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Port Congestion: NPA Moves to Take over APM Operations Writes company’s HQ in The Hague 30-day ultimatum expires this week Eromosele Abiodun Barring any last-minute development, the Nigerian Ports Authority (NPA) will this week take over the operations of AP Moller Terminals

(APMT) after the expiration of the 30-day ultimatum given to the firm by NPA to address inefficiency at its terminal, which has resulted in port congestion and Apapa gridlock, THISDAY has learnt.

NPA has also written AP Moller’s parent company in The Hague, Netherlands, expressing its frustration about the inadequacy of cargo handling equipment at APM Terminals.

It has also threatened that it would not hesitate to bring to fore the non-compliance clause in the 2006 port concession agreement to protect the interest of the port users. The clause empowers NPA

to take over the operations of APM in the event of its failure to meet the terms of the concession agreement. The ultimatum, which was given to the company last month, would expire this

week following which the NPA will take over the operations at the terminal APMT is the biggest container terminal in West Continued on page 12

NCC Deactivates Additional 2.2m SIM Cards for Improper Registration...

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Buhari Consults Stakeholders, Decides on Proposed APC NEC Meeting Today South-south leaders back embattled Oshiomhole Adedayo Akinwale in Abuja President Muhammadu Buhari will today make a final decision on the meeting of the National Executive Committee (NEC) of the All Progressives Congress (APC)

scheduled for Tuesday next week, a competent presidency source told THISDAY last night, saying although the president sanctioned the meeting, constitutional issues raised around it have made him to seek clarification from

relevant stakeholders. The acting National Secretary of the party, Mr. Victor Giadom, had last week issued a notice of meeting of the second highest organ of the APC for March 17, to discuss raging issues affecting the

party, including the suspension of the National Chairman, Mr. Adams Oshiomhole, by an Abuja High Court. Although Oshiomhole had dismissed the court ruling as ineffectual, waving a counter court ruling from the Federal

High Court, sitting in Kano, which asked all parties in the crisis to revert to status quo ante bellum, Giadom and the National Vice Chairman, North-east, Mr. Mustapha Salihu, had insisted that the suspension of the national

chairman subsisted. But three other national officers: National Publicity Secretary, Mr. Lanre IssaOnilu; National Legal Adviser, Mr. Babatunde Ogala; and Continued on page 12

Coronavirus Crashes Oil Price to $30, Halves Nigeria’s Revenue Projection Nigerian tests positive to coronavirus in US NCDC moves to test suspected cases Omololu Ogunmade in Abuja, Martins Ifijeh in Lagos and Yinka Kolawole in Osogbo As Coronavirus (COVID-19) maintains its spread to more countries, forcing lower demand for crude oil and attendant push for production cuts to stabilise prices by the Organisation of Petroleum Exporting Countries (OPEC), the black gold’s price plunged 30 per cent in early trading last night following the failure of OPEC to strike a deal with its allies on production cuts. The deal’s collapse sparked fears of a price war as Saudi

Arabia slashed its oil prices and reportedly gets set to boost production. Before the disagreement between OPEC and its allies, oil prices had dropped sharply this year as the coronavirus outbreak has led to softer demand for crude. International benchmark Brent crude futures plummeted 30 per cent to $32.05 per barrel, while the United States’ West Texas Intermediate dropped 27 per cent to $30 per barrel, its lowest level since February 22, 2016. Continued on page 12

Ihedioha Breaks Silence, Says God will Render Ultimate Judgment.. Page 8

SIXTY-THREE HEARTY CHEERS... Vice President Yemi Osinbajo (left) receives a birthday day card from policemen attached to his office in Abuja...yesterday

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

NCC Deactivates Additional 2.2m SIM Cards for Improper Registration Emma Okonji In order to ensure that all registered Subscriber Identification Module (SIM) cards are traceable to their real owners, in the event of doubt or suspicion, the Nigerian Communications Commission (NCC), the telecoms industry regulator, has said it has successfully deactivated the remaining 2.2 million improperly registered SIM cards across the networks of all telecom operators. The recent cleansing of Mobile Network Operators (MNOs) from every trace of improperly registered SIM cards on their networks was part of the federal government’s resolve to sanitise the telecoms industry in order to address the rising insecurity situation in the country, fueled by people who use unregistered

and improperly registered SIM cards to indulge in criminal activities. Following the September 2019 ministerial directive, the NCC, intensified efforts by reducing the number of improperly-registered SIM cards from 9.2 million to 2.2 million, before the recent final cleansing of the networks. The Executive Vice Chairman (EVC) of NCC, Prof. Umar Danbatta, who made the disclosure in a statement issued yesterday in Abuja said: “By our records, all improperly-registered Subscriber Identification Module (SIM) cards across Mobile Network Operators (MNOs) in Nigeria have been completely deactivated. The commission’s effort in this regard is in line with one of the key agenda of President Muhammadu Buhari to strengthen the security of lives

and property for all Nigerians." Danbatta said over the years, the NCC had worked with determination and through various policy initiatives, to rid mobile networks of improperly or invalidly-registered SIM cards to ensure that all the current over 184 million registered SIM cards/mobile lines across MNOs’ networks have valid data that are traceable and not anonymous. According to him, "Our efforts received a boost, following the implementation of a September 12, 2019, ministerial directive that the NCC should compel service providers to block all improperly-registered SIM cards, pending when their owners regularise their registration. "As at the time the ministerial order was issued, the commission, through its compliance monitoring and

enforcement team had reduced the number of improperlyregistered SIM cards on mobile networks in the country to 9.2 million. "As part of the commission’s ongoing regulatory interventions such as the setting up of the SIM Registration Industry Task Force, which led to several resolutions including the Industry Working Group (IWG) on harmonisation of SIM registration process with the National Identity Management Commission (NIMC) to ensure a clean SIM database, the commission had, in June 2019, commenced the second round of comprehensive verification audit of MNOs’ SIM card registrations. This audit exercise was concluded in August 2019. The audit was specifically to ensure strict adherence by telecom

operators to the provisions of the Telephone Subscribers Registration Regulations 2011." Danbatta in a statement, further said: “We have since initiated the second phase of SIM deactivation based on the ministerial directive and as at today, we have completely deactivated the remaining 2.2 million lines on the networks. This is contrary to reports by a section of the media, suggesting that nothing has been done with respect to the issue of improperly-registered SIM cards.� Danbatta assured all stakeholders that the commission would continue to aggressively pursue the national objectives of delivering an accurate database of telephone subscribers in Nigeria, stating that the SIM data submitted to the commission is constantly

being validated for higher efficiency to support the national security objectives of the SIM registration exercise through NCC’s zero tolerance for deviations from the proper registration process. “I also use this opportunity to restate the commission’s commitment to the periodic SIM data audit, continuous compliance monitoring exercise on the MNOs, as well as constant consumer education and engagement against using improperly-registered SIM cards. With this, we would be able to collectively address national security concerns, especially kidnappings, banditry, armed robberies, cattle rustling and other crimes associated with SIM cards across the nation and to ensure that all SIM cards are traceable to their real owners,� Danbatta added.

Senate Holds Public Hearing on Anti-social Media Bill Today Afenifere, NUJ, NGE, others kick Deji Elumoye in Abuja The controversial anti-social media bill introduced at the Senate last November received bashing from various groups and bodies at the weekend as the upper legislative chamber holds a public hearing on the bill today. The bill, entitled "Protection from Internet Falsehood and Manipulation Bill," sponsored by Senator Musa Mohammed (Niger East) passed through second reading in January before being referred to the Senate Committee on Judiciary and Legal Matters headed by Senator Opeyemi Bamidele, which has scheduled its public hearing for today in Senate Committee Room 022 by 11 am. Among those invited to grace the public hearing are socio-cultural groups like Afenifere, the Nigerian Guild of Editors (NGE), Nigeria Union of Journalists (NUJ) and Civil Society Organisations (CSOs), who at the weekend reiterated their opposition to the bill, saying there was absolutely no need for the bill. Spokesman of the Yoruba socio-cultural group, Afenifere, Mr. Yinka Odumakin, told THISDAY, that the group will not be part of the public hearing meant to scuttle the rights of Nigerians to air their views. According to him, "It is nauseating that those who are furthering the agenda of terrorists by considering a bill to create an agency for terrorists would want to criminalise speech by those who carry no weapons other than their tongues. He emphasised that as far as Afenifere is concerned, "they are only waging war against open society while encouraging the spread of terror by pampering terrorists with an agency." The Nigerian Guild of Editors stressed that it would continue to oppose the provisions of the bill and the bill in its entirety. NGE President, Mr. Mustapha

Isah, told THISDAY that supporting the bill would be tantamount to encouraging illegality. He stressed that there was no reason in the first place to propose that bill "as we already have existing laws to check the issue of fake news." Isah said there are similar provisions in the nation's criminal code that clearly addressed some of the issues raised in the bill, adding that "the basic problem is enforcement, if enforcement can be carried out to the letter, they will see that there is no need for another law to gag the internet." Also speaking, NUJ President, Mr. Chris Isiguzo, stated that the union did not subscribe to the anti-social media Bill and will continue to oppose it. He said the union will present its position against the bill at today's public hearing. The CSOs numbering over 100 had also made public their opposition to the bill. A total of 110 Civil Society Groups had at a meeting in Abuja last week rejected the Senate's move to hold a public hearing on the contentious anti-social media Bill. Mrs. Bukky Shonibare of Girl Child Africa, who spoke on behalf of the CSOs, said the bill is a resuscitation of an obnoxious bill that had been hitherto unanimously rejected by the people. She said it has been affirmed severally in various courts of law that the right to freedom of expression is a constitutional and fundamental right inviolable under the 1999 constitution of the Federal Republic of Nigeria (as amended). The bill, which seeks protection from internet manipulation and falsehood, prescribes a three year jail term and N10 million fine for individuals and corporate organisations that breach its provisions when signed into law.

REPOSITIONING FOR POWER... L-R: Enugu State Governor, Chief Ifeanyi Ugwuanyi; Ebonyi State Governor, Chief David Umahi; and former Deputy Senate President, Senator Ike Ekweremadu, during the South-east zonal meeting of the Peoples Democratic Party in Enugu‌yesterday

N2.9bn Car Loan Request in Order, Diri Insists Says lawmakers, judges are beneficiaries Nseobong Okon-Ekong The Bayelsa State Governor, Senator Douye Diri, has defended his request to the state House of Assembly for a loan facility of N2.9billion, which was last week granted by the legislature. Speaking with journalists in Lagos at the weekend, Diri justified the request, saying contrary to insinuation in the public, the money was meant to purchase vehicles for senior government officials, members of the House of Assembly and judges in the state judiciary. He said the process of securing the loan had been made transparent as part of the commitment of his administration to run a transparent and accountable government. Diri explained that the state was not as rich as people insinuate. According to him, even though the state could be

sitting on rich oil resources, its government had no control over the reserves. He, therefore, called for a review of the 13 per cent derivation to oil-producing states. "For instance, the last allocation that came to Bayelsa State was short by N2 billion from the previous month's allocation. So, we are saying let us benchmark based on what we have. That explains why states are looking out for loans. "We are not as rich as people think we are. A lot of people believe Bayelsa is a rich state but truly we are not. I don't blame anybody who says that because our country runs on oil and the oil reservoir is in Bayelsa. We are like a people bathing inside the water but soap is entering into our eyes and we are looking for water from the bucket to wash our eyes." The governor contended that there was a need to

take another critical look at the revenue allocation and derivation formula, saying the oil-producing states do not get the 13 per cent of derivation that is on paper. "We don't even know 13 per cent of what is being given to us. I urge my brother governors (of the oil-producing states) that we should actually look at it. The Constitution says a minimum of 13 per cent and we have been running on that minimum from the beginning till today. So why have we not been able to review the 13 per cent like we are reviewing minimum wage?" On his victories at the Supreme Court, the Bayelsa helmsman said God virtually came down from heaven on the day the apex court gave its verdict on the governorship tussle. Diri recalled how he and his deputy fasted for three weeks before the February 13 judgment.

"If you ask what was going through my mind; it was: ‘Is God this real? From that day, I now believe that God works miracles. That is the reason I have christened myself the Miracle Governor." He restated his call on the opposition to join hands with him on the task ahead of developing the state. He said he has also advised the leadership of the party to set up a reconciliation committee to unite aggrieved members of the Peoples Democratic Party (PDP). "I have extended the olive branch of peace to members of the opposition. If they come, my government will accommodate them. Where possible we would even give appointments to them." He said the violence unleashed on the state after the Supreme Court judgment was triggered by the inflammatory statements of leaders of the opposition in the state.

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Ihedioha Breaks Silence, Says God will Render Ultimate Judgment Ejiofor Alike The immediate past Governor of Imo State, Hon. Emeka Ihedioha, has broken his silence on the refusal of the Supreme Court to reverse his removal as the governor of the state, insisting that whatever might be the personal injury he suffered as a result of the miscarriage of justice, his main concern has always been the implications of the judgment on the future of Nigeria’s democracy and the right of the electorate to have their votes count. In his message to the people of the state yesterday, Ihedioha told those who are rejoicing about what he called their successful political fraud at the expense of Imo people that: “We believe that God will render the ultimate judgment.� He also took solace in the words of the late Dele Giwa that: “No evil deed will go unpunished; any evil done by man to man will be redressed; if not now then certainly later; if not by man, then by God for the victory of evil over good is temporary.’ Ihedioha argued that if the institutions that are critical to the entrenchment of the rule of law could thwart the wishes of the people in a cynical manner, the future of democracy is uncertain. He noted that the wellarticulated dissenting judgment delivered by Justice Centus Nweze, had vindicated his stand, adding that history and posterity would be kind to the Supreme Court justice. “To those who are rejoicing

about their successful political fraud at the expense of Imo people, as well as their collaborators, let me leave them with the immortal words of the late journalist, Dele Giwa: “No evil deed will go unpunished; any evil done by man to man will be redressed; if not now then certainly later; if not by man, then by God for the victory of evil over good is temporary.’ We believe that God will render the ultimate judgment. He has been with us through this peaceful struggle. And our future is in His hands,� he said. He said the ruling by the Supreme Court rejecting the application to set aside its earlier judgment of January 14, 2020, was not the outcome his team worked so hard for and informed the people of the state that he knew how disappointed they felt. “While it is disheartening to note that your desire to introduce good governance has been halted, at least for now, it is also gratifying that our modest efforts have not gone unnoticed. I, therefore, feel a sense of pride and gratitude for the wonderful energy and commitment that we deployed together to secure the mandate that has now been brazenly stolen from us,� he added. He thanked all those who played one role or another in this historic quest for justice and truth. Ihedioha also thanked members of the diplomatic community for voicing their concerns for the stability of the country. Ihedioha commended the

chairman and members of the Peoples Democratic Party (PDP) for their vanguard role and leadership during this period. He also thanked all Imo citizens for their uncommon support, solidarity, and collective outrage, saying never have a people been so united and committed to a cause. “You prayed, fasted, marched, protested and even cried. You sacrificed your time, resources, and endeavour for this just cause. On this matter, the people of Imo State collectively rose to demand

justice and fairness. Imo people rose up in defence of their right to elect leaders of their choice. Our people resoundingly rejected oppression and power grab, defied imposition, injustice, and tyranny. I salute Imo people for this display of courage in the face of oppressive state power,� he added. He also added that he would forever be indebted to Nigerians of all walks of life, across ethnic, religious and political divides, senior citizens, journalists, civil societies, ordinary men and

women of good conscience, who added their voices to condemn the injustice done in his case. “These are people unknown to me personally but who could not bear the illogic of turning number four to number one on the basis of a fraudulently procured result, and appealed to the Supreme Court to save itself and our judiciary,� he said. He lauded the contributions of the members of his legal team, who pushed the frontiers of electoral jurisprudence to advance the country’s constitutional

democracy. Ihedioha also thanked his team of committed colleagues, who served in various capacities in his administration. “It has been a great privilege to serve the people of Imo State as governor. I am proud to have been the recipient of their genuine mandate. I will forever cherish the support, solidarity, and cooperation given to me during my tenure. My belief in the ultimate triumph and supremacy of the will of the people remains intact,� he added.

EVENING WITH MARKETING GURUS... L-R: Convener, Integrated Marketing Communication Industry Evening, Mr. Goddie Ofose; Chief Press Secretary to the Lagos Governor, Mr. Gboyega Akosile; and Principal Consultant of ADSTRAT Branding Management Consortium, Mr. Charles O'Tudor, during the IMC Industry Evening with Goddie Ofose in Ikeja‌yesterday

ASUU Mobilises Members for ‘No Pay, No Work’ over IPPIS Holds emergency NEC meeting to strategise Seriki Adinoyi in Jos, James Sowole in Akure, Victor Ogunje in Ado Ekiti, Hammed Shittu in Ilorin, Onuminya Innocent in Sokoto, Francis Sardauna in Katsina and Wole Ayodele in Jalingo The Academic Staff Union of Universities (ASUU) has commenced nationwide mobilisation of its members for a ‘no pay, no work’ action, should the federal government withhold the February salary of their members who refused to enroll on the Integrated Payroll and Personnel Information System (IPPIS), THISDAY’s investigation has revealed. ASUU had rejected IPPIS and proposed University Transparency and Accountability Solution (UTAS). THISDAY gathered that the union is holding emergency National Executive Council (NEC) meeting in Enugu to finalise strategies on how to implement the looming industrial action. The planned withdrawal of their services followed a threat by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, that university lecturers who refused to enroll on the IPPIS would not be paid February salary. The minister, who spoke at the opening of the 2020 Management Retreat for Treasury Directors of Finance and Directors of Internal Audit in Kano on Thursday said that 55 per cent of the varsity teachers’ have so far been enrolled.

“Unfortunately, most reforms that you undertake, you come across resistance. We have had resistance from ASUU on the implementation of the IPPIS and I am happy to report that at least, up to 55 per cent of ASUU members are registered and the ones that are not registered are not getting their February salary,� the minister reportedly said. However, ASUU leaders, who spoke to THISDAY from their NEC meeting at Enugu, acknowledged that their members have not been paid their salaries for February, pointing out that the development was not peculiar to ASUU members. They disclosed that both academic staff and non-academic staff, including those that enrolled on IPPIS have not been paid. The union leaders said they have mobilised their members for “no pay, no work� action if the federal government pays other university workers and withhold the salaries of ASUU members. The Chairman of the Federal University of Technology, Akure (FUTA) branch of ASUU, Dr. Olayinka Awopetu, told THISDAY that the union would invoke the International Labour Organisation (ILO) agreement to which Nigeria is a signatory. He said: "If the salary is not paid, the union will invoke the International Labour Organisation (ILO) Agreement to which Nigeria is a signatory. The agreement is that if somebody is not paid his salary/ wages within 48 hours of the new

month, he can declare ‘no pay no work’ rule to withdraw his services. "Today is March 7, we have worked for February, which ends on 29; so, the government has run foul of the convention.� The Federal University, Oye Ekiti chapter of ASUU, has also promised to apply ‘no pay, no work’ rule as soon as it gets a clear signal that the government is not prepared to pay the salaries of members opposed to IPPIS. The academic body said both its members who did not enroll on IPPIS and the non-academic staff, who had fully complied with the presidential order, have not been paid their February salaries, in FUOYE. The ASUU Vice Chairman, Dr. Habibat Adubiaro , said the academic staff will embark on strike to fight the federal government immediately they get a clear signal that their salaries have been withheld. "As of now, we have not got a clear signal whether we will be denied our salaries because of our refusal to be captured by IPPIS as the non-academic staff, who had all registered have not been paid for February. "We have held a meeting that immediately we sense that we are not likely to be paid that we should apply ‘no-pay, no work’ rule to fight the government,� he said. The Chairman of University of Ilorin branch of ASUU, Prof Salihu Moyosore Ajao has also threatened that, if the salaries of their members for February

are not paid when those of the non- teaching staff are paid, ASUU would proceed on its suspended strike action of "no pay, no work". Speaking with THISDAY on the threat of the federal government that no member of the ASUU that failed to enroll on IPPIS would be paid for February salary, Ajao described it as an empty one that would not have any effect on the members of the union across the nation's universities. He said: "Such a threat is a serious danger to the educational advancement of the university system and it would not take the nation anywhere." The Chairman of the Usmanu DanFodiyo University, branch of ASUU in Sokoto, Dr. Sabo Yabo, also told THISDAY that though the universities’ lecturers have not received their February salaries, the non-payment is not only peculiar to ASUU members. He added that the nonacademic staff and lecturers of federal colleges of education and polytechnics have not also been paid. Yabo disclosed that currently, the union is having an emergency NEC meeting at Enugu, saying the outcome of the meeting will determine the next line of action. He disclosed that if the federal government fails to pay even one member of ASUU as a result of non-enrollment on IPPIS, the union will embark on an indefinite strike. Also, the Chairman, University of Jos chapter of ASUU, Dr.

Lazarus Maigoro, has confirmed that the lecturers in his University have not been paid February salary. He told THISDAY that his branch is now waiting for directives from ASUU national secretariat on the next line of action. Maigoro said: "We have not been paid February salary in Unijos. We are waiting for the decision of ASUU national Secretariat over the lack of payment of salary.� The Chairman of the Federal University Dutsin-Ma (FUDMA) of ASUU in Katsina State, Mr. Yahaya Muhammed, said both academic and non-academic staff of the university has not been paid their February salary. "We have not been paid our February salary, nobody, both academic and non-academic staff. So, we are waiting for an update or directive from the national secretariat of the union for the next line of action." He lamented what he termed insincerity on the part of the federal government ever since the IPPIS saga began, insisting that regular threats by the government would not deter them from pursuing their legitimate rights. Similarly, the Sokoto zonal Coordinator of ASUU, Mr. Jamilu Shehu, confirmed that all lecturers in the five universities under his watch were yet to receive their February salary despite the agreement reached between the federal government and the union. He explained that states'

branches of the union were awaiting directive from the union's national headquarters for the next line of action. The Sokoto zonal office of the union includes Umaru Musa Yar'Adua University, Katsina; Federal University Dutsin-Ma, Katsina; Usmanu Danfodiyo University, Sokoto; Sokoto State University; and Kebbi State University of Science and Technology, Aliero. However, the Chairman of the Ahmadu Bello University (ABU), Zaria chapter, of ASUU, Prof. Rabiu Nasiru, said the union was not bothered about threats by federal government to stop the salaries of ASUU members who did not enroll on IPPIS. "All I can say is that we are used to such threats by the government, this is not the first time they are issuing such threats. When we reach the bridge, we will cross it," he said. The Chairman of ASUU, Federal University of Wukari (FUW) chapter, Prof. Kidzu Oweh, told THISDAY that the NEC of ASUU will give an appropriate response. He further revealed that ASUU members, who registered on the IPPIS platform in disregard to ASUU directive, would appear before the disciplinary committee and those found guilty would lose their Earned Academic Allowances (EAA). He, however, maintained that whatever steps that would be taken by ASUU would depend on the outcome of the ongoing meeting of the NEC of ASUU.

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PAGE TWELVE CORONAVIRUS CRASHES OIL PRICE TO $30, HALVES NIGERIA’S REVENUE PROJECTION It will be recalled that when the price of oil slumped to $27 per barrel in February 2016, it plunged Nigeria into recession. The current sharp drop in oil price will also threaten the implementation of the 2020 budget. Nigeria’s 2020 budget of N10.594 trillion was predicated on the daily oil production rate at 2.18 million per barrel, and benchmark price to $57 per barrel. Unless in the unlikely event of production jumping above 3million barrels per day to offset the price drop, the country will not be able to fund its 2020 budget. However, after the initial drop the losses were pared somewhat, with each contract trading down slightly more than 21 per cent. While Brent recovered at $35.40 per barrel, WTI traded at $32.17 per barrel. On Thursday, OPEC recommended additional production cuts of 1.5 million barrels per day starting in April and extending until the end of the year.

The proposal was conditional on support from non-OPEC producers, including Russia. OPEC cautioned that the deal could only be applied on a prorata basis with core members set to cut 1 million barrels per day and non-OPEC partners expected to cut 500,000 barrels per day. But OPEC ally Russia rejected the additional cuts when the 14-member cartel and its allies, known as OPEC+, met on Friday. The meeting also concluded with no directive about the production cuts that are currently in place, but set to expire at the end of the month. On Saturday Saudi Arabia announced massive discounts to its official selling prices for April and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to a Reuters report. The kingdom currently pumps 9.7 million barrels per day, but has the capacity to ramp up to 12.5 million barrels per day. “We believe the OPEC and Russia oil price war unequivocally

started this weekend when Saudi Arabia aggressively cut the relative price at which it sells its crude by the most in at least 20 years,� Goldman Sachs said in a note to clients. “The prognosis for the oil market is even direr than in November 2014, when such a price war last started, as it comes to a head with the significant collapse in oil demand due to the coronavirus,� the firm added. Goldman cut its second and third quarter Brent forecast to $30 per barrel, and said that prices could dip into the $20s. Saudi Arabia’s price cut followed a breakdown of talks in Vienna last week. Analysts say Saudi Arabia is encouraged by its low marginal cost of production put at US$8.98 per barrel, which is the lowest in the world, while the highest is in the United Kingdom at US$44.33. Nigeria at $30 per barrel for deep water and $15 for onshore production, they say, would be badly hurt by a price war. According to the analysts, Saudi

Arabia’s low oil production costs derive from three advantages: abundant pools of oil close to the surface and the sea, public ownership and no taxes on production. With this, they say, it can make money in almost any oil price environment. With this disagreement, oil prices plunged more than 10 per cent on Friday, with WTI sliding 10.07 per cent, or $4.62, to settle at $41.28, its lowest level since August 2016. It was WTI’s worst day since November 28, 2014. Brent had also slid 9.4 per cent to settle at $45.27 per barrel. Meanwhile, the cartel and its allies agreed to meet again to monitor the situation. The current production cuts will be in place until the end of March as planned, but it’s uncertain if they will extend beyond this month. Russian Energy Minister Alexander Novak told reporters leaving the meetings in Vienna on Friday that it meant that members could now pump what they liked starting April 1.

“We have made this decision because no consensus has been found of how all the 24 countries should simultaneously react to the current situation. So as from April 1, we are starting to work without minding the quotas or reductions which were in place earlier but this does not mean that each country would not monitor and analyse market developments,� he said. CNBC reported that this effectively means that producers will soon have free rein over how much they pump.

Nigerian Tests Positive to Coronavirus in US In another development, a Nigerian has tested positive to Coronavirus (COVID-19) in the United States, according to the Mayor of Washington DC, Muriel Bowser. In Nigeria, the Nigeria Centre for Disease Control (NCDC) disclosed yesterday that 23 suspected cases of COVID-19 have so far been identified in Edo, Lagos, Ogun, and Kano

states, as well as the FCT, out of which one was confirmed positive “index case,� with no death. NCDC Director-General, Dr. Chikwe Ihekweazu, disclosed this yesterday while speaking with the News Agency of Nigeria (NAN) in Abuja, adding that as of March 7, there was no new confirmed case of COVID-19 in the country. The Osun State government has also embarked on the screening of foreigners at mining sites as proactive and preventive measures to forestall the spread of the virus, known as COVID-19 to the state. Announcing the Nigerian case in the US at a press briefing yesterday, Bowser said the Nigerian, who passed through the US capital city, underwent the test in Maryland and that the state had commenced contact tracing on those he met in Washington DC. Bowser had earlier announced that a man in his 50s has tested positive for Coronavirus, marking the first presumptively confirmed case in the capital. Continued on page 54

BUHARI CONSULTS STAKEHOLDERS, DECIDES ON PROPOSED APC NEC MEETING TODAY ‘National Secretary,’ Mr. Waziri Bulama, in a statement at the weekend, declared the proposed meeting unconstitutional on the ground that it was not called in line with the provisions of the party’s constitution. However, THISDAY reliably learnt last night that Buhari authorised the March 17 meeting on the strength of a written request by Giadom, asking the president for a date for NEC meeting to resolve outstanding issues plaguing the party. The president was said to have given him the date. “The party secretarial wrote a letter, requesting the president to give it a date for a meeting of NEC. March 17 was subsequently given,� the source said, adding: “In the circumstances, the president has authorised the meeting.� According to him, “It would appear, therefore, that those opposing the meeting are a challenging the authority of the president, and that matter would have to be dealt with tomorrow (today) after further consultations with relevant stakeholders.� THISDAY further learnt that upon the statement of Issa-Onilu and two others, the Minister of Justice and Attorney-General of the Federation, Mr. Abubakar Malami, was directed to look into the constitutional issues raised

and advice the president on the appropriate course of action. Meanwhile, Giadom insisted yesterday that he acted constitutionally in calling the NEC meeting, explaining that as the highest ranking member of the National Working Committee, he was authorised by the party’s constitution to summon the second highest organ of the APC. He said in a statement yesterday in Abuja that the statement issued on March 7, and jointly signed by Ogala, lssa-Onilu and Bulama was aimed at misleading members of the NEC and the general public. He explained that Article 14.4 (i) of the constitution of the party states that the Deputy National Secretary is empowered to act as national secretary in the absence of the National Secretary, stressing that all the actions taken since the emergence of the former National Secretary, Hon. Mai Mala Buni, as Governor of Yobe State were taken in his capacity as the acting National Secretary. Giadom added that by Article 14.3 (ii) of the constitution of the party and being the acting National Secretary, he has the power to issue notices of meetings of national convention, NEC and NWC meeting of the party. He stated: “For the purpose of clarity and putting the issue in proper perspective, I wish

to state that the decision to call for an emergency National Executive Committee Meeting for March 17, 2020 was taken in strict compliance with the constitution of the party. “It is on record that the erstwhile National Chairman, Mr. Adams Oshiomhole, has been suspended by a court of competent jurisdiction. The two deputy national chairmen are no longer in office. The next most senior party office should be the Secretary General of the party. But as we all know, the erstwhile National Secretary in the person of Hon. Mai Mala Buni is now the Executive Governor of Yobe State. Hence, as the Acting National Secretary, I have the constitutional power to steer activities of our great party. “This is the power I exercised on the March 6 and March 7. 2020, calling for an emergency National Executive Committee of our great party in line with Article 25 (B) (ii) of the Constitution of our great Party.� He urged the members of the NWC to attend the meeting slated for March 17, 2020, adding that it would serve as an avenue to find solutions to the present state of quagmire the party had found itself in. He argued that Bulama, who purportedly signed the document as the party's national secretary

is not a member of the NEC and NWC as his alleged nomination as national secretary of the party has no legal footing, because it failed to meet the requirements provided by Article 20(l) (a) of the party’s constitution. Also speaking yesterday, Mustapha insisted that there was no going back on the emergency NEC meeting, adding that the NWC would start sending invitation letters to NEC members today. According to him, "The party and any serious organisation are not run on the pages of newspapers and on the screen of televisions and the waves of radio; parties are run in the office. We have issued a statement and we have approval from every quarters and stakeholders that we are going to hold NEC meeting. We followed all the procedures and as we speak, we are at full swing working at the secretariat producing invitations and what have you to go round." He said NEC would soon resolve the lingering controversy over the leadership of the party. Mustapha added: "If it is confirmed that they are the ones that actually put out this communication to bring disharmony, the NEC will now take appropriate action. I don't believe they are the one, but if it is confirmed, the disciplinary

action will be taken by NEC." When reminded that the said statement was jointly signed by National Legal Adviser of the party, National Publicity Secretary and the National Secretary, Mustapha said those that signed the statement are not operating within the party, because they have not been to the party secretariat in the last week. He replied: “That's what I'm saying - these people, where are they operating from? They are not in the office; none of them came to this office. For the past week, we have not seen them in the office and we have not held any NWC meeting and decided that National Legal Adviser should sign any statement - neither did we agree at any meeting that the National Publicity Secretary should sign the nomination of one Ajimobi and other people. When we saw it, it was a shock to us. Neither did we agree that there is another person who will act as National Secretary that will even now start signing documents. "But as for us, our NEC is going on and the preparation is in full swing; we worked throughout yesterday (Saturday) at the secretariat; we left there late at night; we will work today, by tomorrow (today) letters will go round and we are operating from the office. The NEC is going

expect that as a serious investor, AP Moller terminal would have made a considerable investment in relevant port infrastructure to improve the condition of the port as inherited, and would have invested in upgrading relevant cargo handling equipment in order to boost port efficiency. “Our observations have not justified the reason for awarding you the concession, as we have not witnessed substantial investment by you in promoting port operations. This shortfall in efficiency is very glaring as there seems to be a very wide gap in your investment in Nigeria compared to your investments in our neighbouring African states, as they are better equipped and more efficient in their services.� While stating that it is not oblivious of the import of APMT in the Nigerian maritime clime, the NPA called on APMT to note the provisions of the lease agreement in Article 6.1, “where it stipulates under the general requirement that the lessee shall use its best efforts to ensure that there is no decline in the standard of the operations. “We, therefore, wish to inform you that in the event that APMT continues to fail to comply with its obligations and we do not see any change or improvement

in your overall operations, resulting in the improvement of the turnaround and cargo clearing times, we would have no option but to invoke the terms of non-compliance, as set out in Article 8.1, which states, ‘if the lessee fails to rectify its failure, the lessor may fulfill such obligation for and on behalf of the lessee at its own cost. The lessor shall then be entitled to recover such costs provided that computation of costs to be recovered shall be based on the acceptable bid from one out of three bids submitted by reputable companies in such a field of operation‌ “In accordance with the lease agreement, the authority is, therefore, issuing you a 30 days’ notice to rectify this failure from the date of receipt of this letter.â€? THISDAY gathered that the 30-day ultimatum issued on February 12 will expire this week, precisely on March 13. Also, in a letter addressed to the APMT’s parent company in The Hague, Netherlands, the NPA expressed its frustration about the inadequacy of cargo handling equipment at APM Terminals and warned that it would not hesitate to bring to fore the non-compliance clause to protect the interest of port users.

PORT CONGESTION: NPA MOVES TO TAKE OVER APM OPERATIONS Africa with an annual capacity of 1.2 million TEU (Twenty-foot Equivalent Unit). APM Terminals took over the concession at Lagos’ Apapa Container Terminal in 2006. THISDAY’s investigation revealed that the NPA decided to take action following complaints by customs agents, importers and major stakeholders in the maritime industry who warned that the congestion at the port, if not addressed urgently will lead to emergencies that the federal government may not be able to handle. Also, there has been a huge outcry over post-cost and demurrages as a result of the Apapa gridlock, which the clearing agents claimed is deliberately been fuelled by APMT for their selfish interest. Consequently, the NPA in a letter dated, January 24, 2020, warned APMT that it would no longer tolerate delays in berthing vessels at the firm’s terminal, which the NPA said has resulted in vessels waiting at anchorage for 25 days or more to discharge cargo. This delay, the NPA stated, is mainly attributed to the poor state of APMT’s cargo handling equipment and other infrastructure deployments in its

terminal. This development NPA added negates some of the fundamental problems the port concession policy was intended to address, namely: Congestion and delay in turnaround time as emphasised by the International Maritime Organisation (IMO) and several conventions to which Nigeria is a party. When THISDAY contacted the Stakeholder Manager of APM Terminals, Mr. Odibe Daniel, on the issue, he declined to comment by ignoring text messages and phone calls. NPA had reminded the company that: “In article 6.11 of the NPA-APMT lease agreement, parties agreed that APMT, ‘may use additional equipment on the premises other than the moveable assets and fixed assets and not included in the development plan, to satisfy its obligations, including without limitation of its performance of the operations and to meet the performance requirements‌ “Consequently, the authority will not condone any act which is capable of undermining the federal government’s aspiration and policies. You are hereby advised to take immediate steps to arrest and ameliorate the situation within 14 days or

it shall be treated as an event of default under article 13.1Š and sterner penalty as applicable will be invoked.� THISDAY gathered that following the expiration of the 14 days warning, the NPA in another letter addressed to the Managing Director of the firm, dated February 12, 2020 accused the company of inefficiency and disregard for the interest of the federal government and the Nigerian economy. The NPA also accused APMT of favouring neighbouring African states by deploying better equipment in those countries. The NPA in the letter stated: “I refer to our recent letter to you ref: MD/17/MF/VOL.XX/049 dated 24th January 2020, in respect of the delay in the berthing of vessels at your terminal. In the said memo, we drew your attention to our discontent in observing that vessels have to wait at anchorage for 25 days or more to berth and discharge cargo. It has become necessary to reiterate the essence of the government’s decision to concession the ports in 2005, this being to engage the private sector in the development of port infrastructure to promote operational efficiency, invest in automation of port process and enhance the economy. We

on, preparation is in full gear."

South-south Leaders Back Embattled National Chairman Joining the fray, the Vice Chairman of the party in the South-south, Mr. Hilliard Eta, has said that the APC leaders in the zone are solidly behind Oshiomhole. The zonal vice chairman in a statement issued yesterday debunked reports in a national daily that the people of the region had abandoned the embattled national chairman, adding that he is enjoying the support of the leaders of the zone contrary to reports in the media. He said: “I was surprised when I read that report that the Southsouth has abandoned Oshiomhole, that is completely untrue and being fuelled by those plotting evil against the national chairman. I am the national vice chairman of the party in the South-south zone, and I know better. The political leader of the zone, who is the Deputy Senate President, Senator Ovie Omo-Agege, was not contacted by anyone to know the position of the zone. “So, I wonder where that newspaper got its information from. As I speak with you, the zone is implicitly behind the National Chairman of our party, Mr. Adams Oshiomhole. We are fully in support of our chairman and people from outside of our zone will not tell us how we will manage our office that was zone to our region."

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NGN NGN 13.30 146.50 3.20 35.70 0.29 3.27 0.19 9.69 0.09 1.02 NGN 0.04 0.37 0.60 5.85 0.40 5.35 WEMABANK 0.04 0.61 ZENITHBANK 1.20 18.80 HPE Nestle Nig Plc â‚Ś1,017.00 Volume: 361.108 million shares Value: N4.275 billion Deals: 4,602 As at Friday 6/03/2020 See details on Page 37

% 9.9 9.9 9.7 9.6 9.6 % 9.7 9.3 6.9 6.1 6.1

MONDAY MARCH 9, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ ÍˇËœ 2020

COMMENT

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

COVID-19 AND SOCIAL MEDIA

Adewale Kupoluyi canvasses strong, planned, and sustained information management to curtail the viral disease

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he calamity brought to mankind with the spread of the deadly coronavirus virus may be aggravated unless a deliberate effort is made to stop the ongoing panic, misinformation and social media abuse. What we now have and scattered around are news headlines circulating on social media regarding the viral outbreak, which can be described as fake news and mere hoaxes. These include messages like ‌ outbreak is much worse than the government is admitting ‌ Traditional healer finds cure ‌ Drink plenty of wine and cure the virus ‌ The disease is punishment for sin ‌ Millions have been infected and thousands of people are keeling over in the streets of China ... Foundation predicts this outbreak that it will kill 65 million people ‌ Rumours, falsehood, and misinformation have been the side effects of viral outbreaks for as long as humans have been plagued by them since social media networks have now amplified irresponsible information. The New Media is so powerful that a tweet or post with dubious information can spread to all corners of the globe within minutes. That is the power of technology. The risk posed by the coronavirus is much, especially when there is no vaccine for the disease at the moment. Therefore, a potent way to curtail the danger being posed by the outbreak is through strong, planned, and sustained information management. It is for this reason that adequate attention should be accorded to putting a stop to the abuse. To date, there have been several casualties of the coronavirus disease (COVID-19) in over 25 countries. In many African countries, more vigilance is required for the rapid detection and containment of the virus at points of entry, to prevent community transmission amid our failing and weak health systems. Unfortunately, social media postings are just difficult to control. This is generally due to weak legislation in some jurisdiction, poor quality control measures by social network providers, and sheer mischief by users. Misinformation and conspiracy theories spread on social media have been found to generate panic and mistrust among the general public by diverting attention away from the outbreak response, impeding health-care and workers’ activities. Misinformation and fake news on social media during infectious disease outbreaks, including the ravaging coronavirus epidemic can seriously cost lives, and jeopardise efforts at curtailing the deadly virus, according to comments from various researchers and experts. This is because rumours and false information about diseases such as norovirus, flu, and monkeypox shared on social media were found to make people believe them with ease. The effect is that there is the likelihood for the people to forget to protect themselves well by observing good hygiene, washing their hands frequently and keeping away from other people as much as possible. In other words, when fake news is spread on social media, it tends to make the people get easily distracted by the misinformation rather than adhering to useful and timely hints that can save lives. Most times, the influx of irrelevances is so high on social media platforms that by the time critical piece of information comes in, nobody ever notices it. I often pity administrators of WhatsApp and other platforms that are forced to cope with junk messages almost every second and minute. Negative misinformation spreading like wildfire is an indication that a bad advice can circulate very quickly and cause harm. Examples of risky habits during infectious disease outbreaks include not washing hands, sharing food with ill people, not disinfecting potentially-

MISINFORMATION AND FAKE NEWS ON SOCIAL MEDIA DURING INFECTIOUS DISEASE OUTBREAKS, INCLUDING THE RAVAGING CORONAVIRUS EPIDEMIC CAN SERIOUSLY COST LIVES, AND JEOPARDISE EFFORTS AT CURTAILING THE DEADLY VIRUS

contaminated surfaces, reporting strange diseases to health authorities, and failing to self-isolate from prone people. Besides, people are more likely to share bad advice on social media than taking good advice from trusted sources. To address the proliferation, it is vital to reduce the amount of misinformation on social media as well as educating the people to recognise false information that come under the guise of authentic posts. Recently, a controversial post quoted the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, as allegedly saying that corruption caused COVID-19 until it was refuted. Magu had been trending on social media for his speech at the Passing-Out-Parade of Detective Inspector cadets at the Nigerian Defence Academy in Kaduna. In a video, which went viral, Magu had said that “Corruption is the biggest strategy to humankind. Your Excellency, corruption is worse than all the diseases now running about. And I strongly believe, Your Excellency that even the coronavirus is caused by corruption�. The implication of this is that rather than focusing more on the disease, priority should be given to the political and economic dimension, which could be distractive for now and coming from a top official like Magu. Showing the concerns of the government on this development, the Minister of Health, Dr. Osagie Ehanire has also warned against peddling falsehood on social media. This was sequel to the report that an Italian businessman, who flew into the country from Italy was rumoured to have been infected with the virus until test report proved otherwise. The Italian was said to have spent the night in a hotel around the airport area before leaving for Ogun State. Until the social media hoax was debunked, it was reported that many residents in the Gateway State hurriedly relocated because of fear of infection. Aside the agony of the deadly disease, unguarded fear and anxiety tend to create another problem for the people as a result of information mismanagement occasioned by social media abuse. Similarly, it was reported that one Adewale Olorogun, said to be an Uber driver, allegedly picked up the same Italian visitor and had equally contracted the virus and refused to be quarantined. Rather than restrict his movement, Olorogun was said to have threatened to spread the disease if the Ogun State government fail to meet his demand of N100 million. However, the photographs attached to the fake news was supposedly that of Olorogun even though the real picture was found to belong to one Jude Ikuenobe, who left Nigeria for greener pastures and got stranded in Libya! The recurring abuse has partly justified why members of the national assembly once moved to pass a bill to regulate the use of social media in the country, even though their motives then was doubtful whether it was not for sheer political reasons. Under the prevailing circumstance, we should exercise great caution not to create more problems for ourselves. We should stop forwarding and sharing unconfirmed messages. Once a dangerous message is not reposted to others, it would naturally die and cease to exist. This is what we should be doing. Social media are meant to make life worthy of living and not miserable. Today, many people are terribly addicted and abuse social media at home, in the offices, on the road, at worship places, and even while trying to sleep. Have we become slaves to technology? Kupoluyi wrote from the Federal University of Agriculture, Abeokuta

AS WE AWAIT THE RAINS All the stakeholders should do their bit to mitigate the impact of the rains, writes Tayo Ogunbiyi

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ain is considered a major blessing of nature. In rural Africa, where farming is a major pre-occupation, the coming of rain brings joy to the farmers. However, like other natural blessings, rain could become a problem when it is in excess and with horrendous effects. The previous year was particularly bad news for the world in terms of the volume of rains experienced and its attendant consequences. For instance, millions of people were displaced by deadly floods resulting from torrential rains in China, Australia, Japan, United States of America, Indonesia and Brazil. In Australia, in particular, torrential rainfall brought the whole nation to its knees with major flooding, damaging winds and dangerous surf and severe thunderstorms. All of these experiences are largely traceable to global warming-induced climate change which is posing major threats to lives, food security and businesses globally. In Nigeria, in view of its topography, Lagos also had its fair share of distressing rains. Last year, the heavens opened up in an unusual fashion, leaving in its trail pains and heartaches. In view of its peculiar topography, like other such coastal cities, the rainy season is usually challenging for Lagos residents. A critical feature of Lagos landscape is that it is essentially made up of low lying terrain up to 0.4 per cent below the sea level. This is logically the source of huge drainage challenges for the state. If this is added to the volume of rain that was

experienced last year, it would be realized that there is possibly no way there would not be flash flooding in Lagos. Understanding this scenario is quite crucial to our overall perception of Lagos’ flooding concern. Understanding the threat of global warmingdeforestation, greenhouse gasses emission- and its damaging effects on the world is equally essential. It is as a result of this that the Lagos State government has been in the fore-front of combating the challenge in the country. It has held several international global warming conferences, in addition to making several advocacy campaigns on the subject in recent time. Being a natural occurrence, flooding often time defies scientific solutions. While upgrading environmental infrastructure is important, engineering fixes alone will not suffice. According to renowned ecologists, Donald Hey and Nancy Philippi, despite the massive construction of levees throughout the upper Mississippi Basin during the 20th century, annual average flood damage during that time more than doubled. Consequently, what is needed across the globe is a comprehensive plan to add ecological infrastructure to complement engineering infrastructure - specifically to expand wetlands and re-activate floodplains so as to mitigate future flood risks. In Nigeria, we don’t appreciate preparedness and prevention of disaster but wait for problem before taking action despite our weak

infrastructural development. Tackling natural occurrences such as climate change and flooding is a collective responsibility that must involve every segment of the society. Therefore, as we await the rains this year, we must all be ready to embrace positive attitude to the environment. In Lagos, for instance, certain negative practices easily aid flooding. This include turning canals, streams and drainages into refuse dumping sites. It is so bad that while it is raining, people come out to toss their refuse into the flowing water body. This is wrong and must be discontinued. Lagos residents, especially, need to be more affirmative concerning proper waste disposal, compliance with building regulations, embracing alternative energy use, paying necessary attention to sanitation issues and not building structures on drainage channels, flood plains and on water pathways. Also, those living in flood-prone areas as identified by the government must seek alternative accommodation before the rains. Indeed, all human-induced activities that aid flooding must be stopped. With the prediction by experts that the world would witness more rains this year, we all must be ready to play our part to avert devastating consequences. The federal government, through its relevant agencies, should collaborate with states that have peculiar flooding challenges to determine areas of assistance. This must be done as a regular preventive measure, and not after the havoc has been done.

As always, the Lagos State government is committed to a cleaner environment and quality public health. It is demonstrating this through the implementation of community-based solid waste management, flood control, vegetal control and high standard of home and personal hygiene, sanitation, control of environment pollution (air, water and noise), beautification and advertisement control. Consequently, the state government’s approach to tackling the issue of flooding is multi-faceted and multi-dimensional. It includes dredging, massive construction and expansion of drainage channels, desilting and excavation of silts to dumpsites, regular repair, clearing and cleaning of drainages, canals and collector drains across the state. Being a natural occurrence, no known scientific device is capable of stopping rain. It is, however, possible to mitigate its adverse effects, if we all resolve to do the right things. The struggle between man and nature has for long been a protracted one. The airplanes, the Panama Canal, the European tunnel, the Pyramid of Egypt, among others, remain clear testimonies of the indefatigable depth of human capacity for survival against the threat of nature. Therefore, to mitigate the effects of the rains this year, we must all work together as one and do the needful. Together we can make our society a safer and better place to live. Ogunbiyi is of the Ministry of Information and Strategy, Alausa, Ikeja

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T H I S D AY ˾ FRIDAY, MARCH 9, 2020

EDITORIAL THE EXPRESSWAY OF AGONY The Lagos-Ibadan Expressway deserves significant attention

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here was some mild relief last week as the Kara Bridge section of the Lagos-Ibadan Expressway was opened to traffic. The failed stretch, partially closed for reconstruction in September last year, necessitated a diversion of traffic. While the reconstruction lasted, commuters were subjected to constant irritation due to most agonizing traffic gridlock, particularly on the Lagos -Shagamu exchange section. The gridlock was often intensified by breakdown of vehicles and indiscipline among drivers, many of whom drove against traffic. Even more worrying, armed robbers took advantage to brutalise, harass and smashed people’s cars and carted away their valuables. Some unlucky commuters who resisted the gang of criminals paid with their lives. But the road to redemption is still faraway, despite the opening of the Kara-Berger section. “The road is still under construction and lots of things need to be put in place,” said Taofik Iyanda, a Federal Road Safety Corps (FRSC) assistant commander. “So, commuters have to be very careful and exercise patience anytime they are plying the road.” THE UNDUE DELAY IN Indeed, the 128-kiTHE RECONSTRUCTION lometre highway is EFFORTS IS COSTING still a nightmare to THE NATION SO MUCH IN both motorists and TERMS OF LIVES AND TIME commuters. Launched in August 1978 by the then military government of General Olusegun Obasanjo, this strategic road was ill-maintained and allowed to decay. There is little willingness to keep the highway in good shape as there was reluctance to invest in it. Attempts to reconstruct the road in the past 16 years by successive governments have been characterised by controversies. Initially awarded to Bi-Courtney Highway Services through a concession agreement by the federal government, former President Goodluck Jonathan had to revoke the agreement in November 2012 following lack of performance by Bi-Courtney. In July 2013, the govern-

ment formally flagged off the reconstruction of the road with 2017 as delivery date. But almost seven years after, the reconstruction arrangement which includes extension of the road from the hitherto four-lane to an eight-lane highway is far from being completed.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA

he attendant effects have been frequent fatal accidents and consequent gridlocks which often cause motorists and commuters grief and pains. More disturbing is that despite being handled by two contractors, Reynolds Construction Company (RCC) and Julius Berger and with a budget that has more than doubled the initial cost, the reconstruction has been painfully slow. It took nine months (June 2018 and February 2019) to complete one side of the 2.9 kilometre Aseese portion. Now the completion date for the entire project has been shifted to 2021, nine years after the reconstruction started, and signifying more years of agony ahead. What is worse, the new date is not sacrosanct. The Lagos – Ibadan expressway is very strategic because it is one road which connects all parts of the country. And with about 25,000 vehicles plying it every hour, it is undoubtedly the busiest road in the country. But the undue delay in the reconstruction efforts is costing the nation so much in terms of lives and time, aspects the authorities do not seem to be taking seriously. The project is suffering from paucity of funds. In the 2017 budget for instance, the National Assembly slashed the allocation from N31 billion to N10 billion. In saner climes, authorities embark on projects in strict consciousness of the level of discomfort and inconveniences they cause citizens. Hence, adequate measures are deliberately put in place to cushion the effects of such inconveniences during execution period. That is not the case in Nigeria. We therefore challenge the authorities to pay significant attention to this road and show utmost concern about the lives being wasted on a regular basis. Although the federal government has pledged to plough part of the expected $308m Sani Abacha loot from the United States to the project, that is not a reliable plan for a road of that significance.

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Letters to the Editor

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IWD: WHEN WILL NIGERIA QUIT TALKING?

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he International Women’s Day is a moment to reflect, celebrate the wonderful creature-the women, and call for drastic change in plight and travails of girl-child and women, in the country and our communities. Despite the global efforts and impacts, no country has achieved gender equality. Regardless, this is a special opportunity to deepen the agitations as we must stop paying it lip-service. Nigeria must set to work to lead the rest of Africa on women advocacy, rights and empowerment. According to the United Nations Secretary General, 7,000 incidents of sexual violence was recorded against women and girls by terrorists in Nigeria between 2009-2017. This is grim statistics highlighting how girls are fast becoming pawns in the scheme of terrorrism. This is an inhumane insurgency trend this nation must stop forthwith. The Leah Sharibu and the Chibok girls’ debacle are enough calamity for a lifetime. The rights of women are still in jeopardy. Wikipedia (2017) puts women in the labour force in Nigeria ratio at 50%. But one in three women are victims of sexual or gender-based violence. Aside from the poor, prevalent cultural mindset of a notoriously patriarch society, illiteracy and vast lack of awareness of rights by women in the local communities does not help matters. As fast as we can, we must improve women’s participation in politics. The unorthodox approach of using them for electioneering without trusting them with leadership position is repudiating. Every Nigerian

state governor should emulate Kwara’s AbdulRazaq who appointed 52% women cabinet, so as to stop under utilising the potential of women in nation building. Nigerian women’s rights to health must be accorded better attention. The health problems for the women include breast and cervical cancer, high maternal mortality rate, female genital mutilations, vesico -virgina fistula among others. These are health challenges that are life-threatening. To keep a nation, one must keep the women healthy. The Nigerian women deserve best medical attention from the government at all levels. On the International Women’s Day, the nation should reflect on how to make heroines out of every woman. Any encumbering legal, social and economic system of the country on gender inequality should be dismembered. The girl-child education should be given a definitive commitment. The punitive culture and mindset of degradation of the womenfolk should be seriously frowned at. The earlier the nation has more female researchers, scientists, doctors, engineers, among others, the better. The whole world is increasingly aware of women’s might and Nigeria should not be left behind. As the theme for this year’s celebration suggested, realizing women equality is a generational responsibility. Therefore, the press persons, civil societies and development bodies should support the government at all levels to achieve this global goal. Ibraheem Abdullateef, Kwara State University, Malete.

THE WORLD’S MOST ANNOYING HUMANS

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here’s nothing more annoying in the world right now than reading intellectually impoverished Nigerian Trump supporters writing ill-informed garbage on American politics about which they have zero understanding. Trump is an outright racist who thinks black people, including his clueless Nigerian supporters are sub-humans. His immigrant visa ban on Nigeria is simultaneously designed to halt the growing population of black Africans in the United States, which Nigeria leads, and appeal to his xenophobic conservative base. For instance, “Nigeria had the biggest drop in visitors to the US” in the world in 2019, according to data from National Travel & Tourism Office. This has roots in Trump’s racial animus against Nigerians (and, of course, other non-white people who come to or live in America). Trump was widely quoted in January 2018 to have said he didn’t want immigration into the US from “shithole countries” like Nigeria and Haiti and instead wanted “more people coming in from places like Norway.” In other words, he wants only white immigrants. In December 23, 2017, he was reported to have said people from Haiti and Nigeria

should be denied visas because “15,000 Haitians who received US visas ‘all have AIDS’ and 40,000 Nigerians [who visited the US on tourist visas that year] would never ‘go back to their huts’ after seeing the US.” And in 2016, Trump praised and promoted a book titled “Adios America” by American conservative activist Ann Coulter which, among other wild claims, said, “There were almost no Nigerians in the United States until the 1970s. Today there are 380,000,” which she said was a problem because “in Nigeria, every level of society is criminal.” Trump’s claim that Nigeria was included in the immigrant visa ban because of “security” concerns is asinine at best. More than 90 per cent of the terrorists who murdered Americans on September 11, 2001 were from Saudi Arabia. In fact, as recently as December 2019, a Saudi military trainee killed three Americans and wounded eight others in Florida. No Nigerian has ever killed an American on American soil. Why is Saudi Arabia excluded from the list? Why are Nigerians, whom several surveys have shown as having one of the most favorable views of America in the world, excluded from gaining immigrant visas? Anti-black bigotry. Nothing more. Felix Oladeji, Lagos

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T H I S D AY ˾ MONDAY MARCH 9, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Again, APC Returns to Tenterhooks Adedayo Akinwale writes that the fate of Mr. Adams Oshiomhole as the National Chairman of the All Progressives Congress (APC) hangs in a balance, as the voices calling for his removal grow stronger

Buhari

Oshiomhole

Obaseki

Ojezua

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The failed NEC meeting /FWFSUIFMFTT GFX EBZT BGUFS UIF TUBUFNFOU XBT SFMFBTFE UIF SVMJOH QBSUZ DPOWFOF UIF /&$ NFFUJOH JNNFEJBUFMZ BGUFS UIF "1$ XPO UIF HPWFSOPSTIJQ FMFDUJPOT JO CPUI #BZFMTB BOE ,PHJ 4UBUFT 5IF MBTU UJNF UIF SVMJOH QBSUZ IFME UIF /&$ NFFUJOH XBT "VHVTU 1BSUZ GBJUIGVMT IBE IPQF UIBU UIF DSJTJT SPDLJOH UIF QBSUZ XPVME CF BEESFTTFE r4IVBJCV IBE JO B GJWF QBHF MFUUFS UP UIF DIBJSNBO EBUFE .BZ EFDSJFE UIF QBSUZ T EFDMJOF VOEFS IJT MFBEFSTIJQ XIJMF VSHJOH IJN UP CPX PVU PG PGGJDF JOTUFBE PG CFJOH GPSDFE PVU r5IF GFVE CFUXFFO 0TIJPNIPMF BOE IJT QPMJUJDBM TPO UIF (PWFSOPS PG &EP 4UBUF (PEXJO 0CBTFLJ JT OPX IVSUJOH IJN NPSF UIBO IF DPVME FWFS JNBHJOF "T TUBUFE CZ UIF QMBJOUJGG BOE UIF QSBZFS HSBOUFE CZ UIF KVEHF UIF CBUUMF GPS 0TIJPNIPMF T SFNPWBM TUBSUFE GSPN IJT PXO TUBUF

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MONDAY MARCH 9, 2020 •T H I S D AY

MONDAY MARCH 9, 2020 • T H I S D AY

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T H I S D AY ˾ MONDAY MARCH 9, 2020

MONDAY DISCOURSE

Galadima

Issa-Onilu

Ogala

Odigie-Oyegun

as well as the suspension of some party chieftains and above all the growing call for the resignation of Oshiomhole. At the end of the day, the purpose of holding the NEC meeting was defeated as the lingering crisis within the ruling party remained unresolved and the meeting ended abruptly.

tion of the Ward 10, Etsako West local government area of 2nd November of the 1st respondent pending the hearing and determination of the motion on notice. “That the 3rd defendant is restrained from dealing, communicating or howsoever recognising any person other than the 2nd defendant as the national chairman of the 1st defendant for any party business or carrying out any duties vested in the commission by the Electoral Act.” The judge also ordered that the defendants in the suit shall enter appearance and file their process in defence of this suit abridged to seven days, while also adjourning the matter to 8th April, 2020 for hearing.

Suleiman Bagudu and Lugard Alukpe, respectively, the 18 LG chairmen of the party in the state distanced themselves from Oshiomhole’s suspension. They insisted that they were not aware of such a meeting where a vote of no confidence was passed on Oshiomhole who they said was “doing very well.” However, the Obaseki APC faction in the state outsmarted Oshiomhole’s when it approached the court to get his suspension enforced and a judgement was delivered in it favour. Rather than vacate the court order, Oshiomhole handled the matter with levity. It was this lapses on his part that Salihu took advantage of to knock the comrade chairman off his seat.

After Oshiomhole’s meeting with president Muhammadu Buhari, he told journalists that his opponents, including the North-east Vice-Chairman, Salihu, who was the mastermind of the move leading to the interlocutory injunction of the FCT High Court, also ensured the suit was adjourned to April 7, so that they could have enough time to perpetrate their mischief. He insisted the injunction from a Kano Federal High Court had rendered the interlocutory injunction useless, adding that only the FCT High Court judge could explain how he came about his initial injunction. The embattled chairman said that the forces after him have no capacity to deliver victories at councillorship elections, but meet at night to get rid of him because they see him as a threat and so want to embarrass him. Oshiomhole said that the forces that are after his head meet in ministers’ houses in the night, lamenting that Obaseki, who he said was the person he helped to power wants to “chop off his neck.” “Let me also say that those behind this plot, the hands you saw which includes as you saw yesterday, you saw the Edo State governor and his people jubilating but that is the irony of life; that you will help give birth to a child and the child looks for cutlass to chop off your neck. It has happened in history. It has happened in this country so I won’t be the only person,” he lamented.

Protests Galore The national headquarters of the ruling party had been turned to Unity Fountain (a protest venue in Abuja) of sorts lately, as both pro and anti Oshiomhole protesters had on many occasions stormed the secretariat. In most cases security personnel attached to the party secretariat averted what could have been bloody clashes between the two opposing groups. Oshiomhole’s Suspension by Court The High Court of the Federal Capital Territory (FCT) last Wednesday ordered Oshiomhole, to stop parading himself as the party’s chairman. The court, led by Justice Danlami Senchi, in his ruling, ordered that Oshiomhole should remain out of office pending the determination of a substantive suit that was brought against him by some aggrieved members of the party. The order followed an application of interlocutory injunction that six plaintiffs, led by the party’s vice-chairman (Northeast), Mustapha Salihu, filed through their lawyer, Oluwole Afolabi. The plaintiff had, among other things, prayed the court to oust Oshiomhole from office on the account that he was previously suspended as a member of the party from his Etsako ward 10, in Edo state. Oshiomhole was cited as the 1st respondent in the matter, the APC as the 2nd respondent. In the application dated January 16, the plaintiffs told the court that Oshiomhole failed to challenge his suspension in his primary ward in Edo state. They argued that since his suspension remained extant, his rights as a member of the party are currently abated, insisting that he could, therefore, not continue to head the APC as its chairman. Kano Court Order On Thursday, the crisis rocking the party was further complicated a when federal High court in Kano ordered all parties in the suit to maintain status quo bellum. Contrary to media report that the Kano judgement returned Oshiomhole as the chairman, the court only ruled on the suspension from his Ward. Justice Lewis Allagoa in a suit filed by one Aliyu Rabiu as the plaintiff and listed the APC, Oshiomhole, the Independent National Electoral Commission (INEC), Inspector General of Police and Director General of State Security Service (SSS) as the 1st, 2nd, 3rd, 4th and 5th respondents, said that all parties should maintain status quo. The Judge directed that, “All the parties to this suit to maintain the status quo ante bellum pending the hearing and disposal of the motion on notice filed herein that is, an order directing the 1st ,3rd ,4th and 5th defendants either by themselves, servants, assigns it any officer howsoever described and by whatever name called from giving effect to the purported resolu-

Oshiomhole’s Home Travails The feud between Oshiomhole and his political son - the Governor of Edo State, Godwin Obaseki is now hurting him more than he could ever imagine. As stated by the plaintiff and the prayer granted by the judge, the battle for Oshiomhole’s removal started from his own state. Oshiomhole and Obaseki had been at loggerheads for a while, and it was alleged that Oshiomhole was plotting not to allow Obaseki return as governor and Obaseki in return was planning to have him removed as the party chairman. The faceoff between the duo climaxed in November 2019, when the Edo state APC faction loyal to the governor suspended Oshiomhole. The decision followed the vote of no confidence allegedly passed on him by the chairmen of the APC in the 18 local government areas of the state. In a statement jointly signed by the APC chairman and assistant secretary in Edo, Anselm Ojezua and Ikuenobe Anthony, respectively, indicated that Oshiomhole was suspended for his alleged role in the crisis rocking the state chapter of the party. “Consequent on the development, the State Executive Committee has adopted the vote of no confidence passed on him and the subsisting suspension order from the organs of the party in the state. The vote of no confidence on Oshiomhole and the suspension are the fallout of his role in trying to disintegrate the party in Edo state,” the statement said. Reacting, the Oshiomhole APC faction in a statement jointly signed by the chairman of the body and Etsako-west chairman, Ibrahim Akokia, as well as his Etsakocentral and Owan-west counterparts,

APC Govs Divided over Oshiomhole’s Fate Meanwhile, as the court ordered the return to status quo ante, APC governors are currently divided about the fate of Oshiomhole. While some are in favour of his removal from office, some are against it. Some of the APC governors who want Oshiomhole out of the picture met last Wednesday to perfect their plans to oust the embattled chairman. It was gathered that more governors had already joined the “Oshiomhole must go” camp, this, swelling their number to 15. A reliable source disclosed that: “I can tell you that some APC governors met on Wednesday but their numbers have increased to 15 now and they are bill to meet on Thursday’s evening to perfect the strategy to remove the national chairman.” No fewer than 12 governors of them are backing the embattled leader, insisting that the ambition of their colleagues provoked the current crisis. Meanwhile the pro-Oshiomohole governors are unhappy that some of their colleagues appear to be behind the crisis. According to a reliable source, “At least, 12 pro-Oshiomhole governors will be meeting very soon to strategise on how to stop what they have described as an embarrassing matter. Oshiomhole ensured the re-election of the President. He ensured the coming into being of a National Assembly that is on the same page with the executive in terms of implementing the party manifesto.’’ Oshiomhole Meets Buhari over Party Crisis

For more than one year, the National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole has been up in arms fighting forces that are bent on removing him as the chairman of the ruling party. It has really been a very tough fight for the comrade chairman lately. Each time, he has been able come out of the battle unshattered and even stronger

SAN Comdemns Conflicting Court Orders on Oshiomhole A Senior Advocate of Nigeria, Ahmed Raji (SAN) has described the way and manner courts of coordinate jurisdiction give orders that seems to be in conflict with one another as not only confusing but bizarre. He said it is improper for a court of coordinate jurisdiction to appear to be sitting as an appellate court over the decision of another. Lukman Calls for Appointment of Acting National Chair Nevertheless, Lukman has called on the leadership of the party to appoint an acting National Chairman pending the resolution of the membership status of Oshiomhole at the emergency NEC scheduled for Tuesday. The director general in a statement issued said that following the conflicting court orders, the most important political question has to do with implications of the unfolding events on the party, the leaders, especially regarding the status of Oshiomhole. Lukman stressed that the only possible remedy would be if Oshiomhole is able to humble himself and go back to the root cause of the problem and resolve it. To this end, he called on the leadership of the party to invoke invoke provisions of Article 17 (vi) of the APC Constitution which provides that in the event of a vacancy, “the relevant Party organ shall appoint another person to act in his place pending ratification by the National Convention or Congress,” pending the settlement of all the cases around Oshiomhole’s membership.

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

IWD 2020: Celebrating Nigeria’s Women in Journalism (2) Ă Ă?ĂœĂŁ Ă‹ĂœĂ?Ă’ ΀˜ ÞÒĂ? Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ù×Ă?Ă˜ËŞĂ? Ă‹ĂŁ Ă“Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ?ĂŽ Ă‘Ă–Ă™ĂŒĂ‹Ă–Ă–ĂŁË› Ă’Ă“Ă? ĂŁĂ?Ă‹Ăœ ĂĄĂ‹Ă? Ă˜Ă™Ăž ĂŽĂ“ĘĽĂ?ĂœĂ?Ă˜ĂžË Ă™ Ă—Ă‹ĂœĂ• ÞÒĂ? ĂŽĂ‹ĂŁËœ Ă?Ă?Ă›Ă&#x;Ă?Ă– ÞÙ ÞÒĂ? ĂšĂ‹ĂœĂžĂ? ĂšĂ&#x;ĂŒĂ–Ă“Ă?Ă’Ă?ĂŽ Ă–Ă‹Ă?Ăž ĂœĂ“ĂŽĂ‹ĂŁ Ă“Ă˜ Ă?ĂĄĂ?ÚËÚĂ?ĂœËœ Chiemelie Ezeobi Ă‹Ă˜ĂŽ Mary Nnah ĂšĂœĂ™Ę¨Ă–Ă? ÙÞÒĂ?Ăœ Ă‹Ă—Ă‹Ă¤Ă™Ă˜Ă? Ă“Ă˜ ÞÒĂ? Ă˜Ă?ĂĄĂ?ĂœĂ™Ă™Ă—Ě‹ Ă?ĂœĂ™Ă— ĂšĂœĂ“Ă˜Ăž ÞÙ ĂŒĂœĂ™Ă‹ĂŽĂ?Ă‹Ă?Ăž Ă‹Ă˜ĂŽ Ă?Ă Ă?Ă˜ Ă™Ă˜Ă–Ă“Ă˜Ă? Ă—Ă?ĂŽĂ“Ă‹Ëœ Ă‹Ă?ĂœĂ™Ă?Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ĂĄĂ’Ă™ Ă?Ă™Ă˜ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ? Ă“Ă˜ Ă?Ă’Ă‹Ă˜Ă‘Ă“Ă˜Ă‘ ÞÒĂ? Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă Ă? åÓÞÒ ĂœĂ?ĂšĂ™ĂœĂžĂ? Ă“Ă˜ ÞÒĂ?Ă“Ăœ ĂœĂ?Ă?ĂšĂ?Ă?ÞÓà Ă? ĂŒĂ?Ă‹ĂžĂ?

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he 2020 International Women’s Day (IWD) themed ‘I am Generation Equality: Realising Women's Rights’, which aligns with UN Women's new multigenerational campaign, Generation Equality, which also marks the 25th anniversary of the Beijing Declaration and Platform for Action, was marked on Sunday, March 8. This theme shines the spotlight on the imbalance in the media as the females are often faced with numerous challenges from sexism to prejudice, stereotype, conscious bias, discrimination and gender misrepresentation etc. It was in a bid to address these issues that UNESCO commissioned the major review of the literature worldwide related to women and media in its second medium term plan for the women’s decade (1976-1985) where it proposed among other things programmes devoted specially to the advancement in women’s roles in the media. It is undeniable that despite the challenges facing women journalists all over the world, they are contributing tremendously to the development of the media industry. Nonetheless, compared to what was obtainable in the past, things are much better for female journalists. From the rich repertoire of persons showcased last Friday and the ones in this sequel, it is obvious that female journalists are beginning to dominate beats formerly regarded as the exclusive preserve of their male counterparts, some even head those desks. Does it mean everything good has come for the women folk? No! But it can certainly get better. Kudos to THISDAY Newspaper that has set the pace with a woman editing all three titles and now is the MD of Arise TV, Ijeoma Nwogwugwu. The paper has also seen women rise to head the Energy and Features Desk, as well as deputise on the Sunday Desk. Again, here are some of our Women in Journalism (WIJ) who are making their marks either in print, broadcast or online media... Ijeoma Nwogwugwu: Managing Director, Arise TV I am Ijeoma Nwogwugwu with THISDAY Newspapers. I have covered business for 25 years and counting. I edited the desk and the Saturday, Sunday and Daily titles before moving to Arise News Channel, Africa. The journey has been exciting, tasking and fulfilling. But who says hard work

does not pay? Journalism is one of the few professions where you can get excellent exposure. If you are by nature competitive and want to stand out from a seminal and creative perspective, it is the ideal job for those with the listed personality traits. But it can take a toll on your personal health and life because of the long hours and sacrifices that you have to make. But at the end of the day, it’s all been worth every late night and tasking assignment. Mary Abayomi Fatile: Defence and Investigative Reporter, Radio Nigeria, FRCN Mary Abayomi Fatile is a very vibrant goal getter who has won several awards, both locally and International in four years of her career. I have won the Best Investigative Crime Reporter of the year at the 16th African Security Watch Award in Dubai (2019); Best Investigative Crime Reporter of the year at the 15th African Security Watch Award in The Gambia (2018); Rotary District 9110, Nigeria, Third Position (Humanitarian Reporting, 2018); Winner, The Nigerian Media Merit Award (N.M.M.A), for Radio Reporter of the Year, 2017; The Nigerian Media Merit Award (N.M.M.A}; Winner: (Radio Reporter Of The Year, 2016); Diamond Awards For Media Excellence (D.A.M.E); First Runner Up: (Editorial Integrity, 2016); Diamond Awards For Media Excellence (D.A.M.E); First Runner Up: (Radio Reporting, 2016); Diamond Awards For Media Excellence (D.A.M.E); Secondrunner Up: (Reporter Of The Year, 2015); Alimosho Times, Outstanding Crime Investigative Journalist of Distinction, 2015; Alimosho Times, Security Conscious & Friendly Media. Despite these awards, I would be the first to tell you that the journey has not been easy. But with God I have been able to scale through and I am still going higher. One of the challenges I face is in terms of investigation. At times, I spend my funds to get stories, but when you try to get justice for the victim, you are asked to drop story because of fear of police or being killed by the suspect. Another challenge is that of getting home late and at times, our homes bear the brunt.

Evelyn Usman: Assistant Crime Editor of Vanguard Media Limited I started my career in Journalism

after obtaining a degree in Modern Languages, from the Ambrose Alli University, Ekpoma, Edo State and at the completion of the mandatory one year NYSC in Abuja. I cover the crime and defence beats and have over 3000 human interest and security related stories published, since I started reporting a decade and half years ago. Some of my write-ups had initiated government policies. One of them on the plight of ‘ Pensioners turned beggars’, formed the basis of discourse at the House of Representatives in 2005 and consequently resulted in the increment of allocation to the pension office, to ameliorate the sufferings of pensioners. In the course of my job, I have embarked on sea operation exercises between the Nigerian Navy and various navies of the world, both at home and abroad. I have also received several awards in recognition of my performance and dedication to duty.

Ivy Kanu: Crime/Security Beat, TVC News I must say it's been challenging, however, I'm driven by knowing I may just be the last channel for one voiceless Nigerian out there. Although my background is in Business Admin and public relations, I have practiced journalism over 13 years starting with print before settling into broadcast. I am currently the Security Watch Africa Best Security/Investigative Reporter (electronic)2017 and 2018. I have compassion for issues that have to do with women, children and the elderly. My ultimate ambition is to have orphanages and homes for the elderly.

If I wasn't a journalist, I would have been a lawyer or a nurse. Agatha Emeadi: Sunday Desk, The Sun Newspaper Apart from works done for the partial fulfillment of university degree, I started full-time journalism on May 15, 2003; 17years and counting. For me, journalism has been an exciting, wonderful and interesting profession in the sense that it has afforded me the opportunity to touch a few lives in my own little way. I feel elated when my stories and column wipe out tears, heal wounds and put smiles on someone's face. I am happy when I receive calls that says..."Thank you for educating or sharing this topic with us"... A woman had once called me to say ‘your piece healed my marriage... Now, I realise my mistakes... Thank you’. It is an exciting journey because there are some interviews that one conducts, and becomes fulfilled as a journalist who knows one's onions. The likes of the late Chief Alex Akinyele would say it voluminously as it is. It has also been an interesting journey when one's works are being recognised and celebrated.

Yinka Olatunbosun: Arts and Culture, THISDAY Newspapers I have practiced for 10 years, first as a legal reporter before joining the Arts desk. I was recently featured in Taz Newspapers, Berlin as a guest writer on the theme of Nigeria's population explosion. I'm a 2018 Fellow of the Female Reporters Leadership Programme. The challenges for me include securing funding for investigative stories,

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IWD 2020: Celebrating Nigeria’s Women in Journalism (2) navigating the thin line between PR and journalism and no time left for vacation. Ruth Akinwunmi-King: FRCN, Radio Nigeria, Lagos I am a Multimedia Journalist, a reporter with Radio Nigeria the largest Radio Network in Nigeria. I have over 10 years’ experience in reporting crime, environment, Women and Health related issues within and outside the shores of Nigeria. It has not been easy as a female journalist in Nigeria where we have just about 10per cent of women fighting their way into top management positions in media houses. I’ve had my own experience in harassment and other low moments on the job as a journalist. However, once you are focused, you can break new grounds.

Chioma Anyagafu Gabriel: Editor, Special Features, Vanguard Newspaper I studied at the University of Nigeria, Nsukka and did my NYSC at the Broadcasting Corporation of Oyo State. I had a brief stint with Radio Nigeria before engaging fully in the print media. I joined Vanguard Media in 1995 and rose through the ranks from being a correspondent to become the first and only ever female title Editor as Saturday Editor of Vanguard from 2011 to 2014. In journalism, I am driven by passion for the job than anything else. I have seen it all in journalism and know it is not easy for any woman who made it to the top. You have to work 10 times harder than anyone. Indeed, I doff my hat for women like Chris Anyanwu, Comfort Obi, Ijeoma Nwogwugwu and several women who made it on Radio and Television. The Nigerian woman has come a long way in the media and is still waxing stronger.

Yewande Iwuoha: General Manager, Radio Services Raypower I started practicing in 1992 with Republic Newspapers, later to Punch, ThisDay and now with Raypower/AIT. In my sojourn, I covered many

beats including, Education, Health, Foreign, Defence, Lagos State House & the Assembly and the Crime beat. It was tough gathering stories that could make headlines, but determination saw me through. At the State House, Alausa my hunting for "scoops" for headline stories was to get me into problem with the then military administrator, Colonel Olagunsoye Oyinlola, who banned me from covering the beat. NUJ leadership, under the late Ladi Lawal helped to restore me on the argument that I can only be removed over publication of falsehood. The job could be very challenging for women who have to attend to house chores, take care of home and their children at the same time. Records of success would however make the challenges worthwhile at the end of the day. My advice to upcoming female journalists/broadcasters: "dont give up, be focused, victory is just at the corner".

Funke Busari: Managing Editor at www.caseFileng.com CaseFileng.com is an online news platform that focuses mainly on judiciary and crime reportage and I am the managing editor. I hold a Higher National Diploma in Mass Communication from The Polytechnic, Ibadan, and have been actively involved in journalism since 1999 when I started out as an intern reporter covering the judiciary for the Punch Newspapers. It was in those days that you can count the number of female journalists on the tip of your fingers, a time when reporters planned their stories with dummy sheets and out-stationed correspondents sent their stories via land phones, pagers and fax machines. Apparently there is still a big room for disruption, but it is obvious that female journalists have been able to assert their professional and leadership capabilities in the mainstream and online media over time. That they are becoming more intentional in their professional drive is a testimony to the leadership positions these media amazons have taken up on merit in the last decade especially. And the exposure has been exciting

for me as well, having earned recognition for exposing impediments to the administration of criminal justice in Nigeria. Chioma Obinna: Health and Science Beat, Vanguard Newspaper I see journalism as part of my life and it has made me stronger even as a mother. I must also say that the challenges in the profession have also strengthened my love for what I do. As a development health journalist who is currently striving towards solution journalism, I feel elated when I do stories that brought about positive changes in the society. Health beat is one aspect of journalism you cover with a human face. Sometimes you are trapped between the devil and the deep blue sea. It is a beat you try not to sensationalise especially when there is an outbreak. Like the current COVID-19. As health a journalist you choose your words and try not to cause more harm as people already panicking and a lot of misinformation are everywhere in the social media. One thing I have learnt in all my years in journalism is balancing my report. While I was still new in journalism, I had lots of discouragements. Some people say, it is a profession for only men. Some say once you are married that will be the end of your career. But today I have surmounted them, all. Of course, hard work pays, I have won several awards and traveled wide in the course of my work. I have no regret choosing to be a journalist. For me it is a dream comes true.

Awojulugbe Oluseyi: Business Beat, TheCable Newspaper Right after my graduation from the University of Ibadan in 2015, I joined TheCable as a greenhorn - armed with ambition, zeal and hunger to succeed. I started out my journey in journalism on the Entertainment desk, reporting about movies, music and society before moving to the Business desk, towards the end of 2017. Being young and female on the Business desk has been both a springboard and a challenge. I've had to confront genderised perceptions and dispositions while at the same time, I have been fortunate enough to have sterling

mentions and opportunities for growth. Working with a generous and innovative team like TheCable and learning under the tutelage of a gender-neutral boss like Simon Kolawole, I have been encouraged to take on audacious projects, achieved recognition and risen through the ranks. More importantly, I have come to understand that to succeed as a woman in journalism, one must be willing to rise above sexism, prove misogynists wrong and go the extra mile like completing a report in the salon. In the coming years, I hope to break new grounds, prove my worth in the industry and ultimately, see more women excel on the job. Folake Sokoya: Senior Correspondent, Nationalwire, and Blogger with FolakeInvestigates I have been practicing since 2003 as an IT student with prestigious community newspaper. I joined mainstream media in 2004. The journey has been very interesting, challenging, overwhelming and fulfilling. I have always wanted to become a journalist/ broadcaster. So for me, my journey into journalism is a dream come true. Being a woman journalist is not an easy task coupled with lots of challenges and discrimination we face but journalism has kept me going. Ability to think outside the box is a gift I got from my mentors, Juliana Francis and Lekan Osiade, who saw the diversified ability in me and helped nurture it. With all the challenges and stress of being a woman journalist, l believe l am fulfilling God's purpose in my life. Journalism is my ministry and I also see it as a way of giving back to the society.

Itohan Abara-Laserian: Senior Correspondent, News Agency of Nigeria I have been in the journalism space since 2010 as a reporter in a private media outfit. In 2012, I joined the News Agency of Nigeria (NAN) and I am currently a Senior Correspondent. Reporting was just an interest that

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IWD 2020: Celebrating Nigeria’s Women in Journalism (2) metamorphosed into a passion and now I am loving every bit of the profession. Chiamaka Okechukwu: Senior News Editor, Voice of Nigeria I have been in this media practice for nine years now, reporting the Defence, paramilitary, Economy, Business and Technology beats. It is a profession with so many opportunities and risks not for the faint-hearted. In this journey as a reporter, I have been able to see different phases of life, relating with people that ordinarily I won't be privileged to meet aside this job. Then facing the home front coupled with the responsibilities on the job has been an amazing experience. Sometimes I wonder where the extra strength comes from.

but not without some convincing. I have since found that being a broadcast journalist is far more than being a pretty face. As an anchor who dwells heavily on current affairs and politics, I now know a great passion, a technical know-how, patience, humility, assertiveness and a willingness to learn are all key ingredients in this very interesting career path. Marriage and Motherhood is teaching me there's a lot more to learn and sometimes put my passion to the test. But as my husband reminds me, being a broadcast journalist is a big part of who I am. My light takes on a different glow when I'm on my job and I hope it will be one that'll light the way for young women looking to make their way in an industry influenced heavily by patriarchy but very involved in tearing down the walls that keeps women from achieving their full potential.

a column. I currently run an online news portal: www.frontlinenews.com.ng, which I set up after resigning from The Sun in January 2017. After 16 years career as a print journalist, I often say my strength is my versatility.

My journey into journalism started in 2003 with FRCN Abuja. I studied political science at the Nnamdi Azikiwe University Awka. I have covered many beats, being on the general beat desk. Though it was not easy covering those beats as a woman, as it came with so many challenges, but I thank God that today that casual worker of 2003 is now a manager news. Oluwasola Taiwo: Africa Independent Television (AIT) I had covered Lagos State Government and Aviation beats. I have been in the industry for over two decades. The journey has been an exciting one. God, passion and hardwork have been my driving force. As a woman combining journalism and taking care of the home front, it has not been easy but being a female journalist is one experience I will not trade for anything, challenging and demanding yet am proud to be a female journalist.

Juliana Taiwo-Obalonye: Assistant News Editor, The Sun Newspaper

Vanessa Obioha: Journalist with THISDAY Newspapers I cover diverse subjects including entertainment, lifestyle and politics. In my nearly eight years of practising journalism, I have had an intriguing experience. From the newsroom 'madness' to the endless field assignments. I have been captivated by the ideals of the powerful and the powerless in a society grappling with different socioeconomic and political issues. I have also seen how this plays out in most newsrooms where gender assumes a critical role in key decision-making processes. I'm however fortunate to work in a media organisation where women are given opportunities. One of the most interesting observations that usually gets me worried is the trickling number of women covering politics, particularly in the top echelons. Most print organisations have men leading their political desks. Are the women unfit for such positions? I will like to see a better welfare plan for journalists and the erosion of the perception that women are only fit for particular beats.

Maupe Ogun-Yusuf: Producer & Anchor, 'Hard Copy'; Co-presenter 'Sunrise Daily', Channels Tv It's been quite a ride in the past 12 years. I was drawn to broadcast journalism by the very pretty faces I saw reading the News on tv and next to acting, it was the next decent profession my parents would accept

Nkechi Onyedika-Ugoeze: Health and ICT, The Guardian Newspapers I have practiced for over a decade and it has been both interesting and challenging. I have covered many beats including Women Affairs, Culture and Tourism, Health and ICT. The profession has exposed me to a lot of opportunities but it has not been all rosy. I thank The Guardian for offering me the platform to express myself.

Kemi Yesufu: CEO/Editor-in-Chief, Frontline News Online These days, I prefer to describe myself as a journalist, media executive, gender equality/human rights activist and strong advocate for the reduction of poverty and lessening the wide gap between the wealthy and the poor. I wrote feature stories published in Gliterrati, a THISDAY publication but I later moved to City People Magazine. I also worked for Global Excellence Magazine where I anchored the Abuja High Society page. My journalism career also took me to Daily Independent and The Sun Newspapers. I wrote a High Society Column ‘Earsay' and "uptown" in both newspapers, combining this with the health and women Affairs beats in the former. At the Sun, I covered the House of Representatives where I also maintained

I have practiced for 24 years. My journalism career started on August 1, 1996 but as a page planner with THISDAY Newspapers. I was in school at Nigeria Institute of Journalism studying public relations when I joined. I was encouraged by my bosses at THISDAY then to go beyond what I was doing at the time and thanks to them, through dent of hard work and God’s grace, I have progressed from a page planner to a reporter and today I am the Assistant News Editor with Sun Newspapers, traveling the world covering big international events. The journey has been challenging (at a point I was covering seven beats at once and yet I didn’t disappoint), fun, full of exposure and confidence building and much more. Combining the home front and my job has not been easy, but this is one job I am so passionate about. I mean in 2015, when I was about to have my baby, I was still working on a story when the nurses came to wheel me into the theater and I had to quickly push the story to my news editor, telling him to complete the rest as the time had come.

Ijeoma Thomas-Odia: Saturday Desk, The Guardian Newspapers I have been practicing journalism for eight years now. I fell in love with the profession during my IT days in Champion Newspapers and I have further worked in other media houses before joining The Guardian. The passion for the job has kept me going, it gives an opportunity to know a bit of everything from various fields. Presently, I am passionate about issues surrounding women and girls. Understanding our plights, vulnerability, celebrating our victories too as females has been the highlight of practicing journalism for me.

Nkiru Njemanze: News Manager, Radio Nigeria

Editor’s Note Although we profiled few of some of these amazons, nonetheless, there are several others who are doing great things too that unfortunately weren’t captured! But we see you and believe the world does so too! Happy International Women’s Day (IWD) from us to you!

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Quick Takes Utomi to Deliver CBU Annual Lecture

STRENGTHENING BANKING RELATIONSHIP

L-R: Treasurer, Polaris Bank, Omoyele Adewole; Nigerian Representative, Bank of Beirut (UK), Charbel Haddad; Managing Director/CEO, Sophoklis Argyrou; Managing Director/CEO, Polaris Bank, Tokunbo Abiru; Group Head, International Operations, Ayotunde Adesanya; Chief Representative Officer, West Africa, Bank of Beirut (UK), Camille Chidiac, and Executive Director,Technology & Services, Polaris Bank, Innocent Ike, when the hosted leadership of Bank of Beirut, during the team’s business visit to Polaris Bank headquarters in Lagos‌recently

NPA Places Asian Vessels on Red Alert Over COVID-19 May divert vessels from Mauritius

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Eromosele Abiodun Following the outbreak of Coronavirus also known as COVID-19, the Nigerian Port Authority (NPA) has placed vessels coming into the country from Asia on red alert, due to the high rate of infection from the region. As a further measure, the NPA said it has agreed with shipping companies to divert vessels whose crewmembers’ are showing symptoms of the virus from Mauritius, which is regarded as the gateway to Africa. The Managing Director of the NPA, Hadiza Bala-Usman, disclosed this at a sensitisation

MARITIME programme for terminal operators, shipping companies and Dockworkers at the Lagos ports complex, Apapa. Represented by the General Manager Corporate and Strategic Communications, Adams Jatto she said personnel from the Port Health are fully on ground to avoid the spread of the virus through the ports. She stressed the need for the support of all stakeholders to forestall the spread of the virus at the nation seaport. The NPA boss said the authority has commenced plan to set up isolation centers at the ports

to curb the spread of the virus from the seaports. She said, “We are aware that the virus is spreading round the world in a very rapid form and of course there is need for us to curtail it, and we have been informed that there is no cure to this disease and the best thing for us to do is to have a precautionary preventive measure for us to ensure that it does not spread, so on the basis of this we have to call the terminal operators and of course the stakeholders for us to rub minds together and see how best we can do to curtail this menace. “Of course, we have done a lot of things on the part of NPA

to ensure we prevent the spread of this disease, as we know the port is one of the entry points into the country, that is why we deem it fit for us to discuss what we have done and of course what is expected of the terminal operators for them to be able to curtail this menace. “We have had collaborative efforts for us to fight this disease, we have seen what they have done, and the necessary medical materials are in each of the terminals.� “We have been told they have sanitisers as preventive measure for dock workers who access the vessels and there are things Continued on page 24

Adopt Fiscal Prudence to Avoid Debt Trap, Analysts Tell FG Obinna Chima The federal government has been advised to adopt fiscal prudence to avoid a debt trap in the country, especially as global interest rates start to rise. The CGF Advisory, stated this in its latest report on Nigeria’s economic outlook. Debt trap is a situation in which a debt is difficult or impossible to repay, typically because high interest payments prevent repayment of the principal. Therefore, the research and investment firm stressed the need for the federal government to determine its financing needs,

ECONOMY set its borrowing limit and then comply with Fiscal Responsibility Act As part of its recommendations to reset the Nigerian economy, the firm stated that a major policy overhaul to reduce revenue vulnerabilities and budget deficits that jeopardise the economy, was needed. It pointed out that key policy reforms would be imperative to support and sustain macroeconomic stability. These, it listed to include, among others, a foreign exchange manage-

ment framework that reflects the market fundamentals, the acceleration of the country’s economic diversification agenda, and the oil and gas sector reform, among others. In addition, it advised the federal government to cut overhead and recurrent expenditure, while increasing capital expenditure to total budget ratio. “There is an urgent need to reduce debt service to revenue ratio and also urgently raise nonoil revenue through programs such as initiatives to drive more people into the tax net and increase tax to Gross Domestic Product (GDP) ratio. “Lending policy needs be

revisited given concerns about deteriorating asset quality, tightening monetary policy to counter the rising inflation, each state government must pass a Fiscal Responsibility Act, and the Ministry of Finance, Budget and National Planning and other relevant bodies need to draft a successor medium-term development plan to succeed the Economic Recovery and Growth Plan (ERGP),� it stated. The ERGP which was launched in April 2017, focuses on strengthening the publicprivate sector partnership and promoting inclusive, diversified

Prof.PatUtomiwillbethekeynotespeakerattheCatholicBrothersUnited (CBU) annual lecture scheduled to take place on Sunday, April 26, 2020, at theSt.AgnesCatholicChurch,Maryland,Lagos.Themed,“Entrepreneurship: ATool for Mitigating Unemployment for National Growth,’the event is to congregate key business leaders and thought-leaders with the aims of equipping business owners and potential entrepreneurs with critical skills necessaryforthe21st-centurymarketplace. Otherdiscussantsattheevent include Mrs. Ifeyinwa Ugochukwu, who is a seasoned administrator and the Managing Director ofTony Elumelu Foundation,TEF; Chukwuemeka FredAgbata,theCo-founder,GoDoHub.organdDirector,FounderInstitute; Mrs. Ndidi Nwuneli, Founder, LEAD Africa, and managing partner, Sahel Consulting, and would be moderated by Rev. Fr. George Ehusani, the Director LuxTerra Leadership Foundation. Commenting on the annual lecture, the chairman of the organizing committee, Mr. Gabriel Akumhegie, said the event would oer business owners, entrepreneurs and executives exceptional opportunities to gain insights and practical knowledge from established industry experts, to further enable them to make balanced and informed decisions in their respective roles. Akumhegie, said available data could help improve business decisions in so many ways, one of which is eďŹƒciency gains. “These gains are valuable because they can improve not only individual businesses, but entire markets and society as a whole,â€? he added. He said the annual lecture would be uncovering key leadership principles, innovation possibilities and leveraging available data that has the potential to positively impact businesses, individuals and the Nigerian economy at large. On the choice of the topic, Akumhegie explained that because entrepreneurship is a tool for people pursuing careers in business creation and other related ďŹ elds, it has become an interested topic given the level of unemployment in the country and the new policy direction of government to equip the youth to take up careers that will help them develop their talents and contribute to economic growth of the country.

AB MFB Honours Female Clients, Sta

As the world marks the International Women’s Day on March 8, 2020, AB MicroďŹ nance Bank, last Friday honoured its female clients and sta at a special event.The Chief Business OďŹƒcer of the bank, Mr. PawelWodz, emphasised that the ďŹ nancial institution recognises the contributions of women to the nation’s economic development. A statement also quoted him saying women constitute over 60 per cent of the bank’s borrowers. Accordingtohim,overtheyears,womenhaveshowngreatentrepreneurial acumen in growing their businesses through facilities granted by AB MicroďŹ nance Bank and at the same time have proven very good repayment behavior which inspires great trust in Nigerian women as business partners to the bank “At AB MicroďŹ nance Bank, we give our female clients equal opportunities with their male counterparts in business ďŹ nancing and other areas they need our support. “Our records show that they have incredibly been able to utilise these facilities to grow their businesses in many ingenious ways. “We are highly encouraged by this and we thought that it would be a great idea to further encourage them by recognising, celebrating and honoring these wonderful women that are changing the face of businesses in Nigeria and the InternationalWomen’s Day provides the opportunity for us to show how appreciative we are to them,â€? he said.

Moody’s Cuts S’Africa’s Forecast

Ratings agency Moody’s on Friday cut its 2020 growth forecast for South Africa to 0.4 per cent, from 0.7 per cent, one of several countries it saw as having lower growth prospects in a new report because of the coronavirus outbreak. “The global spread of the coronavirus is resulting in simultaneous supply and demand shocks,â€? Reuters quoted Moody’s to have stated in a global research report. Moody’s is the last of the major international agencies to keep an investment grade rating on South Africa and is scheduled to review that assessment this month. “We expect these shocks to materially slow economic activity, particularly in the ďŹ rst half of this year.We have therefore revised our 2020 baseline growth forecasts for all G-20 economies.â€? South Africa onThursday conďŹ rmed its ďŹ rst case of coronavirus in a citizen who had visited Italy. Since the coronavirus outbreak began in the central Chinese city of Wuhan in December, it has infected almost 100,000 people worldwide and killed more than 3,000, mostly in China.

“Demutualisation to me is a necessary step towards the Nigerian capital market emerging as a global force to be reckoned with and that is what fueled my desire to see the fulfillment of the journey� Former President, NSE,

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Aigboje Aig-Imoukhuede

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BUSINESSWORLD NPA PLACES ASIAN VESSELS ON RED ALERT OVER COVID-19 they said we should do which I believe the management will be able to take care of,� she said. In her presentation, the Director Medical Services, NPA, Christy Akpa, said 90 South Korea and Japan report more cases of coronavirus, while another Chinese city near the eastern Asian countries was stepping up restrictions on travelers. Akpa, said the agency was already making arrangement for isolation centre to hold the people that are sick on board vessels. “I want to assure the whole nation that NPA is well prepared to handle any incident of suspected case of coronavirus on board. “We are collaborating with port health services of the Federal Ministry of Health and we are also in collaboration with the Lagos state government through the Commissioner of Health and I want to assure everyone that we are screening temperature of every port users. “We are also working with port health to ensure that all the crew on board are administered the passengers declaration form and also we have developed ADOPT FISCAL PRUDENCE TO AVOID DEBT TRAP, ANALYSTS TELL FG

and sustainable growth. Its timeline is about to elapse and the federal government is yet to achieve its set targets. Commenting on the 2020 approved national budget, the report stated that 71 per cent of debt service was to service domestic debt which accounts for about 68 per cent of the total debt. The overall 2020 budget deficit is N2.175 trillion. This represents a decrease of 12.1 per cent from the 2019 budget, a 1.52 per cent of estimated GDP (which is below the 3% threshold set by the Fiscal Responsibility Act of 2007), and is in line with the ERGP target of 1.96 per cent. The aggregate expenditure project in the 2020 approved budget is NGN10.59 trillion. This is 5.2 per cent more than the 2019 approved expenditure.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

NEWS

OAuGF, ICPC Target N100bn in Landmark Partnership James Emejo in Abuja

provision of critical infrastructure among others. Ayine, also said focusing on revenue agencies will further ensure that the government is able to fund its budget as well as reduce borrowing. He said while the exercise would be timely, the purpose was to also assist revenue agencies in doing their jobs better. He added that there was no need for panic among revenue generating institutions but sought for their cooperation in carrying out the exercise which was expected to commence next week. He insisted that the exercise

mainly seeks to strengthen public accountability and fight corruption as well as blocking leakages in order to make funds available for the benefits of Nigerians. However, the ICPC boss said corruption had set the country backwards over the years, adding that radical problems required radical solutions to address. He said the commission was currently taking some enforcement measures on past auditor general’s reports which had indicted several public institutions of corruption. Owasanoye, said the ICPC has the mandate to nip corruption in

the bud and in some instances of revenue diversion, order an immediate reversal and quickly punish offenders in line with its establishment act. He further disclosed that the commission was investigating 208 ministries, departments and agencies of government (MDAs) adding that the sum of N40 billion had been salvaged from being mismanaged. He said except revenue generating agencies are properly monitored through efficient systems, monies allocated for the implementation of constituency projects to benefit Nigerians may be squandered.

Therefore, he said the collaboration would assess systems and processes utilised by revenue agencies, adding that MDAs found to have violated extant laws will be publicly disclosed. He said the exercise was also intended to have preventive measures in place to deter corruption as, “prevention is better than cure�, stressing that “we will be asking questions.� Owasanoye, further said the commission had analysed the 2020 budget and will be closely monitoring the implementation of executive projects.

The Office of the Auditor-General for the Federation (OAuGF) and the Independent Corrupt Practices and other related offences Commission (ICPC) have signed a memorandum of understanding (MoU) to embark on a system study and review of revenue generating agencies in the country. The exercise, seeks among other things, to curb further revenue losses and leakages to the government and help save as much as N100 billion which could to help fund the 2020 budget. Speaking at the MoU signing ceremony between both organisations, the Auditor General for the Federation (AuGF), Anthony Ayine, alongside Chairman, ICPC, Prof. Bolaji Owasanoye, said there was the need for his office to upscale its relationship with the commission in order to strengthen the fight against corruption in the management of public resources. He said working in silos had often stifled progress adding that the collaboration will go a long way to strengthen their capacity to tackle corruption going forward. He said the development was in realisation that no institutions can tackle corruption alone but through strong partnerships. The AuGF said the fact that his office currently lacked enforcement powers had further necessitated the need for the partnership which is expected to be a game changer. He said the main focus of the collaboration would be on revenue generating agencies adding that if resources are properly harnessed, it would go a long way in helping the government to fulfil its prom- L-R: CEO, Linda Ikeji TV, Linda Ikeji; Managing Director, CEO, Fidelity Bank Plc, Nnamdi Okonkwo, and Founder / CEO, House of Tara International, Tara ises to Nigerians especially in the Fela- Durotoye, at a forum to mentor young female entrepreneurs, organised by the bank in Lagos...recently

CELEBRATING WOMEN

NIMN to Prosecute Six Marketing Professionals Raheem Akingbolu The National Institute of Marketing of Nigeria (NIMN) has announced plans to go ahead with the prosecution of six individuals, including marketing chieftains of Dufil Prima Foods Plc, Girish Sharma; Anheuser-Buch Inbev’s (AB Inbev), Mrs Tolulope Adedeji and Lafarge Africa Plc’s Mr. Viral Agrawal, for allegedly flouting marketing practice rule in Nigeria. The institute, in an affidavit sworn to by its Registrar, Mr.

Sydney Ogodo, at the Federal High Court of Nigeria, Ikoyi, in Lagos, on Wednesday, February 26, 2020, alleged that the individuals and three others: Mr. Folarin Lebile of the CWAY Group, Mr. Kola Oni of Axa Mansard Insurance Plc and Mr. Norden Thurston of the 7up Bottling Company, of practising marketing, without any proper certification from the institute. The institute’s Registrar, Mr. Sydney Ogodo, in the affidavit, explained that the institute, established by an Act of the National Assembly of the Federal Republic of Nigeria, in 2003, to register any

person who practises marketing in the country, decided to tow the judicial path, after several overtures from it were rebuffed by the concerned individuals. Ogodo, stated that before resorting to prosecuting the individuals, the institute had, in 2018, made publications in the national dailies, asking individuals, practising marketing in the country without any valid registration with the institute, to begin the process of registration. According to him, while many responded, and had since been members of the institute, the six individuals did not heed

the Registration call, even after the institute’s council decided to engage them, personally, in 2019. The institute’s Registrar, in the affidavit, described the first defendant, Mrs. Tolulope Adedeji, a Marketing Director with AB Inbev Ltd, as, “holding herself out to practise as a marketer in expectation of a reward and uses the name, title, addition or description, implying that she is in practice as a marketer and therefore contravenes the provisions of the law.� The second defendant, Mr. Girish Sharma, as Dufil Prima Food Plc’s Chief Operating Officer, Marketing,

according to the affidavit also, “holds himself out to practice as a marketer in expectation of a reward and uses the name, title, addition or description, implying that he is in practice as a marketer,� despite not being member of the institute. The institute, is therefore seeking, among other reliefs, an Order of Perpetual Injuction, “restraining the individuals, whether by themselves, their assigns, servants, agents, officers, privies or whatsoever from practising or earning fees as marketers in Nigeria, until they have registered with the Claimant.�

PHCCIMA Declares Rivers Safe for Investments Ernest Chinwo in Port Harcourt The President of Port Harcourt Chamber of Commerce Industry, Mines & Agriculture (PHCCIMA), Chief Nabil Saleh, has declared that the state is safe for investments and other profitable business activities. In an interview, the PHCCIMA President said the state was reaping the benefits of Governor Nyesom Wike’s investments in the state’s security architecture. He said: “As the voice of the business community

in Rivers State, I can tell you that the state is safe and good for investments. “Now we have three international airlines coming to the state. So, we are linked to the world. We can go to Europe in five hours and to any African country in a short time. “You don’t need to travel to another state before going to an international airport. The three international airlines can take you to different destinations of the world.� He said that there has been a marked improvement in the security of lives and property

in the state. “As the chairman for organised private sector of Rivers State, I can assure you that there is a big improvement in the security of the State. This is after Governor Wike gave all the security agencies equipment and vehicles under Operation Sting. “For now, the state is preparing for the security summit. This is with the collaboration of the private sector to help in transforming the security outlook of the state. With this, I am sure the security in Rivers State will develop to

a higher level,� he said. Saleh, lauded the Rivers State Governor for inaugurating the Ease of Doing Business Council, which would yield greater dividends to the state. He said: “Rivers State is friendly has an investment friendly climate and after Governor Wike inaugurated the Ease of Doing Business Council chaired by the deputy governor, I am sure it will increase investments in the state “We are here to protect the presence of investors and also assist and help new investors

come to Rivers State.� Also speaking on the security of the state, Madam Akudo who operates Mummy’s Kitchen at Garrison said that the security of the state has improved since the launch of Operation Sting. She commended the Rivers State Governor for the investment in security. Chibuisi Nwahiri, a businessman in Port Harcourt, also said that the state is calm with businessmen carrying out their legitimate activities. He thanked Governor Wike for investing in security.

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Adesina: Appropriate electricity Pricing Will unlock Investments in Power sector The Chairman of Ikeja Electric, Mr Kola Adesina, in this interview, calls for coordination among stakeholders in the electricity value chain. This, he believes will help address the challengesinthesector.Adesina also stresses thatpersistent blamegameby thestakeholders is not good for the sector. He also emphasises the need to introduce a cost-reflective tariff regime in the sector, saying if appropriate tariff is allowed, necessary investments will be unlocked as return on investments is assured. Obinna Chima provides the excerpts: Can you tell us what you think can be the common ground for stakeholders in the power sector? The common ground is simply this: When you call something a value chain, what it simply means is that it starts with the customer, the person that is consuming the electricity, what level of power does he need to function as a human being? What quality of power does he need to exist in a manner that makes sense? That is the issue here. That’s the first place to start. Now, having dimension your residential customers’ requirement for good life, for healthy living and for a productive life, then you take the next set of customers into consideration as well; that is the commercial and industrial users. How do you make a nation great? It is through your productivity level and the level of your economic activities that can truly propel the nation. Now, in Nigeria for everybody to have electricity in a stable, regular and productive manner, we require to generate, transmit and distribute 26,000 megawatts of electricity. Now, you go into the different alternatives of generating electricity, it is either you want to use renewables e.g. are the hydros, solar, wind or to use the thermal sources. These are different sources are readily available to you as options. So, in that dimension, the level of hydro you have, what quantum of energy can that hydro generate? What can the thermal plant generate? How many thermal units do you have presently in the nation? What is inhibiting them from generating their full capacity? How can you fix those things that need to be fixed in order for them to generate that 26,000 megawatts that you require? If our current capacity isn’t up to 26,000MW, how do we intend to expand capacity by adding more units to existing power plants or building new plants to augment the gap. Then you move to transmission, do you have a transmission infrastructure to evacuate 26,000 megawatts? Today, the answer of course is no. So, the question is how do you rapidly build a transmission infrastructure to be able to take 26,000 megawatts from the various generating plants and ultimately take it to the distribution companies? And once you get it to the distribution company, what is it that they require to take it to our various customers some of these are feeder lines and transformers.? From the above, you can see the systematic and concentric nature of the requirement for success in the sector. It starts with the customers; and ends with the customers. The lubricant that oils the chain from gas to distribution is tariff; appropriate tariff. The customer must pay for services charged for that chain to continue to work in an unbroken manner. That is the way it works anywhere else in the world. So, there is a need for an integrated solution where everybody in the value chain truly comes up with their own revenue requirement for success in order to make it work. Government role really for us should just be, to be a facilitator and an enabler, that is all. Once a government steps into the pricing of a commodity that is required for the success of that nation, for the prosperity of the nation, from an intervention or subsidy perspective, you introduce a distortion into the system. Now, to cure that distortion, requires a lot of work and sacrifices. Price distortion is the reason why we are all arguing and blaming one another for absence of reliable, stable and quality supply. To cure this anomaly, desperate but logical and long-term sustainable measures and solutions are required. Now, when you look at the United Kingdom (UK), they had exactly the same public sector driven like structure like Nigeria. Until Margaret Thatcher stepped if you recall from history when she pushed the reform agenda, it was a bit of a problem. The same uproar, the same noise was made by the British, but the woman insisted, that she was going to fix it, using the plants of reform and privatization as the cornerstone. Today, electricity supply is better and reliable in the UK, nobody is

Thermal energy is more expensive than hydro but has higher availability ration than the latter. The Hydos are often available in full capacity during the rainy season, whilst the thermals are usually all year round. Thus, there are different schools of thought in how to blend the two. One school opines that the Hydros should be sold to low income consumers whilst the thermal should be for the mid to high income consumers. But because we run a grid system with a radial technology, it is difficult to distinguish one electron from the other. Nigeria has the largest power market in Africa with the largest potential and opportunities. Fix the fundamentals, electron will flow ceaselessly and investment will certainly follow. The Magodo and Ikeja GRA examples demonstrate service improvements when appropriate tariff is allowed.

Adesina talking about supply of power anymore. That is because they went through that transition, it was rough, it was challenging, but they were able to overcome those teething problems Are you saying Nigeria needs to have 26,000MW now for us to enjoy power supply 24 hours every day? Let me take a step backward, for any nation that truly has the desire to generate, transmit and distribute 26,000 megawatts, what you should actually be producing about 30,000 megawatts. The global best practice is to build redundancies into your plan. That is to build more than the required capacity to cater for breakdown, repairs, exigencies of gas infrastructure, turbines, lines, breakers, sub-stations, feeders and transformers. Invariably, you recognize real and potential losses and make provisions for this in your master, here is something we call the aggregate technical commercial and collection loses. When you generate electricity and you take it from one point to another, you lose some quantity in between. So invariably, if you don’t generate more than what the system requires, it means that some customer will still suffer lack in that nation. So, what you typically would do from a gas perspective is to ensure that you produce enough gas, daily consumption, daily production of 30,000 megawatts. And through the chain you lose different percentages based on the transmission and distribution infrastructure that is there. With that, at the end of the day, everybody, every home, business, industry has stable electricity in Nigeria. With what you have explained, if there is a segment in the society that can’t pay the existing charges what do you suggest? The key question that needs answers is whether the cost of services in the value chain is captured by the set tariff in the regulated model. As we speak today, the answer is no. One logical consequences of inappropriate pricing of any commodity is the low quality of service production. In order to deal with the issue relating the ability/ capacity to pay, the regulator crafted a model, with which has different tariff for different categories of customers classified, lightening, residential and industrial. The cornerstone of this model is that large end users pays more by cross-subsidizing for

those in another category. Unfortunately, despite their noble intentions, the tariff aimed at neither sufficient, to meet the cost of energy, is neither sufficient hospital cost of energy/service change. Investment required to secure cure the defects in the network. The net of electricity (value chain) is not working because the revenue required can’t be met by the current tariff. Because of social and public interest, it was deemed necessary that a Consumer Protection fund of N100 billion be set aside to cater for end-users. The customer with low per capital income where consumption is basic. Sadly, the sector didn’t access the fund in 2013 nor all data, to the best of my knowledge. Cost of energy is based on rate structure which can be sub divided into customer loss (N per kilo), energy cost per kilowatt/hour, deemed cost per kilowatt per month, taxes, fuel, adjustments. If the outcomes of this exercise produced a figure of say N50 per kilowatt/hour for a unit of energy but the tariff is set at N27 per kilowatt hour. It will be impossible for such service providers to guarantee quality service. Let me quickly say the tariff is usually high when the initial capital expenditure required to build and enhance the network is being built. After a number of years, the model recognises reduction in tariff as the investment would have begun to yield fruits. Also let me quickly share with you some facts that may be eluding the public in this debate. Have we ever calculated the cost of self-generation? Using candles for a month is more expensive than the DisCo bills. A stick of candle is N50. Assuming you use two sticks a day, it will cost you N3,100. For a household with cost of minimum of N2,000 a month, DisCos bill is still cheaper, more efficient and environmentally. When you blend today with self-generation through diesel, petrol etc, cost reflective tariff is still cheaper. The average cost of self-generation is N80/kwh, while the highest DisCo bill today is approximately N47 average. The current tariff structure is scaring away investors as the numbers doesn’t just add up. In the telecoms, the sim card was originally sold for as high as N30,000at inception, but today is it free. Some telecoms investors lost of lot of money at inception but still found their way back into the market because the fundamentals of the sector are sound. In the pricing of electricity, we have a mix of hydro and thermal generation.

You have a situation where over 50 per cent of your customers are not metered and so what they get is estimated billing. How does that estimated billing, for instance, take account of the period they have not had power supply? And you are talking about cost-reective tariff, what exactly is fair to the man who does not have a meter and you want to put on him the tariff which at the end of the day will not be fair? This is a catch question. Do we enable 24/7 electricity supply first then charge the right price later? Or we allow the right tariff to unlock the right investments that produces the right supply situation leading to happiness for all. My take is as a nation like all other nations, when electricity supply is stable, we should take the bull by the horn by reconstructing the tariff to stimulate investment. Metering is a measuring device that is enshrined in the capital expenditure plan of all DisCos. When the appropriate tariff is allowed, necessary investments will be unlocked as return on investments is assured. A square of expectations, obligations, responsibility and confidence is built when the input and output are directly correlated. Government is keen on building this bridge of trust with aggressive metering programs of different types being tuned and pushed. I admonish our dissatisfied customers to kindly tilt towards supporting appropriate pricing of electricity and see whether there wouldn’t be improved services. The regulators are doing a yeoman’s job in trying to maintain standard, fairness, equity, balance and ensure that there is no profiteering with the DisCos being held accountable. We all can then set relevant and well dimensioned performance agreement on which we will all be judged. Metering is a valuable tool in the hands of the DisCos for the purpose of energy accounting. We align with the need to meter all. Recently the federal government unveiled an intervention for the power sector by Siemen, which is being run from the Chief of Staff’ OfďŹ ce. Did they get the buy-in of the Discos before that intervention was rolled out? Where are we on that intervention and what are your thoughts on the intervention and its ability to make a difference to some of the issues you are having? We are very much aligned with the government in the Siemens intervention arrangement. Government is fully aware that there is a huge infrastructure gap and resources are required. Now, government part-own all these assets because government has 40 per cent stake in the DisCos. So, the solution government has come up with is a very fantastic one –Secondly, there has been ongoing conversation around it, government signed a memorandum of understanding (MoU) and that MoU is what we are trying to activate. We were meant to be going for a meeting with the Germans on how to close CONTINUED ON PAGE 29

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ADESINA: APPROPRIATE ELECTRICITY PRICING WILL UNLOCK INVESTMENTS IN POWER SECTOR the technical gap, the requirement for equipment and the total end-to- end solution they are offering. So, our own view is that an end-to-end solution makes sense. We are fully aligned with it, but the conversation is ongoing as we speak. The DisCos are engaged with the government to dimension the critical success factors, cast the end to end solution Siemens are offering and ultimately agree to a financing plan. The truth was that we had ample gas supply and the grid took this power and consumer experience was beautiful. The value chain held to deliver, but thereafter, the network has had to face either gas shortages, grid restrictions arising from sundry reasons. To us, the biggest obstacles to the power sector development is lack of alignment. The system is misaligned in planning, coordination and execution. To site a perfect DisCo example in terms of achievement: At Ikeja DisCo, we started our journey with Aggregate, Technical Commercial and Collection losses of 49.6 per cent, but today we have brought this as low to a historical record of 24.9 per cent! This is the most aggressive reduction in Africa and probably beyond. Also, we deployed $44 million on advanced metering infrastructure into the system by way of technology to make metering and energy management more efficient and accurate. We were deploying approximately about 300MW to 350MW at inception at Ikeja DisCo but today, we have been able to dispatch between 600MW – 700MW. Invariably, we have doubled our output to our customers and consumers alike. The revenue profile has quadrupled while the corresponding population have gone up scientifically too. Whilst we celebrate this achievement, all we care to give as a company is customer experience that brings energy to life and happiness to all parties concerned. Are you also going work with government to hand over the discos to Siemens? Government never said that. The government of Nigeria is responsible; they know the implication of such very strange decision. So, I can say without a doubt that government intention is for us to partner with Siemens in closing the technical gap in the system, it is not to hand over. Siemens doesn’t own, neither do they manage any generation, transmission, or distribution asset anywhere in the world. And it is not in their plan, we have had meetings with them. It is not in their plan either to come and take over. Can you conďŹ dently say that the discos have risen up to the challenge given the population explosion? I will revert to my value chain comment earlier made. The performance of one is dependent on the performance of the other. The gas supplier can’t lay claim to success without the generation companies readily taking the has to convert to power which the Transmission company must evacuate to the DisCos. Should anyone drop the baton in this perpetual relay race, there would be light. I will give you examples that will depict the daily realities of the sector. At Egbin, we met about 400MW to 450MW and available and operable capacity. We aggressively invested to recover the full capacity of 1,320MW. If you recall, at the onset of this administration, we were generating and supplying to the grid 1,100MW (which euphemistically was ascribed to body language of President Buhari. When we took over this asset, what was the number of customers? What level of energy were we receiving as an organisation? How many meters did we inherit? What was the gap? What have we done to close the gap? Now, there is something I need to stress here, which I will want to resonate to everybody. Electricity supply is a value chain and that value chain is not just grammar, it is actually symbolic of what really happens in that chain. What is it I am speaking to here? If the gas man shuts his valve and he is supplying no gas, as I am currently experiencing in my generation side today in Port Harcourt; If the gas man says he is not going to give you gas today, everybody in the value chain, either as a Genco, as a transmission company, or Disco, can’t get power. You probably would have observed in the last three weeks or so that the electricity has been bad. You know why? It is simply because of the gas constraint. So, when you have gas supply constraint, or you have transmission, having high frequency, energy, for it to flow in an uninterrupted manner, there is a level it needs to operate, which is the equilibrium. The moment any generation company shuts down, like Egbin that is meant to be doing 1320 megawatt but is currently doing about 700MW or 600MW and something, the moment there is a trip in any of the machine and we lose 220MW, the entire system feels it. You won’t have that equilibrium any more. Now

Adesina you are going to have a spike in frequency, once you have a spike in frequency, it means that they have to find a way to quickly rebalance the system to ensure that stability is maintained. And that is why you hear of system collapse. When I am ready to generate 6,000MW, and the transmission infrastructure couldn’t take it, there is wrong movement in the system, the system goes down. Now, it is because of the fact that two things have happened: You have social media now, that is making you hear of the system collapse. Nigeria has not really operated at the full level we should energy wise from time immemorial. It is not a recent thing; it is not us. Under our management, with private sector coming in, Nigeria moved from 3,000MW to 5,700MW. And it is the same private sector that is being vilified. When we took over Ikeja Disco, we were receiving 280MW and 300MW of power. Today, we are receiving close to 700MW of power. So, invariably we are selling more power than we were selling in 2013. So, we are deploying more energy, but because of the fact that the population is increasing as well and the infrastructure is decaying arising from the fact that the investment required to make the system work has not been triggered, arising from inappropriate pricing. So, everybody needs to understand how holistic and how joined together this entire thing is. You cannot remove your liver from your kidney and expect to function optimally, it is impossible. But, what we are trying to do is to dismember the heart, the kidney and the liver and still expect optimal performance from the individual, it is not going to happen. So, that is why I have recommended timelessly that everybody must speak from an integrated perspective without vilification, without ego trips, without insulting anybody, but just stepping back to say, can we truly audit how we got to where we are and what we need to do to fix it. Talking about ďŹ xing it, I am aware that the Disco model was brought in from New Delhi. What are those things they have done there that made it to succeed that we are not doing here? At the point in time when you plant a seed, you don’t see a tree, you don’t even see anything. So, it takes a while. The first thing I am imploring is please understand and be patient with us, empathize with us. Nigerians we are, we are not foreigners, few people can love this country the way we love this country. We truly paid for these assets, we paid $135 million to acquire these assets. That is not a free money. If we had fixed that money in 2013, we will not have $135 million now. You and I know that we would be richer. So, out of trust, out of faith, out of confidence and believe in the system, we made investment. Now, the New Delhi model is not a model that just happened over night, it took 13 years for the New Delhi model to transform the society and now it is being celebrated. If you give birth to a child, the child is not going to make first class in year one. You have to train that child, expose that child to the elements of excellence and expect and hope that he will turn out well. That is where we are. In the last couple of months, government, World Bank, AfDB etc. have been having meetings on the Power Sector Recovery Plan and Performance Improvement Plan with each of the DisCos. The essence of the plan is to close the infrastructure gap to ensure steady supply of energy. It’s all encompassing with regards to the technical, commercial, financial, regulatory/legal

and corporate governance structure. Metering is a critical component of this plan. It is instructive to note that renewable/alternatives, Risks Profile and allocation are in this plan. So, all that we want is an alignment. We want an integrated arrangement; we want a unified approach in solving this problem. We are deeply sorry to all our customers in Nigeria for the level of service that they have received yet, it is a journey and not a destination but we are promising that we will most definitely stand on our honour, we will make power available to all those that can pay and those who will pay. So, for our consumers, we are pleading with them to pay for this power. To the gas supplier, we appeal to them to give us more gas, the generation company want to generate more power. To the government please empathise and align with us, we want to succeed, help us to succeed. To the regulator don’t let us die before our time, our intention is to be in business forever and it is to improve the system. We appreciate the President of the federal republic of Nigeria, the Vice president, the National Assembly that they would not promulgate laws that will be inimical to our business survival. But the way consumers see it that discos are deliberately spurning on the prepaid meter just so that they can continue with the estimated billing to recover cost since you talked about appropriate pricing? Let me tell you something that our businesses universally work with by way of principle, it is called the going concern principle. As a going concern would, you wouldn’t want to be earning revenue you didn’t work for. No! That is because really what it does is that it exposes your organisation to the vagaries of staff going against you to steal from your consumer. I want to be able to truly account for the energy I have given you as against the meter I have read and the payment you have made. When all of them align, then I am in business. But if I am using estimated billing long-term then I am stealing from you. I cannot meter you when the price of the commodity I am selling to you is not covering my cost Have you considered the option of allowing these household pay for the meters upfront just like some Discos do? And secondly you talked about funding, what happened to all the interventions from the Central Bank of Nigeria to the power sector? I need to speak to something very quickly here. A meter is just a calibrator. Now if somebody has a value system issue, he has no integrity, the person can bypass that meter. Part of the challenges I need to bring to you, we suffer significant energy bypass and energy theft, it is about 41 per cent. Now, you acquire an infrastructure that you deemed would solve your problem of revenue and assure revenue to you. So, you now have 41 per cent of your customers who are consumers, so they are free riders, they are consuming your power but they are not paying for it. And yet you have meters given to them, but the clever ones have been able to bypass the meter or they are conniving with whoever that gives them the access to electricity. That simply means that in the pricing of that commodity because of the vigilance and monitoring is required for me to ensure that people that bypass don’t bypass, this is a cost to you the consumer must pay. You see, there is a cost

structure associated with electricity supply, in that cost structure you find gas, generation, transmission and distribution. Now, the distribution side of it which is what you want me to speak to is that the cost there includes but not limited to metering, bill, monitoring, cash collection, transformer, lines, the feeder, the substation, all those represent the cost. Now, if we have built this huge humongous infrastructure, for us to validate the energy you have received and the revenue we are receiving, when my revenue is not commensurate with the energy we have dispatched, there is a problem. What that simply means is that there is an additional cost required of me to be able to get it right. At the point of takeover, we did what we call smart metering. What was that smart metering? This is an intelligent meter that is linked to a software where we can remotely monitor and observe the operations of the meter. But some of the problem that we now have to face is this – and this is the crux of the matter. You have a consumer who is consuming just N2,000 worth of energy every month. What is the cost of meter? N36,000 for a single Phase from the regulator. So, for the man that is paying N2,000 every month, how long will it take for us to recover that N36,000 meter we have given him? That’s one. we need to install that meter, there is a cost associated with it. When you do the mathematics, you are now asking yourself a question, should we actually meter everybody? Or can we find a middle of the road approach to the customer who can’t pay cost reflective tariff and whose bill every month is so low that buying a meter for that single customer may not make sense? So hence what do we do? We go to the regulator. So, from the economic point, we can meter everybody and we collect our money. But the social man in us will say okay, am we being fair to somebody who is paying N2,000? Bulk metering may be the solution. Whilst others might advocate cheap meters, we advocate for quality material to give quality service sustainably. Long term us, we will always start trainings, immediate and short-term gains. Let’s cure the ailment permanently, rather than kick the can down line. All things considered, given our commitment to the power sector and our resolve to bring energy to life in Nigeria, Ikeja Electric plans to inject N15 billion into our metering project towards realising our target of metering 250,000 customers by 2021. We are highly committed to this project. We are told that the country has installed and available capacity of 13,000MW, can transmit 7,000MW, but that the Discos are only able to transmit 3,000MW, why the gap? Simply, why can’t we transmit the 13,000MW? Have you seen any electricity system in the world with 45 per cent losses between generation and transmission before? My point is that we have fundamental challenges we are not addressing, but continually looking for scapegoats to blame. Root cause analysis will show us the missing links rather than reducing the argument to numbers which don’t add up. As investors, we naturally will like to sell more to make more. If we are not selling more, as alluded to by different commentators, does that not tell you that there exist a mismatch that needs to be addressed? You sometimes hear of briefcase companies, e.t.c, that took over the assets. Before closing out on this question, I need to commend the efforts of the current Managing Director and leadership of Transmission Company of Nigeria, as we have witnessed positive trajectory in transmission projects. But alignment is required across the value chain for there to be light. All that Nigerians want is light, not excuses or stories. We should be allowed to give light to the people. Finally, what is the way forward? We can achieve far much as a nation if we apply intelligent coordination of skillsets, experience, expertise, feedback and resources rather crippling what we have. We must process the vast stores of data and meaningfully analyze them to make decisions rather than relying on emotional knee jerk solutions which over time will waste valuable time and resources. There should be an advocacy for behavioral economics to be used to improve policy Regulatory interventions should be focused on improving the customers access to energy and suppliers’ access to liquidity and sustainability. We must explore the critical strategic drivers that will create value for everybody. Imagine if all homes in Nigeria have access to affordable energy. Our role as market participants is to convert that imagination to reality. We have a duty to man and our God to make impactful energy a legacy beyond our time. Nigeria must be electrified.

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Olasubomi Balogun: Legacy of Excellence, Lifetime of Impact endowment, he didn’t want me to spend it on myself. He wants me to use it for the upliftment of my neighbours. And my neighbours are not just my family or domestic staff. Everyone is my neighbour. I will pass through this world but once. Any good I can do, let me do it now. That’s what drives me�.

Maduabuchi Ubani It is not always that you find the prized virtues of humility and selflessness domiciled in a single individual of outstanding means and affluence, a blue blood modestly defined. There is no better way to describe it than divine grace, a specie specially dispatched from above. The impact is not only far reaching, but the evidence is also enduring. Otunba Michael Olasubomi Balogun readily comes to mind when the issues of impactful living via philanthropy, thoughtful philosophy, and visionary entrepreneurship are mentioned in Nigeria. He belongs to that rare class, who by inspiration, birthed solid institutions that have stood the test of time. It is in this sense that you cannot discuss the Nigerian banking sector today, especially impactful enduring banking without due credence to First Monument Bank (FCMB). That premium banking brand remains a testament to his entrepreneurial ingenuity and monumental contributions towards the nation’s economic growth and development. Aside helping the regulatory agencies in realising their fiscal and monetary policies aspirations, FCMB is a key service provider to the Nigerian banking public and an employer of labour. It is a pride of an institution that globally plays its role in elevating Nigeria’s corporate reputation. All of these would not have been if the Olori Omo-Oba Akile Ijebu did not envision, and beyond envisioning, work in both clement and inclement weathers. The man himself has shared his personal experiences in published books and memos how for example, the timing was not just ripe, or supposedly so for the regulatory agencies to give at that time, a banking license to an individual. But he never deterred. Clarity from his vision and dogged determination ensured he withstood all opposition, eventually receiving the licence to operate a bank. The rest, like they say, is history. FCMB today has taken its place, a frontline place and as a strategic contributor to the economy of the country. For this Nigerian patriot, a visionary, first class banker, foresighted entrepreneur and humanist, the month of March is unique, being the month of his birth. At 86 this month, Olasubomi Balogun remains a philosopher king, a moral force, a father figure and a true patriot who has built bridges across ethnic barriers, helping to entrench the spirit of oneness in the country, and never discriminates. As a respected community leader, he is very much appreciated because he has made his life and impact felt in his community as well as other communities in Nigeria. Truly, as a leading philanthropist, he has touched lives and restored destinies, by giving to worthy causes. A pioneer role model, he has distinguished himself in many ways, and cultured generations of Nigerian entrepreneurs on excellent business ethics, replete in his business mantra-The Culture of Excellence. Aside FCMB, other firms in the full stable include CSL stockbrokers, Credit Direct Limited, FCMB Pensions Limited, FCMB Capital Markets Limited (FCAM), among many others in different sectors, all owing their existence to the ideals of this man. As much as these organisations command respect in different sectors and fields, their collective success has not in anyway, made the man stop working. The grand master of the Nigerian financial services sector, remains on the spot of action, driving growth, motivating commitment, creating leaders, gathering souls for the Lord, call him an evangelist, if you so desire, though he shies away from this fact, you have not made a mistake. Recapping the highlights of this life of purpose and the celebration could be understood from different perspectives. Family background Speaking about his family background, Balogun said: “I was born in Ijebu-Ode. I can’t deny that I am from a notable family in Ijebu. I happen to be a primus inter pares among royalties. I’m a direct descendant of the Awujale (king of Ijebuland) who had the courtesy of receiving representatives of the British Queen in 1892. And he allowed them to preach Christianity, which was unheard of then. “Anyone, who tried to preach Christianity before 1892, was driven away with Oro (a Yoruba deity). But my own progenitor allowed that to be done. He even allowed some of his children to be christened and gave them the land on which the first church in Ijebuland was built. Only he

A rare example Otunba replied to an inquiry, “During the opening of a children ‘s ward in honour of my mother with many top dignitaries who were present, we saw a taxi driver screech to a stop in front of us. A woman, who was about to get down from the taxi delivered a baby in our presence. I decided to adopt that child and he was named Subomi. He has just left university. He even added my name to his surname.

Balogun wasn’t partial. “He also gave the Muslims the site on which the first mosque was built. It was in commemoration of going to thank the Awujale that the idea of the Ojude Oba festival started. They were all going to the Oba’s palace to show appreciation for what he had done.� Parental pedigree “Even though my parents were affluent, they had a common touch. We didn’t put on airs. Two things I like and have a weakness for are my white dress and my white cars. Maybe it is because my parents had the opportunity of putting me on the right track When I started FCMB, I wanted it to have a solid character and integrity,� the FCMB founder said. The God factor in his life He added: “My name, Olaotan and Olaonipekun mean wealth has no end. I’m throwing myself to God for him to make me whatever he wants. And I am enjoying it. I want to thank my Maker for his benevolence to me. In all humility, I’m using this opportunity to let people know how appreciative I am for what the good Lord has done for me. I marvel at every occasion and ask why God has been so kind to me. It’s the amazing grace of God. I attribute everything to the awesomeness of God. His love for little me is awesome. I now spend most of my time talking about God as a measure of my appreciation. I will spend the rest of my life just thanking him�. Philosophy of goodness If I see someone doing something good, I would rather emulate the person than criticise him. At a point in life, I said the purest thing I want is to be close to my God and God has allowed me to do that�. My Healthy living at 80s To the glory of God Otunba said, “I still do certain things people won’t expect me to do. I still go swimming. I still wear shorts. I am a child of God. It would be wrong for me to conclude that God has concluded his work in my life. I’m throwing myself as a free agent for him to use me till the very end. And I am also praying for something very interesting. By the time I am 90, I would be praying to be 100 and I would still want to be articulate and maintain my cerebral gifts. A friend of mine once visited and asked why I still use a staircase when there is an elevator. I said I still want to be walking like a sprinter. These are my prayers and my approach to God. I talk about it as the culture of excellence at FCMB. I always want the best but I’m not arrogant about it. Rather, I am consumed with my appreciation to my God, the Almighty�. Rare philosophy about philanthropy The Forbes Magazine rated entrepreneur and benevolent philanthropist said, “when people approach me for something, even though I’m not Father Christmas, I will at least do something. I won’t send anybody away. I don’t know why I do these things. God pushes me to do it. It is not that I have an ostentatious lifestyle. I am even scared to tell you because they amaze me. I regard myself as a special agent sent by my God to do all these. I am doing a lot which I don’t like people to know. When God gave me this

Attitude to critics and criticisms He said, “Anybody who listens to critics won’t be able to do the work of God. It is not easy for somebody who is successful not to be criticised. The mere fact someone has succeeded in life would make some people not to like the person. People should humbly do what they are doing and leave the rest to God because our God sees the mind and he will continue to provide to enable us to do what we are doing for his cause�. Founding FCMB Founding FCMB Group, he revealed, “At the time we created FCMB, something was pushing me to do it. The reason was that I helped to set up another bank, which is now dead. And I thought I deserved being made the head. They didn’t want me. They said I was only a lawyer. I prayed to God. My nine-year-old boy, who is now almost 50 went to his mother and said, ‘why is daddy praying to be head of another person’s bank? Why doesn’t he start his own?’ The story is in my book. I went to the chapel and prayed, singing songs of praise.

From my chapel, I walked into my study. I prepared all the papers. A few weeks later, I set up City Securities. Luckily, the indigenisation programme came up during the military era and foreigners had to sell their shares. I was the numero uno in this country. Everybody who wanted to sell shares came to me. After that, I decided to start my own bank. People thought it was impossible. Someone said I would either end up as a multi-billionaire or go to jail. I applied. I didn’t have any foreign partner. My God was my only partner. They didn’t give me a licence initially. I went to church. I saw Alex Ekwueme. I asked my wife to grab his wife’s garment. I asked him, ‘Mr. Vice-President, what is happening to my licence? He said I should come and see him and assured me he would give me a licence. That was how I got it. And no Nigerian before then, had single-handedly set up that type of bank. Beginning his day When I wake up first thing in the morning, my wife comes in and we have a family prayer. I open-up as if I’m communicating with my earthly father. I will pour out my mind. I will pray for my wife and myself, then I will pray for my children and their families my neighbours, my friends and then the people who work with me. I do the same thing the last thing in the evening when I go to bed. Unless there is something extraordinary, by 9:30, I’m in my bed. After praying, I don’t communicate again. If you telephone me when I’m in bed, I don’t pick. But I will respond in the morning. I attend church regularly every Sunday. If I am not in the church, I would probably be worshipping somewhere.� As this rare gift marks his 86th birthday, one can only but ask God to continue to give Otunba Michael Olasubomi Balogun, the Asiwaju of Ijebu Chriatians, the grace to remain strong and healthy with the joy of the Holy Ghost for what he is doing, and his choice to serve God and humanity, the rest of his life.

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Agusto Consulting Harps on Training, Capacity Development Chinazor Megbolu Agusto & Company has stressed the need for training and capacity development, saying they help to build to shape behaviour, motivate and energises employees for better performance. The Business Development Manager, Agusto Consulting, Mr. Oluyemi Olaniyi, who, stated this in an interview in Lagos, recently, noted that the core focus of the organisation is training based on expectations of their numerous clients.

According to him, Agusto currently has over 40 classroom courses such as credit, finance, macroeconomics, banking and strategy among others. Olaniyi, pointed out the programmes could also be customised to suit all comers like, junior and senior officers as well as senior management staff. He noted that the organisation also facilitate programmes for executive management and board members as well. He explained that the capacity training was to enable employees

representing their brands are fully equipped for beneficial and efficient work output. “Capacity building helps to shape behaviour, motivates and energises employees for better performance. At Agusto Consulting, our training programmes are delivered by experienced faculty who are research analysts, financial analysts and consultants, “he said. Olaniyi, further stated that for organisations to participate, they are required to be adult professionals, adding that Agusto’s in-plant service was based on

Group Backs Jamoh’s Appointment as NIMASA DG Peter Uzoho The National Youth Council of Ogoni People (NYCOP) has expressed its support for the appointment of Dr. Bashir Jamoh, as the new Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA). NYCOP, in a letter signed by eight of its members, including the President, Dr. Young Nkpa, and the Secretary, Mr. Celestine Nkiri, which was seen by THISDAY, said it welcomed the news of Jamoh’s appointment as NIMASA DG “with renewed enthusiasm.� According to the letter, “We are particularly excited that given his established track record at

NIMASA as a highly-experienced and well-groomed maritime expert with passion for maritime security, Dr. Jamoh’s appointment represents for Ogoni people and indeed the entire Niger Delta, the opportunity for renewed sustainable economic development and environmental sustainability, together with the restoration of peaceful and beneficial development of the natural resources of which Ogoniland is endowed.� The incoming NIMASA boss, who has a PhD from the University of Port Harcourt, specialising in logistics and transport management, is also the current President of the Chartered Institute of Transport Administration of Nigeria (CIoTA). He is a member and fellow of

several prestigious national and international professional bodies The 56-year-old maritime expert joined NIMASA in 2003 as Assistant Chief Commercial Officer in charge of Eastern and Central Zones. Jamoh, who hails from Kaduna State, also holds a Master’s degree in Management from Korea Maritime and Ocean University. He also attended Bayero University, Kano 1993; Institute of Administration, 1986 Ahmadu Bello University, Zaria; and Kaduna Teacher’s College, Kaduna 1983, where he obtained Post Graduate Diploma in Management, Diploma in Accounting, and GII Teacher’s Certificate, respectively

the client’s specifications. “For our in-plant training programmes, we look forward to clients or organisations that are zealous of improving their business through trained and competent employees. We always like to engage our clients, understand their peculiar needs and align on how specific training programmes can add value, “Olaniyi said. On inadequacies and gaps, he posited that during capacity building development training, they focus on gaps and deficiencies and help proffer

solutions. “During the course of our services, we see professionals with long service, within the financial service sector who don’t understand the basics in finance, and same goes for credit and relating to their understanding of the macroeconomic climate to credit, “he said. On other sectors that requires training aside finance and credit, Olaniyi listed power, agriculture and telecommunication amongst others because of the deficiencies and gaps in the sectors. “We’re currently developing

programmes for investment professionals that will help drive investor education. Many investors in Nigeria are currently looking at alternative investments to invest their funds especially with the recent decline in interest rate, “Olaniyi said. He maintained that Agusto has been in the business of training for 27 years, training an average of 1,200 employees of big organisations yearly, under its Agusto Consulting Limited after an initial partnership with IBFCAgusto Training.

AMAC Opens Bids for Ward Projects Olawale Ajimotokan in Abuja No fewer than 180 contractors have submitted bids for the 60 Abuja Municipal Area Council (AMAC) projects spread across 12 wards in the council. The multi- million projects range from rural electrification, public health centres, rehabilitation of roads, construction of cemeteries, school fencing, water provision and upgrading of the palace of the community’s chief. Chairman of AMAC Tender Board, Mrs. Ramat Abisola Abdullahi, said during the opening bid for projects, the Council had some weeks ago, advertised the projects. Abdullahi, who is also the Council Secretary, noted that after bid opening, the technical

AMAC legislative Council, Hon. Dogara Bassa, said the proceeding was the first time that the legislative arm of the council would make appearance in the tender opening of bids for projects. Bassa, who represented the Speaker, Hon. Isah Abubakar Baushe at the occasion, commended the Tender Board for the transparency in the bidding process. He also pledged to provide the necessary legislative backing for the efficient execution of the projects. “Honestly, we are very well satisfied with the process, we will continue our oversight functions to ensure that not only the executive arm, but the contractors too should do the needful,� Dogara said.

committee of the Tender’s Board would look into the received bids and thoroughly assess them before awarding various projects to the most preferred bidders. She also stressed that the Council’s works department would supervise and ensure that the successful bidders execute the projects in line with what has been stipulated so that the rural beneficiaries are not shortchanged. “We want to ensure that the process is very transparent, in line with the 2007 Public Procurement Act, which prescribes that all the bids have to be pronounced openly in the presence of the bidders, so that everybody will be in the know. So the process is transparent,� she stressed. Also the Deputy Speaker,

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Mitsubishi L200. We call it Unstoppable. When style meets toughness The New L200 has been developed to embody the Engineered Beyond Tough keyphrase which underlined its creation. Elements making it significantly more competitive include: more powerful styling that incorporates the latest iteration of the Dynamic Shield front design concept; an enhanced 4WD system that delivers improved off-road performance, and the latest in active safety and driver assistance systems. Overall, the new model features significant refinements to the durability and reliability required by the commercial user and to the comfort and ride sought by the private user. 1. Powerful “Engineered Beyond Tough� Design The New L200 L2 20 00 0 a revitalized rev evit evi itali aliz al izeed d design g u gn nd n deerr tthe hee cconcept h once onc on cept pt “ Rock Ro ck k under “Rock So S oli lid� tth ha h hat at embodies, em mbo od diiess, both bo otth h Solid� that iinside in nsi side de a nd do out ut,, the th he full fu ull l essence ess ssen en nce and out, of its its “ “En Engiineered ed Bey ey yon o d “Engineered Beyond Toug To ugh� ug d ev vel elop elop pme ment nt Tough� development k ke eyp yp phrras asee – a toughness toug tou to ugh hn nes ess fully ffu ull lly keyphrase underpinned unde un deerp pin nn need by by en eengineering ng giin in neee eer ering eri ing prowess pr p ro ow weesss and and knowhow. an know kn owhow. owh how. Front view-The incFr F rro ont view ont on v vi iew-The ffront ro ont face f o rpo pora rate tees the the new-generation orporates “D Dyn ynamic Shield� front design yna “Dynamic concept. The high engine hood line and beefier-looking lamps located higher up give the new model a more powerful and imposing front face.

‘You would too after experiencing the thrill of driving a masterpiece engineered to conquer challenges of all shapes and sizes. With a sleek exterior and a powerful engine, you get the perfect blend of the beauty and the beast. A machine built with Nigerian roads in mind.’ Side & rear view Newly sculpted body curves with contrasting sharp lines, extended wheel flares and bright accents embody the strength of a Mitsubishi Motors’ truck and add modernity. The lighting and bumper parts become part of the tough design, framing the front and g vi isu ual al rear designs and adding visual the he restyled reesstty ylleed width. Interior is the of the th he L L2 200 00 eexpresses xprreess xp ess sses ess a inside of L200 modeerrn mo n and an nd d rrobust ob o bus ust fe eel elin in ng wi with th th modern feeling ffrram ame frame

frra am me surroundings s rrrou su ound ndiin ng gss for fo orr th tthe he he frame swit sw itch h panel pa an neell and an nd d air ai air ir outlets. out uttleets ts. A switch high hi gh q ual ua alliit ity ty loo oo ok is created cre created by high quality look soft sof so ft p pad ad m ma aterials ate er and stitching soft materials on the floor console, armrests and parking brake. 2. 4WD System Gives Enhanced All-terrain Performance New L200 4WD models are fitted with either Super-Select 4WD, which delivers optimum traction and handling characteristics for any given

Experience Mitsubishi. Visit www.mitsubishi-motors.com.ng

surface, or Easy-Select 4WD, which simplifies switching between drive modes for different road surfaces. With the addition of new drive modes, both 4WD systems deliver performa ma annimproved off-road performanc . New Off-road Mode ce Mo od de ce. Both Super-Select Sup perr-S Seelleecct and an a nd Ea Ea sy sy Both -S Sellecct 4WD 4WD systems 4W ssy yst steem ms use use a new us n w ne -Select OffOf f-ro roa ad d Mode Mod de which whi wh hic ich has ich has ha Off-road GRAV GR VEL EL, MUD/ MU D/ /S SN NO OW W, GRAVEL, MUD/SNOW, SA AND ND and and d ROCK ROC O K (in (in 4LLc 4L LLc Lc SAND only on ly y) settings. sett se tttiin ngs gs. When Wheen Wh n engaged, eng ngag ageed d, only) OfffOf f-road f-ro ad d Mod ode inte in tegr gral ally lly y Off-road Mode integrally cont co nttro ollss engine eng ngin ine power, power,, transmipowe po tra ra anssmimi controls ssio ss ion and and braking an brakin in ng to to regulate ssion the amount th am mou unt of of wheel slip and the th her ereby b maximize all-terrain thereby performance and self-extraction performance in mud or snow. Hill Descent Control Vehicle speed is electronically controlled to allow the driver to negotiate steep or slippery descents more safely and with more assurance. 3. Pickup Truck Performance & Functionality The New L200 features many detail improvements, directed

Distributed in Nigeria by

by the Engineered Beyond Tough development keyphrase, to the durability and reliability sought in commercial use and to the comfort and ride sought in private use. Braking performance and feel are improved with the use of larger front discs and caliper pistons; Ride is improved with the use ers r which whi hich ch of larger rear dampe dampers damping ng g o oil il; il; il contain more damping oil; o a 66-sp speeeed A sp A/ /T Changing to 6-speed A/T ccurrent urrreent ur nt 5 --sspeeed dA /T / T tto o from thee cur 5-speed A/T alllo ow smoother, smoo sm ooth ther, the er, more er mo m ore or re p owerful allow powerful accceele ac lera ati tion and and iimproved mp m proved acceleration refi re fineme fine fi ment me nt. nt. refinement. 40 years yea yea ears ars of of pi p ick ck-u up trucks truc tru tr ucks ks 40 pick-up Mitssub Mi ubis ish hii M otor ot ors’ s’ ffirst iirrst st 1-ton 1-t -ton on Mitsubishi Motors’ p ck pi ckup up truck trru uck k – tthe he F he FO ORTE - was OR as pickup FORTE lau lau la un nch ched ed iin n1 978 8a and nd d eexported xportted xpo xp d launched 1978 wiith h names nam n ames am es inc iincluding ncllud luding L200. with Sin Si nce then, approximately 4.7 Since million trucks have been sold worldwide. It’s a pickup truck that can handle all types of road, anywhere on the planet. It has been developed with a design brief - to meet the desire of customers for a pickup with outstanding reliability, durability and payload performance; with levels of drivability, utility, comfort and ride that are on a par with a passenger sedan. Mitsubishi Motors leveraged its experience in manufacturing Jeeps to carry out independent development of a model for off-road. Consequently, 4WD

was added to its lineup in 1980 which became the foundation for all Mitsubishi 4WD vehicles and led directly to the PAJERO/MONTERO and DELICA 4WD. The first and second generation pickups were mainly produced at Mitsubishi Motors Ohe Plant in Japa Ja pa an. Since i cce Japan. Since the thir th ird d-ge d-ge g ne nera r tion nm model odel od el iin n 19 1 1995, 995 95 95, third-generation production p pr rod odu uccttiion on hass h ha been beeen b con co nccen entr trat rated ed in ed in the th he Laem Laem La em concentrated Ch C hab ha bang Plant Pllan P la an nt in in Thailand, Tha ha ail ilan ilan and, Chabang from where fr whe w here ree they th heey are are exported ex xp po orted d from worl r wide. rldw iid de. The The model mod m od o del el an and d worldwide. ffactory acctto orry ry sserve erv rve an an iim mporta mp rtant n role rol ole important iin n global glo loba bal st sstrategic tra rate rate tegi gic plan plan of pl Mitsubishi Mi M its tsub ubis ish hii Motors. Mo ottor orss. N Ne ewl wly sc wly sculpted b ody curves od Newly body w ith h con ccontrasting ontr tra asting sharp lines, with exte ex tended wheel flares and extended bright accents embody the strength of a Mitsubishi Motors’ truck and add modernity. The lighting and bumper parts become part of the tough design, framing the front and rear designs and adding visual width. Interior - The restyled inside of the L200 expresses a modern and robust feeling with frame surroundings for the switch panel and air outlets. A high quality look is created by b soft pad materials and stitch hing on stitching the floor console, armrest ts armrests and parking brake. New L200 4WD models are fitted with either Super -Select 4WD, which

IJORA

VICTORIA ISLAND

4A Ijora Causeway, Lagos Tel: 08039070000

Plot 1090 Adeola Odeku, Victoria Island, Lagos. Tel: 08039061000

delivers optimum traction and handling. The new L200 4WD models are fitted with either Super-Select 4WD, which delivers optimum traction and handling characteristics for any given surface, or Easy-Select 4WD, which simplifies between drive switching m for different road modes su urfaces. With the addition of surfaces. neew drive modes, both 4WD new sy ystems deliver improved y systems off-road performance. New of off-road O Off-road Mode. Both SuperSeelect and Easy -Select 4WD Select sy ystems use a new Off-road systems M Mode which has GRAVEL, M MUD/SNOW, SAND and ROCK (in 4LLc only) settings. When engaged, Off-road Mode integrally controls engine power, transmi- ssion and braking to regulate the amount of wheel slip and y maximize all-terrain thereby perfo orrma anc n e and and an nd self-extraself se lf-extraperformance peerfo p rfform ma ance nce in nc in mud mu ud d or or ction performance snow w. Hill Hilll Descent Des escceent nt Control Contrro oll snow. Vehicclle speed speeed is sp is electronically elleect ecttro roni n ca all ly Vehicle contrro olled ed to o allow alllo ow the tth he driver he driv ver controlled neeg egot otiatee steep stteeep ep or or slippery ssllip slip ippeery ry to negotiate desceen nts ts more mo orre safely safe sa saf fely fel ly and and d with with descents asssu ass urra an nccee. e moree assurance.

(ABUJA)

28 Ndola Crescent,Wuse Zone 5. Tel: 09096998124, 09096998128

(PORT HARCOURT)

184B Trans-Amadi, Industrial Layout. Tel: 09096998130, 09096998143

AFTER SALES: LAGOS: 0803 907 0000 ABUJA: 0909 699 8124, 0909 699 7311 PORT HARCOURT: 0909 699 8137

MITSUBISHI MOTORS NIGERIA

MITSUBISHI_MOTORS_NIGERIA

MITSUBISHI MOTORS NIGERIA

MONDAY MARCH 9, 2020 • T H I S D AY

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MONDAY MARCH 9, 2020 •T H I S D AY

MONDAY MARCH 9, 2020 • T H I S D AY

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IMAGES

L-R: Co-founder, RED For Africa, Adebola Williams; Guest host Rubbin’Minds,Vimbai Mutinhiri; Former VP World bank African Region, Dr. Oby Ezekwesili; Founder Terra Kulture, Bolanle Austen-Peters; Waka Music Queen, Salewa Abeni and Rubbin’ Minds Host, Ebuka Obi-Uchendu during Rubbin’ Minds International Women’s day special powered by Lipton tea, 2020 in Lagos...recently

T H I S D AY Ëž ÍˇËœ Í°ÍŽÍ°ÍŽ

Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R: Executive Secretary, American Business Council, Margaret Olele; Chairman Senate Committee on ICT and Cybercrime,Dr. Yakubu Oseni and Member, House of Representatives, Honorable Chuwuemeka Ujam; during a workshop on data protection in Abuja‌recently PHOTO: KINGSLEY ADEBOYE

L-R: Associate Director, Corporate Social Responsibility, IHS Nigeria, Cima Sholotan; Director, Regulatory and Government Relations, IHS Nigeria, Bankole Falade; Honourable Minister of Water Resources, Engr. Suleiman H. Adamu; Permanent Secretary, Federal Ministry of Water Resources, Comfort Ekaro and CSR Manager, IHS Nigeria, Asmau Smaila at the Lunch time forum with private sector players in Abuja...recently

L-R: Deputy Speaker, Ahmed Idris Wase; Chairman, National Assembly Service Commission, Engr. Ahmad Khadi Amshi; and Speaker, House of Representatives, Femi Gbajabiamila exchanging pleasantries after a courtesy visit to the Speaker by the Board Members of National Assembly Service Commission at the National Assembly, Abuja...recently

L-R: Chairman, Igbo-Etiti LGC, Barrister (Mrs) Nkechi Ugwu-Oju; Governor of Enugu State, Hon Ifeanyi Ugwuanyi, and Founder, Nigeria and Entrepreneurship: Summit & Honors, Emeka Ugwu-Oju after the Swearing In Ceremony of 17 newly elected Local Government Council Chairmen in Enugu State...recently

Ogun State Commissioner for Health, Dr (Mrs) Tomi Coker (right) administering a pint of sanitizer on the National General Overseer of the Redeemed Christian Church of God, Pastor Joseph Obayemi during a sensitisation and advocacy campaign to the Redemption Camp...recently

L-R: Ekiti State Governor Kayode Fayemi and President Buhari at the State House, Abuja...recently

T H I S D AY Ëž ÍˇËœ Í°ÍŽÍ°ÍŽ

35

L-R: Group Managing Director, Afrinvest, Ike Chioke, Founder/CEO BHM Group, Ayeni AdĂŠkĂşnlĂŠ and Chairman, Afrinvest, Donald Lawson after Ayeni delivered a session on “Leveraging Marketing Insights For Positioning Afrinvest in the Next Decadeâ€? at the Afrinvest Board and Senior Management Retreat in Lagos...recently

L–R: Deputy British High Commissioner to Nigeria, Harriet Thompson; Chairman, CAP Plc. Awuneba Ajumogobia; Chief Executive OďŹƒcer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Founding Partner, Banwo-and-Ighodalo, Asue Ighodalo; Country Manager, International Finance Corporation (IFC), Eme Essien and representative of the First Lady of Lagos State, Mrs. Olamide Sanya-Olu, during a symposium to commemorate 2020 International Women’s Day Celebration in Lagos...recently

L-R: Acting Registrar of the Advertising Practitioners Council of Nigeria, Mrs. Ijedi Iyoha; Minister of Information and Culture, Alhaji Lai Mohammed; and Chairman, Board of Trustees of the Association of Advertising Agencies of Nigeria (AAAN), Mr. Steve Omojafor during a meeting between the Minister and AAAN in Lagos...recently

L-R: Lagos Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu; his wife, Ibijoke and Lagos Commissioner for Police, Mr. Hakeem Odumosu during a 3-Day Workshop on Protocol, Security and Ethics for Committee of Wives of Lagos State OďŹƒcials (COWLSO) in Lagos...recently

L-R: Secretary to the Edo State Government, Osarodion Ogie; Edo State House of Assembly member, Hon. Roland Asoro; Deputy Governor, Rt. Hon. . Philip Shaibu; and Edo State Governor, Mr. Godwin Obaseki;, at a sensitisation meeting with Edo South leaders and executive of the All Progressives Congress (APC) in Benin City...recently

L-R: Olokpe of Okpe, His Royal Highness, Oba Okhishimede Idogu III; Okuesangbe of Igueben, Chief Engr Patrick Anegbe; Ojuromi of Uromi Kingdom, HRH Anslem Odaloighe Edenojie II; Onogie of Igueben, HRH Ehizogie Eluojierior I; Ovie of Uvwie, HRM Emmanuel Sideso; Chief Mrs. Dorothy Anegbe, during the 35th coronation anniversary of the Onojie of Igueben in Igueben Edo State...recently

L-R: Abimbola Taiwo, Waheed Taiwo, Gafar Atitebi, Taiwo Odewoye, Gbenga Lawal, Adesiyan Adejare, Niyi Ashafa Lawal, Bayo Olabiyi, and Rasheed Opawuyi, all Laureates, during the Klub De Laurel of Lagos End of the Year Party in Lagos... recently

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T H I S D AY Ëž ÍˇËœ 2020

BUSINESS/MONEYGUIDE

Uduk: SECWorking on Guidelinesto Strengthen CorporateGovernance Peter Uzoho The Acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, has disclosed that the commission is currently, “working on a guideline to strengthen corporate governance of public companies in the country.� This is just as Uduk stated that the Finance Act 2020, recently signed into law by the president has removed a lot of obstacles associated with securities lending. The acting SEC boss stated this in Lagos, in her goodwill message at the 2020 annual symposium organised by the Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI), with the theme: “Nigerian Tax Laws: Matters Arising.� Uduk, who was represented

at the occasion by the Deputy Director, SEC Lagos Zonal Office, Mrs. Hafsat Rufai, said: “In order to improve corporate governance, corporate bodies are enjoined to continuously comply with the Nigerian Code of Corporate Governance Scorecard. “It is also worthy to note that SEC is working on a guideline to strengthen corporate governance of public companies.� She added that the commission remained committed to creating an environment that would enable efficient capital formation and investor protection. However, Uduk, who commended the signing into law, the Finance Act, said the, “Act has removed bottlenecks such as tax on manufactured dividends which had been a major disincentive to securities lending.� She added that the “Act now

permits insurance companies to carry over their tax losses like other companies, unlike in the past where they were restricted to carrying over these losses for only four years. “The Finance Act also provides that dividends paid out of retained earnings, exempted profits, franked investment income and REIS are no longer taxable and stipulates that minimum tax is amended to 0.5 per cent of turnover. “ According to her, “the changes in the Act were targeted at promoting fiscal equity, reforming domestic tax laws to align with global best practices, introducing tax incentives for investments in infrastructure and capital markets, supporting micro, small and medium-sized businesses and raising revenues for the government.�

Fidelity Commit $15m to Support Female Entrepreneurs Nume Ekeghe The Managing Director/Chief Executive of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has reiterated the bank’s commitment towards female entrepreneurs, saying it has set aside $15 million for women-led SMEs. The $15 million represents 30 per cent of the $50 million facility which the bank received from the African Development Bank (AfDB) last year. Speaking at a forum with women entrepreneurs in Lagos, at the weekend, as part of activities to mark the 2020 International Women’s Day, Okonkwo said the bank was passionate about SMEs, especially when they are women-led. Okonkwo said:

“We are very passionate about women empowerment. So, this week as part of activities towards IWD, we put together this program to connect female entrepreneurs. “This is just one of the things that Fidelity Bank does to strengthen our women program. Recently we obtained a facility of $50 million from AfDB and about 30 per cent of this is dedicated to female entrepreneurs. “We have built partnership over time with and this is why of supporting women entrepreneurs and we will continue to do that.� While noting that women are powerful and can do anything they set out to achieve, he said the bank has built structures and systems to channel low cost intervention and development funding to MSMEs including

women entrepreneurs to tame the ‘high-cost-of-funds’ challenge facing SMEs. Okonkwo, disclosed that Fidelity has so far disbursed N2.3 billion out of the N220 billion MSME Development Fund of the Central Bank of Nigeria. He said Fidelity Bank has also disbursed about N16 billion, which is about 14 per cent of Bank of Industry’s (BoI) N112 billion support to the SME segment in 2017. “We got an offer for a N28 billion on-lending line from the Development Bank of Nigeria (DBN) in 2018 for on-lending to players in key sectors. Also, about N18 billion has already being disbursed and an additional N6.8 billion already approved and awaiting completion of documentation by customers,� he added.

Nova Pledges More Support for Female-owned Businesses Hamid Ayodeji In line with the global celebration of the International Women’s Day, Nova Merchant Bank at the weekend organised a sensitisation programme with the theme: “I am generation equality.� At the forum, the bank urged women to harness their potential in contributing towards the sustainable development of the growth of the Nigerian economy, even as it pledged to continue to support female entrepreneurs. The financial service provider over the weekend pointed out that women have the ability to posses’ leadership roles in the society as well as in their places of work due

to their high level of dedication towards completing tasks; high volume of empathy, as well as the ability to carry out and execute multiple roles at a time. The General Manager, Nova Merchant Bank, Funke Okoya, said one of the ways women can effectively emerge into strategic leadership roles would require them to be able to find the best approach towards having an efficient work-life balance. According to her, “Achieving gender parity and equality would require the generation and implementation of policies in regards to gender parity both in the work space as well as in the society.� Okoya maintained, “Women

need to be empowered and placed on leadership positions because research has shown that women also have the potential to become efficient and trustworthy leaders. “As women, we need to work on building our capacity by empowering ourselves with the right knowledge and skills so as to be able to mount leadership roles effectively.� On her part, Medical Officer, Marina Medical Health Management Organisation, Dr. Misturah Olowookere, explained that, “Women need to pay attention to their mental health in order for them to be able to tap into their maximum capacity as health is wealth.

Unity Bank Introduces USSD in Nigerian Languages Unity Bank Plc has launched an Unstructured Supplementary Service Data (USSD) banking in Nigeria’s three major languages – Yoruba, Hausa and Igbo. This, according to a statement, makes the bank the first Nigerian commercial bank to offer USSD in a local language. USSD transactions have gained traction over the past five years among bank customers, compelling Nigerian financial institutions to make it a core component of their e-payment solutions. “The introduction of Nigerian

languages is an added feature to the Unity Bank’s USSD Platform and by dialling the Short Code: *7799# on any mobile phones, Unity Bank’s customers will now have the option to continue their transactions in any of their preferred languages. “The upgrade in the features of the transaction the platform is part of Unity Bank’s initiatives aimed at achieving an optimal level of interaction on the USSD banking channel. “It is targeted at market segments at the lower level of the

pyramid intended to drive greater financial inclusion in the country as well as deploy more solutions for fast, efficient and convenient banking, whilst targeting the underbanked�. Commenting on the initiative, the Group Head, Retail, SME & E-Business, Unity Bank Plc, Olufunwa Olugbenga Akinmade said the solution would boost the existing e-payment channels available to the bank’s customers to further drive customer experience.

L - R: Regional Managing Partner, West Africa, Ernst & Young (EY), Mr. Henry Egbeki; President, Coscharis Group, Dr. Cosmas Maduka, and Deputy Governor, Lagos State, Dr. Femi Hamzat, at this year’s EY Entrepreneur of the Year Award where Maduka won the Master Category as Entrepreneur of the Year, held in Lagos‌recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT WEDNESDAY, 4 MARCH 2020

The price of OPEC basket of fourteen crudes stood at $51.74 a barrel on Thursday, compared with $51.99 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), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

37

T H I S D AY Ëž ÍˇËœ 2020

MARKET NEWS

Access Bank Records N115bn Profit, Recommends 40k Final Dividend Goddy Egene Access Bank Plc is still savouring the benefits of its decision to merge with former Diamond Bank Plc as the lender recorded improved performance in the year ended December 31, 2019. The merger process concluded in April last year and going by the audited results, shareholders of Access Bank Plc are getting a better deal. The bank posted gross earnings of N576.348 billion,

showing an increase of 32 per cent, from the N435.743 billion recorded in 2018. Net interest income increased jumped 59 per cent from N173.578 billion to N277.228 billion in 2019, while net fee and commission income rose from 42 per cent from N52.495 billion to N74.647 billion. Access Bank Plc ended the year with a profit before tax (PBT) of N115.378 billion, up by 11.8 per cent, compared with N103.187 billion in 2018.

P R I C E S MAIN BOARD

F O R DEALS

However, the jump of 117 per cent in taxation from N8.207 billion in 2018 to N17.868 billion in 2019, made the lender to close the year with slower growth in profit after tax(PAT). Specifically, PAT rose from N94.981 billion to N97.509 billion. The board of directors recommended a final dividend of 40 kobo compared to 25 kobo paid the previous year. The total dividend will come to 65 kobo have paid an interim dividend of 25 kobo before now.

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

A further analysis of the performance indicated that the Access Bank brand is appealing to more customers as deposits rose 66 per cent from N2.565 trillion to N4.255 billion. Loans and advances improved from N142,489 billion to N152.825 billion, while total assets grew 44 per cent from N4.956 trillion to N7.146 trillion. The Group Managing Director/CEO of Access Bank Plc, Mr. Herbert Wigwe

T R A D E D MAIN BOARD

A S

had last November that the financial institution had been delivering robust performance in post merger, despite a challenging and fast-changing macro and banking landscape. According to him, this further reinforces the bank’s sustainable business model and brand promise to deliver more to all stakeholders as we work to realise the envisioned synergies of merger. He said the deliberate investments in expanding

O F

its digital lending portfolio resulted in higher daily volume disbursement, putting Access Bank in the forefront of digital lending. “Going into the last quarter of the year, our focus remains on consolidating our retail momentum and driving financial inclusion. Furthermore, we will remain disciplined in our efforts to deliver enhanced shareholders’ value,with a focus on offering more than banking,� Wigwe had said.

0 6 / 0 3 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

˾ MONDAY, MARCH 9, 2020

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THISDAY AFRINVEST 40 INDEX

ŽƵƌƐĞ͙ ^/ ƵƉ ϮϰďƉƐ ǁͬǁ

dŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ŽƉĞŶĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ŶĞŐĂƟǀĞ ŶŽƚĞ͘ ,ŽǁĞǀĞƌ͕ ŝƚ ƌĞďŽƵŶĚĞĚ ŽŶ ƚŚĞ ĨŽůůŽǁŝŶŐ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

THISDAY AFRINVEST 40

ďĞĨŽƌĞ ƌĞĐŽƌĚŝŶŐ ƐƵĐĐĞƐƐŝǀĞ ŐĂŝŶƐ ŽŶ tĞĚŶĞƐĚĂLJ ĂŶĚ dŚƵƌƐĚĂLJ͘ EŽŶĞƚŚĞůĞƐƐ͕ ƚŚĞ ŵĂƌŬĞƚ ƐŚĞĚ ƐŽŵĞ ŽĨ ŝƚƐ ŐĂŝŶƐ ŽŶ &ƌŝĚĂLJ͕ ďƵƚ ĞŶĚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ŐƌĞĞŶ ŶŽƚĞ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ůů-^ŚĂƌĞ ŝŶĚĞdž ƌĞĐŽƌĚĞĚ Ă ŐĂŝŶ ŽĨ Ϭ͘Ϯй ǁ-Ž-ǁ ƚŽ Ϯϲ͕Ϯϳϵ͘ϲϭ ƉŽŝŶƚƐ͕ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ UAC-WZKW ;нϮϮ͘ϵйͿ͕ h E ;нϭϴ͘ϵйͿ ĂŶĚ > thE/KE ;нϭϲ͘ϳйͿ͘ ůƐŽ͕ zd ůŽƐƐ ƐƚŽŽĚ Ăƚ -Ϯ͘ϭй ǁŚŝůĞ ŝŶǀĞƐƚŽƌƐ

Price Previous Current Change Price Weightin YTD Change g

Price Change Index to Date

1,118.63

-1.13%

-23.8%

11.9%

1 MTN Nigeria Communications PLC

115.00

0.0%

31.2%

9.5%

5.5%

2 Airtel Africa PLC

298.90

0.0%

15.0%

0.0%

0.0%

ROE

ROA

12.9%

4.6%

P/E

P/BV

Divindend Earnings Yield Yield

4.4x

0.6x

7.0%

18.6%

11.6x

16.2x

4.4%

8.6%

3.6%

3 Guaranty Trust Bank PLC

24.60

-1.2%

9.6%

-17.2%

-15.8%

31.6%

5.5%

3.5x

1.1x

11.3%

28.3%

4 Zenith Bank PLC

18.80

-6.0%

7.0%

1.1%

0.5%

23.8%

3.4%

2.8x

0.6x

14.0%

35.4%

1,017.00

0.0%

3.6%

-30.8%

-30.8%

95.4%

25.7%

17.6x

17.7x

6.2%

5.7%

170.00

0.0%

5.7%

19.7%

19.7%

21.6%

11.7%

14.4x

3.3x

10.0%

6.9%

7 Access Bank PLC

8.50

-3.4%

3.9%

-15.0%

-15.8%

22.7%

2.2%

2.1x

0.5x

5.7%

46.8%

8 United Bank for Africa PLC

6.90

-3.5%

2.9%

-3.5%

-4.2%

16.2%

1.6%

2.7x

0.4x

14.3%

36.5%

5 Nestle Nigeria PLC 6 Dangote Cement PLC

5.35

-7.0%

2.5%

-13.0%

-17.7%

10.3%

1.0%

3.7x

0.3x

4.8%

26.9%

10 Nigerian Brew eries PLC

40.80

0.0%

2.0%

-30.8%

-30.8%

9.6%

4.2%

20.3x

1.9x

4.9%

4.9%

11 Lafarge Africa PLC

13.65

-2.5%

2.6%

-10.8%

-1.1%

50.3%

23.4%

13.7x

0.6x

605.00

0.0%

2.4%

-8.0%

2.2%

14.4%

9.5%

3.9x

0.5x

6.6%

25.7%

13 Stanbic IBTC Holdings PLC

35.00

-2.0%

1.9%

-14.6%

-12.5%

27.3%

4.1%

5.0x

1.2x

8.6%

20.0%

14 Flour Mills of Nigeria PLC

22.00

0.0%

1.2%

11.7%

11.7%

3.6%

1.3%

17.1x

0.6x

5.5%

15 International Brew eries PLC

7.05

0.0%

0.8%

-25.8%

-25.8%

-114.4%

-7.5%

16 Ecobank Transnational Inc

5.85

-9.3%

0.9%

-10.0%

-10.7%

13.8%

1.0%

1.9x

0.3x

ǁĞƌĞ 'h Z Edz ;Ϯϳϳ͘ϰŵ ƵŶŝƚƐͿ͕ E/d, ;ϮϭϬ͘ϵŵ ƵŶŝƚƐͿ

17 Fidelity Bank PLC

2.00

0.0%

0.8%

-2.4%

-1.0%

13.4%

1.5%

2.0x

0.2x

146.50

10.0%

ĂŶĚ h ;ϭϯϭ͘ϱŵ ƵŶŝƚƐͿ ǁŚŝůĞ 'h Z Edz (േϲ͘ϲďŶͿ͕

0.7%

-0.9%

-0.9%

24.1%

10.9%

6.0x

19 Okomu Oil Palm PLC

61.40

0.0%

0.7%

10.4%

10.4%

19.1%

13.5%

10.6x

20 Dangote Sugar Refinery PLC

11.00

0.9%

0.5%

-19.1%

-21.4%

19.6%

11.6%

6.5x

ŐĂŝŶĞĚ േϯϳ͘ϰďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ƚŽ േϭϯ͘ϳƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ĂĚǀĂŶĐĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭϳ͘ϯй ĂŶĚ ϳ͘Ϯй ƚŽ ϯϲϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ േϱ͘ϮďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ŵŽƐƚ ĂĐƟǀĞůLJ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ

9 FBN Holdings Plc

12 SEPLAT Petroleum Development C

18 11 PLC

E ^d> (േϱ͘ϭďŶͿ ĂŶĚ E/d, (േϰ͘ϭďŶͿ ůĞĚ ďLJ ǀĂůƵĞ͘

^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ ĂƐ ϰ ŽĨ ϲ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ŐĂŝŶĞĚ͘ dŚĞ ĂŶŬŝŶŐ ;нϯ͘ϴйͿ ĂŶĚ &Z-/ d ;нϭ͘ϴйͿ ŝŶĚŝĐĞƐ ůĞĚ ŐĂŝŶĞƌƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ & E,

21 Transnational Corp of Nigeria

^ŝŵŝůĂƌůLJ͕ > thE/KE ;нϭϲ͘ϳйͿ ĂŶĚ DK /> ;нϭϬ͘ϬйͿ ĚƌŽǀĞ ŐĂŝŶƐ ŝŶ ƚŚĞ /ŶƐƵƌĂŶĐĞ ;нϭ͘ϰйͿ ĂŶĚ Kŝů Θ 'ĂƐ ;нϬ͘ϴйͿ ŝŶĚŝĐĞƐ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ ϱ͘ϵй ĂŶĚ ϰ͘ϯй ǁͬǁ ƌĞƐƉĞĐƟǀĞůLJ͕ ŽǁŝŶŐ ƚŽ ůŽƐƐĞƐ ŝŶ hE/> s Z (-ϭϯ͘ϯйͿ͕ E ^d> (-ϭϬ͘ϬйͿ ĂŶĚ t W K (-ϭϭ͘ϵйͿ͘

ƌĞĐŽƌĚĞĚ ůĂƐƚ ǁĞĞŬ ĂƐ ϯϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ƚŚĞ Ϯϰ ƚŚĂƚ ĚĞĐůŝŶĞĚ ǁŚŝůĞ ϴϳ ƟĐŬĞƌƐ ĐůŽƐĞĚ ŇĂƚ͘ UAC-WZKW ;нϮϮ͘ϵйͿ͕ h E ;нϭϴ͘ϵйͿ ĂŶĚ > thE/KE ;нϭϲ͘ϳйͿ ůĞĚ ƚŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ǁŚŝůĞ hE/> s Z (-ϭϯ͘ϯйͿ͕ t W K (-ϭϭ͘ϵйͿ ĂŶĚ E ^d> (-ϭϬ͘ϬйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ tĞ ĂŶƟĐŝƉĂƚĞ Ă ŵŝdžĞĚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ĐŽŵŝŶŐ ǁĞĞŬ ĂƐ ǁĞ ĞdžƉĞĐƚ ďŽƚŚ ƉƌŽĮƚ ƚĂŬŝŶŐ ĂĐƟǀŝƟĞƐ ĂŶĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ƚŽ ĚŽŵŝŶĂƚĞ

53.5% 5.5%

49.6%

1.3x

5.6%

16.8%

2.0x

5.1%

9.4%

1.3x

10.0%

15.3%

1.1x

11.1%

0.85

-5.6%

0.4%

-14.1%

-20.6%

-3.7%

0.3%

-40.9%

-37.2%

-5.6%

-3.5%

23 Guinness Nigeria PLC

25.20

0.0%

0.4%

-16.1%

-16.1%

4.9%

2.6%

13.1x

0.6x

6.0%

7.6%

1.85

2.8%

0.4%

0.0%

1.6%

9.2%

1.1%

2.1x

0.2x

7.6%

48.1%

24 FCMB Group Plc

1.2% -5.7%

25 Sterling Bank PLC

1.56

4.0%

0.3%

-21.6%

-17.9%

10.0%

0.9%

4.1x

0.4x

26 UAC of Nigeria PLC

8.80

-2.2%

0.3%

2.3%

-1.1%

-9.6%

-4.1%

2.5x

0.6x

7.3%

40.5%

27 Custodian and Allied Insurance

5.45

0.0%

0.3%

-9.2%

-9.2%

17.5%

7.0%

5.6x

0.7x

8.3%

17.9%

44.90

0.0%

0.2%

-5.5%

-5.5%

15.9%

6.4%

11.3x

1.7x

4.5%

7.05

2.9%

0.3%

17.5%

16.5%

7.0%

1.1%

7.9x

0.9x

107.00

0.0%

0.2%

-3.5%

-3.5%

8.8%

2.0%

13.9x

1.3x

2.70

0.0%

0.1%

-32.3%

-32.3%

14.5%

2.6%

1.2x

0.2x

29 Union Bank of Nigeria PLC 30 Total Nigeria PLC 31 Oando PLC

24.3%

8.9% 12.7%

13.1%

7.2% 86.0%

32 NASCON Allied Industries PLC

13.00

0.0%

0.2%

0.4%

0.4%

16.5%

5.8%

18.1x

3.1x

7.8%

5.5%

33 Julius Berger Nigeria PLC

22.40

0.0%

0.2%

12.6%

12.6%

26.7%

3.4%

2.8x

0.7x

9.1%

36.0%

0.61

-6.2%

0.1%

-17.6%

-10.3%

9.0%

0.9%

4.9x

0.4x

4.9%

20.3%

15.30

0.0%

0.1%

-15.5%

-15.0%

7.6%

1.3%

34 Wema Bank PLC 35 Ardova PLC 36 Continental Reinsurance PLC

#N/A N/A

37 Beta Glass PLC

70.00

0.0%

0.1%

30.1%

30.1%

17.1%

11.2%

62.50

0.0%

0.1%

0.0%

0.0%

-12.1%

-3.8%

39 AXA Mansard Insurance PLC

1.68

0.0%

0.1%

-15.2%

-15.2%

10.3%

2.8%

40 Transcorp Hotels Plc

4.05

0.0%

0.0%

-17.3%

-17.3%

Vo lum e

P ric e C hg %

Z EN IT H B A N K

85.8

GUA R A N T Y

44.0

UB A

6.4x

-9.9%

7.3x

1.2x

2.1%

15.7%

1.5x

-7.0%

0.7x

13.7%

38.2x

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

1.1x

0.0%

38 Notore Chemical Industries Ltd

1.7%

2.6%

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

P ric e

P ric e C hg %

-6.0%

M OB IL

146.50

10.0%

-1.2%

LEA R N A F R C A

1.11

9.9%

34.9

-3.5%

R ED ST A R EX

3.27

9.7%

A C C ESS

24.7

-3.4%

M A YB A KER

2.15

9.7%

F ID ELIT YB K

22.8

0.0%

UA C -P R OP

1.02

9.7% 9.5%

UC A P

14.1

0.0%

NP FM CRFB K

1.04

WA P C O

10.4

-2.5%

CHA M S

0.24

9.1%

FB NH

10.3

-7.0%

A B CTRA NS

0.31

6.9%

CHA M S

10.0

9.1%

LA WUN ION

1.05

6.1%

A F R IP R UD

10.0

-1.9%

LA SA C O

0.24

4.3%

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

ƚƌĂĚĞ͘ ͘

Afrinvest West Africa Limited

5.8% -39.9%

13.00

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϰdž ĨƌŽŵ ƚŚĞ Ϭ͘ϭdž

6.3x

22 Unilever Nigeria PLC

28 Presco PLC

;нϭϯ͘ϴйͿ͕ t D E< ;нϭϯ͘ϬйͿ ĂŶĚ DdEE ;нϰ͘ϱйͿ͘

7.3%

T o p 10 L o s e r s

T ic k er

Value

P ric e C hg %

P ric e

P ric e C hg %

Z EN IT H B A N K

1653.5

-6.0%

T ic k er OM A T EK

0.37

-9.8%

GUA R A N T Y

1080.1

-1.2%

ET I

5.85

-9.3%

UB A

242.7

-3.5%

FB NH

5.35

-7.0%

A C C ESS

214.6

-3.4%

WEM A B A N K

0.61

-6.2%

N EST LE

154.3

0.0%

Z EN IT H B A N K

18.80

-6.0%

WA P C O

142.6

-2.5%

T R A N SC OR P

0.85

-5.6%

M TNN

102.6

0.0%

H ON YF LOUR

0.96

-4.0%

ST A N B IC

102.2

-2.0%

UN ILEVER

13.00

-3.7%

M OB IL

62.8

10.0%

UB A

6.90

-3.5%

D A N GC EM

56.3

0.0%

A C C ESS

8.50

-3.4%

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

Brokerage

39

MONDAY, MARCH 9, 2020 ˾ T H I S D AY

MARKET NEWS

Meristem Advises on Financial Planning, Wealth Management Goddy Egene The Deputy Group Managing Director, Meristem Securities Limited, Mr. Sulaiman Adedokun, has stressed the importance of comprehensive financial planning and wealth management, saying Nigerians

should embrace them to ensure a desired retirement life. Adedokun, who spoke at a forum in Lagos, harped on the importance of retirement planning, tax planning, will writing and trusteeship. According to him, people do not want to discuss retirement because

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

of the illusion of “ever-presence, the pressure of time and not close to retirement.” He said the four big risk about retirement planning are: longevity, which is the risk of outliving your assets; flexibility, which is the risk of not being able to access your assets at

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 05Mar-2020, unless otherwise stated.

required or on death; inflation, which is the risk of your income falling in real terms’ and volatility, which is the risk of volatile investment returns impacting your income. He stressed that in order to manage the risks for a wonderful retirement, people must understand

their assets and future sources of income. For instance, various pension pots, investments, property equity and state pension. “People should assess and articulate their needs through retirement, acknowledging that these will change over time. Make

choices about which objectives are most important and understand the risks they are willing or need to take in order to have the best chance of meeting these objectives. Investigate and understand the array of financial options available for them to match Steps above,” Adedokun said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.89 0.90 6.05% ACAP Income Funds 0.76 0.76 34.21% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.08% AIICO Balanced Fund 2.45 2.50 -0.45% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 5.67% Anchoria Equity Fund 98.47 98.80 -3.51% Anchoria Fixed Income Fund 1.21 1.21 5.78% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.90 15.35 -2.71% ARM Discovery Fund 341.67 351.97 -1.10% ARM Ethical Fund 29.83 30.73 2.56% ARM Money Market Fund 1.00 1.00 6.44% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 96.52 97.20 0.46% AXA Mansard Money Market Fund 1.00 1.00 6.01% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.00 2.00 23.82% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.07 0.06 7.37% Paramount Equity Fund 11.79 12.02 -5.74% Women's Investment Fund 109.62 110.47 -0.77% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.34% Cordros Milestone Fund 2023 102.78 103.39 Cordros Milestone Fund 2028 111.75 112.45 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 5.40% Coronation Balanced Fund 0.92 0.93 -1.01% Coronation Fixed Income Fund 1.41 1.41 5.82% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 5.53% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 4.64% EDC Nigeria Fixed Income Fund 1,203.20 1,205.34 3.54% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,342.25 1,343.43 3.96% FBN Balanced Fund 144.84 145.91 -1.35% FBN Money Market Fund 100.00 100.00 6.17% FBN Nigeria Eurobond (USD) Fund - Institutional 119.94 120.27 0.59% FBN Nigeria Eurobond (USD) Fund - Retail 120.71 121.03 0.73% FBN Nigeria Smart Beta Equity Fund 119.81 121.30 -7.93% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.42% Legacy Debt Fund 3.70 3.70 1.29% Legacy Equity Fund 1.09 1.11 -4.03% Legacy USD Bond Fund 1.09 1.09 0.77% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,029.51 3,063.87 1.58% Coral Income Fund 3,130.31 3,130.31 14.19% FSDH Treasury Bills Fund 100.00 100.00 6.27% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 5.26% Nigeria Entertainment Fund 118.29 118.85 9.61%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 5.06% Vantage Balanced Fund 2.18 2.22 1.32% Vantage Guaranteed Income Fund 1.00 1.00 10.79% Kedari Investment Fund (KIF) 140.72 141.22 12.76% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.18 1.20 1.13% Lotus Halal Fixed Income Fund 1,120.80 1,120.80 2.03% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.22 9.31 -5.96% Meristem Money Market Fund 10.00 10.00 4.28% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.39 1.41 13.56% PACAM Fixed Income Fund 12.43 12.54 10.16% PACAM Money Market Fund 10.00 10.00 7.00% PACAM Equity Fund 1.07 1.09 PACAM EuroBond Fund 100.37 102.28 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 123.26 125.82 4.66% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 2.12% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 3.08% Stanbic IBTC Bond Fund 210.33 210.33 1.19% Stanbic IBTC Ethical Fund 0.88 0.89 0.56% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 1.59% Stanbic IBTC Iman Fund 154.92 156.64 -1.86% Stanbic IBTC Money Market Fund 100.00 100.00 5.28% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -0.08% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 1.05% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.19 -2.80% United Capital Bond Fund 1.77 1.77 1.91% United Capital Equity Fund 0.67 0.68 -5.28% United Capital Money Market Fund 1.00 1.00 7.17% United Capital Eurobond Fund 113.29 113.29 1.29% United Capital Wealth for Women Fund 1.08 1.08 -1.01% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.05 10.19 -2.10% Zenith Ethical Fund 11.46 11.60 -1.28% Zenith Income Fund 23.17 23.17 4.23% Zenith Money Market Fund 1.00 1.00 3.60%

REITS NAV Per Share

Yield / T-Rtn

3.20 120.62 52.41

-66.85% 1.28% 0.69%

Bid Price

Offer Price

Yield / T-Rtn

8.68 90.20 70.77

8.78 92.13 72.10

-0.24% -2.46% -4.00%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.35 4.31 12.29 11.46 180.00

3.39 4.39 12.39 11.66 182.00

-5.48% -26.94% 1.27% 10.16% -4.20%

NAV Per Share

Yield / T-Rtn

108.69

17.60%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

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40

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2018;Í&#x201D;Í&#x2122;Í&#x161;Í&#x2018;Í&#x2019;Í&#x161;Í&#x201C;Í&#x2013;

Celebrating Aje Festival at the Cradle of Humanity Chiemelie Ezeobi writes that the recently celebrated Aje Festival 2020, which held at the â&#x20AC;&#x2DC;cradle of humanityâ&#x20AC;&#x2122; in the ancient city of Ile-Ife, was not just about touching base with culture but also afforded Brazilians and Africans the opportunity to trace their roots

Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, Ojaja II, releasing the white pigeons, symbolising purity and peace, to mark the Aje Festival

Alapomu of Apomuland, HRM Oba Kayode Afolabi (third left) with others at the festival

Foreign delegates at the festival

The Ooni exchanging pleasantries with Alapomu of Apomuland, HRM Oba Kayode Afolabi

O

n a certain Monday, the Arole Oodua and Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, Ojaja II, with white pigeons, symbolising purity and peace, in his hands led a procession from the palace 'Ile Oodua' to the Aje shrine known as â&#x20AC;&#x2DC;Idi Ajeâ&#x20AC;&#x2122;, and released the birds into the air. It was symbolic gesture to herald the 2020 Aje Festival at the shrine which is located a kilometre away from the palace. Before the birds were released, prayers for the economic and commercial prosperity of the Oduduwa race worldwide and Nigeria in particular were made. In line with the festival, recently, all roads led to the ancient city of Ile-Ife believed to be the cradle of humanity as the Ooni, who also doubles as the co-Chairman of National Council of Traditional Rulers of Nigeria(NCTRN) and the natural father of the entire Yoruba race worldwide, led thousands of Ife indigenes, market men and women, tourists, financial experts and business tycoons from across Nigeria and abroad to celebrate the festival. The organising committee led by Dr Toyin Kolade did not leave any stone unturned in making the festival a success. As one of the 401 gods and goddesses like Ogun(iron), Osun(water), Kori(children) and Orunmila(divination), Aje is a deity in charge of wealth and economic prosperity with great positive influence on the worldâ&#x20AC;&#x2122;s economy. According to the palace, the deity of Aje is in charge of wealth, commerce and economy just like Ogun is in charge of iron and Osun is in charge of waters. The festival annually holds on a Monday traditionally known as â&#x20AC;&#x2DC;Ojo Ajeâ&#x20AC;&#x2122; in Yoruba parlance. During this Aje Festival, participants including foreign tourists, business men and women would purchase a white pigeon each.â&#x20AC;? The festival also afforded Brazilians the

Ooni and Olori at the festival opportunity to trace their roots. It will be recalled that Princess Kolade led a royal team to Brazil in August last year advancing the cause of Aje Festival where fruitful discussions and meetings were held with government of the city of Rio and other cultural tourism stakeholders for collaboration on the festival in furtherance of the Cultural Tourism Revolution Agenda of the Ooni. In his speech, the Ooni urged governments at all levels to raise the standard of living of citizenry through favourable economic policies. He decried the current economic condition of the country which he described as pathetic, adding that the country's wealth must be be enjoyable to all Nigerians. â&#x20AC;&#x153;As it stands today, Nigeria has a population of few men and women controlling

the economy while countless others are languishing in poverty. We cannot continue like this. For us to progress as a country, we must ensure that our wealth goes round especially to the poor and other vulnerable members of the society. We cannot keep having strikingly rich few Nigerians and uncountable ones wallowing in abject poverty.â&#x20AC;? While explaining the basis for the Aje Festival celebrations, the African foremost monarch explained that it is a unique way through which the Yoruba people globally remember the deity which is known for wealth and riches. He said: â&#x20AC;&#x153;Aje is a deity which is known for wealth and riches. It is annual celebration as you have witnessed today is to acknowledge its relevance to us as people, especially its indispensable nature to us. Did you see the

struggle for it during the procession to and from the Aje temple? That is the spirit of Aje, all of us are not rich because it is not easy to accumulate wealth. â&#x20AC;&#x153;We are not devaluing the currency by spraying it to our people, we only do it on a special day like this to spread happiness. In the olden days, it was cowries, sometimes ago it was coins, nowadays it is naira notes and we hold it in a very high esteem.â&#x20AC;? Also speaking, the Lowa Adimula of Ife, High Chief Adekola Adeyeye, described the 2020 Aje festival celebration as the best in history, thanking the Ooni for upholding the cultural values of Ile Ife and Yorubaland. The traditional rulers who graced the festival are; Alapomu of Apomu, Oba Adenekan Afolabi, Ajero of Ijero-Ekiti, Oba Joseph Adewole, Olugbon of Ile-Igbon, Oba Olusola Alao, Onigogo of Igogo-Ekiti, Oba Sunday Adewumi, Elerinmo of Erinmo-Ijesa, Oba Michael Ajayi, Onigbaye of Igbaye, Oba Morounfoye Okunola, Olubogun of Ibogun-Ifo, Oba Fakayode Faluade, Aragberi of Oragberi, Oba Funso Makanju, Oloba of Oba-Ile, Oba Adekunle Oyeyemi, Eburu of Iba, Oba Adeogun Ogunoye, Onitetiku of Owode-Ota, Oba Wasiu Ogungbayi, Asoya of Ile-Isoya, Oba Muraina Adedini, Obalufe of Iremo-Ife, Oba Idowu Adediwura and a host of others. Also, the former Ogun State Governor, Otunba Gbenga Daniel; Consular General of Brazilian Embassy in Nigeria, Helge's Samuel Bandeira, several traditional rulers and Nollywood stars including Adewale Eleso, Iya Rainbow, Lanre Hassan(Iya Awero), Saheed Balogun and others dignitaries were at the festival. The festival climaxed with a dinner party at the banquet hall of the palace where guests and the foreign tourists were entertained by the Apala music maestro, Musiliu Aruna Ishola.

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CRIME&SECURITY

Appraising Navyâ&#x20AC;&#x2122;s Capabilities in Its Lagos Commands Chiemelie Ezeobi writes that the recent oversight visit of the House of Representatives Committee on Navy was an opportunity to asses the capabilities of the Western Naval Command and Naval Training Command in Lagos, as well as gauge their needs assessments and challenges, which would enable them address the navyâ&#x20AC;&#x2122;s budgetary needs

T

he House of Representatives Committee on Navy recently stormed Lagos. Their purpose was explicit; assess Western Naval Command (WNC) and Naval Training Command (NAVTRAC) and their respective units. Led by the Chairman House, Right Honourable Yakubu Adamu Gagdi, the team spent three days in Lagos. The committee visited NNS ships in BEECROFT, Naval Base BEECROFT, NAVTRAC, the Naval Dockyard Limited, Naval Doctrine and Assessment Center, completed and ongoing projects sites at Navy Town Ojo, Naval Air Base, Forward Operating bases IGBOKODA and BADAGRY. The visit was wrapped up with a meeting with stakeholders in the maritime sector. On the first day of their visit, they had assured the Nigerian Navy (NN) of its preparedness to provide necessary budgetary supports to enable the service perform its constitutional roles of protecting Nigeriaâ&#x20AC;&#x2122;s maritime territorial integrity. According to Gagdi, it is their constitutional responsibility to perform oversight function on the navy in order to ascertain the true position of things, the challenges and the efforts of the navy over time in combating criminalities in our maritime domain. He said: â&#x20AC;&#x153;The exercise is very simple and straight to the point, as constituted body of the Nigeria parliament, vested with the responsibility of overseeing the activities of NN. It is one of constitutional requirements to come to all the commands and naval formations across the country to interact with the leadership of the commands and units of the navy to enable us know the structures, activities, deficiencies and inadequacies of equipment that will hinder the smooth operations of the navy.â&#x20AC;? Earlier, while briefing the members of the committee on the activities of WNC, the Flag Officer Commanding (FOC), Rear Admiral Oladele Daji, reiterated the commitment of the command to carry out all assigned functions responsibly for the benefit of the nation. According to the FOC, the command is delighted to have the committee in the command for an oversight visit in order to strengthen institutional processes of the navy. â&#x20AC;&#x153;We are very delighted to have you for two main reasons, first as law makers you are one of the key pillars for which our democracy as institution strive. â&#x20AC;&#x153;Secondly, in your capacity for oversight function to strengthened institutional processes and procedures, so that where things are not done properly they can be corrected. I am therefore confident the visit will afford the committee to ascertain key areas for possible intervention to enhance operational effectively and readiness, the visit will afford you the opportunity to know more about the NN.â&#x20AC;? The next day, the committeeâ&#x20AC;&#x2122;s point of call was the Navy Ordinance Depot, Special Boat Service and Joint Maritime Security Centre in Navy Town. They visited the Underwater WarFare School, Nigeria Reference Hospital, the newly commissioned apartments for personnel, stadium, Nigeria Navy Secondary School and Naval Air Base within the Ojo barracks. At the end of the tour, Gadgi and his committee said they were impressed with the achievements of the commands, adding that â&#x20AC;&#x153;the Nigeria Navy within the jurisdiction of the Western Naval Command and Naval Training Commands

The House of Representatives Committee on Navy and the FOCs WNC and NAVTRAC after the three-days oversight function of the former to both naval commands

L-R: Flag OďŹ&#x192;cer Commanding, Naval Training Command, Rear Admiral Standford Enoch; Chairman, House Committee on Navy, Right Honourable Yakubu Adamu Gagdi and Flag OďŹ&#x192;cer Commanding, Western Naval Command, Rear Admiral Oladele Daji

have done unprecedentedly well and we commend them. â&#x20AC;&#x153;Perhaps, as committee, we have our own reservations but to see military institution establishing projects according to standard and according to specification, looking at the welfare of their personnel both junior and senior officers, to see it doing the best; and to add to the morale of their engagement, I think we must commend them and aside from those physical things, personally in the areas of operationsâ&#x20AC;?. On the last day of their three-day oversight visit, the committee held a stakeholders meeting at WNC, after which they addressed the press. The committee said the meeting was to make sure that all relevant stakeholders work together with the navy to ensure that they provide a safe and secured environment for maritime businesses to thrive and contribute to national development.

Again, commending the navy over its discipline and project execution, the committee said: â&#x20AC;&#x153; The committee is comfortable with the level of Implementation with discipline within the WNC and NAVTRAC, as well as impression, coordination, effort and commitment. â&#x20AC;&#x153;The committee appreciates the navy under the leadership Vice Admiral IbokEte Ibas with his strategic commandants in this commands for doing what they have done. For us as a committee, we have gone round, we have seen what we are supposed to see and we have heard equally from officers of Nigerian Navy what we should hear from them.â&#x20AC;? He added that on the second day engagement, â&#x20AC;&#x153;we have seen the problem of Nigerian Navy, we have seen the gap and the challenges the navy is facing and how the people of Nigeria will solve the problem of the navy because National Assembly represents the Nigerian people and also the power given to

us in terms of provision of funds, yet Nigerian is facing a lot of challenges bringing from maritime- related crimes as well as normal issue of all insecurity and in the course of our engagement, we have seen the prominent role the Nigerian Navy is playing to combat maritime crimes, as well as insecurity. â&#x20AC;&#x153;For example, in one of the operation in Igbokoda, from the brief the committee received, is one of the areas that kidnappers feel as safe haven for them but due to the strategic policyâ&#x20AC;&#x2122;s implementation of Nigerian Navy, that axis too is becoming uncomfortable to them.â&#x20AC;? The visit left all parties with a feeling of hope. For the navy, hope for an increased budget that will meet their need for adequate platforms and other necessities; and for the maritime stakeholders- hope that with better equipment for the navy, the maritime domain will be safer and adequately protected.

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MONDAY MARCH 9, 2020 ˾ T H I S D AY

NEWS

Unitary Policing under Federal Setting an Aberration, Says Fayemi Victor Ogunje in Ado Ekiti Ekiti State Governor, Dr. Kayode Fayemi has identified some flaws in the federal structure being run in the country as the main cause of the various challenges facing the country, adding that there is a general sense of inadequacy and powerlessness among the federating units in the critical areas of socioeconomic development. He stressed that the defective federalist ideals enshrined in the Nigeria’s Constitution had continuously limited the power of the states to pursue individual development programmes at their own pace, stressing that Nigeria must fully address the issue of federalism if the political class was serious about lifting the country out of the current challenging situation. He described the existence of a unitary policing system in a defined federal structure as an aberration, which has handicapped the state governments in the quest to effectively and efficiently tackle the issue of insecurity, which has defied all federal tactics in the states. The Ekiti State governor, however, assured Nigerians that the various challenges currently bedeviling the country are not insurmountable. Fayemi said the problems are generally symptomatic of the developing nations, adding that most of the challenges the country faces in its developmental journey are part of the necessary developmental hurdles it must cross in order to get to the desired destination. Fayemi stated these at the University of Medical Sciences, Ondo State,

while delivering a paper titled “Re-thinking Nigeria for Future Development” to mark the university’s combined 8th Distinguished Guest Lecture and 5th Founder ’s Day. The governor restated that Nigeria is currently faced with security challenges that include terrorism, banditry, armed robbery, ethno-religious issues and other low level criminality, saying that the country’s securit y a rc h i t e c t u re re m a i n e d i n e ff e c t i v e because it s u ff e r s what one might called “ s t ru c t u r a l o b e s i t y ” . According to the governor “Our political structure is something to cast a big look into; many commentators have identified the kind of federal structure we run as one of the reasons for our numerous challenges. There is a general sense of inadequacy and powerlessness among the federating units in the critical areas of socioeconomic development. “For example, many have asked questions as to why the state cannot develop its own rail system and it has to be on the exclusive list; it’s also argued that the idea of national grid is the recipe for energy crisis that we now have. “It is just elementary that if all of our energy sources are on the single grid, the grid is bound to suffer constant and consistent collapses and infractions. “Why do we have to have a national driver’s licence and vehicle licensing system when motor licences are obviously a municipal responsibility of vehicle inspectorate department of the state ministries of transport?

“Why do we have a unitary policing system in a federal structure? Does it not fly against reasoning that a state would have a state legislature

to make its laws, the state judiciary to interpret them, but would not have a state police to enforce the law. “I have always maintained

along with my colleagues in the southwest governors’ forum that if we could trust the state judiciary to discharge justice, which sometimes

they stand against those in authority, why can’t we trust same state with the police to bring suspects before the courts?”

CELEBRATING WOMEN’S DAY

L-R: Director, Nigerian Exchange Group and CEO, Bestman Games, Mrs. Nimi Akinkugbe; Managing Director/CEO, FITC, Mrs. Chizor Malize; Professional Women Roundtable (PWR), Mrs. Ivana Osagie; Founder, Easyshop, Easycook, Mrs. Saudat Salami; and Publisher, Today’s Woman (TW), Mrs. Adesuwa Onyenokwe, at a women’s summit organised in commemoration of International Women’s Day (IWD2020) organised by FITC in Lagos...weekend

Buhari Condoles with Iran, South Korea, Italy over Coronavirus Epidemic Omololu Ogunmade in Abuja President Muhammadu Buhari at the weekend sent messages of sympathy to President Hassan Rouhani of Iran; Moon Jaae-in of South Korea and the Prime Minister of Italy, Guiseppo Conte. The president expressed his “deep sympathies” to the leaders following the increasing incidents of the deadly Coronavirus disease in their countries. According to a statement by the presidential spokesman, Malam Garba Shehu, the

president in his respective messages, said the Nigerian government would continue to diligently carry out its duty to the international community by ensuring that the spread of the disease is curtailed. It also said the president encouraged Nigerians to continue to show support to citizens of all the countries who are resident in the country. The statement quoted Buhari as saying, “there is no cause for panic. Italy, South Korea and Iran remain Nigeria’s allies in good and bad times.”

The statement added that Buhari commended the three countries on their efforts to contain the virus, expressing confidence that, “with the support of the World Health Organisation and other global agencies all working together to contain the virus, it will only be a matter of time before the world sees an end to this disease.” Buhari was further quoted as saying, “So far, there have been no known cases of the disease on Nigerian soil, but for the penetration of a lone foreign national found to be a carrier of the virus.”

The statement added: “He also commended the diligent efforts of federal, state health officials as well as ports and border personnel in keeping Nigeria safe from the epidemic. “In fulfilment of the President’s promise to give the health authorities all that they need to keep Nigeria clear of the virus, the Ministry of Finance, Budget and National Planning confirmed making the second approved payment in the sum N620 million last Friday, bringing the total payments made so far to N984 million.”

Japan Assures Nigeria of Support Okowa Salutes Osinbajo on 63rd Birthday in the promotion of peace in the Delta as well as his role in his accomplishments in personal Omon-Julius Onabu in Asaba in Tackling Coronavirus Niger Delta must be appreciated capacity as Chairman, National and public life” readily come The Japanese Government has assured of its continued support to the country through collaboration with the Nigeria Centre for Disease Control (NCDC) to enable it effectively address rising health challenges, particularly the Coronavirus threat. The Japanese Ambassador to Nigeria Kikuta Yutaka gave this assurance in Abuja, while speaking with journalists at the 2020 annual gathering of members of the Japan International Cooperation Agency (JICA) Alumni Association of Nigeria. Represented by that Deputy Head of Mission, Japanese Embassy in Nigeria, Shinozawa Takayuki, said his home government will continue to strengthen its bilateral ties with Nigeria through collaborations in area of technology, agriculture, education, among others, with a view to aiding the improvement of Nigeria’s economy. He noted that the recent agreement between his country and Nigeria to support NCDC will go a long way in improving the nation’s health sector.

The Minister of State for Environment Mrs. Sharon Ikeazor, represented by her Ministry’s Permanent Secretary, Bakari Wandiga said the Ministry intends continue to engage with Japan on ways to address environmental challenges in the country. The Minister of State for Budget and National Planning, Clement Agaba, represented by Oluseye Fatuyi, hailed the association for its activities and advocated an enhanced cooperation between both countries. The President of JICA Alumni Association of Nigeria, Ahmed Agberankhe said his group, comprising about 3,000 members, is made up of Nigerians, who have been trained in Japan by the Japanese Government under the Technical Assistance Programme to Nigeria. Agberankhe gave details of the group’s activities in recent years, including organizing seminars, workshops, symposiums which are aimed at improving various sectors of the Nigerian economy.

The Delta State Governor, Dr. Ifeanyi Okowa, has congratulated the Vice-President, Prof Yemi Osinbajo on his 63rd birthday, describing his contribution to the stability and growth of the Nigerian economy as particularly commendable. Okowa said that Osinbajo’s role

while thanking God with his family on the occasion of his birthday. In a statement issued in Asaba by his Chief Press Secretary, Mr. Olisa Ifeajika, the governor recalled with gratitude the vice president’s contribution to the restoration of peace in the Niger

Economic Council (NEC). The vice-president deserves some commendation for his leadership role in improving the nation’s economy as Chairman of National Economic Council (NEC), the governor said, adding that his “selfless service to the nation and his many

to mind at a time like this. Ifeajika quoted Okowa as saying, “As Chairman of the National Economic Council, you have played significant roles in the growth and development of the nation’s economy and we can’t thank you enough.

Delta Community Raises the Alarm over Siege by Armed Herdsmen “Issele-Azagba people Ijei II, who personally led been left with no choice but to call Omon-Julius Onabu in Asaba Residents of Issele-Azagba town in Aniocha North Local Government Area of Delta State have raised the alarm over the siege of armed herdsmen. Addressing a press conference on Saturday at the palace of the monarch in the town, the people said eight persons have been killed and 16 others kidnapped by the bandits during the series of attack, including three attacks between February 6 and March 4 that left a trail of blood and sorrow. The octogenarian traditional ruler of Issele-Azagba kingdom, HRM Obi Francis Jidouwa

the protest march and press conference, was joined at the event by some members of his royal council including the Ogbelani of Issele-Azagba, Chief Christian Uwandulu, executive members of the Issele-Azagba Development Union led by its President-General, Chief Benneth Uche Iloh, the leader of the community youth association, Comrade Ogegbu Edozie, the vice-chairman of Aniocha North Local Government Area, Mr. Tobechukwu Uwamedua, and the palace secretary, Mr. Loius Ndoh. The people motef that they have

on Delta State Government, the federal government and peaceloving global community to come to the aid of Issele-Azagba as they have been overwhelmed by the persistent attacks by the bandits they consider as “terrorists.” While restraining themselves from stating categorically that their community was under siege of Fulani herdsmen, the people said portions of land belonging to Issele-Azagba has been forcibly taken over by the herdsmen with thousands of their cattle, scaring away the people from their farmlands with dangerous weapons.

are well known as a peace-loving people; we cannot take laws into our hands. We don’t even have the wherewithal to fight our attackers, who we considered as nothing else but criminals and terrorists. “There is a place in IsseleAzagba bush that has been forcefully occupied and filled with thousands of cattle by herdsmen, and they are well armed. It is Issele-Azagba land but now no member of the community dares go there for fear of bei n g k i l l e d by the heavily armed herdsmen.

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Jonathan, Okowa Hail Okonjo-Iweala’s Appointment in South Africa Omon-Julius Onabu in Asaba Former President Goodluck Jonathan and Delta State Governor, Dr. Ifeanyi Okowa, have expressed confidence that the former Minister of Finance, Dr. Ngozi Okonjo-Iweala would deliver on her appointment as a member of South Africa’s Presidential Economic Advisory Council. Jonathan made his own remarks in a post on his verified Facebook page yesterday.

He said, “I congratulate Dr. Ngozi Okonjo-Iweala who served as the coordinating minister for the economy/finance minister in my cabinet, on her appointment as a member of South Africa’s Presidential Economic Advisory Council. “As a two-time minister in Nigeria, you left indelible marks as an astute manager of the nation’s economy and resources. “I am delighted that you have continued to place your

substantial wealth of experience as a development economist at the service of many nations and international organisations to aid global growth and progress. “I have no doubt in my mind that you will excel in the new assignment.” Also, Okowa has congratulated Okonjo-Iweala, on her appointment. In a statement by his Chief Press Secretary, Mr Olisa Ifeajika, in Asaba, Okowa said he was

elated to hear of Okonjo-Iweala’s appointment by President Cyril Ramaphosa to head South Africa’s PEAC. He described Okonjo-Iweala as a brilliant, competent, worldclass economist and international development expert whose works over the years distinguished her globally. He stated that the former minister remained a worthy ambassador of Delta and a great role model for the girl-child.

“I am elated to hear of your appointment by Ramaphosa. “Your appointment is indeed, a testament to your competence and experience as a renowned economist and international development expert. “On behalf of my family, the Government and people of Delta, I congratulate a worthy ambassador of Delta and Nigeria, Dr. Ngozi Okonjo-Iweala, on her appointment into South Africa’s Presidential Economic Advisory

Council as not just a member but as chairman. “As you take on this onerous but distinguishing assignment in another country, I pray and urge you to re-enact that, which you have always done - bringing pride and honour to Delta and Nigeria. “It is without doubt that your pedigree and impeccable footprints in monetary and economic administration in Nigeria and at the World Bank stood you out for this sublime international assignment.”

Ondo Varsity Suspends Examination as Two Students Die James Sowole in Akure Ondo State-owned Adekunle Ajasin University in Akungba Akoko (AAUA) has directed that the First Semester university-wide GST and ENT CBT examinations for 2019/2020 academic session earlier scheduled for today (March 9 to 12) be postponed till further notice. The postponement of the examination, according to the university’s authorities, was in mourning of the death of two students of the institution within one week. The university, in a condolence message, expressed shock on the death of the students in the course of the week. The deceased students are: Miss Temitope Patience Ayedun, a 200 Level of the Department of Educational Management and Okakunle Matthew Olayinka a 300 Level of the Department of Biochemistry. The university said Ayedun was admitted at the University Health Centre and the medical personnel tried their best to manage her until she was referred to the Federal Medical Centre in Owo where she was intensively managed before she died on March 5.

“The news of the death of Mr. Olakunle Matthew Olayinka, a 300 Level student of the Department of Biochemistry, following wounds from gunshot by unidentified gunmen, was received last night, Friday, 6th March, 2020, after the medical personnel at the University Health Centre put up spirited efforts to stabilise him. “The security agents are still on the trail of the assailants for apprehension,” AAUA said. The university management under the leadership of the Acting Vice Chancellor, Prof. Olugbenga E. Ige, commiserated with the families of the deceased, the entire students and the university community on these sad events, praying God to console the families and the entire university community. The university, in a statement, said the management has beefed up security within and outside the campus to forestall recurrence. While expressing the condolence of the university management, all students were enjoined to remain calm and go about their lawful activities without panic as authorities, i n c o n j u n c tion with the security agencies, are on top of the situation

NNPC Pledges to Supply Cheaper Fuel Peter Uzoho The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has stated that petrol would become cheaper and more environment-friendly in Nigeria once the Ajakuta-KadunaKano (AKK) gas pipeline was completed. Kyari stated this yesterday in Kaduna at the closing ceremony of the 41st edition of the Kaduna International Trade Fair. Kyari who was represented at the occasion by the Managing Director of Kaduna Refinery and Petrochemical Company, Mr. Ezekiel Osarolube, said with the AKK project, environment-friendly fuel would be used to power most of the moribund textile companies in Kaduna and Kano States, thereby reviving the companies and creating job opportunities for the teeming youths. “Upon completion, we envisage that the AKK project would get gas, a cheaper and more environmentfriendly fuel to power most of

the moribund textile companies here in Kaduna and Kano, thereby reviving them and creating job opportunities for our teeming youth,” he said. Kyari however used the occasion to introduce the corporation’s latest products: the Nitro and Rhino ranges of engine oils, saying, “The Nitro range of engine oil is for petrol-fired engines while the Rhino range is for diesel-fired engines. They are specially blended to enhance the performance of your engines and give them long life”. He said the corporation was currently transforming from a traditional oil and gas entity into an integrated energy outfit with interest in power generation and transmission. “The decision to diversify into the power sector is hinged on the need to bridge the huge energy gap in the Nigerian market. The corporation is also engaged in development of renewable energy to, overtime, create low-carbon economy and link the Oil and Gas Sector to the Agricultural Sector,” he added.

TO WHOM HONOUR IS DUE…

General Officer Commanding 2 Division of Nigeria Army, Ibadan, Major General Anthony Bamidele Omozoje (left), handing over a gift to the Oyo State Governor, Mr. Seyi Makinde, during a reception in honour of the governor at Tiger’s Den, Adekunle Fajuyi Cantonment, lbadan… weekend

FG Constitutes NDDC Advisory Committee ‘Review of Amnesty Programme for benefit of ex-agitators’ Ndubuisi Francis in Abuja President Mohammadu Buhari has constituted the Advisory Committee of the Niger Delta Development Commission (NDDC) in accordance with the provisions of Part III, Section 11 (2) of the NDDC Establishment Act ( as amended). A statement issued by the Head (Press and Public Relations), Ministry of Niger Delta Affairs, Patricia Deworitshe, said by Section 11 (2) of the Act, the committee is saddled with the responsibility of advising the board and to monitor the activities of the commission, with a view to achieving set objectives as well as to make rules regulating its own proceedings. Membership of the committee as provided in Part III, Section 11(1a) comprises governors of the nine member-states of NDDC and two persons nominated by

the President, Federal Republic of Nigeria which in this circumstance are the Minister of the Ministry of Niger Delta Affairs and Minister of Federal Ministry of Environment. The statement said the committee would be inaugurated by the President at the Council Chamber, State House in Abuja on March 10. Meanwhile, the ongoing review of the Presidential Amnesty Programme (PAP) by the federal government is to institutionalise and refocus the programme for the interest of its beneficiaries. A statement released by the PAP spokesman, Murphy Ganagana, said this was in line with Buhari’s determination to deliver the gains of the programme through a transparent process that ensures all allocated resources are judiciously utilised, adding that as the success of the programme lies on transformation of ex-agitators from militancy to actualising their

aspirations, engaging in businesses and living sustainable livelihood. “This is why the programme focuses on education, vocational training and empowerment, all designed to address issues of development in the Niger Delta. There is however growing concern that the reintegration component of the programme may have been frustrated by corruption and lack of accountability. This must stop for the benefit of beneficiaries and the Niger Delta. “While the PAP which was initiated on June 25, 2009 has contributed to stability in the Niger Delta, there have been persistent calls by stakeholders for a review of the programme to achieve its objective of sustaining peace, security and human capital development in the region. “More than 10 years after its creation amidst numerous petitions and allegations of corruption which are being investigated,

available data point to a systemic problem with the programme structure which permits abuse of processes. “The situation is in direct conflict with the Federal Government’s resolve to address the root causes of under-development in the Niger Delta conflict that necessitated the Amnesty Programme,” the statement noted. Ganagana added that in order to protect all beneficiaries and ensure that no one is left behind, the government is reviewing the propramme to make it work better for human capital and socio-economic development, as well as empowerment of the region and its people. He pointed out that as PAP works to review the programme, stakeholders from the region would play a critical role, stating that the guiding principle is mainstreaming and institutionalisation.

4,219MW Cut Back from National Grid Daily in Five Days Chineme Okafor in Abuja Sixteen out of the 27 existing electricity generation companies (Gencos) in Nigeria will cut down their power production capacities over the next 10 days as they deal with reduced gas supply for power production, the Transmission Company of Nigeria (TCN) has disclosed.

Some of the Gencos affected by the gas supply shortage which the TCN said was caused by maintenance works on gas lines by gas suppliers are: 450 megawatts (MW) capacity Azura Edo; 450MW Sapele NIPP, 675MW Olorunsogo NIPP, and 450MW Ihovbor NIPP. It disclosed in a statement signed by its General Manager,

Public Affairs, Mrs. Ndidi Mbah, that this has affected power supply across the country, but that the situation would improve within the next 10 days after the maintenance works. Following the TCN’s disclosure, statistics from the Advisory Power Team in the Office of the Vice President, Prof. Yemi Osinbajo showed

that on Friday, about 4,492MW of electricity could not get to the national grid for reasons such as gas supply shortage. Osinbajo’s office also indicated that on the same day, a meagre 3,887MW of electricity was distributed across the country, while N2.15 billion was lost as unearned revenue.

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Uzodinma Denies Being Attacked by Angry Imo Youths Amby Uneze in Owerri Imo State Governor, Senator Hope Uzodinma yesterday denied being attacked by aggrieved youths from Ohaji Egbema Local Government Area of the state. Uzodinma was said have escaped unhurt as aggrieved youths from Ohaji Egbema LGA allegedly attacked his convoy destroying governor’s official car. According to eye witness account, the youths of Mmahu community who had expressed anger over the controversial way

the Supreme Court handled the review of the Imo governorship case upon sighting the governor’s convoy started shouting “Onye Oshi Vote, Onye Oshi Vote” literally meaning (one who stole people’s votes) started throwing bottles and stones on the Bullet proof SUV of the governor. THISDAY learnt that as the youths became restive, the governor was however not allowed to come down from the car as security operatives whisked him away immediately to prevent more casualties.

But in a swift reaction, the Chief Press Secretary to the governor, Mr. Oguike Nwachukwu said in a statement that Uzodinma was not attacked, describing the reported attack as a devilish propaganda being peddled by the opposition. He said the governor was at Mmahu area of Ohaji/Egbema to sympathise with the community that lost three of their kinsmen on Friday following an accident that involved a truck belonging to an oil firm operating in the area. “The killing enraged the youths in Mmahu, causing their leaders

to reach out to the governor to visit the community to call the oil firm to order. Straight from church, Governor Uzodinma, in the company of the Brigade Commander at Obinze, the Commissioner of Police, the Director of Department of State Services and Commandant of the Nigeria Security and Civil Defence Corps visited the area to reassure the community of his willingness to secure their lives and property and to draw a programme for the families of the deceased,” he explained.

Nwachuku noted that while the governor was addressing the families, some boys among the aggrieved youths were heard making noise outside, accusing the security operatives of supporting the oil companies and demanding that Uzodinma should address them too. “While the security operatives tried to calm them down and control the noise, one of them allegedly hid behind others and threw a stone at one of the official vehicles of the governor where they were parked and in the

process smashed the back glass. He was promptly arrested by the security present. While this drama was playing out, Governor Uzodinma was still inside the hall addressing the traditional ruler, community leaders and the bereaved families,” he explained. The statement added that one Mr. Uzochukwu Chukuwukere who is the Vice Chairman of Egbema Youth wing, who threw a stone that damaged the windscreen of one of the vehicles has been arrested and has made useful statement to the security operatives.

NUT Gives Niger Ultimatum to Pay Teachers FG Constitutes Panel on Treasury Officers’ Minimum Wage Deployment to NNPC, Others from the salary payment vouchers the union observed that despite Laleye Dipo in Minna The Nigerian Union of Teachers (NUT) has given the Niger State government up to the end of this month (March) to pay all categories of teachers the new minimum wage and its consequential adjustment. The union alleged that when the government commenced the payment of all workers the new wage in February several “qualified teachers” were omitted

resulting in outcry by those concerned. The NUT had as a result of the development, compiled the list of teachers who were not beneficiaries of the 18 per cent across the board increase for senior civil servants and forwarded same to the federal government for necessary action. Rising from a state executive committee Meeting held in Minna, the state capital at the weekend,

teachers being the least salary earners in the state, the 18 per cent consequential adjustment was not implemented for them. The meeting noted the commitment of the ministry for local government to implement the N30,000 minimum wage “as contained in the signed agreement between organised Labour and the state government” but expressed dismay “ over the delay in paying primary school teachers’ salaries”.

NBC Grants 65 Radio,Television Licences The National Broadcasting Commission (NBC) has announced the issuance of 65 new broadcasting licences. The breakdown, according to a statement by the commission, comprises of 43 new FM radio, eight campus FM radio, one community FM and 13 free-view digital terrestrial televisions. The Nigeria Police Force and the Nigeria Security and Civil Defence

Corps (NSCDC) were listed among the 43 lucky companies to have been issued radio licences. Abubakar Tatari Ali Polytechnic, Bauchi; Federal Polytechnic Ilaro; Federal Polytechnic Nasarawa; Akwa Ibom State University; Ambrose Ali University; Temple Gate Polytechnic; Audi Gusau Polytechnic and Nuhu Bamali Polytechnic got the campus FM radio broadcasting licences.

The commission said the approval was granted by President Muhammadu Buhari. The successful companies, institutional and communities listed are advised to collect their letters of grant of provisional operating licence(s) from the office of the S e c r e t a r y t o t h e commission.

350 Christians Killed in 2020, Says Group David-Chyddy Eleke in Awka A rights group, International Society for Civil Liberties and the Rule of Law (Intersociety) has said no fewer than 350 Christians have been killed in Nigeria between January and February 2020. This was coming as Catholics in Anambra yesterday staged a protest against the increasing spate of killing across the country. Intersociety, in a report signed by its Board of Trustees Chairman, Mr. Emeka Umeagbalasi, and made available to THISDAY in Awka, said: “Nigeria has fully become a killing field of defenseless Christians. “Available statistics has shown that no fewer than 11,500-12,000 Christian deaths were recorded in the past 57 months or since June 2015 when the present Federal Government of Nigeria came on board. Out of this figure, Jihadist Fulani herdsmen accounted for 7,400 Christian deaths, Boko Haram 4,000 and the ‘highway bandits’ 150-200. “Also, in the past two months of January and February 2020, no fewer than 350 Christian deaths have been recorded and between 100 and 150 Christian travellers abducted on highways. “And out of the 350 Christian deaths, Jihadist Fulani herdsmen

accounted for no fewer than 250. Boko Haram and ‘highway bandits’ are responsible for the remaining 100 deaths. The killings targeted at Christians in Nigeria have continued into the first week of March 2020 leading to hacking to death of over a dozen more.”

The group added that it had monitored and documented killing of Christians in Nigeria since 2010, saying it has been speaking out against insecurity in Nigeria using several dependable mainstream and online media platforms of local and international credibility.

Margaret Adanna Amadi is Dead The death has occurred of Mrs. Margaret Adanna Amadi, (Nee Iwuamadi), of Atta-Ukwu Village, Amano, Atta in Ikeduru Local Government Area of Imo State. A devout Christian and woman leader, Mrs. Margaret Amadi died at the age of 72 years. In a statement issued by the family, there will be interdenominational service of songs at her residence, the late Ernest Amadi’s Compound, Atta-Ukwu Village, Amano Atta, Ikeduru LGA on March 12, 2020. On Friday, March 13, 2020, her body leaves mortuary to her hometown in Atta for lying in state. The funeral service will take place in her compound, Atta-Ukwu Village, Amano Atta, Ikeduru LGA of Imo state. According to the statement, interment follows at her compound with condolence visit by in-laws, friends,

and other groups as well as well-wishers. She is survived by children, brothers, sisters, grand- children and host of other relations. Among her sons is a Lagosbased media practitioner, and Business Editor/Head of Energy Desk, Champion Newspapers Limited, Mr. Ugo Amadi.

Mrs. Margaret Adanna Amadi

The federal government has constituted a 10-man committee to oversee the posting of directors from the Office of AccountantGeneral of the Federation to revenue-generating agencies. The Accountant-General of the Federation, Mr. Ahmed Idris confirmed the development during the closing session of a management retreat for treasury directors of finance and accounts and directors of internal audit. The retreat has as its the theme, “Global best practices in 21stcentury treasury management.”

The Accountant-General in a statement issued yesterday commended the minister for approving the posting of Treasury Directors to Revenue Agencies and said that the committee would handle all issues relating to the postings. Ahmed said his office would continue to take informed decisions and actions that would make the Treasury more efficient. He said his office would continue to align its responsibilities with the expectations of Nigerians and will make changes where

the need arises. Idris said the sustenance of the successes of the ongoing public finance management reforms of the Federal government, depends on the efforts and integrity of Directors of Finance and Accounts and Directors of Internal Audit. He said since the responsibility of implementing the financial reforms in the Ministries, Departments and Agencies rests on the Treasury Directors, it is expedient for them to be committed and hardworking.

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FG Gets 30-day Ultimatum to Prosecute Sacked FIIRO Boss The federal government has been given a 30-day ultimatum to prosecute dismissed former Acting Director-General of the Federal Institute of Industrial Research, Oshodi, Mr. Chima Igwe, or face legal actions. Nigeria’s leading anti-corruption group said on Sunday that Mr Igwe committed felony and should face the consequences. Igwe was sacked following intensive campaign led by Human and Environmental Development Agenda, (HEDA Resource Centre) after a string of media reports that the former FIIRO boss could not justify his PhD certificate said to have been obtained from Universite Nationale du Benin (now Universite d’AbomeyCalavi) in the Benin Republic upon which he had received series of

promotions and awards. It was reported that the only evidence of the purported PhD for 18 years was an attestation letter. HEDA’s campaign for probe prompted the dismissal of the former FIIRO Acting Director General by the Nigerian authorities. In a petition addressed to the Attorney General and Minister of Justice, Mallami, HEDA urged the federal government to ensure Igwe faces the full weight of the law. “There cannot be two laws for poor and rich Nigerians. Ordinary people who forged documents are jailed. The rich should not be spared. Igwe till date has not justified that he earned a PhD He has been sacked by the Federal Government. That action is not enough. He has to explain to

Nigerians whether he actually earned a PhD or not. It was on the basis of his so called PhD that he earned salaries and privileges from the public resources for 17 years,” HEDA Chairman, Mr. Olanrewaju Suraju wrote in the petition. Suraju said the failure of the

former Acting Director-General of FIIRO to produce his certificate is as relayed in the provisions of Section 105 of the Criminal Code Act which states that Any person who, being authorised or required by law to give any certificate touching any matter by virtue whereof the rights of any person

may be prejudicially affected, gives a certificate which is, to his knowledge, false in any material particular, is guilty of a felony and is liable to imprisonment for three years”. HEDA said Igwe’s action amounts to obtaining under false pretence, as stated in Section 418

of the Criminal Code Act which states that “Any representation made by words, writing, or conduct, of a matter of fact, either past or present, which representation is false in fact and which the person making it knows to be false or does not believe to be true, is a false pretence.”

ICPC to Track Executive Projects The Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC), Prof. Bolaji Owasanoye, has disclosed that the commission would this month begin tracking of projects being executed by the federal government’s ministries and departments to ensure quality project delivery across the country. A statement by the spokesperson for the commission, Mrs. Rasheedat Okoduwa, said the ICPC chairman stated this during a two-day retreat for management of the commission and members of the National Assembly Committees on Anti-Corruption. Owasanoye said tracking of executive projects under the Constituency and Executive Project Tracking Group initiative of the commission was informed by the success recorded in the constituency tracking project last year. “We fully appreciate that apart from constituency projects, other projects being executed by ministries, departments and

agencies that are not connected to members of the National Assembly will also be tracked. “Consequently, starting from March, the ICPC will commence the tracking of both executive and constituency projects.” Owasanoye added that the commission had already listed priority sectors and projects for the exercise. According to him, the focus would be on key sectors of education, health, agriculture, power and water resources. The ICPC chairman said the commission would employ technology to track all the priority projects, saying that the 2020 national budget had been broken down and analysed by the ICPC to ensure proper tracking. “We have already dissected the 2020 budget. We have broken it down on a sectoral basis. We will also leverage technology. We have engaged partners who have technologies that will track all the hospitals in Nigeria. We will use these technologies so that nobody will lie to us.”

Malami Writes SERAP, Demands List of Ex-govs, Ministers Collecting Double Pay The federal government has asked Socio-Economic Right Accountability Project (SERAP) to send the full list of former governors and ministers that have received or are receiving double pay and life pensions in order to enhance and ensure compliance with the judgment of the court. The letter follows the judgment last year ordering the government to challenge the legality of states’ pension laws and recover public funds collected by former governors and ministers. SERAP had earlier sent a letter to theAttorney General of the Federation and Minister of Justice, Mr. Abukabar Malami, asking him to advise and persuade President Muhammadu Buhari to fully enforce, the judgment. In his reply dated February 24, 2020 but which SERAP said it received March 2, 2020, Malami said: “Kindly refer to your letter dated December 6, 2019. I am writing to inform your esteemed organisation to furnish me with the full list of the former governors and ministers, which are affected by the judgment by Justice

Oluremi Oguntoyinbo, in order to enhance and ensure compliance with the ruling of the honourable court. Please, treat with utmost urgency.” Responding, SERAP’s Deputy Director, Mr. Kolawole Oluwadare said: “We welcome your request for the full list of former governors and ministers. Any further delay in the enforcement of the judgment will continue to undermine the authority and integrity of the Nigerian judiciary. Nigerians cannot wait for you to take legal action to scrap states’ pension laws and fully recover the public funds collected.” SERAP also said: “Immediate obedience to the judgment will be a victory for the rule, and provide an impetus for the government’s anti-corruption fight. It will also be a rare piece of good news for the people of Nigeria, as it will send a powerful message to former governors and ministers that have collected and/ or collecting double pay that they will be held to account for their actions, and mark the end of this state-level impunity.”

A NEW FEATHER TO HIS CAP…

L-R: Edo State Governor, Mr. Godwin Obaseki; his Deputy, Hon. Philip Shaibu; and wife of the state governor, Mrs. Betsy Obaseki, at the annual Independent Award 2019, in Lagos…weekend

Unilorin Alumini Association Elects National Officers The University of Ilorin Alumni Association at its 13th National Congress held in Ilorin Kwara State on March 6, 2020 elected new national officers to steer the affairs of the association for the next four years. The eleven distinguished alumni elected were: National President, Dr. Stephen Olawale Fashakin National Vice President I, Alhaji Mohammed

Abbas; National Vice President II, Mr. Abayomi Olumuyide; National Publicity Secretary, Yeye Bolanle Olatunde; and Secretary General, Dr. Faoziyat Sulaimon. Others were: Assistant Secretary General, Dr. Lai Oparinde; National Social Secretary, Comrade Nester Taiwo Oluwatoba; National Financial Secretary, Dr. Musa Abdullahi; National

Treasurer, Prince Aderopo Ogunsade; National Auditor I, Mr. Benjamin Ampitan; and National Auditor II, Ms. Fasilat Olajumoke Rafiu. In his acceptance speech, the new National President commended the immediate past administration led by Dr. Rhoda Oduwaiye for its laudable achievements promising that his team would

build and improve on these to further reposition the Alumni Association to world standards. In his goodwill message at the event, the Vice-Chancellor of the university, Prof. Sulyman Age Abdulkareem also commended the unflinching support of the Alumni association towards the university community and encouraged it not to relent.

Gombe, Osun Govs Felicitate with Osinbajo on 63rd Birthday Yinka Kolawole in Osogbo and Sawo Fadeji in Gombe Governor Adegboyega Oyetola of Osun State and his Gombe State counterpart, Alhaji Muhammadu Inuwa Yahaya, have felicitated with Vice President Yemi Osinbajo on the occasion of his 63rd birthday anniversary. Oyetola in a statement issued by his Chief Press Secretary, Ismail Omipidan, commended Osinbajo for the sterling leadership qualities he has exhibited as the vice president of the country and head of the National Economic

Council (NEC). The governor described Osinbajo as a successful legal practitioner, an accomplished public servant, committed and patriotic Nigerian, whose commitment to the unity and progress of the country is never in doubt. He appreciated him for his selfless service to the nation, noting that the country and its people have benefited immensely from his vast knowledge and brilliance, wealth of experience in public service and leadership qualities. Oyetola said: “I thank

God on your behalf for the remarkable achievements and accomplishments he has enabled you to record both in private and public life. You are a great leader whose attributes are worthy of emulation by the younger generation of Nigerians.” The governor also praised the vice president for being a faithful and dependable ally of President Muhammadu Buhari, saying he is doing well to assist the president in achieving his administration’s agenda of tackling security, fighting corruption and revamping the country’s economy.

On his own, the Gombe State Governor, Yahaya, also felicitated with Osinbajo as he clocks 63 today. In a message issued on behalf of the state government and the people of the state, which was signed by the Senior Special Assistant (Media and Publicity)to the state governor, Ismaila Uba Misilli, and made available to journalists at the weekend, Yahaya described Osinbajo as a cerebral leader with exceptional humility which has always manifested while carrying out his duties.

Emir of Borgu Suspends Councillors over Bandit Attacks Laleye Dipo in Minna Emir of Borgu in Niger State, Alhaji Muhammed Haliru Dantoro, has suspended some of his councilors for allegedly harbouring some Fulani men in the emirate. The emir has also set up a committee to investigate the suspended councilors. A letter suspending the councilors was signed by the Secretary of the Emirate Council, Alhaji Abubakar Jibril. The suspended councilors,

according to the letter, were accused of violating the security arrangements put in place by the state government and the emirate council, which among other things, was to monitor strange people entering the emirate and report such persons to the emir. The suspension, which is with immediate effect, was also because “the Emirate will not allow anything that will jeopardise the efforts of the government to address the security challenge facing the

state and the emirate”. The emir has therefore set up a five-man committee to investigate the activities of the suspended councilors and in particular find out what led to their issuance of residence letters and subsequently allowing them entry into Borgu emirate without his (emir’s) knowledge for proper documentation. The committee, which has one week to submit it reports has the Vice Chairman of Borgu Local Government Area, Alhaji Adamu Dodo, as chairman;

Alhaji Adamu Isah ( Iyan Borgu); Mallam Saifullah Haruna; and Mallam Abubakar Sadiq as members, with Alhaji Idris Isah (Danburam Borgu) as secretary At the height of the security breach in the state, Governor Abubakar Sani Bello had held a meeting with all the traditional rulers in the state where he urged them to keep a close watch on their domains and report any suspicious movement.

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MONDAY MARCH 9, ͺ͸ͺ͸ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NPFL: Tragedy in Lafia as Nasarawa Utd Defender Slumps, Dies Duro Ikhazuagbe and Igbawase Ukumba in Lafia The Match-day 23 fixtures of the Nigerian Professional Football League (NPFL) was highlighted by the tragic news of the death of Nasarawa United FC defender, Chineme Martins, who was reported to have slumped during the Solid Miners’ home clash with Katsina United in Lafia. Martins who spotted jersey number 20, slumped in the centre circle in the 47th minutes of play after colliding with a Katsina United player. All efforts to revive him

by the medical team of Nasarawa United FC proved abortive. He was thereafter rushed to the hospital where he was pronounced dead.

The late Chineme Martins who slumped and died during the NPFL clash between Nasarawa United and Katsina United in Lafia…yesterday

Nasarawa State Gov. Abdulahi Sule who was at the stadium during the match was shocked after the news was broken to him at the end of the match that Martins had died. Addressing journalists later, Governor Sule extended his heartfelt sympathy to the family of the deceased player, Players and officials of the Nasarawa State owned team were crying as they couldn’t celebrate their 3-0 win over the visitors from Katsina. Chairman of Nasarawa United FC, Isaac Danladi, Nasarawa State FA

Chairman, Mohammed Alkali, the Executive Secretary of the Club Owners Association of Nigeria, Alloy Chukwuemeka and the match officials were all at the Dalhatu-Araf Specialist Hospital mortuary in Lafia at the time of filling this report. Meanwhile, Plateau United maintained their hold on the summit of the Nigerian topflight following their 1-0 away win at Wikki Tourists. Sunday Anthony scored the winning goal in the 33rd minute. Plateau remain on top with 43 points from 23 matches.

Rivers United have maintained their pressure on Plateau United with a 1-0 win against FC Ifeanyiubah in Port Harcourt. Ogbonna Onuoha netted the winning goal seven minutes from time. The Pride of Rivers are second on the log with 42 points from 23 games. In Makurdi, Kano Pillars forced their hosts Lobi Stars to a 2-2 draw while MFM and Enugu Rangers battled to a 0-0 draw at the Agege Stadium In Akure, Sunshine Stars recorded a slim 1-0 win against Abia Warriors with Fuad Ekelojuoti scoring the winning goal five minutes

after the break. Dakkada FC also beat Heartland 1-0 at the Godswill Akpabio Stadium, Uyo with Osimaga Duke getting the winner a minute from regulation time. At the Sani Abacha Stadium in Kano, Jigawa Golden Stars rallied back from a goal down to beat Kwara United 2-1.

NPFL MATCHDAY 23 Wikki 0-1 Plateau Utd Jigawa Utd 2-1 Kwara Utd Lobi 2-2 K’ Pillars Dakkada 1-0 Heartland Rivers Utd 1-0 Ifeanyiubah MFM 0-0 Rangers Adamawa 0-1 W’Wolves Sunshine 1-0 A’Abia

N AT I O N A L S P O RT S F E ST I VA L

Rivers Athletes Reject Re-engagement of Adeleye A number of athletes registered by Rivers State for the forthcoming National Sports Festival have threatened to dump the state if former Technical Director of the Athletics Federation of Nigeria (AFN), Sunday Adeleye is reengaged as Consultanton Sports by the state government. The speculation was rife last week that Adeleye would be reengaged following the appointment of Honourable Boma Iyaye as the state’s Sports Commissioner. Iyaye engaged Adeleye as consultant on sports for River State for the last (19th) National Sports Festival held in 2018 in Abuja and many had feared the ‘sacked’ athletes representative on the board of the AFN was on his way back despite his controversial exit from the job last year. Adeleye was alleged to be owing many athletes either part or full payments of allowances despite the state government fulfilling all financial commitments to for the Festival. Iyaye was reported to have revealed last week on a radio programme aired in Port-Harcourt that all monies appropriated for the last Festival was with the consultant.

“Nobody is happy that Commissioner Boma (Iyaye) is thinking about bringing Adeleye back so soon after what happened in 2018 and 2019. He has not paid many athletes allowances and salaries for the last Festival because of that we have lost many athletes and coaches to Delta and Edo states. Many more will leave if Adeleye who was rejected by track and field athletes as their representative on the board of the AFN is brought back,” said Idowu Kokowa, one of the coaches who echoed the sentiments expressed by many others on social media. Kokowa revealed he and a few others have sent text messages to Commissioner Iyaye expressing their unhappiness with the planned re-engagement of Adeleye. “Adeleye was invited to a panel set up by the state government last year after the athletes staged a protest to the governor, Nyesom Wike but he (Adeleye) shunned the panel. We don’t know the outcome of the panel report but what we know is that he (Adeleye) is owing a lot of athletes and coaches,’ revealed Kokowa.

Elizade to Host 5th Nigerian Universities Golf Tour Elizade University will host the 5th edition of the Nigerian Universities Golf Tour in IlaraMokin, Ondo State, with over 30 higher institutions participating . The event would be staged at the Smokin Hills Golf Resort, Ilara Mokin from March 13 to 15, 2020. According to Bayo Aderinto, the Manager at the host course, the event is one of the unique ways the management of the course is contributing to the development of the game of golf. “Most of golf development programmes are focused on kids and club members, which clearly shuts out teenagers and young adults especially those in tertiary institutions. This is what we are out to encourage and develop”, he said. He added that the event compliments the Nigeria Golf Federation’s development agenda and also have rippling

effect on the future of the game in the country. Aderinto said credit should be given to Toyota, Work and Play, Wema Bank, JAC Motors and others. Also, to the Founder of Elizade Group of companies, Chief Michael Ade. Ojo for the vision and sponsorship of the event from inception. The event is jointly organised by Elizade University, Smokin Hills Golf Resort and Wole Adamolekun Foundation for all Nigerian Universities. Guardians and parents of participating players would also have the chance of striding at the Smokin Hills Course as they would be participating as special guests during the 54 holes encounter. Best player will be the overall gross player at the event, while net and other ancillary prizes would be awarded at the event too

Israel Adesanya (left) and Yoal Romero during the UFC fight early hours of Sunday in Las Vegas. Adesanya won the fight on a unanimous decision to retain his middleweight title

Edo 2020: Sport Minister, MOC Expected in Benin Tuesday for Final Inspection With barely 13 days to the kick off of the 20th National Sports Festival, the Minister of Sports, Sunday Dare and members of the Main Organising Committee (MOC) of the multi-sports fiesta are expected to storm Benin City tomorrow, March 10 for the final Inspection of facilities earmarked by the Edo State Government to host the Games. Musa Ebomhiana, Chief Press Secretary to the Edo State

Deputy Governor confirmed the visit of the Minister and the MOC members at the weekend, stressing that almost all the facilities were ready to host the Nigerian version of the Olympics. “The Honorable Minister of Sports and Youth, Mr. Sunday Dare is expected in Benin City on Tuesday for the final inspection of the facilities provided by our state government to host the 20th

National Sports Festival. This is the last inspection before the Games Will kick off on March 22, 2020,” observed the CPS at the weekend. With almost all the facilities installed at the Samuel Ogbemudia Stadium, Edo is set to host the festival that will be the reference point in a long while. A visit to the Ogbemudia Stadium recently showed a

total transformation of the edifice to a world-class stadium with the most modern technology in place. From the lush green natural grass turf in the main-bowl to the four changing rooms for players, Edo State government has gone the extra mile to reconstruct the former Ogbe Stadium to perhaps, the best sporting edifice in the country today.

…Edo 2020 Broadcast Rights Still up for Grabs The Marketing Committee for the 20th National Sports Festival tagged Edo 2020 has said that no television station in Nigeria has been granted the terrestrial rights to produce and broadcast the events of the competition and has called on all broadcast media interested in acquiring the rights to make formal bids to the committee. Chairman of the committee, Mike Itemuagbor, said at the weekend that interested television houses should come forward with their bids and open discussion

with the committee. “As at today, no television station in Nigeria or elsewhere has been granted the rights for the live coverage, tapedelayed coverage, practices and interviews of the festival,” said Itemuagbor who says broadcast rights are rights which a broadcasting organisation will negotiate with the committee in order to get the events of the Festival screened on television either live, delayed or just highlights. “His Excellency, the Deputy Governor of the state, Honourable Philip Shaibu has

said that the Edo 2020 will redefine National Sports Festival in Nigeria and part of that re-definition is to follow international best practices where organisers of sporting events count on money realized from selling the broadcast rights to help finance the organization of the event. ‘’Television and media organisations pay huge sums of money for the exclusive right to broadcast top sporting events live and we want to make the Edo 2020 National Sports Festival a benchmark

for future editions such that we don’t need to pay huge sums to television stations to cover the event when the reverse should be the case,” he said. Itemuagbor revealed that the Federal Ministry of Youth and Sports Development has ceded the broadcast and marketing rights of the Edo 2020 National Sports Festival to the Edo State Government and television stations and companies interested in making use of the huge platform the Festival represents should discuss with his committee.

55

MONDAY MARCH 9, ͺ͸ͺ͸ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NPFL: Tragedy in Lafia as Nasarawa Utd Defender Slumps, Dies Duro Ikhazuagbe and Igbawase Ukumba in Lafia The Match-day 23 fixtures of the Nigerian Professional Football League (NPFL) was highlighted by the tragic news of the death of Nasarawa United FC defender, Chineme Martins,

who was reported to have slumped during the Solid Miners’ home clash with Katsina United in Lafia. Martins who spotted jersey number 20, slumped in the centre circle in the 47th minutes of play after colliding with a Katsina United player.

N AT I O N A L S P O RT S F E ST I VA L

Rivers Athletes Reject Re-engagement of Adeleye A number of athletes registered by Rivers State for the forthcoming National Sports Festival have threatened to dump the state if former Technical Director of the Athletics Federation of Nigeria (AFN), Sunday Adeleye is re-engaged as Consultanton Sports by the state government. The speculation was rife last week that Adeleye would be re-engaged following the appointment of Honourable Boma Iyaye as the state’s Sports Commissioner. Iyaye engaged Adeleye as consultant on sports for River State for the last (19th) National Sports Festival held in 2018 in Abuja and many had feared the ‘sacked’ athletes representative on the board of the AFN was on his way back despite his controversial exit from the job last year. Adeleye was alleged to be owing many athletes either part or full payments of allowances despite the state government fulfilling all financial commitments to

for the Festival. Iyaye was reported to have revealed last week on a radio programme aired in Port-Harcourt that all monies appropriated for the last Festival was with the consultant. “Nobody is happy that Commissioner Boma (Iyaye) is thinking about bringing Adeleye back so soon after what happened in 2018 and 2019. He has not paid many athletes allowances and salaries for the last Festival because of that we have lost many athletes and coaches to Delta and Edo states. Many more will leave if Adeleye who was rejected by track and field athletes as their representative on the board of the AFN is brought back,” said Idowu Kokowa, one of the coaches who echoed the sentiments expressed by many others on social media. Kokowa revealed he and a few others have sent text messages to Commissioner Iyaye expressing their unhappiness with the planned re-engagement of Adeleye.

All efforts to revive him by the medical team of Nasarawa United FC proved abortive. He was thereafter rushed to the hospital where he was pronounced dead. Nasarawa State Gov. Abdulahi Sule who was at the stadium during the match was shocked after the news was broken to him at the end of the match that Martins had died. Addressing journalists later, Governor Sule extended his heartfelt sympathy to the family of the deceased player, Players and officials of the Nasarawa State owned team were crying as they couldn’t celebrate their 3-0 win over the visitors from Katsina. Chairman of Nasarawa United FC, Isaac Danladi,

Nasarawa State FA Chairman, Mohammed Alkali, the Executive Secretary of the Club Owners Association of Nigeria, Alloy Chukwuemeka and the match officials were all at the Dalhatu-Araf Specialist Hospital mortuary in Lafia at the time of filling this report. Meanwhile, Plateau United maintained their hold on the summit of the Nigerian topflight following their 1-0 away win at Wikki Tourists. Sunday Anthony scored the winning goal in the 33rd minute. Plateau remain on top with 43 points from 23 matches. Rivers United have maintained their pressure on Plateau United with a 1-0 win against FC Ifeanyiubah in Port

Harcourt. Ogbonna Onuoha netted the winning goal seven minutes from time. The Pride of Rivers are second on the log with 42 points from 23 games. In Makurdi, Kano Pillars forced their hosts Lobi Stars to a 2-2 draw while MFM and Enugu Rangers battled to a 0-0 draw at the Agege Stadium In Akure, Sunshine Stars recorded a slim 1-0 win against Abia Warriors with Fuad Ekelojuoti scoring the winning goal five minutes after the break. Dakkada FC also beat Heartland 1-0 at the Godswill Akpabio Stadium, Uyo with Osimaga Duke getting the winner a minute from regulation time. At the Sani Abacha Stadium in Kano, Jigawa Golden Stars rallied back from a goal down to beat

Kwara United 2-1.

The late Chineme Martins who slumped and died during the NPFL clash between Nasarawa United and Katsina United in Lafia…yesterday

NPFL MATCHDAY 23 Wikki 0-1 Plateau Utd Jigawa Utd 2-1 Kwara Utd Lobi 2-2 K’ Pillars Dakkada 1-0 Heartland Rivers Utd 1-0 Ifeanyiubah MFM 0-0 Rangers Adamawa 0-1 W’Wolves Sunshine 1-0 A’Abia

Israel Adesanya (left) and Yoal Romero during the UFC fight early hours of Sunday in Las Vegas. Adesanya won the fight on a unanimous decision to retain his middleweight title

Edo 2020: Sport Minister, MOC Expected in Benin Tuesday for Final Inspection With barely 13 days to the kick off of the 20th National Sports Festival, the Minister of Sports, Sunday Dare and members of the Main Organising Committee (MOC) of the multi-sports fiesta are expected to storm Benin City tomorrow, March 10 for the final Inspection of facilities earmarked by the Edo State Government to host the Games. Musa Ebomhiana, Chief Press Secretary to the Edo State

Deputy Governor confirmed the visit of the Minister and the MOC members at the weekend, stressing that almost all the facilities were ready to host the Nigerian version of the Olympics. “The Honorable Minister of Sports and Youth, Mr. Sunday Dare is expected in Benin City on Tuesday for the final inspection of the facilities provided by our state government to host the 20th

National Sports Festival. This is the last inspection before the Games Will kick off on March 22, 2020,” observed the CPS at the weekend. With almost all the facilities installed at the Samuel Ogbemudia Stadium, Edo is set to host the festival that will be the reference point in a long while. A visit to the Ogbemudia Stadium recently showed a

total transformation of the edifice to a world-class stadium with the most modern technology in place. From the lush green natural grass turf in the main-bowl to the four changing rooms for players, Edo State government has gone the extra mile to reconstruct the former Ogbe Stadium to perhaps, the best sporting edifice in the country today.

…Edo 2020 Broadcast Rights Still up for Grabs The Marketing Committee for the 20th National Sports Festival tagged Edo 2020 has said that no television station in Nigeria has been granted the terrestrial rights to produce and broadcast the events of the competition and has called on all broadcast media interested in acquiring the rights to make formal bids to the committee. Chairman of the committee, Mike Itemuagbor, said at the weekend that interested television houses should come forward with their bids and open discussion

with the committee. “As at today, no television station in Nigeria or elsewhere has been granted the rights for the live coverage, tapedelayed coverage, practices and interviews of the festival,” said Itemuagbor who says broadcast rights are rights which a broadcasting organisation will negotiate with the committee in order to get the events of the Festival screened on television either live, delayed or just highlights. “His Excellency, the Deputy Governor of the state, Honourable Philip Shaibu has

said that the Edo 2020 will redefine National Sports Festival in Nigeria and part of that re-definition is to follow international best practices where organisers of sporting events count on money realized from selling the broadcast rights to help finance the organization of the event. ‘’Television and media organisations pay huge sums of money for the exclusive right to broadcast top sporting events live and we want to make the Edo 2020 National Sports Festival a benchmark

for future editions such that we don’t need to pay huge sums to television stations to cover the event when the reverse should be the case,” he said. Itemuagbor revealed that the Federal Ministry of Youth and Sports Development has ceded the broadcast and marketing rights of the Edo 2020 National Sports Festival to the Edo State Government and television stations and companies interested in making use of the huge platform the Festival represents should discuss with his committee.

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Fayemi to FG “Why do we have a unitary policing system in a federal structure? Does it not fly against reasoning that a state would have a state legislature to make its laws, the state judiciary to interpret them, but would not have a state police to enforce the law?” – Ekiti State Governor, Dr. Kayode Fayemi, identifying some flaws in the federal structure being run in the country.

ALEXOTTI Let’s Reject Technology for a Change OUTSIDE THE BOX

alex.otti@thisdaylive.com

“Every guinea fowl calls out in the language of its own hometown” - Old African Proverb “When my information changes, I alter my conclusions. What do you do, sir?” - John Maynard Keynes, (1883-1946)

T

oday, I am going to depart slightly from my tradition of avoiding any discussion relating to my previous life in the last financial institution that I headed, namely, the erstwhile Diamond Bank PLC. I will, however, disappoint those who are expecting me to comment on some of the more recent events in the bank. My response remains that I do not have the anointing to know what is happening at, and to, a place that I left more than six years ago. A few things on record include that I was blessed and lucky to work with a team of intelligent and highly skilled people who were exceptionally motivated, and who delivered consistently on all performance indices. All the credit for the successes we recorded during my four-year tenure goes to them, individually and collectively. All that we achieved at Diamond Bank was made possible through the utilisation of our most important asset; our people, who always strove to do more to remain on top. One of such people that I would use this column to celebrate today is a gentleman called Premier Oiwoh, the current CEO of the Nigerian Interbank Settlement System (NIBSS). He was then the General Manager and Head of Operations and Technology. He equally had an excellent and talented army of young men and women working with him. I called him up one day and challenged him to come up with a solution that would enable our customers make both local and international payments, from the comfort of their homes and offices. He quickly assembled a small but dedicated team and set to work. In a few weeks they made me a presentation that surpassed all my expectations. What I had in mind was a system that would work on a desktop computer. They went ahead to develop one that could, in addition, work on mobile handheld devices. When all the tests and checks were completed, we implemented the solution successfully. They improved the security of the service by developing a token that could be generated automatically. I remember visiting a bank in the UK years later where they introduced a manually generated token to me with much fanfare. I literally laughed them to scorn, and proudly announced to them that we had automated tokens a while back where I came from in Nigeria. Now, the flip side of the invention by my team of technology wizards was that because many of our customers, particularly the youthful ones, jumped on the application and practically stopped coming to the bank to carry out their transactions, our manpower requirements continued to drop even when we were expanding.. Duncan Eke, an exceptionally brilliant engineer graduated on top of his class with a First Class honours degree. I believe he is from Bayelsa State. Years ago, he was a senior management staff in Mobil Producing Nigeria Unlimited, now ExxonMobil. He oversaw the Mobil Natural Gas Liquids (NGL) facility in Bonny, Rivers State. The multimillion-dollar NGL is basically a project aimed at reducing gas flaring as the plant converts associated gas to natural gas for the export market. I visited Mr. Eke shortly after the commissioning of the plant and was pitching for the business of the staff of the company. I was surprised to hear him explain the level of automation of the plant. He

Minister of Science and Technology, Dr Ogbonnaya Onu demonstrated on his laptop, how the plant was managed without human intervention. To cut the story short, he only required security men to secure the facility and could run the facility from his office in Port Harcourt without any human being. I was surprised to learn that this level of investment was only able to generate jobs for machines and not human beings who actually needed the jobs. I brought these examples up, in one breath, to say that we have what it takes in Nigeria, when we set our minds to it, and in the other breath, to warn that in trying to be like the rest of the world in our quest for technological advancement, we can unwittingly initiate what may bring us severe social and economic consequences In the aftermath of the Great Depression, there was massive unemployment in the United States of America. Theodore Roosevelt, who was President, sought ways of reflating the economy. He proposed the ‘New Deal’ in which he saw creation of job opportunities as one of the strategies for bringing the economy back to life. He encouraged all ways of putting money in the hands of the people. According to his radical ideas, it was important to create employment, even if it meant paying people to dig holes and fill them up again. The import of this story is that Nigeria is at the point in her economic history when there is need to take radical measures to solve our problems. In my considered opinion, the biggest challenge facing us today is how to ensure that many of our citizens have jobs. Creating employment for an economy that is in the doldrums is a very important in reviving it. In the same vein, I believe that the Nigerian situation is one that begs us to look at the challenges that we face and proffer solutions that are tailored to our peculiar needs. With that in mind, we must note that there are benefits that technology can bring to Nigeria, but it is important that we adopt technology with some circumspection and only to the extent that it helps us solve our problems, without creating worse ones. I would posit that unemployment, especially that of the youth, is the biggest challenge that we face in Nigeria and all our efforts must be geared towards creating more jobs. While not advocating that we retreat to ancient practices, we must look at how to reduce the job queue and provide jobs to the teeming masses. If technology stands in the way of achieving this, then it is time to jettison aspects of such devices or we will all be consumed by the force of angry jobless youth

that is growing every day. The statistics are not very reliable, but even at that, the general trend is worrisome. A general unemployment rate of about 30% and a youth unemployment rate of around 55% are scary numbers. Note that the correct numbers are more likely to be worse than these. We had maintained that there is a direct relationship between banditry and unemployment. The higher the rate of unemployment, the higher the crime rate and other social ills. In order to curb crime therefore, we must begin to think seriously about how to productively engage our people, particularly the youth; who are most susceptible to crime and the evils of idleness. We are all aware of the industrial revolution trajectory. It is said that the fourth industrial revolution is now in force across the universe. After the agricultural revolution came the Industrial Revolution proper, which basically heralded the introduction of new manufacturing processes in the United States and Europe. This was also called the era of the steam engine. New processes were developed and some of the key concepts that came from this were mass production, division of labour and the assembly line. This stage was quickly succeeded by the age of science and knowledge, which eventually gave rise to the third industrial revolution, the digital technology era. With each age, came improvements in productivity and displacement of labour by machines. The fourth industrial revolution marked the introduction of cloud computing, mobile technology, robotics, artificial intelligence, 3D Printing, and Big Data. This is also referred to as the Information Age. Before the industrial revolution of the 18th century, the world was basically agrarian. The loom and the steam engine were inventions that simplified production. Steam power was used for agriculture, textile manufacturing and transportation. Steamships, steam rails and steam engines made life a lot easier. Labour was still central to production. Factories required a lot of hands and hours as most processes were still largely manual. By the 20th century, the second industrial revolution was birthed. This is the one we referred to above as the age of Science and Mass Production. Under this revolution were all sorts of inventions. Airplanes, cars and chemicals were all invented and life became a lot easier and better as more inventions were made. These inventions were applied to factories and productivity increased with the assembly line, division of labour and specialisation being major drivers. Urban dwelling increased and more people were productively engaged. To provide for the increasing level of urbanization, more scientific inventions were made. Radios, electricity, telephones, and mass-produced items were added to the inventions The third industrial revolution that started in the 1950s ushered in computing in its rudimentary stage all the way to the Personal Computers and laptops, semi-conductors and then the internet. This was the disruptive technological stage. Those who are old enough will remember the mainframes of those days and how people used to go to the computer rooms to process data and conduct tasks which today are done with hand-held devices, including telephones. Comparing those days to these days is like comparing day and night. The fourth industrial revolution is already here with us. This revolution in some way seems to derive from the third revolution. We now have electric cars, artificial Intelligence, miniature sensors, genetic sequencing and editing, cryptographic technology, 3D printing and of course cloud computing. One major invention of this era that is redefining life is robotics. Robotics simply

means creating artificial human beings to do what man can and cannot do. Because they are machines, they are precise, hardly make mistakes and can execute assigned tasks flawlessly. When armed to go to war or attack, they cannot be successfully easily repelled. Though created by man, humans cannot do what robots can do!. Each revolution or era brings with it both positive and negative outcomes. While the positive ones are very easily discernible and get celebrated, we seem to ignore or wish away the negative repercussions. Job losses and displacements go with technology. In a world where population growth is trailing economic growth, this should hardly be a problem. In Nigeria where the reverse is the case, I believe we should worry. One of the ways to worry is to deliberately factor it into our planning. We must acknowledge the fact that different parts of the world experience different stages of the Industrial Revolution even as the world is not waiting for anyone. So, while the developed world is massively investing in the fourth industrial revolution, some other parts of the world should be honest to themselves and decide where they are in the industrial revolution trajectory and channel their resources where they belong. By the way, we are not arguing that every country should follow a defined trajectory as that is not historically tenable. The point we are raising is that countries must understand the needs of their people and based on the resources available to them, act in such a manner that would give them maximum benefits. It is along these lines that one quarrels with the “leapfrogging” theory. This theory simply encourages underdeveloped countries to jump from their positions to where developed countries are in the development continuum. What happens is that people end up becoming so consumerist that they position themselves as early adopters of modern technology while poverty, hunger and decay are the order of the day in their countries. I believe it was for this reason that the United Nations noted a few years ago that more people in the world have more access to a mobile phone than basic sanitation. It has been documented that all the industrial revolutions came into being as a result of choices made by individuals. We also acknowledge the fact that sometimes researchers develop and design technologies that change the way people live, work and relate with each other, but the truth is that if those technologies receive little or no adoption, they will die a natural death. Our submission therefore is that we should make choices that solve our local problems rather than following the Jones’s. We should understand that based on our realities, we should be focusing on the second industrial revolution that demands skilled and unskilled labour to ensure we create jobs for our people. The only leapfrogging that would help us here is that given that someone else had made the required inventions several decades ago, we should not reinvent the wheel but copy what had already been invented and implement. In this wise, instead of channeling our investment to the area of big data and sophisticated technology, we should invest in areas of high labour intensity and rudimentary technology. This is one of the ways we can suck up the large reserve army of the unemployed and ensure a low crime environment and better standard of living for our burgeoning population. Bearing the foregoing in mind, the idea of going back to revive agriculture makes a compelling sense. Agriculture will help soak up the huge population of unemployed youth and will also provide basic nutrition to a population that is growing at an alarming rate with little or no opportunities to provide them useful jobs.

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