2015: PDP goofed picking Jonathan - FAYOSE

...towards a better life for the people

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VOL. 25: NO. 62688

ONLINE | www.vanguardngr.com

N150

MONDAY, FEBRUARY 8, 2016

How we'll spend CORRUPTION: N500bn social welfare Amaechi, Ben programmes fund —FG Bruce clash 7

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2015: PDP goofed picking Jonathan—FAYOSE •Says the party should have chosen a Northern candidate •Terrorism: Nigeria would have collapsed if he had won — Dogara •Urges Buhari to organize Int'l donor conference for N-East

By Simon Ebegbulem&Gabriel Enogholase, with agency report

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K I T I — GOVERNOR Ayodele Fayose of Ekiti State, weekend, described the fielding of Dr. Goodluck Jonathan as presidential candidate of the Peoples Democratic Party, PDP, in the last election as a miscalculation by the

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17 die in LagosIbadan road accident 6 Mr & Mrs

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OWEI LAKEMFA

en yyear ear Beko:: TTen earss like yesterday C M Y K

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HEBRY BOYO

To borrow or not to borrow

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OCHEREOME

NNANNA

Malami and his bogus $2trn

COLUMNISTS:

SPEAKER'S VISIT: Speaker, House of Representatives, Yakubu Dogara, consoling 10 year-old Miss Grace Ayuba during his visit to the IDP camp managed by the International Christian Centre for Missions in Uhuoga, Edo State, yesterday, while Pastor Solomon Folorunso of the ICC, (left); Hon. Jubril Satumari, Chairman House Committee on Emergency and Disaster Preparedness, (2nd left) and others look on.

Ooni remains highest ranking Oba in Yorubaland — Alake 10

2—Vanguard, MONDAY, FEBRUARY 8, 2016

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4 —Vanguard, MONDAY, FEBRUARY 8, 2016

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POCKET CARTOON

OIL DEAL—From left: Group MD/CEO, United Bank for Africa Plc, Mr.

Phillips Oduoza; Group Executive Director, Finance & Services, NNPC, Mr. Isiaka Abdulrazaq; Group GM, Company Secretary & Legal Adviser, NNPC, Mr. Chidi Momah and MD, Chevron Nigeria Ltd, Clay Neff, during the presentation of the Thomson Reuters /PFI Magazine “Africa and Middle East Oil Deal of the Year" to the Joint Finance Team (JFT) of NNPC, Chevron, UBA and Standard Chartered at a ceremony held in London.

PDP goofed picking Jonathan — Fayose Continues from Page 1 party.

This came as Speaker of the House of Representatives, Yakubu Dogara also, yesterday, declared that the Boko Haram insurgency would have destroyed Nigeria, if the former President had remained in power, asserting that the defeat of the PDP administration saved the nation from imminent collapse.

Fayose, who disclosed this in an interview, said the defeat could have been averted had the party fielded a northern candidate.

He said: "We lost the election because we did not pick our candidate from the north, not because Jonathan as a

person was bad. It was just a political miscalculation. The fact is that my former President, I chose my word, my former President, Goodluck Jonathan, tried his best.

"But if I were him, I would not have contested at all, you understand?

Because it is two ways: If he did not contest and the PDP lost out, he will still be an honourable man, and if he had given that opportunity to the north, those who defected from the PDP would not have defected.

"But that is story.

Jonathan did his best and I will still continue to support him. You know I was not there when they took the decision about him becoming the flag-

IT'S UP TO YOU

BY AYO ADIO

T

HE noise of crickets’ doesn’t impede the movement of the elephant in the jungle. Do not let the whispers of stagnant individuals distract you. It’s up to.

TAKE HEART

BY ELLA RANDLE

With gratitude comes the realization that we get more than we deserve —Take Heart

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BEAUTIFUL aspect of gratitude is figuring out where that goodness comes from. We recognize the sources of this goodness from life. It didn’t stem from anything we necessarily did ourselves in which we might take pride. We can appreciate positive traits in ourselves, but I think true gratitude involves a humble dependence on something greater. We acknowledge that other people or even higher powers, if you’re of a spiritual mindset, enables life’s bountifulness to help us achieve the goodness in our lives.

SAYINGS OF OUR PEOPLE

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o matter how plenty a snail's spittle is, it cannot quench the fire.

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bearer, but it doesn’t matter. We can’t all put our mouth inside the soil.

Somebody must remain with somebody. I will remain with Jonathan, even if I am the only man standing.

"A man is not measured by the amount of food he has and the amount of properties he owns.

Sometimes sickness is good, it reshapes your life. Sometimes poverty is good, it helps your life.

Sometimes failure makes you to reorder your life. It is not the end of your life."

On what would become of PDP, in view of 2019 elections, Governor Fayose said though the party was going through challenges at the moment, it could still come out of its present challenge before the next round of elections.

"Let me explain something to you. When you have an accident, God forbid, you don’t gather momentum immediately.

Life is physical, it is normal. What the PDP is going through now is a deliberate effort to destabilize the opposition by the APC and we know that."

On whether he had his eyes on the Presidency in 2019, Fayose said: "For which country? Nigeria?

Well, I don’t have such an ambition but I know I am going higher. Mark my words, I have said 20 things that will happen in Nigeria and more than seven have come to pass.

Check the records."

On the role played by soldiers in Ekiti and Osun elections, the governor said: "My own is that I have gone through an election. I have won an election. There is a place the law says you can

ventilate your displeasure. They have gone to the lower court, the appeal court and the Supreme Court.

"The Supreme Court has given judgment in my favour. They have become functus officio.

They cannot approbate and reprobate on the matter anymore. The election matters are Suris generis. They operate within the ambit of time.

"The military was represented by a lawyer and the police was represented by a lawyer.

This one is an afterthought. During the National Assembly election, how did I win all the seats?

"Two weeks after the House of Assembly election, I won everything, 26-26. Is it the military again? When the male friend of your mother is more powerful than your father, you call him daddy. You welcome him and take his bag.

"Let them take my bag and accept this Ekiti matter. This Bayelsa election we just finished, 14 people died, how many people died in Ekiti? If you see my prediction about Nigeria under Buhari, I said every effort to forcefully take the South-South states will result in a huge loss of lives.

"They should leave me alone. They should face governance. God has given me this place. No amount of powers will take this place from me because the gift of God is without repentance. How can only me defeat three governors - Segun Oni, Adebayo and Fayemi. I defeated them and they are still complaining."

PDP defeat saved Nigeria — Dogara Meanwhile, speaker of the House of Representatives, Yakubu Dogara, yesterday, declared that the Boko Haram insurgency would have destroyed Nigeria if President Goodluck Jonathan had remained in power, asserting that the defeat of his government saved the nation from imminent collapse.

While declaring that President Muhammadu Buhari’s administration was winning the war against insurgency, Dogara called on the President to immediately organize an International donor conference for the North East, saying funds realized from such a conference would be used to rebuild the war-torn region.

The speaker stated this when he visited the Internally Displaced Persons, IDPs, camp at Uhogua in Ovia North

East Local Government Area of Edo State.

Addressing the IDPs, Dogara who, expressed shock at the number of IDPs in the camp, lamented that PDP’s government failed to tackle the war as expected.

He said this created the current crisis in the country and commended Edo State government and the General Overseer of the camp, Pastor Folorunsho Solomon, for keeping the camp running.

He vowed to ensure that the National Assembly played its part to ensure that IDPs were well taken care of.

His words: “I want to thank God for the intervention in our affairs that he brought change in government. If we had continued like before, probably the Boko Haram fighters would have reached places like Jos by now.

"It would have been millions of IDPs but God heard our prayers, he brought change in government. And the commitment in ending this fight has commenced in earnest by this administration.

“We have seen that attacks have reduced drastically. So it is hoped that very soon, may be this year, most likely most of us who are here today and want to go back to their communities may be able to do that.

"They will go back without any fear of intimidation, we must do it because we have no other country but Nigeria.”

The speaker, who donated bags of rice, beans, wheat, sugar and other items, promised to offset the bills of students in the camp involved in NECO and WAEC examinations.

“I never knew that I will see this multitude of my own brothers and sisters.

I have been told but maybe I did not believe enough, but the moment I stepped into the church, I saw a people that are determined not to be broken, in spite of the circumstances of their life.

“Apart from the war

against terrorism, we in the House of Representatives are trying to pass a law that will establish the North East D e v e l o p m e n t Commission.

"So if that happens, it means we are going to have funds that will be used to rebuild the communities that you have come from when the war is over. And we will ensure that every fund meant for that is channelled for that purpose. Apart from that, there is a provision in the budget that will take care of you.

“That is to say that the government has not forgotten you. And we have been encouraging private sector participation in managing the IDP crisis in Nigeria.

"We have the victim support fund that is private sector driven. It is led by one of our eminent sons, Gen.T.Y.Danjuma.

"In addition, we have been calling on government to organize what is known as the International donor conference for the North East.

“Just recently, it was done for Syria, so we want to reiterate this call for government to immediately convene an international donor conference for the North East.

"So as soon as these funds start coming, we will make sure that wherever IDPs are in Nigeria, the hands of help to all IDPs in Nigeria will come. So as long as this government endures, you will always be in our heart.

“Because we are in church, I will talk to you from the perspective of Christianity. I have not come here like any other politician, as I must sympathise with you, I must also encourage you.

"I know the circumstances that brought you here because I am part of that region of the North East as well. And I remember that in my own local government, I had to concede one of my houses for IDPs from Yobe and some parts of Borno State."

6—Vanguard, MONDAY, FEBRUARY 8, 2016

Police arrest 2 with human head

By Gbenga Olarinoye

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WO men, Korede Ayofe and Jimoh Bello, were weekend arrested by officers of Osun State Police Command for allegedly being in possession of human head in Iwo, headquarters of Iwo Local Government Area.

According to police sources, the suspects were apprehended in Owoyo area of the town by the police patrol team, acting on a tip-off.

Also in the possession of the suspects at the time of their arrest were a sharp knife, hoe and a motorcycle.

A reliable police source said the head the two men were caught with was already decomposing.

8 suspected child traffickers arrested

By Ugochukwu Alaribe

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BA—THE Police in Abia State have arrested four persons suspected to be members of a child trafficking syndicate operating in the South-East zone of the country.

Also arrested were four suspected kidnappers, who have been terrorizing the residents of Aba and environs.

Vanguard gathered that the suspects, Chidubem Nwachukwu, Florence Nwokocha, Onyekwere Okeiyi and Chukwunonye Emerenini were arrested following a tip-off by one of their victims, who was lured to Umuahia by one of the suspects she met at a motor park in Aba. Spokesman of Abia State Police Command, DSP Ezekiel Onyeke, told Vanguard that one of the suspects, Chidubem Nwachukwu met a victim at a motor park in Aba with her two children begging for alms and promised to marry her and take care of her children, aged two years and six months, respectively.

The victim later followed Nwachukwu to Umuahia where he took her to a beauty salon in Umuahia to fix her hair, but deceived her and stole her children who were later rescued at Umudem, Ikeduru council area of Imo State.

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FLEEING HOME: Women fleeing after Friday’s Boko Haram attack in Mairi village, Konduga Local Government Area, Borno State, yesterday. NAN PHOTO.

10 killed, 300 homeless as Fulani herdsmen invade Benue villages

By Peter Duru

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AKURDI—NO fewer than 10 persons were feared dead yesterday, in an outbreak of fresh hostilities between Fulani herdsmen and farmers at Tom-Anyiin and TomAtaan communities, Mbaya, Tombu in Buruku Local Government Area of Benue State.

This is just as the Council Chairman, Godwin Iorsue, the Divisional Police Officer at Buruku, the Area Commander and other stakeholders in the area, on assessment tour of the communities, were ambushed and attacked by the herdsmen who had seized the area and sacked the inhabitants.

Vanguard gathered that the renewed crisis has created a huge refugee situation in the area with over 300 people displaced from the affected communities and scores injured in the bloody clash.

A source from one of the affected communities disclosed that the Fulani invaders stormed the communities late Saturday night, shooting sporadically and burning down houses, huts, food barn, farmland and economic trees.

The source said: “As I speak with you, fighting is still raging in the affected communities. Although I cannot give you a precise figure of the dead, about 10 have been killed, many are missing and many others sustained injures.”

Meanwhile, the Council Chairman, Mr. Godwin Iorsue, who spoke on phone, said that he had invited senior security officers to accompany him in assessing the situation, when they were ambushed and attacked by the herdsmen.

Iorsue said: “It was only God that saved us. They were over 30 and well armed while we had only four armed police

officers with us. Our cars were perforated with bullets.”

When contacted, the Police Public Relations Officer, Assistant Superintendent Moses Yamu, who confirmed the attack on the Council Chairman and his entourage, said no live was lost.

Yamu said: “The people ran away from their communities in fear of a possible attack by Fulani herdsmen, but there were neither killing nor destruction of property in the area.

“I can confirm that the DPO, the Area Commander, the

Caretaker Council Chairman and selected stakeholders were attacked by suspected herdsmen when they visited to assess the situation in the area.”

At press time, Vanguard gathered that fighting in the two communities was still raging.

17 die in Lagos-Ibadan road accident

By Ola Ajayi

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BADAN—NO fewer than 17 persons have been confirmed dead, while 79 others were seriously injured in an auto crash that occurred on Lagos-Ibadan expressway yesterday.

According to information gathered, the accident involved an articulated vehicle, marked AA 902 MML, and a Peugeot bus.

According to the Oyo State Sector Commander, Federal Road Safety Corps, FRSC, Yusuf Salami, the ill-fated vehicles were on their way to

Lagos when the accident occurred at Sepo area of the road.

He said the cause could be blamed on excessive speed and impatience.

He said: “A Peugeot J5, with plate number XS 626 LSV and a DAF articulated vehicle crashed as both drivers were struggling for the right of way.

They were both going to Lagos when the accident occurred on Sunday.

“It happened just before the campus of the Dominion University in Sepo, along the Lagos-Ibadan Expressway.

“There were 96 people

involved, with 17 confirmed dead. It is obvious that both drivers were over speeding and suddenly lost control of the vehicles. The Peugeot bus was loaded with passengers and goods but the casualty figure rose because the other vehicle was travelling to Lagos with huge amount of illegal passengers.”

Salami said all the corpses were said to have been deposited at the Adeoyo State Hospital morgue in Ibadan.

Other injured people were rushed to the University College Hospital, Ibadan, and Kejide Hospital, Ibadan.

Kidnappers release Lagos bizman after $2m ransom

By Ifeanyi Okolie

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businessman, Elias Ukachukwu, who was kidnapped last November by unknown gunmen in Festac area of Lagos State, has been released after the balance of the $2 million demanded as ransom was allegedly paid.

Meanwhile, a businessman, said to be the owner of a popular hotel in Satellite area of Lagos State, was last week abducted by unknown gunmen.

It was gathered that Ukachukwu’s kidnappers demanded an additional $1 million from his family after receiving an initial $1 million.

The kidnappers were said to have complained that the relatives of Ukachukwu were rude to them.

Lagos State Police Public Relations Officer, Superintendent Dolapo Badmos, who confirmed Ukachukwu’s release to Vanguard, said he was released last Wednesday. She

did not confirm if ransom was paid before his release.

Residents of Festac Town and environ in Amuwo Odofin Area of Lagos State are currently living in fear, following the increasing spate of kidnappings within the area.

This is not unconnected with the report that no fewer than three successful businessmen had been kidnapped by gunmen in recent times in separate locations within the council area.

Vanguard, MONDAY, FEBRUARY 8, 2016—7

Presidency unfolds N500bn social welfare extremely poor Nigerians to receive N5,000 monthly programmes 1m 500,000 graduates to be trained as volunteer teachers

By Emmanuel Aziken, Political Editor & Levinus Nwabughiogu

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BUJA — THE Presidency has unfurled tentative details on the implementation of its N500 billion social welfare programme, revealing that one million extremely poor Nigerians would be direct beneficiaries of the N5,000 monthly cash transfer.

The payment which is to commence once the budget is approved by the National Assembly, is besides another five social interventions that include the provision of one meal a day to school pupils in some selected states.

A total of N60 billion would be directly transferred to the one million extremely poor Nigerians, according to a statement issued by the Office of the Vice-President in accordance to President Muhammadu Buhari’s vision of building human capital.

Other elements of the social intervention scheme revealed, yesterday, include the 500,000 direct jobs, which will see unemployed graduates being trained and deployed as volunteer teachers in their communities while still prospecting for jobs in their chosen professions.

The details as released by Mr. Adeolu Akande, Senior Special Assistant, Media in the office of the Vice-President, also disclosed a youth employment plan which will see the training of 370,000 non-graduates youths in different skills and vocational programmes.

"The recruitment of beneficiaries into the volunteer teaching jobs and the skill acquisition training scheme for non-graduates would be done on state basis, including the FCT and opened to all Nigerians of different shades," Akande said.

Another initiative also revealed is the micro credit scheme where one million Nigerians, mostly small scale traders, artisans and market women, would get a onetime soft loan of N60,000 each through the Bank of Industry.

And finally there is the free education plan for students of Science, Technology, Engineering and Mathematics, STEM, where government will pay tuition for 100,000 students.

Explaining the administration’s determination to positively impact the capacity of Nigerians through the unprecedented intervention, Akande disclosed that at no time in the nation’s budgetary history had the Federal Government made a specific vote of such volume for social welfare.

“Even economic historians now say that not only is the half a trillion Naira vote unprecedented, but it is also the greatest service ever done to the Nigerian state and people by any federal government administration,” Akande said.

He noted that the six social safety plans would reduce high levels of poverty and vulnerabilities, while also increasing Nigeria’s

370,000 non-graduates to receive skills acquisition training School feeding programme to commence in selected states

Human Development Index on the global UN rankings.

“The President’s vision is to increase investments in human capital to guarantee security for all, employment and improved well-being of the people,” the Vice President’s media aide added.

He disclosed that the Presidency was aware that past attempts to address poverty had suffered because of insufficient

political will, presence of various UN-uncoordinated initiatives and poorly targeted beneficiaries, among other factors, and was working to avoid the pitfalls.

The Senior Special Assistant said for the Conditional Cash Transfer, CCT, where one million extremely poor Nigerians will receive N5000 monthly in 2016, the money would be paid directly to the beneficiaries through a

payment system that is being worked out.

He said the World Bank and the Bill Gates Foundation were collaborating with the Presidency to develop an efficient payment system. All together, about N60 billion had been estimated to be paid out to extremely poor Nigerians.

And the implementation of the programme starts once the budget is passed.

MEETING: From left, Minister of State for Solid Minerals, Abubakar Bwari; Minister of Solid Minerals Development, Dr Kayode Fayemi; and Ukrainian Ambassador to Nigeria, Valerii Aleksandruk, during a meeting with the minister in Abuja.

SERAP appeals World Bank’s decision to hide information on Abacha loot spending

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By Abdulwahab Abdulah

AGOS— THE SocioEconomic Rights and Accountability Project (SERAP) has sent an appeal over the decision of the World Bank to provide insufficient information on how the government of Nigeria spent the recovered stolen funds by the late General Sani Abacha.

In the appeal by SERAP to the Access to Information (AI) Appeals Board on the bank’s decision dated November 25, 2015, it requested the board to exercise its prerogative and allow disclosure of specific information and any feedback from the World Bank Evaluation Team on the several issues, including the “evidence and list of the 23 projects allegedly completed with recovered Abacha loot, and whether the projects were actually completed; and what became of the two abandoned projects.”

In a statement by SERAP Deputy Executive Director, Olukayode Majekodunmi, the body complained that the World

Bank failed to disclose sufficient information on the spending of recovered stolen funds by the government.

To this end, it urged the AIAB to prevail on the bank to provide evidence and the location of the eight health centres built with recovered Abacha loot reviewed by the World Bank as well as the evidence and location of the 18 power projects confirmed by the World Bank.

SERAP also urged the Appeal Board to direct the bank to state “how the $50 million Abacha loot received before 2005 kept in the special account was spent," and “evidence and location of schools which benefited from the Universal Basic Education (UBE) programme in the amount of N24.25 billion.”

It also prayed the Appeal Board to request for “evidence and location of the 13 road projects completed with the recovered Abacha loot, including the names of three of the largest road and bridge projects in each geo-political zone” as claimed by the bank.

SERAP noted it “considered the decision of the World Bank

a serious violation of the AI Policy, as it amounts to improper or unreasonable restriction of access to information.”

In the appeal, dated February 5, 2016, and signed

by SERAP deputy executive director, it said: “Following receipt of several documents from the World Bank totalling over 700 pages on the Abacha loot, SERAP commenced independent investigations and verification of some of the information supplied with appropriate agencies and institutions of government.

“SERAP is concerned that the World Bank failed and/or neglected to provide several portions of the information requested on the spending of recovered Abacha loot managed by the bank.”

It noted that one of the guiding principles of the Policy on Access to Information (AI Policy) was recognizing the right to an appeals process when a request for information in the World Bank’s possession was improperly or unreasonably denied.

Tariff hike: Lawyer initiates contempt proceedings against NERC's acting chair, DISCOs CEOs

By Innocent Anaba

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AGOS — SEQUEL to hike in electricity tariff, despite a subsisting order of Justice Mohammed Idris of a Federal High Court sitting in Lagos made on May 28, 2015, a lawyer and rights activist, Toluwani Adebiyi, has initiated contempt proceedings against the Acting Chairman of Nigeria Electricity Regulatory Commission, NERC, Anthony Akah, and Chief Executive Officers, CEOs, of all Distribution Companies, DISCOs, across the country.

Justice Idris had directed NERC to suspend all actions relating to any increment in electricity tariff, pending the hearing and final determination of a suit filed by the lawyer on the issue.

However, despite the subsisting court’s order, NERC, in conjunction with the DISCOs, commenced the implementation of the new tariff on February 1, 2016.

The notice of consequence of disobedience of court order has been served on the alleged contemnors and is to be heard by the court on February 11, 2016.

Adebiyi, in the substantive suit, is seeking an order restraining NERC from implementing any upward review of electricity tariff without a meaningful and significant improvement in power supply at least for 18 hours a day in most communities in Nigeria.

He also wants an order restraining NERC from foisting compulsory service charge on pre-paid meters not until “the meters are designed to read charges per second of consumption and not a flat rate of service not rendered or power not used.”

He also wants urged the court to halt the service charge on pre-paid meters until there was visible efficient and reliable power supply like those of foreign countries where the idea of service charge was borrowed.

He is also asking the court to mandate the NERC to make available to all Nigerians within a reasonable time of maximum of two years, prepaid meters as a way to stop the cut-throat indiscriminate estimated bill and which must be devoid of the arbitrary service charge, but only chargeable on power consumed.

8—Vanguard, MONDAY, FEBRUARY 8, 2016

Nigeria’s GDP to hit $2trn by 2030, if...

—Lai Mohammed

By Princewill Ekwujuru

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AGOS — THE Minister of Information, Alhaji Lai Mohammed, has said that Nigeria’s Gross Domestic Product, GDP, will increase to $2 trillion by 2030 from its present N514 billion, if the country reduced corruption to the level of Ghana and Malaysia.

The minister, who quoted PricewaterhouseCoopers, PwC, report, while addressing members of the Advertising Association of Nigeria, ADVAN, an Association of Marketing Directors of corporate organisations and a sectoral body of the Advertising Practitioners Council of Nigeria, APCON, said: “If Nigeria reduces corruption to the level in Ghana and Malaysia, Nigeria’s GDP will increase to $2 trillion from N514 billion in 2030.

“Here, we are trying to rebuild Nigeria and lay a new foundation where companies will be able to operate. If we can cut corruption, even if oil price is $10 per barrel, we will still be able to achieve targets.”

Mohammed, who briefed the association of government’s plan of what he described as father of all campaigns, a national orientation campaign tagged: ‘Change begins with me’ to be spearheaded by the President himself, said: “It is true we campaigned on the change mantra, but this change mantra is largely misunderstood by Nigerians which they (Nigerians) misinterpreted to mean that as soon as Buhari is sworn in, immediately things will change in Nigeria.

“It does not happen that way.

Nigerians cannot continue to do things the same way and expect different results.

Indiscipline and corruption are not restricted to people at the top. Each Nigerian has a role to play and that is why we are launching the campaign.”

He said everyone was guilty of the malaise that was crippling the society today, adding that "average Nigerian with opportunity will likely cheat. The malaise cuts across gender, age and professions.

“This kind of campaign we want to run will touch every Nigerian. It will start with the President who will say my name is Muhammadu Buhari and I don’t expect kick back from any of my ministers, change begins with me. It goes for professions, students etc. It will be comprehensive and in phases and that is why we need ADVAN. "The corporate Nigeria will be the first beneficiary of the campaign. For instance, if C M Y K

there is security, the investors will find the environment conducive enough to invest.

Businesses have lost a lot to insecurity in the north. If we minimize corruption, the money could be used to

develop the economy," he said.

Responding, President of ADVAN, David Okeme, promised to partner with government to deliver on its programmes.

He said ADVAN took this step because businesses needed a country to thrive, adding that it was in business interest that security was in place, corruption was reduced and other economic indices were looking up.

SYMPOSIUM: From left, Foluso Phillips, Executive Chairman, Phillips Consulting Group; Vice President Yemi Osinbajo and Pat Utomi, Founder, Centre for Values in Leadership (CVL), at the 13th CVL annual lecture leadership symposium and celebration of 12 years of CVL as part of activities to mark Prof. Pat Utomi's 60th birthday, in Lagos.

PHOTO: AKEEM SALAU

African leaders advocate locally developed Zika, Lassa virus vaccines CDC issues safe sex guidelines for men affected by Zika As lab confirms Zika virus is active in saliva, urine

By Sola Ogundipe

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FRICAN leaders, including ministers of health, finance, and other line ministries from Nigeria and at least 50 other African countries are meeting in Addis Ababa, Ethiopia, to discuss the potential of developing, manufacturing and implementing effective Zika virus and Lassa virus vaccines on the continent.

This came as the Centres for Diseases Control and Prevention, CDC, recommended that men exposed to Zika virus and who had a pregnant partner, should abstain from sexual intercourse or use a condom until the baby was born.

Also, for the first time, scientists have isolated laboratory evidence that Zika virus was present and active in the saliva and urine of persons affected by the virus.

Tagged the First Ministerial Conference on Immunization in Africa, the meeting, which holds in a fortnight, under the auspices of the World Health Organization Regional Offices for Africa (AFRO) and the Eastern Mediterranean (EMRO), in conjunction with the African Union Commission, is designed to ensure that people across the continent had

access to life-saving vaccines against vaccine preventable disorders.

Confirming the development to Vanguard in a telephone teleconference, the Programme Coordinator of WHO Afro Region, Dr Richard Mihigo,said the high point of the conference would be the celebration of the success story of the MenAfriVac meningitis vaccine, that was tailor-made for affected African countries.

His words: “It is amazing to see how most countries in the Africa region have introduced new vaccines in the last 10 years, but we still have a lot of diseases that could be prevented by vaccines and these include Lassa fever, Dengue fever and, of course, Zika fever.

“Definitely, there will be discussion in research and also for the capacity of African countries to actually try to manufacture some of these vaccines on the continent.

“As we have seen with Ebola in West Africa, this brings to the forefront the need to actually invest regionally and globally on research and development of vaccines that are actually of interest to the Africa region in particular.”

Mihigo argued that the same method utilized to create demand for development of the

meningitis A vaccine several years ago would be utilized to demand for vaccines against Zika virus and other vaccine preventable disorders threatening countries within the Africa Region.

Guidelines for men affected by Zika

In a related development, as part of measures aimed at preventing sexual transmission of the Zika virus, men exposed to the virus and who have a pregnant partner, have been urged to abstain from sex or use a condom until the baby was born.

Issuing the new guidelines, weekend, the Centres for Disease Control and Prevention, CDC, also recommended that pregnant women who had been exposed to the Zika virus should be tested for the virus.

Zika virus active in saliva, urine

Meanwhile, for the first time, a Brazilian laboratory has demonstrated that Zika virus , active in saliva and urine, posed new questions for researchers trying to understand how the virus could spread.

Constituency projects: Audit report alleges widespread fraud

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By Henry Umoru

BUJA— AN audit report, weekend, alleged widespread fraud in the handling of over N100 billion constituency projects fund by senators and members of the House of Representatives in the last three years.

The report also called for immediate scrapping of the constituency projects fund, adding that the executive should rather handle such projects.

According to the report, funds for constituency projects are not only shrouded in secrecy but also allegedly diverted by some lawmakers.

Former President Goodluck Jonathan had in a move then, transferred the implementation of constituency projects to the Ministry of Special Duties.

The allegations by the report came barely two weeks after former President Olusegun Obasanjo accused the National Assembly of still running a secret budget.

The report of the survey which was conducted in 2015 by the Media Support Centre and made available to journalists in Abuja, yesterday, also exposed large scale abuse of projects by the 469 federal lawmakers.

Executive Director of the Media Support Centre, Mr Wale Fatade, who told journalists in Abuja that the polls covered over N100 billion appropriated for the constituency projects for period of 2013 to 2015, said: “It would appear nobody but the lawmakers know which projects are being executed with these monies and how much each costs.

“Our recent survey shows that a majority of Nigerians are not aware of the presence of these projects and mostly are calling for a reform.

"They either want the whole thing cancelled outrightly or that the lawmakers bring more clarity and openness to the process by publishing what each lawmakers get and for which project so that Nigerians could track these projects.”

According to him, over 78 per cent of Nigerians voted for immediate scrapping of the constituency project to reduce corruption.

He said: “In 2015, the Media Support Centre conducted a series of polls to judge the reaction of Nigerians to the allowances that members of the national and state legislatures collect for executing ‘constituency projects'."

Vanguard, MONDAY, FEBRUARY 8, 2016— 9

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10—Vanguard, MONDAY, FEBRUARY 8, 2016

Ooni's highest ranking Yoruba Oba —Alake

By Daud Olatunji

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BEOKUTA—THE Alake and paramount ruler of Egbaland, Oba Adedotun Gbadebo, yesterday, declared that the Ooni of Ife remained the highest in the ranking of Yoruba obas.

Oba Gbadebo, who stated this while receiving the Ooni of Ife, Oba Adeyeye Ogunwusi in his Ake, Abeokuta, Ogun State palace, said the Ife monarch is the highest of the five principal Obas in Yorubaland.

The Ooni, who arrived the palace of the Alake of Egbaland around 3:35p.m. with the retinue of his officers, was received by Oba Gbadebo at the entrance of the palace in company of his wife, Dr. Tokunbo Gbadebo, and the Secretary to the State Government, Taiwo Adeoluwa.

The Ooni listed the Alaafin of Oyo and the Oba of Benin as second and third, respectively, in the order of ranking.

AMCON appoints Fagbemi new Aero MD

By Lawani Mikairu

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HE Assets Management Corporation of Nigeria, AMCON, has appointed Mr. Tunde Fagbemi as the new Managing Director of Aero Contractors. Until his appointment Fagbemi was the Chief Executive Officer, CEO, of Maevis Nigeria Limited Last Friday, AMCON took over the daily running of Aero Contractors and sacked the management of the company. AMCON is the airline’s creditor and major shareholder.

Fagbemi as the CEO of Maevis provided the first IT based passenger facilitation

system at the Murtala Muhammed Airport, Lagos, which reduced the time spent by passengers before they are checked in to their flights.

AMCON, last Friday dissolved the board of Aero Contractors Airlines. The debt management company had said the reason behind the takeover is to protect the brand heritage of the airline maintaining that its intervention is in the public interest to sustain and improve the “ robust and premium quality service of the airline.”

AMCON has also engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts over

the last 5 years.

Aero Contractors is Nigeria’s oldest aviation company, which commenced

business in 1959, initially providing services to oil and gas sector, before venturing into fix wing operations in the year 2000.

Currently, AMCON owns 60 percent of the company, with the remaining 40 held by the Ibru family.

AMCON had, in 2010, invested 15 billion Naira in Aero and later injected five billion Naira, bringing their total financial exposure to 20 billion Naira.

Mr. Tunde Fagbemi

By Godwin Oritse

Ex-Lagos Military Gov, Mobolaji Johnson loses wife

By Monsuru Olowoopejo

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IFE of former military governor of Lagos State, Brig.-General Mobolaji Johnson, Funmi is dead.

Vanguard gathered that the wife of the former military governor died on Saturday night.

Though family was yet to reveal the cause of her death, sources said she died after a brief illness in a hospital located in Victoria Island,

Lagos State.

A source close to the family said the news of her death was announced to the former military governor at about 2a.m. yesterday.

When Vanguard visited the home of the former military governor, it was gathered that the husband of the deceased would not be able to grant any interview.

Also, few hours after the news broke, it was learned that relatives and dignitaries stormed the premises to console the family.

Among the early visitors to the home of the Johnsons in Ilupeju was the first executive governor of the state, Alhaji Lateef Jakande and f o r m e r Minister of Communications,

NIMASA marshals protest

T

Mrs. Omobola Johnson and others.

Effort to speak to both former public office holders proved abortive as they declined speaking on the death of the former first lady of the state.

....I remember her time as First Lady— Cousin

Mrs. Taiwo Soyannwo, cousin to the late Funmilayo, said: “We thank God for the life she spent. And I will always remember when she was the First Lady. She was simple and humble.

“You will not know that her husband was the military governor. All through that period, she was working at the Federal Training centre.

Her role was a sharp difference of what we have today. She even used to go to the market.”

She described the late Funmi as one of the pillars of their family, adding “we will continue to miss her, but the lord knows best.”

HE newly-created search and rescue marshals by Nigerian Maritime Administration and Safety Agency, NIMASA, have protested the non-payment of their monthly allowances.

Confirming the development, Mr. Salami, one of the supervising officers in charge of the marshals, told Vanguard that the allowances were received last in November 2015.

Salami explained that services of the marshals were voluntary, adding that he does not know why the payment were stopped and referred Vanguard to the safety department of the agency.

He disclosed that the search and rescue pilot programme started in April last year, adding that they are paid monthly stipends of N12,000 for transport.

When Vanguard contacted the agency's spokesperson, Hajia Lami Tumaka, she said she will investigate and get back to the reporter.

Lagos fixes bad spot of Oshodi-Apapa expressway, launches LASPIN

By Olasunkanmi Akoni

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FTER years of total neglect, Lagos State Government, weekend, moved equipment to site to begin palliative work on the bad portion on ApapaOshodi Expressway, by Berlett Bus Stop, Ilasa area.

According to the General Manager of Lagos State Public Works Corporation, LSPWC, Mr. Ayotunde Sodeinde, the C M Y K

action followed Governor Akinwunmi Ambode’s directive to give succour to motorists, who have made several complaints over the poor state of the road, which had led to loss of lives and properties on the axis.

He said when completed, the road would afford motorists seamless movement pending proper reconstruction by the Federal Government.

Meanwhile, the state

government has introduced what it called the Lagos State Student Personal Identification Number, LASPIN, that will capture the biometrics of students in all its public primary and secondary schools.

The Deputy Governor, Dr. Idiat Adebule, said yesterday, that LASPIN would be the unique identity of each student throughout his/her schoo-ling period in the state.

12—Vanguard, MONDAY, FEBRUARY 8, 2016

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Vanguard, MONDAY, FEBRUARY 8, 2016—13

Urhobo must not be in opposition —Omo-Agege

By Festus Ahon, Perez Brisibe & Ochuko Akuopha

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GHELLI—THE senator representing Delta Central senatorial district, in the National Assembly, Senator Ovie Omo-Agege, has said that the Urhobo nation should not be in opposition but should rather key into the mainstream of Nigerian politics by working closely with President Muhammadu Buhari.

The senator who addressed a gathering, weekend, in Ughelli, Delta State, at a reception by the people of the district in his honour, said that the Urhobo nation must take its rightful place in governance, stressing that he would be a strong advocate in the business of law making and national development to bring the best bargain to the Urhobo.

Applauding the people of the district for their support for him he said: “The journey was rough and turbulent. Our mandate was stolen.

“People who stole elections

and had no conscience went into Gods house to celebrate their theft. They mocked God and had the effrontery to go into the house of God for thanksgiving, but in the end, God proved himself.

“As leaders, we didn’t encourage the spilling of blood to recover our mandate.

We knew the law and we used it with divine help to restore our victory to set Urhoboland free. Let me

promise you today, we have finally put an end to electoral impunity in Urhoboland.

Those who don’t like it, can jump into the closest river.”

Speaking on the impasse trailing the Urhobo Progress Union, UPU, he said: “For Urhobo to succeed, we must speak with one voice and if we must do that, we must have a united UPU. “We all need each other and we can't afford to have

these quarrels. It is only when we have a united UPU that UPU can lead us to the promise land.”

Describing Omo-Agege as a vibrant senator that would live up to the expectations of the Urhobo nation, the 2015 Labour Party governorship candidate, Chief Great Ogboru, while commending supporters of the party for their perseverance and sacrifice, said: “We are not going to get our freedom on a platter of gold."

FG has problem with Tompolo not Ijaw —Ateke Tom

By Davies Iheamnachor

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ORT HARCOURT— EX-NIGER Delta agitator, Chief Ateke Tom, has expressed the fear that the Federal Government was playing games to exterminate the leaders of the Niger Delta militancy, who are now beneficiaries of the amnesty programme.

He also expressed concern that the Federal Government was making moves to end the amnesty programme, which he said brought lasting peace in the

Niger Delta.

Ateke, in a statement, weekend, at his Okrika home when the Peoples Democratic Party, PDP, in the area organised a solidarity rally on the victory of Governor Nyesom Wike of Rivers State at the Supreme Court, noted that the way the Federal Government was treating ex-militants in the state was an indication that they want to end the amnesty programme.

Ateke, who is also the Leader of Niger Delta Vigilante, NDV, pleaded with the Federal

Government to halt any plan to scrap the amnesty programme, adding that it would portend danger for youths of the region.

He said he had no knowledge of the whereabouts of Chief Government Ekpemubolo (Tompolo) who has issues to settle with the Economic and Financial Crimes Commission, EFCC, noting that he (Ateke) does not have any camp to hide any suspect.

He said: “They have burnt houses of many ex-militant leaders and they are planning to raid my house too."

BYSIEC postpones LG polls in Bayelsa

By Emem Idio

Y

ENAGOA—CITING security challenges and paucity of funds, the Bayelsa State Independent Electoral Commission, BYSIEC, has said that the local government elections, earlier slated for February this year, would no longer hold as scheduled.

Although no new date has been fixed, the commission said that the security and financial realities in the state made the postponement of the council elections inevitable.

Chairman of BYSIEC, Blessing Izagara, who disclosed this in Yenagoa during a meeting with chairmen of political parties in his office, assured that the council elections will be conducted when the tempo has calmed down and called for understanding and cooperation from stakeholders.

The tenure of the elected council chairmen and councillors is due to end on April 17.

CONDOLENCE VISIT TO THE FAMILY OF GEN MOBOLAJI JOHNSON (RETD) ON THE DEATH OF HIS WIFE, LATE MRS OBAFUNMILAYO JOHNSON, IN LAGOS PHOTOS: SHOLA OYELESE

From left: Mr Deji Johnson, son; Alhaji Lateef Jakande and Hon Babatunde Odele.

From left: Ms Dupe Aganga Williams; Mrs. Remi Olubode, Mr. Taiwo Soyanwo and Mrs. Sade Odunaike.

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From left: Dr. Lanre Towry Coker; Mrs Mobola Johnson, daughter-in-law; Mr Seyi Johnson, eldest son and Engr. F. A. Oseni.

From left: Deji, Yomi and Seyi Johnson, all children of the deceased.

14 — Vanguard, MONDAY, FEBRUARY 8, 2016

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Vanguard, MONDAY, FEBRUARY 8 , 2016—15

BIAFRA: Linking us with ship hijack, plot to

detain Kanu indefinitely —IPOB E NUGU—THE Indigenous People of Biafra, IPOB, has accused the All Progressives Congress, APC, led Federal Government of plotting indefinite incarceration of its detained leader and Director of Radio Biafra, Mr. Nnamdi Kanu and other IPOB detainees with its recent linking of the group with the alleged seizure and threat to blow up a merchant ship.

IPOB Media and and Publicity Officer, Mr Emma Powerful said that President Muhammadu Buhari led government of APC has been looking for more reasons to continue the incarceration of their leader and other IPOB detainees without genuine reason, and now has resorted to making wild allegations of ship-hijacking, linking IPOB and other Biafra agitating groups.

“IPOB has uncovered another plan to continue to incarcerate our leader, Mr Nnamdi Kanu, and other detained IPOB members. The recent plot last week linked IPOB and other Biafra agitating groups to the alleged seizure and threat to blow up a merchant ship which the military has denied . This has made nonsense of the Buhari-led APC government allegation against IPOB as a lie and one coming from a

deceitful and dishonest government.

“We found that accusation an insult and a plot to continue to incarcerate our leader Mr. Kanu who is still in high spirit, inspite of the wicked treatment, intimidation, harassment and denials to damper his spirit. We wonder why the government of APC will busy it self in hatching plans to nail innocent agitators.

“This shows the inconstistency for which the APC and its government is known for or why will anybody, group or government be linking

IPOB with seizure of ship in another country? Are we living in the water, or do we carry arms?

How can a government that claims to have saints in it be likening IPOB with hijacking of ship?” he said.

“It is shameful that a government that claims to be responsible should be involved in the highest level of indiscipline of disobeying court orders. We are not surprised because this is a government of the people that threatened to make Nigeria ungovernable when they lost election, and also

threatened that baboons and their brothers will soak in blood if they did not win election. So, how can they respect the law now that they are in power? They have become so power-drunk and it will destroy them and their government.

“IPOB does not carry arms. Our leader is a refined, never say die, relentless, determined, focused, and unrepentant Biafra activist that is not interested in any government threat or inducement to drop the agitation of sovereign state of Biafra and no amount of blackmail will discourage him."

VISIT: Sultan of Sokoto, Sa'ad Abubakar III (6th right), OYC President, Okechukwu Isiguzoro (5th left), and other members of Ohaneze Youth Council, during a visit to the Sultan in Sokoto.

SACK OF 3,000 WORKERS: Imo govt begs labour

to shelve strike

By Chidi Nkwopara

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WERRI—IMO State Government has appealed to the state and national leadership of Nigeria Labour Congress, NLC, to consider the long standing cordial relationship existing between them and drop their planned shutdown of the state.

Labour had threatened to shutdown the state if Governor Rochas Okorocha failed to recall the over 3,000 workers of the 19 parastatals, agencies and departments, which he summarily sacked recently.

According to a press statement signed on behalf of the Governor by his Chief Press Secretary, CPS, Mr. Sam Onwuemeodo, government appealed to labour not to embark on any strike that would not benefit anyone.

“The national leadership of the NLC should be patriotic enough to advise the leadership of the NLC in the state to honour their invitations to participate in the high-powered 18 - member committee set up by the state governor to review the cases of the staff affected by the suspension in question, so that the matter can be resolved

amicably in the spirit of no victor, no vanquished”, Okorocha pleaded.

While recalling that the inauguration of the committee could not take place last Tuesday, because the Labour Representatives did not come for the exercise, Okorocha equally recalled that the

Committee has the state NLC Chairman, the Trade Union Congress, TUC Chairman, the State Chairman of Nigeria Medical Association, NMA, and the Chairman of National Union of Local Government Employees, NULGE, as members.

Others chosen from labour unions are the Representative of Magistrates Association of

Nigeria, Representative of Academic Staff Union of Universities, ASUU, Imo State University, IMSU, Imo Polytechnic, Chairman of the Christian Association of Nigeria, CAN, Chairman of Imo State branch of Nigeria Bar Association, NBA, and representative of the Judiciary Service Union of Nigeria, JUSUN.

Ex-commissioner drags Chime to ICPC over accommodation to me in the alleged sale of govt quarters interest of justice, fairness and

E

By Francis Igata

NUGU—FORMER Commissioner for Transport in Enugu State, Mr. Luke Mmamel has dragged his boss and former Enugu State governor, Mr. Sullivan Chime to the Independent Corrupt Practices and Other Related Offenses Commission,ICPC, for,allegedly “distributing/ monetizing government quarters to his siblings, nephews and for graft”.

The Commissioner who claims his property was given out to a former GOC 82 Army Division Enugu by the former governor is also accusing the army chief of abuse of office for receiving a gift of his official

quarters “knowing fully well that the allocation is with me.”

He has further written the Chairman Nigerian Army Council through the Ministry of Defence, “to advise Maj. Gen. Shehu Yusuf to hand over my

proper conduct.”

In his petition to the ICPC dated June 1, 2015, Engr. Mmamel alleged that Chime “abused his office by offering a gratification of monetization/sale of No 3 Mount Street GRA Enugu to the GOC contrary to the provision of the Act.

Gov Emmanuel set to thank God for Service, said the Inter-denominational S-Court victory Thanksgiving Service is put together to

U

YO—AKWA Ibom State Governor, Mr. Udom Emmanuel, has set aside, Wednesday February 10, 2016toappreciateGodfortheaffirmation of his election by the Supreme Court of Nigeria.

A media release by the State Commissioner for Information and Communications, Mr. Aniekan Umanah, who is also the Chairman of the Publicity Sub-committee for the

celebrate the faithfulness of God in sustaining the Divine Mandate.

Mr. Umanah, who disclosed that the Presiding Bishop of the Living Faith Church, aka Winners’ Chapel, Dr. David Oyedepo will be the guest minister, said the event, will be live on national televisionnetworks,beginningfrom10:00 a.m,attheGodswillAkpabioInternational Stadium in Uyo.

We'll continue to put Nigeria first —Saraki

A

By Peter Okutu

BAKALIKI— PRESIDENT of the Senate, Dr. Bukola Saraki, weekend expressed the determination of the Senate to put the interest of the nation first while discharging its statutory responsibility.

According to him, the interest of Nigeria superseded every other interest and should be paramount no matter whose ox in gored.

Saraki spoke at Christ the King Catholic Church, NteziNkalagu, Ishielu local government area of Ebonyi state during a thanksgiving service organized by the Chairman, Senate Committee on Sports, Senator Obinna Ogba to thank God for his electoral victory.

He called on all Nigerians to join hand in building the nation irrespective of political, religious or ethnic affiliation.

Saraki who was accompanied by Senators and prominent politicians used the occasion and promised that the senate would assist the state to recover the N26billion it spent on federal projects in the state.

Abia community raises alarm over imminent crisis

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By Anayo Okoli

MUAHIA—CRISIS is brewing in Lokpaukwu community, Umunneochi Council Area of Abia State and leaders of the community have expressed fear of imminent breakdown of law and order.

They raised the fear following a disagreement among the people over leasing their Stone and Granite mining field which is their main economic base.

The leaders of the community have therefore, appealed to the InspectorGeneral of Police, Mr. Solomon Arase to deploy police men to the area to avert crisis and ensure peace, law and order.

Theboneofcontention,according to sources from the community, was the choice of company to be given the lease to quarry stone and granite inthecommunity.Twofirms,Asphalt Unity Construction Limited, a Lebanese firm and Pioneer Sinochino Investment Venture, a Chinesefirmhaveindicatedinterest fortheleaseoftheminingsiteowned by 35 families of Amaubiri/Umutu villages.

16 — Vanguard, MONDAY, FEBRUARY 8, 2016 An emerging controversy over Nigeria’s deficit funding is gradually taking the centre stage as more concerns over 2016 fiscal year come up.

Last week, Fitch Ratings, one of the world’s leading economy rating agenccies indicated that the emerging fiscal and monetary policy responses to the oil price crash may lead to a further downgrade of its Nigeria rating, thereby increasing country risks for all forms of capital inflows including borrowings.

Fitch also noted that our inadequate response which failed to carry out growth-enhancing reforms and put debt levels on an unsustainable path would have a negative effect on the rating.

Our concern here is not really on the Fitch’s rating as much as the confusion and doubt as to whether the 2016 budget would be implementable.

First was the disappearance of the

De-risking budgetary borrowings budget for days after which it resurfaced with an apology from the Presidency that there were errors that had to be corrected.

Alongside the negative fallouts of this incidence and the entire budget itself, we had expected that a corrected version would have addressed the issue of oil price benchmark, put at USD38 per barrel at a time the price had crashed far below the benchmark.

Prudence demands that the benchmark should be lower than the ruling oil price and very significantly too given the speed of oil price drop.

The next controversy was on deficit funding which has generally been focused on borrowings, both external and internal.

But even at that, the government is enmeshed in a controversy over whether or not it has approached the World Bank and African Development Bank for loans.

The Finance Ministry is denying media reports that it has done so but none of the financial institutions has come out to deny that they have been so approached. The Ministry was contented with the excuse that it was still at the stage of seeking legislative approvals for

the borrowings which is a matter of constitutionalism and due process.

Again we are not particularly concerned with the procedure. We are bothered with the terms of borrowing. That is where we could have a problem, as the Fitch rating appears to suggest.

Fitch has warned that key provisions of the 2016 budget, particularly deficit spending and monetary policy positions on foreign exchange management, could present downside risks to Nigeria’s sovereign credit profile. Although there are mitigating factors, increased borrowing and higher interest payments would add more pressure to the fiscal burdens of Nigeria.

Without prejudice to whatever measures being put in place for the needed borrowings, government should focus effort at tidying up the loose ends of its fiscal and monetary policies. This will go a long way in optimising the loan conditions to our benefit.

OPINION Paul Kalu Mgbesi

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RESIDENT Muhammadu Buhari is out in London, and the old soldier in him has not deserted him. He has literally turned a foreign visit into a theatre of war and alarums of wars.

With pepper-hot words and gestures to match, he is railing against ‘’the murder of the naira”, as he was quoted by the BBC radio. The naira is one of the symbols of our state.

However, as the president is abroad fortifying the naira, even if verbally, his APC party men and other hirelings at home, are riotously decimating the Nigerian estate and state, especially its most innocent arm, the Supreme Court. They act in the forged and arrogant conscience that they are sacrificing the nation to the false god of party supremacy. If however, the Nigerian state is finally sacrificed as they plot, it is certain President Buhari’s pet worry, the naira, will be fit for a funeral bonfire. That is the naira would have been as worthless as sawdust, thanks to APC and agents.

Now the latest verbal-firebomb siege against the Nigerian state is orchestrated and commanded by the APC Chairman, Chief John Oyegun. To support him is a phalanx of stormtroopers apparently captained by Professor Itse Sagay, and other characters. And some of these characters fit the Okonjo-Iweala description, of morally [and we did add, intellectually] challenged charlatans. So let us not darken the pages of newspapers with their names.

And it is all in the matter of the rulings of the Supreme Court in the matter of Akwa Ibom, Abia, Rivers, gubernatorial contests etc. For Oyegun, what pains, is not that the APC lost the states and peoples of the South-South and Abia.

The real matter he confesses is that they have

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Must the state be murdered to save the party? lost the riches and resources of these states to the PDP. That is for Oyegun and understandably APC, whose mouthpiece he is, the South-South has meaning, not as a people, not as other states, but as a provincial revenue basin and backwater, for metropolitan players and taskmasters. In his mournful words: ‘’we have lost very important resource-rich states to the PDP. No matter how crude oil prices have fallen….” February 4, 20160, This Day. This is Oyegun’s ‘’Political Bull of Demarcation”, for which like Germany, Oyegun and APC mourn they have been cheated off their dues. So for Oyegun and his APC peoples, politics is in funds-flow spreadsheets, derivable off the provinces, to service the capital, and not of peoples’ welfare.

Now, it is this attitude that we have lost our living space, lebensraum, and attendant resources that drives the reaction of APC, just like it did for old Germany. And Germany concomitantly plunged the world into unprecedented bloodletting, of World War 1 and 11. So the price of our freedom must be in eternal vigilance.

It is in this light of lebensraum, of lost territories, that the studied siege on and against the innocence of the judiciary and especially the Supreme Court, has to be articulated and understood.

So when Oyegun claims ‘’he is shocked”, This Day, February 4,2016, over a Supreme Court judgement, we have to understand that, as the moral equivalent of the secret preparation of the invasion of Czechoslovakia by the Fuhrer.

That is the show and dramatisation of shock is a sleight of hand, an old hat to psychologically bewitch and prepare the populace for their next

surprise hits. And that is that the South-South and Abia states must be recovered and held as indentured, sharecropper states, by might and by power, even if democracy has to go to hell.

Now let us recall that one former Babadictator, and presently an envoy at large for the APC and government, timeously fired a blunderbuss against the legislature. As it is, even the blind may now begin to see the pattern. The Nazi-style blitzkrieg is all part of the scheme to set in a crisis of legitimacy and innocence against the judiciary and the legislature. And next, decimate or at least neuter them. Logically, it then follows that only the executive is well and alive, and therefore will be conceded all powers or self-grab same.

That is to say a dictatorship would have emerged by default. You wake up and rather than have a democracy with its famous and freely thriving three arms, you have only a Fuhrer or Sheriff in total or medieval-style control, thanks to APC. But the most troubling aspect of this is in the role by our academics, as represented by the professor of law, Mr. Itse Sagay. Sagay, despite his feints has not succeeded in hiding the sore of his partisanship in these matter. In a January 23, 2016 interview in New Telegraph, he almost openly handed the Supreme Court judges his pro-forma judgment on the matter. Of course, records reveal that Sagay is heading a government agency, with all the rights and accoutrements thrown in.

However to profess, to be a professor, is to investigate thoughtfully and thoroughly, and then to come to a conclusion. So, to profess you need patience to plod through all

substantive and significant materials, the so called ‘literature review’, on the issue. That is you can’t profess before a literature review or on executive summaries as it were, or as in this case mere rulings. And to preempt oneself with executive-summary-led opinion is to show the inability to suspend disbelief, till one has the full remit in his purview. To profess and be worthy of Harvard quality professorship even if you are Nigerian, you need to sit down, stay out of klieg lights, and study the gamut of issues in contention. And in this issue it must include the full judgement. Anything less is to betray scholarship which is the worst sin known to man as a sentient being.

So when Sagay declaims: “[the ruling] is very strange. We will wait for them to give their reasons and see how that magic occurred…. It is very unprecedented.”

The question is how can something whose outlines are yet to form, be strange? Or does it mean that we have all come to the end of knowledge? Or that nothing new, nothing Mr. Sagay does not know can be known? Was scholarship ever limited to one man, whoever that man is, not to speak of one who is a government commissioner?

For those who wish to profane the innocence of the Supreme Court and the judiciary with their leprous words, alleging compromise, then theirs is a most despicable ignorance on earth.

The judgment was a unanimous, non-split judgement.

Mgbesi wrote in form Lagos.

FEBRUARY 8, 2016

Telecommunications spur growth in GDP 148.4m GSM subscribers 97m internet subscription MTN remains largest service provider 2m CDMA subscribers 66,319 wireless subscribers

By OMOH GABRIEL, Business Editor

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he National Bureau of Statistics (NBS) weekend said that the telecommunications sector contributed N 1,385.85 billion to Gross Domestic Product (GDP) in the third quarter of 2015, adding that the subscriber base of service providers

rose by 16.15 million. The NBS report stated that “In September 2015, at the end of the third quarter, there were a total of 148,427,423 GSM subscribers divided across the four networks of Airtel, Etisalat, Globacom and MTN. This figure is slightly 0.19 per cent lower than in August when there were 148,703,160 subscribers, the first monthly decline since July 2014.

“MTN remains the largest provider

of GSM subscriptions, accounting for 42.10 per cent, despite a downwards trend in its share over the past year, from 44.24 per cent in September 2014.

“The growth in the sector was 7.71 per cent, a slight increase relative to the 7.57 per cent contribution recorded in the third quarter of the previous year. The growth in the telecom sector is much higher than the over all growth in the economy. The annual growth rates recorded in the second and third quarters of 2015 were 4.66 per cent and 4.69 per cent respectively, lower than the 6.15 per cent and 6.25 per cent recorded in the same quarters of 2014.

The share of telecommunications in real GDP tends to fluctuate over the course of the year, due to different seasonal patterns, but nevertheless, annual

AWARD: Managing Director, Chams Mobile, Mr. Brian Larsen; Head, Cards, Skye Bank Plc, Mrs. Ruth Aladeselu; Head, E-Channels, Skye Bank Plc, Mr. Akinwale Ojo; and the Managing Director, Novatia Limited, Mr. Chinedu Okoli, during the presentation of the award of ‘Best Mobile Money/Card combination in Nigeria’ jointly won by Chams Mobile and Skye Bank Plc at the Kalahari Awards 2016 in Lagos... on Friday. PHOTO: Kehinde Gbadamosi.

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averages declined every year between 2010 and 2014. 2015 looks set to buck this trend, as telecommunications recorded stronger growth than the whole economy for each of the first three quarters”.

Subscribers as of September 2015 According to figures released by NBS, the total number of subscribers has increased rapidly over the previous decade, and over the past year.

Between September 2014 and September 2015, the number had increased by 16.15 million, or 12.01 per cent; higher than the annual growth rate between 2014 and 2013, but lower than in prior years, possibly as the market is already highly developed, which leaves less room for large expansion.

The report said that “Most of the increase in the number of subscribers was attributable to additional Global System for Mobile Communications (GSM) subscriptions. The yearly increase between September 2015 and September 2014 was 12.52 per cent, slightly higher than the growth in the overall number of subscriptions, but considerably higher than for other technology types.

The report further said that “Mobile subscribers using GSM dominate, with 98.52 per cent of the total, followed by CDMA with 1.36 per cent of the total, whist fixed wired and wireless make up 0.08 per cent and 0.04 per cent respectively. The dominance of GSM users has increased since September 2014, when 98.07 per cent of subscribers used this technology type; the share of all other technology types has decreased over this period.

“The dominance of GSM over CDMA in the mobile technology is characteristic worldwide; GSM account for 82 per cent of the global market according to some estimates. With GSM technology, it is cited as being easier to switch networks, and it is regarded as being more accessible for international use, especially given that some markets such as in Europe have mandated the technology by law.

However, CDMA is more prevalent in the United States”.

Mobile Subscribers (GSM) The NBS report stated that, “In September 2015, at the end of the third

Continues on page 18

18 — Vanguard, MONDAY, FEBRUARY 8, 2016

Cover

Breaking the Nigerian poverty cycle through entrepreneurial revolution --Part 1

th igeria is a country of absurd economic realities. The 13 largest crude oil producer in the world and the second largest economy in Africa earn an estimated $2.2 million a day in oil revenue.

Yet, its GDP per capita, at just over $1,400, is among the lowest for the continent and 54% of its 148 million people live on less than $1 per day. The figures are especially shocking because of the abundance of natural resources primarily oil and natural gas, and massive agricultural potential based on its climate and significant rural population.

Human development data for Nigeria has remained persistently bleak despite a considerable upturn in the country’s economic fortunes th since 2000. The UNDP ranked the country 80 in a poverty survey of 108 developing nations that focussed on severe deprivation1. The agency gave Nigeria a Human Poverty Index of 37.3, placing it below more impoverished African neighbours with far smaller economies like Rwanda and Malawi. Significantly, the study looked not just at income destitution, but also at secondary aspects including education, access to health care, standard of living and life-expectancy. More than 67 million Nigerians are docketed as poor according to standard definitions, while 35% of the total population live in extreme poverty.

These recent trends are especially worrying because they parallel a significant but contradictory improvement in Nigeria’s macroeconomic performance. Before the current global financial crisis set in, Abuja had been successful in wielding substantial positive change in its overall balance sheets through a process of re-prioritisation and economic reform since 1999. A slew of measures, including privatisation of several steel, petrochemical, mining and port entities helped develop the non-oil sector, bring down inflation and boost international currency reserves. Nigeria also successfully negotiated with the London and Paris clubs to do away with a large part of its foreign debt.

However, World Bank research confirms that even during periods of relative prosperity, poverty levels remained unabated in the broadest sense, and actually worsened during successive positive growth periods.

Between 1972 and 1980, for instance, the Nigerian per capita income shot up from $1,300 to $2,900 based on rapidly escalating oil prices. A subsequent decline in global oil revenues dragged down per capita income, consumption and expenditure to critical levels.

However, Nigeria neglected investment in human development projects and continued to pump borrowed finances into capitalintensive enterprises. The fallout was that the dramatic rise in national fortunes bypassed the majority of Nigerians, as evident from the negligible rise in per capita consumption figures for the same period.

The differential effect on poverty levels in rural and urban areas for the coinciding period is equally startling. Because of a simultaneous worsening of income distribution, rural poverty declined slightly while the number of urban poor gained. However, the worst-off were also the worst losers, as the population living in extreme poverty across Nigeria swelled up from 10 million to 14 million. The obvious explanation behind this is that policy makers sorely failed to share the increase in wealth equitably.

Till 1985, a variety of local factors (political turmoil and social unrest) and foreign influences (falling oil prices and mismanagement of state assets) was responsible for increasing poverty and a widening disparity between rural and urban incomes. Even by 1995, per capita income and consumption remained lower than at the beginning of the oil boom in the ‘70s. th It was only towards the end of the 20 century that Nigeria began to press forward a concerted though gradual effort at reform and regulation, made possible by relative political stability and the establishment of a democratically elected government. The advent of more inclusive policies truly began with the adoption of a proactive manifesto that sought to wean away Nigeria’s exclusive dependence on non-renewable resources and promote micro and macro level entrepreneurship as the only viable means to durable economic prosperity.

This change of stance pertinently describes the entrepreneurial spirit in general: the insistence on unique and creatively challenging business models for rapidly sustainable wealth creation.

Entrepreneurship is the core ideal of all developed nations that have successfully capitalized on their human and natural resources to drive economic progress. Since the Thatcher-Regan era of the 1980s, most developed and developing nations the world over have wholeheartedly embraced entrepreneurship as the key to economic and market superiority.

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DRAWS: Mr. Patrick Anonyei, Mr. Oladiti Ogundipe, Obioma Emenike and Mr. Wumi Adeniyi, all of Heritage Bank Limited at the selection ceremony of 10 people that called the phone number the Heritage Man gave out during the bank’s Have a Nice Day campaign in Lagos.

Telecommunications spur growth in GDP Continues from page 17 quarter, there were a total of 148,427,423 GSM subscribers, divided across the four networks of Airtel, Etisalat, Globacom and MTN. This figure is slightly 0.19 per cent lower than in August when there were 148,703,160 subscribers, the first monthly decline since July 2014. MTN remains the largest provider of GSM subscriptions, accounting for 42.10 per cent, despite a downwards trend in its share over the past year, from 44.24 per cent in September 2014. The second largest provider was Globacom, which accounted for 21.09 per cent of subscriptions, similar to Airtel’s share of 20.98 per cent. Etisalat accounts for the smallest number of subscriptions, at 15.83 per cent of the total, although its share has increased slightly since its share in September 2014 of 15.07 per cent. In spite of these trends, the share of GSM subscribers accounted for by each network has changed only slightly over the year to September 2015 According to the report, “Overall growth in GSM subscriptions have grown at a monthly rate of 0.99 per cent since September 2014, although August and September 2015 saw the lowest growth rates, of 0.14 and -0.19 respectively. In these months, MTN also recorded its two lowest monthly growth rates since June 2014, declining by 1.17 per cent in August and 1.40 per cent in September. These represent the largest declines for any provider since August 2014, and as MTN is still the largest provider, this had a large effect on the overall growth rate of subscribers.

“By contrast, Airtel recorded the highest growth rates in August and September, at 1.64 C M Y K

per cent and 1.85 per cent respectively. These growth rates are reflective of the overall trends since September 2014.

MTN subscriptions grew the least over this period, by 7.08 per cent, equivalent to a monthly growth rate of 0.57 per cent. Airtel subscriptions grew the most, by 19.50 per cent, equivalent to a monthly growth rate of 1.50 per cent, although this was similar to Etisalat, whose subscriptions grew by 18.16 per cent.

Mobile Subscribers (CDMA) It said that, “In September 2015, there were 2,042,015 CDMA subscribers, 2,031,802 99.50 per cent of which were provided by Visafone. The remaining 10,213 were provided by Multilinks. Over the past year, Visafone has increased its dominance of this subscription type, as the number subscribing to Multilinks has declined in all but two months. In September 2014, there were 21,405 Multilinks subscribers, more than double the present number. Visafone has also seen a decrease in the number of subscribers in the past year;

MTN remains the largest provider of GSM subscriptions, accounting for 42.10 per cent, despite a downwards trend in its share over the past year, from 44.24 per cent in September 2014

however, the growth in the number of subscribers has been more volatile over this period.

On average, Visafone has seen a monthly decline of 0.45 per cent in the number of subscriptions, which has been the main driver of the average monthly decline of 0.5 per cent in the total number of CDMA subscribers. This equates to 15.14 per cent decline during the previous year.

Fixed Wireless Line “Visafone also dominates the fixed wireless line market, albeit to a slightly lesser extent.

Of the 66,319 wireless subscribers, 63,395, or 95.59 per cent are accounted for by Visafone. This percentage has increased over the past year; in the previous September, Visafone accounted for only 89.57 per cent. As with CDMA subscribers, this can partly be attributed to a steady monthly decline in the number of Multilinks subscribers, from 6,855 in September 2014 to 2,923 in September 2015, a fall of 57.36 per cent. June was the only month in which Multilink fixed wireless line subscribers increased in number. By contrast, the number of Visafone subscribers increased from 58,891 in the previous September to 63,395 in September 2015, and increase of 7.65 per cent. Most of this increase happened between June and September 2015, in which period subscriber numbers increased by 14.13 per cent.”

Fixed Wired Line “There was a total of 125,254 subscriptions to fixed wired line services in September 2015, of which 80.62 per cent were accounted for by 21st Century.

Glo and MTN were the next Continues on page 19

Vanguard, MONDAY, FEBRUARY 8, 2016 — 19

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igeria is often ridiculed as a giant in the sun. It is said to have abundant resources that are yet to be tapped. For close to three decades, the country has been talking about diversification of its economy. Each time there is an external shock, the noise about diversification gets louder but as soon as things get better, every one goes back to the old ways of doing things. As a result, no headway has been made in the bid to diversify the nation’s economic base.

Leaders and policymakers thrive on rent-seeking activities, and do not engage in hard thinking.

In the current crude oil price collapse, Nigeria is facing dwindling oil revenue, shortage of foreign exchange, and manufacturers, traders and others have said that access to foreign exchange has become a problem because with its industrial policy of the to ‘creative work undertaken the nation is not earning early 1970s to late 1980s. Then on a systematic basis in order enough. Yet, there are Nigeria had the Volkswagen to increase the stock of including abundant natural resources Plant, Peugeot Automobile, knowledge, the country can tap into and and Leyland etc. It had the knowledge of man, culture develop that could earn the Oshogbo Machine Tools and and society, and the use of this country huge foreign various steel plants across the stock of knowledge to devise applications’. exchange that could end years country. Due to lack of new of economic stagnation. foresight and needed research Furthermore, Investopedia Apparently, one of the key and development, these defines ‘ research and factors missing in the laudable economic projects development’ as ‘investigative Nigerian economic equation were grounded. Volkswagen activities that a business that no one is paying attention was killed because the chooses to conduct with the to is the lack of will to invest Japanese came to Nigeria, did intention of making a in research and innovation. their research and introduced discovery that can either lead Government officials and what was known then as Panel to the development of new companies operating in the Van. It was the same model products or procedures, or to country want to do things the with Volkswagen beetle, with improvement of existing old way. To Nigerians, it one door but had air products or procedures. should be business as usual. conditioner. It had a radiator Research and development is None is ready to make a that added to its cooling one of the means by which change or improve the process system. Because of the hot businesses can experience of doing things. Globally, nature of the Nigerian future growth by developing research and development are environment during the dry new products or processes to at the centre of economic season, many Nigerians went improve and expand their progress and change. for the Japanese Panel Vans. operations’.

Companies invest in research So, Volkswagen made a feeble to improve their products in attempt to counter panel van’s order to retain their position incursion into its market in in the market place. This is Nigeria by sentiment of ‘There why you keep having new is no killing the Beetle.’ Of model of products. But this is course, the beetle was killed not the case with companies due to lack of market research. operating in Nigeria. They So the Japanese companies continue producing the same came into the country having thing year in year out. There done their research, are no innovations and the introduced cheaper cars than products they churn out cannot Peugeot and others and took in any way compete with those over the Nigerian auto market. produced outside the country.

The phrase ‘ research and Nigeria is fond of half hazard development’ also R and D or, policy implementation. The more often, R&D, according to nation would have been saved the Organisation for Economic several billions in foreign Co-operation and exchange if it had continued Development (OECD), refers

Nigeria’s economic woes rooted in lack of research

The nation would have been saved several billions in foreign exchange if it had continued with its industrial policy of the early 1970s to late 1980s

It is unfortunate that Nigerian companies any time there is financial crisis, hide under the guise of raw material importation to ask for concession. Why in the world will a company exist for 10 to 20 years and not be able to source its materials locally?

Take the brewing industry for instance. Why will they continue to depend on official source of foreign exchange when they could develop local source of raw materials by using sorghum, millet and other associated products?

Why will the bread baking sector continue to import wheat and flour when they could research and refine the use of cassava flour for made in Nigeria bread? If Nigerians can eat Eba, pounded yam, why not bread made of cassava flour? Why should Nigeria be importing rice when offada and Abakaliki rice can serve the same purpose if refined and de-stoned?

The greatest challenge to Nigeria’s industrialisation is that there is no close collaboration between Nigerian industries, research institutions and the universities. The questions this government should find answers to are these: What is the level of collaboration between private sector, industries and Nigerian universities? To what extent are Nigerian companies making use of research

findings? Why are they not investing in research and development? How much funding is government at various levels committing to research and to what use are the findings being put?

It is widely known that major objectives of educational institutions are training, research and consultancy.

During the process of developing new innovations and technologies, universities are likely to bring valuable resources into the process.

Research institutions including universities, have vast areas in which they can make invaluable contributions to the process of diversifying the Nigerian economy.

Research institutions can conduct basic and action research findings; access to funding; access to the latest and most up-to-date knowledge base; access to physical assets such as technology, specialised equipment and more.

Research institutions that spin off research to companies to create viable products, in other ways, this linkage can improve quality of human resources from the universities to be employed by industries.

When industries and corporate organisations see that research institutions can boost their productivity, they are likely to set aside more money for commissioning universities to conduct researches, hence more funding for universities.

This is the way to go. As a change government, the Federal Government should adopt this approach to bail out the country from its current financial distress.

Cover Continued from page 18 largest providers, accounting for 9.31 per cent and 7.77 per cent respectively, whereas Ipn was the smallest, accounting for 2.30 per cent. These proportions have remained relatively stable over the preceding year.

However, MTN has seen a slight but steady decline in its market share, from 8.92 per cent in September 2014. Over the past year the growth in the number of fixed wired line subscriptions with MTN was 1.00 per cent on average, the only average growth rate to be negative. The average growth rate in subscriptions to the other providers was slightly positive, with Glo, Ipn and 21st Century recording average growth rates C M Y K

Telecommunications spur growth in GDP of 0.19 per cent 0.59 per cent and 0.12 per cent respectively.

The net effect was that the total average monthly growth over the period was close to zero, at 0.02 per cent.

GSM internet subscriptions “Of all GSM users, a total of 97,060,548 had an internet subscription with one of the four carriers of Airtel, Etisalat, Globacom and MTN in September of 2015. This means that of all of the active GSM lines, 65.39 per cent had an internet subscription, which continues the upward trend seen over the last few years.

However, internet subscriptions

are more common with some providers than others. 69.96 per cent of Globacom subscribers also have an internet subscription, compared with 56.95 per cent of Airtel subscribers. The ratio is 66.40 per cent and 66.96 per cent for Etisalat and MTN respectively.

“The provision of internet subscriptions mirrors that of total GSM subscriptions. The largest provider is MTN, but as with mobile subscriptions, this figure has been falling consistently.

Over the last 12 months, MTN’s share of the market fell from 52.30 per cent, to 43.10 per cent in September 2015. By contrast, Etisalat increased its share of the

market from 7.85 per cent to 16.07 per cent over the same period, accounting for most of the difference in MTN’s market share. Most of this increase happened within January, when the internet subscriptions with Etisalat increased by 62.69 per cent, and June, when they increased by 47.96 per cent. The share of internet subscriptions accounted for by Globacom and Airtel were relatively stable in September 2015.

“Over the last 12 months, internet subscriptions increased by 31.39 per cent, equivalent to growing at 2.30 per cent per month. Roughly, a third of this increase (13.26 percentage

points) was accounted for by Etisalat. MTN witnessed the slowest growth over the period, with an increase in internet subscriptions equivalent to growth of 0.66 per cent per month. In line with the stable proportion of overall subscriptions accounted for, Airtel and Globacom grew at a similar rate to the total number, at rates equivalent to 2.24 per cent and 2.73 per cent per month on average respectively.”

“In September, 20,349 subscribers joined a different provider, which represents only 0.01 per cent of all GSM subscribers. Etisalat continued to be the biggest beneficiary, and accounted for 12,898 or

Continues on page 32

20 — Vanguard, MONDAY, FEBRUARY 8, 2016

Interview

SMEs central to government's diversification bid — REGHA M

r. Davidson Regha is General Manager and Divisional Head, Retail & SME Banking, Heritage Bank Limited. He is responsible for providing the strategic thrust of the Retail and SME Division with reporting responsibilities to the Group Managing Director/CEO. He was seconded to Enterprise Bank Limited in November 2014 after its acquisition by Heritage Banking Company Limited as Acting Executive Director to oversee the business of Lagos and Corporate Banking Divisions.

By OMOH GABRIEL Heritage Bank has expressed a strong commitment to Small and Medium Scale Enterprises (SMEs), what is the rationale for this?

Our corporate strategy and the vision of the bank states that we want to build and transfer wealth across generations. The SMEs are part of that strategy. If you focus on the SMEs, it means you have to meet with entrepreneurs at the incubation stage of their business. And if you are to help them grow and become very big and successful, that means you will be able to transfer wealth from one generation to the other.

What do you do differently as a bank to make the SMEs successful?

What we do is to help them put a structure in place. To this end, we provide advisory service and equally mentor them. For us at Heritage Bank, we have discovered that the greatest challenge the SMEs are facing in Nigeria is not just lack of proper funding or capital; it is lack of structures. We try to de-risk them and put structures in place for them. If there is no structure, you will see a man who has done business for ten years and if he is not there anymore, the business dies.

As a matter of fact, we de-risk these businesses by taking away the human wastes that exist in their environment, which ensures that the business runs with or without the owner.

A lot of SMEs are in the informal sector without proper business structures; how do you manage them?

According to the National Bureau of Statistics (NBS), the SMEs contribute about 48 per C M Y K

cent to our national Gross Domestic Products (GDP). What that means is that they contribute about 48 per cent of the total labour force in the country. Therefore, they are a critical sector of the economy and I believe that every institution, from banks to government should focus on this sector because it is the engine of our economic growth.

But in Nigeria, banks are reluctant to lend to SMEs, why then are you focusing on them?

It may not be totally right to say that banks do not lend to SMEs, because as far as we are concerned, the business of banks is to manage risks. But if you say dealing with the SME sector is very risky, which is why a lot of institutions are very apprehensive, I would agree with you, but like I said, banks are set up to manage the SMEs to reduce their risks and make them good and successful ventures.

How many SMEs has Heritage Bank assisted and in what ways?

We have what we call SME Clinic, which is like a laboratory. What we do here is that from time to time, we invite the SMEs to the clinic and put them through basic business training and strategies like book keeping, account keeping and how

•Mr. Davidson Regha

The role of SMEs is very critical for economic to growth.

Many of the developed economies we see today have SMEs as the support base of their big corporations, whether in America, Europe, Latin America or Asia. That is the way to go as a country

to put structures in place to separate the business and create functional units and establish proper division of labour that will help the business. We have even moved this further to other segments of the economy. The NYSC graduate Scheme for example, is another platform we are using to create gainful employment. Why should a graduate finish his/her NYSC programme and wait for the government to give him/her employment? Government has no business creating employment. The private sector should actually create jobs for the unemployed. So, what we are saying as a bank is that, develop entrepreneurial skills within people and provide support for them. That way, youth unemployment in Nigeria will be dealt with. And we have many successful stories. There is a gentleman that we supported to set up his clothing business. When he came to us, he asked for a loan of ten million naira. Today, the guy does a turnover of over fifty million naira a month. In Abuja and Port Harcourt, we have provided the same services to SMEs. And to take this further, the bank has identified with various entrepreneurial schemes. One of them is the Next Titans programme.

What is this about?

It is a reality television programme the bank has partnered in the last

three years. It is a reality show that discovers young entrepreneurs at very early stage. It is a partnership that make it possible for the bank to provide support for the overall winner of the programme set up not just in terms of finance, but structures in terms of business plans and others areas to nurture the business to success.

What are the problems you have identified among the SMEs you have worked with so far?

One major problem with young entrepreneurs is that sometimes they come up with a business idea, but as a bank, we say coming up with a business idea might not be the right solution to it. Whatever business idea you are pushing must be end to end. You want to produce or manufacture something; there must be a ready market for it. This is lacking in many business plans of many SMEs. So, at our clinic, we harness all these together and help them look for market where they can actually sell their products to create value for themselves and society.

Vanguard, MONDAY, FEBRUARY 8, 2016 — 21

C M Y K

22 — Vanguard, MONDAY, FEBRUARY 8, 2016

Banking & Finance

Fidelity Bank rewards customers in ‘Save For Shelter’ promo

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idelity Bank has rewarded customers that emerged winners in the 4th draw of its ‘Save For Shelter’ promotion.

At the prize presentation ceremony held on Friday in Lagos at the Fidelity Bank head office in Lagos, three winners of the promo for Lagos zone, were presented with their prizes by the bank.

The star prize winner, Mr Samuel Daniel Ikwuje, smiled home with a cash sum of five hundred thousand naira, while the consolation prize winners, Miss Babatunde Toyin and Mr Ukpabia George Chinonso, got a refrigerator and a generator respectively.

Speaking at the event, Mr Victor Abejegar, the Chief Finance Officer, Fidelity Bank PLC, said that the event represents the 4 th prize presentation organized since the beginning of the promo four months ago.

“This is the 4th presentation organized since the promo commenced four months ago.

We have given out a duplex in Abuja, over N19 million in form of rent support and over 48 consolation prizes such as fridges and generators, etc”, he said.

“With the promo prizes being given to the winners today across all our locations nationwide, the total cash prize/rent support so far given out sums up to over N25 million. A house duplex has also been presented to the winner in Abuja. We still have two more house properties to given out in Port Harcourt and Lagos in the two remaining draws.

“On this 4 th prize presentation, a total of N5 million cash/rent support has been credited to six winners across the nation. For Lagos zone, we shall be presenting N500,000 rent support to first winner and second other consolation prizes.; while in other locations, rent support ranging N2 million,N1 million and N500,000 will also be presented”, he added.

Explaining the rationale behind the promo, Mr Abejegar said, “As you know Fidelity Bank is a major player in the retail and banking space, and we pride ourselves to be one of the leading banks in this very business. Today, we realise that banks need to concentrate more in mobilisation of core deposits, and savings is a major component of the bank deposit liability”.

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VISIT— From left, Pastor Ituah Ighodalo, Team Leader S.I.A.O, Hon. Benjamin Olabinjo, S.A Commerce, Prince Rotimi Ogunleye Hon. Commissioner and Olalekan Akodu, Permanent Secretary, Ministry of Commerce, Industry and Cooperatives during a courtesy visit of Messrs.

S.I.A.O to the Ministry recently.

Bank customers kick against current account maintenance fee *Accuse CBN of legalising illegality Stories by BABAJIDE KOMOLAFE

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ank customers have kicked against the introduction of Current Account Maintenance fee by the Central Bank of Nigeria, saying that this amounts to legalising illegality.

Speaking under the aegis of Bank Customers Association of Nigeria (BCAN), bank customers said that the implementation of the fee will erode the confidence bank customers have in CBN as an unbiased regulator; Affect negatively the budgets and other plans which had been prepared by customers on the certainty of a zero COT regime and expectation of CBN to stop unauthorised collection of Account Maintenance fee by banks; Amount to legalising an illegality- an illegality the Bank seems to have closed its eyes to for years perhaps, because it provided banking system viability and stabilitybut at the expense of our innocent members.

In a communiqué signed by President of the Association, Mr. Uju Ogubunka, and Executive Secretary, Onyema Okoroh, the Association called on the CBN to, “ Withdraw the Circular introducing the fee and allow bank customers to enjoy the free COT regime; Avoid legalising illegality of Account Maintenance Fee; Avoid replacing COT with Account Maintenance Fee; Direct banks that had charged

Account Maintenance fees not only to stop such charges but

We consider it disingenuous for CBN to smuggle, through the back door, Commission on Turnover (COT) back into banks’ revenue line

also to refund all the money they had collected from their customers since the introduction of the Guide to Bank Charges in 2004 (16 years); Endeavour to consult stakeholders before the introduction of charges/fees foreign to the subsisting Revised Guide to Bank Charges.”

Dismissing the reasons adduced by the apex bank to justify the introduction of the fee, the group said: “In the first place, banks are not the only economic entities in the

country affected by declining crude oil prices and market turbulences. CBN ought to know best that banks and other economic entities are operating within the same environment. Thus, what affects one affects the others.

“Consequently, it will be improper and unfair to shortcharge one in favour of the other, in the guise of ‘maintaining viability and stability of the banking system’.

BCAN wonders how the banking system will be viable and stable if bank customers that lay the proverbial golden eggs are ‘killed’. In fact, bank customers and the various sectors of the economy they operate in need to be viable and stable for banks and the banking industry to see the light of the day.

“Beside the above, we consider it disingenuous for CBN to smuggle, through the back door, Commission on Turnover (COT) back into banks’ revenue line. As acknowledged by CBN, COT had been phased out of Nigeria’s banking industry.

From January 2016, COT which banks had appropriated from their customers’ accounts at N3/ Mille for several years was abolished. CBN could not even allow the customers to enjoy a free COT regime for one month let alone a year before introducing Account Maintenance Fee which it also confirmed banks had been charging along with COT contrary to the provisions of the Original/Revised Guide to Bank Charges. Most banks collected from each of their customers a lump sum of N100/ month for the unapproved charge.”

Sterling Bank to support five entrepreneurs with N6m

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terling Bank has devoted N6 million to support five entrepreneurs under its ‘Meet The Executives’ (MTE) Season 2, a business plan competition with opportunities for winners to access grants to finance their business.

The MTE is a social media-led Initiative geared towards encouraging and supporting small businesses and budding entrepreneurs.

The initiative is currently in the “Call for Entries” stage where interested participants submit their business ideas and plans on the bank’s website, following which a review conducted by an independent consultant HT Limited.

Other stages include the training and the final stage wherein the Entrepreneurs present their revised business plans to a panel comprising top executives of the Bank, judges and venture capitalists.

Speaking at a press conference to announce the Season 2 of the initiative, Executive Director, Mr. Abubakar Suleiman, said that the bank has committed N6 million to the initiative which is part of the bank’s effort to boost entrepreneurship as well as promote consumption of locally made products.

“Today ’s economic realities have

necessitated the birth of a crop of businesses led by visionary individuals called entrepreneurs. Although these individuals have been described severally as the drivers of the economy, they encounter a number of challenges, chiefly the need for funding and financial advisory. These are the gaps we are trying to fill with the ‘Meet the Executive’ initiative”, he explained.

He further indicated that the goal of the second edition of the programme is to bring to the fore the creative, innovative and brilliant ideas housed by Nigerians with a focus on developing their ideas and bringing them to life. With up to N6m worth of grants available, participants will jostle to be shortlisted among the final 25 that will defend their business plans/ideas before the panel constituted”.

Borne out of the desire to go beyond basic interaction on social media, “MTE” creates an avenue for the entrepreneurs to have an offline engagement experience with the Bank which in turn accomplishes its purpose of enriching lives. It was introduced in January 2014 to challenge young people to think business planning rather than the normal New Year resolutions.

Vanguard, MONDAY, FEBRUARY 8, 2016 — 23

Corporate Finance

NSE: Why institutional investors still dominate domestic transaction

By NKIRUKA NNOROM

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MIDST decrease in domestic investors’ participation at the Nigerian Stock Exchange, (NSE) institutional investors have continued to dominate activity in the domestic space in the capital market compared to contribution by their retail counterpart.

Recent figure released by the NSE on percentage of contribution by domestic institutional and retail investors for the month of December, 2015 showed significant decline in the total contribution by retail investors.

The monthly data pooled by the Exchange indicate that out of N880.56 billion contributed by domestic investors from January to December 2015to total market value, institutional investors accounted for N497.86 billion, while the remaining N382.70 billion was contributed by retail investors.

On a year-to-year basis, domestic retail investors’ composition of the market fell by 40 per cent from N60.08 billion in January to N39.08 billion in December, 2015. On the other hand, institutional investors’ composition rose to N40.18 billion in December from N30.53 billion in January of the same year.

Also, the institutional composition of the domestic market which was about 47.17 per cent in November increased to 67.86 per cent at the end of December, while the retail

composition decreased from 52.83 per cent to 32.14 per cent in the same period.

According to operators in the market, the continuous dominance of institutional signal weak appetite for risk and lack of confidence in the market on the part of retail investors.

According to Johnson Chukwu, MD/CEO, Cowry Asset Management Ltd, lack of confidence by retail investors is fallout of negative returns recorded in the market in 2015.

In his words, “The dominance of institutional investors in the Nigerian equities market could be attributed to several factors, most important of which is the lack of confidence in the market occasioned by the negative returns suffered by investors in 2015 and since the beginning of the current year.

The market reported a negative return of 17.35 per cent in 2015 and within the first month of 2016, has already recorded a net loss of over 17

per cent.

“Such losses do not engender confidence in investors, particularly retail investors who may not have the competence to select exceptional stocks that can outperform the market unlike the institutional investors.”

H listed other factors to include the current economic environment with its negative outlook, the relatively weak results being released by quoted companies since the second quarter of last year and the absence of credits to retail investors due to the stringent conditions imposed on banks by the Central Bank of Nigeria (CBN) from lending for speculative purposes.

PRESENTATION - From left, Kunle Elebute, Partner and Head, Advisory Services, KPMG; Nike James, Partner, Tax Risk Management; Mrs Kemi Adeosun, Minister of Finance; Tola Adeyemi, Partner and Head, Audit Services, KPMG and Victor Onyenkpa, Partner and Head, Tax Regulatory and People Services during the KPMG CFO forum and Survey Report Presentation in Lagos.

Guinness records N1.2bn half year profit after tax

By NKIRUKA NNOROM

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UINNESS Nigeria Plc has announced N1.2 billion in profit after tax for the half year ended 31December 2015, representing 66 per cent decline over N3.4 billion posted in the same period in 2014. The provisional and unaudited financial statement released on the Nigerian Stock Exchange (NSE) showed that its revenue fell by 10 per cent from N55.27 billion in half year 2014 to N49.83 billion in the review period.

Also, the earnings per share at 78kobo was 66 per cent decline over 226kobo posted in 2014.

However, the company displayed prudent management of cost as it achieved four per cent reduction in its cost of sales.

Specifically, the cost of sales fell from N29.51 billion in 2014 to N28.44 billion in the review period, affirming the brewer’s

commitment to driving down cost to invest in growth.

Commenting on the results, Mr. Peter Ndegwa, the Managing Director/Chief Executive Officer, stated: “Sales revenue came under pressure, declining by 9.8 per cent, as the operating environment weakened further. The contraction in economic activities during the period negatively affected our business.

A significant erosion of consumer disposable income and consequent down-trading by price sensitive consumers took its toll on the industry and affected top line growth. In spite of the deterioration in the economy, our premium core brands showed recovery and resilience during the period with Guinness Foreign Extra Stout and Malta Guinness recording double digit shipment growth reflecting momentum against a weak period. Satzenbrau also performed strongly during the

period with half year net sales growth of 54 per cent as the brand builds its position in the growing value beer segment.

However, this was not sufficient to impact the operating profit which declined by 51.6 per cent during the period.”

He added: “We have maintained our marketing investments despite these headwinds as we launched the first Guinness Stout innovation in ten years with Guinness Africa Special just before Christmas and leveraged our “Every Minute Made of Black” National Consumer Promotion campaign to drive consumer affinity for the brand.

“In the second half, we expect to see some improvement in sales with innovation and the distribution of Diageo’s international premium and mainstream spirits brands which have been integrated into our business, although the set up costs mean that the operating margin is not

expected to benefit until the next financial year.

However, this is subject to an improvement in the trading environment which remains volatile with speculation of possible currency devaluation, non-availability of foreign exchange even for eligible transactions and inflationary pressure.”

Guinness Nigeria recently acquired the right to distribute Diageo Plc’s international Premium Spirits (IPS) brands in Nigeria in December 2015.

The company also announced the acquisition of the right to distribute McDowell, a United Spirits Limited brand in January 2016.

These acquisitions fill the gaps in the spirits brand base of Guinness Nigeria, allowing it to compete across all categories of the alcoholic beverage market in Nigeria thereby deepening its operations and boosting its balance sheet growth potential in 2016 and beyond.

Berger Paints outsources depots to enhance shareholders'value

By PETER EGWUATU

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n a renewed effort to reduce huge cost of operations and boost shareholder value, Berger Paints Nigeria Plc, a quoted company on the Nigerian Stock Exchange, NSE has concluded the plan to outsource its 17 depots nationwide.

The strategy, aimed at enhancing accessibility, visibility and availability of the company’s products is expected to boost earnings and strengthen its competitive edge.

Besides, as a corporate citizen, Berger Paints has redeployed some of the affected staff while some new hands had been recruited in order to put the company on sustained platform of profitability .

Commenting on the development, the Managing Director and Chief Executive Officer, Mr Peter Folikwe explained that the strategic move was designed to improve the company ’s operational efficiency and ensure strong and sustainable growth of both the top and bottom line.

“These steps taken by the Board and Management will enhance proximity of our products to our customers and ensure the availability of genuine Berger Paints products all over the country”, Folikwe said .

According to Folikwe, this aggressive expansion scheme by the company has seen the deployment of existing and newly recruited employees to cover its front and back end operations.

He noted that by the completion of the first phase of the outsourcing scheme, the second phase has also commenced.

Under the second phase, Franchisees would be appointed in other locations of the country where Berger Paints has minimal presence and visibility.

Mr. Folikwe advised existing and aspiring entrepreneurs to key into this scheme which promises to be a rewarding one as testified to by those distributors and dealers.He encouraged existing and potential customers of the company not to use inferior paint products, because these do not only have severe mid to long term financial implications, but also constitute health hazards.

24 — Vanguard, MONDAY, FEBRUARY 8, 2016

Homes &Housing Finance

Things to consider when buying a house

By YINKA KOLAWOLE, with agency report

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s a renter, you have the luxury of choosing a place that meets your needs at the moment. Buying a home is a much bigger commitment, both in terms of finances and the length of time you’ll likely live there. When seeking out a house to buy, it’s important to do your homework.

As one of the largest financial decisions in a person’s life, buying a home requires discretion, sensibility and budgeting. The following tips will keep you on the right path

as you look to purchase your house.

Have your cash ready In Nigerian real estate cash is king. Once you’ve got the cash, you’ve got the power to purchase any property your heart desires.

The goal is to ensure that you have accumulated enough cash to purchase the property, pay all fees and make needed modifications and improvements as necessary. However, given the emergence of the mortgage industry, there’s now an alternative for cash strapped buyers who do not have the complete funds to make an

outright purchase.

No perfect home Your first home may likely not be the perfect place, but make it the right one. Finding the right home is often a matter of prioritising. Make a list of “must haves,” along with “nice to haves” and “not necessary to haves.” Only you can measure the importance of the amenities you are looking for. Homebuyers who distinguish between wants and needs make the most sensible decisions. A list of musthaves should include items that affect your quality of life, such as a home’s location, its price,

number of bedrooms, security, light and square meter. You should be prepared to concede nonessential items, such as views and extra rooms, if you find a house meets your musthaves and is within your budget.

Being flexible also involves adjusting your criteria as the home search progresses.

Quality of workmanship Your first place may not come with many frills or luxury features – but all the basics should be in good condition.

Thoroughly inspect prospective properties. And before any purchase is made, performing an

inspection with your team (plumber, electrician, generator man,) is a must.

Growth possibilities Shop for a place that meets your current space needs, but also consider one that can adjust to a changing household. A fiveyear plan may not work out as you expect, so think about possible life changes (new job, marriage, children, new business, extended family) that could impact your need for bedrooms, bathrooms and square meterage.

Consider all costs When you buy a home, you take on recurring costs you don’t have to worry about as a renter.

The cost of a home is just the start, and smart buyers tighten their belts before buying to meet the monthly and yearly financial demands of home ownership. Look for a home that meets your budget in terms of full living costs – mortgage, bills, dust bin, security, electricity, pick-up, sewage fees, estate association dues and other fees. You’ll also need cash on hand for the upkeep and repair costs that come with any home. The average homeowner spends a decent amount of money on property maintenance each year.

Expect to pay for repairs or maintenance even within the first year of owning your home.

Lifespan of things In addition to identifying cosmetic and structural flaws before you buy, know what to expect from the home’s components. How long until you need to replace the roof, appliances, or carpet?

Everything may be in working order now, but all homes need these types of repairs at some point.

Researching the expected remaining life on largeticket items can help you plan for the future.

Keep your cool Don’t get overly excited in your search, especially in markets where homes are selling quickly. A bit of self-restraint prevents you from overspending or choosing a home that doesn’t fully fit your needs. Be prepared to walk away if a home inspection reveals more defects in a home than you’re able to deal with.

Finding the right home that fits your lifestyle and budget can take weeks or months. By starting early and being patient, you’ll avoid the sense of urgency that often drives homebuyers to make hasty decisions. *Source: Lamudi Nigeria

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Vanguard, MONDAY, FEBRUARY 8, 2016 — 25

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26 — Vanguard, MONDAY, FEBRUARY 8, 2016

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28 — Vanguard, MONDAY, FEBRUARY 8, 2016

People in Business

Our youths want money without hard work — ONAOLAPO

By EBELE ORAKPO

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r. Jide Onaolapo is the Managing Director/Chief Executive Officer of Hakonix Technologies Limited, an outfit that provides technology consulting, systems integration and capacitybuilding solutions to public and private sector organisations, with headquarters in Abuja and offices in Enugu and Lagos. In this chat with Financial Vanguard, Onaolapo, a business analyst and information systems architect tells his story and regrets that today’s Nigerian youth is not ready to put in the hard work needed to excel. Excerpts: Background: According to Onaolapo, his background is in urban city project management, networking and database administration. “I studied at the Ahmadu Bello University, Zaria and then started work with an organisation that built Lagos State’s Oracle Financial system and from Lagos, I came to Abuja and joined another technology company. I started out as the technology resource person and was later picked to perform project administration and management roles, and graduated into advisory role, developing strategic plans for organisations like the EFCC, and financial units of some institutions like the West African Telecommunications Regulators Assembly.

"I was involved in a lot of public agencies’ start-up development.

Starting Hakonix: Although I started Hakonix in 2003 but it never got any jobs until 2006.

When I came to Abuja, I took up a job with a technology company and from there, I moved on to Quantec, another technology company which I left in 2007.

"Hakonix started out with automation of the tax administration system for the Kaduna State Board of Internal Revenue. That project was interesting because it was done pro-bono and a financial institution became interested in it and funded the implementation.

Our start-up capital was probably what we made from our first job. That helped my moving out into a proper office apartment. I think our first profit was around N2m.

Although we operated out of Abuja, we have not done so much in Abuja as it were. We have gotten jobs in other states. About 70 per cent of our jobs are outside Abuja. We had jobs in the north but when the bombings started; our staff took off so we had to shut down.

Breakthrough: "Then they began to take us to other states to work with them and also gave us other IT jobs; so we started to consult for the financial institution. From there, we did some consulting engagements for other organisations like Galaxy Backbone on enterprise projects and C M Y K

has blinded so many people that they begin to look up to those people to extract from them instead of questioning their source of wealth.

Same thing has permeated politics so badly that you cannot get into politics without money in Nigeria. You will never get anywhere without money.

How many people who really work hard for the money and have carved a niche for themselves will want to leave it and get into politics? Not many.

You have to have a deep passion to serve to be able to make that kind of sacrifice. So those are the societal issues that are bringing the country down.

many others.

I have been working in the public sector since 2000 and my experience in that sector is interesting.

Being focussed: Before going to work at Quanteq Technology Services, I actually had a break. I wanted to go into properties because I saw too many interesting opportunities while doing consulting job with the Dept of Parks and Recreation, probably because of my background in built environment.

After a while, I realised it was not what I wanted. I did not have paid job and things were not working the way I wanted. It was tough. Moving to Abuja was tough but in life, if you want to achieve your goals, you just need to get into it – focus, persevere, deliver and the rest will take care of themselves.

Challenges Onaolapo said the major challenge in his field is the issue of low quality work force and attitude of the average young person to work.

"I am from the school of thought of delivery. The kind of human resources we have in the country today is a challenge. A lot of young people find it difficult to immerse themselves into work. You know, once you start to work, it is different from going to school especially if you have focus and drive, you will realise that you don’t really know much and you need to put in a lot to be able to deliver. But these days, you find that a lot of young people don’t exactly want to put in a lot and they want the money. They want the money without the work which is not possible.

"People come in and you expect so much from them with their qualifications. Put them on a desk and they cannot deliver. It is very sad so we tend to hire people with master ’s degree from the UK or US because you know that at least they will have an understanding of what it means to fold their sleeves and work.

Going the extra mile: "Back in the days, you stay in the office till the job is done but these days, people leave before 5.00pm, especially with excuses like going to church as if that is what pays their salary. It’s about hard work; religion and work life have to complement each other. You need to deliver value in order to be blessed by religion. If you don’t deliver value, is it magic? It is not about how hard you pray; you need to position yourself for opportunities in a way that someone will see and say ok, I can work with this person; this person can benefit me.

I tell people that I employ them not exactly to train them as in physical oneon-one training, but to present a platform for them to showcase their capabilities in terms of rising up to occasions. ‘If you don’t know something, research it, know it and own it so you can speak and write about it.

Staff: We are down to nine now from 13. We do a lot of public sector engagement so it is hard to keep up. For now, we employ as the need arises.

Once we get a job, we get more staff. We started Hakonix with very small money.

Jide Onaolapo... If you don’t know something, research it, know it and own it

"A lot of people have no clue and unfortunately, they are not willing to put in the time to build the capacity needed to push them through. A few good ones are out there but unfortunately too, some of them assume that they already know a lot and they can go out on their own so we lose a lot such people but very few do stay and I encourage them to aspire to become partners in an organisation.

Lack of zeal: That zeal is no more in the Nigerian workforce. I think it is a societal thing.

Nigerians generally have high aspirations, unfortunately, most of them don’t exactly equate hard work to aspiration. It is good to aspire but you need to work hard to get to where you aspire to be. It is not about magic. It is the reason why we have a lot of people going into financial and cyber crimes.

All the 419 scam are aspirations.

They want to acquire the material things of life but not put in the effort to match the acquisition. You see a lot of people you cannot justify their wealth with capacity. That is a societal thing, we allow it, religion allows it.

You go to religious institutions and they are talking about just giving and prosperity, very few people talk about hard work and ask questions. When someone gives tithe or sadaka, do the clerics ask them how they got the money? It is obvious that the person’s salary scale cannot equate with what he brought.

You see students carrying N200,000 phones and you are in school, it is a simple red flag but the poverty level

It’s about hard work; religion and work life have to complement each other....you need to deliver value in order to be blessed by religion

Indomie to sample 8m consumers nationwide

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ufil Prima Foods Plc, makers of Indomie, has disclosed its intention to sample over eight million consumers nationwide this year, as part of its efforts to continually ensure objective consumer feedback and satisfaction.

Speaking on this development, the Brand Manager, Indomie, Mr. Amber Yadav, stated that the major reasons behind the projected sampling exercise is to create excitement and increase emotional connection between the brand and its consumers.

Amber affirmed that the sampling exercise will include all variants of Indomie and this will be carried out in all the geo-political zones of the country namely: North-Central, North-East, North-West, South-East, South-South and South-West, with special focus on key cities across the regions.

“Sampling our consumers is important to us because it affords us the opportunity to have an idea of their preference, which no other medium can provide. The feedback generated from the sampling exercise will assist in improving our product development process.”

Also speaking on the subject, the Public Relations/Event Manager, Dufil Prima Foods Plc, Mr. Tope Ashiwaju, said “Sampling is a sure way of converting prospective consumers into brand loyalists. This will also give them the opportunity to experience the brand firsthand. The sampling will give the undecided consumers a trial experience which would gear them towards becoming our consumers.”

The sampling exercise, according to Ashiwaju, would be strategically executed not only to serve as a feedback mechanism, but to further strengthen the bond between the brand and its consumers.

Vanguard, MONDAY, FEBRUARY 8, 2016 — 29

Business & Economy

Irish investors urged to consider ‘world’s most exciting economy’

By CHINEDU ONYEJELEM

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nvestors in Ireland have been urged to consider Nigeria’s Enugu State as a destination for sustainable direct foreign investment. The call was made by the Enugu State Governor, Ifeanyi Lawrence Ugwuanyi during a meeting with prospective investors at the Ireland Enugu State Mini Investment Summit, held recently in the Westin Dublin Hotel as part of the Governor ’s three-day official visit to Ireland organised by Metro Éireann.

Addressing the more than 130 participants, Gov Ugwuanyi said his drive “is part of initiatives of the state government to diversify the state’s economy, generate employment and generally boost economic activities in the state for the benefit of all concerned.”

He said Enugu State,

popularly known as the Coal City, has “vast potentials, promise and prospects”, adding that investors who avail of them stand to benefit immensely – and that his government and Nigeria as a whole have “confidence” in investors from Ireland.

“Our visit here has been partly inspired by the assurance given by the Irish Minister for Agriculture, Food and the Marine, Simon Coveney, during his recent tour of Nigeria, of plans by the Republic of Ireland to expand its investment portfolio in Nigeria in the next four years,” the governor added.

“Ireland, as a matter of fact, has maintained a strong trade relationship with Nigeria dating back to 1961 when she established her first ever Embassy in Africa in Nigeria.”

Gov Ugwuanyi said the vast opportunities that exist were acknowledged by Minister Coveney, who stated then that

despite a “very challenging environment” with increasing demand for food, energy and infrastructure, Nigeria “is possibly the most exciting economy in the world to work in considering the potential for growth and expansion in terms of resources, in terms of population growth.”

Telling the Mini Investment Summit that Enugu State would like to play a major role in helping Ireland achieve its investment plans in Nigeria, Ugwuanyi said that Enugu State “is a very viable and safe place for [investors] to do business in Nigeria and indeed the west African sub-region.”

He said

Enugu State has high standing as “the political, administrative and cultural capital of the south-eastern part of Nigeria” and more recently has attained status as “an economic powerhouse and investment haven with hundreds of local and foreign investors having located and relocated their businesses to the state.”

The governor stressed that his administration has

launched numerous developmental efforts aimed both to better the lives of the people and also to enable potential investors to have easy access and operate conveniently in any part of Enugu State in which they choose to invest.

“All of these have been instrumental to Enugu State being named the safest state in the country and Enugu, the state capital, being listed in 2014 among the 100 most resilient cities in the world – the only one in Nigeria and one of the five in Africa – by the Rockefeller Foundation,” he said.

MoU: From left, Deputy National President, Amalgamated Union of Public Operation ,Civil Service, Technical, and Recreational Services Employees (AUPCTRE), Comrade Christain Elibe; MD Sungold Estates Ltd, Amarachi Iwuanyanwu; National President, AUPCTRE, Comrade Solomon Adelegan; Acting MD, FHA Homes Ltd, Hayatudeen Atiku Awwal at the signing of an MOU between AUPCTRE/FHA Homes and Sungold Estates Ltd., for the development of a shopping mall in Gwarinpa Abuja.

SEC to penalise banks charging fees for e-dividend registration

By EMMA UJAH, Abuaj Bureau Chief

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he Securities and Exchange Commission, SEC, is to penalize Deposit Money Banks and Capital Market Registrars for charging fees in the on-going e-dividend registration exercise.

Nigeria small investors’ unclaimed dividend currently stands at about N90 billion.

Investigations revealed that SEC had been inundated with complaints from shareholders who heeded the campaign and went to banks and registrars to register for their e-dividend.

It was learnt that some registrars bluntly refused to register shareholders. Their reasons ranged from lack of internet connectivity, inadequate instruments, non-availability of e-registration forms, to waiting for directives from their headquarters.

It was learnt that some banks were charging as much as N1, 200 to register each shareholder.

Charging fees, under any guise for the exercise clearly contravenes the regulations SEC which has been campaigning that the registration exercise was free for the first 90 days.

The exercise started on December 14, 2015.

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Even if a shareholders were to go to any bank of Registrar for the registration, at the expiration of the initial 90 days, what SEC regulation provides for would be to pay a fee of N100, only.

It was learnt that the management of the SEC was furious and had decided to summon the banks and registrars, with a determination to make it abundantly clear that it viewed every infraction in the exercise seriously and would not hesitate to penalize any organisation that decided to collect unauthorized charges from shareholders.

The push for e-dividend, which would enable shareholders collect their dividend through their banks, is being undertaken by SEC, in collaboration with the Central Bank of Nigeria, Nigeria Inter-Bank Settlement System Plc, NIBSS, Committee of Heads of Bank Operations and the Institute of Capital Markets Registrars, ICMR. It was learnt that quoted companies and their Registrars were in a league with banks to frustrate the e-dividend registration exercise in order to continue to keep the huge unclaimed dividend.

The e-dividend registration exercise is expected to eliminate the practice whereby companies and their registrars hold to shareholders’ dividend on claims that the owners failed to come forward for their dividend.

30 — Vanguard, MONDAY, FEBRUARY 8, 2016 “A truth that’s told with bad intent/ beats all the lies you can invent.”

William Blake, 1757-1827. VANGUARD BOOK OF QUOTES p 254.

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rofessor Chukwumah Soludo, former Governor of the Central Bank, CBN, was in his elements a few weeks ago, when he declared that the current CBN Governor, Godwin Emefiele, turned the bank into an ATM machine for the Jonathan administration. The imports of that statement are numerous; but, two would have struck most readers who are no knowledgeable about the role of the central bank in any nation.

Given the current frenzy associated with the anti-corruption drive, Soludo must have guessed correctly that the present CBN Governor would be judged as an accomplice, before or after the fact, of whatever is later proved less than prevailing interest The bulk of government money to have been corrupt practices rates. is lodged there and to it the by the previous In all the disclosures so far government goes 24/7 to administrations(s). In addition, made about public funds being request for its money – just like the CBN should be held guilty misappropriated – whether for an ATM machine. And, when of reckless release of funds in arms, or from NIMASA or the government makes a order to please the Jonathan pension etc – there has been request for its money, administration from 2010 till no single case made of the following laid down May 31, 2015. On both counts, CBN releasing funds which procedures, like any other Soludo was deliberately had nor received approval by account holder, the CBN must playing to the attentive gallery the Okonjo-Iweala and pay promptly. The CBN like because he is dead wrong.

Jonathan. Contrary to the any bank cannot ask a depositor And, he knows it. But, rumour generously provided or account holder to explain unfortunately, Soludo had by the Directorate of State what is to be done with the become a politician since he left Service, DSS, and the withdrawal; it has no veto office in 2009. He twice ran, Economic and Financial power over the end uses to unsuccessfully, for governor of Crimes Commission, EFCC, which the funds are directed. his state spending unexplained To pretend otherwise and to try millions of naira. There will be and convince Nigerians that more on that later. any CBN governor can fail to For now the focus of attention pay is to tell a bloody lie. is whether the CBN became an Furthermore, the bank can do ATM machine under Jonathan/ little even if the CBN knows Emefiele or has always been.. that the funds are being The facts don’t support Soludo; embezzled after they have left indeed they expose his its vaults. The power of deliberate distortion of facts oversight passes immediately and hypocrisy. Charles Soludo to three other institutions – the as an 100-Level legislature, the Fourth Estate undergraduate at UNN must of the Realm and the judiciary. have known that the CBN, like The central bank seldom all central banks worldwide, is investigates the disbursement the government’s own ATM of funds – other than when it machine. That is a fact is related to special irrespective of whether the programmes for which it is President is Obama, Putin, required to provide the funds Jonathan or Buhari. The central for other banks to manage e.g bank is the government’s agricultural loans granted at banker of first and last resort.

Soludo vs Emefiele: Pot calling kettle black

To pretend otherwise and to try and convince Nigerians that any CBN governor can fail to pay is to tell a bloody lie

even Sambo Dasuki did not collect a kobo from the CBN which was not authorized by the Minister and the President.

Let us now examine what happened in 2007, when Soludo was Governor of the CBN. A Senate Ad Hoc Committee was established to probe the mismanagement of Petroleum Development Trust Funds, PDTF, by Obasanjo’s administration. (See pages 179 to 198 of my book PDP: C O R R U P T I O N INCORPORATED for details.

By the time the Ad Hoc Senate Committee wound up its sitting, the following had been established.

First, instead of paying funds belonging to the PDTF directly, as required by the PDTF Decree 25 of 1973, signed into law by General Gowon on June 4, 1973, Obasanjo had colluded with Soludo’s CBN and the funds were diverted to a CBN account over which Obasanjo had sole control. It was an impeachable offence; and Soludo’s bank went along with it.

By the time the Senate Ad Hoc Committee finished its work, the following amounts have been discovered to have been mismanaged by the

Obasanjo administration.

1. $1.76 billion (N228 billion at N150/US$1; N456 at N300/ US$1.

2. $11 million 3. $222 million 4. Another $1.76 billion drawn down to $142.5 million without record of the purpose for the withdrawal.

5. N20 billion ordered released to DICON to develop OBJ rifle; but only N10 billion actually released.

(See page 193 of the book).

Some individuals close to Aso Rock and reliable sources had pointed out that the Constitution Amendment which was funded to pave the way for the Third Term agenda, as well as the bribes paid to members of the National Assembly to facilitate the passage of the amendment were funded from this illegal account maintained by the government in the CBN. Obviously, if ever the CBN was turned into an ATM machine for warehousing stolen public funds and using them for personal agenda, it occurred under Soludo; he was the accomplice to grand felony in 2007.

Those living in glass houses should not throw stones…

E-Commerce

Research shows Nigeria’s internet affordability remains poor Stories by JONAH NWOKPOKU

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igeria has one of the most expensive broadband in Africa, says a research conducted by online car marketplace, Carmudi.com.ng.

The study, which showed Nigeria with deep internet penetration of up to 200 per cent, noted that the country still lags behind when it comes to affordable internet as broadband gulps up to 30 per cent of household income.

According to the report, “Carmudi Nigeria’s research showed an increase in 2013 when Nigeria’s internet penetration grew by 200 per cent overtaking South Africa’s 60 per cent to become the country with the largest number of internet users in Africa. South Africa’s internet penetration became the second highest for all African countries and in third and fourth places C M Y K

is Morocco with 55 per cent and Egypt, 44 per cent. This is well above the figure of 16 per cent for Africa as a whole, and is comparable with 31 per cent for developing countries worldwide.”

On the real cost of broadband access across surveyed countries, the report also noted that, “A survey on price range

of internet service distributed

by Carmudi across African countries showed that unlimited fast and reliable internet in Togo cost as low as N5000 for a month while the same quality of internet in Ghana cost less than N100 daily. In February 2015, a Rwanda 4G internet provider slashed its tariff by 70 per cent

automatically becoming the cheapest internet service in Africa.” The report further noted that Nigeria ranks seven when its internet tariff is gauged on a scale of one to ten in the affordability index, making it more expensive than most African countries.

Recall that in 2013, Nigeria ranked 142 out of 169, on

affordability rating for fixed internet broadband and it seems not much has changed.

Speaking on the report, Managing Director of Carmudi Nigeria, Amy Muoneke, said: “There are now more than 35 mobile network operators in Africa busily extending their base station networks to improve coverage and it is our hope that in the near future, broadband in Nigeria will become more affordable so as to contribute more revenue to the country’s GDP and also the ever growing e-commerce industry.”

PushCv reports increased adoption by employers

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ushCv.com has reported increased adoption of its solution by employers as the online pool for pre-screened job candidates expands, reasserting its relevance in the Nigerian labour market.

In a statement, PushCv’s Co-founder, Eweniyi Odunayo said the increased adoption is being driven by the critical need of employers to leverage the solution for top talents across every sectors of the economy.

According to her, “In today ’s competitive marketplace, staying ahead of the competition and recruiting the

very best talent for your firm requires a proactive, data-driven and innovative recruitment strategy. That means not only knowing where to look for these candidates, but also knowing what to look for in potential employees. And this is why PushCV continues to trend among employers.”

She said: “Employers now use PushCV to get quality candidates in 24 hours. This is because, among other things we do, we also have data that help employers understand where the competition for these individuals is highest and what constitutes

competitive compensation. We also put employers’ best brand forward through right employment branding efforts and recruitment marketing efforts that can go a long way in attracting talents with the right transferrable skills any organization needs.

“More so, we confirm references and give hard thoughts to skills. This is because while 40 percent of today’s graduates have their bachelor’s degree, 41 percent have other college/ tertiary education, but findings indicate that a college degree does not necessarily predict staffing industry success."

Vanguard, MONDAY, FEBRUARY 8, 2016 — 31

Economy

Nigeria’s economy in the next 4 yrs, by NBS STORIES BY EMEKA ANAETO, Economy Editor

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midst several projections of challenging economy in the year 2016 by many economists and the International Monetary Fund, IMF, the National Bureau of Statistics, NBS, has outlined its own position on all key economic indicators, not just for 2016 but also in the next four years to 2019.

The projections covers the annual growth rate of real Gross Domestic Products, GDP, annual Inflation rate, and the annual growth rate of the Value of Total Trade, VTT.

Gross Domestic Product, GDP In a report released last weekend NBS said “growth in 2016 is expected to be tepid at best”.

Economic tepidity is one characterised by dull activities in key market segments and performance areas.

NBS’ prediction was based on the happenings in the economy recently especially in 2015 marked by huge negative impact of its dependency on oil revenue amidst price shocks.

It noted “years prior to 2015, the Nigerian economy was largely supported by the non-oil sector as supply disruptions hampered oil output. In 2015 however, various factors including political uncertainty prior to and six months after the elections, and intermittent supply shocks of refined petroleum products, and others weighted on both oil and nonoil output. The entire economy took a hit”.

Consequently GDP which is the key indicator of economic health of a country was on the downside, declining in the first and second quarter with marginal recovery in the third quarter 2015.

However, NBS stated that “in 2016, the economy is expected to grow by 3.78 per cent, as output in the oil and non-oil sectors are expected to perform marginally better relative to 2015”. According to the Bureau, Federal Government’s main economic research agency, “the

declines in prices of crude oil and related refined products give the Nigerian government the opportunity for some potential savings as subsidies payments on PMS and other refined products may be diverted into more productive aspects of the economy”.

It noted that “the government has taken a step further to repeal subsidies on kerosene products.

As it stands there are no subsidies on PMS and this should bode well for government coffers going forward.

“In the near term, support to the non-oil sector is expected to come through initiatives by the Central Bank of Nigeria, CBN, and the Government at Federal and State levels.

“One of such initiatives is the N300 billion Naira export stimulation fund by the CBN. Increased efforts by State governments to boost internallygenerated revenue, when combined with more prudent and targeted infrastructure spending, is likely to lead to better output performance”.

Going forward NBS said the 2017 to 2019 period is expected to reap the benefits of the extra N1.6 trillion into capital expenditures in the 2016 budget, adding that in particular, plans by the government authorities to increase power supply by developing critical infrastructure to transport gas to the power plants in order to add 2,000 mega watts to the country’s stock of

We expect that the Central Bank’s adjustment of the foreign exchange management framework will be steady in the year and will thus mean a gradual easing in prices beyond 2016

effects of these measures NBS said over the 2017 to 2019 period, growth is expected to average 5.42 per cent.

Inflationary Pressures

•Buhari power within the next 12 to 15 months will have multiplier effects on both the manufacturing and services sectors.

NBS stated “other measures expected to spur growth include fiscal measures such as the implementation of the Treasury Single Account, TSA, improvements in tax collection efforts and the creation of an Efficiency Unit in the Federal Ministry of Finance to ensure that scarce resources are adequately deployed.

With hopes on the salutary

Another key economic variable examined and projected by NBS is the inflation rate. In this report NBS has projected that inflation may rise to 10.16 by end of 2016.

But it also indicated a gradual decline such that over the 2017 to 2019 period, inflation is expected to average 9.01 per cent. NBS’s outlook for the previous year predicted that curbing inflation would be harder to achieve as a result of the devaluation of the Naira, which occurred in November 2014. Indeed the first half of the year recorded more macroeconomic volatility as the headline rate, year-on-year, recorded a wider range relative to the second half of the year.

In the Second half of the year speculative pressure on the Naira compounded supply shocks exhibited in the first half of the year.

Though administrative measures by the CBN helped curb some inflationary pressure, according to NBS, speculative pressure on the Naira is likely to exist in 2016 in light of the current state of foreign reserves.

The Bureau noted, ‘’while administrative measures will help provide some cover, the downside risk of such measures

is that by making imported goods more difficult to obtain, they increase the price of such goods, leading to higher inflation. “We expect that the Central Bank’s adjustment of the foreign exchange management framework will be steady in the year and will thus mean a gradual easing in prices beyond 2016”.

Value of Total Trade 2015 saw a decline in both the values of imports and exports.

Exports were weighed upon by the decline in the price of crude, while overall sluggish growth as well as foreign exchange restrictions weighted on the value of imports. NBS stated that “going forward the relative lower price of the Naira is expected to result in cheaper prices of nonoil exports, and again curb increases in imports.

“Nevertheless, Value of Total Trade is forecast to increase on the margin, increasing by 2.41 per cent as Imports increase by 2.88 per cent and exports increase by 2.16 per cent.

“Beyond 2016, a stabilization in oil prices while not expected to reach 2014 levels in the medium term in combination with a more competitive economy is expected to yield a rebound in both imports and exports.

“Total Trade is projected to increase by 2.41 per cent in 2016, and grow by an average 15.62 per cent yearly over the forecast period 2017 to 2019”.

Morgan Stanley oil price forecast puts pressure on Nigeria’s 2016 deficit

W

ith the undulating price movements in the last 10 days, Morgan Stanley, a US based investment banking giant, has predicted that the price of oil will continue to remain low. The bank has consequently cut its quarterly crude forecasts for this year by as much as 51 per cent.

According to the report, Brent crude is expected to average USD29 a barrel in the three months to December, compared to

Historical and Projected growth rates for GDP, Inflation and trade, annual (%)

USD59 estimate it made last month.

Nigeria’s 2016 budget was based on oil price of USD38 per barrel, expected to yield over 80 per cent of the N4.1 trillion revenue estimate for the year to fund over 70 per cent of the N6.1 trillion budget. The balance N2.0 trillion deficit would be funded through external and internal borrowings.

With most of Nigeria’s oil going at less than USD25 per barrel for most of this year the

size of the deficit has widened by over 60 per cent while borrowing to bridge the gap appears uncertain.

However some observers think that prices could move favourably as it did a few times this year, especially if the rumoured meeting between OPEC, Russia and other non-OPEC countries take place even though no date has been fixed and Saudi Arabia, a leading oil nation, may not support it.

Percentage annual growth in Real GDP

32 — Vanguard, MONDAY, FEBRUARY 8, 2016

(0805 220 1997)

P

resident Muhammed Buhari’s is proposing to spend over N6trillion in the 2016 Appropriation bill, even though government ‘reasonably’ expects to earn about N3.8trillion as revenue.

Indeed, according to the budget proposals, N984bn will be borrowed in Naira from personal and corporate holders of surplus cash to fund the shortfall, while $4.5b (N900bn) will also be borrowed from the international market at the current exchange rate of about N200= $1 and prevailing commercial interest rates will apply.

In practice, a ready market for government borrowing is clearly a demonstration of investors confidence on the resilience of an economy and the ability to pay back, when the loan matures. Nonetheless some critics may recall, that we were once beguiled into an oppressive debt trap, by the popular refrain of international financial experts, that Nigeria was grossly under borrowed; the effusive flattery worked and government rapidly liberalised external borrowings until re-payment became a challenge and Nigerians were subsequently ‘bullied’ to ultimately part with about $18bn to obtain partial debt forgiveness from creditors in 2006.

Sadly, our national debt is, unexpectedly, presently more than double the $32bn debt, which was considered dangerously high with unsustainable related service charges, only ten years ago.

Incidentally, if CBN’s Treasury bill borrowings are included, the present proposal for $9bn loan will propel our debt burden closer to $100bn.

Furthermore, the unfortunate history of poor implementation and rampant

to specific, visible, critical social infrastructure projects such as comprehensive networks of road, rail, gas and fuel pipelines or indeed, the East-West Road and the 2nd Niger Bridge, for example.

However, even if the IMF/ ADB loans appear friendly, we may be well advised, to avoid non multilateral commercial loans which are usually subject to international cash flow volatility, which could be injurious to our Stock market and Naira exchange rate, and could also trigger destabilising consequences for the economy and our ability to repay our external debts. Conversely, the N9bn Naira domestic loan is less risky, even though it attracts much higher average interest rates around 15%; sadly, such rates are invariably also inappropriate for risk free sovereign debts such as ours.

The critical question, however is whether or not a N2.2Tn budget deficit is a responsible response to the collapse in revenue from our major traditional source of income. Thus, with no end in sight for low crude prices, the budget will again inevitably accommodate higher deficits in 2017 and further instigate additional borrowings that may soon require the dedication of over 50Kobo out of every Naira Nigeria earns to service debt annually.

Presently, only the National Assembly can redeem us from this oppressive predicament.

There is clearly an urgent need for patriotic and socially sensitive parliamentarians to firmly stand up against such reckless debt accumulation which will mortgage the future of Nigeria, by demanding a thorough overhaul of the 2016 budget to produce a more sensible and responsible balanced fiscal plan that is in tune with the current austere times.

To borrow or not to borrow corrupt practices may not inspire public confidence that a fresh N2Tn loan will be judiciously applied, despite Buhari’s renowned integrity factor, if Honorable members of the legislature, and their counterparts in the civil service do not wean themselves of the gluttonous appetite that comes from the pervading mindset of “ it is our time to chop”!

Clearly, a deliberate increase in total projected expenditure by over 30%, despite the dismal prospect of dwindling revenue, does not suggest best practice or responsible financial management which advises that, you cut your coat according to your cloth. Thus, it is more appropriate to adopt a balanced budget in austere times rather than a heavy commitment to further borrowing just to fund a spending spree which will not generate additional revenue, but will inevitably further compound our debt obligations to spike related service charges beyond an already precarious level.

Indeed, the IMF’s Christine Lagarde recently aptly described the 2016 fiscal plan as akin to applying 35kobo out of every Naira we earn for debt service annually.

Although, the 2016 capital allocation of 30% has been celebrated as appropriate, there are real concerns that the increased expenditure, may not, as usual, be applied to critical infrastructural projects that would touch the lives of more Nigerians nationwide.

Furthermore, financial waste will become grossly magnified, if the present Administration decides to commit to fresh projects with long gestations, without first

identifying and completing those viable and socially supportive, ongoing projects that were inherited from previous administrations.

However, cynics may suggest that such a responsible approach to project selection and implementation would diminish the ‘beef’ in contract awards and the provision of jobs for the boys; afterall, we must remember, that not all politicians were as lucky as Buhari who did not have to sell property or obtain loans to contest elections for a lucrative stint in public office.

Unfortunately, not even a contrite Buhari, who has already confessed to being shackled by the Judiciary in his anti-corruption crusade, will be able to stop desperate political buccaneers from their ‘harvest’ of closer access to easy public funds.

Nonetheless, in place of the proposed 30% deficit in 2016, the size of loans required to fund a 60% deficit in the initial N8Tn budget estimate

In practice, a ready market for government borrowing is clearly a demonstration of investors confidence on the resilience of an economy and the ability to pay back, when the loan matures

canvassed by Vice President Osinbajo, would have clearly compounded our national debt well beyond N100bn, with increasingly oppressive related service charges that would inevitably remain troublesome for this generation as well as for millions of Nigerians yet unborn.

Although, some experts have suggested that, Nigeria’s current debt to GDP ratio of barely 12.5%, presents no cause for alarm, it would clearly be suicidal, nonetheless, if over 35% of projected annual revenue is simply dedicated to debt service; such a horrid imbalance would invariably lead us, ultimately, into another death trap with possible loss of financial sovereignty, to our historical saber-rattling shylock creditors. Ironically however, Buhari’s plan to borrow almost N2Tn to fund the 2016 deficit is totally in contrast to Christine Lagarde’s observation, during her trip to Nigeria, that Nigeria does not need to borrow and that the IMF was not currently in talks regarding loan support with Nigeria.

Inexplicably, however, barely a month later, the Finance minister, Kemi Adeosun, has elatedly announced that IMF would fund $2.5b of the external loan component in the projected deficit in 2016, while the African Development Bank would fund another $1b; apparently, a balance of $1b will be sourced at higher commercial rates of interest, which could be, between 7-10%.

Nonetheless, it is hardly contentious that with interest rates usually below 3%, and the extended moratorium and generous payment terms, the IMF and ADB loans should be welcome, provided the proceeds are strictly dedicated

Business & Economy Telecommunications spur growth in GDP Continued from page 19 63.38 per cent of incoming porting activities. Airtel and Globacom received 26.28 per cent, and 7.40 per cent of subscribers respectively, and MTN received the fewest, accounting for only 599, or 2.94 per cent. This was the 11th consecutive month that Etisalat accounted for more than 60 per cent. In total, Etisalat has gained 63.34 per cent of all incoming porting activity since September 2014.

On the whole, incoming porting activities grew by 3.39 per cent over the past 12 months, equivalent to growing C M Y K

at 0.28 per cent every month.

This was driven entirely by Etisalat, all other providers saw a decline over this period.

“There were 20,370 subscribers to leave their provider in September 2015, marginally more (0.10 per cent) than the number to join new ones. As for every month since April 2014, MTN was the provider to lose the most subscribers, losing 12,259, or 60.18 per cent of the total loss.

Etisalat was the network to lose the fewest subscribers, as well as benefiting the most from porting activities. They lost only 1,264 subscribers, which comprises 6.21 per cent

of the total amount of outgoing porting activity, significantly less than the share of 16.07 per cent of the total number of subscribers that Etisalat accounts for”.

Net Porting Activities “Comparing the incoming porting activities with the outgoing, emphasises the extent to which Etisalat benefits, and MTN loses out from such activities. Airtel and Globacom were more or less balanced in September 2015; Airtel gained slightly more subscribers than they lost; a net gain of 1,712, and Globacom the reverse (a net loss of 1,707).

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Franklin Alli Ifeyinwa Obi Rosemary Onuoha Nkiruka Nnorom CONTRIBUTORS Princewill Ekwujuru Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

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Group Business Editor Deputy Business Editor Energy Editor Asst. Business Editor Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Energy Reporter Industry/Agric. Reporter Maritime Reporter Insurance Reporter Capital Market Reporter

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Vanguard, MONDAY, FEBRUARY 8, 2016—33 Send Opinions & Letters to: opinions1234@yahoo.com

en yyear ear e yyest est erda Beko:: TTen earss lik like esterda erdayy

B

EKO Ransome-Kuti was the unarmed general of the people who led them in countless campaigns against the perpetuation of military rule and for the enthronement of democracy. In the course of those struggles, he was dragged from his office or the streets and detained, several times. Imprisoned in the Kirikiri Maximum Prison, charged to court countless times, and when he remained unbowed, the Abacha regime decided on a final solution; his elimination. So he was charged with coup plotting; he did not get the death penalty but was awarded life imprisonment. He survived the harshness of the Kaduna Prison.

Although he looked frail, Beko had a heart of steel; endless attacks by military regimes could not conquer him; what did, was cancer on February 10, 2006. In two days, there will be various programmes to mark the tenth commemoration of this medical doctor, human rights crusader, unmatchable champion of mass street protests, consummate mobiliser and patriot who will never die in our hearts.

Beko, or BRK as many called

him, or Doki Oloye, as I called him, was a well-known figure when I was young given his pedigree and activism. His grandfather, Reverend Canon J.J. RansomeKuti was so good singing, that he was known as the Singing Minister. His father, Reverend Israel Oludotun Ransome-Kuti on July 8, 1931 co-founded the Nigeria Union of Teachers (NUT) Africa’s largest professional group and trade union. He was NUT founding president and remained in that position until he retired 23 years later. He was principal of Abeokuta Grammar School for 22 years.

His mother, Mrs. Francis Abigail Olufunmilayo RansomeKuti, nee Thomas, was one of Nigeria’s leading nationalists who fought for the country ’s independence. A woman activist, she led women in 1949 against the powerful Alake of Egbaland, Oba Ademola II who she accused of being tyrannical and kowtowing to British colonialists.

The King was forced to abdicate.

Beko was one of three famous brothers. The eldest, Professor Olikoye Ransome-Kuti was Health Minister who left an indelible

mark by helping to build the Primary Health Care System. His elder brother, Fela Anikulapo-Kuti was the famous anti-imperialist musician who created the Afro Beat music.

I first met Beko in 1983 when on behalf of the Nigeria Medical Association (NMA) he addressed a press conference in Lagos. We had a brief argument at that conference, and hit it off as friends and mentor. Two years later, he was involved in the doctors strike for a better funded health system, he solicited my assistance to present the doctors case in the media.

Along with some doctors, he was arrested and detained without trial at the Kirikiri Maximum Prison.

My main collaboration with him started in 1988 when with some activists like Lanre Arogundade, we sought his assistance to set free a fellow activist, Femi Aborishade who had once again been detained without trial. Beko not only joined, but also gave the Free Femi Aborishade Campaign Committee, office space. The name was later changed to the Committee for the Defence of Human Rights (CDHR) with

Although he looked frail, Beko had a heart of steel; endless attacks by military regimes could not conquer him; what did, was cancer on February 10, 2006

Beko as president.

In 1990, he was Secretary of the National Consultative Forum (NCF) which organised the National Conference designed to force the General Babangida regime out of office. The Forum had leaders like Tanko Yakassi, R.B.K Okafor, Kola Balogun, Frederick Fasehun and Senator Mahmud Waziri with the unforgettable lawyers leader, Alao Aka-Bashorun as chair. Uche Chukwumerije was Publicity Secretary, I was the Assistant, while Femi Ojudu, later a Senator, was Beko’s Assistant.

The regime through its Attorney General, Bola Adesumbo Ajibola repeatedly announced that if we went ahead with the Conference, we would be jailed a minimum of five years each. We went ahead, with Conference chair, Professor Adeoye Lambo leading us, but the regime preferred to abort the Conference than seek a confrontation.

The NCF was enlarged in 1992 to bring in more groups especially from the Civil Society, and renamed the Campaign for Democracy (CD) which became the Babaginda regime’s nemesis following its June 23, 1993 annulment of the Presidential Elections. Beko was the CD chair person who led the pro-democracy protests from the front; ever pushing forward, refusing to back down even on occasions we were faced with armoured cars and gun totting soldiers and policemen.

On July 6, 1993 the second day of the pro-democracy protests, a long convoy of military trucks led by then Chief of Army Staff, General Sani Abacha rolled through the streets of Lagos shooting human beings at sight. I had the task of

Optimism as panacea tto o economic realities

By Roberts Orya

A

S widely acknowledged, the ‘old normal’ of high oil prices – oil prices at $100.00 per barrel and above – has given way to a ‘new normal’ of prices well below this range. The 2016 crude oil price outlook is very gloomy. The most authoritative optimistic price outlook for the product in 2016 is by the International Monetary Fund, which forecasts $42.00 per barrel average price. Equally, the 2017 oil price outlook is also not much expansive. Quite clearly, therefore, Nigeria, like all other oil exporting-countries, are having to make fiscal and monetary adjustments in response to this reality.

The administration of President Muhammadu Buhari recognises this immediate need for adjustment. For instance, unlike Russia which budgeted on $50.00 a barrel price for oil in 2016, the Benchmark Price for oil in the Nigerian budget proposal is $38.00. This tends to counter the argument that Nigeria’s 2016 budget is overboard on oil price optimism.

But this is by the way.

Right from inception of the administration last May, when the Brent Crude was still selling at a decent price range of $55 to $60.00 a barrel, President Buhari signalled his preparedness to move forward the agenda of structural diversification of the Nigerian economy. Moving in this direction, the 2016 budget proposal seeks to stimulate investments in infrastructure, agriculture and solid minerals. The resolve to also increase tax revenues and build social safety nets are sure signals that the government, indeed, wants to decouple the economy from oil dependency.

The implementation of this bold plan is critical in moving beyond the rhetoric of structural transformation of the economy to its actualisation. Most oil producing economies of OPEC (Organisation of Petroleum Exporting Countries) were also stuck in the rhetoric of economic

C M Y K

diversification. High crude prices and the accruing huge revenue paradoxically bred complacency and lacklustre commitment to policy actions.

Nonetheless, economic diversification requires funding. The cumulative gain from last ten years of high oil prices was the fillip we should have seized to make much more progress with this agenda. But in practice, it didn’t work out like that. Perhaps, one could say it hardly works out like that.

What we didn’t do when petrol dollars was a deluge, we now must do with historically low oil prices and historically low oil revenue for Nigeria. The Nigerian Export – Import Bank had been talking up the imperative of non-oil sector growth during the last season of high oil prices. For us, oil sector-led growth is a jobless growth. It is also pro-cyclical; the potential to expose the country to the current brutal external shocks was always there.

Making the transition The adjustments we need to make as a country now are pointedly two-fold. We have to curb imports by boosting domestic production. And we have to develop local capacity to produce non-oil value-added products for export. We no longer have the benefit of high oil price to delay further actions on either of these. So, here is the rub. We have to start making the adjustments and the transition now albeit in the middle of volatile global market conditions and unpleasant domestic economic situation arising from a sharp decline in government revenue.

Some analysts believe we can make cosmetic tweaking of market policies to, in

We have to defeat pessimism and embrace our common economic future with optimism in order to bring about the change that we desire

effect, keep the old order in place. In this regard, the Central Bank of Nigeria (CBN) has come under great pressure to lift the rein on importation by being more accommodative with its foreign exchange policy. While it is true that the capital controls may have inadvertently impacted some activities negatively – and happily the President and the CBN have promised to continue to fine-tune the foreign exchange regime – import substitution and diversification of export base have no viable substitutes for long-term performance of the Nigerian economy.

Yes, this adjustment will not be easy. It would mean near drastic lifestyle changes for even people who have the naira to continue indulging in their foreign taste. For others, it would impose the need to reinvent their businesses and commercial sourcing.

Yet, for everyone, immediately, it could mean a squeeze and an economic discomfort.

The inconvenience will not last forever.

But it would last in the period that we all have to make the psychological adjustment.

Recent monetary and fiscal policydecisions will have to penetrate the system with the desired effects. Financial institutions would have to respond positively to the policy priority of improvement in real sector and SME funding. We also have to bring about significant expansion of non-oil exports. In spite of the current personal discomforts and market turmoil especially in the foreign exchange and equity markets, opinions are converging that, finally, we have reached a critical turning point in economic management in our country. This portends to be for good.

Help on the way The CBN upheld its Monetary Policy Committee decisions of last November at its January meeting. The main reason would be to allow the banks to respond to the November decisions, which initiated a process of injecting additional liquidity in the banks. This was by way of reduced Cash Reserve Ratio, from 25% to 20%. This

leading teams to pick corpses and the injured. We counted 118 persons murdered in that rampage, most of them shot in the back, which indicated they were running from their murderers. But rather than be cowed, Beko asked us to reoccupy the streets the next day to show that a people united, can never be defeated. He was picked up with other activists like Gani Fawehinmi and Femi Falana and detained without trial.

When the Ernest Shonekan Interim Government contraption was erected following the August 27, 1993 forced exit of Babangida, Beko led more mass protests until it was cleared away by the Abacha coup. It was this coup that led to endless disagreements between the Beko-led pro-democracy groups and Chief Moshood Kashimawo Abiola, the winner of the annulled Presidential Elections. Abiola naively thought he could do business with Abacha and that in fact, the coup was staged to deannul the elections and restore his mandate.

On one occasion when Beko led us to confront Abiola on his public romance with Abacha, the latter told us that Abacha was a dwarf, and to greet a dwarf, you have to bend down to his level. Beko responded that you can put a dwarf on a pedestal and greet him, rather than bend to his level. He was a moving spirit in the National Democratic Coalition, and in the post-military era, was Co-chair of the Labour and Civil Society Coalition (LASCO) which was quite active in organising the antifuel price increase protests.

Beko did his duty to country and humanity. It is an historical privilege to have known and worked closely with him.

liquidity, estimated above N1 trillion, would filter into the system only through lending to real sector businesses and Small and Medium Scale Enterprises. These are the sectors that will underpin the strength of the Nigerian future economy.

This targeted credit boost, however, requires the banks to develop additional risk management capacities and new credit products. Some of such products have started to reach the market, like the one that now wants to help SMEs improve their capital assets. Such facilities would improve operational efficiency and outputs of domestic producers and manufacturers.

CBN and NEXIM Bank collaboration The Nigerian Export – Import Bank, which has the responsibility for promoting non-oil exports, is scaling capacity to intermediate external sector revenue generation. One of our latest activities include a collaboration with the CBN to create additional funding resources for Nigerian export manufacturers. This has led to the creation of a new N300 billion Export Stimulation Fund that will lend at 9% interest rate.

This fund targets immediate impacts. Our quick-win strategy is to expand the businesses of companies that are already exporting. We will give them funding to produce and export more. This facility is in line with the fiscal outlook of the Federal Government, which requires helping the private sector to generate additional $2 billion in non-oil exports in 2016.

Inadequate financing, according to the CBN, had led to the drop in government’s non-oil export revenues from $10.53 billion in 2014 to $4.39 billion in 2015. Nigerian export manufacturers, like other critical stakeholders in the economy, need to step forward and embrace government’s efforts.

At NEXIM Bank, we look forward to working with Nigerian businesses that would help rebalance our economy more in favour of domestic production and non-oil exports.

*Mr. Orya, is MD & CEO of Nigerian Export- Inport bank.

34—Vanguard, MONDAY, FEBRUARY 8, 2016

W

HEN I first saw the figure on newspaper headlines, I thought the proverbial “printer ’s devil” had made a media round as the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu recently did. But, of course, though the “printer’s devil” can do and undo, it does not have the power to visit more than one newspaper house and cause them to portray wrong figures on the same issue same day. It has since turned out that media houses quoted the man correctly, from a speech he authored, signed and read by himself.

The man who made this “shockumentary” piece of disclosure is the foremost authority in President Muhammadu Buhari’s war on corruption and recovery of alleged looted public funds. His name is Abubakar Malami, a Senior Advocate of Nigeria (SAN); the Honourable Minister of Justice and Attorney General of the Federation. His office supervises the activities of the EFCC, and he has the power to specifically ask the anti-graft czar to go after anyone or drop any case concerning anyone.

Last week, Malami addressed the First Annual Conference on Financial Fraud, Cyber Crimes and Cross-Border Crimes which held in Abuja. He told his audience that the EFCC had recovered “över $2 trillion (about N400 trillion at current exchange rates)” looted from the national treasury by criminal gangs and their cohort in public offices. The conversion of the Dollar to Naira values at the current (official)exchange rate was an affirmation that he meant USD, not Zimbawean Dollars, ZWD, (which currently goes for 1ZWD=0.00276319usd!)

Now, anyone can make a mistake.

Maybe it was a mistake – a “printer’s devil”? The story is one week old today.

No one from the office of the Attorney General of the Federation has called attention to it as a mistake, offered the right figures and apologised to Nigerians. So, I rule it out as a mistake.

I take it as the information the AGF intended to feed us with.

Let’s look at that figure very well – two trillion US Dollars. So far (to the best of my knowledge at the time of writing this piece on Thursday, 4th February 2016) only Vanguard newspapers have raised an eyebrow on this figure. Vanguard was able to establish that the total amount of money that Nigeria had earned through its oil wealth from 1958 when the first commercially viable oil well was struck in Oloibiri, (today’s Bayelsa State) is 98

Malami and his bogus $2trn trillion Naira. If you add it to revenue from other sources, the figure still comes to below 110 trillion Naira or just about $500 billion. Since we are talking about “looted” money that has been “ recovered” by the EFCC, Malami would have us know that EFCC has recovered more “looted” money than the total sum of revenue that the country has ever earned as revenue!

You see, even the whole of Africa does not have two trillion US Dollars. Africa, with an estimated population of 1.1 billion people, is rated as having a nominal gross domestic product valued at $2.39 trillion.

The truth of the matter is that if Nigeria sees two trillion dollars, it will collapse and faint, as Justice Ovie-Whiskey claimed he would if he saw one million Naira way back in 1983. Only countries like USA, Japan, China and, perhaps, Germany can speak in terms of trillion dollars.

If, indeed, EFCC has recovered such a mountainous heap of money, the implications will be obvious. We would

If EFCC has recovered any amount of money, it is nothing close to what the AGF is bandying. EFCC is sure to deny the figure if put to task. So, my conclusion is that it is either the AGF does not know the meaning of Two Trillion Dollars or he is lying to us

not be talking of “ëmpty treasury” anymore. We will no longer need to borrow a paltry three trillion Naira to fund our 2016 budget. Buhari will have more than enough funds to fund his social security campaign promises and we will not have to bother about the plunging prices of oil in the international market. If EFCC has recovered any amount of money, it is nothing close to what the AGF is bandying. EFCC is sure to deny the figure if put to task. So, my conclusion is that it is either the AGF does not know the meaning of Two Trillion Dollars or he is lying to us.

I find it difficult to accept the first possibility – that Malami does not know the meaning of “Two Trillion Dollars or 400 trillion Naira”. A lawyer of nearly 30 years experience and Senior Advocate of Nigeria? It is impossible!

Do we then settle for the second possibility – that he lies to us? What else could it be, since he has not called to say he made a mistake? If the second option is the intent behind this incredible disclosure, I will not be too surprised, given the track records of the present administration.

Just the other day, Buhari’s Minister of Information, Lai Mohammed, called a world press conference and grandiloquently announced that 55 Nigerians stole N1.34 trillion in eight years. He did not name a single soul or entity to buttress his claim. He merely listed the categories to which the alleged looters belonged. He fed the public with worthless piece of information obviously concocted for its sensational value. It seemed that Lai Mohammed just sat down and compiled figures. Not to be outdone, Malami also sat down and compiled his own. Do these people think all of us are dummies?

It was the same Lai Mohammed who went around telling Nigerians that Boko Haram had become “so degraded that

they can no longer launch attacks”. He added that, in fact, Boko Haram had been “technically defeated”. What is “technical defeat”? Is it the same as “technical knockout”? If a boxer is technically knocked out, he has lost the fight and the bout is over. If Boko Haram was technically defeated, how were they able to launch flash attacks in Adamawa and Borno State, three of which took place in Dalori and Bulabulin Umarari outside Maiduguri and Muna Garage inside Maiduguri, a few kilometres from the 7th Division Headquarters of the Nigerian Army? Buhari technically defeated Boko Haram in December 2015 only to lament in January 2016 that the terrorists were “embarrassing” his government?

The game of the present administration is becoming obvious even to the unwary.

They are bringing out all these real and imagined figures and half-truths to completely de-market the main opposition Peoples Democratic Party (PDP) and render it incapable of challenging Buhari when the president bids for a second term in office.

After eight months in power, the tactic is wearing thin, and what it conceals is becoming visible. There is no substitute to visionary leadership, good governance and respect for the rule of law, which the Buhari administration is severely short of. Resorting to dissemination of deceitful information will always boomerang in this age of the Internet.

Those with ears let them hear.

Oyegun mourns the loss of oil states We have lost very important resource-rich states to the PDP. No matter how crude oil prices have fallen, it is still the most important revenue earner for the country – Dr John Odigie Oyegun, National Chairman of the All Progressives Congress (APC).

OU can see why the Directorate of State Services (DSS), EFCC and other state agencies of coercion and harassment were sent to intimidate legal workers, witnesses and INEC officials in Rivers and Akwa Ibom, with the latter invaded by state operatives in search of “ärms” before the Supreme Court came to put everybody back where they belonged.

Thank God for Separation of Powers!

Y

OPINION Ekwunife: As ugly as it gets

By Michael Egbejumi-David

M “

OST importantly, our deep concern is her record which showed that she dumps political parties at will, leaving the parties in its wake factionalised - from the Peoples Democratic Party to All Progressives Grand Alliance, to Progressive Peoples Alliance, back to PDP or vice versa and now to APC. She is more or less a fair-weather-hen.”

Ouch!

Those are not my words. That was the verdict delivered by the All Progressives Congress (APC) Senatorial Screening Committee a couple of weeks ago as it rejected the candidacy of Mrs. Uche Ekwunife on it party’s platform for the Anambra Central Senatorial District.

Sad to say, Ekwunife had it coming.

Last month, a Court of Appeal had annulled Ekwunife’ election as a Senator. The court ordered that a fresh election be conducted within 90 days. Madam has been scrambling since then to return to the Senate by fire, by force. Ekwunife had won a seat in the Senate as a Peoples Democratic Party (PDP) candidate, but something funny happened and the lady refused to return to the party - or vice versa.

Well, let’s hear it from madam herself: “My good people of Anambra Central, the outcome of what we witnessed was a conspiracy between some elements in PDP and the State Government who were panicking over what they referred to as my rising profile.”

Strictly speaking, this is not exactly true. Mrs. Ekwunife bolted the PDP because that party advertised in four national newspapers that it would not participate in further political elections or congresses including the Anambra Central C M Y K

Senatorial election re-run until its National spokesman, Olisa Metuh, who was back then still grooming his now luxurious beard within the confines of a lonely cell in Kuje prison, is released. Nigerian politicians – especially Mrs. Ekwunife - don’t play that kind of game. Party primaries are time-bound; so the lady quickly moved on.

Before she moved on to another party however, Ekwunife had to tidy up some loose ends. She claimed, “...some leaders from South East called me on phone and said that since they have nullified the election and requested for fresh election, why don’t we use this opportunity to play national politics?” Hmm. Also, Ekwunife had to reach out to the APC. You see, whilst previously campaigning for the Senate as a PDP candidate, Ekwunife happily referred to the APC as a ‘terrorist party.’ She had since apologised to the APC. She said she was only joking when she made that comment.

She then added the coup de grâce: ”It is true some of us did not give our support to APC in the previous election …We Ndigbo cannot continue to be relegated from the national bargain which we are co-owners. This is the time to join forces with the Federal Government to move our country forward.” Hmm, again.

I’m sure you now get the full Mrs. picture. However, for the record: In just seven years, Mrs. Ekwunife Ekwunife changed political parties four changed times. She was another average Jane, living a normal quiet life political somewhere in Awka. Post 1999, Ekwunife was appointed a bank parties four manager. Within a short time, the times small bank ran into financial difficulties. Curiously, as the

bank’s fortune nose-dived, Ekwunife’s skyrocketed. Before you could say ‘external audit,' Ekwunife left the struggling bank for politics. She joined forces with then governor, Chinwoke Mbadinuju, and the formula was repeated: as Anambra financial resources dwindled, that of Ekwunife and Mbadinuju soared.

Not a lot of people were aware that when Chris Ngige, a former half-term governor of Anambra state was abducted, smuggled into the boot of a small car and held for over five hours in an audacious Igbo-made coup in Awka in July 2003, Ekwunife’s was the only head-tie sighted among the jubilant Chris Uba crowd.

By 2007, Ekwunife was in the House of Representatives courtesy of the PDP. You don’t need me to tell you that she signed her name then as Hon. Dr. (Mrs.) Uche Ekwunife.

‘Chief ’ came afterwards. Four years later, her nose to the ground, she followed the political wind of change in Anambra, dumped the PDP and sailed into the All Progressives Grand Alliance (APGA). Before her election into the Senate last March, she had twice contested the governorship of Anambra state under PPA and APGA and lost both times.

Now she’s tried to follow another wind of change back to the Senate, but the APC screening committee has only gone and said mba.

Where Ngige could not sweep well with an APC broom because the people are not too sold on APC’s seemingly segregationist policies, Ekwunife was desperate enough to want to try. Alas, even the APC says Iyom is not good enough for them.

Mrs Ekwunife now finds herself effectively stranded. What’s a gal to do...?

Dr. Egbejum David, a medical practitioner, wrote from demdem@hotmail.co.uk

Vanguard, MONDAY, FEBRUARY 8, 2016—35

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36—Vanguard, MONDAY, FEBRUARY 8, 2016

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Vanguard, MONDAY, FEBRUARY 8, 2016— 37

38—Vanguard, MONDAY, FEBRUARY 8, 2016

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Primate Ayodele cautions Oshiomhole on successor •insists Buhari, Tinubu mustn’t fight •Says Shekau-led Boko Haram no more

By Bashir Adefaka

P

RIMATE Elijah Babatunde Ayodele, Founder and Head of Inri Evangelical and Spiritual Church, Oke-Afa, Lagos, lately has been acknowledged for his prophecies that have come to pass.

One of them that has come to pass is that which was reported in Leadership Newspaper of Sunday, November 8, 2015 on page 67, that, “The Nigeria Under-17 football team will lift the Junior World Cup,” and that, “A former Chief of Defence Staff will •Primate Ayodele face probe. He had said then, ‘I foresee the removal of the EFCC boss,” corruption fight. He is relying much on published on page 43 of Daily Champion America but these are the people that will of December 24, 2014. Now the Under-17 bring down his government at the end of football team has lifted the Junior World the day. And we have to pray that we don’t Cup, former Chief of Defence Staff, Badeh, lose any statesman. Shagari, Shonekan, and other ex-service chiefs are currently Ekweme must be very prayerful. There is facing probe. Even EFCC chairman at the still more to be said about corruption but time, Ibrahim Lamorde has been removed the man in charge of the anti-corruption and replaced with Ibrahim Magu. fight (Ibrahim Magu) will not be Primate Ayodele, who is celebrating his appreciated. birthday upper Sunday, has kick-started Buhari’s 2019: “Buhari’s 2019 will be his prophecies this year by warning frustrated. People in APC will frustrate Governor Adams Oshiomhole to tarry a his chances in 2019. There will also be while in matter of his choice of successor frustration from outside his party. The way in the coming Edo State governorship out for Buhari to run in 2019 is that he election. He said, “Adams Oshiomhole of needs prayers because I have not seen Edo State should pick his successor from him declaring for 2019. Buhari must not within his cabinet. allow any rift to come up between him That person he wants to support will give and Bola Tinubu. Let’s pray against fire him problem in future. He should not even outbreak. Let’s pray against emergency pick his deputy, but should pick from cases in our airports. among his commissioner if he really wants We should pray against attempt to bomb to be able to leave behind an enduring any of our airports. The Chief of Defence legacy. I see that Obaseki that he is Staff, Chief of Army Staff, Chief of Naval supporting currently will cause havoc for Staff must be very careful and watchful the party much later. Even if he wins because I see challenges before them. election, he will cause problems for the Rotimi Amaechi must be watchful because party and then Oshimhole will have a lot of blackmails and problems within his of challenges.” state. PDP Governors’ Forum will be in Ayodele, who had predicted that for many challenges because of Governor Nyesom Wike of Rivers would misconducts and there will be deadlocks surmount his election-based troubles only among the APC Governors’ Forum. with strong efforts and prayers, had also predicted success for Abia and Akwa Ibom Revamping states governors even as he insisted that the economy not all the governors of Nigeria would finish their terms. He Some states will break down completely also predicted the loss due to economic issues and they include of an NFF official and Kwara, Kogi, Imo, Anambra, Kaduna, that journalism Sokoto, Jigawa, Ekiti, Osun and Oyo. community would There is still going to be sack in the lose a member, which government parastatals and of course have all come to pass.

CBN. Keystone Bank, Access Bank will On politics, he said, still lay off some of their staff. So, Buhari “The more people are needs a lot of prayers to be able to revamp decamping to APC Buhari the economy very well and put it back in the more the party will order. I see stocks will drop. have trouble. APC needs a On Boko Haram, Niger Delta, CBN, should not give room lot of Fashola and NFF now to new people The military will still be able to hold more because they are prayers to Boko Haram leaders and as I have always going to cause be able to said in recent times, the real Shekau-led opposition within the Boko Haram is no more. Then the Niger party and break APC revamp Delta militants will still cause problems and leave. APC is in the and we have to be watchful to ward off trouble now and that explosives on our pipelines. Not all the economy is the more reason governors will finish their term. Buhari, Buhari must be very very well within his cabinet, will have gang up. watchful.

The and put it Fashola must be careful so that people corruption he is surrounding him will not create problems fighting is the best so back in for him. Apart from that, I see some far but there will be order changes in the Army, Navy, even police. mistakes in the C M Y K

Buhari as good news for Europe

By Garba Shehu

M

ARTINS SCHULTZ, the President of the European Parliament minced no words in describing why Europe is enamored of our President, Muahmmadu Buhari, so much as to give him the honor of addressing the continent’s legislative arm. The big endorsement President Buhari got is on account of the outstanding wars he has waged so far on corruption and terrorism, wars that have been described as templates for Africa and the rest of the world.

Increasingly, he is admired for delivering good governance humbly and honestly.

This given opportunity, as many have noted, was the first time a Nigerian President - and the second African - had addressed the EU parliament. In his opening remarks, President Buhari did not miss the opportunity of acknowledging this recognition. “I am honoured and humbled by my choice to address this occasion,” he told his receptive audience. Of recent, the EU countries have proved to be reliable strategic partners of Nigeria. Historically though, Nigeria – EU relations have been cordial, except for the period between 1993 –1998 when the EU imposed sanctions on the country over the June 12, 1992 election crisis and then the outrageous killing of the activist writer, Ken Saro Wiwa. However, the relations fully normalised from 1999, following the restoration of democratic governance in Nigeria.

The EU has been a pillar of support for the consolidation of democracy in Nigeria, having sent high-powered election monitors to observe all national elections in the country since 1999.

The EU monitors’ assessment of the successive elections held had served as a barometer for adjudging their success or failure. By supporting our democratic process including the election that led to the transfer of power from a sitting government to an opposition political party for the first time in our political history, the EU and the international system have given a new hope for Nigeria. In acknowledging the support of the EU especially in 2015, the President told the parliamentarians that: “Nigerians noted the huge contributions Europe made towards the realisation of acceptable, free and fair elections in our country. Today, I will tell this August gathering that the E u r o p e a n investments are beginning to bear fruits. I am one of the returns-on-the The action E u r o p e a n investments of a of Nigeria’s d e m o c r a t i c former Nigeria. Indeed, the present regime is President, the product of Goodluck democratic choice consciously made by Ebele the people of Jonathan, is Nigeria through the commendable ballot box.”

•President Buhari

In what was perhaps the President’s longest speech outside Nigeria so farhe took 40 of the 45 minutes allotted to his address-he spoke about those hairraising moments when Minister Orubebe seized national and international attention by stopping further announcement of presidential election results at the National Collation Centre.

Clearly, if there was any moment that the last administration came close to abrogating the nascent democracy, this was it. “The drama that took place at the National Collation Centre was a momentarily frightening situation,” said the President, as it was “unleashed by desperate agents of the status quo, with the purpose of maintaining their grip on the national resources for their selfish interests. “The maturity and patience, with which the officials of the Independent National Electoral Commission (INEC), under Professor Attahiru Jega, handled the matter, saved the struggle for democracy and the huge European contributions. We must thank God that Nigeria survived this drama.

Electoral defeat “As I have stated in other fora, the action of Nigeria’s former President, Goodluck Ebele Jonathan, is commendable. For the first time in the history of Nigeria, a Presidential Candidate and sitting President, conceded electoral defeat in defiance of calls by strong forces and agents and benefactors of the regime not to do so.” The Europeans have equally been very supportive of Nigeria’s war against terror and the ongoing efforts to rehabilitate the victims of the violence in the North-East.

It is noteworthy that the Organization has remained sympathetic and supportive of Nigeria in its efforts to tackle the menace of Boko Haram as it did support the country to tackle the Niger Delta crisis. In the course of these meetings, the EU acknowledged Nigeria’s counter-terrorism efforts and pledged continuous support to the endeavour. As part of such assistance aimed at tackling the root cause of the Boko Haram insurgency in the North, the EU pledged at an earlier meeting to provide intervention targeted at the North to reduce poverty and empower the youth for gainful employment to wean them off the tendency, as was done in the case of Niger Delta in the wake of militancy in the region.

As a leader with a genuine interest to work for the greater good of all peoples and not just about self or national interest, President Buhari showed his acute awareness of the problems, not just facing his own country but Europe as a whole.

To be concluded

40—VANGUARD, MONDAY, FEBRUARY 8, 2016

Why people are anxious about Buhari — Mamora SENATOR Adeleke Olurunnimbe Mamora medical doctor turned politician was speaker of the Lagos State House of Assembly at the advent of the Fourth Republic in 1999 and followed up his legislative strides with two successive terms in the Senate where he largely imprinted upon the populace through his principled and punchy interventions. A chorister in his local Lagos Baptist church, Senator Mamora who was the deputy director of the triumphant Buhari Presidential Campaign Organisation, in this interview responds to assertions of misuse of resources by the National Assembly and the alleged selectivity in the fight against corruption among other issues.

By Dapo Akinrefon

F

ORMER President Olusegun Obasanjo recently wrote a letter to the presiding officers of the National Assembly faulting the proposal for the purchase of vehicles and other sundry matters relating to the Assembly. What is your take on the stance of the former president?

Let us look at this issue from certain perspectives. The legislature is a separate arm of government, it has its own procedures, operations and ways but all these will still be under the aim of due process and must be in line with best practices.

I think what will appear to me is that people will want to be sure that due processes of transparency and accountability are brought to bear in the management of affairs across board in government.

Misunderstood and misrepresented Of course, when you talk of government, it has three components (the executive, legislature and judiciary). I believe that the legislature has been unduly misunderstood and misrepresented a lot of times and, that is what my experience shows, to the extent that it has become the whipping boy of the arms of government.

This is rather unfortunate because it is the legislature that really represents the concept of democracy where every decision is taken through a majority process or decision. It would appear that over the years, it has become the fall guy of the arms of government. Everything is just thrown at the legislature and I think that it should not be that way.

I have not looked at the arguments on both sides but all I am saying is that the legislature has been unduly hammered at times. Having said that, I do know that it is the Revenue Mobilisation and Fiscal C M Y K

Commission that determines the emoluments of all public holders.

I think what we should be looking at is not just the legislature. Are the funds in tandem with RMAFC provided for them? I think that should be issue? Once it is in line, then, there should be no cause for any problem because all these things have been stated.

It is just a matter of following what has been laid down and approved and ensuring the execution of what has been approved by relevant provisions of law or through a due process.

That is all, this is the issue.

Whether vehicles or not, I know that vehicle allowance has been provided for. What I think is not right is to demonise the legislature.

There are many imperfections in our governance system which cut across the three arms of government.

While Chief Obasanjo is entitled to his personal views on issues in the polity, what should not be allowed is any attempt to demonize the National Assembly and make the institution the fall guy of the three arms of government.

Good governance The economic realities of the moment demand cost cutting which should be across board and not selective. This should be based on due process as constitutionally vested in RMAFC. Is that not what the former president is trying to do?

I am not saying that but my understanding on the face value is that the former president is asking for accountability and transparency but the focus should not always be on the National Assembly alone. We should understand the issues and not try to demonise the legislature.

How many times have we asked: what are the things available to the minister who is

•Mamora: Obasanjo is entitled to his personal opinion

unelected? The focus is always on the legislature but transparency and accountability are components of good governance and it should be at all levels and not just hammering at only one arm of government in a manner that will portray that arm of government as the weeping boy of as the fall guy. That is the point I am making.

Do you agree with those who say that the administration is using the investigations into the reported misuse of $2.1 billion earmarked for arms in the office of the National Security Adviser to fight a selective war against corruption?

That statement is a fallacy.

Why do you say that?

The former governor of Zamfara State is from which party? Is he not an APC senator? There are others like that. I think it is just the question of which cases have the anti-corruption agencies concluded to be brought before the court? Don’t forget, there is a procedure that must be complied with before a case is brought before the court.

Assuming but not conceding in any way that it is one sided, for those that cases have been raised against, was there any one arraigned that did not have a

AKEREDOLU

prima facie case established against him? There is no selectivity in this thing and that is why I said it is a fallacy, it is a statement of convenience which some people will make.

Former President, Dr Goodluck Jonathan recently addressed a press conference but failed to address the issue of the arms scandal. What do you make of this?

Well, I would not be in a position to read his mind as to why he decided not address the issue but I can guess that it may be that the case is before the court and so, to that extent, it is subjudice. If that is his reason, it may be right to have done that.

Away from that, Cardinal Okogie, in his statement, said the president is running a one man show.

I do not agree. The way the constitution of the country is structured, makes it impossible for the president to run a one man show. We are not in a dictatorship, even in a dictatorship, the head of junta cannot even do it alone.

That is not true. The job at hand is too enormous for the president to run a one man show. If it were to be a one man show, there wouldn’t be ministers and Special Continues on page 41

Nigerians are bound to be anxious, I will not be surprised if they are not anxious because anxiety is part of human nature and I do not have a problem about that. It is just the fear of the unknown

VANGUARD, MONDAY, FEBRUARY 8, 2016 — 41

Why people are anxious about Buhari — Mamora Continues from page 40 Advisers.

The president has been meticulous.

The cardinal also maintained that the president is making corruption his only agenda.

That is not true, that president is not making corruption his only his only agenda. No, the party went out, during the electioneering campaign, and made promises to the people. The three major cardinal promises to the people were: to fight corruption, to fight insurgency and then, to fix the economy. So, the president is acting within the ambit of his promises to the people, of which corruption is a major aspect. That is not to say that the •Mamora: nation building is continuous process other aspects of his promises are being neglected. and parcel of the human nature.

But Nigerians are anxious What is important is that the goal is there Nigerians are bound to be anxious, I will which is being pursued. Don’t forget, we not be surprised if they are not anxious also have things we don’t have control over because anxiety is part of human nature and that is the fall in crude oil. It is just a and I do not have a problem about that. It challenge and an opportunity. is just the fear of the unknown. If the Painful as it is, it is an opportunity for us president does not fight corruption to now purpose the cause of diversification headlong, corruption will kill Nigeria and of the economy and that is why the that is the truth. president will always talk about the solid minerals sector and the agricultural sector.

Funding deficit These are the things to expect.

Are you a Tinubu boy as some of you in the budget have been tagged so?

(Cuts in) I do not think so. I have been a If the president and his administration are able to fight corruption to a standstill long political associate to Asiwaju Bola and retrieve money, then, we will not need Tinubu. He is a leader and my leader.

There is the assumption that there is a to borrow to fund the deficit in the budget.

Cold War between the former governor The amount of of Lagos State, Asiwaju Tinubu and the money out there is president more than enough To the best of my knowledge, I am not to fund the budget. privy to that.

It is a wise thing. If Just last week, the governor of Kogi the budget is well State, Mr Yahaya Bello was sworn-in funded, that will without a deputy, a first in the history of translate in the country. What do you make out of boosting the this? economy. If the It is novel and never been before, there economy is boosted, is always a first time, but it will form a of course, majority The process of developing our political system. of Nigerians will It is something we have look into and know smile at the end of economic the implications and the interpretation in the day. There will realities of terms of law because nation building is a be employment, the continuous process. industries will be the moment But does it not show a crack in your better. It will have a demand cost party? multiplier effect. cutting I don’t see it as a crack, don’t forget that Yes, because these when a citizen feels aggrieved, the citizen things are not which will be free to go to court. For me, it is just happening, that is should be testing the process and the law. The enough to give meaning of any law is not fully established people cause for across board until it is tested in court. That is the beauty anxiety but like I and not if democracy. said, anxiety is part

selective

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42—Vanguard, MONDAY, FEBRUARY 8, 2016

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46—Vanguard, MONDAY, FEBRUARY 8, 2016

Corruption: Amaechi, Ben Bruce clash T HE Minister of Transportation, Mr. Rotimi Amaechi and the senator representing Bayelsa East in the Senate, Senator Ben Bruce, were yesterday, locked in war of words over perceived political indiscretions.

The incident which was triggered by a tweet by Mr. Japhet Omojuwa resulted in namecalling between the two leading politicians, who belong to different political parties. Omojuwa had tweeted thus: “The reason I will never take people like Ben Bruce serious is because when they saw a leader (GEJ) do wrong, they kept quiet. Don’t be Bruce.”

In his response, Bruce took a cue from a statement President Muhammadu Buhari reportedly said that Nigerians were giving the nation a bad image by getting involved in questionable acts across the globe. “Your own minister spent N80 million on a one day dinner, yet it is your citizens you accuse of being c r i m i n a l s #IAmANigerianNotACriminal,” Bruce wrote on his twitter handle.

Feeling that the tweet was targeted at him, Amaechi, who was accused of spending N80m to host a dinner for Nobel laureate Prof. Wole Soyinka responded thus: “A coward who is not bold enough to name the minister that he alleged criminally spent N80m on dinner is unfit to sit in our senate chambers.”

Hitting back at Amaechi, Senator Bruce in an apparent innuendo sarcastically described the recent Supreme Court judgement which upheld the election of Nyesom Wike as Rivers State governor as a major setback for Amaechi. “When you have been Wike’d, you become wicked! But you will always be my beloved brother, no matter how much you transfer the anger on me,” he wrote on his page.

From the former Rivers State governor, came another scathing post saying: “I will not respond to innuendos. Be courageous, name the minister. We know you talk here & do ‘siddon’ look where you are elected to talk,” he said.

Telecom sector contributes N1.3bn to GDP in Q3 2015 •as 20,349 Nigerians changed networks in September due to poor services

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By Prince Osuagwu

HE Bureau of statistics has just released statistics quoting the telecom sector to have contributed a whopping N 1,385.85 billion to GDP, in real terms, at the end of third quarter, Q3,2015.

The figure represents 7.71 percent contribution and a relative increase from 7.57 percent the sector contributed to GDP by the same period in 2014.

The report also credited the recently launched Mobile Number Portability, MNP, for enabling about 20,349 Nigerians to switch service providers in September alone, due to poor telecom services. The agency while presenting the Q3 summary

report of the Nigerian telecommunications sector, stated that the subscribers switched among the four mobile operators, MTN, Airtel, Globacom and Etisalat.

However, the report credited the fourth and last entrant to the sector, Etisalat, for having gained more of the subscribers porting from other networks.

Analyzing the telecom sector contribution to GDP in the third quarter of 2015 the Bureau stated that “In real terms, the telecommunications sector contributed N1,385.85 billion to GDP in the third quarter, or 7.71%, a slight increase relative to the 7.57% contribution recorded in the third quarter of the previous year.''

UAE still ‘a safe haven’ for corrupt people —EFCC boss

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WO weeks after President Muhammadu Buhari signed a mutual legal assistance agreement with the United Arab Emirate (UAE) on the repatriation of stolen funds and extradition of indicted officials, Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), met with the UAE ambassador to Nigeria, Mahmud Muhammad Al- Mahmud, at his office in Maitama, Abuja. The EFCC chairman called for the strengthening of the existing relationship between Nigeria and C M Y K

UAE with a view to effectively tackling corruption in Nigeria and in Africa, saying corrupt persons still perceive UAE as “a safe haven”. He said, “the fight against graft requires the collaborative support of all and sundry, especially the international community for it to be won.” According to the EFCC boss, the present administration in the country is poised to recover the nation’s commonwealth looted and laundered in foreign countries by corrupt elements.

VISIT: L-r: Oba Adeyeye Enitan Ogunwusi, Ooni of Ife and Oba Adedotun Gbadebo Alake of Egbaland, when the Ooni visited Oba Adedotun Gbadebo, Alake of Egbaland and Oba Dr. Adedapo Tejuoso Osile oke ona Egba at his Ibara GRA residence in Abeokuta, yesterday. Photo: Wunmi Akinola

Nigeria sliding dangerously, says PDP

By Henry Umoru

A

BUJA- NATIONAL leadership of Peoples Democratic Party, PDP, has again raised alarm that the country under the leadership of President Muhammadu Buhari was sliding dangerously. The PDP also challenged the ruling party to address the disturbing challenges in the land and stop abusing Nigerian judiciary because things did not go their way.

Speaking at t h e thanksgiving s e r v i c e organized in honour of Rivers State G o v e r n o r, Nyesom Wike, in Port Harcourt, y e s t e r d a y, PDP acting National Chairman, Prince Uche Secondus, said it had b e c o m e imperative for the central government of All Progressives Congress, APC, to genuinely e n g a g e Nigerians to achieve peace to engender development.

Secondus, who led other members of the National Wo r k i n g Committee, NWC, of the party to the c e r e m o n y,

told the audience of top PDP leaders, including state governors and members of the National Assembly, that Nigeria was sliding economically and politically, with APC showing it had no solution in sight. He added that when APC took over power from the PDP seven months ago, the naira was exchanging for N160 to one dollar but noted that currently, the naira had suddenly dipped to N300 per

dollar under the APC government. The PDP leader, who charged the APC to face reality and engage the various stakeholders, including business and political leaders, to find a way out, described as dangerous to the polity, the continued abuse of judiciary and the use of military and other security agencies in purely political matters.

Vanguard, MONDAY, FEBRUARY 8, 2016 — 47

CHAN 2016: DR Congo 're champions T

HE Democratic Republic Of Congo won the African Nations Championship (CHAN) for a second time on Sunday, beating Mali 30 in the final in Rwanda.

The Leopards, coached

by Florent Ibenge (pictured), secured the title with two goals from the impressive Mechak Elia an a late Jonathan Bolingi strike.

DR Congo became the first nation to win the trophy twice, having won the inaugural CHAN tournament which is only open to footballers who play in their own local leagues - in 2009 in Ivory Coast.

At a packed Amohoro Stadium in Kigali, DR Congo enjoyed huge support from the crowd although it was Mali who started with more purpose with Mamadou Coulibaly going close twice with a couple of early shots.

But it was an exquisite individual strike from Mechak Elia which broke the deadlock on 29 minutes, to give DR Congo the lead.

His angled shot gave Mali keeper Djigui Diarra no chance, and set Ibenge’s side up nicely going into the break.

Elia again proved to be too much for Mali in the second half, scoring his second goal on 61 minutes. He dribbled past Diarra, placing the ball into an empty net.

That goal sparked mass celebrations in the stands amongst the hoards of DR Congo fans.

Mali tried to get back into the match, but failed to make the most of their

impossible Championship.

The former Juventus and Ajax Amsterdam midfielder has scored himself high, pointing out the Super Eagles have been beaten only twice since he took over from Stephen Keshi and went on a ten-game unbeaten run before losing to Guinea in Rwanda.

Oliseh said: “It’s been 14 games since I took over as Chief Coach of the Super Eagles. We have lost just one official game and one friendly game.

Nigeria scored 19 goals, conceded six. Eagles qualified for the group stages of the World Cup and we are still on track to qualify for the 2017 AFCON. So where is this failure that some of our critics are trying to sell to Nigerians.”

Continuing, the former

opportunities. Lassana Samaka missed a good chance ten minutes later, and the game was put beyond doubt when Jonathan Bolingi added a third for DR Congo 18 minutes from time.

Mechak Elia was given a standing ovation when he was substituted on 86 minutes, and the crowd sang out coach Florent

Ibenge’s name. Ibenge also guided the senior DR Congo side to third place at last year’s Africa Cup of Nations in Equatorial Guinea.

Earlier, Ivory Coast took the bronze medal, beating Guinea 2-1 in an eventful third place play-off match.

Ivorian keeper Abdoul Cisse played a key part in

the Elephants’ win, saving two penalties.

Guinea missed the chance to take an early lead when Ibrahima Sankhon’s spot-kick was saved by Cisse in the 27th minute.

Just four minutes later, Guinea gifted Ivory Coast the opener with an owngoal from the unlucky Mohamed Youla.

Costa's late strike saves Chelsea D

IEGO Costa snatched an injury-time equaliser to secure Chelsea a 1-1 draw against Manchester United and preserve the Premier League champions’ unbeaten run under Guus Hiddink.

Louis van Gaal described United’s performances against Derby County and Stoke City as “sparkling” and his side began Sunday’s game in dominant fashion at Stamford Bridge, though chances were few and far between in the first half. Kurt Zouma was carried off on a stretcher shortly after half-time with what looked to be a serious injury to his right knee and Jesse Lingard turned home in fine style just two minutes later to put the visitors ahead.

David de Gea made a handful of superb saves to keep Chelsea at bay in the reverse fixture at Old Trafford and he frustrated Hiddink’s side again, making terrific stops against Branislav Ivanovic and Cesc Fabregas in particular.

As a first Premier League win in seven over the champions for United neared, Costa pounced in the dying minutes to preserve Chelsea’s unbeaten run since Jose Mourinho was sacked, which now stands at 11 games in all competitions.

Continued from B/P national team captain said, “ Unless you mean that for Coach Sunday Oliseh and his crew to be successful they must win every match. Even the world Champions, Germany are not doing that, talk less of us that is a brand new team that we started building just for some months now.”

In a video message released on his website yesterday Oliseh said: “I am addressing this insanity that has befallen some of our critics and I call it insanity because you must be insane to start seeking a plebiscite on the future of the national team’s coach of Nigeria because we lost CHAN,”adding, “with all due respect, CHAN is probably the least important tournament that is held by CAF and it is a tournament that weighs more on the strength of the leagues against one another.

Abdullahi promises to revive NPA sports culture

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HE Managing Director of the Nigeria Ports Authority, Alhaji Habib Abdullahi has spoken of his administration’s intention to revive the forgotten sports culture of the organisation as well as encouraging sports programmes amongst the staff.

Alhaji Abdullahi disclosed this in Lagos at the weekend when he paid an unscheduled visit to the NPA sports club on Bode Thomas street in Surulere to inspect the newly laid tartan tracks and the renovated tennis courts.

The sports club apart from serving the interest of staff of the NPA, is also used as training ground by national athletes preparing for

•Abdullahi various sports engagement within and outside the country.

Accompanying the MD on the visit were Barrister Kabir Edwards, GM, servicom of the NPA, Mr Charles Okarogha, secretary NPA sports association and other officials of the association.

Kanu named in world legends list

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BLOCKING . . . Chelsea's Nigerian midfielder John Obi Mikel holds off Manchester United's midfielder Marouane Fellaini during their English Premier League match at Stamford Bridge. Match ended 1-1. Photo: AFP

HE International Federation of Football History and Statistics (IFFHS) have named Nwankwo Kanu in the top 48 legend of football worldwide.

IFFHS released the first phase of the list which includes Brazilian greats Pele and Ronaldo da Lima.

Notable Africans on the list include former World player of the year George Oppong Weah, Roger Milla, Rabah Medjer, Muhammed Aboutrika, Mohmud El-

Laporte’ll refuse Barcelona move

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THLETIC Bilbao defender Aymeric Laporte says he would turn down an offer to join La Liga leaders Barcelona.

Laporte made his debut for Athletic as an 18-year-old in 2012 and has been

Continued from B/P virus in one of his official assignments, camp sources informed that the former Juventus player has alleged occultic manipulations by his enemies on his life and has vowed to flee far from the country to where they could not fly to attack him.

“He is always scared in camp and suspicious of even members of his back room staff”, a close source to the team informed.

The source said that the outspoken coach allegedly confronted his staff and warned them that there were many witches and wizards who were trying to undermine the success of the Eagles.

“He warned those fond of putting their hands in their pockets before shaking him

persistently linked away from San Mames since establishing himself in the first team in 2013-14.

Manchester United and Barca are among the clubs reportedly tracking the 21year-old.

However, Laporte, able to

witchcraft to desist or keep their handshakes as he feared they touch objects concealed in their pockets before offering to shake him”, the source said. Also, the coach alleged that many of the people surrounding him do not believe in the success of the team as he claimed that they don’t rejoice when the Eagles score goals.

Beyond the trivial accusations of witches and wizards, Sports Vanguard also gathered that the coach had written to the federation to pay his outstanding N10 million accommodation fee as agreed in his contract(N5 million for 2015 and another N5 million for 2016) if they want him to reside in Nigeria as he said he would not stay in the hotels when the Super Eagles are not in camp.

play at centre-back and fullback, claimed he has no interest in a move to Camp Nou and hopes to remain in Bilbao for the foreseeable future.

•Kanu Khatub and former Bafana Bafana captain Lucas Radebe.

IFFHS were formed in 1984 under FIFA’s approval and they focus on archiving football records, statistics and records of associations across the globe.

against Kaduna Continued from B/P with the gaffer kicking against the choice of Kaduna, describing it as playing “AWAY on a home soil”.

Contrary to earlier reports, we can authoritatively inform that Oliseh who penned his disapproval to the NFF also alleged that the football authorities were imposing the use of Ahmadu Bello Stadium on him contrary to his contract that stipulates consultation with him over the choice of match venues.

The crucial game against Egypt would be played on March 23 with the return leg in Egypt four days later.

But a source from the football house disagreed over Oliseh’s choice of words in describing playing at Kaduna as “playing away on home soil. “I’ve never seen or

heard where playing in Nigeria is termed as playing away. That is provocative”, the source said.

The source reminded the former skipper of the Super Eagles that Kaduna was picked as venue for the Egypt match after the 2 - 0 home win against Chad in June 2015, a month before Oliseh was picked to succeed Stephen Keshi.

“He is only looking for excuses”.

Kaduna is gradually becoming a hotbed of controversy following Vincent Enyeama’s harsh words basically over security issues. The highest capped Super Eagles goalie was condemned by many. It did not take long before he fell out with Oliseh and called time on his international career.

Vanguard, MONDAY, FEBRUARY 8, 2016

Taekwondo: Nigeria crash out of Rio second round stoppage via the semi finals.

Olympics Uzoamaka Otuadinma kick in the mouth.

F

OR the first time in a long while, Nigeria Taekwondo will not be on display at the 2016 Rio Olympics as the four Taekwondo athletes that represented the country at the African qualifiers lost in

Oliseh flees Nigeria, accuses staff of witchcraft •Demands N10m for accommodation Stories by Tony Ubani

A

S the zero hour approaches for the must win double header AFCON qualifier against the Pharaohs of Egypt on March 23, Sports

•Oliseh

Olympic bronze medalist Chika Chukwu-merije raected yesterday,” “I thank the athletes as they put in 100% of their effort. Good luck nest time.

RESULTS CHAN Guinea DR Congo EPL: Bournemouth Chelsea

1 3

Cote d’Ivoire Mali

2 0

0 1

Arsenal Man United

2 1

Vanguard can reveal the real reasons why coach Sunday Oliseh may continue to tinker the Eagles from his base in Belgium.

After contracting a Continues on page 47

...Kicks against Kaduna as host of 2017 Afcon qualifier

..Says it’s impossible to win every match

S

UPER Eagles coach Sunday Oliseh has responded to critics who have been calling for his sack following the dismal performance of the national team at the 2016 African Nations Continues on page 47

and All Africa Games silver medallist Chinazom Nwosu both lost narrowly to Moroccan opponents.

Edwin Samson lost to a Senegalese opponent in a

•Green, NFF Technical C’mtee chairman

T

HE face-off between the Nigeria Football Federation, NFF and coach Sunday Oliseh over the venue for this month’s all important Nations Cup cracker against the Pharaohs of Egypt has deepened Continues on page 47

Congo win CHAN pg. 47

•CHAMPIONS: Congo DR players jubilate after scoring one of the goals against Mali in the final yesterday. Congo won 3-0

QUICK CR OSS WORD CROSS OSSWORD

TODAY'S PUZZLE

FRIDAY'S ANSWERS

Across 1 Shriek (6) 5 Debase (6) 8 Scare (8) 9 Ooze (4) 10 Toupee (3) 12 Managed (5) 15 Total (3) 17 Meadow (3) 18 Tear (3) 19 Spring (3) 20 Rascal (5) 21 Sort (3) 22 Cur (3) 24 Watch (3) 26 Had (5) 29 Stray (3) 33 Secure (4) 34 Story-teller (8) 35 Combined (6) 36 Pact (6)

Down 2 Dog (5) 3 Border (4) 4 Saying (5) 5 Thick (5) 6 Method (4) 7 Farewell (5) 10 Squander (5) 11 Clearing (5) 12 Freight (5) 13 Heathen (5) 14 Fear (5) 15 Malice (5) 16 Manufacturer (5) 25 Long (5) 27 Declined (5) 28 Heron (5) 30 Perch (5) 31 Adroit (4) 32 Paddle (4)

YESTERDAY'S SOLUTIONS Across: 1, Urge 4, Wit 6, Taut 8, Advent 9, Nobody 10, Had 12, Vogue 14, Learn 15, Tried 18, Appeal 20, Unison 24, Laden 26, Enrol 28, Wider 30, Ply 32, Bigger 33, Animal 34, Mean 35, Din 36, Less.

Down: 2, Radio 3, Execute 4, With 5, Tend 6, Table 7, Undergo 11, Ace 12, Via 13, Era 16, Ill 17, Dud 19, Pensive 21, New 22, Initial 23, Nor 25, Awl 27, Organ 29, Evade 30, Prod 31, Yarn.

How to Play Sudoku

P

lace a number (1-9) in each blank cell. (No line can have two of the same number).

Each row (nine lines from left to right), column, (also nine lines from top to bottom) and 3 X 3 block within a bold block (nine blocks) contains number from 1 through 9. This means that no number can appear twice in any block, column or row.

No mathematics is involved – no adding, subtraction, division or multiplication, just plain logic and your imagination.

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