Monday, October 1, 2012 by GLOBAL MEDIA MIRROR LIMITED

THE

BUSINESS

Digital money and the emerging gold standard payment Oil majors grumble as Nigeria seeks 73% of offshore profits P.A7,A12

Free inside nsi siide de

Vol. 2 N0. 459

SECTION

2013 budget: Why Reps stopped President –Deputy Leader

Gunmen abduct Delta commissioner, kill police orderly P. 63

Public hearing on constitution review soon Eghagha

Monday, October 1, 2012

P.62

Tambuwal

N150

Nigeria’ll overcome challenges –Jonathan GEORGE OJI, ROTIMI FADEYI AND JAMES ABRAHAM

Leaders disconnected from the people –Oritsejafor

resident Goodluck Jonathan yesterday gave assurances that Nigeria would overcome her security challenges even as the President of the Christian Association of Nigeria, CAN, Pastor Ayo Oritsejafor, expressed concern that leaders were disconnected from the people. President Jonathan, who spoke at the interdenominational church service to mark the nation’s 52nd independence anniversary CONTINUED ON PAGE 6>>

FRONT PAGE COMMENT

Nigeria: Still a weary giant at 52

igeria’s 52nd independence anniversary has again offered the opportunity for reflections on the nation’s freedom from British colonial rule as well as on the burdens and benefits of nationhood since 1960 when the country gained political independence. What, for instance, has been the lot of the average Nigerian in terms of living conditions? What is the nation’s rating on all internationally accepted indicators of development? Have the political class lived up to public expectation? Has the country registered progress and meaningful breakthroughs in its political culture and institutions? How about infrastructural, technological, scientific, industrial and economic advancement? Where is the nation headed today? CONTINUED ON PAGE 15>>

We’ve always had reluctant presidents, P.49 leaders –Oyegun

Awolowo depended on cocoa, timber to achieve what he did –Fasoranti P.14

JTF kills two terrorists in Zaria bomb factory raid

P.63

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

News

NIGERIA @ 52:

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Nigeria’ll overcome challenges –Jonathan CONTINUED FROM PAGE 1

at the National Christian Centre, Abuja, noted that prayers would liberate the country from its present challenges and place it among the great nations of the world. “These are temporary human problems and we will overcome the challenges,” Jonathan said. “World leaders are commending us for the reform in our electoral process, Transparency International, TI, has rated us second to America in the commitment to fighting corruption.” He noted that the leaders alone could not change the country, urging Nigerians to support the development of the country. Oritsejafor said that if the country was to move forward, the leaders needed to be humble, stressing that God hates pride and this could hinder answers to prayers. “Many of our elected and appointed officers are so disconnected from the people and that is pride. We must deal with pride to make things work in this country,” Orisejafor said. The CAN president described as wicked the fact that the “Centre for Management Development spends N1.6bn annually on generators when a lot of people see electricity cables without having electricity. “Is it not wickedness that people don’t have houses to live while others have mansions? Is it not wickedness for men to make incantations and satanic pronouncements over this nation in shrines and strange altars, all because some of them desire positions at all cost?” The cleric noted that Boko Haram is a terrorist organisation fuelled by a fundamental religious ideology rather than poverty. “Boko Haram is funded from within by people who desire to use them to create political space for themselves and funded from without by those who want to see Nigeria divided along ethnic lines. “Boko Haram is also sustained by media apologists who feed the unsuspecting public with politically incorrect half-truths,” Oritsejafor said. He, therefore, urged Ni-

gerians to turn from their wicked ways and pray for the nation’s progress and development. In his remarks, the former Head of State, Gen. Yakubu Gowon, said that the occasion of the 52nd independence anniversary called for sober reflection, because of numerous challenges confronting the nation. Gowon called for prayers of intercession for the nation by various religious groups and underscored the need for everyone to seek the face of God in confronting the daunting challenges. “Together we can salvage our nation. We must humble ourselves before our creator and seek the face of the Lord. “Nigeria needs massive mobilisation for prayers, Nigerians must put aside their personal agenda,” he said. Intercessory prayers were offered against moral decadence, indiscipline and corruption; poverty, unemployment and natural disaster, insecurity, terrorism, conflicts and unrest. The Senate President, David Mark, took the first reading of the Bible from the first book of Samuel, chapter 17 verses 38-47 while the second scripture reading was by the President which was taken from Second Corinthians, chapter 10 verses 1-5. Also, present at the church service were former President Olusegun Obasanjo; former VicePresident Alex Ekwueme; service chiefs, ministers and top government officials. President Jonathan will address the nation today as part of the activities marking Nigeria’s 52nd Independence. A statement issued yesterday by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati stated that the broadcast would be aired at 7a.m. According to the statement, the President would also watch a ceremonial Change of Guards by the Nigerian Army Brigade of Guards, at the State House, Abuja. This ceremony will be witnessed by Vice-President Mohammed Namadi Sambo, Mark, House of Representatives’ Speaker, Aminu Tambuwal; Chief

L-R: Delta State Governor, Emmanuel Uduaghan; his wife, Roli and Deputy Governor, Prof. Amos Utuama, during an inter-denominational thanksgiving service to mark Nigeria’s 52nd independence celebration in Asaba, yesterday.

Justice of Nigeria, Mariam Aloma Mukhtar, former heads of state, members of the diplomatic corps, political leaders, government officials, and other dignitaries. In a related development, Mark has stated that it is only the resolve and willingness of Nigerians to confront the challenges facing the country headlong that will get the nation out of the woods. Mark in his anniversary statement maintained that Nigerians had the capacity to solve their problems and should not look elsewhere. He said: “Nobody is coming from the moon or space to solve our problems for us. “The challenge is that we must put behind us such mundane issues as ethnic or religious differences and come together as one people to tackle our problems.” Mark listed the challenges of the nation since independence and called for more patriotic efforts to make the country great. “If we look inwards and do the right things in conformity with our laws and customs, we can adequately find solutions to our problems. “God has blessed the nation with enough human and material resources; we have all it takes to attain our giant status economically and politically. “All we need do is to harness our resources and potential for good,” he said. Mark regretted that the continuing destruction of lives and property by the Boko Haram sect, ethnic

militias and kidnappers. He said: “These were hitherto alien to us. It is a challenge we must resolve to end. We need each other. I am very convinced that with the cooperation of all, we can end the menace and make our country a better place. “For us as legislators, we will continue to be guided by the wishes and aspirations of the citizenry. We will legislate on what makes for the good of the nation at all times. We shall be fair, honest and objective on all matters affecting our citizens.” On the review of the constitution, Mark expressed optimism that the exercise would be targeted towards addressing all grey areas and imbalances in the nation “so that no citizen, group or section would feel oppressed or marginalised anymore.” He promised that the National Assembly would cooperate with the executive arm of government by laying an effective and resultoriented legislative framework for service delivery to the people “but would not compromise its oversight functions in the spirit of the checks and balances.” The National Leader of the Action Congress of Nigeria, ACN, Asiwaju Bola Tinubu, called on Nigerians to use the opportunity of the 52nd independence anniversary to refocus on the country and rededicate themselves to its development. “Nigeria, our dear country, could be passing

through a very difficult time now. But these are not problems we cannot collectively solve, if we all put our minds to them,” Tinubu said in an anniversary statement. The former Lagos State governor said one of the burning challenges facing the country was that of a constitution to make the country a true federation and correct all the structural imbalances that had resulted in mutual distrust and slowed down economic growth and prosperity. Tinubu called for the strengthening of the various institutions to serve the interests of the citizenry and not personal political interests. “The sustenance of our democracy is important. The can do spirit of Nigerians must be harnessed. Parochial sectional interests must be dislodged. And we must work collectively for peace and stability of the nation. “At the age of 50, a person is expected to have matured and developed into something greater. But a nation that is a continuum should have made concrete and critical steps towards the progress and happiness of its citizenry and not just be contented with business as usual that has left a vast majority of our people in a state of hopelessness. “We must re-focus, be determined and dedicated to nation-building and economic renewal of our people such that they really survive and not bare-

ly survive. Governance should not just be about leadership and benefits for the elites and the few, but must be for the concrete welfare of our nation. “Let’s see our democracy and hold it fast as one for the people, by the people and of the people and not that for the greedy, by the greedy and of the greedy. Nigeria is a promising nation to which we must all re-dedicate ourselves and uphold those ideals that make us strong. Only a sincere constitutional review for institutional strengthening will lead us to the path of greatness,” Tinubu said. The Plateau State Governor, Jonah Jang, said Nigerians had every reason to be thankful for the journey to nationhood so far. Jang stated this in his goodwill message to felicitate with Nigerians on the 52nd independence anniversary celebrations. “We have made progress and have witnessed transformation as a country. We are on a journey which also comes with challenges but we should remain optimistic because, we shall overcome and come out stronger, if we do away with vices like corruption, immorality, sectionalism and unpatriotic traits among others,” the governor said in a statement signed by his Director of Press and Public Affairs, James Mannok. He urged Nigerians not to dwell on the negative side but to appreciate the country’s positive strides in other spheres of life.

National Mirror www.nationalmirroronline.net

AYO OLESIN

or Nigeria as a nation and her citizens, the last 52 years has been a mixed grill of sorts. While some progress has been made in terms of Nigeria’s evolution as a modern nation state with democracy now seemingly entrenched; the quality of life of citizens, perhaps the most accurate indicator of the how far we have come, remains rather poor when compared with the situation with other highly populous and resource rich nations that were Nigeria’s peers in 1960. Most of Nigeria problems have been blamed on bad leadership resulting in weak institutions, pervasive corruption, gross systemic inefficiencies, inadequate power and other infrastructure and low capital formation among other issues. Some commentators say it is about the loss of moral values and lack of national character. National Mirror, in this special edition explores the trajectory that Nigeria has followed since independence with special focus of virtually all aspects of national life. We look at the political landscape, the critical sectors of the economy, the arts and other aspects of Nigeria’s vibrant culture. We x-ray the state of social services especially education and health and how the media has evolved and helped to shape the national debate, in addition to the emerging security challenges that threaten to pull the nation apart. Our sister publication, Business Courage looks at the reasons why the nation’s economy is still in slow motion and has not delivered in terms of job creation and tackling rising income inequality. This package also features interviews with Nigeria’s brightest minds that highlight the issues that should form the agenda for future national debate and chart the way forward for this country to realise her vast potential so long talked about. We spoke with Bismarck Rewane, respected economic and financial analyst who believes that

Monday, October 1, 2012

not much has changed in the Nigerian story as the economy is still bogged by sub-optimal performance despite great potential and resource endowment. For him, there is need for government policies to be tilted towards attracting both local and foreign investors rather than the

News

NIGERIA @ 52

PROLOGUE current adversarial environment that make life difficult of businesses. Ayo Teriba, CEO of Economic Associates also shares his insights into problem with our fiscal federalism, the folly of overdependence on oil since the

70s, poor economic policies and the irony of government borrowing its own money and further sinking the country into debt. Yet despite all the reasons to reflect on why Nigeria is not where it should be, the general feeling is that things will be better, even if there is pervasive

evidence to the contrary. Nigerians remain optimistic that our is not a lost case, and that with time and through increased enlightenment and willingness of population to participate in mass action and ensure the sanctity of the electoral process, power will return to the people and the will

truly have a say as to who rules them. The renewed hopes are also hinged on the fact that Nigerians are resilient and are ever prepared to earn a living on their own as traders, professionals, entrepreneurs or entertainers. What they require is just an enabling environment.

Politics

As Nigeria marks 52 years of independence from British colonial powers in 1960, OLAJIDE OMOJOLOMOJU goes down memory lane of her journey after independence.

n the aftermath of the Napoleon wars, the British expanded her trade relations with the Nigerian interior and in 1885, British claims over parts of West Africa was internationally recognised, leading to the formation of the Royal Niger Company under the leadership of Sir Goldie Taubman. On January 1, 1901, Nigeria became a protectorate of the British, a part of the British Empire, the foremost world power at that time. Then we had the Protectorates of Northern and Southern Nigeria and the Colony of Lagos, In 1914, the protectorates and the colony were united by Sir Fredrick Lugard to become the Colony and Protectorate of Nigeria, a name authored by Lugard’s wife. Administratively, the country was divided into the Southern and Northern Protectorates and Colony of Lagos. However, western education, and rapid economic development took root more in the South than in the North and this has remained and has continued to affect the political life of Nigeria till today. After the two World Wars, the growth of Nigerian nationalism led to the push for autonomy and successive constitutions promulgated by the British authority moved the country towards self-government, which was premised on a representative and increasingly, federal basis. The Federation of Nigeria came into existence on October 1, 1954 and following the great wave of agitation for self-government that swept through the length and breadth of Africa in the mid 20th century, the British on October 27, 1958 agreed that Nigeria would become an independent state on October 1, 1960. Nigeria became independent on October 1, 1960 under a constitution that provided for a parliamentary government fashioned after the British model. Jaja Wachukwu, who replaced Sir Fredrick Metcalfe, became the first Nigerian Speaker of the Nigerian Parliament, which was also then called the House of Representatives, from 1959 to 1960. In the pre-independence era, the late Chief Obafemi Awolowo was the premier of the Western Region, while the late Alhaji Ahmadu Bello, the Sardauna of Sokoto was the premier of the Northern Region and the late Chief Michael Opara was the premier of the Eastern Region

Independence As the Speaker of the House, Wachukwu received the Instrument of Independence, also known as ‘Freedom Charter’ from the Queen of England’s representative, Princess Alexandra of Kent at the independence ceremonies. At independence, Nigeria had exclusive powers in defence, foreign relations, commercial and fiscal policy. The Queen

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Political journey laced of England still remain the Head of State and legislative powers were vested in a bicameral legislature while executive powers were vested in a prime minister and his cabinet and the Federal Supreme Court exercise judicial powers. Political parties in the pre-independence and independence and to a large extent, the post independence eras however reflected the three major ethnic groups that made up the Nigerian state. The Nigerian Peoples Congress (NPC) represented the conservative, Muslim, largely Hausa and Fulani interests that dominated the Northern Region; the National Council of Nigerian Citizens (NCNC) represented the interests of the Igbo and Christian-dominated people of the Eastern Region and the Action Group (AG), which was a left-leaning party represented the interests of the Yoruba people in the West. In the 1959 election, held in preparation for independence, the NPC, which represented what was alleged to be three quarters of the land mass and half the population of Nigeria captured 134 seats in the 312-seat parliament, the NCNC won 89 seats and the AG obtained 73 seats. Nigeria’s first national government was formed by the alliance between the NPC and the NCNC and the AG became the opposition party. At independence, it was widely expected that the leader of the NPC, Alhaji Ahmadu Bello, the Sardauna of Sokoto, would become the prime minister of the newly independent state and its newly formed government, but Bello chose to remain as the premier of the North and selected Sir Abubakar Tafawa Balewa, to become Nigeria’s first Prime Minister. The charismatic leader of the Yorubadominated AG, Awolowo, became leader of the opposition, but this was not to last as in 1962, a faction broke out of the AG, under the leadership of late Ladoke Akintola, who was the premier of the West. The Akintola faction argued that the Yoruba was losing its pre-eminent position in business in the country to the Igbo, largely due to the NCNC’s alliance with the Federal Government under the NPC. Balewa aligned with Akintola and sought to have the AG as part of the government, but the AG leadership under Awolowo disagreed. Akintola was removed and replaced by Moses Majekodunmi. When the Western Region parliament met to ratify the change, riot broke out in the House, leading to the breaking of the mace and the eventual declaration of state of emergency in the West. The Federal Government arrested Awolowo and some members of his faction and charged them with treason. Akintola returned to head a coalition government in the West and the AG became an opposition party in its own enclave.

The First Republic Nigeria proclaimed itself the Federal Republic of Nigeria on October 1, 1963 and the late Dr. Nnamdi Azikiwe, the first Governor-General of the Nigerian state became the country’s first president. Eth-

Chief Obafemi Awolowo; Nnamdi Azikwe; Tafawa Balewa; Uwafor Orizu and Ahmadu Bello at the

nic and religious friction continued to be intensified largely due to the differences in the economic and educational development that existed between the North and the South. A new pro-Federal Government party, the Nigerian National Democratic Party (NNDP), was founded and it took over in the West. But, allegation of rigging trailed the 1965 election. Earlier, Awolowo was imprisoned for treasonable felony. A new realignment of political forces took place, with the dominant NPC entering into an alliance with the NNDP and thus left the NCNC to join forces with the remnants of the AG. The events following the 1965 election would plunge the country into a needless civil war, following widespread violence that erupted in the West, when the AG discovered to its chagrin that it had elected pro-Federal Government representatives.

Entered the military On January 15, 1966, a group of young military officers, mainly of the rank of Major of mostly Eastern extraction overthrew the NPC-NNDP coalition government in a military coup d’état and assassinated the premiers of the North and West, Bello and Akintola respectively. This led to a counter-coup by Major General Aguiyi Ironsi, which was unable to quell the agitations and rife that the first coup engendered. His attempt to unify the country through the promulgation of Decree 34, which sought to jettison the exist-

NIGERIA BECAME INDEPENDENT

OCTOBER 1, 1960 UNDER A

CONSTITUTION THAT PROVIDED FOR A PARLIAMENTARY GOVERNMENT FASHIONED AFTER THE

BRITISH MODEL

ing federal structure and the failure of the Ironsi government to put in place a constitution acceptable to the various segments of the country and the renaming of the country to Republic of Nigeria on May 24, 1966 led to nationwide riots which brought about the Yakubu Gowon-led coup in July 1966. The subsequent massacre of the Igbo in the North led to increasing secessionist sentiments. Gowon, in an attempt to foster unity, divided the four existing regions into 12 states, but the Igbo insisted on autonomy for the East.

The Civil War Buoyed by sentiment expressed by his kinsmen, on May 30, 1967, the military governor of the Eastern Region, Lt. Col.

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

with mines THE MASSIVE WEALTH THAT THE NATION HAS BEEN BLESSED WITH HAS NOT REFLECTED IN THE LIVES OF ITS PEOPLE AS THEY CONTINUED TO LIVE IN ABJECT POVERTY

Orizu panel.

Emeka Odumegwu Ojukwu, declared the independence of the Federal Republic of Biafra. This led to a 30-month civil war in which over 3.5 million lives, mostly starving children, were lost. The war came to an end due to the capitulation of the Igbo in 1970, with the famous ‘no victor, no vanquished’ speech by Gowon and the acceptance of the Instrument of Surrender by the Biafra. Nigeria witnessed an unprecedented economic and infrastructural development after the civil war following the rise in the price of crude oil in the international market between 1973 and 1974. Reneging on his promise to return the country to civil rule by 1976, Gowon was overthrown in a bloodless coup led by the late Gen. Murtala Muhammed and a group of officers who also accused Gowon of corruption on July 29, 1975. The Muhammed regime announced a transition timetable to terminate on October 1, 1979, when civilian government would be enthroned in the country. On February 13, 1976, another group of officers assassinated Muhammed in an attempt to wrestle power from the junta, but the coup was rebuffed and Muhammed’s Chief of Staff, Lt. Gen Olusegun Obasanjo became the Head of State. He kept faith with the transition to civil rule programme and on October 1, 1979, the Second Republic was born.

Second Republic Following the lift of ban on political

parties, five parties, the National Party of Nigeria (NPN), led by late Chief Adisa Akinloye; Unity Party of Nigeria UPN), led by Awolowo; Great Nigeria Peoples Party (GNPP), led by late Alhaji Ibrahim Waziri; Nigerian Peoples Party (NPP), led by the late Azikiwe and the Peoples Redemption Party (PRP), led by Mallam Aminu Kano, participated in the 1979 elections, which produced Alhaji Shehu Shagari of the NPN as president. He was sworn in on October 1, 1979 as the first President and Commanderin-Chief of the Armed Forces of the Federal Republic of Nigeria. The National Advance Party (NAP) led by Dr. Tunji Braithwaite joined the five political parties to contest for the 1983 elections. The NPN won in seven states of Bauchi, Benue, Cross River, Niger, Rivers and Sokoto; the UPN claimed the Western states of Lagos, Ogun, Ondo, Oyo and Bendel states; the NPP claimed the two Eastern states of Anambra and Imo; the PRP also claimed two states of Kano and Kaduna while the GNPP clinched Gongola State. The new constitution jettisoned the Westminster parliamentary system of government of the First Republic for a United States of America-styled presidential system of government. It mandated that party and cabinet positions reflect the ‘federal character’ of the country and also mandated political parties to register their presence in at least two-thirds of the states of the federation. The constitution also provided that each state should have at least one cabinet minister representing it, a practice that has subsists till date. Perhaps, unlike what we have today where all the political parties in the country cannot differentiate their ideologies and manifestoes, the UPN and the PRP presented the most coherent plan of action during the electioneering of 1979, refusing to build coalition of comfort but that of cooperation among like-minded individuals and organisations. The 1983 elections, alleged to be rigged massively by the ruling NPN, which won 12 states and huge majority in the National Assembly and which sparked widespread violence led to the truncation of the Second Republic by the military once again. A group of military officers sent the Shagari administration packing and announced Major General Muhammadu Buhari as head of the junta, which accused the civilian administration of losing grip of the na-

tion. The Buhari junta violated human rights and clamped almost all the serving governors in detention. The junta was also to be sent packing by the third ranking member of its Supreme Military Council (SMC), General Ibrahim Babangida, who accused the Buhari regime of misuse of power, violations of human rights and failure to stem the descent of the economy into an abyss.

The aborted Third Republic Babangida pledged that his junta would return the country to civilian rule by 1990, a date that was later extended to 1993. He also constituted a Constituent Assembly, which in 1989 fashioned out a constitution for the country. In October 1989, the Babangida administration established two political parties – the Social Democratic Party (SDP) and the National Republican Convention (NRC). But the Babangida transition suffered so many hiccups with the disqualification of prominent politicians that included the late Shehu Musa Yar’Adua. But in December 1990, the first round of elections were held to elect representatives at the local government level, with low turnout but devoid of violence, the SDP won majority of the local government councils, although the NRC also made a strong showing. State elections were conducted in December 1991 and these were followed by National Assembly elections and the presidential election was held on June 12, 1993, but the scheduled inauguration of the new president fixed for August 27, 1993 was truncated with the annulment of the presidential election on June 23, 1993 under the guise of several litigations trailing the election. The annulment threw Nigeria into an unprecedented turmoil, leading to the loss of over 100 lives before IBB finally stepped aside on August 27, 1993 and handed over power to an interim government headed by Earnest Shonekan, a businessman turned politician, who was to be at the helm of affairs till February, 1994 when new elections would be conducted. The June 12, 1993 election adjudged internationally and locally to be the freest in the annals of election in the country, became a watershed in the historical and political history of Nigeria and have continued to generate passion and controversy till date. The presumed winner of the election, late Chief M. K. O. Abiola, eventually ended up and died in detention after several efforts to reclaim his mandate were unsuccessful. On November 17, 1993, the lameduck Shonekan interim government was to come to an end when the Minister of Defence, General Sani Abacha overthrew it and proclaimed himself the Head of State.

The Abacha/Abdusalami Abubakar years General Abacha forced the Shonekan interim administration to resign on November 17, 1993, following what he described as his attempt to arrest the slide into anarchy in the country. Following his takeover, Abacha disbanded all democratic institutions already in place and appointed military governors to take over at the states. He began his own transition programme by legislating into existence five politi-

Politics

cal parties that were later to be described as ‘five leprous fingers of the same hand’, which adopted him as their candidate for the presidential election. Abacha’s plan to transmute from a military dictator to civilian president came to an abrupt end on June 8, 1998, following his death due to a heart attack he suffered and was replaced by General Abdulsalami Abubakar on June 9, 1998. Abubakar announced almost immediately the transition programme, which ended military rule on May 29, 1999, with the handing over of power to an elected President and Commander in Chief of the Armed Forces. Three political parties were registered by the electoral umpire, the Independent National Electoral Commission (INEC) to contest the elections in 1999 and they were: the Peoples Democratic Party (PDP), the Alliance for Democracy (AD) and the All Peoples Party (APP). The AD and the APP entered into an alliance for the presidential alliance and this led to the emergence of Olu Falae, a former Secretary to the Government of the Federation (SGF) and Minister of Finance to slug it out with the PDP candidate, former Head of State, Obasanjo.

The Fourth Republic The emergence of the present democratic experiment ended a 16-year long consecutive military dictatorship. Obasanjo was elected president and was inaugurated on May 29, 1999. The PDP also won majority in the National Assembly. The AD, regarded by many as an offshoot of the defunct UPN lay claim to the West, now known as South-West, by winning all the six states in the zone. The PDP won the majority states which include: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Benue, Bayelsa, Cross River, Delta, Ebonyi, Edo, Enugu, Imo, Jigawa, Kaduna, Kano, Katsina, Kwara, Nasarawa, Niger, Plateau, Rivers and Taraba,. The AD won in Ekiti, Lagos, Ogun, Ondo, Osun and Oyo states while the APP won in Borno, Gombe, Kebbi, Kogi, Sokoto, Yobe and Zamfara states. Despite the challenges of nationhood which confronted the nascent democracy of the Fourth Republic, Nigeria had continued to forge ahead and had seen 13 years of unbroken democratic experience, following the return of Obasanjo for a second term as president in 2003, the election of the late Umaru Musa Yar’Adua as president in 2007 and the elevation of his vice, Goodluck Jonathan, first as acting president following the absence of Yar’Adua as a result of ill-health and president following the demise of Yar’Adua on May 5, 2009 and his subsequent election as president in 2011 for a fresh four-year term. As Nigeria celebrates 52 years of nationhood as an independent nation, political analysts believe that the country has yet to be economically and even politically independent, especially on the backdrop of its dependence on external forces for its survival as a nation. The massive wealth that the nation has been blessed with has not reflected in the lives of its people as they continued to live in abject poverty and penury. When will the Nigerian people reach the proverbial Promised Land? That is the million naira question begging for urgent answers!

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

The lamentation of Nigeria’s flag designer

KEMI OLAITAN writes on the expectations at independence, the disappointments, pains and agonies of Michael Taiwo Akinkunmi, the man, who at 25, designed the green-white-green flag.

hen Michael Taiwo Akinkunmi, at the age of 25, joined other Nigerians of his age to participate in the competition for the design the country’s flag during the run up to the independence in 1960 and won, his expectations, like any other Nigerian, was that his country will take care of him, most especially, at his old age. But this has not been the case with the Egba-born retired agriculturist, who now lives a life of recluse in his three-bedroom bungalow located within Academy area, off Iwo Road, Ibadan. The building came the way of the man, who is now down with a disease that makes him speak incoherently in 2008, courtesy of ‘Who Wants to Be a Millionaire’, quiz programme sponsored by Global System Mobile communication firm, MTN Telecommunications. The telecommunications giant had, in November, 2008, awarded Pa Akinkunmi, a sum of N2 million for his rehabilitation, in recognition of his notable contribution to national development. It was that money that the old man had utilised in acquiring the then uncompleted property which was subsequently put into shape for the accommodation of his household. Until MTN intervention, Pa Akinkunmi had, for ages, been dwelling within the extended family compound at Ekotedo, near Dugbe, in the centre of the ancient city of Ibadan, the Oyo State capital, as he could not afford the luxury of a personal house. At Nigeria’s independence in 1960, Akinkunmi was resident in London as a student. He took part in the grand contest for the design of the national flag as independence beckoned and emerged the winner of the keenly contested competition. His imaginative presentation of the Green -White-Green flag was quite meaningful. The green symbolises the nation’s prospects, particularly her rich agricultural endowments just as the white portrays unity and peace. At the time he contested and won the national flag competition, Akinwunmi was studying Electrical Engineering at Norwich Technical College, West Norwich, and his presentation was adjudged the overall best. On completion of his education in Britain, he returned to Nigeria in 1964 and had a civil service career in the then Western Region, where he worked in the Ministry of Agriculture from where he retired in 1994 as a Principal Agricultural Superintendent. Despite that his name is supposed to be a household name, for the rare feat he archived and his role in the country’s independence in 1960, unlike his contemporaries in other climes, a first time visitor to his area in Ibadan will find it difficult to get him as many people do not even know that he was living in the area. It is only by motorcycle, popularly known as ‘okada’ that one can get to his house but most of the okada operators do not know the location of his house, until a retired teacher, who also operates an okada came to the rescue. The road to the green-white-green house is in bad shape that it will bring tears to the eyes of many and it further depicts the condition of the occupants of the house. When National Mirror visited him, Pa Akinkunmi was sitting in a sparsely furnished sitting room, with a television that has seen many years perched precariously on a table. With no electricity in the area, the old man was sweating profusely where he was seated, being attended to by one of his sons, Akinwunmi. Looking dejected and speaking with the assistance of his son, Pa Akinkunmi lamented that his design of the nation’s flag had rather positioned him “larger than life” in the society and sees the national feat as a paradox to the reality of his obscured living standard. According to him, the irony of it all was that, while people were always eager to catch a glimpse of his per-

Michael Taiwo Akinkunmi

THIS IS NOT NIGERIA OF OUR DREAM. OUR LEADERS ARE SELF-CENTRED. THINGS ARE NOT GOING THE WAY PEOPLE EXPECTED.

OUR LEADERS

SHOULD HAVE THE FEAR OF

GOD FOR THE COUNTRY TO BE ABLE TO ATTAIN GREAT

HEIGHTS AMONG THE COMITY OF NATIONS son whenever and wherever his name was mentioned as the designer of Nigeria’s national flag, many find it unbelievable on sighting his personality, which was an opposite of the expectations of the people of the fame the design should have bestowed on him. Akinkunmi, who is currently relying solely on his monthly stipend as a pensioner to survive, is full of

Nigeria’s flag

lamentation that even his household, like many others in the nation, is having its fair share of the country’s problem of mass unemployment. He said many of his immediate family members, among who are graduates, are still searching for the elusive gainful employment, despite their enviable disciplines in the tertiary institutions. Discernible on the walls of his sitting room are many awards bestowed on him and these include trophies and shields such as the Grand Master of the Order of the Niger of the Students Union of the University of Ibadan (2005); Merit Award of the Nigeria Union of Journalists (NUJ), Oyo State Council (1996); Merit Award of Support to Services to Humanity of the Nigeria Council of Women Societies (2004); Merit Award of the WAI Brigade of Nigeria, Lagos State Command (2009); as well as the Human Rights Hall of Fame Award of the Centre for Human Rights Research and Development (2005). Pa Akinkunmi, speaking on Nigeria at 52, said that at independence, Nigerians had dreamt of a country where everybody will experience good governance, fairness and rule of law in all its ramifications with security and social justice being uppermost in the agenda of the leadership. But, unfortunately, he submitted that the country’s attempts and efforts at moving democracy forward ever since, have always received blows even from those at the helm of affairs, with corruption already eating deep into the main fabrics of the nation. He stated that the wish of the people has been suppressed by temporary wielders of power and authority. His, “This is not Nigeria of our dream. Our leaders are self-centred. Things are not going the way people expected. Our leaders should have the fear of God for the country to be able to attain great heights among the comity of nations.” One other thing that has also continuously worried Pa Akinkunmi is that, even though Nigeria, since independence has continued to grow physically, this has been without much to show in terms of economic and social emancipation of her citizens. He said the average Nigerian live far below the poverty level in the wake of corruption and mass unemployment that have engulfed the nation. But isn’t the labours of this unsung hero past already in vain, in contrast to the first stanza of the national anthem? Perhaps, Pa Akinkunmi’s neglect by his fatherland would, one day, become a parameter to study why Nigerians are no longer patriotic and have, these days, taken their destiny in their hands to amass as much wealth as they could while they have the capability.

Lowering of the pre-independence flag on October 1, 1960

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Arts Interview

I was not commissioned to compose Nigerian anthem –Pa Odiase One of the greatest fears of Pa Benedict Odiase (MON) is publicity. Although, he should be in the public glare, as the composer of the words making up the Nigerian national anthem, he prefers the quiet life his Oregun, Lagos residence avails him. But like a golden fish, there was renewed interest in the media to get this man to speak about his life, which was buoyed by the fact that Nigeria turns 52 years today as a nation, as well as the recent revelation by the Musical Copyrights Society Nigeria, MCSN, that he had been handed royalties for his work being exploited at various locations in the world. That spawned curiosity on the state of his well-being. Is he languishing in penury like numerous other heroes of our nationalism? How much help does he need from the government? The work he did in 1978 is, undoubtedly, one of the most sung lyrics in Nigeria. A hero by all standards, Pa Odiase retired in 1992 as a Deputy Commissioner of Police after being the Director of Music with the Nigeria Police Band. He shared some insights into this noble endeavour with NGOZI EMEDOLIBE. Many young Nigerians would like to know the origin of the National Anthem which is very popular today? I composed the music titled “Arise O Compatriots” in May 1978. The words (lyrics) were made available by officials of the Federal Ministry of Information in an open competition. Did the government provide the words for you to play with? It was an open competition, but apart from being an open competition, composers were guided that the music must not be mo more re tthan han two

stanzas; that explains why the National Anthem has only two stanzas. When did you join the police? I joined the Nigeria Police Force in March 1954 and served in the force based on instructions from the Police High Command. I was not commissioned by the Federal Government of Nigeria or any of its departments or agencies specifically for the purpose of writing and composing the anthem. As I said earlier, I was never commissioned by the Federal Government of Nigeria specifically to compose the anthem; it was open to

THE AWARD WAS

GIVEN TO ME IN REC-

OGNITION OF MY OUTSTANDING CONTRIBU-

TION TO THE GROWTH AND DEVELOPMENT OF

NIGERIA POLICE FORCE

MUSIC IN THE

all Nigerians. I sent in my entry in May 1978 in a private capacity and not as a government employee. What happened after the entries were made? I was not consulted formally in writing before the work was adopted as the Nigerian National Anthem, but it was verbally announced that my composition was adjudged as the one selected by the Supreme Military Council (SMC) at the time. All individual entries were sent to the Federal Ministry of Information, Lagos. The entries were shortlisted to only three as announced by Mr. Christopher Oyesiku, then the leader of the Federal Radio Corporation of Nigeria (FRCN) Choir. The shortlisted entries were those of Professor Laz Ekwueme, Professor Akin Euba, then of the University of Lagos and my humble self. How much were you paid by the SMC for that adoption? When the composition was formally chosen as the Nigeria National Anthem on October 1, 1978, there was no immediate reward or commendation. I retired from the Force in 1992 as a Deputy Commissioner of Police. Did you cede the right of the works to the Federal Government? I have never ceded rights or interest in the composition either by writing or otherwise to the Federal Government. I have the National Honour of Member of the Order of the Niger (MON) given to me in December, 2001. The award was given to me in recognition of my outstanding contribution to the growth and development of music in the Nigeria Police Force as attested to by my citation and not because of the composition of the National Anthem. Who administers the rights at the moment? I have transferred my intellectual/copyright interest in the work, “Arise O Compatriot” being used as the Nigerian National Anthem to the Musical Copyright Society Nigeria (MCSN) from the Performing Rights Society of United Kingdom, for pro-

Pa Ben Odiase

National Anthem “Arise, O Compatriots” Arise, O compatriots, Nigeria’s call obey To serve our Fatherland With love and strength and faith. The labour of our heroes past Shall never be in vain, To serve with heart and might One nation bound in freedom, peace and unity. O God of creation Direct our noble cause Guide thou our leaders right Help our youth the truth to know In love and honesty to grow And living just and true Great lofty heights attain To build a nation where peace And justice shall reign. Note: The lyrics of Arise O Compatriots are a combination of words and phrases from five of the best entries in a national competition to produce a new national anthem in 1978. Ultimately, the words were made into music by the Nigeria Police Band under the directorship of Benedict Odiase then.

tection since 1998. This decision to accede my rights to MCSN has paid off handsomely as the society has protected my work and paid royalties to me in hard currencies from the usage (exploitation) of my composition around the world and locally.

Economy

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Celebrating Nigeria without coal One of the major sources of revenue for Nigeria before Independence in 1960 was coal. Today, coal has been abandoned with the discovery of oil, writes DENNIS AGBO in Enugu.

igeria’s former Prime Minister, Alhaji Tafawa Belewa was made the board Chairman of Nigeria Coal Corporation (NCC) before 1960 but even as the Prime Minister, he found all the time to drive down to Enugu from Lagos to sit over the board because of the then strategic position of coal as a revenue source, energy for locomotive engines, electricity and other factory productions. Mining of coal in Enugu really started in 1916 with the Ogbete mine and later other mines like the Ribadu, Onyeama and Okpara mines were opened up. During the civil war there was establishment of coal mine at Odagbor better known as Okaba coal that became the Nigeria Coal Corporation while the one in Enugu was known as Biafra Coal Corporation but at the end of the war, the two merged. Coal was feeding electricity generations in the country especially at Oji and Ijora power stations. The coal was mined in Enugu under the earth, taken through railway to Port Harcourt for export and at Lagos it enters into the stem engine roller for the Ijora power station. Study indicates that Nigeria’s Coal resources have been estimated at 2.5 billion tons, lignite at 250 million tons, and limestone at 600 million tons that are spread over fifteen states in the country. The Nigerian Coal Corporation is responsible for most of the existing coal mines but the Nigerian coal mining industry is slowly being privatized as part of increasing production back to levels of 900,000 tons per annum, last achieved in 1959. The Federal government had many years ago signed its first production sharing agreement with Nordic Industries, a consortium of Danish, British and local firms to develop its coal industry. Whereas the Okaba/Odigbo mine district in the northern Kogi State has reserves estimated at 22 million tons and is due to be developed, the Enugu mine has a capacity to produce 150 000 tons per year. In 2002 the MSMD gave the goahead for a joint venture between South African group LSC Consortium and Polish company Kopex to exploit coal from mines at Onyeama, Okpara in Enugu and Owupka in Benue state.

In 2007, the Federal government opened negotiations with some Chinese companies over the exploitation of Nigeria›s abundant coal resources estimated at over 2.5 bn tons. Former Managing Director of Nigerian Coal Corporation, Enugu, Mr. Dennis Okafor told National Mirror that approval has already been given to a “Group of Chinese Companies” to build seven power stations across the country using coal. According to Okafor, «all over the world, coal has always been a major contributor to the energy demands of any nation. Around the world, it is the same everywhere. We cannot hide from the fact that Nigeria is seriously endowed with coal resources. In fact, studies done on Nigerian coal deposits show that we have over 2.5 bn tons of black coal in Nigeria.” It is one of the cheapest sources of energy that has about 250 components. Coal is sometimes called crude oil in block but it has properties more than crude oil. Even though Nigeria had other mineral resources like tin and columbine mined in Jos, coal remained the major source of energy for power, cement production and for domestic uses before and after Nigeria Independence in 1960. It generated revenue from exports and tax was paid to the Federal Government under the then Nigeria mining law and that was the reason why Enugu was designated as crown land under her Majesty, the Queen of England. In 1956, Queen Elizabeth commissioned the Oji River Power station in the present day Enugu State. Veteran journalist and former Public Relations Officer of the Nigeria Coal Corporation, Mallam Ibrahim Ibe Okpokwu, comes from the family of coal miners and administrators. He recalls that when coal mining was at its glory, it affected the people’s lives positively with economic values even though people died in mines after blasts when some of the hanging surface mines would fall and crush miners. “We call it the overhanging particles; some will die especially if they don’t heed the call to come out before blasting. That’s why down here in Enugu you see some people hunky, those who are still alive; because of the way they bent in and out of the mine, so you see them bend with back

Cannibalised coal processing plant

hunks,” he said. Mr. Charles Okeke, 78 years old retired coal miner met at the premises of Nigeria Coal corporation in Enugu where he wore long face among some of his fellow retires of the corporation said the dangers inside the mine is the more reason he and his colleagues have continued to demand for their retirement benefits. He stated that Coal mining is not what anybody goes to the open market to recruit miners “unless you want to kill them. You employ experienced miners that will head the new ones until they learn the art. For instance, the roof can collapse and kill people. If the high roof collapsed, it will look like where tipper tipped heavy loads of sand. One man was killed inside the mine one day that the roof collapsed. A real miner cannot tell you all he saw in a weekend. You know the early morning palm wine tapper does not tell all that he saw because if he tells you all he saw, he may pass away from there,” said Okeke. Enugu coal is said to have the best water quality at about Hp6. It is used for industrial production and one can also drink it. Coal gave birth to Enugu, the entire coal camp, and most of the structures in Enugu today like the artisan quarters, the collary houses, the old GRA structures all came as a result of coal mining. But with the discovery of oil after the Independence, oil became cheaper to produce with all its derivates and coal was abandoned. Yet coal has remained a major source of

Enugu coal mine

energy in Europe and all other parts of the world. “Suddenly Nigeria became crazy and abandoned coal the same way it abandoned agriculture and started using black oil (crude oil) and that is the sorry history of the coal industry,” regretted Okpokwu. He, however, feels that the coal industry could still be revamped to produce energy and revenue for the country but the irony is that even when coal is no longer being produced its demand is still very high. Former President Olusegun Obasanjo’s administration made effort to revamp the industry and gave money for the reactivation but the purpose was not achieved. Australia is one of the countries in the world asking for Nigeria’s coal because of its calorific value and President Obasanjo was shocked by Australia President that Nigeria has coal in almost all the states of Nigeria, yet it is laying waste under the earth. “If you see the geological survey of Nigeria, you see that after oil you now start seeing the solid

oil. Coal from Enugu marches down to Abia boundary then you start seeing oil. Down to SouthWest after Delta area you are seeing another black mineral down and you see the oil. If we make the coal very well, nobody will use firewood again to cook food because its blue flame and even as we speak, America has interest in Nigeria’s coal, South Africa even came because they power their electricity by coal completely. Coal is in high demand, but the focus on oil is what is affecting it,” lamented Okpokwu. Okpokwu feels sad that Nigeria is celebrating 52 years of political Independence without the coal industry. “What we need is commitment from the government and interest holders. Bureaucracy and corruption are parts of the problem otherwise I don’t see reason why the coal mines are not being blast. You see one delay or the other, you see up till now former workers were laid off and are still awaiting for their houses to be monetized, some to be paid off and so on and so forth.”

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Economy

Cocoa, once bedrock of nation’s economy WALE FOLARIN OSOGBO

ocoa is many things to most people. To the farmer, it is an important tree crop which generates income. To the governments of many developing countries, cocoa is a valuable cash crop whose export provides much-needed foreign exchange. To the cocoa merchants, it is an article of trade “the golden goose that lays the golden eggs”. To cocoa processors, it is the raw material which produces numerous consumer products. To the consumer, it is a food taken for pleasure, but which has a high nutrition value making it a supplement to a balanced diet. Between 1888 and 1899 the Royal Niger Company established plantations at Asaba and other riverside locations in the vicinity of Onitsha. Nigerian government distributed cocoa seedlings for planting at the old Botanical Garden at Ebute-Meta in 1887. The earliest commercial planting was made near Ibadan. Introduction of cocoa seeds into Ibadan was from two different sources. One was by Rev. D.M. Oyebode in 1890. The other introduction was by Mr. Ogunwole of Agbakin village at Idiape near Agbodi, Ibadan. Also, Mr. Alexander Adebari Okenla of Okenla village near Ibogun in the Ifo District was responsible for introducing cocoa seeds into Abeokuta province, while the late Rev. S.C. Phillips introduced cocoa cultivation to Ilesa. At that time, cocoa cultivation, processing and marketing provide employment opportunity for several farming and nonfarming households. It was a source of income and livelihood to the growers, processors and traders who engaged in cocoa marketing. After 100 years of harvesting cocoa in Nigeria the first cocoa products were put on commercial basis by the launching of COCOA-BREAD in November 1965 by Mr. J.O. Osunkoya. The bread was acclaimed to be good, the department of chemical pathology, University College Hospital, Ibadan then came out to encourage the consumption of Cocoa Bread saying that it gives more nutrients than ordinary bread 49% more protein for growth 10% more calories for energy, 26% more calcium for stronger bones and 10% more iron for blood. Cocoa dictated the pace of economic activity in the former Western state now Ogun, Oyo, Osun, Ekiti and Ondo states which is referred to as “Cocoa Belt” of Nigeria. It was the main source of revenue and the pillar of the economy in the Western Nigeria. Through the income generated from cocoa by the late sage, Chief Obafemi Awolowo, the Western part of the country witnessed rapid transformation and socio-economic development. It was at that time that Awolowo used revenue from cocoa to build the popular Cocoa House, the then Liberty stadium now Obafemi Awolowo stadium and the University of Ife, now Obafemi Awolowo University, Ile-Ife, while many roads were constructed and schools built from the proceed of cocoa. Up till now, the area produces 95% of the country’s cocoa. The production involved about 33,000 peasant farmers and about

Liberty Stadium, Ibadan

Cocoa pods on the trunk

THE GLORIOUS DAY OF COCOA AS ONE OF THE MAINSTAY OF THE Cocoa House, Ibadan

480,000 hectares. Cocoa was a major source of government revenue through various forms likedirect taxes, export duty, port handling fees, produce sales tax, development levies and grading fees to many states. In Ondo, for example, before the creation of Ekiti State; the then Governor, Navy Commodore Ekundayo Opaleye announced in the 1980s that over N800,000 was realised every week in registration and produce grading fees. At a time, as an export produce, cocoa tremendously enhanced foreign exchange earnings thereby making invaluable contributions to the building, sustenance and developmental efforts of the nation in general. Cocoa was until 1970, one of the major sources of the federal revenue. Of the N254million earned on all agricultural exports in1969, N106million or 40% accrued from cocoa export alone. Unfortunately, the glorious day of cocoa as one of the mainstay of the nation’s economy has become history. With the advent of oil, cocoa farming has gone under, with government paying lip service to cocoa production in the country. Perhaps con-

NATION’S ECONOMY

HAS BECOME HISTORY.

WITH THE ADVENT OF OIL, COCOA FARMING HAS GONE UNDER

fronted with the reality of the fact that the oil boom which has turned to oil doom may soon fizzle out, government began to take measures that would encourage the growth and production of cocoa in the country. Yet such measures have been found to be inadequate, although, recently the country has accounted for nearly one-fifth of the world supply. In May 2006, the African cocoa producing countries summit was held in Abuja to deliberate on ways of boosting production and commanding of equitable prices for cocoa products. Notable countries that participated includes:- Nigeria, Ghana, Cote D’ivore, Gabon, Sierra Leone , Togo, Uganda, Cameroon and producing states by National Cocoa Development Committee (NCDC) that was set up by President Olusegun Obasanjo on December 2, 1999

with the main objective of promoting cocoa production. In alphabetical order, the NCDC listed the 14 cocoa producing states as follows: Abia, Adamawa, Akwa Ibom, Cross River, Delta, Edo, Ekiti, Kogi, Kwara, Ogun, Ondo, Osun, Oyo and Taraba. Of all the mentioned states, Ondo remained the largest producer of cocoa in Nigeria, closely followed by Cross River and Osun State second and third respectively. Oyo State came fourth while Ogun was fifth. A presidential sub-committee on increased local consumption of cocoa under the leadership of the present Minister of State for Defense, Erelu Olusola Obada, was set up. National Cocoa Day symposium was also organised, all in a bid to boost cocoa production and consumption. However, the efforts put up by Obasanjo through his cocoa re-birth project seem to have fizzled out with the expiration of his tenure. Until 1973, Nigeria was the world’s second largest producer (after Ghana), but it has now fallen to the fourth place in the table of world cocoa producers with the foremost three being Coted’ivore, Ghana, and Brazil in that order. Now with the dwindling revenue from oil, people are strongly calling for a quick return to the glorious days of cocoa in Nigeria. Although some state governments have already taking steps in this direction by encouraging cocoa farmers through the provision of improved cocoa seedlings, pesticides and farm implements, much is still being expected if the labour of our heroes past will not be in vain. According to Pa Ahmed Raji, a cocoa farmer at Ifetedo, in Ife South Local Government Area of Osun State, it is time that government at all levels wake up from their slumber and declare an emergency in the area of cocoa production. Raji who said that he has been a cocoa farmer ever since childhood, said that he always feel sad when he remembered the glorious days of cocoa farming and the unfortunate decline the venture has witnessed. Also another cocoa farmer, Alhaji Raheem Bello lamented the dwindled fortune of cocoa in Nigeria and called on government at various levels to intensify efforts at boosting cocoa farming and production in the country. For him, the country has a lot to gain from the exportation of cocoa, while it would also provide employment to many unemployed youths in the country. Bello admonished government at various levels to go into cocoa farming and processing, as well as encourage cocoa farmers through provision of interest free loans and needed farm implements. It is indubitable that it was high time that the country returned to the good old days of cocoa in the West, groundnut in the North and coal in the East if the government is serious with its transformation agenda. Government should stop ignoring the call for the diversification of the country’s economy and a focus on agriculture. It’s high time that the nation come to grips with the realisation that for the foreseeable future agricultural produce of which cocoa is a key factor, shall continue to be the only reliable bedrock of the country’s economy.

Politics

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Awolowo depended on cocoa, timber to achieve what he did – Fasoranti

Where do you think we got it wrong as a nation? We got it wrong because we love money. We love fine, fine things. We love what money can buy, expensive cars, expensive attires. Industrially, we are nothing. We have not been able to industrialise our country. We rely absolutely on importation and no attempt is being made to turn things round. Look at the way we have been importing finished materials. And if we continue to do that, there will be no day we will be ready to manufacture things, unlike the Asian countries. During the Second World War, Japan was nothing and the goods manufactured by the Japanese were very inferior. So, anything that was not particularly good was referred to as product of Japan. But look at them today; they have stolen the show. China is rivalling America; China which was nothing before. We have not started at all. So, we have to make up our mind. If we are going to be an agricultural country, let us be an agricultural country and do it well.

Chief Reuben Fasoranti is the leader of Afenifere, a Yoruba socio-cultural group. He was a school principal when Nigeria attained independence in 1960. In this interview with OJO OYEWAMIDE, he shares his thoughts about the country’s growth. Excerpts: As someone who witnessed Nigeria’s independence in 1960, what was the experience like? It was a very exciting period. We were all very happy. We all jubilated. People like Papa Awolowo, although he was not given much recognition, he was at the celebration. We felt fulfilled that something we had been struggling to get came through. And we were full of hope. People were very happy and they were ready to work; they were ready to copy developed countries in the areas of advancement, freedom. We expected that the country would take off like other countries. Not only that, there was job galore. People were slated for what we called senior service posts which were at that time occupied by Europeans. Nigerians were promoted and we were happy to have stepped into the shoes of the foreigners. But the happiness was short-lived because efficiency which we saw during the colonial era began to wane. Honesty began to wane. People were anxious to get into positions, but they were not performing optimally. The joy of independence lasted for some time before we started experiencing things which we didn’t expect. Before that time, honesty was the vogue. If you committed a crime, you would be tried and sent to jail. There was fairness. There was that expectation that honesty should be our watchword. I remember a senior service person who occupied a very high position in one of the corporations. He was a lawyer. He committed a crime. He thought it was a joke but he was tried and jailed. That will not happen now. There would be all sorts of pressures from here and there, consideration for ethnic groupings, that if he is from this ethnic group, he shouldn’t be punished. That was not so at that time. I also knew a friend of mine. He was senior to me, fairly well-qualified. He committed an offence which amounted to fraud. He was tried and jailed. People raised highbrow that a thing like this could happen. That was a trait of the colonial era. What they planted was that honesty should be the best policy. There was no question of lobbying or using ethnic influence or whether you know A or B. The law was allowed to take its normal course. That is not so now. If you suffer an indignity, you can be sure if you don’t come from the right ethnic group, you will go in for it. Promotion in the civil service was on merit and this was the civil service that produce people like S.O Adebo, Ejiwumi, Professor C.O Taiwo, just name it, quite a number of them. They were men of integrity. Peter Odumosun was the Head of Service in the Western Region. His name was magic. That is not so now. People worked hard to earn their promotion. That isn’t so now. Go to the government offices, you see civil servants chatting, you see civil servants putting their legs on the table, civil servants telling the stories of yesteryears and the work is not going on at all. What is more, the civil service is bloated, overpopulated and the output is nil. If you want a civil service job, you must have a godfather. But in the past, it was purely on merit. So my fear is that unless something is done, civil service will collapse. You said the late Chief Obafemi Awolowo was not given much recognition at the independence. Why do you think he was treated in such a manner? It was because of the party in power at that time. Tafa Balewa was the Prime Minister. He wanted to give the

Don’t you think petroleum is the cause of the problem? Yes, when petroleum came, people abandoned the countryside and trooped into the cities because of oil money. I think it was Gowon who said money was not our problem but how to spend it. And since that time, things have not been the same again.

Fasoranti

THE PEOPLE OF OUR TIME, WHO CAME THROUGH THE

COLONIAL DAYS, WE FEEL VERY DISAPPOINTED...

AND WE

DON’T EVEN KNOW WHAT WILL

HAPPEN.

UNLESS THE LEADERS

BUCKLE UP AND CALL THE

SHOTS, WE ARE GOING DOWN THE DRAINS glory to his own party members. Papa Awolowo was at the Tafa Balewa Square. He was there not recognised in spite of all his activities and so on. This we knew and carried by some reports. What were you doing at independence? I had already graduated. I was the principal of a school. I was a teacher and later I became a principal. Would you say that the dreams of the founding fathers of the Nigerian nation have been realised and worth celebration? Well, I am not even sure whether the power that be will want to celebrate it. What are they happy about? What is the achievement? Corruption is now on the pedestal. Crime is on the increase. Laziness is now the vogue; nobody works hard. Honesty is completely gone. So, we are disenchanted. The people of our time, who came through the colonial days, we feel very disappointed, highly disappointed. And we don’t even know what will happen. Unless the leaders buckle up and call the shots, we are going down the drains; we are going down the slope. And in no time, there will be so much apathy. People will not be happy; they would not be prepared to give their best to the state. Get quick rich mania is already the vogue; national pride is not there. Unless the leaders call the shots and show by example in their own ways of life, it will be difficult for the coming generation to have anything to do to halt it. That is my fear.

There seems to be a general consensus about the warped nature of our federalism. What do you think should be done to correct the federal system of government? They should devolve the powers that are concentrated at the centre. The regions should become stronger as it was done in the past, in the First Republic. The regions were unique; they take their own fortunes in their own hands. They make their own laws. At that time, there were high commissions in London for the regions. They were making laws for themselves and communicating with their own governments. They knew what they wanted and each region advanced at its pace. They didn’t have to wait for A or B as it is now done. Revenue was not centralised. Papa Awolowo depended solely on cocoa and timbers to achieve what he did. What we have now is still much of a unitary government. In the past, the regions were contributing to the centre. They were making their own money and spending it the way they wanted to. Look at the states now, look at the oil-producing areas, they are grumbling because the resources that come from them are what we are now sharing. They are already agitating for more derivation. They should be properly treated. They should have a fair share of the mineral that comes from their region, more so that their environment is already destroyed. Their water is polluted; the fish that was their means of survival is already destroyed. There is no water to drink. They want more money to be able to improve and sanitize their environment. These are some of the problems that we have. Unless we can sit down at a roundtable conference, discuss it and proffer solutions, there will be so much distraction, so much dissatisfaction. So, we must sit down and discuss whether we should continue to live together or what are the terms of our co-existence? What is your advice to President Goodluck Jonathan? My advice to him now is that corruption should be fought head-on. There are too many sacred cows. That is making things worse. People who are found to be fraudulent should be dealt with. It doesn’t matter whose ox is gored. Many of the people who have stolen public money are allowed to parade themselves all over the place. That is not good for the country. He should fight corruption and not pretend to be fighting the menace. He can borrow a leave from the advanced countries where corruption had been rising before but has now been stamped out. What methods did they use? We must try and be less nepotic, be less chauvinistic, be less partial.

National Mirror www.nationalmirroronline.net

Editorial

Monday, October 1, 2012

All the Facts, All the Sides A PUBLICATION OF GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, OFR PUBLISHER

STEVE AYORINDE

MD/EDITOR-IN-CHIEF

YELE AKINROLABU

ED OPERATIONS

SEYI FASUGBA

DAILY EDITOR

BOLAJI TUNJI

SUNDAY EDITOR

GBEMI OLUJOBI

SATURDAY EDITOR

LANRE OYETADE

GENERAL EDITOR

DOZIE OKEBALAMA

COORDINATOR, EDITORIAL BOARD

ADESOYE ADEKOYA

CONTROLLER, PRODUCTION

CALLISTUS OKE

EDITORIAL PAGE EDITOR

ISE-OLUWA IGE

ABUJA BUREAU CHIEF

KAYODE BALOGUN JNR

SM, STRATEGIC DEVELOPMENT

FRANK OBOH

HEAD, GRAPHICS

Nigeria: Still a weary giant at 52 CONTINUED FROM PAGE 1

At a lecture held at the Ministry of Foreign Affairs to mark Nigeria’s 51st Anniversary last year, President Goodluck Jonathan had blamed the nation’s glaring retrogression since independence on the elite and weak public institutions. A guest speaker at the occasion, Richard Dowden, the Director of African Royal Society (ARS), London, in his contribution, said the discovery of crude oil in Nigeria has been a curse rather than a blessing to the country. Oil wealth, he said, led to a lack of initiative by successive governments. With President Jonathan leading members of the Federal Executive Council; and other leaders like the Speaker of the House of Representatives, governors, etc. seated during the lecture, Dowden insisted that the discovery of oil had led to widespread corruption and looting of public resources by corrupt government officials; and that major players in the private sector contributed to the country’s poor economic performance through sundry frauds. He said for Nigeria to return to the postindependence era when the country recorded trade surplus, investments must be made with a view to exporting cash crops. The ARS boss did not spare the nation’s National Assembly (NASS), whom he not only

THE COUNTRY… HAD

FOLLOWED THE WRONG ECONOMIC POLICIES FOR POLITICAL REASONS rebuked for earning the highest pay in the world as congressmen, but warned that the country could not continue with the socio-economic disparity between the rich and poor. He stated in addition that Nigeria’s main problem has been its politics, stressing that the country and much of Africa had followed the wrong economic policies for political reasons, a situation he said had accounted for the over 100,000,000 Nigerians living in poverty. Indeed, has Dowden’s most sincere observation brought any changes to bear on the Nigerian situation as the nation’s leaders today roll out the drums again to celebrate its 52nd independence anniversary? Our answer, sadly, is no! There are several retrogressive laws inherited from the British or enacted at the inception of nationhood which hamper growth and development, but which are yet to be repealed. A case in point is the Nigeria Railway Monopoly Act, among several others, enacted in the 1950s. While the government mouths appreciable growth in Gross Domestic Product (GDP);

the real income per capita of the populace remains a sorry spectacle. Life expectancy has dropped tragically and health, housing, potable water, urban sanitation, public transportation, and electricity are in huge deficit. And whereas there appears a little improvement in power supply, though still epileptic, the government, making reference to competitive pricing of electricity, has permitted over 500 percent increase in the cost of the service for both commercial and private consumers, thus making life more unbearable. The country has also fared badly politically with its federalist hypocrisy. The result is over centralization of power that has sustained a do-or-die politics at the centre. Centrifugal forces have become more vicious than ever before. And in addition to pervasive public sector corruption; justice, fairness, peace, and security have also eluded the nation. Widespread unemployment, deprivation and want occasioning mass discontent and frustration, which many finger as the root causes of the Boko Haram insurgence and restiveness in the oil bearing Niger Delta region, have become the order of the day. Proponents of the evolutionary school of progress say Nigeria has had its fair share of meaningful growth and development; though non-ideological and non-rapid in nature. They

canvass that the progressive dwindling of the ideological divide worldwide; the brute fact of market forces now dictating the pace of economic activities, and the rapid growth in the entertainment industry and the telecommunications sector; are indices of positive growth. But Nigerians who wear the shoes know where they pinch most. Getting to the Promised Land, however, demands that the government should radically reform all critical public institutions and make them hasten development and prosperity to free Nigerians from economic deprivation and poverty. There exists the daunting challenge of constitutional amendment to ensure good governance and fiscal federalism. The judiciary must be made to function with zero tolerance for corruption too, while equally far-reaching electoral reforms have become absolutely necessary to sanitize the democratic system such that no section of the country would feel deprived of access to power, which seems the major source of bitterness and festering insecurity in the country. Dealing with the grievances of aggrieved groups, minority rights, indigenes/settler question, poor punishment for corruption and high profile crimes, the devolution of powers from the centre to the federating units; local government autonomy, etc. has likewise become imperative. All the same, we salute Nigeria at 52!

ON THIS DAY October 1, 1960 Nigeria gained independence from the United Kingdom, its colonial master. Officially the Federal Republic of Nigeria, the country is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean.

October 1, 1982 Sony Corporation, a world electronics giant with headquarters in Konan Minato, Tokyo, Japan launched the first consumer compact disc player (model CDP-101). The Compact Disc, or CD for short, is an optical disc used to store digital data. It was originally developed to store and play back sound recordings only, but the format was later adapted for storage of data (CDROM), write-once audio and data storage (CD-R), rewritable media (CD-RW), Video Compact Discs (VCD), etc.

October 1, 2009 The Supreme Court of the United Kingdom took over the judicial functions of the House of Lords. The Supreme Court of the United Kingdom is the supreme court in all matters under English law, Northern Irish law and Scottish civil law. The Supreme Court was established by Part 3 of the Constitutional Reform Act 2005 and started work on October 1, 2009. It assumed the judicial functions of the House of Lords, which were exercised by the Lords of Appeal in Ordinary (commonly called “Law Lords”).

Special Anniversary Edition

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

SPECIAL REPORT ON 10 TOP EXECUTIVE CHAIRMEN OF DISTINCTION IN LAGOS STATE (PART 1) With the emergence of President Goodluck Jonathan as the nation’s helmsman in 2011, it was obvious that Nigeria’s democracy had come to stay. In actualising the dividends of democracy in their various states, the governors took a cue from the President to deploy men and women of integrity with the required technical ability to move the country forward. This, of course, is a departure from the age-long tradition of electing local government chairmen and other public officers into offices on the strength of party affiliations. This and other reasons informed the choice of technocrats into key ministries and local government councils across the country. National Mirror therefore went round the 57 local governments and local council development areas in Lagos State to conduct a “Performance Assessment and Certification Exercise (PACE)” spanning October 2011 till September 2012. Today, we bring to you three of the top 10 Chairmen of Distinction in Lagos State, the Centre of Excellence. They are the Chairman, Apapa Local Government, Hon. Ayodeji Joseph; Chairman of Ikorodu West Local Council Development Area (LCDA), Hon. Olajumoke Jimbo-Ademehin and the Chairman of Olorunda Local Council Development Area, Hon. Amida Abudu. As the chairmen stand up to be counted, it is clear that many of them will answer this clarion call and be among those that have resolved to bring positive changes to their local governments in particular and to citizens of Lagos State in general.

Co-ordinated by Edafe Obaro 08035835058

Hon. Ayodeji is working; Apapa is working

he Chairman of Apapa Local Government, Hon. Joseph Ayodeji, is a man of many parts; not only is he a trained geographer, he has also been at various times in his career, a civil servant as well as a banker. Ayodeji attended Akinsemoyin Primary School, Surulere and the Federal Government College, Ido-Ani, Ondo State, before proceeding to the prestigious Lagos State University, Ojo (LASU) for his Bachelor of Science degree in Geography, and later bagged a Masters degree in Geographic Information Science (GIS) from the University of Lagos. He started his career as a Research Officer in the Lagos State Ministry of Physical Planning, before crossing over to the finance sector, where he worked with GT Bank and rose to the position of Head, POS Installation and Support Unit. In 2005, he co-founded the Kakanfo Support Group/Friends of Tinubu (FOT), a political platform in support of

the aspiration of Senator Bola Ahmed Tinubu. He was sworn in as chairman of Apapa Local Government in October 2008, with the express mandate to deliver the dividends of democracy to the people of the local government. The administration of Hon. Ayodeji has positively affected all facets of life in the local government, as he has improved the infrastructural facilities of the area. Under his leadership, Apapa has witnessed the rehabilitation of many roads, the construction of 35 roads, and the construction of standard drainage systems to reduce the perennial flooding of roads, the provision of 5,000 pieces of school uniforms to over 3,000 pupils spread across the eight primary schools within the local government. This is in addition to providing two school buses to convey pupils to and fro their schools free of charge. The administration also provided a 40-horse power outboard engine to power the 52-seater school boat

Hon. Joseph Ayodeji

for the Nanti Village Primary School in a coastal community of Apapa Local Government. The finesse of the leadership style of Hon. Ayodeji has endeared him to both

the residents and business community alike. Never has Apapa witnessed the kind of support it now enjoys from the business community following the number of projects being carried out in different areas of the local government e.g. beautification of roundabouts and road medians, construction of drainages, donation of blocks of classrooms, etc. His style of leadership has also opened the business horizon of Apapa up so much that the endemic chaotic traffic situation is now reduced and businesses are now thriving. He has won many awards both at home and abroad, including the Best Chairman (Road Development) by Child Life International Fund Foundation in 2012; the Most Outstanding Chairman in Lagos/South West Nigeria by NANS in 2009, as well as the Best Local Government Chairman in Lagos State by Africa Mouthpiece International in 2010. He is married and has children.

Hon. Abudu Amida: Rural transformation at its best

he Chairman, Olorunda LCDA, Hon. Abudu Amida, was born in Ibereko community in the Badagry area of Lagos on March 31, 1964. He attended Local Authority Primary School, Ibereko (1972-1978) and proceeded to Araromi Secondary School, Sari-Iganmu (1980-1985). After completion of his secondary education, he went into business. He was in business until he was called to aspire for the chairmanship of the Olorunda LCDA when it was newly created. After the electioneering, he was appointed the Deputy Executive Secretary by former Lagos State Governor, Asiwaju Bola Ahmed Tinubu, and later chosen as a runner-up to the chairman in 2004. After working in that capacity for about five years, he aspired to be chairman again, and this time, won the mandate to become the chairman of Olorunda Local Council Development Area for the period 2008-2011. He later re-contested and won again, and till date remains chairman of the LCDA. When he took over as the chairman of the council, it didn’t take him much time to work in the office because he had adequate experience in the past on the local government administration.

Hon. Abudu Amida

The chairman maintains a cordial relationship between himself and his deputy. And since assumption of office, the current team has done quite a lot. The chairman’s office in the LCDA was built in the first 100 days in office. It is also on record that his leader-

ship helped in the reconstruction and rehabilitation of primary schools in all wards of Olorunda LCDA. It went ahead to sink boreholes at Ibereko Market and fixed street lights in strategic places. It also established a skill acquisition centre being managed by the LCDA, which is first of its kind in Nigeria. Importantly, it must be pointed out that the participants do not pay anything to enjoy the training while the turnout of students is very encouraging. The LCDA spent N150,000 as administrative cost monthly, which is to cater for the centre’s principal and instructors. The principal receives N65,000 while the instructors are paid N25,000 or N20,000 depending on their qualifications. The council also established ICT centres in some of the primary schools and is responsible for the payment of the emoluments to the instructors. The pilot scheme is at Salvation Primary School in Ibiye. There is one in Local Authority Primary School, Morogbo, and others are set to come up in Ilogbo Eremi and Ibereko. Tokens are also given to the widows in Olorunda LCDA, with about 68 of

them being presently catered for. “Our very common challenge here is funding. There are some areas that the LCDA has to look into and these areas span security, health, education and it is only by servicing these basic needs that the people will feel the impact of governance. “If there are inadequate funds, it will be difficult to work efficiently. As we all know, the grassroots is the third-tier of government and is the nearest to the people. When they are clamouring for roads, employment, health and other basic needs, their first port of call is their local government. We appeal to the Federal Government and states in this wise to provide more funds for the local governments to enable them work to their full capacity,” he said. He added: “We are in the rural setting, although the urban migration to the rural setting in Lagos State is becoming high, this is yet to directly improve our Internally Generated Revenue, IGR, but it is getting better than what we generated before.” On a final note, the chairman posited that we should all wait for our time and while waiting, we must be very productive.

National Mirror www.nationalmirroronline.net

Special Anniversary Edition

Monday, October 1, 2012

Hon. Jimbo-Ademehin: Transforming Ikorodu

he Chairman of Ikorodu West Local Council Development Area, Hon. Olajumoke Jimbo-Ademehin, holds grassroots development high towards genuine and sustainable national growth. As such, at the Ikorodu West LCDA, she strives relentlessly to achieve this all-important grassroots growth and praises God for right guidance. Governance at the grassroots is a very tasking service and it is only leaders who are committed and experienced that will be ready to take up the office. In terms of structure, it is instructive that the local government is the nearest to the people so the pressure is mostly at the bottom. But Jimbo-Ademehin admits that it could be rewarding as many of the works done at the community level are direct and are appreciated by people. However, insufficient funds plague the efficiency of LCDAs. There are many projects the chairman intends to execute, which require huge funding but because she has to manage the resources at her disposal, she can only go so far in providing services to the people. In the case of Ikorodu West LCDA, the achievements of Hon. Jimbo-Ademehin can be attributed to her long years of experience in the system and this is what distinguished her from others. She was once a vice chairman in Ikorodu Local Government Area, and has also worked as a caretaker while doubling as the Supervisor for Works. One of the predominant challenges fac-

ing this LCDA is that of road networks. People have complained bitterly about this shortcoming and according to Jimbo-Ademehin, “we are set to provide solutions to this problem among other topmost subjects of the LCDA.” If one takes a good look at some of her projects, it will be discovered that a higher portion is centred on the rehabilitation of roads and improvement of road networks. Despite her short stay in office, she has been seen as ever humble along with her team of council officials, who have contributed immensely to the growth and development of Ikorodu West LCDA through the provision of effective programmes to the people. The services the LCDA has provided for the people under her cut across many sectors: In the health sector, the first thing she did when she assumed office was to resuscitate the Mobile Clinic Initiative. Apart from this, she made provision for free drugs in all health centres belonging to the area, namely; Ward A - Ikpakodo; Ward B - Majidun; Ward D - Ajaguro and Ward E - Igbo Olomu. As regards the remaining wards under her purview, she has been able to reach them through the mobile clinic. Education-wise, Jimbo-Ademehin has distributed free notebooks, mathematics sets and other stationeries to students in order to encourage them, as they are the leaders of tomorrow. This particular project is among the series of initiatives that kick-started the 100 days in office celebrated this year under her leadership. Again,

Hon. Jimbo-Ademehin

the LCDA under her pays regular visits to schools to monitor performances of both teaching staff and students. “We have done exceptional work on road rehabilitation in Ikorodu West LCDA. Among the roads that were rehabilitated are Bamosun Street, Apena Jimbo, grading of London Barber Street and Oliwo Idikan Street as well as the rehabilitation of Taiwo Molajo to Ajose Road, which is a major access to the agriculture area of Ikorodu. “Here in the Ikorodu West Local Council Development Secretariat, so many repairs have been done to give aesthetics to the council and upgrade it to meet standards. We have repaired six abandoned vehicles belonging to the council, rehabilitated the staff toilets, purchased working tools to aid operations

of the Environment Department on sanitation days, provided security equipment for security personnel, purchased two buses for the collection of internally generated revenue, and seen to the fitting of ultramodern doors and the provision of computer systems for office use to enhance productivity and efficiency in the council,” she stated. She added: “Apart from all this, we also engage our staff in different trainings in order to boost their working capacity. “The LCDA is also not left out in sports. Just recently, the LCDA won the Lagos State Speaker’s Cup in the male category and came second in the junior league of the same competition so you can see how allround we are.” She advised that the state government should make laws that would guarantee local government autonomy to enable them function effectively. “The Local Government is not only the nearest government to the people; it is also the one that faces the highest demands and pressures from the people,” she said. When officials of the state government visited the LCDA, it was obvious that justice was done to the funds provided the LCDA by the state, especially considering that the LCDA is a developing one with the internally-generated fund equally growing. The chairman believes that with what they saw, “they will be willing to provide us with more funds so that we can keep on with the good service of providing the citizenry in the council with all the basic welfare services they deserve.”

Community Mirror

Driver in dock for stabbing friend CAROLINE CHUKWUKA

22-year-old trailer driver, Tomola Ikuemeonisan, has been arraigned before a Lagos State High Court sitting in Igbosere, for alleged murder of one Simeon Okoboh, by stabbing him in the neck during a fracas.Ikuemeonisan who is presently remanded in Ikoyi prison, is facing a one-count-charge of murder but when his plea was taken before Justice Ebenezer Adebajo, he pleaded not guilty to the charge read to him in Yoruba. The charge reads: “Tomola Ikuemeonisan (m) on or about the 3rd day of January, 2009 at Sakpo Beach, Badagry, Lagos, in the Lagos judicial division murdered one Simeon Okoboh (m)” an offence said to be contrary to Section 319 (1) of the Criminal Code Law Cap. 17 Vol. 2 Laws of Lagos State, 2003. It was gathered the accused and his friends, including the deceased, went to Sakpo Beach,

Badagry in a bus and when they were about leaving, quarrel ensued which led to a fight. The fight was said to have been caused by another boy who slapped a female photographer, for refusing to pay for a photo shot. This led to intervention of the accused and his friends and eventually creating a brawl amongst those at the scene. In his confessional statement to the police, the accused said, it was another boy that broke a bottle of hot drink which he used in stabbing the deceased in the neck, adding “it was only once I stabbed him. The rest of our people came down from the vehicle and starting beating and finally dragged me to a nearby police post.” According to him, the deceased led the group that went to the beach and wanted them to board their bus and not fight but he mistakenly stabbed Simeon Okoboh,as it was already dark and visibility was poor making it difficult to properly identify him.

Long queque at a filling station in Mushin, Lagos PHOTO; OLUWASEGUN IJABIKEN

A LAWMA highway manager on duty at Agege market, Lagos. PHOTO; OLUWASEGUN IJABIKEN

Katsina to improve water supply JAMES DANJUMA, KATSINA

atsina State is to spend N262.2 million for the execution of various water projects as part of efforts to improve supply of potable and irrigation water. Speaking on the issue, the Information Commissioner, Sani Gide Batagarawa, said approval had been given for the construction of 16 mechanical windmill powered boreholes in the state at cost of N96.3 million. Batagarawa, said the projects would be located at the Federal University, Dutsinma, Danmusa, Batagarawa, Kukat Bayangida in Jibia council area, Kandawa in Batsari and Charanchi, all in Katsina Senatorial zone. Similarly, other water projects to

benefit include Dutsi, Kafin-Dangi in Kankia and in Bindawa town, all in Daura zone. The information commissioner also said the areas to benefit from the water projects in Funtua zone are Dandume, Yartanmiya in Kankara, Danja, Sabuwar Kasa in Kafur Local Government and Jikamshi in Musawa Local Government Area. He said these projects would be completed in three months from the date the contract award. He said the state had approved contract for the construction of Yankara semi-urban water scheme at cost of N166.1 million to be executed in four months, even as various water contracts were awarded by the government due to i concern to meet water needs of people

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

A2 22

Business Courage

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Cover

Still dwarfed in a At 52, the Nigerian economy is still a far cry from what it should be. Poverty continues to ravage the land even as joblessness becomes a daily source of worry. In between, the real sector, the actual source of strength and economic prosperity for serious-minded nations is collapsing like pack of cards, just as the small scale enterprises have virtually gone extinct. Indeed, the indices are becoming increasingly scary, yet, all what Nigerians get are mere promises. How many more years would Nigerians wait to savour the pleasure of an independent nation? By Salami Semiu

oday, October 1, 2012, Nigeria celebrates the 52nd anniversary of independence as a nation with one of its most notorious characteristic features, acute fuel shortages and its attendant socio-economic dislocations. From Lagos, Nigeria’s economic hub to other states Ogun, Oyo, Abuja, Rivers, Kwara and Kano, long queues of motorists struggling to buy petrol have in the past few weeks become common sights, with economic activities virtually grinding to a halt. Pump price of the Premium Motor Spirit (PMS), otherwise called petrol, which was raised to N97 in January this year now sells for between N105 and N120 per litre. The situation is increasingly becoming very precarious, with government appearing not to have what is required to face and address the situation. An economic analyst who would not want his name in print told Business Courage last week that the current unfortunate state of affairs is as paradoxical as it is embarrassing to many Nigerians 52 years after independence. According to the analyst, this is particularly worrisome especially in view of the fact that even at in-

dependence, “all known indicators that Nigeria would become a great African country within a very short time were very clear.” At independence, Nigeria was thought to have sound economic infrastructure, a strong agricultural sector, and vast proven oil reserves which was just discovered in the Niger Delta. But sadly, though, since 1960, the Nigerian economy, rather than progress, has not simply stagnated, but it has actually contracted. According to the World Bank, Nigeria’s per capita gross domestic product (GDP) declined from $1,113 in 1970, 10 years after independence to $1,084 in 2000. By 2008, the GDP per capita had risen to just over $1,400. In 2010, it stood at $2,748, but still falls behind that of Ghana and Cameroun with $10,748 and $10,758 respectively. In the current year, the figure is estimated to have pkunged to $1,180. While the economy has deteriorated, poverty levels have risen. The percentage of Nigerians living on less than $2 per day has increased from about 36 per cent in 1970 to nearly 70 per cent in recent times. Nigeria currently ranks 158th out of 177 countries on the United Nations’ Human Development Index (HDI), worse than many

African countries without its oil wealth. As of 2007, only 47 per cent of the country’s population had access to a safe source of drinking water, well below the sub-Saharan country average of 58 per cent and the current figure is said to be lower than 40 per cent. Even more astonishing, life expectancy at birth in Nigeria is only 47 years. Oil, Nigeria’s major foreign exchange earner was first discovered in 1956 but extraction did not begin until 1958, two years before independence and today, Nigeria is sub-Saharan Africa’s largest and the world’s

Business Courage A Publication of GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, OFR  PUBLISHER SEMIU SALAMI BAMIDELE OBAFEMI ADEJUWON OSUNNUYI FESTUS OKOROMADU TAYO ADELEKE

EDITOR ASSOCIATE EDITOR STAFF WRITER STAFF WRITER SENIOR REPORTER

OLATOYE RAPHAEL SEYI OKUMODI

HEAD, PRODUCTION SENIOR GRAPHIC ARTIST

National Mirror www.nationalmirroronline.net

Business Courage

NIGERIA @ 52

Monday, October 1, 2012

A3 23

Cover

dversities

less civil war which the country and a cream of military insurgents plunged the country into in the late 60s. Though the end of the civil war brought a new phase of economic optimism in Nigeria, the fortunes that came with the oil boom were poorly managed. Between 1973 and 1979, the high oil price in the global market necessitated in a massive influx of oil revenues to the Federal Government, which in response, began a lavish spending, committing huge resources to large scale infrastructure projects. It was also at the time that the government embarked on what an analyst called “an ultimately disastrous programme of state run industrialization.” The slogan at the S/NO

15th largest oil producer, with an output of 2.1 million barrels per day. Yet, rather than generate wealth and stability for the country, Nigeria’s oil wealth, like an analyst said last Friday, “has created and exacerbated problems that similarly diverse but resource poor African countries have been better able to confront since independence.” Indeed, many people believe that Nigeria is a classic case of what has come to be known as the resource curse, the observation that countries rich in natural resources like oil, diamond, or natural gas often

perform worse in terms of economic development and good governance than do countries without these resources. The example of Ghana is once again a point of comparison. Ghana’s mineral resources, including gold and diamonds, are minimal in scale compared with Nigeria’s oil reserves. However, Ghana outperforms Nigeria in GDP per capita, life expectancy and on many measures of democratic quality. However, many analysts are of the opinion that the current state in which Nigeria finds itself can be traced to the need-

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

NAME OF BANK UNDER LIQUIDATION Abacus Merchant Bank Ltd ABC Merchant Bank Ltd African Express Bank Ltd Allied Bank of Nigeria Plc Allstates Trust Bank Plc Alpha Merchant Bank Plc Amicable Bank of Nigeria Plc. Assurance Bank of Nigeria Plc Century Merchant Bank Ltd. City Express Bank Plc Commerce Bank Plc Commercial Trust Bank Ltd Continental Merchant Bank Plc Coop. & Commerce Bank Plc Credite Bank Nig. Ltd Crown Merchant Bank Ltd. Financial Merchant Bank Ltd. Great Merchant Bank Ltd. Group Merchant Bank Ltd. Gulf Bank Ltd Hallmark Bank Plc Highland Bank of Nig Plc ICON Ltd. (Merchant Bankers)

time was “Money was not the problem but how to spend it”. During the oil boom, Business Courage findings reveal that Nigeria’s capital stock grew at an average rate of 14 per cent per year, leading to an astonishing tripling of Nigeria’s capital stock in only eight years. Sadly, however, in spite of the high levels of government spending, Nigeria emerged from the decade with little to show in the way of economic productivity, such that by the end of the 1970s, manufacturing had begun to stagnate. Capacity utilization in manufacturing, a sector largely owned by the government, declined from an average of 77 per cent in 1975 to less than 40 per cent by the mid 1980s. Thus, the gap between the potential DATE OF CLOSURE Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 1998 Sept. 08, 1994 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 21, 1994 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 1998

S/NO 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45

output that could be generated with existing infrastructure and the actual output produced became much wider during this period. Unfortunately, the oil boom ended as abruptly as it began when the price of oil fell in 1981. Between 1980 and 1982, oil revenues declined by 53 per cent and the government’s inability to manage the economic crisis encouraged the military to seize power again in December 1983, followed by another military coup in 1985. Military rule continued throughout the 1980s and 1990s, with the exception of an abortive effort to re-establish democracy in 1993 that lasted for less than two weeks in 1993. Nigeria’s Fourth Republic

NAME OF BANK UNDER LIQUIDATION Ivory Merchant Bank Ltd. Kapital Merchant Bank Ltd. Lead Bank Plc Lobi Bank of Nig. Ltd. Mercantile Bank of Nig. Plc. Merchant Bank of Africa Ltd. Metropolitan Bank Ltd. Nigeria Merchant Bank Ltd. North-South Bank Nig. Plc. Pan African Bank Ltd. Pinacle Commercial Bank Ltd. Premier Commercial Bank Ltd Prime Merchant Bank Ltd. Progress Bank Ltd. Republic Bank Ltd Rims Merchant Bank Ltd. Royal Merchant Bank Ltd. Trade Bank Plc United Commercial Bank Ltd. Victory Merchant Bank Ltd. Eagle Bank Plc. Liberty Bank Plc.

DATE OF CLOSURE Dec. 22, 2000 Jan. 21, 1994 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Jan. 16, 1998 Dec. 22, 2000 Jan. 16, 1998 Jan. 16, 1998 June 29, 1995 Dec. 22, 2000 Jan. 16, 1998 Jan. 16, 2006 Sept. 8, 1994 Jan. 16, 1998 Jan. 16, 2006 Jan. 16, 2006

A4 24

Business Courage

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Cover Textile companies liquidated Aba Textile Mills Plc Afprint Nigeria Plc Asaba Textile Mills Plc Bholsons & Company (Nigeria) Ltd Enpee Industries Plc Excelsior Garment Factory Ltd GDM Textiles Manufacturing Ltd Haffar Industrial Co Ltd Horizon Fibres (Nig) plc Jaybee Industries Nigeria Ltd Kaduna Textiles Ltd Lucky Fibres (Nig) plc Millet Nigeria Ltd Nichemtex Industries Ltd Nigeria Textiles Manufacturers Association Nigerian Textiles Mills Plc Nitol Textiles Manufacturing Co NIG Ltd Nortex Nigeria Ltd Northern Nigeria Textile Mills Ltd Novelty Industrial Co Ltd President Clothing Co Ltd Prestige Industries Ltd Rola Stores Ltd Nigeria Specomill Textiles Ltd Stretch Fibres (Nig) plc Sunflag Knitting Mills Nigeria Ltd

Generator economy

Groundnut pyramid of yester years

Defunct Nigeria Textile Mills Plc

began with the country’s deep economic crisis, with decaying infrastructure, and weak political institutions. During Obasanjo’s years as president between 1999 and 2007, civil liberties improved and several major macro economic reforms were credited with reducing inflation and attracting higher levels of foreign investment. Yet, the Obasanjo’s government performed far less well in curbing government corruption and improving living standards for ordinary Nigerians, “One of the clearest manifestations of the gap between the promise and the reality of Nigerian government is the weakness of the Nigerian state. Development analysts however insist that where the country got it entirely wrong was the failure of the government to sustain the regional economic power structure which Nigeria operated from independence. At that time, the Northern region was reputed for the groundnut pyramid, the same way that the Cocoa plantation was for the West. Rubber from the Midwest and the Palm Oil and coal from the East, all ensured that each of the regions was able to develop themselves according to their capabilities and independent of the central government. But the oil money changed the calculation, thus turning the country into a mono-product country. However, while the debate about whether Nigeria is a failed state or not has continued to generate heated debate, the 2009 Fund for Peace ranking of Nigeria as the 15th weakest state in the world, performing worse than the majority of sub-Saharan African countries has remained a sore point. The Fund for Peace’s “Failed States Index,” ranked 177 countries according to the stability and effectiveness of their governments, with Somalia, a country that has been without a functioning central government since 1991, ranked as the weakest state, while Norway, a prosperous welfare state and consolidated democracy, was

Textiles Manufacturers Association (Nigeria) United Nigeria Textiles Ltd {UNT} United Nigerian Textiles Plc Universal Textile Industries Ltd Other collapsed Companies Nigercem Plc, Albarka Air Plc, Foremost Diaries Plc, Wiggins Teape Nigeria plc, Okitipupa Oil Palm Plc, First Capital Investment, Trust Plc, Flexible Packaging Plc, Netpak Plc, Krabo Nigeria Plc Tropical Petroleum Plc. Ferdinand Oil Mills Plc; Footwear Accessories Manufacturing and Distribution Plc; BCN Plc; Chrislieb Plc; Epic Dynamics Plc; Liz Olofin and Company; Oluwa Glass Company Plc Asaba Textile Mills Plc

listed as the most sustainable state. The index rated several of Nigeria’s main institutions, including the police, the judiciary, and the civil service, as among the weakest in the world. Perhaps, the most symbol of failure of past governments in Nigeria remains the failure to solve the perennial problem of electricity to a vast majority of Nigerian homes and businesses. In fact, it is estimated that only 36 per cent of Nigerians have regular access to electricity from the national electricity monopoly, the Power Holding Company (PHCN). Most Nigerians experience daily power outages, disrupting productivity activity and causing those who can afford them to invest in expensive private generators. In 2009, parts of Lagos, the capital city, went without power for an entire month, and many rural areas go without power for days or even weeks at a time. Yet, Nigeria’s electricity generation capacity is ten times smaller than South Africa’s, a country with one third of Nigeria’s population. Indeed, the failure of successive administration to tackle the issue of electricity generation and distribution has remained a serious impediment to Nigeria’s economic growth and sustainable development. In the past years, the poor social infrastructure like electricity has often been linked to the collapse of several industrial concerns, local and even multinationals manufacturing companies. The real sector has been the worst hit. While multinational manufacturing companies like Dunlop Plc and Michelin, all tyre and adhesives manufacturers have had to relocate outside Nigeria, sometimes to a smaller but economically better managed countries like Ghana, a lot more others have either collapsed or liquidated, and the list cuts across all sectors of the Nigerian economy. So far, about 45 banks have since gone under, either through regulatory issues or as a result of their inability to cope Continued on Page A6

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

A6 26

Business Courage

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Cover Continued on Page A4 with the challenges of the operating environment. In all these, however, the textile industry, hitherto, Nigeria’s highest employer of labour and the biggest industrial concern in Nigeria has remained the single largest victim of the country’s economic malaise. Till date, about 30 textile and associated companies have closed shop, 29 others in airline, oil and gas, cement, finance and investment as well as cottage industries have since gone under. Similarly, 224 microfinance and mortgage banks have equally shut their doors. (See box). All these perhaps, explain why the country’s ranking in the business competitive index has not been very exciting. In the World Bank’s “Ease of Doing Business” ratings, Nigeria, both in 2011 and 2012 is ranked 133 out of the 183 global economies ranked under the ease of doing business categorisation. The recent effort to raise the bar in electricity generation and distribution is anchored on the much publicised “Power sector roadmap” whose architect, Professor Barth Nnaji had to unfortunately hurriedly quit the cabinet over issues bothering of conflict of interest, is being looked up to as the saving grace. Just last week, the National Council on Privatisation, the group of select privileged Nigerians headed by Nnamadi Sambo, Nigeria’s Vice President gave out six power generation companies unbundled from the Power Holding Company of Nigeria to the same set of Nigerian entrepreneurs that have held the country by the jugular for several years now. The process which is to earn the government no fewer than $1.62 billion (about N254.39 billion) saw powerful Nigerian investors emerge winners for the Power Holding Company of Nigeria, PHCN, five successor Generation Companies, Gencos.. Big names in the nation’s corporate world such as Tony Elumelu’s Transcorp, Femi Otedola’s Forte Plc grabbed some of the big companies expected to become money spinners in the years ahead. The Transcorp and Wood Rock, with Elumelu as chairman, won the bid for Ughelli Power Plc with a bid price of $300 million. Similarly, Amperion Power Distribution Ltd, in which consortium, Femi Otedola’s Forte Oil Plc is a member, won the bid for Geregu Power Plc with a bid price of $132 million for 51 per cent of the company’s shares. Amperion offered $128.520 million for the majority stake in the company but was asked to review its bid because the original bid was below the reserved price. Sapele Power Plc went to

Babangida

Jonathan

CMEC/EUAFFRIC Energy with a bid price of $201 million as preferred bidder, while JBNNestoil PowerServices Ltd was declared reserved bidder with $106.5 million. JBN-NestOil Power Services Ltd initially offered $80 million for the plant but was told to review the bid upward to at least match the reserved bid price of $106 million. Mainstream Energy Solutions, promoted by former Kano State military Governor, Col Sani Bello (rtd), won the bid for the concession of Kainji Power Plc at $50.760 million fixed annual fee and a commencement fee of $37.8 million. Mainstream consists of nine companies with RusHydro International and RusHydro JSC of Russia in the team to provide needed technical know-how. Others are: Amni International Petroleum Development C. Ltd, NIGLEC, Aqua Energy, Confluence Cable Network Ltd, TAK and Anchorage Holdings Nigeria. Similarly, North-South Power, said to be promoted by a former Head of State, Retired General Ibrahim Babangida won the concession bid for Shiroro Power Plc with a bid price of $23.602 million fixed annual fee and a commencement fee of $111.664 million. The NorthSouth Consortium is made up of XS Energy Ltd, BP Investment Ltd, Urban Shelter Ltd, Transatlantic Development and Investment Co., China International Water Electric, China Three Gorges Corporation, Niger State government and Roads Nigeria Plc. Interestingly, privatisation of government institutions has been a major source of revenue earner for the country in past years but the experiences from past endeavours have not

been particularly satisfactory. Whether the current effort, particularly as it affects power, a critical sector, which successive governments have failed to rescue, will yield the desired result is what many Nigerians eagerly awaits. Expectedly, the capacity and integrity of the Nigerian government has been badly undermined by the government’s inability to address some of the very basic fundamentals critical to the improvement of the Nigerian economy. Besides, Nigeria’s public officials are consistently ranked as among the most corrupt in the world with the weakness and corruption of the Nigerian government believed to have contributed to the decay of public infrastructure over time. In Nigeria, analysts believe that government enjoys little legitimacy in the eyes of ordi-

Shamsudden Usman Minister of National Planning,

nary citizens and justifiably so. According to a survey by Afrobarometer, Nigerians have the lowest level of trust in their government. In one of its recent survey, Afrobarometer says only 26 per cent of Nigerian survey participants said that they trusted the president, and only 22 per cent trusted members of the national assembly. This is in sharp contrast with the situation in Ghana, which has 75 per cent of its citizens trusted the president, and 68 per cent trusted the legislature. “Even Zimbabwe, a country that has witnessed extreme abuses of power by its government in recent years, fared better, with 31 per cent trusting the president and 35 per cent trusting the legislature,” said the source. However, the story may not be a completely negative one after all. Analysts say that the maritime industry, for instance, appears better off, especially with the opening up of the industry for foreign expertise, investment and capacity building. Experts particularly commended the ports reforms which, in their views, not only took away the terminal operations from the Nigerian Ports Authority (NPA), but also established concessionaires who were better experienced, in addition to having better access to funds with which they had uplifted the nation’s

ports operation. International Maritime Organisation (IMO) Consultant, Captain Solomon Omoteso said the various initiatives in the industry has boosted activities as can be seen in terms of the number of ships and in terms of tonnage too calling on the Nigerian ports. “Shipping activities has also been raised to a remarkable level. We have larger ships now freely and frequently calling on our ports because the channels are better dredged now than before. We have more functional boats for a more competitive pilotage regime now than before. And we also have better cargo handling plants and equipment than before. Before the advent of democracy, the industry was a lot bottled in; now it is not!” he said. But for Engineer Reginald Onyenobi, a Maritime Consultant, the Nigerian maritime sector over the past 52 years, is like a wave moving up and down in the river based on the emergence of regulations and the non- implementations of the various regulation. “I will say in the era of the national shipping line, the sector trained a lot of Nigerians in the area of human capacity compared to now where there is no national carrier. Back then, the country cannot boast of a certified chief engineer near coastal voyage. There has been a great improvement in the institutions, as a large number of academies now train students for the industry, though the certificates are not so recognized. Above all, country with over 25 vessels as at then and there is none today definitely shows that the nation’s maritime sector has failed. We expect that from 25 vessels, we should have been talking about over 100 vessels at the moment,” he said. BC

National Mirror www.nationalmirroronline.net

Business Courage

NIGERIA @ 52

Monday, October 1, 2012

A7 27

News ensure effective security of the nation. NAN reports that security agencies operating at the border post include SSS, Port Health, NDLEA and Immigration Service.

Gombe govt. floats N20bn bond for capital projects

Tunde Bowler

LIRS closes 13 companies over N140m tax evasion

wanting in this regard will be dealt with accordingly,” she said.

hirteen companies have been shut down by the Lagos State Internal Revenue Service (LIRS) for defaulting to pay over N140 million company tax. Folasade Coker-Afolayan, Head of LIRS Distrain Unit, disclosed this to the News Agency of Nigeria (NAN) in Lagos last Friday. She said that these companies, which were not legally known to the state government, were shut down between Sept. 17 and Sept. 26. According to CokerAfolayan, who led the enforcement team, she said that these companies owe taxes ranging from one to six years, adding that operating a company without proper authorisation from the state government was a criminal offence. “It is only the state government that is authorised to unseal these companies after remitting their taxes to government coffers,” she said. Coker-Afolayan advised companies to get approval of the government before operating and also remit their taxes promptly to avoid closure of their companies. “It is better for companies to pay their taxes as at when due to avoid any sanction and by extension, loss of productivity,” she said. Coker-Afolayan said the actions of the agency followed an order from the State High Court and were in accordance with the Personal Income Tax Amendment Act of 2011. She said the act provided that the LIRS could apply to the court for a warrant to close down companies defaulting in tax remittance. Coker- Afolayan described the state-wide company tax enforcement drive as successful and advised taxpayers to cooperate with officials of LIRS. “It is unlawful for anyone to assault tax officials while performing their lawful duties. “Henceforth, anyone found

Dikko

NCS warns smugglers to keep off Seme border

thman Salleh, the Area Controller, Nigeria Customs Service (NCS), Seme Border Command has warned smugglers to stay clear of the border post. Salleh who stated this on Friday stated that ``any smuggler hoping to use border post to perpetrate illegal trade should have a rethink.’’ ``During my tenure as the controller of the command, there will be no hiding place for smugglers and their nefarious activities,” he said. Salleh, who recently took over the leadership of the command from Sadiq Sahabi, planned to hold an enlightenment and awareness campaign with all traders on the need for legal businesses at the border. ``First and foremost, I will carry out enlightenment and awareness campaign among traders at Seme border to sensitise them on the need to transact legal business,” NAN quotes the controller as saying. He urged traders not to evade customs duty, saying that the proceeds from the duties were being used for infrastructure development of the nation. He called for the cooperation of other security agencies at the border post to

he Gombe State’s Commissioner for Finance, Muhammad Hassan last Friday said that the state government had issued a N20 billion bond to finance capital projects in the state. Hassan disclosed to newsmen in Gombe that the bond issuer, being Gombe State Government, would be able to repay the debt investment loan in seven years. Hassan said that the seven years maturity for the longterm investment bond was convenient for the state to repay it. According to him, Gombe will be among the few states in the country that will have successfully posted a bond on the capital market.``This bond derives from our experience and exposure about sourcing for funds on long-term financing structures and also about developing our capital market,`` he said. The commissioner explained that the bond was obtained to meet ``the quantum of development needs” that Gov. Ibrahim Hassan Dankwambo planned for the citizens’ benefit. ``Though the size of the bond we are targeting is N30 billion, the House of Assembly only appropriated N20 billion in the 2012 Budget of the state. ``The remainder will be raised in the subsequent years, `` he explained. He assured the people of the state that the government would utilise the bond loan specifically to provide infrastructure for them.

Dankwambo

Enterprise Bank celebrates Customer Service Week

s a way of appreciating its customers for their

loyal patronage over the period, Enterprise Bank Limited (EBL) will join the rest of the world to mark the annual Customer Service Week themed “Be the One.” The event, which is celebrated in the first week of October every year, is a unique period when service organisations and global agencies extol the patronage and loyalty virtues of their esteemed customers by introducing several unique and special activities to appreciate the customers. As a way of making this year’s edition a memorable one for its customers, Enterprise Bank, has lined up a number of activities to celebrate and appreciate them. Some of the activities, which will be implemented during the period, include elaborate decoration of branches, complimentary candies, sweets, chocolates and branded writing pens among others for walk-in-customers during the period. A statement from the Corporate Communications Department of the bank said that the Customer Service Week has again provided a good opportunity for every staff, unit, department, group and region of the bank to delight its customers. The statement added that this objective will be fully accomplished during the week because every staff has been primed to do no less than deliver the best during the period as is the Enterprise Bank tradition.

Court throws out N100m claim against EFCC

Federal High Court in Lagos last Friday struck out an application by a Deputy Manager of Keystone Bank, Olajide Oshodi, for an enforcement of his fundamental human rights. The application, filed on July 2, was adjourned three times, but the applicant was absent from the court. Justice Okon Abang ruled that the application was struck out for lack of diligent prosecution. Oshodi had applied to the court for an enforcement of his fundamental human rights, against the Economic and Financial Crimes Commission (EFCC). The applicant had sought for an order of perpetual injunction to restrain the EFCC from arresting and detaining him. The applicant had also made a N100 million claim against the respondent as damages for an alleged infringement on his rights.

Oshodi

Oshodi alleged in his application that he had been frequently arrested by the respondent unlawfully at the instance of two customers of the bank. He alleged that in 2008, he offered professional advice to Dozzy Oil & Gas Ltd, and one Daniel Chukwudozie, with regards to purchase of shares from Nulec Industries Plc. The applicant said the transaction was purely civil and was documented, and the shares duly allotted to customers commiserate with the amount paid by them. He said shortly after the transaction, the Nigerian stock market suffered an unprecedented crash which affected all investors in the form of price drop and liquidity of shares. He said the loss led the customers to express regrets over their involvement in the transaction and requested for a refund of monies paid. “The customers expressed regrets over the investment and allotted all faults to me for not facilitating their claim against Nulec Industry Plc and keystone bank,” he said. He said that the customers had employed the services of EFCC to harass and arrest him.

Orya

Artistes deny benefitting from NEXIM Bank’s N700m

ome stakeholders in the Nigerian movie industry last Friday refuted claims by the Nigerian Export-Import (NEXIM) Bank that the organisation had disbursed

A8 28

Business Courage

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

News be charged for the production of condensate from bigger oil fields and for companies that operate in “ultra-deep water,” the ministry said. “Royalty by production, as outlined in the bill, is designed to capture the output of a company as opposed to its location, while creating a fair balance between small and big operators,” Alison-Madueke said.

Nigerian Cocoa output may rise 20 per cent in 2012-13 Season

L– R the picture shows the Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar Onyema; President, NSE, Aliko Dangote and Council Member, NSE, Victor Ogiemwonyi at the Nigerian Stock Exchange Annual General Meeting (AGM) in Lagos on Friday.

N700 million loan to the entertainment industry. The President of the Association of Movie Producers (AMP), Zik Okafor, who spoke with journalists in Lagos on Friday said that none of its 1,005 members obtained any loan from NEXIM bank.“As far as I know, no AMP member was given any loan because the bank was not forthcoming,” Okafor said. It would be recalled that the Managing Director of NEXIM Bank, Roberts Orya, had on Sept. 21 said that the bank had disbursed N700 million out of the $200 million facility earmarked for the entertainment industry by the Presidency. Also, Isioma Williams, Lagos State Chairman, Guild of Nigerian Dance (GOND), said that the association did not get anything.``I don’t think that the fund was really to support the industry; I think it was made for some individuals.We have been tossed around too often through the Corporate Affairs Commission (CAC), asking for one thing or the other by the bank. The government registered a lot of associations and guilds in the entertainment industry which were not known to us who are practitioners. He said that ``the government seems not serious about helping the industry, adding that “If the government really meant to fund the industry, they know how to reach us”. An actor, Tony Ogom, told NAN that it was not enough for NEXIM Bank to just claim it had disbursed some money ``it should name the beneficiaries”. Agom then urged the authorities to publish the criteria used in giving out the money NEXIM claimed it had

disbursed, adding that ``the whole thing is shrouded in secrecy. ``They should also tell us how much each person got and what the person is using the money for and what job that was lined up,” said the artiste. The Publicity Secretary, National Association of Theatre arts Practitioners (NANTAP), Ozi Okoli, also told NAN that no NANTAP member got the loan. ``I have not seen anybody that claimed to have been given any loan; some did applied but I have not seen anybody that has been given,” he said.

Alison-Madueke

Oil majors grumble as Nigeria seeks 73 per cent share of offshore oil profits

frica’s top oil producer, Nigeria, will seek a bigger share of profits from oil produced offshore when a new industry bill is passed into law, Petroleum Minister Diezani Alison-Madueke said. The Petroleum Industry Bill, which was sent to Parliament in July, proposes to boost the government’s share to 73 percent from 61 percent,

Alison-Madueke said in a statement e-mailed today from the capital, Abuja. “The proposed increase of government take to about 73 percent is not only competitive but considerate when we look at the scale of other entities around the world,” she said, citing Norway, Indonesia and Angola as examples. Previous terms introduced in 1993 were based on an oil price of $20 a barrel, and are no longer realistic because “crude prices have been on the upward swing,” she said. The bill, which seeks to reform the way the West African nation’s oil is regulated and funded, was initially introduced to Parliament more than three years ago. Lawmakers were unable to pass it before the end of the last legislative session in May 2011. Energy companies including Royal Dutch Shell Plc (RDSA), Chevron Corp. (CVX), Exxon Mobil Corp. (XOM), Total SA (FP) and Eni SpA (ENI) said in a joint presentation to lawmakers in 2009 that the proposed tax increases would make exploration “uneconomical.” They pump more than 90 percent of the country’s oil through ventures with stateowned Nigerian National Petroleum Corp. The latest draft of the bill will make Nigerian deepwater oil fields unprofitable if it becomes law, Lagos-based Vanguard newspaper reported Shell Nigeria country Chairman Mutiu Sunmonu as saying on Sept. 24. Under the terms proposed in the draft bill, royalty and tax would be calculated on the basis of production instead of using terrain and investment as currently done, according to the Petroleum Ministry statement. Lower taxes will

ocoa output from Nigeria, the world’s fourth-biggest producer, may rise by as much as 20 percent in the season that starts on Oct. 1, as new farms begin production, an industry group said. Cocoa trees planted four to five years ago in western, eastern and midwestern regions of Nigeria will begin to bear fruits in the 2012-13 season and raise the country’s output to at least 300,000 metric tons from 250,000 tons last year, Robo Adhuze, spokesman for the Cocoa Association of Nigeria, said by phone today in Akure in the southwestern state of Ondo. “In the past five years, Nigeria has done so much to raise output, and what we are seeing now is the result of that,” Adhuze said. The government encouraged farmers to expand their farms, replace old trees and also taught them good practices, he said. Last year, eight new varieties of cocoa, with shorter maturity periods and higher yields per hectare, were introduced, he said. Ondo state, the biggest producer, is expected to increase output to 90,000 tons from less than 77,000 tons last year, Adhuze said, adding production should also rise in Cross River and Edo. Nigeria ranks behind the Ivory Coast, Ghana and Indonesia in cocoa production, according to the International Cocoa Organization. Shipments of the beans represent the secondbiggest foreign exchange earner for Nigeria, Africa’s leading oil producer, according to government figures. Flooding in parts of Nigeria including Kogi, Edo and Cross River states is causing “anxiety” among the farmers, Adhuze said. “It means that output of cocoa from these states could be affected,” he said. Flooding worsened after gates on hydro electric dams on the country’s biggest river, the Niger, were opened to prevent them from collapsing

Anuforom

under pressure from “highintensity rains,” Anthony Anuforom, director-general of the Nigerian Meteorological Agency, said yesterday in the capital Abuja. Nigeria’s cocoa year is divided into two harvests with the main one beginning in October and ending in January, while the smaller crop usually begins in March and ends in June

Barau

Sanusi breaks silence on N5000 note suspension, calls for CBN autonomy

“

Do not temper with CBN autonomy,” This was contained in a in a message issued out yesterday to the National Assembly by the CBN boss, Governor Sanusi Lamido Sanusi and former Information Minister, Frank Nweke (Jr) . Speaking at the 2012 Annual Public Lecture organised by the law firm of J-K Gadzama & Partners LLP, Mallam Lamido Sanusi, said if politicians are allowed agile control of the CBN, it would not efficiently accomplish its regulatory directive. “Politicians and even the executive think short term. The CBN thinks long term. If you allow politicians to control the CBN, we will not achieve anything. Politicians will never allow us to manage inflation, interest rate simply because they want to win election.” As the Chairman of the event, Sanusi was represented by Alhaji Suleiman Barau, the CBN Deputy Governor, Corporate Services, Alhaji Suleiman Barau. The lecture was titled

National Mirror www.nationalmirroronline.net

Business Courage

Monday, October 1, 2012

A9 29

News “Nigeria in the Year 2012: The Vision of a Cashless Economy,” and was presented by Nweke. Reacting to former Chairman, Senate Committee on Banking, Senator Nkechi Nwogwu’s comments that some CBN guiding principles must be subjected to legislative authorization, first, arguing that while CBN should have total autonomy in its regulatory tasks, some of its guidelines, such as the then anticipated introduction of the N5000 banknote should be subjected to legislative examination. “I don’t think the Senate has ever said the independence of the CBN should be curtailed. We never said so. The intervention of the CBN in distressed banks and the like is within its purview,” She said “But there’s no agency that is an Island. We are saying that there are some of its projects, which need democratic review. Certain monetary policies must be brought before the legislature for a review. That is what we are concerned about. We are not at loggerheads with CBN at all. All we’re saying is that they should consider the opinions of Nigerians.” Senator Nwogwu, also moved against the banknote policy, saying it says the opposite to the ‘cash-less’ plan “because in my handbag I can carry N20million.” Although Sanusi, had a different view of that, while defending the initiative through constructive arguments he later presented.

CBN moves to eradicate e-Payment fraud

he Central Bank of Nigeria (CBN) has issued out a communiqué to banks as well as other financial institutions to put all hands on deck to combat cybercrimes as well as electronic payment fraud, to sanitize the financial system. CBN, made this call through Director, Financial Policy and Regulation Department, Chris Chukwu, at the September version of the Nigeria Electronic Fraud Forum (NEFF) in Lagos. Represented by Sebastine Barde, Chukwu said, “A common problem associated with e-payments platforms is their use by cyber criminals who take advantage of inadequate controls in the payment platforms.” “We noted that Automated Teller Machines were introduced in 1993 without adequate guidelines and embedded security controls. The machines were using magnetic strife cards, which were susceptible to cloning hence the myriad complaints of illegal withdrawals from customers’ accounts by cyber

criminals.” He stated that before 2011 complaints were very alarming but following the migration of Euro Master Visa card last year, even though complaints have reduced now considerably; “we intend to leave no stones unturned.” However, with the migration of in February 2011, such complaints have dropped substantially in 2012.” “E-payments are consequently globally favoured and rapidly pursued by nations because they are efficient, convenient, cost effective, transparent, secured, fast, and accurate, reduce corruption by minimizing interaction of government’s officials with contractors and leaving trails, provide better visibility into an entity’s spending, afford ability to leverage financial incentives on transactions, as well as advanced fraud protection.” He said. “It is therefore no exaggeration to say that e-transactions have comparative advantages over cash-based transactions. The cost of currency management is usually a high figure in the accounts of any central bank of a cash-based economy.” According to Chukwu, e-payments were designed to automate, integrate, and simplify the payment process.

German investors scramble for agroallied investments in Nigeria

ermany has promised to aid Nigeria in developing her industrialized plus agro-allied sectors, as plans have been completed for the admission of more German corporations into Nigerian business setting. Nigeria is already rising as the business centre for several European countries and the quantum of trade linking the two countries was over a billion Euros last year. Dr. Volker Treier, the deputy Chief Executive Officer and Managing Director, International Economic Affairs, German Chambers of Industry and Commerce network, made this revelation at the 30th anniversary of German Industry and Commerce in Nigeria, in Lagos. He revealed that the European Union (EU) debit catastrophe has unlocked investment breaks for Nigeria, as nations at the present regard Nigeria as the centre for investment openings. Particularly, he said the German financiers that came to Nigeria to assess opportunities for investment few months back are prepared to invest billions of Euros into the nation’s agric sector.

Treier

“I can confirm that your country is really full of investment opportunities and full of challenges. In addition, as we have seen today, there are investment potentials in all the various sectors here. So, Nigeria is the place to be for investment opportunities. “The other place, Europe, where I come from is facing some substantial challenges. We have European debt crisis. We have public discussion debate about Euro debt. We have challenges about competitiveness among some EU countries. We know we have a lot of homework to do in EU for our economies to bounce back,” Treier said. He clarified that EU debt calamity has affected Germany’s financial improvement, which was the cause his nation was increasing efforts to reinforce her economic connections with other world economies like Nigeria. “Germany economic reform has in one way or the other been affected by the EU crisis. In addition, this is why we are intensifying our homework to boost our economic linkages with powerhouse of the world economies. And my two days here has show that Nigeria is indeed one of the power houses in this world and we pledge to make our bilateral relationship look stronger than before,” he added. He disclosed that the German government has spotted out Nigeria as her trade investment objective in Africa where it anticipates to plant her investments in the continent, adding that Nigeria stands as the European giant’s second most significant trading associate in SubSaharan Africa, second only to the South Africa in the continent. “There are many reasons why Nigeria stands out as an interesting emerging market, not only for the German private sector, but Europe and the world as a whole. Nigeria, as a home for German investors, is because its Germany’s second most important trading zone in Africa. In 2011, Germany exported goods/services to

Nigeria more than 100 billion Euros, why the value of Nigeria’s goods to Germany was 1.2 billion Euros. Also about 60 German companies are already present here and I promise, we will intensify our approach to see more German companies’ presence in Nigeria.” He promised that the German government would maintain her economic bid with Nigeria. “It’s a fruitful cooperation to see that some of our companies here in Nigeria are ready to partner other companies with like minds even, they intend to buy more manufacturing companies here. They intend to cooperate with us, with you and with the local authorities, because Nigeria is African biggest economy with a gross domestic product of $450 billion this year.” “Indeed, the country is among the seven biggest oil producing countries in the world. In addition, Nigeria has oil reserve of about $45 billion, while it has an annual growth of remarkable seven or eight per cent per year. I think the future of global economy belong to Nigeria,” he concluded.

“There are a lot of opportunities for new investors in Nigeria” – President Jonathan

n an attempt to woo Foreign Direct Investment, FDI, President Goodluck Jonathan, in the midst of a group of foreign investors, claimed that his administration is tackling the dearth of infrastructure and the dire security challenges in the country. Speaking at a dinner organized in his honour in New York, by the Corporate Council on Africa, and attended by the United States Assistant Secretary of State, Johnnie Carson, the president tried to douse the fears of investing in Nigeria. He told the guests at the dinner that safety nets have been established to protect all foreign investors in Nigeria. Expatiating on measures embarked up to , he said, include the establishment and strengthening of the Infrastructure Concession and Regulatory Commission, and the Bureau of Public Procurement. “We have some security challenges now, but let me assure you that the Nigerian Government is on top of it. We are dealing with the issue decisively; it will soon be a thing of the past,” the president said, in an attempt to gain the investors’ confidence. “Opportunities abound for would-be investors with capital

Goodluck Jonathan

and technical know-how in key areas of Nigeria’s economy with a high rate of return on investment. I invite our friends in the United States to take advantage of existing incentives and invest more in Nigeria. “I am confident that by the year 2015, Nigeria would have witnessed transformation in all sectors to the benefit of not only its citizens, but also those who have an interest in Nigeria,” Jonathan said. Attracting foreign direct investment is now the focal point of Nigeria’s foreign policy, the president said. Jonathan said this decision is to accelerate domestic growth and create more jobs for unemployed Nigerians. He said his administration is wholly committed to promoting the development of a knowledgeeconomy that will enhance the security of lives and property, thereby accelerating growth, providing employment opportunities and reducing youth restiveness. The President told the gathering of leading American businessmen and investors that attracting foreign investment to support the realization of the Federal Government’s Agenda for National Transformation is now the topmost priority of Nigeria’s diplomacy abroad. “Let me restate here that Nigeria’s foreign policy is now anchored on the realisation of this Transformation Agenda through the attraction of Foreign Direct Investment. “Under the new policy thrust, our Diplomatic Missions abroad have been directed to focus more on attracting investment to support the domestic programmes of government with a view to achieving not only our Vision 20: 2020, but to bequeathing an enduring legacy of economic prosperity,” he said. In his welcome address, Carson pledged the Obama administration’s support for Nigeria’s efforts to attract greater foreign investment. He said Nigeria is already a very important destination for American companies and the second highest recipient of American direct private sector investment in Africa. Carson said that he is very optimistic that Nigeria can become a great economic success over the next decade. BC

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

A12 32

Business Courage

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Perspectives

Digital money and the emerging and corporate bodies may, on each day, withdraw in cash from their own bank accounts. Here, we see a Sanusi who, on the one hand, is riding high on the astigmatic, hyper-inflationary and IMF-World Bank-approved inflation-targeting naira monetary policy which tells him to print more naira every day as if the naira is going out of circulation and fashion, and on the other hand, a Sanusi who wants to eat his monetary cake and to have it, by trying to tell individual and corporate Nigerians how much of the hyper-inflationary naira they should spend every day in order to accrete spurious value, by magic, to the naira! But, when did Nigeria cease to be a society of free enterprise? Is the one hyper-inflationary and mega-denomination naira in the hand, now-now and today, not worth more than the two hyper-inflationary and mega-denomination naira in the blue yonder of tomorrow?

By Peter Alexander Egom

he currency market of any national economy is its monetary powerhouse where its leaders go to either take popular sovereignty money supply decisions that flood the economy with job opportunities and compassionate care for its people or to take elitist sovereignty money supply decisions that unleash malignant joblessness and total social indifference on its people. Thus, the reason why Nigeria, the anchor nation of the black race, that God, in His Infinite Mercy, has endowed with such a humungous array and plenitude of human, material and spiritual resources, is wallowing in the filth of joblessness, crass hypocrisy, and rampant prostitution , is simply because the few, who have sold their souls to Mammon for a grisly mess of earthly pottage, have foisted the corrupt, rapacious and elitist sovereignty model of naira creation and distribution on over 100 million Nigerians who, as a result, cannot afford one US dollar a day when their one per cent of Ogas in banking and government can afford to tool around with many SUVs and Bentleys of over $100.000 dollars per piece. This is what corruption means and stands for in Nigeria. So, rampant and deep-seated corruption in Nigeria is brought about and sustained by the interest-based, floating-rate and elitist sovereignty market model for naira malcreation and naira mal-distribution. It is within such an elitist sovereignty naira currency market that foreign economic interests, under the imperial umbrella of the IMF and the World Bank, and in cahoots with the shameless and heartless handful of Nigerian economic leeches and traitors, within and outside of the Nigerian banking and government circles, determine how the naira is mis-created and mis-used to impoverish most Nigerians with joblessness and hopelessness. Therefore, the time has come for all of us Nigerians to assert our sovereign rights to control the Nigerian currency market and to, thereby, go on to create and to use the naira to responsibly take care of the social, material, intellectual and other needs of ourselves, our parents, our children and of our near and far Nigerian neighbours. This is the interest-free, fixed-rate and popular sovereignty market model for naira creation and naira distribution that the economically independent and inwardlooking Nigeria is yearning for.

Popular vs elitist sovereign money Thus, popular sovereignty money supply decisions in any economy say that the currency of any economy, like its language, belongs equally to all the members of the economy and, therefore, that the processes whereby the popular sovereignty currency, and language of economic discourse, are created and brought into circulation in the economy must be jointly and equally owned and controlled by all the bona-fide members of the economy so that justice and peace may reign in the polity. This is the precise meaning of the common good concepts

Ngozi Okonjo-Iweala, Finance Minister and Coordinating Minister of the Economy (CME)

of resource control and true democracy which preach and seek to implement the equal opportunity of food, job and other forms of human security for all in any communitarian African economy. But, in contrast hereto, elitist sovereignty money supply decisions say that the currency of any economy is the restricted and apartheid language of economic discourse which is owned and controlled by a tiny group of people who own and manage banks that lend money, at interest compounded, to the sovereign and his courtiers or to the state and its bewildering array of pettifogging bureaucrats. There is, thus, no room for any guesswork about what the job creation outcome of any national economic policy thrust is, or can be ,once its leaders have come down either on the side of a popular sovereignty and interest-free national currency or on the side of an elitist sovereignty and interest-based national currency. The former is the road to the economic freedom and responsibility of human security at home and abroad for all, whilst the latter is the road to the economic serfdom and irresponsibility of human insecurity for the many at home and abroad. For, when the managers of the Nigerian economy say that the naira currency market should continue to create and distribute a mega-denomination and inflationary naira that is only good to spend and not good to keep and to save , there and then do we have a naira currency market of elitist sovereignty which

does nothing more than divert overall value-adding and job creation from Nigeria to South Africa, Lebanon, India, Holland, China, Taiwan, South Korea, Brazil, Malaysia, Indonesia and to many other foreign national suppliers of what we consume but what we can, otherwise, produce in Nigeria if only uncompromising discipline were to return to every facet of Nigeria’s economic governance. But, with discipline gone to the winds in Nigeria, we find that we must suffer the national economic disadvantages that flow from any demand-side, debt-based, interest-based and non-convertible national currency on the floating-rate currency board debt standard which the World Bank brought to Nigeria on September 26 1986. And it is in this floating-rate currency board context that we can all begin to appreciate the unenviable nightmare question, as follows, which the financial managers of an economy like Nigeria must try to come to grips with everyday. How can we go about arresting, domesticating, and harnessing the restless, errant, out-ward-looking, stowaway and run-away naira for overall value-adding and jobcreation in Nigeria? And, then, with this question firmly in the back of one’s mind, one can begin to make some sense of the uncertain, very stop-go and very flip-flop nature of the latest currency market policy positions of Sanusi Lamido Sanusi, Governor of our lame-duck Central Bank of Nigeria, on how much naira Nigerian individuals

Cashless policy not justifiable Sanusi has no justifiable right to dictate how much of the free deposits in the bank accounts of any Nigerian can be withdrawn at any time. For, Sanusi’s true mandate is to encourage the financialization and deepening of the Nigerian banking system so that the naira may become increasingly better to keep and to save and not to scare Nigerians back to the shallow world of cash and carry transactions which do not give the naira any moss of time to add much local value and create durable local jobs. So, once the Nigerian has earned his naira deposits in clearly legitimate ways, he should be at liberty to clear his accounts at any time without seeking any permission from anyone. Hence, it must be reiterated that what Sanusi is expected to do as the gung-ho Governor of CBN is to create such a naira currency market environment that sends the continuous signal to every Nigerian bank account holder that the naira is good to hold, keep and to save. Once this message is found by Nigerian bank account holders to be credible and bankable, in word and deed, the Nigerian banking system will become more financialized and deepened and will become much less the ramshackle, monetized and carry-go market place that it is today. On closer scrutiny, however, what Sanusi appears to be trying to do, in his own brash and top-to-bottom way, is to grapple with the age-old Nigerian problem of how to stretch out the time content or horizon of Nigerian financial instruments so that there will be a consistent bunching of these instruments in the local-value-adding and job-creating medium-to-long-term end of the time spectrum of Nigeria’s financial instruments. But, this is a mission impossible for as long as the naira remains an interest-based and a non-convertible product of the SAP or floating-rate currency board debt standard. And this is clear and indubitable verdict of the economics of God Almighty in both the ChristianTrinitarian and Islamic versions. For God is always for the unchanging economics of market level ground where the phenomenon of interest, simple and com-

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Business Courage A13 33

Perspectives

gold standard payment pounded, is anathema! Poor money management So, I am frightfully sorry, Sanusi, but you are on the wrong naira currency market management tack for jobcreation in Nigeria. And this is because, and only because, you inherited and are saddled with an un-patriotic, elitist, unAfrican and interest-based model for the creation and distribution of the naira which is decidedly not in the service of all Nigerians living and does no honour to all Nigerians dead! For in the West of the IMF and the World Bank, they follow Rene Descartes to say: I think therefore I am, but in our own Black Africa we follow Uthman dan Fodio and our other ancestors to say: I am because we are and that if we want peace we must work for justice. So, Sanusi be very aware that, the time has now come for all of us Nigerians to muster the courage to begin to create and use the naira with uncompromising patriotism and discipline and more so with the sane and communitarian African spirit of live-and-let-live. That is the only currency market route to justice and peace in Nigeria, in Africa at home and in the Diaspora, even in beleaguered Greece, Portugal, Spain, Italy, and Ireland of Euroland and in the rest of the world. Indeed, we in Nigeria have now the unique opportunity to begin a new chapter in the global formula for currency market management where every human being counts as the key recipient of revenue for his running and life-time existential, vocational and entrepreneurial needs.. For, it is only this new popular sovereignty and inclusion formula for national currency market management that finally solves the problem of the ever-recurring revenue allocation palaver, of the ubiquitous state creation palaver and of all the other monetary palavers of governance in Nigeria. Hence, we must now insist, as we must with due respect for the African concept of being and the spiritual legacy of Uthman Dan Fodio, that, in the spirit of the global Occupy Movement of yesterday and today, justice and peace demand that, in each national economy of the globe and beginning with our own Nigeria, its bona-fide residents and citizens must all have the human and divine right to participate equally in the national processes of money creation and distribution and, hence, in determining what is produced, how and for whom in Nigeria as in any other country of the globe.. And it is this equity principle of money creation and distribution that is the simple and direct source of the God-compliant and interest-free money of justice and peace and popular sovereignty in Nigeria as in any other nation of the globe. So, when the managers of any economy say that its currency market should create a non-inflationary and interestfree national currency that is very good to hold, to keep and to save, there and then do we have a national currency market of popular sovereignty which is made to foster and conserve overall value-adding and job-creation within its home economy as it becomes the wishful Lemming-

Sanusi Lamido Sanusi, Governor of Central Bank of Nigeria

destination of foreign investment of all hues. This is the characteristic feature which economic thought, in the tradition of the currency market greats of old like Thomas Gresham and Nicholas Oresme, has long associated with the idea of the supply-side, or debtfree, interest-free and commercial convertible national currency on the gold or commodity standard. Unfortunately, however, Western economic thought and tradition has always failed to realize that global issues of economic value and distribution, like payments standards, are power-laced and socio-relational in character and cannot, therefore, be reduced to the material rigidities of the weights and measures of metals and commodities. So, one can say that the old metallic and rigidly mechanical ideas about how the gold standard monetary regime , or the regime of any other payments standard for that matter, works in practice, is an anachronistic fairy tale and especially so in these days of the viral electronic age where payments are increasingly dematerialized and cashless. So, the true nature and meaning of the gold payments standard becomes apparent, in our touch-button world of economic transactions, simply as the network of effortless and electronic payments inter-connectivity between its component trading and paying sovereign parts, be they individual human beings, corporates or nations.

And, this is precisely what happens within and between the internal and external balanced-budget economies of the globe which severally work and apply the popular sovereignty and inclusion model of money creation and distribution in their currency markets. The way to go In effect, the global regime of the gold payments standard which popular sovereignty currency markets will establish in every nation of the earth is a globespanning electronic structure of cashless trade and payments for goods and services. In this age of digital money, of Visa-cards and Master-cards, it is indeed a very boorish and retrogressive idea for anyone to suggest that Nigeria should continue to print and use any cash naira of lower or higher denominations. The naira has gone digital and cashless. In fact, the naira is on its solid way to the gold payments standard where all payments are cashless and on-line. And the structural implications of this gold standard payments system for the economic lives of nations are revolutionary and mainly as follows. One, the dual economy syndrome will disappear from the internal economic structure of Nigeria, for example, so that Nigerians, in the spirit of resource control, may remain in their home regions of origin to make use of the resources God has endowed them with to service their social and material needs and the same needs for their near and far neighbours,

in fair and equal exchange. Two, the center-periphery syndrome will disappear from the external economic structure of Nigeria, for example, so that Nigeria may start to look inwards to use her humungous array of human and material resources to satisfy the social and material needs of her bulging population of over 170 million souls. Three, with the decentralization and ruralization of economic life within Nigeria, for example, we find that a rural chain of interest-free micro-finance banks will become the primary and deposit- taking financial institutions within Nigeria so that intense but fair competition may arise and grow among Nigerian rural communities with regard how much they, individually, can regularly save and use their local micro-finance banks to spearhead their respective growth in local value-adding and job creation. Thus,one will no longer look up to local, state or federal government for job opportunities. Rather, one will fall back on oneâ&#x20AC;&#x2122;s kith and kin in oneâ&#x20AC;&#x2122;s local community for a life-time of private-sectorled employment. Four, the micro-finance-bank-centered local economic communities of Nigeria, for example, will be woven and integrated together by concentric and efficient Nigerian networks of road, rail, fiber-optic, and power inter-connectivity because, and mainly because, the emerging Nigerian money supply markets are the country-wide and electronic backto-back networks of stock and commodity exchanges where interest-free equity naira rules the roost. The implication of this is that nothing can be done anymore to revitalize the Nigerian Stock Exchange system that is centered in Lagos. And it is not Arunma Otehâ&#x20AC;&#x2122;s fault that the bottom has fallen off the NSE. After all, the NSE is a product of the interest-based and elitist sovereignty model of naira creation and distribution which has virtually made Nigeria kaput in respect to local value-adding and job creation and so the NSE must also be kaput when production is at a standstill all over Nigeria. Conclusion So, in conclusion, the following should be said. The problem of local value adding and job creation in Nigeria has eminently to do with how to inundate Nigeria with medium-long term and interest-free equity naira. This is easily done when all Nigerians have a say on how the naira is created and for what the naira is created. This is what the economics of resource control and democracy is all about in Nigeria, in Greece and in the rest of the globe. And what this essay says is that we, in Nigeria, no longer have any choice on this matter for the times now speak for Nigeria, the anchor nation of the black race, to lead the globe by beginning to, democratically and consensually, create and distribute the interest-free equity naira in Nigeria in the God-compliant and African spirit of live-and-let-live, justice and peace. BC Egom is former Consultant Editor, NIIA, Lagos and currently, Publisher ,Adione Publishing

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Business Courage A15 35

Still widening the ICT horizon With Nigeria making giant strides in the Information Communication and Technology industry in recent time, stakeholders believe there is strong prospect for future of ICT even as there are still spaces for more investment By Adejuwon Osunnuyi

o many, Nigeria’s over dependence on oil has often exposed the economy to macro-economic instability, resulting from the effects of external shocks to oil prices. While the recent world economic recession and the sustained slump in oil prices have no doubt placed a heavy toll on the county’s current account surplus and external resources and have diminished the nation’s capacity to finance much of its development needs, the need to look elsewhere for a cash cow has continued to dominate public discourse. Experts have argued that the Information Communication and Technology (ICT) remains the future of Nigeria’s economic growth. The reason, they argue, is simple. Though the sector seemed not to have made much impact in the first half of the nation’s 52 years of independence, the last 10 years have seen the sector becoming the real test of the importance of a knowledge driven economy for the nation. Telephone, which prior to this time, was a status symbol, has now become a household tool as the Global System of Mobile Communication (GSM), has changed the country’s telecoms landscape making life easier and less stressful for the people. Consumers now have access to cheap and ubiquitous voice calls, text messages, Multi-media messages (MMS) and the Internet. With the GSM revolution, the story is now different. From mere 400,000 lines in 2001, the country’s four GSM operators now have a combined subscriber base of over 90 million. The widespread need for ICT services has been characterized by the growing demand and consequent profitability of the sector. For instance, within the relatively short period of telecommunications sector explosion in the country, quite a number of entrepreneurs have

emerged to take up services across related spheres of marketing, sales and most importantly, repairs of ICT products. This trend, industry stakeholders reasoned, is expected to be on the upswing especially given the growing importance of the sub-sector globally. Hence, the prospect for Small and Medium Enterprises (SME) participation and realization in the domestic ICT market is therefore bright. As at 2010, private investment in the sector was put at over $25 billion while in 1999, investment was no more than $50 million. According to experts, annual investment in the country’s telecoms industry was in excess of $2 billion as the year –on-year increase of 20 to 30 per cent had been recorded in telecoms investment in Nigeria in the past five years. Despite the tremendous achievement made so far in the ICT sector, the belief is that the nation’s ICT market is still open to substantial growth, which will attract massive investment into the sector. For instance, speaking at the just concluded third annual Nigeria Com which took place in Lagos last week, stakeholders took a critical look at the opportunities in Africa’s largest and arguably most exciting market and agreed that despite the challenges, Nigeria offers growing opportunities to those who can take them. According to the gathering which included investors, telecom operators, the key to success is to deliver what consumers want. A recent study published by Technology Strategies International in partnership with BroadGroup TMT Ventures titled “Investment Opportunities in the ICT Sector in Nigeria”, maintained that though Nigeria is now the largest mobile market on the African continent, it still has a mobile penetration level of less than 50 per cent, suggesting that there is ample room for expansion of the market.

Penetration in the fixed line segment is dismal and there is a vast opportunity to improve internet penetration, the report points out. “One of the things fuelling the growth in the Nigerian ICT sector is the imminent illumination of two undersea cables, which will increase international bandwidth dramatically’, says Christie Christelis, president of Technology Strategies International. At the other end of the spectrum, there is still huge latent demand for mobile phone services, she noted, adding that operators in Nigeria are experiencing similar challenges faced by operators in other emerging economies, with declining Average Revenue Per User (ARPU) as the subscriber base broadens to include poorer segments. But companies such as MTN have demonstrated that even at ARPU levels of $12 – and declining – astute operators are able to make above superior margins. The company’s CEO, Brett Goschen seems to agree with this study as he noted that in the last 10 years of the company’s presence in the country, MTN Nigeria has significantly contributed to the nation’s Gross Domestic Product (GDP). Goschen noted that the company in ten years had demonstrated its capacity to fundamentally improve the way Nigerians live, work and play. “MTN has demonstrated true leadership in the telecoms industry, by providing innovative products and services, operating under the most stringent corporate governance code, and fulfilling its responsibilities as a law abiding corporate

citizen. As a result of this, the Nigerian telecommunications industry has witnessed unprecedented growth and expansion, as a result of which it now contributes significantly to the nation’s Gross Domestic Product (GDP),” he said. To Christelis, provided the political turbulent in the country is well managed, it is unlikely to impede growth in the ICT sector in Nigeria as the FG’s Vision 2020 initiative is said to be creating an environment conducive to high growth. ‘There is huge momentum behind the growth, and even through the recent global financial crisis, investors have managed to source funds for good investment opportunities in Nigeria’, she says. ‘One example is the capitalization of the infrastructure sharing venture, Helios Towers. The Helios business model could well be rolled out across other emerging economies.’ Key opportunity areas identified in the report include expanding the reach of the undersea cables, building out mobile infrastructure, turning investments into fixed wireless infrastructure into sustainable businesses, expanding the retail network for mobile, fixed wireless and internet services, and in electronics manufacturing. Identifying ICT and the entertainment sectors as ‘the next big wave of growth‘, industry players submitted that what was needed to take the sector to greater heights remained a policy objective for a broader assistance, adding that, “Many don‘t look at the opportunities that lie in here but it is the same industry that is creating a big job and have created a ca-

reer for some.” To a large extent, to many, it is essential to note that ICT growth far exceeds the mass importation and presence of telephones, computers and other ICT devices. According to them, infrastructural content as well as the amount of usage of services by the populace - for instance, the level of telephony density, are factors that are key in grading the country in terms of ICT growth. According to the President, Association of Telecommunication Operators of Nigeria, ATCON, Engr. Lanre Ajayi, “The noticeable gain from ICT is the increase in productivity which is enabled by easier and efficient communication, facilitated by increased access to telephone and then Internet.” He said ICT had opened up access to the vast information resources available on the Internet and that Nigerians are better empowered and now have better opportunity than before to get themselves updated in various areas of endeavour especially via the Internet. To Professor Charles Uwadia, while the rate of ICT advancement in Nigeria is not low, “There are indeed several other indications that considerable progress has been made in the information technology and telecoms sector since the advent of democracy, and the awareness of the potentials of using IT to transform the nation‘s economy is already widespread among policy makers and leaders of the organized private sector.” According to Ajayi, there was the need to promote legislations for the protection of online

A16 36

Business Courage

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Technotips

Ajayi

Goschen

business transactions, to ensure adequate privacy security and privacy. In his own assessment, the former Chief Executive Officer of GTBank Plc and industry icon, Fola Adeola maintained that there are still enormous untapped investments in Nigeria, especially in the broadband segment. Adeola said that an examination of the investment climate in the next decade in Nigeria, particularly within the context of broadband infrastructure and services, has shown that there are untapped investment opportunities in the country. “It is note-worthy to emphasize that the Main One project itself underscores the enormous untapped investment opportunities that exist in the Nigerian economy today and in the nearest future,” he

asserted. Broadband, he said, therefore represents a new frontier for investment in the Nigerian economy in the next decade. According to him, this forecast showcases the colossal possibilities that exist in this economy for credible infrastructure projects and the investment appetite of both local and international investors in the ICT sector in Nigeria. Particularly, he said that in the area of broadband, infrastructure and services have attracted equity and debt funding from both local and international institutional and private investors, adding that there is an overall keen global interest to invest in Nigeria given the size of the market and growth potential. He however noted that investors would remain wary un-

til they see political certainty, which hopefully, he expected to improve. “Presently, in the country several critical issues need to be addressed by the Federal Government in order to renew investor confidence, and drive growth outside the oil and gas sector,” he said, stressing that these would include policy reforms which will improve several areas of dependencies such as power, security, ICT infrastructure, roads and other transportation infrastructure, education, and preparedness of the workforce for skilled jobs, improved financial and capital market structures. Citing the recent forecast provided by Morgan Stanley, he noted that Nigerian economy is expected to overtake South Africa’s by the year 2023 with similar report by Bloomberg indicating that consumer spending in Nigeria will continue to expand over the next 5 – 10 years. “In terms of the much needed Foreign Direct Investment (FDI), the country made it to the top 20 global destinations for FDI in the last 10 years, receiving one of the largest amounts of Foreign Direct Investment in the Africa continent,” he said. As said by the United Nation Conference on Trade and Development (UNCTAD), recently, inflows of about $6 billion were recorded in 2011 alone, making the country the 19th highest recipient of FDI in the world for that year. “This is however, $7 billion lower than other oil producing countries, including Angola, which has focused on improved infrastructure and sector diversification; away from primary oil production,” he noted, adding that this is contrasted with Nigeria, as growth in the FDI was largely oil and gas sector driven with a few non-oil sectors in areas including telecommunications, banking and financial services, and real estate amongst others. Future investment growth in the country, he said, would itself rely on investments in pervasive deployment of ICT infrastructure, particularly those that support the mass distribution of innovative broadband services critical to improved efficiency and overall productivity in both public and private enterprises. ‘It is no longer news that, just as “electricity a century ago, broadband is a foundation for economic growth, job creation, global competitiveness and a better way of life. It is enabling entire new industries and unlocking vast new possibilities for existing ones. It is changing how we educate children, deliver health care, manage energy, ensure public safety, engage government, and access, organize and disseminate knowledge,” he said. BC

Optimising Windows 7 for better performance

o matter how fast or shiny computers might be when they’re new, they all seem to get slower over time. That state-of-the-art PC you bought last year might not feel like such a screamer after you install a dozen programs, load it with antispyware and antivirus tools, and download untold amounts of junk from the Internet. The slowdown might happen so gradually that you hardly notice it, until one day you’re trying to open a program or file and wonder, “What happened to my poor PC?” Whatever the cause, there are lots of ways to help speed up Windows and make your PC work better—even without upgrading your hardware. Here are some tips to help you optimize Windows 7 for faster performance. Try the Performance trouble shooter The first thing that you can try is the Performance trouble shooter, which can automatically find and fix problems. The Performance trouble shooter checks issues that might slow down your computer’s performance, such as how many users are currently logged on to the computer and whether multiple programs are running at the same time. Delete unused programs Many PC manufacturers pack new computers with programs you didn’t order and might not want. These often include trial editions and limited-edition versions of programs that software companies hope you’ll try, find useful, and then pay to upgrade to full versions or newer versions. If you decide you don’t want them, keeping the software on your computer might slow it down by using precious memory, disk space, and processing power. Limit programs to run at start-up Many programs are designed to start automatically when Windows starts. Software manufacturers often set their programs to open in the background, where you can’t see them running, so they’ll open right away when you click their icons. That’s helpful for programs you use a lot, but for programs you rarely or never use, this wastes precious memory and slows down the time it takes Windows to finish starting up. Defragment your hard disk Fragmentation makes your hard disk do extra work that can slow down your computer. Disk Defragmenter rearranges fragmented data so your hard disk can work more efficiently. Disk Defragmenter runs on a schedule, but you can also defragment your hard disk manually. Clean up your hard disk Unnecessary files on your hard disk take up disk space and can slow down your computer. Disk Cleanup removes temporary files, empties the Recycle Bin, and removes a variety of system files and other items that you no longer need. For step-by-step instructions on how to do this, see Delete files using Disk Cleanup. Run fewer programs at the same time Sometimes, changing your computing behaviour can have a big impact on your PC’s performance. If you’re the type of computer user who likes to keep eight programs and a dozen browser windows open at once—all while sending instant messages to your friends—don’t be surprised if your PC bogs down. Keeping a lot of e-mail messages open can also use up memory. Turn off visual effects If Windows is running slowly, you can speed it up by disabling some of its visual effects. It comes down to appearance versus performance. Would you rather have Windows run faster or look prettier? If your PC is fast enough, you don’t have to make this trade-off, but if your computer is just barely powerful enough for Windows 7, it can be useful to scale back on the visual bells and whistles. You can choose which visual effects to turn off, one by one, or you can let Windows choose for you. There are 20 visual effects you can control, such as the transparent glass look, the way menus open or close, and whether shadows are displayed. BC

National Mirror www.nationalmirroronline.net

she said.

Ezekwesili joins Barthi Airtel board

B Bose

Over two million Blackberry phones in Nigeria- RIM By Kunle Azeez

akers of Blackberry devices, Research In Motion has said that, of the over four million smartphones in Nigeria, Blackberry currently controls 50 per cent, amounting to two million users. The Canada-based phone manufacturer said this was according to a recent statistics from research firm- Informa and Telecoms. RIM’s Regional Managing Director, Robert Bose, disclosed this in Lagos over the weekend at a press conference organised to explain its planned expansion in Nigeria. Bose said RIM would be leveraging on Africa and indeed, Nigeria’s large mobile market potential to improve on its dwindling global market share, due to intense competition from other brands. He said the company has already unfolded plans to open a permanent local outlet in the country, to be signposted by it’s fully- branded Blackberry retail stores in Lagos. He said the Blackberry Company was trying to maximise global market share with inroads into Nigeria, adding, “We have the local team doing the ground work for us presently.” “We are putting all measures in place to ensure that we leverage Nigeria’s booming telecoms market, which is rated as one of the fastest-growing in the world currently.” He added that the move to strengthen its operations, which marks the expansion of RIM’s footprint in Africa from its headquarters in Johannesburg, South Africa, underlines the company’s commitment to its partners and customers in Nigeria. “As the leading smartphone provider in Nigeria and in Africa overall, our customers are our number one priority, so we are very pleased to cement our physical presence with local staff, establish a new legal entity and work with local business partners to expand our retail and customer care across Nigeria,”

harti Airtel Limited, a leading global telecommunications services provider with operations in 20 countries across Asia and Africa, has announced the appointment of former World Bank Vice President for Africa and a world-renowned expert on economic reforms and economic governance, Obiageli Ezekwesili, into its board. The changes have been effected in view of the proposed Initial Public Offering (IPO) of Bharti Infratel, which is a leading provider of passive telecom infrastructure in India. Ezekwesili has a strong track record in the transparency, accountability, good governance, and anti-corruption movement worldwide, having been one of the co-founders of Transparency International. As the Vice President of the World Bank in charge of the Africa region, she was responsible for operations in 48 countries in Sub-Saharan Africa and supervised a lending portfolio of over $40 billion. She previously served as director of the Harvard-Nigeria Economic Strategy Program in Boston and Abuja. She holds a Master’s degree in International Law as well as Public Policy and Administration from the University of Lagos and Harvard’s Kennedy School of Government. Chairman and Managing Director, Bharti Airtel, Sunil Bharti Mittal, said, “These changes have been effected in line with our strong corporate governance culture and will ensure that Bharti and Singtel have distinct representatives on the Boards of Bharti Airtel and Bharti Infratel. “I am confident that these two worldclass Boards will continue to guide these companies to greater heights. I would also take this opportunity to thank the outgoing Directors for their contribution to the Board of Bharti Airtel.” Following the restructuring exercise, there is now a new composition of the two boards. Bharti Airtel board

Ezekwesili

Business Courage A17 37

NIGERIA @ 52

Monday, October 1, 2012

members include, Mittal; Ajay Lal, Chua Sock Koong, Craig Ehrlich, Manoj Kohli, Manish Kejriwal, N. Kumar, Nikesh Arora, Obiageli, Pulak Prasad, Rajan Bharti Mittal, Tan Yong Choo and Tsun-yan Hsieh.

Intel sponsors Nigerian students to science fair in South Africa Stories by Adejuwon Osunnuyi

he global technology company, Intel is sponsoring nine Nigerian students drawn from three secondary schools in the country to South Africa to take part in a science fair/ competition of all secondary schools in Africa. Known as the Eskom Expo for Young Scientists, the fair is South Africa’s primary and only

Ogunbor

existing science fair for secondary school students, where they have an opportunity to exhibit their own scientific investigations and possible inventions. Nigeria’s representatives are drawn from Calvary Arrows Secondary School Gboko in Benue, Niger Delta Science College, Port Harcourt,Rivers state and the Community Secondary School Aka Ufot in Akwa Ibom state. To qualify for the competition in South Africa, the Nigerian students emerged tops in a National Science fair held earlier in the year in Port Harcourt and jointly sponsored by Intel and Shell Petroleum Developing Company (SPDC). Some of the scientific investigations being showcased by the Nigerian delegation include the use of cassava extracts for making plastics, which is being showcased by Community Secondary School, Akwa Ibom; Niger Delta Science college Port Harcourt is showcasing its investigation on an automatic multi-phase selector with a generating plant while Calvary Arrows Secondary School is working would display its work on the production of a tri-powered lawn mower. The Corporate Affairs Manager of Intel Nigeria, Osagie Ogunbor said Intel is helping to transform the lives of millions of people through its respective engagements in Education the world over.

Nokia organizes advanced Java training for application developers

n furtherance of its commitment to support local developers Ecosystem, global phone manufacturer, Nokia has organized an advanced Java training for its key developers and partners in Nigeria and Ghana. The two-day intensive training, which held at Co-Creation Hub recently focused on utilizing the latest developer tools for 40 key developers to encourage them to develop applications for the new Nokia Asha Full Touch devices. As part of the training, Tony Torp, a senior lecturer of software engineering at Tampere University of Applied Sciences, Finland, who conducted the theoretical and hands on training, focusing on developing the participants’ skills and current applications also led a workshop for six potential Nokia Certified trainers from Nigeria and Ghana with the goal of certifying the trainers to be part of the official Nokia trainer’s network globally. Speaking at the training, Head, Ecosystem and Developer Experience, Nokia West Africa, Teemu Kiijarvi, expressed Nokia’s delight in being able to bring a global top talent to Nigeria to support local developers in improving their skills in mobile app development. Nigeria, he said, has a thriving and growing mobile software start-up scene with a lot of potential for growth. He stated that the company will through the workshop and other initiatives like Nokia/ Co-Creation Hub Growth Academy, continue to provide support to Nigerian developers and ICT companies. “We are also extremely delighted to start the process of certifying the first West African Nokia trainers. Our goal is always to find and collaborate with the top local talents and by finding these certified trainers we have much wider developer training support network in the region. Through the process the selected trainers will become part of Nokia’s global trainer network and they will get access to materials and tools available only for selected partners. They will also get early access to the latest Nokia developer tools and devices

Final 40 to launch at DEMO Africa 2012 emerge

fter more than four months of work, the DEMO Team has released the 40 demonstrators to launch at the first ever DEMO Africa Conference. DEMO Africa is the flagship

initiative of the Liberating Innovation in Opportunity Nations in Africa (LIONS@frica) partnership and includes DEMO, Microsoft, InfoDEV, Nokia and US Department of State. The 40 finalists have gone through three rigorous vetting processes with the final vetting and adjudication done by a pan-African panel of judges including entrepreneurs, academics and venture capital investors. Announcing the names of the final 40, Harry Hare, Executive Producer, DEMO Africa said “This has been a very enriching exercise seeing the kind of quality innovation coming out of Africa.” The process included several DEMO Africa innovation tours to encourage participation from technology startups from as many countries as possible. A total of 500 applications were processed ahead of this event, these were then short listed to 150 ventures two

Akinsade

weeks ago and now the final 40. “It’s been a great pleasure working with the different entrepreneurs. We congratulate the selected entrepreneurs and trust they will put their best foot forward in Nairobi. Now is the time to celebrate innovators from across the continent,” said Ben White, Founder, VC4Africa. The 40 cover five categories – Social Media, Cloud Services, Mobile, Consumer and Enterprise Technologies. South Africa and Kenya take a big chunk of the final 40 with Ghana and Nigeria coming in a close second. Other countries represented included Cameroon, Senegal, Egypt, Tanzania and Zimbabwe. “Many entrepreneurs did not make the final cut despite having excellent ventures. We wish we could launch all of them at DEMO Africa, but that’s practically not possible,” said Hare. “We will however engage all of them and see how to assist them through the partnerships we have created to move their businesses to the next level,” he continued. BC

A18 38

Business Courage

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Reflections with Semiu Salamii 07043280449 sms only

Where and how did we get it wrong?

rom the accounts of those that are privileged to witness Nigeria’s transition from a mere British colony to an independent entity on October 1, 1960 and few years afterwards, it is obvious that Nigeria, no doubt was a country destined to be great and the men of those years made tremendous efforts towards making the country great. Though the events that predated the independence and some few years after could not be said to be an entirely perfect situations, the spirit, passion, commitment and determination then was uncommon. At that time, the new country’s economic and political future looked bright. Yet, all these were before the oil boom. The international appraisal, particularly from the western press was very positive as they readily cited the sound economic infrastructure, a seemingly strong agricultural sector, and vast proven oil reserves in the Niger Delta. Politically, the British had left the country on good terms with the first constitution negotiated over more than a decade between the British and the leaders of Nigeria’s three main political parties. In fact, at that time, Time magazine went even as far as calling Nigeria an example of “democracy’s workability in Africa.” However, despite this initial optimism, the political turmoil that followed the

assassination of the then prime minister and the emergence of military government which ultimately collapsed the country into a brutal civil war, in my mind seem to be the root of the current travails. Today, five decades and two years after independence, Nigeria regrettably sits in the league of the most poorly governed countries in the world, where economic development has fallen far short of expectations at independence. Though the country has made some little gains since 1960, such gains betray the abundant natural and human resources. Indeed, there is a sense in which one can readily agree with the postulations of those who believe that Nigeria’s economy has consistently revolved around stagnation and contraction. By all standards, Nigeria has never at any time been a nation in need. Crude oil was discovered in commercial quantity in 1956, four years before independence and each of the regions was equally endowed with abundant natural resources which were strong enough to build sustainable development on. The North was famous with groundnuts, the West with Cocoa and East with coal and palm oil. Though the country mismanaged these resources, especially with the coming of oil and

its global relevance, the resources from oil itself was more than enough to transform the country into a stronger and prosperous economy, comparable to any other in the world. Today, Nigeria is sub-Saharan Africa’s largest and the world’s 15th largest oil producer, with an output of 2.1 million barrels per day. Yet, rather than generate wealth and stability for the nation, the oil wealth has created problems that similarly diverse but resource-poor African countries have been better able to confront since independence. Fifty-four years after Nigeria joined the league of oil producing nations and fifty-two years after gaining political and economic independence, our dear country has remained a symbol of what has been derisively termed the resource curse. With all the huge resources which the country has earned from the sale of crude, Nigeria appears to have performed worse in terms of economic development and good governance than countries without these resources. A case in point is our neighbour, Ghana, with mineral resources, including gold and diamonds, that are minimal in scale compared with Nigeria’s oil reserves but which outperforms Nigeria in Gross Domestic Product (GDP) per capita, life expectancy and on many measures of democratic quality. According to the World Bank, Nigeria’s per

capita gross domestic product (GDP) declined from $1,113 in 1970 to $1,084 in 2000. By 2008, GDP per capita had risen to just over $1,400. Of course, the consequences of this on poverty index among the citizens are better imagined. While the economy has deteriorated, poverty levels have risen, with the percentage of Nigerians living on less than $2 per day said to have drastically increased from 36 per cent in 1970 to nearly 75 per cent in 2011. Nigeria currently ranks 158th out of 177 countries on the United Nations’ Human Development Index (HDI), worse than many African countries without its oil wealth. Clearly, this is not the Nigeria of our dream. The dream of every Nigerian, including those that fought for the independence that we all enjoy now and who have long gone, is that of a prosperous nation. A nation flowing with the proverbial milk and honey, in which all citizens, irrespective of class, tribe or religion enjoy the full benefit. A nation of equal opportunities, a nation that accords dignity to humanity and not a nation where only the few privileged individuals corners our common heritage. Nigerians are generally industrious and highly resourceful but quite sadly, these potentials are far from being fully realised, simply because those that have ruled over us either do not share a common passion with many of us or they are simply beclouded by greed and avarice. Today, 52 years after, this great country has failed to live up to its full potentials. At 52, our growth as a nation is still stunted and this is indeed very painful. BC

BELIEVABILITY INDEX

Integrity as SEC’s new recipe for capital market turnaround By Festus Okoromadu

he Nigeria capital market recorded unprecedented growth between 2003 and 2007. The market capitalization, that is, the total market value of the outstanding shares of all the companies listed on the Nigerian Stock Exchange (NSE), increased by over 66 per cent from N1.4 trillion to N10.2 billion. The market capitalization reached an all time high of N12.6 trillion, in March 2008, before it went southward to close the year at N7.0 trillion. Since then, the market has been at crossroads, consistently recording decline. One of the reasons attributed for the losses in the market has always been lack of investors’ confidence. No thanks to the many sharp practices which both the operators and regulators were involved in during the boom era. Despite the fact that the various groups operating in the market have to a large existent refused to take responsibility for the misfortune that befell the market, recent revelations have shown that the uncontrolled greed on the part of stakeholders led to the collapse of the market. It is therefore not surprising to see operators initiating ideas aimed at addressing the lack of integrity as a way of revamping the market. Last Tuesday, September 25, 2012, the Securities and Exchange Commission (SEC) unfolded a new perspective to the market revival strategy by recognizing and honouring distinguished Nigerians who have proven record of honesty. The new concept was tagged, “Integrity Award”. Speaking at the inaugural award ceremony held at the Lagos Office of SEC, Arunma Oteh, Director General (DG) of SEC, said, “The Integrity Award is a carefully considered response to a critical need of the Nigerian society”. The award, according to her, is designed to promote, recognize and reward integrity. She stated that with the initiation of the award, “The Nigerian capital market community is affirming, in one collective

and resonating voice, that integrity constitutes the very foundation of the capital market”. Emphasising the role of integrity in the development of the capital market, Oteh said, “Without integrity, no capital market can thrive. Investors all over the world regard markets and environments with low integrity threshold with great trepidation and apathy”. She noted that any capital market that is striving to be world class most flourishes in integrity. World class capital markets are markets in which dealings and transactions are conducted transparently; there is full and unimpeded disclosure of information around which investment decisions are made. There is a flourishing culture of trust because participants are confident that such markets have embedded functional mechanisms for apprehending and sanctioning malfeasance, indiscipline and misconduct” she pointed out. The maiden edition of the award went to an exemplary Nigerian, a man described by Oteh as, “One-in-a-million”, Imeh Usuah, an Abuja airport taxi cab operator, who established his credentials as a man of integrity, an exemplarily upright Nigerian in the course of carrying out his duties in November 2007 when, he was patronized by two visitors to the country. The visitors, who alighted from a British Airways flight to Abuja, approached Usuah to take them to Transcorp Hilton in Maitama, Abuja in his cab. Usuah dutifully obliged them, got paid N4, 000 for the service. After the day’s job, Usuah took his cab for a wash only to discover a brown suitcase underneath the driver’s seat of the car. Without opening the bag, he sensed it must contain significant valuables and instinctively resolved to return it to the rightful owners at the hotel where he had dropped them off earlier in the day. Compelled by his integrity virtues, Usuah returned to the hotel with the

bag, only to meet the pensive, extremely worried and agonized faces of the men he dropped off earlier that day. They were pacing the lobby and could not even recognize him. Usuah, with the bag clutched in his armpit, approached them and said, “Oga Onyibo, this is your bag”. The agonized look of the men disappeared as their faces lit up with joy and they expressed profuse gratitude to him. They then collected his phone numbers as he made good his exit. It was much later that the Abuja Leasing Company called Usuah’s association to report that one of their members had returned the sum of N18 million left in his cab by some customers. This is how Usuah got to know that the bag he returned contained that sum of money. Same year, he returned another customer’s expensive camera left in his cab. The owner had alighted from the cab with haste at a television station and had forgotten his expensive zoom lens camera in the process. Justifying the choice of Usuah for the maiden award, the SEC boss said, “His uniquely honest act has connectivity with the moral foundation of the capital markets which is integrity. It is on account of this that SEC, on behalf of the Nigerian capital market is recognizing and rewarding Usuah with cash and investment totalling N2.5 million market instruments through subscription to the best performing collective investment scheme (CISs) of his choice”. According to Oteh, the award was designed to serve dual purpose. First, to teach a moral lesson, that “Integrity pays” and with integrity one can achieve whatever he wants to achieve in life without necessarily cutting corners. Secondly, it was used to promote CISs as investment vehicle for the retail investors to embrace Collective Investment Schemes, instead of investing directly in bonds and equity. The CIS scheme, according to her,

provides the added advantage of having a seasoned professional manage your portfolio. The diversified portfolio also helps guide against market volatility. This sturdy investment instruments which can hedge against the sort of loss of value which some investors in the market experienced in the aftermath of the 2008 market downturn. In a similar move designed to prevent the reoccurrence of the 2008 situation in the market, the Nigerian Stock Exchange (NSE), on Friday, September 21, 2012 inaugurated the Board of Trustees (BoT) of the Investors Protection Fund (IPF). The board is chaired by Gamaliel Onosode, another personification of integrity. Speaking while inaugurating the BoT, Oscar Onyema, CEO of NSE said, “With the inauguration of the BoT, we have set in motion an important vehicle for the protection of investors in our market. Henceforth, investors now have a statutorily backed avenue for reducing the losses they suffer as a result of the bankruptcy, insolvency, negligence or wrong doing of our Dealing Members”. There is no gainsaying that both regulators are working round the clock to proffer solution to the crisis facing the market. It is obvious also that they both agree that to restore investor’s confidence to the market, integrity and honesty will have to play great role. However, some observers are worried that the regulators could not identify a single operator in the market who has enough integrity virtues to win the SEC award; neither did the NSE found such a personality within the market to chair the BoT of IPF. Critics are of the view that the market needs more than the importation of personalities of reputable integrity to showcase or supervise boards to ensure that operators imbibe integrity virtues themselves. That way the market will truly attract both local and foreign investors. BC

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

A20 40

Business Courage

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

Nahco: Leveraging on investment to boost income By Tayo Adeleke

inancial analysis carried out on the six months unaudited report of Nahco Aviation for the period ended June 30 2012 showed a downward performance, suggesting that the company’s management will need to make extra effort to be able to equal its last performance. Review of the results revealed 39 per cent performance over the financial year ended December 2011. This implies that, as at six months of the ongoing financial year, the company could only achieve 39 per cent of last year audited performance. Breakdown of the half year unaudited report shows that both top and bottom line indices nosedived compared to the previous year’s performance. However, the company’s assets remained healthy, having increased significantly during the period as a result of current investment of N1.9 billion on ultra modern warehouse facility. In the last two years, the company did massive investments in facilities and equipment. So far, $40 million has been spent on the company’s ultra modern warehouse and fleets of Ground Support Equipment totalling 325. The company also responded to the heightened security challenges by investing in bomb/explosive detection machines and CCTV surveillance system. Nacho Plc remains the leader in the aviation handling sector with operations in all major airports in the country. Established in 1979, the company was fully privatized in 2005 with the selling off of the Federal Government’s 60 per cent equity holding at an Initial Public Offer (IPO) value of N5.50 per share and was subsequently listed in Nov, 2006. The company’s services include but not limited to aircraft handling, cargo handling, and passenger handling and profiling. In 2009, it changed its name from Nahco Plc to Nahco Aviance, while maintaining its registered name as Nigerian Aviation Handling Company Plc. the brand name Nahco Aviance is a product of the company’s membership of Aviation Alliancem, the Sirst alliance of airport service providers in the world of which Nahco is the only Nigerian member. Performance The company‘s unaudited 2012 half year result showed that turnover (TO) decreased by 7.9 per cent to N3.16 billion compared with N3.44 billion in 2011 second quarter report. Gross profit as well experienced decline as the figure stood at

Ojo

N1.63 billion against N1.63 billion. As a result, profit before tax (PBT) dipped by N285 million between 2011 and 2012 from N712 million to N427 million in 2012. It posted a profit after tax of N281 million in 2011 from N484 million profit in the corresponding period of 2011, showing a decline of 41.94 per cent. Meanwhile, the management of Nahco has promised its shareholders that it will improve on its performance in the next six months. The management also disclosed that it has mapped out strategies for growing its income base in the next half year after a plunge in its profit occasioned by operational disruptions in the first part of the fiscal year Profitability Profitability ratios recorded a decline in the review period as Return on Equity dropped by 3.96 basis points from 9.51 per cent in 2011 to 5.55 per cent in 2012. Similarly, profit before tax margin decreased marginally to 13.50 per cent in the second quarter (Q2) of 2012 from 20.72 per cent as at Q2, 2011. However, it was up 16.51 per cent compared to the financial year in December, 2011. This shows that the company’s total cost as a percentage of TO stood at 86.5 per cent, up marginally from

79.28 per cent recorded in the corresponding period of 2011. PAT margin currently stands at 8.88 per cent, down from 14.08 per cent in the corresponding period of 2011, up from 10.60 per cent as at financial year ended December 2011. Given the current run rates, Nahco may not be able to meet its previous year’s performance if the management of the company fail to double its effort in the next two quarters. Assets Quality NAHCo has maintained a stable level of efficiency in its asset utilization. This is reflected in the straight path of total assets turnover ratio which averaged 0.67 (x) in the last two financial years. This means that the company has been generating sales of 67 kobo for every one naira of its asset base. Assets use efficiency is Nahco Financial Data

2011 =N=(‘Nm)

more commendable among the fixed assets class even as the current asset turnover plunged from 0.95x in 2012 from 1.34 x in 2011. This may suggest that the company is less efficient in the deployment of its liquid assets in the review period. A cursory look at the balance sheet position as at Q2, 2012 compared with the position as at December 2011, shows that fixed assets increased by 19.91 per cent to N7.13 billion from N5.94 billion in 2011. This reflects the continual upgrading of NAHCO’s facilities and equipment to enable it become world-class aviation handling company. Net assets declined marginally to N5.62 billion from N5.089 billion as at financial year, 2011. Similarly, cash and bank balances decreased marginally from N505 million in full year, 2011 to N429 million in half years, 2012. NAHCO’s working capital follows the same trend, having decreased from N2.29 billion as at financial year ended December, 2011 to N962 million in Q2, 2012. Liquidity Liquidity ratio, which expresses a company’s ability to repay short-term creditors out of its total cash, shows inability of Nahco management to meet both its short term and long time obligations to creditors as they fall due in the recent

2010 =N=(‘Nm)

2009 =N=(‘Nm)

2008 =N=(‘Nm)

2007 =N=(‘Nm)

Turnover

7142

6346

6067

4430

3661

PBT

1179

1711

1897

1217

786

PAT

613

870

1001

803

590

EPS (kobo)

101

DPS (kobo)

414

406

380

343

138

Fixed Assets

5943

4484

3450

3143

3082

Net Assets

5089

4993

4677

4217

1700

615

492

375

Share Premium

1915

nil

Revenue Reserve

2276

1971

1593

1269

1062

Net Assets Per Share (kobo)

Share Capital

year. Both current and quick ratio recorded under the review period fell below the universally acceptable standard of 2.0:1 and 1.5:1 respectively. This can be attested to from the unimpressive figure recorded in its current ratio which dropped from 0.77x in 2011 to 0.65x in 2012. This implies that the company’s readily available assets cover 65 per cent of current liabilities. The company’s quick ratios for the period under review close at 0.64x from 0.76x in 2011. Further analysis shows that the company allows its debtors to make payment within 335 days (debtors’ number of days) while the company make payment to its creditors within 452 days. Prospects The Management of NAHCO Aviance stated that it was thrilled by the investments in its warehouse which have capacity for cargo regional hub, and is poised to translate them into improved performance and higher returns as the industry moves into high activity season in the second half of the year. The Managing Director of the company, Kayode Oluwasegun Ojo, had said the newly inaugurated $25 million ultra modern warehouse will generate more income for the company. According to him, the warehouse would not only boost the fortunes of the company but would also increase the revenue to the Federal Government as the Nigerian Customs Services would have more conducive working environment to work with at the Murtala Muhammed Airport, Ikeja where the warehouse is located. Based on the massive investments in its Cargo business, analysts are optimistic that the company’s performance will bounce back in a few years to come. BC

National Mirror www.nationalmirroronline.net

Business Courage A21 41

NIGERIA @ 52

Monday, October 1, 2012

MTI records N550m loss By Tayo Adeleke

ulti-Trex Integrated Foods Plc has reported a loss of N469.1 million for the financial year ended December 31, 2011. However, the company’s turnover rose by 73 per cent from N660.4 million in 2010 to N1.143 billion in 2011. Meanwhile, the company recorded some improvement as it reduced the level of loss (pre and post tax) appreciably, as loss before taxation dropped from N1.25 billion in 2010 to N540.31 million; while loss after taxation stood at N551.7 million in 2011 compared to N1.248 billion in 2010. According to the result presented to the Nigerian Stock Exchange (NSE) last Friday, Fixed Assets dropped to N391 million from N577 million but Cash and Bank balances increased from N34.9 million

Owoyemi, MD, Multi-Trex Integrated Foods Plc

in 2010 to N41.89 million while Total Assets stood at N1.01 billion as at December 31, 2011. The company’s trade creditors increased from N1.04 billion to N1.14 billion.

Bank overdraft increased from N302 million to N307 million; while working capital position worsened at deficit N924 million compared to N558 million in 2010; while net assets (shareholders’ fund) shows that shareholders have lost their investments in the company as Shareholders’ fund stood at negative N641 million, up from negative N88.94 million in 2010. Details of the audited report revealed a negative operating cash flow for the review year. The company recently notified the general public through Nigerian Stock Exchange (NSE) the voluntary resignation of Dele Kalu Udoma former Executive Director (Manufacturing) and Francis Ola Ododu former Group Head, Financial Control. BC

Chellarams halts local bicycle manufacturing By Festus Okoromadu

hellarams Plc has announced that it will cease from manufacturing bicycle locally in Nigeria until further notice. The company blamed government’s inability to protect local manufacturers against importers as the reason why it took the decision. Solomon Onafowokan, Chairman, Board of Directors of the company made this known last Thursday while presenting the financial accounts for the year ended March 31, 2012 to shareholders at the company’s annual general meeting held in Lagos. According to the Onofowokan, Chelltek Industries Limited, a subsidiary of Chellarams Plc which was engaged in the manufacturing of Bicycle in Nigeria will henceforth discontinue until the government offers better protection to local manufacturers. Addressing the shareholders on the rational for winding down the company, the Chairman said, “We are discontinuing the business of bicycle manufacturing in Chelltek Industries Limited for now, till we see better protection to local manufacturers by government”. He stated however that other subsidiaries which are performing well such as the packaging and engineering service unit (Dynamic and UTAS) will continue to operate. Presenting the company’s performance for the year, he said, “Through the improved performance of the subsidiaries and also through focus on a stronger production mix, we were able to have a turnover growth of over seven per cent from N23.35billion to N25billion and achieved a

Suresh Chellarams

profit after tax of N231.6million as against N220.3million in the previous year”. In an interview with Business Courage, Suresh Chellarams, Managing Director of the Group, said the year under review was a very difficult one. He noted that although the economy of Nigeria is growing, it has become very competitive. He praised the effort of the management and the board to have been able to make profit during the year and reward shareholders with dividend. He hinted that the current financial year is also looking very difficult. His words: “While headline numbers seem to be showing improvement, the reality on the ground is that the environment is actually getting tougher and tougher, especially for the man on the street”. However, Suresh noted that since 1947 when Chellarams has been incorporated in Nigeria, it has been a natural evolution, stressing that an 89 years old business must

evolve to remain relevant. He observed that during this process of natural evolution, the company has seen new opportunities; fly up with different type of financial and technical partners to go into new business. According to him the latest in the series is the partnership with KFC, a global brand in the restaurant business. He assured shareholders that with once their company can get a series of investments it is currently making right, it would only take the next two or three years for them to smile. Meanwhile, Aditya Chellarams, Chief Executive Officer of Chellarams argued that the stock is undervalued at the moment. As at the close of the market on Friday last week, the share price of the equity was N5.71 while the price earnings ratio is 21.96. Speaking on the usage of the monies raised through bond issued by the company last year, Aditya said, the funds were used for the uplifting of the subsidiaries. According to him, about 16 KFC restaurants have been established since it commenced business in Nigeria while four new ones are currently under construction. He stated that, Dynamic Industry, a subsidiary of Chellarams will have its capacity doubled this year as a new machine has been acquired to increase production, while a new line of business Woolworths Retail Store has commenced business with two stores and a third one expected to be opened in Enugu soon. He said they are also using the bond money to refinance as finance cost in Nigeria is currently very high. BC

Market Indicators for Week Ended 28-09-12 All-Share Index 26,011.64 points Market Capitalisation N8,282,280,373,770.58 Stock Updates GAINERS COMPANY

OPENING PRICE

INTBREW

11.80

CLOSING PRICE 12.98

CHANGE

DNMEYER

0.97

1.06

9.28

UNILEVER

40.11

42.11

4.99

10.00

NASCON

5.50

5.77

4.91

AIRSERVICE

2.07

2.17

4.83

LOSERS COMPANY

OPENING PRICE

CLOSING PRICE

CHANGE

FIDSON

1.21

1.09

AIICO

0.60

0.57

-5.00

HONYFLOUR

2.40

2.28

-5.00

AGLEVENT OANDO

-9.92

1.40

1.33

-5.00

12.21

11.60

-5.00

Inter-Bank Rates TENOR

RATE%(PREV) 20-Sept-2012

OBB

11.5000 – 15.2500

RATE%(CURR) 27-Sept-2012 10.1500 – 12.2500

CALL

12.7500 – 16.0000

10.5000 – 15.0000

Primary Market Auction TENOR

AMOUNT (N’mn)

91-Days

21,839

RATE (%) 12.70

26-Sep-12

DATE

182-Days

59,081

13.00

26-Sep-12

364-Days

23,783

13.05

26-Sep-12

Open Market Operation TENOR

AMOUNT (N’mn)

76-Days

100,000

14.00

RATE (%)

28-Sep-12

DATE

77-Days

100,000

13.97

27-Sep-12

70-Days

50,000

13.70

25-Sep-12

Wholesale Dutch Auction System AMOUNT OFFERED

AMOUNT SOLD

DATE

$200m

MARKET DEMAND $200m

$200m

26-Sep-12

$250m

24-Sep-12

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Business Courage A23 43

NIGERIA @ 52

Monday, October 1, 2012

STOCKWATCH Stock Exchange weekly equities summary as at Friday, Sept 28, 2012 SECURITY

PRICE (=N=)

AGRICULTURE/AGRO-ALLIED Crop Production FTN COCOA PROCESSORS PLC NT OKOMU OIL PALM PLC. 37.01 PRESCO PLC 15.00 Fishing/Hunting/Trapping ELLAH LAKES PLC. NT Livestock/Animal Specialties LIVESTOCK FEEDS PLC. 1.61 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. 1.33 CHELLARAMS PLC. NT JOHN HOLT PLC. NT S C O A NIG. PLC. NT U A C N PLC. 40.00 CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. 9.88 CAPPA & D’ALBERTO PLC. NT Building Structure/Completion/Other COSTAIN (W A) PLC. NT G CAPPA PLC NT Non--Building/Heavy Construction JULIUS BERGER NIG. PLC. 27.50 ROADS NIG PLC. NT Real Estate Development PINNACLE POINT GROUP PLC NT UACN PROPERTY DEV 10.92 Real Estate Investment Trusts (REITs) SKYE SHELTER FUND PLC 100.00 UNION HOMES REAL ESTATE INV NT CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC 0.50 Beverages--Brewers/Distillers CHAMPION BREW. PLC. 3.44 GOLDEN GUINEA BREW. PLC. NT GUINNESS NIG PLC 260.00 INTERNATIONAL BREWERIES PLC. 12.98 JOS INT. BREWERIES PLC. NT NIGERIAN BREW. PLC. 137.00 PREMIER BREWERIES PLC 0.89 Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. 39.00 Food Products BIG TREAT PLC NT DANGOTE FLOUR MILLS PLC 8.55 DANGOTE SUGAR REFINERY PLC 4.99 FLOUR MILLS NIG. PLC. 61.67 HONEYWELL FLOUR MILL PLC 2.28 MULTI-TREX INTEGRATED FOODS PLC NT N NIG. FLOUR MILLS PLC. NT NATIONAL SALT CO. NIG. PLC 5.77 P S MANDRIDES & CO PLC. NT U T C NIG. PLC. 0.79 UNION DICON SALT PLC. NT Food Products--Diversified CADBURY NIGERIA PLC. 23.95 NESTLE NIGERIA PLC. 580.00 Household Durables BETA GLASS CO PLC. NT NIGERIAN ENAMELWARE PLC. NT VITAFOAM NIG PLC. 3.06 VONO PRODUCTS PLC. NT Personal/Household Products P Z CUSSONS NIGERIA PLC. 25.30 UNILEVER NIGERIA PLC. 42.11 Textiles/Apparel UNITED NIG. TEXTILES PLC. NT FINANCIAL SERVICES Banking ACCESS BANK PLC. 8.62 DIAMOND BANK PLC 3.45 ECOBANK TRANSNATIONAL INC. 11.12 FIDELITY BANK PLC 1.76 FIRST BANK OF NIG. PLC 14.85 FIRST CITY MONUMENT BANK PLC. 3.20 GUARANTY TRUST BANK PLC. 19.15 SKYE BANK PLC 3.18 STANBIC IBTC BANK PLC 7.20 STERLING BANK PLC. 1.60 U B A PLC 4.50 UNION BANK NIG.PLC. 7.51 UNITY BANK PLC 0.50 WEMA BANK PLC. 0.50 ZENITH BANK PLC 16.30 Insurance Carriers, Brokers & Services AFRICAN ALLIANCE INS. COY. PLC NT AIICO INSURANCE PLC. 0.57 CONFIDENCE INSURANCE PLC NT CONSOLIDATED HALLMARK INS. PLC 0.50 CONTINENTAL REINSURANCE PLC 0.71 CORNERSTONE INS. COY. PLC. 0.50 CUSTODIAN AND ALLIED INS. PLC 1.40 EQUITY ASSURANCE PLC. NT GOLDLINK INSURANCE PLC 0.50 GREAT NIGERIAN INSURANCE PLC NT GUINEA INSURANCE PLC. NT INTERCONTINENTAL WAPIC INS. PLC 0.61 INTERNATIONAL ENERGY INS. PLC NT INVESTMENT AND ALLIED ARN. NT LASACO ASSURANCE PLC. 0.50 LAW UNION AND ROCK INS. PLC. NT LINKAGE ASSURANCE PLC NT MANSARD INSURANCE PLC 1.95 MUTUAL BENEFITS ASSURANCE PLC. NT N.E.M INSURANCE CO (NIG) PLC. 0.52 NIGER INSURANCE CO. PLC. 0.50 OASIS INSURANCE PLC NT PRESTIGE ASSURANCE CO. PLC. 0.54 REGENCY ALLIANCE INS. COY PLC NT SOVEREIGN TRUST INSURANCE PLC NT STACO INSURANCE PLC 0.50 STANDARD ALLIANCE INS. PLC. NT UNIC INSURANCE PLC. NT UNITY KAPITAL ASSURANCE PLC NT UNIVERSAL INS. COMPANY PLC 0.50 Micro Finance Banks FORTIS MICROFINANCE BANK PLC NT NPF MICROFINANCE BANK PLC NT Mortgage Carriers, Brokers &Services ABBEY BUILDING SOCIETY PLC NT ASO SAVINGS AND LOANS PLC 0.50 RESORT SAVINGS & LOANS PLC 0.50 UNION HOMES SAVINGS&LOANS PLC NT Other Financial Institutions CRUSADER ( NIG) PLC. 0.50 DEAP CAPITAL MGT & TRUST PLC NT NIG SEW. MACH. MAN. CO. PLC. NT NIGERIA ENERYGY SECTOR FUND NT ROYAL EXCHANGE PLC. 0.63 HEALTHCARE Healthcare Providers EKOCORP PLC. 5.05 Medical Equipment UNION DIAGNOSTIC &CLINICAL PLC NT Medical Supplies MORISON INDUSTRIES PLC. 5.19 Pharmaceuticals EVANS MEDICAL PLC. 1.15 FIDSON HEALTHCARE PLC 1.09 GLAXO SMITHKLINE CONSUMER PLC 36.00 MAY & BAKER NIGERIA PLC. 1.65

NOTE NT=Not Traded on 28-09-12

QUANTITY

52 WK HIGH

52 WK LOW

SHARES OUTSTANDING

EPS

MOV. (%)

NT 189 340 1 416 646

0.64 33.00 16.15

0.50 14.53 6.40

2 200 000 000 476 955 000 1 000 000 000

0.00 8.23 1.69

N/A -4.61 -2.91

NT 38.80 15.45

4.26

60 000 000

0.00

N/A

2 179 630

1.49

0.48

1 199 549 736

0.04

14.18

1.41

200 000 NT NT NT 534 124

2.54 7.60 8.82 8.28 42.50

0.74 5.81 5.32 5.52 28.70

2 191 895 983 963 900 300 389 151 408 821 666 666 1 600 720 323

0.21 0.30 0.00 0.35 7.03

2.31 N/A N/A N/A N/A

1.30 NT 5.32 NT 43.24

51 000 NT

26.00 95.49

14.09 95.49

148 500 000 196 876 000

0.00 4.50

N/A N/A

9.88 NT

NT NT

7.97 14.46

2.46 14.46

920 573 765 125 000 000

0.00 0.00

N/A N/A

NT NT

325 901 NT

62.26 8.69

21.55 3.01

1 200 000 000 20 000 000

4.11 3.66

-4.51 N/A

28.80 10.22

NT 355 582

7.28 20.15

7.28 8.82

1 375 000 000

0.00 1.66

N/A -9.90

NT 12.12

50 NT

100.00 50.00

97.00 50.00

20 000 000 250 019 781

11.75 0.75

N/A N/A

100.00 NT

170 882

0.50

4 772 528 415

0.00

N/A

0.50

10 000 NT 255 158 650 356 NT 3 669 814 1 000

4.63 0.68 255.00 7.28 3.20 122.30 0.97

2.23 0.68 186.00 5.23 1.61 72.50 0.93

900 000 000 272 160 000 1 474 925 519 2 112 914 681 562 000 000 7 562 562 340 126 000 000

0.00 0.03 12.04 0.07 0.00 5.21 0.00

N/A N/A 0.00 N/A N/A -2.14 N/A

NT NT 260.00 13.91 NT 140.00 0.89

69 093

48.91

38.31

640 590 362

3.15

N/A

39.00

NT 6 411 483 685 914 268 165 2 127 156 NT NT 1 388 921 NT 36 000 NT

0.50 19.90 16.20 95.00 6.60 2.70 43.96 6.70 5.66 0.88 4.22

0.50 4.15 3.64 52.50 1.91 1.21 21.48 3.86 5.66 0.50 4.22

2 000 000 000 5 000 000 000 12 000 000 000 1 879 210 666 7 930 197 658 3 722 493 620 178 200 000 40 000 000 1 233 375 004 360 000 000

0.00 0.00 0.59 3.60 0.36 0.00 1.20 0.81 0.16 1.13 0.00

N/A 10.89 1.84 -9.20 7.55 N/A N/A -5.41 N/A 17.91 N/A

NT 7.71 4.90 67.92 2.12 NT 21.48 6.10 NT 0.67 4.22

636 122 269 562

29.20 500.00

9.15 367.83

3 129 188 160 792 656 250

1.24 21.21

5.83 0.00

22.63 580.00

NT NT 4 443 981 NT

15.58 42.66 6.75 3.67

10.03 36.19 3.01 2.66

63 360 000 819 000 000 300 000 001

3.90 1.61 0.54 0.00

N/A N/A -0.97 N/A

NT 34.39 3.09 NT

262 445 942 184

43.50 36.45

22.07 22.56

3 176 381 636 3 783 296 250

0.51 1.32

1.65 9.35

24.89 38.51

0.97

0.57

843 284 027

0.00

N/A

27 809 551 3 912 912 3 823 185 12 778 048 42 426 490 4 233 069 7 979 628 2 681 303 3 882 750 12 448 537 20 596 968 3 552 089 9 000 4 050 000 19 107 676

11.10 9.27 17.05 3.20 16.12 8.30 17.81 10.17 11.38 2.91 4.40 10.07 1.92 1.75 16.70

4.76 2.01 9.97 1.14 8.50 3.04 11.64 2.73 6.40 0.97 1.64 1.96 0.50 0.50 11.70

17 888 251 479 14 475 243 105 9 873 614 567 28 974 797 023 32 632 084 358 16 271 192 202 29 146 482 209 13 219 334 676 18 750 000 000 12 563 091 545 32 334 693 693 13 509 726 273 33 675 576 085 12 821 249 880 31 396 493 790

0.63 0.00 2.61 0.19 1.37 0.60 0.59 0.39 0.54 0.43 0.01 2.20 0.00 1.34 1.41

-8.88 -3.90 -2.88 -0.56 2.41 0.63 -0.26 0.32 0.84 3.90 -2.17 -17.74 0.00 0.00 -1.21

9.46 3.59 11.45 1.77 14.50 3.18 19.20 3.17 7.14 1.54 4.60 9.13 0.50 0.50 16.50

NT 5 843 812 NT 2 500 677 000 50 000 1 352 000 NT 315 000 NT NT 142 450 NT NT 1 500 NT NT 173 831 NT 5 943 548 774 000 NT 60 000 NT NT 50 200 NT NT NT 14 000

0.50 1.01 0.64 0.50 1.20 0.50 3.51 0.50 0.69 0.50 0.50 0.80 0.50 0.50 0.50 0.61 0.50 1.93 0.50 0.66 1.11 0.50 2.35 0.50 0.52 0.50 0.50 0.50 0.50 0.50

0.50 0.50 0.61 0.50 0.61 0.50 1.31 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.95 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50

20 585 000 000 7 809 391 256 211 626 000 6 000 000 000 10 372 624 157 8 820 010 363 5 100 846 808 8 847 298 420 4 549 947 000 3 827 485 380 720 000 000 5 061 804 000 6 420 427 449 28 000 000 000 7 323 313 227 3 437 330 500 4 083 713 569 10 000 000 000 7 998 705 336 5 332 830 881 5 649 693 923 5 003 506 791 2 508 315 436 6 668 750 000 5 203 757 266 6 141 087 609 8 493 173 450 2 581 733 505 13 000 000 000 16 000 000 000

0.00 0.09 0.00 0.06 0.10 0.01 0.27 0.00 0.00 0.00 0.00 0.06 0.00 0.02 0.02 0.10 0.00 0.08 0.10 0.25 0.01 0.02 0.11 0.03 0.10 0.00 0.00 0.00 0.01 0.00

N/A 0.00 N/A N/A 0.00 0.00 0.00 N/A N/A N/A N/A N/A 0.00 N/A N/A N/A 0.00 9.55 N/A 0.00 N/A N/A 8.00 N/A 0.00 N/A N/A N/A N/A N/A

NT 0.60 NT 0.50 0.70 NT 1.31 0.50 0.50 NT NT 0.61 NT NT 0.50 NT NT 1.78 0.50 0.52 0.52 NT 0.50 NT NT 0.50 NT NT NT 0.50

NT NT

NT 1.15

NT 2 000 2 000 000 NT

1.51 0.50 0.50 0.99

1.33 0.50 0.50 0.50

4 200 000 000 8 679 148 676 13 175 732 404 7 812 500 000

0.03 0.10 0.00 0.00

N/A N/A N/A N/A

NT 0.50 0.50 NT

78 000 NT NT NT 65 766

0.61 2.02 0.15 552.20 0.66

0.50 2.02 0.15 555.20 0.50

3 778 005 975 1 333 333 333 5 880 000 2 500 000 3 608 657 661

0.00 0.00 0.00 12.68 0.05

N/A N/A N/A N/A N/A

0.50 NT NT NT 0.63

1 000

5.31

5.05

498 600 908

0.12

N/A

5.05

0.50

3 553 138 528

0.00

N/A

50 000

10.54

7.39

152 178 750

0.00

N/A

5.46

250 000 25 993 045 10 644 246 321

N/A=Not Avialable

1.45 3.20 29.65 5.61

0.50 0.76 19.30 1.62

486 473 856 1 500 000 000 956 701 192 980 000 000

0.19 0.27 2.41 0.21

0.00 -29.68 0.00 0.61

1.15 1.55 36.00 1.64

SECURITY

PRICE (=N=)

NEIMETH INT PHARM PLC 1.15 NIGERIA-GERMAN CHEMICALS PLC. NT PHARMA-DEKO PLC. NT ICT Computer Based Systems COURTEVILLE BUSINESS SLN PLC 0.50 Computers and Peripherals OMATEK VENTURES PLC NT Electronic Communications Services MTECH COMMUNICATIONS PLC NT IT Services NCR (NIGERIA) PLC. 13.77 TRIPPLE GEE AND COMPANY PLC. NT Processing Systems CHAMS PLC NT E-TRANZACT INTERNATIONAL PLC NT Telecommunications Carriers STARCOMMS PLC NT Telecommunications Services IHS NIGERIA PLC PREF SHARES NT IHS PLC 2.34 MTI PLC NT INDUSTRIAL GOODS Building Materials AFRICAN PAINTS (NIGERIA) PLC. 2.86 ASHAKA CEM PLC 15.10 BERGER PAINTS PLC 8.01 CAP PLC 28.90 CEMENT CO. OF NORTH.NIG. PLC 4.90 DANGOTE CEMENT PLC 123.00 DN MEYER PLC. 1.06 FIRST ALUMINIUM NIGERIA PLC NT IPWA PLC NT LAFARGE WAPCO PLC. 56.00 PAINTS & COATINGS MANFACT.PLC 1.90 PORTLAND PAINTS & PRDT NIG. PLC 3.46 PREMIER PAINTS PLC. NT Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC NT CUTIX PLC. 2.21 NIGERIAN WIRE AND CABLE PLC. NT NIGERIAN WIRE IND. PLC NT Packaging/Containers ABPLAST PRODUCTS PLC. NT AVON CROWNCAPS & CONTAINERS 2.09 GREIF NIGERIA PLC NT NIG. BAGS MANFACT. COY PLC 1.91 POLY PRODUCTS (NIG) PLC. NT W A GLASS IND. PLC. NT Tools and Machinery NIGERIAN ROPES PLC NT STOKVIS NIG PLC. NT NATURAL RESOURCES Chemicals B.O.C. GASES PLC. 5.98 Metals ALUMACO PLC NT ALUMINIUM EXTRUSION IND. PLC. 10.55 Non-Metallic Mineral Mining MULTIVERSE PLC 0.50 Paper/Forest Products HALLMARK PAPER PRODUCTS PLC. NT THOMAS WYATT NIG. PLC. NT OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SER. PLC 0.59 Integrated Oil and Gas Services OANDO PLC 11.60 Petroleum &Petroleum Products Distributors AFROIL PLC NT BECO PETROLEUM PRODUCT PLC NT CONOIL PLC 19.70 ETERNA PLC. 2.42 FORTE OIL PLC. 10.50 MOBIL OIL NIG PLC. 115.00 MRS OIL NIGERIA PLC. 32.29 TOTAL NIGERIA PLC. 130.00 SERVICES Advertising AFROMEDIA PLC 0.50 Apparel Retailers LENNARDS (NIG) PLC. NT Automobile/Auto Part Retailers R T BRISCOE PLC. 1.86 Courier/Freight/Delivery RED STAR EXPRESS PLC 3.00 TRANS-NATIONWIDE EXPRESS PLC. NT Employment Solutions C & I LEASING PLC. NT Hospitality TANTALIZERS PLC NT Hotels/Lodging CAPITAL HOTEL PLC NT IKEJA HOTEL PLC 1.04 TOURIST COMPANY OF NIGERIA PLC. NT TRANSNATIONAL CORP. OF NIG.PLC 1.15 Media/Entertainment DAAR COMMUNICATIONS PLC 0.50 Printing/Publishing ACADEMY PRESS PLC. 1.57 LEARN AFRICA PLC 2.01 STUDIO PRESS (NIG) PLC. NT UNIVERSITY PRESS PLC. NT Road Transportation ABC TRANSPORT PLCPLC 0.50 Specialty INTERLINKED TECHNOLOGIES PLC NT SECURE ELECTRONIC TECH.PLC NT Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC 2.17 NIG. AVIATION HANDLING COY PLC 5.75 ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC NT CONSUMER GOODS Food Products MCNICHOLS PLC NT Personal/Household Products ROKANA INDUSTRIES PLC. NT HEALTHCARE Pharmaceuticals AFRIK PHARMACEUTICALS PLC. NT INDUSTRIAL GOODS Electronic and Electrical Products NT ADSWITCH PLC. 1.63 NATURAL RESOURCES Metals W.A. ALUM. PRODUCTS PLC. NT OIL AND GAS Petroleum & Petroleum Products Distributors ANINO INTERNATIONAL PLC. NT CAPITAL OIL PLC NT RAK UNITY PET. COMP. PLC. NT UNION VENTURES & PET. PLC NT SERVICES Apparel Retailers UDEOFSON GARMENT FACT. NIG PLC NT Food/Drug Retailers and Wholesalers NT JULI PLC. 2.76 ETF’s Sector ETF NEWGOLD EXCHANGE TRADED FUND 2 638.00

QUANTITY

52 WK HIGH

52 WK LOW

SHARES OUTSTANDING

EPS

MOV. (%)

152 720 NT NT

1.96 12.91 4.28

0.76 8.59 3.50

1 925 717 268 153 786 012 100 000 000

0.09 0.00 0.00

25.00 N/A N/A

0.92 NT 3.02

30 000

0.52

0.50

2 960 000 000

0.08

0.00

0.50

2 941 789 472

0.04

N/A

0.91

4 966 666 668

0.00

N/A

6 793 NT

18.28 3.59

13.12 2.41

108 000 000 492 825 600

1.82 0.00

N/A N/A

13.77 2.41

NT NT

0.50 4.97

0.50 4.04

4 620 600 000 4 200 000 000

0.00 0.00

N/A N/A

0.50 NT

1.47

0.50

6 878 478 096

0.00

N/A

NT 203 465 NT

2.25 3.50 0.50

0.00 2.46 0.50

4 400 000 000 4 893 594 400

0.00 0.00 0.00

N/A N/A N/A

NT 2.34 NT

4 000 2 974 931 1 000 12 329 121 872 317 515 61 625 NT NT 1 289 730 10 000 54 000 NT

3.32 30.00 12.57 43.98 15.49 132.51 3.51 0.75 0.99 48.05 3.36 5.28 13.40

2.86 9.10 7.27 14.50 4.20 95.00 0.93 0.50 0.91 37.00 0.52 2.27 10.93

260 000 000 2 239 453 125 217 367 585 560 000 000 1 241 548 285 15 494 019 668 242 908 200 2 109 928 275 513 696 000 3 001 600 004 792 914 256 400 000 000 75 000 000

0.00 1.60 0.15 1.76 1.83 8.01 0.00 0.00 0.00 1.74 0.16 0.39 0.00

N/A 9.58 0.00 0.00 1.45 5.80 N/A N/A N/A 1.84 N/A N/A N/A

NT 13.78 8.01 28.90 4.83 116.26 0.81 NT NT 54.99 1.81 3.15 NT

NT 609 984 NT NT

2.00 2.50 0.73 2.58

2.00 1.33 0.50 2.58

510 396 608 2 220 000 000 15 000 000

0.03 0.11 0.00 0.00

N/A 16.32 N/A N/A

2.00 1.90 NT NT

NT 18 196 178 NT 2 894 186 NT NT

3.98 6.91 15.03 3.60 1.86 0.63

3.98 2.19 13.28 1.60 1.05 0.63

25 000 000 683 974 528 42 640 000 6 215 000 000 240 000 000 199 066 550

0.00 0.15 0.90 0.22 0.30 0.00

N/A N/A N/A -1.04 N/A N/A

NT NT NT 1.93 1.05 NT

NT NT

8.69 0.14

8.26 0.14

265 409 280 2 918 000

0.00 0.00

N/A N/A

NT NT

2 000

9.20

5.70

393 120 000

0.93

0.00

5.98

NT 5 000

7.75 12.39

7.75 10.55

75 600 000 100 000 000

0.00 0.13

N/A N/A

NT 10.55

10 000

0.50

4 058 989 226

0.00

N/A

0.50

NT NT

3.22 1.38

50 000 000 220 000 000

0.04 0.00

N/A N/A

NT NT

8 515 649

1.87

0.54

6 262 701 716

0.16

-6.35

0.63

5 551 200

78.97

13.95

2 262 711 568

7.47

-15.70

13.76

NT NT 89 695 205 000 239 046 10 072 470 10 127

20.71 0.70 41.89 5.59 28.69 163.50 72.00 240.00

20.71 0.50 19.61 2.12 9.12 111.51 32.29 125.00

125 487 475 3 716 976 579 693 952 117 1 249 162 828 1 080 280 628 300 496 051 253 988 672 339 521 837

0.00 0.00 5.98 0.88 0.00 13.06 4.08 11.22

N/A N/A -4.74 1.68 -4.55 0.00 N/A 0.00

NT NT 20.68 2.38 11.00 115.00 32.29 130.00

5 454

0.72

0.50

4 035 497 307

0.00

N/A

3.48

0.19

N/A

308 808

3.65

1.12

980 294 400

0.22

2.20

1.82

278 000 NT

3.67 6.40

2.11 3.28

589 496 310 198 819 763

0.63 0.26

0.00 N/A

3.00 NT

1.64

0.85

865 808 912

0.20

N/A

0.50

0.75

0.50

3 211 627 907

0.01

N/A

NT 1 623 561 NT 11 120 666

8.00 2.59 4.76 1.82

3.00 1.16 4.31 0.50

1 548 780 000 2 078 796 396 1 772 884 297 25 813 998 283

0.18 0.92 0.00 0.22

N/A -7.14 N/A 13.86

6.60 1.12 NT 1.01

10 000

0.50

8 000 000 000

0.00

N/A

0.50

61 200 45 000 NT NT

3.68 8.00 2.92 6.82

1.64 1.94 2.78 3.09

403 200 000 771 450 000 425 641 111

0.14 0.29 0.01 0.50

N/A N/A N/A #VALUE!

NT 2.11 NT 4.55

173 940

0.80

0.50

1 507 000 000

0.00

N/A

0.50

NT NT

5.15 1.88

4.90 0.80

236 699 511 5 631 539 736

0.00 0.03

N/A N/A

NT NT

70 350 319 045

2.78 11.75

1.54 5.15

634 000 000 1 230 468 750

0.38 0.81

N/A -2.87

2.08 5.92

1.43

1.04

45 000 000

0.12

N/A

1.02

201 885 335

0.00

N/A

0.60

30 000 000

0.00

N/A

0.50

24 898 850

0.00

N/A

NT 500

1.88

1.63

125 005 250

0.00

N/A

NT 1.63

0.50

6 650 000

0.00

N/A

NT NT NT NT

0.21 0.50 0.31 0.63

24 200 000 5 857 500 000 15 000 000 98 600 000

0.00 0.00 0.00 0.00

N/A N/A N/A N/A

NT NT NT NT

NT NT 16 000

0.50

20 000 000

0.00

N/A

3.05

2.76

194 700 000

0.00

N/A

NT NT 2.76

100

2 706

2 422

0.00

2 638.00

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Nigeria has no business borrowing Dr Ayo Teriba is CEO of Economic Associates, Lagos. In this interview with General Editor, LANRE OYETADE, he speaks on the myriad challenges facing the nation’s economy and steps that need to be taken to ensure that Nigeria realises it potential. Necessary modifications to fiscal federalism Our fiscal federalism requires a lot of tinkering. For one thing, I think that the states should be given more access to the resources in their jurisdiction. Quite a number of sectors are put on the federal legislative list, and once they are, the Federal Government sees this to mean that they have monopoly of controlling such a sector. I don’t think that the fact that the Federal Government is legislating on such sectors mean that the Federal Government should operate such sectors. It can legislate on them and let others operate. Like telecoms, it’s on the exclusive legislative list, but it’s now operated by the private sector. I know the Federal Government says that they won’t allow states to operate it but that does not mean that government cannot work out an arrangement by which states can ensure that those sectors are well operated in. The states, the zones could be given a role, those resources could be exploited, the same with other sectors. States should be given more access to the resources within their jurisdiction. And then their revenue should relate to what is generated within their jurisdiction. Many states are potentially richer than they are, if they should exploit the resources that they have, if the revenue allocation formula gives them something reasonable from what they have. Overall assessment of fortunes and misfortunes after 52 years We didn’t do well in the face of adversity. We tended to live as if the only condition that was permanent was that of boom, and whenever we feel contraction, we fall apart. That is where some of the other countries are better than us. They lived their lives even in the time of boom as though the adversity was going to come any moment. Therefore, they were prepared and better able to cope. Here, we lived as if boom was permanent. However, this is not just a problem of developing countries; it’s a problem for developed countries as well. You see what is happening in the Euro area? You see what Japan is going through? Or what happened to the US during the recession, they have had their challenges but they are not living in the past, they are solving the problems, and they are emerging. They see it as a problem for their country; nobody is planning a coup, or overthrowing a government, blaming them for something that is just a cyclical downturn. I think that is a lesson Nigeria should learn; that when adversities come, they should recognize it for such, and learn how to deal with it. We didn’t manage the adversities of the 80s and 90s well enough. There were so many coups that were not necessary. Now that the boom is back, we should focus more on how to seize the opportunities, and how to care for the possibility that this boom may again roll by. We should talk more on how to stabilize our economic revolution. Nigeria vrs Malaysia, Thailand, and other developing countries Well, the truth about those countries- Malaysia, South Korea, Taiwan, Singapore, is that we can’t say we started off at the same time. If we go back 50 years, about the time Nigeria became independent, Nigeria more or less has seen itself as a country that had arrived whereas those countries were struggling for survival. So, initial conditions differed between Nigeria and these countries. They were struggling to get into reckoning in the global scheme of things, while we were already in the reckoning. The oil boom of the 70s also added to our folly, we had this false sense of ‘we were giants in Africa’. Our problem was not money, but what to do with money. So, it was in that euphoria that the global crisis struck in the early 80s. We were unprepared, and be-

Teriba

THERE IS NO COUNTRY THAT DOESN’T HAVE SECURITY THREATS. AND SOME COUNTRIES COMBINE SECURITY THREATS WITH THE RISK OF NATURAL

DISASTERS. THESE ARE NOT GOING TO STOP INVESTORS cause they were marginal economies, they were prepared to confront that global economy. We had it, but they didn’t have anything. It was a case of ‘he who is that is down needs fear no fall’ for them. We had things and we lost the things we had to the shock of that global contraction, the emergence of the debt crises…we were caught in the debt crises, and we had macro-economic instabilities that robbed us of the economy that we had achieved prior to the 80s and 90s. That’s the comparison really between us and them. The initial conditions were better for us than it was for them. The harsh conditions that they faced made them wise, and by the time that the global crises struck, they were still struggling so they went through the crises better. By the time the global crises struck for us, we had a false sense of wealth, security, and the global crises proved all that wrong. If that crises had ended by about 1999, and you enter an era of growth, and Nigeria’s growth is less than a decade old now, so we should look for lessons we should learn from our past, how we too can convince ourselves of the fact that we became marginal in the global scheme of things. We were the giants of Africa, but we need to be giants once again. Need to cushion against vagaries of the oil market That language is more appropriate to the early 80s. In the last one or two decades, it has become inappropriate – ‘vagaries of the oil market’, or ‘vagaries of the commodity market’. Commodity prices have become a lot more stable, and a lot more positive. We have seen the build-up to the global crises, the contraction was short-lived, and it lasted three quarters. Even what we see now as weakening of the oil prices never dropped below 90 dollars in the last couple of years compared to what obtained in the 80s. Attracting new investments in face of unstable security situation There is no country that doesn’t have security threats. And some countries combine security threats with the risk of natural disasters. These are not going to stop investors, neither will sporadic bombing of the churches in isolated locations; I don’t think that affects investments, to be honest. So we should ask questions more about the policy en-

vironment. There are two components here; we’ve got the macroeconomic system and we got the structural policy, the challenge of stabilizing an economy. I think the more important one is the structural policy, given that Nigeria has a wide variety of investment opportunities. The problems you have in many of the big investment sectors, you had the same problem with telecom, or the same problem you have with power, where government is the obstacle. As long as government is holding on to utilities where private investors play a role, there will always be obstacles. The point was very well made by Jeffery Sax when they visited him in the early 90s and said ‘the problems in telecoms and power is that government should get out of the way’. When government got out of the way in telecoms, you could see the investments that came in telecoms. When government gets out of power, you will see the investments that will come into that sector. I also hope government will get out of the way in rails. When you ask, they will tell you that rail is usually owned by government, and I ask, ‘what about in the US?’ and they will say that is the exception. So what can we do to encourage private investors in rail? Government says it doesn’t have the money, so if you know you don’t have money, why obstruct people? Each region, each state, can look for what little it can contribute and these can make a stronghold. It remains potential opportunities because government wants to be the one refurbishing rails with old coaches; they could paint those coaches, have them running but nobody will take that as a serious proposition. And the place of rail in modern-day economy is very important. By rail we can move goods and people, and generate a lot of employment. I hope it doesn’t take as long as it takes in power for government to allow private investors to come in and take over the rails. On Nigeria’s rising debt profile My only worry is that we save as a federation, yet the Federal Government borrows. I think the oil benchmark should be set in such a way that there will be a safer balance; chose a benchmark that does not have a deficit. The state governments ran N130bn deficit, while the Federal Government ran more than 10 times that. The local governments had about N3bn surplus. It goes back to, if you let enough money come out of the federation account, such that, if you look at the savings… last year when the Federal Government ran a N10m deficit, the share of the Federal Government in the savings will be more, and yet, it will be paying 15 per cent of more interest on the deficit that it has. So it consists of about half a trillion naira paid out in debt servicing on money that you probably did not need to borrow. That is my own problem with it. The deficits are avoidable, and we should avoid them. Saudi Arabia is not running any deficit at this time of high oil price, neither should Nigeria. The only reason Nigeria is running it is not that oil prices are low; it’s that we chose oil price benchmarks that are too low. Who are we trying to impress? How can you have money of your own and yet borrow? That’s my worry about the debt. On future of Nigeria’s economy A question about the future of Nigeria is perhaps a little easier for us to handle. I don’t think that on the whole, the promise of Nigeria is very strong. Nigeria has vast resources, and across the different regions of Nigeria, you have diversities in resource endowment; we are a strong agricultural country with the potential for rapid improvement because the yields are still very low in agriculture, and if we invest yield-enhancing technology, you can have a revolution in the agricultural sector. That could feed industrialization; it could feed a growing industry. Just like telecoms catalyses other activities in the country, if we are able to resolve real agricultural productivity, it could catalyze industrialisation in the country, and enhance the linkage between agric and industry. If farm products can be more easily transported to the factories, it will also have power to boost production and cost could fall. Agriculture is mostly from the North and the South West is rich in commerce, the two can be more strongly linked. The South-East/SouthSouth has oil and gas, and that makes for a much diversified economy.

Brands & Marketing

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Brands of yesteryears: Survivors in a discerning market The ability of any brand to remain relevant to the need of consumers for ages lies in its ability to innovate with time. In 1960 when Nigeria gained independence, Nigerian consumers experienced influx of many brands but today, some of these brands have either disappeared, become market leaders or followers. ADEDEJI ADEMIGBUJI look at how some selected brands have fared. 7UP: Truly an independent brand

n October 1st 1960, the same day Nigeria got her independence; Nigerians also experienced the birth of the soft drink giant as the first bottle of 7Up rolled out from the Ijora, Lagos factory of the company. Since then, the brand has enjoyed a special affinity with the Nigerian psyche. So many consumers’ of soft drinks would not forget Seven-up in a hurry especially for its TV commercials that position the drink as a refreshing experience with a clear difference other brands cannot offer. Like Nigeria, it has passed through tough market challenges. Sprite, a competition brand almost gave 7Up a run for its money before it launched aggressive marketing to override competition. The Difference is Clear slogan, the Fido Dido advert animation remains one of the most memorable commercials 7Up brand has fixed in the minds of consumers. The Seven-Up bottling Company Plc, today remains one of the largest independent manufacturers and distributors

of the well-known and widely consumed brands such as Pepsi, 7UP, Mirinda, Teem and Mountain Dew produced and marketed in all nine manufacturing plants in Nigeria. Bournvita: Sustaining household name status Since 1960 when it was introduced into the Nigerian market, Bournvita has become virtually synonymous with the cocoa drink. It market appeal has grown exponentially from the small elite clientele when it was first imported in measured small quantities imported from England. Bournvita has grown to become not just an icon across the length and breadth of Nigeria. Facing stiff competition from Nestle’s Milo, which currently is the second leading beverage brands as rated by AMPS 2010, Bournvita remains the market leaders and has brushed off upstarts such as Pronto, Vitalo, Ovaltine which have been reduced to market followers by the market share. Aggressive marketing with a special appeal to children has ensured that Bournvita is a must have item in every home.

FAN Milk: Nourishing the nation since 1960 For many middle aged urban dwellers, Fan Milk was part of growing up. Through brand extension, its brand power of refreshing experience has made it a number one choice for consumers who are still served with trademark bicycle carts. Introduced in 1960 by a Danish merchant, Fan Milk products have reached virtually every nook and cranny of the country. But during the 1980s and 1990s, import restrictions, economic difficulties, devaluations and shortages of fuel weakened Fan Milk Plc. In 1998, the foreign partner and the Industrialization Fund for Developing Countries ( Denmark), agreed to an infusion of capital which let the company restructure finances, refurbish cold rooms, increase the number of depots and introduce a product, Tampico, a fruit drink which became an instant success in the market. Today, the Fan Milk brand has stood the test of time with brand presence in other West African countries such as Ghana, Senegal, Togo, Benin, Burkina Faso and Code d’Ivoire. . Vaseline: Trusted through the years Cheseborough Pond introduced Vaseline petroleum jelly in the 60 and till today, it remains the number one skincare products with brand loyalty across all segments of the society. It became a Unilever brand after the merger with Cheseburough Ponds in 1987, but the basic Vaseline products - Vaseline Baby Jelly and Vaseline Blue Seal –

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

have remained a homemaker’s delight. Other more sophisticated Vaseline products that have flooded the market in recent years such as beauty lotions continue to enjoy high patronage derived from Nigerians’ long standing affinity with the flagship products. STAR: Market leader since 1960

Though Star was first produced on June 2, 1949 as a Nigerian brand of beer, it attained the market leader status in 1960. Being the first indigenously brewed beer with such acceptability in a market that was dominated exclusively by imported brands was tough for the brand. But the Nigeria’s independence appeared to have paved the way for its rising fortunes fortune with sales of about 2,191,376 million crates in 1962 and by 1975, the figure had risen to 11,266,000. Star is largely responsible for the growth of the Nigerian indigenous beer industry influencing berth of other successful brands such as Gulder, Maltina, Heineken, and Legend Extra Stout among others. In 2007, Star took another innovative stride by introducing packaging in cans and today, remains an icon of the brewery industry.

NIGERIA @ 52

Bongo Coffee and Kettle Tea, among others. Lipton first came to Nigeria in 1959 under the Van Den Bergh Foods Company to give the expectant citizens an opportunity to join millions of others worldwide in savouring its unique blend. In 1972, however, Unilever acquired the world wide Lipton Tea Business and it became a Unilever Nigeria’s brand in 1985. A global market leader in both leaf and ready-to-drink tea, Lipton has become a household name in Nigeria often confused with the generic product. The launching of other dark bag teas is yet to effectively challenge its market leadership. Guinness: Enduring brand appeal makes Nigeria official largest market Nigeria is now officially the largest market for Guinness Foreign Extra Stout in the world a testimony to the runaway success that the dark beverage has achieved in this market over the years. It was initially introduced into the Nigerian market through importation in the 40’s and Guinness Foreign Extra Stout was first produced in Nigeria in 1962 at the Ikeja factory, to meet burgeoning demand. For over 60 years, Guinness Foreign Extra Stout has been sold in Nigeria making it one of the most loved brands in the country. But despite competition from Legend Extra Stout, a dark ale from Nigerian Breweries, Guinness Stout has retained its distinct appeal with constant reinforcement of its brand presence by various no-expenses-spared campaigns and promotions.

Golden Penny: Still a runaway success

Flour Mills of Nigeria Plc, is one of the largest and most successful industrial conglomerates in Nigeria on account of its Golden Penny brand. The company’s activities span flour milling, pasta manufacturing, port operations, cement trade and manufacturing, fertilizer blending, manufacturing of bags other packaging materials and agricultural business but the Golden Penny brand given to its food products including wheat flour, semovita (semolina) is the reason why it remains a truly Nigerian brand fending off stiff competition from relatively new comers such as Dangote and Honeywell

ROBB: Still soothing away little troubles Robb is most remembered as a handy aid to combat cold and catarrh was launched in 1962, two years after independence. The product had quickly established itself as market leader and has become the generic name for ointments in Nigeria. Until 2009, the trademark tin package maintained the same features in terms of graphics and presentation. Recently, it has been relaunched and three new variants were added to the Robb family; Robb Junior, especially developed for kids, Robb Super Intense Heat and Robb Tarzan Herbal. Robb Well-being has products for the entire family. But failure of the brand to rebrand early enough nearly robbed it off its market share. Yet, Nigerians still feel its soothing relief when the occasion demands. In terms of market availability, its distributive chain has given the brand presence in every nooks and crannies of the country where other brands are not readily available for consumers.

Lipton Tea: Delighting the Nigerians’ palettes The dark tea brand produced by Lipton of Nigeria Limited has survived the tide of Nigeria’s tough market forces unlike other brands from the same stable such as

Brands & Marketing

the brand name of A.J Seward. Sold for N2.00 in 1978, it is one of the brands existing since Nigerian independence. The product was one of the popular brands in the last three decades, but it can still be found in the market with less ability to compete with other lotion products. Its sister product, Satin Sheen has gone with the tidal wave of Nigeria’s economic problems. OMO: Favoured by generations of households

Unarguably, no detergent has had a profound history in Nigeria like OMO. The brand has been used by generations of domestic households to become a generic name for detergents not just in Nigeria but many parts of the world. Local production of OMO began in Nigeria in 1962 at the Lever Brothers (now Unilever) factory, Aba. Since then, the brand has not only grown with the country over the years, but it has also made several improvements on its formulation to bolster its cleaning properties and ensure that it is consumers’ detergent of choice.

Tetmosol: Tetmosol, a Jagal’s brand was first a well known brand of Chemical & Allied Products Limited’s Pharmaceutical Division. It is one of the oldest medicated soaps in Nigeria. Despite market competition, it is a leading medicated soap in the Nigerian market. To stay in the market, it has rebranded and repositioned to meet the current market needs, hence, the new Tetmosol Original Citronella, Tetmosol Aloe Vera and Tetmosol Lemon Fresh.

Bongo Coffee: Gone with the wind Bongo Coffee, a product from Lipton of Nigeria Limited, was one of the most advertised brands of coffee. But as a result of competition from Nestcafe, coupled with other social economic factors, the product has disappeared from the market. Many would still recall those radio jingle theme song. Where are they now? This is the question that loyal consumers of the some of the under listed products will want to ask. They include Robin Blue, Masnion Polish, Target cigarette, Disprin, Choca Choca by Cadbury, Reward Soap by Unilever, Drive Detergent, Signal Toothpaste, Sunsilk Shampoo, Surf Detergent, Tree Top etc, Planta Margarine, Satin Sheen, Jeleen, Monica Smart etc.

Fresh/ Satin Sheen: Mixed fortunes from A.J Seward’s family Fresh moisturizing cream was first produced under

PLACE YOUR ADVERT HERE

Interview

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

‘Nigerians are getting more miserable’ Bismarck Rewane, banker, economist and highly respected financial markets analysts is the Chief Executive of Financial Derivatives Company, a Lagos-based investment bank. He speaks on the key issues affecting Nigeria economy and the challenges confronting policy makers in this interview with Deputy Editor, Ayo Olesin Are we in the right direction in terms of moving our economy forward? What I can tell you is that not much has changed as far as the Nigerian economic story is concerned. It’s resourceendowed, great potential, but sub-optimal performance. But we can do much better if we prioritise and we make those hard choices. That is the story. The reality is that we are going at six per cent because there are major constraints to growth. Those constraints remain daunting and there are efforts towards overcoming the constraints. We have not been effective in overcoming those constraints because once one of the major constraints is removed, it become easier to deal with the other ones. Now, as an economy, let take a look at the economy score cards. Looking at short terms variables, the exchange rate has been pretty stable over the last three to four years. So, the level of volatility has actually reduced. In terms of parallel market discounts, it has reduced because of the removal of those constraints, which allows the banking system to now settle transactions through the MasterCard and Visa card process. So, essentially, what we have is that the Mallams and other people who bring money on the streets have actually been walked out of the job. Except for money laundering transactions, all other legitimate transactions are being handled via the card settlement system at a better rate. So, to that extend; one, the volatility of exchange rate has reduced and the segmentation of the foreign exchange market has reduced and that is good. In terms of inflation, inflation which has risen up to 14 per cent has come down top 11 per cent. Why? Because there are just money-push factors as against the money supply. We still have underlying inflationary rate because money supplying is growing negatively at about minus one per cent, minus two per cent. If we have normal money supply growth rate of, say, 25 to 28 per cent, which is targeted, then, we would not be talking of 11 per cent per cent but we would be talking of something much higher in terms of inflation. But can an economy continue to grow effectively with money supply growth at zero or near zero? No, it’s not possible because you are constraining liquidity. So, inflation has been managed but the underlying inflationary threats remains. Money market rates equal to the rate of inflation and therefore, national savings ratio has increased to about 32 per cent. Unemployment is stubbornly high. You are not having high GDP growth; rather, you are having high GDP growth relative to other countries but not relative to your potential. The potential GDP growth is 21 per cent while your real GDP growth is six per cent. That difference of 16 per cent is huge. It is one of the highest in the world, which means your real GDP is 16 per cent below your potential GDP growth. In other words, if you had the capacity to run 100 meters in 10 seconds, and came first when you run at 11.5 seconds, it means that you are winning but you underperforming your own potential because you have the capacity. Let us look at this mismatch between fiscal and monetary policy, because many people cannot understand why government keeps pumping money into the system and the CBN is busy taking it out. That is a natural relationship between fiscal policy and monitory policy anywhere in the world. Fiscal policy is about stimulus; monetary policy is about stability. So, if you over stimulate, the monetary policy will stabilise it. That is why they use Open Market Operation and the Reserves Ratio and all that. So, there is no contradiction in that. It is a natural relationship. However, I want to point out something here. There is what we call the Misery Index. Misery

Rewane

WE HAVE NOT BEEN EFFECTIVE IN OVERCOMING THOSE CONSTRAINTS BECAUSE ONCE ONE OF THE MAJOR

CONSTRAINTS IS REMOVED, IT BECOME EASIER TO DEAL WITH THE OTHER ONES index is unemployment plus inflation. The mystery index is probably at its highest point over the years but it is now beginning to reduce but the rate of reduction in inflation is not as fast as the rate of increase in unemployment. Therefore, the misery index is actually increasing. There are more Nigerians that are miserable today than they were a year ago or lets say 10 years ago. Statistically, they look better but you have to go beyond the numbers and that is why I looked at what is called the Misery Index. Are the people happier or more miserable? Misery Index is unemployment plus inflation and if you add that number together, you are running to almost 45 per cent as against 40 per cent about two years ago. Let us focus on the government’s drive towards investments in the last in the last 13 years, with specific attention to FDI inflows. Are the efforts been made commensurate with the results we have seen so far? FDI flow went as high as $8bn, came down to around $6bn. Generally, FDI flow all over the world has reduced because of the problem in Europe and other such crises but I think that no economy can thrive on just FDI. FDI should come to complement domestic investments. Domestic investment rate has actually reduced, one; because of the calamity in the stock market. Secondly, it is also because the investors feel an adversarial relationship between government and investors. There are multiple taxes here are there. The ease of doing business in Nigeria has reduced. Nigeria in the area of doing business index has actually dropped. So those are the things that the government is looking at suffering. There are many progrrammes that the government is

looking at that I think will address some of these issues and these things are not overnight sensations. There’s these talk of growth, are we actually growing? Growth is a function of resources, productivity and development. The human development index and physical development index are not showing anywhere in Nigeria. If you ask: How many new roads have been built over the past 10 years in Nigeria? How many bridges? And so on. If you pick those development indexes, they are pretty weak. So, you are driving a car and you are not getting anywhere with it. You are just flogging it; you should know that very soon, the engine will knock. I am trying to look at the budget issue; it has also been a lingering issue. Why can’t we just get value for money? In terms of value for money, we are getting value for money. For instance, phone calls that used to cost subscriber N50-N60 Naira 10 years ago is now costing you about N20. I am talking about leakages No leakages are different thing. But I’m saying that the value has increased. You used to use N50 per minute on phone calls. Now, the company is ready to offer you 1 minute at N20. And of course, it continues to get lower and lower. So, there is value there. There is value in many things. Banks charged you to pay before. There is now ATM and other cashless initiatives. So, in so many ways, it is not that bad. The thing is that it could be much better and people and going to be patient. Then, there is the issue of the financial services sector. Even LCCI and OPS generally, have the idea that banks are not doing enough to fund business. The banks are not the only private sector. There is equity, there is venture capital, and there is the bank and others. Once the environment is right, money will find its way. Capital finds its way even into a grave if there are opportunities there. And, the opportunities are there but the constraints and the problems that arise from all of these are getting huge. So, basically what we are trying to do is to ensure that things get better. So, we have to have this debate and this discussion. What I was trying to ask is the contribution of the banks. You know definitely banks will always want to look at their risks and it appears they are not contributing their quota to the system They are contributing their quota. They have just taken a major hair cut with the AMCON activities are all that. So, the banks are the phase of growth, phase of sanitisation and phase of consolidation. They have gone through growth, they have gone through sanitisation when some banks were closed, and then, consolidation and that lays the foundation for the next level of growth. It is not like a switch that you just put on and off. The banks have to absorb all these. They need a cushion. They would need all their capital to absorb all of these things and now they are using whatever is left to now build the next level of growth. What is your comment about the recent action by the CBN which released a blacklist of debtors to AMCON? What the CBN said is that, if you make loans available to the people on the list, you should make full provision. It is like if you go to the United State, if your credit worthiness is removed because you have defrauded, no credit card company can issue a credit card to you again. You have to clean up the obligations. Though, it is not unusual, American Airline and Delta Air Lines went into bankruptcy and such protection was required and they came back, restructured, and made their operations viable businesses again. It is an enforcement of the bankruptcy law which has always been in existence Nigeria. But enforcing the bankruptcy law is a better way of addressing the issue than just publishing the names of those affected.

National Mirror www.nationalmirroronline.net

NIGERIA @ 52

Monday, October 1, 2012

Chief John Odigie-Oyegun was the first elected executive governor of Edo State after the state was created from the old Bendel State in 1991. To mark Nigeria’s 52nd Independence Anniversary, the former vice-presidential candidate of the All Nigeria Peoples Party (ANPP) and onetime federal Permanent Secretary, in this interview with SEBASTINE EBHUOMHAN, said that Nigeria is yet to fulfil the dreams of nationhood. Excerpts: Today, Nigeria would have attained 52 years as an independent nation. In your view, is there something to celebrate? There is always something to celebrate. We have survived 52 years of nationhood. That alone is a landmark event. We fought a civil war and survived relatively more or less, but happily as one nation today. Most of the scars are disappearing. That is worth celebrating. Yes, the country has moved forward; no question about that. Some of the highways we have today, even as bad as they are, did not exist at independence. Some of the facilities we have today were non-existent at independence. But therein, probably, ends the reasons to celebrate. If by your question you mean: are we where we should be? Have we attained the promise Nigeria holds for the black race or even the Nigerian people? Have we fulfilled our destiny as the largest black nation on the face of God’s creation? Then the answer of course will be no. If I go further and say, are we even on the way? The answer again will be qualified no. In the marginal areas, we have moved forward but in the basic issues of nationhood, we have not managed to grapple with and make progress. The basic issues of ethics and common morality, we have not been able to grapple with and standardise and make progress on. These are the issues that still haunt us as a people; they are the challenges that we still face as a people. They are the issues that will decide whether we will become a great nation or just another nation that is managing to keep going day-by-day or whether we will degenerate to become a failed state. All these issues we must tackle head-on and overcome, before we must reasonably embark on the road of sustained progress. Sustain means that you are incrementally improving the lot of the people. Not these financial figures that derive basically from an economy fuelled by oil and the rest of it, but truly sustained development which should become selfgenerating; which will be able to grow on its own; private sector-energised development. That is when we will get to the take-off stage when Nigeria can now grow, irrespective of even government. We have just not reach that stage. What are really the major issues challenging Nigeria’s development? It is easier to count what is right than what is wrong. The major issues are very clear. As a people, we have not even emphasised the issues that unite us. We have not even decided the building blocks that we want to use for the national foundation. The national foundation is still creaky. The constitution is still very largely disputed by most sectors of the nation, irrespective of geography. What kind of federation are we going to have? What kind of federating units are we going to have? What kind of distribution of powers are we going to have? What kind of even local governments are we going to have? Are we going to continue with the presidential system which is proving so costly, expensive and disenfranchising the best people in the nation because they can no longer afford to be part of the system or are we going to go back to the parliamentary system? These are some of the major issues that we need to sit down and start discussing. This discussion may take years. It is not as if it is something that we sit down in three months time and have all worked it out. I wish it is that easy. Are we a federation or are we not? If we are, what type of federation? Are we going to become parliamentary or are we going to continue with this increasingly expensive presidential system? Even the American people are crying

Politics

We’ve always had reluctant presidents, leaders – Oyegun

Oyegun

WE HAVE NOT BEEN LUCKY IN TERMS OF LEADERSHIP AT THE CENTRE, RIGHT FROM

INDEPENDENCE... WE HAVE ALWAYS HAD RELUCTANT

PRESIDENTS, RELUCTANT LEADERS about the costs of a presidential system, about the costs to the candidate, who wants to be president. Fortunately in America, except for this election for obvious reasons, Obama was able to garner some support from ordinary Americans: $5, $2, $10, $20 etc. But it is not the same in Nigeria. It is totally different. So, is that system right for us? So, there are all these basic issues. Move away from that, you have the common decency, common ethics of the nation. Do we still know the difference between right and wrong? Why are we where we are? Why has corruption become such a consuming passion, that our national greed now knows no limit, that people are now stealing in billions? In those days when people get five per cent or 10 per cent, we all scream. Today, if they leave us 10 per cent, we have cause to celebrate. So, what kind of country are we? Without sorting out those issues, we are not going anywhere. We are not even at the starting block yet because the fundamental existence of the nation continues to be in question, unless these issues are sorted out. At 52, Nigeria is still facing the challenges of security, power supply, infrastructure, poverty, joblessness, corruption and so on. Where did Nigerian leaders and the people go wrong? Again, you must go back to our basic document, the constitution. Where power resources and everything is heavily concentrated at the centre, and wherefore all the power is concentrated on one man, and where part of that

power is a humongous power of patronage; a patronage that covers the totality of the lifeblood of this country. Take the petroleum industry just for starters, it becomes truly and difficult for one single national leader, given the state of this nation, the political maturity, the political development and the rest of it, to manage effectively, it becomes very difficult. By and large, we have not been lucky in terms of leadership at the centre, right from independence. With the exception of Moshood Abiola, who never became president, and to some extent Olusegun Obasanjo, we have always had reluctant presidents, reluctant leaders. The effect being that we never had a leader, who strained and strove for that position, because he wanted to leave a footprint on the sands of time. We have never at the centre had that kind of leader. So, it becomes a problem because a man like that will be inspirational. Just the sheer character alone will be able to inspire the people to excel themselves. We have never managed to have that kind of leader. The period of Obasanjo, yes, he was a strong character, a strong leader, but he did not manage to reflect the true aspirations of the people. He more or less reflected the aspirations of the power bloc that got him there. A lot more can be said about that. That has been the major failing: leadership at the centre. To people like me, why should we put all our eggs in one basket: that national basket that has never managed to get its act right? It is one of the major reasons we are calling for a second look at the constitution to create serious notes of power depending on what we all agree, so that a people in a federating unit can strive and attain outstanding development strides without having to look at Abuja. Abuja will be there, of course, doing its own thing but the challenge in each of the federating units and resources at their disposal will be such that internally, they can generate substantial development. They can take the initiative and concentrate on areas of interest to them because the interests of different parts of the country in terms of development are not exactly the same; and the pace that they are willing to go is not exactly the same. So, this is the kind of federation that one is looking forward to; the one that does not concentrate all powers at the centre to the detriment of the federating units. So, we are losing on all counts, except for a few states now with the little extra oil revenues, which are able to make a little dent here and there. The South-West states through sheer initiatives are able to put together some meaningful pace of development. There is this great big umbrella over everybody that is sort of stifling local initiative. When we had regions, the bare fact that we had an Obafemi Awolowo in the South-West, who started a bank, started a university, started a Western Nigeria Development Corporation, started the housing estates in Bodija, Oba Akran, Ilupeju and all over the place, established the first television station in Africa, far ahead of some European countries, which became the main things that challenged other regions and led to some degree of healthy competition and growth. A lot of those things still stand today as monuments to that period. That is the kind of thing we should seek. I am not saying we should go back to three, four regions. We should seek healthy competition with good resource backing. Then derivation was 50 per cent and that made it possible for those achievements to be obtained. So, what is your advice to the President? I will just tell him that time is not on his side and he should just sit up and get the job done. And when I say: get it done; listen to the people to know what they want. They don’t want this level of corruption. They want their roads. They want the other infrastructure that we need to take off. They want electricity. They want some serious moves to tame the level of insecurity in the nation. So, Mr. President, sit up, get it done, time is not on our side.

Entertainment

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

In 1960, Ibadan Orlando and wife, Latoya

of music not Lagos I was with Eddie Okonta’s band and we performed at Paradise Club; not just our band but lots of bands performed. I was doing music and visual arts too; I was commissioned to paint the Nigerian coat of arms for various institutions in Ibadan that wanted to display it in their offices or public places. It made the 1960 celebration great for me because I was not just making money from music, I was also making money from art.

Orlando on stage

Described by music pundits as the last of Nigeria’s titans in the highlife music genre, Orlando Julius Aremu Ekemode has packed 51 years of active music career under his belt. His flashback to the 1960s Nigerian music era reveals the far-reaching impact of a vibrant and artistically–inclined society. The springy musician shared even more compelling insights in an exclusive interview with ADENRELE NIYI last Saturday at his 69th birthday. Excerpts: From the perspective of a 17-year old at the time Nigeria gained her independence, can you recollect your emotions and the experience at that time? Well, that particular time of our life was great for me; I was already playing in a band. I was in Ibadan when Nigeria gained independence but I had been in the city since 1957 because of my passion for music. What I really wanted to do was music but it was not easy to play music and earn money. So I was working in bakery and at night I would go out to play music because by that time, Ibadan was the mega-centre of music as a result of things Chief Obafemi Awolowo (the Premier of Western Nigeria from October 1, 1954 to October 1, 1960) did. First, it started with free edu-

cation which helped a lot of Nigerians. Then he brought the first TV station in Africa, Western Nigeria TV (WNTV), to Ibadan; he built the Liberty Stadium in Ibadan, the first big stadium in Africa and Cocoa House, Ibadan, the first skyscraper in Africa. Those things were great and people come from Lagos and other parts of the country to be part of the change. Ibadan was the centre of music not Lagos. All the big names in music were in Ibadan and the ones in Lagos were coming to Ibadan. Was there a special performance on that day? Yes, there were many big performances in Ibadan; the mood was great.

What kind of picture did the Independence give you about your future as an artist? I know my talent is God-given and I was happy to use it in a way that would please Him. I had already studied music made possible through Awolowo. As the Premier of Western Region he didn’t have that chance of putting music in school and our Prime Minister didn’t do much about music in school too. Awolowo had a meeting with his political party the Action Group and they decided to contribute some money to buy musical instruments enough to set up about 30 bands. The instruments were put in AG’s headquarters in Oke Ado in Ibadan. The place was like a stadium; very big. Whether you were from Akwa Ibom or Calabar, Sapele, Kaduna, Sokoto or even Cameroon, you were welcomed there to learn how to play music for free! No money paid. and that was

great because by the time we entered 1960, the celebration was great already been cooking we’d already been playing. That was how we learnt how to play musical instruments like the saxophone, guitar, and drum set. Many of my colleagues and friends that we all received this training together are playing in some of the big bands we know today. Your generation of musicians had the opportunity to study music for free and 52 years down the line we still do not have a College or School of Music in Nigeria. Do you think the government has failed in that area? It is sad; yes they have failed. In Nigeria, it is only private schools that have music in their curriculum and kids in such schools are from rich homes. For some of those kids whose parent let them take music in school, the parents aren’t really thinking of allowing them to become musicians but just to have the knowledge of music. In Ghana, Kwame Nkrumah (President from 1951 to 1966), a very close friend of Obafemi Awolowo, made sure music was compulsory in all schools; both public and private. Some budding musicians were even given scholarships to go study music in the UK and US. By that period of our independence, Ghana had so many successful bands. It is really sad that we have to go through what we are going through

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

Entertainment

A dated picture of Orlando (on the sax) and performing with The Modern Aces

was the centre –Orlando I’M NOT BEING PREJUDICED, BUT OUR CHILDREN ARE COPYING HIP-HOP AND IT IS

SHOWING MORE OF

AMERICAN CULTURE THAN AFRICAN in Nigeria. A veteran musician once said said that musicians were viewed as school dropouts who weren’t given much respect. Did you face that kind of stereotyping at home or publicly? Yes, they were a lot of people that looked at musicians that time as unserious people. But everybody cannot be lawyers or doctors and by the time you were being played on radio, people began to love and follow your music. We took our job serious and we could be found entertaining at engagements, in the universities. I even played at Awolowo’s birthday in the 70s. I also played for Chief Rotimi Williams during his 25th wedding anniversary. Sometimes, the Nigeria Broadcasting Corporation (NBC) played my music on radio early in the morning and people woke up to the melody of our songs. Our music was such that both young and

old could embrace; what we sing about makes sense. We talk morals –to be honest, do good and work hard. We don’t talk about girlfriends and partying as our kids do now in their love songs. But such songs were around then. Yes, but it was a different kind of love song to what we have now. Love songs of those days were mature, serious and respective of the women. My composition **iwo ololufe mi ye jowo ma ko mi si le** (my lover, please do not forsake me) is different in meaning from a lyrics of “I want to sleep (have sex) with you” whic we have these days. By that time we write songs of morals like; mu ra si ise ore mi (work diligently my friend) or e ma se ika mo, e je ka se rere (stop your evil deeds; do good deeds instead), when people hear, they learn. In your 27-year sojourn abroad, what was the central message of your music and how did you project this country’s image? I left Nigeria in 1974 but before then, while playing in local clubs I was able to meet James Brown and many musicians who came to Nigeria on playing visits. Some of them jammed with our band and afterwards, we exchanged addresses. They wrote me and I’ll write them too. They were interested in seeing us perform in their country and so invitations came. Before ‘74 I visited Germany, U.K and U.S and some record companies, promoters and booking agencies to show my work. I finally left Nigeria for America because of the volume of invitations I was receiving to record. Foreigners don’t understand my language but when they hear the music and the translation of what it means in English it gives them a good thing to feeling about African music. My kind of music and composition helped me move ahead. I played at big festivals in America with big names. I met Hugh Masekela (legendary South Africa trumpeter, singer) and we did a studio

Orlando performing with Afro-soul music diva, Yinka Davies

album about Africa together where I put my song Asiko. When people heard those songs, they thought about places mentioned and wished to go there. So it was not just about Nigeria, it was an African message you were putting out there? Yes. As a black man from Africa, it is a new environment. Theirs is a community of White people and African Americans, but they were all very happy to see us and hear us play. Both the blacks and whites have their culture even though they are in the same country. But I was able to share our culture with them through my songs. In fact, that was how I found my wife. Would you say your music truly represent the African culture? Well, I’m not been prejudiced, but our children are copying hip hop and it is showing more of American culture than African. That makes it hard for Nigerian artistes to move higher than where we, the older generation, are because of what they are singing. We do things differently; our music is live recording but the younger generation’s music is studio sequence; not live. Live music is the real thing in big countries all over the world. Also, old people who are used to our kind of music cherish it; they still want to hear us. It is not prejudice towards the young ones. But it would help Nigeria if we do our thing our way. Sometimes you can copy a little but make sure that your down beat and foundation is your own; indigenous. What have you learnt from your wife, Latoya in terms of cultural integration? One thing I see about her and other Americans is their rich educational background. In America, music is compulsory in schools and they learn instruments too. By the time I met her, she had been trained in music, dancing and she was a teacher. I met her through one of Nigeria’s great music ambassador, Ambrose

Campbell. I went to Ambrose’s house in Hollywood in 1977 (shortly after my band released the popular song Going Back to My Roots and it was where I met her Latoya for the first time. Later, I came to Nigeria and returned to the U.S. Seven years down the line, we met again when my band in California was looking for a dancer/singer to join us. A friend of mine who was with us at Ambrose’s house remembered Latoya was a singer and dancer; he got me her number. We spoke on the phone and she was interested in the opening. That was how she took a plane to San Francisco to meet the band; and the rest is history.

FACT FILE •

Orlando Julius Ekemode hails from Ekiti State

•

He was the captain of his primary school band and learnt how to play the flute during that time.

•

His father’s death put Orlando out of school at a young age

•

After four years with Eddie Okonta’s band, Orlando formed his band, ‘The Modern Aces’ in 1962 at the age of 19.

•

One of his most popular tracks Ololufe was released in 1985 to rave reviews.

•

He is married to Latoya Aduke Ekemode (52) a vocalist and dancer in her own right

•

Orlando and Latoya live in their home at Mowe, Ogun State

•

His newest project is the Afro-HiLive performance series recorded in Lagos last Saturday and would be showing on terrestrial and satellite TV stations.

•

At 69, he still drives long distances and remains fit in spite of demanding music engagements.

Politics

OKAY OSUJI AND LEONARD OKACHIE

he Nigerian media industry is the most vibrant in Africa. Irrespective of its chequered evolution, it has been a leading light in the country’s democratisation process, fighting the unwanton ways of the political class that is in the habit of marginalising the people. The media was immensely active in the struggle for democracy and expansion of the public sphere in and has been a veritable platform for the dissemination of information, education of the citizenry, especially with a view to setting the national agenda. The evolution of the press dates back colonial Nigeria and throughout its history. However, the harbinger of modern Nigeria media is traceable to the evangelical church project of 1847 in Calabar by the missionary, Hope Wadell, who introduced the first printing press in the Southern Protectorate. And on December 3, 1859, a Christian Missionary, Revd.Henry Townsend, established the first newspaper in Nigeria called “Iwe Iroyin fun awon Egba ati Yoruba” meaning “A Newspaper for the Egba and Yoruba Nations.” That experience later gave rise to emergence of The Lagos Times in 1880, and was edited by Andrew Thomas. Two year later, in 1882, The Lagos Observer edited by Blackwell Benjamin, was established. In 1887, The Mirror, published by Adolphous Mark hit the news stand. Later, they were followed by the indigenous efforts of then budding journalists’ nationalists who employed the platform to ignite nationalistic sentiments and consciousness that culminated in struggle for decolonization. The first of this indigenous publication was The Nigerian Chronicle, which was set up by Johnson Brothers in 1908. Kukoyi Ajasa inaugurated The Nigerian Pioneer and subsequently in 1926, the Nigerian Printing and Publishing Company published the Daily Times, with the first editor as Ernest Ikoli. By 1937, The West African Pilot was established by Dr. Nnamdi Azikiwe, among others that followed later.

Daily Times of Nigeria Incorporated on June 6, 1925 by Richard Barrow, Adeyemo Alakija and others, it was first printed on June 1, 1926 and became one of the most the most successful indigenous owned businesses in Africa. Ernest Ikoli was the first editor while Adeyemo Alakija, was Chairman of the Board. The Daily Times was to later become a popular voice of the nationalist movement.

West African Pilot The West African Pilot newspaper which was dedicated to fighting for independence from British colonial rule was launched in 1937 by Dr. Nnamdi Azikiwe. With the motto, “Show the light and the people will follow the way”, the paper was edited by Azikiwe from 1937 to 1947. The West African Pilot evolved into a chain of publications with different names in different cities, owned by “Zik’s Press Limited”. Titles included the Eastern Nigerian Guardian launched in 1940, in Port Harcourt, the Nigerian Spokesman in Onitsha, 1943, and the Southern Defender in

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Changing phases of Warri. In the 1940s, Anthony Enahoro, became the Associate Editor and Abdul Karim Disu an Associate Editor in 1955.

Nigerian Tribune The Nigerian Tribune newspaper was established in 1949, by Chief Obafemi Awolowo in Ibadan and is the oldest surviving private Nigerian newspaper till today. The newspaper served as the mouthpiece for Awolowo’s populist welfare programmes during the colonial era and also played an important role in defending the interests of the Yoruba people in a period when different ethnic groups were struggling for ascendancy.

New Nigerian Newspaper The New Nigerian Newspaper Limited, which had its initial name as Northern Nigerian Newspapers Limited, was established on October 23, 1964, by then government of the Northern Nigeria. It changed its name during the state creation exercise of 1967 to New Nigerian Newspapers Limited. The era not only saw the emergence of many publications, it also gave birth to articulated and vibrant journalists who used the institution to fight colonialism and herald Nigerian Independence in 1960. For many of the journalists, the media became the major vehicle to wage the anti-colonial struggle. In that league were Herbert Macaulay, Nnamdi Azikiwe, Ernest Ikoli, Obafemi Awolowo, Anthony Enahoro, Dutse Mohammed Ali, Mokwugo Okoye to name a few, who were both publishers, journalists, commentators or editors Interestingly, the Nigerian press moved beyond publication of newspapers to the era of electronic broadcasting in 1932, when the radio was introduced as a relay of the British Empire service, following the establishment of a Relay Station on Victoria Island. It was called Radiofusion and was later succeeded by Radio Nigeria, established through Nigerian Broadcasting Corporation (NBC), incorporated and operated under Nigerian Broadcasting Corporation Ordinance of 1956. It was later spread in the three regions with headquarters in Lagos. After Independence in 1960, the media space become more competitive bringing with many newspapers and magazines including and electronics such as WNTV, WNRC and NBC ,the later becoming the Nigerian Television Authority (NTA). Moreover, the Federal Radio Corporation of Nigeria (FRCN) was born with many of its stations spread across the country including others owned by regional govern-

ments. The attainment of Independence coincided with the reshaping of the press in the sense that, most newspaper proprietors were politicians who saw it as an instrument for political advancement. And as a matter of fact, the conflict of interest and internecine nature of political contests appeared to have prepared the ground for military intervention in 1966. The intervention of the military government of General Aguiyi- Ironsi in 1966, laid the foundation for oppressing the press. General Yakubu Gowon, who succeeded Aguiyi-Ironsi, promulgated the

MEDIA FREEDOM IS A FUNDAMENTAL POLITICAL FREEDOM, BASED ON THE RIGHT TO FREE SPEECH. THE MEDIA SETS THE STAGE FOR PUBLIC DISCUSSION, AND UNDERTAKES TO BE A WATCHDOG OF GOVERNMENT ACTION

Emergency Decree of 1966, which made arrest and detention of citizens without warrant lawful. In 1967, the administration proceeded to promulgate another Decree titled ‘the Newspaper Prohibition of Circulation Decree 1967, that empowered the Head of the Federal Military Government to restrict from circulation of any newspaper where he is satisfied that it is detrimental to the interest of the federation or any state thereof, within the federation which may subsist for 12 months. Later, General Muritala Mohammed brought the administration of General Yakubu Gowon to an end on July 29, 1975. But rather than departing from his predecessor’s anti-press stance, the administration further promulgated a Decree on April 8, 1979, titled ‘the Newspaper Public Official Report Decree. As is customary to military regimes, the Junta introduced series of draconian Decrees to curtail the press. The Public Offi-

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

Politics

NIGERIA @ 52

Nigerian media

(10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21)

P.M News The Punch The Sun Tell Magazine The Source Magazine This Day Tribune Daily Trust The Pilot The Moment National Daily Vanguard

Current television and radio stations (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

African Independent Television (AIT) Channels TV Gateway TV Nigerian Television Authority (NTA) Silverbird TV MITV TV Continental Radio Nigeria Aso Radio Voice of Nigeria (VON) Brilla FM(Lagos) Cool FM (Lagos) Rhythm 93.7 FM (Lagos) Unity Radio WAZOBIA FM (Lagos) Radi inspiration (Lagos) Eko 107.5 FM (Lagos)

Challenges of the media

www.nationalmirroronline.net

cers (Protection against False Accusation) Decree 1984 otherwise known as a Decree No.4, was promulgated. The Guardian Newspaper was the first to fall victim, as a result of which two journalists, Messrs Nduka Irabor and TundeThompson, were jailed and the paper ordered to pay N50, 000 as fine. The regime of General Buhari was brought to an end on August 27, 1985 by General Ibrahim Babangida. That administration repealed Decree No 2 of 1984 and re-introduced another one titled the ‘State Security (Detention of Persons) Decree 2, 1984, which was used to ruthlessly intimidate the media. The regime proscribed Section 1 (3) Public Officers (Protection against False Accusation) Decree 1984. Also the administration promulgated the Nigerian Press Council Decree No. 85 of 1992, which established the Nigerian Press Council (NPC) to deal with complaints by members of the public against the conduct of journalists in their professional capacity. On April 9, 1992, it promulgated Decree No 14, 1992, as well as restricting the intervention of the court in respect of any act done in compliance with the Decree. It was later repealed on May 11, 1992 with another Decree titled, the ‘Concord Group

of Newspapers Publication’ (Proscription and Prohibition from circulation) No 17 of 1992, which proscribed the publication and circulation of the publication. It is interesting that despite all these, the worst and turbulent experience experienced in the media history was under the regime of General Sanni Abacha from 1994 to 1998. The sudden death of Abacha brought his government to an end and the coming into office of General Abdulsalam Abubakar. That administration amended the Nigerian Press Council Decree, No. 85, of 1992 some few days to the end of tenure. The Decree titled the Nigerian Press Council (Amendment) Decree No. 60 of 1999 empowered the Council to be incharge of registration of journalists, newspapers and magazines annually, which also provides for the imposition of sanctions on proprietors and publishers that fail to register in accordance with provisions of the Decree. It also provided for a Code of Conduct of the Nigerian Union of Journalists, to guide the press and journalists in the performance of their duties, and empower the Council to require the NUJ to provide the Code of Professional and Ethical Conduct, which shall be subject to the approval of the Council. It implied that the Council

would no longer adopt the existing Code of Conduct for journalists but only the Code of Professional and Ethical Conduct approved by it will be recognized. But the indelible footprint of the regime was the keeping to promise of returning the country back to civil rule on May 1, 1999. Rather than making a clean departure from humiliating the press, President Olusegun Obasanjo intensified it. Unfortunately, the government allowed some laws that constitute threat to freedom of press to remain in existence. Because of this, the Media Rights Agenda in 2000, constituted a committee to recommend for a review of the Nigeria Press Council Act which gave birth to the ‘Nigerian Press and Practice of Journalism Council Bill 2009’, which was presented to the National Assembly for consideration into law, in response to people’s demand for a free press. In furtherance to this, a Bill titled ‘Freedom of Information (FOI) Bill’ was introduced in the House of Representative in 2003 as a private member Bill. The Bill was later passed into law in 2011.

Survivors of pre-independence titles Incidentally, only the Nigerian Tribune remains in existence from among the preIndependence publications, as its compatriots and peers have been rested for different reasons that have to do with poor operating environment.

Current publications (1) (2) (3) (4) (5) (6) (7) (8) (9)

Business Day Business Hallmark Champion Newspapers Compass The Guardian Daily Independent Leadership National Mirror The Nation

The relevance of the media in democracy is undisputed. Media freedom is a fundamental political freedom, based on the right to free speech. The media sets the stage for public discussion, and undertakes to be a watchdog of government action. But media freedom is a fragile good, and journalists are particularly exposed to threats. They operate at the frontlines of a battle for political power that is often waged with deadly weapons. Censorship, harassment and imprisonment of journalists and political control of news outlets are some of the most often cited dangers to a free media. With a low literacy level, communication among Nigeria of various ethnic groups poses a problem of misunderstanding and since the English language is the official medium of communication, the country has been hard pressed to teach everyone. Sadly, mass media development has been painfully slow and the very few existing ones are continuously catering to the interest of the elite who are a minority. Mass media in Nigeria should be viewed from the perspective of the citizenry while press freedom must not be isolated from the reality of pervasive poverty and illiteracy which breeds ignorance.

Prospects The media had been accused of sycophancy, especially giving too much air time to the government and ruling party, being partisan, insensitive in reportage of ethnoreligious crises, sensationalism, weak operational disposition, and lack of follow on running stories, elitism and urban bias to the detriment of rural based citizens. Experts posit that, the media have prospects if they could evolve new strategies, halt external influence, embrace ethical values, adopt comprehensive societal campaigns, and institute robust investigative journalism while taking full advantage of the Freedom of Information Act.

Law & Justice

KAYODE KETEFE

he history of Nigerian judiciary from independence right to date can at best be described as an epitome of mixed fortunes. The third estate of the realm has transited through the thick and thin in pursuit of its avowed responsibilities as the bastion of hope; the succour for the downtrodden and the vanguard of social justice posting varied results all along the way. The judiciary, a legacy of the colonial government ensconced in the tradition of common law, had its umbilical cord severed from England after independence, taking off with a dream vision of being an excellent and exemplary institution for the rest of Africa. However, within the past 52 years of Nigeria’s independence, the quest for the nation’s judiciary to build and sustain a reputation of a hallowed, uncorrupted and highly professional institution has been dogged with numerous challenges spawning a chequered progress. By and large, there seems to be as many instances of courageous decisions as there are dubious and apparently corrupt ones over the years. If this inconsistency on the issue of integrity had made a lot of Nigerians to be sceptical about the third arm of government, certain developments in the judiciary itself, in the past one year, has put the putative sacred organ at its lowest ebb ever – meaning that it would have a lot to do to rebuild its image. Nigeria is fortunate to have many brilliant jurists and lawyers of the highest professional breed who could stand shoulders to shoulders with their counterparts anywhere in the world right from the independence era to this very day – a fact which has helped the judiciary posted many courageous and soul-inspiring judgements. Just a few examples of these would suffice. It was the Nigerian judiciary that declared the first military coup in Nigeria illegal. That was in the case of Lakanmi V. Attorney-General, Western Region (1970) 6 N. S. C. C. 143) where, the Supreme Court of Nigeria held that the 1966 coup d’etat was not a revolution but an illegal hijack of power. This decision so infuriated the then Federal Military Government, headed by General Yakubu Gowon, that it immediately promulgated a decree which ousted the jurisdiction of the court to inquire into legality of military decrees. It is the same judiciary that produced the likes of a tigress on the bench, Justice Dolapo Akinsanya, who courageously declared the Interim National Government, headed by Chief Ernest Shonekan, illegal. Even in this present democratic dispensation, laudable judgements have emanated from the temple of justice; these included the judgement of the Supreme Court in the case between Lagos State and the Federal Government on the former local government funds; the quashing of impeachment of Senator Rashidi Ladoja as the governor of Oyo State, as well as the installation of Governor Peter Obi of Anambra in office, among others. Furthermore, when the Independent National Electoral Commission refused to register some political parties prior to 2003 general election, the Supreme Court, in a lead judgement by the former CJN, Justice Dahiru Musdapher, on July 26, 2002, gave judgement in support of the excluded parties. In the midst of all these, there has always been some dark cloud of politicisation, corruption, inefficiency and palpable miscarriage of justice hanging over the judiciary firmament. There have been cases of judges being removed from office on proven charges of corruption. The ready example is that of Justice Wilson Samuel Egbo-Egbo of the Federal High Court, Abuja Division, who was removed by the National Judicial Council on account of an infamous ex parte injunction he granted which purportedly, barred the then Governor of Enugu State, Mr. Chris Ngige, from parading himself as governor. Many lawyers have been derobed for unethical conducts. Matter came to such a sorry state that during the case of Ibori, two lawyers (names withheld) stood right in the hallowed chambers of the Supreme Court, and gave

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Judiciary still BUT THERE ARE RECENT INCIDENTS WHICH, BY FAR, TARNISHED, ALMOST INDELIBLY,

THE IMAGE OF THE JUDICIARY IN THE MINDS OF NIGERIANS

the former Chief Justice of Nigeria, Justice Muhamadu Uwais, a shock of his life when they accused him and his panel of corruption in the open court, during one of the sessions in James Ibori’s case. The lawyers who levelled the audacious accusations inevitably had to face the Legal Practitioners Disciplinary Committee and were eventually derobed. Since then, countless number of allegations has been flying in the air which put a lot of question marks on the integrity of the judiciary. These included the allegations in recent times that some senior lawyers/ judges were sent as emissaries by the politicians to compromise their felJonathan low judicial officers. Also, just before the last general polls, the Chairman of the Independent National Electoral Commission, Prof. Attahiru Jega, wrote a petition to the then CJN, Justice Dahiru Musdapher, and copied President Goodluck Jonathan. The essence of the letter is that that numerous “frivolous” ex parte orders were being slammed on INEC by the courts, which had the potential of derailing the free conduct of the elections. But there are recent incidents which, by far, tarnished, almost indelibly, the image of the judiciary in the minds of Nigerians. The first is the now famous unusual face-off between the former heads of the topmost courts in Nigeria, the former President of the Court of Appeal, Justice Ayo Isa Salami and the former Chief Justice of Nigeria. Justice Iyorgher Katsina-Alu, which led to the suspension of the former by President Goodluck Jonathan on the recommendation of the National Judicial Council (NJC). While the role played by the NJC in the entire saga has been severely criticised by informed stakeholders like prominent lawyers, the fact that the NJC later “repented” and recommended that Justice Salami should be reinstated and that President Jonathan has not heeded the advice till now, lends credence to the theory of political interfer- AGF, Mohammed Bello-Adoke ence in the judiciary affairs. ties in the court poorly trained and unmotivated judiciary The second incident is the recent conviction and sen- support staff, unscrupulous and unethical practices by tence of the former governor of Delta State, Mr. James lawyers, problems of archaic laws that no longer reflect Ibori, to 13 years term of imprisonment by a London court modern realities etc. after he pleaded guilty to money laundering charges. The Other challenges include non-passage of justice secpresiding judge, Justice Anthony Pitts, who was full of tor bills into laws by the National Assembly. The bills redeprecatory epithets for Ibori, stressed that the embattled ferred to here are tagged “justice sector” because of their former governor would have got up to 24 years imprison- provisions which directly or indirectly relate to justice ment if he had contested the case rather than pleading dispensation. They are concerned with not just the juguilty. diciary, lawyers, and justice ministries alone but also all This is a man who had run the entire gamut of the court agencies and institutions involved in the larger justice dissystem in Nigeria even up to the Supreme Court and had pensation procedures, like the police, prosecutors, prisons not been convicted but adjudged innocent! system, human rights bodies, non-state actors and civil The two incidents of CJN/Salami saga and the Ibori’s society organisations that engaged in the administration “freed at home jailed abroad” paradox did more than all of justice. As of today, most of these bills are still pending other unsavoury/ unpalatable incidents over the years, in with only a handful passed into law. Those that have been lowering, (if not rubbishing) the nation’s judiciary in the passed into law include; Legal Aid Council (Amendment) minds of average Nigerians. Bill, National Human Rights Commission Act (AmendApart from all the problems of corruption/politicisa- ment) Bill and Evidence Act (Amendment Bill). The justion of the judiciary, there are many other problems rock- tice sector bills that are yet to become laws today include ing the administration of justice in general all, of which Criminal Justice Administration Bill – which is meant to have proven intractable till now. These include the lack harmonise and consolidate the criminal procedure laws, of adequate logistics, forensic and other facilities by the reduce delays and provide for more humane treatment police and other law enforcement agents in combating of suspects; Administration of Justice Commission Bill; crimes, use of holden charge by the police, prison con- which is meant to ensure effective supervision and coordigestion, inadequate manpower in almost all sectors, pro- nation of the administration of justice by all the relevant longed delay in determination of all cases, in both civil organs: Community Service Bill, to encourage the award adjudication and criminal prosecution, inadequate facili- of non-custodial sentences under the criminal justice sys-

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

in transition

Iyorgher Katsina-Alu

Prof. Maurice Iwu

I WOULD ALSO RECOMMEND THE ESTABLISHMENT OF THE

JUDICIARY PERFORMANCE MONITORING COMMITTEE

TO MONITOR AND ASSESS THE PERFORMANCE OF JUDGES tem, particularly in minor offences and offences involving young person; Victims of Crime Remedies Bill, to improve respect for the rights of victims of crime in the criminal justice system: Elimination of Violence in Society Bill, to control violence in society, especially violence directed at vulnerable groups like women and children, etc. National Mirror sought the views of some top lawyers in Nigeria on the problems facing the judiciary and the way forward. These seasoned lawyers, whose views covered different aspects of how to move the judiciary forward, are all unanimous that the battle for a better judiciary could be won if stakeholders make concerted efforts to produce the needed reforms. A Lagos-based Senior Advocate of Nigeria, Chief GaniAdetola Kazeem, made a number of observations with accompanying recommendations to move the judiciary forward.

He said: “The problem of prolonged and undue delay in administration of justice has to do with the procedure, but more importantly, it has to do with the parties. This is one area in which the profession has to be up and doing. Resolution of cases is a tripartite thing, the claimant, defendant, and the court itself. You find out that most times, a party or a counsel who has a weak case trying all kinds of subterfuge to frustrate the ends of justice. “We have cases where the defendant knows that he has no defence, instead of going for out-of-court settlement, he would still use the judicial procedure to truncate or delay the hearing of the matter. This happens a lot; this is where the court would have to be a lot more pro-active to checkmate the antics of counsel or litigants who, rather than doing their case, would rather employ delay tactics. It would take a courageous and knowledgeable judge to know what adjournment to grant and which not to grant. “There are some applications that could be dealt with off the cuff while ruling is delivered immediately. A lazy or less skilful judge would adjourn such applications for ruling. The skill and knowledge of the judge is also a factor on whether a case would be concluded speedily or not. There is also the need to appoint more judges to handle many of these cases. Furthermore, the mode of recording evidence in most courts is archaic, most court still record evidence by long hands in spite of the availability of the modern technology. Funds also need to be provided for the technology and other things to aid the efficiency of the court. “All these things contribute to the said delay. At the appellate court level, we even have a big bottleneck, in the Court of Appeal (Lagos Division), for instance, there are cases pending for six, seven or eight years before they are disposed of. That is not fair to the litigants. “The same goes for the Supreme Court; right now, at the Supreme Court, there are still cases of 2003/2004, if not earlier. This state of affairs should not continue. By way of reform, it is not all cases that should get to the Supreme Court; there are cases that ought to terminate at the Court of Appeal. There should be effective cases management in our courts.” A similar view was shared by Chief Ladi Williams (SAN), who said: “At present, the workload on the justices of the Supreme Court is too heavy. They hear appeals from the Shariah Court of Appeal, High Courts, Federal High Court, all the way to the Supreme Court. I will suggest the following: that the jurisdiction of the Supreme Court be limited to hearing of cases that pertains to constitutional law, appeals on death penalty and disputes between states or between states and the Federal Government. “All commercial cases should terminate at the Court of Appeal, ditto for determination of land cases and also for crimes which do not attract death penalty. This will shorten the time it takes the Supreme Court to hear hundreds of appeal cases pending before it.” Another SAN, Mr. Yemi Okulaja advocated reforming of the NJC as part of the way forward. He said: “In respect of the NJC, you will see that most of the people were appointed by the CJN. For instance, if the council is made up of about 50 members, about 10 of them were appointees of the CJN and any position taken by the CJN, these people would follow since their loyalty were to the CJN as a person rather than to the rule of law. “The NJC should be reformed in such a way that members would not owe allegiance to individuals.” This view was supported by a former Dean of Law, University of Nairobi, Kenya, and Nigeria’s Professor Uche Uko Uche. He said: “Well, I do know that all power corrupts and absolute power corrupts absolutely. “There has to be a shedding out of power, so that you can have checks and balances. Because, even if you put an angel there, he could make a few mistakes, if he feels he is completely in charge. If you pile up all the powers on the table of the Chief Justice, you make it more difficult for him to manage the affairs. So, the powers should be di-

Law & Justice

vided into portable areas which will give other people the opportunity of having an input into power.” Chief Chukwuma Ekomaru (SAN), advocated for the creation of special court as part of measures to enhance the administration of justice in the light of present challenges. He said: “I am calling for creation of special courts to handle human rights and corruption cases. Human rights have, more or less, become a privilege in Nigeria, not everybody in Nigeria could afford to pursue his rights when trampled upon. “It is a right that is given to us freely by God, but to secure it is expensive. That is why there have been clamour for creation of special courts to handle very special issues such as human rights and corruption cases. This is a measure that would benefit justice administration.” A Professor of Public Law at the Faculty of Law, University of Lagos, Prof. Taiwo Osipitan (SAN), also gave a useful recommendation. He said: “The judiciary is the third arm of government vested with the power to interpret the law and also apply the law. In interpreting the law they would be at loggerhead with the executive and also the legislature. To that extent, judicial officers should not see politicians as their friends. They would use them at the right time and dump them. I suggest that judiciary should continue and intensify effort to maintain dignified distance from politicians. If they are able to do that, they will be able to uphold the independence of the judiciary and be able to do justice to all manner of men. “I feel uncomfortable about the arrangement in some states where judicial officers, including the chief judges are under the armpit of the governor. There is fusion of judiciary and executive in some states and the result is confusion, anarchy, and distrust for the judiciary. People don’t trust the judiciary of some states because of this unholy alliance between the judiciary and the executive. So, it is time for the judiciary to stand up and assert its independence and maintain dignified distance from the executive and legislature, otherwise the image of the judiciary will continue to be smeared by these politicians.” The Head of the Penal Reforms Section of the Civil Liberties Organisation, Mr. Princewill Akpakpan, tasked the 7th National Assembly to address all pending justice sector bills in order to move the country forward. Akpakpan said: “The present members of the National Assembly should consolidate on little gains we have had by the passage of all justice sector bills. They should concentrate on these bills to ensure quick passage on accounts of its implication for the administration of justice. “There are a lot of things wrong with our system, issues like delay in conclusion of cases, congestions of prisons which are dilapidated structures, inadequate funding of the prison system, deplorable conditions of the inmates, keeping of the inmates for inordinate length of times before trial etc. are all sore points of our system which some of these laws are set to tackle. The legislators should forget personal issues of estacode and concerns for money and other personal aggrandizement. They should sit down to do what they are elected to do and pass these bills. They should not let the country down.” A Lagos-based lawyer and lecturer at the Department of International Law and Jurisprudence, Faculty of Law, University of Lagos, Mr. Wahab ‘Kunle Shittu, said: “One fundamental problem is the undue delay in the administration of justice and that can be addressed through a qualitative reform process that is tailored to address both the systemic failures and the question of integrity. We need to undertake holistic review of the institution and structures that constitute the administration of justice in order to block all loopholes or leakages. “I would also recommend the establishment of the Judiciary Performance Monitoring Committee to monitor and assess the performance of judges, both in terms of their professional commitment and ethical integrity. “We also need to monitor the activities of our lawyers to ensure that those who violate ethics are brought to book. Another way to address the problem is to ensure that only people with proven track record of excellence and integrity are appointed to the bench. The bench should also be adequately remunerated in terms of welfare packages.”

Sport Features

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

From home-based to foreign-based

Green Eagles of the 1980s pose before a game in Lagos

Super Eagles of today have tended to lack the right spackle, except the squad is replete with the foreign-based players who have now appeared to make their home-based counterparts virtually irrelevant in the squad composition; in sharp contrast to the 1980s when the home-based players dominated the team. IKENWA NNABUOGOR examines the current trend to determine when things went wrong

hese days, Nigerian players must first make headlines in the foreign leagues before he can be considered for a spot in the Super Eagles, a trend that has continued to frustrate the efforts of players in the domestic league who have all resigned to venturing abroad to get national team call-ups. Nonetheless, a ray of hope appeared in November last year as former Nigeria international Stephen Keshi took charge of the Eagles. So far, Keshi’s reign has afforded the local players a somewhat free reign. But the expected influx the domestic players into the team still seems far-fetched as the squad has lately taken a turn towards the foreign-based. It was not until the late 1980s with the advancement that football witnessed across the world that foreign-based players started getting chances to play for the then Green Eagles. Prior to that period, players in the local scene serviced the national such that it was easy for the fans to determine who got invited based on what they saw the players display during league games at various stadia across the country. Brazilian and Yugoslavian coach Otto Gloria and ‘Father’ Jelisavic Tiko etched their names

in the history of Nigerian football for their tremendous achievements as the Green Eagles coaches. Both coaches, now late, turned Nigerian football around and put the country on the the map of Africa and the world. When Nigeria finally made impact in the African Nations Cup in 1976, players like Rangers’ strongman Christian Chukwu, Raccah Rovers’ Baba Otu Mohammed, IICC’s Mudashiru Lawal, Stationery Stores’ Haruna Ilerika and Thompson Usiyen shone at the tournament, with Mohammed finishing as second top scorer with three goals. By the time Brazilian Gloria took over, these players had become known stars with sterling performances for their local clubs like IICC, Rangers and Stores. Gloria unleashed the all-conquering Green Eagles side that won the Nations Cup title for the first time on home soil in 1980. The team built around Lawal in the midfield, Segun Odegbami on the right wing, Adokiye Amaesiemaka on the left wing and Chukwu in the heart of defence did not lose a game, scored eight goals and conceded just one, en route to winning the title. The trio of late goalkeeper Best Ogedegbe, Chukwu and Odegbami went on to make

the CAF Team of the tournament. The Green Eagles continued to stamp their authority on the continent with teams largely made of local players as coaches came and left. As the home-based players continued to prove their worth with the national team, they also transformed same to their clubs as they helped clubs like Rangers, IICC, Stores, Leventis and Abiola Babes maintain commendable performances at the continental clubs’ competitions.

AS THE HOME-BASED PLAYERS CONTINUED TO PROVE THEIR WORTH WITH THE NATIONAL TEAM, THEY ALSO

TRANSFORMED SAME TO THEIR CLUBS AS THEY HELPED CLUBS LIKE ERS,

IICC, STORES, LEVENTIS AND ABIOLA BABES

Coach Adegboyega Onigbinde took over in 1983 and was tasked with raising a team to redeem the country’s image at the 1984 African Cup of Nations staged in Cote d’Ivoire after they had failed to retain their title two years earlier in Libya, where they failed to advance to the knock out stages. Onigbinde assembled yet another

Green Eagles filing out before a match in Lagos

RANG-

bunch of world beaters, including Lawal, who later went on to enter the record books as the most capped player with 87 matches. The team with no foreign-based players lost the title to Cameroun in the pulsating final in Abidjan. Keshi had led the exodus of players from the local league when he signed for Belgian side

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

Sport Features

NIGERIA @ 52

WESTERHOF ASSEMBLED HOME PLAYERS FOR THE INAUGURAL

ECOWAS CUP IN JANUARY 1990, THE TOURNAMENT WHICH HE USED

AFRICAN NATIONS CUP HOSTED IN ALGERIA TO PREPARE FOR THE

TWO MONTHS LATER Lokeren FC in 1986 after he defected to Cote d’Ivoire following a one-year ban placed on him due to an alleged unpatriotic act to the national team. An influx of Nigerian players soon followed as Belgium became a Mecca of sorts and provided launch pads to the bigger European leagues. Subsequent Eagles coaches soon began to invite Euro-based players as more Nigerians continued to make their way to Europe. German coach Manfred Hoener was appointed for the Eagles in 1987 and became the first to include at least six foreign-based players in the final squad to the 1988 Nations Cup held in Morocco. Hoener and his wards were beaten finalists as the Eagles lost in the final to bitter rivals, Cameroun, for the second time in four years. By 1990, Nigerian players had started making the headlines for their respective European leagues as more players joined the Euro train. Dutch coach Clemens Westerhof had replaced coach

Paul Hamilton who took over after Hoener was sacked following disastrous outing in the soccer event of the 1988 Seoul Olympics which left Nigeria in a winless streak, and became famous by transforming local league players into some of the most sought after players in Europe. Westerhof assembled home players for the inaugural ECOWAS Cup in January 1990, the tournament which he used to prepare for the African Nations Cup hosted in Algeria two months later. Players like Rangers’ Herbert Anijekwu, Iwuanyanwu Nationale’ s trio of Okechukwu Uche, Isaac Semitoje and Thompson Oliha, Ranchers Bees’ youngsters Daniel Amokachi and Ayo Ogunlana were discovered and eventually named in the final 18-man squad to the finals in Algeria. Only three foreign-players–late Rashidi Yekini, Friday Elahor and Belgium-based defender Andrew Uwe–made the list. Westerhof and his wards surprised

Okechukwu Uche, Emmannuel Amuneke and Daniel Amokachi

Finidi George

Late Muda Lawal

Late Rashidi Yekini

themselves by reaching the final after a disappointing start which saw them being hammered 5-1 by eventual winners, Algeria, in their opening group game. That incidentally was the last time, home-based players would dominate the final squad list ahead of an important tournament as the number of invited home-based players continued to plummet. Westerhof had succeeded in exposing the hitherto home-based players to top European clubs with the likes of Amokachi, Finidi George, Emmanuel Amuneke, Okechukwu Uche and Ben Iroha, who later grabbed headlines in Europe. These stars’ achievements with the Eagles and clubs would later become benchmarks for prospective players wishing to wear the national colours. This development signalled a death knell for the local league players’ aspirations to play for Super Eagles.

Where could things have gone wrong? Analysts have pointed at the increasing poor standard of the local league, including near empty stands, amongst other factors, as the cause the loss of respect for local league players. “The local league is nothing to write home about, as it is now the opposite of what it used to be in the 1970s and 1980s,” veteran football journalist, Ralph Chiedozie George, told National Mirror. “We had players in the local league blessed with great techniques, who could match any player in the world. But now, there’s an alarming dearth of talent,” George, who is currently a commentator with SuperSport, said. “Besides, why invite players to the Eagles who would be lost in the modern techniques of the game? “It also has to do with the local league players who seem to have

lost confidence in themselves by considering the foreign-based as better players. “The mentality of the players has to change too because they believe that until you start playing abroad, that’s when you get callups to the national team. “The local league had high standard which is a sharp contrasts to what obtains now. Clubs like Rangers, Stores, Shooting Stars, BCC Lions, Abiola Babes and Iwuanyanwu attracted large crowd who trooped into the stadiums to see top stars. “Not any longer now because fans prefer to sit at home to watch the European leagues on TV believing going to stadia which are to an extent unsafe, to watch unknown players, is a waste of time. “Facilities are almost nonexistent making development of home grown talents a bit difficult. So, the foreign-based players have an edge as they are exposed to better facility.” A school of thought also believe that the national team coaches are averse to taking risks, one of the major ingredients required for scouting fresh players, due to pressure to win games to avoid criticisms on the team’s performance. “What we experience these days is what we call “quick fix” where coaches want results not minding if the team is filled with foreign-based players, as long as losses are avoided to stay in job,” sports critic, Shuaibu Gara Gombe, said. “Local league players are also in a hurry to play abroad at any slightest opportunity, no matter if they are running to lower rungs of European football. That explains why some of them end up in India, Cyprus, Bangladesh and so on, with the hope of attracting bigger European clubs and eventually playing for Super Eagles. Many are yet to realise their ambition and have spent so long time overseas to beat a retreat.” Perhaps, what is left at the moment is an official seal on a policy to shut out local league players from the national team. Otherwise the signs of their irrelevance are all evident.

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

News

NIGERIA @ 52

Leaders, followers must work together –Amosun FEMI OYEWESO ABEOKUTA

overnor Ibikunle Amosun of Ogun State has called for a result-oriented synergy between the leaders and followers to move the country forward and overcome all the challenges confronting it. Amosun made the call yesterday while fielding

questions from journalists shortly after the special church service held to commemorate the 52nd anniversary of Nigeria’s independence at the Church of Cathedral, Ake, Abeokuta. The governor, who could not absolve Nigeria’s leaders both past and present of being responsible for the country’s woes at 52, said “the followers

too should be part of the blame. “Yes it is true that leadership has a role to play in the challenges we are facing now. The country ought to grow beyond this level we found ourselves. The type of our leaders will ultimately determine the road to progress, but that notwithstanding, the followers’ angle is also very important and you must

believe that both the leaders and the led have roles to play to ensure steady development and progress, as the two factors cannot be undermined.” Earlier in his message at the church service, the governor called for amicable settlement of the socio-political crises, declaring that neither violence nor religious cataclysms would solve the problem.

Emphasising that no country can progress in an atmosphere of rancour, Amosun said that all the challenges confronting Nigeria would soon be history if all aggrieved parties could explore peaceful means of resolving their grievances. In his anniversary message delivered at the church service, the Bishop of Egba Anglican

Communion Diocese, Rev. Bishop Emmanuel Adekunle, canvassed for the support and understanding of the people of Ogun State towards the physical and infrastructural development of the state. Adekunle corroborated Amosun’s position that the state deserves modernisation and facelift to meet with the global trend.

Be focused, Kumuyi charges leaders OLUFEMI ADEOSUN ABUJA

L-R: Wife of the celebrant, Mrs. Folashade Agbesua; celebrant, Mr. Olusola Isaac Agbesua, receiving the Award of Excellence from the Chairman of the Nigerian Institute of Architects, Lagos State chapter, Mr. Ladipo Lewis, during the celebration of Agbesua as Architect-in-Focus 2012, in Lagos, at the weeked. PHOTO: OLUFEMI AJASA

Nigerians deserve good governance –ActionAid

igerians deserve to begin to feel the impact of governance in a much improved way. ActionAid Nigeria, a Non-Governmental Organisation, NGO, working for the reduction of poverty, said this in a statement issued by its Country Director, Dr. Hussaini Abdu, in commemoration of Nigeria’s 52nd Independence Anniversary. Abdu observed that the country, which had one of the greatest potentials of

becoming a leading economy in the world, was yet to attain the dream many Nigerians had at Independence 52 years ago. He said: “The month of October was the most significant month in the history of the Nigeria nation. The month had for several years signified for many Nigerians the period of celebration of freedom from foreign rule and a rekindling of hope of a virile nation with capacity for taking care of her citizens.

“These potentials are still achievable with focused planning and a propeople agenda.” Nigeria, Abdu said, had enormous resources, human and materials that very few nations had. He said: “Not many nations have such space, blue and green, as Nigeria. Its creeks, waterways, rivers, streams and arable land are such that without mineral resources the country would remain one of the most solvent nations in the world.

Let’s unite, Jumoke Akinjide urges Nigerians OMEIZA AJAYI ABUJA

he Minister of State for the Federal Capital Territory, FCT, Ms. Olajumoke Akinjide, has advised Nigerians to remain united and rise up in support of Federal Government’s transformation agenda. In a statement signed

by her Special Assistant on Media, Oluyinka Akintunde, the minister said: “The last 13 years of unbroken democracy in the country has given Nigerians fresh hope for a more flourishing and prosperous future. The transformation agenda of the present administration is on the right track and would guarantee Nigeria’s

future and prosperity.” Akinjide noted that the government was committed to the transformation agenda which had seen the implementation of new initiatives by the government such as the Subsidy Reinvestment and Empowerment Programme, SURE-P, and Youth Enterprises With Innovation in Nigeria, YOUWIN.

“The nation’s potential to be one of the biggest economies in the world is further enhanced with its large deposits of solid mineral resources, almost all of them at the high commercial quality. The icing on the cake was the discovery of oil which has since the beginning of its exploration thrown up the country as one of the highest income earning nations. And the country has continued to discover more oil deposits in locations within its territory.”

he General Superintendent of the Deeper Life Bible Church, Pastor Williams Kumuyi, has called on Nigerian leaders to remain focused and find solution to the country’s problems. Kumuyi made the call while briefing the press in Abuja on a four-day programme of the church organised as part of its activities to mark the country’s 52nd Independence Anniversary, in Abuja. The pastor also expressed sympathy with the victims of the recent flood disasters which had swept across the country in the last few days. In the light of the present challenges confronting the country, Kumuyi noted that it would take focused leadership to take the country to its promised land. He therefore advised the leaders to take heart and look at the future with the belief that the problems would be solved since it was God that put them in the position of authorities. The pastor also advised the leaders to use all the resources that God has entrusted in their hands to

better the lot of millions of Nigerians languishing in abject poverty. He said: “My message for our leaders is for them to take heart and to look at the future with a mind set of believing, sometimes when problem overwhelms us and we are not able to settle down to look with focus and determination, we might be so shaking that we are wondering whether if there is a future for our country. “To start with, we know that there is God in heaven, we know that God has appointed us whoever we are as leaders to be in this particular place at this point in time so that we look onto God and take heart and make use of all the resources that God has given to us, the manpower, the wisdom, the fortitude and everything to make sure that we map out solution to our problems through wisdom of God. “So my message to our leaders will be to remain focused knowing that this time that God has put them there, we are going to find solution to the problems we have and make sure that the lives of the people are well secured and well provided for.”

Amaechi calls for patience, cooperation for development

overnor Chibuike Rotimi Amaechi of Rivers State has urged residents of the state to exercise patience and cooperate with his administration to facilitate the needed development in the state. Speaking at an inter-denominational church service to mark the country’s 52nd Independence Anniversary at Christ Church

in Port Harcourt, Amaechi said, the progress made by his administration so far was by the grace of God as well as the support and understanding of well meaning Rivers people. The governor disclosed that he had directed the State Executive Council to liaise with the chairman of Port Harcourt City Local Government to allocate to traders, the New Layout

market for their businesses. Amaechi said the government had commenced the deduction of the Social Contributory levy established by law to meet the demands and wellbeing of the people, adding that his administration would give account of how the funds were spent to justify its commitment to transparency and good governance.

News

NIGERIA @ 52

Monday, October 1, 2012

ACF salutes Nigeria at 52, says corruption must go A ZA MSUE KADUNA

he apex northern socio-political organisation, the Arewa Consultative Forum (ACF) yesterday hailed Nigeria at 52 and called on the citizenry to wage war against corruption. The forum said corruption has stolen the opportunities and future of most Nigerians, adding that the menace should be fought by both the state and the Federal Governments and all other patriotic citizens.

ACF in a statement by its National Publicity Secretary, Mr Anthony Sani, while calling on aggrieved Nigerians to accept reconciliation, said despite the daunting challenges facing the nation, the country will remain one. The statement read in part: “One way of overcoming the difficulties the nation is passing through is not undue engagement in the blame-game and backward at the expense of looking forward, but to embark on consciously directed fight against corruption which has stolen the opportunities,

the empowerment and the future of most Nigerians.” The ACF continued: “Corruption is the bane of our socio-economic development, because it has distorted our national ideals and moral values, including the social contract among individuals and among groups. “That is why campaigns against corrupt practices must be a task to be undertaken not by the Federal Government alone, but also by all state governments and Nigerians with patriotic courage.” The statement added:

“And in order to achieve such a goal of managing the economy for better performance, the nation must not be at war with itself. “Hence the need for all those with perceived grievances that inspire them to take it out on fellow Nigerians to please accept reconciliation that comes with true forgiveness needed for peaceful coexistence and development. “The situation is certainly not beyond redemption. More so that what cannot break Nigeria can only make it much stronger.”

National Mirror www.nationalmirroronline.net

Enugu Acting Gov calls for new sense of patriotism DENNIS AGBO ENUGU

cting Governor of Enugu State, Mr Sunday Onyebuchi, has called on Nigerians to use the occasion of the nation’s 52nd independence anniversary to embrace a new spirit of patriotism, sacrifice and commitment towards strengthening the unity and socio-economic and political well-being of the country. The Acting Governor, who made this call in his anniversary message, said that contemporary events and circumstances in the country today, were enough to compel Nigerians to pursue ideals and visions that can only foster greater national integration and advancement. He noted that the nature of the challenges facing the nation, more especially those concerning security, unemployment and frequent natural and man-made tragedies, was enough to foist on all, a new sense of solidarity and comradeship that

would enable them pool their resources together and pull the nation out of her current woes. The governor lamented that years of unbridled corruption and political maladministration had disillusioned many Nigerians and caused some to embark on courses that were inimical and detrimental to the unity and progress of the county. He, however, expressed satisfaction that the present generation of Nigerian leaders was showing a visible resolve to restore the nation to the path of glory and rapid advancement, pointing out that this new direction was complemented by the rising level of awareness and sensitivity among the Nigerian masses to issues concerning the general well-being of the nation. He commended Nigerians for being able to sustain democracy after many years of military rule, adding that this has provided the major building block for rapid development in all sectors of the nation’s economy.

Nigeria, a land of hope –Ahmed WOLE ADEDEJI ILORIN

L-R: Diocesan Secretary, Rev. Fr. Andrew Batare; newly ordained Rev. Fr. Sunday Waraka and Bishop of Bauchi Catholic Diocese, Bishop Malachy Goltok, during the ordination ceremony at St. John’s Cathedral Catholic Church in Bauchi, at the weekend.

Aregbesola restates call for true federalism WALE FOLARIN OSOGBO

sun State governor, Mr. Rauf Aregbesola, has restated his call for true federalism in the country. He said that true fiscal federalism remains the only panacea to the nation’s multi-faceted socio-political problems. The governor, who made this remarks in his anniversary message to the people of the state, said that the irreducible minimum is for the nation to operate a true federal structure, which is the longlasting solution to the nation’s protracted problems. According to him, a situation in which constitutional provisions are ignored in high administrative offices could only engender injustices and conflicts, which are

unnecessary but occasioned by flagrant disrespect for the laws of the land. He pointed out that there was need for more powers to devolve from the centre; hence a review of some sections of the constitution to

pave way for true federalism. Buttressing his submission, the governor cited section 7 (1) of 1999 Constitution, which expressly states that it is the duty of the state government, subject to Sec-

tion 8 (3), (5) and (6), to ensure the existence of the local government councils under the law, thus providing for the establishment, structure, composition, finance and functions of such councils.

NBA chairman rates judiciary high CHARLES OKEKE AWKA

s Nigeria marks her 52nd Independent Anniversary today, the Chairman of the Nigerian Bar Association (NBA), Awka branch, Chief S. U. S. Mbanaso, has scored the judiciary high in its overall performance. The rating of the judiciary by Chief Mbanaso was made when he spoke to

journalists yesterday, on two issues, namely, the import of this year’s independent anniversary and the extent the Awka branch has gone in resolving the crisis bedeviling the Awka branch. He said the crisis bedevilling the Awka branch of the association has been resolved by the Elders Committee, headed by Chief O. B. Onyali SAN. Chief Mbanaso said so far Nigeria’s journey at 52 has been very interesting as de-

mocracy is being sustained since 1999. He said insecurity has been a major problem lately, which has affected every other thing in the country. He contended that generally Nigeria has done well, particularly the judiciary. Commenting on the performance of the judiciary within the period, the NBA Awka chairman said; “The judiciary has given the nation the proper direction at critical times, now judgements are delivered based

wara State Governor, Abdulfatah Ahmed, has described Nigeria as a land of hope and unlimited opportunities with the potential to be one of the greatest nations of the world. The governor, in his goodwill message on the occasion of the country’s 52nd Independence Anniversary, signed by his Chief Press

on facts presented before the courts and not based on ouster clauses as was the case during military regimes.” Also shedding light on how the crisis in NBA Awka was resolved, Chief Mbanaso said the elders of the branch had in a resolution made on September 28, 2012, after their intervention-meeting, unanimously confirmed and reaffirmed that the executive committee of the NBA Awka branch remains as elected on July 9, 2011 under the leadership of Chief S. U. S. Mbanaso, as chairman and Basil Obiora Aguigwo as secretary.

Secretary, Abdulwahab Oba, yesterday; the governor said Nigeria as the most populous country in Africa and the seventh most populous country in the world, ranks well among its contemporaries across the globe. According to the governor, having been listed among the “Next Eleven” economies and as the world’s 39th largest economy, Nigeria is poised for greater prosperity, adding that factors such as large population, abundant material resources, rich culture and a conducive natural environment, are signposts of a great nation. He asserted that; “This country in the last 52 years has survived coups d’état and many counter coups, religious insurgencies and natural disasters, this tell me that this nation is not only destined to survive but to be one of the world’s greatest.” Ahmed urged Nigerians to have unshakeable faith in the Nigeria project in spite of the current challenges which he said are not insurmountable.

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

NIGERIA @ 52

News

Gunmen kill Shehu of Borno’s chief drummer’s son INUSA NDAHI MAIDUGURI

ome suspected terrorists in Maiduguri, the Borno State capital, at the weekend shot dead the son to the Shehu of Borno, Alhaji Abubakar Umar Garbai Ibn El-Kanemi’s chief drummer, three days after the drummer was assassinated in Shehuri North Ward of the city. The gunmen, after kill-

• Vandalise Etisalat’s mast in Maiduguri

ing the drummer’s son, also set ablaze the Global System of Mobile Communication (GSM) Etisalat’s mast sited in the same ward. An eye witness, Abdu Saina said: “Two gunmen on foot came here and asked for the whereabouts of the drummers’ son, but we told them that the man does not live here and we don’t know

where he is. “Angered by our response, the gunmen went straight to the house and shot him in the head and chest before his wife and two children. “The gunmen are between the ages of 13 and 15, hanging AK 47 rifles on their shoulders. They killed one of our neighbours attached to the Shehu of Bor-

no’s palace. They killed the other son last month, and now they are eliminating all the sons and relations of the chief drummer. What have they done to the terrorist group?” Confirming the incident yesterday in Maiduguri, the Borno State Commissioner of Police, Yuguda Abdullahi, said that he received the reports of the attacks

in Shehuri North yesterday morning in which two separate attacks were launched in the Shehuri North Ward and the son to the chief drummer was assassinated at his residence, while an Etisalat mast, located in the same ward was also torched by armed hoodlums. Abdullahi, however, said that no arrest had been made, but with the informa-

tion provided to the police by some residents, the suspects would soon be apprehended. He said the remaining telecommunications masts in Maiduguri and its environs were being guarded by policemen to prevent further attack. The torching of Etisalat mast in Maiduguri brings to 25 the total masts of MTN, Airtel, Globacom, and Visafone so far destroyed by terrorists.

Gombe floats N20bn infrastructure bond TOLA AKINMUTIMI ABUJA

L-R: Osun State Deputy Governor, Mrs. Titi Laoye-Tomori; Governor Rauf Aregbesola and Consulate General of the Republic of Germany, Mr. Walter Von Den Driesch, during a courtesy visit to the governor in Osogbo, at the weekend.

FG has borrowed 60% of pension contributions –Operators TOLA AKINMUTIMI ABUJA

ension Operators have said that the Federal Government has already borrowed about 60 per cent of the entire pension contributions through purchase of government bonds by Pension Funds Administrators (PFAs). Giving the hint during a media chat at the weekend in Abuja, the Managing Director of Legacy Pension Limited, Alhaji Misbahu Umar Yola, said the tenure of the bonds ranged from three, five, seven, 10 and 20 years. Yola, however, said the government was planning to phase out the shorter term bonds for the longer tenure bonds. He said the the decision by pension funds operators to invest in Federal Government bonds was because “the Federal Government of Nigeria is the best risk,

it is your best investment in terms of risk.” Restating the essence of the new pension scheme, which is to encourage savings for retirement, Yola said the choice of PFAs to invest in instruments that yield higher returns was the most logically reasonable since investment in infra-

structure is complex and it could not be done without government guarantee. Speaking on the regulatory directive on recapitalisation of PFAs and implications of investing depositors’ contributions for safety of such funds, Yola said: “The account of PFAs is separate from

the funds. So, in the event that a PFA goes under, the funds remain safe and can either be transferred to a new PFA that acquires the defunct PFA or the fund is taken over by the National Pension Commission (PENCOM) and warehoused appropriately for the benefit of individuals.

Insecurity: Anglican Communion to hold special prayers for Nigeria CHRIS NJOKU OWERRI

he Primate of the Anglican Communion of Nigeria, the Most Reverend Nicholas Okoh, yesterday said that the church would hold a special seven-day fasting and prayer session against the insecurity confronting the country. Okoh, who spoke during a sermon to mark the 80th birthday ceremony of Mrs. Dorothy Ihedioha, the mother of the Deputy

Speaker of the House of Representatives in Mbutu, Aboh Mbaise Local Government Area of Imo State, said the fasting and prayer, which will begin on November 1, 2012 in all Anglican churches across the country, will also mark the beginning of the Advent season. While dedicating the newly completed St. Peter’s Anglican Church in Mbutu, the Primate expressed worry over the critical moment the nation is passing through.

He advised Nigerians to deny themselves certain pleasures and pray for God’s intervention in the country’s affairs, adding that the only way by which the value of the country would be restored is through prayers. Expressing regret over the depleting moral values among Nigerians, Okoh noted that the Church should be seen as the catalyst of the rediscovery of the nation’s destiny and eroded values.

he Gombe State Government at the weekend completed plans to raise N20 billion seven-year bond for the execution of projects. The bond is also to enable the government restructure its existing debt for robust fiscal efficiency. Specifically, the state is issuing N20 million bond at par value of N1,000 per unit with a new to raise an aggregate principal amount of N20 billion at a fixed interest rate of 15.5 per cent per annum. The bond is expected to run from 2012 to 2019. The one-day offer, which opens tomorrow and closes same day, is the first tranche under the N30bn Debt Issu-

ance Programme. Access Bank Plc is the Lead Issuing House to the bond issue while the Trustees are ARM Trustees Limited, UBA Trustees and ALM Consulting Limited. Speaking at meeting held on Friday in Abuja, Governor Ibrahim Dankwambo said the government had complied with the provisions of the Gombe State Bonds and Security Law enacted by the state House of Assembly before issuing the bond. The governor said that the House of Assembly had authorised the creation of a Sinking Fund for the monthly deduction of adequate sums of money from the statutory allocation of the state for the repayment of principal and interest throughout the tenure of the bond.

2015: Kalu, NUJ back agitation for Igbo Presidency DENNIS AGBO ENUGU

ormer Abia State Governor Orji Uzor Kalu and the Nigeria Union of Journalists (NUJ) in the South-East have supported the agitation for the emergence of an Igbo man as Nigeria’s President in 2015. Kalu has said that Nigeria would continue to wobble on her journey to nationhood and socio-economic prosperity unless an Igbo man is elected the nation’s President. He said: “The country is in trouble because God’s anointed people are not there yet, until the Igbo take over the mantle of leadership, Nigeria will

not have a pride of place in the world. “Forty-two years after the civil war, it is an insult for somebody to tell you that Igbo cannot be president. If all these tribes can be president, who among them is more qualified than an Igbo man? We are the salt of this nation, we are the best thing that happened to this nation. Anything good comes from the East and we are the genuine easterners; unless we rule this country, the country will never develop.” NUJ, however, said that after a critical look at the events building up to the 2015 general elections, it decided to support the agitation that an Igbo man be elected the next president.

News

NIGERIA @ 52

Monday, October 1, 2012

National Mirror www.nationalmirroronline.net

Nigeria at 52: Nothing to celebrate, says Okei-Odumakin OLAJIDE OMOJOLOMOJU

L-R: Ogun State Governor, Ibikunle Amosun; his wife, Olufunso; Deputy Governor, Prince Segun Adesegun and Speaker, Ogun State House of Assembly, Hon. Suraj Adekunbi, at the special church service to mark Nigeria’s 52nd independence anniversary in Abeokuta, yesterday.

2013 Budget: Why Reps stopped Jonathan –Deputy Leader SOLA ADEBAYO WARRI

he Deputy Leader of the House of Representatives, Hon. Leo Ogor, yesterday shed light on the lingering controversy over the presentation of the 2013 budget to the National Assembly by President Goodluck Jonathan. Ogor said the House refused to accede to the request by President Jonathan to present the 2013 appropriation bill before a joint sitting of the National Assembly on October 4, in the public interest. The federal lawmaker, who spoke with National Mirror, said the president has been duly informed about the position of the House, adding that the National Assembly and the

Presidency would reach a compromise over a new date for the budget presentation as soon as the House resumes plenary on October 9. It will be recalled that the House had shelved the budget presentation by Jonathan until a later date. The Senate also joined the House on the issue, stating that acceding to President Jonathan’s request would negate the constitutional provision which stipulates a joint sitting by the two arms of the National Assembly. To this end, Ogor in the interview with National Mirror, said the position of the House was not an affront to the president, adding that the oversight functions of the House which had been scheduled before

the President’s communication to the House on the 2013 budget could not be compromised. He said the ongoing monitoring of the performance of the 2012 budget by the House was meant to provide inputs into the 2013 budget. Specifically, he stated that the exercise was scheduled to identify all abandoned projects throughout the country with a view to making provision for them in the 2013 budget. His words: “We have planned on those schedules (oversight functions) before Mr. President communicated to us on the 2013 budget. “The essence of the ongoing oversight duties is to get information on some of the development proj-

ects in the country and appropriate funds for them in 2013. The essence is to gather information on the level of implementation of projects programmed in the 2012 budget. “You are aware that the Christopher Kolade Panel said over 1,000 projects were abandoned throughout the country and the House is committed to ensuring that these projects are appropriated for and completed in 2013. “We are not against Mr. President, he is going to present the 2013 budget as soon as we resume plenary. The issue will be taken care of and we have communicated to Mr. President that we meant well for the country and that our action is purely in the interest of the public.”

s government officials roll out the drums to celebrate the country’s 52nd Independence Anniversary, the Campaign for Democracy (CD) has declared October 1, 2012 as a day of national mourning. The CD said this in a statement issued by its president, Dr. Joe Okei-Odumakin, describing the 52 years of Nigeria’s independence as a complete waste, bungled opportunities and the total ruination of a nation. Okei-Odumakin’s words: “The last 52 years have seen Nigeria degenerating into hell on earth for millions of its citizens, who do not have access to state treasury. One of the richest countries on earth in terms of human and natural resources today has 72.2 per cent of its inhabitants wallowing in abject poverty.” Lamenting how corruption has destroyed the des-

Multinationals’ll soon come to NSE for listing –Dangote JOHNSON OKANLAWON

he President of the Nigerian Stock Exchange (NSE), Alhaji Aliko Dangote, has said that within the next one year most multinational companies in the country would have approach the capital market for listing. Dangote, who spoke at the NSE 51st Annual General Meeting in Lagos on Friday, said that the Exchange is already making success of the introduction of market makers in the equities seg-

Constitution review: Public hearing holds in October GEORGE OJI ABUJA

he public hearing to formally flag off the commencement of the constitution review process for the 1999 Constitution will hold in Abuja between October 11 and 12, 2012. Thereafter, the process will move to the zones and states of the federation. Deputy Senate President, Senator Ike Ekweremadu, who also doubles as the chairman of the Constitu-

tion Review Committee (CRC) of the National Assembly, who disclosed this in a statement yesterday in Abuja, said the review process would be expedited such that by July next year, the process would have been concluded. Ekweremadu assured that the constitution amendment would address the key constitutional challenges facing the nation, urging support for the project. He said from the responses received by his committee

from the advertised call for the submission of memoranda, the following issues generated the greatest interest and would dominate the review process. These he said include the devolution of power among the tiers of government, fiscal federalism, state creation, the Nigerian Police, local government system and rotation of executive offices. Others, he said are residency and indigene provisions, immunity clause, recognition of the six geopolitical zones in the con-

stitution as well as executive and judicial reforms. He said these were informed by the memoranda submitted by Nigerians to the committee. Urging Nigerians to seize the opportunity of the public hearing and the entire constitution amendment process to bare their minds on the way forward for the nation, Senator Ekweremadu enjoined the nation’s leaders and the citizenry to “invest total political will, patriotism, altruism, and

tiny of a potentially great country which makes Nigeria to be dancing at the edge of the precipice as it celebrates 52 years, the CD said: “The golden trophy of our so called celebration is the untold hardship our people are going through in getting fuel, occasioned by the corruption in the oil sector signposted by the about N3trn subsidy theft in 2011 alone. “It’s a shame to the rulers of Nigeria that our people are going through this needless suffering where Niger Republic that has just found oil has built a refinery to service its domestic needs and export as well.” The CD condemned most past and present leaders of the country since independence whose actions and inactions have ensured that today we have a country where infrastructure have failed, where security of lives and property cannot be guaranteed and where the people are badly divided along religious and ethnic lines because of failure of leadership.

fair-mindedness in the ongoing project to make Nigeria a better place for this and future generations.” The deputy senate president also commented on the nation’s 52nd independence anniversary and regretted the setbacks suffered by the nation in its post-independence history, noting that, “Some basic constitutional frameworks laid by the founding fathers to engender a peaceful, united, and prosperous nation had been gravely distorted.”

ment of the market. He said that the Exchange is in the forefront of encouraging investors to the market to attain utmost desires of the country. “We are encouraging Nigerians to invest in the market. We have taken quite a lot of companies to government on the need for them to be listed and we are going to achieve this in the next one year,” he noted. Dangote, who called on investors, both local and foreign, to take advantage of the virile domestic economy, pointed out that the unbundling of the power sector is another opportunity for the Exchange to tap into, as those successful companies would be approached for listing as soon as they start to make profit. His words: “We are going to persuade the government to list part of its 49 per cent in the companies, so as to enable Nigerians benefit from the privatization of the power sector.” On the outlook of the Exchange for 2012, he said that the new management of the NSE provides a vehicle for long-term saving and borrowing as well as efficient use of financial resources.

National Mirror www.nationalmirroronline.net

Monday, October 1, 2012

News

NIGERIA @ 52

JTF kills two in Zaria bomb factory raid

•Hoodlums slay two policemen in Niger A ZA MSUE AND PRISCILLA DENNIS

wo suspected terrorists were killed yesterday in Zaria, Kaduna State, after the Joint Task Force (JTF) embarked on a raid to arrest extremists responsible for violence in the state. The operation was specifically carried out in a building suspected to be a warehouse where Improvised Explosive Devices (IEDs) were being made. It was learnt that many houses around the scene of the operation were destroyed as a result of a gun battle and explosions between the

security operatives and the terrorist group. The incident happened at about 10:am when Christians were preparing for church service. A resident, who did not want his name mentioned, said the heavy blast was heard in the city and its environs. The resident said: “I heard the heavy sound at about 10am. Most people did not go to church because of the explosion. Actually, I don’t know which part of Zaria it happened. I called a security man, but he told me it was a military action.” Two persons were however, killed while others were injured during the raid. Zaria city, in June,

We won’t allow residents to retain flood prone-areas –Uduaghan

elta State Governor Emmanuel Uduaghan has said that residents of flood-prone areas of the state would not be allowed to retain their residence after evacuation. Uduaghan spoke at the weekend after an aerial inspection of the parts of the state affected by the flooding. The governor, who was shocked at the extent of the damage in Aboh and environs, said the decision became necessary because no matter the temporary measures taken, the place would still be flooded in future. He said that no structural development would be allowed in the flood proneareas. According to the governor, there will be a major reclamation of land around Infant Jesus area of Asaba, along the river Niger banks, through Okwe to the Oko communities. Uduaghan said: “There is a lot of work to be done. First, the extent of the flooding is quite deep inside, about 10km inside. Those places are regarded floodprone areas and we will not allow development to take place in the area and there is need for reclamation. “It is obvious that there is need for a lot of relocation before embankment. The ones camping must

leave while some would be relocated’’. The governor said the frequent inspection of the affected areas became necessary in order to be able to make effective and comprehensive plans for the victims and the areas affected. He noted that the extent of the damage was enormous for the state and even the Federal Government to handle. Uduaghan, therefore, called on well-meaning individuals to assist the government in ameliorating the sufferings of the victims. He commended the Red Cross, Non-Governmental OrganiSations (NGO) and some individuals who have come to the aid of the victims. Meanwhile, the Lagos State Government has been commended for taking proactive steps in warning residents about the implications of the rainfall predictions as well as its numerous efforts to prevent flooding. The Director General of Nigerian Metrological Agency, Dr Anthony Anuforom, commended the Lagos State Government during an interactive session with governors and stakeholders on the state of Nigerian Environment in Abuja.

witnessed bomb attacks on Evangelical Church of West Africa (ECWA),Wusas; Christ the King Cathedral Catholic, Sabon Gari; during church service. A statement signed by Army Public Relations Officer, (APRO), Nigerian Army Depot, Zaria, Capt. Ibrahim Abdullahi, said the Boko Haram sect engaged the Army and State Security Service (SSS) in a fierce gun battle. The statement reads: “A tip off that Boko Haram was planning a major suicide mission in Zaria, Kaduna and Suleja to coincide with Independence anniversary led to the joint operation” Capt. Abdullahi said that after the operation, it was discovered that

the building was being used as warehouse as explosives were found inside. He, however, added a “controlled detonation was carried out by Army Engineers so as to save the residents of the area and to further stop the activities of the sect.” The Kaduna State Commissioner of Police, Mr. Adefemi Adenaike, confirmed the explosion to National Mirror, but said it was done by the JTF in a joint operation with the State Security Service (SSS), police and other security agencies. Adenaike “We are aware of the explosion in Zaria, but let me tell you it was not carried out by terrorist. Security agencies did it. “No details for now because the operation is on-going. After we

finish, I will give you the full details. There is nothing to worry about. The public should not be panic. I told you we are aware of the explosion carried out by the JTF in Zaria.” Meanwhile, the Niger State Police Command has begun manhunt for the killers of two policemen shot dead last week Saturday at Kpakungun Roundabout in Minna, the state capital. A Sergeant and Constable were killed at their duty posts by yetto-be identified hoodlums at about 8:45pm on the day of the incident. It was learnt that the hoodlums approached the policemen at the Roundabout, flashed their vehicle’s light on their faces and thereafter packed a few meters away.

Not knowing that danger was lurking, one of the policemen walked close to vehicle in order to interrogate the occupants. As the Constable moved closer to the vehicle, the hoodlum shot him on the fore head. The policeman died on the spot. As the Sergeant attempted to move, the hoodlums fired another gun shot at him. He also fell immediately. The attackers thereafter picked the policemen’s fire arms and shot sporadically into the air before they zoomed off. The police spokesman, Pius Edobo, confirmed the incident, adding that the Niger State Command had begun move to arrest the suspects. It will be recalled no fewer than five policemen were killed by hoodlums at various check points in Minna, Maje and Suleja about five months ago.

A LAGBUS vehicle that crashed into a wall at CMS Bus Stop in Lagos, at the weekend. PHOTO: YINKA ADEPARUSI

Gunmen abduct Delta commissioner, kill police orderly SOLA ADEBAYO WARRI

elta State Commissioner for Higher Education, Prof. Hope Eghagha, was yesterday abducted by gunmen along Effurun/Agbor Highway. However, his police orderly, a sergeant, was un-

lucky as he was killed by the hoodlums. Police sources told National Mirror last night that the gunmen trailed Eghagha from Warri to a point between Agbor and Abavo along the Effurun/Agbor Highway before where they intercepted his convoy. It was further learnt that the gunmen instantly

opened fire on the convoy. The police orderly, who sat beside the driver at the front of the Sport Utility Vehicle, was killed by the hoodlums. The driver was also injured. The whereabouts of the commissioner was yet to be ascertained as at press time last night.

Government and family sources told National Mirror that the kidnappers had not contacted them. The police spokesman, Mr. Charles Muka, confirmed the incident in a telephone interview with our correspondent, adding that efforts were being made to free the commissioner unhurt from captivity.

WORLD RECORD

Oldest complete cutlery set

Vol. 02 No. 459

N150

Monday, October 1, 2012

The oldest complete set of cutlery in existence is The Altenstetter Service,a rare German basse-taille enamelled silver and parcel-gilt set created by the Renaissance goldsmith David Altenstetter in 1615.

Nigeria: A tale of three generations

t today’s Independence Anniversary declaration, we are compelled to analyse the history of Nigeria once again. The first imperative is that although a lot of people try to make it appear a complex and peculiar incredible series of events and situations, the history of Nigeria is in reality just a tale of three generations. Those three generations, in all their actions and inactions, are the key to understanding everything Nigerian and therein also lie possible solutions to the woes of the country. The troubles of the country are many and obvious for all to see; there will be no awards for predicting that many analysts and commentators will be understandably delving into those woes this week. On my part, I will like to make it clear that I am firmly convinced that there is

NOTES FROM CAMBRIDGE Anthony A. Kila

anthonykila@mail.com nothing wrong with Nigeria that cannot be cured; all we need is the personal courage to make eye contact with reality, regardless of what it looks like, and to have the collective ability to live with the consequences of our actions and inactions. The three generations to be followed in the tale of Nigeria are the generation of dreamers and inspirers; the generations of squanderers and survivors, and the generations of redeemers. The latter generation is yet to come and with them lies all our hope as a people. Yes, civically speaking, the beautiful ones are yet to be born. The first generation of dreamers and inspirers are those we refer to as our founding fathers. Conventional wisdom in Nigeria uses the names and images of the trio of Chief Obafemi Awolowo, Dr Namadi Azikiwe and Sir Ahmadu Bello plus that of Sir Tafawa Balewa to symbolise that generation. A better list, even if minimal, should always include the names of Herbert Macaulay, Eyo Ita, Alvan Ikoku, Udo Udoma, Aminu Kano, Anthony Enahoro and Michael Okpara. A major trait of the generation of dreamers and inspirers is their visions for their country and African continent. They all had grand ideas and ideals for their country and people; they wanted both to be free and great. In their minds, they were not just in politics to administrate power, they saw themselves on a mission to rescue their race. They communicated their visions and aspirations with their speeches and writings. Their rhetoric was always grand and they never shied away from

I WILL LIKE TO MAKE IT CLEAR THAT I AM FIRMLY CONVINCED THAT THERE IS NOTHING WRONG WITH

NIGERIA THAT

CANNOT BE CURED challenging injustice, rather they seemed to enjoy the confronting of power. Once in power, this generation of Nigerians put the masses at the heart of the actions. They knew they had to build institutions and infrastructures and they went about it diligently. Awolowo led the way and others swiftly followed suit in a creative competitive way that became a winwin situation for all. From the free education programme, to the establishments of Ikeja Industrial Estate, Aba and Port Harcourt Industrial layouts and Kaduna and Kano Industrial areas. The fruits of their labour were real, clear and are still yet to be surpassed. International analysts saw them at work and predicted that Nigeria was destined for greatness. There is still a lot to be learnt from and about that generation. The second generation, the generation of squanderers and survivors, came into office wearing uniforms and seized power with the use of boots and bullets. These

were bullets and boots that we gave them to defend the country against external threats; keep an eye on your “maiguard” if you have one. They never bothered to inspire or convince, they simply scared, tortured and subdued their fellow citizens. With their decrees and dismissive orders they ruined the institutions they met and annihilated the middle class that could check them. After they had wrecked all they could and utterly disgraced themselves, they eased their ilk into power to continue their misdeeds. While the squanderers were destroying the country, the other part of that generation, save for a very few, did not fight back. Most of them who couldn’t, or wouldn’t, or simply didn’t stand up to leaders, turned looters. They simply resorted to finding means of surviving. Many left the country to seek greener pastures; the ones that stayed became beggars and hustlers. Rather than being proud of their ideas, dedicated to their professions and be protective of their ideals, they, in the name of survival, became accommodating to rascals. Just to survive they lowered their standards, wasted their knowledge and allowed mediocrity to thrive. Terms like dignity, duties and rights have been trashed by many in this generation; fathers of family are proud to identify themselves as someone else’s boy, professionals beg for appointment, contractors and suppliers beg and bribe to be paid. Rather than protect their schools, they look for private schools for their children; rather than campaign for good roads, they buy jeeps; rather than insist on stable electricity, they queue to buy generators. The generation that will save the country from all these rot will be the generation of redeemers. They have a strong battle in their hands for they have few examples at hand to support them. Yet they have no choice but to find their voices and chart their own course. They will have to face reality, see where survival mode has gotten the country and they will need to realise that only dignity and dedication can lead to greatness.

Sport Extra

wenty-three Super Eagles players from the domestic league commenced camping yesterday in Calabar ahead of the crucial African Cup of Nations final round second leg match with the Lone Star of Liberia on October 13. National Mirror gathered that full training will begin today as the

Afcon 2013: Eagles open Calabar camp coaches unpack their programme for the players in the next one week before the 15 invited foreignbased players arrive on October 8. According to spokesman for the Nigeria Football Federation (NFF), Ademola Olajire, has said

that logistics to ensure that the country get victory in the match has been put in place. “We know the importance attached to this game and we are not leaving anything to chance,” Olajire assured.

“We are also sure that the technical crew has made it clear to especially the foreign-based players that late coming will not be tolerated,” the spokesman added, stressing, “The players will be highly motivated ahead of the match.” NFF President, Maigari Godfrey Aminu Oboabona

Printed and Published by Global Media Mirror Ltd: Head Office: Mirror House, 155/161 Broad Street, Lagos Tel: 07027107407, Abuja Office: NICON Insurance House, Second Floor, Central Business District Area, Abuja Tel: 08070428249, Advert hotline: 01-8446073, Email: mail@nationalmirroronline.net. Editor: SEYI FASUGBA. All correspondence to PMB 10001, Marina, Lagos. Printed simultaneously in Lagos, Abuja and Ondo State. ISSN 0794-232X.