THURSDAY 11TH NOVEMBER 2021

Buhari: Nigeria's Economic Outlook Bright, Viable to Attract FDIs Confidence in Nigeria’s business environment growing, Says Emefiele CBN Governor predicts external reserves to surpass $42bn by mid-2022 Rabiu seeks measures to fast-track growth, development in Africa Deji Elumoye in Paris, France President Muhammadu Buhari has painted a rosy picture of Nigeria's economy saying its outlook

remains bright with sustained investments in infrastructure, particularly in ICT. He stressed that Nigeria’s business environment favours global busi-

nesses and has a friendly regulatory environment that supports Foreign Direct Investments (FDIs).

Buhari said this while delivering a keynote address yesterday in

Paris, France, during the one-day Nigeria International Partnership Forum, with focus on, "Beyond the Pandemic.'.

This is just as the Central Bank

of Nigeria (CBN) Governor, Mr. Godwin Emefiele, who also spoke at same forum yesterday, disclosed that confidence in the Nigerian business environment was growing due to

sustained policy interventions in the economy. Overall, Emefiele said the business confidence index was Continued on page 11

Senate Approves Buhari's $16bn, €1bn External Loan Request... Page 5 Thursday 11 November, 2021 Vol 26. No 9712. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

FEC Approves 5-year National Development Plan, Targets N348.7trn Investments N298.3trn to be contributed by private sector Deji Elumoye in Paris, France The Federal Executive Council (FEC) at its weekly meeting yesterday approved N348.7 trillion invest-

ment portfolio under the federal government’s 2021-2025 National Development Plan (NDP).

The NDP is a successor programme to the Economic Recovery

and Growth Plan (ERGP) for the country.

The five-year NDP has an investment size of N348.7 trillion which is to be contributed by the

federal, state governments and the private sector.

Briefing newsmen after the council meeting presided over by Vice President Yemi Osinbajo at the

State House, Abuja, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, explained that the development plan was structured on economic growth

and development, infrastructure, public administration, human capital development, social development Continued on page 10

Soludo: I'll Hit the Ground Running with My Agenda Promises quality leadership Defectors have started begging to come back, says Oye Buhari to gov-elect: I look forward to working with you Fayemi, Saraki, Gbajabiamila, Ozigbo, Ubah, others congratulate winner TMG demands improved INEC equipment, end to vote-buying Deji Elumoye in Paris, Chuks Okocha, Onyebuchi Ezigbo, Udora Orizu in Abuja, Emma Okonji, Nosa Alekhuogie in Lagos, David-Chyddy Eleke in Awka, Hammed Shittu in Ilorin, Emmanuel Ugwu-Nwogo in Umuahia and Victor Ogunje in Ado Ekiti Anambra State governor-elect and candidate of the All Progressives Grand Alliance (APGA), Professor Chukwuma Soludo, yesterday unveiled his agenda for the state on the ARISE News Channel, in his first post-victory television interview. Soludo promised to run an all-inclusive government that would focus on problem-solving and value addition to the state.

In the interview with the broadcast arm of THISDAY Newspapers, shortly after he was declared winner of the governorship election by the Continued on page 10

NIGERIA INTERNATIONAL PARTNERSHIP...

L-R: President Muhammadu Buhari; Chairman/CEO, BUA Group, Alhaji Abdulsamad Rabiu and Special Representative of the President to Chad & Lake Chad, Ambassador Babagana Kingibe, at the High-Level Nigeria International Partnership Forum in Paris, France... yesterday.

PHOTO: SUNDAY AGHAEZE

Malami: FG Not Ruling Out Political Solution on Kanu, Igboho... Page 8

2

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

3

4

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

5

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

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

NEWS

GOOD TO SEE YOU, MR. PRESIDENT...

President Muhammadu Buhari (right) exchanging pleasantries with Chairman/CEO, THISDAY/ARISE News Group, Prince Nduka Obaigbena (left), shortly before delivering his keynote address at the High-Level Nigeria International Partnership Forum in Paris, France... yesterday

Senate Approves Buhari's $16bn, €1bn External Loan Request Emameh Gabriel in Abuja The Senate yesterday approved the $16 billion, €1billion as well as a $125 million external loan request sent to it by President Muhammadu Buhari.

The consideration followed a report by the Senate Committee on Local and Foreign Debt, which was read on the floor of the Red Chamber on a proposed 2018-2020 external borrowing (rolling) plan.

Chairman of the Committee, Senator Clifford Ordia, who read the report before his colleagues, recounted that on Tuesday, June 1, 2021, there was a request from the President Buhari for the Senate’s approval of the federal government’s 2018-2020 External Borrowing (Rolling) plan as contained in a communication dated 6th May 2021.

He said the 2018-2020 external borrowing (Rolling) plan contained a request for approval in the sum of $36,837,281,256, €910,000,000 and Grant Component of $10,000,000.

Senator Ordia explained that communication together with the attached Schedule was subsequently referred to the Committee on Local and Foreign Debt for further legislative action and after legislative interaction, deliberations and due diligence, a report was laid by his Committee before the Senate in July 2021 recommending approval of the sum of $8,575,526,537 and €490,000,000.

He also recalled that on September 15, 2021, the President of the Senate of the Federal Republic of Nigeria read another Communication from the President and Commander in Chief of the Armed Forces, Containing an addendum to the 2018-2020 External Borrowing

(Rolling) Plan in the sum of $4,054,476,863, €710,000,000 and Grant Component of $125,000,000 for various projects and same was also referred to the Committee for further legislative action.

He explained that, "the request of Mr. President was in compliance with the provisions of the Debt Management Office (Establishment) Act 2003 (DMO) and the Fiscal Responsibility Act 2007 (FRA) which both enjoin the President to seek and obtain the approval of the National Assembly in respect of the External Borrowing programme of the federation and the states.

“The provisions of the above statutes together with the revised guidelines for External and Domestic Borrowing issued by the DMO pursuant to its powers under the DMO Act, requires that all tiers of government of the federation shall borrow only under the following conditions, conditions he said were met and therefore satisfied by the committee.”

In the Committee recommendation, Senator Ordia declared that "external borrowing in the sum of $16,230,077,718, €1,020,000,000 and a grant component of $125,000,000 under the 2018-2020 External Borrowing (Rolling) plan,” was therefore approved.

The loans are expected to fund infrastructure and human capital development projects.

The funding agencies include: the World Bank $3,529,300,000; China Nexim Bank - $5,078,441,252; Industrial and Commercial Bank of China - $3,902,267,260; China Development Bank $2,893,693,930; and the African Development Bank (AfDB) - $698,500,000.

Others are: French Development Agency - $345,000,000; European Investment Bank - $175,000,000; EUROPEAN ECA/KfW/ IPEX/AFC - $190,255,276; International Capital Market - $500,000,000 and Standard Chattered Bank/SINOCURE $62,120,000, bringing the grand total of loans to $16,230,077,718 and €1,020,000,000.

However, concerns were raised by some Senators who pointed

out that the report or the letter did not capture the terms and conditions for the loans.

This was followed by the call by the Committee that, "the terms and conditions of the loan from the funding agencies, be forwarded to the National Assembly for documentation.

In his submission, Deputy President of the Senate, Senator Ovie Omo-Agege argued that findings in the past had shown

that there were blind spots in the contract documents that required clarification.

He said: "We went through the terms but there were some allegations that they were written in Chinese language and at that time it became clear even from the responses given by those who were in charge in the budget office and they threw it back at us that we gave approval".

On his part, Senator Bamidele

Opeyemi said he was concerned about the position the upper legislative chamber has put itself.

"It is a constitutional issue.

There was also a letter from the president for the approval that is concurrence. He said it is not different from concurrence. The decision has been taken we are either to concur or not. What I have come to see is an approval and what we are doing is an approval," he said.

World Bank Hails Nigeria on Debt Reportage Nume Ekeghe The World Bank in its latest report has commended Nigeria’s debt reporting, stating that 40 per cent of low-income developing countries (LIDCs) were yet to publish transparent sovereign debt data in the last two years, excluding Nigeria.

The bank stated this in its latest report on ‘Debt Transparency in Developing Economies.’

According to the World Bank, most LIDCs have hidden debts by way of publishing it in a concealed format thereby creating hidden debts.

The report noted that most public debt data were not systematically published in SubSaharan Africa, adding that loans and securities were typically being covered under such situation.

It also noted that extending sectoral coverage remained a challenge and that total stock of central government guarantees were usually reported, with beneficiaries rarely mentioned.

On Nigeria, the report stated: “Expenditure arrears are typically excluded from domestic debt statistics with very few exceptions.

For example, Nigeria’s federal government, expenditure arrears are not included in the debt stocks. This reflects one of the key differences between the cash-based frameworks largely applied in LIDCs and accrual-based ones.

“A 2019 IMF report showed that at least 70 per cent of countries in Sub-Saharan Africa had domestic expenditure arrears in 2018, amounting to an average of about three per cent of Gross Domestic Product (GDP), with arrears to private suppliers accounting for the largest share.

“A subsequent report by the World Bank showed that arrears are expected to increase by more than 2 percent on average as a consequence of the COVID-19 pandemic,” it added.

It noted that there was ample room for improvement when publishing key debt-management documents.

Medium-term Debt Strategies (MTDS) and Annual Borrowing Plans (ABP) should guide future borrowing and provide key references to investors and stakeholders, it stated.

According to the report, 45 per cent of the International

Development Association (IDA) countries publish a debtmanagement strategy; however, the MTDS is translated into a comprehensive ABP only in nine countries.

The report further stated: “Public debt data are not systematically published or updated, particularly in Sub-Saharan Africa and small states.

Both the 2019 and 2020 assessments show that close to 40 per cent of LIDCs did not reach minimum data disclosure standards as defined by the methodology, either because they have never published any debt data, or because their debt data are more than two years old.”

Commenting on the report, the Group President World Bank, Mr. David Malpass stated: “The poorest countries will emerge from the COVID-19 pandemic with the largest debt burdens in the last few decades, but limited debt transparency will delay critical debt reconciliation and restructuring.

“Improving debt transparency requires a sound public debtmanagement legal framework, integrated debt recording and management systems, and improvements in the global debt monitoring.

“International financial institutions, debtors, creditors, and other stakeholders, such as credit-rating agencies and civil society, all have a key role to play in fostering debt transparency.”

“The study finds that 40 percent of low-income countries have not published any data about their sovereign debt for more than two years and that many of those that do publish it tend to limit the information to central government debt.

“Many developing countries are relying increasingly on resource-backed loans in which governments secure financing by putting up future revenue streams as collateral. Resource-backed loans accounted for nearly 10 percent of new borrowing in Sub-Saharan Africa between 2004 and 2018. More than 15 countries have such debt, but none provide details on the collateral arrangements.”

He further added that the World Bank Group had long considered debt transparency as a crucial step in countries’ development process, because transparency facilitates new investments, improves accountability, and helps reduce corruption.

6

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

BUHARI WOOS FOREIGN INVESTORS...

A cross section of prominent Nigerian businessmen listening as President Muhammadu Buhari (right) delivered the keynote address at the High-Level Nigeria International Partnership Forum in Paris, France ... yesterday

Buhari: Nigeria Ready to Cooperate with France to End International Criminal Networks Deji Elumoye in Paris President Muhammadu Buhari, yesterday, expressed the readiness of Nigeria to collaborate with France to degrade international criminal networks.

He also appreciated efforts of the French President, Emmanuel Macron, in expanding opportunities for business between Nigerians and their French counterparts.

The President, who spoke over lunch during a state visit to President Macron at Palais Elysee in Paris, emphasised that irregular migration and human trafficking were issues of concern to both Nigeria and France.

According to him, the transnational criminal networks operating in Africa and Europe were exploiting the vulnerable in the most dehumanising ways.

"We are committed to working with the relevant French authorities to dismantle these networks.

Nigeria and France have a wide scope to expand and deepen their relations. This effort would be aided by closer engagement at the ministerial level," he said.

President Buhari also commended France for its concern towards achieving appreciable peace in both the Sahel and the Lake Chad region.

His words :“On security, we commend France for its strong commitment to peace and security in the Sahel and the Lake Chad region. This has contributed significantly to the fight against terrorism and extremism in the region."

He, however, noted that the visit of President Macron to Nigeria in 2018 had yielded fruits in renewed interest for entrepreneurship beyond local borders, with more businesses expanding their reach and scope in France, particularly, with establishment of French Nigeria Investment Club.

“On the business front, we welcome the personal efforts of President Macron to strengthen ties between Nigerian and French corporations. It was during your visit to Lagos in 2018 that the French Nigeria Investment Club was established.

“You were also instrumental to the establishment of the France-

Nigeria Business Council more recently in June 2021. These efforts have brought together some of the largest corporations in Nigeria and France and the stage is set for expanded engagement by entrepreneurs in both countries,” he said.

The President affirmed that the French government has continued to share the vision of promoting stronger ties in health and education, even as he appreciated the French President for support in improving bilateral relations with Nigeria.

He said, “Mr. President, we are determined to take steps to further strengthen our bilateral relations and we look forward to working closely with the French government on this.

“France is a major development partner for Nigeria and we truly appreciate this. The contributions of the Agence France de Developpment (AFD) to development projects across Nigeria have been well documented. These projects are making a significant difference in communities across Nigeria.

“We welcome the collaboration of Campus France with

Nigerian tertiary institutions.

This is expanding the scope of Nigeria-France relations into the education sector and improving people – people contact especially, among young Nigerian and French citizens".

The President further said the French government had also played a key role in ameliorating the challenge posed by COVID-19 since 2020, donating 10 million doses of vaccines to Africa, with more than 500,000 sent to Nigeria.

According to him: “France has played a vital role in the fight against COVID-19 in Africa.

We appreciate the donation of 10 million doses of Astrazeneca and Pfizer COVID-19 vaccines to the African Union by the French government.

“We acknowledge, with profound gratitude, the donation of over 500,000 doses of COVID-19 vaccines we have received from France. This has gone a long way to support our national vaccination drive, a critical aspect of our fight against COVID-19".

President Buhari noted that Nigeria and France had wide scope to expand and deepen

Osinbajo Neutral at APC Tripartite Meeting on Direct Primaries, Says Presidency Source Ortom: The idea will be too expensive Deji Elumoye in Paris and George Okoh in Makurdi Vice President Yemi Osinbajo was neutral at Tuesday’s meeting of the ruling All Progressives Congress (APC) Tripartite Committee held to resolve the differences among party stakeholders over National Assembly’s adoption of direct primaries for political parties to elect their candidates for elections, a presidency source has said.

The meeting over which Osinbajo presided and held at the Banquet Hall of the State House, Abuja, however, witnessed exchange of harsh words between proponents and opponents of the idea now in the Electoral Act Amendment Bill passed by the National Assembly.

Similarly, the Benue State Governor, Mr Samuel Ortom, has kicked against the idea of direct primaries for political parties, claiming it would be too expensive for parties to handle.

The tripartite committee was made up of the executive, governors and members of the National Assembly, belonging to the APC. A reliable presidency source said yesterday that while the exchanges were on, Osinbajo only played the role of a moderator on behalf of President Muhammadu Buhari while not seeking to impose his views on either side.

The meeting was sharply divided between APC leaders and governors on the one hand, who argued that direct primaries would be impracticable and APC Caucus in the National Assembly on the other hand, who accused the state chief executives of high-handedness.

“Going into the meeting, everyone knew the matter is now in President's hand. The party and povernors thought an outright 'direct primaries only mandate' may be impractical. National Assembly members felt governors have been high-handed but didn't even say

that at yesterday's meeting-only previously.

“The Vice President was playing the role of a moderator on behalf of President. So, he took no sides but insisted on unity and that party must always engage actively within itself while ensuring internal democracy. He ended the meeting only when everyone had been given a fair chance to ventilate.

“It was the Vice President’s idea with the support of the president to bring everyone involved round the table to discuss what has become a divisive issue between governors and and National Assembly members,” the source said.

The Tuesday meeting failed to agree on the use of direct primaries by parties to select their candidates.

Party leaders and governors were unable to convince members of the National Assembly on the need to provide alternative for the direct primary option. But the National Assembly members insisted that direct primary was the way to go

because it had been working for the electorate.

Meanwhile, Ortom said he has never supported direct primaries, because it was expensive, but opined that if it became law, the PDP would adjust and use it as launch pad to restratigise and win election in 2023.

On the recent Anambra election, he said the performance of the Peoples Democratic Party(PDP) in the state was part of restrategising and reengineering mechanism towards 2023.

The party's candidate, Valentine Ozigbo scored 53,807 to finish behind Chukwuma Soludo of the All Progressives Grand Alliance (APGA), who polled 112,229.

Ortom, however, said like Anambra, Benue PDP would consolidate its stronghold to remain in power in 2023.

"Right here, in Benue State, we have 70 per cent control, which is a clear sign that the party is ready for 2023 election,” he said.

their relations, adding that, “this effort would be aided by closer engagement at the ministerial level. We should therefore work towards more high-level official visits.”

He also told his host that his state visit was coming at a time "we have decided to hold the very first Nigeria International Partnership Forum, which is taking place here in Paris.

“We see the Forum as a strategic step towards strengthening ties between Nigeria and France.

I thank President Macron for the support of the French government for the Forum. I am pleased with the cordial bilateral relations between Nigeria and France, which have grown deeper over the years with closer cooperation

in political, economic, security and socio-cultural matters.”

In his remarks, the French President said there was a growing need for stronger partnership on security in the West Coast, taking into consideration threats in the Sahel.

Macron also urged more enabling environment for businesses to thrive, including smaller companies in France that wanted to stretch their markets into Nigeria.

Buhari and Macron, during the bilateral talks, discussed the need for successful elections in Libya to restore stability, regional intelligence sharing on security, maritime security, single monetary policy in West Africa and the situation in Chad and Mali.

Two More Bodies Recovered from Collapsed Ikoyi Building Segun James

Two more bodies have been recovered from the site of the collapsed high-rise buildings in Ikoyi, bringing the number of the dead to 45.

The Lagos State government disclosed this in a statement yesterday.

The government, however, denied speculations that the two other buildings, sharing space with the collapsed one had been marked for demolition.

Commissioner for Information and Strategy, Mr. Gbenga Omotoso, in a statement, said the identification of bodies of the victims has continued at the Infectious Diseases Hospital (IDH), Yaba, Lagos.

He said 32 families had so far submitted DNA samples to identify bodies of their people, adding that in cases, where identification was clear without arguments, the bodies would be released to the families.

A committee to supervise the identification and release of the bodies has also begun work. The committee comprises senior officials of the Ministries of Health and Justice.

Omotoso explained that, contrary to speculations, "No directive has been given for the demolition of the two high-rise buildings standing at the site of the 21-storey collapsed building

in Ikoyi, Lagos.

"The panel of inquiry instituted into the collapse of the building has continued to sit and an integrity test on the two buildings is yet to be conducted.

It is, therefore, wrong to assert or speculate that the buildings will be demolished.

"The operation at the site of the collapsed building continues. Vehicular movement around the site has been smooth, following the reopening of the road."

Meanwhile, the six-man independent investigation team set up to determine the immediate and remote reasons for the collapse has continued to sit.

Governor Babajide Sanwo-Olu of the state, recently, named members of the panel at the scene of the incident, comprising professional builder, town planner, structural engineer and legal practitioners – all from the private sector.

President of Nigeria Institute of Town Planners (NITP), Mr. Toyin Ayinde, is the chairman of the panel, while Ekundayo Onajobi, a lawyer in a private law firm, is the secretary.

The panel’s terms of reference also included ascertaining whether there was a compromise of the building codes by the developer, his contractor and statutory regulatory agencies.

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

7

8

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

WOC JUSTICE SUMMIT 2.0...

L-R: Executive Assistant to Managing Partner and Associate, Wole Olanipekun & Co, Chuba Obi-Okaro; Managing Partner, Bode Olanipekun, SAN and Senior Associate, Faith Adarighofua, at a press PHOTO: ABIODUN AJALA conference on WOC Justice Summit 2.0 (a platform for critical engagements by Wole Olanipekun & Co) in Lagos... recently.

Malami: FG Not Ruling Out Political Solution on Kanu, Igboho Says govs’ case against $418m payment to contractors belated Alex Enumah in Abuja The federal government is opened to all kinds of considerations, including a political solution, as parts of efforts to resolve the crisis surrounding separatist agitations in the Southeast and the Southwest parts of the country.

Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, yesterday, hinted at this possibility in a chat with select journalists in Abuja.

The AGF, who insisted that criminal conducts would never go unpunished, however, remarked that the government had been using the amnesty policy to tackle some security challenges in the country and as such, the possibility of a political solution could not be ruled out.

Malami spoke on many other issues, including the current controversy between the federal government and the Nigeria Governors’ Forum (NGF), the international arbitration involving Nigeria and Process and Industrial Development (P& ID) company on the one hand and Sunflower firm over the Mambila power projects on the other.

Asked whether the federal government was not disposed to a political solution to the cases of the leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu and leader of the Yoruba Nation, Sunday Adeyemo otherwise called Sunday Igboho, as being canvassed by some leaders and other stakeholders in the country, Malami noted that although such consideration was not yet on the table, would however not mind taking a shot at it once there was an approach on how to go about it.

"As far as security situation is concerned and as far as governance and this administration is concerned, you cannot rule out all possibilities", he said, adding: "But then, there has

to be an approach for government to consider."

He explained that he could not be preemptive at this stage by stating clearly and outright that reconciliation was being considered without an approach been made.

According to him, it was the approach if at all any was made, that the government "will look into for the purpose of looking at its weight, the authenticity of it, the good faith associated with it and then bring about the considerable factors relating to the negotiations or otherwise.

"So, it is not a conclusion that one can outrightly make without juxtaposing associated facts relating to the reconciliation, there has to be an approach and then a counter consideration".

Malami was however quick to add that no approach in that respect was on the table for consideration yet, it was something the government might take a shot at when it gets to that stage.

"So, no approach in that respect is on table for consideration yet.

So, we'll cross the bridge when eventually we get to that - when perhaps a type of request is made, we'll consider," he said.

While the federal government had been involved in legal battle with Nnamdi Kanu in Nigeria, it’s been battling to extradite Igboho from Benin Republic to face criminal charges.

Both Kanu and Igboho have been in the forefront of agitations for breakaway from Nigeria.

The government, in fresh charges filed against Kanu last month, at the Abuja Division of the Federal High Court, had linked him with the wanton destruction of lives and properties as well as attacks on security operatives and government infrastructure in the South east of Nigeria.

But some leaders from the two geopolitical zones have been seeking a political solution to the situation.

Meanwhile, on the payment of

consultancy fees to contractors, who allegedly helped the 36 states government to recover excess deductions from the account during the payment of the Paris Club loans, Malami berated the governors for "aprobating and reprobating at the same time".

He explained that the governors could not come to deny a liability in 2021 having consented to it and made several payments.

Arguing that the federal government was obligated to obey orders of courts and carry out executions of court judgment, he claimed that the governors’ current litigation over the payment of consultancy services fees was belated.

"I have told you earlier that the judgment in contention was a 2013 judgment and it was a consent judgment in which ALGON and governors’ forum consented to a judgment.

"So, what judgment are you talking about in 2021 against the

background of the fact that they consented to the judgment in 2013, against the background of the fact they have been effecting payment as far back as 2013, against the background of the fact that they have written in their right, under their respective hands, committing to the payment of this consultancy fee we are talking about.

"So, I think it is logical for all to see that they were indeed, submissive and they were indeed in agreement, and they have indeed conceded and consented to a judgment that created the liability they are now complaining about.

"They have probated at a point in 2013 by way of submitting to judgment and then effecting payment over time. And, in fact, among the claims relating to Paris Club that has been presented before the federal government over time is a component relating to consultancy fees.

"So what they are doing is as good as aprobating and reprobating

at the same time –conceding in 2013, and objecting 2021".

He denied any relationship with the contractors or having any personal interest, except for his duty to protect the federal government from unnecessary liabilities.

According to him, since the federal government was made a party to the suit, there was the possibility that the assets of the federal government could be seized to pay the debt.

"So, as far as the payment is concerned, the office of the attorney general is not in any way involved.

But the fact remains, judgments are meant to be enforced and then you are not expected to be speculative as far as the enforcement are concerned.

"When in the case of P&ID, an award was made against Nigeria, what we did was to approach the court of law for the purpose of setting aside the enforcement proceedings. It was only when

the proceedings were set aside that we now have respite in terms of ensuring that no asset of the federal government is attached.

"So, the fact that they are in court, belatedly, again against the background that they have three months within which to appeal against the 2013 judgment, which they kept sleeping from 2013 until 2021 makes it illogical that they expect the federal government or perhaps any institution of government faced with a judgment and order of the court to await their belated approach to court, which is indeed a forum shopping".

He further clarified that following complaint from the governors at a time, the administration had involved the EFCC and DSS to authenticate the project; as well as what was done and how much.

He said the total Judgment debt was put at about $3.2 billion out of which the governors did not only agree to pay but actually have been making payments until recently.

In Fresh Attacks, Bandits Kill 16, Injure 13 in Katsina Francis Sardauna in Katsina About 16 people were reportedly killed in Katoge and Yanturaku communities in Batsari Local Government Area of Katsina State, following invasion of the area by marauding bandits.

The bandits, who launched the fresh onslaught on the communities at about 7:15pm last night, also left 13 other villagers with varying degrees of injuries as survivors scampered to safety.

A resident of Yanturaku, Ibrahim Mu'azu, while confirming the incident to THISDAY, claimed that the hoodlums operated for about an hour before the intervention of security personnel.

Mu'azu, whose mother, Amina, was among those injured by the mobsters during

the invasion, said the shutdown of telecommunications services in the area triggered the new wave of insecurity.

"My mother, Amina Mu'azu, who was severely injured by the bandits, who attacked our community (Yanturaku) yesterday is receiving treatment at the Federal Medical Center, here in Katsina.

"The bandits came in large numbers with their motorcycles and started shooting sporadically, where they killed 16 people in Yanturaku and Katoge. We couldn't alert security people on time because of the lack of network in Batsari.

"The shutdown of the network in Batsari is not yielding any result because the bandits are killing us everyday and we can't report

their actions to security agencies for quick intervention”.

State Police Public Relations Officer, Gambo Isah, said the bandits, armed with sophisticated weapons such as AK-47, killed only 11 villagers in both Katoge and Yanturaku communities.

Isah, a superintendent of police, in a statement, said, "Yesterday (Tuesday) 09/11/2021 at about 1915hrs, bandits in their numbers, shooting sporadically with AK 47 rifles, attacked Katoge and Yanturaku quarters of Batsari LGA, killed 11 and injured 13 persons.

"The Commissioner of Police, Katsina State Command, has deployed Deputy Commissioner of Police, in charge of operations, with additional units of PMF personnel to the area to beef up

security and restore confidence in the affected communities".

But the District Head of Batsari, Tukur Mu'azu Ruma, had earlier told THISDAY that fleeing bandits from the neighbouring Zamfara State were infiltrating and taking over farming communities and villages within his chiefdom.

He explained that bandits from Zamfara and Kaduna States, who were suffering from starvation as result of the ongoing onslaught against them by security personnel, were ransacking communities in the area to steal foodstuff and other valuables belonging to residents.

He expressed worries that many farmers in the local government might not harvest their crops due to the activities of the fleeing bandits.

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

9

10

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

TEN SOLUDO: I WILL HIT THE GROUND RUNNING WITH MY AGENDA Independent National Electoral Commission (INEC) yesterday, Soludo pledged to hit the ground running and demonstrate quality leadership at a fast pace.

He said he would pursue peace and unite the people in order to bring the much-needed value to the state.

Soludo was declared winner of the November 6 governorship election after polling a total of 112,229 votes to defeat his closest rival, Valentine Ozigbo of the Peoples Democratic Party (PDP), who scored 53, 807 votes to emerge second. Andy Uba of the All Progressives Congress (APC) got a total of 43,285 votes to emerge third, while Ifeanyi Ubah of the Young Progressives Party (YPP) came fourth with 21,261 votes.

Ubah won in one local government, just as Ozigbo, while Soludo won in the remaining 19 local government areas.

The Returning Officer for the 2021 Anambra State governorship election, Florence Obi, announced the final results in the early hours of Wednesday at the INEC headquarters in Awka.

Not unexpectedly, National Chairman of APGA, Chief Victor Oye, who also spoke on Arise News Channel, said he had started receiving calls from some of those, who had defected to other political parties at the heat of the election, but were now willing to return.

Oye said the party would welcome them back if they showed sufficient remorse and true repentance.

Meanwhile, congratulatory messages have begun to pour in for Soludo, with President Muhammadu Buhari, not only congratulating the governor-elect, but also saying he looks forward to working with him in the collective interest of the country.

Ekiti State Governor and Chairman of Nigeria Governors’ Forum (NGF), Dr. Kayode Fayemi; former Senate President, Dr. Bukola Saraki; Speaker of the House of Represen-

tatives, Hon. Femi Gbajabiamila; Peoples Democratic Party (PDP) governorship candidate in the Saturday election, Valentine Ozigbo; and former PDP National Chairman, Uche Secondus, congratulated Soludo for a victory well deserved.

Equally identifying with the former Governor of the Central Bank of Nigeria (CBN), were a former national publicity secretary of the PDP, Chief Olisa Metuh; former presidential hopeful and chieftain of the ruling All Progressives Congress (APC), Mr. Gbenga Olawepo-Hashim; and governorship candidate of Young Progressives Party (YPP), Ifeanyi Ubah, among others.

Similarly, foremost civil society election observation organisation in Nigeria, the Transition Monitoring Group (TMG), called for improvement of election equipment by INEC, especially, its newly introduced Bimodal Voter Accreditation System (BVAS).

Interestingly, Soludo’s victory at the just concluded governorship election reverberated in neighbouring Abia State, with a resurgence of hope among the APGA faithful for electoral ahead of 2023.

Speaking to his plans for Anambra, Soludo said, “We have fought a political fight and we have gone to court and now is the time for us to come together to build the state.

The incumbent governor wanted me to succeed him among all other contestants, and he worked hard to ensure that APGA won the election.

“Now that APGA has won, and the governor-elect has emerged, it is time for us to work as a political party and also extend our friendship to other party members in the state, in order to build the state.”

He said anyone willing to support the state would be welcomed, saying, “It is about bringing value to the people and I will work with those who will bring value to the people, and turn Anambra State into an industrial hub that we all

envisage. I will reach out to them in the ‘Anambra Spirit’ in order to develop the state together.”

Asked about his plan for women and youth representation in his government, Soludo said, “There will not be a dramatic change in women and youth representation in my government, because I will be focusing on problem solving. If the women and youth show the capacity to deliver, so be it, and I will engage them to deliver on value.

“When I was Central Bank Governor, I gave responsibilities that had to do with trust and integrity to the women, and they never disappointed me. Anambra has a youthful population and I will not discriminate between gender in my administration, and, above all, my manifesto is a youthful manifesto.”

Soludo assured the people of Anambra State that anybody with useful values to offer would be engaged to do so.

On the transition process and how he would run the state after the swearing-in ceremony in March next year, Soludo said he had some experience in governance in the past, having managed huge bureaucracies with six parastatals, long before becoming Governor of CBN. He stated, “I have understanding of a few things on how government and institutions work, and the bureaucracy in governance.

Again, my governorship will be a continuation of APGA government, so, I expect a very seamless transition process and good governance.”

Soludo said he would not have begrudged anybody if he had lost the election, but would simply have thanked God. According to him, “In 2010, I was conscripted to run for election in Anambra State, and when I lost the election to the former governor, I congratulated him two hours after INEC declared him winner of the election, and I walked away after the thanksgiving service. Also in 2013,

I was disqualified from contesting the election under APGA and I did not leave the party because of my disqualification. But I remained in the party and still supported the party.

“I have persevered after loosing election twice in the state, and I believe this is the right time that God Almighty has planned for me to emerge as winner. Now is the time for me to serve the people of the state and I see it as a divine journey for me, and I am grateful to God and to all the people of Anambra State, including the judiciary, and President Muhammadu Buhari.”

The former CBN governor believed his victory was divine, stressing that he would not be overwhelmed by his triumph at the poll. He said his focus would be the enormity of the work ahead of him as governor.

Asked the possibility of APGA winning elections outside Anambra State and becoming a regional and national political party, he said the name of the party, which was registered since 2002, would continue to speak volumes for the party’s mission of becoming both a regional and national political party.

“The first election that APGA won was in the South-east, and we will continue to work hard as progressives to stretch our winning strategies to other states across regions,” Soludo said.

On his part, the APGA national chairman, while speaking on moves by defectors to return to the party, explained, “For me, people disagree to agree. You mentioned the deputy governor, nobody did anything to him. He just chose to embark on an adventure.

“He was not denied anything.

He had everything he should have.

He had everything, but suddenly he jumped out of the team. So, how are you going to blame somebody who jumped out of a 21- storey building?

“What do you expect will happen

to him? He will crash and end up blaming the building or the builder.

All those people that left without justification, they went on sheer adventure, and some of them have been calling to return to the party.

For me, they can come back if they show sufficient remorse, because APGA is a party for all of us.”

election observers, political parties, and their agents for working together to deliver an election devoid of violence.

Fayemi praised the people of Anambra State for their perseverance and tenacity in participating in the poll, despite some technical hitches that were recorded, and ensuring that their votes counted.

Buhari to Soludo: rally stakeholders for transformational leadership

Saraki: Anambra poll outcome has crucial lessons

President Muhammadu Buhari, while rejoicing with Soludo, enjoined him, as a member of the Presidential Economic Advisory Committee, to rally other stakeholders to tackle the challenges confronting the state and the South-east, in general.

Buhari, in a release by his media adviser, Femi Adesina, added that he looked forward to working with the incoming governor for the peace, security, and development of not only Anambra State, but the entire country.

The president also praised the security agencies for their determination to ensure that the election went on as smoothly as possible. He commended INEC for the successful conclusion of the exercise, despite the initial challenges encountered.

Democracy is the real winner – Fayemi

Fayemi said the Anambra election attested to Buhari's sincerity and commitment to delivery of a free, fair, and credible electoral system. The Ekiti State governor said democracy was the real winner at the Anambra election, with the successful and peaceful conduct of the poll.

In a statement by his Chief Press Secretary, Yinka Oyebode, the governor said the will of the people of Anambra State, expressed through the ballot box, had prevailed. He hailed all stakeholders, including the electorate, INEC, security agencies,

SGF: 2023 Would Have Been at Risk Had INEC Failed in Anambra Says Buhari’s legacy beginning to manifest

Secretary to the Government of the Federation, Boss Mustapha, yesterday, said the 2023 general election would have been exposed to grave danger if the Independent National Electoral Commission (INEC) had mismanaged the governorship poll in Anambra State.

Mustapha described the peaceful outcome of the election and the transparency exhibited by INEC as some of the legacies of a credible electoral culture that President Muhammadu Buhari had promised to bequeath to the nation before

leaving office.

Speaking on the general conduct of the election, the SGF, in a chat with THISDAY, said, “Our greatest achievement as an administration is that INEC, in spite of all the threats to peace and security, was able to hold the 2021 gubernatorial election in Anambra State. If we did not, 2023 would be at risk.”

Mustapha, who was full of praises for the president, stated that whatever successes recorded in the Anambra election happened because the president provided the

atmosphere for them.

The SGF stated regarding the successful governorship poll, “This happened because President Buhari has promised to leave a legacy of credible election before quitting office in 2023 and he has been walking his talk. It will be unfair for anyone to lose sight of this very instructive fact.”

While congratulating Soludo on a good showing during the election, Mustapha also commended him for extending a hand of fellowship to his opponents, saying election

should not be a do-or-die affair and everyone must learn to imbibe the sportsmanship spirit.

He told Soludo that although he had been a member of the economic team, working closely with the president from a more vantage position would afford him the opportunity to see more positively.

According Mustapha, “In the statement he just issued, President Buhari has already said he was looking forward to working with him, not just over Anambra but Nigeria, in general. That’s a

loaded statement, which means the president’s disposition to Project Nigeria is not defined by ethnic profiling but who can actually get the job done.

“I congratulate Soludo, his cocontestants, INEC and its staff, as well as all the security agencies for a very good job that has done the nation really proud. Nigeria would certainly not go lower from this remarkable progress. Again, I congratulate everyone, who has made the Anambra success feasible.”

FEC APPROVES 5-YEAR NATIONAL DEVELOPMENT PLAN, TARGETS N348.7TRN INVESTMENTS and regional development.

She disclosed that for the investment size, the public sector would contribute N49.7 trillion; while N298.3 trillion would come from the private sector.

According to her, the funding strategy includes broadening the tax base and expanding the capacity of the private sector through creating investment opportunities and delivering quality engagements and incentives.

She said: “Today, the Ministry of Finance, Budget and National Planning presented a memorandum to council, requesting for approval of national development plan for 2021-2025 which is a plan that is succeeding the ERGP which will expire in December 2021.

“This NDP is structured around six concepts and this concepts include economic growth and development, infrastructure, public administration, human capital development, social development and regional development.

“The cost of the plan has an investment size of N348.7 trillion over a five year period. This investment size is to be contributed by the public sector at N49.7 trillion representing 14.3 per cent and the

private sector at N298.3, representing 85.7 per cent.

“Also the public sector expenditure component of N49.7 trillion will be contributed by the federal government as well as the states.

“The federal government expenditure component is N29.6 trillion, representing 8.5 per cent of the total expenditure size while the state governments will contribute N20.1 trillion representing 5.8 per cent.”

According to her, the funding strategy for the plan had also been identified, which she listed to include broadening the tax base and expanding the capacity of the private sector through creating investment opportunities and delivering quality engagements and incentives.

“Also exploring domestic and concession financing sources and strengthening and setting up financial investments vehicles and public private partnership as well as the Nigerian investment.

“The plan requires the establishment of a strong implementation mechanism and framework that promotes performance and accountability which is necessary for the implementation of the plan.

“There will also be a development plan implementation unit that will report to the National steering committee which will be headed by Vice President with the Ministers of Finance, Budget and National Planning as Vice Chair.

“The establishment of the plan development implementation will be in the planning arm of the ministry to ensure that the ministries, departments and agencies, state governments and private sector organisations are all working in a coordinated fashion.

“The plan also has a specific concentration to deliver within the five year period and immediately we get this plan launched, we'll be continuing to work on Nigeria Agenda 2050. And this is to make sure we don’t have a crisis going forward.”

Also speaking on the NDP, Minister of State for National Planning, Clement Agba, said in coming up with the NDP, government took into consideration the criticisms that trailed the EPRG including the fact that it was not inclusive enough.

According to him: “One of the downsides that we learnt from the ERGP or complaints that came from

people was that: it wasn't inclusive enough, it wasn't participatory enough, and that people saw it as a federal government plan.

“So, deliberately, for this National Development Plan 2021-2025, the issue of no one being left behind was key. We have to make sure it's national enough. That is to say that it should be prepared by federal government, state governments, local governments, and more importantly, the organised private sector.

“That is why in terms of governance structure that was approved by Mr. President, we have two co-chairs. One is from the private sector, Mr Atedo Peterside, and one from the public sector, my sister, Dr Zainab Ahmed.”

On his part, Minister of Health, Dr. Osagie Ehanire disclosed that FEC approved contracts worth about N1.264 billion for projects in Federal Medical Centre, Katsina and Uthman Dan Fodio University, Sokoto.

According to him, the council approved the procurement of an oncology and radiotherapy centre for the medical centre to be able to handle cancer cases.

He said council approved that

the linear accelerator and the Magnetic Resonance Imaging (MRI) machine at the University of Sokoto be replaced.

“The FEC today considered three memos from the Ministry of Health, and all of them were in respect of procurements. First was the memo from the Federal Medical Centre, Katsina for an oncology and radioterapy center, to be able to handle cancer cases.

“The projected award was to a company for N1,023,500,668:86 for the completion period of 42 weeks and is going to be executed by a Nigerian company.

“The second memo was for reequipping Usman Danfodio University which is one of our centres of excellence for managing cancer also.

“The equipment are old and broken down. The most important one which is linear accelerator which is going to be replaced and the Magnetic Resonance Imaging (MRI) machine which will also be replaced.

“The MRI at the cost of N440,484,984.32 to replace the old dis-functional one and a linear accelerator at N887,690,000 from special intervention fund. For the MIR is from budget appropriation.”

Saraki congratulated Nigerians, particularly, the people of Anambra State, for the success of the governorship election. He advised the people not to allow the crucial lessons, which the results of the election signified, to go unnoticed or be ignored.

In a statement by the head of his media office, Yusuph Olaniyonu, the former senate president commended the stakeholders and others, who initiated and participated in the dialogue that created the peaceful atmosphere for the election.

He praised the security agencies for the diligence and professionalism displayed by the officers and men on duty. He also lauded INEC for the successful deployment of technology to improve the election process, particularly, the adoption of the Bimodal Voter Accreditation System (BVAS) and electronic transmission of results.

Saraki said, in the statement, “The Anambra State electorate has taught the rest of Nigeria a lesson about the need for people to vote according to their conscience, to conduct polls devoid of violence, and stand firm in defence of our votes.

“All stakeholders also have to work on the issue of vote-buying.

It is a problem, which we must find a solution to, otherwise, it will continue to undermine our democracy. These are some of the lessons from Anambra State, which must not be ignored.”

Gbajabiamila: Soludo coming with experience and skill

In a congratulatory letter to Soludo, Gbajabiamila said with the former CBN governor’s antecedents as an accomplished professional, he believed the Anambra governor-elect would bring his experience and expertise to bear.

Gbajabiamila told Soludo in the letter, "You are taking office at a time of profound challenges and tremendous opportunity in our country. All of us, who hold public office, have an obligation at this moment in history to take active measures, guided by considerations of the best interests of our people, to overcome these challenges and provide conditions for our citizens to thrive.

"You have in your professional life shown a tremendous capacity for effectiveness; you have demonstrated personal integrity and have already accomplished much more than most can ever hope for. I am confident that you will thrive in this new role, and your service will glorify God and elevate the people of Anambra State and all of Nigeria. I wish you success, and I assure you of my support."

PDP candidate congratulates Soludo

The PDP candidate, Ozigbo, in a press statement he personally signed, said he had called and congratulated Soludo on his victory at the poll.

Ozigbo stated, "I have just called Professor Chukwuma Soludo and congratulated him on being declared the winner of the Anambra State governorship election, 2021. I wished him well and prayed for his success.

"Let me also use this opportunity to congratulate all the men and women, who contested our dear state's governorship this year. You all have shown a determination to see that Anambra is better. It was an honour to run this race with you."

Ndi Anambra have spoken, says Metuh

Metuh said, in a statement, "Finally, Ndi Anambra have spoken and their voices were heard loud and clear. They have, through their votes, democratically made their choice of who governs them for the next four years.

"Though the outcome of the election might not have swung the Continued on page 43

11

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Wike Urges Senate to Protect Nigerian Law School from Politics Blessing Ibunge in Port Harcourt Rivers State Governor, Mr. Nyesom Wike has urged the Senate not to politicise the bill in the National Assembly which seeks to establish two campuses of the Nigerian Law School in each of the geopolitical zones in Nigeria.

Wike stressed that the proponents of the bill titled: ‘A bill for an Act to amend the Legal Education (Consolidation etc.) Act by establishing the campuses for the Nigerian Law School, and for other related matters’ merely want to score cheap political point in their constituencies ahead of the 2023 general election.

Wike stated this during the inspection of the ongoing construction work at the Dr. Nabo Graham Douglas Campus of the Nigerian Law School, Port Harcourt yesterday.

He said "it is so unfortunate that some Senators want to politicised the establishment of Nigerian Law School campuses, even when there are glaring evidences that the federal government cannot adequately fund the existing ones.”

The governor stated that the proposal that in the south-south zone, one Law School campus should be in Yenagoa and another in the village of the Deputy Senate President, when approval had been given for the establishment of the Dr. Nabo Graham Douglas campus in Port Harcourt, smacks of petty politics.

According to him, there is no way the Council of Legal Education would support politically-induced proliferation of Law School campuses across the country.

“It is so unfortunate in this country that everything is being politicised. We are not perturbed because the Federal Government approved the establishment of this Law School.

“We got a letter from Mr. President through the Honourable Attorney General and Minister of Justice, Abubakar Malami, approving the establishment of this Law School. And he stated graciously through the Council of Legal Education that it should be established here in Port Harcourt.

“We said we are going to provide all the necessary infrastructure. I can see the level of infrastructure that is being provided, which of course I have said before is going to be world class infrastructure that is supposed to be in a Law School.

"We are not only providing this infrastructure, we are also providing accommodation where the lecturers will live with all other things attached to it. And this Law School will have its own investment to take care of the Law School whether the government is here or not.

“From what I heard, the Deputy Senate President through some other lawmakers are sponsoring a bill to establish two schools per zone, and then saying that one will be in Yenagoa and one in Delta state, in the village of the Deputy Senate President.

It is most unfortunate,” he said.

According to Wike, the Law School is a highly technical institution that should be insulated from politics. He urged those behind the bill seeking the establishment of more Law School campuses to also bear in mind the cost of funding them.

“Today, to even fund one Law School, see how problematic it is. Go to the Abuja Law School, go to Yenagoa Law School, see how they are. And see what we are doing. It is not easy to fund the existing Law School and you are now saying that the Federal Government should establish two Law School in each zone. Where

will the funding come from?

Everything is being politicized,” he said.

Wike after assessment of the progress of work at the Dr. Nabo Graham Douglas campus, expressed optimism that in the next six months, the new campus fully funded by the state government would be handed over to the

Council of Legal Education for commencement of academic activities.

“The Council of Legal Education has said in the establishment of further Law School, Port Harcourt model must be used. This is not a place where you have a makeshift, where there are buildings before and then you want to adopt it

and create a Law School from it.

This is well designed,” he said.

Wike said the Rivers State government has already provided 80 percent funding for the ongoing construction work at the Dr. Nabo Graham Douglas campus and Certificate of Occupancy had been issued to the Council of Legal Education.

SECURITY ON THEIR MINDS...

Delta State Governor, Senator Ifeanyi Okowa (left), receiving Chief of Naval Staff, Vice Admiral Awwal Gambo, at the Government PHOTO: SYLVESTER IDOWU House, Asaba... yesterday.

BUHARI: NIGERIA'S ECONOMIC OUTLOOK BRIGHT, VIABLE TO ATTRACT FDIS projected at 37.7 index points in November 2021 and 57.6 index points by mid-2022.

Continuing, President Buhari said the nation's economy was being re-engineered and re-positioned to be globally more competitive, favouring business and entrepreneurship to drive growth and development.

According to him: “For us in Nigeria, lessons drawn from the pandemic prompted us to redouble efforts to mitigate its socio-economic effects. Despite prevailing uncertainties, our equitable and sustainable reform initiatives resulted in substantial economic gains and steady recovery.

“I can assure you that our administration is on the right path to achieving multi-sectoral progress.

We have revitalised the economy by increasing investments in capacity building, health, infrastructure, women’s empowerment, climate change, and food security.

“Today, these actions are yielding self-employment, expanding our human resource pool and strengthening our national productivity for sustainable development."

The President assured investors of the country’s willingness to create a win-win at every point.

“I am proud to reiterate our resolve to reduce and ultimately eliminate obstacles to access and retention of FDI. Our investmentfriendly policies are backed by the rule of law, practical security policies and a resilient population.

“Let me finally stress that Nigeria is open for partnership and cooperation. I invite the French business community to take advantage of the vast investment opportunities in Africa’s largest economy.

“As our development partners, rest assured that we will stand together with you throughout our partnership journey to guarantee our mutual interest."

President Buhari told a gathering of French and Nigerian businessmen that the government recognised the nation’s risk profile and decided to re-assess and update the National Security Strategy in 2019.

“The implementation of this multi-sectoral strategy has contributed to the progress we have made in fighting insurgents and terrorists in the north-east of the country.

Working closely with international partners, we are firmly addressing the root causes of crimes, and taking measures to prevent and counter violent extremism,’’ he added.

“As I said at the fifth edition of the Future Investment Initiative Summit in Riyadh, Saudi Arabia, investing in humanity is investing in our collective survival.

“With this in mind, we have incorporated the Public-Private Partnership model into our economic recovery plan, to attract private sector participation in the financing and operations of critical economic and social infrastructure.

This measure is already helping to mitigate COVID-19 triggered capital flight and decline in grant and development financing.

“Also, at the just concluded COP26 in Glasgow, I stressed the link between modern infrastructure and the overall economic development of a nation. Hence, the massive infrastructure expansion programme, we have been executing in various sectors since the beginning of this administration. 1.5 trillion Dollars is the cumulative amount estimated to be spent within a period of ten years from 2015,” the president added.

According to him, his administration has made significant investments in railways, seaports, roads, renewable energy, housing and many others attractive to prospective investors. He said institutions such as the Nigeria Sovereign Investment Authority and the recently created Infrastructure Corporation of Nigeria are run as independent world class institutions to support and facilitate investments in the country.

President Buhari stressed that opportunities in the mining sector had been expanded, with simplified licensing process, extensive investments in transportation of raw materials, equipment and other mining elements by road and by rail.

According to him, to keep the progress in the digital economy, the fastest growing sector in Nigeria in both 2020 and 2021 on track, government recently approved the national policy on Fifth Generation (5G) network.

He said: “Our ultimate goal is to leverage ICT platforms to spur

further investments and create jobs, while diversifying support to other emerging sectors. Already, several foreign investors are taking advantage of our recent ranking as the leading start-up ecosystem in Africa.

“Over a week ago, I launched the eNaira, the electronic version of our national currency. When fully operationalised, this innovation will increase participation in fin-tech within Nigeria, increase efficiency in the banking sector, and boost our capacity to combat illicit flow of funds,’’ he said.

The president said the oil sector was also getting more attention to expand opportunities with the signing of the Petroleum Industry Act (PIA).

“Our plan is to increase Liquefied Natural Gas exports and expand our domestic market. Partnerships in textile and leather processing, tourism, and health sectors are also areas we can explore,’’ he further explained.

The president noted that the agricultural sector, through Anchor Borrowers Programme, provided loans and technical support to small holder farmers, leading to the expansion in the number of rice mills in Nigeria from 10 in 2014 to 40 today.

“The country has also increased the number of active fertilizer blending plants to more than forty-six, from fewer than five in 2014.

"Similarly, we have set aside several million hectares of available arable land for agriculture, and have embarked on the creation of Special Agriculture Processing Zones across the country,” he added.

Speaking further, Emefiele pointed out that headline inflation in the country was also expected to moderate to 15.35 per cent by December 2021 and 14.91 per cent

by February 2022, respectively.

Similarly, he anticipated that core inflation would fall to 13.39 percent in December 2021 from 13.74 per cent in October 2021. “This is due to the favourable impact of the various CBN and government interventions in the agriculture and the real sector, the moderation of supply side constraints and the gradual increase in domestic economic activity, which is expected to keep prices low in

the near-term,” Emefiele told his audience.

He estimated that Nigeria’s external reserves would surpass $42 billion by mid-2022. This, according to the CBN Governor was due to sustained increase in crude oil price, the impact of Eurobond Issuance, and the stable exchange rate condition.

According to Emefiele, the recent launch of the eNaira would improve the conduct of monetary policy in Nigeria, reduce transaction costs and increase financial inclusion in the medium to long term.

“We expect an increase in the availability of credit through the CBN intervention programmes to increase aggregate demand and stimulate growth in key sectors that face credit constraints.

“We expect higher revenue due to stronger revenue administration efforts by the fiscal authorities,” he added.

The CBN Governor reiterated that the take-off of the Dangote refinery and the implementation of the Petroleum Industry Act (PIA) which were expected to expand the fiscal space of government in the medium to long term, would also boost growth.

In addition, Emefiele told the gathering of foreign investors and global political leaders and diplomats that improvement in crude oil prices were expected to provide stability to Nigeria’s external reserves and exchange rate.

As part of efforts to drive the diversification of the Nigerian economy, the CBN said policies had been developed to reduce import of goods that could be produced in the country in order to create employment opportunities for Nigerians, reawaken Nigeria’s manufacturing industry and reposition them for the AFCFTA. He pointed out that prior to the COVID-19 pandemic, the Nigerian economy had been on a positive growth trajectory and had witnessed 12 consecutive quarters of positive growth following the 2016 to 2017 recession, along with significant foreign capital inflows due to improved fundamentals of the economy.

Inflation rate rose to 18.17 per cent in March 2021 from 12.12 per

cent in January 2020, and external reserves declined to about $34.3 billion in May 2021, from nearly $36.7 billion in January 2020.

Also then, market turnover on the Investors and Exporters’ window declined significantly too, from an average of $262.3 million daily in 2019, to about $44 million at the height of COVID-19 in the second quarter of 2020.

“The Nigerian economy rebounded after two quarters of contraction. The economy witnessed growth of 0.11 percent in the fourth quarter of 2020 from -3.62 percent in the third quarter of 2020.

“The non-oil and services sectors were the major contributors to growth in the fourth quarter.

Headline inflation rate decreased to 16.63 percent in September 2021 from 18.17 percent in March 2020 and external reserves grew to nearly $41.5 billion.

“The quick recovery from the recession was due to targeted interventions in the critical sectors of the economy, monetary and exchange rate policies to stabilise exchange rate, the implementation of the Economic Sustainability Plan, and the nationwide improvement in vaccine administration and coverage,” he added.

While noting that the immediate effects of COVID-19 in Nigeria was felt through the loss of means of livelihood for many households during the lockdown, Emefiele highlighted various measures the CBN adopted to support households and firms in the wake of the pandemic.

Some of these included creating a N100 billion target credit facility for affected households and small and medium enterprises through the NIRSAL Microfinance Bank; creating a N100 billion intervention fund in loans to support pharmaceutical companies and healthcare practitioners and to expand and strengthen the capacity of our healthcare institutions; creating a N1 trillion facility in loans to boost local manufacturing and production across critical sectors; and creating a research fund, which was designed to support the development of vaccines in Nigeria.

Highlighting the CBN’s medium term policies to tackle COVID-19, he

listed some of these to include the granting approval of three payment bank licenses which would accelerate the provision of digital financial services by bank and non-bank institutions and reduce the need for paper money; implementation of the Tertiary Institutions Entrepreneurship Scheme (TIES) to promote entrepreneurial activities and foster job creation among Nigerian youths, and supporting the Auto-Gas Conversion Programme of the federal government.

On the other hand, he listed the CBN’s long term policies to tackle COVID-19 to include the establishment of the InfraCo to address the funding challenges in financing the development of critical infrastructure which would act as a catalyst for growth in the medium and the long run while providing reasonable returns to investors.

Others are the planned establishment of the CBN CPP intervention to develop the human capital needed to build capacity in the financial sector.

“Through this program, the CBN will produce a critical mass of well-educated postgraduate degree holders in the fields of Accounting, Banking and Finance, Business Administration and Economics for the financial services industry, and the Nigerian economy as a whole.

“The creation of a Central Bank Digital Currency, or the eNaira, to support post COVID economic growth. The eNaira will increase financial inclusion, improve the conduct of monetary policy, and facilitate low-cost and efficient payments.

“The impact of our policy measures helped to prevent larger GDP contractions in 2020, as projected by analysts. Unfolding developments continue to indicate that the Nigerian economy will achieve strong growth while current inflation trends remain on track towards their desired levels,” he added.

In his presentation, the Founder/ Executive Chairman of the BUA Group, Abdul Samad Rabiu, also called for a three-way partnership between the African private sector, government and finance institutions Continued on page 43

12

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

13

14

T H I S D AY • THURSDAY, NOVEMBER 11, 2021

COMMENT

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

ZUMA AND SOUTH AFRICA’S MUNICIPAL ELECTIONS Okello Oculi writes that the youths are revolting against the prevailing system

S

outh Africans sing and dance at demonstrations and other peaceful events. On leaving prison, Nelson Mandela enjoyed dancing at political events.

On November 4, 2021, women in Soweto dressed in green blouses danced in celebrating their switch of loyalty from the African National Congress to a new party, ActionSA. They danced for the camera behind the SABC reporter; recalling a river of youths dancing in opposition to racist oppressors on the eve of Mandela’s release.

These women had a heroic legacy of supporting a political movement for collective assertion of their hum and political rights from 1912 (when the African National Congress was formed), to 1994 when their access to ballot papers voted in Nelson Mandela elected in a democratic ritual.

Unlike 2021, similar dances and singing in demands for freedom and human dignity would have excited white police into bashing them with batons and bled them with live bullets.

In the run up to the November 1, 2021 election, reporters of SABC NEWS Channel 404, interviewed persons who expressed frustrations at shortages in their constituencies, including: lack of water, roads, sanitation, health clinics, electricity, housing, employment for youths, security from violent gangs, and the failure of local councillors and local bureaucrats to fulfil promises they made during past election campaigns.

When Mandela walked into freedom, it was these material benefits (plus symbolic gratification of seeing a Black man as their leader), that ordinary members of the African National Congress (ANC) longed for.

Critics assert that when Mandela failed to seize back land from white farmers and distribute them to land-hungry black people; grab chunks of the country’s wealth from white folks, and end dreadful slums in Soweto and behind Table Mountain in Cape Town, etc. Mandela could not charm away inequalities of 300 years of brutal racial exploitation.

That failure began the erosion of people’s faith in the ANC. This theme of ANC’S ‘’decline’’ has reached its lowest level under Cyril Ramaphosa’s presidency where in the symbolically resonating Mandela Bay, for example, the party’s support dipped to winning 48 seats each with an infant Democratic Alliance.

The election was contested by a marathon-race crowd of 325 political parties; 95,000 candidates and 1,500 Independent candidates.

The ANC won a clear majority of councilors in 161 municipalities.

Its nearest contenders, the Democratic Alliance, won majorities in

ZUMA HAD SWELLED THE NUMBER OF CHILDREN FROM POOR FAMILIES ATTENDING UNIVERSITY EDUCATION THROUGH A GOVERNMENT SCHOLARSHIP SCHEME. THEY AND THEIR PARENTS ARE UNLIKELY TO ABANDON HIM

a paltry 13; while the radical Economic Freedom Front (EFF) won majorities in 10 municipalities. In a total of 69 municipalities no party won a clear majority, and may have to go into coalitions.

There is a recognition that only ONE-THIRD of registered voters cast votes. Ramaphosa, and most television experts, attributed the loud boycott to ‘’loss of confidence in all political parties’’. What is avoided is the possible effect on the ‘’boycott majority’’ of the seeming collusion between the government and the apex of the Judiciary to disgrace former president, Jacob Zuma, by throwing him into prison; provoking massive looting and arson by poor Blacks.

As a brilliant head of the Intelligence branch of the ANC despite President Piet Botha’s programme of assassinating ANC leaders outside South Africa, Zuma held a symbolic mystique for the vast majority of ANC supporters. He was a student of Nelson Mandela and senior prisoners on Robben Island. For them the judges who rushed him into prison recalled the legacy of Nelson Mandela and co-leaders of the struggle for freedom.

Memories are important in influencing electoral behaviour.

Studies show that tradition of family support by grandparents and older ancestors influence choices of voters in American elections.

The anti-ANC rhetoric in the post-election comments by the white leader of the Democratic Alliance (DA) has echoes of historical bitterness against those who challenged the control of racist governments and their supporters.

The Youth kept away from voting as protest against massive unemployment. Zuma had swelled the number of children from poor families attending university education through a government scholarship scheme. They and their parents are unlikely to abandon him. The white middle class would see them as threats knocking at their gates, and voted for the revival of the Freedom Front, an Afrikaner/Boers tribal party. The Inkhata Freedom Party (IFP) based on Zulu nationalism, grabbed support from the ANC among protesters against the humiliation of their son, Jacob Zuma.

The solid ‘’boycott’’ of ANC was not attracted by the hundreds of smaller parties. They voted for the ANC by stomping their feet at home on solid history of the fight for equality, dignity and freedom. President Ramaphosa told elected councillors to ‘’listen to the communities that they represent’’. He should note that ‘’alliance with foreign and local business interest discredits electoral democracy’’, and may herald a return to gunning down hungry Black African anger.

ANAMBRA STATE IN NIGERIAN POLITICS Anambra 2021 is a pointer to the presidential ballot of 2023, writes Chuks Iloegbunam

A

nambra is one of Nigeria’s 36 states.

In size, it is the second smallest after Lagos, measuring only 4,844 km2. Lagos State is 3,577 km2.

But Kaduna, Kano, Kogi States are 46,053 km2 , 20,131 km2 and 29,833 km2 respectively. Despite its tininess, however, Anambra’s motto of Light Of The Nation is true in many respects. Compared to all other states, Anambra people have shone the brightest in all positive forms of human endeavor – academics, business, politics, sports, etc. Olaudah Equiano, the writer and abolitionist came from Esseke, in Anambra State. So did Dr. Nnamdi Azikiwe, the doyen of Nigerian journalism and the first President of Nigeria who played a pivotal role in the attainment of political independence from Britain in 1960. Chinua Achebe was from Anambra as were countless other notable novelists, including Chukwuemeka Ike, Nkem Nwankwo, Onuorah Nzekwu. Chimamanda Ngozi Adichie is from Anambra.

Nigeria’s first acclaimed millionaire, Sir LouisPhillip Odumegwu Ojukwu, whose son led the war to attain a Biafran Republic, was from Anambra.

Anambra boasts the Onitsha main market, the largest in all of West Africa. Anambra produced Godwin Achebe, the footballer that captained the national soccer side before the civil war and after it.

Emmanuel Ifeajuna, the first Nigeria to win a Commonwealth gold medal was from Anambra. Blessed Cyprian Michael Iwene Tansi was from Anambra.

Philip Emeagwali, the computer wizard, is from Anambra. Francis Cardinal Arinze is from Anambra State. Stephen Osita Osadebe, the extraordinary composer and exponent of Highlife music and about the highest selling Nigerian musician of all time, was from Anambra State.

Year in, year out, Anambra students come out in the top brackets in School Certificate examinations. They make about the greatest number of First Classes in the nation’s degree examinations.

Anambra’s Godian Ezekwe led the Research and Production Unit that sustained blockaded Biafra during the civil war, of which General Chukwuemeka Odumugwu-Ojukwu sang this song of praise in a speech titled Three Incredible Years Of Biafra:

In the three years of the war necessity gave birth to invention. During those three years of heroic bound, we leapt across the great chasm that separates knowledge from know-how. We built rocket, and we designed and built our own delivery systems. We guided our rockets. We guided them far; we guided them accurately.

For three years, blockaded without hope of import, we maintained all our vehicles. The state extracted and refined petrol, individuals refined petrol in their back gardens. We built and maintained our airports, maintained them under heavy bombardment. Despite the heavy bombardment, we recovered so quickly after each raid that we were able to maintain the record for the busiest airport in the continent of Africa.

We spoke to the world through telecommunication system engineered by local ingenuity; the world heard us and spoke back to us! We built armoured cars and tanks. We modified aircraft from trainer to fighters, from passenger aircraft to bombers. In the three years of freedom we had broken the technological barrier. In the three years we became the most civilised, the most technologically advanced Black people on earth.

We spurn nylon yarn; we developed new seeds for food and medicines...

The reader would expect that Anambra people, a people of this distinction, a nation set apart by God, would be left severely alone to choose their own leaders in what is supposedly a democratic dispensation. You would expect them to always submit the very best candidates to contest their elections. Anambra’s gubernatorial ballot was slated for Saturday November 6, 2021. The All Progressive Grand Alliance (APGA) had as its candidate, Professor Chukwuma Charles Soludo, a first-class brain and former Governor of the Central Bank of Nigeria. The Peoples Democratic Party (PDP) presented Mr. Valentine Ozigbo, the immediate past President and CEO of Transnational Corporation of Nigeria (Transcorp), who took a First Class Accounting/Business Administration degree from the University of Nigeria in 2000, and an MSc in Finance with distinction from the Lancaster University, United Kingdom in 2004.

There were 16 other candidates, a good number

of whom had benefitted from substantial education.

Spectacularly, President Muhammadu Buhari’s All Progressives Congress (APC) presented Mr. Emmanuel Nnamdi Uba (mostly known as Andy Uba) to govern Anambra State!

Anambra people were scandalised. How could anyone deploy the blind to lead the fully sighted?

Andy Uba had lived in the United States for over two decades before a chance meeting with Chief Olusegun Obasanjo impelled him to wing his way back to Nigeria. But he hit town without as much as an Ordinary National Diploma (OND) which is, in a manner of speaking, only a halfway house to a first degree. In Anambra and the Igbo country in general, only those not completely together upstairs would abandon the panoply and sumptuous dishes of an Ozo title-taking ceremony for a ritual in propitiation of Agwu – the god of recklessness – that is performed with the sacrificial blind or lame chick.

Well, as they say, the taste of the pudding is in the eating! President Buhari had, weeks earlier, announced in the presence of his party’s grinning candidate that he couldn’t wait to see him elected as Anambra’s Governor! Anambra people knew differently. They remembered that in 2004, a rogue band had abducted Anambra’s Governor Chris Ngige, razed Government House in Awka, the state capital, to the ground and proceeded to incinerate the offices of the electoral commission, the Anambra Broadcasting Service, the state-owned Ikenga Hotel and many other key buildings. They recalled that the perpetrators of those treasonous acts went scandalously unpunished. It was not lost on them that, on account of that atrocious development, Chinua Achebe had rejected the national honour offered him by President Obasanjo, declaiming thus in an October 15, 2004 letter: I write this letter with a very heavy heart. For some time now I have watched events in Nigeria with alarm and dismay. I have watched particularly the chaos in my own state of Anambra where a small clique of renegades, openly boasting its connections in high places, seems determined to turn my homeland into a bankrupt and lawless fiefdom.

I am appalled by the brazenness of this clique and the silence, if not connivance, of the Presidency.

The people knew that the name of the candidate

Abuja was impatient to see inside Government House, Awka, was linked to those described by Achebe as “a small clique of renegades.” Election morning dawned. And polling station after polling station the people resolutely stood their ground.

They refused to forfeit their franchise for a mess of porridge. Each rejected every entreaty to sell their vote for filthy lucre worth no more than a carton of noodles. They obstructed those minded to “abduct” ballot boxes and falsify election results. They said an overwhelming NO to Abuja’s candidate. They voted overwhelmingly for Professor Soludo.

In retrospect, Anambra people could not have acted otherwise. Days before the ballot, there had been an election debate by candidates of the APC, the APGA and the PDP, the three leading political parties. Through the hours of that debate, the APC candidate played the conspicuous spectator; he could barely place what all the statistics being churned out was about. The welter of allusions and citations to international examples on good governance, and the dire consequences inherent on clueless political leadership eluded him. He was a mere passenger, riding wearily in a speeding vehicle headed he knew not where.

The people were not impressed by the man’s promise to connect them to the politics of the Centre, as they found repugnant any alignment to a Centre quaking violently in the cesspit of the corruption of nepotism, state application of brute force and bankrupt and rudderless leadership. They had for far too long been subjected to the spite of the Centre, its endless deceit, its treachery and double standards, to now allow themselves to be bamboozled by the voice of political debauchery and its promises of the meretricious. The so-called Centre and its tentacles harboured the most violent examples of terrorist activities, kidnappings, decaying infrastructure, unpaid salaries and pensions, festering social dislocations and the interminable shedding of innocent blood.

Anambra 2021 is a pointer to the presidential ballot of 2023. If this worthy example of repudiating nonsense is replicated, the much-vaunted Federal Might will prove wholly incapable of keeping in place a nightmare that, to begin with, should have been obviated.

15

T H I S D AY • THURSDAY, NOVEMBER 11, 2021

EDITORIAL AFRICA AND THE GLASGOW CLIMATE SUMMIT For all nations to be on board, the developed countries must fulfil their promises

T

he ongoing 26th Conference of the Parties to the Framework Convention on Climate Change (COP26) in Glasgow, Scotland, United Kingdom, is unlike other conferences. At the sessions which end tomorrow, there have been a sense of urgency for global leaders to move from mere pronouncements to action in dealing with carbon emissions that heat up the earth, causing extreme weather conditions like flooding, drought, and wildfires. There has also been an urge to fast track the implementation of these commitments entrenched in the Paris Agreement to ensure the survival of all humanity. The ultimate goal is to implement the 2015 Paris Agreement, to keep the rise in the global average temperature to well below two degrees above pre-industrial levels while leaders at COP26 settled for 1.5 degrees, as recommended by scientists.

Specifically, the target is to achieve net zero emission of carbon by 2050 with conAFRICA, ESPECIALLY siderable reduction NIGERIA, IS YET TO 2030 to show that ACHIEVE PROGRESS IN by there is identifiable FOSSIL FUEL ENERGY, progression to the LET ALONE DISCUSSING goal. To achieve this, TRANSITION TO countries submitted their nationally GREENER ENERGY determined contributions, that is, what they intend to implement to reduce carbon emission and to ultimately stop the emission by 2050. These actions include stopping the burning of crude oil, coal, and gas to power their factories, and to stop manufacturing vehicles and power plants that use these fuels. The focus is on the use of renewable energy - solar, electric and wind, among others.

However, there are salient issues of equity. There are suspicions by developing countries that this

Letters to the Editor

pledge may not be honoured. The critical point is that the developed world is under pressure to reduce greenhouse gas emissions. This means reducing investment in fossil fuels (crude oil and coal) and speeding up the transition to green energy. But Africa, especially Nigeria, is yet to achieve progress in fossil fuel energy, let alone discussing transition to greener energy.

A

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITOR 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 OGED ENGBE 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

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

PANTAMI AND THE PROFESSORSHIP DEBATE

T

he Federal University of Technology, Owerri chapter of the Academic Staff Union of Universities (ASUU) inaugurated a five-man probe panel on September 22, 2021, to assess the procedures used to appoint the Minister of Communications and Digital Economy, Dr. Isa Ali Pantami, as a Professor of Cybersecurity.

The panel has concluded that due process was followed by the governing council and the management of the university in the appointment. The report by the panel is an interesting one considering the heated public debate generated by the appointment of Pantami as a professor.

Most of the people who criticized the appointment were academics. As expected, the majority of those who supported the critics were Pantami’s political adversaries. The supporters of Pantami’s appointment were either some academics, his political supporters and those who sat on the fence.

The verdict by the five-man probe panel certainly gives Pantami and FUTO some respite. His political supporters will be very happy, while opponents of the appointment, majority of them academics will suck. Tenacious criticism on issues that concern knowledge is an attitude of academics. During the first debate, Pantami’s ‘friend’ Professor Farooq Kperogi said, “There are basically three legitimate ways to become a professor: by climbing the professional ladder in a university; by being appointed to the position from outside academia in recognition of vast and varied industry experience or artistic wizardly in a field; and through a courtesy appointment. Isa Ali Ibrahim Pantami’s record does

ccording to the World Resources Institute, Africa’s per capita emissions of carbon dioxide in the year 2000 were 0.8 metric tonnes per person, compared with a global figure of 3.9 tonnes per person. In fact, the highest emitters in the G20 are responsible for around 80 per cent of global emissions, while Africa’s only 2–3 per cent of the world’s carbon dioxide emissions from energy and industrial sources. This accounts for the strident calls for provision of support to Africa and other developing nations, particularly with the commitment to mobilise $100 billion from developed to developing nations.

The questions therefore are: should there be a transitional provision for African countries or should Africa leapfrog along to greener energy in the hope that we can reap the benefits while being stuck with our dirty fossil fuel dependent economies? Can Nigeria survive without its hydrocarbon dependency? So many questions to ponder, but we suspect our leaders are not even paying attention to what is going on.

There are three things embedded in the discussions at this COP26 that should interest Nigeria and other developing countries: the $100 billion in climate finance, global goal on adaptation, and loss and damage, which are economic and non-economic harms caused by climate change impact that cannot be avoided through adaptation or mitigation.

But much more importantly, for all nations to be on board, the developed countries must come good on their promises.

not qualify him for any.” But Prof. Tukur Sa’ad, a former ViceChancellor countered Kperogi, “A university can decide to appoint an individual to a position either through promotion or straight appointment based on the criteria they set up independent of the National University Commission (NUC)” Pantami’s political allies and supporters will be very pleased with the report of the ASUU panel, because, they see Pantami as a potential vice presidential candidate with many advantages. To all Pantami’s supporters; his professorship is an addition to his credentials which his potential rivals don’t have. They are of the view that Patnami is young, highly educated with a PhD from Robert Gordon University, Aberdeen, United Kingdom. They added thatpolitically, Pantami is a good ‘material’ to balance a presidential ticket. He is from North-East Nigeria. He fits into the agitation for the northeast to present the vice-presidential candidate in 2023. He is a household name in the North-west. They will feel at home with him – he is their cousin. He is an Islamic scholar with a very large cult-like followership nationwide. Pantami is Buhari’s strong confidant and ally. The general belief among Pantami’s promoters is; Pantami from the North-east as vice-presidential candidate with any presidential candidate from the south, especially the southwest, will balance a presidential ticket and serve as a strategy for the APC to retain the presidency in 2023. Nevertheless, academics and opposition against Pantami’s professorship will continue to hit hard while his political rivals will clap for them. Pantami and his supporters should be well-prepared for the game.

Zayyad I. Muhammad, Abuja

WHY CAN’T NIGERIA KEEP THE STREET LIGHT ON?

T

he Portuguese made copious notes about the development in the Benin kingdom; they particularly talked about the lights that lined the streets.

The Portuguese also enunciated the level of development and were thrilled at the maintenance of street light technology in the 1500s.It is shocking that after the British empire we have not just been able to keep our street lights on. In the 1920s after building the Ijora power station the heavily developed Ikoyi areas where the colonialists lived struggled to keep the street lights on. By the 1940s it became a struggle to light most streets in Lagos and that has always been the case. It is sad that with a crude technology the Benin kingdom did better at keeping the lights on.

In Lagos there has been many different schemes to keep the lights on the street but it is problematic. In all fairness they started well, just like the Light Up Lagos project but after six months the project fell apart. Some attributed this to vandals, and management of the lighting system and provision of the electricity to power the bulbs. Even for some reasons the solar panels have not worked, everything just fell apart.

So I ask: why is it so difficult to keep street lights working constantly for a year in Nigeria? What did the ancient Benin kingdom know that we didn’t? Maybe we should learn from our ancestors how to keep the street lights on.

Rufai Oseni, rufaioseni@gmail.com

16

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

17

18

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

SOLUDO INTERVIEW

Soludo: Like Abraham Lincoln, IDeputy Want to Have a Team of Rivals Gov Who Defected to APC Voted APGA in Ihiala LGA My Manifesto Needs Collective Bargain Anambra State governor-elect, Prof. Chukwuma Soludo, had his first interview with ARISE NEWS Channels, few hours after he was declared winner of the gubernatorial election by the Independent National Electoral Commission, where he spoke about his victory, the work ahead of him, and his plan to run an all-inclusive government. Emma Okonji and Nosa Alekhuogie, who monitored the interview, present the excerpts:

Soludo... I'm not coming to learn on the job

A

s governor-elect in the just concluded Anambra election, how significant is this victory, having lost out twice in the past?

To God be the glory. The victory at the polls is of high significance to me and I give God the glory, just as I thank the people of Anambra State for turning out in their numbers to vote for me. As I said in my speech after the Independent National Electoral Commission (INEC) declared me winner, the victory is divine, and it puts me in a divine journey. For 12 years, since the clamour by the people of the state for me to serve them, we have persevered consistently on our focus and mission.

I have served the world and Nigeria in the past, and at this stage of my life, I have been voted by the people to serve the people of my state, and that call was very resounding from about 41 support groups with hundreds of thousands of members. So, I see the victory and call to duty as a divine calling and journey. I am grateful to God and to all the people of Anambra State, including the petty traders selling pepper, crayfish, fish, just like my own mother did, when she was alive. So, for me, I feel greatly humbled by the overwhelming mandate given to me by the people of Anambra State, through the ballot paper.

Despite the hitches that came with the election, people still came out to vote for me massively. For me, the mandate of the people raises the enormousness of the great work ahead of me. I want to use this opportunity to thank the party leaders, and the women, men and youths, who stood their grounds and voted for me. I also extend by gratitude to the Independent National Electoral Commission for conducting a free and fair election, as well as the security agencies that ensured that law and order were maintained all through the election. I want to single out the judiciary and thank them specially for standing firm to uphold the law

all through the election processes. I can only say, to God be the glory.

You are an Economist, Economic Adviser and one time governor of Central Bank of Nigeria (CBN), but as governor-elect, it’s a different ballgame. What significant shift in style, and what kind of transition process should the people expect from you?

You will be hearing more from me on the inauguration day in March next year. If you are asking me to give my Inauguration day address now, that will not happen. For now, what I can tell you is that we have launched our political party manifesto, which is a 72-page document, where we outlined our contract with the people of Anambra State. The document is a pact full of transformation agenda, with which we will continue to build on the foundation laid down by our party elders. We will consolidate on that and also up the game from there, significantly.

We are stronger when we are together and I am looking forward to having a team of rivals like the one put together by Abraham Lincoln, the 16th US President in his book, because I want to run an inclusive government.

I remember the incumbent governor, Willie Obiano, telling the electorate that the person he is supporting to succeed him, will do better than him, and I see that as a rare act of humility and magnanimity on his part.

In the days, weeks and months to come, we will keep our heads down to work on the transition process.

On the day of the inauguration, you will surely hear more from me. As I earlier said in my manifesto, we will begin implementation of the manifesto from day one, because we are not coming to learn on the job, based on our past experience. In terms of our agenda, we will surely hit the road running from day one.

Without waiting till the day of your inauguration speech, could you share some of the priorities of your transition committee?

Well, we have between now and March next year for the committee to plan for the inauguration. The good news about the transition is that it is not going to come from the moon, because we have the experience.

I was the de-facto Minister of National Planning and having managed huge bureaucracies with six parastatals, long before becoming the Central Bank Governor of Nigeria at a time. I have understanding about a few things on how government and institutions work, and the bureaucracy in governance.

Again my governorship will be a continuation of APGA government, so, I expect a very seamless transition process and good governance. We have the institution and the structure in place and so this is a continuation of APGA government. All that will happen will just be a change of baton in leadership.

Just a few tweak here and there, and the train will continue to move.

Recently, there were display of your old school days pictures. Taking memories of those photos, would you ever believe you would get to this

I have also listened to other people's commentaries about it, but the truth is that you don't apologise for excellence. As it were, maybe somebody is confident and some others feel some complex and might just be feeling inferior before me and conclude that I am arrogant. level today?

I had a humble beginning in life, when I was a school boy, and I was brought up by my parents in a very humble way, and in my 30s, I got Doctoral and Professorial Degrees and I travelled widely, consulting for several international institutions in the United States and Europe, before joining the Nigerian government as Chief Economic Adviser, Head of National Planning, and later Governor of Central Bank of Nigeria (CBN).

So, the victory at the polls remains a divine victory, which God Almighty has planned for me and the party.

All of those photographs you saw, were uploaded by me about two years ago and I posted them on our old school WhatsApp platform. So, my old school mates used those photos for my campaign, addressing me as ‘Charlie Nwamgborafor’, which means Charles, the son of Mgborafor. That resonated very emotionally

19

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

SOLUDO INTERVIEW

Obiano Told Me Consistently Since 2016 That I’ll Succeed Him I have also listened to other people's commentaries about it, but the truth is that you don't apologise for excellence. As it were, maybe somebody is confident and some others feel some complex and might just be feeling inferior before me and conclude that I am arrogant.

for me, because the photos traced me to my family.

Though my mother is gone, she touched my life in a very special way.

God has been very kind to me also, and God helped me to accomplish all that I needed to accomplish in life. God has been merciful to me and that is what has been driving me as a person. As a man full of energy, I will continue to serve God with all my strength. All through my school days, God was kind to me. I was a pioneer student of my old secondary school and I became the pioneer senior prefect in class four and class five before leaving for the university, where I became Student Union President.

How would you have felt if you had lost the election. What could have been your reaction?

If I had lost the election, I would not have begrudged anybody, but I would rather have thanked God. In 2010, I was conscripted to run for election in Anambra State, and when I lost that election to the former governor, I congratulated him two hours after INEC declared him winner of the election, and I walked away after the thanksgiving service. Also, in 2013, I was disqualified to contest the election under APGA and I did not leave the party, because of my disqualification, but I remained in the party and still supported the party. My victory at the just concluded election, is divine, and before the election, I prayed to God Almighty to use me according to His will. I will not be overwhelmed by the triumph of my victory at the polls, but will rather look at the enormousness of the greater works ahead of me as governor-elect.

After the swearing-in in March next year, how will you ensure unity between yourself and the other contestants on the one hand, and between yourself and the current governor of the state on the other hand?

Thank you very much for that question. The fact is that my plan is to run an all-inclusive government that will focus on problem solving in order to bring value to the entire people of Anambra State. I will embrace peace and unite the people in order to bring the much needed value to the people of Anambra State.

We have fought political fight and we have gone to court and now is the time for us to come together to build the state. The incumbent governor wanted me to succeed him among all other contestants, and he worked hard to ensure that APGA won the election.

Now that APGA has won, and the governor-elect has emerged, it is time for us to work as a political party and also extend our friendship to other party members in the state, in order to build the state.

I have received calls even before the announcement

by INEC, declaring me winner. The Deputy Governor of the state, who defected to another party at the heat of the election, has also called me to congratulate me on my victory at the polls. He even voted for APGA during the supplementary election in Ihiala local government area on Tuesday. I have also reached out to some of them in the spirit of oneness. I have called Valentine Ozigbo of the Peoples Democratic Party (PDP) and Andy Uba of APC and I also sent them text messages, which they replied. So I have started reaching out to them. I slept at about 4am on Wednesday morning and I had little rest before rushing to attend this interview with ARISE NEWS Channels.

When I looked at my phone before rushing for this interview, I saw over 200 missed calls, but I have not responded to the calls, because of this interview.

So, people have been calling me. I have also made efforts to call my political opponents. There is enough room for everyone to serve in various capacities, so, we need to come together to build our state, and that is the spirit. I persevered after loosing election twice in the state, and I believe this is the right time that God Almighty has planned for me to emerge as winner. Now, is the time for me to serve the people of the state and I see it as a divine journey for me, and I am grateful to God and to all the people of Anambra State, including the judiciary, and President Muhammadu Buhari.

My hand of fellowship is out to reach my political opponents and I will reach out to them to work together to build Anambra State. I have my manifesto on the contract I have with the people of Anambra State, but the execution of the manifesto needs collective bargain. We are stronger when we are together and

Since 2016, the governor has consistently told me he wanted me to succeed him, and that alone will tell you the kind of relationship we have built in the past five years. All these while that he kept saying he wanted me to succeed him, I was touched by one thing, which is the fact that he was concerned about the future success of the state.

Soludo I am looking forward to having a team of rivals like the one put together by Abraham Lincoln, the 16th US President in his book, because I want to run an inclusive government.

My focus is about value, and I will work with anyone that is ready to bring value to Anambra State. Everyone willing to support the state, would be welcomed. It is about bringing value to the people and I will work with those, who will bring value to the people, and turn Anambra State into an industrial hub that we all envisaged. I will reach out to them in the ‘Anambra Spirit’ in order to develop the state together. It is about problem-solving and value adding, and I have started reaching out to them for us to come together as brothers in the Anambra way and style.

In Anambra, we do not play politics of bitterness.

We may fight politically, because of interest, and we can meet in court to challenge ourselves, but after that, we will still come together to build the state of our dreams.

As for the relationship between my governor, Willie Obiano and myself, the relationship is not mechanical but very cordial and sweet and it will continue to be so even after I have been sworn in as governor of the state in March next year. My relationship with the governor was built on deep mutual understanding for one another, and he can attest to it. My relationship with him, has lasted for five years and still counting and we have bonded together and worked together in the last five years of our relationship, and I do not expect anything less going forward.

Since 2016, the governor has consistently told me he wanted me to succeed him, and that alone will tell you the kind of relationship we have built in the past five years. All these while that he kept saying he wanted me to succeed him, I was touched by one thing, which is the fact that he was concerned about the future success of the state. I was touched by his passion for the state and I love him for that.

Going forward, I will expect him to be at the centre in what we do in governance and in APGA as a political party to reckon with.

What are your plans with regards to women and youth representation in your government that will begin next year, given the fact that Governor Obiano had six female commissioners and one of the youngest commissioners in the country, who is a youth at age 30 in his government.

What also are your plans for people leaving with disabilities?

There will not be a dramatic change in women and youth representation in my government, because I will be focusing on problem-solving. If the women and youth show the capacity to deliver, so be it, and I will engage them to deliver on value. Whether someone is a commissioner or not, does not really matter, because my focus will be on problem-solving. If it is all women that will get it done, so be it. When I was Central Bank governor, I gave responsibilities that have to do with trust and integrity to the women as directors of CBN, and they never disappointed me. Anambra has youthful population and I will not discriminate between gender in my administration and above all, my manifesto is a youthful manifesto. Anybody with useful values to offer, would be engaged to do so, and that is my philosophy of life that brought about the ‘Soludo Solution.’

Anambra government respects the intellectual capacity

In the days, weeks and months to come, we will keep our heads down to work on the transition process. On the day of the inauguration, you will surely hear more from me. As I earlier said in my manifesto, we will begin implementation of the manifesto from day one, because we are not coming to learn on the job, based on our past experience. In terms of our agenda, we will surely hit the road running from day one. of women and youths in the state. For instance, 92 per cent of the teachers in the state primary schools are women, and 87 per cent of teachers in secondary schools are women. About 56 per cent of civil servants in the state are also women. We cannot operate without the public sector and the public sector in the state is currently dominated by women. So, we will definitely recognise women and youths in our planned inclusive government, because they already dominate the space we will be working in.

As for the youth, age is not the issue but their capacity to deliver. The youngest commissioner in Governor Obiano’s government, was engaged not because he was the youngest, but because he proved to be the most brilliant among the youths. So, I will engage those that have something good to offer to the growth and development of the state. For example, the man in the village does not care about where the person who will fix the electricity challenges will come from. All he wants is for the community to have good electricity supply. So, that is how government should work to achieve results and that is my belief and mindset about governance.

How are you going to prepare the minds of your family towards your new role as governor-elect and how are you going to address the plight of children, especially, those who visited you to congratulate you on your victory at the polls?

My family and I have been thorough this road before, from being the Chief Economic Adviser, to becoming Head of National Planning, before becoming Governor of Central Bank of Nigeria. While at CBN, we got into banking revolution for the country and at some point, people did not like my position on the baking revolution and my father was first attacked and later my family came under immense security threat, which compelled me to relocate them to the United Kingdom for safety.

That experience did not go down well with my family, so when I declared my interest to run for the governorship election in Anambra State, my family was scared and even advised me to drop

the ambition and to count my many blessings from God, based on my achievement in life. They felt that if I become governor of the state, the family life would come under threat again, but I had to convince them to see my ambition for the good reason to serve the people of Anambra State, who wanted me to lead them. They are already missing my absence and they have been asking me when I will be coming to see them.

For the children that visited to congratulate me, they came in two batches. The first batch was over 1,000 children and after they left, a second batch came visiting. Those children are part of the reason for this journey. When I looked into their eyes, I had a feeling that they were telling me to take care of their future. Many of the children that visited, came from the schools that I adopted. In my own capacity, I adopted schools in my village about 12 years ago and the schools are public primary schools, where I take care of their needs like school uniforms, books, pencils and pens, and the only thing their parents do, is to bring them to school without paying for their upbringing at school.

I was moved by what I saw one day during my usual routine school visitation. On that day I saw a pupil with torn school uniform and his fellow pupils were mocking at him for putting on tattered school uniform and this particular pupil isolated himself from the rest of the pupils. I felt bad and took a decision on that day to adopt the school and to provide two sets of school uniforms for all the pupils in that school, including sports wears, and writing materials. I even employed 15 graduate teachers that I paid monthly to augment the ones employed by government.

I equipped the school’s computer laboratory and powered the computers with solar energy, just to ensure that every child that passed out from that school, was computer literate. The truth is that the difference between the children of the poor and the children of the rich, is opportunity.

When I was growing up, the children of the poor and the children of the rich attended the same school, but today, that has changed. The children of the rich now attend private schools, while the children of the poor attend community schools that are not well-funded, which makes learning very low. My desire is to change all of that and give the children of the poor a sense of belonging in their education.

People perceive you are arrogant, especially, during the political debate in the state, prior to the election. They also have a strong feeling that your words are law when you were governor of Central Bank of Nigeria. How will you manage this situation, as governor-elect?

I have also listened to other people's commentaries about it, but the truth is that you don't apologise for excellence. As it were, maybe somebody is confident and some others feel some complex and might just be feeling inferior before me and conclude that I am arrogant. For me, the political debate we had prior to the election, was part of the political fight. I fight with fact and that is the best thing to do as a politician. I will always state the fact, because that is my brand. I have been in politics, right from my school days and I understand the act of bargaining and politicking. It is wrong for people to think that my words were law when I was CBN Governor, because those I was dealing with were directors, who knew their onion and could not be kicked around. Again I had the President of the country overseeing my activities as CBN governor. So, it was not possible for me to lord it over others. I understand how the public sector works and how to work cordially with people to achieve results.

When will APGA rise to become a regional political party that will win governorship election in other states?

The name of our political party, All Progressives Grand Alliance (APGA), which was registered since 2002, will continue to speak volume of the party’s mission of becoming both regional and national political party. The first election that APGA won was in the South-east, and we will continue to work hard as progressives, to stretch our winning strategies to other states across regions.

20

T H I S D AY ˾THURSDAY NOVEMBER 11, 2021

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com (08114495324 SMS ONLY)

Chukwulobelu: If We Were Not Vigilant, APC Could Have Stolen Our Victory in Anambra NseobongOkon-Ekong holds a conversation with Prof. Osita Solo Chukwulobelu, Secretary to the Anambra State Government and Director-General 2021 APGA Governorship Campaign Committee

T

o what will you credit your victory at the polls?

My understanding of the game is that opposition doesn’t win election. Incumbent lose election. Incumbent lose election if they have not done well in the period before the election. In developed countries, there is what is called the feel good factor . If people do not have the feel good factor. In the UK, if the feel good factor is not there 12 months before the election, the incumbent will lose the election. If they feel that the government of the day is floundering, they will do badly and may not win the election.

That is one.

Two, the character of the party candidate is very important across the globe.

I will give you an example again. The acceptability of the person who holds the ticket is very important too. In 2007, coming to the general election in the UK, the person the Labour Party should have fielded, in terms of popularity within the party was Gordon Brown, but in terms of the general acceptability, the persona and the rest of it, people felt that Tony Blair will do better. The party chose Tony Blair. He won that election and took power from the Conservatives after almost 18 years and subsequently went on to win two other elections.

Three, the incumbent must understand the opposition and see what its weaknesses are. Once you take all these things to mimd, you will see why APGA has done well. This campaign wasn’t the usual type of campaign. When I was appointed the Director General of the APGA Governorship campaign, I actually said I don’t want to be that I have never played politics that well and to some extent the role of Secretary to the State Government is to ensure that government carries on. I initially objected but the governor-elect said you have to do this.

We would like you to supply administrative coordination and think many things through together in terms of how we prosecute this election. Given that, you find that APGA government has done well under the present governor, Chief Willie Obiano in the eight years. The last one year has been challenging, because our road network has suffered. Two, because there is increased insecurity. We needed to be honest to identify where the weaknesses might be and develop a credible explanation.

Governor Obiano concentrated on the airport project and refused to take loans in the last one year. Once that happened, there was bound to be some crowding out effect. Some areas were going to suffer. We acknowledged it, but how do we explain it to Ndi Anambra, so that they can understand without blaming the government? The first thing to do was to stop saying we have the best network of roads, . If we do, they were not in good shape. Countries keep building roads. Americans and Britons are still building roads. The governor-elect has said that he will declare a state of emergency on roads, but we tell our people, look at where the money has gone into and that kind of thing. If you do not want to borrow, there is no new money coming in. Do we need this airport or not? We need it! That is part of the burden of leadership. That had to be explained but we also had to pinpoint to the electorates, that there are federal roads here that our opponents who ought to have done them didn’t do that. We needed to deal with what the electorates should know.

The other part of the challenge is that

Chukwuobelu

leading up to the election, two weeks before the election, there was so much garbage everywhere and I felt Anambra people will not forgive us. They can forgive us for not fixing the roads, but not for not carrying the garbage. It was almost like a task force. I was yelling at people, do want us to lose the election, you must clear this.

We showed that the incumbent government has done well and reminded people of many things he has done. Many community driven projects ; street lighting, making the place safer and the rest of them. People could see that . He has done the airport and international conference centre. He did all these at the expense of the road infrastructure. Roads are things you can quickly fix within one year.

After a while, the electorate was beginning to understand that. Even the opposition said we will forgive Obiano all his sins if he delivers the airport. If he doesn’t deliver the airport, crucify him. There was

that kind of acceptance.

The other thing, like I said, was the candidate. If you make the error of coming up with a candidate that is not generally known and very unpopular, you will struggle to win that election, but if you run with ‘a good market that sells itself,’ choosing Soludo as the candidate was a major factor in winning this election. First of all, you don’t need to introduce him. I remember him coming to my village and my uncle said to him, ‘God will always ess you. I almost lost N18million in Savanah Bank, but for you.’ People could identify with him and relate to his vision and mission. The candidate was a good material. He is very prepared. He has a been saying he wants to create a prosperous and liveable homeland. His programme excites people . He keeps taking people back to the history of the Jews after the Holocaust. They swore that they will build a land of Israel where whoever that is a Jew that is persecuted anywhere in the world

If you make the error of coming up with a candidate that is not generally known and very unpopular, you will struggle to win that election, but if you run with ‘a good market that sells itself,’ choosing Soludo as the candidate was a major factor in winning this election.

First of all, you don’t need to introduce him. I remember him coming to my village and my uncle said to him, ‘God will always ess you. I almost lost N18million in Savanah Bank, but for you.’ People could identify with him and relate to his vision and mission. The candidate was a good material. He is very prepared

can come back to the homeland. That is not what is happening here. Our non land assets are scattered everywhere.

We face persecution here and there; in Lagos, in the North and where have you.

Soludo has promised to build a prosperous homeland that is liveable. You can go and make your money elsewhere, but if you have any reason to come home, you are coming home to a land of opportunity. A land you can live in and be happy. As we kept talking about that message, it resonated with people.

The other thing is that opposition does not win election, it is the incumbent that loses it. What that means is that as incumbent, you know the weaknesses of the opposition. You can use resources to deal with your own weaknesses. There are some quick programmes that you can do. I remember going to Onitsha South and the Governor was so upset about the road, he yelled at the sitting chairman and ordered him to fix the road. That was about two weeks before the election. He took to his heels immediately. As incumbent, you have the resources to make intervention in something that can make you lose the election, but you are praying that you have not done it too late.

Then you look for the weaknesses of the opposition and don’t let up on that. We know the APC is unpopular in the South-east. We know also that its candidate has a past that haunts him.

The debate exposed his emptiness. With that it was very clear to us that we will win this election, but what people don’t know is that we had an internal poll to see where the party stands before the electorates. Our own strategy was to look at all the local governments; using three criteria-green, amber or red. We identified three local governments that were red. Three that were amber and the rest green. Once we did that we had six out of 21, we were already above two-third, but you can never be sure, the margin of error in this kind of thing can be as high as 10 percent. It became very clear that those local government that were amber must turn to green very quickly. Those that were red needed special intervention . We were right .

We knew Nnewi was red. Nnewi North people did not come to that special engagememt we had. Because election was coming too close we did not focus on that anymore. We wrote it off. We knew we will lose it. Ogbaru, we knew was red. We felt we could turn Ogbaru around. We tried. We lost with a few hundred votes. Idemili South was red. The Commissioner for Basic Education who was campaign coordinator, every morning she would wake me up at 4:00am. I realised she needed help. We worked on it and Idemili South became green. So, we knew that we will win this election because of all the stories about rigging and hijacking the results, we worked harder.

What that did was that we were prepared. They almost would have succeeded in my local government, Idemili North, but for the fact that they did not know that we had a central security team that was mobile and quick. They would have done that thing in Abatete.

Without sounding too immodest, in the opposition, we defined APC as the main opposition because of the way they were going about it. The PDP we knew we had quite a challenge there because the young man was seen as a fresh face and there is a power base in Anambra politics, the church, which is more or less, split, quite a substantial number

21

T H I S D AY ˾ THURSDAY NOVEMBER 11, 2021

POLITICS progressives in certain geographical locations. The cock is an NCNC symbol. It is not right to identify APGA only as an Igbo party. The motto of the party, ‘you are your brother sister ’s keeper,’ has a universal application

had moved towards his candidacy, especially given the influence of the former governor (Mr. Peter Obi), but in the debate his inexperience was made obvious. So, we thought we would win between 16 and 18 local governments, but we did far better.

In what ways do you foresee this election shaping the general elections in 2023?

I have witnessed two state House of Assembly and National Assembly elections in 2015 and 2019. The 2015 happened just a few months after we came into office. Some people thought we were neophyte. We did not understand the politics. Many of us who joined Governor Willie Obiano were not professional politicians. Nonetheless, we did quite well in the House of Assembly, but not so well in the National Assembly. The same thing repeated itself in 2019. It began to show that maybe in Anambra, we play two politics. The politics of electing the best for the state as governor and members of the state House of Assembly, but when it comes to the federal legislature , I don’t know if it is a conscious decision of the electorates, something else happens that people who align themselves to the party at the centre are those that are elected. Our politics is almost bifocal as it were. You have the House of Assembly and the governorship where the All Progressives Grand Alliance (APGA) does very well, but when it comes to the Senate and the House of Representatives, we don’t seem to do very well. But this particular election has shown that it won’t be the same in 2023, because you find people who move from one party to another, in search of where they stand a good chance to get the ticket to contest.

This particular election has shown that APGA has solidified its hold on Anambra and must now become the platform for people who really want to do well in elections . The last time in the House of Assembly, we had 24 members out of 30. With the decamping, some have left.

In 2023, if the government that is coming in is as successful as we all think it will be within the one and a half years before the next general election, I am convinced APGA will do by far better than we did in 2015 and 2019. It showed very clearly that this is now the party to beat , with all the defection, the party is still intact.

Despite the victory of your candidate, what mishaps experienced in the election do you think could have been avoided?

Not with this election to be honest with you. We live to learn lessons and we do learn a lot of lessons. In terms of how the election was prosecuted, there is mantra we use in APGA, ‘a rat does not eat the food of one who is awake and watchful. We found that this opposition called APC, if we are not watchful, they will steal this thing. We made sure we blocked every area they could exploit to rig the election. We thank God too that the Independent National Electoral Commission (INEC) came up with the Bimodal Voter Accreditation System (BVAS). It helped too to check rigging.

How do you hope to handle repentant APGA members who may wish to return to the party?

I am not in the party leadership, as it where, but obviously, we think it is better to have an all inclusive system.

And there are children who err and the parents take them back. I can tell you that it is not a case of welcoming them back. What is happening in APGA is that the party is beginning to have a very clear political philosophy, which is one of progressivism, as it were. The way the Governor-elect put it, we are almost like a party that is left of the centre, a social democratic party that understands the role of the liberal market. It also captures the public good. One of the things that distresses me is that people talk about politics of interest. I say, yes, of course, everything is about

Chukwuobelu

interest, but there is a hierarchy of interest. What APGA as a political party is beginning to get people to understand is that, the common good is the most important in that hierarchy. If you are not able to subsume your own personal interest, let the community good come first and rank higher than yours, then you have a problem. Every time I hear, it is about interest and I see that it is personal interest,; all these decamping here and there is all about personal interest. The week before the Deputy Governor decamped to APC, he was saying to people examine your conscience before you vote and make sure you cast your vote according to the dictates of your conscience. When he decamped, I actually felt very surprised that his conscience told him that the best thing for Anambra at this point in its development is to be governed by a candidate of the APC who has a lot of issues from the way he has behaved in the past and, who, as the debate showed is not prepared for governance.

Those who left, if they decide to come back, they must understand that this party is beginning to define itself as a party driven by progressivism ideology and therefore, the general public good,the state interest must rank above their personal interest, which made them in the first instance to leave the party. If they have not reconciled themselves to that it will be very difficult to come back to this party.

To what extent did reverence for the memory of Dim Chukwuemeka Odumegwu-Ojukwu help APGA in the election?

There is what you call a paradox here. Dim Ojukwu was from

Nnewi North, but the party lost Nnewi town. The party is moving towards the progressivism of the old NCNC, which recognises that market mechanism is what you must use to make progress and if you look at what Ojukwu stood for, it is just unfortunate that the way the party developed , you may say that the first time it won was in Igboland, Anambra and Imo and subsequently Rochas left and the party has found a stronghold here.

There is no denying the fact that a lot of the party members look with nostalgia at the role, the late Ikemba played. He was the first leader of the party and its presidential candidate.

You can legitimately see the link in terms of other emotions and the rest of it. I am also saying to you look at what has happened in this election that in his hometown, APGA lost.

You would have thought that we would never lose election there.

There is wider appeal about the party than Ojukwu’s personality.

I think what resonates more is the ‘this is our own philosophy. Any party can claim, ‘this is our own.’

I have said to the leadership of the party that this is a very interesting slogan that you can localise in every state. If you take this slogan to Kano and use Aminu Kano as the front, people can identify with, ‘this is our own.’ If you go to, say, Imo State, you are looking at someone like Sam Mbakwe. You go to a state like Benue, Paul Unongo and the rest of them. You are going round looking for the progressives in these places and people can identify with, ‘this is our own,’ and using them as the rallying point. It has no ethnic connotation , eventhough that has been hijacked that this is an Igbo party, No! It is used to identify the

We considered the APC, the main threat. It is a better strategy to overrate the opposition and therefore prepare than to underrate them. It was better that we took all those things seriously and prepared against them. We had a sitting governor that had done very well, it is just that the road network has challenges here and there, which is explainable. Any government that decided to build that type of airport without going to borrow, some crowding out effect had to happen.

That is inevitable because there is binding resource constraint. You don’t have infinite resources. It means, therefore certain things will suffer

Do you think this victory will inspire APGA to advance and consolidate its presence in other Southeast states?

We have a chance now and our neighbours have seen the progress Anambra has made under Peter Obi and Obiano APGA government. The whole world is excited and wishing Anambra to do even better under Soludo. If a Soludo administration in the next 15 months before the general election and before governorship election in other parts of the country has begun to show what the administration is capable of doing by way of disruptive change that takes the state much higher, success begets many friends. Our neighbour, Imo State will wonder why it is suffering. That will have a snowball effect in even states outside the South-east. Given what Soludo plans, after the next four years of APGA government, the party will become a brand and electorates in other zones will say we want it. Let’s call it, ‘this is our own,’ too and they will use their local heroes as the rallying pint for that cry Why did APGA panic and go public with information that APC had rigged an election that had not even taken place. It turned out that you overrated the APC? It is always better to overrate your opponents than to underrate them. I don’t know if we overrated them. We considered the APC, the main threat.

It is a better strategy to overrate the opposition and therefore prepare than to underrate them. It was better that we took all those things seriously and prepared against them. We had a sitting governor that had done very well, it is just that the road network has challenges here and there, which is explainable.

Any government that decided to build that type of airport without going to borrow, some crowding out effect had to happen. That is inevitable because there is binding resource constraint. You don’t have infinite resources. It means, therefore certain things will suffer. Unfortunately, the rains this year have been too heavy as it were. Roads can be quickly fixed. The Governor-elect has said during the campaigns that he will declare a state of emergency on roads. I believe during the first year of the Soludo administration, a lot of the roads will be fixed What commentary does the result of the election make on the brinkmanship of Governor Willie Obiano?

Governor Obiano must have had some kind of divine inspiration. He has had a long period of time of dealing with Soludo to actually say, this the man I am convinced will succeed me. I think his relationship with Soludo, probably started in 2013. Remember he ran in 2013, but was disqualified. He did not leave the party, but gave Obiano support. In 2017, he gave him a very direct support-if it is not broken, why mend it? I believe that overtime, he must have begun to see something in Soludo that made him feel this is the man Anambra needs after me. This is my first time of seeing an outgoing governor saying to his people this is my chosen successor vote for him because he will surpass me. He is better than me. He has a wider reach, in terms of where he will get the resources. It is a struggle to see any former governor that has made this statement. I am sure he must have been thinking about the state. If he was selfish, Anambra has many billionaires he will take money and hand over to any of them. If Obiano was not thinking of the good of Anambra, he would probably not have chosen Soludo.

He would say why should I support a man who is likely to outshine me. That is why Anambra will continue making progress . This is APGA philosophy.

22

T H I S D AY ˾ ˜ ͯ​ͯ˜ ͰͮͰͯ

FEATURES

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

How FMBN is Accelerating Delivery of Affordable Housing to Nigerians John Mark Ikyaave

S

ince the establishment of the Federal Mortgage Bank of Nigeria (FMBN) in 1992, twenty-nine years ago, as the country's apex mortgage institution, the period from April 2017 to date unarguably ranks as the most noteworthy, productive, and impactful in the Bank's history. The Bank under the leadership of Arc. Ahmed Musa Dangiwa has demonstrated in practical and measurable terms, more than at any other time before, its institutional potential as a strategic and effective catalyst for housing development.

Consider the stellar improvement in disbursing housing loans for a start. FMBN recorded a 98 percent increase in loan disbursement from N152billion in April 2017 to N302.6billion as of June 2021.

This represents additional disbursement of N150billion in housing loans within the past four years at an annual average of over N37billion. This means FMBN nearly doubled the N152billion that previous managements disbursed in 25 years in less than five years! As a wholesale mortgage institution that uses Primary Mortgage Lenders as retail outlets, FMBN's massive injection of liquidity into the housing and mortgage market has helped deepen lenders' financial operations.

The practical results of the additional loan disbursements are evident and proportionate.

First, it has increased access to affordable housing for thousands of the over five million registered contributors to the National Housing Fund (NHF) Scheme.

FMBN created over 5,446 additional affordable mortgage loans valued at about N48.6billion within the period. This has increased FMBN's total mortgage loans from 17,092 in April 2017 to 22,538, representing a 31% increase. Also, FMBN provided N55billion in home renovation loans to over 62,000 NHF contributors to upgrade their homes. As of April 2017, only 2,579 persons had benefitted from the home renovation product.

Second, FMBN deployed over N112billion to record a 51% increase in affordable housing stock development by optimizing its concessionary construction finance loan windows. It is noteworthy that in April 2017, when the Management team took charge of them, the total number of FMBN funded housing units over 25 years stood at 20,435 at an annual average of about 817 units. Since then, due to the additional funding, prudence, and clear direction of Management, FMBN has more than tripled the average number of FMBN funded houses per annum to over 2,600.

As of June 2021, FMBN funded an additional 10,519 affordable housing units.

This takes the total houses built by FMBN since inception from 20,435 to 30,915.

Beyond housing development, FMBN's operations have boosted liquidity in the housing sector. The Bank's injection of over N112billion into the real estate property development market is the heftiest of its kind from a single source within the last four years. FMBN accounts for a substantial portion of mortgage portfolios of Primary Mortgage Banks. As such, the infusion has helped to strengthen their financial positions. Real estate developers have also benefitted from the increased construction financing from the Bank. Since construction work is a source of job creation, the Bank's financing interventions have helped to create thousands of skilled and unskilled jobs.

Innovation and Optimization as Gamechangers FMBN's remarkable performance related to increased housing stock development stems from a refreshing business-driven approach and a commitment to impact from its Management Team. This has led to the execution of bold and innovative housing programs and the optimization of FMBN legacy housing construction windows. \Let's start with the FMBN Mega City Projects. For the first time in FMBN's history, the Bank has undertaken to build over 1,000 housing units on contiguous parcels of land

Arc. Ahmed Musa Dangiwa MD/CEO, FMBN

as FMBN Mega Cities in collaboration with reputable real estate developers.

Before now, less than five percent of FMBN housing estate crossed the 350-700 housing unit threshold. Not one project had up to 1,000 housing units built on a continuous piece of land. The Bank is now investing over N40billion to actualize the FMBN Mega Cities with a combined total of 5,000 affordable housing units. The project is part of the Bank's deliverables under the Federal Government's National Economic Sustainability Plan (NESP).

What is remarkable about the FMBN Mega City project is inclusiveness.

They comprise different categories of housing designs to reflect the income brackets of Nigerians that contribute to the National Housing Fund (NHF) Scheme. The designs range from one to two-bedroom units targeting graduates who just started work, single lowincome families, and three-bedroom detached bungalow and terraces to mixed apartment buildings for medium income earners. The cities are planned to be self-sufficient in infrastructure and have facilities such as schools, churches, mosques, hospitals, and recreational centers.

The concept has already moved from design to site with Brains & Hammers, a reputable real estate developer with a track record of delivering quality houses and infrastructure, to develop the first FMBN Mega-City comprising 1,250-housing units. Work is already moving at a good pace at the project site in Abuja behind MB Abubakar Mopol Barracks, along Kubwa expressway Deidei. The Brains & Hammers FMBN Mega-City comprise two-bedroom terrace bungalow, threebedroom detached bungalows, and mixed apartment buildings.

The FMBN Board has already approved contracts to deliver other planned FMBN Mega Cities under the first phase. Efforts are already at the advanced stages of mobilizing other reputable real estate developers to start work.

Completing these FMBN Mega Cities would mark a new landmark in the Bank's efforts to scale its housing development operations.

More so, the addition of over 5,000 affordable housing units would further increase the availability of affordable housing stock and increase access to homeownership for a more significant number of NHF contributors.

The second creative window FMBN uses to deliver purpose-built houses for NHF contributors is the National Affordable Housing Delivery Project (NAHP). The project is a collaboration between FMBN and the major labor centers in the country comprising the Nigeria Labor Congress; the Trade Union Congress, and the Nigeria Consultative Assembly (NECA). It aims to ensure that workers whose contributions account for the bulk of funds accruing to the National Housing Fund (NHF) Scheme are active participants in the design.

This includes the type of houses, materials used -, project execution, and delivery FMBN funded houses.

To increase affordability, FMBN and the labor centers request free land from State Governments. FMBN then provides construction finance for the projects at concessionary rates to reputable developers to build. Once completed, FMBN packages NHF Mortgage loans for off-takers at single-digit interest rates payable over tenors of up to 30-years.

Under the first phase of the National Affordable Housing Project, which

commenced in 2018, FMBN has delivered 1,400 housing units in fourteen locations across the six geographical regions of the country. Each project site has 100 housing units with house types, including semidetached bungalows and 1-2 and 3 bedrooms in blocks of flats with prices ranging from N3M to N8.5M. Most of the houses have already been subscribed by off takers.

FMBN has already commenced work on the second phase to deliver an additional 2,172 houses in twelve locations across the country. Working with the labor unions, the Bank has already secured project sites of about 10 hectares each from 12 states to site the projects. Each site would have 181 housing units, 81 houses more than the 100 housing units per site in the first phase.

The third FMBN housing construction window driving the increase in housing stock availability is the Cooperative Housing Development Loan (CHDL).

The housing product enables Cooperative Societies with valid land titles to secure finance from FMBN to build affordable housing for their members. FMBN has revamped the legacy product as part of the push to capture Nigerians working in the informal sectors of the economy.

One of the latest of several Cooperative Housing Development Loan projects is the ongoing construction of 264 housing units for eight (8) Cooperative Societies in Idu-Sabo, Life Camp, FCT, Abuja. They include Nine Wall Cooperative Society; NEPA Thrift & Loans Cooperative Society; Institute of Human Virology Multipurpose Cooperative Nigeria; National Board for Arabic and Islamic Multipurpose Cooperative Societies; Elite Minds Cooperative Society Limited; Developing for People of Integrity Multipurpose Cooperative Society; National Social Trust Fund Cooperative Societies; People of Integrity Multipurpose Cooperative Society; National Social Trust Fund Cooperative Society and Federal Staff Hospital Abuja Multipurpose Cooperative Society. Construction work started in July 2020 and has progressed at an impressive pace. The housing project sits on twelve hectares, each of the 33-housing units per Cooperative Society occupying 1.5 hectares.

The changing narrative at the FMBN over the past four years reflects the positive transformation at the FMBN. First is the Management's commitment to sound project design. This includes ensuring the viability of the project in terms of potential off-takers, building houses that fit the income profiles of the potential beneficiaries, and siting projects in areas that are accessible and provision of the relevant infrastructure, including roads, electricity, water, and security.

The development also demonstrates a renewed drive for professionalism in project delivery. The Bank has employed and staffed its branch offices nationwide with qualified built environment professionals, including Architects, quantity surveyors, civil engineers who closely monitor FMBN funded projects in their locations to ensure compliance to agreed building specifications.

Payment for work is strictly on achieving set milestones as signed off by the supervising FMBN built professionals.

While the Bank is working hard to complete old, abandoned projects by previous managements, the Bank is recording faster project initiation and completion levels for all new projects and delivering value to NHF contributors nationwide.

The remarkable operational improvements and performance results show that with a competent management team, a clarity of focus, determination to succeed, commitment to impact, and a productive mindset, a lot is still possible at the FMBN. This much the Arc. Ahmed Musa Dangiwa-led Management Team has proven over the past four years.

They deserve the support of government and housing industry stakeholders to do more. One promising area to start would be for the government to hasten their request for N500billion recapitalization. Time is ticking, the population is expanding, the housing crisis is growing, and the time to act is now. rJohn Mark Ikyaave is a public policy analyst based in Abuja

T H I S D AY ˾ ˜ ͯ​ͯ˜ ͰͮͰͯ

23

#THISISNIGERIA _Chukwumerije Okereke

Key Issues for Africa at COP26

Source: Google

he UN’s COP26, where critical decisions that will shape the future of climate governance will be made, is currently ongoing in Glasgow. As the continent least responsible for, and yet most vulnerable to climate change, African governments cannot afford to be complacent on the need for strong negotiating positions and astute diplomacy in order to get good outcomes from the UN meeting. Of the many negotiation issues that concern Africa, climate finance is of top priority..

We are aware that several months of pressure from climate advocates yielded significant climate finance pledges from world leaders at the recently concluded 76th UN General Assembly (UNGA) in New York. The US President Joe Biden doubled the US government climate finance pledge from $5.7bn to $11.4bn per year by 2024 and promised “a new era of relentless diplomacy” of using the power of America’s development aid to lift people up around the world. Boris Johnson of the United Kingdom (UK) touted his country’s pledge of 11.1 billion pounds made at the UN General Assembly (UNGA) last year and indicated that the UK would be open to increasing its climate finance commitment at COP26. On his part, President Xi Jinping of China promised to end coal finance abroad and indicated that China will instead increase its funding of clean energy around the world.

But while these new financial pledges are commendable, it is important that African leaders are not naïve or ignorant about a host of outstanding issues on climate finance in COP26, the outcome of which can either accelerate or hinder the climate-resilient and sustainable development of Africa.

Here are some of the critical ones:

countries is actually a tiny drop compared to what climate change is costing and will cost developing countries. A study conducted by the UK Department for International Development (DFID), now part of Foreign and Commonwealth Development Office (FCDO), indicates that the cost of climate change to Nigeria was about $100 billion by 2020 and could hit as high as $460 billion per year by 2050.

According to official figures, the 2012 flooding in Nigeria cost the country about $16 billion in direct and indirect damages.

The cost of much bigger subsequent incidents since 2013 have not been calculated. The World Bank calculates that the cost of Cyclone Idai which devastated Malawi, Mozambique and Zimbabwe in 2019 was $2billion. These are just a few examples.

So, while rich countries are still far away from meeting the $100 billion per year goal even with the new pledges, the truth is that the cost of climate change for Africa alone runs into trillions of dollars per year and several times over if one includes the cost of climate change on the rest of the developing countries of the world. So, while the euphoria that greeted the new climate change pledges is understandable, African governments must set their sights on getting rich countries that are responsible for climate change to increase their pledges in COP26.

Furthermore, African leaders must press to see a vast increase in adaptation finance which currently constitutes less than 25% of total climate finance. They should urge other countries to emulate Denmark which has pledged to devote an equal amount of its climate pledge to climate adaptation and mitigation.

1.

The Issue of Adequacy For a long time, rich countries have treated the $100billion climate finance commitment to developing countries as a high mark target, the fulfilment of which will absolve them of their climate justice responsibilities. The reality, however, is that the $100 billion pledged by rich

2.

The Issue of Additionality In the first major text of the United Nations agreement on climate change, signed in 1992, it was agreed that the climate finance which rich countries will provide to Africa and other developing countries around the world should be new and additional to existing Overseas Development Assistance (ODA).

The reason for this decision was that climate change impact and adaptation measures pose incremental costs on the existing burden of development. As such, the UN Convention makes climate action in developing countries conditional on the “adequacy and predictability in the flow of funds” from rich to poor countries. However, despite the clarity of the rules, rich countries have long been repackaging their traditional ODA money as climate finance. There are several instances where funding that would ordinarily support energy, transportation, education, and agricultural development are now rebranded as climate finance and counted as part of rich countries’ steps to meeting their climate finance obligations. This is simply akin to cheating and it is, in fact, a travesty especially given that developed countries have for a very long time been failing to meet the 0.7% of the GDP transfer. It is therefore possible that the whole funding flowing to Africa can actually be far less than the continent could have received in the absence of climate finance. Current accounting and reporting measures are simply so opaque that it is actually hard for anyone to verify exactly how much rich countries are giving as climate finance.

3.

The Energy Security Issue Africa is energy impoverished. The total installed electricity capacity in Africa is 147 GW equivalent to what China installs in one or two years. The whole of Nigeria has an installed capacity equal to that of London Heathrow Airport. Africa needs to increase its capacity by at least 6% per year to stand a chance of meeting universal access by 2050. Unless this gap is closed, Africa will remain a dark and poor continent. The question that arises is whether these new promises of climate finance from rich countries will help to fund energy security in Africa especially when they are most likely to come with tough conditionalities including the defunding of coal, oil and gas investments. It is instructive that while many rich countries are pledging to stop investment in gas in

Africa, many still retain gas as a part of their long-term energy portfolio. It is also telling that China’s pledge to end coal production does not cover domestic coal which accounts for well over 55% of its domestic energy consumption.

African leaders must therefore focus on how to unlock the scale of finance and investment needed to ensure energy security for Africa now and the years to come.

Unless there is a radical change, over 40% of the African population will still be cooking with dirty wood fuel, charcoal and animal dung by 2050. Making finance flows consistent with pathways towards low GHG emissions and climate-resilient development is critical to meeting commitment of the Paris Agreement and the developmental needs of Africa.

4.

External and Internal Transparency A landscape of loosely defined, fragmented, unpredictable and opaque climate finance will not foster the end of climate insolvency in Africa but would rather impose new risks on all. Africa must not only ask for an increase in the overall amount of climate finance but also that a stipulated percentage be devoted specifically to Africa. At the ongoing COP26, Africa should ask for greater transparency and accountability to ensure that rich countries are not robbing traditional ODA to pay their climate finance bills.

Beyond the COP, African leaders must vigorously reject climate finance conditionalities that seek to compromise the energy security of their countries while at the same time showing demonstrable commitment to embrace renewables as the energy of the future. Africa must also invest its resources to develop capabilities in the manufacture and deployment of renewable energy technologies to meet their growing energy demands. They must know that switching from dependence on the importation of fossil fuel from Europe to dependence on Chinese imported solar panels is not a good definition of sustainable green transition for Africa. t1SPG $IVLXVNFSJKF 0LFSFLF JT UIF %JSFDUPS $FOUFS GPS $MJNBUF $IBOHF BOE %FWFMPQNFOU "MFY &LXVFNF 'FEFSBM 6OJWFSTJUZ /EVGV "MJLF /JHFSJB

24

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

T H I S D AY ˾ THURSDAY, NOVEMBER 11, 2021

25

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

N O V E M B E R

S & P INDEX

1 0 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

4%

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

6%

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

NCC to Auction Remaining Three 3.5GHz Spectrum Slots in 24 Months, Says December 13 Sale Remains Sacrosanct

Emma Okonji Having fixed December 13, 2021 for the planned auction of two slots of 3.5GHz spectrum licence that will facilitate 5G rollout in the country by next year, the Nigerian Communications Commission (NCC), has said it will auction the remaining three slots in the next 24 months, when the frequency band must have been cleared and removed from its current custodian, the Nigerian Communications Satellite Limited (NIGCOMSAT).

Director, Public Affairs at NCC,

Dr. Ikechukwu Adinde, dropped the hint during his remarks at the e-Business Life Communication forum on 5G/GSM@20, which held in Lagos recently.

According to Adinde, “NCC has concluded on the auction of the first two slots of 3.5GHz spectrum and December 13 date has been fixed for the auction in Abuja. NCC is also working hard to auction the remaining three slots of the 3.5GHz spectrum, and we are looking at auctioning them in the next 24 months, after the frequency band must have been cleared.”

Adinde who also disclosed that the planned auction of the 3.5GHz would facilitate the rollout of 5G network in Nigeria in 2022, said after the successful rollout by next year, Nigeria would become the second country in Africa after South Africa, to rollout 5G network.

Developed countries that have successfully deployed 5G network include; South Korea, US, UK, Germany, China, Russia, Turkey and Switzerland. Global statistics from Statista, projected that in 2025, South Korea would lead in 5G rollout through mobile phone connectivity

by 59 per cent penetration, followed

by US (50 per cent), Japan (49 per cent), China (28 per cent), Russia (19 per cent), Turkey (14 per cent) and Mexico (12 per cent).

Giving the benefits of 5G networks, Adinde said it would further improve financial transactions on mobile phones, because of its large data capacity and low latency period in completing any tasks.

He said the planned 5G rollout in Nigeria would continue to generate to much interests among telecoms operators and subscribers, because of the unique ‘Machine2Machine’

communication feature of 5G technology, which allows machines to communicate with each other at a very high speed without human interference, unlike other technologies that facilitate ‘Human2Machine’ communication.

NCC had last week, through its Information Memorandum (IM) document, listed the rollout obligations, which mandated operators to roll out service in at least one state in each geo-political zone, including the federal capital territory, in the first two years, starting from the effective date of

the licence, and in additional six states after five years.

NCC had pegged the reserve price for the 3.5GHz spectrum at $197.4 million (N75 billion), for a period of 10 years, but telecoms operators, including GSM Association (GSMA), have disagreed with the reserve price, and have called for a downward review to enable more operators participate in the 3.5GHz auction process, while insisting that the licence period be increased from 10 years to 20 years duration.

Continued on page 26

MAN: Implementation of Excise Duties Will Cost Manufacturers N1.9trn in 3Years Gilbert Ekugbe Manufacturers Association of Nigeria (MAN) has warned that the plan by the federal government to commence collection of excise duty on non-alcoholic drinks would see producers of the items lose up to N1.9trillion in revenue sales between 2022 and 2025.

The Chairman of Fruit Juice Producers branch of MAN, Mr. Fred Chiazor stated while speaking

at the MMS Plus Newspaper Business Discourse tagged, “X-raying the Proposed Excise Duty Regime for Carbonated Beverages in a Recovering Economy.”

Chiazor stated that manufacturers are currently recording as much as 39.5% loss due to imposition of various taxes with concomitant impact on jobs and supply chain businesses.

MAN therefore called for the suspension of the fiscal policy, even as it noted that the proposed

excise duty collection would shrink the sector’s contribution to gross domestic products (GDP), which currently stands 35 per cent.

“Government could lose up to N197billion in Value Added Tax (VAT), EIT fund and Collective Investment Trust (CIT) revenues occasioned by the drop in industry performance, “the MAN representative said.

He argued that the tough economic situation in the nation presently should see the government introduce

fiscal palliatives and tax rebate instead of introducing excise duty collection.

Earlier, the Comptroller-General of Nigeria Customs Service (NCS), Col. Hammed Ali (Rtd) stated that with the wide production and consumption of carbonated non-alcoholic drinks locally, there is a strong indication that it will trigger a significant revenue rise from excise duty when brought under excise control.

Ali, who was represented by the Controller, Lagos Industrial

Command, Comptroller Monica Shaahu, presented a paper titled, “Merits and Demerits of Excise Duty in a COVID-19 Recovering Economy.”

Comptroller Shaahu noted that bringing the carbonated non-alcoholic and alcoholic drinks under excise control will cushion the effects of the overdependence on oil/ import duty revenue occasioned by global economic response to COVID-19.

“Away from the revenue view,

the health and environment hazards presented by the production and consumption of carbonated drinks will be ameliorated bringing them under regulation and control. Excise traders under the new regime are likely to think of exportation to enjoy the duty free delivery incentives from the federal government thereby attract more foreign exchange to the economy.

Continued on page 27

D ATAA SA SATATW W D AY,N OAVUEGM US MM A RAKREKTE TD ATA E DENDENSEDSAY, B TE R1 11,0 2 , 022012 1 ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 10.296 15-AUG-2021 13-NOV-2021 10.301 FGNSB 13.390 16-AUG-2021 14-NOV-2021 11.150 FGNSB 9.091 FGNSB 11-SEP-2021 11-DEC-2021 12.364 FGNSB 13.402 12-SEP-2021 12-DEC-2021 12.175 FGNSB 7.144 FGNSB 10-OCT-2021 15-JAN-2022

BILLS

OTC FX F U T U R E S

100.09 100.06

3.16 3.00

Change Change (%) (%) 0.00 -0.22

100.10 100.11

3.16 3.01

0.00 -0.21

9-Sep-21 NTB 13-Jan-22

3.10 3.68

3.11 -0.07 0.00 3.70

100.67 100.48

3.13 3.34

0.00 -0.15

16-Sep-21 NTB 27-Jan-22

3.15 3.84

3.16 -0.03 0.00 3.87

100.80 100.87

3.12 3.35

0.00 -0.14

30-Sep-21 NTB 10-Feb-22

3.25 4.00

0.00 -0.06

NTB 24-Feb-22 14-Oct-21

3.35 4.16

Price

101.47 100.60

Yield

3.08 3.75

MATURITY

Change(%) (%) Discount Yield Change

26-Aug-21 NTB 25-Nov-21

3.00 3.12

3.00 -0.18 0.00 3.12

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG 24 25 2021 420.93 NGUS NOV

2

SEP 29 2021 422.38 NGUS DEC

3

OCT26 272022 2021 423.83 NGUS JAN

3.26 0.00 0.00 4.04

4

NOV23 242022 2021 425.28 NGUS FEB

3.37 0.03 0.00 4.21

5

DEC 29 NGUS MAR 302021 2022 426.73

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

MREP CP CP XVII XXXI CMBL 13-AUG-21 15-NOV-21 UNCPCP CPIII III1627FSDH AUG-21 NOV-21 VAAG CP XIV I 27-25NBRP AUG-21 NOV-21 TTNGCP CPIA II 31PARP 26AUG-21 NOV-21 SIBP CP 2-SEPPARP CPIIB 2621 NOV-21

9.02 4.92

9.03 4.93

0.00 -0.21

4.26 6.30

4.27 6.31

0.00 -0.21

10.20 5.86

10.25 5.87 0.00 -0.19

4.59 8.60

4.60 8.63

0.00 -0.18

4.13 6.01

4.14 6.03

0.00 -0.18

26

THURSDAY, NOVEMBER 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NOKIA T20 BERTHS IN NIGERIA…

L-R: Mobile Marketing Manager, West Africa, HMD Global, Adetayo Obinaike; Channel Manager, HMD Global, Victor Adeola Odoginyon; General Manager, West, East and Central Africa, HMD Global, Joseph Umunakwe; Managing Director, Sales, TD Africa, Mrs. Gozy Ijogun; Senior Business Manager, West Africa, HMD Global, Emmanuel Ossai and Nokia Business Manager, TD Africa, Oluwadamilare Lawal, during the unveiling of the Nokia T20 mobile tablet at Yudala Heights in Lagos… recently

PwC Advocates Increased Funding to Enable African Countries Offset $2.8trn Transition to Net-zero Emissions Emma Okonji

With an acceleration of the global net-zero emission journey, there is increasing focus on developing countries especially African countries and their lack of affordability to meet such net- zero targets.

Based on this, a report of the PwC Africa Energy Review 2021, has stressed the need for increased international financing from developed nations, to enable African countries meet up with the estimated cost of $2.8 trillion to transit Africa’s current energy base to zero-net emission by 2050.

According to the report, a clear contrast would be evident when considering Africa as home to 17 per cent of the global population, producing less than five per cent of global annual emissions and accounting for only three per cent of global cumulative emissions.

The report however said that among the majority of Africa’s 54 countries, about 35 have made commitments towards net-zero emission, but at an estimated cost of $2.8 trillion just to transit Africa’s current energy base by 2050, notwithstanding that the required investment levels are largely unaffordable to most countries.

The report further said a clear message had been given at COP-26 in Glasgow, through calls for increased international financial support from developed nations.

The PwC review outlined a double challenge for Africa’s energy transition as well as addressing energy poverty, in line with Sustainable Development Goals.

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

What scenarios could play out in Africa’s energy transition and what is the risk of Africa being isolated from global markets and increasingly becoming stranded, including trends and patterns across fossil fuels and renewables, were highlighted in the report.

Analysing the report, PwC Africa Oil and Gas Industry Leader, Pedro Omontuemhen said: “The energy sector in Africa is diverse and characterised by different demands and needs in each country. While the energy journey for each country may be different, an overall perspective

is needed on common issues in the bid to reduce the energy deficit on the continent. While the importance of global decarbonisation and a sustainable planet is foremost, the journey to achieve net zero is clearly highlighting the risk of further entrenching economic winners and losers.”

Highlighting the challenges of a net-zero transition in Africa, the report added that Africa would need to invest an estimated $2.8 trillion in a clean energy mix and reduce its current annual CO2 emissions of 1.62m kilotons of CO2, in order

to achieve net zero by 2050.

The report said investment in low-carbon energy systems in Africa lags global pace, but despite global climate finance commitments from developed economies aimed at $100 billion per annum, the allocation to Africa falls significantly short of what the continent requires to meet global targets.

It added that the fiscal constraints being experienced across Africa, would create a challenge for the continent to move with pace on its net-zero journey. Private partnerships, public-private partnerships (PPPs)

and blended finance are becoming increasingly important and will need to be deployed together with strong public sector governance and innovative financing instruments to overcome these challenges, the report further said.

PwC Director for Energy Strategy and Infrastructure, James Mackay, said: “Ensuring a sustainable planet is not a cost-benefit assessment.

Africa must carefully consider the economic impact of a transition away from fossil fuels and associated revenues in context of the affordable pace of development

and growth of the renewable energy sector. More than a third of African nations are very dependent on fossil fuel commodities for state revenue, foreign currency reserves and local economic activity.

“An unfunded and rapid shutdown of this sector would place significant fiscal strain and hardship on Africa. On the other hand, too slow a transition may see Africa lag global markets and emissions reductions targets.

Developed economies must play an active role in Africa to ensure a global win-win outcome.”

NCC Assures Nigerians on Responsive Regulations for Sustainable Growth of Digital Economy Emma Okonji The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has assured Nigerians of NCC’s commitment towards boosting the nation’s digital economy through responsive regulations.

Danbatta gave this assurance at the commission’s 2021 Annual Cybersecurity conference, organised in collaboration with the Office of the National Security Adviser (ONSA),

which took place at the Transcorp Hilton Hotel, in Abuja recently.

The theme of the event was, “Building Trust in the Digital Economy through Cybersecurity and Sensitization on the Implementation of the National Cybersecurity policy and Strategy (NCPS).”

Danbatta who was represented by the Executive Commissioner, Stakeholder Management at NCC, Adewolu Adeleke, said the commission would continue to be at the forefront of ensuring sound cybersecurity culture built on people,

process and technology to bolster digital economy in Nigeria.

Emphasising the centrality of information sharing with stakeholders, Danbatta urged telecom consumers and the public to take advantage of NCC’s pervasive communications campaign planned to create awareness and sensitise the public about the wiles of cyber criminals.

According to Danbatta, “Our various cybersecurity awareness initiatives and campaigns are helping the public to understand

the risks in digital space and how to reduce the vulnerabilities that adversaries can benefit from. Our collective resolve is to continuously boost trust and confidence in our digital economy by ensuring adherence to sound cybersecurity culture and hygiene, internally and with external partners as well as stakeholders.”

He analysed the increasing dynamics in the digital space by informing the audience that the commission recognises the importance of ensuring and

instituting appropriate cybersecurity measures to derive meaningful gains from the emergent digital economy.

“The growth of digital economies is changing how “trust” is valued by institutions, businesses, and the public.

The increase in technological advancement has also resulted in increase in cybercrimes, as well as identity theft and fake news campaigns that have introduced fresh dimensions that affect the notion of trust in the digital era,” Danbatta said.

FG Urged to Invest in Biotechnology to Strengthen Food Security Emma Okonji The Foreign Agricultural Service of the US Department of Agriculture (USDA) and Nigeria’s National Biotechnology Development Agency (NABDA), including agriculture and biotech experts in Nigeria, have advised the federal government and other African governments to proactively embrace biotechnology in strengthening food and nutrition security on the continent.

They gave the advice at a recent workshop in Abuja, with the theme: “PBR Cowpea (Beans)-A Model

Public Private Partnership (PPP) for Food and Nutrition Security in Nigeria.”

They equally commended the federal government for the introduction of biotech cowpea in Nigeria, which they said, would further strengthen food and nutrition security in Nigeria and the rest of Africa.

In his remarks, Counselor for Agricultural Affairs, US Mission Nigeria, Smith Gerald, noted that advances in agricultural biotechnology would help to improve crop yields.

He noted that the success of the

transgenic bean has added a new crop to the global biotech basket from Africa, adding that Nigeria is championing the crucial role of biotech cowpeas.

“Thousands of farmers across Nigeria who planted the biotech cowpea this planting season, can attest to the multiple benefits they derived compared to prior seasons. The commercialisation of the transgenic bean underscores that extensive safety studies that were conducted to demonstrate that it is safe for both human and livestock consumption,” Gerald said.

He added that the new paradigm of scientific collaboration was due to unprecedented joint efforts and called on biotech and agricultural experts including multilateral entities, governments, the private sector, NGOs and academia, to strategically collaborate to increase the adoption of transgenic crops across Africa with the aim of strengthening food security.

“The workshop was a prime occasion for stakeholders in the biotech space to strengthen innovative partnerships, especially public, private partnerships that will

drive the future of biotechnology in Nigeria. The commercialization of biotech cowpea has become the latest milestone in Nigeria’s robust biosafety regulatory process,” Gerald added.

The Foreign Agricultural Service of the US Mission in Nigeria partnered with National Biotechnology Development Agency (NABDA), African Agricultural Technology Foundation, (AATF), National Biosafety Management Agency (NBMA) and Open Forum on Agricultural Biotechnology in Africa to organise the workshop.

NCC TO AUCTION REMAINING THREE 3.5GHZ SPECTRUM SLOTS IN 24 MONTHS, SAYS DECEMBER 13 SALE REMAINS SACROSANCT Speaking at the e-Business Life Communication forum, with the theme: “Setting the Stage for 5G Journey – Requirements, Deployment and Challenges,” the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, who presented the keynote address, spoke about the successes recorded in the 20 years of GSM evolution in Nigeria, and enumerated the need for 5G technology rollout in the country.

Danbatta who was represented by the Director of Technical Standards and Network Integrity at NCC, Wakil Bako, said before the 5G network

rollout, certain milestones were expected in place and that like other countries that have deployed 5G network, the NCC had already set the stage for 5G rollout in Nigeria.

Tracing the evolution of mobile network from 1G to 4G and now 5G, Danbatta described 5G as new global wireless standard after 1G, 2G, 3G and 4G networks that were designed to connect virtually everyone and everything together.

Danbatta said the new technology would deliver higher multi-GDPs peak data speed at ultra-low latency, more reliable and massive network

capability. He said that consumers should expect higher performance and improved efficiency in user experience and connection to new industries.

Expatiating further on the need for 5G network, Danbatta said it would lead to huge boom in mobile usage, stressing that the huge growth of wireless network equipment and machines with communicationenabled capabilities attest to this fact.

At the panel session, the panelists also called for downward review of the reserve price for the 3.5GHz spectrum, which NCC pegged at

N75 billon.

They called on NCC to consider reducing the price, to enable more participation in the auction process.

Although one of the panelists expressed his feelings, supporting the NCC reserve price, others however called for downward review of the reserve price, insisting that operators need huge sums of money for rollout and facility upgrades after paying the licence fee.

In her welcome address, the Publisher, e-Business Life Communication Limited, Mrs. Ufuoma Emuophedaro, traced

the journey of 20 years of GSM revolution, to the time when the first call on the GSM network in Nigeria was made in 2001.

She said the journey, which led to the historic GSM ‘call’ on August 8, 2021, “began when Digital Mobile Licenses (DMLs) were issued by the Nigerian government, through the NCC in January 2001.”

“I dare to say it has been 20 years of transformation with a lot to be proud of, and so much more to look forward to in Nigeria’s telecommunications story,” Emuophedaro said.

T H I S D AY ˾ THURSDAY, NOVEMBER 11, 2021

27

BUSINESSWORLD

BRANDS

Food Safety Standardisation: Big Win for Nigerian Consumers The crave for quality consumption is as old as the Foods and Drink industry and this has, in many ways given local and global regulatory authorities some edge over the players in the industry in protecting the rights of consumers. Raheem Akingbolu reports.

F

ood safety standard compliance has, for decades, remained an important factor in determining healthy consumption. In recent years, the trend in large-scale food production to cater for the rising global and local populations has necessitated a laser-check on all consumables. Globally, two critical food safety concepts are adopted to forestall needless food safety hazards. The first food safety concept is the Hazard Analysis and Critical Control Points (HACCP), which is a risk-based approach targeted at curbing physical, chemical and biological contamination of foods within the production, packaging and distribution settings. The second concept is the Good Manufacturing Practices (GMP). The GMP approach to food safety standard practices ensures manufacturers of food products adhere to a stipulated set of protocol guidelines at the factory level to deliver packaged food brands that tick all the boxes within the safety and quality consistency standards.

As part of the ways to domesticate the global standard, several international private-owned organisations also provide comprehensive food safety guidelines and certify product brands after conducting strict checks to filter out unsafe production stage practices. These deep food value chains clean up approaches serve as a useful lever for controlling the food manufacturing industry thereby protecting the consumers.

For instance, Crown Flour Mill Limited (CFM), a subsidiary of OLAM, an agribusiness conglomerate, was awarded the Food Safety System Certification (FSSC) 22000 in September 2021. The food safety standard certification highlights the consumer-focused, sustainable food safety and quality philosophy driving CFM’s food production processes and product offerings. Products such as Mama Gold Flour, Crown Premium Pasta and Supreme Semolina, amongst others, have been adjudged to comply with the stringent requirements of the Global Food Safety Initiative (GFSI) and the International Organisation for Standardisation (ISO), which recognize the FSSC 22000.

From any angle one chooses to look at it, catering to the culinary needs of Nigeria’s over 200 million population on a daily basis is a huge task. Meanwhile, the consumption of wheat derivative foods such as bread, semolina, pasta, noodles and biscuits has grown among local households as a result of worsening national headline inflation rate, with latest figure put at 17 per cent.

This negative inflationary trend continues to push the prices of other staple foods upward and out of the reach of a larger percentage of consumers. While the majority of the consumers are most likely to trade down to patronizing unhealthy food options, wheat milling companies such as CFM continue to put in place processes that ensure its food brands are safer,

Survey on public confidence in food safety highly fortified with vital micronutrients as well as made affordable for, and available to, the masses.

The food safety standardization drive of the business, which was validated by Bureau VERITAS, a global leader in food testing, inspection and certification services, at a brief ceremony held at the CFM Ikorodu plant on Thursday, September 2, 2021, heralded another grand recognition, in the same month, that highlighted the active participation of the flour milling firm in the launch of the Micronutrient Fortification Index (MFI) in Nigeria.

Right now, the production plants of CFM in Apapa, Warri, Port Harcourt, and Tin Can have secured international food safety certifications and have obtained full regulatory MANCAP for all their products.

Why is food safety standard regulation critical at this period? It is estimated that 600 million people around the globe consume unsafe foods. The side effects of unsafe consuming practices include the possibility of mental retardation, various illnesses, poverty, and even death.

The World Health Organization (WHO) put

the dietary disorder in proper perspective in an article on food safety on its website: “Access to sufficient amounts of safe and nutritious food is key to sustaining life and promoting good health.

Unsafe food containing harmful bacteria, viruses, parasites or chemical substances can cause more than 200 different diseases – ranging from diarrhea to cancers. Around the world, an estimated 600 million – almost 1 in 10 people – fall ill after eating contaminated food each year, resulting in 420,000 deaths and the loss of 33 million healthy life years (DALYs).”

The organisation posited that ,“in addition to contributing to food and nutrition security, safe food supply also supports national economies, trade and tourism, stimulating sustainable development.”

CFM’s commitment to ensuring consumer satisfaction through the production and distribution of safe and affordable wheat-derivative foods is also driving national productivity by ensuring the active population segment daily has access to healthy food brands that nourish their bodies

while fueling their energy levels to deliver efficiently across all layers of the national economy.

Speaking on the food safety practices of CFM, the Managing Director of the company, Ashish Pande, said, “The FSSC 22000 certification is a demonstration of our sustained commitment to standard and safe practices across our food production processes beginning from how we source raw food materials from a wide network of vendors to how we handle the food processing procedures, and how we go about the food packaging and transportation process across multiple channels.”

According to Pande, “We continue to invest in best food production and fortification technology while consistently auditing our processes to avoid food hazards and risks. These overarching commitments to quality food production procedures enhance consumers’ confidence in our food brands as evidenced by our brand loyalty assessments and positive feedback received in all trade channels. Our customers, therefore, take pride in our food standardization efforts as they keep enjoying our most nourishing and affordable food products.”

Increasingly, there is a focus on customer centricity in the food production and packaging industry. So, creating a positive consumer experience that sets an organization apart from its competitors could not be more critical.

By prioritizing consumer safety and well-being through standardization of its manufacturing processes and investment in novel infrastructure such as the Vitamin Premix, CFM is not only transforming consumer experience, it is driving national productivity.

It is worthy of note that the organization has continued to invest in, contribute to and support the pursuit of Nigeria’s attainment of food security. It truly has remained one of the loudest voices for food systems in Nigeria, advocating new actions to transform how food is produced and consumed through a concerted effort at food safety, quality, and fortification in line with the World Health Organization (WHO), the Food and Agriculture Organization of the United Nations (FAO) as well as the World Food Programme(WFP)’s principal agenda.

Meanwhile, on Saturday, October 16, 2021, the world commemorated another edition of the World Food Day (WFD), with the theme “Our actions are our future – Better production, better nutrition, a better environment and a better life”. The WFD coincides with the commemoration of the number one staple food of the masses, the World Bread Day (WBD).

Consequently, it presented the nation an avenue to examine and reflect on the current realities and living conditions of millions of Nigerians, especially those at the bottom of the pyramid and glean opportunities on how it can improve their access to affordable, nutritious and safe foods.

Aiteo Replaces Ukegbu, Appoints Useh New COO Emmanuel Addeh in Abuja Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the Nigerian National Petroleum Corporation/Aiteo Joint Venture (JV) on Oil Mining Licence (OML) 29 yesterday announced the appointment of Mr. Ewariezi Useh as its new Chief Operations Officer (COO).

The company in statement said Useh will provide overall technical guidance to oil and gas exploration, production development, health,

safety, security, and environmental activities of the group’s upstream business.

According to Aiteo, Useh assumes the position with a wealth of expertise spanning over 26 years from various areas of the oil and gas industry.

According to the indigenous oil firm, these experiences range from oil and commodities trading (crude oil, derivatives and refined products), supply and distribution, petroleum retailing, shipping to jetty and terminal operations, as well as

depot and project management.

The statement said that Useh joined Aiteo group in 2013 and until the latest appointment, served as the group managing director, Aiteo downstream, overseeing the entire downstream business of the group.

Aiteo stated that Useh had been responsible for the effective running of the downstream companies (Aiteo Energy Resources Limited and Avidor Oil & Gas Company).

Prior to joining the Aiteo group, the statement added that he was general manager, operations, African

Petroleum Plc (now Ardova Plc.) up until 2010, where he oversaw the operations and growth of the company nationwide by strategically enhancing its growth and performance in the petroleum retail sector.

“Useh is a graduate of chemical engineering from the University of Benin (UNIBEN). He holds a Master of Business Administration (MBA) from the IESE Business School, University of Nevarra, Barcelona, Spain.

“He has trained at the College

of Petroleum Studies, Oxford; IESE Business School Barcelona, Wharton Business School, Pennsylvania USA, amongst others,” it stressed.

Added to that, the statement said that Useh is an alumnus of the Lagos Business School (LBS); a member of the Nigerian Society of Engineers (NSE), Nigerian Society of Chemical Engineers (NSCE), the Energy Institute, London and also a registered member of the Council for the Regulation of Engineering in Nigeria (COREN).

“Useh replaces the erstwhile

Chief Operations Officer, Emmanuel Ukegbu, who retired from the company,” the statement concluded.

for one year as part of efforts to support their businesses amid the global fiscal challenges.

Earlier, the Executive Secretary of Nigerian Shippers’ Council (NSC), Emmanuel Jime stated that the new excise duty regime wouldn’t affect Nigeria’s competitiveness with the African Continental Free Trade Agreement (AfCFTA).

Jime, who was represented by the Council’s Director of Consumer Affairs, Cajetan Agu, encouraged industry stakeholders to be more

concerned about other logistics infrastructure challenge that puts Nigeria in a disadvantageous position for the regional trade.

“AfCFTA is a rule-based market.

Instead of focusing on the issue of local taxes, we should on Nigeria’s area of advantage. What’s the level of automation at Nigerian ports?

Are there scanners Nigeria isn’t connected to other nations via rail?

Is there a sound logistics platform in the country to support AfCFTA?, “he queried.

Useh

MAN: IMPLEMENTATION OF EXCISE DUTIES WILL COST MANUFACTURERS N1.9TRN IN 3 YEARS “Given the lesson learnt from the impact of covid 19 and its effects; many nations of the world have restrategized their economical system in a more diversified way to achieve a robust, stable and prosperous economy with a long term benefit.

Hence; bringing carbonated drinks under Excise control this time will raise government revenue, reduce health hazards and align Nigeria with harmonization of the ECOWAS member - states. For instance; Coca Cola the largest conglomerate, which

produces carbonated drinks pay Excise Duty in other host countries apart from nigeria. This is unhealthy economy advantage for their products coming from other nearby countries, “she said.

On his part, the President of Water Producers Association of Nigeria (WAPAN), Mr. Mackson Odiri Egberi argued that the move to collect excise duty on water would see the product go beyond the reach of the ordinary citizens.

Mackson argued that the

chemicals used by water producers as well as the sachets are imported and subjected to import duty payments, lamenting that excise duty collection would be an additional burden on producers that would force them to shut down or compromise on their standards.

A member of the Nigerian Economic Summit Group (NESG), Dr. Ikenna Nwosu advised that the initiative be shelved for a minimum of one year to allow for robust discourse with industry

stakeholders on the possible gains and shortcomings of the policy.

Nwosu posited that the one-year waiting period would also enable the nation’s economy, especially its manufacturers recover from the debilitating effects of the COVID-19 pandemic.

He argued that most global economic bodies including the International Monetary Fund (IMF) and World Trade Organization (WTO) have been advising governments to suspend taxes

28

T H I S D AY ˾ THURSDAY, NOVEMBER 11, 2021

BUSINESSWORLD

DEVELOPMENT

Placing Gender on the Front Burner of Climate Change Action There is a commitment from member countries at the ongoing Climate Change Conference (COP26) to promote gender-responsiveness programmes in climate change related activities.

Ugo Aliogo reports from Glasgow, Scotland

C

limate change has become one of the most defining policy issues of the 21st century. From changing weather patterns that threaten food security, to rising sea levels, that increase the risk of catastrophic flooding as well as increase in atmospheric temperature that results in global warming, the impacts of climate change are global in scope. The United Nations Framework Convention on Climate Change (UNFCCC) recognizes adaptation as a critical option that countries should pursue to reduce the impact of change.

Speaking during a presentation of the Nigeria’s Adaptation Communication to the United Nations Framework Convention on Climate Change (UNFCCC) report in Glasgow Scotland, the Minister for State, Federal Ministry of Environment, Sharon Ikeazor, said the Adaptation Communication (ADCOM) established by article 7, paragraphs 10 and 11, of the Paris Agreement requires parties to submit and update periodically its ADCOM. She also noted that ADCOM would increase visibility and profile of adaptation alongside its balance with mitigation, strengthen adaptation action and support for developing countries, provide input to the global stock take, assess progress, “made in achieving the Global Goal on Adaptation (GGA) and enhance learning and understanding of adaptation needs and actions.”

She added, “It has been recognized that women and men are disproportionately affected by climate change and usually, women are more impacted than men. However, the federal government is expanding on its Implementation Strategy for their National Gender and Climate Action Plan.”

Ikeazor noted that women are more vulnerable to the effects of climate change than men primarily as they constitute the majority of the world poor.

Meanwhile, a recent report by Women Watch (2009) and FAO (2011) revealed that about 70 per cent of the people who live on less than $1 per day and are highly dependent for their livelihood on natural resources are women and therefore more threatened by climate change.

Another report by the Nigerian Environmental Study Action Team (NEST) affirmed that women experience and/or react to climate change differently from men. The report stated that increased pests and diseases due to climate change can increase women’s workload as they have more responsibility for caring for their families and the sick.

According to the report, “Gender element in climate change and adaptation refers to how climate change affects men and women in different ways; how men and women respond to and cope with the changing climate and the differences in shifting from short-term coping strategies to resilience. It is a known fact that climate change worsens the existing gender inequality, making women face higher negative impacts than men.

However, women are not just mere victims but active agents of change. Furthermore, they possess the knowledge and skills that relevant authorities can utilize for climate change adaption and the development of resilience.”

Recently, the United Kingdom Government announced the donation of £165 million as part of its commitment to tackle climate change. The fund is expected to address inequalities that make women and girls more vulnerable to climate change and empowering them to take climate action.

They noted that around the world, the UN had found that women were more vulnerable to the effects of climate change than men, because they constitute a large majority of the world’s poor and often depend on small-scale farming for a livelihood, which is particularly vulnerable to climate change.

They affirmed that women and children could comprise 80 percent of those displaced by climate-related disaster.

But it noted that addressing gender inequality had also been proven to advance efforts to tackle climate change.

It would be recalled that in 2017, Nigeria adopted the International Gender Action Plan by the United Nations Framework Convention on Climate Change (UNFCCC) and in 2020, the country developed its National Action Plan on Gender and Climate Change, with the main goal of the plan being to ensure that national climate change efforts in Nigeria mainstream gender

considerations to guarantee the inclusivity of all demographics in the formulation and implementation of climate change initiatives, programs and policies.

However, an implementation strategy was developed in 2021 with UK support, which set out how gender action should be implemented under five climate change priority areas namely: agriculture, forestry and land use; food security and health; energy and transport; waste management; water and Sanitation.

Other national climate plans on adaptation and mitigation including Nigeria’s revised Nationally Determined Contribution (NDC) and its recently published Adaptation Communication highlighted measures to enhance gender integration in climate change policies and actions.

“It is women, girls and those who are already most marginalised, that will be most severely impacted by climate change. But they also have a critical role to play to address the climate crisis.

“The UK is committed to addressing this dual challenge head on, committing new funding to empower communities and women’s groups to take locally-led adaptation action, to build local, national and global resilience. I urge more countries to make commitments to implement the UNFCCC Gender Action Plan and deliver the goals

of the Feminist Action for Climate Justice, “the government said.

The British High Commissioner to Nigeria, Catriona Laing said: “Climate change has led to the preventable loss of lives through actions that are insufficient or delayed, rolling back women’s economic gains of past decades. Aligning resources and responses, and taking deliberate action will provide us an opportunity to improve livelihoods of women, create a sustainable economic future and better protect the planet.

“Throughout the UK’s COP26 Presidency, we are encouraging countries around the world to put gender equality at the heart of climate action. I am pleased that Nigeria is engaged on this agenda and is putting gender considerations at the core of national climate and development plans.”

THE UN ANGLE

Meanwhile, the COP26 President Alok Sharma and UK International Champion on Adaptation and Resilience for the COP26 Presidency, Anne-Marie Trevelyan hosted the UK’s Presidency Gender Day event accompanied by Little Amal, the 3.5 metre puppet travelling 8,000km in support of refugees, and Brianna Fruean, a Samoan Climate Change activist.

She espoused that women and girls are disproportionately impacted by climate change,

adding that they cannot allow equality to be a casualty of climate.

She expressed delight that women and girls are also leading efforts to tackle climate change in communities around the world.

According to her, “We must enable the full and meaningful participation of women and girls in climate action. So, I am very pleased to say that countries and other stakeholders have made announcements today to make climate action gender-responsive.

“I am also very pleased to report that yesterday countries collectively pledged in excess of $232 million to the Adaptation Fund, which will support countries to deal with the impact of a changing climate.

“Gender and inclusivity run throughout our COP Programme, including Science and Innovation Day. And I have always said it is vital that we follow the facts, and allow science to light the way. I’m going to turn now to the negotiations.

I am encouraged by countries’ commitments to anchoring science at the heart of the Cover Decision.

“Yesterday, my lead negotiator Archie Young convened Heads of Delegations on the elements of the Cover Decision, that we proposed in our Non-Paper. As I announced at the informal stocktaking plenary yesterday, I have requested pairings of Ministers to support the Presidency in some of the key outstanding issues on which we need to reach agreement. These Pairs started their work yesterday and are consulting with a wide group of ministers and negotiators. And then we convened yesterday evening and the Ministerial pairs reported on their discussions.

“The time has now come to find political consensus on the areas of divergence. and we have only a few days left. New texts were also tabled on issues including common timeframes, transparency, finance and adaptation. We are making progress at COP26 but we still have a mountain to climb over the next few days.

And what has been collectively committed to goes some way, but certainly not all the way, to keeping 1.5C within reach.

“The gap in ambition has narrowed. Now the world needs confidence that we will shift immediately into implementation, that the pledges made here will be delivered, and that the policies and investment will swiftly follow. We have an opportunity to succeed. The transition to a resilient zero carbon economy is technologically possible, it is economically attractive and it is accelerating everywhere. And if we successfully manage this will deliver immense benefits for the world.

“Building on existing mechanisms; transparency and accountability must be at the heart of these commitments. So overnight the Presidency will publish the first draft of the Cover Decision. It will likely require negotiating teams to consult their leaders and capitals. We have an urgency to our negotiations so I ask Ministers and negotiators to carry out these consultations expeditiously.”

GENDER COMMITMENTS AT COP26

There is a commitment from the US government to commit new funding for gender-responsive climate programming which includes $14 million of the Gender Equity and Equality Action Fund to advance women and girls’ leadership in climate action and participation in green industries, while building their climate resilience, and $3 million investment to support women farmers in East Africa to adapt to climate impacts.

The government of Norway has also committed to strengthening the role and impact of women and girls in both international and national climate decision-making, including in UNFCCCprocesses and in national decision-making on climate policies. Canadian government is set to ensure that 80 percent of its $5.3 billion climate investments over the next five years target gender equality outcomes.

Similarly, Sierra Leone is committing to address long-standing discriminatory land tenure practices, which deny women access to and control of land through enacting a range of new legislation.

There is a call to action from The Rallying Cry, urging the finance community to further invest in the women business leaders and enterprises at the heart of the transformation the world needs.

29

T H I S D AY ˾ THURSDAY, NOVEMBER 11, 2021

BUSINESSWORLD

NEWS

Nigeria Re-affirms Commitment to Sendai Disaster Risk Reduction Framework Gilbert Ekugbe The federal government has reiterated its commitment to the implementation of the Sendai Framework for Disaster Risk Reduction of 2015-2021.

The Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Umar Farouq made this known at the COP26 side event and panel discussion on Nigeria’s Climate Change Adaptation Efforts in Humanitarian and Disaster Risk Reduction Contexts held in Glasgow, Scotland.

In her presentation which focused on Nigeria’s efforts in addressing the humanitarian consequences of Climate Change, Umar Farouq highlighted the current situation in Nigeria to bring to the fore, the vulnerability of Nigerians as well as efforts being made to promote climate change adaptation and build resilience in the communities.

“To respond to flooding, we are now using an integrated flood management approach, where we understand vulnerabilities and leverage and manage flood waters to channel it for dry season agriculture and electricity generation. In collaboration with all necessary stakeholders, the Ministry has developed a National Flood Emergency Preparedness and Response Plan. The purpose of the plan is to provide relevant information and outline response arrangements in place for a coordinated inter-ministerial multi-agency response to major flooding incidents. There is a lot of

Firm Launches App to Ease Interstate Travel Challenges Kasim Sumaina in Abuja In an attempt to ease commuters interstate traveling challenges within the nation, an indigenous transportation firm, Treepz Nigeria Limited has launched a management software for booking system.

Treepz also said that it has commenced the process of digitalising road transportation system, following its successful take-off in 21 major cities in Nigeria.

Chief Executive Officer, Treepz Nigeria Limited, Mr. Onyeka Akumah, noted that the organisation would provide options for over 20 million people who travel daily (interstate) to purchase tickets from safe and reliable bus operators within the app.

According to him, the dream was borne out of the need to leverage on technology value chain to ease the road transportation burden often experienced by Nigerians.

He said: “Treepz, formerly known as Plentywaka, is Nigeria’s first and largest bus aggregator network. We boast of over 50 million brand reach, including eyes from the international audience.”

Akumah further said, “clearly knew that the major transportation companies were looking at digitilising our transportation sector. One of the key things we chose to do is to work with the Ministry of Transportation to see how bus operators could use us as a technology partner. Treepz should be one of those to consider before looking externally, and we aim to build the infrastructure that will support the transportation sector.

“Now we work with the National Union of Road Transport Workers team, state-owned Ministries of Transportation amongst others.

Every city we launched, we have clear cut relationships with individuals or parastatals, to make sure that everyone understands what we are here for and everybody appreciates the value of this.”

Aware of the security challenges currently bedeviling the country, Akumah hinted that the company is working in collaboration with top agencies to protect lives in the course

emphasis on risk reduction as well as prevention and mitigation strategies, and once it is operationalized, local communities will be more involved in flood management: from adhering to early warnings and forecasts for flood, to building better infrastructure.

“This climate crises must be addressed as it is snowballing into a humanitarian crises; not only for Nigeria but the entire world. Therefore, the Ministry of Humanitarian Affairs, its Agencies and partners are mainstreaming climate

change adaptation and conducting vulnerability assessment to reduce risks. We, as the majorstakeholders in this race, are compelled to offer risk reduction mechanisms, social protection systems and humanitarian interventions to protect vulnerable persons from the consequence of climate change, ”she said.

The Minister also noted that Nigeria is experiencing more hydro-meteorological events such as flooding, windstorm, drought, coastal and gully erosions amongst others,

which have led to huge economic losses and unavoidable deaths.

“Rainfall patterns have changed and we are seeing more communities in local governments becoming highly probable flood risk areas. Through the National Emergency Management Agency (NEMA) we also carry out climate change adaptation projects that focus on state and communal levels. We are also promoting research and education through universities in Nigeria. Some impactful activities

are the public sensitization activities as well as the reports gathered by NEMA using DesInventar information management system for monitoring and reporting climate related hazards.

“We recently completed a risk analysis and vulnerability assessment in Nigeria, in three prevalent categories of hazards: floods, endemics, and conflicts.

These findings will help us plan and further develop climate change adaption programs in the vulnerable areas identified. To implement this,

we are building partnerships and strengthening the capacities of disaster risk management agencies at local and State levels for implementation adaptation.

“I will like to use this opportunity to reiterate Nigeria’s commitment to the implementation of Sendai Framework for Disaster Risk Reduction (2015-2030) and thank the UNFCCC and the Ministry of Environment for facilitating this platform at COP26,” Umar Farouq concluded.

NCC Awards N20m Grant to Four Startups to Boost Local Content Emma Okonji The Nigerian Communications Commission (NCC) has awarded N20 million grant to four Nigerian tech startups in furtherance of its commitment to encourage development of new indigenous technologies and contents, that are oriented in cutting-edge research to stimulate sustainable economic growth.

The four tech startups are:

Clearflow System Hub, Aelaus Engineering Teams/Hyech Electronics Solutions, Kalibotics, and CyberNorth Tech. They emerged winners of Virtual NCC Internet of Things (IoT) Code Camp and Hackathon 2021, and they received N5 million each on their innovative technology solutions aimed at making life better for Nigerians.

While the first two startups, Clearflow System Hub; and Aelaus Engineering Teams/Hyech Electronics

Solutions, emerged winners on IoT category on kidnapping and banditry, Kalibotics and CyberNorth Tech, emerged winners on assistive robotics for effective e-waste management solutions. The grant was for the novel digital solutions of four startups, aimed at finding innovative digital solutions in addressing the challenges of insecurity and to stem the growth in national e-waste rates, while advancing the frontier of Internet of Things (IoT) in Nigeria.

Speaking at the prize-giving ceremony held at the commission’s headquarters, in Abuja recently, Director, New Media and Information Security at NCC, Dr. Haru Alhassan, who delivered a speech at the event, on behalf of the Executive Vice Chairman of NCC, Prof. Umar Danbatta, said the commission, as a frontline driver of innovation in Information and Communications Technology (ICT) industry, organized the second edition of the NCC

Hackathon with a view to driving the creation of problem-solving tech innovations. Danbatta said that the initiative was in line with the objectives of the Nigerian Economic Sustainability Plan (NESP) 2020, NCC’s Strategic Vision Plan (SVP) 2021-2025, Executive Order 5 of 2017, and Section 1 (f) of the Nigerian Communications Act (NCA), 2003 which focuse on promotion of Nigerian content in contracts, science, engineering and technology.

30

THURSDAY, NOVEMBER 11, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Abalunam: African Online, Deliveries Market Largely Untapped Glovo Launcher for Nigeria, Adanma Abalunam speaks on the company’s entrance into the Nigerian market, its service offerings as well as its expansion plans within the country. Emma Okonji presents the excerpts: and then grow from there. We select markets where we see that not only is there unserviced demand but where there is also huge potential to grow.

Glovo has established its presence in Nigeria and some other African countries to explore the e-commerce market. What is your motivation and experience about the Nigerian e-commerce market? lovo has established its presence in Nigeria and some other African countries to explore the e-commerce market. What is your motivation and experience about the Nigerian e-commerce market?

The e-commerce sector in Nigeria is one of the fastest-growing sectors of the economy, which is strengthened by the growing population, consumer power, and technological innovation.

For Glovo, the multi-category delivery app has recognised the unique opportunity in Africa and has established its presence in Nigeria, Morocco, Uganda, Kenya, Ghana, and Côte d’Ivoire, in order to meet the rising demand for online shopping and deliveries in these markets.

G

Briefly tell us about Glovo, especially around the uniqueness of the app, its service delivery, and offerings for users in Nigeria?

Glovo is a pioneering multi-category delivery app and one of the world’s leading delivery platforms aimed at delivering anything to anyone in less than 45 minutes. At Glovo, we offer a variety of products and services to users by partnering with a wide range of companies, so our users can access products including food, groceries, and pharmaceutical products.

Since 2018 when Glovo entered Africa, how have people reacted out to the brand, and what progress have you recorded across

As the largest city in Africa, in terms of population size, how does Glovo plan to leverage the thriving delivery market in Lagos, Nigeria’s economic and commercial hub?

The delivery market is growing as companies and entrepreneurs observe the challenges of congestion in Lagos. Glovo is partnering with dynamic, fast-growing companies such as Rapiid GMC Logistics, to build our fleet and meet the growing demand within Nigeria so that we can expand our service area.

Abalunam

the African markets?

The response to the brand has been very positive. For users, we know that reliability and short delivery times are key and we have set ourselves the target of delivering in under 45 minutes in Nigeria to keep user satisfaction high. Although we have only recently launched in Nigeria, about 40 per cent of demand is coming from areas outside of our current serving areas, so we are already looking forward to expanding to those areas and bringing our service to

even more users.

With a strong presence in 23 countries, what essentially drives Glovo’s market expansion strategy globally and Africa in particular?

Our market expansion strategy is driven by our belief that there is a lot of untapped potential in the e-commerce space across African countries. This is especially true in Africa, where smartphone penetration is projected to double between 2020 and 2025

What are the prospects for the growth of Glovo’s business in Nigeria and what plans are there for expansion into other cities across the country?

We see great growth prospects in Nigeria, and our current user base is growing above 50 per cent week over week. Less than a month since the launch, we are operating in relatively small areas on the mainland in Ikeja, Yaba, and Surulere and on the Island between Lagos Island and Lekki 4th roundabout. We are seeing incredible demand with 40 per cent of our users downloading the app outside those areas, so the immediate priority is to optimise the platform for those in our service area and expand the service area to meet the demands of new customers. We are discussing where we might expand to next, and expect Abuja, Port Harcourt, and Ibadan to be our next cities, but these decisions will be informed by trends in demand for our services and the commercial and regulatory conditions in new Nigerian markets.

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

31

32

T H I S D AY ˾ , NOVEMBER 11, 2021

HEALTH & LIFESTYLE

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

COP26: Committing to Develop Climate-smart Healthcare Systems In response to the growing evidence of the impact of climate change on people’s health, a group of 50 countries including Nigeria and the UK recently committed to develop climate-resilient and low-carbon health systems at the ongoing UN Climate Change Conference in Glasgow, Scotland, Chiemelie Ezeobi reports

I

Arab Emirates said the “Ministry of Health and Prevention, in partnership with WHO, launched a comprehensive, multisectoral National Framework for Action on Climate Change and Health to develop sector-specific adaptation plan. UAE is also working towards reducing emissions and developing an action plan for a low-carbon health system.”

Also, Dr. Samir Kumar Adhikari, Chief of Multisectoral Coordination, Ministry of Health and Population, Nepal noted that “Climate change is a health crisis of recent times in Nepal and a moral issue as per the fundamental rights of Nepalese people to enjoy good health. “ Enhancement of climate resilience and environmental sustainability of health services and facilities, and commitment to act together in building climate resilient health systems are imperative to minimise the impacts of climate change on health.”

n committing to develop climate-smart health care, the 50 nations involved said it was targeted at creating climateresilient health systems, which in the long run was for the betterment of the society at large.

This was the assertion made at the ongoing Conference of Parties (COP26) UN Climate Change Conference in Glasgow, Scotland.

At the high level meeting held, these countries said they committed to develop climate-resilient and low-carbon health systems in response to growing evidence of the impact of climate change on people’s health.

The governments of these 50 countries, which include some of those most vulnerable to the health harms caused by climate change as well as some of the world’s biggest carbon emitters, pledged to take concrete steps towards creating climate-resilient health systems.

Participating Nations While 50 of these countries committed to develop climate-resilient health systems, 45 others also committed to transform their health systems to be more sustainable and low-carbon and 14 have set a target date to reach net zero carbon emissions on or before 2050.

According to WHO, the countries that have joined the COP26 Health Programme include Argentina, Bahamas, Bahrain, Bangladesh, Belgium, Belize, Bhutan, Cape Verde, Central African Republic, Chile, Colombia, Costa Rica, Dominican Republic, Egypt, Ethiopia, Fiji, Germany, Ghana, Indonesia, Ireland, Jamaica, Jordan, Kenya, Lao PDR, Madagascar, Malawi, Maldives, Morocco, Mozambique, Nepal, Netherlands, Nigeria, Norway, Oman, Pakistan, Panama, Peru, Rwanda, Sao Tome and Principe, Sierra Leone, Spain, SriLanka, Tanzania, Togo, Tunisia, Uganda, United Arab Emirates, United Kingdom, United States of America, and Yemen.

Commitment by Nations The commitments were made as part of the COP26 Health Programme, a partnership between the UK government, the World Health Organisation (WHO), the United Nations Framework Convention on Climate Change (UNFCCC) Climate Champions and health groups, such as Health Care Without Harm.

According to the Director-General of the World Health Organisation (WHO), Dr. Tedros Adhanom Ghebreyesus, “the future of health must be built on health systems that are resilient to the impacts of epidemics, pandemics and other emergencies, but also to the impacts of climate change, including extreme weather events and the increasing burden of various diseases related to air pollution and our warming planet.

“Health systems must also be part of the solution, by reducing carbon emissions. We applaud those countries that have committed to building climate-resilient and low-carbon health systems, and we hope to see many others following their lead in the near future.”

COP26 Health Programme Health was selected as one of three science priority areas for COP26 by the UK government.

As part of the COP26 Health Programme, the COP26 Presidency is working alongside WHO, Health Care Without Harm (HCWH) and the UNFCCC Climate Champions to engage countries and stakeholders on climate and health.

Thus, the COP26 Health Programme was established to bring stronger health focus and ambition to COP26. Initiatives under the COP26 Health Programme which includes building climate resilient health systems; developing low carbon sustainable health systems; adaptation Research for Health; inclusion of health priorities in Nationally Determined Contributions; and raising the voice of health professionals as advocates for stronger ambition on climate change.

Under the COP26 Health Programme’s

COP26 President, Alok Sharma first commitment area, countries have committed to conducting climate change and health vulnerability assessments, and to develop national adaptation plans for health.

Under the programme’s second commitment area, high ambition/high emitter countries commit to setting a target date by which to achieve net zero emissions health systems and develop an action plan or roadmap to achieve sustainable, low carbon health systems.

The latter is significant to global mitigation efforts as the health sector accounts for 10 per cent of global GDP and is a substantial contributor to greenhouse gas emissions, accounting for around 4.6 per cent.

Stance of Participating Nations For Nigeria, Director of Public Health, Dr. Morenike Alex-Okoh, Ministry of Health (MoH), said “The health cobenefits from climate actions are well evidenced and offer a strong argument for transformative changes”, while Hon. Khumbize Kandodo Chiponda, Minister of Health Malawi noted that “the government of Malawi recognises the essential role of the health sector to ensure a successful COP26, and has committed to strengthen the climate resilience of its health systems, while developing low carbon health systems… as a way of contributing to the targets of the Paris Agreement”.

The Health Minister, Sao Tome and Prinicpe, Edgar Manuel Agostinho Azevedo das Neves, on the other hand stated that “the climate change effects

and damages on the public health of Sao Tome and Principe population, require urgent multisectoral integrated measures and actions alongside the communities engagement with partners, to be low carbon ensuring and to increase the resilience, both on the National Health System” .

Also speaking, Hon. Ifereimi Waqainabete, Minister for Health and Medical Services, Fiji noted that “in the midst of the pandemic, we had to recover from extreme weather events and manage the resulting health impacts.

“It has shown us that health systems and facilities are the main line of defense in protecting populations from emerging threats … and that now is the time to increase our commitment to a safer, and more sustainable and inclusive future for all.”

Phonepaseuth Ounaphom, Director Department of Hygiene and Health Promotion, Ministry of Health, Lao PDR said “ This commitment is an important step for us to continue ongoing efforts and speed up the implementation of the adaptation and mitigation actions”, while Ahmed Naseem, Minister of Health, Maldives posited that “the Maldives Health Sector is fully committed to executing the National Green Climate Smart Hospital Policy and Strategy to establish a climate change resilient health system with environment friendly technologies resulting in energy efficient services and a low-carbon footprint.”

Dr. Hussain Abdulrahman Al Rand, Assistant Undersecretary for Public Health, Ministry of Health and Prevention, United

The future of health must be built on health systems that are resilient to the impacts of epidemics, pandemics and other emergencies, but also to the impacts of climate change, including extreme weather events and the increasing burden of various diseases related to air pollution and our warming planet

Low-carbon Commitment Meanwhile, the countries that have committed to achieving low-carbon, sustainable health systems include Argentina, Fiji, Malawi, Spain, the United Arab Emirates, the United States of America and 39 others while countries that have committed to enhance the climate resilience of their health systems include Bangladesh, Ethiopia, the Maldives, the Netherlands, and 45 others.

According to WHO, the government of Fiji, for example, is responding to the increase in cyclones, flash floods, and rising sea levels causing lack of drinking water due to saltwater intrusion, by building more climate-resilient health infrastructure, strengthening the health workforce, and providing health care facilities with sustainable energy services.

In turn, Minister for Europe and Americas, in the United Kingdom’s Foreign, Commonwealth and Development Office, Wendy Morton said: “The message from WHO and health professionals around the globe is clear: climate change is a huge health challenge and we need to act now.

I’m really pleased to see so many countries prioritising this issue through the COP26 Health Programme and their level of ambition. “ Strong leadership from the health sector is vital to make sure we protect our populations from the impacts of climate change by enhancing the climate resilience of health systems, and by reducing emissions from the health sector,” WHO Survey WHO said the country commitments came off the back of a WHO survey, launched this week, which shows that the majority of countries now include health in their national climate plans to the Paris Agreement, but that plans often still lack detailed health actions or support mechanisms. Josh Karliner, International Director of Program and Strategy of Health Care Without Harm said: “These government commitments exemplify the growing global health movement for climate action.

“Around the world doctors, nurses, hospitals, health systems and ministries of health are reducing their climate footprint, becoming more resilient and advocating for a just transition that puts health at the centre of a decarbonised civilisation.”

Race to Zero In addition to the national commitments, WHO disclosed that 54 institutions from 21 countries representing more than 14,000 hospitals and health centres have joined the UNFCCC Race to Zero and committed to achieving net zero emissions.

WHO said: “A record number of health leaders are participating at the COP26 UN climate conference, and more than 45 million health professionals, representing two thirds of the world’s health workforce, have signed a letter urging governments to take stronger action, noting that “hospitals, clinics and communities around the world have already been responding to the health harms caused by climate change”.”

T H I S D AY ˾ , NOVEMBER 11, 2021

33

NEWS

FERTILITY

Info@lifelinkfertility.com; Website: lifelinkfertility.com 08033083580

Duchess International Hospital Has Put Lagos on World Healthcare Map, MALE INFERTILITY (Part 1) Says US Consul General Mary Nnah Duchess International Hospital, Ikeja, Lagos has continued to attract commendation and admiration from within Nigeria and around the world, for its world class facilities and highly professional and skilled clinical and allied health personnel since it was commissioned by Vice President, Prof. Yemi Osinbajo a fortnight ago.

On a visit to the Duchess Hospital recently, acting Consul General, United States Consulate, Lagos, Mr. Bill Bridgeland, said the hospital has put Lagos on the world map of cities that offer excellent health care services.

Summing up his impression after the tour of the hospital, Bridgeland said: “This is lovely.

It’s beyond my expectations, super impressive -state-of-the facilities, state-of-the art personnel. This is going to put Lagos on the world map.”

The US acting Consul General, who has been in Nigeria for

just 15 months, said he loves Nigeria because the people are friendly and vibrant and there is “so much going on; it is an interesting place”.

While conducting the US acting Consul General and his team, which included Dr. Toyin Adenaike, Physician, US Consulate, Lagos on a tour of the facilities, the Chief Executive Officer of the Duchess International Hospital, Dr. Adetokunbo Shitta Bey explained that the purpose-built 100-bed fully ensuite hospital facility provides primary, secondary and tertiary healthcare services across a range of specialist and sub-specialty areas.

Dr. Bey said the Duchess International Hospital is uniquely positioned to solve the problem of access to affordable healthcare on behalf of local communities and reverse the trend of people traveling abroad for medical treatment.

“The Duchess International Hospital provides an impressive

range of advanced and highly sophisticated facilities across a variety of specialties.

“The hospital, for example, offers the most advanced cardiac catheterisation (Cath lab) suite in Africa combined with the requisite international expertise and experience to provide minimally invasive (interventional) cardiological treatments and ‘open heart’ surgery in accordance with global best practice”, Dr. Bey explained.

The Duchess International Hospital is a wholly indigenous brand, firmly rooted in the needs and aspirations of the domestic populace and committed to providing access to high quality affordable healthcare for residents of Nigeria and sub-Saharan Africa.

Operation and management of the Duchess Hospital is supported by Apollo Hospitals, India to help ensure efficiency and quality assurance in the delivery of its services.

DUCHESS HOSPITAL

L-R: Chief Executive Officer, Duchess International Hospital, Ikeja, Lagos, Dr. Adetokunbo Shitta Bey; Physician, United States Consulate, Lagos, Dr. Toyin Adenaike; Chief Operating Officer, Duchess Hospital, Ms Unnati Jhingran and acting Consul General, US Consulate, Lagos, Mr. Bill Bridgeland during Bridgeland’s official visit to the hospital, recently

Avon Medical Hosts Breast Cancer Webinar Mary Nnah Avon Medical, a leading multi-specialty practice and a growing healthcare network, recently hosted a free informative webinar on the theme “Life with Breast Cancer”, to spread awareness about the condition.

According to the World Health Organisation (WHO), breast cancer is the world’s most prevalent cancer, and it is also the leading cause of cancer deaths in Nigeria.

Though there is a high incidence of breast cancer in Nigeria, studies have shown that a majority of Nigerian women, both in rural and urban areas have little or no knowledge about risk factors and symptoms of the disease.

Highlighting the urgency of the condition and its increased impact in Nigeria, Dr Lilian Ekpo, the Medical Director at Avon Medical Practice, noted, “we found it vital to create a platform where Nigerian women could learn more about breast cancer, hear stories from real-life survivors, and be inspired to regularly get important health tests done.

“In September, we hosted another free webinar on polycystic ovarian syndrome (PCOS), and we found that many women’s health issues also needed awareness”.

She further said Avon Medical Practice is focused on working to improve lives across Africa by providing affordable, quality healthcare services, and “this includes creating learning spaces through webinars and other initiatives to sensitise people about key health topics”.

Miss Abisayo Fakiyesi, a twotime breast cancer survivor, shared her personal journey with breast cancer at the webinar.

She thanked Avon Medical for creating a platform to drive more awareness on the topic, mentioning how early detection was key in her story.

Speaking on the event, Head, Marketing and Corporate Communications, Avon Medical Practice, Shekinah Olagunju, said, “It was very inspirational to see many women ask questions about breast cancer, get the answers they sought, and be motivated to self-check for lumps or directly get a mammogram from our webinar.

“At Avon Medical, we are committed to the total well-being of our patients and strive to educate the public about key health topics to aid this.”

He noted further that interested persons can learn more about Avon Medical, with a visit its website www.avonmedical. com or a check on its social media channels; Instagram; @ avonmedicalpractice, LinkedIn; Avon Medical Practice, and Facebook; Avon Medical Practice.”

Headquartered in Lagos, Avon Medical offers an extensive range of facilities including a full-service hospital, multiple on-site clinics across Nigeria, a state-of-the-art dialysis centre in Ikeja, Lagos, and an online teleconsultation platform.

As a portfolio company within the Heirs Holdings Group, a family-owned investment company with a mission to improve lives and transform Africa, Avon Medical’s operations are rooted in the economic philosophy of Africapitalism; a private sector-led approach to Africa’s development through long-term investments in critical sectors creating both economic prosperity and social wealth.

I

n our society today, when we hear of infertility we immediately conclude that it is a woman’ issue. However, research studies have shown that approximately one-third of infertility is a female factor, one-third is a male factor and one-third is idiopathic (unexplained) or a combination of both factors.

According to the World Health Organization [WHO] definition, infertility is “a disease of the male and female reproduction system that leads to the failure to achieve a clinical pregnancy 12months or more of regular unprotected sexual intercourse in a couple who have never had a child”.

By regular, we mean at least 3 days or more in a week of sexual intercourse.

Under normal conditions, millions of spermatocytes (germ cells) are regenerated every day and are produced in a system of tiny tubes called the seminiferous tubules located in the testicles. These germ cells differentiate and push like a tadpole towards the epididymis where they gain the ability to swim for progressive motility (movement), complete their development and become a mature sperm cell. A complete cycle of sperm production to maturation takes about 64 days.

These mature sperm cells travel into a long, muscular tube that extends from the epididymis into the pelvic cavity (vas deferens) awaiting stimulation. Upon stimulation during sexual activity, the accessory glands (seminal vesicles and prostate gland) produce a whitish liquid called the semen. The produced semen mixes with the sperm cell and can carry about 500 million sperm through the urethra for ejaculation out from the penis.

For a successful pregnancy to occur, after ejaculation, a sperm cell must rapidly swim upstream through the cervix into the uterus to the fallopian tubes in order to meet the egg in the female reproductive tract during unprotected sexual intercourse but this rapid process can only be positive when your hormones, environment and genetic factors are in good conditions.

CAUSES OF MALE INFERTILITY There are so many factors that can keep the sperm from fertilizing the egg; even the littlest detail such as the temperature of the scrotum may affect fertility. Some of the main reasons why a man may have abnormal sperm or low sperm count include: Environmental Factors: Some environmental agents are very hazardous to the male reproductive system thereby leading to male infertility. Research studies suggest that communities with high levels of environmental pollution such as contaminated water, pesticides, paints, and industrial chemicals or herbicides yields population of men with low sperm count.

Lifestyle Choices: Your lifestyle practices may also affect the production of normal sperm cells. r 0WFSXFJHIU BOE PCFTJUZ UIBU JT excessive fat accumulation, leads to a higher risk of infertility due to the decrease in sperm quality. Sperm quality decreases in obese men because the white adipose tissue (fats) causes an increased conversion of testosterone (male hormone) into oestrogen (female hormone).

Female hormones cannot induce sperm production! Also, excess fat may lead to an increase in the temperature of the scrotum. The excess heat generated from fat accumulation may burn out the sperm cells produced in the testicles leading to male infertility. r 5JHIU DMPUIFT PS UIF VTF PG FYDFTTJWF hot bath or even the type of job you do such as truck driving, firefighters, welders may affect male fertility rate due to the excess heat generated from these occupations. r 4NPLJOH FYDFTT BMDPIPM BOE FYDFTT caffeine intake leads to decreased male fertility. r 4UVEJFT IBWF TIPXO UIBU QTZDIPMPHJDBM stress is linked with abnormal sperm and reduced paternity. r 3FDSFBUJPOBM ESVHT MJLF TUFSPJET marijuana, cocaine, including certain antibiotics and prescription medicines pose a threat to a normal sperm cell. r "NPOH PUIFS GBDUPST BSF UFTUJDVMBS IFBU stress, intense cycling training, lack of sleep, and excessive exposure to electromagnetic radiation from mobile phones and laptops at close proximity to the testes.

Retrograde Ejaculation: This occurs when the sperm move backwards into the bladder in your body instead of it to be ejaculated out from the penis. Normally, the muscle of the bladder tightens inorder to hold your urine but in retrograde ejaculation, the muscle may be collapsed causing an opening that allows sperm and other fluid to flow back into the bladder. The sperm produced may be normal but the setback is that this normal sperm is unable to reach the vagina of the female reproductive tract since it is not ejaculated out, thereby leading to the inability of the sperm to fertilize the female egg.

Retrograde ejaculation may be due to past surgery of the bladder or the prostate, spinal cord injury, diabetes, side effect from medications used to treat high blood pressure or the use of anti-depressants. Two common signs of retrograde ejaculation are little or no semen after orgasm (dry ejaculation) and cloudy urine because the urine is filled with the semen after ejaculation TO BE CONTINUED

34

T H I S D AY ˾ , NOVEMBER 11, 2021

HEALTH FEATURES

Championing Campaign for the“Hurried Child” A Mother’s Love Initiative, a social non-governmental organisation, in its soon to be launched documentary,“The Hurried Child: An African Perspective”, is championing a campaign on the irreparable harm caused by hurrying the Nigerian child through life process, Mary Nnah reports

A

Mother’s Love Initiative, a social change non-governmental organisation, has since incorporation engaged in massive and aggressive advocacy for the society to raise ideal, balanced and happy children in Africa.

It has also been involved in providing interventions and support to children, and also educates parents and major stakeholders in the society towards improving the overall psychological and social well-being of the African child.

To achieve these and more, the NGO, established in 2018 to bring change to the African Child’s narrative, has been using various strategies such as child development advocacy, psycho-education, preventive and remedial interventions, reorientation, professional counselling, films and television series, book series and publications, documentaries, radio and tele-advocacy, and institutional/community support services to relate its messages at various levels of the society.

One of such strategies is its soon to be launched documentary, “The Hurried Child: An African Perspective”.

According to Mr. Uchechukwu Michael Ginika, Legal Adviser/Press Secretary for A Mother’s Love Initiative, the “Hurried Child Syndrome”, is a set of stress-linked behaviours which occur when a child is expected by his parents or the society to perform well beyond his or her level of mental, social or emotional capabilities.

The campaign, he revealed, was inspired by Dr. David Elkind, author of The Hurried Child, who advises parents to let children be children.

“In simple terms: the increasing trend of hurrying children through life, in turn plunges them into irreversible psychological crises. Seeing heart wrenching effects of hurrying the child such as development of unfulfilled children who are incompetent, timid, unstable, stressed, overly anxious and depressed has been a daily reminder for us to call for intervention in this area”, Ginika added.

He stressed that kids are more likely to have academic success if they were not hurried through their early childhood by parents who overestimate their competence and overexpose them to academic pressures.

He noted further that the concept of hurrying the child permeates the entire fabrics of the society, and manifests itself in diverse ways through heightened domestic roles, undue academic expectations and excessive demands, child labour, child marriage and so on.

For this reason, A Mother’s Love Initiative, a social change Non-governmental Organisation (NGO) has chosen to champion a cause in Africa through which it will counsel all stakeholders to take positive steps in salvaging the future of the African Child.

Explaining further his concept of the hurried child and the harms involved in hurrying a child, he said, “To hurry a child through early childhood years is to prematurely restructure the life of the child. The hurriedness to grow up too fast or too soon plunges a child into crisis in the period of adolescence and beyond.”

For him, to hurry a child is to build up stress in their future as a child bears a heavy burden when he/ feel that their performance is connected to the love and acceptance they receive from their parents or the society, and they end up feeling that they are letting their parents down if they are not ‘successful’ as erroneously defined.

Many parents, especially from middle class families, the lawyer said, seek to create “super kids,” thereby pressuring their children into becoming premature adults and making them overly competitive.

He explained further that, ironically, in their eagerness to create an academic prodigy, overzealous parents often create a slowpoke and an underachiever.

When these children fail to live up to their parents’ unrealistic expectations created by media hype, the children become so anxiety -ridden that they cannot perform.

According to Ginika, this rising trend of “child stars” is troubling as it is alarming.”

“We are daily bombarded with news of kids who are yet to get a grasp on life being rushed into stardom by greedy and fame craving parents or guardians through the entertainment and fashion industry.

“Others such as underage ‘business moguls’ are loaded with undue responsibilities. Such social and media hoax do us no good, and most times leave the child damaged and unfulfilled”, he added.

He stressed further that the present culture of hurrying attributed to emphasis on success alone has bombarded children with so many schedules, tasks and expectations that they grow up too quickly.

“They are pressured to learn how to read and count even before they can walk perfectly; pushed to outperform other children in their kindergarten

Legal Adviser and Press Secretary for A Mother’s Love Initiative, Uchechukwu Michael Ginika years; pushed to manage adult responsibilities such as running or owning business interests”, he said adding “our primary call on all and sundry is to “let them grow!”

Enumerating the effects of hurrying a child, he said “The implication is that we end up churning out damaged, unhappy, and psychologically impaired children.

“Today, the Nigerian educational system, especially the private sector, has been inflicted with a spell which manifests in speeding the education of a child based on intellectual outcomes, such as reading level and cut score without taking a critical introspection on what is being sacrificed in that rush.”

He warned that though the system is and was designed to reward academic excellence as against other core developmental parameters such as emotional, social, and psychological development of the child, if we continued at this rate, we might affect the child’s proficiency to acquire the confidence and content needed to thrive in school at the expected period.

He asserted that in Nigeria, children are harried through primary, secondary and tertiary education using several mechanisms such as jumping classes, double-promotions, changing dates of birth, and ignoring expected age of entry into a level of education.

“Too much focus has been given to the grading at the end of an academic term or session while too little attention is given to the pathways through which these children get to where they are.

“Parents are also seen defining their children by test scores and grades, and display a show of pride about their wards leapfrogging from one level to the next. ” The aftermath of these pressures, Ginika said, is having children who believe that they are unworthy, and feel rejected when they do not meet up with family or societal expectations.

Some behavioural responses to stressors associated with hurrying a child, he said, included lack of motivation, indiscipline and learning difficulties.

To curb all these negative impacts on the African child, the bottom line of The Hurried Child Project is to make a case for an intervention that hurrying the Nigerian child has a huge implication on their overall well-being and the future of Nigeria.

Consequently, A Mother’s Love Initiative has produced a film, titled, “The Hurried Child: An African Perspective’, an informative documentary that creates awareness and shares insights on the ills of hurrying the Nigerian child, which will be formally launched at Protea Hotel by Marriott, Kuramo Waters Close on November 19, 2021 by 11am, to commemorate of the World Day for the Prevention of Child Abuse.

Ginika emphasised that the documentary is a media advocacy aimed at reorienting the subtle but hurtful concept of hurrying the child through life.

The documentary is a media advocacy aimed at reorienting the subtle but hurtful concept of hurrying the child through life.

The documentary is a wake-up call for an intervention to prevent its huge implications on the overall well-being and the future of the African child

The documentary is a wake-up call for an intervention to prevent its huge implications on the overall well-being and the future of the African child.

According to the lawyer, A Mother’s Love Initiative team carried out qualitative interviews and quantitative surveys across regions in Nigeria and selected countries in Africa to provide evidencebased data and information on the current state of the hurried child syndrome in Africa for the project – a project which took them about five years to complete.

The project evolved through advocacy and research with the mission of creating awareness and re-orientation to parents, teachers, school owners, civil society organisations and relevant government agencies on the need to be more conscious and attentive to this silent problem reducing the quality of life of the African Child.

Speaking on the challenges in putting together the documentary, he said, “It has been tasking and quite daunting to say the least. Getting people to come out of their shell to talk on the topic due to perceived social stigma was one major challenge.

However, many who were passionate for change were able to come out and speak boldly on the subject and share their experiences.”

The documentary is a call on all stakeholders to arise and salvage the waning future of the next generation of Nigerian and African leaders by raising a well-rounded, balanced, and happy child, expressing strong belief that by the use of consistent enlightenment and reorientation campaigns using various media, this anomaly will be corrected.

“This dispensation has foisted on the African child a yoke which is doing us more harm than good. Remember, it is impossible to accelerate emotional maturation. Children may act grown up, but they really don’t feel grown up. They may speak “adult” while their feelings are crying “child” Ginika reiterated.

He therefore emphasised that childhood is a significant part of life, and it should be respected and valued as kids were entitled to their childhood, and we shouldn’t hurry them through this stage.

“We must all join hands to fight these ills’ Let us safeguard the future of Africa by giving our children a right to their childhood”, Ginika appealed.

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

35

36

T H I S D AY ˾ ˜ NOVEMBER 11, 2021

BUSINESS/MONEYGUIDE

Consular General:Nigeria, Ghana TradeVolume Reached $7.47m in H’1 2021 Ȋ ȱ ȱ ȱ ȱ ȱ ȱ Peter Uzoho Amid COVID-19 hangover, Nigeria’s trade volume with Ghana between January and June 2021 amounted to $7.47 million, Ghana’s Consular General in Lagos, Mrs Samanta Bukari, has said.

This is just as Africa’s banking giant, the United Bank for Africa (UBA) has stressed the need for Nigeria and other African countries to invest massively in Small and Medium Enterprises (SMEs) existing in Africa to facilitate the continent’s economic survival post-COVID-19.

The Ghanaian diplomat said the $7.47 million trade volume was recorded in new projects, adding that the record meant that the two West African countries

had been trading for years.

Bukari disclosed this yesterday in Lagos at the Africa Day Celebration, a special session of the ongoing Lagos International Trade Fair, with the theme: “Boosting Intra-African Trade.”

Acknowledging that Ghana was not new to Nigerian investments, Bukari added that Nigerian multinationals directly or indirectly have their footprints in all sectors of the Ghanaian economy.

She said, “I wish to acknowledge that Ghana is not new to Nigerian investment. Virtually, all internationally oriented Nigerian business establishments have footprints in Ghana either directly or indirectly in all sectors.

“According to the Ghana

Investment Promotion Centre, even in the midst of global COVID-19 pandemic, Nigerian foreign direct investment in Ghana from January to June 2021 amounted to $7.47 million.

These are recorded investments in new projects. Which therefore means that Ghana and Nigeria have been trading for years.”

Contributing on the African Continental Free Trade Agreement (AFCFTA) and its importance in boosting intraAfrican trade in the continent, Bukari said the agreement has the potential to provide millions of jobs to Africans.

She however warned that the gains of the AFCFTA would elude the continent if Africa refused to invest in businesses existing in the continent.

Accountants Charged to Foster Awareness on Financial Crimes through Integrity, Ethical Standard

MARKET INDICATORS

Oluchi Chibuzor

MONEY AND CREDIT STATISTICS

The 57th President of the Institute of Chartered Accountants of Nigeria (ICAN), Mrs. Comfort Olu-Eyitayo, has charged its 55, 000 members in the country to actively raise the consciousness of the society through integrity, ethics and professionalism in the fight for financial crimes.

This, she said, was because professional accountants add value by ensuring businesses perform optimally, facilitate governments’ efficacy in the generation and management of revenue and disbursement of expenditure and ensure sustainable control of costs across government institutions and private enterprises.

Speaking at the 2021 Interna-

tional Accounting Day held in Lagos, Olu-Eyitayo said members must proof processes to forestall financial crimes, offer quality judgements to aid wholesome investment decisions and provide pragmatic international trade models among many other activities.

She acknowledged that it has been mentioned at several fora that financial crimes cannot occur without the connivance of accountants.

She however, noted that while this was true sometimes, not all financial malpractices involve professional accountants.

“When we have such few occurrences, where professional accountants are involved, such incidents are addressed fron-

tally by the Institute.The global umbrella body of professional accountants, IFAC, also strongly disapproves such acts. I would like to categorically state that ICAN has always frowned and continues to frown at any form of professional misdemeanour among its members. We have well-established disciplinary mechanisms against any erring members,” she stressed.

According to her, the day was to commemorate the impact of accountants on the economy worldwide, “as professional accountants offer the information that keep the business world moving and collaborate with other actors in the economy to create sound business environments.

Nigerians toTap into N200bn Weekly Lottery with Megamillionsnaija Launch Nume Ekeghe In a bid to tap into the international lottery across the globe, Lottery and International gaming and entertainment limited has launched megamillionsnaija a licensed firm to aide Nigerian participate in the global lottery draws.

The company said Megamillionsnaija would enable Nigerian partake in draws such as the US Powerball, US Mega millions and others that span across the United States, Europe and Australia.

The firm in noted that they would only help facilitate transaction and all winning would be given to the players without any

transaction fee or hidden charges.

The launch brought in technical partners such as the Managing Director of Union Bank, Mr. Emeka Okonkwo, Managing Director Afrinvest Mr. Ike Chioke and representatives from sterling Bank.

Speaking at the launch, Chief Executive Officer, International gaming and entertainment limited the owners of Mega millionsnaija Mr. Okwy Okeke said: “When we say Megamillions, we are actually being modest because it should be Mega billions because at any given point in time, we represent the only legitimate and legal avenue where any Nigeria can hope and dream, they would

make billions of naira.”

He further explained that the opportunity the draw presents is that of hope that would lift Nigerians out of poverty and again reassured He added, “On our platform today, there is over 200 billion to be won. International gaming an entertainment is bringing to Nigeria something that has never happened before. If you take all that is at stake in the gaming industry in Nigeria and put us on the other half, we would tip the scale. This launch would give every Nigerian an opportunity for every Nigerian above the age of 18 to have a short at winning any of the big global lottery.”

InvestmentOne Promotes Financial Literacy with Investment Education InvestmentOne Financial Services Limited has renewed commitment to build a community of financial literacy among Nigerians.

The move, following the report by the Nigeria Inter-Bank Settlement System (NIBSS) about the negative impact of the COVID-19 that had launched a new wave of digital activities and financial fraud which was at its peak in the year 2020 with 186 per cent increase against 2018 and, 2019 where its growth rate was low.

The Group Strategy Of-

ficer, InvestmentOne, Tomiwa Owodunni, said to address the problem in the financial sector, Investment One has embarked on a financial enlightenment initiative through financial literacy called ‘Investment Education’ aimed to build a community of financial literate individuals who, in whatever phase of their career can sustainably earn, grow, manage and preserve their wealth.

“This way the chances of getting swayed by fraudsters are lessened and they are armed

with tools to aid their financial freedom. As a movement we began learning sessions in September 2021, virtually on the telegram group where subject matter experts take on varied topics, teaching in detail and addressing questions and concerns of the public. This is done at no cost. The topics of the classes range from treasury bills, foreign investment options to financial instruments, money and your mind, and so much more, “he said.

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

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), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

37

T H I S D AY ˾ ˜ ͯ​ͯ˜ ͰͮͰͯ

Stock Market Reverses Three-day Positive Trend, Drops by 0.05% Kayode Tokede Trading activities on the stock market of the Nigerian Exchange Limited (NGX) yesterday closed on a negative note, halting the three-day gaining momentum.

The market negative performance was driven by investors profit-taking in large and medium capitalised stocks- Lafarge Africa Plc, Nigerian Exchange Group (NGXGroup), Ardova

Plc, UAC of Nigeria (UACN) Plc and Red Star Express Plc. Specifically, the NGX AllShare Index (ASI) dipped by 23.25 basis points, representing an decrease of 0.05 per cent, to close at 43,707.30 basis points from 43,730.55 basis points it opened for trading Consequently, the overall market capitalisation value declined by N12 billion to close at N22.809 trillion from N22.821

P R I C E S MAIN BOARD

F O R

DEALS

trillion the market closed the previous day.

Analysing by sectors, the NGX Banking (-1.0per cent), NGX Insurance (-0.3per cent), NGX Industrial Goods (-0.3per cent), and NGX Oil & Gas (-0.2per cent) indices recorded losses while the NGX Consumer Goods (+0.1per cent) index gained.

Furthermore, the market breadth closed negative,

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

recording 19 losers as against 18 gainers. Neimeth International Pharmaceuticals recorded the highest price gain of 10 per cent to close at N1.98, per share.

Chams followed with a gain of 9.09 per cent to close at 24 kobo and Mutual Benefits Assurance went up eight per cent to close at 27 kobo, per share.

Honeywell Flour Mills was up by 6.95 per cent to close at N3.54, while Caverton Offshore

T R A D E D MAIN BOARD

A S

Support Group appreciated by 5.88 per cent to close at N1.80, per share.

On the other hand, Red Star Express led the losers’ chart by 9.86 per cent to close at N3.29, while Pharma Deko followed with a decline of 9.83 per cent to close at N2.11, per share. Associated Bus Company and FTN Cocoa processors shed 9.09 per cent each to close at 30 kobo and 40 kobo, while Consolidated

O F

Hallmark Insurance shed 8.33 per cent to close at 55 kobo, per share.

The total volume traded decreased by 3.6 per cent to 270.702 million units, valued at N5.627 billion, and exchanged in 3,861 deals.

Transactions in the shares of Flour Mills of Nigeria topped the activity chart with 50.595 million shares valued at N1.475 billion.

1 0 / 1 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

Thursday, November 11, 2021

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů Ϭ͘ϯй dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌŽƐĞ ϮϱďƉƐ ƚŽ ĐůŽƐĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ϭ͕ϴϱϯ͘ϯϴ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;Ͳϭ͘ϮйͿ͕ t W K ;Ͳϯ͘ϵйͿ͕ ĂŶĚ ^^ ;Ͳϭ͘ϭйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵͲ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘ ůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй ŽĨ ƚŚĞ ŝŶĚĞdž͘

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй dŚĞ ĞĂƌƐ ZĞƐƵƌĨĂĐĞ͘​͘​͘ ^/ ĚŽǁŶ Ϭ͘ϭй

zĞƐƚĞƌĚĂLJ͕ zĞƐƚĞƌĚĂLJ͕ ƐĞůůͲŽīƐ ŝŶ t W K ;Ͳϯ͘ϵйͿ͕ E/d, ;Ͳϭ͘ϮйͿ ĂŶĚ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ ;нϵ͘ϴйͿ͕ ;Ͳϭ͘ϭйͿ ^^ E' D ƉƵůůĞĚ ;нϯ͘ϯйͿ͕ ƚŚĞ E'y ĂŶĚ ůůͲ^ŚĂƌĞ & E, /ŶĚĞdž ;нϬ͘ϳйͿ ůŽǁĞƌ ďŽůͲ ďLJ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ Ϭ͘ϭй ƚŽ ϰϯ͕ϳϬϳ͘ϯϬ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ŵĂƌŬĞƚ ĐĂƉŝͲ ^ŚĂƌĞ ƚĂůŝƐĂƟŽŶ ƐŚĞĚ േϭϮ͘ϭďŶ ƚŽ േϮϮ͘ϴƚŶ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŵŽĚͲ ŝŶĚĞdž ƌŽƐĞ ďLJ

Ticker

THISDAY AFRINVEST 40

1,853.38

-0.25%

880.00

0.0%

31.0%

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC

ϭϭďƉƐ ƚŽ ĞƌĂƚĞĚ ϭϬďƉƐ ϯϵ͕ϱϱϬ͘ϯϲ ƚŽ ϴ͘ϱй͘ ƉŽŝŶƚƐ͘ DĂƌŬĞƚ ŽŶƐĞƋƵĞŶƚůLJ͕ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ zd ůŽƐƐ ĂƐ ǀŽůͲ ŝŵͲ

8 Lafarge Africa PLC 9 Access Bank PLC

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ ƵŵĞ ƚƌĂĚĞĚ ĚĞĐƌĞĂƐĞĚ ďLJ ϯ͘ϲй ƚŽ ϮϳϬ͘ϳŵ ƵŶŝƚƐ ǁŚŝůĞ ƚŚĞ

10 United Bank for Africa PLC 11 FBN Holdings Plc

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϲϭ͘ϵй ƚŽ േϱ͘ϲďŶ͘ &>KhZD/>> ;ϱϬ͘ϲŵ ƚƌĂĚĞĚ ƵŶŝƚƐͿ͕ dZ E^ KZW ;ϯϴ͘ϵŵ ƵŶŝƚƐͿ͕ ĂŶĚ & E, ;Ϯϭ͘ϱŵ ƵŶŝƚƐͿ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ůĞĚ ďLJ ƌŽƐĞ ǀŽůƵŵĞ ďLJ ϴϴ͘ϱй ǁŚŝůĞ ƚŽ േϯ͘ϭďŶ͘ DdEE dŚĞ ;േϭ͘ϱďŶͿ͕ ŵŽƐƚ ƚƌĂĚĞĚ &>KhZD/>> ƐƚŽĐŬƐ ;േϭ͘ϱďŶͿ͕ ĂŶĚ E ^d> ;േϰϱϰ͘ϴŵͿ ƌĞĐŽƌĚĞĚ ƚŚĞ ŵŽƐƚ ǀĂůƵĞ͘ ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ǁŚŝůĞ Ϯ ŐĂŝŶĞĚ͘ ĐĐŽƌĚŝŶŐůLJ͕ ƚŚĞ &ZͲ/ d ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĂƉƉƌĞĐŝĂƚͲ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĞĚ Ϭ͘ϯй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ DdEE ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ;нϬ͘ϱйͿ ĂŶĚ &>KhZD/>> ;нϬ͘ϱйͿ͘ DĞĂŶǁŚŝůĞ͕ ĂŶŬŝŶŐ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ŝŶĚĞdž ĨĞůů ϭ͘Ϭй͕ ĚƌĂŐŐĞĚ ďLJ E/d, ;Ͳϭ͘ϮйͿ ĂŶĚ ^^ ;Ͳ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ϭ͘ϭйͿ͘ ^ŝŵŝůĂƌůLJ͕ D E^ Z ;Ͳϰ͘ϬйͿ ĂŶĚ ,/W> ;Ͳϴ͘ϯйͿ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ƉƵůůĞĚ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĚŽǁŶ Ϭ͘ϯй ǁŚŝůĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ 'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ Ϭ͘Ϯй ĂƉŝĞĐĞ ŽŶ ƉƌŝĐĞ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ ĚĞĐůŝŶĞ ŝŶ t W K ;Ͳϯ͘ϵйͿ ĂŶĚ Z Ks ;Ͳϰ͘ϭйͿ͘ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

ƐƚŽĐŬƐ

ƐŚĞĚ

ƉƌŝĐĞƐ

ƌĞůĂƟǀĞ

ƚŽ

ϭϴ

ŐĂŝŶͲ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ĞƌƐ͘ E /D d, ;нϭϬ͘ϬйͿ͕ , D^ ;нϵ͘ϭйͿ͕ ĂŶĚ D E Ͳ &/d ;нϴ͘ϬйͿ ůĞĚ ŐĂŝŶĞƌƐ ĂƐ ǁŚŝůĞ Z ^d Z y ;Ͳϵ͘ϵйͿ͕ ďƌĞĂĚƚŚ W, ZͲ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ D <K ;Ͳϵ͘ϴйͿ͕ ĂŶĚ dZ E^ ;Ͳϵ͘ϭйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ tĞ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ĞdžƉĞĐƚ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚ ƚŽ ĚŽŵŝŶĂƚĞ ŵĂƌŬĞƚ ĂĐƟǀŝƟĞƐ ŝŶ ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ƚŚĞ ƚŽŵŽƌƌŽǁ͛Ɛ ƐĞƐƐŝŽŶ ŝŶ ƚŚĞ ĂďƐĞŶĐĞ ŽĨ Ă D zͲ ƉŽƐŝͲ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ƚƌĂĚŝŶŐ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕

ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

15.0%

3.5%

3.3%

14.7%

5.2%

P/E

P/BV

5.4x

Divindend Earnings Yield Yield

0.8x

5.1%

ot Applicable

2.1%

74.50

0.0%

10.4%

-3.7%

-3.7%

19.1%

11.2%

35.8x

6.7x

0.0%

7.6%

-14.5%

-14.5%

24.8%

3.9%

4.2x

1.0x

10.8%

23.9%

2.8%

-1.2%

6.3%

-2.8%

-2.8%

20.9%

2.8%

3.3x

0.6x

12.4%

30.6%

0.0%

6.6%

14.3%

14.3%

40.4%

16.7%

13.9x

5.4x

5.8%

7.2%

201.00

0.5%

5.5%

18.3%

18.3%

179.2%

14.1%

14.5x

22.0x

5.0%

6.9%

1,400.00

0.0%

3.5%

-7.0%

-7.0%

106.8%

15.6%

27.2x

32.0x

4.3%

3.7%

25.85

-3.9%

3.9%

22.8%

22.8%

11.6%

8.4%

9.7x

1.1x

3.8%

10.3%

9.40

-1.1%

3.0%

11.2%

11.2%

17.0%

1.4%

2.6x

0.4x

9.0%

37.9%

8.35

-1.2%

2.5%

-3.5%

-3.5%

2.1x

0.4x

6.7%

47.6%

11.45

0.9%

3.7%

60.1%

60.1%

10.6%

1.0%

5.3x

0.5x

4.0%

18.7%

52.50

0.0%

1.8%

-6.3%

-6.3%

5.3%

1.9%

48.4x

2.5x

2.1%

2.1%

39.00

0.0%

2.0%

3.3%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-10.3%

-3.9% 4.5x

0.7x

5.7%

22.3%

0.0%

1.4%

-6.7%

-6.7%

1.1%

12.1%

12.1%

16 SEPLAT Energy PLC 17 11 PLC

731.50

0.0%

1.8%

81.8%

81.8%

18 Okomu Oil Palm PLC 19 Fidelity Bank PLC

142.00

0.0%

1.2%

56.0%

2.70

-1.8%

0.7%

7.1%

8.65

-0.6%

0.9%

17.10

0.0%

0.5%

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria 26 Presco PLC 27 Unilever Nigeria PLC 28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC 38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

1.0x

-10.3%

3.4%

1.9%

16.9x

0.6x

5.7%

5.9%

56.0%

38.8%

25.2%

9.7x

3.4x

5.0%

10.3%

7.1%

12.7%

1.2%

2.3x

0.3x

8.1%

42.6%

44.2%

44.2%

1.5%

0.1%

28.7x

0.4x

-2.8%

-2.8%

25.6%

12.1%

6.6x

1.6x

8.8%

15.2%

0.0%

-100.0%

3.5%

3.05

0.0%

0.5%

-8.4%

-8.4%

1.55

0.0%

0.3%

-24.0%

-24.0%

10.1%

0.9%

3.4x

0.3x

3.2%

14.15

1.1%

0.4%

-2.4%

-2.4%

20.7%

5.9%

13.3x

2.9x

2.8%

7.5%

1.00

-2.0%

0.4%

11.1%

11.1%

-1.3%

-0.3%

0.6x

1.0%

-2.1%

89.00

0.0%

0.3%

25.4%

25.4%

2.1x

1.1%

14.60

0.0%

0.2%

5.0%

5.0%

-1.3%

-0.8%

1.3x

6.00

0.0%

0.2%

13.2%

13.2%

4.9%

-1.0% 4.2%

9.80

0.0%

0.4%

108.1%

108.1%

2.2x

7.1%

0.0%

0.4%

97.4%

97.4%

8.1%

3.8%

13.4x

1.0x

1.2%

7.5%

7.65

0.0%

0.2%

30.8%

30.8%

24.7%

7.5%

3.8x

0.9x

7.2%

26.6%

12.2%

1.8%

12.9x

0.6x 1.8%

18.3%

1.29

-0.8%

0.2%

14.2%

14.2%

240.80

0.0%

0.3%

85.2%

85.2%

24.80

0.0%

0.2%

40.7%

40.7%

18.3%

2.4%

4.3x

0.8x

1.6%

23.1%

0.87

1.2%

0.2%

26.1%

26.1%

13.7%

0.8%

4.1x

0.5x

4.6%

24.4%

0.0%

0.0%

-100.0%

7.1%

0.8%

5.6x

0.6x

5.0%

17.7%

4.85

0.0%

0.2%

31.1%

31.1%

14.5%

2.6%

2.1x

0.3x

47.9%

62.50

0.0%

0.1%

0.0%

0.0%

-38.7%

-9.5%

2.1x

-20.1%

52.95

0.0%

0.1%

-4.4%

-4.4%

14.8%

10.1%

5.38

0.0%

0.0%

49.4%

49.4%

7.7%

5.5x

4.7x

0.6x

2.0%

T o p 10 T r a d e s b y V o l u m e T ic k er

Vo lum e

P ric e C hg %

P ric e C hg %

N EIM ET H

1.98

10.0%

F LOUR M ILL

50.6

0.5%

CHA M S

0.24

9.1%

T R A N SC OR P

38.9

-2.0%

M B EN EF IT

0.27

8.0%

FB NH

21.5

0.9%

H ON YF LOUR

3.54

6.9%

ET I

19.2

-0.6% 0.0%

C A VER T ON

1.80

5.9%

GT C O

14.6

LIN KA SSUR E

0.56

5.7%

A C C ESS

12.8

-1.1%

J A P A ULGOLD

0.43

4.9%

Z EN IT H B A N K

11.4

-1.2%

UP D C

1.65

3.1%

UB A

8.4

-1.2%

C OUR T VILLE

0.41

2.5%

F ID ELIT YB K

8.4

-1.8%

WA P IC

0.49

2.1%

ST ER LN B A N K

8.3

0.0%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

A B CTRA NS

P ric e

P ric e C hg %

T ic k er

Value

3.29

-9.9%

M TNN

1488.7

P ric e C hg % 0.5%

2.11

-9.8%

F LOUR M ILL

1474.6

0.5%

0.30

-9.1%

N EST LE

454.8

0.0%

GT C O

403.0

0.0%

F T N C OC OA

0.40

-9.1%

C H IP LC

0.55

-8.3%

Z EN IT H B A N K

276.2

-1.2%

FB NH

243.7

0.9%

UA C N

10.75

-4.4%

A R D OVA

13.95

-4.1%

ST A N B IC

234.8

0.0%

2.16

-4.0%

ET I

164.5

-0.6%

25.85

-3.9%

A C C ESS

120.0

-1.1%

-3.6%

SEP LA T

111.7

0.0%

WA P C O N GXGR OUP

18.50

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com

21.4%

0.9x

P ric e

P H A R M D EKO

29.7%

37.50

T o p 10 G a i n e r s

R ED ST A R EX

15.2%

27.65

0.5%

M A N SA R D

Afrinvest West Africa Limited

85.3%

3.3%

5.55

T ic k er

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ zĞƐƚĞƌĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ

ROA

26.3%

29.15

T ic k er

ROE

24.10

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

ƟǀĞ ĐĂƚĂůLJƐƚ͘ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

Price Change Index to Date

280.00

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ Ğƌ͕ ƵƉ ƐĞŶƟŵĞŶƚ͕ ϭ͘ϴй ĂƐ ĚƌŝǀĞŶ ďLJ ďLJ ƉƌŝĐĞ /ŶǀĞƐƚŽƌ ŵĞĂƐƵƌĞĚ ŵĂƌŬĞƚ ĂƉƉƌĞĐŝĂͲ ďƌĞĂĚƚŚ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϵdž ĨƌŽŵ ϭ͘ϱdž ĂƐ ϭϵ

Price Previous Current Change Price YTD Weighting Change

Current Price

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

39

THURSDAY NOVEMBER 11, 2021• T H I S DAY

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 09Nov-2021, 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 10.45% AIICO Balanced Fund 3.37 3.43 -2.46% 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 8.56% Anchoria Equity Fund 143.29 145.11 7.73% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -13.99% 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 20.91 21.55 15.32% ARM Discovery Balanced Fund 458.81 472.64 14.60% ARM Ethical Fund 39.86 41.06 18.24% ARM Eurobond Fund ($) 1.09 1.09 -0.80% ARM Fixed Income Fund 0.99 0.99 -5.85% ARM Money Market Fund 1.00 1.00 8.50% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.21 107.21 5.41% AVA GAM Fixed Income Naira Fund 1,051.30 1,051.30 5.13% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.08 2.08 -4.58% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.24 2.28 4.06% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.48% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.11% Paramount Equity Fund 17.64 17.97 10.32% Women's Investment Fund 143.39 145.08 7.76% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.63% Cordros Milestone Fund 134.48 135.34 14.45% Cordros Dollar Fund ($) 109.76 109.76 5.28% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 7.95% Coronation Balanced Fund 1.27 1.29 5.80% Coronation Fixed Income Fund 1.41 1.41 -10.93% 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 7.59% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.16% EDC Nigeria Fixed Income Fund 1,166.92 1,188.23 1.46% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.27% Emerging Africa Bond Fund 1.03 1.03 2.85% Emerging Africa Balanced Diversity Fund 1.12 Emerging Africa Eurobond Fund 104.01 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund N/A FBN Balanced Fund 175.73 FBN Halal Fund 114.24 FBN Money Market Fund 100.00 FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

N/A 151.77 Bid Price 1.00 3.99 1.75 1.20

1.12 11.56% 104.01 3.96% invest@fbnquest.com Offer Price N/A 177.05 114.24 100.00

Yield / T-Rtn N/A 5.39% 9.24% 8.98%

N/A N/A 153.84 14.57% fcmbamhelpdesk@fcmb.com Offer Price 1.00 3.99 1.79 1.20

Yield / T-Rtn 7.64% 3.13% 14.95% 5.26%

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 N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD 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 100.00 100.00 7.55% Vantage Balanced Fund 2.92 2.99 2.34% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.79 155.06 -0.46% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.84% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.53% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.08 12.15 15.45% Meristem Money Market Fund 10.00 10.00 9.89% 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) 100.79 100.80 7.39% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.31% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A 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 135.21 137.60 12.44% 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 10.05% 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 3,422.31 3,451.15 6.44% Stanbic IBTC Bond Fund 234.41 234.41 4.25% Stanbic IBTC Ethical Fund 1.29 1.31 10.17% Stanbic IBTC Guaranteed Investment Fund 310.26 310.26 5.29% Stanbic IBTC Iman Fund 242.28 246.05 11.05% Stanbic IBTC Money Market Fund 100.00 100.00 7.72% Stanbic IBTC Nigerian Equity Fund 11,258.63 11,424.46 7.31% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.63% Stanbic IBTC Shariah Fixed Income Fund 116.31 116.31 4.71% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 105.13 105.13 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.36 1.38 6.29% United Capital Bond Fund 1.94 1.94 5.82% United Capital Equity Fund 0.94 0.97 18.22% United Capital Money Market Fund 1.00 1.00 8.99% United Capital Eurobond Fund 121.43 121.43 6.06% United Capital Wealth for Women Fund 1.10 1.11 7.32% United capital Sukuk Fund 1.07 1.07 6.80% 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 13.22 13.34 11.42% Zenith ESG Impact Fund 14.70 14.86 20.46% Zenith Income Fund 24.62 24.62 2.61% Zenith Money Market Fund 1.00 1.00 6.51%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.20

10.62% 7.24%

Bid Price

Offer Price

Yield / T-Rtn

13.96 133.14 107.23 17.99 21.35

14.06 136.45 109.59 18.09 21.45

5.61% 10.72% 8.09% 1.28% 16.51%

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.98 5.63 18.42 1.00 21.94 157.80

4.08 5.73 18.62 1.00 22.14 159.80

6.14% -0.89% 13.58% 6.60% 6.89% -15.01%

NAV Per Share

Yield / T-Rtn

107.28

13.11%

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.

40

THURSDAY NOVEMBER 11, 2021 •T H I S D AY

THURSDAY NOVEMBER 11, 2021 • T H I S D AY

41

42

THURSDAY, NOVEMBER 11, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Amnesty: Tigrayan Rebels Raping Ethiopian Women at Gunpoint Women from an occupied town in Ethiopia’s Amhara region are accusing Tigrayan fighters of raping them at gunpoint and robbing them.

A new report by Amnesty International details the horrific attacks alleged to have taken place in Nifas Mewcha, located in northern Ethiopia’s Amhara region, in mid-August.

Through interviews with 16 women, the London-based rights group detailed a pattern of gang rape, robbery, physical and verbal assault. The report also says fighters with the Tigrayan People’s Liberation Front, or the TPLF, looted and destroyed medical facilities in the town. Some of the survivors who spoke to the advocacy group recounted the use of ethnic slurs and brutal attacks. In some instances, the women said they were raped in the presence of their children. Amnesty called for TPLF commanders to investigate the charges and remove all perpetrators from the force.

“The testimonies we heard from survivors describe despicable acts by TPLF fighters that amount to war crimes, and potentially crimes against humanity,” said Agnes Callamard, Amnesty International’s SecretaryGeneral. “They defy morality or any iota of humanity.”

Taliban: 600 ISIS Militants Captured Afghanistan’s Taliban said Wednesday they have rounded up nearly 600 members of the local Islamic State affiliate, known as Islamic State-Khorasan Province, since returning to power in mid-August.

A spokesman for the General Directorate of Intelligence, the new name of the Afghan spy agency under Islamist Taliban rule, told reporters in Kabul that “high-ranking” commanders of IS-Khorasan were also among the detainees.

“These men linked to Daesh are now being held in jails under tight security,” Kahlil Hamraz told a news conference in Kabul, using a local, derogatory name for IS-Khorasan.

He said ongoing security operations against the group have also killed almost 40 militants.

Hamraz accused the former Afghan government of releasing some 1,800 IS-Khorasan militants along with other criminals from detention facilities just before the Taliban took over Kabul in August.

He said the freed prisoners were behind a recent uptick in car bombings and other violent activity in parts of Afghanistan.

EU Court Rejects Google’s Appeal of $2.8bn Fine The European Union’s General Court has rejected Google’s appeal of a $2.8 billion

European Commission fine for giving its own shopping suggestions an illegal advantage in search results.

The commission fined the American technology giant in 2017 for wrongfully directing visitors to its Google Shopping service at the expense of smaller European competitors. The General Court ruled that it “largely dismisses” Google’s appeal and is upholding the fine after “finding that Google abused its dominant position by favoring its own comparison-shopping service over competing” services.

Google, which is also appealing two other EU antitrust penalties totaling $9.5 billion, said in a statement it amended its practices in 2017 to comply with the European Commission’s decision.

“Our approach has worked successfully for more than three years, generating billions of clicks for more than 700 comparison shopping services,” the statement said.

Tribunal to Investigate Violent Crackdown in 2019 Iran Fuel Protests A group called the Iran Atrocities Tribunal is holding an event starting Wednesday in London to “investigate the killing and wounding of thousands of innocent protesters in Iran in 2019” after the government hiked the price of fuel.

According to a press release, the tribunal will hear from 45 witnesses and investigate the roles of more than 100 Iranian government officials who carried out the crackdowns.

The group will reveal its findings in early 2022. Iran’s government sparked the nationwide demonstrations on November 15, 2019, by ordering a 50% increase in the subsidized price of gasoline, further straining the finances of Iranians facing high unemployment and inflation in a shrinking economy under heavy US sanctions. Security forces killed hundreds of demonstrators and arrested thousands more while crushing the mostly peaceful protests, in which some people also damaged public buildings and businesses.

“To date, the Islamic Republic of Iran has failed to investigate its own responsibility, or the responsibility of its own security forces, or otherwise facilitate any independent international adjudication for any of this violence or alleged crimes,” Wayne Jordash, a human rights lawyer and chair of the tribunal, said in a statement.

Climate Talks Draft Agreement Expresses ‘Alarm and Concern’ Governments are poised to express “alarm and concern” about how much Earth has already warmed and encourage one another to end their use of coal, according to a draft released Wednesday of the final document expected at UN climate talks.

The early version of the document circulating at the negotiations in Glasgow, Scotland, also impresses on countries the need to cut carbon dioxide emissions by about half by 2030 — even though pledges so far from governments don’t add up to that frequently stated goal.

In a significant move, countries would urge one another to “accelerate the phasing out of coal and subsidies for fossil fuels” in the draft, though it has no explicit reference to ending the use of oil and gas. There has been a big push among developed nations to shut down coal-fired power plants, which are a major source of heat-trapping gases, but the fuel remains a critical and cheap source of electricity for countries like China and India. While the language about moving away from coal is a first and important, the lack of a date when countries will do so limits the pledge’s effectiveness, said Greenpeace International Director Jennifer Morgan, a long-time climate talks observer.

“This isn’t the plan to solve the climate emergency. This won’t give the kids on the streets the confidence that they’ll need,” Morgan said.

of half of the country’s population, denying them access to essential reproductive health care and information.”

Over the past decade, Iran has shifted its population policy from providing family planning and access to contraception to boosting population growth by limiting women’s access to sexual and reproductive health care. HRW said that several articles in the new legislation further limit already restricted access to safe abortion.

HRW Warns Iran Population Growth Law Will Endanger Women Human Rights Watch warned Wednesday that a new Iranian law aimed at raising the birth rate would put women’s lives at risk by denying them access to reproductive health care. The bill, which is expected to become law later this month, provides various additional benefits to families with children and outlaws sterilization and free distribution of contraceptives in the public health care system unless a pregnancy threatens a woman’s health.

“Iranian legislators are avoiding addressing Iranians’ many serious problems, including government incompetence, corruption and repression, and instead are attacking women’s fundamental rights,” said HRW’s senior Iran researcher Tara Sepehri Far. “The population growth law blatantly undermines the rights, dignity and health

China, Pakistan Snub India’s Parley on Afghanistan India hosted senior officials from Afghanistan’s neighbouring countries to discuss the regional security implications of the country’s takeover by the Taliban, but New Delhi’s rivals China and Pakistan did not attend the meeting.

China cited “scheduling reasons” for not coming but conveyed that it is open for dialogue with India on Afghanistan multilaterally and bilaterally.

Noting last week that he did not plan to attend the talks, Pakistan’s National Security Adviser Moeed Yusuf said “a spoiler cannot become a peacemaker,” in an apparent reference to India.

Officials from Iran, Russia, Kazakhstan, Kyrgyzstan, Turkmenistan, Tajikistan and Uzbekistan participated in the conference on Wednesday.

Poland Accuses Belarus of Terrorism at Border Polish Prime Minister Mateusz Morawiecki Wednesday accused Belarus of “state terrorism” regarding the migrant crisis at the border between the two nations.

Morawiecki made the comments to reporters during a joint news conference in Warsaw with European Council President Charles Michel, who came to Poland to show European Union support for Poland on the migrant situation.

Poland and the EU accuse the government of Belarus President Alexander Lukeshenko of “weaponizing” migrants - largely from Africa, the Middle East and Afghanistan - by inviting them to enter Belarus and shepherding them to the Polish border, sometimes by force.

Polish troops have clashed several times with the migrants as they attempted to force their way across the border. Polish security officials have said there could be as many as 12,000 migrants in Belarus camped near the Polish frontier.

43

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

UBEC MANAGEMENT VISITS THE LAND OF HONOUR...

L-R: Deputy Governor of Ekiti State, Bisi Egbeyemi; Executive Secretary, Universal Basic Education Commission (UBEC), Dr. Hamid Bobboyi; Ekiti State Governor Dr. Kayode Fayemi, and Deputy Executive Secretary UBEC, Dr. Isiaka Kolawole during UBEC management team’s visit to the governor in Ado -Ekiti... recently

South-south Senators, Others Clash over NDDC, 13% Derivation Revenue Omo-Agege describes colleague as meddlesome interloper

Emameh Gabriel in Abuja Efforts by Senators from other regions, especially the south-west to include non-oil producing states into the Niger Delta Development Commission (NDDC) was thwarted by their counterparts from the Niger Delta region during plenary yesterday.

This followed a lead debate on a Bill for an Act to amend the NDDC for the inclusion of new oil producing areas and states into the commission and other matters connected therewith sponsored by Senator Adeola Solomon Olamilekan (Lagos West).

The Bill was first read for the first time in the Red Chamber on December 17, 2019.

Earlier in his submission, the Lagos West lawmaker argued that, "following the discovery of Oil in Bauchi, Lagos and Ogun, these states have officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil in Alkaleri Local Government, Bauchi; Badagry, Lagos, and Ipokia, Ogun state.

“By virtue of this, the states are entitled to the 13 percent derivation that is due to oil producing states according to the provision of Section 162 Sub-Section 2 of the Nigeria constitution.”

He further argued that, “the purpose of this Bill is for the Act to make provision for new states who have joined the league of oil producing states in Nigeria and for

states that might eventually discover oil in the future as opposed to the present position of the Act which only covers oil producing states within the Niger Delta region.”

Adeola added: “Furthermore, the inclusion of the new oil producing states in the Act saves costs and follows precedence.

"In conclusion, this amendment is to accord the same provisions of the law amongst other benefits accrued to oil producing states in Nigeria to the new oil producing states and future oil producing states."

But in swift reaction, Senators from the Niger Delta region did not waste time throwing knocks on the sponsor of the Bill describing the proposed legislation as selfish and dead on arrival.

Deputy Senate President, Omo-Agege haven exhausted his submission, described Senator Solomon Adeola as a meddlesome interloper. He said: "We look forward to the day when indeed all states in Nigeria will not only produce oil but produce one form of mineral resource or the other.

"Dealing with the issue of 13 per cent derivation. To us that is not an issue to the extent that they produce oil in commercial quantity and DPR so determines, that oil is been sold, and revenue is sent to the federation account. That is not the issue yet.

“The issue is just because they are oil producing they should come under NDDC, if you are looking for meddlesome interlopers, you

SOLUDO: I WILL HIT THE GROUND RUNNING WITH MY AGENDA way some individuals, especially, those within the political circles, desired, but Ndi Anambra have spoken and their choice must be respected and accepted.

"It is on this note that I call on all Ndi Anambra, irrespective of political affiliations, to put politics and issues of the election behind and come together as one people that we are, and join hands with Prof.

Soludo to chart a new course for our dear state. I implore contenders, who are hurting over the outcome of the election to sheathe their swords and put aside all personal interests for the sake of Ndi Anambra."

Olawepo-Hashim: Nigeria is greatest winner

Olawepo-Hashim commended Buhari for creating an atmosphere of non-interference in INEC's conduct of the election in Anambra State. In a statement by his media assistant, Mr. Segun Abifarin, Olawepo-Hashim said the victory belonged to Anambra and Nigeria, in general.

He congratulated the “a wonderful person of Anambra State, who against all odds, filed out peacefully and performed their civic responsibilities,” stressing, “Our dear country Nigeria is the biggest winner. Glory to God as the country has again proven prophets of doom wrong.

“All Nigerians should celebrate this victory. Though my party, APC, did not come top in the final result, we can boast that our government created the atmosphere under which the votes of the electorate are beginning to count.”

It’s democracy in action, says Secondus

Secondus said by Soludo's victory, the people had spoken and democracy was in action. He said though he had desired his party,

PDP, to come out victorious, "as a true democrat, we will always respect the will of the people, where and when it’s allowed to prevail."

Secondus mocked the All Progressives Congress (APC) for trying to reap where it did not sow in the hope that untoward acts could give them victory.

NLC calls for democratic reforms

In its congratulatory message, the Nigeria Labour Congress (NLC) called for deeper reforms to democratise the appointment of the leadership of INEC, establish an Electoral Offences Commission, and the institutionalise proportional representation in Nigeria’s constitution and electoral law.

NLC President, Ayuba Wabba, said Soludo’s victory was a testament to the confidence he enjoyed from majority of Anambrarians, but added that the advocated reforms represented a more sustainable recipe for deepened political process and value-laden democratic outcomes in Nigeria.

Ayuba stated, "This is the hallmark and beauty of democracy. There is no doubt that the consummation of the November 6 governorship election in Anambra State was fraught with anxious moments, as many Nigerians followed the process with bated breath. The thuds of armoured tanks and the echoes of gunshots that trailed the campaign train turned the once peaceful state into a theatre of battles.

"The dicey security situation was not helped with the agitations of the IPOB, especially, the sit-at-home order which hung a huge blanket of uncertainty over the November 6, 2021 election.

“We commend the resolve of Anambra people to put the enemies

of democracy to shame. Many voters in the state dared the pre-election day violence and showed up on election day to cast their ballot.”

Ifeanyi Ubah: I won’t challenge result in court

The YPP candidate, in a press statement, said, "I have just called the newly elected governor of our dear state, Prof. Chukwuma Charles Soludo, to congratulate him on his victory at the just concluded November 6, 2021 Anambra governorship poll.

"As a democrat and law-abiding citizen, I wholeheartedly accept the outcome of the election and would like to use this medium to congratulate Prof. Charles Soludo on his victory. It is imperative to state that I do not intend to challenge the electoral results as announced by the Independent National Electoral Commission (INEC) through any court or judicial process."

TMG tells INEC to improve use of technology

TMG called for the improvement of election equipment, especially, the BVAS. It urged the security agencies to investigate and charge to court all security operatives, who engaged in violation of human rights, and gross misconduct during the election.

Chairman of the group, Comrade Auwal Musa Rafsanjani, noted that the pre-election season, which witnessed a lot of violence that marred campaign rallies of the various parties in parts of the state, eventually led to low voter turn out, an omen, he said, was bad for democracy.

Rafsanjani said, “The stand of the Indigenous People of Biafra (IPOB) and the strong presence of security operatives had an effect on how voters came out to exercise their franchise." He called on government

to stand up to the challenges of insecurity in the country, so that the 2023 election would not witness voter apathy, as was the case in Anambra.

Vice Chairman of the group, Mrs. Miriam Menkiti, also lamented the poor performance of the BVAS, which she said frustrated voters across the 21 local government areas of Anambra State.

Menkiti stated, “It is shocking that despite the consistent statement

by INEC that the card readers were all set for the elections, we still witnessed a high rate of poor connection of the BVAS in various part of the state.

“TMG appeals to INEC to live up to the task of providing smooth elections for Nigerians in the 2023 general election, which will be cumbersome and overstretch the electoral umpire.”

Soludo gingers up APGA in Abia

In nearby Abia State, APGA members saw Soludo’s victory as the sign of a political possibility in the state in 2023. Leader of Abia State chapter of APGA, Hon. Obinna Ichita, told journalists that the party received the outcome of the Anambra poll with great joy and high hope for better things ahead, as the 2023 general election drew near.

Ichita stated, "We (Abians) now know that it is normal to ply on good roads; it is normal to have potable water; it is normal to have quality healthcare services that APGA has provided in Anambra over the years."

He said come 2023, Ndi Abia could not afford to continue to entrust their collective destiny to PDP, which had over the past 20 years "proved to be incompetent".

Ichita declared that APGA was a proven credible alternative.

don't have to go too far to find one.

"What this lead debate clearly shows that my colleague from Lagos is a classic meddlesome interloper.

The NDDC is a regional development commission. We must draw a distinction between the NDDC and the oil and mineral producing commission."

On his part, Senator George Sekibo congratulated states that recently attained the oil producing status, but wonder if they have attained the status of producing in commercial quantity.

"Are they exploring oil, are they refining oil in these places and has the oil caused any devastation in that environment? Sekibo asked.

He added: "The purpose of the NDDC is not just because they found oil there, it is because the place has been so devastated and there is a need to see how they can remedy the place and because that place is so backward.

"Each time there is a law to support a backward people, to

support people who are suffering, Nigerians will come out after a couple of years to dampen the strength of that law.

"There is nothing wrong that they are given their 13 per cent derivation, which is if funds from those oil are now in use.”

Also joining issue with the sponsor of the Bill was Senator Matthew Uhroghide, who said the proposed legislation was wrongly presented and also reminded the sponsor that what constitutes the NDDC presently was tied to production capacity.

"Today Gombe is fast becoming a host community, Bauchi and some other states. But to say these states belong to the Niger Delta region is not possible.

"If the idea is you want to share out of the 13 per cent derivation, they are at will as long as they produce oil but to say they must belong to Niger Delta, it makes mockery of the idea in the creation of NDDC, added Ohroghide.

BUHARI: NIGERIA'S ECONOMIC OUTLOOK BRIGHT, VIABLE TO ATTRACT FDIS to fast-track growth and development in Nigeria, and in Africa.

According to Rabiu, who is the President of the France Nigeria Business Council, the partnership will identify sustainable solutions to the issues of infrastructure, climate and industrialisation.

Speaking at the Forum in Paris, France, Abdul Samad Rabiu noted that despite the challenges occasioned by the global pandemic, African governments must work with the private sector across board to develop sustainable policies that will aid investments and innovation while financial institutions must move with the times and come up with more innovative approaches to support growth in the continent.

According to Abdul Samad Rabiu, the Nigeria Partnership Forum was timely and a welcome development – especially for Nigeria and the rest of Africa, in the face of increasing global economic uncertainty and challenges brought about by the latest global pandemic.

“Numerous opportunities for global partnerships exist across Nigeria and Africa. Key amongst this is in the infrastructure space.

By increasing our investments in infrastructure, creating access between borders, encouraging the free movement of goods and services under the AfCFTA, and opening up the continent, it is expected that supply chains will become more efficient, trade would be bolstered, new industries and industrial bases will emerge while intra-African integration would be

enhanced. All of these will ensure that Nigerians and Africans will be better off.”

“We also need to see more three-way partnerships between the African private sector, governments and Development Finance institutions to fast-track growth. I believe conversations in this important forum will touch on this topic while also challenging our approach towards the future of Nigeria and the African continent. We can all agree that there are challenges but while they may appear numerous, we cannot give up or choose to remain docile in our bid to accelerate development and innovation,” he added.

The National Security Adviser to the President, Major General Babagana Monguno (rtd); Nigeria’s Special Envoy on Chad and Lake Chad Basin, Ambassador Babagana Kingibe; Minister of Communication and Digital Economy, Dr Isa Ali Pantami; Minister of State, Petroleum, Timipre Sylva; Minister of Information, Lai Mohammed and Minister of Foreign Affairs, Geoffrey Onyeama also gave an overview on key sectors of the Nigerian economy.

Some other business leaders from Nigeria at the event included Founder and Chairman of Oriental Energy Resources, Mohammed Indimi; Chairman/Editor-In-Chief of THISDAY Group and Arise News Channel, Nduka Obiagbena; and Founder/Chairman of Zenith Bank, Jim Ovia, Chairman of Heirs Holdings and UBA, Tony Elumelu.

44

THURSDAY NOVEMBER 11, 2021 ˾ T H I S D AY

NEWS

IYC Blasts Sylva over N621.2bn NNPC Road Projects Olusegun Samuel in Yenagoa The Ijaw Youths Council (IYC) Worldwide has carpeted the Minister of State for Petroleum, Chief Timipre Sylva, for not doing enough to protect the interest of the Niger Delta region in the N621.2 billion road projects to be undertaken across the country by the Nigerian National Petroleum Corporation (NNPC).

The IYC in a statement signed yesterday by its President, Peter Igbifa, said the youths would not rest until Sylva took expected steps to remedy the injustice done to the region in the distribution of the 21 road projects.

“We find it unbelievable that a Minister, who hails from the most marginalised region and whose state, Bayelsa, lacks reasonable federal presence despite its sacrifice to the Nigerian project, would be missing at a meeting where the NNPC, which is under his ministry took a decision to share road projects at the detriment of the Niger Delta”, Igbifa said.

He added: “As we speak, Sylva does not have a road

to his Okpoma community in Brass Local Government Area of the state. The joint efforts between the Bayelsa State Government and the Shell Petroleum Development Company (SPDC) to take a road to Brass only ended in Nembe.

“The section between Nembe to Brass, the local government area of Sylva, would have been included in the NNPC project if Sylva had been alive to his duties as a minister.

There are other roads in Bayelsa, Rivers, Ondo, Edo and other states of the Niger Delta, that should have been included in the project list.

“The inequality, injustice and inequity that characterised this project distribution gives eloquent credence to allegations that Sylva and other ministers from our region do not have the interest of the Niger Delta at heart.”

The youths reminded Sylva that the NNPC owed its existence to the Niger Delta insisting that the corporation could not for the first time be undertaking such projects without paying adequate

FCTA Demolishes 100 Illegal Structures in Market Razed by Fire OlawaleAjimotokan inAbuja

Coming six days after seven persons died in a kerosine explosion in Kubwa Village, the Federal Capital Administration ( FCTA)has demolished about 100 illegal shops built in the market.

The demolition exercise was carried out yesterday the FCT Ministerial Committee on City Sanitation to correct contraventions that have constituted environmental nuisances.

Chairman of the Committee, Ikharo Attah said the FCT Minister Malam Muhammad Bello and FCT Minister of State, Dr Ramatu

Tijani Aliyu authorised the clean up stemming from their displeasure with the continued contraventions in the area to curb further losses and life threatening incidents.

Attah said the occupiers of the illegal shops were notified to quit beforehand, as many of their kiosks and illegal extension structures were removed.

“We have always been on this road axis for the past three years, trying to clean it up and we have always had intense problems.

We have cleared the road to the market which was blocked for about six years,” he said.

2022: INEC Votes N1.3bn for Funeral Grants, Christmas Bonus, Others

Deji Elumoye in Abuja

The Independent National Electoral Commission ( INEC) has voted N1.3 billion for funeral grants , Christmas bonus and severance allowances of public officers in the agency in the 2022 proposed budget which is before the National Assembly for consideration.

The vote is placed under miscellaneous in the proposed budget of the electoral body for the 2022 budget.

The line item, which is captured under staff welfare reads:” Welfare package for members and staff of the

Commission to cover funeral grants /condolence purse, first 28 days claims on first appointment/ transfers, severance allowances of Public officers, Transport allowances on retirement for career officers, Xmas / Bonus etc.

Also in the another line item, N200 million was earn marked as statutory and Electoral Audit of the Commission’s Account apart from N30 million budgeted for the Audit /Investigation support service.

Same amount was spent on same function in 2021 budget by the Commission.

In the 2022 budget proposal of INEC, N3 billion was voted

Buhari Felicitates Uncle, Mamman Daura at 82 Deji Elumoye in Paris, France President Muhammadu Buhari has felicitated with his uncle and close associate, Mallam Mamman Daura, on the latter’s 82nd birthday anniversary which was yesterday.

The president, in a personal message to his uncle yesterday, said no one deserves a happier birthday than Malam Daura, describing him “as a complete

gentleman widely respected for his scholarly pursuits and rich intellect, famous for his master strokes.”

He prayed that the celebrant be blessed with good health and happiness and continue to serve the nation, adding, “God bless you with long and healthy life”.

President Buhari further urged his uncle to stay well and continue to do the maximum for the country.

attention to, “a region it has almost rendered uninhabitable because doing so is to say the least provocative and a recipe for another violent conflict.”

Igbifa added: “We consider the

action of Sylva as a dereliction of duty, betrayal of trust and display of irresponsibility unbecoming of a minister in his capacity. We will continue to feel this way until he races

down to the region to prove us wrong.

“We are hereby asking Sylva to return to the region immediately and explain to us in a town hall meeting while he

slumbered when others shared our commonwealth. We also use the opportunity to call on NNPC to adjust the project list in the interest of peace, justice and equity.”

OMOKRI IN ICELAND…

Former President Goodluck Jonathan’s Spokesman, Mr. Reno Omokri (left) and Iceland’s Minister of Tourism, Industry and Innovation, Mrs. Bórdís Kolbrún Reykfjörð Gylfadóttir in Reykjavik where Omokri is shooting a documentary …recently

Tension in Bayelsa Community over Massive Crude Oil Leak Fire Olusegun Samuel in Yenagoa Crude oil fire caused by a massive oil spill from the well head of Aiteo Eastern Exploration and Production Company in its Santa Barbara South oil field is currently ravaging Opu-Nembe community in Bayelsa State.

The fire, which is still raging from the well head according to community sources, has

left many of the people in palpable fear, as many had fled their community over the rampaging fire.

A community source, who spoke in confidence, said the well head from one of the oil exploration companies had emanated serious hydrocarbon into the environment before it caught fire yesterday night.

He said: “The people of Opu-Nembe need serious

environmental and medical attention. You can see there’s a boom line but the boom line set up by Aiteo cannot put out the fire, it has gone to the highest level of hazard.”

Confirming the fire and spill incident, Aiteo, operator of the NNPC /Aiteo Joint Venture on OML 29, last Friday reported that an oil spill from a nonproducing well head in its Santa Barbara South field has caught fire.

A statement signed by the Head of its media team, Ndiana Mathew, said the magnitude of the incident is extremely high.

According to him, “Neither the cause of the spill nor the quantity of leaked hydrocarbon could be determined at the time of the discovery, although containment booms were deployed and recovery commenced immediately around the well head.

Osun’s N2.7bn Flyover Bridge will be Completed on Time, Says Commissioner Yinka Kolawole in Osogbo The Osun State Commissioner for Works and Transport, Mr. Oluremi Omowaiye, has assured the residents of the state that the ongoing iconic Olaiya Flyover Bridge would be completed at the stipulated time.

Omowaiye said the bridge, which was started about eight months ago, has unprecedentedly reached 80 percent completion.

He added that the bridge

would be completed without compromising standards of any sort.

Omowaiye made this known while fielding questions from journalists in his office in Osogbo.

The commissioner said that the contractors handling the project had been working assiduously to ensure that they meet up with the deadline.

He, however, hinted that the esthetics and modifications of the bridge environment might cause a little delay.

“But all the civil works will be completed at the said time.

We just want to introduce additional features.

“I want to assure everyone that the flyover is going to have a lot of esthetics. There is going to be a lot of esthetics at the corridor and this may drag the finishing of the project to December. But all the civil works will be completed at the said time. We just want to introduce additional features.

“All in all, I can assure you that by the end of the year,

the flyover will be ready for vehicular movement.”

He, however, discarded the insinuation that the bridge is too narrow to contain two cars.

Omowaiye said: “The width is about 10 and average of a vehicle’s is 2.5/2.3; so that’s what’s required for that place.

Go and look at the bridge in Mokola, go and look at the one in Ikeja; they are not even as wide as ours under discourse here. That the opposition is saying something does not mean that it is right.

Dons Charge FG to Tackle Insurgency Frontally Ibrahim Oyewale in Lokoja

Worried by the high rate of insurgency and its attendant consequence on the people of the country , the University academia have lent their voices to spate of killings, Kidnappings, armed robbery that have become order of the day in several parts of the country , calling government to tackle them frontally.

They also urged the federal government to be seen addressing the insurgency,

armed banditry and ethnoreligious issues that are currently debilitating the fabric of Nigeria.

The University dons made this call while presenting position papers at a national conference organised by the Department of History and International Relations Studies in honour of Professor Toyin Falola at the 5th Convocation of Federal University, Lokoja yesterday.

The theme of the conference is: ‘Insurgency , armed banditry and ethno religious conflicts in the central Nigeria.’

The key note speaker, Professor Yakubu Ochefu submitted that if urgent actions were not taken now the future of the country is very bleak because of new dimension the issue of insecurity is currently taking.

Ochefu, who was represented

by Professor Patrick Tsarkar, highlighted the historical perspective of the insurance from time immemorial and boost in agriculture which led to demand for land and to the present day climate change

that aggravated movement by pastoralists.

In his presentation , Professor Shola Omotola described ethno religious conflicts as complex identity crisis with ethnic and religious loyalist are interrelated and justly reinforced sources or motivation of complicity.

Omotola also pointed out that a total 18, 638 incidents had occurred in the Central Nigeria with a fatality rate of 79,844 deaths, saying that the situation is becoming worrisome.

Medical Council Indicts Three Doctors over Death of Celebrity Wale Igbintade The Medical and Dental Practitioners Council of Nigeria has found a prima facie case of professional misconduct against three Premier Specialist Hospital doctors regarding the death of celebrity. chef Adepeju Ugboma.

The doctors are: Akiseku Adeniyi Kazeem, Kelechi

Kingsley Renner and Motunrayo Amadu of Premier Specialist Hospital.

The indictment was the outcome of an investigative panel set up by the Council to consider a petition filed by Mr. Ijoma Ugboma, the husband of the deceased.

The panel reached the decision at its just-concluded

10th session, which was held on October 28, 2021.

The report was signed by the Council’s Secretary, Dr. E. D. Abudu.

The panel further referred the three doctors to the Medical and Dental Practitioners Tribunal for trial.

Olisa Agbakoba Legal (OAL), lead counsel to the Ugboma

family, represented the Petitioner at the Panel.

OAL also requested a coroner’s Inquest into the death of Mrs. Ugboma to investigate her family’s allegations of medical negligence against Premier Specialist Medical Centre.

The Inquest is ongoing at the Magistrate Court Ogba, Lagos.

THURSDAY NOVEMBER 11, 2021 ˾ T H I S D AY

45

NEWS XTRA

Marwa Wants ‘Option of Fine’ Clause Removed from NDLEA Act Michael Olugbode in Abuja Chairman/ Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (rtd) has called on the National Assembly to remove the clause that allow the option of fine on drug offenders.

The anti-narcotics czar told the lawmakers that the removal of the clause that allows for the option of fine for drug offenders from the NDLEA’s Act currently undergoing amendment in the National Assembly will strengthen the deterrence effect of court prosecution and conviction.

Marwa stated this in his remarks yesterday while defending the 2022 NDLEA budget proposal before the Senate Committee on Drugs and Narcotics chaired by Senator Hezekiah Dimka.

He said though he had visited the Chief Judge of the Federal High Court of Nigeria, Justice John Tsoho, on the issue of ridiculous options of fine given to some drug traffickers, he however said the removal of the clause that allows judges use discretionary powers to give

options of fine would resolve the jigsaw.

Marwa, while defending the N38.1 billion appropriated for the agency in the 2022 budget proposal, said the allocation may not solve all the problems facing

the agency, but added that it is a great improvement on the previous budgets.

He said: “And as such, we want to thank President Muhammadu Buhari, the Finance Minister, Attorney

General and Minister of Justice and more importantly, the leadership of the National Assembly and this esteemed Committee on Drugs and Narcotics for giving us all the support we need to make the

progress being talked about today.”

In his opening remarks, Chairman of the Committee, Senator Hezekiah Dimka congratulated Marwa “for the successes recorded by the

agency since his assumption of office”, adding that “there is no doubt that his approach and manner of operations to the fight against drug trafficking and abuse on our shores is extraordinary.”

CRAWFORD UNIVERSITY CONVOCATES…

L-R: Members of Board of Trustees, Crawford University, Igbesa Ogun State, Mrs. Folake Okor; Prof. Modupe Asokhia; Ambassador James Sunday Olaleye; Mr. Olajide Yesufu; Rev. Umaruddeen Olowoshile and Mr. Paul Ajetunmobi, at the university’s 13th convocation ceremony in Igbesa… recently

Senate Mourns 120 Ekiti Spends N16bn on Basic Education in 30 Months, Says Fayemi Nigerians Allegedly Killed

By Bandits in Sokoto Victor Ogunje in Ado Ekiti

Deji Elumoye The Senate at plenary yesterday observed a minute silence as it mourned the alleged killing of over 120 Nigerians by bandits at the Gorony market in Sokoto State.

This was sequel to the adoption of a point of order raised on the incident by Senator Ibrahim Gobir, who claimed the victims were massacred by bandits on Sunday, October 17, 2021.

Coming under Order 43 – Personal Explanation – of the Senate Rules, Gobir said, “on Sunday, 17th October, 2021, Gorony market was attacked, and about 120 plus people killed.

“The terrorists came to the market and started shooting every person they saw in the

market.”

He disclosed that in seven villages within some local government areas of the state, residents were compelled by bandits to pay levies between N1 million and N20 million.

Gobir listed the affected villages to include: Kwarangamba, Garki, Danadua, Katuma, Kurawa and Dama.

He lamented that failure to meet the demand imposed by the bandits in the affected areas had severally led to the killing of the villagers.

The ranking Senator expressed frustration that in spite of consistent pleas to security agencies to come to the rescue of the affected communities, nothing had been done so far by the military and police to intervene in the plight of the people.

Court Sentences Man to Six Months Imprisonment for Cyber Fraud in Ilorin

Hammed Shittu in Ilorin

A Kwara State High Court in Ilorin yesterday convicted a 25-year-old man, Mr. Ayeni Peter Oluwatofunmi, for impersonating a white America female, Daina Patrick, to swindle unsuspecting victims in cybercrime.

The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) had secured the conviction of Oluwatofunmi for impersonation.

The offence is contrary to Section 321 of the Penal Code Law and punishable under Section 324 of the same law.

The defendant was prosecuted on one count to which he pleaded guilty.

Upon the ‘guilty plea’ by

the defendant, counsel to the EFCC, Rashidat Alao, called a witness, who narrated how credible intelligence led to the arrest of the defendant.

The witness, who is an operative of the commission tendered several fraudulent messages printed from the device of the defendant, which the court admitted in evidence.

Alao, thereafter, urged the court to consider the plea entered by the defendant, his extra-judicial statements, the testimony of the sole prosecution witness and exhibits tendered to convict the defendant as charged.

Delivering his ruling, Justice Mahmud Abdulgafar held that: “The court is satisfied that the prosecution has proved its case beyond reasonable doubt.”

The Ekiti State Governor, Dr. Kayode Fayemi, has disclosed that his administration had spent N16 billion to develop basic education in the state by building new schools, renovating older ones and building capacity of teachers.

Fayemi stated this in AdoEkiti yesterday while receiving a delegation from the Universal Basic Education Commission (UBEC) led by its Executive

Secretary, Dr. Hamid Bobboyi.

He also affirmed that the state increased in primary and secondary schools enrolment by 40,000 and 25,000 respectively within the first two and a half years of his administration.

The governor, who commended the executive secretary of the UBEC for the great job the commission was doing, described Bobboyi as an exemplary administrator who has used critical initiatives to deliver on the assignment given

to him.

Fayemi also said that his administration had to pay N8billion in order to access N16 billion, and stressed that the intervention has been very helpful to the state in the giant strides it has recorded in the area of basic education development.

He noted that the state dropped from the first position it occupied in 2014 to the last position in 2018 because the immediate past administration

in the state neglected the development of basic education.

The governor, however, said that he is happy that the state has bounced back to its enviable position in the South-west and the entire country within a period of two and a half years that he returned to office.

He said that his administration would continue to make schools easily accessible to all Ekiti children no matter without walking a long distance as provided by UNESCO.

Obaseki Appoints Ihenyen, 72 Other Aides Adibe Emenyonu in Benin City Governor Godwin Obaseki of Edo State, Wednesday appointed Princess Philomena Ihenyen as Political Adviser (Edo Central District) This brought the number of special advisers appointed so to 12 following the earlier

appointment of 11 last month.

Obaseki also appointed 72 Senior Special Assistants (SSAs) Special Adviser (SAs), all from the same district.

The appointees are made up of 21 Senior Special Assistants, while 51 are Special Assistants.

All the appointments were contained in a statement endorsed by the Secretary

to State Government (SSG), Mr. Osarodion Ogie.

In the statement, Ogie said the appointments followed the harmonisation by party leader the party across all the wards in the five local government areas in the central district.

According to him, “Following the harmonisation of leaders of the ruling Peoples

Democratic Party (PDP) across all the 51 wards of Edo Central Senatorial District, His Excellency, Governor Godwin Obaseki, has approved the appointment of Princess (Mrs) Philomena Ihenyen as Political Adviser (Edo Central), as well as the underlisted Senior Special Assistants and Special Assistants.”

Ogun Mulls Law against Illegal Felling of Economic Trees James Sowole in Abeokuta Ogun State Government is set to enact a law to ensure that illegal tree fellers and economic saboteurs operating in government forest reserves across the state are prosecuted, fined and imprisoned.

The state Governor, Dapo Abiodun, disclosed this during the Treasury board meeting on the 2022-2024 Medium Term Expenditure Framework

(MTEF) and the 2022 budget held in Abeokuta.

Abiodun said his administration would commence an advocacy programme on radio and television that would enlighten the people on the consequences of their actions in the forest reserves.

According to him, “Illegal tree fellers must be made to realise the consequence of their actions in terms of the

environmental impact.

“We need to look at the law that would provide stiffer penalties for those caught doing this, and I think we need to step up advocacy, a massive one and warnings that if you are caught cutting down economic trees, we will descend on you with the full wrath of the law.

“So I think that we will be stepping up on television and radio to criminalise this

act, and let the people know that the consequences of this act is a particular term of imprisonment and fine or both.”

Abiodun, who also added that there was need to show those people caught illegally operating in or destroying the forest reserves on television, posited that airing them on television would gradually make others involved in the act understand the message.

Piracy: Okowa Urges Navy to Strengthen Efficiency Sylvester Idowu in Warri Delta State Governor, Senator Ifeanyi Okowa, has tasked the Nigerian Navy to strengthen its operational efficiency by ensuring piracy and other unwholesome activities are nipped in the bud in the maritime sector of the economy.

Okowa gave the task yesterday when he received

the Chief of Naval Staff, Vice Admiral Awwal Gambo, and his delegation at the Government House in Asaba.

The governor noted that he was impressed with the operational performance index of the naval personnel in the state, but affirmed that with sustained surveillance and peace, Delta, as a coastal state, would increase its contribution

in crude oil production to the national treasury.

According to him, “I welcome you to Delta State. I want to thank you also for this visit.

There is no doubt that Delta is a very important coastal state, particularly because it is a major producer of crude oil in our country.

“I want to thank the navy for the efforts they have put in

consistently in helping to secure our state and even working with other sister security agencies in securing our lands.

“So, we want to appreciate you for the good work you are doing in the state. We are aware that you work with a lot of our people who assist in area of intelligence to carry out your various surveillance activities.

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

46

THURSDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Osimhen Dismisses Fears over Ighalo’s Recall from Retirement I see him as my big brother and still have a lot to learn from him W O R L D C U P Q UA L I F I E R S

Duro Ikhazuagbe

Super Eagles forward, Victor Osimhen, has dismissed fears in football circles in the country that the return of AFCON 2019 top scorer, Odion Ighalo, to the senior national team was going to create rancour.

Rather, the Napoli of Italy talisman, described Ighalo’s ‘second missionary journey’ to Eagles as going to pay off well for Nigeria.

Speaking in Tangier, Morocco after Wednesday’s training ahead of Nigeria’s clash with Liberia on Saturday, Osimhen said: “It’s good for the team. The coach and the federation know what is the best for the team. We welcome him (Ighalo) with open arms and we look forward to receiving him in camp.”

Osimhen, 22, restated his deep respect and admiration for the former Manchester United’s star.

“Like I said before , he (Ighalo) is like a big brother to me and I like him so much. I learn a lot of things from him and it is important to have him in the team.

“We all have a common goal to qualify for the World Cup and do well at the AFCON. Whatever

is good for the team, I think the coach and the federation will bring it into play,” stressed Osimhen in the interview with NFF TVin Morocco.

Ighalo, who currently plays Professional Football League with Saudi Arabia’s Al Shabab is being expected in camp today.

He was earlier scheduled to hit camp yesterday but when he didn’t show up, the social media was abuzz with speculations that Ighalo may have changed his mind about returning to the squad he voluntarily quit two years ago after helping Nigeria to win the bronze of AFCON 2019 as top scorer.

Spokesman of the team, Babafemi Raji however confirmed last night that Ighalo and Enyimba’s goalkeeper, John Noble were expected to arrive Morocco before noon.

Super Eagles on nine points will consolidate with victory over Lone Star of Liberia on Saturday. Should Cape Verde drop point against the Blue Sharks of Central African Republic in the group’s other game, Nigeria would have qualified for the final playoff with a game to spare just like in the last edition.

CBN Governor’s Golf Tourney Tees off in Abuja Nov 13 Olawale Ajimotokan in Abuja

The Central Bank of Nigeriasponsored Governor’s Golf Tournament will tee off on Saturday, November 13, 2021 at the IBB International Golf and Country Club, Abuja.

The CBN Director, Corporate Communications, Mr. Osita Nwanisobi, made the confirmation in a statement issued yesterday.

The tournament now in its 14th edition is a one-day event to be competed for in different categories in both the Men’s and Ladies’ divisions.

It is a stroke play, shotgun format, where all competing golfers will tee off simultaneously from different points on the golf course and finish about the same time.

A breakdown of the Men’s category indicates that golfers will compete in the Division 1, (Handicap 0 -12); Division 2, (Handicap 13 –18); Division 3, (Handicap 18 – 24) and Gross.

In the Ladies’ category, the golfers will compete in the Division 1, (Handicap 0 - 20) and Division 2 (Handicap 21 – 30), among others.

Nwanisobi said the objective of the CBN Governor’s Tournament was to create a relaxed and recreational atmosphere for distinguished personalities in government, the organised private sector, elder statesman and members

of the Diplomatic Corps’.

He noted that the tournament, which had become a staple in the calendar of the IBB Golf Club, would be held in strict adherence to the approved code and protocols issued by the Presidential Steering Committee on COVID-19.

He pleaded with participants to maximise the opportunities being provided by the country’s apex bank in developing their talents since the CBN is committed to continuous sponsorship of the annual Golf Tournament that will feature 160 players.

Victor Osimhen (right), has restated his admiration for Odion Ighalo, insisting that the return of the AFCON 2019 top scorer remains a blessing to Super Eagles

Ajegunle Football and Sports Stars to Be Honoured Dec. 4 In the bid to celebrate the exceptional contributions and accomplishments of footballers brought up in Ajegunle, a sprawling ghetto part of Lagos, Kobis Global Multidimensional Projects Limited is set to host the maiden edition of it's Ajegunle Football and Sports Golden Award to honour present and past heroes of the community.

The expected awards ceremony scheduled to hold on December 4, 2021, at the prestigious Abayomi Hall in the Orege area of Ajegunle, will honour 22 of these sports stars.

According to the award

organiser and Chief Executive Officer (CEO) of Kobis Global, Prince Ogaga Wowo, the awards ceremony was long overdue.

"The Ajegunle Football and Sports Golden Award is conceived out of a long overdue imperative to properly recognise and immortalise the heroics and immense contributions of our indigenous sports personalities, who have distinguished themselves with the “AJ Brand" both locally and internationally."

Wowo stressed that the award “is a celebration of our very rich football and sports heritage. We want to revive

the traditional AJ creed of excellence, education, creativity, innovation, entrepreneurship, community service, peaceful coexistence, and unity through sports.”

He admitted that part of the aim of the awards ceremony is to further stimulate and attract vital investments from within and outside the country into the “Agegunle sporting economy."

Prince Ogaga Wowo who is also the proprietor of Kobis global football Club said the award will not be a one off thing.

"This Award is going to be a biennial event so that we can have enough time to gather enough information and proof of contributions and positive impact of the awardees,” he further hinted.

As seen in almost all awards nights across the globe, the Ajegunle Football and Sports Golden Awards will feature musical entertainments as well "Special performances from A-list artists in Ajegunle like Oritse Femi and the likes will be on stage to perform.

"The award is going to be an all black tie event. Its going to

be filled with class and glamour and executives from Lagos State Footbal Association will be in attendance.

Amongst some Nigerian football Stars with link to AJ include; Samson Siasia, Odion Ighalo, Monday Odiaka, Peter Nieketien, Tarila Okorowanta, Jonathan Akpoborie, Ifeanyi Udeze, Prince Ikpe Ekong, Emmanuel Amuneke, Gabriel Okolosi and Edema Benson.

Others include; Alfred Poto, Ambrose Duru, Samson Ajighevi, Tony Donwa, Stephen Abarowei, and Mathias Enebeli amongst several others.

47

THURSDAY, ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Brazil, Argentina May Pick Qatar 2022 Tickets Tomorrow

Brazil host Colombia in Sao Paulo in the early hours of tomorrow knowing victory will book their ticket to Qatar with six 2022 World Cup qualifiers to spare following a near perfect record so far.

Even a draw for the Selecao would be enough if Uruguay lose at home to Argentina on Friday, and Brazilian media have reported that coach Tite is already planning to head to the Arab Cup in Qatar next month to check out World Cup venues and facilities.

Publically, though, Tite is not getting ahead of himself with a trip to face arch rivals Argentina in San Juan on the horizon next week.

"We have two important matches against two teams that, for me, are of the highest level," said Tite.

"A good performance and a good result against Colombia will provide us with a good preparation for Argentina."

Tite caused a surprise by recalling

WORLD CUP QUALIFIERS Barcelona's Philippe Coutinho to his squad after more than a year out, largely due to a nine-month absence with a knee injury that required three surgeries.

"It feels like it did the first time, that's how I see it every time I'm in the squad. It's an honor to wear this jersey," said Coutinho, who has struggled for playing time this season at his club.

Brazil have dominated the single CONMEBOL World Cup qualifying group, winning 10 of their 11 matches and scoring 26 goals.

Their only blemish was a 0-0 draw away to Colombia last month that brought to an end a nine-match winning run.

Another tight game is likely against a team on a run of three consecutive goalless draws.

Colombia welcomed back playmaker James Rodriguez for

the first time in a year despite his ignominious start to life at Al-Rayyan, his new Qatari club.

Last month, in only his third league match since leaving Everton, the former Real Madrid and Bayern Munich player was bizarrely sent off after picking up two quickfire yellow cards for protesting after he was awarded a free-kick.

James's inclusion is a welcome boost for Colombia, who will be without injured veteran striker Radamel Falcao.

Colombia are currently locked in a tight battle to qualify automatically for the World Cup alongside Ecuador and Uruguay.

The three sides are separated by a single point in the battle to finish in the top four places, with the fifth-placed finishers heading into an inter-confederation play-off.

Like Brazil, second-placed

Brazilian Neymar (left) and his Argentine PSG teammate, Lionel Messi, are set to pick tickets to the World Cup in Qatar tomorrow Argentina could also secure qualification this month, although they would need other results to go their way.

And they may have to do without star player Lionel Messi, who is suffering from knee and hamstring problems and has missed his club Paris Saint-Germain's last two matches.

After their trip to Uruguay, Argentina, unbeaten in 25 matches, host Brazil next week and victories in both could be enough to book their ticket to Qatar.

Uruguay, though, will be out for revenge after their 3-0 capitulation in Buenos Aires last month.

They will be without injured Manchester United forward Edinson

Cavani, although Atletico Madrid's Luis Suarez has traveled back to South America.

Having also crumbled 4-1 away to Brazil last month, iconic Uruguay coach Oscar Tabarez finds himself under pressure, with many fans believing the 74-year-old's recordbreaking 15-year tenure should come to an end.

He will also have to do without Real Madrid's Federico Valverde amongst eight absentees.

Free-scoring Ecuador, in third, will look to bolster their qualification hopes as they host rock-bottom Venezuela on Thursday, before a trip to Chile next week.

Only Venezuela appear out of the qualification picture, sitting nine points behind the top five, although Chile, Paraguay, Peru and Bolivia have some ground to make up with just six qualifiers left.

Crucially, Paraguay host Chile and Peru entertain Bolivia on Thursday in must-win matches

THE STANDINGS

South Africa’s Bafana Bafana at training ahead Group G clash with Zimbabwe tonight

Battles for Places in Africa's Final Play-offs Return Today The second stage of African qualifying for next year's World Cup in Qatar reaches its culmination over the next week, with games taking place between today and next Tuesday.

Eight teams are looking to join

FIXTURES Today Ethiopia v Ghana Uganda v Kenya Tanzania v DR Congo Congo v Namibia Rwanda v Mali Benin Rep v Madagascar Togo v Senegal S’Africa v Zimbabwe

Friday Djibouti v Algeria B’Faso v Niger Gabon v Libya Guinea v G’Bissau Sudan v Morocco Angola v Egypt

Saturday Malawi v Cameroon Zambia v Mauritania Liberia v Nigeria E’Guinea v Tunisia CIV v Mozambique

Morocco and Senegal in the two-legged playoffs next March, when the continent's five representatives in Qatar will be determined.

With several players sidelined by injury, a couple returning after long absences and several countries forced to play on neutral soil, below here are some of the fixtures of those seeking to join Morocco and Senegal who have booked their berths in the final play offs.

Morocco, captained by Wolves' Romain Saiss, and Sadio Mane's Senegal can breathe easy after securing passage though the group stage with two games to spare. Only the eight other group winners will join them in the play-offs.

Mohamed Salah's Egypt have a four-point cushion over nearest challengers Libya after back-to-back victories over their north African neighbours last month.

The Pharaohs know one win from their final two matches against Angola and Gabon will take them to the third and final stage of qualifying as they bid to reach a second straight World Cup. However, surprise package Libya could still qualify if they take maximum points in matches against the same opposition and

Egypt fail to win their remaining two games.

Tunisia have a three-point lead over Equatorial Guinea in Group B, and the Carthage Eagles will guarantee passage to the play-offs with an away win against the west Africans on matchday five.

As Tunisia have a far superior goal difference, Mondher Kbaier's side could still top the group even if they lose.

October's results have left several groups finely poised, with six winner-takes-all showdowns possible in the final round of qualifying.

In Group A, Africa Cup of Nations holders Algeria, led by Manchester City's Riyad Mahrez and unbeaten in 31 matches, are ahead of Burkina Faso on goal difference alone, with the two countries meeting in north Africa after they face Djibouti and Niger respectively.

The Burkinabe, however, have lost home advantage and will face Niger in Morocco after being included on a list of countries whose home stadia were deemed unfitto host qualifiers.

In Group C, Nigeria’s Super Eagles are two points in front of Cape Verde in after the three-time African champions suffered

a shock home defeat against Central African Republic.

Nigeria’s German handler, Gernot Rohr has lured former Manchester United striker Odion Ighalo out of international retirement as Eagles play Liberia in Morocco on Saturday and Cape Verde entertain CAR. Super Eagles will host the islanders in the final round of the group stage in Lagos on Tuesday.

Ivory Coast lead Cameroon by a point in Group D. If both countries win on matchday five, with the Ivorians 'hosting' Mozambique in Benin and Cameroon taking on Malawi in South Africa, the Indomitable Lions will need to beat the Elephants at home to progress.

Experienced Elephants forward Gervinho is out with a long-term injury, while Bayern Munich striker Eric Maxim Choupo-Moting will reportedly miss Cameroon's first game after coming into contact with someone who tested positive for Covid-19.

Ajax goalkeeper Andre Onana could also make his first appearance for the Indomitable Lions in a year, having sat out most of 2021 because of a doping ban.

Osadenis Mixed Sec. School, Three Others Qualify for Semis Semifinalists have emerged in the 2021 edition of the Delta State Principals’ Cup football competition sponsored by Zenith Bank Plc. In the last eight matches played on Tuesday, Osadenis Mixed Secondary School, Asaba defeated Igumbor-Otiku Secondary School, Agbor by a lone goal at Ogwash- Uku Stadium while Alaka Grammar School, Ozoro defeated Ashaka Mixed Secondary School, Ashaka 4-2 at Kwale Stadium.

At the Government College Sports Arena, Ovwor Mixed Secondary School, Ovwor, defeated Ogbe-Ijoh Secondary School, OgbeIjoh, 2-1 to book a semifinal berth just as

Team.

Algeria.

B’ Faso Niger.

Djibouti

P. 4.

4.

4.

4.

Group A W. D. L. F. 3. 1. 0. 19.

3. 1 0. 9.

1. 0. 3. 5.

0. 0. 4. 2.

A. GD. PTS 2. 17. 10 1. 8. 10 14. -9 3 18. -16 0

Team.

Tunisia E’Guinea Zambia.

Mauritania

P. 4.

4.

4.

4.

Group W. D. L. 3. 1. 0.

2. 1 1 1. 1. 2.

0. 1. 3.

B F. 8.

4 3.

1.

A. 0.

4 6.

6.

Team.

Nigeria C’ Verde CAR. Liberia.

P. 4.

4.

4.

4.

Group W. D. L. 3. 0. 1.

2. 1 1 1. 1. 2.

1. 0. 3.

C F. 6.

5.

2.

2.

A. GD. PTS 2. 4. 9 4 1. 7 4. -2. 4 5. -3. 3

According to the organisers, Hideaplus Nigeria Limited, the two semifinal matches will take place on Monday November 15 at the same time.

CEO of Hideaplus, Tony Pemu, stated that all arrangements are in place for the teams to enjoy an enabling template good enough for the best teams to emerge for final.

He also added that the final earlier scheduled for November 25 would now take place on November 26 at the Stephen Keshi Stadium, Asaba.

PTS 10 7 4 1

Team.

P. Côte d’Ivoire 4.

Cameroon 4.

Malawi 4.

Mo’bique 4.

Group D W. D. L. F. 3. 1. 0. 7.

3. 0. 1. 7.

1. 0. 3. 2.

0. 1. 3. 1.

A. GD. 2. 5.

3. 4.

7. -5.

5. -4.

Team.

Mali. .

Uganda Kenya Rwanda

P. 4.

4.

4 4.

Group W. D. L. 3. 1. 0.

2. 2. 0.

0 2 2 0. 1. 3.

E F. 7 2.

1 1.

A. GD. PTS 0 7 10 0 2. 8 7 -6 2 4. -3. 1.

Team.

Egypt.

Libya.

Gabon.

Angola

P. 4.

4.

4.

4.

Group W. D. L. 3. 1. 0.

2. 0. 2.

1. 1. 2.

1. 0. 3.

F F. 6.

3.

5.

3.

A. 1.

5.

6.

5.

Team.

S’Africa.

Ghana Ethiopia Zimbabwe

P. 4.

4.

4.

4.

Group G W. D. L. F. 3. 1. 0. 5.

3. 0. 1. 5.

1. 0. 3. 2.

0. 1. 3. 1.

A. GD. PTS 1. 4. 10 2. 3. 9.

5. -3. 3.

5. -4. 1.

Team.

Senegal Togo.

Namibia Congo

P. 4.

4.

4.

4.

Group H W. D. L. F. 4. 0. 0. 12.

1. 1. 2. 3.

1. 1. 2. 4.

0. 2. 2. 4.

A. GD. PTS 3. 9. 12.

5. -2. 4.

8. -4. 4.

7. -3. 2.

Team.

Morocco G’Bissau.

Guinea.

Sudan.

P. 4.

4.

4.

4.

Group W. D. L. 4. 0. 0.

1. 1 2.

0. 3. 1.

0. 2. 2.

I F. 14.

5 5.

5.

A. 1.

11.

8.

9.

Team.

P. Tanzania. 4.

Benin.

4.

DR Congo. 4.

M’gascar 4.

Group W. D. L. 2. 1. 1.

2. 1. 1 1. 2. 1.

1. 0. 3.

J F. 5.

3.

4.

3.

A. GD. PTS 4. 1. 7.

2. 1. 7 3. 1. 5.

6. -3. 3.

ZENITH/DELTA PRINCIPALS’ CUP

College of Commerce, Warri, came back from one goal down to defeat Umukwata Secondary School, Umukwata, 4-1 at the Baptist High School, sports field, Eku. The semifinal draw took place yesterday with Ovwor Mixed Secondary School, Ovwor taking on defending champions, College of Commerce, Warri at the Valley Stream British Academy, Sapele while Kwale Stadium, Kwale, will host the other semifinal between Osadenis Mixed Secondary School, Asaba and Alaka Grammar school, Ozoro.

GD. 8.

0 -3.

-5.

GD. 5.

-2.

-1.

-2.

GD. 13.

-6.

-3.

-4.

PTS 10 9.

3 1.

PTS 10 6 4 3

PTS 12 4 3.

2

Thursday, November 11, 2021

TR

UT H

& RE A S O

N

Price: N250

MISSILE

Bello-Barkindo to Abubakar Malami “The undue haste with which the statement was issued even before the service on the AGF of the court processes, and the order restraining the federal government, seems to suggest that there is a special relationship between his office and the consultants over and above Nigerian citizens, whose interest the AGF as the chief law officer of the federation, is statutorily bound to always protect” ––Nigeria Governors’ Forum (NGF) spokesman on the controversial $418m refund request by some consultants.

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Sanwo-Olu’s 360 Degrees Wahala U ntil last week Monday, I had never heard the name Femi Osibona. But within a few hours of the collapse of his Ikoyi 21-storey building in Lagos, I came to learn a great deal about the late proprietor of the ‘360 Degrees Towers’. From the ‘prophetic laying of hands’ that catapulted a man selling shirts on the streets of London to a multi-billionaire global property developer, to tales about serving as a front for Abuja politicians, religious bigotry and business sharp practices, the ‘biography’ of Osibona is now in the public arena.

And it doesn’t seem to matter that everything we ‘know’ about Osibona are from single stories at a period he is no longer around to defend himself.

I never met Osibona so I have no way of disputing what has been said or written about him. For the record, I am also concerned that someone could be undertaking gigantic building projects without the necessary support systems that come with organized business structures and I find the videos of his altercations with Lagos authorities quite disturbing. However, I still believe that a little empathy and sensitivity will serve us in times like this, especially when we do not have all the facts.

Meanwhile, barely 24 hours after the Ikoyi building came down in rubble, Governor Babajide Sanwo-Olu ordered the indefinite suspension of the General Manager, Lagos State Building Control Agency (LASBCA), Gbolahan Oki. But not before Oki had made some chilling revelations. “He (Osibona) got approval for a 15-storey building and he exceeded his limit,” Oki told the News Agency of Nigeria (NAN) on the telephone, shortly after the building collapsed. “I am on ground here and the materials he used, the reinforcement, are so inferior and terrible.”

Sadly, this is a tragedy foretold. Less than three months ago, specifically on 23rd August this year, the University of Witwatersrand, South Africa, published an article by Olasunkanmi Habeeb Okunola, a Nigerian postdoctoral fellow at the Global Change Institute. In ‘Building Collapses are all too Common in Lagos. Here’s Why’, Okunola revealed that 152 buildings collapsed in Lagos between 2005 and 2020, comprised of 76.6% residential, 13% commercial and 9.4% institutional. With data from architects, builders, structural engineers, town planners, estate surveyors and valuers, Okunola wrote that “most of the buildings that collapsed are typically multi-storey buildings,” with more than 4,000 families rendered “homeless and traumatised.”

Although Sanwo-Olu has constituted the usual probe panel on the collapsed Ikoyi building, few Nigerians believe that anything will come of the exercise. In 2014, we experienced a similar (and bigger) tragedy at the Synagogue Church of All Nations (SCOAN). The Lagos Coroner’s Inquest returned a verdict that indicted the church for “criminal negligence” and recommended prosecution for the death of 116 persons. According to the Coroner’s Court, presided over by Chief Magistrate Oyetade Komolafe, the Church did not obtain the necessary permit or approval before commencing construction of the building. Of the 116 victims, 85 were South Africans, 22 Nigerians, two Beninoise and two Togolese. Six could not be identified. In typical Nigerian fashion, the ‘crime scene’ became a pilgrimage for prominent people, including then President Goodluck Jonathan, who paid solidarity visits to commiserate with the church promoter, late Pastor T.B. Joshua!

However, the more bizarre incident occurred

Sanwo-Olu two years later, in March 2016, when a five-storey building collapsed in Lekki, claiming over 30 lives.

Then Governor Akinwunmi Ambode made the usual noise and dance before the state filed a six-count criminal charge against the Managing Director of Lekki Gardens, Richard Nyong and seven others. With the matter out of public glare, a ‘plea and sentence agreement’ was signed for the developer to pay N100 million to the state government and N10 million each to families of five victims, to discontinue the case. Unfortunately for the dealmakers, the trial Judge at the Ikeja Division of the state High Court was incensed when the case came before her in February last year. In addition to condemning the fact that the scandalous agreement was drawn up between the state government and the developer without representatives of the said families, Justice Sybil Nwaka faulted the amended charge for omitting criminal aspects of the original charges.

The amended charge, according to Justice Nwaka, “is talking just about the failure to obtain building permits and other building approvals. The amended charge did not contain negligence, loss of lives and others (which were in the original charge filed

by the Lagos State government). Many lives were lost, breadwinners of many families,” she said.

When the developer’s lawyer sought to justify the agreement, Justice Nwaka asked, “Are you saying you are paying more to the state government than the deceased families? Five families will get N50 million while the state will get N100 million?”

Justice Nwaka deserves commendation for her courageous stand. And Lagos State should be ashamed. Collecting blood money from a building promoter whose criminal negligence led to the death of innocent people is unconscionable.

‘Pay-as-you-kill’ cannot be an acceptable way to deal with the systemic problem around building and construction regulations that engender serial disasters.

I understand that land is a scarce commodity in Lagos. As I wrote in a recent column, Niger State alone is 23 times the size of Lagos in land mass. To worsen matters, the small space within Ikoyi is where Lagos Big Boys and Girls want to congregate. It is the ultimate status symbol outside ‘Banana Island’—easily the most expensive slum to be found anywhere in the world. Especially during rainy season! So, there will always be high-rise buildings in Lagos. The challenge is that due to a glaring regulatory failure, quacks are taking over the building sector. Not only in the state but all over Nigeria, to our collective detriment.

Meanwhile, I am an admirer of Governor Sanwo-Olu who is always on top of situations whenever duty calls. But the conventional wisdom that it is better to erect a fence at the top of a cliff than to build a hospital below will serve him at this period. The Ikoyi tragedy should compel a more rigorous introspection than a four-week perfunctory probe. There are several issues to examine and address. The first is about response to emergencies. One can only imagine the agony of victims trapped for hours under the fragments of concrete and mangled rods in Ikoyi. As well as the trauma experienced by their families in the intervening period. We can do better than that.

The second is the dignity of those who lost their lives. We are not the only country where people have mobile phones with cameras. But here, security personnel and first responders are more interested in taking pictures of those in distress than in helping them. Some of the gory photographs from the collapsed building are a sad commentary on the value we place on human life in Nigeria and there must be a

way to stop such callous and irresponsible acts.

The third and most important issue is that of regulation. Ordinarily, building construction should be managed by qualified professionals whose duty it is to ensure that everything is done in accordance with approved plans and standards while paying attention to necessary details, including the quality of materials being used.

In my September 2015 column, ‘Catalogue of Made-in-Nigeria Tragedy’, I examined some of the cheap deaths in Nigeria: Electrocution from dangling power cables, emission of carbon monoxide from ‘I-better-pass-my-neighbour’ generator fumes, heavy duty containers skidding off bridge to land on vehicles below, explosion of petrol tankers on the highway, over-the-counter sale of prescription drugs, capsizing of overcrowded canoes on waterways, incessant collapse of buildings etc. Behind these tragedies is the near absence of safety standards in most areas of public exposure in Nigeria today.

We cannot continue to run our affairs like that.

On Monday, the Lagos State House of Assembly expressed concern “over the wide speculation that the (Ikoyi) building was raised to 21 floors contrary to the 15 floors approved by the Lagos State Physical Planning Permit Authority (LASPPPA) for the owner,” as well as on “the constant collapse of buildings in the state …(which) can be attributed to unqualified or unskilled builders, use of substandard building materials, illegal conversion or alterations to existing structures and lack of maintenance to mention a few.”

The Lagos lawmakers should go beyond passing motions. Until there are stringent laws that penalize developers who infringe on building codes and regulators who shirk their responsibility, we will continue to witness this harvest of monumental tragedy.

The Yar’Adua Study on Subsidies (IV) Interested readers can check part four of the above series in the online edition. The study highlights important issues to be addressed in the design of framework for subsidies and tariffs implementation in key sectors of the economy which should enable the government to target the poor adequately.

Echoes from Anambra Guber Poll

B

arring another judicial abracadabra, the next Governor of Anambra State will not be decided ‘The Ben Johnson Way’.

With Tuesday’s declaration of Prof Chukwuma Soludo duly elected, I do not expect those who came 4th at the poll to upstage the former CBN Governor with exhausting court runs that are traditionally part of election process in Anambra State. But if there is any major take-away from the election, it is the validation of how important technology is to credible polls. Voter turn-out was low and that was reflected in the results, leaving little room to maneuver for those adept at gaming elections. By replacing the Smart Card Reader (SCR) with the Bimodal Voter Accreditation System (BVAS) device, INEC has upped the game, especially given that

the much-abused incident form is now history.

Despite teething challenges, we need to support INEC in their use of technology. But I agree with the submission by CLEEN Foundation that the Commission needs to improve logistic and operational challenges associated with BVAS. “INEC result portal should be improved for more transparency and accountability through automation of the sum of votes received by political parties at the polling units; INEC should prosecute electoral offenders to serve as deterrent to others,” CLEEN recommends. “INEC should provide enough sensitive materials, such as Braille for voters with visual impairment; the commission should train and retrain electoral officers and ad-hoc staff to enable them meet with the changing needs of the electorate in

Nigeria.”

I am sure the Commission will take those suggestions on board as they prepare for future elections. However, when I learned the Minister of Labour, Dr Chris Ngige, was nagging over the failure of the BVAS to accredit him for voting last Saturday, I was amused. When his own party, the ruling All Progressives Congress (APC) conducted the Anambra gubernatorial primaries where Senator Andy Uba emerged the candidate in June this year, Ngige told Nigerians that he was at his hometown of Alor waiting for the exercise to commence when he heard the announcement of result in the news!

To Soludo who must now provide the muchtouted Solutions to Anambra State problems, I offer my hearty congratulation!

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com