of Belgian nationals and companies engaged in business in Nigeria.

This attracted a lot of investments from Belgium to Nigeria.

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ART WEEKEND

…For pure art enthusiasts

WANDAA’s Wonderful Independence Day Treat The second edition of the unique cultural expo and extravaganza, WANDAA held on Nigeria’s 62nd Independence Day spells the birth of cultural renaissance. Yinka Olatunbosun reports

WONDERLAND LAGOS 2022 SET TO REJIG HOLIDAY EXPERIENCE Yinka Olatunbosun

Co-Executive Producer, WANDAA, Aisha Sanni Shittu

T

hesettingwasreminiscentofLeonardoda Vince’siconicpainting“TheLastSupper’’ except for the fact that it wasn’t the last.

It was the second edition of its kind- the WANDAAexperience. Astheacronym for “WeAre Not So DifferentAfterAll,’’ WANDAAis a quarterly event showcasing different cultures. For the Independence edition, Edo culture was celebrated at the MUSON centre, Onikan.Amishmash of Benin cultural dances and a reenactment of the coronation, the event was both a visual and culinary delight as the guestswereservedthebestdelicaciesfromEdostate.A production of Odyssey Project withAisha Sanni Shitu astheco-executiveproducerandhostess,thedaywore

on with discourse on the history of Edo state and how the cultural experience can be globalized.

One interesting feature of the programme was thefoodtastingsessiontagged“TrustYourSenses.’’

Starring the comedian Owen Gee and veteran broadcaster,SunnyIrabor,bantersflowedfreelylike the fresh palm wine in the gourds passed around thetables.Inhiskeynoteaddress,theco-executive producerofWANDAA,EngineerDamieteHorsfall revealedthatHoustonisfastbecomingaNigerian annex whatwith the increasing population and cultural presence of Nigerians. On this premise, it isprojectedthatWANDAAwillgrowintoamajor carnival to promote Nigerian culture worldwide.

Speaking on the experience at the wrap of the show, Ms. Sanni-Shittu explained the rationale

behind this immersive cultural experience.

“WANDAAisbasicallycelebratingourdiversity, culture, people and delicacies,’’ she said. “Our desireistotakeyouthroughdifferentjourneysevery three months. In June, we did Rivers state. Now, it’s Edo State. As you have heard, in December, we are doing Ile-Ife just to promote the beauty in our diverse culture. This is a banquet-styled event. Besides, giving you useful information is empowering. If you are fully aware of who you are, you walk and talk differently. There is also the concept of people thinking we are different.

Whatiscalled‘Ogbono’elsewhereiscalled‘Ohie’ in Edo state. This is promoting one Nigeria, one Africa and one humanity. Promoting our cultural diversity will help us to become better as citizens, asparentsandaschildren.Wearenotsegregating.’’

NationalTroupe Promotes Unity at Independence with Drama, ‘Echoes OfThe Drum’ Yinka Olatunbosun To celebrate this year’s independence, the National Troupe of Nigeria, NTN staged a multicultural play titled “Echoes of The Drum” at MUSON Centre, Lagos.

Woven on the fabric of brotherhood and unity of purpose, the drama depicted the current situation of Nigeria and the urgent need for all the sections in the country to unite as a nation.

The stage drama ‘ Echoes Of The Drum’ was written by Ola’ Awakan and directed by Mr. MichaelAnyanwu. The story began with the arrival of triplets, Awogbola, Onlude and Ayanlade In Ayan village, the first to happen in the clan of drummers. The three brothers trained by their father ‘Abayan’ became skilled in the traditional beating of drums. After they fought and went their separate ways then at the edge of breaking apart, and sudden attacks by evil powers, they realized the need to work together to overcome their challenges. The echoes of their drums attracted ‘Sango’ the gods of thunder who came for their rescue and intervened in their conflict.

The play was accompanied with energetic dance, songs and heightened with the harmonious drum beats that evoked the power of unity, healing and brotherhood.

In his address, the Minister of information and culture, Lai Muhammed stated that the country is in dire need of peace and unity, Muhammad who was represented by Mrs. Oluwabunmi Amao, Director General, Centre for Black and African Arts and Civilisation (CBAAC) noted that drumming, dancing and storytelling are integral components of African culture which has been engaged overtime for entertainment and as vital means of communication.

He said, “I am particularly pleased with the fact that we are witnessing the synergy and the use of two traditional mediums of communication which is drumming and storytelling to convey the message of peace, brotherliness and togetherness to the Nigerian people.

A scene from the play “This is important as we look forward to celebrating the 62nd independence celebration of our dear nation. I find this quite critical at this time of our national life. We must deploy these mediums inherent in our culture as veritable tools to foster social interaction, peace, unity and progress among the people of Nigeria.”

Alhaji Ahmed Mohammed Artistic Director NTN in his note also mentioned the importance of staging the drama and why its messages of brotherliness, unity and co-habitation resonated with the present need of the nation.

He called on Nigerians to be committed to making the nation work by making conscious efforts to be united in purpose and indivisible in spirit.

Mr. Michael Anyanwu, The Director of ‘Echoes Of The Drum’ and a member of the management team of the National Troupe of Nigeria, told newsmen that he was attracted to the play because of

the significance it gave to African drums.

“This is one play that has given significance to African drums, their evocative nature, and the therapy associated with them. Unlike dance, drum is not usually given its right significance.

“It is always difficult to integrate the drums because of their specialty and different types. But what I have done, I was able to bring in different instruments from different backgrounds within a central performance space. That is, unifying the drums,” he stated.

Anyanwu noted that getting composite artists who are skilled in drumming and acting was a big challenge. “Another challenge was the stage, you must work within the picture of the stage and be able to put all the elements in the work. I had to get used to my concept, which is the total African concept. I integrated elements of music, drumming, dancing and acting into the drama.”

An adventurous Christmas awaits Lagosians and visitors as Balmoral Group and Octoplus Marketing Group in partnership with CEC unveils Wonderland Lagos 2022. Set to be the most extensive and exciting holiday experience, this multisensory event is set to hit Lagos in December 2022.

Wonderland Lagos, comprising four villages, is a replica of Christmas markets in Europe and other places abroad where fun seekers enjoy a family-friendly holiday experience. The bespoke villages include Qatar Live in Wonderland Lagos, Christmas in Wonderland, Wonder X and Wonderland Market all in one venue namely Eko Energy City, Victoria Island, Lagos.

At the unveiling/launch of Wonderland, which took place at Eko Energy City, Lagos, Co-founder Wonderland and CEO Balmoral Group, Ezekiel Adamu explained that Wonderland Lagos is out to be an enchanting experience for guests during the fun-filled festive season. He revealed that the four different villages otherwise known as ‘Four wonders’ would deliver its own unique experience to every cadre of guests as it cuts across the different age, gender, and social group.

“The different villages make a wholesome experience for every individual; from the kids to the teens, young adults and even our mummies and daddies, everyone is definitely catered for in Wonderland Lagos,’’ he said.

Also speaking at the launch event, Vinni, Co-founder Wonderland Lagos, expressed his excitement for the project as he noted that this is about to change the holiday experience in Lagos, Nigeria.

According to Vinni, Wonderland Lagos - the city that never sleeps - would open doors to guests on December 1st and run various activities across all four villages till January 2nd, 2023.

“This is the biggest, never seen holiday experience coming to Lagos with this maiden edition and taking on Africa at large,” he added.

The event which saw the attendance of HNIs and celebrities amongst which is Chimwemwe Chalemera, Country Director, Department for International Trade, British High Commission Lagos who showed her support and that of the commission towards Wonderland Lagos 2022. “The project is a really exciting one, as a Department for International Trade, one of our focus is to increase trade and investment between the UK and Nigeria, and one of the sectors we are looking at is the creative sector and we have really done a lot in that sector,” she said.

In the spirit of giving a unique experience to its guests, Wonderland Lagos would be using its own currency- Flakes.

Each flake, equivalent to the naira value, would be the currency for every activity/payment in Wonderland. Also, in contributing to the hospitality for visitors, particularly tourists and travellers from other states to the city, a tower of 110 fully furnished apartments of different specifications is ready and available.

Wonderland Lagos is brought together

by Balmoral Group, Octoplus Marketing Group, in partnership with Creative Economic Catalysts (CEC), Magic Moments Entertainment and MTV Base and Nickelodeon. With Soundcity, TVC, Arise News, Max FM, Beat FM, Cool FM as official media partners and supported

by Lagos State Government.

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POLSCOPE

áÓÞÒ ÎÎã ÎÓàáÜÓ ÏÎÎã˛ÙÎÓàáÜÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͸΀͸ͽ ͻ͸; ΁ͻͽ;

Lawan, Akpabio, INEC and Senatorial Tickets

S

omebody had said the courts are part of the problem in the growth and development of our democracy.

Until recently, I had believed that the courts had been helpful in determining electoral cases and dishing out justice to those squeezed out of the electoral process by mightier and craftier politicians.

Looking back, I can recall dozens of electoral cases that had been tumbled by the courts, and many politicians are actually in office, courtesy of the courts, not the electorate.

But my belief in the courts has been verily shaken with the recent contra-judgements from the courts over the senatorial tickets for the Senate President, Ahmad Lawan and a former Minister of Niger Delta, Godswill Akpabio.

While the one wanted the senatorial ticket for Yobe north, the other wanted the senatorial ticket for Akwa-Ibom North-west.

The duo had been in government at various levels. While Lawan had been circulating in the National Assembly, first as a member of House of Representatives and later, the Senate, all for 24 years running, Akpabio had literally survived on government almost all his working career, first as Commissioner in his Akwa-Ibom State, then as governor, then he became a senator and in 2019, he lost his bid to return to the senate, after he had dumped his former political party, the PDP, wherein he was a minority leader in the Upper legislative Chamber.

He had attempted to challenge the outcome of the 2019 senatorial election, but suddenly chickened out and was rehabilitated with the ministerial appointment, by President Muhammadu Buhari.

As a minister of the Niger Delta ministry, the most remarkable thing we can remember is the setting up of a forensic audit exercise on the NDDC, which till today, has not yielded any meaningful result, despite the boast of Mr President that every stolen Kobo from the commission will be recovered. Mr President has just about eight months to go.

By April this year, Akpabio and much later, Lawan, each bought the N100 million form to contest the presidential election under the All Progressives Congress (APC).

When on June 8, the APC organized its

Akpabio

presidential primary, Akpabio was the first to step down in honour of his “elder brother”, Bola Tinubu.

Ahmad Lawan, who had been earlier rumoured by the national party chairman, Adamu Abduallahi, as Buhari’s preferred aspirant, went ahead to contest the primaries and polled 152 votes.

Weeks later, we got suffused with a new lexicon called “Place holder”.

Amongst several others, a certain Bashir Machina was said to have been elected as the senatorial candidate of the APC in Yobe north, merely as a place holder candidate. In other words, Machina is expected to step down when the “real owner” of the ticket shows up. As it happened, Machina was not on the same page with Lawan, on the plan. So when Lawan, having lost the presidential primary came back to claim the ticket, Machina refused to step down saying he was well and fit to contest the election, arguing that it was he and not Lawan

that was voted for by the delegates. That matter had gone back and forth to court, with the court recently ruling that Machina indeed is the validly elected owner of the senatorial ticket. Swarmed by the facts and reality of the case, Lawan recently accepted the verdict of the Damaturu High court and said he would not appeal the judgement. But surprisingly, in what looks like wanting to be more Catholic than the Pope, the Yobe chapter of the APC has vowed to appeal the court judgement. As it stands, Bashir Machina, remains the senatorial candidate of the APC in Yobe North senatorial district.

But in a foggy twist of events, the Akpabio case in Akwa-Ibom which has the same background and format with that of Lawan has had a different outcome.

By the time Akpabio was done with his presidential pursuit, the senatorial contest had been conducted in his Akwa-Ibom North West senatorial district. A former DIG, Mr Mr Udom Ekpoudom (retd) had emerged as the candidate for the APC. But Akpabio, determined to remain politically relevant, began to manipulate the process and claimed to have organized another primary that was neither supervised by INEC nor witnessed by relevant authorities.

Akpabio declared to have been the one that emerged as the candidate from that unrecognised parallel primary, just as the former Resident Electoral Commissioner in the State, Mr Mike Igini, who has now retired, protested endlessly that the emergence of Akpabio was unknown to the electoral process and organ.

But in a clear case of desperation, and in breach of Section 33 of the New Electoral Act, Akpabio headed to the courts and recently got a judgement ordering the INEC to recognize him as the candidate for the Akwa-Ibom North west senatorial contest under the platform of the APC. Justice Emeka Nwite of the Federal High Court, Abuja gave the order, arguing that the INEC cannot impose a candidate on the party, stressing that since it was the APC that forwarded the name of Akpabio, the electoral umpire was duty bound to

accept it. Really?

Why did the Judge brush aside the fact that the INEC has a statutory duty to monitor primaries conducted by political parties and that anyone not monitored by the INEC is deemed illegal? Why did the learned judge brush aside the outcome of the primaries conducted earlier and monitored by INEC? And more importantly, why did this learned judge brush aside the provisions of the revised Electoral Act which forbids an aspirant from contesting two different elections within the same election season? Is Justice Nwite not aware that Akpabio contested for the presidency? How could he have bought form for the presidential primary election and also bought form for senatorial election in the same election season/year? What if he won the presidential primaries? Would he have also come to contest the senatorial primaries?

Mr learned Judge, does that fact not count in law? Why did the Judge choose to believe Akpabio and his “special centre” primary and disbelieve INEC? It is judicial fogs like this that thicken the label that politics is a dirty game. And many are wondering if democracy has been reduced to a war-chest contest and not popularity contest.

But beside the shenanigans of the courts, something is also wrong with the APC to have knowingly sold two nomination forms to the same aspirant: one for the presidential primaries and another for the senatorial contest. Was it just the unbridled quest for money that the APC sold these two forms to the same person in the same election cycle?

Already, many chieftains of the party in Akwa-Ibom State, led by Chief Don Etiebet, former minister of Petroleum Resources, who saw through the judicial shenanigans orchestrated by Akpabio, has called on him to step down and allow Mr Ekpoudom, the rightful candidate, to contest the election, since he, Akpabio, had been a senator before. They have threatened to vote another party, if Akpabio refuses to allow justice prevail.

The INEC, on its part, almost like a zombie, has accepted the judicial order and has published the name of Akpabio as the candidate of the party, albeit grudgingly.

Omehia: Shame on Gov Wike, Rivers State Lawmakers

T

he news broke late last week that the Rivers State House of Assembly suddenly realized that it had made a grievous mistake in defying the letter and spirit of the Supreme Court ruling in 2007 which said Sir Celestine Omehia, in the eye of the law, is not known to have ever ruled as a governor in Rivers State.

The state’s lawmakers, in the eight Assembly, apparently on the prodding of the state governor, Nyesom Wike, had upturned the ruling of the Supreme Court and declared that Omehia will be recognized as a former governor in the state.

No doubt, Wike decided to embrace Omehia for two reasons: he wanted to spite his predecessor in office, Rt Hon Rotimi Amaechi with whom he had been (and still) having a prolonged political duel; and two, he was cadging for validation, just from any and everywhere at the time.

Recognising Omehia as a former governor, and restoring his status as such must have won Wike a few more fans at the time.

And the lawmakers were available and ready to lap up that move by the governor.

Omehia, for the record, who had governed the state for five months (between May and October 2007) was removed from office by the Supreme Court of Nigeria, following the suit filed by Amaechi challenging his substitution as the then governorship candidate of the PDP in the state. In removing Omehia, the Supreme court remarked that given the manner in which Omehia was imposed on the party, the law does not recognize that he ever governed the state. The ruling was delivered in unambiguous English Language.

Both Omehia and Gov Wike are lawyers.

There is nothing they couldn’t have clearly understood in the ruling by the Supreme Court justices.

Gov Wike

Omehia was then accorded all the privileges due a former governor, including receiving huge allowances, which have now been put at over N697 million in benefits and pension.

So, why and how did the Rivers State House of Assembly suddenly realise that Omehia was wrongly recognized in June 2015? The lawmakers in shamefully reversing themselves claimed to have found “further and better particulars” (whatever that means) concerning Omehia and thus have come to the resolution of de-recognising him as a former governor in the state.

It is a nebulous claim. What is/ are the content of the “further and better particulars”? What is the new information they now have about/on Omehia which they didn’t have in June

2015 when they knowingly overruled the Supreme Court in recognizing him as a former governor? What impudence!

Were they now taught better and clearer English Language lessons?

It is instructive that not only is it that many of the lawmakers are themselves lawyers, about ninety per cent of them in the present ninth assembly were also there in the anything-goes eight assembly of the Rivers State.

It is equally instructive that in less than 24 hours, the resolution of the state Assembly was speedily ratified and signed into law by Gov Wike. Normal Assembly resolutions seldom enjoy such speed of action. Video footages showed Gov Wike gleefully removing Omehia’s picture from the gallery of past governors, in his office.

A certain Chidi Llyod, also a lawyer, but a latter-day lackey of Gov Wike, in rationalizing the reversal of the recognition of Omehia, on a national television, likened the reversal to the remission and pardon granted King Hezekiah in the Bible. He forgot to add that God merely had mercy on King Hezekiah, the latter having pleaded and reminded God of some of his good deeds, unlike the case in point in the putrescent State Assembly.

The state’s lawmakers have proved to lack their own initiatives, convictions and understanding, and have submitted themselves to be helpless pawns being pushed about on a chess board by Gov Wike. How can such a potato assembly perform the important role of holding the governor accountable or even perform check-and-balance functions?

What Gov Wike and the lawmakers refused to openly declare is that Omehia was being de-recognised because he

(Omehia) had aligned with the PDP presidential candidate, Atiku Abubakar, to the chagrin and hurt of Wike, who had sworn not to have anything to do with the presidential campaign of the PDP in the 2023 election. Thus de-recognising him is just one way of punishing him for perceived acts of “disloyalty“ to the governor, his benefactor. Omehia was appointed into the presidential campaign council of the PDP. Omehia is not the only victim of the brute punch of Gov Wike. Earlier, hotels, Lounges, filing stations and other business outfits of PDP members (or even their relations) in Rivers State who dared to associate with Atiku Abubakar, had been shut down for some inexplicable reason. If you doubt me, ask the likes of Senator Lee Maeba. No doubt, Gov Wike, regardless of his great works in infrastructure development in the state, is a hard-brew totalitarian governor. You either ship-in or get crushed.

Perhaps, the most ridiculous humiliation of the lawmakers was in the other leg of their resolution: that all the monies so paid to Omehia (over N697 million) be refunded to the state’s coffers within seven days. Really?

It’s over seven days now. What will they do Omehia? Pray, why should Omehia be made to pay for the silly mistake of the lawmakers? Did he apply to be recognized by them? They willfully invited him and re-instated him and started paying him all the said monies, all at their own behest.

So, why should he now be punished for the mistake of the lawmakers?

But Gov Wike is determined to keep playing the Game theory of political survival. Were it not so, a governor with about seven months to leave office, would not be appointing, in one fell swoop, 28,359 aides some of whom are advisers, liaison officers etc., all to the endorsement of the zombie House of Assembly.

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T H I S D AY ˾ FRIDAY, OCTOBER 14, 2022 2022

BUSINESS/MONEYGUIDE

Analysts: SSA Telecommunications Sector to Maintain Growth Trajectory Kayode Tokede

Analysts at Vetiva Research have predicted that Nigeria, and other Sub-Saharan Africa (SSA) countries’ telecommunications sector will maintain a growth trajectory despite a relatively low internet coverage rate.

The firm in its maiden SSA Telecommunications report titled, “Powering the digital economy,” asserted that there is existing huge opportunities in the telecommunications space in SSA, especially in the area of internet services.

The firm in the report said SSA is not left out of the digital shift currently shaping the world and with this, the region has seen burgeoning demand for data

services.

The Telecommunications Analyst at Vetiva, Victoria Ejugwu said, “the industry still holds huge opportunity for growth given relatively low internet coverage rate.”

She highlighted that SSA was growing at a faster rate than the rest of the world, both in economic terms and in population rate; thus, the region’s young and growing population that can be characterized as digital natives, possesses a huge market for telcos in terms of demand for connectivity.

Also, increasing network coverage will further help to unlock revenue for telecom operators.

She further highlighted that telcos were making diversification efforts into the mobile money space, and

this should further cement growth prospects. She noted that the region possesses one of the largest unbanked populations, and that telcos were positioned to close the financial inclusion gap and drive the region to compete with the global market.

She said, “Telcos’ reach to customers cannot be overemphasized and there is a overarching role for them to play for the region to achieve success in financial inclusion”.

She, however, highlighted that downside risk to growth remains weak macroeconomic factors.

According to Victoria, “the weak macro environment has a dwindling effect on purchasing power, and that might ultimately dampen demand for telco services”.

Religious,Non-Governmental Organisations Urged to Promote Entrepreneurship The founder of YouthUp Global, Dr. Faith Nwaobia, has urged religious and non-governmental organizations in Nigeria to launch a campaign to encourage young entrepreneurship if the country’s rising rates of poverty are to be reduced and eventually eliminated.

Nwaobia stated at a symposium that it is time to go beyond rhetorical efforts to encourage youth entrepreneurship and take practical steps to ensure that young people accept it as a viable source of income. He contends that the lack of entrepreneurial

thinking among Nigeria’s youth is detrimental to the country’s economic development.

The religious and nongovernmental sectors, in Nwaobia’s opinion, are the most in touch with the populace and are crucial in establishing a way of life for them. According to him, these institutions ought to launch a campaign to promote entrepreneurship as a means of leading a fulfilling life while considering the many advantages of the unorganized sector. He asserted that the unorganized sector has the potential to significantly

alter our country’s fate and that YouthUp will continue to support youth entrepreneurship.

Platforms like Clickafix, according to Nwaobia, are revolutionizing entrepreneurship in Nigeria by giving artisans chances to expand their businesses. He claimed that because Clickafix enables experienced and reliable artisans to connect with clients they may not have personally met and allows them to provide their services and be paid in real time, the concern of being unable to do business is eliminated.

GCR Affirms Lekki Gardens Estate’s National Scale Issuer Kayode Tokede Global Credit Ratings Limited (GCR) has affirmed the national scale long-term and short-term issuer ratings of BBB+(NG) and A2(NG), respectively, for the foremost real estate company, Lekki Gardens Estate Limited.

GCR also upheld the national scale long-term issue rating of A(NG)(EL) accorded to Lekki Gardens Estate Limited’s N3.5billion Senior Secured Fixed Rate Bond Issue.

The rating agency described the outlook on the ratings as stable.

GCR stated that the rating affirmation and stable outlook

reflect the company’s strong competitive position, which will continue to underpin sustainable earnings and cash flow, while maintaining a modest funding profile.

This would help mitigate the increased risks within the Nigerian operating environment.

It was further noted that LGE remained resilient despite the prevailing economic conditions with revenue growth in 2021, underpinned by rising off-take and sale volumes, registering EBITDA margins at over 15per cent in H1 2022 well above peers.

According to GCR, the rating of the bonds follows the receipt

of final and executed transaction documents, which is derived through an assessment of the stressed estimated recovery rate expected from the market values of the mortgaged properties.

Utilizing these inputs, GCR’s estimated recovery calculation shows that the secured bondholders can expect full recovery.

Speaking on the relevance of the ratings, the CEO, Dr. Richard Nyong in a statement revealed that the investment grade ratings bear testimony to the company’s strong financial position as well as its capacity to meet its financial obligations to all stakeholders.

WIA Set to Mitigate Failure of African Women Led Businesses Esther Oluku The Women in Africa (WIA) Initiative through its WIA 54 Programme 2022 is poised to mitigate failure of African women led businesses, the President, WIA Initiative, Ms. Hafsat Abiola, has said.

Speaking with journalists at a get together of selected Nigerian applicants in Lagos recently, Abiola stated that among the reasons why African women led businesses fail is the lack of support they experience while growing their

businesses as well as unavailability of access to business mentorship and funding to enable them scale in spite of their ingeniousness.

Through a combination of business trainings, mentorship and funding from leading global partners, participants would be equipped to lead and sustain global business presence and exposure for a more resilient enterprise thereby growing the chain of African women led businesses across the world.

Lamenting the rate at which

African women led businesses failed, she said: “African women lead all the world’s women in terms of the rate at which they set up a business but we also lead the world’s women at the rate at which our businesses fail and I think the gap between a woman being bold and courageous enough to start up a business and their business failure is really a reflection of the lack of support and the challenges in the prevailing environment and we need to do something to address those issues. WIA is here for that.

ROYAL Electronics Celebrates 2022 Royal Week with Buy ROYAL Electronics, a global brand and manufacturer of consumer electronics and home appliances, is celebrating its Royal week 2022 with lots of promo deals for its loyal and new customers from October 10th to 17th, 2022.

The Royal week 2022 will provide our customers and the general public the op-

portunity to buy any Royal product and get another 2 Royal products free at all leading electronic stores across the country.

Represented by the Company’s Head of Operations, Raja Rajesh, he said: Royal Week is designed not only to appreciate loyal customers across the country but also to

draw attention to the quality of products by the company made available to Nigerians over the years.

It is also a week of celebration that highlights the importance of customer service and staff who serve and support daily to deliver exceptional service to consumers.

From left: Chief Financial Officer, Sahara Power Group, Mrs. Olubunmi Olukoju; Commissioner for Energy and Mineral Resources, Engr. Olalere Odusote and Managing Director, First City Monument Bank (FCMB), Mrs. Yemisi Edun, during a panel discussion on ‘’Unlocking Opportunities for Clean & Sustainable Energy’’ at the Lagos Economic Summit (Ehingbeti) held in Lagos....recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2022 Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 27 SEPTEMBER 2022

The price of OPEC basket of thirteen crudes stood at $89.50 a barrel on Monday, compared with $92.67 the previous Friday, according to OPEC Secretariat calculations.

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

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MARKET NEWS

Stock Market Down 0.02% on Profit-taking in Geregu, 9 Others Kayode Tokede Trading activities on the stock market of the Nigerian Exchange Limited (NGX) yesterday slipped by 0.02 per cent to close at 47,524.38 basis points over investors’ profit-taking in Geregu Plc, nine other stocks.

Consequently, the market capitalisation lost N5.18billion to close at N25.88trillion as the stock market witnessed negative sentiment trading by investors.

As a result, the NGX All-Share Index in its Month-to-Date loss increased to -3.1 per cent, while Year-to-Date (YTD) return fell to 11.26per cent.

Analysing sectoral performance, the Banking Index appreciated by 0.9per cent and the Insurance index gained 0.2per cent, while the Consumer Goods index was down by 0.7per cent and Oil & Gas depreciated by 0.7per cent as the Industrial Goods index closed flat.

P R I C E S MAIN BOARD

F O R DEALS

The stock market performance was negative as the losses recorded in UAC Nigeria, followed by Geregu Power led to top losers.

UACN depreciated by 9.76per cent to close at N9.25 per share, while Geregu Power was down by 9.02 per cent to close at N110 per share.

Lasaco Assurance was down by 6.67 per cent to close at N0.84 per share as Cornerstone dipped by 5.45 per cent to N0.52 per

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

share. In addition to top five losers was Champion breweries that depreciated by 3.33 per cent to N3.48 per share.

On the gainers chart was Honeywell Flours that gained 9.79 per cent to close at N2.13 per share, while Neimeth appreciated by 9.52 per cent to N1.38 per share.

Fidson rose by 7.88 per cent to close at N9.17 per share, while Chams gained 7.89 per cent to close at N0.28 per share.

Analysis of yesterday’s market

T R A D E D MAIN BOARD

A S

activities showed that trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 42.83per cent. A total of 86.55million units of shares valued at N2.09billionn were exchanged in 3,264 deals.

Guaranty Trust Holding Company Plc (GTCO) gained 0.59per cent led the volume chart with 19.15million units traded while Airtel Africa was the most trade by value in deals worth N923.22million.

Analysts at InvestmentOne

O F

Research said, “The equities market closed southwards today due to the losses recorded across the Oil/Gas and Consumer Goods sectors.

“Going forward, we expect investors’ sentiments to be swayed by the search for real positive returns and developments in the interest rate space.

“We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”

1 3 / 1 0 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

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T H I S D AY • FRIDAY, OCTOBER 14, 2022

NEWS

ENDORSEMENT OF PASTEURISED MILK AND YOGHURT BY NMA...

L-R: Secretary General, Nigerian Medical Association(NMA), Jide Onyekwelu; President, Uche Ojinmah; Chief Operating Officer, Integrated. Daires Ltd, Makers of Farmfresh Drinks, Emmanuel Orekogbe; Chief Commercial Officer, Gbade Adenrele and Business Executive, Ifeoluwa Akindele, during the Endorsement of Pasteurised Milk and Yoghurt by NMA in Abuja …yesterday KINGSLEY ADEBOYE

Masari: Nigerian Census Highly and Wrongly Politicised, Bedeviled with Politics of Numbers

Francis Sardauna in Katsina

Governor Aminu Bello Masari of Katsina State yesterday said Nigeria’s census was highly politicised and bedeviled with politics of numbers and allocation of resources orchestrated by ethnicity, regional and religious

differences.

He explained that even the previous censuses conducted by military regimes in the country were not devoid of politics of tribal dimension, regional, zonal and religious, which he said, defeated the core purpose of the census.

Masari, who spoke at a

Edo Sets N38 Billion IGR Target for 2022 Hosts maiden tech conference, partners GIZ, Google, Glo, others The Edo State Government has expressed optimism of boosting its internally generated revenue (IGR), stating that it plans to raise an average of N38 billion before the end of 2022.

The Chairman of Edo State Internal Revenue Services (EIRS), John Inegbedion, said with ongoing land administration reforms by the government, the state could boost its IGR and drive sustained growth and development.

Inegbedion, in a statement after the weekly Executive Council (EXCO) meeting chaired by Governor Godwin Obaseki, at Benin City, said the EXCO reviewed the state’s revenue performance in the first nine months of 2022.

He said, “We are pushing the number and as of today we are at N26 billion. However, for the last quarter, we are expected to do another N12 billion to close with N38 billion for the year.

“The state is focusing on N6 billion monthly IGR to keep the state afloat and most of the revenues will be coming from land because land is our oil in Edo State.

“The revenue transaction will be coming from land-related matters and we will be putting in place all the necessary framework and laws to ensure we maximise all available tax collectible in our land administration.”

On her part, the Commissioner for Physical Planning, Housing, Urban and Regional Development, Isoken Omo said the state was exploring opportunities to drive the state’s revenue.

Omo noted: “We will look at a unified zoning system across the state, which will be location-based and will help in monitoring all land transactions. We must ensure that all our land transactions are duly registered with relevant land agencies.

“We will not allow land

transactions to go outside the knowledge of the government and monitoring strategies will be put in place and it will not allow development without government approval. It will allow what you are building to match with what we are developing in our master plan.”

She added, “We have taken over a portion for our new town development which is a planned town to take away the pressure from the city. We have taken possession of part A of this town, B, C and E are within this new town development as we advise those in these portions to stop development and clear with the Ministry before they continue development.”

Meanwhile, the Edo State government through the state’s skills development agency, Edojobs, is set to host the maiden Edo Innovates Tech Conference (#EITC2022), with the theme, “Innovation, Solutions and Talent; Driving the Economies of the Future.”

The conference is being organised in partnership with the German Government and implemented

by Deutsche Gesellschaft für Internationale Zusammenarbeit (also known as GIZ), Google Developers Group, Globacom Limited and Songhai Labs.

The conference would be held at the Victor Uwaifo Creative Hub and Sound Stage in Benin City, Edo State, from November 29th to December 3, 2022.

According to the organisers, registration to attend the #EITC2022 is currently ongoing on the official website.

Obaseki is the host of the fiveday event, which would feature panel discussions with industry experts; breakout training sessions; hackathons; start-up exhibition; networking; virtual tech job fair and other exciting activities.

stakeholders' summit on the 2023 Population and Housing Census in Katsina, added that the entire planning system of the country has been negatively affected up to the point that the nation does not know its accurate growth rate.

He noted that the census, which was meant to help in terms of actual planning purposes, has been reduced to politics of numbers and politics of accessing resources, stressing that the commission should address the quality of numbers, not politics of numbers.

Masari said: "Census has been highly and wrongly politicised in this country. For those of us who are 70 years and above, the politics of the census that I can

remember I witnessed was in 1963, when I was in primary seven when we were drafted to go and conduct a census after the first one was cancelled.

"That has been going on in subsequent censuses even the ones conducted by the military were not devoid of politics of tribal dimension, regional, zonal and religious. That made it completely misunderstand the core purpose of the census.

"You have taken what is not yours, he has taken what is not his and the whole convergence at the federal within the resources you have distorted the distribution of the resources so that we can be beneficiaries that is why we have been living on falsehood."

According to the governor, "The tragedy of what we have done in reducing the issues of census could rarely fall on us in terms of resources allocation and political offices have eroded the main objective of knowing how many we are.

"We don't even have an accurate growth rate. All our censuses are being bedeviled by politics of numbers not quality of numbers. We hope this time, with technology we will be able to achieve near perfection in terms of knowing how many we are in this country. The commission should address the quality of numbers, not politics of numbers."

Earlier, the Federal Commissioner, National

Population Commission, Katsina State, Engr. Bala Almu Banye, said the commission was committed towards digitalising census in the country to meet the international standards.

He said the scheduled 2023 national population and housing census was designed to realise the dream of providing the needed demographic data that would facilitate and place Nigeria on the pedestal of sustainable development.

Banye explained that the summit would broaden state level support base for the successful conduct of the 2023 census as well as create public awareness including its imperatives, methodology and timelines.

Report: Despite Revenue Growth, States’ Fiscal Performance Still Unsatisfactory Earned N5.12trn in 2021 James Emejo in Abuja The fiscal performance of the 36 states of the federation failed to improve to an appreciable level despite a relative boost in revenue earnings, according to BudgIT, a non-profit promoting transparency and accountability in budget and public resources.

The organisation in its 2022 State of States Report which was launched yesterday in Abuja, stated that only 25 per cent of states have comparatively limited dependence on federally distributed revenue for their operations and thus have greater viability if they were to theoretically exist as an independent entity.

These include Lagos, Rivers, Kaduna, Ebonyi and Jigawa.

However, their cumulative revenues grew by 9.19 per cent to N5.12 trillion in 2021 from the N4.69 trillion earned in 2020, while there was a 33.66 per cent year-on-year growth in cumulative Internally Generated Revenue (IGR) of the 36 states, from N1.2 trillion to N1.61 trillion, representing 0.98 per cent of GDP. According to the report, 50 per cent of the total revenue of 33 states was federal transfers,

adding that 13 states relied on federal transfers for at least 70 per cent of their total revenues.

BudgIT also stated that cumulative expenditure of all the states increased by 27 per cent to N6.64 trillion in 2021 compared to N5.23 trillion in 2020.

It said the cumulative personnel cost of the 36 states grew by 5.38 per cent to N1.54 trillion from N1.46 trillion, despite the discovery and elimination of at least 15,397 ghost workers in 13 states across the federation.

The report stated that 11 states increased their overhead cost from the previous year by more than 40 per cent, with Akwa Ibom having the highest growth of 424.60 per cent.

In addition, it stated cumulative capital Expenditure (CAPEX) by all the states grew by 52.52 per cent to N2.70 trillion in 2021 compared to from N1.77 trillion in the previous year.

The report noted that while Lagos State, with capital importation of $31.78 billion between 2019 and 2021, received 99.19 per cent of capital importation into the economy, 11 states received no capital importation within the period.

The report also stressed that

35 states, excluding Taraba, have captured the biometric and BVN data of at least 70 per cent of the civil servants and pensioners on their payroll, and linked the captured data to their payroll.

It added that at least 20 states have enacted Audit laws that grant operational and financial autonomy to the Offices of Auditors-General of the State and Local Government, while only a few states have been able to establish and operationalise a Treasury Single Account (TSA) to ensure that it covers at least 70 per cent of all its finances.

However, Benue, Taraba, Adamawa, Yobe, and Bayelsa ranked lower and needed to work harder on growing their Internally Generated Revenue (IGR), considering the size of their operating expenses, or work on pruning their operating expenses, the report added.

It further showed that 20 per cent of states had been able to significantly grow their IGR year-on-year and are progressively reducing their over-reliance on federal transfers while others had either a negative or poor growth in their domestic revenue mobilisation and thus remain heavily dependent on federally distributed revenue

to implement their budgets.

Also, the report said 30 per cent of the sub-national governments have comparatively more public revenue left to implement the capital expenditure components of their budgets after fulfilling repayment obligations to lenders and their operating expenses.

Furthermore, 15 per cent of states possess more comparative fiscal bandwidth to borrow more due to their comparatively sustainable debt profiles which is determined by their debt-torevenue ratio, debt-to-GDP ratio, debt service-to-revenue ratio, and personnel cost to revenue ratio.

Similarly, only 10 per cent of the states give comparatively higher priority to investing in capital expenditure compared to their operating expenses, the report added.

Speaking at the ceremony, Country Director, BudgIT Nigeria, Mr. Gabriel Okeowo, said the report should hopefully “help us to further nudge the sub-national government to sit up, harness the natural resources in their domain, block loopholes for fraud and corruption and take advantage of several programmes that are designed to help the states boost the sub-national economy.”

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NEWS

SWORN IN...

L-R: Chief Justice of Nigeria, CJN, Justice Olukayode Ariwoola; President Muhammadu Buhari and Vice President Yemi Osinbajo, after the swearing in of the CJN during the Federal Executive Council Meeting at Abuja...recently

Jonathan Endorses Atiku/Okowa Presidential Ticket, Says Delta Governor is Incoming Vice President Emmanuel Addeh in Abuja Former President Goodluck Jonathan yesterday formally endorsed the candidates of the Peoples Democratic Party (PDP), ex-Vice President Atiku Abubakar and his running mate, Senator Ifeanyi Okowa for next year’s presidential elections.

Speaking when the Delta State

Governor, Okowa visited him, Jonathan described the PDP’s politician and medical doctor as Nigeria’s ‘incoming vice president'.

Pulling Okowa from his seat, the former president who was seen holding a plate of kola nuts and praying for his guests, asked God to grant his visitor “acceptability”.

“We pray that this kola nut being presented to all of us

Diri Empowers Another 850 Trainees Bayelsa State Governor, Senator Douye Diri, has presented entrepreneurship tools to another set of 850 skills acquisition trainees.

The Bayelsa governor presented the starter packs to the second batch of the Douye Diri Skills Acquisition and Empowerment Programme yesterday, at the DSP Alamieyeseigha Banquet Hall in Yenagoa.

No fewer than 1,664 beneficiaries have so far been trained under the scheme in the last one year.

Addressing the trainees during the graduation ceremony, Diri charged them to utilise the training to empower themselves economically and become employers of labour.

His Chief Press Secretary, Mr. Daniel Alabrah, in a statement, quoted the governor as describing the participants as torch bearers of his Prosperity Administration and directed the Ministry of Trade, Industry and Investment to engage additional 800 trainees for the scheme.

Diri, who said the training would be continuous, urged operators of the programme to monitor the progress of the beneficiaries and make periodic reports to his office.

His words: "This graduation ceremony has proven that Bayelsans are industrious, committed and brilliant people.

You have been taught various trades. Rather than go to seek for handouts, you are now independent and can employ others and add value to Bayelsa.

"While we build the roads and other projects, we will not forget to build the capacity of our youths.

You are the torch bearers of the Prosperity Administration."

The governor commended

the participants for comporting themselves during the training, noting that his administration had opened the floodgates of opportunities for them to excel in various trades.

He said with such skills’ acquisition schemes in place, Bayelsa was moving away from consumption to a productive economy.

"Our problem is that we are a consuming nation. But we are moving away from consuming to a producing state and we are happy with you.

“Let us not be a state that imports everything but we should also export our products to other states. Be diligent about your work and your work will speak for you,” he added.

The governor stated that the programme should not be politicised and that selection of beneficiaries should not be based on party affiliation as every youth in the state was first a Bayelsan before their party preferences.

In his speech, the Commissioner for Trade, Industry and Investment, Federal Otokito, said the beneficiaries were trained in nine skill areas including fashion designing, shoe-making, solar energy installation and repairs, catering and paint making.

Otokito thanked the governor for putting in place empowerment programmes to build the capacity of Bayelsans in order to grow the local economy.

Also, a director in the Centre for Women Development representing Southern Ijaw Constituency 4, Mrs. Charity Godwin, said she initiated and operated the skills acquisition centre before the governor took over the scheme.

will give us more energy, more acceptability and more success in all our endeavours. Especially for those who want to represent us from next year,” he stated.

Turning to Okowa, he added: “ (This is) for our incoming vice president, who has spent his two terms as governor and needs to move (up). “ Also present during the event were Governor Bala Mohammed of Bauchi State, former Governor Boni Haruna, ex-Governor of Cross River State, Senator Liyel Imoke, Senator Abiodun Olujimi,

House of Representatives member , Ndudi Elumelu, among others.

Before Jonathan spoke, Okowa intimated him that he was in the former president’s house to seek his guidance and prayers, stressing that it was impossible to embark on such gigantic mission without recourse to the former Nigerian leader.

Acknowledging that Jonathan had become an elder statesman and was playing the role as expected, Okowa said it was important to see the former Nigerian leader before the

campaigns intensify.

“We are here for the fact it is difficult for the party to truly go on, even as we flag off our campaign, without formally coming to request that though we are very conversant with the fact that you are playing an elder statesman role , not just within our nation but outside the country and indeed Africa, there is a need for us to come forth to plead that you need to give us guidance.

“You will also offer us prayers and find a way to add your voice both privately and even publicly

in many situations that we call on you to speak on behalf of this nation and on behalf of the PDP,” he stated.

Atiku and Okowa, who jointly hold the PDP presidential and vice presidential ticket will be up against Bola Tinubu and Kashim Shettima of the All Progressives Congress (APC), Peter Obi and Yusuf Datti Baba-Ahmed of the Labour Party (LP) as well as former Governor Rabiu Kwankwaso and Isaac Idahosa of the New Nigeria Peoples Party (NNPP).

Northern Group Congratulates Obaigbena Over National Honour John Shiklam in Kaduna The Unified Northern Nigeria Youths Forum (UNNYF), has congratulated the Chairman, THISDAY/ARISE Media Group, Prince Nduka Obaigbena over the conferment of a National Honour - Commander of the Order of the Niger (CON) on him by President Muhammadu Buhari.

Obaigbena was among over 400 prominent Nigerians who received the award in Abuja on Tuesday.

In a statement yesterday in Kaduna, the group said the award was well deserved, describing Obaigbena as a patriot that is committed to the development of Nigeria.

The statement signed by the

spokesman of the group, Aliyu Sani, said Obaigbena's selfless service to the nation and his fight against injustice, stands him out as a true patriot and a proud ambassador of Nigeria.

The group said, "We join the rest of the world in congratulating Prince Nduka Obaigbena, the Duke of Owa Kingdom, Delta State and Chairman of THISDAY/ARISE Media Group for the national honour - Commander of the Order of the Niger (CON), conferred on him by President Muhammadu Buhari.

"It is a well-deserved honour considering Obaigbena's commitment and contributions to the development of the Nigerian nation.

"We convey the appreciation of the Unified Northern Nigeria Youths Forum to President Muhammadu Buhari for appreciating Prince Obaigbena's contributions by honouring him with the award.

"There is no doubt the fact that Prince Obaigbena is an icon in the media industry, his creative innovations have continued to define the industry, making THISDAY newspapers and ARISE TV, the leading media outfits in Nigeria."

The group described Obaigbena as, "a living legend, who has successfully bring new innovations in the media, setting new records and re-defining media practice in Nigeria and has earned respect."

The statement added that

Obaigbena, "deserves the honour because of his commitment to the development of Nigeria, his selfless service and fight against injustice.

"We believe, the world is a safer and better place to inhabit because of citizens like Prince Obaigbena.

"We have faith in you, it is our expectations that you will continue to work tirelessly for the progress of media profession and Nigeria at large, because the dream of yesterday, is the hope of today and the reality of tomorrow, and that for every step reached, becomes a floor upon which one walks and now can see a new step.

"The Unified Northern Nigeria Youths Forum are elated and very proud of this national honour conferred on you."

Makinde Receive Thousands of Defectors from Opposition Parties Kemi Olaitan in Ibadan Oyo State Governor, ‘Seyi Makinde and the state chapter of the Peoples Democratic Party (PDP), yesterday, received thousands of defectors from major opposition parties, including the All Progressives Congress (APC), African Democratic Congress (ADC), Zenith Labour Party, (ZLP), Alliance for Democracy (AD) and other political structures in the state.

However, Makinde, while receiving the defectors at the Multipurpose Court of the Lekan Salami Sports Complex,

Adamasingba, Ibadan, assured them all of equal rights and privileges in the party.

A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, quoted Makinde as saying the state would witness what he called Omi Tuntun 2.0 after his re-election in 2023, symbolising accelerated development and greater prosperity for residents of the state.

He said all the defectors would receive equal benefit accruals from the PDP, urging all members of the party to work together to bring about victory for the PDP

in all elections in 2023.

In his welcome address, the state chairman of the PDP, Mr. Dayo Ogungbenro, appreciated the defectors for choosing the PDP, stating that the party “believes in equity.”

He also expressed the confidence that the defectors would not be marginalised in the PDP family.

In their various remarks, leaders of the defecting politicians, lauded Makinde for providing good governance for Oyo State, even as they pledged allegiance to the PDP. The leaders included a

former Speaker of the Oyo State House of Assembly, who also represented Oyo Central in the Senate, Senator Monsurat Sunmonu, from the ADC; Pastor Akin Alamu, who led the AD contingent; a former governorship aspirant on the platform of the APC, Mogaji Joseph Tegbe; former Chairman State Pilgrims Welfare Board (Muslim Wing), under the last administration, Sheik Taofeek Akewugbagold; and the leader of the Liberation Alliance Movement and former Commissioner under the defunct ACN administration, Pastor Taiwo Otegbeye.

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PUBLIC COMPLAINTS COMMISSION'S VISIT TO NCC...

L-R: Assistant Director, Nigerian Communications Commission (NCC), Mr. Shafi'i Ndanusa; Head Human Capital, Ms. Hafsat Lawal; Director Human Capital and Administration, Mr. Usman Malah; Secretary, Public Complaints Commission (PCC), Mr. Philip I. Enyali; National Coordinator, National Anti-Corruption Marathon, PCC, Mr. Jacob Onu, and Assistant Director, NCC, Miss Ifeoma Ifezulike, during a courtesy visit by PCC to the Commission’s Headquarters in Abuja...yesterday

LP Endorses PCC List, Says Inclusion of Union Leaders a Mistake Emameh Gabriel in Abuja The leadership of Labour Party (LP), yesterday, endorsed the list of its Presidential Campaign Council (PCC) released on Wednesday as the authentic list to prosecute its 2023 presidential election campaigns.

The party explained that the inclusion of members of the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) as members of the campaign council was an oversight.

This came after the National Publicity Secretary of the party, Abayomi Arabambi, kicked against the composition of the PCC yesterday, declaring it null and void. Arabambi alleged that the list did not reflect the true position of the party and its manifesto.

In another development, the party and its presidential candidate, Peter Obi, were dragged to court by a factional group of the party, which demanded compensation of N500 million.

Labour Party's position was contained in a communiqué read at a press conference in Abuja by its National Chairman, Julius Abure.

This followed an expanded NWC

meeting to review its political activities in recent time and resolve salient issues raised by some of aggrieved members.

Abure said it was on the strength of the above "that the Presidential Campaign Council has been dully announced with representation across all states, tribes and faith.

Labour Party hereby announces the endorsement of the Campaign Council.”

He acknowledged some omissions and misplacement of some names in the "Campaign Council which will be corrected and a supplementary list be released before the inauguration of the council.

The party also corrected the inclusion of members of NLC and TUC members in the campaign list.

The communiqué said, "The expanded NWC reaffirms that the National Chairman, Barrister Julius Abure, is a diligent administrator and the effect of his expertise is felt by every members of the party and therefore urge him to continue with the good work of leading the Party to victory come 2023.

"Labour Party is fully ready, and all parameters to prosecute the election in 2023 has been put

TETFund Trains 17,000 Academic Staff on ICT Kuni Tyessi in Abuja The Tertiary Education Trust Fund (TETFund) said it has trained about 17,000 academic staff of various public education institutions on information and communication technology (ICT) in the last two years.

The Executive Secretary of TETFund, Sonny Echono, made this known during the Asset Declaration, Security and Fraud Detection Awareness Workshop / TETFund SERVICOM Week held in Abuja yesterday.

Echono, who expressed delight over the level of impact TETFund had brought to bear in public higher education institutions in the country, said the Fund has also trained 37,000 academic staff and sponsored 98,000 others to attend workshops and conferences.

“Since the signing of the TETFund Act of 2011 into law

by Mr. President, the impact of the Fund has been felt by all our stakeholders as is evident through the magnitude of projects and programs for both infrastructure and human capacity development of all academic staff of the public tertiary institutions.

“It is something we are very proud of. If you go to our campuses across the country in our beneficiary tertiary institutions, the TETFund logo has become so synonymous with many of the physical structures that we have.

“If you notice, even when unions are agitating they never mention

TETFund as part of their problem because we have been able to train 37,000 of them.

“Ninety-eight thousand academic and non-academic staff of our tertiary institutions have been sponsored to attend conferences and workshops all over the globe in addition to the 37, 000 that have acquired masters and PhDs through the intervention of TETFund.”

The TETFund boss, who was conferred Officer of the Order of the Niger (OON) by President Muhammadu Buhari on Tuesday, congratulated the immediate past Chairman of the Fund’s Board of Trustees, Kashim Ibrahim-Imam and former Executive Secretary, Professor Suleiman Bogoro for bagging OFR and OON respectively, saying the awards were well deserved.

On the recent move by TETFund to leverage more on ICT and ensure seamless delivery of its mandate, Echono said the Fund would soon ensure major processes in some areas of interventions are strictly done through online.

“Nearly 17, 000 academic staff, this is outside the figure I gave earlier, in the last two years have been trained on ICT, so that they can deliver and carry out their functions well.

“This year we have approved that all the interventions that have to do online. We don’t want them to send papers to us, we don’t even what face to face contact,” Echono said, adding that such step would likely been extended to library and academic training intervention lines.

in place and as of moment, we are consolidating the momentum that will help us establish a new Nigeria come May 29th 2023. We also further make it clear that Labour Party enjoys a robust relationship with the new Campaign Council, said Abuja.

Earlier, in another press briefing, leaders and allies of the National Consultative Front, NCFront, an umbrella platform of the 3rd Force Movements and members of the Rescue Nigeria Movement, accused the leadership of the party, including Obi, of an attempt to side-line them in the scheme of things.

The group said it was for this

reasons its members had considered it necessary and timely to let the public, the Nigeria people, know the kind of personality and people they are dealing with and to equally exercise their fundamental human right, the right to seek legal redress over gross injustice allegedly done them.

Speaking at a World Press conference also held in Abuja, leader of the Rescue Nigeria Movement, Sheikh Rufai Al-Siddiq, said members of the group were compelled to make public the sad experience their leader, Oluwadare Faduri Joseph, after ceding its presidential ambition to Peter Obi, was left in

the sidelines after exhausting all avenues to be compensated for all his pre-campaign expenses.

"It may interest you to note that His Excellency Oluwadare Fadure Joseph, is one of the first loyal party members to seek the 2023 Presidential nomination from the party. In fact, Labour Party became our baby as we woke up the sleeping party, using his personal resources and that of the members of Res Movement.

"We absolved millions of our committed followers into Labour Party across the country to Kick start a party that had been moribund for a while and we championing the

Compass of the Party as stipulated the Labour Party guidelines.

"Our principal bought the Presidential Form with the sum of N30 million to participate in the party's Presidential Primaries.

Unfortunately, he was restricted from participating in the presidential primary election after purchasing the form with a fabricated kangaroo consensus of Mr Peter Obi, as forced by the party "Is on record that His Excellency, Faduri Oluwadare Joseph, was forced to step down for Peter Obi under duress. With proof that will be released to the public when time comes.

German Agency Trains 140,000 Nigerians on Financial Literacy James Sowole in Abeokuta No fewer than 140,000 Nigerians, have benefitted from financial literacy programme being sponsored by the German International Development Agency (GIZ).

The agency also disclosed that it has enhanced entrepreneurship skills for over 30,000 students and created over 5,000 new jobs to support value chains under its Pro-Poor Growth and Promotion of Employment in Nigeria Programme, known as (SEDIN).

The Head of Programme, GIZ SEDIN, Mr. Markus Wauschkuhn, disclosed this at a media parley on the second edition of the Students’ Entrepreneurship Activities (SEAHub) national competition among secondary schools in Nigeria, scheduled to hold in Federal Capital Territory, (FCT), Abuja.

He added that SEA-Hub activities involved students from both private and public secondary schools in the participating states.

According to Wauschkuhn, the SEA-Hub national competition, was a follow-up to the state competitions,

that were concluded in five states and from which 15 schools were chosen to represent their states at the second competition holding on October 24, 2022 He explained that SEA-Hub state competitions, were held in Plateau, Lagos, Edo, Ogun and Niger States in June 2022.

According to him, students during the state competitions, showcased various innovative products and services that they started with little or no capital, which is one of the key mandates of SEA-Hub. The head of programme, said the 15 participating schools were chosen after they had exhibited and presented their business ideas at their respective state levels.

While stating that the SEA-Hub was already having positive impact on the communities where schools were located, Wauschkuhn said the project was to be the only existing co-curricular activity in majority of the participating schools in most cases.

Wauschkuhn said: "SEA-Hub activities has led to the revival of

co-curricular slots within the schools.

"Aside running mini businesses, SEA-Hub students now implement community projects from their business proceeds as Corporate Social Responsibility (CSR) projects while about 700 teachers have been impacted directly and indirectly with a number of them running their own businesses as a result.”

He noted that the main objective of the SEA-Hub programme was aimed at reducing the unemployment in the country by equipping secondary school students with the right skills which will prepare them for a secured future.

He said, “For young people, it is difficult to find full and productive employment and decent work.

“To harness and turn the growing youth unemployed population in the country into an asset, we need an urgent focus on economic activities that can thrive and yield demographic dividends for the nation.

“SEA-Hub was therefore borne out of the need to improve skills and prepare young people for a secure future.

“By catching them young, the SEA-Hub project is equipping secondary school students with entrepreneurship training in a way that develops their skills to be agile, sustainable and transferable in ever-changing environments and situations.”

Speaking at the media parley, the Senior Special Assistant to the Lagos State Government on Education, Ms. Adeola Salau, said the state was in partnership with GIZ-SEDIN to create student entrepreneurs in the state Salau said student entrepreneurs under the project were regarded as managers of their small businesses within the schools in three local government areas of the state Alimosho, Agege and Ifako-Ijaiye.

According to her, "we created these entrepreneurship clubs in 24 schools, both in junior and senior secondary schools and there were a lot of training programmes for both the teachers and the students.

“The main focus of this programme is to make sure that our students are able to fish for themselves.

NIGERIA HAS NOT APPROACHED US FOR DEBT RESTRUCTURING, SAYS WORLD BANK PRESIDENT While congratulating PTI, he reiterated that the vision of the founding fathers of the school was to address the inadequacies of indigenous personnel required to man the petroleum industry.

According to him, this was because the industry was largely dominated by expatriates who were at the forefront of the exploration and exploitation of Nigeria's crude oil potential.

Mustapha noted that the school has so far graduated over 50,000 students, many of whom were absorbed as employees in the sector and are now playing important roles in the industry.

The SGF stressed that it was a period for stocktaking for the school based in Warri, Delta State, with a view to making projections for the future.

Also, the Minister of State,

Petroleum Resources, Timipre Sylva, who was represented by the Permanent Secretary in the ministry, Gabriel Aduda, said the training school has succeeded in contributing to the country's oil and gas sector, urging it to be proactive in its research and development efforts since the industry is dynamic.

In his remarks, the Group Chief Executive Officer, NNPC, Mele Kyari, urged the PTI to take cognisance of the massive changes taking place in the industry and adjust accordingly.

“The energy industry is changing because companies and consumers are changing their habits and their decisions. Owners of businesses, particularly in the energy sector are transitioning.

“This is not just in the way they conduct business. Even in respect of technological changes, no one

can tell you with certainty what will happen in the next 10 years.

There’s rapid change in the business environment and rapid change in choices,” he explained Also speaking, Principal of PTI, Dr. Henry Adimula said was a testimony to the institute that some of the petroleum refineries were set up, saying that the vision of the school is to become the best in Africa.

According to him, the core function of the institute include training, research and consultancy services to the industry.

Stressing that a lot still needed to be achieved, he said the early innovation of the institute helped in growing the oil and gas sector in the country and appreciated the support of the Petroleum Technology Development Fund (PTDF) for helping reposition the school.

According to him, the technologies churned out by the PTI had become useful by operators, with out-of-country training reducing considerably.

For instance, he explained that institute was largely responsible for the training of the take-off staff for the Warri Refinery and Petrochemical Company (WRPC), Kaduna Refinery and Petrochemical Company (KRPC), and Eleme Petrochemical Company Limited (EPCL).

He described the last 50 years of the life of the institute as glorious years of exceptional delivery of training, innovation and technological development, stressing that from its establishment in 1972, till date, the institute had graduated well over 50,000 technologists, technicians and other technical personnel.

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NEWSXTRA

UK EDUCATED NETWORKING EVENT...

L-R: Director of Student Recruitment for Engineering, University of Nottingham, Dr. Mohamed Elmaghribi; Lagos State Deputy Head of Mission, British Deputy High Commission, Abby Bernards; Founder, Graduate Guidance Group, Emma Tarrant Tayou and Head of Partnerships, Jobberman Nigeria, David Mbelu, during the Nigeria Talent, UK educated networking event held in Lagos…recently

Benue Seeks FG’s Approval for Volunteer Guards to Bear Arms George Okoh in Makurdi The Benue State government has applied to the federal government agency, responsible for approval, to procure automatic weapons, particularly AK47 assault rifles to further strengthen its logistic support base and defence capabilities.

It however, said it was still awaiting approval from the federal government to deal with the matter accordingly.

Governor Samuel Ortom of the state, who disclosed this, hinted at it while delivering his speech at the passing out of 1000 second batch of Benue State Community Volunteer Guards at the IBB Square, Makurdi, state capital.

He also revealed that the state governments was currently working with the federal government towards moving from community policing to state police.

Ortom said, when it eventually becomes a reality, "We will give the current community volunteer guards the pre-emptive rights to join the state police. That is, the first right of first refusal."

He warned members of the volunteer guards against being partisan, adding that curbing insecurity in the country could be achieved with combined efforts of the guards and other security agencies "It is with great sense of commitment to ensuring security of lives and property, as well as

Edo APC Accuses Obaseki of Policy Summersault Adibe Emenyonu in Benin City The All Progressives Congress (APC), Edo State chapter, yesterday, said, it believed that Governor Godwin Obaseki, was being economical with the truth, when in June 2022, he closed down the Nigerian Observer with a promise to reopen it in a month after restructuring.

In a statement, Secretary to State Government (SSG), Osarodion Ogie, had said, “The Edo State Government, in line with the reforms of the state-owned media organisations, has directed the closure of the Nigerian Observer newspaper for a period of one month, for re-organisation and re-launch of the media outfit.

"All existing staff of the Nigerian Observer are hereby redeployed to the Ministry of Communication and Orientation, with immediate effect, where they will receive further directives on their new responsibilities".

However, the APC in a statement by its Assistant Publicity Secretary, Ofure Osehobo, said contrary to the above promises, the PDP government led by Obaseki has since demolished vital sections of the premises of the newspaper at 24 Airport Road, Benin City, installed a 'N5-billion' printing press, redeployed all the workers to MDAs and created a newspaper called ECHO to replace the Nigerian Observer.

According to APC, the Nigerian

Observer was set up in 1968 by the late Dr Samuel Ogbemudia, as administrator of then Midwest region, and as one of the assets Edo inherited in 1991.

The Edo APC noted that the old Nigeria Observer printing press was auctioned while a press proposed to print ECHO, the new name Obaseki has given the Nigerian Observer with some of his cronies as staffers, has failed to print one sheet of paper since it was imported from Germany in 2020, adding that twice, the manufacturers have been guests of the government for millions of naira, to repair it to no avail.

"Yet, Edo State Government, has employed a 14-man staff for the Echo and signed an MOU with some unknown media firm for the purpose of daily printing and circulation of the medium on a Public Private Partnership (PPP) basis.

"As a party, we see the action of the governor in saying one thing and doing the opposite as one which is in tandem with his 2020 manifesto called, Make Edo Grounded Again, MEGA. The goal is ensuring a defined template for underdevelopment in Edo State.

"It is with all the modalities for an unending under development plan, designed to paralyse government tools, guidelines and milestones so that his successors find future development planning an ordeal. We condemn the plot as it is bound to fail," Osehobo said.

peaceful co-existence for all the people living in the confines of Benue State, that the Benue State Government alongside Benue communities decided on the establishment of Community Volunteer Guards (Vigilante) with the Law enacted by the Benue State House of Assembly in July, 2000 and amended in October, 2021".

"You may recall that on 4th August, 2022, we inaugurated the first Batch of 500 trained Community Volunteer Guards to complement the efforts of the conventional Security operatives at combatting increased incidents

of insecurity and breach of peace by incessant attacks on Benue farming Communities.

“In fact, these attacks have displaced millions of our people, most of them taking refuge in Internally Displaced Persons (IDPs) Camps. The ugly trend informed the amendment of the Community Volunteer Guards as (Amendment) Law, 2021, which came into force on 26th day of October, 2021.

“This law is to strengthen and give meaning to the law banning Open Grazing of all forms of domestic animals, enacted by the Benue State Government in

2017 to prevent incessant attacks on our farming communities and to encourage Ranching as the international best practice in animal husbandry.

"In order to enhance effective operation and proper coverage of the State, the Benue State government, has decided to train as additional 1,100 Personnel to the 500 earlier trained and inaugurated on 4th August, 2022.

“I wish to reiterate that the essence of the Benue State Community Volunteer Guards Law as amended is to complement the formal Security Agencies especially, the Nigeria Police, in

crime prevention and securing of lives and property in Benue State" "I believe, all well-meaning Nigerians feel very challenged over the spate of wanton killings and abductions being meted out on Nigerians, especially, on the unprotected rural farmers, travelers and defenseless Students," he stated.

The governor, therefore, added that all Nigerians, have a responsibility to check the evil, the intrusion of those who were set “to decimate, take over and control our resources and destiny as a nation with every deserving force and will.”

TAMBUWAL: PDP CAMPAIGN NOT SUSPENDED, PEOPLE JUST TRYING TO THROW SPANNER IN THE WORKS chairman of PDP, Uche Secondus; serving and past members of the National Assembly; serving and past members of state assemblies.

The communique signed by PDP’s vice-presidential candidate and Governor of Delta State, Dr. Ifeanyi Okowa, read, “The meeting strongly urged the four PDP governors within South-south zone that took part in the meeting to do everything necessary within their powers to persuade their brother governors, especially, Governor Nyesom Wike, to review their position and join hands with the party to rescue, rebuild and reunite the country in the interest of the suffering Nigerians.

“The meeting formally congratulated HE, Atiku Abubakar for his emergence as the party Presidential Candidate and thanked the party leadership for the nomination of one of the great sons of the Zone, Ifeanyi Okowa, Governor of Delta State, as the presidential running mate.

“The meeting underscored the need for unity and urged all members of the party within the South-south zone to make all necessary sacrifices, both individually and collectively, to ensure the victory of the party in all of the elections in 2023, especially, to save the country from the precipice and brinks of total collapse culminating from the clueless, incompetent and ineptitude APC’s administration in the country.

“The meeting reviewed recent events in our party, the PDP, and in the country, especially, the dwindling fortunes of the country in the areas of insecurity, economy, unemployment, poverty, inflation, corruption, currency devaluation.”

The South-south PDP leaders and stakeholders also praised the zone for remaining a stronghold of the party since 1999, even as

they expressed satisfaction with the performance of the zone. They urged the zone to do everything democratically necessary to sustain that status and called on members of the party within the Zone to return to their constituencies to rigorously campaign for the party.

The meeting underscored the need for unity and urged all members of the party within the zone to make all necessary sacrifices both individually and collectively to ensure the victory of the party in all of the elections in 2023.

Winning the 2023 elections, the party said, would save the country from the precipice and brinks of total collapse, culminating from the alleged clueless, incompetent and ineptitude of the APC administration in the country.

They also frowned on the dwindling fortunes of the country in the areas of security, economy, employment, poverty, inflation, corruption and currency devaluation.

Wike: Not ceding PDP Chair to South is Recipe for Crisis Rivers State Governor Nyesom Wike warned that the refusal of the PDP leadership to cede the national chairman position to the south was a recipe for crisis.

Wike stressed that his efforts to achieve amicable resolution of the crisis rocking the PDP had been frustrated by rent seekers.

He declared that nobody could convince him to change his stance that the PDP should yield its national chairman position to southern Nigeria.

Wike spoke when he hosted Cross River State PDP governorship, senatorial, House of Representatives, House of Assembly candidates

and PDP local government party chairmen at his private residence in Rumueprikom, Obio/Akpor, Wednesday night.

At the meeting attended by the party’s South-south National Vice Chairman, Chief Dan Orbih, Wike explained that the seemingly intractable crisis in the party, had lingered because some vested interests, whom he described as “hyenas and rent seekers,” had remained obstinate and averse to justice, fairness and equity in the party.

The Rivers State governor stated, "We have finished presidential primaries, we have a presidential candidate. Is Wike saying, remove presidential candidate? Is Wike saying, remove vice presidential candidate? So, what are you begging me for? All I am saying, and I will continue to say is that you have taken president, give us (national) chairman.

"Nobody wants to speak the truth. If I am saying remove the presidential candidate, if I am saying remove the vice presidential candidate, then, you will say why is he doing this?"

He maintained that he could not be convinced to support the current status quo, where the PDP presidential candidate, national chairman and the Director General of the presidential campaign council were all from the north.

He said, “If the presidential candidate comes from the north, he will resign, which means he has had this in mind. Now, the thing has come to reality, now resign, no. And people are saying go and talk to Wike.

"I’ve accepted the presidential candidate, I have accepted the vice presidential candidate, what’s the problem again? You, fulfil your part.

Let the south have something, that

is all I'm preaching. You cannot have presidential candidate, national chairman, director general of the campaign."

The governor further explained that it was hypocritical for some people in the PDP to criticise Muslim/Muslim ticket, while supporting that a particular region of the country should retain the presidency for another eight years.

He insisted that for the sake of holistic peace, PDP should adhere to the tenets of its constitution, which explicitly recommends that when a presidential candidate emerges from the north, the national chairman should be from the south, noting that the clamour for the chairman of the PDP to be zoned to the south would persist until justice, fairness and equity prevail in the PDP. Wike stated, “This is the period that power game is being played. If you don’t have it now, forget it. If anybody tells you, let (Iyorchia) Ayu resign after election is conducted, then, you are a foolish person. This is the time decision is being made.

This is the time the presidential candidate, national chairman and the leader of campaign will sit, when election is won in February, before the president is sworn in, decisions would have been made.”

Thanking the Cross River PDP delegates for the support given to him during the presidential primary, Wike said the visit would spur him to continue to support the party in the ahead of the 2023 general elections.

Earlier, Cross River PDP governorship candidate, Senator Sandy Onor, who led the delegation, said Wike was a trailblazer for justice, fairness and equity, and stressing that no living person in the contemporary history of the PDP has made more sacrifice for the party than governor Wike.

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NEWS

JOBS CREATION ON THEIR MINDS...

L-R: Assistant Chief Enterprises Development Officer, National Directorate of Employment (NDE), Dr. Chidiebere Igbokwe; Co-coordinating Officer, Youth African Leaders Initiative (United States Consulate), Mr. Austin Emeanua; Permanent Secretary, Office of The Special Adviser on Education, Mr. Adeniran Kasali; Youth African Leaders Initiative Network Coordinator, Mrs. Olufunmi Olaosun, and Senior Personal Assistant on Special Duties, Dr. Goodluck Olakunle, at the workshop and training on job initiatives in Lagos.. .recently ETOP UKUTT

Police Kill Two Bandits, Rescue Kidnapped Victim in Kaduna John Shiklam in Kaduna Two bandits were last Wednesday neutralised while others were said to have escaped with various degree of bullet wounds during a fierce gun battle with the police in Idasso area of Kidandan in Giwa Local Government Area of Kaduna State.

A kidnap victim was also rescued unhurt by the police during the incident, which occurred last Wednesday at

about 8a.m.

The spokesman of the state Police Command, Mohammed Jalige, disclosed this in a statement issued yesterday in Kaduna.

He said at about 8a.m. last Wednesday, the police received information about some heavily armed criminals in large number sighted at Idasso area of Kidandan in Galadimawa District of Giwa LGA who were on a mission to commit atrocity against law-abiding citizens.

Kano Condemns Alleged Attack on Residents by NNPP Members Ibrahim Shuaibu in Kano

Kano State Government has vehemently condemned the ‘reprehensible’ act of violence allegedly unleashed on the state by members of the New Nigeria People’s Party (NNPP) during the inauguration of campaign office of the party’s presidential candidate, Senator Rabi’u Musa Kwankwaso, in Sharada in the metropolis.

A statement issued by the state Commissioner for Information and spokesperson for Gawuna/ Garo Campaign Council, Malam Muhammad Garba, and made available to THISDAY in Kano yesterday, stated that while the government was ensuring a level playing ground for electioneering by all political parties, “it was unfortunate that the NNPP started by attacking unsuspecting

public.”

He said the programme, which was supposed to be a peaceful gathering of the party’s members, however, they stated brandishing dangerous weapons and turning it to a launch pad to attack residents, allegedly leading to deaths as well as snatching of mobile phones.

The commissioner added that the administration of Governor Abdullahi Umar Ganduje is appalled that there seems to be a deliberate attempt by the NNPP to shatter the prevailing peaceful political atmosphere in the state.

Garba revealed that the governor has tasked the state security agencies to be alive to its responsibilities by ensuring that all political rallies are peaceful, as well as deal with any person or group bent on creating chaos.

Chi Farms to Double Chicken Processing Capacity Ugo Aliogo Chi Farms Limited, a member of the TGI Group, has commenced plans to double its chicken processing capacity in response to the growing demand in the market.

The company, in a statement, said the expansion project would involve significant investments in ultra-modern equipment and other capital assets and human capital development through training.

The Managing Director, Chi Farms Limited, Dr .Tunji Olaitan, noted that the capacity-doubling project is in a bid to match supply with the high demand for Chi Farms’ premium chicken products in the market.

“The orders we have been receiving from customers are well beyond our current production

capacity hence the decision to double our entire chicken processing operation,” he said.

On his parts, the Executive Director, Chi Farms Limited, Martin Middernacht, said despite plans to double the processing capacity, the operational goal remains to ensure that products are wholesome and safe for consumption, in line with the best processing standards and regulatory requirements.

He also reaffirmed the company’s commitment to ensuring consistent product availability through effective planning and operations across all levels of the value chain, adding that the ongoing expansion strategy is bolstered by the commitment to bring diverse premium value products to the reach of customers.

Jalige said upon receiving the information, the police command immediately mobilised a crack squad which advanced to the location in a bid to thwart their nefarious mission.

The spokesman said: “The resilient officers, on getting to the area, engaged the bandits

in a fierce gun battle and successfully neutralised two of them, while others escaped with varying degrees of bullet wounds.”

Jalige said an AK-49 rifle, loaded with 24 rounds of live ammunition, and one operational motorcycle belonging to the criminals were recovered.

He said one Yusuf Dahiru, 65, kidnapped by the bandits was rescued unhurt, adding that: “Operatives are currently combing the general area with the view to apprehending the fleeing band of marauders.”

The statement said the Kaduna State Police Commissioner, Yekini Ayoku,

has commended the police officers for the sacrifices they have been making in order to restore public order and normalcy in the state, and urged them to continue to work in synergy with other security agencies in actualising the mandate of securing the public space.

Court Strikes Out N36bn Fraud Case against ex-Jigawa Gov A Federal High Court sitting in Dutse, Jigawa yesterday struck out a N36 billion corruption case against the former governor of Jigawa, Alhaji Saminu Turaki.

Delivering a ruling, Justice Hassan Dikko, struck out the case for want in diligent prosecution by the Economic and Financial Crimes Commission (EFCC).

Dikko also discharged Turaki and ordered the EFCC to do the

needful when they are ready to proceed with the case.

Earlier, the Defence Counsel, Chief Michael Aondoakaa, SAN, pleaded with the court to strike out the case against the first defendant for lack of diligent prosecution. Aondoakaa argued that the case was slated for hearing and neither the prosecution counsel nor witnesses were in the court.

He explained that yesterday’s sitting was the

sixth adjournment since the case was brought before the High Court in Dutse.

He said there was no reason given by the prosecution for non-appearance. The defence counsel, pleaded with the court to strike out the charge.

Turaki, who served as Jigawa governor between 1999 and 2007, was first arraigned by the EFCC before Binta Nyako of the Federal High Court in Abuja on July 13, 2007, on a

32-count charge of alleged misappropriation of N36 billion while in office.

In 2011, the case was transferred to the Federal High Court, Dutse after he successfully challenged the territorial jurisdiction of the Federal High Court in Abuja to hear the case.

He was subsequently rearraigned on the same 32-count charge at the Dutse Division of the Federal High Court.

N855m Fraud: Appeal Court Demands Evidence of State Pardon from Convicted Indian, Others Wale Igbintade The Court of Appeal, Lagos Division has ordered counsel to an Indian businessman, Ashok Israni and two bankers, Anayo Nwosu and Olajide Oshodi to produce before it documents backing up their purported pardon by the Lagos State government.

Justice Kudirat Jose of the

Lagos State High Court in Igbosere had in December 2019 jailed Israni, Nwosu and Oshodi on an amended 15-count charge of conspiracy and obtaining money under false pretence to the tune of N855 million brought against them by the Economic and Financial Crimes Commission (EFCC).

The lower court had sentenced them to five years

imprisonment each on counts 1, 3, 4, 7, 9, 10 and 13 of stealing.

Justice Jose had also convicted NULEC Industries Limited belonging to Israni and Keystone Bank Limited in her judgment.

The companies were also ordered to pay a fine of N20 million to the federal government on counts 1, 10 and 13.

The Judge also ordered the convicts to restitute the sum of N395 million to the victim of the fraud.

But just four months after their conviction, they were released from prison by officials of the Kirikiri Correctional Centre allegedly on the directive of the Lagos State Government, despite the pendency of their appeals before the upper court.

Expert Harps on Integrity Test to Curb Building Collapse Mary Nnah A professor of environmental geotechnics and engineering geology, Mr. Clifford Teme-Songo has said that to curb the frequent building collapse in Lagos, which has created grievous competency challenge among professionals, the government need to involve Geo-scientist to tackle integrity tests before citing any building in the State.

Teme-Songo, who was

the Chairman at the annual International Conference of the Nigerian Association for Engineering Geology and the Environment (NAEGE), and the International Association for Engineering Geology, and the Environment, (IAEG), emphasised the role Geo-scientist played in the construction industry.

The 7th NAEGE and 3rd IAEG Africa Regional Congress was a three-day event, held Lagos,

with the Theme: ‘Engineering Geology: Imperative for Infrastructural Development and Sustainability of Cities in Africa.’

According to him, the problem of building collapse was man-made and could be overcome if there was a genuine interest to right the wrong, apart from the use of substandard materials and unqualified or unskilled builders as the major challenges of building collapse

in Lagos, there is a need to investigate the soil types before citing a building.

“If the Lagos government can adhere to the national code of the building, geologists and Geoscientists should investigate before citing a building.

Other factors include nonadherence to the National Building Code, illegal conversion of existing structures and ineffective monitoring by regulatory agencies.

FG Inaugurates Team for Collection of Helicopter Landing Charges

Blessing Ibunge in Port Harcourt

A consultant to the federal government, Naebi Dynamic Concepts Limited has been saddled with the responsibility of collecting landing and takeoff charges from helicopters operating in all platforms across the country.

The implementation

committee for Rivers State was inaugurated yesterday, at the International Wing of the Port Harcourt Airport by the Chief Executive Officer of Naebi Dynamic, Chike Stanley.

Stanley said he was responding to the mandate given to his firm by the Minister of Aviation, Hadi Sirika, when he inaugurated the consortium in Port Harcourt to collect landing

and take-off charges from helicopters operating within the country’s airspace.

Sirika had said the initiative would help to increase revenue generation and create employment opportunities across the country.

The inaugurated team included all stakeholders in the aviation sector such as the police, the Department of State

Security (DSS), representatives of the Rivers Government, the Nigerian Airspace Management Agency (NAMA) among others.

Inaugurating the team, Stanley said the implementation team would help the firm have easy access to all the platforms, oil rigs, air strips, aerodromes, helipad, helipod located in Rivers, to enable it actualise its mandate.

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NEW WAY TO BANK FOR WOMEN...

L-R: Human Resource Manager, Herconomy, Gbemi Araba; Chief Technical Officer, Rahmat Lasisi; Chief Executive Officer, Ife Durosinmi-Etti, and Associate Product Manager, Opral Ogbuigwe, during a media parleyto introduce the ‘Each Woman Bring One Campaign’ a new way to bank for women in Lagos...recently

2023: NPC to Partner Technology Training Institute for Digital Census

Yinka Kolawole in Osogbo

In order to deliver an improved and credible 2023 census with compliance to global best practices, the For National Population Commission (NPC)

is set to partner Orlg Institute of Technology, Training, and Research, Ilesha in Osun State to ensure a digital census.

Speaking yesterday during an inspection visit to the Institute by a team of NPC led by the

‘Nigeria Police Yet to Be in the Best Shape’ LaleyeDipo inMinna The retiring Niger State Police Commissioner, Mr. Monday Bala Kuyars, yesterday took a critical look at the force which he served for 32 years, and concluded that the security organisation is yet to be in its best shape.

At his pulling out parade in Minna yesterday, Kuyars said: “Let me make my humble suggestion as I am exiting the Nigeria Police Force, the Police Force is yet to be in the best shape.”

The police boss, who will officially quit the force today, did not elaborate further, but said: “I humbly advise

the federal government to provide adequate equipment such as Amoured Personnel Carriers (APC), anti-riot equipment, bulletproof vests, operational vehicles, helmets, long and short range tear gas, and other sophisticated arms to the police.”

He said if these pieces of equipment are provided, it would enable the police to perform their constitutional roles optimally.

Despite the challenges facing the police in Nigeria, Kuyars disclosed that the Niger State Police Command apprehended 326 suspected criminals for major offences in the 14 months he held sway in the state.

Richard Nyong, Jack-Rich Get National Awards President Muhammadu Buhari has Producing, Mr. Tein T.S Jack-Rich, was conferred various national honours on outstanding Nigerians for their resilience, achievements and significant contributions to the development of the nation. Among the notable recipients who were honoured at this ceremony was the Chief Executive Officer (CEO) of Lekki Gardens, Richard Nyong who was honoured as Officer of the Order of the Niger (OON).

The award is in recognition of his huge contribution in making housing more affordable to Nigerians and creating over 250,000 jobs both directly and indirectly for Nigerians across the nation.

Similarly, President of Belema Oil

honoured with the Commander of Order of the Niger C(ON). Jack-Rich has been described by Elin Group as a patriot with abiding commitment to national development goals and selfless service to humanity.

According statement signed by the Chief Executive of Elin Group, Dr. Elizabeth Jack-Rich, the impact of the awardee in his contributions to national economic development goals and aspirations as the first indigenous oil exploration and production company in Nigeria just as his various socio-economic intervention projects through the Belema Aid Foundation have impacted positively on many lives across the country.

General Elections Crowdfunding Committee Inaugurated A group, General Elections Crowdfunding Committee ( GECC) for the 2023 elections has been inaugurated in Abuja.

The committee will mobilise to support selected candidates across political parties in Nigeria to fund logistics costs in their elections.

Chairman of GECC is Mr. Omokioja Eto, a top journalist with years of experience garnered at The Guardian, The Punch, THISDAY, Daily Times and The Trumpet, where

variously rose to become News Editor, Chief Sub-Editor, Editor and Editor-in-Chief respectively.

Speaking after the inauguration, Eto said that unless Nigerians at the grassroots and everywhere support good candidates with patriotic antecedents to win elections through crowdfunding , only those with the financial war chests, which are mainly proceeds from corruption will continue to find their way into power.

Federal Commissioner of NPC representing Adamawa State, Dr. Zirra Clifford, he said the commission was a pacesetter because it would conduct a digital census for the first time in the history of Nigeria and Africa.

According to him, “The commission wants to do something very acceptable and of a great standard. That is why we want to associate ourselves

with the Institute and people who can give us value that would add to our work to ensure a credible population census in the country.

“We have a lot to do in terms of mobilisation, manpower, and logistics for next year’s census.

That is why we are at the Institute to look at what they have. For now, we have a team of Federal Commissioners, the director-

general and the management staff, who are vast in this area and know what we need.”

Clifford, who is also the chairman, Information Communication Technology (ICT), NPC, asserted that the team was discussing with the Institute, and by the time they reach the bridge, they will cross.

He said: “We have started the discussion, and we pray we get

it on time. I am sure that they have not disappointed us. We have a timeline and we have to ensure that we will meet that deadline.

“We have a lot to do in ensuring that logistics, manpower and personnel and everything involved are available on time.

We have started discussions and we pray that they meet our specifications.

Nigeria, Other W/African Countries Receive $250m Economic Boost Michael Olugbode inAbuja

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a total of $250 million for five member states of the Economic Community of West African States (ECOWAS)-Nigeria, Burkina Faso, Ghana, Senegal and Sierra Leone-to boost their oil and gas, energy, road infrastructure, and agriculture sectors.

According to a statement issued yesterday from the bank, the approvals are part of the intensified efforts by EBID to invest in key sectors to spur up post-COVID-19 pandemic recovery as well as mitigate the impact of the Russian– Ukraine war on the member states of the ECOWAS. The announcement, according to the statement, was made by the President and Chairman of the Board of Directors of EBID,

Dr. George Agyekum Donkor, at the just concluded 79th session of the Board of Directors of the bank.

Donkor was said to have observed that the impact of the COVID-19 pandemic and the ongoing Russian–Ukraine war have left many economies in tatters, indicating that the current market conditions have compelled investors to seek premium on investments in sub-Saharan Africa thereby increasing the cost of capital.

He added that this has resulted in dampening economic growth, the wide-spread balance of payments deficits, unfavourable terms of trade, depletion of central bank international reserves, fiscal deficits, and debt distress, stressing the need for EBID, as the financial arm of ECOWAS, to deepen its financial intermediation in all the critical sectors of member states to assist them to recover from the economic challenges.

24 Primary School Teachers Get Housing Allocation in Borno Michael Olugbode in Maiduguri A teacher, Mrs. Obiageri Mazi, who was met at her duty post as early as 6 a.m. about two years ago when Borno State Governor, Prof. Babagana Zulum, paid an unscheduled visit to her school, is among the 24 primary school teachers allocated houses at the newly built quarters for teachers in the state.

Mrs. Mazi, who hails from Abia State and has been a teacher at the Shehu Sanda Kyarimi 2 Primary School under the Jere Local Government Education Authorities for 31 years, after the governor’s visit, was promoted from a class teacher to the rank of Assistant Headmistress, as an executive reward for her punctuality.

Zulum, a professor, had visited

the school around 6 a.m. as part of his unscheduled supervision, and he was amazed that Mazi was already at the school that early morning awaiting the arrival of her pupils.

The governor on the spot gave her N100,000 cash and approved her immediate promotion.

Obiageli was again rewarded when her name came up among the 24 school teachers allocated

flats at a newly unveiled quarters built by Zulum’s administration in Maiduguri.

The quarter was inaugurated by President Muhaammadu Buhari some weeks ago when he visited Maiduguri for the 2022 World Humanitarian Day. The teachers’ quarters at Bulumkutu on the airport road is one of the over 600 capital projects delivered by Zulum.

Ogun First Lady, Others Call for Leadership Role for Girl-child Sunday Okobi As the world celebrates the International Day of the Girlchild, the Ogun State First Lady, Mrs. Bamidele Abiodun, has strongly expressed the need to collectively call for greater attention, investment, and action to support adolescent girls in leadership.

Abiodun made the call at the 2022 celebration of the

International Day of the GirlChild organised by her pet project, The Ajose Foundation, held at the June 12, Cultural Centre, Kuto, Abeokuta, the state capital.

In a statement made available to THISDAY yesterday by the Press Officer,Office of the First Lady, Kemi Oyeleye, the state governor’s wife said: “We need to nurture more spaces to include them in some decision-making

where their voices can be heard, and they can effect change. Our schools, places of worship, and even the communities we live in should offer opportunities where our girls can include their voices in change efforts.”

She said the 2022 celebration marks the 10th anniversary of the International Day of the Girl Child, noting that since inception, there has been increased focus on issues that affect girls in Nigeria,

from the ‘Bring-back-our-girls’ movement to the drive against gender-based violence.

The first lady stated that more people were lending their voices to support girls and create a safer world for them, adding that the administration of Governor Dapo Abiodun had advanced the rights of the girl-child through scholarship programmes and homegrown school-feeding programe.

We ‘ll Partner Govt to Reform Transport Business, Say Ekiti Road Transport Unions Victor Ogunje in Ado Ekiti

The new leaders of the Ekiti State Chapters of the National Union of Road Transport Workers (NURTW) and the Road Transport Employers Association of Nigeria (RTEAN), have promised to partner with the government to reform their workers to imbibe the culture of finesse in the discharge of their duties.

They said that gone were the days when parks were being regarded as safe havens for criminals and trouble makers, saying that their advent would bring a societally acceptable paradigm shift in the transport business in Ekiti.

Speaking at their swearing-in ceremonies in Ado-Ekiti, yesterday, Mr. Joseph Omotayo and Sunday Adetola, the new NURTW and

RTEAN chairmen respectively, said that they were in the saddle to reform the business and make it a model in Ekiti.

The duo promised to change the wrong perception that transport business is for thugs and rascals, calling on the citizens to support them in the quest to deliver on their mandates of transforming the transport sector in the state.

Omotayo commended the State

Governor, Dr. Kayode Fayemi, and the Governor-elect, Mr. Biodun Oyebanji, for the seamless transition, assuring them that the union under his leadership would work for peace.

Soliciting the support and cooperation of members for a successful tenure, he assured them that he would place top priority on their welfare and development.

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Blue Economy: ‘Nigeria Stands to Benefit from Deep Seabed Exploration’ KuniTyessiinAbuja International Seabed Authority (ISA) has expressed hope that Nigeria will benefit from deep exploration from Africa’s seabed, saying there is going to be a particular benefit for Nigeria.

Its Secretary-General, Mr. Michael Lodge, said this while speaking with journalists at the sidelines of the events at the 4th edition of the Africa’s Deep Seabed Resources, ADSR, Sub-Regional workshop on the Imperative of SupportingAfrica’s Blue Economy, held in Abuja.

The event was organised by

the ISA in collaboration with the National Boundary Commission (NBC), the Federal Ministry of Transport, the Nigerian Maritime Administration and Safety Agency (NIMASA), the Nigerian Navy, and other MDAs. He said: “I think there is going to be a particular benefit for Nigeria, but the idea of the project as a whole is that we will go to different locations in Africa.”

According to him, “This project is aimed at the whole of Africa, and of course Nigeria, because they have expressed a very strong interest.

“We had three days of amazing

technical content talking about deep sea exploration, deep sea resource potential in terms of mineral resource potential, marine environment protection and technology, as well as capacity development for the benefit of African states.

“We had a series of roundtables involving all the participants both from Nigeria, as well as eight neighbouring African countries, who have come up themselves with a set of recommendations and proposals as to how Africa can engage more in deep-sea scientific research.

Women Group Strategises on Reintroducing Gender Responsive Bill Alex Enumah inAbuja Various women groups have gathered in Abuja to strategise on how to best re-introduce the Gender Responsive Bill, jettisoned by the 9th National Assembly.The group at a one day Stakeholders’ Consultative Forum on the Status of the Gender Responsive Bills before the National Assembly, lamented that women who constitute a large number of the country’s population have continue to be marginalized in the socio-political cum economic environment of Nigeria.

Most of the women who spoke at the forum identified cultural

and religious beliefs, which they must address if their next move must succeed.

In a welcome, Country Vice President/National President of the International Federation of Women Lawyers (FIDA), Mrs Amina Agbaje, stated that women globally share a common feature of marginalization in the sphere of public life, just as their participation and representation in political life continues to be minimal.

“Current statistics of women in parliament in Nigeria confirm that women representation in parliament is on a steady decline, nine per cent in 2007, seven per cent in 2011, five per cent in 2015

and less than 10 per cent in the 9th National Assembly. Using the 2015 figures, there are only 4 women deputy governors in all of Nigeria’s 36 states.

“It is on this premise, that this consultative forum being the second in the series is being organized. This forum will navigate the best approach/ next steps towards creating a roadmap on re-introducing the gender responsive bills to the incoming 10th National Assembly as well as provide a platform for consolidation of engagement plans

by Civil Society Actors with the National Assembly on Gender Responsive Bills”, she said.

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WORLD OF ISLAM

NEWS XTRA

INEC Appears Before Tribunal, Denies Oni’s Adopting Prophet’s (PBUH) Vote Buying Accusation Beautiful Style for Dawah

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Victor Ogunje in Ado Ekiti

The Independent National Electoral Commission (INEC) has told the Election Petition Tribunal that the June 18, 2022 governorship election in Ekiti State was devoid of vote buying and other irregularities cited by the Social ademicratic Party Governorship candidate Segun Oni. The Resident Electoral Commissioner (REC), Dr. Adeniran Tella, who appeared before the Tribunal yesterday , said the Commission’s officials, who monitored the election complied

with the provisions of the Electoral Act and Election Guidelines in the conduct of the poll.

Tella, represented by the Deputy Director and Head of Operations, Ekiti INEC Office, Mr. Temitope Aina, added that the Commission was not aware of any incident of vote buying as alleged by the Petitioners and there was no inflation of figures in any of the units where the election was conducted.

The INEC chief, who was summoned by subpoena to give evidence at the Tribunal while under

cross-examination by counsel to Respondents further affirmed that the total number of votes cast and collated by the electoral agency at the Ekiti governorship poll corresponded with the number of voters accredited.

The witness said the Bimodal Voters Authentication System (BVAS) Machines used to accredited voters functioned well and perfectly and were not in any way compromised during the conduct of the Ekiti governorship election adding that there was no manual collation and indiscriminate recording at any of the polling units.

Organisation Conducts Free Eye Care for Drivers to Reduce Road Crashes Wole Ayodele in Jalingo

In commemoration of the 2022 World Sight Day, Nobis Eye Centre has conducted free eye care outreach for commercial drivers in Jalingo in a bid to reduce road accidents.

Speaking with journalists during the outreach programme, Managing Director of Nobis Eye Centre Limited, Dr. Gideon Avar. said the hospital targeted drivers in the various motor parks in the state having established that most accidents are caused by drivers

CHANGE OF NAME I formerly known and addressed as MISS ENWONGOABASI EMMANUEL BASSEY, now wish to be known and addressed as MRS ENWONGOABASI IDORENYIN UMOH. All former documents remain valid. The general public should please take note.

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I formerly known and addressed as ADESHINA JELILI ALANI, now wish to be known and addressed as ADESHINA OLADIPUPO JELILI. All former documents remain valid. The general public should please take note.

I formerly known and addressed as HAMMED JELILAT AYINKE, now wish to be known and addressed as IBRAHIM JELILAT AYINKE. All former documents remain valid. The general public should please take note.

I formerly known and addressed as EYIME JULIUS, now wish to be known and addressed as EYIME JULIUS EDIKE. All former documents remain valid. The general public should please take note.

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who have poor eyesight.

Avar maintained that the incidences of road accidents on the nation’s high would reduce drastically if drivers check their eyes frequently to address their sight problems.

“The theme of this year’s World Sight Day is ‘Love Your Eyes’. In Nigeria, we added inputs on it to become ‘Love Your Eyes; Saves Lives’ and that is why we are here at the motor park to treat the drivers to reduce the rate of accidents and deaths on our high ways.

“It is surprising that most drivers who come to the hospital don’t see

properly and one begin to wonder how they manage to drive from point A to B. “Most of the accidents on the roads are avoidable, if only drivers are checking their eyes frequently, and that is why we are here to screen their eyes, offer free treatment and create awareness on the need for regular eye check.

“We are overwhelmed with the crowd that came out for the programme. We therefore, call on Governor Darius Ishaku and other well spirited individuals to support us to address this health challenge,” he said.

Registration for Akada Children’s Book Festival Opens Sunday Okobi The Nigerian first and largest book festival specifically designed for children, Akada Children’s Book Festival (ACBF), has returned for its fourth edition scheduled to take place on October 29, 2022, at the Upbeat Recreation Centre, Lekki Phase 1, Lagos State.

The organisers of the event have expressed delight, as the festival will be held physically for the first time since the 2019 event,, adding that registration is now open at www. akadafestival.org.

According to the acclaimed publisher and children’s book author, Olubunmi Aboderin Talabi, ACBF targets children aged 13 and below; parents, teachers and guardians, as well as those who create child-appropriate content.

The one-day festival is poised to attract 3,000 attendees with various

fun activities.

With the theme: ‘Together Again’, the 2022 festival will feature relevant activities such as book readings, workshops for writers and illustrators, author showcases, interactive and engaging workshops for children, soft skills master classes for teachers and parents and much more.

Announcing the 2022 festival theme, Talabi explained that: “Due to the pandemic, this is the first time in over two years that we have the festival in person. So we want the theme to capture the joy of community and celebrate our shared love of reading and empowering children and their families.”

According to her, when children embrace the love for books and enjoy reading at a young age, it affords them the skills necessary for an accomplished life with endless possibilities.

2023: Tinubu’s Strategy Excites Campaign Director Ibrahim Shuaibu in Kano| The Director of Tinubu Campaign Support Group, Bappa Babba Dan Agundi, has expressed satisfaction with the way the All Progressives Congress (APC) presidential candidate, Bola Ahmed Tinubu, is coordinating his campaign by working with all stakeholders.

Agundi, who stated this while speaking to journalists in Kano yesterday, described the move as good strategy to carry everybody along.

According to him, “I am impressed by the way Tinubu is coordinating his campaign, by working with all stakeholders as against the earlier pronouncement of Tinubu having issues with this or that.

“It is a very good strategy he adopted calling everybody to discuss issues like what happened at yesterday (Wednesday) meeting which Tinubu

had with the Progressive Governors Forum, the Presidential Campaign Council and members of the APC National Working Committee.

“I was present at the meeting where he told us about his manifestos; what he wants to do, and asked everybody to put his hands to improve the manifestos where there is anything left out. All the heads of the campaign council present.

The director expressed optimism that if Tinubu continued in that direction, there would be no complaint or quarrel among the various support groups, and that victory is sure, as everybody would work towards the success of the party in 2023.

“If things continue the way I see it, Tinubu is definitely leading us to victory by the grace of Almighty Allah because you will not experience any quarrel or complaint because everybody is carried along,” Dan Agundi said.

Mansoor Alam/IslamiCity

T

he code of Divine Laws according to which humans become the rightful inheritors of this earth, was given to humankind through the Prophet (PBUH).

He (PBUH) proclaimed to all nations that their correct and complete development can only be achieved through obeying these Divine Laws. The nation that rejects these Laws will be deprived of Divine blessings (9:61).

The Prophet (PBUH) thus became a source of real blessings for all humanity.

– And [thus, O Prophet,] We have sent thee as [evidence of Our] grace towards all the worlds. (21:107) The Prophet (PBUH) was sent to all the worlds with proof and evidence in support of the truth of Allah’s message and was told to present it in a beautiful and endearing way: – Invite (all) to the Way of thy Lord with wisdom and beautiful preaching; and argue with them in ways that are best and most gracious: for thy Lord knoweth best, who have strayed from His Path, and who receive guidance. (16:125) O Messenger! Do not entangle yourself with them. You continue your program of inviting people to the way of Allah with wisdom and kindly exhortation and discuss matters with them in the best possible manner. Allah knows best who is following the right path and who has gone astray.

And the Prophet (PBUH) spoke with them about themselves in such an attractive way that the message entered straight into their heart.

– Those men, -Allah knows what is in their hearts; so keep clear of them, but admonish them, and speak to them a word to reach their very souls. (4:63) This will help those (who still have in their hearts even a small desire to accept the truth) to avoid falling into hell, the pit of destruction: – But remind (them) with it (the Quran) lest a person be given up to destruction for that which he has earned. (6:70) Leave them alone but continue to convey to them the teachings of the Quran so that none is destroyed through not receiving Allah’s guidance.

As for others who are utterly arrogant and argumentative and in total denial of this message, there is no hope for them because their hearts are dead: – Verily, you cannot make the dead to hear (i.e. benefit them and similarly the disbelievers), nor can you make the deaf to hear the call, when they flee, turning their backs. Nor can you lead the blind out of their error, you can only make to hear those who believe in Our Ayat (proofs, evidences, verses, lessons, signs, revelations, etc.), and who have submitted (themselves to Allah in Islam as Muslims). (27:80-81) The only people who will be attracted to the divine message are those who are willing to listen and are prepared to ponder over what is being said to them; and thus believe in the truthfulness of Allah’s Laws and thereafter submit before them wholeheartedly.

And, O Prophet (PBUH), do not get disheartened because they do not listen to you although what you say is based on truth, knowledge and wisdom. Only those who use their minds with rationale and reason can ponder on this. How can anyone who is drenched in his emotions and devoid of his faculty of thinking, do so? Therefore, do not be disheartened that they do not listen to you: – That he or it (Muhammad SAW or the Quran) may give warning to him who is living (a healthy minded the believer), and that Word (charge) may be justified against the disbelievers (dead, as they reject the warnings). (36:70) The Quran says: – It is not the word of a poet, little is that you believe! (69:41) The Prophet (PBUH) conveyed Allah’s commands to the people. These were not the sayings of a poet or a soothsayer’s guesswork.

There are however, very few who use their intellect and logic to ponder deeply on Allah’s commands; and believe in the truthfulness of these commands and adopt them as a Divine Code.

In fact, warning those who are traveling on

the wrong path in their journey of life, that they are headed for destruction, is also a form of glad tiding. Warning people to take appropriate shelter because a severe tornado is approaching is actually good news for them for their own safety and wellbeing. Ignoring this warning is actually inviting death and destruction. This is the purpose of the warning by the Quran: – (He has made it) Straight to give warning (to the disbelievers) of a severe punishment from Him, and to give glad tidings to the believers (in the Oneness of Allah Islamic Monotheism), who work righteous deeds, that they shall have a fair reward (i.e. Paradise). They shall abide therein forever. (18:2-3) It gives warning of a grievous chastisement to the non-believers and announces to the believers – who do right things, glad tidings – that blessings from Allah await them; a home wherein they shall abide beyond the count of time.

And: – Thus have We sent by inspiration to thee an Arabic Qur’an: that thou mayest warn the Mother of Cities and all around her,- and warn (them) of the Day of Assembly, of which there is no doubt: (when) some will be in the Garden, and some in the Blazing Fire. (42:7) The clear and explicit Code of Laws were revealed to the Prophet (PBUH) to caution people living in and around Makkah about the destructive results of their erroneous way of life. Then, he warned them that, if they do not abandon this way of life then for the final decision on this tussle, all groups will be gathered together on an open field. One group will enter heavenly society (as victors) while the others will fall in the ditch of Hell (as losers). The Prophet (PBUH) told them that this is undoubtedly bound to happen.

The messenger himself has been called a warner: – O Prophet! Truly We have sent thee as a Witness, a Bearer of Glad Tidings, and Warner.

(33:45) The Prophet (PBUH) was sent to establish a Divine System which will also supervise the performance of all nations (2:43). He (PBUH) was the bearer of glad tidings to the people who will follow this System; and warned them about the destructive results of disobeying it (33:45, 28:46, 38:65, 46:9, 48:8, 51:51, and 53:56).

As mentioned, the other facet of the warning is glad tiding. But when someone is told that his wrong path of life will lead to destruction and hell – then this is the negative aspect of the warning. Its positive aspect is that the correct path will lead him to success and to heavenly life. This is the glad tiding for the righteous deed. So, warning and glad tiding are, in fact, two lines of the same couplet, two branches of the same root, two sides of the same coin: – And before this, was the Book of Moses as a guide and a mercy: And this Book confirms (it) in the Arabic tongue; to admonish the unjust, and as Glad Tidings to those who do right.

(46:12) The book revealed earlier to Moses (PBUH) was a code of correct guidance and a source of nourishment for human beings. However, it did not stay in its original form. Now this Book, the Quran, has been sent to practically prove the claims mentioned in that earlier book.

This Book (the Quran) has been revealed in an explicit clear language (Arabic), so that the Prophet (PBUH) can warn those who have left the right course and have adopted aggressive and unjust ways. Also he (PBUH) can give glad tidings to those who lead balanced and righteous lives.

Therefore, Prophet Muhammad (PBUH) was both a warner and a source of glad tidings to all humankind: – Verily We have sent thee in truth as a bearer of glad tidings and a warner: But of thee no question shall be asked of the Companions of the Blazing Fire. (2:119) It is in accordance with the Divine Plan that the Prophet (PBUH) was sent to give glad tidings to those who will live in accordance with Allah’s Revelation; and a warning to those who will do the opposite. If the latter do not pay heed to the warning, then they would be destroyed and become companions of hell – and the Prophet (PBUH) will not be held responsible for their agonizing end.

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FRIDAY, OC ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

FRIDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Iwobi is One of the Best Midfielders in Premier League, Says Lampard

Everton Manager, Frank Lampard, believes Alex Iwobi has become "one of the best midfielders" in the Premier League and called on the Nigerian to show it more regularly.

The 26-year-old, who endured an indifferent start to life on Merseyside, has impressed in a central midfield role this season.

Iwobi's first goal of the season - a wonderful curling effort from 25 yards - came in Sunday's 2-1 loss to Man Unitedand Lampard says his ability has never been in doubt.

"His development has been brilliant," Lampard said.

"He played in a double 6 (pivot) earlier in the season and then moved into a slightly more advanced 8 (role) and his form has been great.

"There was a perception about Alex when I came in and it's all his work. All I've done is support him and try

and maybe adapt the positions slightly, and the rest is him.

"I felt and always thought he'd be dangerous in the middle areas of the pitch. It probably helps that I was a midfield player, and some of the things he has I wouldn't have wanted to go up against.

"Opening up the pitch up more, centrally, was a big help for him. He's one of the best midfield players in the league.

"I just want more from him because I think with what he's got, attribute-wise, there's still more to come."

Iwobi joined Everton in August 2019from boyhood club Arsenal for a fee that could yet rise to £34million.

However, he has only started 67 of a possible 123 Premier League games since joining, and has netted five league goals in 92 outings for the Toffees - six fewer than he managed in 100 top-flight appearances for Arsenal.

Giants of Africa Task Parents to Encourage Children in Sports Nigerian parents have been called upon to allow their children to participate in sporting activities alongside their academic programmes.

Co-founder of Giants of Africa Foundation, Godwin Owinje, made the plea during the unveiling ceremony of a modern basketball court donated by the organisation to the Abesan Estate Community in Lagos.

Owinje, who is a former D’Tigers power forward, expressed disappointment over the nonchalant attitude of some parents and guardians when it comes to children and sports.

He said the idea that pupils that combined academics with sports donor excel has been proved wrong over time.

Owinje revealed that there were always abundant opportunities for children doing

sports while also achieving so much with their education.

He said: “Apart from the physical therapy one gets from sports, it also helps reduce crime rates in the society as well as providing scholarship and employment.”

The new basketball court located inside the Abesan Mini Stadium is the court number 28 built across Africa within one year.

He gave kudos to his fellow co-founder, Masai Ujiri and other partners for the funding of the project which is aimed at improving basketball, education and life goals of the young ones in each of the countries.

All the participants were presented with brand new basketball kits which include brand new balls for each of the 50 players selected from within the zone, brand new Nike shoes and bags.

Maradona’s 'Hand of God' Ball Set for £2.5m Auction The ball used by Diego Maradona to score two of the most famous goals in football history is to go on auction.

The match ball used in the famous 1986 World Cup quarter final between England and Argentina carries an estimated price of £2.5million to £3million.

It is being sold by Ali Bin Nasser, the Tunisian referee who allowed Maradona's 'Hand of God' goal during the game.

Bin Nasser said: "This ball is part of football history - it is the right time to be sharing it with the world."

The ball was used for the full 90 minutes of the match, which remains one of the most defining and controversial contests in World Cup history.

Maradona scored the opener by punching the ball past

England goalkeeper Peter Shilton.

Bin Nasser did not spot the handball and allowed the goal to stand, with the player later describing it as being "a little with the head of Maradona and a little with the hand of God".

Maradona's second strike of the match has become known as the 'goal of the century', where he dribbled past five England outfield players and slotted past Shilton. Argentina went on to win the match 2-1 and eventually won the World Cup in Mexico.

The ball is being sold at auction on 16 November as part of a World Cup special event. It will be streamed live and prospective buyers can register their bids online from 28 October.

UZOHO’S BRILLIANT NIGHT...

Nigeria’s Francis Uzoho (right) was the star of the night as he frustrated Manchester United's Cristiano Ronaldo (left) during their Europa League group stage game at Old Trafford... on Thursday night. The hosts won 1-0 with an added time late goal by Scott McTominay

Sylvanus Okpala Backs Peter Obi to Reform Nigerian Sports Duro Ikhazuagbe Former Super Eagles Assistant Coach, Sylvanus Okpala, believes that for Nigerian sports to regain traction and be amongst the best globally, Presidential Candidate of the Labour Party, Peter Obi, must be given the chance to rule the country.

‘Quick Silver’ as the former winner of the 1980 AFCON with the Green Eagles is fondly called, told THISDAY during the week that as someone who has seen it all in Nigerian football both as player and coach, only Obi has the interest of the sports sector at heart.

“I know so many sportsmen and women both retired and active who are into the Obidient Movement like myself Sylvanus Okpala. There are several coaches: male and female also part of this movement.

“They have never met Peter Obi before, they have no link whatsoever with him previously but have seen him as someone who does what he says and believe he will change the face of Nigeria and our sports. This is why we have thrown our weight behind his presidential ambition. All of us are no politicians or card carrying members of any party. We just believe Peter Obi has the capacity to change the face of our sports for once,” stressed Okpala, who played club football for Enugu Rangers, C.S. Marítimo and C.D. Nacional in the Portuguese Liga before retiring into coaching.

Asked what Peter Obi will do differently to change the narrative of current sports woes, Okpala stressed that the presidential candidate of the Labour Party has demonstrated in words and deeds that he has the capacity

Sylvanus Okpala...drumming support for Peter Obi to turn around all sectors of the economy, including sports.

“Peter Obi has been asked this question in the past about sponsorship and how he’s going to raise funds for his campaign.

He said he will start with the little he has and sell to the people what he intends to do and why it is important for the people to follow him. And that after doing that, if the people see him as a good and viable product, they will key into it and bring in money.

“And that exactly is what is happening today. He has the biggest movement in this dispensation. He has the most spread within five, six months of joining the Labour Party and getting the presidential ticket of that party. And that is what Peter Obi is saying will happen in sports, not just football.”

The former Enugu Rangers star defender pointed at how Super Eagles failure to win AFCON 2021 as well as the inability to qualify for the 2022 World Cup in Qatar had adversely created sponsorship problems for the senior national team.

“For example, if Nigeria had won the last AFCON 2021 in Cameroon, are we going to be crying over lack of sponsors for our football activities today? The answer is no. A good product sells itself. People always want to identify with the winner. We live in a winner-takes-it-all world.

If we had won the AFCON 2021 and also qualified for the 2022 World Cup in Qatar, of course, sponsors would have been falling over each other to identify with the Super Eagles. And so, because we didn’t win the AFCON and also

failed to qualify for Qatar 2022, now, funding our football activities have run into cul de sac,” recalled the ex international.

On the Nigerian Professional Football League (NPFL) that has been without sponsors for several seasons, Okpala insisted that there is no way brands will identify with where they will not get full value for their money.

“Organisation is key to getting any sponsor to come near a product. Until we make our league viable with good organisation, I am afraid, we may not come out of the wood we are in right now.

I know, because I played the game here and abroad as a professional.

I was amongst the very first set of players from the domestic league to go abroad to play pro football.

So I know what I am talking about.

“Look at the English Premier League. Money just didn’t come into the league when the reformation started in 1992 thereabout. No, they started it out with little funding and gradually, businesses saw it as a great product to invest in. Today, massive television broadcast money has made it the most viable league around the world. That success boils down to good organisation of the league. “Now, everybody with cash want to come to England to buy Premier League clubs because they see them as good investment that will bring in returns.

“We in Nigeria can get a fair share of the money in football if we do the right things because we have the talents here. I believe that with Peter Obi at the helmsman in Aso Villa come 2023, every other sector, including sports, will key in for better management of our sports,” concludes Okpala who won the AFCON 2013 as assistant coach to late Stephen Keshi.

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On the Kogi-Dangote Row Sam Adnuga These are definitely not the best of times, compounded, still, by the economic buffettings that millions of Nigerians have to contend with. It is already too much that Nigerians have to deal with the failures of leadership. With disasters such as the floods ravaging some states especially Kogi state, it is an entirely different conversation.

Whether you put up the argument that the disaster is a direct consequence of climate change or poor planning, you cannot excuse the other glaring fact of ineptitude at the leadership level. What is at stake is beyond cheap political rhetoric or quasi-sympathetic posturing, we are talking about the lives and livelihood of people. This is why the updates coming out of Kogi is much more troubling, with respect to the controversy on the ownership of the Obajana Cement Plant.

Under normal circumstances, the preoccupation of the responsive government should be to restore the fortune of citizens displaced and dispossessed of all that is precious to them, under the shortest possible time. It is understandable that a humanitarian crisis of this nature would demand the total attention of the government and development partners. But these are not normal circumstances, and the government

Dangote

appears to have other priorities. When the report of an alleged takeover of the Obajana Cement Plant in Kogi State Government, made the news some days ago, I was not sure what to make of it. My simple reaction was: where is this coming from? The reports have it that the plant was invaded by vigilantes under the supervision of ranking

government officials, with the mandate to shut the down, perhaps by all means necessary.

And then, one asks: is this how it is done?

There is this off-putting arrogance that has become the norm rather than an exception, for so-called leaders to find joy in their antagonism towards the private sector an extra feather on their barren crown. The ripple effect is that agents of governments then try to out-do themselves in trying to please ‘Oga’. This is then demonstrated in the tactless manner that the business of government regulation is done. There is more satisfaction to be derived in the number of businesses that are compelled to close shop under very suffocating demands.

Disappointing.

The government claims one person was shot. The company claims 27 people were shot in the process of the siege by vigilantes.

Of course, it would be difficult to take the government for its word in this circumstance.

But the point really is; did matters have to take this turn? How we have come to develop a penchant for absurdities is something that continues to beat me. To my mind, it is worse that anyone is willing to justify what is clearly objectionable.

On the part of the government, it claims that serial attempts have been made to get to sit with the leadership of Dangote Cement over the last six years to discuss the Obajana

plant ownership controversy. It is difficult to see how setting up a meeting with any employer of labour in the state would be an impossibility. Something is clearly not adding up. The move to invade the Obajana plant follows the submission of the report by the special technical committee set up by the state governor. The committee recommended, among other things, that the state “should take steps to recover all accrued dividends from profits made over the years, including accrued interest on the same…Kogi State Government should take steps to cancel the existing seven Certificates of Occupancy in the name of Dangote Cement Company.”

What a way to support businesses!

This is largely characteristic of overall government disposition. You are happy to choke businesses with multiple taxes and other stifling regulations as a sign that someone is doing their job. This disposition is not fit for our development aspirations.

The government, at federal and sub-national levels, should be the key mobiliser of support for businesses to thrive in these times. In the final analysis, what is critical is not a disagreement that the government has one of the players in its private sector, it is what happens when the government is the only thing standing in the way of progress in the interest of those it has the mandate to serve.

contributor in Nigeria. I am, of course, speaking of the obajana cement company, the largest of its kind in the world, birthed by a most illustrious Nigerian who has been giving the most decisive push to the industrialisation of Nigeria. In the cultural origins of capitalism, Max Weber argues that capitalism is rooted in the cultural mentality that deems wealth creation as a vocation, a calling and specifically, the protestant ethic. In general terms and in my understanding, the human agent of capitalism is (in the idiom of postmodernism) the professional investor-who, beyond the material gratification of business returns, finds ultimate satisfaction in creating wealth as an end in itself. The positive Nigeria that is struggling to be born is that in which the many contemporaries of Dangote (who likewise acquire considerable resources from the primitive accumulation stage of Nigeria’s capitalist development) should equally embark on profitably ploughing back the accumulated capital into Nigeria’s economy. Dangote is, in this respect and in

regard of his massive industrialisation of Nigeria and Africa, black Africa’s ultimate textbook capitalist.

The significant point to note about the success of Dangote is his vocational commitment to economic investments regardless of the incentives he has received from the Nigerian government. He exercises an equal mindset towards a ten million naira investment as he would a ten billion naira one. He works doggedly at growing and multiplying whatever is available to him. This is the role model against whom the Kogi enfant terrible has arrayed himself.

On one hand we have Dangote personifying the ethos of a positive correlation between productivity and reward, on another hand we have Bello constituting himself into an antithetical embodiment of the prevalent Nigerian culture of trading hard work and sacrifice for mindless hedonism and reckless abuse of power. Literally speaking, one is building industries and the other has constituted himself into a one man demolition squad.

can make progress on these matters.

Prioritizing inclusiveness in governance (without sacrificing merit), transparency and fairness is the path to unifying Nigeria and improving our cohesion as a society. In a diverse country such as ours, this will require a constitutional return to real federalism, but with implementation timeframes and modalities that carry all parts of the country along. Every part of Nigeria can and should be a winner in this process. I believe that this can include the idea of a rotational presidency among the country’s six geopolitical zones. This would be an honest recognition of our unique features as a country, and avoid the specter of ethnic or religious domination which led to our original national consensus around federalism, on which principle we became independent in 1960 and a republic in 1963.

My second major recommendation is that we must prioritize competence in economic policy making and management in politics and actual governance. This requires political will at the highest levels of elected political leadership. Such competence will tackle more effectively the foundational problems of inequality from the lack of opportunity, poverty, and unemployment. Creating millions of new jobs over the next five years should be a top priority. This will require a combination of incentives and some directional state policy that creates an enabling environment for job creation and opens up opportunities for young people.

Such policy should include a scaled-up combination of temporary and conditional

youth unemployment support, massive skills training, and the provision of venture capital by a public-private-partnership venture capital fund managed not by the government, but by the private sector.

Third, and closely related to the recommendation above, is that we must massively ramp up investment in, and reform of, Nigeria’s education sector.

This should be geared to making Nigeria globally competitive, including through the concept of “brain capital” that has been promoted by PwC Nigeria Partner and Chief Economist Andrew Nevin, by making the education of our young people more skills and technologically oriented.

The same level of investment is required in healthcare, a basic need for all human beings.

It is deeply gratifying to see that in the 2022 National Social Cohesion Index, 60% of Nigerians believe that the future of our country will be better than it is today.

That is cause for hope. A cohesive society is the basis of real development. It requires real work. Let us begin.

YAHAYA BELLO VERSUS ALIKO DANGOTE If we do not factor the villainous interventions of depraved political actors into the equation, Kogi state was on course to becoming the leading industrial conurbation in Nigeria. As it is the case with crude oil, the Ajaokuta steel mill plant has become a resource curse on Nigeria.

After squandering billions of dollars on the project, the Nigerian Attorney General, Abubakar Malami recently stunned the nation with the announcement that Nigeria has agreed to pay damages of $496 million dollars to a company that was earlier granted concession to get the mill functional. This is a pertinent recall.

“In 2013 Smart Adeyemi, a lawmaker from Kogi state, had said the Goodluck Jonathan administration — which was in power at the time — recovered the Ajaokuta steel mill without any attendant financial obligation whatsoever”.

“Years later, after the Muhammadu Buhari administration took over, in 2016, the federal government approved the execution of the modified concession

agreement with Global Steel, which allowed the foreign firm to retain the Nigerian Iron Ore Mining Company (NIOMCO) in Itakpe. Three years later, the same Buhari administration was said to have backed out of the agreement, leading to a legal battle involving both parties”. To any Nigerian other than Malami (and his confederates), the idea of coughing out $496 million in a dubious judgment debt transaction in the thick of the prevailing Nigeria’s dire financial situation would be unthinkable. It is however consistent with the reputation of Malami. He was the Attorney General in 2016 when the project was inherited “without any attendant financial obligation whatsoever’’.

The lot of Nigeria is getting increasingly reminiscent of the scriptures-”from him who does not have, even what he has will be taken away.”.

Of all the battles the Kogi state government can pick, he has chosen to target the largest private sector employer of labour and probably the largest tax

WHY OUR LACK OF SOCIAL COHESION MATTERS wonder that there is so much discontent and hopelessness.

Third, our politics is broken. It has failed to yield any real dividends of democracy such as development, inclusive growth and economic transformation, as experienced by several nations in Asia over the past four decades. This is because our democracy has bred fractionalization, with politicians exploiting our ethnic, religious and language divides. NIgerian politics also tends to be a winner-take-all affair. And it is not anchored on ideas or an informed voting electorate that interrogates the ideologies and policies of candidates. Neither has it been supported (at least in the past) by a truly transparent electoral process.

Fourth, a progressive absence of state capacity, amplified by weak institutions, has created a fundamental distrust of the government and its institutions by Nigerians.

The three ways in which a state demonstrates state capacity are an ability to effectively defend the country’s territorial integrity, the ability to collect and administer taxation (a core aspect of the social contract), and an ability to deliver basic services such as healthcare, education, water, sanitation, and social security. It cannot be argued, whether you believe that Nigeria is a failing state, has already failed, or is a fragile state, that all three indices are weak in our country today.

The fault lines I have identified above are not impossible to overcome. We can, based, first, on a correct diagnosis.

Beyond this, the first way to begin to

build real social cohesion in Nigeria is to manufacture consent and consensus.

This requires a return to the foundations of Nigeria itself. We must return to the National Question and address it squarely if we are to achieve national unity and from there, social cohesion.

What is Nigeria? How is our country structured and governed, by who, and has it all worked out for us as Nigerians regardless of where we come from or how we worship? What does Nigeria mean to each and everyone of us? How can we turn our diversity into a strength (seeing that it might not be a practical idea to break up the country into its 250 ethnic groups) by building trust across prior sectarian divides? The answers to these questions call for an honest national conversation, not just the tired mantra of non-negotiability of the Nigerian union and hypocritical talk of unity by leaders who do not walk their talk. There is a difference between the peace of the graveyard and true social cohesion.

This reluctance to have honest conversations and take difficult decisions that will create a win-win scenario, one that facilitates national stability and unity, is why Nigeria is today a theater of many silent wars, intercommunal violence, and separatist agitations. The very task of leadership includes confronting and resolving difficult questions that, if allowed to fester, only block real progress. We should hope that, whatever the outcome of the political-electoral transition in 2023, we

•Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, is the President of the Institute for Governance and Economic Transformation, a public policy think tank, and CEO of Sogato Strategies LLC, a strategy and global investment advisory firm. This article is adapted from his keynote speech at the recent launch of the 2022 National Social Cohesion Index by the Africa Polling Institute.

Friday October 14, 2022

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MISSILE Northern CAN to APC, FG “There is not denying the fact that there is poverty and hunger in the land. The reality on the ground is evident for all to see. Already, those who mismanaged the economy are using hunger as a weapon as the 2023 general elections approach.

We call on the government at all levels to address the problem of poverty and hunger“ –Chairman, Northern CAN, Rev.Yakubu Pam, and the Secretary-General, Sunday Oibe, lamenting the worsening economic situation in the country.

AKINOSUNTOKUN Yahaya Bello Versus Aliko Dangote DIALOGUE WITH NIGERIA

akinosuntokun@thisdaylive.com

O

ne of the political monstrosities bequeathed by President Mohammadu Buhari was the Governor of Kogi state, Yahaya Bello. At the bizarre demise of the candidate that won the 2016 governorship election in the state, Alhaji Abubakar Audu, the logical expectation was that the running mate to the deceased candidate, James Faleke, would step into the shoes of his principal. But the incipient ethno religious bigotry that would define the Nigerian presidency in the past seven years and a matching suppliant Judiciary supervened. The peculiar fate of Audu was then reinforced with the absurdity of the choice of the replacement. Lest Buhari be indifferent to who steps in to pick up the mantle, a Kogi state Senator had rushed to warn the President that should Faleke replace his principal, it would tantamount to donating kogi state to his Yoruba mentor, (Governor Bola Ahmed Tinubu) who would thereby be granted the right of way to penetrate the Northern stronghold of Buhari.

The President, quite in character, bought the bait, hook, line and sinker. In the ensuing abracadabra where two plus two equals

Yahaya Bello

Dangote

seven, Yahaya Bello was maneuverd from coming fourth in the governorship primaries to replace Audu. It is difficult to imagine a scenario in which the loser snatched victory from the jaws of defeat in such dramatic

circumstances. The poetic justice was that the senator who orchestrated the choice of Bello was the first prey to end up in the belly of the tiger he bestrode. The Kogi precedence later found resonance, four years

later in the Supreme Court judgment that installed Hope Uzordinma as the Governor of the quite unlucky Imo state.

The contrast between Governor Yahaya Bello and Alhaji Aliko Dangote couldn’t been more stark and ironic. Here is a malevolent manifestation of the public governance sector out to vanquish the best of the private sector. One of the more tragic accidents of generational misrepresentation, Bello had since lived up to to the tragic circumstances that birthed his troubled conception. His was the morning that truly shows the day. Testimonies of his reelection campaign include ‘significant reports of violence and fraud along with claims that he incited the violence with a ‘ta-ta-ta-ta’ chant that imitated the sound of gunfire. Bello repeated the ‘ta-ta-ta-ta’ gunfire chant in Akure, Ondo State while addressing a rally for Rotimi Akeredolu’s re-election campaign. In consequence he was among a list of politicians placed on visa ban by the United States Department of State for undermining democracy in Nigeria’.

Continued on page 54

KINGSLEYMOGHALU GUEST COLUMNIST

Why Our Lack of Social Cohesion Matters

W

hether or not a country is “socially cohesive” matters fundamentally.

Social cohesion, a sense of bonding and togetherness in a large community of people, results from effective leadership and good governance.

Effective leadership organizes societies and brings them together. These societies, such as those in Scandinavia (Iceland, Norway, Sweden and Finland which rank highest in the world on social cohesion) do not drop from the sky. They are consciously built. The state of Nigeria today, which few can argue that it is a good one, derives from the level of social cohesion we have achieved or failed to achieve.

Scholars have defined social cohesion as the strength of relationships and the sense of solidarity among members of a community based on trust and shared emotional commitment. The Organization for Economic Cooperation and Development (OECD) says that: “A socially cohesive society works towards the well-being of its members, fights exclusion and marginalization, creates a sense of belonging, promotes trust, and offers its members the opportunity of upward mobility”.

Social cohesion matters greatly because it helps create peaceful, democratic and prosperous nations. As I have had occasion to say previously in relation to our country Nigeria, what builds a nation and makes it successful are the intangible things such as trust amongst citizens and between citizens and the government, a sense of oneness and patriotism and other types of emotional investment, and the opportunities we have or do not have to fulfill our God-given potential within our geographical space. These things matter even more than the physical infrastructure that we often prioritize. In fact, they play a determinative role in whether we have security, economic growth and development.

Without social cohesion, therefore, all the efforts we and our governments may make to create “progress” are in reality based on a foundation of nothing. As Darrell Bricker, a top executive of Ipsos, the global polling organization has so pithily put it, “Social cohesion is the bedrock for societies and economies to function. No country will evolve in a positive direction if its citizens are all rowing in different directions”.

I agree very much with the ScanlonMonash Index of Social Cohesion in

Australia, which I believe is highly relevant to Nigeria. That index makes use of five indicators to measure social cohesion: (a) Belonging; (b) Worth; © social justice (fair, equitable distribution of resources, opportunities, and privileges in a society); (d) Participation; and (e) Acceptance.

What are the fault lines that we must bridge to achieve higher rates of social cohesion in Nigeria? We do not have to go far beyond the results of the Africa Polling Institute’s 2021 National Social Cohesion Index. That survey rated Nigeria’s level of social cohesion at 44.2% –less than the threshold of 50%. In the 2022 NSCI, this has declined to 39.6%. So, obviously, Nigeria is not a cohesive society. The 2021 survey found that 56% of Nigerians feel very disappointed in Nigeria, 73% are willing to “japa” – to emigrate from Nigeria – to other countries such as USA, UK, Canada, Dubai and Saudi Arabia. All people want a better life. 82% of Nigerians are comfortable with the dual identity of Nigeria and their ethnic group, 33% attach priority to their ethnic group over their identity as Nigerians, and only 9% felt more Nigerian than their ethnic origin.

The most important fault line in any

quest for social cohesion is that the very idea of Nigeria is a hotly contested one.

Many Nigerians today no longer believe in their country. That’s because Nigeria as a notion has let them down. They cannot be happy campers in a country that made little progress in moving from being a geographical state – itself increasingly under security threats – to a nation in which they feel a sense of belonging, worth, social justice, participation and acceptance. Social cohesion requires a sense of common purpose and shared destiny.

Each member or group of such a society – which may be diverse or heterogenous, as Nigeria is – brings specific strengths or contributions to the larger mix.

Second, inequality, poverty and unemployment, which are all extremely high in Nigeria, are fundamental fault lines and threats to social cohesion. These economic deficiencies go to the heart of individual happiness and therefore affect our bonds and trust as members of a society. In Nigeria young people make up nearly 70% of the population but face youth unemployment of 55%. It is little Continued on page 54

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