WEDNESDAY 29TH NOVEMBER 2023

President Seeks Senate Approval for $8.7bn, €100 Million Loans Approved By Buhari's Govt Writes National Assembly on budget presentation Fagbemi warns that rising debt profile danger to economy

Alex Enumah and Sunday Aborisade in Abuja

President Bola Tinubu, yesterday,

asked the Senate to approve the sum $8,699,168,559 and €100 million foreign loans, which the Federal Executive Council (FEC) had ratified

during the administration of former President Muhammadu Buhari.

The loan request was part of the 2022-2024 borrowing plan.

Tinubu also wrote to both chambers of the National Assembly yesterday regarding his intention to present the 2024 Budget at a joint

session today.

The requests by the president came on the same day the Attorney-General of the Federation (AGF) and Minister

of Justice, Mr. Lateef Fagbemi, decried Nigeria’s rising debt profile, warning Continued on page 9

Appeal Court Affirms Kefas, Fubara’s Elections... Page 9 Wednesday 29 November, 2023 Vol 28. No 10458. Price: N250

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L-R; Founder/CEO Bolmus Group International, Hajia Bola Shagaya; Chairman Honeywell Group, Mr. Obafemi Otudeko; Chairman Tony Elumelu Foundation/Chairman United Bank of Africa (UBA), Mr. Tony Elumelu; Group Managing Director/CEO Access Bank Holdings Plc, Mr. Herbert Onyewumbu Wigwe; Host and Former Chief Justice of Supreme Court, Hon. Justice Amina Augie (rtd); Chairman of the Occasion, Obi of Onitsha, His Majesty, Igwe Nnaemeka Alfred Ugochukwu Achebe; Executive Vice Chairman South Atlantic Petroleum (SAPETRO), Senator Daisy Danjuma; Former National Vice Chairman Southwest Zone Peoples Democratic Party (PDP), Chief Olabode Ibiyinka George; Justice Rita PHOTO: MUBO PETERS. Ajumovia and Chairman Globe Motors, Mrs. Nkiru Anumudu, at the presentation of book, Wisdom and Integrity in honour of Hon. Justice Amina Auggie (rtd) held in Lagos ...yesterday.

Tinubu to Nigerians: Present Hardship Temporary, Benefits Will Be Permanent

Says his administration tackling with boldness, decisiveness manufacturers’ challenges Highlights access to low-cost capital, multiple taxation, infrastructure issues, FX scarcity, export obstacles, among impediments

Deji Elumoye, Ndubuisi Francis and Emmanuel Addeh in Abuja President Bola Tinubu told Nigerians yesterday that he was aware of their current pains, but assured that they were only temporary hardships meant to birth permanent gains.

Speaking at the opening ceremony of the 2023 National Engineering Conference in Abuja, Tinubu stated that the ongoing reforms were meant to secure the future of Nigeria.

He was represented by Vice President Kashim Shettima at the conference, themed, “Re-engineering the Manufacturing Sector for Competitiveness and Enhanced Economic Growth.”

Tinubu stated at the programme organised by the Nigerian Society of Engineers (NSE) that Nigeria’s problem was not its huge population, but inability to harness the potential of its vast population of young people.

Continued on page 9

AN EVENING WITH GLO...

L-R: Chief Technical officer, Roll out, Globacom, Remi Makinde; Director of Customer Care, Globacom, Catherine Bomett; Executive Vice Chairman, Globacom, Mrs Bella Disu, and Managing Director, Huawei Nigeria, Mr. Chris Lu, at “An Evening with Glo” event held at Eko Hotel and Suites, Lagos on Saturday.

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T H I S D AY • WEDNESDAY, NOVEMBER 29, 2023

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

NEWS

Night of Tributes for The late King T. J. T Princewill ...

L-R: Mrs Jetiba Soberekon; son of the deceased, Prince Tonye Princewill; his wife, Princes Rosemary and Regent of Kalabari Kingdom, Chief Dr. Charles Numbere at the Night of Tributes for the late monarch, His Serene Majesty, King Professor T.J.T Princewill, Amachree XI and Amanyanabon of Kalabari Kingdom held in Port Harcout, Rivers State ...yesterday

Senate Approves N57bn as Nigeria Police Trust Fund 2023 Budget Confirms Federal Civil Service board chairman, members’ appointments

Sunday Aborisade in Abuja The Senate yesterday, passed the sum of N57,014,287,532.00 as the 2023 budget of the Nigeria Police Trust Fund.

Out of the amount, capital expenditure is to gulp N47,024,803,541.18, while total recurrent expenditure was put at of N9,989,483,990.00.

The approval of the 2023 NPTF budget followed the consideration and adoption of the report of the Senate and House of Representatives Joint Committees on Police Affairs on the 2023 budget proposal of the Nigeria Police Trust Fund by the Senate.

The Chairman, Senate Committee on Police Affairs, Senator Ahmed Mallam-Madori, presented the report on the floor during plenary.

The Joint Committee in its report observed that, “this is the fourth budget of the NPTF since its inception in 2019.

“That the NPTF is currently carrying on with the implementation of its 2022 approved budget.

“That the 2023 accrued revenue of the NPTF is as follows: 0.5 per cent of total revenue accrued to the Federation Accounts amounting to N56,205,355,774.00 and 0.05 per cent of the net profit of companies in Nigeria is N308,931,758,00; Aids, Grants and Donations generated the sum of N500,000,000.00.”

Meanwhile, the Senate yesterday,

confirmed the appointment of Prof.

Tunji Olaopa, as Chairman, Federal Civil Service Commission (FCSC).

The red chamber also confirmed the appointment of 11 others as members of the Commission who are from various states of the Federation.

The confirmation followed the presentation and adoption of a report of the Senate Committee on Establishment and Public Affairs by the Chairman, Senator Oluwole Cyril (APC- Ekiti) at the Committee of the Whole.

While presenting the report, Oluwole urged the Senate to consider the request of President Bola Tinubu for the confirmation of the nominees for appointment as Chairman and members of the FCSC. He said that the request was

pursuant to Section 154 sub section 1 of the 1999 Constitution of the Federal Republic of Nigeria as amended.

Oluwole, said that the Committee during the screening of the nominees, received documents from the office of Senior Special Assistant to the President on National Assembly Matters (Senate).

He told the Senate that the nominees possessed the requisite qualifications, professional experience, competence and capacity to further ensure success of the FCSC. He, therefore, urged the Senate to approve their nominations, and the Upper Chamber accordingly confirmed their appointments.

Those confirmed as members of FCSC included Dr.Dauda Ibrahim Jalo, representing

Adamawa, Gombe and Taraba States, Ededet Eyoma, representing Akwa-Ibom and Cross River states; Dr.Chambalin Nweke, Anambra, Ebonyi and, Enugu States.

Others were Rufus Godwin, representing Bayelsa, Delta, and

Rivers States, Dr.Adamu Hussein, representing FCT and Niger; Aminu Nabegu, representing Jigawa and Kano states, Hindatu Abdullahi, representing Kaduna and Katsina states, Shehu Aliyu representing Kebbi, Sokoto and

Naira Stable at Parallel Market, Depreciates at Official I&E to N1,155, N881

Nume Ekeghe

The naira was stable at the parallel against the dollar where it exchanged at N1,155/$1 while it depreciated at the official I&E window closing the day at N881.88/$1.

The official I&E window at

N881.88/$1 depreciated from N814.60/$1 it closed on Monday representing an N67.28 weakening.

However, intra-day trade from the data obtained by FMDQ showed that the highest spot rate exchanged at N1159/$1 while the lowest spot rate recorded was N701/$1 Also, the parallel market at

Cutting red tapes which slow business transactions and improving the security of mining operations were among fresh commitments unfolded by the Minister of Solid Minerals Development, Dr. Oladele Alake at the Mines & Money Conference which opened in London, yesterday.

Addressing global stakeholders in the mining industry, Alake, in the 15-minute speech pitched for more investment in Nigeria listing unique advantages such

N1,155/$1 was stable from the previous day’s exchange.

In terms of trade volume, the official I&E window reported a daily turnover of $118.06 million, signaling a notable 11.8 per cent increase in turnover compared to the $100.06 million recorded on Monday.

COP28 Climate Summit: Tinubu off to Dubai, to Deliver 'National Statement', Canvass Financial Support for Third World

Deji Elumoye in Abuja

President Bola Tinubu departs Abuja, today, for Dubai, the United Arab Emirates, to attend the COP28 Climate Summit, also known as the 28th United Nations Climate Change Conference, or Conference of the Parties of the

UNFCCC (COP28).

At the world leaders' summit, billed for December 1 and 2, 2023, themed, "Unite, Act, and Deliver," the President, according to a release issued on Tuesday by his Media Adviser, Ajuri Ngelale, will deliver a national statement, highlighting Nigeria’s stance on various thematic

issues, including renewable energy and climate financing.

Conscious of the severe impact of climate change on Nigeria, such as desertification, flooding, erosion, drought, and national security risks arising therefrom, President Tinubu will maximize the opportunity afforded by the

platform to advocate increased financial and technical support for developing nations.

He will also remind developed countries of their public pledge to provide $100 billion annually for support to localized initiatives to address climate change-related challenges.

FG Woos Foreign Mining Investors with Lower Production Cost

Folalumi Alaran in Abuja

Zamfara States.

Others included: Odekunle Rukiyat Aduke, representing Kogi and Kwara States, Sarah Sosan, representing Lagos and Ogun States and Dr.Festus Oyebade representing Osun and Oyo States.

as lower production cost due to surface mining and billions of dollar untapped minerals.

He quoted recent reports by professional services firm, KPMG which reported that mining sector’s contribution to Nigeria’s GDP rose from 0.3 per cent to 0.85 per cent last year, indicating 0.63 per cent year-on-year growth.

His words: “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations.

“Recently, recognising the evolving

global landscape and in response to emerging trends, Lithium has been included as a crucial strategic mineral of global consequence.”

Alake, said the administration of President Bola Tinubu had embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract foreign investors.

Showcasing recent progress in creating conditions for solid minerals development, Alake highlighted fresh data revealed by the Airborne Geophysical Survey, memorandum of understanding

with German firm, Geoscan, to gather more data on solid minerals across the country and access to finance through a new funding facility launched by the Africa Finance Corporation and the Solid Minerals Development Fund.

The minister reminded the global mining community of the federal government‘s policies on how mining operations must benefit the communities and lead to processing instead of wholesale export of raw minerals.

“Nigeria is currently emphasising Solid Minerals Beneficiation

and Value-Addition as a panacea for quick and sustainable growth of the mining industry.

“By adding value to our raw materials, we not only create higher value products, but also generate employment opportunities for our teeming youth and increase the sector’s overall profitability and contribution to the nation’s GDP,” he added.

Alake, urged investors to support socio-economic development of the communities where they mine to make mining mutually beneficial.

The President’s message will also focus on holding businesses and institutions accountable and reflecting Nigeria’s dedication to sustainable and responsible practices.

The Nigerian delegation to COP28 will actively explore establishing new and deeper bilateral partnerships to implement Nigeria's Energy Transition, Article 6 Projects, Internationally Transferred Mitigation Outcomes (ITMOs), Technology Transfer, Capacity Building, and Methane Mitigation.

While in Dubai, President Tinubu will actively participate in key sideline events, which will further support the advancement of his avowed commitment to aggressively attract foreign direct investment for enhanced wealth creation and revenue expansion in the country, in addition to other events hosted by the Nigerian delegation.

The President, who will be accompanied by senior government officials, is expected back in Abuja at the end of the summit.

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NEWS

Commonwealth Trade and Investment Summit, (CWEIC), London...

L-R: Lord Marland of Odstock, Chairman of the CWEIC; Mr Peter Obi; Fiamē Naomi Mata'afa, Prime Minister of Samoa and Prof Asif Chaudry, Robotic Oesophageal Cancer Surgeon, at the Commonwealth Trade and Investment Summit, (CWEIC), London... on Monday

Alleged Procurement Breach: EFCC's Witnesses Exonerate Emefiele as Trial Commences Alex Enumah in Abuja

The trial of former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, commenced yesterday, with the calling of three witnesses by the Economic and Financial Crimes Commission (EFCC).

Emefiele, standing trial on a six-count charge bordering on alleged abuse of office, was arraigned on November 17 by EFCC. He was specifically charged with conferring corrupt advantage, an offence contrary to Section 19 of the Corrupt Practices and Other Related Offences Act. Although, he pleaded not guilty to the charges and was admitted to bail in the sum of N300 million last week.

Emefiele was brought to face trial by personnel of the Nigeria Correctional Service. One of his lawyers said the former CBN boss

was yet to perfect his bail conditions.

At yesterday's proceedings, EFCC's lawyer, Mr. Rotimi Oyedepo, informed the court of three witnesses listed to prove its case against the defendant.

First on the Prosecution Witness (PW) list was an official of the Corporate Affairs Commission (CAC), Shamsudeem Abulili.

The witness, led in evidence

by Oyedepo, told the court that a company, April 1616 Investment Limited, said to be involved in the alleged procurement fraud was incorporated as a company limited by shares on August 1, 2016.

Abulili listed directors of the company to include Aminu Idris Yaro; Maryam Aliyu Abdullah; and Sa'adatu Ramalan Yaro, who appeared as the Company Secretary on its registration document.

However, under cross examination by Emefiele's lawyer, Mathew Burkaa, the witness admitted that

Emefiele was not listed as either a director or shareholder of the company.

Responding to further questions, the witness stated that while the CAC was responsible for incorporation of the company, it did not play any role in the day to day running of affairs of the company.

The second witness called by EFCC, a Compliance Officer with Zenith Bank Plc, Mr. Remigious Ugwu, while giving evidence on the firm's transactions with the bank, disclosed an inflow of N39, 060,465.11 from the CBN to the company's account on October 19, 2020.

According to Ugwu, another inflow of N121, 953, 488.34 came into the account on November 6, 2020, while the sum of N304, 883,720.85 was paid on November 23, 2020 to the same company by CBN. Ugwu said on January 22, 2021, an inflow of N304, 883, 720.85 from

CBN was made to April 1616, while another N304, 883, 720.85 was paid to the company on March 23, 2021

by CBN. But under cross examination, the second witness admitted that Emefiele's name was not on the company's account mandate.

Besides, Ugwu admitted that Emefiele was not a signatory to the account.

When asked if he knew what the payments made by CBN were for, his response was, "I did not know the purposes of those payments

by CBN." The third witness, a Deputy Director, Banking Services with CBN and former Secretary to Major Contract Tendering Committee (MCTC) of the CBN, Oluwole Owoeye, told the court that MCTC had nine members, who were directors.

Owoeye stated that the committee was headed by a CBN Deputy Governor, who was responsible

Sanwo-Olu Pledges to Deploy Technology for Sustainable Solution to Local Challenges Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday said his administration will continue to deploy technology to provide sustainable solutions to local challenges.

He said this will ensure food security, efficient intermodal transportation system, good healthcare service delivery and quality education, among others.

Sanwo-Olu spoke at the “Endeavor Nigeria’s Annual Scale Up Entrepreneurship Summit” held at the Federal Palace Hotel, Victoria Island, Lagos.

Sanwo-Olu added that his administration understands clearly that the key role of government in the emerging global ecosystem is to facilitate the unleashing of potential through the provision of critical infrastructure while also initiating policies aimed at easing the process of doing business.

He said: “Some of the initiatives we are implementing to support the tech and initiatives ecosystem include the fibre optics that we are laying to improve internet connection and the Lagos State Employment Trust Fund, which has supported over 12,710 Micro, Small and Medium Enterprises (MSMEs), to access over N8.4

billion loan.

“We are also boosting agricultural productivity through the Agripreneurship intervention aimed at exposing young entrepreneurs to the potential in the agriculture value chain through training using modern technology-enabled agricultural techniques and practices for job and wealth creation.

“As a government, we are prioritising and investing in initiatives that will deepen the deployment of technology in process and ideas aimed at providing sustainable solutions to our local challenges.

“It gives me great pleasure to know that we have a great partner in Endeavor Nigeria with whom we can synergise to provide the necessary support for our budding entrepreneurs.”

The governor, while congratulating the leadership of Endeavor Nigeria, said the organisation's commitment since 2018 to usher in a new era of growth and economic development driven by high-impact entrepreneurship in Nigeria through the annual summit and other support systems was highly commendable.

He said: “As a global free enterprise network, Endeavor Nigeria has played a pivotal role in leading

the high-impact entrepreneurship movement, accelerating their growth by building a strong free enterprise ecosystem in growth markets from diverse industries that can transform the Nigerian economy through job creation and

economic opportunities.

“We must commend Endeavor Nigeria for providing the platform and support that have given rise to incredible enterprises that have harnessed the power of innovation and technology.

for ensuring compliance with the Procurement Act by the CBN in the award of contracts.

When presented some tendered documents marked F1-F45, the third prosecution witness claimed that the contracts contained therein exceeded the threshold his committee could handle.

Owoeye further claimed that there was no evidence that the contracts came to his committee for evaluation, and added that the documents were handled by the procurement services division and were never referred to the MCTC. Under cross examination, the third prosecution witness admitted that Emefiele was neither a member of the MCTC nor headed the committee. He said the defendant was also not a member of the procurement services division of CBN. Owoeye further responded that he could not say what steps were taken by the procurement services division in respect of the contracts awarded to April 1616 Investment Limited.

The witness stated that it was not out of place for the apex bank to pay a contractor that carried out a contract for CBN. "It is not out of place for the bank (CBN) to pay a contractor who has carried out the contract given to him," he said.

The witness informed the court that both the MCTC and the procurement department of CBN were functional when Emefiele served as Governor of CBN.

Under further questioning, while the witness confirmed that the April 1616 contract was one of the contracts awarded by CBN, he could not confirm whether the company was paid by the bank or not.

At the end of the cross examination of the third prosecution witness, trial judge, Justice Muazu, adjourned to January 18 and 19, 2024 for continuation of trial.

Emefiele was alleged, in the case marked CR/577/2023, to have used his position as CBN governor to award six different contracts for the supply of different vehicles to one Sa'adatu Ramalan Yaro, a member of staff of CBN between 2018 and 2022, to the tune of N1, 210,600,000.

The procurement contracts were said to have been awarded to April 1616 Investment Limited, in which the said Sa'adatu Ramalan Yaro was a director.

The court had on November 22 admitted the former CBN boss to a N300 million bail with two sureties in like sum, each of whom must possess landed property worth N300 million in Abuja with Certificate of Occupancy (C of O).

The court had ordered the sureties to deposit the original C of O of the property to the court, while Emefiele must also deposit all his travel documents with the court.

Emefiele was ordered to remain in custody at the Kuje Correctional Centre, pending when he would perfect his bail conditions.

Inflation: Comercio Partners Urges Investors to Hedge, Diversify Assets Comercio Partners, an investment banking firm has called on investors to diversify their portfolios so as to protect against the risks of rising inflation.

Data from the National Bureau of Statistics, NBS showed that the headline inflation rate rose for the 10th consecutive month to 27.33 per cent in October from 26.72 per cent in September.

In a report analysing the October inflation report and implications, the Co-Founder, Comercio Partners, Tosin Osunkoya noted, “Although there is a slowdown in the pace of growth compared to September and August, the double-digit inflation persists, posing significant challenges for Nigeria's population across

various socio-economic strata.”

He added that, “navigating the current economic landscape in Nigeria requires a cautious approach from investors, considering the multifaceted implications of inflation on various asset classes.

“Additionally, policymakers need to maintain a vigilant stance, ensuring that monetary policies are adaptive to the evolving economic conditions.”

Consequently, Osunkoya recommended to investors’ interest rate sensitivity, diversification and hedging as measures to protect their portfolio from inflation risks.

He said: “Investors should consider diversifying their portfolios to mitigate risks associated with inflation. Assets like real estate,

commodities, and international investments could provide a hedge against the impact of inflation on domestic assets.

“Given the expected continuation of the high-interest rate environment, investors should be mindful of the interest rate sensitivity of their investments. Sectors such as real estate and bonds may experience challenges, while sectors like utilities and certain commodities may fare better.”

Osunkoya further noted that the further rise in the inflation rate implies continued monetary tightening, liquidity mop up by the CBN, as well as a need for clear and transparent communication from the new CBN Governor.

He said: “The persistently high inflation rate suggests that the CBN is likely to maintain its stance of tight monetary policy. This involves keeping interest rates high to curb inflationary pressures.

“The continued effort to mop up excess liquidity in the market is expected to be a key element of the monetary policy. This is aimed at controlling inflation by reducing the money supply.

“The new CBN governor's communication strategy will be crucial. Clear and transparent communication regarding monetary policy intentions and strategies can help manage expectations in the financial markets and among the public.”

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NEWS

Endeavor Nigeria's annual Scale Up Entrepreneurship summit...

L-R: President/co-Founder, Daystar Power Group, Mr. Christian Wessels; Chairman, Endeavor Nigeria Board of Directors, Mr. Bolaji Balogun; Managing Director/CEO, Endeavor Nigeria, Ireayomide Oladunjoye; Governor of Lagos State, Mr. Babajide Sanwo-Olu; founding Chairman of Endeavor Nigeria, Mr. Atedo Peterside; Chairman, Rosemonde Limited, Mr. Jaideep Gulab and Chief Transformation Officer, Seven-Up Bottling Company, Mr. Sari El-Khalil, during the Endeavor Nigeria's annual Scale Up Entrepreneurship summit themed: “Reimagining Growth…Building through an Economic Downturn”, at the Federal Palace Hotel, Victoria Island, ... yesterday

Adesina: Africa Lacking Accountability in Natural Resource Governance Says continent needs $110bn for food import by 2025

Ugo Aliogo The President of African Development Bank (AfDB) Group, Dr. Akinwumi Adesina, yesterday stated that Africa lacks the accountability and transparency needed to manage her natural resources, noting that if the continent continues mismanaging its resources, it would remain stuck in poverty.

He added that if Africa manages its natural resources well, the continent has no reason to be poor, stating that Africa has $6.2 trillion in natural resources.

“So, how in the world are we still poor? We simply need to pull up our socks, stamp out corruption, and manage our resources in the interest of our countries and our people,” he added.

Adesina, who spoke in Lagos, at the 40th Anniversary of The Guardian Newspapers, with the theme: ‘For the World to Respect Africa’ said African would gain respect when it is able to feed herself, insisting that any nation or region that begs for food is free only in words, but dependent on others for life.

He also stated that feeding 9.5 billion people in the world by 2050 would be a challenge, given climate change and the limited amount of arable land in many countries, including developed countries.

He stressed that Africa would play a critical role in this as the continent has 65 per cent of all the uncultivated arable land left in the world.

Adesina expressed displeasure that despite the abundant arable land on the continent, Africa has not been able to feed itself, noting that Africa’s food import bill hit $85 billion in 2012, and is expected to surpass $110 billion by 2025, with 283 million people going hungry every year.

The AfDB President said the bank had invested over $8 billion in agriculture over the past seven years which has improved food security for 250 million people.

He revealed that the bank rapidly approved a $1.5 billion emergency food production facility for African countries, pointing out that the facility is supporting 20 million farmers in 36 countries.

According to him, this has helped to produce 38 million tons of food valued at $12 billion, which is 8 million metric tons above the 30 million metric tons of food Africa was losing from imports from Russia and Ukraine.

He disclosed that to gain respect globally, Africa must turn itself into a global powerhouse in food and agriculture, which he noted is the reason why the bank and its partners have provided $1.6 billion for the development of Special Agro-Industrial Processing Zones to support private sector processing.

He averred that the newly launched $3 billion Alliance for Special Agro-Industrial Processing Zones would support the development of the zones in 11 more countries.

The AfDB president remarked

that Africa accounts for just 3 per cent of global manufacturing, and that industrialising is the fastest way to wealth.

He urged the federal government to unleash an industrial revolution on the continent, stressing the day Nigeria wakes up, everything would change for its people and for Africa.

He hinted that in Nigeria, 98 per cent of government revenue

is used to service debt.

“We have invested $210 million in the development of the transmission lines for Nigeria and plan to support a 1,000 MW solar power plant in Jigawa, as well as Nigeria’s first public-private partnership power transmission lines in Lagos State.

“In Nigeria, the AfDB, Islamic Development Bank, and the French Development Agency jointly

The Ogun state government will on Friday, December 1, distribute 5,000 Certificates of Occupancy (C of Os) to beneficiaries, according to a statement by the state’s office of the Director General, Bureau of Lands and Survey.

The statement added that Governor Dapo Abiodun would present the certificates to benefi-

ciaries, thus enhancing the value of their properties, as they can be used as collaterals, while house and landowners can also take advantage of the state's proximity to Lagos to maximise value.

The beneficiaries are drawn from the Ogun State Land Administration and Revenue Management System (OLARMS) and the immediate past administration’s Home Owners Charter (HOC).

its vast natural resources to develop its economies and to transform the lives of the people.

“What applies to agriculture also applies to Africa’s minerals, oil, gas and metals, such as copper, cobalt, manganese, graphite and lithium.

Africa accounts for 70 per cent of the global reserves of platinum, 52 per cent of cobalt and 48 per cent of manganese,” he added.

Nigeria, Other Countries Secure Atomic Agency’s Nod for Nuclear Power Development Inks agreement to make AI 'secure by design'

Emmanuel Addeh in Abuja Nigeria and a dozen other countries are expected to start producing electricity from nuclear power sources within the next few years, the Director General of the International Atomic Energy Association (IAEA), Rafael Mariano Grossi, said yesterday.

According to the IAEA, it is necessary to double the number of nuclear reactors in the world - currently at about 400 units - to achieve the objectives of the Paris climate agreement.

Grossi said at the World Nuclear Exhibition in Paris, that 10 countries, including Nigeria, have already entered the decision to develop

their nuclear potential.

"We already have 10 countries which have entered the decision phase to build nuclear power plants and 17 others which are in the evaluation process," he said.

"There will be a dozen or 13 new nuclear countries within a few years," he added.

A Reuters report noted that Ghana, Kenya, Morocco, Nigeria, Namibia, the Philippines, Kazakhstan and Uzbekistan were cited by Grossi as potential new nuclear countries.

Meanwhile Nigeria, the United States, Britain and more than a dozen other countries on have unveiled what a senior US official described as the first detailed international

Ogun to Distribute 5,000 Certificates of Occupancy Friday

James Sowole in Abeokuta

provided $614 million in financing for the I-DICE programme (Digital Innovation and Creative Enterprises).

The initiative will support hundreds of digital small and medium-sized enterprise and creative enterprises, create 6 million jobs, and add $6.4 billion to Nigeria’s GDP. “Africa must turn the sweat of its farmers into wealth. Africa will gain respect when it takes advantage of

The event will be held at the Arcade Ground, Governor’s Office, Oke Mosan, Abeokuta.

According to the statement, beneficiaries would be mandated to present valid means of identification and will also be accredited by the Bureau of Lands & Survey before the commencement of the distribution.

"The present administration in the state embarked on the exercise

aimed at authenticating land documents of all house owners in the state with a view to adding value to the properties and getting the owners to formalize and benefit maximally from them.

"Additional 10,000 certificates of occupancy are in the pipeline for distribution within the next one year, urging interested applicants to take advantage of the opportunity," the statement read.

agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are "secure by design."

In a 20-page document unveiled, the 18 countries agreed that companies designing and using AI need to develop and deploy it in a way that keeps customers and the wider public safe from misuse.

The agreement is non-binding and carries mostly general recommendations such as monitoring AI systems for abuse, protecting data from tampering and vetting software suppliers, Reuters said.

Still, the director of the US Cybersecurity and Infrastructure Security Agency, Jen Easterly, said it was important that so many countries put their names to the idea that AI systems needed to put safety first.

"This is the first time that we have seen an affirmation that these capabilities should not just be about cool features and how quickly we can get them to market or how we can compete to drive down costs," Easterly noted, saying the guidelines represent "an agreement that the most important thing that needs to be done at the design phase is security."

The agreement is the latest in a series of initiatives - few of which carry teeth - by governments around

the world to shape the development of AI, whose weight is increasingly being felt in industry and society at large.

In addition to the United States and Britain, the 18 countries that signed on to the new guidelines include Germany, Italy, the Czech Republic, Estonia, Poland, Australia, Chile, Israel, Nigeria and Singapore.

The framework deals with questions of how to keep AI technology from being hijacked by hackers and includes recommendations such as only releasing models after appropriate security testing.

It does not tackle thorny questions around the appropriate uses of AI, or how the data that feeds these models is gathered.

The rise of AI has fed a host of concerns, including the fear that it could be used to disrupt the democratic process, turbocharge fraud, or lead to dramatic job loss, among other harms.

Europe is ahead of the United States on regulations around AI, with lawmakers there drafting AI rules.

France, Germany and Italy also recently reached an agreement on how artificial intelligence should be regulated that supports "mandatory self-regulation through codes of conduct" for so-called foundation models of AI, which are designed to produce a broad range of outputs.

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Nigeria, Angola Reject Oil Quota Cut as OPEC Stalemate Looms

Emmanuel Addeh in Abuja

Nigeria and Angola, two major oil producers in Africa, are resisting a plan by the Organisation of Organisation of Petroleum Exporting Countries (OPEC) to compel both countries to reduce their crude oil production quota for next year, THISDAY learnt yesterday.

OPEC had in June cut Nigeria’s crude production to 1.38 million barrels per day from the current 1.74 million bpd in 2024, following the country’s inability to meet its quota for over three years.

However, Nigeria’s production benchmark in the 2024 budget has been pegged at 1.78 million bpd, a development that will jeopardise the country’s budget if it accepts the 1.38 million bpd ceiling by the producer’ group.

But a Bloomberg report said that Saudi Arabia was asking others in the OPEC+ coalition to reduce their oil-output quotas in a bid to shore up global markets but some members are resisting, quoting OPEC delegates.

The OPEC+ leader has been making a largely unilateral supply cutback of 1 million bpd since July, and is now seeking further support from across OPEC and its partners, said the delegates, asking not to be identified because the information is private.

The Saudi proposal comes amid difficult talks for the producers’ group, which was forced to delay its policy meeting by four days to November 30 as Angola and Nigeria resist reductions to their own quota limits for 2024, which were set out at the cartel’s last conference in June.

The producers were progressing

toward a compromise on this matter before the weekend, but have yet to clinch an agreement, delegates said.

The 23-nation OPEC+ alliance faces pressure to intervene in crude markets, following a 17 per cent drop in prices over the past two months amid plentiful supplies and a darkening economic backdrop.

Markets could weaken further in early 2024, when forecasters including the International Energy Agency (IEA) anticipate the emergence of a new supply surplus.

Saudi Arabia’s voluntary production cut of 1 million barrels a day, implemented in tandem with a 300,000 barrel-a-day export reduction from Russia, is currently set to continue until the end of the year. Most analysts expect Riyadh and Moscow to extend those curbs into 2024.

Supply reductions across the alliance would probably win back oil bulls, but they could be hard to orchestrate. Iraq, Russia and Kazakhstan have recently been pumping over their quotas, while others like the African members have lost so much production capacity they’re in no position to cut further.

It’s also unclear whether the United Arab Emirates, a key member, will be under pressure not to proceed with a quota increase of 200,000 barrels a day permitted from January. Abu Dhabi secured the dispensation at the last OPEC+ gathering in June, in order to finally make use of recent investments in new capacity.

“The group is no closer to resolving the deadlock over oil-output quotas for some African nations, delegates said. The stalemate may

not be resolved before the scheduled OPEC+ meeting on November 30, potentially requiring further delay, one delegate added.

In a volatile session, global benchmark Brent crude’s prices were up 1.3 per cent before briefly erasing gains and then trading higher once again yesterday.

The group is heading into the meeting with prices having dropped by about a fifth since late September due to plentiful supplies and concerns about the global economic backdrop. The relative weakness has fuelled expectations that the group will embark on deeper supply cuts.

The implementation of Nigeria’s 2024 budget faces a major test if negotiations fail between the country and the OPEC. Last Wednesday, the Senate approved the Medium-term

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri Expenditure Framework (MTEF) for 2024-2026 and the Fiscal Strategy Paper (FSP), which contained projections for budget appropriations over the next three years.

Appeal Court Affirms Kefas, Fubara’s Elections Alex Enumah in Abuja and Wale Igbintade in Lagos

The Courts of Appeal in Abuja and Lagos, yesterday, affirmed the elections of Governors Kefas Agbu of Taraba State and Siminalayi Fubara of Rivers State, both of the Peoples Democratic Party (PDP) A three-member panel of the appellate court in two separate appeals in Abuja, held that Agbu, was lawfully declared winner of the March 18 governorship election in Taraba State.

Delivering judgment in the appeal filed by Prof Yahaya Sani of the New Nigerian People's Party (NNPP), the appellate court held that the allegations of non-compliance, irregularities and other malpractices were not proved by the appellant.

In a unanimous judgment delivered by Justice Peter Affen, the appellate court faulted the appellant for dumping documents on the court, stressing that even if there was manifest incidents of malpractices or irregularities on the face of the documents, the appellant ought to

have led oral evidence to support his allegations.

The court dismissed the appeal for being incompetent and lacking merit on the grounds that the record of the proceedings transmitted to the appellate court was not complete.

Earlier, delivering judgment in the cross appeal filed by the governor, the court struck out the appeal on the grounds that the petitioner was inconsistent in the reliefs sought in his petition.

In Lagos, the appeal court, in a unanimous decision dismissed four

separate appeals filed by Tonye Cole of All Progressives Congress (APC), Beatrice Itubo of Labour Party(LP), Innocent Ekwu of the Allied People’s Movement (APM), and Lulu Briggs Dumo of Accord Party respectively.

Justice Olabode Adegbehingbe, in his lead judgement held that all the Appellants failed to prove the allegation of non-compliance with the electoral Act. The court, however, faulted the tribunal for dismissing Tonye Cole's appeal on the ground that APC that sponsored him had withdrawn its

petition against Governor Fubara’s victory.

The court held that the fact that APC withdrew its petition against Governor Fubara’s victory, does not prevent its candidate, Tony Cole, from pursuing his appeal.

Delivering judgement on Tony Cole's appeal, Justice Olabode Adegbehingbe held that APC and its candidate, Tonye Cole did not file a joint appeal, adding that a political party cannot compel its candidate to file an appeal neither could a candidate compel a political

P r e sid e n t S e e ks S e n at e A pp r ova l f o r $ 8 . 7 b n , € 1 0 0 Mi l l i o n Loa n s A pp r ov e d By B u ha r i ' s G ov t

that such increase poses a serious danger to the country's economy.

Fagbemi spoke in Abuja at the Body of Attorneys-General Conference and Meeting of the General Council of the Bar. Tinubu made the loan request in a letter to the red chamber, which was read during plenary by Senate President Godswill Akpabio.

The aforementioned sums were approved by FEC on May 15 under Buhari.

Initially, the president had asked the National Assembly to approve $7.8 billion, €100 million

in the borrowing plan of the federal government.

The letter read, "I write in respect of the above subject and to submit the attached federal government 2022-2024 external borrowing plan for consideration and early approval of the National Assembly to ensure prompt implementation of the projects.

"The Senate may wish to note that the past administration approved a 2022-2024 borrowing plan by the FEC held on May 15, 2023.

"The project cuts across all sectors, with specific emphasis on

infrastructure, agriculture, health, water supply, roads, security, and employment generation as well as financial management reforms.

"Consequently, the required approval is in the sum of $8,699,168,559 and €100 million.

"I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, and skills acquisition.

"Given the nature of these

facilities, and the need to return the country to normalcy it has become necessary for the senate to consider and approve the 2022- 2024 external abridged borrowing plan to enable the government deliver its responsibility to Nigerians."

Equally, yesterday, Tinubu wrote to the Senate and House of Representatives about his intention to present the 2024 Budget at a joint session today.

The letter was read in the Senate

by Akpabio. The federal government had proposed N27.5 trillion for the 2024 fiscal year.

Tinubu to Nigerians: Present Hardship Temporary, Benefits Will Be Permanent He stressed that Nigeria had the potential of becoming a $1 trillion economy, adding that he intends to prioritise job creation, access to capital for small and large scale businesses, adherence to the rule of law, and the fight against hunger, poverty and corruption.

The president underlined the importance of the engineering profession in any nation, and said national growth and development could not be attained without the contributions of the various facets of the engineering.

According to him, “The renewed hope agenda of the present administration is defined by our commitment to unleashing our country's full economic potential by focusing on job creation, access to capital for small and large businesses, inclusiveness, the rule of law and the fight against hunger, poverty and corruption.

“Nigeria has the population and the resources to be a trillion-dollar economy within the next decade.

However, we cannot achieve these ambitious targets without recognising the critical importance of the key elements embodied by the theme of this conference, including manufacturing, competitiveness and economic growth.

“Some people view our population of over 200 million people as an obstacle to our economic development. I beg to vehemently disagree.

What I see is tremendous potential and opportunity as the largest black population on earth and in Africa and with a median age of 19.”

Tinubu said Nigeria possessed not

only a large pool of industrial and engineering expertise, but also a huge market for any product manufactured within the country. But the challenge before the country, he argued, was to change the large population to one of the greatest national assets the world had ever seen.

The president told the engineers that they had a responsibility to work with the government and with all stakeholders to jointly chart a path to true and lasting prosperity for Nigeria by harnessing the immense opportunities in the country.

He stated, “I once again offer you my solemn commitment to providing the enabling environment for every policy, legislation and action required for this to happen. During the campaign period, and inauguration of the present administration, I had engagements with stakeholders across the Nigerian manufacturing sector.

“We are very much aware of the problems and challenges that are uppermost in your minds: access to low-cost capital, challenges of multiple taxation, issues of infrastructure deficits, foreign exchange, export obstacles, amongst others.

“I'm happy to let you know that we are tackling with unprecedented boldness and decisiveness each and every one of these issues.”

In the area of taxation, Tinubu highlighted the setting up of the Presidential Committee on Fiscal Policy and Tax Reform, which was inaugurated in August. He stressed that the body had already submitted its interim report and was working on the next part of its mandate.

Tinubu said, “Our goal is to

increase Nigeria's tax revenue while also reducing the burden on individuals and businesses. It might sound like a contradiction, but it is not. By streamlining the number of taxes, introducing greater efficiency and blocking the loopholes, we can and will deliver less burdensome tax regime to businesses and employers of labour.

“In the foreign exchange market, we have abolished an unwieldy and much abused rates regime, setting the foundation for transparent prices and all of the other elements required to attract substantial inflows into a properly run official market.

“In infrastructure, we are supporting the states with seed financing for transformation and infrastructure fund. In addition to this, the petrol subsidy reforms have led to dramatic increases in subnational revenues, which means the states have more resources to invest in infrastructure and other critical areas.”

On access to capital, the president said he had directed the creation of a new single-digit interest rate fund to provide N75 billion to support manufacturing enterprises.

He stated that the Central Bank of Nigeria (CBN) was now under a new management and was reprioritising its mandates of inflation management and exchange rate stability.

Tinubu said, “If you look closely at the supplementary budget, you will find that it was designed primarily to support targeted interventions and initiatives that will cushion the effects of the temporary hardships caused by our much needed economic reforms.

“I will again seize this opportunity

to remind all Nigerians that I'm not unmindful of the hardships being faced by many in these difficult times.

They are, indeed, temporary, but the benefits will be permanent.”

Senate President Godswill Akpabio, who was represented by Ikechukwu Ugwuegede, an engineer and former commissioner, said the manufacturing sector had played a crucial role in the progress of Nigeria.

Akpabio stated that in spite of the progress, the technological gap between Nigeria and the developed world was widening.

“Unfortunately, it may continue to widen, until we come to the realisation that he who starts a race late will forever remain behind, except he runs faster than those who started earlier.”

Speaker of the House of Representatives, Tajudeen Abass, said the intersection of engineering and governance was particularly significant in Nigeria’s pursuit of sustainable growth and development.

Abass said, “The federal government’s integrated infrastructure master plan, launched in 2020, envisions investment of $2.3 trillion over the next 23 years, to bridge Nigerians infrastructure deficits.

“This ambitious undertaking underscores the critical role of engineering in addressing the nation’s infrastructure needs and laying the foundation for its economic prosperity.

“However, the success of this grand plan hinges on the convergence of engineering expertise with effective governance. Infrastructure developContinued on page 36

The appropriations bill would contain budget proposals for the 2024 fiscal year.

It would be the first budget Tinubu would present to the National Assembly since his inauguration in May. The presentation of the 2024 budget today indicates that the Tinubu administration would maintain the January to December budget cycle initiated by Buhari.

FEC had on Monday approved the 2024 appropriation bill of N27.5 trillion.

Fagbemi: Rising Debt Profile Danger to Economy

Fagbemi denounced the country’s rising debt profile, warning that it poses a serious danger to the economy.

He emphasised the need for government personnel at all levels to acquire relevant skills and training in the area of agreement drafting.

Fagbemi spoke yesterday, in Abuja, at the Body of Attorneys-General Conference and Meeting of the General Council of the Bar. He stated, "I also need to comment on the increasingly rising debt profiles of government at all levels, which pose serious danger and challenge to our national economy and existence as an independent nation.

"The Federal Ministry of Justice has, against this backdrop, initiated a collaborative framework with specialist firms to enable legal officers involved in drafting MoUs and other forms of binding agreements acquire required skills to identify possible areas of dispute or liability, which could lead to avoidable litigation or arbitration costs and judgement debt.

"We are willing to extend the support to legal officers in the various states in order to strengthen their capacities in this regard."

Fagbemi also stressed the need for collaboration in strengthening the entire justice sector, particularly, the administration of criminal justice sector, in order to meet the end goals of justice and the expectations of citizens.

According to him, the effectiveness and functionality of the justice system has direct effect on the overall development, stability and sustainability of the society.

The AGF urged the states AGs to ensure the full implementation of financial autonomy for the judiciary

party to do the same.

He held that the tribunal was in error when it dismissed Cole's petition on the ground that APC that sponsored him had withdrawn its petition against Fubara’s victory, adding that the decision of the tribunal was perverse and a miscarriage of justice.

However, Justice Adegbehingbe resolved the remaining issues two, three, four, and five against the appellant and held that the lower Tribunal was right when it dismissed the appeal for lacking in merit.

across our states as provided under Section 121(3) &(4) of the constitution, as a mark of their commitment to the ideals of democracy and good governance.

He said, "We should in this regard seek to robustly build the capacities of the judiciary, both in terms of personnel and infrastructure, particularly by investing in technologies that are necessary to automate vital aspects of our court operations and ultimately implement a digital justice delivery system."

Fagbemi added, "Next in the line of our engagements is the necessity to constructively work with the legislative arm of government.

“I encourage you all to actively engage the legislative arm of government in two major respects.

Firstly, in the area of reform of existing laws, wherever necessary, and, secondly, in developing new legislations- that would address critical gaps, particularly within our justice sector institutions and beyond."

The AGF stated that the main agenda of the conference was how to regularly and effectively use the instrumentality of the platform to solve problems and frictions arising from shared constitutional and statutory responsibilities as a federation, particularly, on critical issues for which the federal and component states may have divergent views.

In a goodwill message, Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Mohammed Monguno, stated that the conference was apt and timely. Monguno said the judiciary faced challenges and there was an urgent need to address emerging legal issues affecting the country, with particular reference to conflicting judgements, arising from election petition tribunals and the Court of Appeal in recent times.

He stated, "In this regard, I urge you all to partner with the National Assembly to ensure that obsolete laws pertaining to adjudicating processes are updated and streamlined to address emerging issues in our evolving jurisprudence.

"On our part as legislators, we are committed to embarking on multi-dimensional reforms that would reposition the nation's judiciary to face the challenges of the 21 Century, frontally and in tandem with global best practices."

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NEWS

UBA Foundation Garden Light Up Ceremony and Carol Evening...

L-R: Group Deputy Managing Director, Muyiwa Akinyemi; United Bank for Africa (UBA), Group Managing Director/CEO, Oliver Alawuba and Executive Director/GCOO, Alex Alozie, all of UBA during the UBA Foundation Garden Light Up Ceremony and Carol Evening, held at the UBA Foundation Garden, Marina Lagos ... yesterday

Electoral Reform: Stakeholders Want INEC Unbundled, Review of Appointment of Chair, Others Demand establishment of electoral offences commission N'Assembly committed to restoring citizens' confidence in process, says Akpabio Cross-carpeting should be proscribed, Jega declares Police should be empowered to prosecute electoral offenders, IG suggests

Chuks Okocha and Adedayo Akinwale in Abuja Key stakeholders, yesterday, renewed their call for the unbundling of the Independent National Electoral Commission (INEC), suggesting a review and the stripping-off of the president’s power to appoint the chairman, national commissioner as well as Resident Electoral Commissioners (RECs) for the commission.

The stakeholders also called for the establishment of the Electoral Offences Commission and recommended stiffer penalties for electoral offenders without the option of fines to serve as deterrent.

This call was made yesterday in

Abuja at the Citizens’ Town Hall on Electoral Reforms organised by the National Assembly Joint Committee on Electoral Reforms in conjunction with Yiaga Africa.

President of the Senate, Godswill Akpabio, said the event was targeted at addressing a crucial matter, which the leadership of the National Assembly considered very weighty and must be addressed for the democratic journey of the country to positively move forward.

At the same time, a former Chairman of INEC, Prof. Attahiru Jega said the reform was necessary to proscribe the habit of cross-carpeting, by politicians.

In the same breath, the Inspector

General of Police, Kayode Egbetokun, who said free, fair and credible elections were the bedrock of democracy, recommended that the Electoral Act should be amended and that the police should be given the power to arrest and prosecute electoral offenders.

Akpabio, who was represented by his Chief of Staff, Sylvester Okonkwo, noted that as representatives of the people, citizen engagement at all levels was crucial to the democratic process, adding that the 10th National Assembly intended to place engagements and inclusiveness as a priority.

His words: "For the electoral process, we are committed not only to go along with the people

on the call for reforms to the electoral legal framework, but at the same time, protect the independence of the Independent National Electoral Commission and also restore the trust of our people in the electoral process and we cannot in any way truly achieve this objective in isolation.

“All stakeholders, most of whom are represented here, must be doggedly involved in this. Therefore, my appeal to all of you and those that are not here, but are actors in this process is, let us do this together and change the fortunes of our democratic process for the good of our country. For history, we record every move that we make in moving this country forward."

Afreximbank, Kings College Sign MoA to Establish Medical, Nursing Schools in Abuja Dike Onwuamaeze

The African Export-Import Bank (Afreximbank) and the King’s College, London yesterday signed a Memorandum of Agreement (MOA) that set the stage for the feasibility of establishing a state-ofthe-art medical and nursing school alongside the African Medical Centre of Excellence (AMCE) in Abuja.

A press release that was issued yesterday by Afreximbank said that the scoping study is expected to commence forthwith and will be completed by May 2024.

The signing ceremony, which took place on November 24, at the Strand Campus of King’s College London, marked another milestone in Afreximbank’s efforts toward a positive transformation of Africa’s healthcare sector, the bank said.

Speaking on the MoA, the President of Afreximbank, Prof.

Benedict Oramah, said: "Today marks a historic milestone as we proudly unveil a transformative partnership with King's College London.

“This collaborative effort goes beyond a partnership; it represents a bold step towards an empowered healthcare landscape, defining a new era for the continent.

“The establishment of a cuttingedge medical and nursing school is a significant stride towards ensuring that Africa possesses the expertise and resources to meet its own

healthcare needs.

“With the support of King's College London, this partnership holds the potential to transform Africa's healthcare sector, delivering quality healthcare workers, doctors, nurses, and scientists not only for Africa but for the world.

“Together, we embark on a journey that not only bridges the healthcare gap but also redefines the standards of medical education in Africa."

Speaking in the same vein, the Deputy Vice President, Global Business Development at King’s, Dr. Helen Bailey, expressed the organisation’s commitment to be in service to society.

“This couldn’t be clearer than in our work to help address global challenges through partnerships and collaborations, such as this project to support access to high quality healthcare in Nigeria and Africa. “ The signing of the MoA marks a key step in our partnership with Afreximbank and further strengthens this commitment,” she said.

Also, the Senior Vice President (Health & Life Sciences) at King’s Prof. Richard Trembath, said: “Our shared vision is rooted in the belief that health and education are foundational pillars for thriving communities.

“Combining our expertise and resources, we strive to create a ripple effect, influencing positive change in the healthcare landscape and contributing to the overall prosperity

of African societies.

“Through the development of the medical and nursing schools, we aspire to set new benchmarks in health-related excellence and support academic enrichment. Together, we seek to enable an enduring impact for well-being of populations across the African continent."

Similarly, the Director of Medical Education at King’s College Hospital NHS Foundation Trust, and Medical Director for Nigeria and West Africa

with King’s Commercial, Dr. Tunji Lasoye, said that he was delighted that King’s College London and Afreximbank signed the MoA to test the feasibility of establishing a medical and nursing school in Abuja, Nigeria.

The statement added that the project would draw on King’s world-leading insight and expertise in healthcare education and training to create a model that would benefit the entire African continent.

The Senate President explained that the committees in the Senate and House of Representatives had approached this process in a way that would be most beneficial, especially in terms of completing this process, within a reasonable timeframe.

He assured the people that the leadership of the National Assembly would give all the support to the committees in achieving its objectives.

The Inspector General of Police, Kayode Egbetokun, who said free, fair and credible elections were the bedrock of democracy, recommended that the Electoral Act should be amended and that the police should be given the power to arrest and prosecute electoral offenders.

His words: "The first is on the issue of arrest at polling units. Section 5(1) of Electoral Act 2022 empowers the police to make arrests when an electoral offence is committed at the polling unit, subject to the directive of the electoral officer. It is our humble submission that the police should be at liberty to make arrests of suspects/electoral offenders, who commit or are found to be committing electronic offenses in their presence.

"Now the issue of getting an Electoral Officer to instruct the police to carry out arrests has been a very controversial matter. Recently, we had a situation where the man who was to give the directive was the suspect. So, how do you expect the police to handle that kind of situation?

"The second aspect is on the issue of prosecution of electoral offenders.

By virtue of Section 146(1&2) of the Electoral Act of 2022, prosecution of all electoral offences is to be carried out by the Legal officers of the Independent National Electoral Commission. This means that the police only make arrests when necessary, investigate and hand over to the commission for prosecution."

Egbetokun pointed out that the prosecutory powers should also be extended to the police, who make arrests and carry out investigations, adding that electoral offences would be more successfully prosecuted.

According to him, “That will give us the ability to keep up on the successful prosecution of those cases, because in most cases, the police are left in the dark as to which of the offenders have been successfully prosecuted.”

Egbetokun further that there was need for police personnel to carry arms on election day, adding that the era of posting security personnel for assignment without being armed was outdated, especially considering the fact that the society has become highly militarised.

According to him, in most cases, armed thugs would invade the polling unit and everybody scamper to safety, including the security personnel because they lack the capacity to even defend themselves before defending the electorate and other people.

Continues online

Tunji-Ojo Enjoins Nigerians to Stop Stigmatisation of Freed Inmates Wole Ayodele in Jalingo

Minister of Interior, Dr Olubunmi Tunji-Ojo, has appealed to Nigerians to stop stigmatising inmates who are set free or have completed their terms.

Speaking at the Jalingo Medium Security Correctional Centre during the official release of 20 inmates whose fines and compensation were paid by the government, the minister urged the society to assist freed inmates to resettle back to their various communities.

A Deputy Director in the ministry, Mr Garba Mohammed, who represented the minister on the occasion

appealed to the freed inmates to go and establish the trades they learnt at the correctional centre and shun crime in all ramifications.

He disclosed that over 4000 inmates would regain their freedom across the country as part of efforts to decongest the correctional centres, saying the decision was solely the initiative of the minister.

Besides, he revealed that the minister had made provision for the freed inmates to be given N10,000 each for transportation back to their various homes and communities.

He tasked the Taraba state government and other well-meaning

individuals to take a cue from the minister and endeavour to pay the fines and compensations of inmates.

"There are people who were brought here because they could not pay fines of less than N1,000 and are languishing in jail," he lamented.

He admonished the freed inmates to be good ambassadors of the correctional centre and be of good conduct wherever they find themselves, saying their coming to the centre was to be reformed and be better persons.

The Chief Judge of Taraba state, Justice Filibus Agya who was represented by the Chief Registrar,

Bartholomew Kaigama, commended the minister for the gesture and expressed the readiness of the state judiciary to collaborate with the ministry of interior to decongest correctional centres in the state.

"This is a commendable effort and we're ready to collaborate with the minister to decongest correctional centres in the state.

We started the process in 2022 and we'll support any initiative in that regard," he noted.

Earlier in his welcome address, the Controller of Correctional Services in the state, Mr Emmanuel Okoro, noted that the exercise was the first of its kind in the country.

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politics

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

Much Ado About Imo 2023 Gubernatorial Poll

Tony Icheku writes that controversy continues to trail the November 12, 2023 Gubernatorial Election in Imo state with most observer groups that monitored the poll calling for outright cancellation of the exercise due to reported irregularities associated with the election.

Uzodinma

Anyanwu

A

campaign posters and billboards of the APC candidate, Governor Hope Uzodimma, adorned every nook and cranny of the state.

Other candidates were denied this privilege as the State owned Imo Signage and Advertisement Agency imposed a heavy N54 million fee for billboards and posters and other campaigns.

The civil society organisation/ Election Observer Yiaga Africa during a pre-election briefing described the N54 million fee as a repressive policy targeted against the opponents of Governor Hope Uzodimma “The exploitation of incumbency powers against candidates undermined the opportunity for fair competition”, it argued.

credible, transparent, free and fair election stands on such measurable pillars like compilation of current and accurate voters register; independent electoral umpire and freedom of political parties to nominate its candidates. Though, other requirements like fair campaigning and access to the media may not be strictly measurable, they remain indispensable in measuring a free and fair election.

In the November 12, 2023 governorship poll in Imo state, only the ruling All Progressive Congress’ candidate had access to outdoor media advertising.

Fair campaign provides for all political parties to have equal opportunities to campaign and access both conventional and non conventional media, but the Imo election was bereft of this vital requirements as throughout the campaign period, only the banners, flyers,

Achonu Acceptance of election results by all parties also count in endorsing an election as free and fair, but at the State Collation centre, the Labour Party (LP) agent who attempted to raise some concerns was brutally assaulted by thugs and bundled out of the hall.

These are some of the obvious infractions dogging the election as the parties which were pronounced losers fight to air their grievances.

Indeed both winner and losers have their story as to whether the election was was credible, transparent, free and fair following the declaration of results by the Independent National Electoral Commission (INEC) which declared Governor Hope Uzodimma of APC winner with 540,308 votes, with Senators Samuel Anyanwu and Athan Achonu respectively of the Peoples Democratic Party (PDP) and Labour Party placed second with 71,503 votes and third, with 64,081 votes respectively.

On one side, the INEC and Uzodimma endorse the election as credible, transparent, free and fair, but Anyanwu of the PDP and Achonu of LP, both argue they were robbed in a process that was anything but free, fair or transparent.

Not even other bodies like security agencies, and election observers that were supposed to be neutral in the election could reach a consensus whether the election was free or fair.

INEC, Allegations of Bias Even before the election, the PDP and LP were persistent in their allegations that the Imo State Resident Electoral Commissioner, Professor Sylva Agu, is compromised and working for the APC. They insisted that she must be deployed.

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

Adeleke: One Year in Saddle as Osun Governor

Sarafa Ibrahim writes about the efforts of Governor Ademola Adeleke to turn around for better the fortunes of Osun state as he marks one year in office.

G

overnor Ademola Adeleke of Osun state would on Monday mark a year that he took the oath of office. And like every administration, there will certainly be an opportunity to look back and compare what things were like when he assumed office to be able to measure the scorecard of Governor Adeleke in 365 days.

In one year, Governor Adeleke has demonstrated a true sense of service in many aspects of governance, despite the difficult situation he inherited. When Adeleke took office a year ago, there were a lot of things considered impossible, but are now possible, largely due to the firm commitment to good governance.

One year ago, heavy debt burden, reckless looting of public assets, and distressed public infrastructure had drained hopes of meaningful governance.

ACanadian-bornAmerican economist and public servant, John Kenneth Galbraith, provided some clarity to the question of the essence of leadership when he opined that “All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their times. This, and not much else, is the essence of leadership.” And looking at Osun in one year and the incredible turnaround that Governor Adeleke has been able to achieve in almost all sectors, you will not agree less with the conclusion of Galbraith.

Adeleke understands that being a Governor means pursuing the general good rather than the self-interest that defined the past. This explains why many policies, activities, and interventions of the Governor in one year focus on helping the people overcome the horrible experience of the past for something relishing and promising about the future.

The strides of Adeleke in one year in office can not only be felt but visible for all to see. And impressively, the touch of the Governor’s impact-

Adeleke ful governance cuts across the state and sector, departing from the concentration of government presence in one place that defined the past.

Out of sheer and deliberate mischief, some people deride it, saying nothing has been achieved so far. This is in spite of the fact that many of their failures while at the helm of affairs are being undone for a better experience for the people. Well, when you have become accustomed to failures, it would be hard to appreciate serious efforts to touch lives positively.

The Osun APC is so engrossed in its maladministration that it will not be able to see the impressive turnaround of the state from the hopelessness it inspired to one that is promising. Take, for instance, that for 48 months that Gboyega Oyetola was the Governor of Osun State, he did not attempt to defray the 30 months half salary owed workers and pensioners despite being a part of the government that incurred it.

In one year, however, Governor Adeleke has paid three months from the owed wages, and will most likely be making the fourth payment before this year runs out. This is aside from the implementation of the financial implication of promotion given to workers in the state since 2019.

Just like the half-salary debacle, former Governor Oyetola approved a promotion for civil servants in 2019 but refused to implement its financial implication.

In essence, the promotion was merely a paper award, or as some would call it, ‘audio promotion’ untilApril of this year whenAdeleke implemented the payment of the money earned through the promotion to civil servants.

Between November 27 and now, the Governor has expended over N17 billion in pensions and gratuities payment out of the humongous over N76 billion liability inherited from the previous government.

On November 8, 2023, Governor Adeleke did something unprecedented, not just in Osun but the whole of Nigeria, as he enrolled the entire retirees in the state on healthcare coverage. The intervention, which will benefit at least 23,000 pensioners in Osun state, will take up the burden of managing the health challenges that confront the senior citizens, which usually come at a huge cost to them, and are difficult to handle, causing untimely deaths.

And so far, the Adeleke administration has constructed and delivered over 50 kilometers of roads across the state while about 50 kilometers of roads are at different stages of completion.

Broken culverts were restored for public use while channelization of waterways was undertaken by the Adeleke administration to prevent homes from being washed away by flood.

To cap it, the Governor few weeks ago unveiled an ambitious infrastructure plan, underscoring his firm desire to address the infrastructure deficit and open up the state for industrialization to

drive meaningful progress and prosperity for the people.

In the infrastructure plan, at least five overhead bridges will be constructed in the state, with two of such to be situated in Osogbo, while the remaining will go to the two other senatorial districts. And to note that the infrastructure plan will be funded without any loan from financial institutions, to the extent of burdening the future, makes it even more superb.

And not just overhead bridges, but the dualization of identified roads in Ede, Osogbo, and Ilesa in a bid to ease traffic jams and reduce accidents.

In addition to this, Adeleke will be undertaking the construction of a total of 45 kilometers of roads across the state, with each local government having at least 1.5 kilometers to improve connectivity and enhance the local economy.

Some weeks ago, the Vice Chancellor of the state-owned university, Professor Clement Odunayo, relayed the remarkable transformation that the institution has seen under the Governor, detailing the unusual intervention of Adeleke that revived a 52-office complex that was abandoned by the previous administrations.

It is worth noting that the access road to the teaching hospital of the institution being built by its Chancellor, Folorunso Alakija, is undergoing construction after prompting by the Vice Chancellor.

That is awesome, right? But that was not all.

Public school buildings across Osun state are getting a major facelift to give students and teachers the right environment to advance qualitative learning.

-Ibrahim is Special Assistant to Osun State Governor.

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

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T H I S D AY • WEDNESday NOVEMBER 29, 2023

FEatures

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

Inspiring the Future: WISCAR Founder on Empowering Women to Take Charge

Amina Oyagbola is an independent director, business leader, mentor, and former human resources and corporate services executive at MTN Nigeria Communications Ltd. With over three decades of experience, her career spans legal consulting, banking and finance, energy, and telecommunications. She is the managing consultant of AKMS Consulting Ltd and a partner at Oyagbola Chambers. A passionate advocate for diversity and inclusiveness, she is also the founder and chairperson of WISCAR, Women in Successful Careers, a not-for-profit strategic mentoring and leadership initiative for professional career women.

Ahead of the 2023 Annual Leadership and Mentoring Conference, Precious Ugwuzor brings excerpts of WISCAR and its mission to close the gender gap and empower the next generation of professional women for leadership

W

hat inspired you to establish WISCAR and what is its mission?

Women in Successful Careers (WISCAR) is a non-profit, non-governmental organization dedicated to propelling professional women to the forefront of Nigeria and Africa's development and growth.

Drawing inspiration from ALIWA (Africa Leadership Initiative West Africa), WISCAR strives to cultivate a powerful network of female professionals equipped to lead, drive social innovation, and make critical decisions that will usher in a new era of excellence in the workplace.

We firmly believe that empowering professional women to assume decision-making roles across all levels will generate a ripple effect that unlocks women's potential, enhances female representation in the workforce, enriches the talent pool, drives innovation and productivity and contributes to improved organizational performance and prosperity, that propels national socio-economic growth and development.

How has WISCAR contributed to empowering and supporting women in pursuing successful careers?

WISCAR champions gender diversity, inclusivity, equity, and parity in the professional realm, aligning with the UN's Sustainable Development Goal 5. Our signature WIN with WISCAR mentoring program is a meticulously crafted and structured initiative that provides strategic career guidance, inspiration, and support to bold women, empowering them to unlock their full potential, navigate career trajectories, nurture aspirations, and become catalysts for positive cultural and policy transformation within their organisations and spheres of influence.

Over the past 15 years, WISCAR has collaborated with diverse organizations to develop and replicate the WIN with WISCAR mentoring model. Therefore, WISCAR has equipped over 15,000 professional women and men with the necessary skills and competencies to effectively manage their careers, ascend to leadership positions, and contribute meaningfully to national development.

What specific initiatives and programs does WISCAR offer to promote women's leadership and mentorship?

The WIN with WISCAR Mentoring Program is a carefully designed and crafted initiative designed to bridge specific competency gaps and equip selected beneficiaries with the essential skills required to progress their careers. Our WISCAR WIN I & II School of Excellence programs cater to young women in the early stages of their professional journeys in the workplace. Women with 1-3 years of post-NYSC work experience are enrolled in our WIN 1 - Talented Beginners program, while those with 4-10 years of work experience are carefully placed in our WIN 2 - Learning to Leap program.

At the pinnacle of WISCAR's flagship mentorship programs stands the WIN 3 Mentorship Programme, specifically designed for high-achieving and high potential career women aspiring to transit to C-Suite and Board positions. These competency-based development programs are strategically aligned to cultivate strong leadership skills, foster personal mastery, and enhance overall workplace effectiveness, all tailored to the career aspirations and goals of each participant.

The transformative impact of this program is evident in the impressive applications we continue to receive. With over 800 women

participation in corporate leadership, governance, and politics for our collective advancement as a nation. The insights shared by thought leaders and esteemed speakers at this year's conference will touch on the pertinent economic challenges, and the need for collective action which is the cornerstone of our advocacy efforts in the ensuing year. The gender agenda is a national agenda.

What are the key takeaways or messages you hope attendees will gain from this year's conference?

In line with its established tradition, the conference will feature a distinguished panel of leading women who have made significant contributions to nation-building across various fields, including social innovation, arts and culture, entrepreneurship, media, and the corporate landscape. The panel will also include a male ally who will share his perspective on the discourse. The event will also provide ample opportunities for networking, capacity building, and the exchange of ideas. Additionally, this year's conference will place a strong emphasis on identifying and generating actionable recommendations that will pave the way for gender equality, women’s empowerment, inclusive growth, and sustainable national development.

Oyagbola empowered through the WIN with WISCAR Mentorship program, and many more to follow in the years to come, we as pleased with the difference we have made in peoples lives.

We look forward with the support of our sponsors and strategic partners to advancing gender equality and women’s empowerment by enabling diversity and inclusion by developing women to build a better nation.

Can you expand on WISCAR’s annual conferences and this year’s edition?

The WISCAR Annual Conference serves as a transformative gathering where exceptional women, renowned speakers, policymakers, and thought leaders from around the globe converge to share their insights and engage in crucial conversations and meaningful interactions. This platform inspire through role modelling, empowers professional women to take the lead in driving positive societal change, and generates actionable recommendations that contribute to inclusive and sustainable national development.

The 2023 WISCAR Annual Leadership and Mentoring Conference will be held on Saturday, 9th December 2023 from 9:00 am to 3.00 pm at Muson Centre, Onikan, Lagos. It will be preceded by a mentoring walk on Saturday, the 25th of November 2023 to flag off

the conference. This will take place at Eko Atlantic City, Lagos.

What is the significance of the theme "In Her Own Voice: Forging Ahead" for this year's conference?

The theme for this year's conference, "In Her Own Voice: Forging Ahead," is call to collective action. It signifies our unwavering commitment to achieving gender equality, empowering women, fostering inclusive governance, and promoting sustainable development. This theme underscores the powerful voices of women and male allies, voices that are both enduring and progressive. It represents the voice of a generation of people poised to break new ground towards a more inclusive, equitable and prosperous society that leaves no one behind.

What role do you think the annual conference plays in terms of proffering practicable solutions to challenges affecting women?

The WISCAR Annual Conferences has evolved and continues to attract key actors and stakeholders who share their ideas, discuss and proffer solutions to the relevant and pressing issues of our time. We firmly believe that the WISCAR convenings and forums provide a crucial platform to spotlight the gender inequalities and disparities towards addressing them and influencing necessary legal and policy changes for socio-economic development. Our unwavering commitment lies in accelerating women's inclusion and

Our unwavering commitment lies in accelerating women's inclusion and participation in corporate leadership, governance, and politics for our collective advancement as a nation

How will the conference provide opportunities for networking and engagement among women in various professional fields?

Our annual leadership conference is designed to create a vibrant, nurturing, and supportive environment for women from diverse professional backgrounds to connect, share experiences, and forge meaningful connections. We will provide opportunities to network and interact and actively encourage participants to engage with each other, expand their professional circles, and build lasting relationships. We believe that by fostering a sense of community and collaboration, we can empower women to leverage their collective strengths and advance in their respective fields.

What is your vision for the future of WISCAR and how do you see the organisation continuing to impact women's professional lives?

I envision a future where WISCAR continues to empower and support women to achieve their professional goals. I see the organisation expanding its reach and impact across the African continent by fostering collaboration with like-minded organisations, both locally, regionally, and internationally on strategic issues.

Through our collaboration with UN women, WISCAR as private sector liaison has pioneered the establishment of a $25million private sector led Gender Based Violence Fund.

Through this collaboration we are also driving affirmative procurement and have advocated for the use of the UN Women Empowerment Principle (WEPs) to drive the gender agenda in organisations. We are delighted that 150 companies have signed on to the WEPs and we are still counting. We look forward to sharing the outcomes and results with you.

WISCAR will continue to build capacity and provide a platform for women to connect, share experiences, and learn from each other.

Through mentorship, training, and advocacy programs, WISCAR will help women overcome barriers and pave the way for a more equitable and inclusive workplace. WISCAR's vision is to create a world where women and men are equally recognized and valued for their contributions to society and have the opportunity to thrive in their chosen career.

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WEDNESDAY NOVEMBER 29, 2023

The Tinubu administration is walking the talk, writes FREDRICK NWABUFO

SONNY ARAGBA-AKPORE argues it is making a difference especially in the remotest parts of the continent

IN THE SPIRIT OF LEADERSHIP WILL SATELLITE BRIDGE AFRICA’S INTERNET CONNECTIVITY? With great opportunity, comes great responsibility. Leadership is a sacerdotal responsibility that demands a purity of purpose, clarity of mind, unwavering of discipline, a catalogue of abilities, and a fistful of audacity. It demands deliberateness and conscientiousness in the management of public trust. And beyond good intentions, leadership is a maze where the pluck of personal example is lodestar.

The Tinubu administration is walking the talk. It is demonstrating that with the audacity of vision, leadership can turn possibilities into actualities. Naturally,

leadership needs to show a ground-plan out of a quandary of command rudderlessness.

It needs to set the pace and mobilise consciences for its vision and plan. It needs to begin. The administration began the rallying for its vision long before it began.

There is a clear direction. The trajectory is certain. The destination of ‘’Ship Nigeria’’ is auspicious. Long before the inauguration of the administration, a policy advisory council was set up to distill, ideate, iterate, and harmonise policy options across all sectors in line with the Renewed Hope Manifesto. Sufficient effort went into the groundwork, and now a framing of the architecture.

There is purposefulness and design in the conduct of government business.

There is also gravitas and dispatch in the management of government responsibility.

The administration has been very attentive and responsive to the critical needs of citizens, acknowledging the weight of the challenges and the urgency of the moment.

For instance, within a few weeks, the Nigeria Immigration Service cleared a backlog of 204,332 passports that were outstanding for production. This was possible owing to the efforts of the ministry of interior. Today, Nigerians, even those abroad, can apply for new passports, get captured, and receive their documents in record time. The ministry is also on a

prison decongestion pursuit, with over 4,000 inmates, who were unable to pay fines, released. The fervour, zeal, and dedication of the Tinubu administration.

There is more to be done, but there is a nudge forward.

In the mining sector, there is movement and there is headway. This sector had been the subject of controversies over illegal mining activities and insecurity.

But all of that is changing. The sector is witnessing operational adjustments and shift for performance as well as an uptick in investment interests. The ministry of solid minerals recently launched the revised guidelines for Community Development Agreement (CDA). This is to create a salubrious biome for mining.

Also, the Mining Cadastral Office initiated a revocation process for 2,213 titles including exploration titles, small-scale mining licences, quarry licences, and mining leases. The revocation followed a 30-day notice period which expired on November 10 – with only 580 title holders settling their debts, leading to the recommendation to revoke 1,633 mineral titles. It is no longer the quotidian pattern of business in these parts.

This sense of urgency, enterprise, and resoluteness in response to the demands of the times runs through the operational arteries of the administration, and visible across other sectors – aviation, trade and investment, finance, agriculture, security, etc. It is a performance and goal-driven leadership. Possibilities can become actualities.

Transparency is a vital ingredient of leadership. Earning the people’s trust and keeping it requires a good measure of transparency and honesty. And this the administration is sustaining.

There is no obfuscation of facts and needless trafficking of propaganda. The Nigerian people are the top factors of the leadership. Communication is unvarnished -- without sizzles or tizzles.

This defining quality of sincerity can be seen in the management of issues relating to labour strikes, petrol subsidy removal, the economy, and others.

Recently, the federal government announced the suspension of the automatic deduction of 40 percent from the internally generated revenues of federal universities, following a fusillade of concerns by citizens and stakeholders.

“The 40 percent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling,” this was a statement of attunement and of leadership.

Nigerians are the top priority in this new spirit of leadership. They are the principal interest and fundamental components of decision-making.

It is all in service to Nigeria and in the spirit of leadership -- with grit, empathy, prescience, probity, and example.

Nwabufo is Senior Special Assistant to the

While terrestrial infrastructure and mobile networks appear to hold the aces in terms of broadband internet connectivity, satellite operators have raised the bar in taking services to many unserved and underserved communities across Africa.

By the last count, no fewer than 21 satellite operators dot the Europe, Middle East and Africa (EMEA) zones providing services in that regard.

Satellite operators enable development of the world’s remotest and poorest regions where the lack of terrestrial infrastructure and mobile networks prevent connectivity and all the socioeconomic benefits that come with it. But the cost of acquisition is still on the high side despite the beauty it provides.

Only a third of Africa’s population has access to the internet and of the nearly 25 countries in the world that are poorly covered by internet connectivity, 21 of them are in Africa. So, in order to attempt a bridge for the connectivity, satellite operators think they could make a difference.

While voice communications remain high and on a steady rise, the internet is still a nightmare in parts of Africa which is yet to realize its full potential. Nigeria, Egypt and South Africa remain on top of the game as

connectivity remains high both for the internet and voice communications.

In these countries, Average Revenue Per User (ARPU) remains encouraging for network providers. But satellite operators are itching to make a difference especially in the remotest parts of the continent.

The EMEA Satellite Operators Association brings together all satellite operators active in providing communications solutions to the African continent.

For much of Africa, terrestrial and mobile networks are clustered around urban centres, leaving thousands of rural and remote citizens and businesses without voice, let alone data, connectivity.

Records show that more than 100 million people in Africa don’t have access to communications. In Nigeria alone it is estimated that more than 20 million people are not covered by any kind of network despite efforts of regulator, the Nigerian Communications Commission (NCC) to mitigate the situation through interventionist measures.

Yet a single satellite can provide ubiquitous communications over one third of the earth’s surface.

Today all of Africa is covered with satellite communications, operating mainly in C, Ku and Ka frequency bands, delivering affordable,

reliable and robust services across the entire territory.

Through satellite services, the continent has immediate access to some of the world’s most advanced technologies such as broadband connectivity and 3G communications which are taken for granted in developed countries. Some countries including Nigeria, Egypt, Ghana and South Africa have 4G and 5G communications.

In order to provide essential services therefore, satellite operators have delved into areas like education, telecommunications, agriculture, hospitality services, logistics , telemedicine among others since Satellite operators enable multiple applications and services that significantly improve the welfare of African citizens.

ESOA members provide tools that allow African countries to enhance their democratic processes and civil governance, plan and build new infrastructure, provide access to education, establish health and disease management processes, revitalise social and cultural life, and as a result reduce the crippling disparities created by the Digital Divide.

EMEA Satellite Operators Association (SOA) says satellite communications is making a huge difference “in educating both teachers and students in schools and colleges, especially in remote and rural areas.”

It states that “with teaching levels still falling short of adequate standards, many African countries see large numbers of children emerging from school functionally illiterate. It is therefore essential to ensure both pre-service and in-service teachers are trained on the new curricula many African countries are using.”

Here eLearning through Satellite communications helps by making the process fast and cost effective, ensuring at the same time high quality standards everywhere, even where terrestrial networks are not available.

ESOA metamorphosed into Global Satellite Operators Association (GSOA) and expanded its membership from Europe, Middle East and Africa in 2021 thus bringing in operators in Asia and the Americas.

It also expanded its scope into major aspects of human endeavors thus signposting a new approach to satellite communications with emphasis on broadband connectivity in all the countries and territories where it has footprints.

But in the era of multi stakeholders interest where space actors are dominated by private companies, the costs of satellite communications appear to be high thus creating exclusivity to operators in the regions.

In the face of disruptive technology empowered by some of the non state space actors like Elon Musk and his Starlink recently Licenced in Nigeria but with footprints in virtually all the continents in the world, it’s disruptive agenda has raised the bar for players especially in Africa where there appears to be a weak link by private sector players.

Aragba-Akpore is a member of THISDAY Editorial Board

WEDNESDAY NOVEMBER 29, 2023 • T H I S D AY

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WEDNESDAY NOVEMBER 29, 2023 • T H I S D AY

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Advertorial

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T H I S D AY

WEDNESDAY NOVEMBER 29, 2023

EDITORIAL

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

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LANDING AT THE WRONG AIRPORT Foreign pilots should be familiarised with the airports and their codes

high risk. Most airlines wet lease aircraft, which ast Sunday, a United Nigeria Airlines means that the aircraft they lease must come with flight to Abuja took off from the crew. In this case with United Nigeria Airlines, Murtala Muhammed International both the pilot and flight officer are foreigners and Airport in Lagos. About 50 minutes the aircraft started operation in Nigeria just two later, the aircraft landed at Asaba months ago. The implication is that the pilots are airport. The cabin crew announcer not familiar with Nigeria’s airspace. duly informed the passengers they had arrived A policy was contemplated in the past, especially their Abuja destination, thanking them for their after the tragic air crash in 2012, that one of the patronage. But when the passengers disembarked, cockpit crew in any flight in the country must be they were shocked to realise that they were in a Nigerian.

The Accident Investigation Bureau Asaba, Delta State, and not Abuja as announced. report of that crash revealed that the pilot and flight Not finding the courage to explain what caused officer were foreigners, and that the tragic accident the mix-up, a crew member told the exasperated might have been averted if the pilot had returned passengers that the pilot diverted the flight due to to base or requested to land at the international bad weather in Abuja, a lie that has been refuted by runway, R18R, instead the Nigerian Airspace of the domestic runway, Management Agency R18L, which took a little (NAMA).

Although this lapse cannot be described as a serious incident, it longer to approach. The Reports have Nigerian Civil Aviation confirmed that the nonetheless points to systemic challenges that need to be addressed Authority (NCAA) may ground staff that have to revisit that policy urgently dispatched the flight because a pilot familiar in Lagos gave the pilot with Nigeria’s airspace the wrong flight plan. would have realised that Instead of ABV (Abuja), T H I S D AY the flight was not heading to Abuja after take-off it was ABB (Asaba) that the pilot imputed into the EDITOR SHAKA MOMODU and would have rerouted the flight to desired DEPUTY EDITORS WALE OLALEYE aircraft system. What that development indicated MANAGING DIRECTOR ENIOLA BELLO destination or return to base. is a lack of coordination at the airline because DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU Although this lapse cannot be described as a interactions among the crew would have exposed CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI serious incident, it nonetheless points to systemic the destination error. What was surprising is that EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN challenges that need to be addressed urgently.

THE OMBUDSMAN KAYODE KOMOLAFE throughout the flight neither the pilot in command Nigerian airlines should adopt it as part of their nor the flight officer made any announcement standard procedure to always fly with a Nigerian in to the passengers, perhaps because of language the cockpit, even on the jump seat. Also, to prevent barrier. That may also explain why there was such incident from happening again, airline crew no communication between them and the two T H I S D AY N E W S PA P E R S L I M I T E D should have a briefing before embarking on a flight EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA Nigerians in the crew, which would have revealed and the purser (head of the cabin crew) should GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, the error even before the flight took off in Lagos.

ISRAEL IWEGBU, EMMANUEL EFENI reconfirm flight details from the pilot in command Since after the Covid-19 lockdown in 2020, DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, before boarding passengers. Before foreign pilots Nigerian airlines have suffered depletion in their ANTHONY OGEDENGBE are allowed to operate in Nigeria, they must also aircraft fleet. The forex crisis has compounded the DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI be briefed about the airspace and their Nigerian SNR. ASSOCIATE DIRECTOR ERIC OJEH problem. This has forced some airlines to abandon counterpart must pre-emptively familiarise them ASSOCIATE DIRECTOR PATRICK EIMIUHI their aircraft maintenance overseas while resorting CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI with the names of different airports and their to aircraft leasing with stringent conditions due DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO codes. to the categorisation of Nigeria as country with TO SEND EMAIL: first name.surname@thisdaylive.com

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

LETTERS QUALITY OF SERVICE IN THE COMMUNICATIONS SECTOR The Nigerian telecommunications sector has undergone a remarkable transformation, evolving from a modest network of fewer than 500,000 connected lines to a staggering 200 million over two decades. This growth serves as a testament to the country’s progress in the realm of connectivity and economic development.

The Nigerian Communications Commission (NCC), continues to play a pivotal role as the regulator, placing paramount importance on ensuring the Quality of Service (QoS). It is sad to note that QoS was an issue at the beginning. By beginning, we are talking of the licensing of GSM operators and commencement of service in 2001 (for convenience we’ll ignore the NITEL Years). QoS is still an issue today.

QoS, in essence, encapsulates a comprehensive set of measures and standards aimed at delivering consistent and topnotch telecommunications services to end-users. It’s not just about providing connectivity; it’s about ensuring reliability, network performance, data speed, and an overall seamless user experience.

The significance of QoS cannot be overstated. For consumers, it means experiencing uninterrupted connectivity, swift access

to information, and seamless communication. Meeting these expectations directly influences customer satisfaction and loyalty.

Beyond consumers, businesses benefit immensely from superior QoS, gaining a competitive edge, retaining customers, and building a positive brand reputation. Conversely, subpar QoS can lead to customer dissatisfaction and loss, affecting both consumers and businesses alike.

Achieving superior QoS hinges on several key strategies.

Continuous investment in robust infrastructure forms the backbone, ensuring reliable connections and network expansion. So far, over $76 billion has been invested in the sector in over 20 years. With the country’s landmass and huge population, it is crystal that much more investment is required to boost QoS. In addition, embracing cutting-edge technologies like 5G, AI, and IoT can further enhance speed, capacity, and network efficiency. Fortunately, operators are already working in these spheres.

The regulator, NCC has a critical role to play in setting and enforcing QoS standards, ensuring service providers maintain a certain quality level. Experts concede that the regulator is doing what it can. It evidently is not enough.

So today, despite best efforts, challenges persist. Take network congestion. Network congestion during peak times poses a significant hurdle, necessitating innovative solutions like load balancing and network optimization.

Moreover, stringent security measures are essential to protect against cyber threats and safeguard user privacy, both integral components of reliable services.

There is also an urgent need for the protection of physical infrastructure and equipment. It is time to heed calls to classify telecommunications infrastructure across the country, as Critical National Infrastructure (CNI). Telecommunications today are an indispensable asset in the quest for national development and economic growth, infrastructure that supports the provision of service must be kept safe.

Moving forward, collaboration among telcos, regulators, and tech providers is vital to setting and achieving QoS benchmarks while fostering innovation. Continuous evaluation, feedback mechanisms, and adaptation to emerging technologies are crucial in meeting evolving consumer needs.

Elvis Eromosele, elviseroms@gmail.com

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WEDNESDAY, NOVEMBER 29, 2022 • T H I S D AY

polity Ken Saro-Wiwa and the New Pressure for Economic Justice Vincent Obia

“O my body, make of me always a man who questions!”

–Frantz Fanon in Black Skin, White Masks

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ovember has formed an indelible spot on the collective memory of the Niger Delta for nearly three decades. The region and, indeed, Nigeria, have ever since marked a bitter anniversary on November 10. On this day, 28 years ago, Ken Saro-Wiwa, an illustrious Ogoni son, a Niger Delta patriot, an eminent Nigerian citizen, and distinguished environmental justice advocate, was killed by a military cabal headed by Gen. Sani Abacha.

Saro-Wiwa got in the way of those who thought they had unimpeded liberty to mindlessly exploit and devastate the Niger Delta. He questioned the evil ideology, which isolated people from the resources of their God-given land, but placed upon them the full brunt of the exploitation and expropriation of those resources. He posed the Niger Delta question!

Saro-Wiwa dared to ask questions! His questions and his boldness rankled the ruling cabal, then supervised by the Abacha junta.

Saro-Wiwa led a peaceful movement for the protection of the environmental and human rights of his Ogoni people, whose oil-rich land, like other parts of the Niger Delta, was being exploited by a ruthless alliance of the Nigerian state and multinational oil companies led by Shell.

He led peaceful marches, under the aegis of Movement for the Survival of Ogoni People (MOSOP), which they formed in 1990, to demand a fair share of oil revenues accruing from Ogoni land, some form of political autonomy to decide their own destiny, environmental remediation by the oil companies, and payment of compensation for past damage.

For daring to question the economic exploitation of his people, the devastation of their environment, and their political marginalisation, Saro-Wiwa was in and out of prisons and penitentiaries. Then in May 1994, he was abducted by state agents from his home and jailed along with other MOSOP leaders on flimsy allegations of masterminding the murder of four Ogoni leaders – Edward Kobani, Alfred Badey, Samuel Orage, and Theophilus Orage. It was a pretext for putting him out of circulation.

Abacha set up a quasi-judicial arrangement, an apparent wuru wuru to answer, which resolutely followed the script their master had written for them, thereby frustrating avenues and advocates of genuine judicial procedure, including moves by the late celebrated lawyer Gani Fawehinmi. Finally, after conviction in October 1995, Saro-Wiwa and his compatriots were murdered.

Saro-Wiwa, Saturday Dobee, Nordu Eawo, Daniel Gbooko, Paul Levera, Felix Nuate, Baribor Bera, Barinem Kiobel, and John Kpuine were hanged on November 10, 1995.

The hasty execution happened in a country where persons on death row are known to await execution for upwards of 10 years.

The only crime the Ogoni 9 committed was to demand environmental, economic, and social justice for the Ogoni and the Niger Delta.

Abacha himself died in 1998.

A lot of water has passed under the bridge, as they say.

But the lessons are not lost on the country.

The ruling class in Abacha’s time thought they could use strong-arm tactics to suppress a people, the Niger Delta, and the issues that bother them. They thought they could use intimidation to twist the question and

The late Ken Saro-Wiwa

insulate the rest of the country from the devastation in the Niger Delta. But they lied! They failed!

Abacha ran a dictatorial kleptocracy based on oil rent, and the fierce larceny of that regime still reverberates across the globe more than two decades after his death.

On the other hand, Saro-Wiwa’s activism has provided a great inspiration for ethnic nationalities and environmentalists in Nigeria and around the world to reimagine their futures, reflect on their oppression, and seek change.

Saro-Wiwa’s message is sinking in and garnering disciples even in the most conservative quarters.

Just recently, Niger State Governor Mohammed Bago commenced derivation claims of over N1 trillion from the federal government. Bago said the amount was from accumulated taxes for the country’s use of three hydroelectric dams located in the state.

The governor said the amount represented 13 per cent derivation payments due the state over the years from Kainji, Jebba and Shiroro dams on its soil.

A fourth dam at Zungeru, in Niger State, is under construction and this is sure to swell the demand.

Bago’s predecessor, Dr. Babangida Aliyu, had made similar requests for compensation, when he was governor, but later abandoned the cause.

Now, in a curious coincidence, just before November 10, at a time when humanity was readying to commemorate Saro-Wiwa’s death, Bago said his people had “woken up” and were ready to

ask for recompense for their serial displacement and devastation to host dams that serve the whole country. It was the same demand for which Saro-Wiwa and his eight comrades were killed.

The other day, too, it was Zamfara State, where then Governor Bello Matawalle announced in October 2020 that the state had established a “gold reserve” with gold that was, reportedly, mined and refined by artisanal miners in the state.

The Central Bank of Nigeria (CBN), reportedly, purchased gold from Zamfara State under the Presidential Artisanal Gold Mining Development Initiative (PAGMI), launched in 2019 by the then Muhammadu Buhari government. The controversy generated by this scheme resurrected questions around the ownership and distribution of proceeds of natural resources in the country.

Between Saro-Wiwa and the current tribe of resource advocates, the missing link seems to be that the latter may not be willing to commit the “class suicide” the former had elected to use to drive home his message. Will Bago and others genuinely pursue this change consciousness by willingly sacrificing the immediate material interests of their social class and the privileges they confer in order to identify with sincere resource rights advocates, especially, from SaroWiwa’s Niger Delta?

Africa’s foremost rights champion Amilcar Cabral believes such “class suicide” by the activist tribe of the petty-bourgeois leadership is key to the possibility of the kind of fundamental change in the system of resource ownership and distribution that many Nigerians now crave.

Since the days of Saro-Wiwa until now, the message has remained the same. More and more Nigerians are waking up to their environmental and economic rights.

The state, through successive governments, has engaged palliatives to try to placate those posing the fundamental resource questions rather than addressing their root causes.

Former President Olusegun Obasanjo set up the 13 per cent derivation fund for the oil producing states. Obasanjo also established institutions, like the Niger Delta Development Commission (NDDC) and Ministry of Niger Delta Affairs to oversee the development of the oil-rich region.

These establishments have done very little to address the economic and environmental issues in the Niger Delta owing to a combination of factors, including corruption, lack of funding, and lack of political will on the part of the federal authorities and their local and foreign collaborators.

Years after Obasanjo, Buhari launched an ambitious clean-up plan for Ogoni land.

But he hardly deployed the will, effort, and skill such a programme needed to succeed.

Buhari also toyed with the idea of pardon for the murdered Ogoni sons, saying his government would “consider the request for the grant of pardon to finally close the Ogoni saga”.

He said his government was “committed to ensuring clemency and national integration as part of this administration’s bid to lay the foundation for genuine reconciliation and bring closure to the issues of Ogoniland”.

Buhari did not elaborate on the source of the alleged “request” for pardon for Saro-Wiwa and his fellow Ogonis murdered by Abacha.

But the Ogoni have since rejected the pardon offer, and demanded, instead, the exoneration of the Ogoni 9. Saro-Wiwa’s brother, Dr. Owens Wiwa, in a statement on behalf of the Board of Directors of Ken Saro-Wiwa Foundation (KSWF), said, “Ken Saro-Wiwa and the other eight Ogonis were not criminals. They were innocent activists unjustly murdered for fighting for a just cause on behalf of their oppressed community.

“The path to true peace in the region begins with justice. The cleaning up of the environment for which they campaigned and died for is a first good step.”

Justice is still a great distance away in the Ogoni issue and, indeed, the Niger Delta question.

The palliatives regime since Obasanjo only gives the appearance that the resource problem is being addressed. It’s never meant to solve the problem.

The resource crisis in Nigeria must be addressed from the root causes.

The current system that vests all lands in which mineral resources are found or contained in the federal government, supposedly, in “trust” for the whole country, has become anachronistic, de-developmental, and, in fact, crisis-ridden.

The government of Buhari presented a new bill, Minerals and Mining Act (Repeal & Re-enactment) Bill, 2023, to the National Assembly, just before the end of that administration in May 2023. It is difficult to determine how well this bill fared in the federal legislature, or how interested the current National Assembly may be in resuscitating the amendment.

But no one in Nigeria – north, south, east, or west – seems to be in doubt that the time has come to change the system that makes people slaves – at best, tenants – in their own land. A genuine process of changing this outdated system should be the first step towards enthroning the justice that Saro-Wiwa and his compatriots fought for.

It is also the first step towards the new Nigeria that many now seek.

•Obia, a journalist, lives in Lagos.

25

T H I S D AY • Wednesday, November 29, 2023

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 er

S & P INDEX

2 8 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

MTN, Dangote Cement, Others Weather Challenges, Generates N13.94tn Revenue MTN leads with N1.77tn revenue Access Holdings tops banking sector with N1.59tn

Kayode Tokede A total of 24 leading companies quoted on the local bourse weathered macro economic challenges and generated a combined N13.94 trillion revenue in nine months eded September 30, 2023, representing an increase of 53.1 per cent from N9.1 trillion reported in nine months of 2022.

Analysis of the companies’ results showed that MTN Nigeria Communication Plc generated the highest revenue in the period under review, followed by Access Holdings Plc and Dangote Cement.

A breakdown showed that while MTN Nigeria reported N1.77 trillion revenue in nine months of 2023, representing an increase of 22 per cent from N1.46 trillion in nine months of 2022, Access Holdings Plc earned N1.59 trillion revenue in nine months of 2023, a growth of 75.7 per cent from N906.93 billion reported in nine months of 2022.

Nigerian and other African countries have endured the impact of interest rate hikes as the Central Banks around the world have continued to raise rates in a bid to manage inflation.

Macro economic challenges such as the inflation rate that moved to 26.72 per cent as of September 2023 from 20.77 per cent September 2022 and deprecation of Naira at the foreign exchange market to N768.76 /Dollar as at September 2023 from N432.37/Dollar September 2022 negatively affected these companies’ performance in the period under review.

However, the Central Bank of Nigeria (CBN) foreign exchange policy impacted positively on banking sector profit before tax, while those in the manufacturing sector, Fast-Moving Consumer

Goods (FCMG), among others suffered heavy losses in the nine months under review.

Meanwhile, THISDAY findings from the unaudited financial reports submitted to the NGX showed that the 24 companies declared N3.05 trillion profit before tax, an increase of 54per cent from N1.99 trillion reported in nine months of 2022.

In terms of profit, Zenith Bank outshined other companies, posted N505.0 4billion profit before tax in nine months of 2023 from N202.55billion in nine months of 2022, followed by United Bank for Africa Plc (UBA) that announced

N502.09billion profit in nine months of 2023 from N262.54billion in nine months of 2022.

Meanwhile, though the banking sector topped the performance chart contributing the highest value of both revenue and profit before tax, the sector recorded impressive financial performance for the nine months of 2023 influenced by the growth in non-interest income.

According to THISDAY investigation, the financial results of eight leading banks showed that the combined revenue increased to N6.96 trillion in nine months of 2023, a growth

of 93 per cent from N3.61trillion in nine months of 2022.

Out of the N13.94 trillion revenue, the eight banks contributed about 49.9per cent.

The other eight banks including Guaranty Trust Holdings Plc, FBN Holdings Plc, FCMB Group Plc, Fidelity Bank Plc, Sterling Holdings declared N2.2trillion profit before tax in nine months of 2023, representing 159.99 per cent increase from N841.97billion reported in nine months of 2022.

The story continues online on www.thisdaylive.com

‘35m Nigerians May Face Extreme Poverty in 2025 Except FG Tackles Inflation, Trade Barrier’ Gilbert Ekugbe The Director, Nanyang Technological Univeristy (NTU) and the Singapore Business Federation (SBF) Center for African Studies, Nanyang Business School, Mr. Amit Jain, has warned that over 35 million Nigerians are likely to fall into the poverty bracket except the federal government urgently checkmates high inflation rate, remove trade barriers and provide critical infrastructure for economic growth and development.

Jain stated this at the public presentation of a 10-year roadmap

for Nigeria by NTU-SBF centre for African studies in partnership with Tolaram and NTU, Singapore in Lagos.

According to him, since 2015, poverty has been on the high side as more Nigerians are slipping into poverty than climbing out of it, advising that unless something is done urgently, Nigeria might not be able to address the problem of extreme poverty for 35 million people by 2025.

“We have looked at some of the causes of this extreme poverty endemic in Nigeria which include inflation, population growth and

climate change essentially explains why it remains so endemic. One of the best ways to address extreme poverty is to curb inflation, reduce trade barriers for many people to get job opportunities, educate the populace and improve their health to become a lot more productive,” he said.

He added, “The most effective way to fight poverty in the short term is to tackle inflation and the most effective way to tackle inflation is to drop the value of the naira and this can only be done if monetary policy is tightened.”

He however, stated that the

roadmap aims to put Nigeria back on the path of sustainable growth and adhering to its recommendations would put the country’s economy among the top 20 economies of the world by 2030.

He stated that while the recommendations were achievable should there be the political will to make changes, he stressed that interlinked factors limiting economic growth and development must be addressed.

“Irrespective of business terrain, you cannot afford to overlook Nigeria as what happens here affects everyone. Given the country’s

strength of population, fertile soil, enough water, sunshine, large coastline, vibrant democracy and a vibrant youthful population, some weaknesses such as debt, limited fiscal space, poverty, infrastructure challenges exist,” he said.

“However, while there are the threats of insecurity, corruption, unemployment, inequality and climate change, massive opportunities exist in agriculture, technology, services and Nigeria’s massive consumer demand,” he said.

Nigeria, he pointed out, needs to take proactive steps to put the

country on the path of growth and reduce its inflation rate.

Jain said Nigeria must revamp crude oil production very quickly to create the fiscal room that Nigeria needs.

He stated that the country in the next two years must focus on economic stabilisation, structural reforms to revive growth; prioritise investment in health, education and social protection and avert negative Gross Domestic Product (GDP) growth to arrest poverty.

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T u e s d ay, N o v e m b e r 2 8 , 2 0 2 3 BONDS Description Price Yield Change Updated Time (%) ^13.53 23October 100.95 12.77 0,00 31, 2023 MAR-2025 October ^12.50 220,00 31, 98.78 13.11 2023 JAN-2026 ^16.2884 17October 108.14 13.24 0,00 MAR-2027 31, 2023 ^13.98 23October 99.32 14.18 0,00 FEB-2028 31, 2023 ^14.55 26October 98.82 14.87 0,00 31, APR-2029 2023

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 26-Oct23 NTB 9-Nov23 NTB 7-Dec23 NTB 25-Jan24 NTB 8-Feb24

1.80

1.80

October 0.00 31, 2023

2.57

2.57

October 0.00 31, 2023

3.92

3.94

October 0.00 31, 2023

3.75

3.79

October 0.00 31, 2023

4.45

October 0.00 31, 2023

JULI CP II 25-OCT-23 ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

4.39

OTC F X F U T U R E S

CPs Discount Yield 16.82

16.88

14.68

14.86

19.23

19.60

11.26

11.39

19.22

19.60

Change (%)

Updated Time

October 105,00 31, 2023 October 79,00 31, 2023 October 74,00 31, 2023 October 72,00 31, 2023 October 72,00 31, 2023

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS OCT 1 – 30 2024 NGUS NOV 2 – 27 2024 NGUS DEC 3 – 24 2024 NGUS JAN 4 – 29 2025 NGUS FEB 5 – 26 2025

Updated Time

October 31, 2023 October 31, 2023 October 31, 2023 October 31, 2023 October 31, 2023

26

Wednesday, November 29, 2023 • T H I S D AY

BUSINESSWORLD

Interview

Renewed Effort to Curb Inflation During the annual dinner of the Chartered Institute of Bankers of Nigeria, Governor of the Central Bnk, Olayemi Cardoso, unveiled a crucial policy agenda focused on curbing inflation. Nume Ekeghe highlights the pivotal takeaways

I

nflation figures have in recent years steadily risen, soaring to 27.33 per cent as at October this year, according to the latest data by the National Bureau of Statistics (NBS). Whilst the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has consistently hiked benchmark interest rate to curb the spiraling inflation, it has steadily headed north.

However, the apex bank under the leadership of its new governor, Dr Olayemi Cardoso has declared that it has begun a fresh approach to tackling the spiraling inflation in the country.

He had communicated this at the 2023 Annual Bankers Dinner that was held in Lagos at the weekend.

Noting that global inflation is forecasted to steadily decline from 8.7 per cent in 2022 to 6.9 per cent in 2023 and 5.8 per cent in 2024, due to tighter monetary policy measures and lower international commodity prices, Cardoso said, “It is crucial to note that monetary policy actions and frameworks play a vital role in anchoring inflation expectations during these challenging times.

“Globally, core inflation is expected to decline more gradually, and inflation is not anticipated to return to target levels until 2025 in most cases. In response to these challenges, countries worldwide have adopted various conventional monetary policy measures.

Available data indicates a gradual recovery in output in the US, UK, and some emerging market economies.”

He added, “Gross Domestic Product (GDP) growth in the United States of America, the United Kingdom, and emerging market economies reached 2.2 per cent, 1.4 per cent, and 3.4 per cent, respectively, in the second quarter of 2023, compared to the same period in 2022. In Africa, countries such as South Africa, Ghana, Egypt, and Kenya saw growth rates of 0.6 per cent, 3.2 per cent, 3.9 per cent, and 5.4 percent, respectively, in the second quarter of 2023, thanks to complementary fiscal and monetary policy measures.

“The widespread tightening of monetary policy, aimed at curbing inflation, has restrained economic activity and suppressed growth.

According to the IMF, global growth is projected to slow from 3.5 per cent in 2022 to 3.0 per cent in 2023 and 2.9 per cent in 2024, well below the historical average of 3.8 percent (2000-2019). Advanced economies are expected to experience a slowdown from 2.6 per cent in 2022 to 1.5 per cent in 2023 and 1.4 per cent in 2024 as the impact of policy tightening takes hold. Meanwhile, emerging markets and developing economies are projected to have a modest decline in growth from 4.1 per cent in 2022 to 4.0 per cent in both 2023 and 2024.”

Domestic Inflation Impact

Back home, Cardoso pointed out that the domestic factors affecting Nigeria’s economic performance span a wide range, encompassing both social and economic aspects. “Insecurity remains a pressing issue, affecting the agricultural, industrial, and services sectors simultaneously. The persistently high levels of insecurity have resulted in decreased national output and productivity, as many farmers have been unable to access their farmlands, disrupting supply chains and major economic activities. This has led to food shortages and inflation in various parts of the country.

“A thorough assessment of the economy reveals significant challenges, including high and rising inflation, inadequate foreign exchange supply, depreciation of the exchange rate, limited external reserves, weakened output, and high unemployment. These challenges have led to increased interest rates, discouraging

“A thorough assessment of the economy reveals significant challenges, including high and rising inflation, inadequate foreign exchange supply, depreciation of the exchange rate, limited external reserves, weakened output, and high unemployment.

These challenges have led to increased interest rates, discouraging investments in productive activities.”

Cardoso investments in productive activities.

“I recently met with a group of small business owners who expressed their concerns about the impact of inflation on their operations. They shared stories of struggling to maintain affordable prices for their customers while facing rising costs for raw materials and supplies, “he said.

He further stated, “The instability caused by inflation not only affects their profit margins but also hampers their ability to plan for the future. These entrepreneurs stressed the need for price stability to create a conducive business environment that allows them to thrive and contribute to the economy.

“In recent discussions with individuals from different walks of life, I encountered a young family trying to make ends meet in the face of rising prices. They shared their worries about the erosion of their purchasing power and the challenges of meeting basic needs within a tight budget. They emphasized the importance of stable prices to protect the well-being of ordinary citizens and ensure a fair distribution of resources. It is crucial that we prioritize price stability to safeguard the livelihoods of our fellow Nigerians.”

Thus, he stressed the need for the apex bank to adopt a new strategy towards subduing a rising inflation in the country.

According to the CBN governor, the apex bank will be wielding orthodox

“I am happy to report that our efforts over the past two months have begun to yield fruit. Regular Open Market Operations (OMO) to mop up excess liquidity from the banking system. An OMO auction was recently held with a stop rate of 17.5% for the one-year tenor, attracting oversubscription of N350 billion. Another round of OMO has been approved to further reduce excess liquidity.”

monetary policies in targeting inflation.

Stressing that monetary and price stability will be its focus, Cardoso said, “This is not just a technical objective, but it has real-life implications for the wellbeing of our citizens. Through targeted policies, transparent market operations, and coordination between monetary and fiscal authorities, we can ensure a more stable exchange rate, control inflation, and create an enabling environment for businesses and individuals to thrive.

Towards Curbing Inflation

Cardoso proposed strategies that involve employing orthodox monetary policies, emphasizing monetary and price stability through measures like Open Market Operations (OMO), Treasury Bills offerings, and adjustments in facilities such as the Standing Deposit Facility (SDF) and Cash Reserve Requirement (CRR) debits.

In addressing domestic challenges, the governor highlighted the impact of insecurity on Nigeria’s economy.

He pointed out how insecurity disrupted supply chains, particularly in agriculture, leading to food shortages and subsequent inflation.

He noted that engagement with stakeholders played a key role in identifying the adverse effects of inflation on businesses and individuals as his interactions with small business owners and citizens highlighted the importance of stable prices in supporting businesses and protecting purchasing power.

The governor stressed the need for collaborative efforts between monetary and fiscal authorities, aiming to stabilize the exchange rate, control inflation, and foster an enabling environment for economic growth.

“Continuous assessment and enhancement of the effectiveness of monetary policy tools were emphasized.

Efforts were directed at fixing monetary transmission mechanisms to ensure

decisions made during Monetary Policy Committee (MPC) meetings translate effectively into desired outcomes.

“Additionally, the establishment of a new liquidity management committee within the Bank signals a commitment to monitor liquidity conditions daily. This proactive approach aims to maintain optimal liquidity levels and respond promptly to changing economic dynamics, “he stated.

The CBN boss added, “These strategies encompass tightening monetary policies, addressing domestic challenges, stakeholder engagement, policy coordination, continuous assessment, and responsive monitoring.

Governor Cardoso’s proposals aim to effectively manage and ultimately curb inflation in Nigeria.

“We have critically reviewed the effectiveness of the Central Bank’s monetary policy tools and have spent time fixing the transmission mechanism to ensure the decisions of MPC meetings actually result in desired objectives. For quite some time, there has been a dislocation of our monetary transmission mechanisms rendering the MPC meetings largely ineffective.

“I am happy to report that our efforts over the past two months have begun to yield fruit. Regular Open Market Operations (OMO) to mop up excess liquidity from the banking system. An OMO auction was recently held with a stop rate of 17.5% for the one-year tenor, attracting oversubscription of N350 billion. Another round of OMO has been approved to further reduce excess liquidity.”

“Offering N108.1 billion worth of Treasury Bills with three tenors to the investing public, which can help reduce liquidity in the banking system and support government fundraising.

Removal of the cap on the remunerable Standing Deposit Facility (SDF) to increase activity in the SDF window and manage liquidity.

“Sustained Cash Reserve Requirement (CRR) debits, which have moderated liquidity in September and October 2023. Liquidity in the entire banking sector has been significantly reduced to under N100 billion in November.

Inauguration of a new liquidity management committee within the Bank that meets daily at 8am to assess liquidity conditions and ensure optimal levels.

“These measures have already started to yield results, as excess liquidity in the banking system has significantly reduced and the Overnight Bank Borrowing (OBB) rate has increased to a level consistent with the monetary policy program. Month-on-month inflation has also begun to decline, with a growth rate of 0.67 per cent in October compared to 0.97 per cent previously.

“While absolute inflation is still rising, the declining rate of growth indicates progress. The CBN is confident that with continued tightening measures for the next two quarters, we will be able to effectively manage inflation. ”he said.

27

T H I S D AY • Wednesday, November 29, 2023

BUSINESSWORLD

Interview

Macaulay: What it Takes to Succeed in Tech Sales In this interview with Sunday Ehigiator, Co-founder of Tech Sales and Partnership Community, Titilope Macaulay digs into the importance of community for tech salespersons and what it takes to succeed in the profession. Excerpts How does the Tech Sales and Partnership Community support the professional growth of tech salespeople in Nigeria? nowing how lonely the journey was for me when I ventured into tech sales, the plan was to have a safe space where other tech sales professionals and even enthusiasts could meet people like them, share their daily experiences, share their wins and frustrations so they know these struggles are not peculiar to them. They can also learn about how others are navigating their struggles. The community is hosted on Slack and we have various channels for different communication. People ask questions about tools, companies they want to pitch to and different things.

Not only do we encourage peer-to-peer learning, but we also have various monthly learning programs one of which is our info session where we bring in leaders in the industry such as Leila Omo-Ikirodah, the Country Manager at Lipalater Nigeria, Adetola Oloke, the Head of Sales and Partnerships at Korapay, Benjamin Dada, Head of Partnerships at Pastel and so on.

We also have our mentoring sessions where we’ve had experienced tech sales professionals such as Charles Idem of Paystack, Nicholson Aleke of Interswitch, Juliana Mwangi of Safriex and so on teach topics that affect mid-level and senior-level sales professionals.

Every last Thursday of the month, we have sessions where everyone shares their wins and challenges in that month and we share advice in areas people need them We also have partnerships with a sales academy,

“Be ready to work hard. Sales aren’t always about ‘special techniques and mindblowing strategies’. A lot of times, the secret is to do the boring things consistently.”

K

better work tools, their productivity at work, exposure to the information about the market they are selling to and even information about better work opportunities with better pay and benefits.

Macaulay

Revwit and an international recruiting startup, TalentPoel to help our members who are looking for opportunities to upskill and also land better or even

international jobs. And we are working on more partnership opportunities to help our community members grow.

In your opinion, why is it important to create a dedicated community for tech sales professionals, and what advantages does it bring to both individuals and the industry as a whole?

Communities play a great role in helping people access better opportunities and even enhancing the growth of an industry. I have never seen a thriving career path that doesn’t have clusters and communities where people of like minds and people with similar career goals come together to help one another. I am one weird extrovert who barely steps out of my house without a strong motivation but once I’m out, it’s all fun. Virtual communities have played an amazing role in my career growth. I’ve made life-changing friendships, and I have had access to information that I probably wouldn’t have had if I had been isolated from that community. I have had major career wins because of the access to a member of a community. These benefits are endless.

What are some of the challenges that tech sales professionals face in Nigeria, and how can a community like yours help overcome them?

A lot of tech sales professionals are isolated and so access to information is a luxury enjoyed by very few people which is one of the reasons we started TSPC. This one challenge affects so many areas of people’s careers; lack of access or knowledge about

How do you stay updated with the latest trends and developments in the tech sales industry, and how do you encourage continuous learning among community members?

Reading relevant sales books, and blogs, and listening to educational podcasts one of which is, ‘Hunters and Unicorns’. I also spend time connecting with other professionals in the industry. This has been very helpful. I have a habit of setting up catchup calls with people I meet in the course of my work just to listen to them and also share things with them. You can’t imagine how much you can learn by listening to others talk. Just one sentence can change a lot of things. It also shows how much I don’t know. It’s a humbling and educating exercise I like to do when I find willing partners.

In the community, we have started to recommend books to read every quarter and we review them together. We share links and learning resources in the community; links to blogs, podcasts and even recordings from our community monthly educational events.

What advice would you give to aspiring tech sales professionals in Nigeria who are looking to enter or excel in this field?

Be ready to work hard. Sales aren’t always about ‘special techniques and mind-blowing strategies’. A lot of times, the secret is to do the boring things consistently. Prospecting is boring, lead generation is boring, and lead qualification is boring but they form the foundation for your big, shiny wins.

If you don’t bend your back and daily do these things that no one sees or applauds you for, you won’t get consistent big wins that everyone will applaud you for.

Also, invest time in learning about the work your target audience does especially for professionals like me who are in the B2B space and in your product knowledge too. For example, you can’t sell a cloud computing product if you don’t understand a thing about it. The people you are speaking to need to know that you are in the best position to recommend a service or product to them. You can’t hold sales conversations with the CTO of a company you want to sell to if you don’t know what you’re talking about.

Lastly, sales is 80 per cent listening and 20 per cent talking which is contrary to what everyone on the outside thinks sales is all about. It’s not about the shiny presentations or smooth talks and all.

You need to be able to listen to not just the words that are being spoken but most especially the unspoken words. You need to be able to read body language, even expressions that are not very obvious even over virtual meetings. You should be a student of psychology because you need to understand the humans you’re dealing with.

It’s not an easy career but it’s worth it if you’re great at it.

28

T H I S D AY • WEDNESday NOVEMBER 29, 2023

Property & environment Implementation of Physical Planning Law Will Address Lagos’ Parking Challenge Bennett Oghifo Parking spaces in Lagos are shrinking by the day with new buildings, both commercial and residential springing up and with their promoters not paying attention to planning laws that specify the setting aside of an area for parking of residents’ vehicles.

The land mass of Lagos is small and individual plots are expensive and so it is understandable that buyers always seek to maximise their use by building wall to wall, unmindful of the fact that this runs contrary to the law.

Every driver’s concern when setting out of their homes is where to park at their destination and where to park when they return home late in the evening.

Some residents have one or two parking spaces in their homes but a third vehicle or a visitor’s

vehicle must park on the street.

Even malls with large parking spaces are beginning to struggle.

Most streets are lined with cars, creating movement problems for everyone, including pedestrians who are not able to use the walkways because petty traders have annexed these spaces to spread their wares.

It can be frustrating.

Also, new estates are springing up across the state without addressing the same issue of parking, while developers are pulling down old houses daily at key locations in the state. In most Business Districts, skyscrapers are coming up without adequate or without car parks.

If the traffic situation in the state is to improve, the issue of illegal parking must be fully addressed. A recent study conducted by the Lagos State Metropolitan Area Transport Authority, LAMATA, has

shown that a major cause of traffic gridlocks in the metropolis is street parking.

The study further revealed that no fewer than 10 vehicles vied for parking spaces every 10 seconds at every street in the state. This has often left most streets clogged with motor vehicles, with many being parked at the roadside, or on the walkways.

The Lagos State Governor Babajide Sanwo-Olu resolved to address this problem with the establishment of the Lagos State Parking Authority (LASPA) by an Act of the Lagos House of Assembly in 2019, with a major goal of promoting parking policies in the state in line with international standards practice.

According to those familiar with the parks’ development, the idea came up during the administration of Bola Ahmed Tinubu and finally brought to

life by the visionary and focused Governor Babajide Sanwo-Olu. LASPA has been making concrete efforts to tackle the menace of haphazard parking

in the state.

As the regulatory authourity on all forms of parking, the agency is laying the foundation for a system that would demand

a change in the residents’ parking culture in line with the Sanwo-Olu-administration’s agenda of attaining a ‘Greater Lagos’.

L-R: Guest Speaker, Prof Sadiq Zubair Abubakar; National Chairman Nigerian Institute of Agriculture Engineers, Prof Folarin Alonge; Lagos Deputy Governor, Dr Kadri Obafemi Hamzat; and President Nigerian Society of Engineers Engr Tasiu Sa,ad Gidari-Wudil, during the conferment of Honourary Fellowship Award of the Nigerian Institution of Agricultural Engineers on the Deputy Governor in Abuja… recently

IFMA Nigeria Chapter Calls for Stakeholders’ Collaboration in Built Environment Fadekemi Ajakaiye Worried about the high spate of issues bedevilling the built environment in Nigeria and the need for standardisation of industry practice, the International Facility Managers Association (IFMA), Nigeria Chapter, has called for collaboration amongst stakeholders in the Construction Industry to create a better living environment for Nigerians.

The President of IFMA

Nigeria, ESV Olalekan Akinwumi, made the call at the fourth Facility Management Advocacy Day which was held in Lagos themed: “Sustaining the Multi-Disciplinary Role of Facility Management: Harnessing the Prospect of Synergy in the Built Environment.”

Akinwumi explained that IFMA organises the Advocacy Day discourse every year to bring together professionals in the built environment to bridge

the existing knowledge gap in the sector for a more sustainable industry compliant with best practices worldwide.

He stated that IFMA, being an umbrella body for industry practitioners, is also fostering professional synergy, which will, in the long run, result in sustainable environments, better life expectancy, and progress for all and sundry.

Akinwumi said, “There are many gaps within the profession-

als in the Built environment, and Facility Management is like the umbrella of all the professionals in this space. This edition is a clarion call for every professional to work together seamlessly in the built environment. Its ripple effect would save our souls, resources and ensure that we live in a safe environment.”

In his keynote address, the Special Guest of Honour and former Minister for Works, HE Babatunde Raji Fashola, SAN,

spoke on the political will to enforce deliberations on the Government’s part and the stakeholders’ willingness to follow through with the recommendations reached.

Mr Babatunde Raji Fashola, SAN, represented by Engr Femi Akinyelure, urged stakeholders present to go the extra mile in educating the private sector to get on board the project, which, if sustained, would save the Nigerian economy

astronomically.

“The political will is crucial, and in this case, the Government is leading the pack and has also created an enabling environment for this sector to thrive. It is therefore pertinent to continue to encourage the private sector with the understanding that most of the assets in the built environment are owned by the private sector to key into this rapidly expanding sector of the economy.”

Addressing Nigeria’s 21st Century Housing Needs Olamide Abegunde Amidst the myriad of problems facing Nigeria, housing stands out. According to the Central Bank of Nigeria in 2019, only 10% of Nigerians who desire to own a home can afford it, compared to 72% in the United States and 78% in the United Kingdom. This estimate is inadequate for the size of our economy, indicating that only two hundred thousand people can afford a house out of a population of over two hundred million and still rising.

This issue is exacerbated because, even with this revelation, governments have not

deemed it expedient to declare an emergency in the housing sector of the country’s economy. The post-civil war housing challenges persist, with no concerted efforts made to address the debilitating homelessness experienced by many Nigerians at the Federal, State, and Local government levels.

However, it is pertinent to state that the Federal government and state governments have, from time to time, embarked on the provision of low-cost housing. Still, it is obviously never sufficient, as what they do is merely a tip of the iceberg.

Speaking statistically, with a

population of over 200 million, Nigeria is the largest black country in the world. According to Rice University Research, Nigerians rank as the highest educated immigrant population in the United States. The country has a huge youth population, unemployed, unemployable, illiterate, and uninformed, especially in the North, which has become a catchment area and recruitment ground for terrorism and banditry laced with religious extremism. Consequently, the housing problem in Nigeria is undoubtedly a pandemic of immense proportion. According to the International Human Rights

Commission (IHRC), more than 28 million Nigerians lack access to decent and affordable housing.

The Federal Mortgage Bank of Nigeria (FMBN) estimates that Nigeria will require about 28 million housing units to address the housing deficit in the country.

Housing Deficit in Nigeria Attempts in the past, largely by the federal government and in some instances state governments, to address the housing deficit in Nigeria can be compared to a proverbial drop in an ocean. Instead of reducing, the housing gap keeps increasing, evidenced by astronomical rents,

especially in urban areas.

Unfortunately, even the issue of high rent is not being addressed by the government, apparently because it lacks the moral rectitude to do so. The provision of affordable housing has been an insurmountable problem for the government itself, and its failure to provide enabling environments for public sector participation in the housing sector exacerbates the situation.

Nigeria’s post-civil war housing deficit and the unavailability of affordable housing have increased tremendously. Recent data shows that in 1991, this

grew from 7 million housing units to 12 million in 2007, and progressively shot up from 14 million in 2010 to a whopping 28 million housing units in 2022.

The reasons include rural-urban migration, population explosion, multidimensional poverty, galloping inflation, lack of a mortgage system, unemployment, high construction costs due to inflation, and lack of political will by the government, among others.

The question from stakeholders, especially professionals in the construction industry, is, “how will access to decent housing be made available to the average Nigerian household?”

Lana: Accessible Housing in Nigeria Requires Nigerian Forest Cover Drops to 3%, Says Modern Construction Technologies Asiodu, Calls for Restoration Fadekemi Ajakaiye A unique housing solution has been created by an indigenous design and construction management company in Nigeria.

The Project Director of Petolah Nigeria Limited, Mr. Deolu Lana said his organisation has come up with Matrix 5 System Residential Solution, a mid-density residential solution that accommodates 5 numbers of 3 bedrooms cross ventilated terraces with two living rooms maids’ rooms and two car parks per unit on a rectangular plot of 648 square meters i.e. 18x36 meters.

According to Lana, the dynamics of an increasing

global population coupled with the relatively fixed resources, be it land, building materials and energy required to build homes will ultimately lead to an upward spiral in demand and consequent exorbitant pricing for these basic resources. However, with the Matric 5 System Resident Solution that will soon be a thing of the past Lana noted that the Matrix 5 System Residential Solution also features passive natural cooling systems that address the challenges of housing head-on with its innovative design, materials, energy and construction technologies that put into consideration the Nigerian climatic, socio-

cultural and economic context sustainably. This design, as he puts it, is a novelty of ventilating the originally cold climate western terrace design which is blindly copied in Africa without adjusting to the hot tropical climate and communal African society.

He said this would be a proven technology to address Nigeria’s huge housing deficit, adding that his was the first design and build firm to offer 5 three bedrooms nonlinear homes on a 648 square meters plot to international standards that is both ventilated vertically and horizontally, i.e. tropicalised terraces, and first to build passive cooling house in Lagos in 2009.

Goodness Nkechi Sunday The President, Board of Trustees of the Nigerian Conservation Foundation (NCF), Chief Izoma Philip Asiodu has said that Nigeria’s forest cover has drooped to 3% from 35% at independece.

The NCF’s BOT President stated this at the Foundation’s Green Ball event in Lagos.

The Green Ball themed, “Partnership for Conservation and Restoration of Mangroves”, aimed to raise awareness and support for environmental conservation efforts across the nation.

He said, “The whole vision of the Nigerian Conservation Foundation (NCF) is that

man should be able to live in harmony with sustainable nature.

“At independence, we had more than 35% forest cover.

Right now, it is 3% and we do not want to turn Nigeria into a desert.

“So we must do everything to restore the Mangroves in the Delta. We must do everything to restore the Delta. We must do everything to stop the pollution through irresponsible, uncaring exploitation. We can exploit the oil resources but at the same time, prevent pollution. “When you look at the world maps, Lagos is now one of the most polluted cities in the world.

It should not be so. It is not good for you and me. So it

is a great charge and a great responsibility.”

Asiodu expressed his concern for the restoration of the Mangrove ecosystem.

On the establishment of the Lekki Conservation Center (LCC), he said they called for the help of the Lagos State Government, “we acquired the land of the Lekki Conservation Center, luckily when land was not too expensive but the Lagos State Government under about 10, 15, 20 years ago, they helped us when we were building the Lekki Conservation Center and they helped to build the family park, the aerial road work, the jungle gym center, so families can go there and would not know they are in Lagos.

T H I S D AY • WEDNESday NOVEMBER 29, 2023

images

29

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Managing Director/Chief Executive Officer, Healthcare Plc, Dr. Fidelis Ayebae, and Chairman, Aidea Pharmaceutical Co. Limited, Dr. Heliang Fu, after officially signing a strategic cooperation agreement between Fidson and Aidea Pharmaceutical Co. Limited to ‘further add value to the healthcare landscape in Nigeria and Africa’, held in Yangzhou, China…recently

L-R: Fertility Specialist, Dr. Tambari Femi-Oluwole; Embryologist, Chelsea Odoya; Fertility doctor, Doris Ali; Fertility nurse, Ejiro Orhewere; Client Experienced Specialist, Aghogho Arigo; and Business Development Manager, Oge Brodrick, during Port Harcourt Bridge Clinic Fertility Awareness Walk, held in Port Harcourt, Rivers State... recently

R-L: Director-General, National Youth Service Corps (NYSC), Brigadier-General Yushau Dogara Ahmed; Director, Corps Mobilisation, Hajiya Walida Siddique Isa; Director, Planning, Research and Statistics, NYSC, Alhaji Ahmed Wada Ikaka; and Director, Skill Acquisition and Entrepreneurship Development, NYSC, Mrs. Ngozi Nwatarali, during the meeting of NYSC management with the representatives of Corps Producing Institutions in Africa, held in Abuja…recently

L-R: Director, Enterprise Development and Promotion, Small and Medium Enterprises Development Agency (SMEDAN), Monday Ewans; Executive Director and Chief Financial Officer, Providus Bank, Deoye Ojuroye; and Director, Enterprise Development Centre (EDC), Nneka Okekearu, during the Enterprise Development Centre (EDC) Creative Economy Summit held in Lagos…recently

L-R: Director, Sanitation Services Department, Ministry of Environment, Lagos State, Dr. Hassan Sanuth; Category Head, Hygiene/Home Category, West Africa, Reckitt, Chioma Sylva-Ifedigbo; Special Adviser to Lagos State Government on Environment, Mr. Olamidosu Rotimi-Akodu; Brand Ambassador, Harpic, Helen Paul; Permanent Secretary, Office of Environmental Services, Lagos State, Dr. Gaji Omobolaji Tajudeen; and Director, Administration and Human Resource, Office of Drainage Services, Lagos State, Mr. Adeyinka Benjamin, during the commemoration of World Toilet Day, held in Lagos...recently

L-R: Chairman, Organising Committee, DFC 2023 Conference, Dr. Biodun Ogungbo; President, Healthcare Federation of Nigeria, Dr. Pamela Ajayi; medical professional, Prof, Akin Abayomi; Consultant Orthopedic Surgeon, Duchess International Hospital, Tina Anetor; and Consultant Orthopedic Surgeon/CMD NIKEA Hospital, Dr. Ike Nwachukwu, during the ‘Doctor For Change Conference 2023’ in Lagos…recently

30

T H I S D AY • WEDNESday NOVEMBER 29, 2023

Education Nwachukwu: Impacting Society through Networking, Mentorship

Chuka Peter Nwachukwu is the President of the Madonna University Alumni Association. He is the head of Balance Sheet Management at the United Bank for Africa (UBA). He holds a BSc. in Public Administration from Madonna University and a master’s in Finance and Administration from ESUT Business School. Passionate about community-based projects aimed at education, healthcare, and socio-economic empowerment, Nwachukwu has masterfully led the alumni association to become a leading force among private university alumni associations in Nigeria and a well-respected alum association among Nigerian universities.

His vision is to foster a vibrant, connected alumni community dedicated to mutual support, professional growth, and philanthropy. He is committed to upholding the values and legacy of the university while championing initiatives that empower the alumni and contribute to society’s betterment. In this interview with Mary Nnah, he reveals that he envisions a culture of networking, mentorship, and lifelong learning that extends beyond Madonna University, positively impacting society

W

hat key initiatives and changes do you hope to bring about by the end of your tenure as president?

As the president of the Madonna University Alumni Association, my primary goal is to foster a stronger, more engaged, and supportive alumni network that benefits both our graduates and the university itself. I aim to increase alumni engagement by organising a diverse range of events and activities to bring alumni together. These events will not only facilitate networking but also provide opportunities for continuous learning and personal growth. It is important to me that there is a significant increase in the number of regional and affinity-based alumni chapters to strengthen connections among alumni who share geographic locations or common interests to ensure inclusion at all levels. My team will also strive to ensure improved collaboration between alumni and current students through mentorship, internship opportunities, and career panels to bridge the gap between academia and the professional world.

Ensuring that our alumni community is inclusive and welcoming to all, regardless of background, ensuring that every graduate feels valued and connected. By the end of my tenure, I hope to see a thriving alumni community that actively contributes to the success and growth of our university and the country. Together, we will make a positive impact on our alma mater, our fellow alumni, and the broader community.

Reflecting on your time as alumni president, what accomplishments are you most proud of?

I would like to acknowledge the good work done by my predecessors in ensuring that the alumni have remained a point of pride for all graduates of Madonna University. When I assumed office, the first thing I did in collaboration with my team was to establish a proper structure within all alumni chapters nationwide. We received a lot of pushback at the time but today, I am

the school and alumni executives were somewhat fractured. Today, there is a very cordial relationship, and the benefits have included quicker processing of transcripts and certificates and the school’s listening ear to the concerns of the alumni association.

Nwachukwu proud to say that all the chapters are thriving under purposeful leadership and there is healthy competition among the chapters and their members. In the past, we used to reach out to people to join us, but today, people reach out to be part of what we are doing because of the value we have created. We also pioneered a leadership series and one of those series featured renowned leadership coach Niyi Adesanya, who imparted valuable knowledge to alumni members on navigating through life with the right mindset to excel.

The most important thing I must point out in a long list of what we have achieved is improving the relationship between the school and the alumni. Upon assumption of office, relations between

Building a strong network is often a goal of alumni associations. How have you worked to strengthen connections between alumni, both professionally and personally, to promote collaboration and mutual support?

Strengthening our alumni network has been a top priority. We recognise the immense value of a connected and engaged alumni community. In this regard, there have been conscious efforts to sensitise the chapter chairmen on the importance of creating an enabling environment for members to want to join the alumni and bring value to the table. This ensures that there is a synergy among all chapters regarding collaboration and mutual support at all times. If there is an alumni chapter in any state, members are free to reach out, and they will receive full cooperation and assistance as long as they can identify that they are members of the alumni.

Embracing diversity and inclusivity is important in today’s world. How have you championed these values within the alumni community, and what outcomes have you seen as a result?

My team has placed a strong emphasis on embracing diversity and inclusivity within our alumni community. Our commitment to these values is not only reflective of the university’s principles but also vital in today’s world. We have diversified our alumni events to ensure they cater to a wide range of interests and backgrounds.

This includes cultural celebrations, networking sessions, career development workshops, and social gatherings. As a result, we’ve seen increased participation and engagement among alumni from various walks of life. Equally, alumni

from diverse backgrounds have been actively encouraged to take on leadership roles within our association. This has led to a more representative and inclusive leadership team, which in turn has resulted in more inclusive decision-making and initiatives. The outcomes of these efforts have been incredibly positive. We’ve witnessed a more engaged and united alumni community that values diversity, respects different perspectives, and actively supports one another. Alumni from various backgrounds now feel more included and valued, leading to a stronger and more vibrant alumni association. We will continue to champion these values to ensure that our association remains open, welcoming, and supportive for all alumni.

Nurturing a sense of loyalty among alumni can be a challenge. How have you encouraged recent graduates to maintain their connection with the institution, and how have you kept long-standing alumni engaged over the years?

We reach out to recent graduates and provide information about the benefits of the alumni and the opportunities available to them. There are also active social media groups that provide a platform for recent graduates to stay updated on news, share their achievements, and connect with fellow alumni. As stated earlier, we have established alumni chapters to keep long-standing alumni engaged locally. These chapters organise their events and activities, allowing alumni to stay connected no matter where they are.

Madonna University Alumni Association encourages the formation of special interest groups, such as those focused on community service, professional development, or cultural exchange. These groups provide opportunities for alumni with shared interests to collaborate and stay engaged.

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

UI, Academy Partner on Online Professional Courses, Certifications Kemi Olaitan in Ibadan The Director of Distance Learning Centre, University of Ibadan (UI), Prof. Babatunde Omobowale and the Chief Executive Officer (CEO), Edurex Technologies, Adedotun Fasiku, have stressed the need for a strong Public Private Partnership (PPP) that would revolutionise access to quality education in the country.

While speaking on the partnership between both institutions, they announced plans by UI and Edurex to offer a diverse range of online courses and certifications which would create unparalleled online learning experience, leveraging on cutting-edge technology and expertise of both

institutions.

According to Fasiku, the collaboration would give learners access to world-class education from the comfort of their homes, adding both institutions would offer online certifications and professional courses across various disciplines such as IT, Project Management, Accounting and Finance, Agribusiness and Leadership, among others.

“We are excited to join forces with UI to bring quality education to learners worldwide. This partnership represents fusion of academic excellence and technological innovation, enabling us

to reach learners in every corner of the globe.”

Omobowale on his part said that the collaboration aims to empower individuals with the knowledge and skills necessary to thrive in today’s competitive world.

“The online courses offered through this partnership will be designed to accommodate diverse learning styles and preferences. Learners can expect engaging multimedia content and interactive learning modules, ensuring comprehensive educational experience, participants will also benefit from the guidance of experienced instructors and access supportive online community,” he said.

He expressed enthusiasm about the collaboration, stating, “our partnership with Edurex Academy

reflects our commitment to expanding access to quality education. By harnessing the power of technology, we can provide learners with flexible and convenient learning opportunities, empowering them to excel in their chosen fields.

“Registration for the online certifications and professional courses offered through Edurex Academy and UI has commenced with the first set of professional courses empowering learners nationwide and across Africa seeking to enhance their skills, pursue further education, or embark on new career paths.

“Interested learners and professionals can visit the official website of Edurex Academy on www. edurex.academy,” he added.

Group Urges Female Students to Partake in Unionism on Campus Omolabake Fasogbon A non-governmental organisation, MaroonSquare, has charged female students to actively participate in unionism actively, encouraging them to vie for key roles in the Students Union Government (SUG) and the National Association of Nigerian Students (NANS).

This was sequel to a recent report by University World News, which reveals that of the 170 universities in Nigeria, only nine female students from

nine universities have become student union presidents in the last 30 years.

During its annual roundtable in Lagos tagged, ‘The Nigerian Students Movement: 1982-1992’, the organisation asserted that female participation would be a path to restoring values in student unionism.

Speaking at the programme supported by the Ross Luxemburg Foundation, Policy Director of MaroonSquare, Onyeisi Chiemeke, decried the falling morals and

discipline in students’ unionism, being stirred by lust for wealth and power.

She called for urgent leadership training of union leaders, emphasising female participation and engagement in unionism.

Similarly, the Editor of Youth Digest Magazine, Yomi Gidado, in a paper on ‘Voices, Representation and the Dynamics of Students Unionism: An interrogation of the activities of Students’ Union in Ondo State University in Ado-Ekiti (1986-1992)’, stressed the need for political education and

re-orientation of SUG leaders to relate with the original motive of unionism on campus.

Gidado, who was once a student union leader, regretted that the present-day union was comatose and confused, adding that the leaders are no longer on campus.

He said Nigerian students have a role to play in national issues, especially at this trying moment, charging them to be an effective watchdog of the Nigerian state and its activities on the global political scene.

31

T H I S D AY • WEDNESDAY, NOVEMBER 29, 2023

Local Bourse Reverses Gain … ASI down 44bps

₦

₦

₦

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s T ic k er

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

N SLT EC H

0.66

10.0%

A C C ESSC OR P

52.4

-0.6%

SUN UA SSUR

1.36

9.7%

T R A N SC OR P

46.6

0.0%

6.3%

UP D C R EIT

46.2

0.0%

36.3

1.2%

R OYA LEX

0.67

T ic k er

T A N T A LIZ ER

0.58

5.5%

UB A

UN ILEVER

15.00

4.9%

UN IT YB N K

31.3

0.6%

NNFM

30.10

4.3%

VER IT A SKA P

28.7

-2.6%

ET R A N Z A C T

6.85

2.2%

OA N D O

26.6

-1.7%

J A P A ULGOLD

1.63

1.9%

UN IVIN SUR E

20.6

-3.4%

M ULT IVER SE

6.50

1.7%

FB NH

13.6

1.4%

R T B R ISC OE

0.62

1.6%

F ID ELIT YB K

13.6

1.1%

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 P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

OM A T EK

0.81

-10.0%

A C C ESSC OR P

942.8

-0.6%

IKEJ A H OT EL

4.20

-9.9%

UB A

774.3

1.2%

N EIM ET H

2.01

-9.9%

Z EN IT H B A N K

358.3

-0.4%

WA P IC

0.65

-9.7%

GT C O

338.6

-0.9%

C WG

6.90

-9.4%

OA N D O

319.7

-1.7%

P R EST IGE

0.48

-9.4%

T R A N SC OR P

309.9

0.0%

LIVEST OC K

1.68

-9.2%

FB NH

304.8

1.4%

D EA P C A P

0.70

-9.1%

NB

283.8

-0.3%

SOVR EN IN S

0.42

-8.7%

UA C N

214.6

-5.6%

-8.5%

UP D C R EIT

181.3

0.0%

T ic k er

M B EN EF IT

0.54

32

WEDNESday, NOVEMBER 29, 2023T H I S D AY

business/MOnEYGUIDE

Analysts Commend FG’s Projected $2bn Revenue from Expatriates’Employment Oluchi Chibuzor About $2 billion in annual income has been identified by analysts as one of the potential benefits from the federal government’s initiative to make expatriates’ employment contribute more to the national purse.

Some other benefits include increase in employment rate and lowering of the quest for foreign exchange.

The planned initiative to bring working expatriates’ community into the new revenue net has become all the more important in view of the declining and unpredictable revenue from oil.

Ministry of Interior, working in concert with the Nigeria Immigration Service (NIS), together with other stakeholders in government and the private

sector, is fine-tuning the granular details of the policy that would soon come on stream.

The broad consensus among analysts who tried to dissect the policy to apprise stakeholders with what to expect is that the initiative was reasonably creative, consistent with the age-old drive to expand the nation’s income base. Speaking on different platforms on the same subject, the analysts, including Professor Okey Ikechukwu, Mr. Chibuzor Okereke and Professor Abiodun Adeniyi were united in arguing that while the plan of government was legitimate, it should also be concerned about the transparent use of scarce resources.

During a TV programme, Dr Amaechi Anakwe, Prof.

Ikechukwu hailed any effort that was designed to increase the employment of Nigerian

citizens, especially because expatriates were not required for low-hanging jobs, which could easily be taken up by Nigerians.

He added that, “we do not require expatriates for construction, supermarkets, restaurants, and retail because we have more than enough citizens who can handle the sectors.”

Okereke argued in an interview with Arise TV Newsday programme that “if a Nigerian company goes to China and India and sets up a plant, it may have a handful of expatriates at management level, while the remainder will also be local staff members.

This is not the same case in Nigeria, where expatriates are more at the top and fewer at the bottom. It is time to reverse the narrative for Nigerians.”

L-R: Chief Finance Officer, Presco Plc, Johnson Amandor; Director, Presco Plc, HRH (Prince) Aiguobasinmwin Akenzua; Director Presco Plc, Bassey Edem; Managing Director, Presco Plc, Felix Nwabuko; Director, Presco Plc, Mr. Osa Osunde; Company Secretary, Presco Plc, Patrick Uwadia; Director Presco Plc, Amb. Nonye Udo and Chief Executive Officer, Presco Plc, Reji George at the company’s Extraordinary General Meeting (EGM) in Abuja…recently

Ekiti: PPDC Tasks Governments on Maximizing Public Fund

Gbenga Sodeinde in Ado Ekiti

A non-governmental organisation (NGO), Public and Private Development Centre (PPDC) has advised state and the local government areas to effectively manage the meagre resources at their disposal to make maximum impact on the people.

The centre said when public funds, which are from the taxpayers’ money are maximized, losses and wastes will be curbed and the citizens will be better for it.

The PPDC Senior Programme Advisor, Ife OlatunjiDavid gave the advice in

Ado Ekiti, the Ekiti state capital at the end of a 5-day Sub-national Public Procurement BootCamp organized by centre and supported by the MacArthur Foundation.

Olatunji-David said, “Yes we have scarce resources and things are not working as we use to have them before, yet we need to manage our small resources so that we can get maximum impact for the small money. So we need to cut down on loss and the only way to do that is to monitor and evaluate these projects properly.

“Because, if we are giving money and we are not monitoring and evaluating

what the money is going for, there will be a lot of loss.

So there is the need curb on loss and waste. Let us monitor, whether we want to do new projects, the project we are already doing should be monitored properly and ensure that people are compliant and carryout projects to specification.”

Speaking on the training, a participants, Ibitoye Helen Oluwatoyin of the Disabilities Not A Barrier Initiative commended the organizers of the BootCamp saying the training has happened her our eyes to so many new things especially in the area of gender inclusion in the procurement processes.

TGI Group Launches Women Webinar Series Tropical General Investments (TGI) Group, has announced the inaugural edition of the Women in TGI Webinar Series, aimed at fostering gender inclusion within the conglomerate and beyond.

The company in a statement said this initiative, spearheaded by the Women in TGI Committee, is designed to empower and promote inclusivity for women in the workplace, reflecting TGI’s commitment to diversity.

The webinar will feature an esteemed lineup of speakers, including Aisha Abubakar, Non-Executive Director, Union

Bank, as the keynote speaker.

HR Director – Non-AgriBusiness, TGI Group and Chair of the Women in TGI Committee, Onome Agomate expressed the committee’s dedication to supporting the Group in creating an environment where women feel valued and supported.

She emphasized the goal of providing tangible pathways for the advancement of women within TGI Group, going beyond mere representation.

“One of our core values as a Group is Diversity and Inclusion” Agomate stated. “Our

commitment to these values goes beyond lip service; we will continue to ensure that avenues are provided for women to excel, grow, and shape the future of TGI Group.”

Executive Director, TGI Group, Remi Oni added, “Empowering women is not just a moral imperative but a strategic advantage. The Women in TGI Webinar Series is a key step in fostering a workplace culture that not only celebrates women’s strengths and contributions, but also ensures that we create an environment for women to thrive.”

DPI,Verod Partner Pan African Towers on Digital Infrastructure Growth Pan African Towers (PAT), has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), to fuel its continued growth.

The firms, it said, will work with its management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.

Commenting, CEO of Pan African Towers, Azeez Amida said: “As a proud Nigerian-founded and run business, Pan African Towers is on a mission to accelerate the Nigerian market and support the growth of the mobile telecommunications

sector in the country. We also have a clear strategic vision to grow the business sustainably, including actively reducing the carbon footprint of our network to uphold best-in-class ESG practices. We are excited to partner with DPI and Verod and will leverage their sector experience and market expertise to help us achieve these goals. The evolution of Nigeria’s mobile and wireless industry presents significant opportunities for our business, and we look forward to being a part of this next chapter of growth.”

Speaking, Partner at DPI, Adefolarin Ogunsanya, said: “Pan African Towers is an exciting homegrown business with significant

potential and is uniquely positioned to benefit from the opportunity presented

by Nigeria’s digital innovation boom. We are incredibly excited to partner with PAT’s management team to help crystallize the Company’s vision of becoming Nigeria’s digital infrastructure provider of choice and look forward to sharing our deep knowledge and experience of Africa’s towers industry and the Nigerian market to help achieve this.”

Principal and Head of Investments at Verod Capital, Daniel Adeoye, said: “The Nigerian demographic is currently experiencing a surge in data consumption and related services, driven by a generation of tech-savvy digital natives that are unparalleled..”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY •WEDNESday, NOVEMBER 29, 2023

33

mARKET NEWS

FCMB Group Declares 108% Growth in PBT to N55.1bn

KayodeTokede

FCMB Group Plc has announced its unaudited results for the nine months ended September 30, 2023, declaring profit before tax growth of N55.1billion, an increase of 108per cent from N26.5 billion reported in the corresponding period of 2022.

The growth in profit before tax was driven by the Group

recording robust earnings growth in, Banking Group 130.1 per cent; Consumer Finance, 32.6 per cent; Investment Management, 38.7 per cent, and Investment Banking, 27.6 per cent.

The group declared gross revenue of N351.5 billion for the nine months 2023, 75.7per cent growth from N200.1 billion for the same period prior year.

This was driven by a 55.1per

P R I C E S MaiN Board

F O R DEALS

cent growth in interest income and a 144.6 per cent growth in non-interest income.

Net interest income grew by 29.5per cent from N93.1 billion, in the prior year, to N120.5 billion at the end of the period.

The growth in net interest income was driven by a growth in the yield on earning assets for the period ended September 2023.

S E C U R I T I E S Market Price

quantity traded

However, operating expenses grew 29.0per cent to N111.5 billion for the period ended September 2023, due to increased personnel costs, regulatory costs, technologyrelated costs, and general inflationary pressures.

FCMB Group announced net impairment loss on financial assets increased to N57 billion, for the period ended September 2023, from N18.7 billion in the

T R A D E D

value traded ( N )

MaiN Board

A S O F

prior year resulting in a growth in cost of risk to 3.9per cent.

Financial position revealed that the Group’s loans and advances grew by 34.3 per cent from N1.19 trillion to N1.59 trillion at the end of September 2023.

The Group in a statement said, “Our customer base grew by 15.4per cent from 10.4 million to 12 million customers for the period ended September 2023,

a current year growth of over 1.1 million customers.

“Similarly, our agency banking business grew its network to over 120,000 agents, acquiring over 130,000 customers during the period. “Investment Banking (advisory and primary debt and equity capital markets) transaction value consummated by the Group rose to N690.9 billion in the period under review, a 15.2per cent growth.

N OV E M B E R / 2 8 / 2 3 DEALS

Market Price

quantity traded

value traded ( N)

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WEDNESDAY, NOVEMBER 29, 2023 • T H I S D AY

NEWS

Decorating Fubara with the 2024 Armed Forces Remembrance Day Emblem...

Chairman, Rivers State Command of Nigerian Legion, Area Controller General (ACG, L ) Charles Hart, decorating Governor Siminalayi Fubara with the 2024 Armed Forces Remembrance Day Emblem, at the Government House, Port Harcourt ... yesterday.

Northern Senators Tell Niger Junta to Restore Democratic Rule Within Two Years

Sunday Aborisade in Abuja

Senators from the northern part of Nigeria, yesterday, handed down a two-year ultimatum to leaders of the military junta in Niger Republic to return the nation to democratic

rule in order to halt the worsening economic and humanitarian crisis in the country.

Their appeal was contained in a communique released after the Northern Senators Caucus Forum, read by the Chairman of the forum,

HURIWA to CJN: Nigerians Not Mobsters, Their Opinions Matter

Chuks Okocha in Abuja

Human Rights Writers Association of Association (HURIWA), has urged the Chief Justice of Nigeria, Justice Olukayode Ariwoola, to reconsider his adversarial, antagonistic stance towards public opinion, adding that, unchecked and pervasive corruption if not wiped out in the judiciary immediately could destroy democracy by instigating a revolution.

In a statement by the national coordinator, Emmanuel Onwubiko, the group said, "We in HURIWA have the greatest place of honour and veneration for the Nigerian judiciary as the bastion of hope and temple of justice for the people.

“We respectfully wish to appeal to His Excellency, the Chief Justice of Nigeria, to moderate his public position on the essence of public opinion and to separate jaundiced and politically sugar-coated emotive comments from rational opinions of the well meaning members of the public.

"We beg to disagree with the honourable, the CJN on his position about public opinion and for the hasty conclusion that the members of public are mobsters. The danger is that if the people lose faith, trust and confidence in the judiciary, they will resort to self-help, which may lead to destabilisation of constitutional democracy," he said.

Besides, he asked the CJN to respond to the alleged insinuations of the capacity of the All Progressives Congress to influence the outcomes of election related cases before their lordships at the Supreme court of Nigeria as allegedly made by a member representing Pankshin/ Kanam/Kanke federal constituency of Plateau State in the House of Representatives, Yusuf Gagdi.

The group recalled that the said House of Representatives member came under attack last week after allegedly bragging that his party, the All Progressives Congress (APC) in Plateau State, would influence the decision of the Supreme Court on the petition challenging the outcome of the governorship election in the state.

HURIWA recalled that whilst the lawmaker spoke, some people suspected to be APC supporters could be heard in the background hailing him, adding that such sarcastic comment was damaging to the reputation of the Supreme Court of Nigeria, and needed to be investigated.

It claimed that the silence from the judicial authority about this sort of statements that give the public the impression that the judges can be purchased by the highest bidders.

Senator Abdul Ningi.

The forum, at the meeting attended by majority of the senators, also demanded the release of the oustead president, Mohammed Bazoun.

Demanding the immediate lifting of sanctions imposed on the country by the leadership of the Economic Community of West African States, it also asked the Chairman of ECOWAS, President Bola Tinubu, to ensure an immediate restoration

of electricity supply to the North African country.

Part of the communique read: "The forum in strong terms condemned military interventions in democratic spaces in some West African subregion. The forum condemned in totality the coup de tat in Niger, Nigerian neighbouring country.

"We asked the military junta in Niger to heed the demand of other countries by freeing President Mo-

their country just as we are seeing what is happening in Gaza.

"We asked the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria and of course, the ECOWAS Chairman, Bola Ahmed Tinubu for as a matter of humanitarian gesture restore electricity in Niger Republic. We call on Niger and Nigeria that we remain brothers, we remain partners and we remain Africans," they said.

Ogoniland: HYPREP Begins Training of over 5000 People on Sustainable Livelihood Blessing Ibunge in Port Harcourt

The Hydrocarbon Pollution Remediation Project (HYPREP) has commenced training of over 5000 people in 20 different skill areas to empower them to earn their livelihood and become productive in the Ogoniland.

Project Coordinator of HYPREP, Prof. Nenibarini Zabbey disclosed this at Kpor Community, in Gokana Local Government Area of Rivers State, while addressing community workers undergoing training on

shoreline protection, environmental remediation and mangrove restoration in Ogoniland.

Prof. Zabbey said HYPREP project in communities in Ogoni would further empower the people and give them better source of livelihood.

He explained that the training is part of HYPREP's livelihood programmes for people of the area as the skills acquired would be beneficial to them beyond Ogoniland and even after the project has ended.

"We have projects site scattered all over Ogoni like the Ogoni Environ-

Anyaoku, Iwuanyanwu Head National Burial Committee for Nwabueze

The family of the late Professor Ben O. Nwabueze (SAN), has announced former Commonwealth Secretary-General and Chairman of The Patriots, Chief Emeka Anyaoku, as well as President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, as chairpersons of the National Burial Committee of the legal luminary and statesman.

The family also named Senator Ben Ndi Obi Vice-Chairperson, and Ambassador Okey Emuchay, Secretary of the Ohanaeze, while Mr. Olawale Okunniyi, Secretary of The Patriots, as co-Secretaries.

Mr Damien Obiefule will serve as the Assistant Secretary.

hammed Bazoun and his immediate family to fully chose a country of his choice. The Northern Senators forum further asked the junta in Niger to bring about a transition timetable that will last not more than two years period.

"The Northern Senators forum asked ECOWAS to lift restrictions on Niger Republic in the interest of business at our border communities.

It is important that Nigeriens should not suffer as a result of coup in

According to a statement signed by the head of the family, Dr. Eni Nwabueze, burial activities for the revered constitutional lawyer would take place from 26 February to March 9, 2024.

The funeral committee also included former Finance Minister, Dr. Kalu Idika Kalu of The Patriots; Dr. Tunji Abayomi, Chief Emeka Ngige (SAN), Barrister Chijioke Okoli (SAN), Mr. Ikechukwu Amaechi, Mr. Arinze Oduah, Chief Ben Egonu and Professor Ikenna Alumona.

There were also Chief Chukka Ifejika, Professor Amucheazi, Speaker of the Anambra State House of Assembly, Rt. Hon. Somto Udeze, while Mrs. Nkechi

Chukwurah, Nnenna Okwuosa and Jenkins Alumona, Vice President, Association of Advertising Agencies of Nigeria (AAAN), would represent the family.

Professor Nwabueze, a former Minister of Education, passed away on October 29 at the age of 92. He studied in the United Kingdom and became a lecturer in 1962 at the University of Lagos. He later joined the University of Nigeria, Nsukka.

Between 1970 and 1976, Nwabueze taught at the Law Faculty of the University of Zambia. He was involved in the drafting of Nigeria’s 1979 constitution, and received the Nigerian National Merit Award in 1980.

ment and Restoration Centre. That project alone would empower 800 Ogoni youths. As we speak, over 300 Ogoni youths are currently working there and of course, the Ogoni Specialist Hospital is also there and your colleagues are also working there.

“Now when we put all these together including those that are working at our 39 remediation sites as well as the 40 water projects sites, a critical mass of the youths and women of Ogoni are involved in our clean-up activities and that's promoting sustainable livelihood," he stated.

The 2000 community workers are to assist the over 34 contractors working on shoreline protection in the area.

They are undergoing Training on International Maritime Organisation (IMO), Certification 1&2 and are expected to work on the over 460 hectares of mangroves in the area.

The Project Coordinator emphasised that the cleanup activities in Ogoniland is in accordance with international best practices.

Further according to him, "The cleanup we are doing in Ogoni is people-centred. It's inclusive and following international best practice.

For you to qualify to work in a wet land, in the creeks, in the shoreline, you need International Maritime Organisation, Certification 1&2 and that's what this training is all about.

“As you are doing this training, training is going on concurrently at

Bomu and when we are done with your batch, another batch will come on board for this same training so that overall, we are going to train over 2000 community workers that will support the cleanup. What that means is that you are now given the tools to be able to clean up polluted environment".

Earlier at a stakeholders meeting in Bomu, Prof. Zabbey said there was need to get the community people to buy into their projects as they are primary beneficiaries.

His words: "We are doing this because when we are done with the restoration, it will take many years to monitor the return on ecosystem goods and services by the mangrove we have planted. So it's the community people that will join us to plant the mangroves, join us in monitoring the performance of the mangroves even when we have left Ogoni.”

One of the facilitators of the training, Mr. Jonah Shekwolo, said the training which has duration of four days is expected to give participants the needed qualification to work on the shorelines.

He said the training is internationally acceptable and the course content is standard and with qualified facilitators.

He expressed the hope that at the end of the training, participants would be able to operate equipment and know the strategies in environmental remediation and safety measures.

35

T H I S D AY • WEDNESDAY, NOVEMBER 29, 2023

NEWS

Salvi Lighting launcHES its Nigerian subsidiary...

L-R: International Business Development and Intermediation Expert, Etienne Marechal; CEO, Salvi Lighting Nigeria, Olatunji Adebayo; CEO, Salvi Lighting Barcelona, Javier Elizalde, Director Salvi Lighting Nigeria, Joana Adebayo and Economic and Commercial Counselor of Spain in Nigeria, Tomas Fernandez Garcia, during the Salvi Lighting launch of its Nigerian subsidiary, Salvi Lighting Nigeria Limited in Lagos ... recently

IG Sympathises With Victims of Military Attack in Adamawa Daji Sani in Yola

The Inspector General of Police, Kayode Egbetokun, has visited the Adamawa State Police command to sympathise with the state over the unfortunate clash between the military and police recently.

The IGP, while addressing police personnel at the headquarters of the state command, yesterday, observed a minute silence as a mark of honour to the late Inspector Jacob Daniel, who was killed during the clash between the military and police in the state.

He also sympathised with the victims and family of the deceased and also the command as he encouraged

the members of the force not be devastated by the incident because he has reported matter and soon justice will be served.

The IGP, also paid courtesy call on Governor Ahmadu Umaru Fintiri and lauded his

intervention in the recent clash.

Egbetokun, who led some top Nigeria Police officers to the Government House, Yola, as part of his working visit to the state, described the clash, which led to the killing of one

The Nigeria Union of Pensioners (NUP), yesterday, lamented the effect of subsidy removal on average pensioner across the country, saying it has brought them pains, frustration, and hardship.

This is just as it called on the federal government not to renege on its promise to include pensioners in the N25,000 cash award announced to cushion the economic hardship of the petrol subsidy removal, to assuage the pains of its members.

National President of NUP, Godwin Abumisi, who spoke at the opening of National Executive Council (NEC) meeting of the union held in Akure, the Ondo State capital, lamented that the petrol subsidy removal has further impoverished pensioners, urging the federal government to fulfill its promise due to their vulnerability.

"The Pensioners' Day this year was celebrated on the 5th of October, 2023, in line with the declaration of the day as the Older Persons' Day by the federal government. We addressed a world press conference and demanded the inclusion of pensioners in the N25,000 cash award announced by the federal government.

"Immediately after this, we met with the Hon. Minister of Humanitarian Affairs, Dr. Betta

Police Command in Adamawa and the State Government to maintaining security and peace to enable the Fintiri-led administration perform more better to the people.

He appreciated Fintiri for

Mother Delivers ‘Wanted Son’ Six Months After Police Placed N500,000 Bounty on Him

Ahmad Sorondinki in Kano

A notorious and wanted criminal popularly known as Hantar Daba, had been arrested by his aged mother and delivered to the Kano State Police Command six

months after placing N500,000 bounty placed on him.

About four months ago, the police declared Hantar Daba and two other notorious thugs, Abba Burakita and Nasiru Abdullahi, popularly known as Chile Mai

Subsidy Removal Has Brought Us Pains, Frustration, Hardship, Pensioners Lament Fidelis David in Akure

Police Officer as unfortunate, assuring that the situation was being handled and justice will be done at the end of the investigation.

He assured the officers of adequate support to the

Edu, and it is our hope that the list submitted will be treated with the needed zeal. This is why the theme of this year's NEC meeting ‘Effect of Subsidy Removal on an Average Pensioner’ is very apt and explicit.

"Without mincing words, the subsidy removal has brought with it, pains, frustration and hardship to average Nigerians, including the pensioners. In the light of this, we wish to use this occasion to passionately appeal to both the Federal, State and Local Governments to do something very fast to assuage the pains of our members and other vulnerable Nigerians."

While emphasising that its members had been struggling and battling for financial survival, Abumisi said if the palliatives were religiously implemented to the letter on record time devoid of the usual bureaucratic bottlenecks, it would go a long way to calm down frayed nerves of its members.

In his welcome address, the Ondo State Chairman of the NUP, Johnson Osunyemi, who pledged their total support and unfeigned loyalty to the National Headquarters, therefore, promised to always operate in accordance with the spirit and constitution of the union.

In his remark, Ondo State Gov-

ernor, Mr Oluwarotimi Akeredolu (SAN), represented by his Special Adviser on Union Matters and Special Duties, Mr Dare Aragbaye, said, as part of his admission's commitment to the welfarism of Pensioners, monthly pensions are being paid as at when due while government prioritise allocation of substantial amount of money for payment of gratuities.

Doki, wanted and placed an N500,000 bounty on each of them.

Commissioner of Police, Mr. Mohammed Gumel, in a statement signed by the Police Public Relation Officer (PPRO), SP Haruna Kiyawa, said Hantar Dabar's mother handed him over to the command intending to benefit from Kano State Government Amnesty Programme.

Gumel pointed out that, "The good news is that, the last person, Hantar Daba, yesterday, 27th of November, 2023, who has been on the run finally surrendered himself to the Police Command.

"He was led with joy and happiness by his mother and some family members requesting to be part of the amnesty programme of the state government."

He tendered his unreserved apology for his past misdeeds and ugly life, promising to be

a better person and be part of the promotion of peace and sustainable development of the State.

"In furtherance, he admitted that he controls more than 100 followers from his camp whom he has a strong influence on and will broker peace with them and bring them to change from the longtime supremacy fight (Fadan Yan Daba) regime between Hausawa, Gwale, and Kofar Na'isa Thugs Groups.

"Meanwhile, Hantar Daba is currently under the custody of the Kano State Police Command undergoing security profiling, the State Commissioner of Police,” the statement added.

Gumel, then called on anyone with a complaint against Hantar Daba to report to the Office of the Police Public Relations Officer (PPRO) at Bompai Police Headquarters Kano

the support being rendered to the police in carrying out security operations in the state in addition to commending him for providing dividends of democracy to the people.

Egbetokun seized the opportunity to reveal his vision in the Force to include among others, making the police friendly to the citizens, supporting the agenda of government and responding adequately to the dynamics of crimes and criminality.

Responding, Fintiri commended Egbetokun for bringing changes in the Nigerian Police Force such as improving the welfare of the personnel, saying the country has gotten the right man in the right place.

He requested for the establishment of police mobile training school in Mbamba Yola, as part of the commitment to boost security of lives and property in Adamawa and Nigeria.

Commissioner of Police in the state, CP Afolabi Babatola, requested for an Armoured Personnel Carriers, gun trucks and Hilux vehicles to strengthen police operation in the state He also appealed for personnel welfare and urged police officers in his command to be patriotic and committed to duty.

TY Danjuma Foundation Unveils Medical Centre for Improved Health Delivery in Enugu Gideon Arinze in Enugu The TY Danjuma Foundation has commissioned a multi-million naira Goodwill Medical Centre, a medical facility targeting provision of access to affordable and quality healthcare services in Enugu State.

The centre has provisions for maternal and child health, general primary healthcare, laboratory, eye health, prevention, and treatment of communicable diseases, general Surgery, accident and emergency services.

Speaking during the unveiling ceremony of the centre located in Umuchigbo Community, Enugu East Local Government Area, yesterday, chairman of the board

of trustees of the foundation, Uche Amazigo said that it will provide comprehensive and robust health care services close to low-income and poor families in Enugu.

Amazigo explained that at the inception stage, over 2,000 members of low-income families in Umuchigbo and other Abakpa environs were interviewed and they spoke about the enormous challenge of accessing quality health care and listed the services that should be provided and their willingness to participate.

"This commenced the next phase of the project which was the set-up we started and completed in 13 months, " she said.

"This centre with the assistance

of seven consultant specialists and professors, will provide low-cost treatment for indigent patients and charge others (the rich) the standard medical fees,". Amazigo further clarified.

She thanked the foundation for its contributions and investments in the health of the population, noting that the GMC project is only one of over 200 pro-poor projects funded by the TY Danjuma Foundation and implemented by 150 grantees in 36 states and the FCT. She further explained that the center also plans to enrol over 1000 indigent people randomly selected from communities, into the National Health Insurance Authority/ Group, Individual, Family Social Health

Insurance Programme (NHIA GIFSHIP) which will cost about NGN 15 million at the rate of NGN 15,000 per enrollee.

In his address, Founder and Chairman of the Foundation, Theophilus Danjuma thanked Amazigo and her team for their dedication to providing quality healthcare services to the poor.

"The GMC envisions a Nigeria where people unite to address the healthcare challenges of poor families in our communities," he said adding that, "Our objective is to provide quality healthcare for all."

On his part, Enugu State Governor, Peter Mbah, assured that his administration will ensure that the facility is protected for sustainability.

36

WEDNESDAY, NOVEMBER 29, 2023 • T H I S D AY

NEWS

Wedding of Daniel and Lucia Losada in Madrid...

L-R: Dan Akpovwa, Publisher, Abuja Inquirer Newspaper, Mr. Daniel Losada, a Spanish Diplomat and until recently, the Spanish Consul General in Nigeria, Mr. Juan Ignacio Sell, Spanish Ambassador to Nigeria and Prince Albert Esiri, Oil & Gas Magnate, during the Wedding of Daniel and Lucia Losada in Madrid, Spain... at the weekend

Ondo Assembly Backs Tinubu’s Peace Deal, Says Aiyedatiwa Remains Deputy, Not Acting Governor

Fidelis David in Akure

The Ondo State House of Assembly has declared its support for the peace deal agreed with President Bola Tinubu by political stakeholders over the political crisis in the state, but insisted Mr. Lucky Aiyedatiwa remained deputy, and not acting governor.

President Tinubu had last Friday intervened to stop the political impasse in the state, which had trailed the ill-health of Governor Rotimi Akeredolu, his absence from the state and the impeachment process against Aiyedatiwa.

However, reading the resolutions agreed to with the President at the Abuja meeting to his colleagues at plenary, the Speaker, Ondo State House ofAssembly, Olamide Oladiji, explained Aiyedatiwa was not acting governor, but deputy governor.

Commending Tinubu and the Afenifere Leader, Pa Rueben Fasoranti for their interventions, he said, "Honestly, there can never be any iota of development in an atmosphere devoid of peace. It is my sincere hope that the good people of our darling Sunshine State will harvest more dividends of democracy and good governance within the ambit of this renewed peace in our darling State.

"For the avoidance of doubt, let me present to the good people of Ondo State, the resolution reached after the meeting of representatives of

the Ondo State House of Assembly, the State Executive Council members, members of the National Assembly from Ondo State and the State Chairman of the All Progressives Congress with his Excellency, the President of the Federal Republic of Nigeria and leadership of our great party.

“That all parties shall embrace

peace; that status quo be maintained by all parties; that all impeachment proceedings be terminated forthwith, and all court cases withdrawn by all parties; that there will no dissolution of the State Executive Council.

"That undated letter of resignation must be written, signed by the Deputy Governor and submitted to the President; that the party

leadership and structures remain intact; that the House of Assembly leadership remains intact; that Hon. Lucky Orimisan Aiyedatiwa continues to perform the functions of office as Deputy Governor.

"That three enforcers including the State chairman of APC, Engr.

Ade Adetimehin, the Speaker of the State of House of Assembly, Rt.

the Sunshine State in the interest of the people.

"Let me at this juncture warn politicians and other gladiators fanning the embers of war, in this state, because of their political interests to please tread softly as the House of Assembly will not hesitate to deploy the full weight of the law in calling them to order,” he said.

Abubakar: Zulum Often Risks His Life for Military Michael Olugbode in Maiduguri The Minister of Defence, Mohammed Badaru Abubakar, yesterday, declared that the Borno State Governor, Babagana Zulum, has continuously given incredible support to the Nigerian military and in many instances, risked his life visiting frontlines to motivate troops.

The minister made the remarks at the council chamber of the Borno State Government House in Maiduguri.

He said, “My brother (Governor Babagana Zulum), the troops here in Borno and indeed the Chief of Defence Staff (CDS) asked me to send their appreciation to you for all the support that you have been rendering to the military.

“You have been supporting us in all our operations, thank you

most sincerely. Sometimes, you even risk your life supporting and encouraging our personnel, we appreciate you.”

The minister noted that their visit was at the instance of President Bola Tinubu to assess the security situation in the theatre of operations in Borno State in order to see the end of the over a decade of insurgency.

The minister spoke in the presence of his colleague, the Minister of State for Defence, Dr Bello Mutawalle; the Chief of Defence Staff, General Christopher Musa; the Chief of Army Staff, Lt General Taoreed Lagbaja; the Chief of Naval Staff, Vice Admiral Emmanuel Ogala; and the Chief of Air Staff, Air Marshal Hassan Abubakar, all of whom were on the trip to Borno State.

In his response, Zulum reiterated commitment to continue to support

the Nigerian military in the fight against Boko Haram insurgency across the northeast.

“As Governor of Borno State, In Sha Allah, I will continue to support the Nigerian military with a view to achieving our objective of bringing lasting peace and stability to Borno and by extension, Nigeria. I will continue to provide the political will needed to achieve this objective,” he said.

The governor noted that the security situation in Borno has tremendously improved, he however charged the military to root out the remnants of the insurgents from Sambisa forest, Mandara Mountains and the enclaves in the Lake Chad Basin in order to completely end the insecurity.

He added that stability in the Lake Chad Basin would allow governments from all levels to

Tinubu to Nigerians: Present Hardship Temporary, Benefits Will Be Permanent

ment is not merely about constructing roads, constructing bridges, and power plants. It is about creating a holistic ecosystem that fosters economic productivity, enhances social wellbeing, and promotes environmental sustainability.”

Earlier, President of NSE, Tasiu Gidari-Wudil, described the conference as the largest convergence of Nigerian engineers annually. Gidari-Wudil bemoaned the continual decline of activities in the manufacturing sector. He explained that transformation of the manufacturing sector was critical in driving economic growth, as it stimulated innovation and provided the roadmap for development.

The governor of Nasarawa State, Abdullahi Sule, also stated at the occasion that if Nigeria must develop, it had no choice but to embrace manufacturing.

Highlights of the event included the conferment of NSE’s Fellowship on Shettima; Minister of Niger Delta Development (MNDD), Abubakar Momoh; and Sule, among others.

While Shettima was conferred

Hon. Olamide Oladiji Adesanmi, and Secretary to the State Government Princess Catharine Oladunni Odu were appointed to monitor compliance with the foregoing resolution."

He urged those involved to sheathe their sword, bury the hatchet and think of better ways to accelerate the much-needed development of

with NSE’s honorary fellowship, Momoh and Sule bagged the full Fellowship of the society (FNSE), both of them being trained engineers.

Gidari-Wudi said the honour was conferred on the recipients because of their contributions to the engineering profession and the country, at large.

Expressing appreciation for the honour, Momoh, who holds a Master’s degree in chemical engineering, said, “I feel very glad because it is a recognition from our professional colleagues, which is an indication that the little effort that I have made in the past is very well recognised.

"I am, indeed, very glad that this recognition will spur me to do more and, particularly, when we now find ourselves in the Ministry of Niger Delta Development, where we also collaborate with the Nigerian Society of Engineers in order to mitigate the effect of climate change in the region.

“As an engineer, I expect those handling our projects at the ministry to give us the best because that is what the people of Niger Delta and Nigerians deserve. We will

also interface with other agencies and other ministries who have one thing or the other to do in the Niger Delta.”

Momoh added, "Being an interventionist ministry, we have to intervene in so many areas and in collaboration with so many ministries because most of the activities of the ministry are also domiciled in other ministries and agencies.

“For instance, if you talk in terms of road network, the ministry of works is there. If you’re talking in terms of youth restiveness, the presidential amnesty programme is there.

"If you are talking in terms of blue economy, which, of course, traverses the entire Niger Delta region, the ministry is there. We intend to work together and in collaboration make sure they the region is better for it.”

Commenting on the NSE fellowship conferment on Momoh, a former member of the House of Representatives, Hon. Abdul Oroh, said, “We have known the honourable minister for many years as a distinguished engineer.

In fact, most people call him engineer because they don’t know his name.

“We are happy that now, he has reached the peak of his professional attainment. He is a great manager, a leader, a great politician, a thoroughbred professional and a very dependable person - if he says yes, you can take his words to the bank - he is very dependable.”

Similarly, Hon. Patrick Ikhariale, also a former member of the House of Representatives, said, “A great honour has been done to my friend and brother, Engr. Abubakar Momoh.

It shows a very competent engineer that he is and we are very happy for this because this is a man that we can say with all sense of responsibility has been very disciplined in his profession.

"He has done so well that it is not surprising that the Nigerian Society of Engineers has deemed him worthy and fit to confer him with a fellowship today."

Chief Emmanuel Iwuayanwu, Chief James Ibori, Iyiola Omisore, and several other dignitaries were present at the event.

harness the agricultural potential of the Lake towards achieving President Tinubu’s food security initiative.

Zulum expressed gratitude to

the president for the leadership he has been providing to address the problem of insurgency in Borno and other security challenges across the country.

IMO: Oyetola Holds Bilateral Talks with Saudi Arabia, Bangladesh, Others Nigeria set to sign MoU with Saudi Arabia

The Minister of Marine and Blue Economy, Adegboyega Oyetola, yesterday continued bilateral discussions with ministers and representatives from the Kingdom of Saudi Arabia, Bangladesh, Brazil and Jamaica, expressing Nigeria government’s interest in learning from their knowledge and experiences.

In a statement released by his media aide, Ismail Omipidan, Oyetola, recalled that he earlier held bilateral meetings with representatives of Greece, Qatar, and Mexico, on the sidelines of the ongoing 33rd General Assembly session of the International Maritime Organisation (IMO), in London, United Kingdom.

During his meeting with the Brazilian Chief of the Navy's General Staff, Adm. José Augusto da Cunha de Menezes, the minister said Nigeria would want to learn from the operations of the Brazilian coast guards, as the ministry was desirous of setting up one so as to further secure the maritime space and the country's waterways.

"We want to also focus on sectors such as Marine Renewable Energy, Marine Mining, Subsea Cabling and Piping, Marine Genetics, and Biotechnology, so as to grow the marine and blue economy.

"As we continue to expand and develop the activities of the sector, there will be need to deepen security architecture within the

maritime space. In this regard, we are considering setting up Coast Guards and we believe that they will complement the existing security architecture to further secure our maritime space," he said.

The minister while expressing Nigeria's desire to tap into technology to revolutionise the maritime sector, further said that technology and innovation are vital for boosting Nigeria's trade and investment prospects within the Marine and Blue Economy.

“Advanced marine technologies, including innovations in maritime logistics and smart logistics solutions, will significantly enhance the efficiency and sustainability of maritime transport and port operations, making Nigerian ports more competitive globally," he noted.

Oyetola also met the newly elected Vice President of IMO, who is the Bangladesh High Commissioner to the UK, Saida Muna Tasneem and Saudi Arabia's Saleh bin Nasser AIJasser, who is the minister in charge of the Ministry of Transport and Logistics Services of Saudi Arabia, Department of Economic and Social Affairs.

Both Saudi Arabia and Nigeria during the meeting agreed to sign a formal Memorandum of Understanding (MoU) to cement their cooperation, collaboration and partnership in the maritime space.

wednESday november 29, 2023 • T H I S D AY

37

NEWS

TEEZERS DRINK RELAUNCHED…

L-R: Nollywood Actor, Yomi Fash-Lanso; Head of Marketing, Intercontinental Distillers Limited, Mobolaji Alalade; Reality TV Star, Angel Smith; Managing Director, Intercontinental Distillers Limited, Patrick Anegbe; Nollywood Actress , Shaffy Bello, and Nollywood Actor, Kunle Remi, at the relaunch of Teezers Sparkling Cocktail drink held in Lagos…recently SUNDAY ADIUN

COVID-19: House C’ttee Queries Water Resources Ministry over Sinking a Borehole with N25m Juliet Akoje in Abuja

The Public Accounts Committee of the House of Representatives currently investigating Ministries, Departments and Agencies of the federal government on the alleged mismanagement of COVID-19 intervention funds from 2020 to 2022 has queried

the Federal Ministry of Water Resources for reportedly sinking a borehole between N25million and N12.5million naira per unit, describing it as unacceptable.

The committee, which was chaired by Hon. Bamidele Salam (PDP-Osun) also queried the N4billion reportedly spent by the ministry on the recruitment

Ikpea: I’m the Best Aspirant to Pick Edo APC Guber Ticket

Adibe Emenyonu inBeninCity

Ahead of the 2024 governorship election in Edo State, one of the aspirants on the platform of the All Progressives Congress (APC), Mr. Joe Ikpea, said he is the best among other aspirants to clinch the party ticket.

Ikpea, a former Commissioner for Oil and Gas in Edo State, and Executive member of the State Universal Basic Education Board (SUBEB), who said this during a visit to the secretariat

of the Correspondents Chapel of the Nigeria Union of Journalists (NUJ), yesterday insisted that being a foundation member and major financer of the party in the state, he should be compensated with the party governorship ticket.

Asked if he was aware his party, the APC, has streamlined aspirants from his zone (Edo Central) to three, of which his name is copiously missing, Ikpea said he was aware, but insisted that he would continue with his course, and that with God all things are possible.

of 100 personnel for a period of three months for a project known as Youth Engagement for Sanitation (YES) across the 774 local government areas in the country.

The Permanent Secretary of the ministry, Mrs. Didi Esther Walson-Jack, disclosed to the committee that the boreholes were sunk in some locations across the states of the federation

and the Federal Capital Territory (FCT) Abuja.

She said: “In total, 299 new water schemes were embarked upon during the period, just as a total of 188 rehabilitation

of old and abandoned solar boreholes were resuscitated during the period, and that each state of the federation received N10 million intervention items.

Police Arrest 43 Suspects for One Chance Robbery, Others in FCT Operatives of the Police Command in the Federal Capital Territory (FCT) said it has arrested 43 suspects over “one chance” robbery, kidnapping, armed robbery, cultism and other criminal offences in the territory.

The Commissioner of Police (CP) in the FCT, Mr Haruna Garba

said this during a media briefing yesterday in Abuja.

He said 11 of the suspects were arrested for “one chance” robbery, seven for alleged kidnapping and others for various criminal offences.

Garba said three stolen vehicles, five firearms, 30 ammunition and

other dangerous weapons were recovered from the suspects.

He said operatives from the Tradmore Division of the Command, on October 24, arrested a suspect following a report by one Faith James.

The CP said James had reported that she boarded a green Peugeot

vehicle with Reg. No. CK 202 GWA from ACO estate junction heading to Trademore and was robbed of her belongings, including N110,000 cash.

He said the victim was robbed by the commercial vehicle driver and her colleagues who pretended to be genuine passengers.

Bauchi Gov Charges Corps Members to be Committed, Disciplined Serving their Fatherland Segun Awofadeji in Bauchi

Bauchi State Governor, Senator Bala Abdulkadir Mohammed has welcomed the 2023 Batch ‘C’ Stream II corps members deployed to the state, urging them to individually and

collectively make positive impacts on the lives of their host communities.

Speaking at the opening of their three weeks orientation course held at the State NYSC camp Wailo, the governor congratulated the corps

members on the successful completion of academic endeavours and their patriotic response to the clarion call to serve the country which he said is a clear manifestation of their consistent obedience to constituted authority.

Represented by his Deputy, Rt. Hon. Mohammed Auwal Jatau, the governor noted that the National Youth Service Corps (NYSC) has remained a beacon of hope in the country’s mission for a united and prosperous nation.

Tension in Bayelsa Community over Alleged Invasion, as Group Calls for Sylva, Maciver’s Arrest and prosecution of former State written to the Inspector General Security outfit, Joshua Maciver, Olusegun Samuel inYenagoa

Minister, Timipre Sylva, of Police (IG), Kayode Egbetokun, the group alleged that the order Pension, Gratuity to Gulp Palpable tension still envelopes Petroleum and his governorship running mate and other security agencies to invade the community was community in in the last gubernatorial election over the armed invasion of the masterminded by Chief Timipre N17.9bn in Katsina 2024 Budget Igbomotoru community by armed security Sylva and Joshua Maciver.

Southern Ijaw Local Government in the state, Joshua Maciver Francis Sardauna in Katsina

The Katsina State Government has set aside the sum of N17,912,231,618.30 for pension and gratuity in the state’s proposed 2024 budget.

The Katsina State Commissioner for Budget and Economic Planning, Mr. Bello Kagara, unveiled this to journalists when he presented the state’s proposed 2024 budget breakdown at the Old Government House.

A fortnight ago, Governor Dikko Umaru Radda presented the state’s 2024 budget proposal

of N454,308,862,113.96 christened “Building Your Future I” to the Katsina State House of Assembly for scrutiny and consideration.

Kagara explained that the pension and gratuity of the state’s senior citizens would gulped N17,912,231,618.30, while N38,557,668,760.40 was proposed for personnel cost and salaries payment, totaling N56,469,900,378.70.

He said that 72.63 per cent of the 2024 budget estimate is set aside for capital expenditure while 27.37 per cent would be spent on recurrent expenditure.

Area of Bayelsa State, as more protest and outcries continue to trail the military invasion, with a group calling for the arrest

Amid the ongoing protest, a group under the auspice of the Bayelsans for Accountability and Good Governance (BAGG) has

Kayode Tokede

winter and fall cohorts during last weekend graduated from the capacity-building in the presence of top executives at Emerging Africa and faculty of the programme in Lagos.

In her charge to the graduates, the Chief Executive Officer and Executive Vice Chairman, Emerging Africa Group, Dr.

The organisers of the annual gospel concert: “The Experience” has said that the programme would unify Nigerians through worship regardless of their diverse social and economic background.

The orgainsers also stressed the need for unity among nations of the world, especially Nigeria, in their announcement of the 2023 edition of the concert that is billed for December 8.

They noted that the free to attend programme would foster togetherness and promote social impact initiatives through

Coca-Cola’s partnership with the programme.

They further announced that a line -up of global worship leaders have been arranged to minister in song and words to the diverse audience that would converge at the Tafawa Balewa Square, Onikan, Lagos, venue of the programme.

Expected artistes for the concert as identified by the organisers included Ehi, Tope Alabi, Dunsin Oyekan, Onos Ariyo, Prinx Emmanuel, Nathaniel Bassey, IB Quake, Adeyinka Alaseyori, Beejay Sax, Moses Bliss andWilliam McDowell.

The group, therefore, called for the immediate investigation and arrest of Sylva and Maciver over allege complicity.

Emerging Africa Graduates 12 from Executive Leadership Programme In a move to further boost the capacity building of mid-level and senior-level executives and entrepreneurs, a total of 12 participants have graduated from the Emerging Africa Executive Leadership Program (ELP).

The 12 participants in the 2023

Toyin Sanni, commended them for showing commitment towards enrolling for the ELP. She, however, gave them sevenpoint charges, maintaining that the 12 participants were appreciated for their services and dedication.

According to her, “Point number one, welcome to the Emerging Africa capacity building alumina.

A group of over 50 C-suite executives who have since met on this programme go on to become founders, chief executive officers, to raise capital to access financing and to become friends and collaborators. Point number two, I can assure you that billions of naira deals can be done by those who meet in this programme.

Niger PDP : We are Not Moved By the Defection of Ibeto, Others to APC

‘Experience 2023 ‘ll Unify Nigerians’ Laleye Dipo inMinna Omolabake Fasogbon

personnel.

Despite denial of any complicity in the armed invasion by the Bayelsa State head of the Tanita

The Niger State Executive Committee of the Peoples Democratic Party (PDP) met for the first time in Minna on Thursday after the 2023 general elections where it resolved that the defection of the former

Deputy Governor of the state Alhaji Ahmed Musa Ibeto and a former House of Representatives member Ibrahim Ebbo to the APC “is a non issue.”

Chairman of the party, Mr Tanko Beji, in a statement described the defectors “political nomads” who have no electoral

value.

Beji, who spoke to newsmen after the meeting that lasted over three hours, said the former PDP big wigs have no bus stop as they have moved several times from the PDP to the APC and vice versa adding that “people no longer want to remain in the

same party with them.”

According to him, immediately Ibeto left for the APC not less than 10 members of the APC defected to the PDP from his (Ibeto)Magama Local Government Area, adding that they will be unveiled soon he said.

Wike Orders FCDA to Provide Infrastructure to Shelter Judges

Olawale Ajimotokan in Abuja

The Federal Capital Territory (FCT) Minister, Nyesom Wike, has directed the Federal Capital Development Authority (FCDA) to provide infrastructure in Katampe and Jabi Districts

designated for the construction of residential buildings for judges in Abuja.

He gave the order yesterday after inspecting the area, noting without infrastructure constructions would not commence.

Wike also directed FCDA to provide roads in the area designated for the construction of the Court of Appeal, Abuja Division, in Jabi District, Abuja.

He said that the move was part of efforts to renew Nigerians’ hope and trust in the government,

through the renewed hope agenda of President Bola Tinubu.

Wike also added that the FCT Administration has concluded plans to build a Memorial Centre at Jabi, on the site of a shopping mall that collapsed in 2018 and claimed seven lives.

38

WEDNESdaysports

WEDNESDAY, NOVEMBER 29, 2023 • T H I S D AY

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Ancelotti Wary of Osimhen’s Threat at Bernabeu Tonight

Real Madrid Coach, Carlo Ancelotti, has said that he is aware of the threat that Napoli striker, Victor Osimhen, poses tonight but he has plans to neutralise the forward.

Italian champions, Napoli travel to the Estadio Santiago Bernabeu this evening in the reverse fixture of the UEFA Champions League to take on Real Madrid in their penultimate

C H A M P I O N S L E AG U E game of the group stage.

Real Madrid won the first leg in an interesting tie that ended 3-2.

However, the Partenopeans would be looking to upset the Spanish giants this time.

Coach Walter Mazzarri will have

an almost full squad following the return of the Nigerian forward from injury layoff as seen over the weekend.

The Super Eagles star got off the bench to assist Napoli’s second goal against Atalanta, but Osimhen is likely

to start against Real Madrid tonight.

Ancelotti who praised Osimhen however insisted that he has plans to ensure that the Nigerian does not function.

“Kvara is formidable one-on-one, Osimhen is a complete attacker, very strong with his head and in transitions,” Ancelotti told Napoli Magazineahead of the clash.

“We took all this into account in the first leg, and we will try to take it into account on Wednesday (today) too.”

A victory for Napoli would seal their place in the Last 16. Osimhen is yet to score in the Champions League this season, and he will be looking to open his account this evening.

Chukwueze Scores First Champions League Goal as Milan Stumble

Today Galatasaray v Man Utd B’Munich v Copenhagen Sevilla v PSV Arsenal v Lens R’Madrid v Napoli Sc Braga v U’Berlin Benfica v Inter Sociedad v Salzburg

Haaland sets UCL record at Etihad as City fightback to beat RB Leipzig Duro Ikhazuagbe

Samuel Chukwueze scored his first Champions League goal for AC Milan as the hosts were beaten 3-1 by visiting Borussia Dortmund at San Siro last night.

The former Villarreal winger cancelled out Dortmund’s opener

by Marcos Reus to set the stage for a possible revival for the Stefano Pioli’s men.

That however didn’t manifest as Dortmund fired two more goals by Bynoe-Gittens and Karim Adeyemi to leave Milan at the bottom of Group F table on same five points as Newcastle who were forced to a one- all by PSG in the group’s other game last night.

Only Dortmund is sure of a place in the Last 16 from the Group so far.

Elsewhere, Erling Haaland

obliterated a Champions League goalscoring record at Etihad Stadium as Manchester City fought back from two goals down to complete a thrilling 3-2 victory against RB Leipzig.

The Norway forward is the quickest player ever to score 40 goals in the competition - reaching the milestone in just 35 matches, 10 fewer than Ruud van Nistelrooy, the previous record holder.

His goal also sparked a comeback win that ensured City, already through to the last 16, secured top spot in Group G with a game to spare.

For an uncomfortable 40 minutes, it looked as though their proud 28-match unbeaten home European record was about to come to an end.

But the second-half introductions of Julian Alvarez and Jeremy Doku transformed City.

RESULTS Lazio 2-0 Celtic Feyenoord 1-3 Atletico AC Milan 1-3 Dortmund PSG 1-1 Newcastle Man City 3-2 RB Leipzig Y’Boys 2-0 C’Zvezda Shakhtar 1-0 R’Antwerp Barcelona 2-1 Porto

Samuel Chukwueze...scored his first Champions League goal as AC Milan were beaten 3-1 by Borussia Dortmund in a Group F game in San Siro last night

Third Aruna Table Tennis Open Serves off in Lagos Madugu Confident Falcons Will Fly The much-anticipated 3rd Quadri Aruna National Table Tennis Open will today serve off at Eko Club in Lagos.

The five-day tournament is organised by Aruna Sports and Academy with support from Eko Club and Olusoga Odunayo Adesanya Foundation with Lagos State Table Tennis Association (LSTTA) providing the technical backing.

Already, teams from 10 states have arrived for the tournament as clubs and academies within and outside Lagos are working tirelessly to beat the deadline for registration as top players have expressed interest to be part of the championships as the absence of men's singles defending champion Muiz Adegoke may throw up a new champion as Bose Odusanya is ready to reclaim the title she won in 2022.

For the coordinator of the tournament, Ganiat Aruna, the championship is aimed at unearthing new talents that would step into the shoes of top stars like Quadri Aruna.

“Our aim is to discover more talents by catching them at a younger age as well as to discover more talents like Quadri Aruna in the near future. We hope to help improve the physical fitness and health of children to maintain a healthy lifestyle through table tennis by preventing a range of health issues such as obesity, heart

disease, and diabetes in children as it has increased dramatically in recent years,” she added.

“We also want to develop valuable teamwork and leadership skills that can help foster a sense of camaraderie and mutual respect among team members as well as build critical skills such as problem-solving, decision-making and conflict resolution to prepare to lead in the society,” the former national junior champion said.

Specifically, she said: “Our aim is to take the kids off the street by giving them a meaningful life through sports. And above all, we want to keep encouraging them that their education is more important because education is the best legacy.”

as Cape Verde Girls Storm Abuja Coach Justin Madugu has expressed deep faith in his Super Falcons’ squad to excel when they clash with their Cape Verdean counterparts in a 2024 Women Africa Cup of Nations final round, first leg qualifier at the MKO Abiola National Stadium tomorrow evening.

“We are without a few regular players for various reasons but we are not here to dwell on that. The Super Falcons’ team remains the Super Falcons anytime, any day, and anywhere. We have players in camp who will do justice to the badge and get us the qualification ticket to the AFCON. “Surely, we would have wanted a

WA F C O N 2 0 2 4 Q UA L I F I E R couple more days for the team to train together, but the fixture is the fixture and the window is the window, and we just have to make do with what we have and get the best out of the arrangement. Everyone in camp will play their part for the Super Falcons to qualify for Morocco 2024.”

A total of 20 of the 21 invited players were at the team’s camp yesterday morning, with only University of Pittsburgh of America’s Deborah Abiodun still expected.

Nine-time champions Nigeria reached this final stage of the

qualification series following the withdrawal of Sao Tome’s senior girls from a second-round fixture in September.

Meanwhile, the delegation of Cape Verde’s senior girls flew into Nigeria’s capital, Abuja on Monday morning.

They will have there official training at the main bowl of the MKO Abiola National Stadium this evening from 4 pm.

Tomorrow’s encounter will begin at 4pm, with Madugu most likely to hand leadership of the rearguard to Mexico-based veteran Osinachi Ohale,

who was among the first players in camp, and with Captain Rasheedat Ajibade to lead a midfield and attack that could include Peace Efih, Toni Payne, Esther Onyenezide, Omorinsola Babajide, Esther Okoronkwo, Uchenna Kanu and Gift Monday.

Goalkeeper Chiamaka Nnadozie, on the shortlist for the CAF African Player of the Year awards coming up in Morocco this weekend, will be in goal.

The 13th edition of Africa’s flagship women’s football championship will be staged in Morocco in July next year.

The return leg fixture is to hold in Praia on Tuesday, 5th December,

National Volleyball Champions, CNS Spikers, Present Trophies to Naval Chief Kingsley Nwezeh in Abuja

The national volleyball champions, CNS Spikers Volleyball Club, yesterday, presented the championship trophies to the Chief of the Naval Staff, Vice Admiral Ikechukwu Ogalla, in Abuja.

The CNS Spikers made up with of both male and female player emerged champions at the just concluded 2023 National Division 1 Volleyball League in Owerri and Kaduna.

The male team topped both 1st and 2nd Phases of the National Division 1 league that was played in Owerri, Imo State in June 2023 and in Kaduna in October 2023.

Receiving the trophies from the Director of Sports, Nigerian Navy, Commodore AD Oladepo, the naval chief, who was represented by the Chief of Administration, Nigerian Navy, Rear Admiral Kenneth Ezete, commended the teams for their outstanding performances which established the navy in the sport.

"The navy teams have done well, most especially the female team which has excelled like the falcons. The male team has also done a great job", he said.

He said the navy will not waver in its determination to promote sports while pledging to reward the champions.

He also urged them to also toe the path of academic development.

"As you are engaged in sports, develop yourself along education line so that at a later time in life you will be better positioned",

he said.

Speaking earlier, the Chairman, Nigerian Navy Volleyball Association and the CNS Spikers Volleyball Club, Commodore Mohammed Muye, said the male team was unbeaten in all the matches played and were crowned champions in Kaduna in October 2023.

"Consequently, the team has gained promotion to play in the Premier League in 2024. The female team also topped the 1st and 2nd phases of the premier league played in Abuja in July

2023 and November 2023 and have been crowned champions of the National Volleyball Premier league 2023.

"It is also pertinent to mention that the male team won five individual awards including the MVP. Likewise, the female won three individual awards including the MVP. "The CNS Spikers male and female teams were again, nominated based on excellent performances to represent Nigeria at the African Club", he said.

T H I S D AY • WEDNESDAY, NOVEMBER 29, 2023

39

BACK PAGE CONTINUATION African Democracy or Democratic Africa? challenge is how to deepen the democratic content of the polity in such a way that it could enhance the overall development of the entire society.

To start with, liberal democracy is not the only form of democracy. Others forms include social democracy, popular democracy and people’s democracy. The taxonomy of the forms of democracy is, of course, ideologically determined. And the ideas propelling these forms are universal in terms of relevance.

Obasanjo and other proponents seem to be ignoring these distinguishing features. Take a sample. Liberal democracy focuses on the individual liberties; social democracy places a great premium on socio-economic justice in the system while popular democracy’s emphasis goes beyond the mere participation of the people in the democratic process to include the material power to hold those in power accountable.

By the way, liberal democracy based on the rule of law is not the only thing Africa “inherited” from the West. Unlike liberal democracy, however, the other things of great influence on Africa are taken as the way of life by Africans. These are science, capitalist competition, modern medicine, consumerism, and the protestant work ethic. Scottish-American historian Nial Ferguson calls these factors “ the killer applications” which non-western societies should “download and upgrade.” In his book, “Civilization: The West and the Rest,” Ferguson argues that these factors have enabled the West to take a lead over other parts of the world in the present civilization. The dominance of this western civilization is just about five centuries old. Before its emergence other civilizations existed which also dominated their areas of influence. For example, the Ottoman Empire and Ming Dynasty in China had existed before this western civilisation. From an undisguised neo-colonialist perspective, Ferguson targets the younger generation in telling this story of western greatness while celebrating the days of the empire. He is worried that the West is taking freedom for granted in the face of the ascending authoritarian tone of populist politicians in the West.

Well, no empire lasts for ever, as they say.

The ideas of liberal democracy are as much universal in application as the ideas of science, modern medicine and the consumerist society. The domestic application may vary but the fundamental principles are the same everywhere.

Freedom of the individual, for instance, is basic to liberal democracy. In all liberal democratic systems this is held as sacrosanct. India is an Asian country that was also colonised by Britain just like

Obasanjo Nigeria. India’s experiment with liberal democracy is not immune to problems. It is said jokingly in some sanguine quarters that an Indian election in which only a few dozens of people are killed is considered a relatively peaceful election in the largest democracy on earth. Yet Indians of various political parties are not seeking Asian democracy because colonialism forced liberal democracy on the Asian people.

Incidentally, this year marks the centenary of political party formation in this country, with the birth of Herbert Macaulay’s Nigerian National Democratic Party (NNDP) in 1923. The Peoples Democratic Party (PDP) is just about a quarter of a century old. In other liberal democratic climes, there are politicians of the same age as Obasanjo who have been leaders of their parties as conservatives, liberals or radicals p for decades. They defend fiercely the ideologies of their political parties.

The reverse has been the case in the politics of Obasanjo, who has had the privilege of being elected as President twice on the platform of PDP. On Sunday, a fellow columnist, Simon Kolawole, did justice on this page to the emergent issues from the Obasanjo advocacy. Rather than repeat the valid points made by Kolawole, this column today is only an attempt to look at Afrodemocracy beyond Obasanjo’s advocacy.

One day Obasanjo elected to tear his party membership card because of intra-party disagreements and he made a public of show of it. This spectacle was staged years after he proclaimed as a sitting president that an election would be a “do or die” matter. Only a few weeks ago, Obasanjo’s deputy, former Vice President Atiku Abubakar claimed that he intervened to ask Obasanjo to spare Lagos state from being “taken” in the 2003 governorship election. The language of the election was that the

PDP “captured” the states controlled by the Alliance for Democracy (AD). So, the question may be asked: was what happened in the southwest in 2003 an election or a conquest by Obasanjo’s PDP. Obasanjo was once the leader of the party; he determined who could be the party chairman at will.

The foregoing are just samples of Obasanjo’s practice of liberal democracy as an extremely lucky politician with a military background. These distortions of liberal democracy did not happen because the West forced liberal democracy on Nigeria or because liberal democratic principles are not intrinsically African. Obasanjo’s acts while in power were distortions in the same way that Donald Trump asking the electoral official in Georgia to “find” 11,780 votes for him to win the American presidential election were distortions. Trump is also alleged to have instigated the assault on the Capitol on January 6, 2020 by a mob when the electoral process was to be concluded. Trump has western blood in him and he is not by any stretch of imagination an African. So the problem is not the non-application of liberal democratic principles in Africa. The problem is that those who are supposed to practise democracy, especially as leaders, lack the liberal democratic culture. For as the radical social scientist, Claude Ake, famously said you could not practise “democracy without democrats” whether in Africa or in the West.

The idea of Afrodemocracy is reminiscent of a debate among socialists in the last quarter of the 20th Century. There were proponents of African socialism, in which class struggle might not be a primary a factor. The Tanzanian Marxist, Abdulrahman Mohammed Babu, embarked on a sharp critique of African socialism in his 1982 book, “African Socialism or Socialist Africa,” in which he argued for the intensification of class struggles on the continent for the socialist transformation of Africa.

The caption of this column today is actually a paraphrase of Comrade Babu’s book in a vastly different context. That is to say that instead of the quest for Afro-democracy, the struggle of democratic forces should be to deepen democracy as a universal political culture practised in the African context.

Among other things socio-economic justice and popular control of political structures are some of the ingredients needed to improve the democratic content of African polities.

Rather than advocate for a nebulous African democracy, forces of genuine freedom should struggle for a democratic Africa.

The Summit condemned in strong terms Israel’s ongoing military offensive in Gaza, calling for an immediate halt to all Israeli military operations.

The Summit also asked the UN Security Council to “adopt an immediate resolution condemning Israel’s barbaric destruction of hospitals in the Gaza Strip, the prevention of the entry of medicine, food and fuel into it, and the cutting-off of electricity, water supply and basic services, including communication and internet services, being a collective punishment that constitutes a war crime under international law.”

Earlier, at the Saudi-African Summit, President Tinubu had reiterated Nigeria’s position, which is an insistence on an immediate ceasefire, and the implementation of a peaceful resolution to the crisis. The President is determined to ensure that Nigeria’s voice is heard on all key issues affecting the world; a Nigeria that is bold and vocal about what it desires, in all areas.

A little over a week after the Saudi trip, President Tinubu was again on the move, this time to Berlin, Germany, on the invitation of German Chancellor Olaf Scholz, to attend the G20 Compact with Africa (CwA) Conference, on November 20, 2023. To better appreciate the importance of the relationship, it should be remembered that Germany and Nigeria share the distinction of being the continental economic giants of Europe and Africa respectively.

For President Tinubu, it was yet another Chief Marketing Officer (CMO) opportunity. First, he was on a panel that discussed the theme, “Fostering local value chains and investments in Africa – The role of the German private sector”, where he noted that since his assumption of office, “we have embarked on transformative changes, removing all obstacles hindering businesses.”

Then he attended a Bilateral Meeting with Chancellor Scholz, following up on the Bilateral Meeting that they held just three weeks ago, when the Chancellor was in Abuja on an Official Visit.

The two leaders further discussed infrastructure (energy and rail), mining, manufacturing, and curbing illegal migration. President Tinubu also met with Germany’s President, and Head of State, Frank-Walter Steinmeier.

To cap it all, President Tinubu hosted and presided over a German-Nigerian Business Forum, just as he had done in Saudi Arabia. Two major MOUs were signed on this occasion: the first one between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany, on a gas export partnership that will see Nigeria exporting around a million tonnes of LNG per annum to Germany, while the other one was between Union Bank of Nigeria and DWS Group on cooperation in renewable energy, valued at $500m.

The President reminded the audience of his solid track record, both in the private and public sectors, which has prepared him for this assignment leading one of the most important emerging economies in the world. “‘You can rely on us; we can rely on you; both of us can chorus Hallelujah at the same time,” he declared.

Very similar emphatic concluding words, to his declaration at the Saudi-Nigeria Business Roundtable, after listening to various pitches and presentations from the Saudi businesses present: “I am determined to be your partner in progress and prosperity. Nigeria will reward your faith. Our people are ready, and we will not disappoint!”

Powerful words that should make every Nigerian proud.

•Mohammed Idris, Minister of Information and National Orientation

Tinubu Takes Renewed Hope to S’Arabiaa, Germany Security and Military Affairs; Economic, Trade and Investment Affairs; Cultural and Educational Affairs; and Humanitarian and Health Affairs. These Working Groups are expected to commence work within the next six months.

Two important engagements happened on the sidelines of the Summit, which are very crucial to the economic development of Nigeria, and to the realization of President Tinubu’s Renewed Hope Agenda.

The first engagement was a bilateral meeting between the President and the Crown Prince of the Kingdom, His Royal Highness Mohammed bin Salman bin Abdulaziz Al Saud, on Friday November 10. Two very beneficial Saudi pledges to Nigeria emerged from this bilateral meeting, which I was privileged to attend: the first was a pledge that Saudi Aramco will invest in the revamp of Nigeria’s state-owned oil refineries, with a view to ensuring completion within three years, while the second was a pledge to support the Central Bank of Nigeria’s ongoing reforms by making available a substantial dollar-denominated deposit to boost forex liquidity.

These are two transformational investments that will go a long way in stabilizing and strengthening President Tinubu’s economic reform agenda, and help fast-track the journey towards reaping the full benefits of these reforms. In addition, the Saudi Government pledged to invest in agriculture and food security in Nigeria, as well as public infrastructure; two of the many areas in which it has recorded laudable domestic successes.

The second Presidential engagement was the Nigeria-Saudi Investment Roundtable, which the President chaired himself, just as he did with the Nigeria-India Business Roundtable in New Delhi in September, on the sidelines of the G20 Summit hosted by India. The President has always shown his determination to be a hands-on leader, and he utilizes every available opportunity to send this message out to the world.

The Roundtable was attended by a high-powered Saudi delegation, including the Ministers of Trade and Investment, and of Commerce, as well as several Saudi business leaders drawn from a wide range of sectors. On the Nigerian side, in addition to Mr. President, there were also Cabinet Ministers, including my colleagues in the Ministries of Finance; Budget & Economic Planning; Industry, Trade & Investment; Solid Minerals; Communications, Innovation & Digital Economy; Agriculture; Humanitarian Affairs & Poverty Alleviation, and Petroleum Resources (Oil).

Subnational Governments were represented by

President Bola Tinubu the Governors of Bauchi, Niger and Katsina States, while the private sector had leaders like Alhaji Aliko Dangote (Dangote Group); Gilbert Chagoury (Chagoury Group); Mr. John Coumantaros (Flour Mills of Nigeria) and Mr. Wale Tinubu (Oando) in attendance.

Again, at this Roundtable, President Tinubu reiterated the two key messages of Reform and Openness. He said, “When I took office, I declared the immediate commencement of bold and fundamental economic reforms. We have executed them, and we sustain the reform process,” adding, “I believe in the full application of free market economics.

Your money will flow easily in and easily out.”

The following day, Saturday, November 11, the Organization of Islamic Cooperation (OIC) held an Extraordinary Summit, also in Riyadh, at which President Tinubu was represented by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and which I attended.

Wednesday, November 29, 2023

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MISSILE Ariwoola to Litigants

“In every dispute, only one party must win; and winning could come after intense legal fireworks that is transparent and based solely on subsisting laws of the land. We cannot import foreign laws to try our cases here, as some litigants would erroneously and desperately want us to do in the quest to get victory...: – Chief Justice of Nigeria Olukayode Ariwoola appealing to the public to be less litigious and be more disposed to alternative dispute resolution while declaring open the 2023/2024 Legal Year of the Supreme Court in Abuja

KayodeKomolafe The Horizon

kayode.komolafe@thisdaylive.com

0805 500 1974

African Democracy or Democratic Africa?

F

ormer President Olusegun Obasanjo’s recent advocacy for an African variety of democracy as a replacement for liberal democracy should be viewed within the wider ideological currents on the globe.

This is because of the undeniable topicality of the proposition made by the former president.

The liberal democratic order is actually in retreat; it is prone to ideological and political assaults from virtually every continent. This finds expression in Trumpism in the United States as well as the upsurge of right-wing populism in parts of Europe, Asia and Latin America. Obasanjo’s important voice should be counted as another missile on liberal democracy from Africa. Besides, there is indeed an ideological movement canvassing Afro-democracy as the antidote to Africa’s political underdevelopment In a keynote address to a forum in Abeokuta last Monday, the former President argued that the western-style liberal democracy “is not working” and suggested the alternative of African democracy.

Characteristically, Obasanjo puts the matter bluntly like this: “We are here to stop being foolish and stupid. Can we look inward and outward to see what in our country, culture, tradition, practice and living over the years that we can learn from, adopt and adapt with practices everywhere for a changed system of government that will service our purpose better and deliver.”

In short, Obasanjo is saying that “we must interrogate the performance of democracy in the West where it originated from and with us the inheritors of what we are left with by our colonial powers.”

The proposition of African democracy by Obasanjo and others should also be rigorously examined for its inherent conceptual problems.

First, it is important to give Obasanjo his due so as

Obasanjo to have proper background to his present posture as a reluctant democrat now seeking intellectual refuge in Afrodemocracy. Although an authoritarian streak runs through his politics, Obasanjo has always been quite at home with ideas. That is when he is not encumbered by the pettiness of his politics,

some of his critics would probably say.

As military head of state in the late 1970s, Obasanjo earned the reputation of being receptive to ideas from some the nation’s best scholars, public intellectuals and technocrats who were close to the seat of power. On leaving power, he became a fellow in the Institute of African Studies at the University of Ibadan. He also established the African Leadership Forum to which statemen and leaders of thought from different parts of the world were invited as guests to his base in Otta, Ogun State. The Forum published the synopses of its proceedings, which were well-received in many respectable quarters.

Obasanjo is the author of a number of books, some of which have provoked enormous controversies.

In particular, the controversy generated by one of Obasanjo’s books, “Constitution for National Integration and Development,” is worth recalling for the purpose of this discussion of Afrodemocracy.

The book is essentially a manifesto for building a one-party state. Obasanjo’s intervention came amidst the political transition programme of President Ibrahim Babangida’s military regime. Babangida was working towards the creation of two parties by the state; one “a little to Right” and the other “a little to the Left.” Progressive politician and publisher, Arthur Nwankwo, responded to the publication of Obasanjo’s book arguing vigorously against the idea of a one-party system with all its jack-boot implications. The late Chancellor of the Eastern Mandate Union, Nwankwo, saw through Obasanjo’s formulation and concluded that it was a recipe for dictatorship in the Nigerian bourgeois setting. The exchanges between Obasanjo and Nwankwo were later published by the latter in a 219-page book entitled “Before I die.” The combative book is a compilation of some intellectual fireworks. In

one of the replies to Nwankwo, Obasanjo wrote intriguingly: “Utilizing a Marxist methodology to proffer a critique of work informed and instructed by a non-Marxist paradigm is a form of mental laziness and the avoidance of a rigorous and balanced mental exercise.” Obasanjo is, of course, decidedly right-wing in his views. Apart from writing books, he has engaged in spirited intellectual engagement with other personalities with the instrument of letter writing in the course of his illustrious career. A recent book by the editor-in-chief of the online newspaper “Premium Times”, Musikilu Mojeed, is entitled “The Letterman: Inside the ‘Secret’ Letters of former Nigerian President, Olusegun Obasanjo.” It is a story of Obasanjo’s letter writing spanning decades.

Now, the proponents of African democracy as a cure to whatever deficits detected in liberal democracy seem to miss one point. The point is the universality of the core values and traditions which provide the ideological fibre for the liberal democratic system in any part of the globe. This, of course, is not in contradiction with the fact that the practice of liberal democracy has its national and even racial flavours in different parts of the world.

The fundament of liberal democratic culture is as universal as the wearing of Jeans and T- shirts or using mobile technology. Advocating African democracy in a country with a predominantly youth population is like persuading members of the Generation Z that the social media is an imposition by the West on Africans or that bankers being in smart suits at work was forced on Nigeria by the colonialists.

That would be a Sisyphean exercise by anybody to undertake in the 21st Century.

Instead of such fantasies, however, the contemporary Continued on page 39

MohammedIdris guest columnist

Tinubu Takes Renewed Hope to S’Arabia, Germany

Mohammed Idris

P

resident Bola Ahmed Tinubu has again demonstrated his seriousness about charting a sustainable course for Nigeria’s prosperity, using the tool of foreign policy and engagement. On his second trip to the Middle East as President, he attended the Saudi-African Summit convened by the King of the Kingdom of Saudi Arabia, and Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, on Friday, November 10, 2023.

President Tinubu joined other African leaders in the discussions, that centered on strengthening longstanding relations with a country that has successful translated its wealth of natural resource into solid economic and geopolitical standing on the world stage.

From the Nigerian perspective, there is no doubt a lot that we can learn from and partner with Saudi Arabia on, starting with their successful efforts in diversifying an economy that has historically relied almost exclusively on oil and gas. In recent years, Saudi Arabia has demonstrated great seriousness

President Bola Tinubu towards building a post-oil economy that is also a world leader in the green economy, charting a path that Nigeria can follow in.

Nigeria and Saudi Arabia have a long and robust diplomatic history, dating back six decades. In 2003, we established a Binational Commission, and in 2019 agreed to establish a Joint Business Council, which President Tinubu is now very keen to make an immediate reality.

Saudi Arabia has also over the decades been active in humanitarian and philanthropic interventions in Nigeria, through such institutions as the King Salman Humanitarian Aid and Relief Centre. President Tinubu made sure to express gratitude to the King in this regard, while also acknowledging the efforts of Nigerian professionals who are contributing to the Saudi economy in various sectors, including medicine and sports.

Speaking at the Summit, President Tinubu alluded to the evolving nature of the relationship between the two countries. He said, “Within the past six decades, our bilateral cooperation, which was initially hajj-centric, has witnessed diversification to cover a number of areas of common interest.”

The President seized the occasion to highlight two very important messages which he has always

stressed in his engagements with foreign governments and businesses: the bold economic reforms—in the areas of petrol subsidy and foreign exchange management—that he wasted no time introducing upon assumption of office, and the fact that, under his watch, Nigeria is fully open for business and investment, and will do everything to protect the sanctity of all domestic and foreign investment.

These are two of the key planks upon which the lasting social and economic prosperity of Nigeria will be built. The first one will free up significant amounts of resources for investment in infrastructure, social investment and food security, while the second one will attract the capital required to build a globally competitive economy.

Everywhere the President has been, abroad, and even at home, he takes the pains to emphasize and reiterate these two foundational messages, an affirmation of his belief in the fact that as President, he is the Chief Marketing Officer (CMO) of Nigeria.

At the end of the Summit, the leaders agreed to set up Working Groups in the areas of Politics, Continued on page 39

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