BusinessDay 11 May 2023

Nigeria’s debt burden re-echoes danger of ‘rubber stamp’ lawmakers

By Isaac Anyaogu

NIGERIA’S1999constitutiongave lawmakers the power of the purse to moderate the excesses of the executive by putting stipulations

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Buhari reneges on jobs promise as unemployment quadruples

By Bunmi Bailey

Nigeria’s InfraCorpinlimbo as CBN delays seed funding

By Lolade Akinmurele, Dipo Oladehinde & Eniola Olatunji

THE Infrastructure Corporation of Nigeria (Infracorp) is yet to fully take off due to a

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Tribunal rules on Atiku’s live broadcast motion today

>> Turn to page 2

Tackling poverty in Nigeria

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19 days to swearing-in, Tinubu jets out to Europe

>> Turn to page 9

L-R:Aliko Dangote, president, Dangote Group; Tony Elumelu, chairman, Heirs Holding Ltd, and Bala Wunti, chief upstream investment officer, NNPCUpstreamInvestmentManagementServices(NUIMS),duringtheAnnualValueAssuranceRevieworganisedbyNUIMSinLagos,yesterday.

COMMENTARY

As Buhari prepares to depart, Nigeria is in need of serious reforms

By Ayisha Osori NIGERIA’S Muhammadu

Buhari began his presidency with tremendous goodwill. Like millions of Nigerians, I cheered when, during his inauguration in 2015, he said: “Insecurity, pervasive corruption, the hitherto unending and seemingly impossiblefuelandpower shortages are the immediate concerns. We are going to tackle them head on.”

These turned out to be empty words.

Tribunal rules on Atiku’s live broadcast motion today

...moves hearing on Obi’s petition against Tinubu to May 17

By Godsgift Onyedinefu & Gbemi Faminu

THE Presidential Election Petitions Tribunal sitting at the Court of Appeal Abuja will on Thursday (today) make a pronouncement on the motion by Atiku Abubakar, thepresidentcandidateof PeoplesDemocraticParty (PDP), for live broadcast of the proceedings of the tribunal.

The tribunal will also hear the petition of PDP andAtikuchallengingthe February 25 presidential election.

Justice Haruna Tsammani, the presiding judge, had on Tuesday adjourned the hearing to enable the parties to identify the major issues for the panel to consider in a timely manner, and avoid duplications.

The tribunal will also consider the new motion filed by President-elect Bola Tinubu’s counsel, Wole Olanipekun, which

is seeking dismissal of the petitions by Allied Peoples Movement and Atiku for lack of merit.

During Wednesday’s hearing, there were protesters at the court.

Apro-democracygroup under the umbrella of ‘The Natives’, in reaction to the ongoing presidential election tribunal, is protesting against activities of opposition parties who are contesting the results of the 2023 presidential election.

The group was seen carrying banners and placards in a solidarity walk on Wednesday in Abuja as they headed to the Appeal Court.

The group was led by Smart Edwards, who had earlierwarnedpoliticians to stop inciting Nigerians against the democratic process.

“Our message is very clear. This is one indivisiblecountryanditbenefits nobody that the country goes into flames. We have

said that elections have been won and lost. On this presidential election, Bola Ahmed Tinubu won clearly,” he said.

Meanwhile, the tribunal moved hearing of the petition filed by the Labour Party and its presidential candidate, Peter Obi, challenging the 2023 presidential election, to May 17, 2023.

Justice Tsamani pronouncedtheadjournment followingarequestbyparties during Wednesday’s pre-hearing of Obi and Labour Party’s petition.

During the session, Levi Uzoukwu, head of Obi’s counsel, moved the motion for adjournment, saying it would enable parties to file all process and decide on matters to be determined in other to ensure a seamless process. He said all parties met and agreed to the decision.

“Due to the number of outstandingprocessyetto be filed, we have agreed

that it would be better if this matter is adjourned to Wednesday to enable parties file all processes. So that when we are comingback,wewouldensure that the process arrive for hearing. Before then, we will meet and take a decision on documents that are not in contention and documents that are controversial. We would have agreed on the documents to be tendered without being objected to,” Uzoukwu said.

“Counsel to the respondents and petitioners agreed that rather than continuously adjourning the matter, it is best to file all the motions and applications served parties and come back on Wednesday 17th May, and have it adopted or argued to save time,” he said during an interactive session withjournalists.Headded that the party has filed a motion for live broadcast of the court’s proceedings.

Justice Tsammani movedthedateofthehearing and asked all parties to draw up issues to be determined to the next date of the adjournment.

“We recommend that issues to be determined be filed following what

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Today, with Buhari preparing to step down at the end of this month, insecurity is worse. In 2015, Boko Haram was the major security threat, contained largely to the North-Eastofthecountry. Today, insurgency has spread to the North-West and down towards the capital, Abuja. Across the country, criminal police, extortion, banditry and communal violence make Nigerians unsafe at home, in school and while travelling. Kidnapping for ransom is a booming industry.

Large parts of Nigeria are ungoverned, despite Buhari funding the military more than any other president since 1999. The military tradition of underfunding the police has continued under Buhari, despite the “EndSARS” protests against police brutality in 2020.

Corruptionscandalsare still common. The pardoning in 2022 of two former governors, who happened to be members of Buhari’s own party, convicted of stealing billions underminedthepresident’sclaim to the title “mai gaskiya” (honest one).

Buhari’s tenure has also been economically ruinous. He closed land borders to drive up agricultural production and manufacturing but ended

by starving industries and shutting in entrepreneurs. Dollar trading became the hottest rentier gig in town as the value of the naira plummeted. And last month, the National Bureau of Statistics announced, to little surprise, that foreign direct investment had dropped to its lowest levels in nine years: from $3 billion in 2015 to $468 million. Weak investor confidence has gone hand in hand with declining purchasing power, with over 13 million Nigerians predicted to fall below the poverty line between 2019 and 2025.

Theftofcrudeoilonan industrial scale reduced productionbyalmosthalf, forcing Buhari to cut a deal with a Niger Delta militant he had previously attempted to prosecute. Fuel subsidy payments and fuel consumption have soared, yet fuel scarcity prevails.

Meanwhile,thenational debt has risen sharply over the past five years. Some of it was invested in transport infrastructure. The principal benefit of financing roads is to be found in the boost it gives to the movement of people, goods and services. But insecurity, border closuresandanuncertain regulatory environment have smothered that.

Genuine progress, such as the signing into law of important pieces of legislation, including the Petroleum Industry Act of 2021, has been hindered bycumbersomeprocesses andpoorimplementation.

Buhari declared that his legacy would be defined by overseeing free and fair elections in 2023. He failed. No election since 1999 divided Nigerians the way the last one, held on February 25, did.

TheIndependentNational

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Low-cost tickets return as airlines’ trapped funds trickle in

•More destinations available as business rebounds

FOREIGN airlines operating in Nigeria are gradually opening up low-cost tickets as the Central Bank of Nigeria has released some of their trapped funds.

Last year, airlines blocked low ticket inventories, leaving high inventories to be sold in naira only while the low-cost tickets on most airlines’ websites could be bought with dollar cards only. This was in a bid to cushion the effect of their trapped funds in Nigeria, which rose from $744 million

in March to $802 million in April.

Following the gradual releaseofthetrappedfunds, airline business is rebounding as airlines opened up more destinations for international travel and low-cost tickets for passengers.

BusinessDay’s findings show that Air Peace, for instance, commenced twoweekly flights to Israel. The airline also recently launched Mumbai operations.

Angola Airlines is currently in talks with the fed-

eral government to extend its footprint to Nigeria and operate direct flights from Angola to Nigeria.

Saudi Air is planning to further extend its network to Nigeria later in 2023, backed by a Saudi Arabian government scheme designed to draw in more tourists.

With the support of the Saudi Air Connectivity Program, the airline said it intends to start four new routes, offering flights to China’s capital Beijing, Birmingham in the UK,

Johannesburg in South Africa,andKanoinNigeria.

Ethiopian Airlines also announced connecting flights from Nigeria to Addis to Atlanta, Addis to Karachi and Addis to Geneva, among others.

Ethiopian Airlines, South African Airlines and Qatar Airways have since sustained their increased frequencies into Nigeria despite the trapped funds.

Bankole Bernard, chairman of Airlines and Passengers’ Joint Committee of the International Air Transport Association said the airlines’ interest in commencingflightsintoNigeria

show that the market is very viable.

He said: “The airline business in Nigeria is a viable industry. When you see the number of flights that leave Nigeria comparedtothepopulation,you realise that there is still a lot of potential that is yet to be tapped.

“It is a welcome idea that we even have a local carrier that is opening up all these new destinations. It will help in foreign exchange generation. It means we have more people coming to us from that end, so it is a great idea.”

He said another reason

airlines are opening up new routes from the Nigerian market is the gradual paymentoftheirtrappedfunds.

“Now the airlines are getting their money, although not as fast as it ought to be because the exchange rate has gone up as well.Theairlines’exchange rate is N634 to a dollar now. The fact that the funds are trickling in little by little is encouraging airlines to open up because they know they will get their money,” Bernard said.

He said while no airline

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L-R: Lanre Olasunkanmi, registrar/chief executive, Chartered Institute of Taxation of Nigeria (CITN), Gladys Olajumoke Simplice, immediate past president; Adesina Adedayo, president, and Tijjani Musa Isa, president, Institute of Chartered Accountant of Nigeria, during the ongoing 25th Annual Tax Conference in Abuja, yesterday. Pic by Tunde Adeniyi.

Ifeoma Okeke-Korieocha

Buhari to spend one more week in London - Presidency

By Tony Ailemen, Abuja

THE presidency says said President Muhammadu Buhari will be in London, the United Kingdom, for an additional week.

Femi Adesina, the special adviser to the president on media and publicity, on Tuesday, night said the extension is “at

the behest of his dentist, who has started attending to him”

The specialist requires to see the president in another five days for a procedure already commenced.

Thepresidentdeparted Nigeria Wednesday last week to join other world leaders for the coronation of Charles III and

his wife, Camilla, as the King and Queen Consort of the United Kingdom respectively.

As part of the visit, the president participated in thesummitwhichdeliberated on the future of the Commonwealth and the role of the youth.

The current visit is likely to be the last for Buhari as president, as

POLITICS

True federalism, subsidies top citizens’ agenda for incoming govt

By Onyinye Nwachukwu

he is expected to hand over to Bola Tinubu, the president-elect on May 29.

President Buhari was accompanied by Boss Mustapha, the secretary to the government of the federation; Geoffrey Onyeama,ministerofforeign affairs, and Lai Mohammed, minister of information and culture, among others.

CITIZENS and experts who gathered Tuesday in Abuja to discuss how Nigeria can build a post-oil economic future, placed good governance, true federalism, and removal of fuel subsidy top on their list of immediate expectationsoftheincoming government.

The event organised by The Carnegie Africa Programme and Agora Policy was to launch and present the book titled “Economic Diversification in Nigeria”, authored by Zainab Usman, the pioneer director of the CarnegieAfricaProgramme.

Governor Nasir El-Rufai of Kaduna State, who spoke at the event said Nigeria’s enormous fiscal challenges requirenecessaryandurgent reforms, good leadership and a firm commitment by the incominggovernmenttotake bold and decisive steps in devolving powers from the central government, removing fuel subsidies, as well as ensuring that competent peopleareengagedintooffice.

According to him, with Nigeria’s revenues just among the lowest in terms of GDP globally, worsened by ballooning debt, the size of the Federal Government, andanumberofstatesstruggling, the country is already “boxed against the wall” and mayfacedireconsequencesif urgentactionsarenottaken.

MARITIME

Lekki Port to recover Nigeria’s lost trans-ship cargo, boost Eastern Ports

By Amaka Anagor-Ewuzie

THE Nigerian Ports Authority (NPA) has mandated the management of the newly completed Lekki Port and Lekki Freeport Terminal and its terminal operator, to work towards recovering Nigeria’s transship cargo lost to other neighbouring West African countries.

Trans-ship cargoes are goods bound for landlocked countries but are imported through Nigerian Ports for the destination country. Nigeria lost those cargoes to Cotonou Port due to inefficiency in port operations.

Kehinde Olubi-Neye, the chief commercial officer of Lekki Freeport Terminal, told journalists in Lagos on Wednesday during a tour of the Lekki Port facility, that the new port, which has invested close to $100 milliontoacquireterminaland cargo handling equipment, has the needed equipment and the draft to recover trans-ship cargo bound for landlocked neighbouring countries.

He said the Lekki Freeport Terminal has discussed with stakeholders, including Nigeria Customs Service and they are confident that recovering transshipment cargo not just for the hinterland but also for landlocked countries and other regional countries will be back in the country.

He said the port has also seentheopportunitytoplay a role in the uptake of cargo in the Eastern ports, which is why they are currently having discussions on moving containers discharged at Lekki Port by barge to the Eastern ports of Calabar, Warri, and Onitsha River Port among others to help increase the economy of those ports.

On cargo evacuation from the port, Olubi-Neye said Lekki Port operates an automated system that is linked to the automated gate with the vehicle booking system where truck drivers are required to book appointments in advance.

“This also supports the initiative of the Lagos

State government with regard to the comprehensive call-up system for the Lagos Free Zone, Lekki Port, Dangote Free Zone, Dangote Refinery and the Pinnacle Oil and Gas. We are in active discussions with the Lagos State ministry of transport and other stakeholders on the deployment of the call-up system for the Lekki area and we have confidence that the coming onboard of the call-up system for trucks will address any concerns that prospective port users would have over access to the port,” he said.

Beyond the road, he said that Lekki Port is also exploring the possibility of moving cargo by barges and has been able to execute more than five barge moves of over 900 twentyfoot equivalent units of containers (TEUs) from Lekki Port to the Ikorodu area of Lagos.

He further disclosed that the port has completed a truck park very close to the port with a capacity for 150 trucks.

“We don’t have any choice; Nigeria must address fuel subsidies. They mustbeaddressedtomorrow, otherwise, we’ll end up in the hands of the IMF,” said El-Rufaiwhoseparty-therulingAllProgressiveCongress (APC) has been in power for eight years.

“So, I think that kind of understanding by the political elite will bring everyone to an understanding so that we are realistic about tackling our problems and our situation.Wehavetobevery serious and pragmatic about solving our problems.”

He said at this critical juncture in Nigeria’s economic and political history, the country does not have a choice but to sit down and agree that the only way out of an imminent collapse is to alleviatesomeofthesedistortionsandthentrytoputpoliciesinplacethatwillunleash the kind of political competitiveness which will then make development smooth and attractive and devoting morepower,responsibilities, budgets to the states.

Raising concerns about the huge fiscal constraint which Nigeria faces, he regretted that despite the urgency, the country cannot increase its revenues in the short term, and is unable to raise its six percent revenue to GDP tax to 20 percent in one year and therefore requires a long-term plan.

Dangote, Elumelu hail NNPC’s performance under Kyari

By Chinedu Ndigwe

ALIKO Dangote, chairman of the Dangote Group, and Tony Elumelu, chairman of HeirsHolding,havepraised the performance of the Nigerian National Petroleum Company Limited (NNPCL) under the leadership of Mele Kyari, its group chief executive officer.

Speaking on Wednesday at the ongoing 2023 NNPC Upstream Investment Management Services Limited (NUIMS) Annual Value Assurance Review (AVAR)Workshop,themed: “Consolidating for Growth in PIA Era”, Dangote said NNPCL has what it takes to become the African version of Saudi Arabia’s Aramco, adding that it can generate billions of dollars in revenue if the right decisions are made.

“The Petroleum Industry Act (PIA) transformed NNPC from a government establishment to a commercial entity with no recourse to government funding,” Dangote said.

“We need to look at our

infrastructure and see how we can take ourselves to the next level, and it has to be driven by NNPC because they are the largest conglomerate. Whatever happens to NNPCL assets affects us directly or indirectly.”

Africa’s richest man added that the state oil company needs to roll out massive investments in oil and gas to meet demand, adding that many off-takers are waiting to invest.

According to him, NUIMS has a critical role in unlocking funding to take advantage of the sector’s huge opportunities and actively manage the investments to repay its loans, generate reasonable returns, and fund investment in new opportunities.

On his part, Elumelu said that Heirs Oil & Gas has witnessed 96 percent recovery rate due to the efforts of the NNPCL, FG and security agencies. The chairman added that NNPCL deserves praise for curbing crude oil theft.

In his remarks, Kyari

said the global challenges facing the oil and gas industry have made it compelling for the NNPC to develop more ingenious ways of doing things.

He admitted that there have been challenges with security and underinvestment recently, adding that with the passage of the PIA, the NNPC is better positioned to create value for Nigerians.

“The industry’s crux is to ensure the upstream industry works. If the upstream works, there would be cash in the country. We are in a cash and forex crunch today because the upstream has not reached a level where we can have a surplus to support the economy,” he said.

“NNPC is leading this process, we are required to ensure that production cost is optimum, we have interest in nearly every business in the upstream sector and even in the midstream, and our performance determines what happens in the industry. We are in a positiontogobacktonormalcy.”

L-R: Victor Okhai, president, Directors’ Guild of Nigeria; Evi Odafe-Ejumedia, channel head, Africa Magic; Victor Sanchez Agahowa, executive head, productions, Africa Magic; Busola Tejumola, executive head, content and West Africa Channels, and Adedayo Thomas, director-general,NationalFilmandVideoCensorsBoard,attheMultiChoiceFilmandTelevisionStakeholdersEngagementEvent,inLagos.

MARITIME SECURITY

Nigeria, others plan ‘Maritime Force’ to fight crimes in Gulf of Guinea

...as Navy invites Buhari for presidential fleet review

By Godsgift Onyedinefu, Abuja

THE Nigerian Navy on Wednesday disclosed plans by Nigeria to set up a Maritime Task Force in partnership with other countries in the Gulf of Guinea to boost security and rid the region of crimes and other emerging threats.

AwaalGambo(viceadmiral), Nigeria’s chief of naval staff, made this known duringapressconferenceonthe

Nigerian Navy Presidential Fleet Review (PFR) 2023, in Abuja. The countries in the GulfofGuineaincludeNigeria, Ghana, Benin, Togo, Liberia, Sierra Leone, Guinea, and Cote d’ivoire.

Some of the organised crimes in the Gulf of Guinea include sea piracy, pipeline vandalism, crude oil theft, insurgency, unregulated fishing, pipeline vandalism, kidnapping, among others.

The naval chief, who was represented by Rear Saidu Garba (rear admiral), chief ofpolicyandplans,saidthat the formation of the task force would be discussed during the scheduled mari-

EDUCATION

time discussion set to hold on May 18, 2023, which is expected to have heads of Navies and other key stakeholders in attendance. The maritime discussion is part of activities to mark the presidential fleet review.

“One of the deliverables of that engagement would be a formation of a task force. Once we form it, it would be conducted among thenationsacrosstheentire Gulf, in which there is information sharing, joint operations at sea; all these will ensure we create a proper architecture that we will use to fight criminalities in our waters”, he said, adding that incidents of piracy have crept up in the last few months.

The naval chief also informed that President Muhammadu Buhari would commence the presidential fleet review from Friday 19 —Monday22May2023inLagos. Gambo said the review is an avenue for the president to assess the navy’s preparedness to meet statutoryobligationsinmaritime security, safety and defence

withinaglobal/regionalcollaborative approach.

The reviews are traditional events, which navies across the world conduct in order to honour their sovereigns or heads of government. It involves the assemblage of ships and other maritime assets at a designated area for the purpose ofdemonstratingloyaltyand allegiance to the state.

During a PFR, the president/head of state is invited to review the fleet in commemoration of a historical event, celebration of important anniversary or any otheractivitydeemednecessary. Some of the occasions to organise a fleet review include special landmarks of either the navy or the country.

According to the naval chief, the high point of the PFR-2023 will be on Monday 22 May 2023. During the event, Buhari is expected to review the navy fleet at anchorage along the Lagos channel and commission two ships (NNS KADA and NNS IBENO) and a recently acquired NN helicopter.

FG, World Bank enrol over 3m girls in schools

By Godsgift Onyedinefu, Abuja

THE Federal Government in partnership with the World Bank has enrolled over three million girls in secondary school, under the Adolescent Girls Initiative for Learning and Empowerment (AGILE).

AGILE is a World Bankassisted project geared toward improving secondary education opportunities for adolescent girls aged between 10 and 20 years. It is currently running in Borno, Ekiti, Kaduna, Kano, Kebbi, Plateau and Katsina states.

Amina Haruna, the national project coordinator of AGILE, speaking in Abuja on Wednesday, during the launch of a campaign programme titled “Madubi,” a Hausa word which means ‘mirror’, said the AGILE initiative has renovated

INSECURITY

over 5,000 classrooms.

She explained that the campaign was targeted at raising awareness for girlchild education in Nigeria as well as demand for accountability on policies, commitments, and officials towards girls’ education.

“The Madubi is a national campaign that we want to advocate more on the outside society to know the importance of girl child education in Nigeria, that is why we adopt this word from Hausa because it is a mirror. That girl in a mirror is you, me and us.

“More than three million have been adopted so far under AGILE project. We have renovated about 5000 class rooms. We are now going on construction, then we have financial incentives where it will allow these girls to retain them to schools.

“We have financial incentives for beneficiaries and care givers also.

Most of the states are going to join the project in June, about eleven states. The present states implementing this are Borno, Ekiti, Kaduna, Kano, Kebbi and Katsina, then Plateau,” she added.

The project coordinator also said that 11 more states will join the AGILE project in Nigeria by June 2023, such as Adamawa, Kogi, Kwara, Niger, Sokoto, Zamfara and others.

Khadiyat Bello, who spoke on behalf of Madubi, said that Nigeria was faced with a gender learning crisis, noting that 60 percent of the out-of-school children in Nigeria are girls and less than 30 percent of primary school girls transition to secondary school.

Unknown gunmen invade PLASU female hostel

By Ayuba Maffi, Bauchi

THE authorities of the Plateau State University (PLASU) have confirmed that some gunmen invaded itsfemalehostelonTuesday in an attempt to kidnap students.

They further said that the institution’s security operatives repelled the attack and that there was no

abduction.

John Agams, the public relations officer of the institution, confirmed the incident to newsmen in Jos.

Agams said that the criminals attacked the institution to kidnap students but they were repelled by thelocalsecuritymeninthe university.

“It is true that gunmen attempted to kidnap some of our students, but the at-

tempt was repelled by our local security men. In the process, one student was injured, but no student was abducted.

“The vice-chancellor, Benard Matur has appealed to the students to be peaceful,” he said.

The police command in the state was yet to comment on the attack on the state university at the time of filing this report.

TAX

FG to engage joint tax board to address multiple taxation

…to revisit Ngozi Okonjo-Iweala’s 2015 taxes, levies amendment

By Hope Moses-Ashike

THE Federal Government, through the ministry of finance has said it would engage the Joint Tax Board (JTB) to address multiple taxation in the country.

This was made known by Basheer Abdulkadir, director tax policy, Federal ministry of finance, budget and national planning, technical services department, during an interview withjournalistsattheongoing 25th annual conference of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja.

He represented Zainab Ahmed, the minister of finance, budget and national planning.

“The issue of multiple taxation is a critical one. And like I said, we want to have the JTB because you knowwehavethisapproved levies and taxes for collection,whichwasapprovedby the then minister of finance andcoordinatingministerof

POLITICS

Oyetola

the economy, Ngozi OkonjoIweala,butIthinktherewas a court judgement that suspendedthat,sowehavetogo back to the drawing board.

“We have to engage like I said,withthejointtaxboard, so that we agree on the taxes that are supposed to be collected by the three tiers of government as against just allowing the sub-national level collect taxes that are alreadyembeddedinfederal taxation, so that we address the issues of multiple taxation, he said.

In June 2020, the Federal High Court in Lagos nullified an amendment to the Taxes and Levies (Approved List for Collection) Act 2004, said to have been made in May 2015 by Ngozi Okonjo-Iweala.

Abdulkadir said taxation was a tool for sustainable economic development, a tool for revenue generation and in line with the integrated national financing framework objectives in mobilising do-

mestic tax revenue for economic and developmental projects in the country.

“We have started by having certain reforms, fiscal reforms in the Nigerian tax space, and this is what we need. As you know, prior to 2016, we did not have a tax policy in the country. So, we revised the national tax policy and in line with the revised national tax policy. We have had the annual finance act to support the annual budgets and this reforms in the fiscal space, which we need to do on a continuous basis for sustainable economic development, and the ministry of finance is key in this and the ministry of Finance, as you can see has demonstrated its support towards this and we will continue to do this,” he said.

The Federal Government of Nigeria had at the endofApril2023introduced new Fiscal Policy Measures (FPM) for 2023 via a circular dated April 20, 2023

POLITICS

19 days to swearing-in, Tinubu jets out to Europe

By Tony Ailemen, Abuja

PRESIDENT-elect Bola Tinubu on Wednesday departed Nigeria for Europe, in what has been described as a “working visit”, and part of final preparations for his assumption of office on May 29

Tinubu’s trip to Europe is thesecondsincetheIndependentNationalElectoralCommission(INEC)declaredhim winnerinthehotlycontested February 25, 2023 presidential election.

It is also coming against thebackdropofthemyriadof challenges, including the ongoing battles at the presidentialelectionpetitiontribunal, sitting in Abuja, as well as, agitations in the ruling All progressive Congress (APC) over zoning of offices, in the next government.

signed by Zainab Ahmed, minister of finance, budget and national planning.

Inthepolicymeasure,additionalexcisetaxesranging from 20 percent to 100 percentonpreviouslyapproved ratesforalcoholicbeverages, tobacco, wines and spirits have been introduced effective from June 1, 2023.

The tax is applicable on mobile telephone services (GSM), fixed telephone and internet services, both postpaid and prepaid at the rate of five percent.

The organised private sector of Nigeria, comprising the Manufacturers Association of Nigeria, the NigerianAssociationofChambersofCommerce,Industry, Mines and Agriculture, the Nigeria Employers’ Consultative Association, the Nigerian Association of Small-Scale Industries, and the Nigerian Association of Small and Medium Enterprises have rejected the recently announced increase in excise tax.

accepts Supreme Court verdict, congratulates Adeleke

… says present situation a win-win for Osun APC

By Olubunmi Oladejo, Osogbo

ADEGBOYEGA Oyetola, the immediate past governor of Osun State, has accepted Tuesday’s ruling of the Supreme Court which upheld the election of Ademola Adeleke as governor of the state.

Oyetola in a statement personally signed by him, saidalthough,theverdictof the apex court was against thewishofhisparty’smembers and supporters, he accepted it in the interest of peace and development of the state.

The former governor urgedmembersofhispolitical party, the All Progres-

sives Congress, (APC), his supporters and those who voted for him during the July 16, 2022 governorship election,toacceptthejudgement as the will of God and move on.

“We strongly believe we presented a good case before the Supreme Court but the court thought otherwise and has given its verdict. While the outcome is against our wish and that of our party members and supporters, we are all bound to accept it as lawabiding citizens.

“To our members and supporters across the state, I urge you all to accept the verdict of the court and

move on. The present situation is a win-win for us. It’s both a loss and victory rolled into one. While we lost Osun technically, we gained Nigeria,” he said.

Oyetola, who asked the APC members and supporters not to feel depressed over the decision of the court, encouraged them to brace up for the tasks ahead of the party. He also appreciated the leadership of the party in the state and at the national level for their commitment and support throughout the period of the legal tussle.

“I remain committed to thegrowthanddevelopment of Osun. I will therefore

Tunde Rahman, head of Tinubu’s Media, Office of thePresident-elect,inastatementonWednesday,saidthe president -elect “will use the opportunityofthetriptofinetune the transition plans and programmes, and his policy options with some of his key aides without unnecessary pressures and distractions”

During the visit, the president-elect will engage with investorsandotherkeyallies with the goal of marketing investment opportunities in the country and his administration’s readiness to enable a business-friendly climate through policies and regulations.

Tunde Rahman disclosed thatmeetingswithmulti-sectoral actors in Europe’s business community including manufacturing, agriculture, tech and energy have been lined up, ahead of the visit.

InTinubu’sdetailedmani-

APPOINTMENT

festo, also known as “contract with Nigerians”, the President-electshowshowhe will pursue a 16-point action plan on national security, economy,agriculture,power, oil & gas, transportation, healthcare, the digital economy, sport, entertainment & culture, youth empowerment & entrepreneurship, womenempowerment,social programs, judicial reforms, federalism/decentralisation of power and foreign policy.

Mindful of the challenges ahead, the President-elect said his government will be committed to permanently securing the safety, freedom andpropertyofallNigerians.

This will be achieved through creating a new Anti-Terrorist Battalions (ABATTS) whose duties will be “to seize the strategic and tactical initiative, giving terrorists, kidnappers and banditsnorespite”;upgradeTactical Communications and Transportation as military units will be better equipped withtacticalcommunication gears and new vehicles to give them a greater mobility advantage over criminals, bandits and terrorists.

Tinubu hopes to convince themofNigeria’sreadinessto dobusinessunderhisleadership through mutually-beneficial partnerships premised on jobs creation and skills acquisition.

He disclosed further that “reviewing the country’s economyformsamajorplank of Tinubu’s Renewed Hope agenda and the meeting is part of his efforts to re-establish Nigeria’s importance in the global economic chain and create empowering opportunities for the country’s huge youth population.

Nosak Group appoints new GCOO

By Damilola Odifa

THE board of directors for Nosak Group has appointed Deji Rahman as group chief operating officer.

positioning and his contributions to implementation of organisational goals.

continue to work with wellmeaning citizens of Osun, associationsandinstitutions to facilitate development to our dear State. Similarly, I urge all citizens of Osun to continue to exhibit the Omoluabi ethos and uphold the dreams of our forebears for the State, irrespective of party affiliations.

“To the Osun governor, SenatorAdemolaNurudeen Jackson Adeleke, I take this opportunity to congratulate you on your victory at the Supreme Court. While I pray for your tenure to be prosperous for our people and the State, I urge you to focus on delivery of good governance.

In his new role, Rahman will be responsible for implementing key business strategies for business growth, optimising operational capabilities, and building a sustainable corporate organisation, according to a statement.

He joined Nosak Group as group head of strategy in 2014. Based on his strategic directives, the group restructured its business, to focus on three strategic sectors, starch and derivatives, oils and fats, and treasury and asset management, where it possessed a competitive edge.

Later in 2022, he was appointed as group chief strategy officer to strengthen the organisation’s strategic position. His new position is owed to his influence on the company’s strategic re-

Prior to joining the Group, Rahman worked as the head of the capital market at Business Times Newspaper (in the Daily Times Group), head, research, Financial Standard Newspaper, head, research and strategy, F & C Securities Limited (now FCSL Asset Management), and coordinator, market research & intelligence in the strategy group, Fidelity Bank plc.

According to the statement, he has led and participated in several strategic and transformation initiatives, including the Fidelity Bank SME project.

He graduated from the University of Lagos with a bachelor’s and master’s degree in economics. He is a member of the Advertising Practitioner Council of Nigeria, the Nigeria Economic Society, and the Nigerian Institute of Public Relations.

L-R:PhilSouthwell,partner,ChapelHillDenham;BolajiBalogun,CEO,ChapelHillDenham;KarlToriola,CEO,MTNNigeria;SaraWerth,deputy missiondirector,USAID/Nigeria;KunleElebute,ex-chairman,KPMGAfrica;KadariaAhmed,journalistandmediaentrepreneur,andLanreBuluro, managing director, Investment Banking, at the Chapel Hill Denham conference on Investing in Development in Lagos.

OPINION

The treachery of Mahmud Yakubu must never be forgotten or forgiven

PDPwontheelectionwith a whopping six million vote margin. But after the results were massaged, tipp-exxed, and tampered with manually, INEC declared Buhari the winner.

By Christopher Akor

MAHMUDYakubu,chairman of the Independent National Electoral Commission (INEC), is not onlyaperniciousliarwith a history of lies as INEC chairman, but he is also a real treacherous human being with weak moral fibreandhasabsolutelyno respect for Nigerians. He must be denied the social respectability that he and all men in his position crave and demand.

After the shambolic 2019electionswhereINEC declared Muhammadu Buhari winner, whistleblowers from the commission let it be known that despite the refusal of the president to sign the electronic transmission of results into law, INEC still went ahead to collate results electronically during the election. According to insider sources, the electronically transmitted results showed that Atiku Abubakar of the

By Philip Agbese

The existence of the server and the results formed the fulcrum of Atiku’s challenge of the electionresultsatthetribunal. AtikuandthePDPwanted INEC to allow them access to the server and the results therein. But INEC denied they ever had such aserver,eventhoughthey were given money to procure one for the election, or uploaded any results electronically. At the Tribunal, INEC’s counsel declared: “They are asking us to bring something we do not have.” But that was a blatant lie. INEC had campaigned to pressuretheNigerianNational Assembly to include electronic transmission of results in the electoral act, arguing that it was the only permanent solution to election rigging and that it had everything in place to make it work. While the National Assembly included it in the electoralactandreassured of its capacity to deliver, President Muhammadu Buhari flatly refused to sign it into law, fearing it would imperil his re-election chances on account

of his deep unpopularity.

So, INEC arguing that they do not have a server was a very blatant and wicked lie. But they had the backing of the law.

signed it into law. INEC even made the point to test-run the method in the Edo, Anambra, Ekiti, and Osun off-season gubernatorial elections.

But the real shocker was the conduct of INEC. Despite repeated promises and reassurances, the results of the presidential elections were not uploaded in real time

Since the electoral act in use did not make provision for electronic transmission of results, and the matter was purely an internal decision of INEC, they could plausibly deny theexistenceoftheserver. With no access to INEC’s server, Atiku and the PDP could not prove a thing at the tribunal and Buhari’s fraudulent re-election stood. To date, however, senior INEC insiders and personnel continue to tell academicresearchersand anyonewhocarestoknow that INEC did electronically transmit the 2019 elections and that Atiku Abubakar won that election squarely based on the results transmitted.

Immediatelyafter,however, INEC resumed its campaign for the legalisation of electronic transmission of results. This time, they succeeded and with nothing to lose since he’stenurebarred,Buhari

With the successes of these elections, Mahmud Yakubu declared that “going forward, INEC would transmit election results electronically,” and it will permanently eliminate rigginginourelections. In thelead-uptothe2023elections and with rumours circulating that INEC planned to rig the elections by abandoning the electronic transmission ofresults,thecommission came out strongly to deny suchrumours,puttingout severalpressreleasesstating that:

“The Commission has repeatedly reassured Nigerians that it will transmit results directly from the polling units as we witnessed in Ekiti and Osun Governorship elections and 103 more constituencieswhereoff-cycle Governorship/FCT Area electionsandbye-elections were held since August 2020…”

At the Royal Institute of International Affairs, (ChathamHouse)London, where all major presidential candidates go to campaign and where important public policy decisionsaffectingNigeriaare unveiled and discussed, Yakubu continued to reassure everyone that the public would be able to view “polling-unit results as soon as they are finalized on Election Day.” He even went triumphantly about the readiness of the commission: “We did so in Ekiti and Osun. It was fantastic and we’re going to do so nationwide. Increasingly, our people are becoming more excited about the deployment of this technology and we’re really happy.”

Then on Election Day, everything went wrong. INEC staff arrived late, not universally, but strategically at opposition strongholds and even so, with insufficient voting materials. Violence, voter intimidation,anddestruction of ballot boxes were rampant being perpetrated sometimes, at the instance of security officials and mainly targeting opposition strongholds and supporters.

But the real shocker was the conduct of INEC. Despite repeated promises and reassurances,

the results of the presidential elections were not uploaded in real time. Curiously though, while pollingunitofficialscould not upload the results of the presidential election, they could upload those of the Senatorial and House of Representatives elections. They claimed not to have the password.

It was only the next day that the results began to be slowly uploaded on the INEC portal. As many suspected,whencompared with the results declared at polling units and which werecapturedbyvoterson theircellphones,theycontainedobviousalterations, with many of the original resultsheetscancelledout with pen and rewritten over again.

Even with that, the numbers are still difficult to reconcile with many painstaking analyses of thesex-upresultsshowing that the ruling party was declared winner even in states where the oppositionwonoverwhelmingly.

Like Chimamanda Adichie argued in her piece, “Nigeria’s Hallow Democracy”, “The election had been not only rigged, but done in such a shoddy, shabby manner that it insulted the intelligence of Nigerians.”

To be continued

Ahmad: Lauding an uncommon trailblazer at REA

Electrification Agency.

THIS is the era of reawakening in Nigeria. The youths have clamored for a generational shift in the country’s governance. The agitation is genuine, and most political parties have systematically keyed into this reawakening. The slogan is rife. The people are prepared, and the manifestation is now.

However, a silent achiever has been in the background, working tirelessly to make a difference in governance. This youthful prodigy is quiet and, most times, camera-shy. He prefers to be under the radar most times as the important thing for him is getting the job done in a mannerthatspeakscreativity and the outside-the-box approach.

Enter the world of Ahmad Salihijo Ahmad, the Chief Executive Officer of the Rural Electrification Agency (REA). Ahmad Salihijo was appointed in 2019 by President Muhammadu Buhari to bring his wealth of experience in the private sector to bear in the Rural

The REA was established to increase electricity access to rural and under-served clusters nationwide by developing off-grid electrification strategies. And Ahamd Salihijo came in handy as a renewable energy expert with two master’s degrees in development studies and project planning.

Since coming on board in 2019, it has been a tale of success stories at the REA. He proved that age was a number and hit the ground running with policies and programs that relate to achieving the strategic mandate of the agency. This much was corroborated by industry stakeholders commending his leadership style and unalloyed commitment towards the agency’s objectives.

For example, one of the ways he has been able to addressthemyriadsofchallenges in rural electrification across the country was through the entrenchment of transparency and accountability in the affairs of the agency. This was a critical move considering the circumstances that led to the ouster of the previous administration of the agency.

Ahmad upon assump-

tion of office, instituted a code of conduct that emphasizedcommitmentanddedication in an atmosphere of transparency and accountability. This strategy paid offasallavenuesforcutting corners were effectively addressed.

For example, in the last few years, the agency has strengthened its engagements with private sector developers and other key stakeholders to deploy offgrid technologies for electrification, especially for productive use and socioeconomic impact in off-grid communities.

According to the youthful CEO, agriculture is one of the key areas looked at. He says, “We understand that once you provide power in agriculture, you naturally empower people to go into farming, enhancing their livelihoods. This is why beyond providing power in off-grid communities, we equally dedicate time and resources towards the productive use of energy (PUE).”

This strategy paid off with $20 million in support from the African Development Bank to invest in productive-use equipment and models in off-grid communities under the Nigeria Electrification Project

(NEP) framework.

Under his watch, the REA agency is implementing the Energizing Agriculture Programme (EAP) designed to boost GDP, accelerate renewable energy use and unlock agricultural productivity in Nigeria.

The EAP is a 3-year initiative activated in 2022 with support from the Rocky Mountain Institute (RMI), the Global Energy Alliance on People and Planet (GEAPP), and the Rockefeller Foundation, designed to enable market-led solutions while breaking the silos separating electrification and agricultural development.

An excellent example of the successes recorded under this initiative is the Olooji community, Ogun State, where a 100kWp solar hybrid mini-grid was installed. Olooji is a community that has existed for about 200 years but received energy infrastructure for the first time in 2021 through REA’s intervention.

Under the Energizing Education Programme (EEP), REA has completed projects in seven universities. The World Bank and the African Development Bank have equally committed to funding phases II and

III of the EEP, respectively. These didn’t happen overnight. We must agree that it was a function of the demonstration of leadership by the REA under the watch of Ahmad Salihijo Ahmad.

The country needs leadership to address its socioeconomic challenges, and Ahmed has provided us with an excellent example of that leadership model that public officeholders should emulate.

Those in contact with him would attest that he is a very passionate individual who has demonstrated capacity and competence in discharging his duties. He has successfully changed the narrative that the youths are unprepared for leadership.

Little wonder that the REA delivered over 95% of the NEP impact between 2020 and 2022. The NEP-SHS componentisoneofthefastest-growing components being implemented by the agency.Theseprojectshave

Agbese is a member-elect, Federal House of Representatives and wrote this piece from Abuja.

also catalyzed socio-economic activities across the beneficiary communities. The NEP program, now an exemplary off-grid model in sub-Saharan Africa, has achieved about 6.7 million connections, impacting nearly 10 million Nigerians in rural communities nationwide.

The commendations have been in good supply. Industry stakeholders have described him as a messiah who, through hard work, has improved access to electricity in rural areas. He was able to dismantle the obstacles holding rural electrification across the country. Some in the know of the operations of the REA hinted that the Managing Director has consistently emphasized transparency and accountability since coming on board.

There are many lessons to learn from the leadership strides of this pathfinder. One is that the youths are ready for leadership, and twoisthattherewillalways beawayoncethereisawill.

Ahmad Salihijo has demonstrated renewed hope for youths in the country. He is a trailblazer and no doubt a lesson in leadership. This is a thumbs up for the youths. I salute his courage and consistency.

LEADERSHIP SHEPHERD WITH BABS

Boosting economic growth in Nigeria through logistics

By Babs Olugbemi

INITIALLY, I wanted to advise Yusuf Datti BabaAhmed that his freedom of speech is not his freedom from the consequences of his remarks. I decided to expand the scope of my advice to all the election agitators to allow Nigeria’s electoral process to take its course.

Datti went overboard by making some divisive comments on national television, stating that swearing in Tinubu would be unconstitutional. His remarks were interpreted as a coup amidst calls for an interimfederalgovernment to replace our democracy.

Though I have questioned theimpactsandtheextravagance of our democracy, I have never considered having the military back to power in Nigeria. Throughout history, the military government destroyed Nigeria’s peace and unity, contributing to the gross inequality, highhandedness, and entitlement of some regions. Nigeria’s unity is a negotiated process, but the military with their guns turned it into a forced marriage where some people became more entitled and dominant to power even without the capacity to benefit their people.

YusufDatticannotknow the game of pursuing the presidencymorethanAtiku Abubakar, who holds the records of the most contestedaspirantandthemost returned unelected in Nigeria. Yet, Atiku, in his experience, is detailed and knowledgeable enough to limit himself and his utterance, unlike the novice Datti. In my opinion, Datti is among the selfish and opportunistic Nigerians whose ambition is ahead of the collective welfare of the poor masses. I will justify my assertion soon.

So, for not being elected the VP, Datti wanted to return the entire Nigerian people to the era of unconstitutional government. He wants to take us back to June 12, when people fled their primary place of residence and business for safety and back to the East. Has Datti considered the impact of destabilising the government on the people? Withanunexpectedchange, a change because the personal aspiration of Peter Obi and Ahmed Datti is not realised, we will be in more trouble,andtheclamourfor a divided Nigeria will be on the increase.

Instead of allowing the process and their challenge of the APC victory to follow the outlined pattern, people like Ahmed making utterances to disrupt the democratic process are nothing but a bunch of selfcentred individuals lucky to be in the public space and seeking political power and relevance by all means including with the peace and blood of the innocent Nigerians.

Where was Ahmed Datti during the End-SAR movement? What was the role of Peter Obi and Ahmed Datti in the campaign and the call to stop police brutality? What people-oriented action have they participated

terance. Ahmed, leave the work for the lawyers to do. Your freedom of speech doesn’tguaranteeyourfreedom from the consequences of speech.

To all Nigerians, this is not the time to follow leaders whose interests are for them. They can fly their family out of the country if there is any unrest. If we check it out, they have houses outside the country and are ready to leave once you are forced into the commotion they have planned.

Whether you are with the election’s outcome or not, please let the process stipulated in the Constitution be followed. Constitutional provisions guide the

For not being elected the VP, Datti wanted to return the entire Nigerian people to the era of unconstitutional government

in and influenced before theiradoptionastheLabour Party as flag bearers?

Undoubtedly,PeterObi’s message and rhetoric succeeded in the election. He has lived a simple life, and his messages were connected to the suffering majority but to me, he is not the beautiful one. He is part and parcel of the group of politicians that are the leading disaster we have in Nigeria. If you judge leadershipbytheoutcome,theoutcome of Nigeria’s political leadership, a country with vast human and natural resources is more than a disaster.Checkthelistofall the leaders who have ruled Nigeria,comparethemwith the state of affairs in our country, and you will see a team of people worse than a natural disaster.

So for Ahmed Datti to make inciting statements to stop the swearing-in of elected public officers is unfathomableandtreasonable.Hehadfacedhisprivate businesses and made notable contributions to society before the Labour Party adopted him. He was never partofanynationalstruggle against the government in thepast.Still,hewascalling foranarchybecausehispersonal interest in being the country’svicepresidenthad beenshattered.Iamsurehe must have been cautioned to retrain from putting his interest above the collective peace of the country through his refrained ut-

By Adebayo Adeleke

“LOGISTICS are the lifebloodofinternationaltrade, and trade, in turn, is a powerful force for economic growth and poverty reduction.”Thosewerethewords of Mona Hadad, Global Director for Trade, Investment, and Competitiveness at the World Bank, in the World Bank’s Logistics Performance Index (LPI) 2023 Report.

trade enhances investment, technology transfer, and job creation. In this article, I’d like to share some ways Nigeria can improve its logistics, and ramp up the favorability of its economic fortunes.

1. Extensive road infrastructure

and trucks, inadequate port facilities and berths, flawed integrated ports transport system, insecurity on the waterways,lackofstandard ports facilities, amongst many others.

Olugbemi FCCA, is the Chief Vision Officer at Mentoras Leadership Limited and Founder, Positive Growth Africa. He can be reached on babs@ babsolugbemi.org or 08025489396 or on Twitter @successbabs.

conduct of the elections’ tribunals. We should be calm andallowlawyersthathave been paid to prove their clients’ cases. We should, for once, trust the judicial process and avert violence, as an option that is not only unconstitutional but destructive to the innocent Nigerians not covered by the political impunity and immunity available for the affluence and the political class.

Records show that the president-elect fought the military and was part of NADECO. He has traceable contributions to the good and mess we are in today. We should give him a chance to either clean the mess or mess us up further. OnethingIamsureofisthat no administration will perform below the outgoing administration. We are at the lowestebbs,anditcannotbe worse than this, even with a lunatic person in power. We have seen a situation of over-promising and grossly underperforming, except for the railway system and the road infrastructure that had yet suffered Nigerians more than the anticipated benefits. With this in mind, theleastanyonecoulddofor Nigeria is to wish the next administration is resolved, determined and purposeful enoughtomakeadifference. In the process, I will charge all political agitators to be mindful of their utterances as their freedom of speech has no guarantee and preventionagainstthemfacing the consequences of their freedomofspeech.Ifyouuse your mouth to call for the disruption of Nigeria, the law will disrupt you before youcausehavocformillions of innocent people. Therearelimitsandconsequences to all freedom. Therefore your freedom of speech is without shield from the consequences. All troublemakers shall be made to account for their reckless statements.

The LPI Report, which covers 139 countries, measures the ease of establishing reliable supply chains within a country and the structuralfactorsthatmake it possible, such as the quality of logistics services, trade and transport-related infrastructure, and border controls.

In this year’s Logistics Performance Report, India stood out as one of the biggest global supply chain winners. Over the past five years, the country jumped six places from 44th in 2018 to 38th in 2023. The World Bank has recognized India’s improvements in infrastructure, international shipments, logistics competence, and supply chain modernization and digitization efforts, amongst many others. The report highlights that the average time for containers to be stored in India and Singapore was three days, as opposed to the seven and ten days container dwell time in the UnitedStatesandGermany, respectively.

While many developing countries, like India, were noted to have made significantprogressintheir homeland supply chain efforts, the same cannot be said of Nigeria, Africa’s largest economy. Nigeria had a subpar LPI score of 2.6 points out of 5, and was ranked 88th out of the 139 countries surveyed, placing lower than many peer AfricancountrieslikeSouth Africa, Botswana, Egypt, Benin Republic, Djibouti, Namibia, and Rwanda.

In my discussion with Ladi Williams on Channels TV, I shared my view that Nigeria ought to have scored lower and gotten fewer points because of the myriadofexistentialsupply chain challenges that are prevalent in the country. Of course, I want Nigeria to performbetterintheareaof trade, logistics, and supply chain, but we have to call a spade a spade. There’s still so much to be done as the report suggests. Efficient and smooth trade flows is one of the pathways to poverty reduction in Nigeria because

Transport systems are fundamentaltotheoutcome of national economic input. While high transport costs can cause spatial disparities in economic activity by impeding access to isolatedregions,investmentin transportinfrastructurecan shorten regional inequality and improve national economic growth prospects by facilitating trade. The US Interstate Highway System andtheGoldenQuadrilateral Highway System in India are just two of the ways in which countries have used seamless transport infrastructure to augment national economic prosperity.

The quality of the country’sroadnetworkscouldbe betterforNigeria.Whilethe World Bank confirms that thereare160,000Kmofstate and rural roads in Nigeria, the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, clarifies that 135,000 Km of road networks in Nigeria are untarred. Nigeria’s President, Muhammadu Buhari, has confirmed that Nigeria needs $1.5 trillion tofixitsroadinfrastructure deficit over the next ten years.

Let me emphasize that Nigeria must invest strategically in interconnected road networks to boost trade and smooth logistics processes. For this purpose, interlinking roads, corridors, flyovers, and roads in tandem with urban and regional planning purposesarenecessary.The government must tackle the challenges associated with road construction and development in Nigeria. Some institutional barriers to road development in Nigeria include corruption in awarding road contracts, lackofcontractmonitoring, and inefficient governance, amongst many others.

2.Smoothandintegrated ports systems Nigeriaremainsbesetby long-running seaport cargo challenges which threaten torunthecountry’slogistics and trade base aground. An overview of these challenges includes poor digitalization of port operations,portcongestions,high container dwell time, high turnaround time of vessels

The trade frictions associated with port operations in Nigeria have undoubtedly led to a decline in the number of vessels calling at ports in Nigeria, as opposed to those calling at the ports of neighbouring countries. Nigerian ports have been describedasthemostexpensive and inefficient ports in the West and Central Africa sub-region.

Specific reforms will have to be carried out to improve the handling capacity of many ports across Nigeria.

These include rehabilitating dilapidated port access roads, ending port congestion and perennial traffic gridlock on the port access road through enforcing an Electronic Call-up system, installing navigational buoys, and acquiring tugboats to help eliminate vessels’ delays and improve ports efficiency.

3.High-endwarehousing capacity

Warehouses are central to the smooth flow of trade processes. Through toplevel warehouse capacity, inventories can be stocked, repackaged, and transported across various transit points.

InJuly2022,theNigerian Export Promotion Council (NEPC) licensed four new DomesticExportWarehouses (DEWs) to fast-track the timely delivery of non-oil exports from Nigeria and bolster Nigeria’s trade competitiveness. The DEWs were to serve as a one-stop transit facility/terminal where pre-shipment activitieslikepackaging,labeling, aggregation, and pre-shipment inspection on non-oil exports are carried out in preparation for transportation and eventual shipment atrespectiveexportdestinations.

Introducing DEWs into the Nigerian logistics is a good step in the right direction and the Nigerian supplychainindustrystakeholders must double down on this initiative. Through well-catered warehouses, Nigeria’s trade position can receive a boost, and the country’s logistics sector can begin to perform more optimally.

Conclusion

The World Bank LPI Index 2023 disapproves of Nigeria’s trade processes. However, all hope is not lost in the prospects of the Nigerian logistics. Through comprehensive investment in key infrastructural inputs like interlinked road networks, smoother port systems,andhigh-endwarehousing structures, Nigeria’s supply chain industry can veer off decadence and become high-performing and efficient.

To election agitators; freedom of speech is not freedom from consequences

Adeleke, a supply chain and security expert, writes from the diaspora

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ContendingthescourgeofwatershortageinNigeriaandbeyond

GLOBALLY, over 2 billion peopleliveinwater-stressed nations with limited access to water and basic sanitation services. Of this number, over 40 percent live in sub-Saharan Africa (SSA).

However, the United Nations clearly certifies the human right to water and sanitation, noting everyone has the right to sufficient, continuous,safe,acceptable, physically accessible and affordable water for personal and domestic use. Meanwhile, the African world viewalsoatteststotheindispensability of water as it relatestoday-to-dayexistence. Therefore, improved water supply and sanitation are important for public health.

InSSA,morethanaquarter of the population spends over half an hour per trip to collect water. Also, inadequate access to safe toilets causes people to defecate in the open, exposing food and water sources to human waste. Reports show that a quarter of those defecating openly worldwide, live in SSA, Nigeria in particular.

In an article on water and hygiene by Chimezie Anyakora and Ofure Odibeli, various factors contribute to the water crisis in Africa. However, the major drivers include population growth and rural-urban migration, poverty, natural disasters, and increased pollution. The increasing demand for water in Africa

poses a significant burden on the limited water resources. SSA has the highest prevalence of urban slums in the world, which are breeding grounds for infectious diseases.

Poverty is also a major barrier to access to water and sanitation, and SSA is the poorest and least developed region in the world. Deep and widespread povertyacrossAfricalimitsthe effectiveness and sustainabilityofpublichealthinterventions to improve water and sanitation services.

Even where the best water coverage exists, 1 in 4 people still lack adequate sanitation. The challenges ofwatershortagesandpoor sanitation are particularly dire in rural communities, wherefundingforestablishinggoodwaterandsanitary facilitiesisalsoinadequate.

Often, external and domestic funding is mainly spent in urban areas while rural communities lag behind. This poor access to water and sanitation has tremendous negative consequences on the public health of the African populace.

Water shortages, contaminated water and poor sanitation are interrelated and linked to the spread of diseases such as cholera, diarrhoea, dysentery, and typhoid. 73 percent of the diarrhoeal and enteric disease burden in Africa is linked to poor access to

Also, in places where water supply is not readily available, people often ignore the practice of regular hand washing, which can further increase the risk of infectious diseases

adequatewater,sanitation and hygiene (WASH), with the greater proportion occurringinpoorerchildren. Reports show that 115 people in Africa die every hour from diseases linked to poor water and sanitary conditions.

Also, in places where water supply is not readily available, people often ignorethepracticeofregular hand washing, which can furtherincreasetheriskof infectious diseases.

Facing probably the highestpreventablehealth risk are patients and healthcare workers who are at risk of infection and disease in health facilities where there are inadequate WASH services.

Also, globally, 15 percent of patients develop an infection during a hospital stay, with the proportion

being much greater in lowincome countries.

Addressing the water and sanitation crisis in Africa is crucial to building healthy societies. To achievethis,thereisaneed for regional and national collaborationbetweengovernments, private sector organisations,non-governmental organisations and other stakeholders in the public health sector. For sustainable implementation of public health interventions, the following strategiesmustbeadopted:

Increased investments to finance public health interventions: A recent report stated that achieving universal safe drinking water, sanitation, and hygiene in SSA will cost $35 billion per annum. Effortstoachievesustainable transformation are therefore expensive and require a pooled investment from various stakeholders. Investment efforts should also concentrate more on rural communities with the most pressing needs.

Adoption of smart technologiesforwatermanagement: The African Union High Level Panel on Innovation and Emerging Technologies(APET)urges African countries to leverage on smart technologies to address their WASH challenges. Smart water management systems can incorporate sensors, moni-

tors, geographic information systems (GIS), satellite mapping, and other data sharing tools, which can help to monitor water quality,waterquantity,efficient irrigation, leak detection, floods, droughts, etc.

Strengthening water and sanitation services in healthcare facilities, particularly in rural communities: This will increase access to safe and quality healthcare in rural areas which is crucial to implementing primary health care and reduce the risk of hospital-acquired infectious diseases both for patients and health workers.

Establishment of community-basedandpublicly supported programmes that promote behavioural change and education is crucial to improving public adoption of safe and hygienic practices.

Given the dire consequences of water shortages and poor hygiene on publichealth,Africangovernments must rise to the challenge of addressing poor water and sanitary conditions as a crucial pathway to achieving universal health coverage. Ultimately, for these objectives to be achieved, much will depend on the political will and vision of the various status quo forces across the African continent.

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Transcorp: Committed to optimising existing assets for high returns

By Iheanyi Nwachukwu

TRANSNATIONAL Corporation Plc (Transcorp) is Nigeria’s largest listed conglomerate. Transcorp, which has nearly 300,000 shareholders recently held its 17th Annual General Meeting (AGM) where it got shareholders’ approval to pay a dividend of 5kobo per share, a 150percent increase over the previous year’s dividend. The share price of Transcorp had reached a 52-week high of N3.24kobo on increased demand by investors as against a 52-week low of 0.98kobo. It traded at N1.78 per share as at Monday May 8.

Recently in its analysts’ presentation for first-quarter (Q1) of 2023, Transcorp said “Ouroverallstrategicobjective is to fully optimise our existing assetstoensureweconsistently deliver value and high returns to our stakeholders. In 2023, our key priority is to achieve our set targets for the year across the various operating segments. As a Group, we will remain resolute as we execute ourstrategicprioritiesin2023”.

Snapshotof2022financial performance

Transcorp portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors. Its businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Aura by Transcorp Hotels, Transcorp Power, Transafam Power, and Transcorp Energy. TheCompany’spowerbusiness increased its available and generatedcapacityfrom598MW and 373MW, to 720MW and 426MW, respectively, following significant investment and rehabilitation of its generating assets.

The Group’s gross earnings increased to N134.721billion in 2022, from N111.219billion in 2021, up by 21.13percent.

Gross profit increased to N66.421billion in 2023, from N54.779billion in 2021, up by 21.25percent. Profit Before Tax (PBT) was also up by 8.14percent, to N30.276billion from N27.998billion in 2021.

Though, Profit After Tax printed lower by 29.34percent to N16.839billion, from a high of N23.831billion in 2021. Transcorp continued to deliver on its year-on-year growth strategy, with a 6.4percent increase in the Group’s total assets, growing to N442.7billion in 2022.

The Group’s total equity went up by 1.2percent to N157billion. The Group which has 33percent female board representation intends to continue be innovative and leverage technology to improve customer experience in its hospitality business.

Key drivers of the conglomerate’sgrowth

On innovation and digitalisation, Transcorp management told analysts during the group’s Q1 presentation that the group willcontinuebeingafocalpoint for improving its customer experience. “We will continue to leverage innovation and digitalisation to generate demand, improve guest engagement and loyalty,”

On leveraging digital platform to accelerate growth, they said, “To remain competitive and in response to emerging trends and customer preferences, we have upgraded and relaunched our hospitality tech platform– “Aura by TranscorpHotels”. Through Aura by Transcorp Hotels we will continue to leverage the poweroftechnologytofasttrack growth of the accommodation and leisure segments of our business”.

Speaking on cost optimisation, the management of Transcorp said, “This would continue to be a top

priority, taking advantage of our robust financial management processes and procedures whilst still focused on delivering superior services to our customers,”

On asset optimisation, Transcorp noted that it will continuously identify opportunities to fully optimise its existing assets “via expansion into new business area and upgrade of existing facilities to improve customer experience to ensure we deliver superior returns to our stakeholders.”

Transcorp hospitality business demonstrated its growthtrajectoryin2022

After achieving a record average occupancy rate of 79percent in 2022, Transcorp

hospitality business demonstrated its growth trajectorywithprofitincreasing by 172percent to N4.5 billion in 2022, from N1.7 billion in the previous year, while revenue grew by 47percent to N31.4 billion, from N21.4 billion in 2021. Profit after tax for the Group declined from N23.8 billion to N16.8 billion, as a result of the provision of N7 billion for deferred tax and exceptional income of N4.5 billion recognised in 2021, derived from the consolidation of Transafam Power Limited.

Whatthestakeholderssaid

Tony O. Elumelu, group chairman,Transcorpsaid,“2022 provedtobeanotherstrongyear for Transcorp, we continued to optimise and expand our portfolio of investments, amidst a challenging operating and economic environment. The impact of our long-term investment approach is beginning to be appreciated by the market, with a growth in share price from N0.96 in January 2022 to N2.50 as at close of market yesterday, April 25, 2023.Andwecontinuetodeliver to investors, with a dividend of N2 billion being paid to shareholders, representing a 150percent increase over the 2021 payment.”

Year 2022 became the 5th consecutive year of unbroken dividends payment by Transcorp, since the Elumelu

led team assumed leadership of the conglomerate. Prior to the change in ownership and management in 2011, Transcorp had operated since inception without dividends to its shareholders.

Owen Omogiafo, president of Transcorp Group stated that the Group’s success is attributable to its focus on key sectors of the economy, its commitment to investment and its ability to drive execution. “Wearestrategicallypositioned and committed to enhanced performance, providing value adding returns for all stakeholders, and making a positive societal impact. As we move forward, we remain fully dedicated and focused on realising this vision. With the relentless efforts of our team, we are poised to achieve remarkable growth and success for years to come,” she said.

Shareholders at the annual general meeting lauded the company’s professionalism and commitment to growing value for shareholders, stressing that the fully virtual AGM was one of the many firsts Transcorp has achieved.

Transcorp’s commitment to social responsibility was also highlighted at the AGM. The Group has continued to contribute to Nigeria’s sustainable development, particularly in the areas of education, community development, and environmental sustainability.

As a responsible corporate citizen, Transcorp embraces Environmental, Social, and Governance (ESG) criteria in all aspects of its business dealings and investment decisions. Transcorp said it remains unwavering in its commitment to sustainable growth, ensuring consistency and an efficient organisation driven by a mission to deliver long-term value.

Shareholders are impressed

“We are very happy with the Board and Management of Transcorp. They promised us that as the Company grows, value for shareholders will grow. Today we have seen our dividend, that has increased by 500percent under the Elumelu leadership and our share price has also appreciated. We also want to commend the professionalism of the Board for deciding to hold the AGM virtually, making it easier for us to join and make all of us to be more informed,” said Faruk Umar of Advancement of ShareholderRightsAssociation.

To remain competitive and in response to emerging trends and customer preferences, we have upgraded and relaunched our hospitality tech platform

Owen Omogiafo, presiden,Transcorp Group

COMPANIES & MARKETS

Lower sales, high expenses push UACN to first loss in six years

By Folake Balogun

UAC of Nigeria has declared its first loss after taxinsixyearsduetopressures from lower sales and higheroperatingexpenses.

Data sourced from the firm’s financials showed UACN reported N1.16 billion loss after tax in the three months of 2023 compared to a profit of N638.75 million in the corresponding period of 2022.

FindingsshowedUACN recordedan11percentdrop inrevenuetoN24.62billion from N27.67 billion in the first three months of 2022, on the back of a challengingoperatingenvironment during the period.

The firm’s 11 percent drop in revenue was a result of lower volumes from the cash crunch, which led to animal feeds (-10.2%), packaged foods and beverages (-17.3%) and paint (-14.7%) segments.

UAC of Nigeria’s operating expenses amounted to N4.16 billion in the first quarter of 2023, up 13.4 percent from N3.67 billion in

the first quarter of 2022.

Selling and distribution expenses stood at N1.97 billion in the first quarter of 2023, 13 percent increase from N1.74 billion in the samequarterofthepreceding year.

The firm’s administrative expenses amounted to N2.19 billion in the first

quarterof2023,13.5percent increase from N1.93 billion in the same period of the previous year.

The firm’s gross profit dropped 35.4 percent to N3.28 billion from N5.08 billion in the comparable periods.

Consequently, gross profit margin amounted

Stransact Partners task incoming govt on holistic tax reforms

By Charles Ogwo

STRANSACT Chartered Accountants, a correspondent firm of the RSM network has charged the new governments both at the federal, and state levels to embrace a holistic tax reform approach to growing the country’s economy.

Eben Joels, general partner at Stransact speaking during a media briefing with a theme: “Reforming Nigeria’s Tax Environment for Economic Growth, Opportunities for the Government” said the new governments should strive to renew the hopes of Nigerians through a holistic tax reform.

“The private sector is the engine room that drives businesses, hence, government should concern itself with regulating and not doing business,” he said.

Joel reiterated that the incoming governments have a lot of reforms to do to get the country’s economy on the growing path once again.

He explained that widening the tax rate by ensuring that more of the rich people cum firms are held tax-accountable rather than increasing

the tax rate will help the country achieve rapid economic growth.

“Tax bracket is the main foundation of an ideal tax reform. The best thing to do is to focus on gettingthe bracket, otherwise, it will have negative effects,” he said.

According to the finance expert, “Tax reforms should be made to eliminate unnecessary taxes. Nigeria is one of the countries with the highest income tax chargesintheworld.This makes it difficult for good businesses to operate.”

In addition, he said “The Federal Inland Revenue Service (FIRS) should make tax payment complaints easier. It should not erode the taxpayers’ rights under thelawsuchtaxpro-max.”

Joel emphasised that the automated end-to-end processing function of technological innovation inthetaxingsystemofthe country must be tailored to suit the law of the land justasisfoundintheFIRS pro-max.

He counselled the new government at the federal level not to use independent consultants in carrying out the duties of the FIRS, because it is a dan-

gerous approach which is not healthy for corporate citizens.

“Don’t harass taxpayers with independent tax agents. It is a dangerous thing for a firm to open its books to just anybody in the name of a tax agent,” he noted.

Abayomi Salawu, a partner at Stransact also buttressed the views of Joels by saying that state governments should focus on developing their states to attract more business communities and wealthy individuals who will in turn pay taxes rather than strangling the residents with high and multiple taxes.

“States should focus on developing the quality of lives of the residents. Basic infrastructure is key to generating more revenues through taxes and not increasing the tax rate,” Salawu noted.

The partners called on Nigerians to begin to ask their leaders at various levels for accountability in service. They asked the incoming president and governors to set precedence by personally volunteering to relinquish theirtaxexceptionsunder the law.

operating loss of N700.26 million in the first three months of 2023 from an operating profit of N1.87 billion in the first three months of 2022.

UAC of Nigeria said in its earning release statement that the operating loss was impacted by N832 millionoperatinglossfrom the animal feeds and other ediblessegment,constraining demand as customers prioritised essential spending because of cash shortages.

Similarly, the firm also reporteddisruptionintradinganddistributionduring thegeneralelectionsinFebruary2023whichimpacted operating loss in the first quarter.

edoperatinglossesandloss before tax of N3.1 billion and N3.3 billion respectively. Although still challenging, these improved to N700 million and N937 million in Q1 2023.

“The performance this quarter would have been stronger but for challenging macro-economic and sociopolitical challenges. Factors that adversely impacted performance were cash shortages and lost trading days on account of elections.

“Quarter on Quarter improvement was on account ofimprovedperformancein ouranimalfeedsbusinesses and our packaged food and beveragesbusiness,”hesaid.

to 13.3 percent in the first quarter of 2023, 500 basis points decrease from 18.3 percent in the first quarter of 2022.

UACofNigeriasaidina note that the gross margin compressed was impacted by lower sales and rising costs, particularly power.

The firm recorded an

In Q1 2022, the firm said the holding company recognized a one-off gain on disposal of non-core property (N386 million) which impacted year-on-year comparison and led to an operating loss.

Commenting on the results, Fola Aiyesimoju, group managing director said“InQ42022,werecord-

Thefirm’scashandcash equivalentsattheendofthe period amounted to N13.42 billion in the first quarter of 2023, indicating a 6.3 percent increase from N12.63 billion in the first quarter of 2022.

UACofNigeriarecorded a loss per share of 29 kobo per share from 18 kobo per share in the comparable periods.

Firms partner to offer scholarships in financial modeling to Africa

By David Ijaseun

ONE of Nigeria’s leading data consulting and financial training firms, dbrownconsulting and the Financial Modeling Institute (Canada) has announced a scholarship programme that offers up to 95 percent discount on trainingandaccreditation examinations in financial modeling.

In a statement seen by BusinessDay,thefirmsalso announced the launch of Africa’s premier Financial Modeling Academy (FMA) through which it would be providing up to 95 percent scholarship on financial training and accreditation examinations for African residents and students.

David Brown, founder and chief executive officer of brownconsulting described the initative as a game-changer poised to transformthelivesofAfrican professionals’ career.

“Through our financial modeling academy, we are delighted to offer candidates access to the Financial Modeling Institute’s curriculum and examinations that will provide Africans with the highest quality financial modeling training,”

“This will be a gamechanger for the financial

modeling industry in Africaandenableprofessionals to stay competitive in an increasingly complex business environment,” Brown said.

The Financial Modeling Academy provides an eight-week online programme for students and career professionals in accounting, corporate/commercial banking, private debt, investment banking, and private equity amongst others.

The partners disclosed that the immersive training will give enrollees access to weekly modules and live question-andanswer sessions with certified financial modellers.

“As an important technical skill required for financial forecasting to analyse a company’s financial position or assess an asset’s potential, the programmeequipsparticipants with the necessary skills to excel as worldclass financial modelers.

Delivered at a moderate pace with one training module per week, the programme will provide participants with enough flexibility to properly acquaintthemselveswithall trainingmaterials,receive timely support from the facilitators, access to an exam guide and free mock

examtohelpthemprepare and provide access to the dbrownconsulting and FMI communities.

“At the end of the programme, each participant will take the Advanced Financial Modeler Certificate exam designed by the FMI to earn the designation of an Advanced Financial Modeler upon successful results,” the statement read in part.

Eligibility for the student scholarship requires applicants to be enrolled inanacademicinstitution, preferably as an undergraduate or as a student ofaprofessionalorganisation, such as the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Financial Analyst (CFA), and Association of Chartered Certified Accountants (ACCA).

Student enrollees, with relevant identification, at the FMA will be eligible to pay $150 (about N69,075.00), a 95 percent discount from the original fee of $2,841(about N1,308,280.50).

Fornon-studentprofessionalswhowanttoaccess the FMA 88 percent scholarship for this category, applicants must be a citizen and residents of any of 54 African countries, excluding South Africa.

Stanbic IBTC canvases equal resources for women in technology

By Eniola Olatunji

STANBIC IBTC has made a case for women in technology, to be given equal resources to maximise their full potential.

Benedicta Nwagwu, acting lead innovation, digital involvement and analytics Stanbic IBTC, emphasised the importance of equity, at Stanbic IBTC “Women in Tech Webinar, themed ‘Embrace Equity: Building digital skills for life” on May 6, 2023.

“Itisimportanttoprovideresourcesequallyso everyone can maximise their full potential and achieve an equal outcome,” Nwagwu said.

Female tech entrepreneurs encourage more participation of women in technology to create better policies and drive innovation.

“More women are needed in tech for more innovation and better policy making,” Adora Nwobodo, software engineer at Microsoft said. She spoke about how

diversity in the tech industry can lead to building more inclusive and better products.

“The tech industry is adynamicandfast-growing sector that plays a crucial role in shaping our world. However, it faces a significant diversity challenge, with the underrepresentation of women, minorities, and marginalized groups,” she said.

Nwobodo pointed out that studies show that diverse teams lead to better problem-solving and innovation in tech companies.

“Diverseperspectives and experiences bring fresh ideas and insights, fostering creativity and driving more inclusive technologicalsolutions,” she said.

She said that embracing diversity in the tech industry is not only a matter of fairness and equality but also a strategic advantage for companiesseekinglong-term success.

Folake Owodunni, co-founder Emergency

Response Africa while speaking on the difference between equity and equality said that equity is providing a level playing field for people from different platforms to maximize their talent.

“Equity recognizes that people are not starting from the same level and provides resources to help them reach an equal outcome, it is about creating an equal level field,” she said.

Also, Teju Adeyinka, product designer at Ox Labs during the panelist session mentioned some of the unique problems women face in the workplace.

“Women face unconscious biases when applying for jobs, they also deal with unequal pay and self-elimination,” she said.

The speakers during the webinar encouraged women to take on more tech roles and be problem solvers, they also provided different resourcesfornewentrants that can be of help to them.

Firm rebrands, promises customer satisfaction

By Abubakar Ibrahim

MKH Group has said that one of its subsidiary companies — MKH Investment Limited had changeditsnametoMKH PropertiesLimited.

In a statement, the firm stated that the change took effect on May 1.

The chairman and ceo of MKH Properties, Muibi Hammed said, “This change of our company’s name will allow us to present ourselves as Nigeria’s

most innovative and trusted real estate and propertysolutionscompany. Our commitment willremainourhighest priorityforourcustomers and partners across West Africa.”

He noted that the change of name would not alter the company’s financials, legalities, and related documentation except for its name.

MKH’s Group Managing Director, Idowu Olukunle, said, “As a subsidiary brand of

the real estate sector, we are streamlining our focus on providing customers/prospects with ideal exposure to the company’s operation and value proposition. Over the next few weeks, we look forward to rolling out our rebranded collateral, including our product catalogues, presentations and several others, with our email addresses and corporate website address to be updated to reflect our new company name.”

L-R:YedunniAdenuga, director, narcotics and controlled substances, NationalAgency for Food and Drug AdministrationandControl(NAFDAC);ChinyereOguala, brewerymanager,NigerianBreweriesplc,IjebuOde;PatrickAnegbe,MD/CEO,IntercontinentalDistillersLimited;MojisolaAdeyeye,director-general,NAFDAC; Victoria Egbase, director, planning research and statistics, National Drug Law EnforcementAgency (NDLEA); Sade Morgan, corporate affairs director, Nigerian Breweries plc, and Roselyn Ajayi, director, NAFDAC, South West, at the commissioning of NAFDAC New Office Complex inAbeokuta, Ogun State.

L-R: Nicole Chikwe, beauty and wellness enthusiast; Adesuwa Onyenokwe, founder and editor-in-chief, Today’s Woman Magazine; Demola Sogunle, chief executive, Stanbic IBTC Bank; Hadiza Garbati, director,KabaraCommunityDevelopmentInitiative,andBunmiDayo-Olagunju,executivedirector,operations, Stanbic IBTC Bank, at the launch of the Blue Blossom Community in Lagos, recently.

L-R: Tokunbo Ibrahim, government relations manager, Glovo Sub-Saharan Africa; Oscar Pierre, CEO/ co-founder, Glovo; LamideAkionla, head of Q-commerce, Glovo Sub-SaharanAfrica and Lorenzo Mayol, general manager, Glovo Nigeria, at the ribbon-cutting ceremony of its new MFC in Lagos recently.

L-R: Jude Chiemeka, divisional head, capital markets, Nigerian Exchange Limited;Akeem Oyewale, chief executive officer, Marble Capital Limited; Dayo Obisan, executive commissioner, operations, Securities and Exchange Commission (SEC), and Hafsat Rufai, head, operations, Lagos zonal office, SEC, during official launch of Marble Halal Commodities Fund in Lagos.

L-R: Onyenwechukwu Ezeagu, past chairman, Association of Securities Dealing Houses of Nigeria (ASHON); Temi Popoola, chief executive officer, Nigerian Exchange Limited (NGX); Kamarudeen Oladosu, past president, ASHON/director, NGX; Rasheed Yussuff, past president, ASHON; Sam Onukwue, chairman,ASHON; Umaru Kwairanga, chairman, Nigerian Exchange Group plc, and Emeka Madubuike, past president , ASHON, during celebration of ASHON by NGX on its contribution to Nigerian Capital Market in Lagos, recently.

African airlines’ passenger traffic rises 71.7% in March

By Ifeoma Okeke

AFRICAN airlines’ traffic rose 71.7 percent in March 2023 versus a year ago, the second highest among the regions. March capacity wasup56.2percentandload factor climbed 6.5 percentage points to 72.2 percent, lowest among the regions.

The International Air Transport Association (IATA) announced strong demandgrowthinairtravel for March 2023.

Total traffic in March 2023 (measured in revenue passenger kilometers or RPKs) rose 52.4 percent compared to March 2022. Globally, traffic is now at 88.0 percent of March 2019 levels. Domestic traffic for March rose 34.1 percent compared to the year-ago period. Total March 2023 domestic traffic was at 98.9 percent of the March 2019 level.

International traffic climbed 68.9 percent versus March2022withallmarkets recording healthy growth, led once again by carriers

in the Asia-Pacific region.

InternationalRPKsreached 81.6 percent of March 2019 levels while the load factor at 81.3 percent exceeded the March 2019 level by 10.1 percentage points.

“The calendar year first quarter ended on a strong note for air travel demand.

Domestic markets have been near their pre-pandemic levels for months. Andforinternationaltravel

two key waypoints were topped.

First, demand increased by 3.5 percentage points compared to the previous month’s growth, to reach 81.6 percent of pre-COVID levels.

This was led by a neartripling of demand for AsiaPacific carriers as China’s re-opening took hold. And efficiency is improving as international load factors

reached 81.3 percent.

“Evenmoreimportantly, ticket sales for both domestic and international travel give every indication that strong growth will continue into the peak Northern Hemisphere summer travel season,” said Willie Walsh, IATA’s Director General said.

Asia-Pacific airlines had a 283.1 percent increase in March2023trafficcompared

to March 2022, continuing therobustmomentumsince the lifting of travel restrictions in the region.

Capacity rose 161.5 percent and the load factor increased 26.8 percentage points to 84.5 percent, the second highest among the regions.

European carriers posted a 38.5 percent traffic rise versusMarch2022.Capacity climbed 27.0 percent, and load factor rose 6.6 percentage points to 79.4 percent, whichwasthesecondlowest among the regions.

Middle Eastern airlines saw a 43.1 percent traffic increasecomparedtoMarch ayearago.Capacityclimbed 30.5 percent and load factor pushed up 7.0 percentage points to 79.4 percent.

NorthAmericancarriers’ trafficclimbed51.6percentin March 2023 versus the 2022 period. Capacity increased 34.0 percent, and load factor rose 9.8 percentage points to 84.8 percent, the highest among the regions.

Latin American airlines had a 36.5 percent traffic increase compared to the same month in 2022. March

capacity climbed 33.4 percent and load factor rose 1.9 percentage points to 82.8 percent.

“As traveller expectationsbuildtowardsthepeak Northern Hemisphere summer travel season, airlines are doing their best to meet the desire and need to fly. Unfortunately, a lack of capacity means that some of those travellers may be disappointed.

“Part of this capacity shortfall is attributable to the widely reported labour shortages impacting many parts of the aviation value chain, as well as supply chain issues affecting the aircraft manufacturing sector that is resulting in aircraft delivery delays.

“However, a significant share of recent flight cancellations, primarily in Europe, are owing to job actions by air traffic controllers and others.

“These irresponsible actions resulted in thousands of unnecessary cancellations in March. This is unacceptable and should not be tolerated by the authorities,” Walsh said.

FNAC 2023 targets sustainability, investments for aviation sector

By Chigozirim Enyinnia

AS time runs its course for one administration, Nigeria’s aviation industry looks to the future with open arms on its sustainable options. What comes next for one of the country’s economic instigators? How can it rise to the occasion of pending obligations?

Last year, varying events coloured the progress of the industry significantly; events that incited controversial effects within the country. From: a hike in jet fuel price which in turn led to inflation of air ticket prices, to bouts of insecurity, dollar scarcity and trapped funds, partnerships and investments were established and also the introduction of the civil aviation act 2022.

Now in 2023, what are the chances of the sector providing solutions to the unanswered questions from the previous year in the upcoming event.

The Federal Airport Authority of Nigeria (FAAN) announced the 2023 FAAN National Aviation Conference (FNAC) will serve as a platform to exchange information and ideas for sustainable developments in the aviation industry.

It is also initiated to access investments and veritable solutions that have been adopted by key players relative to the future and growth of the industry, according to a statement by FAAN.

TheInvestmentForum is an avenue for FAAN to market its assets towards achieving commercially viable Airports (especially the Secondary Airports) as well as create access to sustainable alternatives for revenue generation at Nigerian Airports through funding and innovative ideas.

Last year, FNAC held its first ever conference for the same purpose of tackling issues pertaining to the sector’s growth; to address the challenges faced. The event opened the floor for domestic players in the industry and service providers to air out the challenges

faced and explore facets of solution.

Although some of the issues discussed are still subsisting, this event presents another opportunity for aviation to move upon promising grounds.

Like the maiden conference, FNAC looks to bring together international business leaders and experts, representatives of the organized private sector concessionaires, airline operators, Nigeria’s captains of industries and entrepreneurs, bank representatives, development partners and international organization, parliamentarians, traditional rulers and community leaders, diplomatic missions and embassies in Nigeria.

Themed ‘Sustainability of the Aviation industry in Nigeria’, the conference is scheduled to hold

from May 15 to 18 2023 at the International Conference Center in Abuja.

The objectives of the conference include creating a forum for the exchange of relevant industry information with all critical stakeholders for uniformity; deliberating how technology-driven innovations will change air travel in decades to come; and discussing the future of the airport visà-vis innovations, safety and security, financing and leasing, sustainability, growth drivers, logistics among others, according to the statement.

The event would present a platform for stakeholders to explore solutions already adopted by key players relative to the future and growth of the industry.

In addition, it will feature an investment forum to discuss opportunities in Nigerian Airports, and an exhibition arena to showcase commercial offerings at the airports to attract foreign and local investments. “This is borne out of our belief that if the opportunities in the States are adequately harnessed (especially in Agriculture, Tourism, Solid Minerals etc), it will drive a chain effect signaling the commercial viability of air-

ports,” the statement read in part.

The conference is setting its sights upon the horizon of Nigeria’s aviation sector. A gathering determined to spearhead its next level.

In terms of technology, some countries have seen themselves adapting after the visitation of Covid-19. This has consequently led to making operations as contactless and digital as possible, as a strategy to enable substantial growth in economy and comfort and safety of transit.

Many airports have evolved the check-in process to minimize humanto-human interaction and ensure safety; automated kiosks have taken the place of traditional checkin desks, and digital signage helps guide customers through the boarding process.

Also, security clearance and advanced object and body scanning technology, paperless boarding passes, and automated boarding process are the new norm. These are all linked via Internet of things (IOT) protocols and analyzed and deciphered by AI and machine learning algorithms.

Reality informs that in order to accommodate

the forecast growth, bold improvements and efficiencies for airports and air traffic management will need to be harnessed. For this purpose, innovation is keen.

Technical improvements have seen engines and aircraft become lighter, quieter and more efficient. New technologies are reshaping with robotics, artificial intelligence, the IOT, unmanned aircraft systems and the push for hybrid and electric airplanes.

Also, drawing from the recent actions of the United States, a new policy was adopted for the sake of protecting the aviation sector.

Just last week, the Transportation Security Administration (TSA), issued a new cyber security amendment for airport and aircraft operators.

This was done to protect the nation’s transportation system; to reduce cyber security risks and improve cyber resilience to support safe, secure and efficient travel.

So, as this year’s conference moves to advance the industry’s future, it would be to our benefit to look beyond the present looking glass unto tested standards that have proven effective.

Ensurinng fintech with cybersecurity in nigeria

By Yusuf Quadri

THE central bank of Nigeria (CBN) introduced the cashless policy in 2012 as part of the country’s goal of being amongst thetop20economiesbytheyear 2020.

The CBN introduced the cashless policy so as to drive development and modernization of our payment system in line with Nigeria’s vision 2020.

Nigeria has been at the forefront of embracing financial technology (fintech) solutions and implementing a cashless policy to drive digital transformation in its financial sector. Asweenter2023,theearlystage of the cashless policy and the adoption of fintech in Nigeria present a promising landscape, laying the foundation for a digital financial revolution that aims to enhance efficiency, foster financial inclusion, and stimulate economic growth.

The cashless policy, introduced by the Central Bank of Nigeria (CBN), is aimed at reducing the reliance on cash transactions and encouraging the use of electronic payment systems. This policy seeks to improve transparency, efficiency,andsecurityinfinancial transactions while promoting financial inclusion. With its early-stageimplementation,the cashlesspolicyhassetapattern towards a digital economy.

Financial technology is a combination of financial services and technology which has gained significant traction in Nigeria.Theadoptionoffintech solutionshasbeeninstrumental in driving the transition towards a cashless society. Innovative startups and established financial institutions have leveraged technology to offer a wide array of services such as mobile payments, peer-to-peer transfers, online banking, and digital wallets. This adoption has empowered individuals and businesses by providing

convenient, secure, and accessible financial services.

The integration of fintech solutions and the cashless policy have brought about enhanced efficiency and convenience in financial transactions. Individualsandbusinessescannow conduct transactions seamlessly, reducing the time spent on traditional banking processes. Fintechhaseliminatedtheneed for physical visits to brick-andmortar banks, allowing users to access financial services anytime, anywhere. This efficiency and convenience have accelerated economic activities andboostedproductivityacross various sectors.

The early stage of the cashless policy and fintech adoption has witnessed a mobile payment revolution in Nigeria. Mobile payment platforms such as Paga, Flutterwave, and interstwich have gained popularity, enabling users to make payments, transfer funds, and access financial services using their smartphones. These platformshaveplayedapivotalrole in extending financial services to the unbanked and under banked population, promoting financial inclusion and bridging the digital divide.

The implementation of cashless policy which has brought aboutfintechtothesociety,ever since then the fraudster has been trying to hack into everyone data in other to gain access into their electronic database.

One of the most critical dangers is cybersecurity fraud and fraudsters looking for data breach opportunities. Credit card processing and fraud during these transactions rank the highest in this crime category, leading to the opening of unauthorised new accounts. When data leaks occur, personally identifiable, sensitive information is leaked, leaving customers vulnerable to identity theft. Credit card fraud is a type of fraud that has not been eliminated and will continue to persist when we pay online. Cybersecurityplaysapivotal role in safeguarding sensitive financial data in the fintech industry. Fintech companies handle vast amounts of personal and financial information, such as bank account details, transaction history, and identity records. Without robust cybersecurity measures, these valuableassetsareatriskofunauthorized access, theft, or misuse, potentially causing severe

financialandreputationaldamage.Byimplementingadvanced security protocols, including encryption, secure authentication, and data encryption, fintech companies in Nigeria can establish trust and confidence among their customers, fostering the growth of the industry.

Cybersecurity affects Nigerians through online scams. These scams come in various forms, including phishing emails, fake online stores, and social media scams. Cybercriminals use these scams to trick individuals into giving up personal information, such as passwords and credit card details. Some scams promise to offer job opportunities or provide access to exclusive products or services. Nigerians must be cautious when browsing the internet and always verify the authenticity of any online transactions

The rapid digitization and interconnectedness of financial systems make fintech companiesattractivetargetsforcybercriminals. Hackers constantly seek vulnerabilities to exploit, aiming to breach networks, compromise systems, and steal sensitive data. With the right cybersecurity infrastructure

in place, fintech businesses can detect,prevent,andmitigatecyber threats effectively. Robust firewalls, intrusion detection systems, regular vulnerability assessments, and comprehensive employee training programs are vital components in building a strong cybersecurity framework. By staying one step ahead of cybercriminals, Nigeria’s fintech sector can operate securely and confidently.

In Nigeria, fintech companies are subject to various regulatory frameworks, including data protection laws, customer privacy regulations, and anti-money laundering (AML) guidelines. Compliance with theseregulationsisessentialfor maintaining the integrity of the financial system and protecting consumers’ rights. Cybersecurity plays a crucial role in ensuringregulatorycompliance by safeguarding data privacy, preventing fraud, and monitoring transactions for suspicious activities. By prioritizing cybersecurity, fintech companies can demonstrate their commitmenttoadheringtoregulations, enhancing trust and credibility among regulators and consumers alike.

Trust is the foundation of any financial system. Fintech companies heavily rely on consumers’ trust to drive adoption and usage of their services. A single cybersecurity breach can significantly erode this trust and hinder the growth of the sector. By investing in robustcybersecuritymeasures, fintechcompaniescanestablish themselves as trustworthy custodians of financial data. This, in turn, encourages customers to embrace digital financial services,leadingtoincreasedfinancialinclusionandeconomic growth. By prioritizing cybersecurity, Nigeria’s fintech sector can cultivate a secure and reliableecosystemthatinspires confidence among consumers.

GARDEN CITY DIGEST

VP Osinbajo, in PH, lists challenges of power sector, shows way out

By Ignatius Chukwu

OUTGOING vice president, Yemi Osinbajo, breezed into Afam, near PH, to commission Afam 3 Fast Plant that can supply power to some two million Nigerian homes. He did this on behalf of his boss, President Muhammadu Buhari.

After mentioning what the FG has so far accomplished in the power sector, the VP who actually is the chairman of the National Council on Privatisation (NCP) outlined the challengesthatstilldogthe power sector.

“The challenge before us is for the industry to leverage the improved commercial environment that has been created to sustainably supply electricity and extend service to all our citizens.

“Our administration has tried in this direction. The administration has created four programmes for up-grid electrification and revamped the Rural Electrification Agency that it now has the capacity to provide renewable off-grid electricity line on cash basis.

“This administration has also completed concessioning of the

Yemi Osinbajo

Zungeru Electricity Power Plant that will add another 700mw of renewable energy to our energy mix.’

Saying Nigeria is on track to provide electricity to all Nigerians in the nextdecade,Osinbajosaid he looked forward to the next administration to scale up already existing programmes.

Despiteallthis,hewent on, “We may not make progress if industrial and urban power supply that is anchored on large scale gas power plants such as the Afam 3 does not im-

PORT HARCOURT BY BOAT

prove. Despite having one of the largest gas reserves in the world, security for the power sector has remainedinconsistentandis hampering the form.

“In 2022, a gas supply stabilization fund at N40Bn was established by the National Electricity Regulatory Commission (NERC) to provide advancepaymentsecurity toallgassuppliesandelectricity supply industry. “Consistently gas suppliers in the sector had claimed that payments certainty was the greatest challenge to supply.”

Moriri Art Gallery opens 3-week exhibition in Port Harcourt titled “Searchlight”

...Director, Kayode Adeoti, says it’s about expressions on living, yearning, and governance

... Patrons say there is need to drive art consciousness back to the Garden City

By Ignatius Chukwu

Unfortunately, he lamented, the payment security has not led to improved supply certainty. “So, I encourage gas producers and gas suppliers to have a fundamental rethinkaboutsupplysecurity and propound ways to ensure our gas supply can improve and meet the gap andgrowindemandofthe Nigeria electricity supply industry.’

Giving hints of solutions, Osinbajo said some areas to further explore arenon-associatedgasand specific gas to supply the power industry on more liberalized rates. “Also, morejointelectricitypartnerships are needed between NERC and oil and gas regulatory agency to bring gas supply to the power sector.

“Every gas company supply to the power sector should have a requirement to have some form of contractual obligation with proper notice to nonperformance.

“I also urge the NNPC Ltdtoworkconstructively with the power companies to improve stability of supply from the Okolomo gas plant and its associated fields so we can have maximum of output of the 1.5mw of energy capacity in this Afam gas plant.

High encomiums on Tony Elemelu

...

By Ignatius Chukwu

THE Vice President, Yemi Osinbajo, in Afam, Oyigbo LGA area of Rivers State, said the last two days belonged to Tony Elumenu, the serial entrepreneur, banker, and someone now describedasthe‘Afritalist’.

Elumelu is the investor who bought Afam at N105Bn and has grown power to 240mw that was commissionedonTuesday, May 9, 2023.

The VP ended his addressbysaying:“Imustsay thepasttwodaysbelongsto Transcorp Power because at the same meeting of the NCP,theCouncilapproved Transcorp Power Consor-

tium as the preferred bidder of the Abuja Disco.

TheVPtalkedaboutthe joyofseeingcapitalflowing from indigenous companies such as Elumelu’s Transcorp group making this 100 per cent of this 166mwinvestmentreferred to as the Afam Genco. He talked about the N105Bn investment,andaddedthat the NCP formally delisted Transcorp Ugheli from routinemonitoringmaking thecompanyfullycertified as a concessionee.

The Minister of Power, Saleh Mamman, who was represented by Temitope Fashedemi, took it from the VP.

He stated: “Transcorp group is one of our leading gas power players in the country today.” He repeated what the VP said about the NCP, Transcorp, and the Ugheli gas plant that was delisted from BPE’s monitoringframeworkasa resultofthepositiveperformance and improvement

that Transcorp has made inUgheliPowerPlantsince they acquired it since 2013.

“I have also heard the great news about the turnaroundongoingwithAfam Plc, which was sold alongsidetheAfam3FastPower thatweareheretocommission today.

AfamPlcwastakenover from Ministry of Power

VISUAL art lovers swarmed inside the enchanting but moderatespacesonNumber 2 Inko-Tariah Avenue at the Mini-Okoro area of Port Harcourt on May 6, 2023, when the Moriri Art Gallery openedforits2023exhibition series titled; ‘Searchlight’.

Oil company workers, bank executives, professionals in and around the city, and creative artists with art critics around the universitiesintheGardenCitymilled around gazing at almost 30 newly mounted art pieces in the exhibition hallway.

The director of Moriri Art Gallery, Kayode Adeoti, explained that Moriri is an effort to restore the original tone and life in the Garden City which seemed to flee when violence and aggressive tone took over from dialogue, art, dance, and music as a way of life.

He also said where oil works, the expatriate communityusuallyflockaround art galleries to appreciate art pieces that would surely show light on the way of life of the people because, according, art comes with the culture of a people.

Theconvergingofover50 patrons at the opening day (evening) seemed to justify the claim that art is back in the garden city. The music atthebackgroundseemedto connect people to old times. Seats and tables are of ba-

boo and wood. Native café served the best cousines with peppersoup the best, as many preferred to climb up to the Mangrove Café where patrons could play native games including ‘ayo’.

Some of the guests who came from as far as Abuja admittedthatMoririwasthe right place and provided a uniqueatmosphereofpeace, calm, and nature.

In his opening remarks, Frabk Uguomoh, a professor of Art at the Univer-

in Afam, near PH

with usable capacity of about 70mw in 2021, what I hear today is that already capacity exceeding 100mw is being recovered from that plant.”

Nigeria today, has the mostgaspowercapacityin sub-Sahara Africa but our utilisation is not where it oughttobe.Weneedtocontinuepartnershipsbetween

our original equipment manufacturers and the GE group and our critical investors,liketheTranscorp grouptonotonlybuildnew power plants but also to recover existing and available capacity.

“We will like to commend Tony Elumelu for driving investment in the Nigeria sector across the valuechain.Yourteamhas proved to be the best in the sector so far.

The new structuring that made this project a reality is something that should be commended and replicated wherever possible. This notable collaboration has ensured that we arecommissioningAfam3 Power project today with the capacity to inject additional 240 megawatts electricityintothenational grid.

“This is commendable and will certainly improve the electricity supply to the nation along with the attendant growth of our

sity of Port Harcourt and a sculptor, explained the title of the exhibition, ‘Searchlight’.

Hesaidallovertheworld, societies search for political way forward. In this search, he added, humour could burst out and provide pleasurabledistraction.“Wecan laughatourselves,butaswe go away, we must take away the memories”.

economy and GDP. “What we are celebratingtodayisanexamplerof ourPublicPrivatePartnership. The Bureau of Public Enterprise (BPE) and NationalCouncilofPrivatisation (NCP) in deed deserve huge commendation for continuallyidentifyingand executingcredibletransactionstobringsuccurtothe Nigerian people.”

The Minister’s Rep found space to commend the VP and also the Rivers State government, saying the state deserves commendation for continually creating the enabling environmentforbusinessesand investments.“Ispecifically commend His Excellency, GovNyesomWike,andhis team for playing host to us here today.”

HereturnedtoElumelu: “Finally, I wish to thank the Chairman, Transcorp group, for this huge lofty achievement, the power plantisindeedveryimpressive.”

What VP Osinbajo and Perm Sec Power, Saleh Mamman, said

Tony Elemelu

Is the constitutional amendment a panacea for the Nigerian power sector?

By Dayo Ayoade

Electric power can be regarded as a public and economic good that is central to human development. Certainly, the modern world, its activities and benefits are driven by access to electricity, which ensures that productive or value-added processes are turnedintogoodsandservices that can be consumed within countries or exported for wealth generation. In view of its central position in the economy, it’s not surprising that the Constitution as the highest law of the land provides for a national approach to the electricity sector.

The 1999 Constitution (as amended) is the primary legal vehicle that provides the fundamentalprinciplesaccording to which the Nigerian State is governed. It essentially provides the parameters of the powers, functions and relationship between arms and levels of government. All entities within the country are subject to the supremacy of the Constitution.

One of the key problems with the Nigerian 1999 Constitution in relation to national development has been its provisions on the electric power sector which were amended, recently. Remarkably, the provisions merely replicate the position in the earlier 1979 Constitution. The constitutional amendment has been long overdue and certainly, energy experts have hitherto called on the Federal Government to limit its monopolistic strangleholdonthepowersector to allow for liberalisation that enables constituent State governments to participate in this important area of governance.

The Pre-Amendment Constitutional Regime

The starting point for the 1999 Constitution is its heritage as a document enacted under the auspices of an unelected military dictatorship. This is reflected, for instance, in its insistence on absolute ownership of crude oil, natural gas and other mineral resources under s44(3). Interestingly, it doesnotindicateacentralised

approach to electricity, which is put on the Concurrent and not the Exclusive Legislative List. This allows the National Assembly and State Houses of Assembly to make laws subject to their legislative powersunderPartIIofthe2nd Schedule to the 1999 Constitution as amended. As a matter of constitutional law, if either body enacts laws outside the limits of its powers, then that law will be null and void.

Paragraphs 13 and 14 of Part II of the Second Schedule to the 1999 Constitution, as amended, sets out the main provisions governing the governmental ability to regulate the electricity sector as follows - “The National Assembly may make laws for the Federation or any part thereof with respect to electricity and the establishment of electric power stations; the generation and transmission

The challenge is now on State governments to draft appropriate legal and regulatory frameworks to govern their electricity sectors. It would be advantageous to focus on local energy resources

of electricity in or to any part of the Federation and from one State to another State; the regulation of the right of any person or authority to dam up or otherwise interfere with the flow of water from sources in any part of the Federation; the participation of the Federation in any arrangement with another country for the generation, transmission and distribution of electricity for any area partly within and partly outside the Federation; the regulation of the right of anypersonorauthoritytouse, work or operate any plant, apparatus, equipment or work designed for the supply or use of electrical energy”.

The clear wording of the above provision shows that theFederalGovernmentoversees the generation, transmission and distribution of electric power. This power covers the entire territory of the Federal Republic of Nigeria which naturally includes the constituent states. Moreover, the National Assembly can make laws to govern bilateral electricity generation, transmission and distribution of electricity for areas within and outside the country. This is not necessarily limited to the immediate neighbouring countries surrounding Nigeria, as there is potential for involvement in a West African interconnector that powers national grids across the sub-region.

In relation to States, the Constitution did not, unfortunately, adopt the same broad

approach as it does with its Federal counterpart. The Concurrent Legislative List encompasses matters that are of common interest to the Federal and State governments, thus allowing legislatures at both levels to make laws. The exact wording is reproduced below for absolute clarity.

“A House of Assembly may make laws for the State with respect to electricity and the establishment in that State of electric power stations; the generation, transmission and distribution of electricity to areas not covered by a national grid system within that State; and the establishment within that State of any authority for the promotion and management of electric power stations established by the State”.

The net result of the above wording is to allow State Houses of Assemblies to enact laws on electricity within the land territory of the state. Unfortunately, the decentralised constitutionalpowersgranted were subject to an important limitation that hindered State government participation. Whilestateshavepowersover generation, transmission and distribution, their authority does not cover areas within the national grid. This important exclusion restricts the operational abilities of states to regulate electricity even within their jurisdictions. Moreover, the Federal Rural Electrification Agency also provides off-grid electricity with a focus on renewable

energy throughout the federation.

The Constitutional Amendment

On17thMarch2023,President MuhammaduBuhariassented to the Fifth Alteration Bill (No. 17) 2023 which amends the Constitution of the Federal Republic of Nigeria 1999 to allow States to generate, transmit and distribute electricity in areas covered by the national grid; and for related matters.

Thelandmarkmodification to the Concurrent List means that all 36 States can generate, transmit and distribute electricity throughout their territories. It removes the earlier exclusion of states from areas covered by the national grid. States are now constitutionally allowed to licence and control the entire value chain of the electricity sector in conjunction with the Federal Government. In other words,theNationalAssembly andStateLegislaturescanlegislate on the electricity sector subject to federal laws having precedence in the event of conflict under s4(5) of the 1999 Constitution as amended.

Implications of the Constitutional Amendment

The challenge is now on State governments to draft appropriate legal and regulatory frameworks to govern their electricity sectors. It would be advantageoustofocusonlocal energy resources. Therefore, new institutions such as State electricity regulators and supervising ministries must be considered. There is thus an urgent need for capacity building and hiring expert consultants to minimise regulatory risk and increase administrative efficiencies. The few states with existing laws like Lagos State will also have to review their institutional and legal regime in line with extant realities.

Although the amendment seemingly refers to States operating within their landmass, there does not seem any impediment to inter-state cooperation. This could per-

Continues on page 22

Fast-Moving Consumer Goods - legal and regulatory implications for online retailers

By Christian Aniukwu, Radiance Onu,

Iheanyichukwu

THE Fast-Moving Consumer Goods (FMCG) sector has witnessed remarkable growth, especially with regard to making use of online sales across different categories of goods. Facilitated by the changes in consumer behaviour, rapid urbanization, rising disposable incomes and internet penetration, e-commerce has grown exponentially providing growth opportunities to both big and small players in the FMCG industry.

Research by Allied Market ResearchrevealsthattheglobalFMCG e-commerce market size has been valued at $520.8 billion in 2021, and is projected to reach $1220.5 billion by 2031, growing at a rate of 9% from 2022 to 2031. The FMCG sector has largely expanded as a result of scalability and a reachable system of support from E-commerce. The digitalcommerceofFMCGproducts has created wide opportunities for companies and businesses in the FMCG e-Commerce industry. It also promotes consumer impulsive purchase that contributes to the huge sales of FMCG products in the market. In addition, the integration with new technologies tends to make the transactions seamless for both consumers as well as sellers and boosts the FMCG e-Commerce market growth.

People around the world are increasingly using online platforms to purchase products. E-commerce has revolutionized the way businesses operate, making it easier for consumers to purchase goods and services from anywhere in the world and allowing businesses to reach a wider audience without the need for a physical storefront. This article explores the impact of e-commerce on the FMCG industry in Nigeria as well as the legal and regulatory implications.

Impact of E-commerce on the FMCG Industry

E-commerce has significantly impacted the FMCG industry, especially as it now focuses on both the B2B (business-to-business) and the B2C (business-to-customer) business models. The imminent technology trend however does not come without its underlying issues andpotentialbusinesshassles,especially within the Nigerian market. While the adoption of e-commerce in the marketing of FMCG products has facilitated the growth of the industry, it has also undoubtedly increased the risks and liabilities within the industry, some of which have been identified below:

1.Trade Convenience: E-commerce has made it easier for consumers to purchase FMCG products in the comfort of their homes, a trend that has led to an increase in the sales for FMCG products. Consumers have the option of choosing any product or service they want, from any supplier, anywhere in the world. This is a much wider choice than in brick-and-mortar stores, and the freedom to browse digital catalogues without any stress or hurry is priceless. The traditional store has boundaries that allow it to offer only a limited quantity of goods. With e-commerce in the

FMCG Industry, consumers now have a variety of options to choose from when purchasing products or services.

2.Market Competition: With the rise of e-commerce platforms, newandsmallerFMCGbrandshave been able to enter the market and compete with established brands. This phenomenon has created a breeding ground for counterfeiting and infringement matters because most smaller brands, in a bid to make available products that are less cost-intensive, seek to thrive on the popularity and goodwill of core industry players by proliferating the industry with counterfeit goods that closely resemble or are similar to renowned industry brands.

3.AvailabilityofData: There is a saying which goes thus, “data is the new oil.” This statement finds expression in this discourse as ecommerce provides FMCG brands’ manufacturers, distributors, and retailers with more data on their customers, including personal information, shopping habits, preferences, etc. This has allowed brands to develop more targeted marketing campaigns and product offerings. However, this is not without the associated risks of probable cyberattacks,databreachesandtheviolation of the privacy of data subjects.

Legal and Regulatory Implica-

tions of E-commerce

Mirroring the various issues that abound in the sale and distribution of FMCG products on e-commerce platforms, it is vital to take into account the legal and regulatory responses that attempt to ameliorate these issues.

1.Consumer Protection Laws: Nigeria is yet to develop direct laws which would apply to e-commerce transactions. Thus, recourse is made to general laws applicable to trade in goods and services, and whether such laws can apply to an e-commerce transaction. The law governing the sale of Goods in Nigeria is the Sale of Goods Act, 1893 (SOGA).Asitconcernse-commerce, Section 29(2) of the SOGA is to the effect that a seller is bound to send goodstoabuyerwithinareasonable time, where the timeframe for delivery is not stated by the parties. The Act further provides in Section 30 that the buyer may reject the goods iftheyaredeliveredoflessquantity, and if of more quantity, the buyer may reject the extra goods. Section 32 further provides to the effect that where a seller sends the goods through a courier to be delivered to the buyer, the delivery is said to occur once it is delivered to the courier.

The legal implication here is that if an e-commerce trader was to sell goods online to a consumer, it is assumed (unless otherwise agreed), that the goods would be delivered via a courier service or postal delivery service (carrier). Thus once the trader delivers the goods to the carrier, delivery will be deemed in law to have occurred.

Also, the Federal Competition and Consumer Protection Act (FCCPA), which establishes the Federal Competition and Consumer Protection Commission (FCCPC), makes robust provisions as well as Regulations and Guidelines as it affects consumer goods. Consumers are entitled to goods free from defects, suitable for use, and possessing good quality as represented by the sellers. This is particularly important for the FMCG industry, having goods with short shelf life. In light of a competitive market, Section 127 of the FCCPA guards consumers against unfair and unreasonable terms of sale from retailers. Consideration of

the Regulations and Guidelines as promulgated by the relevant industry regulators (FCCPC, NAFDAC, SON, etc) as it relates to registration, licensing and certifications, labelling, advertising, electronic sale, etc are also pivotal. In essence, although FMCG products are being retailed on the internet, this does not in any way downplay the applicability of contemporary consumer protection laws.

2.Dispute Resolution: With the advent of Online Dispute Resolution (ODR) as a form of Alternative Dispute Resolution (ADR) in resolving disputes arising from e-commerce transactions, Nigeria seems not to have statutorily adapted to this expeditious dispute resolution mechanism, as there is no provision in the current Arbitration and Conciliation Act giving credence to ODR. ODR makes use of ADR mechanisms such as arbitration, mediation and negotiation, which are all employed online. One area of ODR that has won the attraction of international organizations and private institutions is online arbitration. Online arbitration has mostly been used to resolve both online and offline disputes, as disputes are resolved using various technological devices such as video conferences, e-mail, chats and electronic signatures. The ODR process has been hailed for its simplicity, speed, convenience and cost-effectiveness. It promotes confidentiality and win-win resolutions and is a more efficacious mechanism for resolving disputes for sustainability. On the other hand, the process has been criticized as lacking face-to-face interactions, having security and confidentiality issues, and problems with e-arbitration agreements and awards amongst many others. The good news is that most of these challenges are solvable, thus establishing ODR as a viable online equivalent of ADR.

3.Data Privacy and Security:

Online retailers must at all times comply with provisions of the Nigerian Data Protection Regulation, under the auspices of the Nigerian Data Protection Bureau and by virtue of the Applicability of the National Information Technology Development Agency Act (NITDA). They must take established measures to protect customer data from breach, theft, or unauthorized access. The use of the data collected and processed from data subjects must be communicated at all times. Data must not be retained past the duration for which it is required. Obtaining relevant e-marketing consent is also an important consideration for online retailers. However, vendor-customer relationships will require specific legal advice for these marketing activities given that it remains a complex area of law. It is required to use secure payment processing systems and ensure that customers’ payment information is protected. In order to ensure compliance, it is necessary that online retailers are particular to transact with e-commerce platforms engaging a Data Protection Compliance Organization.

4.Intellectual Property: In Nigeria, there is no consolidated

law governing Anti-counterfeiting. This has left a gap in the enforcement of anti-counterfeiting measures, especially in establishing the liability of e-commerce platforms over the sale of counterfeit goods. However, some relevant laws seeking to protect the intellectual property rights of manufacturers and retailers will include the Copyright Act, Companies and Allied Matters Act, Trade Marks Act, Patents and Designs Act, Merchandise Marks Act, FCCPA, National Agency for Food and Drug Administration and Control Act, Standard Organization of Nigeria Act, Customs and Excise Management Act, and their relevant regulatory bodies. More practically, for online retailers who are licensed distributors, it is necessary that the relevant licensing agreements are entered into and filed where necessary, according to the provisions of the law. There is also a duty on the retailers not to infringe on the rights of other retailers or manufacturers by selling fake products or products with trademarks that are closely similar to already existing trademarks.

Conclusion

In conclusion, the rise of e-commerce has had a significant impact on the FMCG industry, with online retailers and customers facing a range of legal and regulatory implications. While the growth of e-commerce has created new opportunities for online retailers to expand their customer base and increase sales, it has also presented issues of concern related to consumer protection, data privacy, intellectual property, and dispute resolution. To navigate this terrain, online retailers must stay up-to-date on the laws and regulations and implement robust compliance measures. Most importantly, online retailers should seek the expertise of FMCG lawyers, as they will provide crucial legal advice and guidance on a range of legal issues including compliance with laws and regulations, as well as dispute resolution for matters not limited to breaches on contract, product liability claims and consumer complaints.

ChristianAniukwuisaPartneratStren & Blan Partners, and heads the Firm’s Intellectual Property (IP) Prosecutions and Commercial Services Practice Groups. RadianceOnu isanAssociate in the Firm’s Intellectual Property and Dispute Resolution Departments, while Lois Iheanyichukwu is an Associate in theFirm’sFast-MovingConsumerGoods (FMCG)sector.

Stren & Blan Partners is a full-service commercialLawFirmthatprovideslegal servicestodiverselocalandinternational Clientele. The Business Counsel is a weeklycolumnbyStren&BlanPartners dedicatedtoprovidingthoughtleadership insightonbusinessandlegalmatters.

ConnectwithStren&BlanPartners:

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and Lois

Generative AI and Copyright - Part I

By Tiwalola Osazuwa and Akintunde Agunbiade

YOUwouldlikelyagreeifwe told you the featured image was a hyper-realistic painting of a boy on a beach and be interested in knowing the talented artist who pulled off thisimpressivemasterpiece.

What if we told you the artist here was not a natural person but a generative AI tool known as DALL-E, and all it took to ‘paint’ this piece, was to type the words, ‘anAfricanboysittingonthe beach staring at the ocean with the evening sun over him’. After typing in this phrase, it took DALL-E less than 10 seconds to develop four unique images, the above image being one of them, each conveying the message in the text prompt.

With tools like DALL-E, everyone can play at being an artist. But would that be enough to make us all artists, compared to those who use cameras, paint, and manipulate digital tools like CorelDraw to create original images? If I use ChatGPT to writeapoemoranessay,can I rightly call that essay my original work?

That is the central question this article seeks clarity on, considering the copyright laws of a few countries. It is important to note that DALL-E belongs to a family ofAItools,broadlydescribed as generative AI, alongside the popular ChatGPT and other similar devices.

To do this, we consider what generative AI is, how itworksandtherelationship between copyright, generativeAI,andthehumaneffort assumption that usually underlies copyright eligibility. We also consider how some copyright laws treat AI-generated works, as well as posit on treatment under Nigerian law.

Generative AI: An Overview

Generative AI is a class of AI tools capable of generating original text, images, audio, and audiovisual content based on user text-based prompts. The most famous example today is ChatGPT, developedbyOpenAI.Examples of different generative AI tools in various content categories are text, e.g. ChatGPT and Bard; images, e.g. DALL-E and Midjourney; audio, e.g. Amper Music and Aiva; and audiovisual, e.g. Descript and Runway.

Generative AI tools can create original content in whatever category they belong, mainly because they

are trained on large datasets (sometimes running into billions) of pre-existing content usingunsupervisedmachine learning models. Unsupervisedmachinelearningmodels are models designed to discoverpatternsindatasets without human intervention. For instance, unsupervised learning is fundamental to AI applications used in medical imaging for patient diagnosis and recommendation engines like YouTube and Netflix.

After learning to detect patternsinthetrainingdata, generative AI models can generate original content similar to the training data. There are two broad categories of generative AI tools -GenerativeAdversarialNetworks, or GANS; and Transformer-based models.

GANs create images, audio, and other multimedia. They are trained using multimedia data. DALL-E is an example of a GAN. On the other hand, transformer-

With tools like DALL-E, everyone can play at being an artist. But would that be enough to make us all artists, compared to those who use cameras, paint, and manipulate digital tools like CorelDraw to create original images?

AI in the USA and UK A.USA

The copyright regime in the USA broadly holds the position that there must be human effort or creativity for authorship to exist. This position was affirmed in early 2023 when the US Copyright Office (“the Office”) revoked the copyright granted to the comic book author because the images in her book were generatedusingMidjourney. The Office believed that the book’s text was still covered by copyright as they were the author’s original words. The images, on the other hand, were not her work and were not eligible for copyright.

based models are trained on the information scraped from the internet to create textual output. ChatGPT is a good example of this. With this background, this article’s next heading will consider copyright in relation to generative AI.

Copyright and Generative AI

Copyright covers a body of rights that creatives are vested with automatically upon creating an original literary work. Copyright generally allows the creator to control the reproduction of the original work, its adaptation, distribution, performance, display, and derive royalties from the commercial proceeds of the work—copyright grants exclusive rights over their creation,usuallyfor70years plus the creator’s lifetime.

Copyright laws in most parts of the world presume creativity and human effort to assign rights or authorshipoverawork.Generative AI tools, however, challenge this presumption as they separate creativity or effort from authorship. In creating theimageatthebeginningof this article, there was little creativity or human effort; as such, it might not qualify for copyright protection.

However, some climes create a different category of copyrighttorecognizeworks created with minimal human intervention, granting them protection, albeit for a shorter duration. These climes are thus more friendly for protecting generative AI works. The USA and UK are examples at both ends of the copyright spectrum.

Treatment of Generative

The Office subsequently released copyright guidance to clarify its position on generative AI. It believes that entering a prompt in a generative AI tool cannot be considered authorship, likeningittoissuinginstructions to a commissioned artist.Foraworkfromagenerative AI tool to be eligible for copyright, a human must have selected to arrange the AI-generated content sufficiently creatively, such that the resulting work becomes an original work of authorship, meeting the standards of copyright protection. Where the human modifies or edits the AI-generated content to a certain degree, it may also meet the criteria for copyright protection.

The Office further stated that the term ‘author’ under the US Constitution and Copyright Act excludes non-humans and generative AI tools by extension. The Office now requires applicants to disclose the use of AI-generated content in work submitted, explaining the human author’s contribution to the job. AI content that exceeds the threshold should not be included in the application. Where the Office learns that a work has significant AI content and the copyright owner did not disclose this upon application, the Office will revoke registration.

B.UK

The UK Copyright, Designs, and Patents Act 1988 (“the Act”) takes a dual approach to copyright protection. On the one hand, it aligns with the US position, deeming creativity as key to authorship. Works that involve significant human effort are granted copyright protection for 70 years plus the author’s lifetime.

On the other hand, the Act further recognizes

works with limited human involvement, separating creativity from authorship while granting them protection, albeit for a shorter duration. The Act achieves this by adopting a futuristic definition of computergenerated works. It defines them as works generated by computers in circumstances where no human author exists. This definition is broad enough to capture modern generative AI tools. When the Act was passed, the rationale behind defining computer-generated works this way was to deal with the advent of early AI systems, such as expert systems, which could generate original content in response to queries.

The Act also broadly defines who an author is under copyright. An author of a computer-generated work is the person ‘by whom the arrangements necessary for the creation of the work are undertaken’. Providing text prompts to a generative AI tool may be considered ‘arrangements necessary’ because the AI tool would not create any content without it. There is no requirement to arrange further or edit the work for it to be eligible. Thus, the images in the comic book would be copyright-protected on their own and as part of the book.

Considering the reduced human involvement, the Act defines the length of protection to be 50 years from when the author generated the work. As such, the copyright over AI-generated works may expire during the author’s lifetime and enter the public domain.

We have now engaged two spectrums of how copyright law treats generative AI through the USA and UK. In the final part of this article, we will consider how Nigerian copyright law treats, or will treat AIgenerated works.

AELEXisafullserviceCommercial&Disputeresolution lawfirmwithofficesinNigeria and Ghana. Contact us: www.aelex.com;@aelexpartners on LinkedIn, Twitter, Instagram and Facebook; info@aelex.com

AELEX Notesisadedicated column,managedbyAELEX LegalPractitionersandArbitrators,featuringlegaldevelopmentsandinsights.

BUSINESS OF LAW

Sustainable staff retention strategies for law firms

By Anthonia Ochei

WITHthecontinuing‘japa’wave and ever-changing demand of associates looking for greater benefits in the workplace, law firms are grappling with talent retention problems. In the competitive and ever-evolving legal industry, retaining top talent is essential for law firms to thrive. Losing key staff members not only impacts the quality of service provided but also increases thecostsassociatedwithrecruitment,training,andonboarding. It is important for law firms to implement effective strategies for sustainable staff retention to combat this challenge.

IntheWoltersKluwerFuture Lawyer Ready Report 2022, it was observed that “the Great Resignation has had worldwide impact, and as record-level resignation rates continue in 2022, the legal profession has faced unprecedented retention and recruiting challenges.” While financial incentives have traditionally been effective in retaining and attracting talent, the pandemic has brought about a shift in this trend. Rising burnoutratesandadesireforholistic development have caused many employeestoprioritizeotherfactors when considering their employmentoptions.Thus,offering a comprehensive development plan has become a more attractive incentive for the retention and attraction of talent in many cases. Also, legal professionals, similar to those in other sectors, are beginning to prioritize

their personal and professional needs and assess if their firms are attentive, empathetic, and accommodating towards them.

Here are some key strategies that law firms can adopt to retain their talent pool sustainably:

Opportunities for Growth and Development

Offering frequent opportunities for growth and development is crucial, particularly for legal professionals at the beginning oftheircareerswhoareeagerto applytheiracademicknowledge and gain practical experience. Whileitmaybetemptingtotask newhireswithextensivecaseresearch,thisapproachcanquickly lead to burnout, especially if they lack access to state-of-theart technology. Not only can this slow down their progress on assignments, but it can also

make them feel undervalued by the firm. By providing the latest technology,theycanaccomplish more legal research in less time whilesimultaneouslyenhancing their knowledge of the law. Employees value opportunities for growth and development, both professionally and personally. Law firms can offer training programs, mentorship opportunities, and career advancement plans to help their employees grow and develop their skills.

Embrace Flexibility

Prior to the pandemic, an employee’s physical location and proximity to the office played a significantrole.However,many firms shifted to full-time remote work during the pandemic and laterthehybridsetupsandhave continued with this model. It is uncertain whether they will return to their original 100 per

cent in-office approach, with some firms even reducing or eliminating their physical office spaces due to the pandemic or other reasons. The virtual work environment has opened up access to a more diverse and extensive talent pool. Law firms canexpeditetheirhiringprocess and increase their workforce. A survey conducted by McKinsey & Company in 2022 reveals that 73% of workers desire flexible work options, while 67% prefer morein-personinteractionwith their teams. This indicates that although face-to-face communication is valued, flexibility holds equal if not greater, importance.

In today’s work environment, work-life balance is becoming increasingly important for employees Providing flexibility can enhance employees’ productivity and engagement levels. Flexibility can manifest in different forms, such as a hybrid home-office model, flexibleworkhours,orremotework arrangements for a specified duration. It is essential to acknowledge that “flexible” does not imply a work environment with no goals, KPIs, or metrics. Instead,itpertainstothe“how” and “where” of work execution to meet job requirements.

Competitive Compensation Packages

One of the most effective ways to retain top talent is by offering competitive compensation packages. Law firms must ensure that their employees

Is the constitutional amendment a panacea ...

Continued

hapsallowafewneighbouring statestodevelopcommongeneration,transmission,anddistribution assets. Also, there is nothingtostopastatethathas generated excess power from selling it to another state or industrial customers located elsewhere. The way forward is to adopt a cooperative governance model that avoids confusion and uncertainty between Federal and State governments.

While there is no restriction on State governments investing in conventional energy resources to boost urgently needed power to underserved areas of the state, it would be useful to utilise this opportunity to focus on renewable energy as a means to address energy poverty. The possibility exists for States to engage in the production and sale of carbon credits or carbon offsets, in line with the ongoing energytransition.Also,States in the South-South region sitting on abundant gas deposits caninvestingaspowerplants.

More controversially, SouthEast governments might wish to collaborate to develop coal power plants and other infrastructure, though there might be problems obtaining international finance for “dirty coal”. All options for quick acceleration of Nigeria’s development must be carefully investigated in a cost-benefit matrix with a focus on practicality and consistent Federal government support.

Is the Constitutional AmendmentaPanacea?

There is no doubt that the Constitutional amendment removes an unnecessary bottleneckonStategovernments. Yet, it is not a simple solution to a highly complex problem. The electricity sector is expensive to fund and manage.

Despite the investment of billions of dollars since 1999, there has been remarkably little impact on a growing populationandbusinessorindustrial customers. Also, few States have the financial capacitytodirectlyinvestinand

create an internal electricity market. Hence the need to share risks and invest in collaborative ventures between contiguousstates. Thiswould require carefully negotiated and drafted legal agreements.

At the moment, the Federal Government and its institutions such as the Federal Ministry of Power, Nigeria Electricity Regulatory Commission (NERC), Nigerian Electricity Management ServicesAgency(NEMSA),Rural Electrification Agency etc haveoperatedtotheexclusion of State governments. There is, thus, an urgent need to revisit the legal and regulatory architecture that would provide for a dual regulatory regime. In particular, NERC and State regulators will have toaddressinteralia,oversight responsibilities, monitoring, and customer engagement within an effective cooperative governance regime that doesnotsignificantlyincrease compliance costs.

One potential stumbling block, for example, is the po-

are compensated fairly and receive regular salary reviews to keep their pay in line with the market. Offering competitive compensation is a key component in retaining top talent in the legal industry. This can include a salary that is on par with other firms in the region. More so, employee benefits are a significant factor in retaining staff. Law firms can offer benefits such as health insurance, retirement plans, bonuses or performance-based incentives and paid time off to attract and retain top talent. It is important forlawfirmstoregularlyreview their compensation packages to ensure that they are offering a fair and competitive salary.

Social Responsibility

Manyemployeesarelookingfor employers that have a strong sense of social responsibility. Law firms can showcase their social responsibility by implementing corporate social responsibility programs that support the local community, environment,andsocialcauses. Such initiatives can increase employee engagement and create a sense of purpose among staff.

Law firms can demonstrate this commitment by engaging in pro bono work, volunteering inthecommunity,orsupporting charitable organisations. This canhelpemployeesfeellikethey are working for an organisation that is making a positive impact intheworld,whichcanincrease theirjobsatisfactionandloyalty.

tential conflict between State governments and privately ownedelectricityDistribution Companies (Discos) which are licenced and regulated by NERC. This could be an issue if a State government wishes to distribute electricity in a place with existing distribution facilities. These are not insurmountable problems, however, there is a need for compromise and carefully negotiated guidelines and codes involving all stakeholders. Furthermore, the entrance of State governments and the creation of new markets will not address current challenges to the electricity sector and might exacerbate some problems. These include costreflectivetariffs,policyinconsistency, funding shortfalls, corruption,poormeteringand lack of political will to streamline electricity governance. In otherwords,theopportunities inherent in the constitutional amendmentmightnotachieve intended goals if stakeholders do not undertake a coherent effort to address these chal-

lenges.

Finally, the Federal Government is commended for addressing a constitutional issue that has plagued the electricity sector for over three decades. Former Governors Bola Ahmed Tinubu (Lagos State) and Peter Odili (River State) were unfortunately frustrated in their attempts to intervene in the electricity sector during their regimes. Nevertheless, the Federal Government will continue to play the lead role in the electricity sector. The emergence and growth of State electricity markets will dependoninnovativeandproactive measures within a cooperative governance model. This will ensure the development of a modern national grid and other infrastructure as well as off-grid competition that should eventually result inaffordableelectricityforall.

Prof Dayo Ayoade mni is an Energy and Natural ResourcesLawSpecialistbased inLagos

INDUSTRY FILE

Clifford Chance report signals new era for Africa’s transport and logistics mergers

AFRICA’Stransportandlogistics sector has become a potential goldmine for global investment, ascountriesacrossthecontinent look to modernise their competition law regimes in line with globaltrendsinamovetoattract business opportunities.

According to a report publishedlastmonthbyinternational law firm Clifford Chance, the transportandlogisticssectorhas seen a boom in the aftermath of the Covid-19 pandemic, with the sector accounting for approximately 50% of global mergers and acquisition activity in the first half of 2022.

Within Africa, the opportunity lies in overcoming existing challenges. The report noted that the expense of transporting goods around the continent was five times higher than in other regions due to factors including a lack of infrastructure support and tariffs. In response, the continent has seen an effort to modernise merger control regimes and make African territories more attractive investment prospects.

The report noted five key hurdles to remain mindful of whenweighingupAfricantransport and logistics investment opportunities: a rising number of competition law regimes, overlappingnationalandsupranational jurisdictions, unclear timetables for merger reviews, high and unpredictable filing expenses, and public interest concerns.

INDUSTRY FILE

Currently, 29 of Africa’s 54 countrieshaveanactivemerger controlregime,whileotherterritories come under the reach of a supranationalregime,including the Central African Economic and Monetary Community (CEMAC)andtheCommonMarket for Eastern and Southern Africa(COMESA).Newregimes can be unstable and therefore leave room for uncertainty and ambiguity for parties eyeing investment opportunities.

Meanwhile, established re-

gimes have been modernising recently, hopping on the bandwagon of global trends, with prominent examples including Egypt, Zambia, Zimbabwe and Mozambique. Across the board, merger control regimes lack a great deal of commonality or consensus, raising additional problems for cross-border deals and business opportunities.

The report warned investors to take into account the dual requirements where a region requires adherence to

both a national system and a supranational one. In addition, supranationalregimesmayalso overlap with each other, adding yet another layer of complexity. Some regions have unclear merger review timetables, with gaps in the local law in territories such as Tanzania allowing third parties to object to a transaction late in the deal review, while a lack of resources may also prolong review timetables. Furthermore, it is common for regimes to lack clarity on when

the clock starts on a review.

High or unpredictable filing fees are another obstacle, with African jurisdictions, as the report pointed out, having some of the highest filing fees in the world,amountingtoapercentage ofthedealparties’turnoverorassets. However, several countries have adapted to complaints of excessive fees in recent years. Nigeria,forexample,haslowered itshighestfeelevelfrom0.75%of thedealvalueorannualtransactionparties’turnover,depending on which is higher, to 0.35%.

Publicinterestconsiderations add another layer of complexity. Jurisdictions such as South Africa, Botswana and Namibia have placed factors including employment, price regulation andproperrepresentationofhistorically disadvantaged persons onto deals, which can add more layerstomergercontrolthanthe simple question of the transaction on its own. Some countries havemodernisedtheirregimesto increase transparency in recent times, including Botswana and Kenya, which are in the process of drafting guidelines for the evaluation of public interest assessments.

The ability to navigate these regulatory issues will be the key tounlockingthefurtherpotential for investment within Africa’s transport and logistics sector.

OriginallypublishedbyALB

IBA report reveals female lawyers are underrepresented in Nigeria

A STUDY by the International Bar Association has highlighted problematic genderdisparitiesacrossthe country’s senior legal roles.

Women are underrepresented in the top positions across three out of four legal sectorsinNigeria,according to a report by the InternationalBarAssociation(IBA).

Female lawyers were found to be underrepresented at the highest levels in every legal sector except for public law in the latest 50:50 by 2030 Gender Project report, a collaboration between the IBA and the LexisNexis Rule of Law Foundation, which was put together to understand the main reasons for female underrepresentation at the senior levels of the legal world, as the clock counts down to the United Nations’ Sustainable Development Goals 2030 deadline.

According to the study,

women account for 40% of lawyers and 46% of lawyers in senior positions. Female lawyers make up 61% of seniorpublicsectorlawyers, 55% of those in the corporate sector, 43% among law firms and 33% in the judiciary. The report found that 83% of respondents monitored genderbalance,butonly68% kept track of gender balance in senior positions, with the percentage falling to 40% in the corporate sector.

While these figures do not appear especially concerning, further findings of the gender disparity study revealed that only four of the nation’s 37 attorneys-generals are female. Female students represent half the law student numbers at many schools across the country, yet a meagre 4% of senior advocates and only four of the37attorneys-generalsare female, while only five of the

128 Nigerian Bar Association (NBA) branches are led by women. The country has also elected one female chief justice since independence in 1960, while the Court of Appeal has seen only two female presidents.

Professor Sylvia Ifemeje, attorney-general of Anambra State, identified several detrimentalfactorstofemale progress in the legal sphere. She noted in the report: “This gross underrepresentation of females in senior legal positions is attributable to various and frequently recurring challenges, including sexual harassment, professional inflexibility and the misogynistic perception of female capacity in a patriarchal society.”

A push for higher levels of female representation in the Nigerian business and legal fields has seen moves to create a more gender-in-

clusive economy across the country. The United Kingdom’s development finance institution (DFI), the British International Investment (formerly the CDC Group), introducedaninitiativetofinance female-led businesses last year with a USD 100 million finance facility to First Bank of Nigeria (FirstBank).

As for assisting female progressacrossthelegalprofession, the gender equality initiativesperceivedasmost effective and popular were flexible working arrangements, which were highlighted over the Covid-19 pandemicasaneffectiveway forfemalelawyerstobalance their work with additional aspects of their lives, and coachingandmentoringprogrammes. Leadership training for women also proved popular, while quota-setting was highlighted as the least popular initiative.

The Nigeria report marks the fourth release on the IBA agenda, preceded by studies onEnglandandWales,Spain and Uganda. The project aims to survey Chile, the Netherlands and the United Arab Emirates in its coming reports.

IBA President and project founder Almudena Arpón de Mendívil said at the time of its inception: “Through the “50:50 by 2030” global study the IBA aspires to build global empirical evidence on the barriers causing the disparity in figures between women and men in senior roles and to put forward remedies to rectify the situation in line with the UN Sustainable Development Goal on gender equality. We are committed to developing solutions that will bring about lasting change to reflect the broader profession and society as a whole.”

LIVE @ THE EXCHANGES

Top Gainers/Losers as at Wednesday 10 May 2023

BUA Cement, others cause equities market’s first dip this week

By Iheanyi Nwachukwu

AFTER a two-day rally, Nigeria’s equities market recorded its first decline on Wednesday by a remarkable margin of 0.75 percent or N215billion.

This dip came as more investors sold shares of BUA Cement Plc, Africa Prudential Plc, Caverton Offshore Support Group Plc and Academy Press Plc.

The market’s record negative close on Wednesday erased this week’s earlier gains, thereby pushing the week-to-date (WtD) return into negative of 0.49 percent.

TheNigerianExchange Limited (NGX) All-Share Index (ASI) and its equities Market Capitalisation decreased from preceding day’s high of 52,605.41 points and N28.643 trillion

to 52,209.06 points and N28.428 trillion. BUA Cement decreased most, from N97.85 to N90, losing N7.85 or 8.02 percent. It was followed by that of Africa Prudential which moved down from N5.60 toN5.35,shedding25kobo

or 4.46 percent and Academy Press which dropped from N1.65 to N1.52, losing 13kobo or 7.88 percent. Caverton also dropped from a high of N1.16 to N1.05, losing 11kobo or 9.48percent.

In 5,168 deals, investors exchanged

ShareholderslaudSeplatEnergy’s$204.4m fullyearprofit,15centspersharedividend

SEPLAT Energy Plc held its 10th Annual General Meeting (AGM) on Wednesday, May 10 with shareholders, regulators, company directors, and the media, amongst other stakeholders joining virtually.

In his address to shareholders and other stakeholders during the AGM, Basil Omiyi, Chairman of Board, Seplat Energy, said for the 2022 full year, the Company’s total revenue rose by 29.8 per cent to $951.8million while profit before tax rose by 15.3 per cent to $204.4million.

ers whose names appear in the Company’s Registeratthecloseofbusiness on April 18, 2023.

Omiyi said the Company’s oil business started the year on a strong footing, with working interest production of 29,078 barrels of oil per day (bopd) and 30,338bopd in Q1-2022 and Q2-2022 respectively, adding that:

“However, in the third quarter, production was impacted negatively by evacuation problems at the Forcados Oil Terminal (FOT), not being available for a period.

554,312,101 shares valued at N5.957billion. Shares of Access Corporation, FBN Holdings, FCMB Group, UBA and Zenith Bank were most traded on the Nigeria Exchange Limited. The market’s positive return year-to-date (YtD) decreased to 1.87 percent.

USAIDconvenesNigeria’sindustryleaderstodiscussimportanceofinfrastructureinvestment

THE U.S. Agency on for International Development (USAID), on Wednesday convened industryleaders,investors, and entrepreneurs for a one-day conference to reinforce the importance of infrastructure investment in Nigeria and showcase investment opportunities in strategic sectors.

Participants were of the view that how Nigeria grows, advances, and develops going forward relies on infrastructure investments.

The conference,

themed “Investing in Development,” showed that private sector investment in infrastructure is a vital pathway to achieving the Government of Nigeria’s development objectives across key sectors in Nigeria.

Participants engaged with industry leaders and gained insights into emerging trends and opportunities in these sectors. They also learned from presentations on infrastructure investment opportunities in the agroindustry, digital technology, financial services, and

energy and renewables sectors.

Through the two-year USAID-funded activity, Mobilising Institutional Investment for Infrastructure Development in Nigeria, also known as INVEST, USAID will build the capacity of the institutional investor community in Nigeria.

Implemented in Nigeria by investment bank Chapel Hill Denham, INVEST will galvanize privatesectorinvestmentsin infrastructure to support the country’s resilience to shocks and drive eco-

nomic growth and development.

“The INVEST activity and the partnership between USAID and Chapel Hill Denham will attract investments that will create jobs, improve infrastructure, and drive progress in key sectors of the Nigerian economy,” said Sara Werth, Acting USAID/Nigeria Mission Director, at the conference. She added, “Our discussions today will impact how we can work together to enable lowcarbon and resilient infrastructure in Africa.”

Dangote Cement quotes additional series of Commercial Paper on FMDQ Exchange

FMDQ Exchange, through its Board Listings and Markets Committee, has approved the quotation on its platform, the Dangote Cement Plc N44billion Series 4 and N46 billion Series 5 Commercial Papers (CPs) under its N150 billionCPProgramme.

Dangote Cement Plc is one of Africa’s largest cement producers, with a production capacity of 51.6 million tonnes per year acrossten(10)countries.

The proceeds from the Dangote Cement Series 4 and 5 CPs, which are sponsored by Stanbic IBTC Capital Limited (Lead Sponsor), ARM Securities Limited, FSDH Capital Limited and Quantum ZenithCapital&Investments Limited (Co-Sponsors)all Registration Member (Quotations) will be used to fund expansion projects, refinance short-term debts, as well as working capitalexpenditure.

Corporate institutions have continued to explore alternative financing options by tapping the Nigerian debt markets to sustain their business activities and plug capital shortfalls. FMDQ Securities Exchange Limited provides access to capital for corporate Institutions through its efficient and proficient Securities AdmissionFranchise.

The admission of these CPs and other debt secu-

rities on the Exchange, by corporates across diverse sectors, continue to validate FMDQ Exchange as the choice platform for the registration, listing and quotation of debt securities in the Nigerian financialmarkets.

It also lays credence to the innovation, efficiency, and operational excellence for which the Exchange is reputedfor,asendorsedby issuers,investors,andothermarketstakeholders.

With the healthy financial performance and solid cash position, the Seplat Energy Board recommended a special dividend of US 5 cents per share to be paid to shareholders, in addition to the final quarterly dividend of US 2.5 cents per share. This brings total dividend for the year to US 15 cents per share. The shareholders at the meeting approved the dividend payout, which willbemadeonoraround May 16, 2023 to sharehold-

“Thankfully, the much-delayed launch of the Amukpe-Escravos Pipeline (AEP) provided some relief as we were able to flow c.10,100bopd (working interest production) during the period.

The AEP is now a major export route for our largest assets at OMLs 4, 38 and 41. As a result, our relianceontheTransForcados Pipeline and FOT is significantly lower, reducing risks of downtime while providing a solid base for stronger export volumes and revenues.”

Marble Capital launches N3bn Halal Commodities Fund

THE Marble Halal Commodities Fund (MHCF) was on Wednesday launched in Lagos as the first commodities Fund to be approved by the Securities and Exchange Commission (SEC).

It is a new commodities Fund, domiciled in the agro-economic and extractive sector. The initial N3billion Fund consists of 30,000,000 units at N100 per Unit at par. But it can be increased subject to the approval of SEC.

The new asset class was designed not only to impact the Nigerian financial market, but the entire economic sector, most especially but not limited to Agriculture. industry.

The Fund which primarily invests in commodities-linked instruments, operates based on the principles of Shari’ah and as such only invests in halal -certified investment instruments.

Speakingatthelaunching ceremony of the Fund

in Lagos on Wednesday, Dayo Obisan, Executive Commissioner for Operations, Securities and Exchange Commission (SEC) noted that the launch of the fund would play a key role in the attainment of the 2015–2025 Nigerian Capital Market Master Plan of the Commission.

Obisan, noted that one of the cardinal points was for 25percent of the market capitalization to come from non-interest areas such as Marble Halal Commodities Fund.

Akeem Oyewale, Chief Executive Officer, Marble Capital Limited said the fund would enhance product diversification in the Nigerian economy while preventing loss of investments to Ponzi schemes and funny crowd funding programmes.

“The main objective of the fund is to provide investors with income diversificationandgenerate returns by investing in diverse halal- compliant instruments.

AI will create ‘a serious number of losers’, warns DeepMind co-founder

Mustafa Suleyman says governments should think about how to support workers who lose their jobs to technology

By George Hammond

ADVANCES in artificial intelligence will threaten whitecollar workers and create “a serious number of losers” over the next decade, according to one of the co-founders of AI lab DeepMind who has pioneered the technology.

“Unquestionably, many of the tasks in white-collar land will look very different in the next five to 10 years... there are going to be a serious number of losers [and they] will be very unhappy, very agitated,” said Mustafa Suleyman, who was speakingatGIC’sBridgeForum in San Francisco on Tuesday. Suleyman left DeepMind last year and set up his own chatbot business, Inflection AI.

Excitement about advances in the technology have been tempered by fears that as AI tools shake up everything from medicaldiagnosticstoteaching andcopywriting,arangeofjobs will be eradicated.

Recent research from Goldman Sachs predicted advancements in generative AI could boostannualglobalgrossdomesticproductby7percentovera10yearperiodbecauseofenhanced productivity. That could, however, cause “significant disruption” to the labour force, with as many as 300mn jobs potentially exposed to automation.

Suleyman said governments would need to think about how they support those whose

jobs would be destroyed, with universal basic income as one potential solution: “That needs material compensation... This is a political and economic measure we have to start talking about in a serious way.”

AI start-ups have made big technological leaps in the past six months, and companies have poured billions of dollars of investment into start-ups in the sector. Microsoft invested heavily into ChatGPT creator OpenAI earlier this year, valu-

ingthecompanyatabout$30bn.

The launch of a raft of tools such as ChatGPT — which let users generate a range of text, image or video outputs from naturallanguageinputs—have put “generative AI” into the spotlight and sent a wave of hype rippling through the tech investment community.

Google, which acquired DeepMind in 2014, has been developing its own language models such as LaMDA and PaLM. But the company was caught

cold by the launch of ChatGPT in November last year.

With LaMDA, “we had ChatGPT a year and half before ChatGPT. It was frustrating, beyond frustrating to see ChatGPT explode,” said Suleyman.

Google,headded,wasfirmly inthefighttodominatethenew wave of AI tools, but ChatGPT had made “them dance a little bit”.

The arms race between Microsoft, Google and a range of other chatbot creators includ-

ing Inflection and Cohere, which raised $250mn at a $2bn valuation last week, is pushing the frontiers of AI.

“The last decade has been defined by classification and definition, now we’re looking at interaction . . . rigidity of format is going to fall away and everything is going to feel more dynamic and personalised,” saidSuleyman,whosecompany launched its own chatbot Pi, short for personalised intelligence, last week.

Google unveils AI-powered search engine to rival Microsoft’s Bing

US tech giant seeks to make up lost ground in race to embed powerful new language models

By Madhumita Murgia

GOOGLE has launched a revamped search engine powered by artificial intelligence, as it rushes to make up lost ground in the race to bring powerful new language models to the internet search business.

The US tech group on Wednesday unveiled an overhaul of its search engine to incorporate AI advances that have been sweeping through the tech world since the launch of Microsoft-backed OpenAI’s ChatGPT six months ago.

“With generative AI, we are taking the next step with a bold and responsible approach,” Sundar Pichai, Google chief executive, said at a presentation on Wednesday.

At its annual conference

for developers, Google said itwouldoffermillionsofusers a feature within search that will include AI-generated summaries to queries similar to those given by chatbots such as ChatGPT.

The search feature will initially only be available intheUSthroughawaiting list system. Google said it

would then look to roll out the feature more widely in the coming months.

The AI-driven search feature, as well as updates toitsBardchatbotandproducts such as Gmail and Google Docs, are powered by the company’s large language AI model, PaLM 2, whichwasalsolaunchedon

Wednesday.

Google has been scrambling to catch up with Microsoft on consumer AI products. In February, Microsoft beat its rival to the punch by unveiling an AIdriven Bing search engine using OpenAI’s GPT technology. A month later, OpenAI revealed its language model, GPT-4, which users can access through a premium version of ChatGPT and via Bing.

The emergence of generative AI systems capable of producing plausible answers to questions in naturallanguagehasopenedthe first new front in the battle for search dominance for more than a decade.

Microsoft’s overhaul of Bing caused a dip in the share price of Alphabet, Google’s parent company, wiping billions of dollars

off its market value as Wall Streetdigestedthepotential damage to Google’s search dominance from a new AI battle with Microsoft.

In April, Alphabet merged its DeepMind and Google Brain AI research units in an effort to accelerate AI development.

Googlesaiditsrevamped search engine offers the option to follow up on the original search query in a conversational style, without the need for repeating context or details already provided.

AI-driven answers will also include links to web sources from which the answers are derived in its attempt to deal with socalledhallucinationsorfabricated information. Users will still be able to access

US inflation eases to 4.9% in April as Fed tightening takes effect

Investor confidence grows that interest rate increases are bringing prices under control

By Nicholas Megaw

US inflation was slightly weakerthanforecastinApril, bolstering hopes that the Federal Reserve’s interest rate increases are bringing price rises under control.

Consumer price inflation dipped to an annual rate of 4.9 per cent, its lowest level since April 2021. Economists had expected it to remain steady at 5 per cent.

“It’s a step in the right direction,” said Kevin Cummins, chief US economist at NatWest Markets. “Some of the doves on the [Fed’s policymaking] committee may feel emboldened by the fact you’re seeingevidencethattheworst of it is past, but core inflation and core services are still rising at a pretty solid pace.”

Lower airline fares helped bring down the headline figure, although inflation remained strong in areas such as used-car prices and still has some way to go to meet the central bank’s 2 per cent target.

Coreinflation,whichstrips out more volatile food and energy costs, has remained stubbornly high for the past few months. It dipped slightly in April to 5.5 per cent year on year, but has barely moved since the end of last year.

Growth in shelter costs moderated for a second consecutive month, which Cumminssaidwasanencouraging sign that should help to bring down the year-on-year core inflation number in the coming months.

On a monthly basis, the headline CPI index rose 0.4 per cent, while the core number rose by the same amount.

The White House said in a statement on Wednesday that easing gas and food prices

were providing “some welcome breathing room for families” at a time when the US economy and job market are strong.

The “single biggest threat” to the economy now is the US hurtling towards a default on its obligations, said Karine Jean-Pierre, press secretary.

The data spurred demand for bonds as investors grew more confident that the Fed would not need to make further rate rises. Yields on the two-year Treasury, which tracks rate expectations, fell 0.08 percentage points to 3.94 percent.Bondyieldsfallwhen prices rise.

The overall pace of price increasesintheUShasslowed substantiallyfromthe40-year

highs of last summer, leading FedchairJayPowelltodeclare last week that “we’re getting closeormaybeeven[finished]” with interest rate rises.

The central bank’s benchmarkratehasrisenfromclose to zero at the beginning of last year to a range of 5 per cent to 5.25 per cent.

The Fed has also warned the recent banking turmoil couldresultinacreditcrunch that would slow the economy and have a similar effect to further rate tightening.

Investors have for some time bet that a pause of the Fed’scampaigntolowerinflation would be swiftly followed byastringofratecuts,despite caution from Fed officials.

Those bets ramped up on

Google unveils AI-powered search..

Continued from page 26

the original Google Search format of a list of links below the machine-generated answers.

“Users want to see information being attached to a prominentbrand,like...the WorldHealthOrganization, or a trusted news brand,” said Cathy Edwards, vicepresident of Google Search. “We don’t think users want to be told by an AI what the

answer is.”

Edwards added that advertising would be “a core part” of the search results, providing more information to users as they delved into the suggestions made by the AI. Google has faced worries that AI-generated answers would reduce the number of adverts users click on, undermining its core business.

Google already uses AI software across its prod-

ucts,includinginitssearch engine to choose the most relevant results or autocomplete search queries, and in Google Docs and Gmail, for features such as Smart Compose. The company said it had recorded 180bn instances of AI use in its workspace tools last year.

The latest AI launches will allow users to input text queries and receive entire documents or emails

Wednesday,withfuturesmarkets now implying a 5 per cent chance that the Fed would lift rates in June, according to Bloomberg data, from 21 per cent before the data was released.

Investors are pricing in almost three quarter-point rate cuts by the end of the year, but some economists remain sceptical.

“CPIremainsfartoostrong for the Fed to even consider reversing course and cutting interest rates. While core services inflation and rents are showing some signs of moderation, core goods inflation appears to be accelerating ... we think a June hike is still quite possible if overall economic data remains too

strong,” said Gennadiy Goldberg, interest rate strategist at TD Securities.

Jobs figures released last Friday showed the labour market, a key driver of inflation, remained hotter than expected, while an alternative measure of core inflation also came in stronger than forecasts late last month. Powell last week signalled it would not be appropriate to cut rates if price rises were slow to recede.

“You see signs of progress which is good, but if you combine this with labour market reports... we believe [the] Fed still has more work to do,” saidAndrewPatterson,senior international economist at Vanguard.

generated by AI, and also allowthemtocreateAI-generatedimagesinslideshows and auto-generate tables.

“We’re not trying to replace people but help people get their jobs done faster by providing them with a starting point,” said Slav Petrov, a research scientist at Google.

As part of its new Search results, Google will also trial a social feature called Perspectives, which will

show users information from popular individuals on social media platforms and discussion boards, in the form of videos, images and written posts, rather than links to websites.

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Nigeria’s debt burden re-echoes...

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on the use of funds. As the economy tilts dangerously closetothecliff’sedge,BusinessDay’s analysis and expert opinions show that by abdicatingtheirresponsibility, lawmakers are partly culpable.

As lawmakers in the 10th Assembly jostle for leadership positions in the National Assembly, with manypromotingcandidates they think Bola Tinubu, the president-elect, would approve of, Nigeria runs the riskofheadingtoevenmore economic turmoil with another “rubber stamp’ legislature.

Ahmed Lawan, Senate President, said on Tuesday that the 9th Senate was mindful of the damaging effect of persistent conflict with the executive and its impact on legislative activities and hence settled for a robust relationship, which many concluded made it a rubber stamp.

In the United States, the Republican-led Congress is pilingpressureontheWhite House, demanding responsiblespending.Nigeria’s9th Assembly has a history of jettisoningtherubberstamp toga only when it concerns padding the budget and inflating their members’ allowances and constituency allocations.

But the country’s worsening poverty amidst profligate spending funded by debts, even as crude oil, the nation’s major revenue earner, declines, shows the folly of abdicating their responsibility to Nigerians.

Since 2015, the budget deficit has averaged N4 trillion every year. In 2022, Nigeria’s debt service-torevenue ratio stood at 80.6 percent, when the experts, including at the World Bank, recommend 22.5 percent for low-income countries like Nigeria.

The International Monetary Fund (IMF) is also

Tribunal rules on Atiku’s live

predicting the federal governmenttospend82percent of its revenue on interest payments in 2023, the most of any country, of which the projections hold true, analysts say.

“Ithinkthebiggestcritical aspect for Nigeria is that we have done a macro-fiscal stress test, and what you observe is the interest paymentsasashareofrevenue, andasyouseeusintermsof thebaselinefromthefederal government of Nigeria, the revenue, almost 100 percent, is projected by 2026 to be taken by debt service,” said Ari Aisen, the IMF’s resident representative for Nigeria, last year.

This is the legacy of the 9th National Assembly, which has the most servile set of lawmakers in Nigeria’s democracy. Their worshipful reverence for MuhammaduBuhari,aman withatenuousgrasponeconomic thinking, prevented critical scrutiny of budget deficitsanddemandedfiscal responsibility.

The clearest proof of this is seen in the fact that Nigeria’s total debt stock rose by N13.10 trillion between 2015 and 2019 under the leadership of the 8th Assembly, while debts rose by a dramatic 175.5 percent between 2019 and the first quarter of 2023.

Throughout this period, the Debt Management Office sold the fantasy that using the debt-to-GDP ratio, when compared with other countries, Nigeria’s debt was sustainable.

In 2019, Nigeria spent N54 of every N100 it earned, more than half, servicing debt. The country closest to Nigeria, Lebanon, was spending 50.8 percent of its revenues. Nigeria, being aheadofLebanon,isinitself abigindictmentonlawmakers, who are expected to serve as a watchdog to the executive.

Lebanon is grappling with a deep economic crisis

after successive governments piled up debt following the 1975-1990 civil war with little to show for their spending binge.

Asrepresentativesofthe people, lawmakers had an obligation to question the government’s revenue performance and demand that GDP grow along with debts because the debt-to-GDP ratio assumes a country is able to get revenues out of that GDP. They ought to question if the federal government now exists to pay debts. Not to invest in education, healthcare or infrastructure, as is expected of a developing economy with promising human capital and a huge infrastructure deficit.

“If your ability to generate revenue from your GDP is weak, then it’s a pretty useless indicator to track to determine your ability to repaydebt,”saidYemiKale, former statistician general of Nigeria.

“Imagineifweincreased our revenue to GDP by just 10 percent. Getting just 10 percent of our N200 trillion GDP is about N20 trillion. Try 15 percent, and that’s N35 trillion in revenues. Suddenly, our debt doesn’t look so troubling. So the revenue to pay does exist, but we are pretty poor at getting it out.”

Economies contract when spending is heavily curtailed; this is why the debt-to-GDP ratio leverages potentialincometopushfor economic expansion.

The trouble with Nigeria’s borrowing is that “we haven’t been able to match our expenditure energy with our revenue growth energy, so we have debt,” said Kale.

Thecurrentdebacleover ways and means lending further validates the notion that a servile set of lawmakers harms the economy.

As the banker of the Federal Government, the CentralBankofNigeriacan lend to the federal government through Ways and

Means Advances, a loan facility used to finance the government in periods of temporarybudgetshortfalls subject to limits imposed by law.

But there are legal guardrails.

Section 38 of the CBN Act states: “NotwithstandingtheprovisionsofSection 34(d) of this Act, the Bank (CBN)maygranttemporary advances to the Federal Government in respect of a temporary deficiency of budget revenue at such rate as the Bank may determine. The total amount of such advances outstanding shall not at any time exceed five percent of the previous year’s actual revenue of the Federal Government.

“All advances shall be repaid as soon as possible and shall, in any event, be repayable by the end of the Federal Government financial year in which theyaregranted,andifsuch advances remain unpaid at the end of the year, the power of the bank to grant such further advances in any subsequent year shall not be exercisable, unless the outstanding advances have been repaid.”

This loan is supposed to be in an amount not exceeding 5 percent of the previous year’s aggregate revenue, and no further lending should be made under this heading until the outstanding debts have been retired. But this debt has surged more than 30 times since Buhari came into office in 2015, as it was N789.67 billion when President Goodluck Jonathan left office.

“It is important to observe here and now that this is a legitimate source of funding for the government. The only problem on this occasion is that the law that stipulates how the loan should be extended for controlpurposestomitigate its inflationary impacts has been kept in the breach,”

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was agreed on today. On that note, the petition is further adjourned to the 17th of May 2023,” he said.

He noted that most of the lawyers have matters in other places but elections matters have been prioritisedandhopedthat thehearingwillbetreated expediently.

The respondents in Obi and LP’s petition with the number CA/ PEPC/03/2023 are the Independent National ElectoralCommission(INEC), Tinubu, the All ProgressivesCongress(APC),and Kashim Shettima.

Obi was present at the hearing, while Obiorah Ifoh, Labour Party’s national publicity secretary represented the party.

APPwithdrawsmotion against Tinubu, INEC

During the morning pre-hearing session, the tribunal dismissed the petitionbytheActionPeople’s Party (APP) which is also challenging the presidential elections.

Thepresidingjudgedismissed the petition numbered CA/PEPC/02/2023 following the motion by the party seeking withdrawal.

Obed Agu, counsel to APP,toldthetribunalthat the party filed a motion to dismiss the petition on

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Electoral Commission failed to upload presidential results as promised, even though Nigerians had pinned their hopes on technology, bringing to an end a long history ofcompromisedelections.

AsPresident-electBola

Ahmed Tinubu prepares to take over, perhaps it is

9th of May. He informed the court of its intention to withdraw the petition brought under paragraph 29 of schedule of election petition.

Agu had during Monday’s pre-hearing said the respondents should concede to the claims of the petitioner considering the “heavy weight of claims against them”, but filed for a motion for withdrawal.

Counsels for the respondents did not object to the petition, and did not ask for any cost. They commended the APP for the move, urging others to follow suit. The respondents are the Tinubu, APC, and INEC.

Wole Olanipekun, counsel to Tinubu, said: “We are not opposing the application. We want to commend them, and hope that more will still come.”

Also responding, Lateef Fagbemi, counsel to APC, said: “Ye shall know the truth and the truth shall set you free. We are not opposing”.

Following the withdrawal of the petition and no objection, Justice Tsammani said: “Having carefully considered the application, we are satisfied that there is no collision on the part of the respondents; the petition is hereby dismissed.”

only right that he gets to inherit the mess created bythemanhehelpedmake presidentin2015.Theyare each other’s legacy.

The lesson of all this is thatchangingfacesandrotatingpoliticalpositionsis notenough.Nigerianeeds systemicreformsthatonly its intellectuals and policymakers can drive — but that’s another story.

L-R: Josiah Akerewusi, registrar/chief executive, Chartered Institute of Stockbrokers (CIS); Franklin Ugwu, associate professor of corporate governance, Lagos Business School (LBS); Oluwole Adeosun, president, CIS, and Oluropo Dada, 1st vice president, CIS, during the opening ceremony of joint Capacity Development Training by CIS and LBS in Lagos, yesterday.

As Buhari prepares ...

THE BUHARI LEGACY SERIES Nigeria’s InfraCorp in limbo as CBN delays seed funding

Continued from page 1 delay by the Central Bank of Nigeria (CBN) in disbursing the initial seed money of N1 trillion to the four fund managers that will manage the company’s assets.

Touted as a game changer for Nigeria’s decrepit infrastructure, Infracorp is a government-backed infrastructure investment vehicle established and co-owned by the CBN, Africa Finance Corporation and Nigeria Sovereign Investment Authority.

“Each of the four appointed fund managers has to receive N250 billion each first before therealworkcanstartbutthat has not happened because the CBN has not disbursed the N1 trillion promised,” a source familiar with the matter said.

Sanlam InfraWorks; AfricaInfrastructureInvestment Managers; a consortium of Afrinvest Asset Management AfricaPlusFundPartnersand ARC Asset Management; and Chapel Hill Denham were the fourfundmanagersappointed to manage InfraCorp.

“It’s after the fund managers have received that, that they will start raising the additional N14 trillion in tranches,” another source said.

The infrastructure initiative, first put forward by a committee of governors and later hijacked by the CBN, is supposed to harness opportunities for infrastructure development in Nigeria by originating, structuring, executing, and managing end-toend bankable projects.

InfraCorp is to mainly leverage public-private partnerships to unlock assets for the development and completion of projects.

Itscoremandateistotackle Nigeria’sinfrastructuredeficit and generate a growth multiplier effect across critical sectors.

By supporting project development, financial structuring, and private-capital mobilisation,InfraCorpisalso expected to help combat issues of underemployment and under-investment in critical nation-building assets.

With a population in excess of 200 million, according to UN estimates, Nigeria has a total infrastructure stock valued at only 35 percent of its GDP, significantly below that of South Africaat87percentofGDP;and theemergingeconomyaverage of 70 percent, according to the Debt Management Office.

The paucity of investment in physical and social infrastructure over the years has continued to limit the growth potential of Africa’s largest economy, restricting its ability to tap its vast amount of natural and human resources towards achieving a broad based, sustainable and inclusive growth.

Estimates from the Nigerian Investment Promotion Commission indicate that

Nigerianeedsover$2.8trillion in infrastructure investment over the next 30 years.

Domestic capital seen as missingpieceininfrastructure puzzle

Nigeria will need to mobilise sufficient domestic capital to make a dent in bridging a gaping infrastructure deficit that has stifled private investmentsandheldbackeconomic growth in Africa’s most populous nation.

The country’s challenges with foreign exchange have made attracting foreign capital into infrastructure a tad difficult but domestic capital provides a leeway, according to experts who spoke at the ChapelHillDenhamInvesting in Development conference.

“In a world running short of private capital,there are lots of untapped potentials in the Nigeria domestic market that can fund bankable infrastructure projects,” Phil Southwell, partner at Chapel Hill Denham, said at the event

on Wednesday.

Lazarus Angbazo, CEO of InfraCo, said there is no idle foreign capital that can fix Nigeria’s infrastructure gap estimatedatN36trillionyearly for the next 30 years.

“We need to crowd in capital with structures to attract domesticinvestors,weneedto developlocalsupportforbankable infrastructure projects,” Angbazo said.

Mobilising domestic capital also lays down a marker that will be crucial in attracting foreign capital, according to AndrewAlli,formerCEOofthe Africa Finance Corporation.

“There is a strong need to mobilise local investment instruments for infrastructure development,” he said. “Nigeria needs to mobilise local investmentsforinfrastructure funding; this has an indirect way of attracting limited foreign investment.”

He added, “By putting your own money into it, it attracts foreign investors and sets the

tone of the investment.”

He noted that the current federal government’s pattern of seeking local investment in dollars will discourage locals from investing.

“Why is the government selling its assets in dollars to local investors? If your interest rate is lower than inflation rate, it discourages people frominvestingintoyourcountry,” Alli said.

Karl Toriola, CEO of MTN Nigeria, said the domestic telecom sector has what it takes to continuedeliveringdouble-digit growththatwillhelpliftAfrica’s biggesteconomydespitemacroeconomic headwinds.

“It’sbeenachallengingmacroeconomic environment, nevertheless I believe in the entrepreneurial skills of our young population to deliver creative solutions that will fix the infrastructure gap,” Toriola said.

“Our youths are building business models that are innovative and creative that willmakefirmslikeMTNlook

Nigeria’s debt...

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saidBonifaceChizea,aneconomic andbusinessdevelopmentconsultant in an opinion published by BusinessDay.

InDecember2022,PresidentMuhammadu Buhari wrote the Senate requesting approval to restructure N23.7 trillion in Ways and Means Advances.

“The ways and means, balances as of December 19, 2022, are N22.7 trillion. I have approved the securitisation of the ways and means balances on the following terms Amount: N23.7 trillion; tenure: 40 years; moratorium on principal repayment: three years; pricing interestrate:9percent.Yourconcurrence and approval are sought to allow for the implementation of the same,” Buhari said in the letter.

Lawmakers requested further details,andonMay3,theyapproved the request.

Some analysts have said that restructuringthedebtwouldreduce the debt pressure awaiting the incoming administration, but it could also encourage further abuse. This could continue the erosion of the naira, which has seen it collapse against the greenback.

President Muhammadu Buhari

Chris Ngige, minister of labour and employment

SadiyaUmarFarouq,ministerofhumanitarianaffairs,disastermanagementandsocialdevelopment MudaYusuf, chief executive officer of Centre for the Promotion of Private Enterprise

THE BUHARI LEGACY SERIES

Buhari reneges...

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through job creation has been a major target of the Buhari administration since 2015.

But his campaign promise of creating 24 million jobs, translating to three million annually, has fallen short as Nigeria’s unemployment rate has become one of the highest in the world.

Data from the National Bureau of Statistics (NBS) show that the unemployment rate quadrupled to 33.3 percent as of the fourth quarter of 2020 from 8.2 percent in Q2 2015. This means that the number of people without jobs rose by 280.3 percent to 23.2 million from 6.1 million, throwing millions of people into poverty.

The NBS data also show that the labour force population between the ages of 15 and 64 reduced to 69.9 million in Q4 2020 from 74 million in Q2 2015. The unemployment numbers for 2021 and 2022 are yet to be released, with the Presidential Economic Advisory Committee projecting 40 percent for 2021 while KPMG Nigeria forecast 37.7 percent for 2022.

The Nigerian Association of Small and Medium Enterprises said the number of micro, small and medium enterprises has reduced to 35 million in 2022 from 41 million in 2017.

“Histargethasnotbeenachieved because over the last eight years, there have been many negative, bad and terrible policies summersaults both fiscal and monetary related, which came to combine with the COVID-19 pandemic and our epidemic challenges as well,” Abiodun Keripe, managing director at Afrinvest Consulting Limited, said.

Moses Ojo, a Lagos-based economic analyst, said the increased number of unemployed persons indicates low individual productivity, which has led to an increase in poverty and also in criminal activities.

Employment is one of the most important economic indicators used to measure the health and performance of any economy. But forBuhari’sledgovernment,thatindicator has underperformed largely due to two recessions in 2016 and 2020 which pushed up unemployment and inflation rates and eroded the disposable income of families and their purchasing power.

According to a 2021 Steve Hanke misery index, Nigeria moved up by four places to 11th out of 156 countries from 15th in the previous year, indicating that Nigerians were more miserable than they were in 2020.

Last year, the NBS put the number of Nigerians living in multidimensional poverty at 133 million, compared to 82.9 million considered poor in 2019 by national standards.

The World Bank said in its ‘Nigeria Poverty Assessment 2022’ report that many non-poor Nigerians “are only one small shock away from falling into poverty,” while those already poor could be pushed into even deeper deprivation.

It said the pandemic crisis drove

up the country’s poverty rate, pushing more than five million additional people into poverty by 2022.

“One of the major factors that have worsened the unemployment rate is insecurity, which has affected the agriculture sector. And that has an impact on job creation,”

Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE), said.

“Secondly, the pandemic created a lot of disruption in the economy which collapsed many businesses. Even up till now, most of those businesses have not returned to business,” he said.

He added that inappropriate policies like the foreign exchange policy and the unfavourable macroeconomic environment are major problems for many businesses.

“High-interest rates and energy prices are making it difficult for people to create jobs or retain existing jobs.”

On May 29, 2015, President Buhari unveiled his National Social Intervention Programme to lift 100

Low-cost tickets return as airlines’...

Continued from page 2

hasincreasedfrequencyyet,they are getting good patronage.

He also confirmed that airlines are beginning to issue more tickets and open up their inventories.

“Lower inventories are now being opened up. This means summer will be great for travel

million Nigerians out of poverty in 10 years. N-Power was one of the job schemes created to tackle youth unemployment. In July 2019, the federalgovernmentsaidithadspent a total of N279 billion since it started paying the scheme beneficiaries from December 2016 to June 2019.

In 2017, Chris Ngige, minister of labour and employment, said the president has created seven million jobs since assuming office in 2015, through its N-Power programme.

In 2020, Sadiya Umar Farouq, minister of humanitarian affairs, disaster management and social development, said that since its inception, N-Power had trained over 500,000 beneficiaries in various vocational areas, which include farming, agro-processing, financial literacy, communication and digital skills.

“About 109,823 beneficiaries have gone on to set up businesses withintheircommunitiesasaresult of their training and time in the programme. And a total of 5.04 million Nigerians applied for the Batch C of

agencies. Airlines have been getting their monies through the Investors and Exporters FX window,” Bernard said.

The National Association of Nigeria Travel Agencies (NANTA) recently disclosed that airlines were being paid their trapped funds in “tiny trickles”.

As a result of the trapped funds, air fares quadrupled in

N-Power in August,” she said.

But compared to other age groups, unemployment is the highest amongst those within the country’s younger population aged 15-34, which comprises over 65 percent of its more than 200 million people.

Data from NBS show that the number of unemployed young persons surged by 220 percent to 12.8 millioninQ42020from4.0millionin Q2 2015. Other age groups like those between 35 and 44 rose by 434.4 percentto5.3million,45-54increasedby 410.7 percent to 3.3 million, and 55-64 rose by 345.1 percent to 1.9 million.

“The present administration has been plagued with a lot of things like two recessions and COVID which have had a counter effect on the labour market,” Olamide Adeyeye, a human development professional, said.

Yusuf of CPPE added that the country must acknowledge some of the president’s efforts in intervention funds to support small and medium enterprises and social investment programmes, even though

Nigeria. For instance, a return ticket from Nigeria to London hasriseninthelastoneyearfrom N350,000 to about N1.5 millionN1.8 million (for passengers paying in naira).

Stakeholders say the gains of opening up low inventories mean lower fares for passengers but this may be outweighed by the current increase in airlines’ rate of exchange, which has gone

they are not sustainable.

“The policies have not been able to remedy the problems that were homogenous and exogenous. So, they have not helped matters,” he said.

A recent survey by Jobberman conducted between June and July 2022 showed that 65 percent of 2,228 respondents between the ages of 18-35 years old were without jobs.

“Amplified by the global economic crisis, COVID-19, insecurity, and the current political landscape, Nigeria’s labour force is undergoing significant disruptions at all levels,” it said.

According to the survey, while there is a huge exodus of talent from the country, layoffs, retrenchment, and termination of contractual work arrangements are common in many employment sectors.

The high unemployment in Africa’s most populous nation has fuelled armed robbery, banditry, and kidnapping, which have made it difficult for the government to attract the investments needed for job creation.

Many are seeking opportunities to travel abroad, fuelling a massive brain drain that is hurting the labour quality in Nigeria.

According to the British government, the number of Nigerians given sponsored study or student visas rose by 768.7 percent to 59,053 in 2022 from 6,798 in 2019.

While the number of new study permitsissuedbyCanadatoNigeria increased by 17.8 percent to 16,195 as of December 31, 2022, the highest on record, from 13,745 in the same period of 2021.

“The pace at which this is happening is really fast. No country will grow significantly if there is a huge brain drain,” said Kemi Ogunkoya, aleadershipdevelopmentstrategist.

The World Bank projects that by 2030, the number of Nigerian youth needing jobs will increase to 40.2 million from about 30.8 million projected in 2021, which could worsen poverty on the continent since informal sector jobs are unlikely to offer secure pathways out of poverty.

“The high rate of poverty is forcing the youths to abandon furthering their education in a higher institution to find jobs in the informal sector,” it said.

Agora Policy, a Nigerian think tank and non-profit organisation, recommends that the country needs to create at least 3.6 million net new jobs annually to get unemployment down to five percent by 2033.

“Nigeria can solve its rising unemployment challenges by resolving broader macroeconomic challenges that limit growth across the board. This includes resolving the dysfunction of multiple rates in the foreign exchange market, and refocusing the Central Bank of Nigeria on its mandate of keeping inflation at optimal levels,” it said.

It said targeted infrastructure spending in particular areas that increase the competitiveness of Nigeria’s exports can tame rising unemployment. “This would include electricity, transport, and telecommunications investments in export processing zones.”

up from N610/$ to N634/$ in less than a month.

BusinessDaygatheredthatthe ratehasrisenthreetimesinthree months. The rate was increased from N460/$ to N551/$ in March and N610/$ in April. This month, it increased to N634/$.

SusanAkporiaye,presidentof NANTA, confirmed that airlines are increasing their routes from Nigeria, especially Air Peace.

“New airlines like Angola Airlines are planning to come in. They have started the process. TheyknowthatNigeriaisaviable marketirrespectiveofthetrapped funds issues. The trapped funds are not discouraging airlines. For airlines not operating in this market yet, if they have the opportunity, they will come since they stand to gain a lot from this market,” Akporiaye said.

NAICOM to enforce compulsory insurance cover scheme in South-East

THE National Insurance Commission (NAICOM) on Wednesday in Enugu said it would soon commence the enforcement of compulsory insurance cover for people in the South East of the country.

Cliff Chukwuani, Head, South-East Zonal Office, NAICOM, who disclosed this to the News Agency of Nigeria (NAN), said it was a way of making the people of the region to register for insurance cover.

Chukwuani said that the enforcement was part of its core mandate to ensure that Nigerians

abide by its compulsory insurances as stipulated under Insurance Act 2003.

He explained that the compulsory insurances were those made mandatory by the Nigeria law, and urged the people of the zone to obtain the insurance cover, as enforcement would commence after May.

Accordinghim,thefive compulsory products are Motor third party Insurance meant to ensure the safety of third party road users,becausethegovernment made it compulsory for citizens and residents

to have motor insurance before plying on public roads.

“Others are Employer’s liability/workmen’s compensation insurance, Group life assurance, Health Care Professional Indemnity insurance, Occupiers Liability insurance or insurance of public buildings.

“They are compulsory insurances and very soon, we are going to embark on massive strict enforcement under the law, because ignorance to the law will not be an excuse,” he said.

The zonal head noted

that the perception and participation of people in the region to insurance business was very low in spite of its enormous benefits.

He said that NAICOM Enugu office was the only one in the South East, but added that plans were underway to open offices in other states within the region.

“It is my desire to unleash something for them to know the value of insurancecompanies;itwill not cost them much to cover their life, property and businesses,” he said.

Chukwuani, while fur-

EDUCATION

theremphasisingtheneed to create massive awareness about the insurance business in the region, noted that the beauty of insurance cover was that when risk occurs the person would be placed back tohis/herformerposition prior to the loss through indemnity.

“Aside your business, youcaninsureyourbuildingagainstfire,stormand flood. Last year almost all parts of the nation were flooded with billions of naira loss, imagine if they were insured, people won’t cry,” he noted. (NAN)

American Int’l University, Gambia, offers scholarships to Nigerian student evacuees from Sudan

ABIODUN Odunuga, Co-founder, Friends of Nigeria,Europe,anon-governmentalorganisation,saidhe hadreceivedoffersforscholarships from the American International University, The Gambia, for a number of the Nigerian student returnees from Sudan.

FLOOD

NEMA issues flood alert, says Ekiti on danger list

THE National Emergency Management Agency (NEMA) has advised residentsofEkiti totakeprecautionarymeasurestoavertthe floodingpredictedtooccurin the state later this year.

The NEMA Head of Operations in Ekiti and Ondo States, Kadiri Olanrewaju, gave the warning during a sensitisation rally at Oja-Bisi,Oja-ObaandFayose markets on Wednesday in Ado-Ekiti.

Olanrewaju said that the forecastbyrelevantagencies

HEALTH

had named Ekiti among the statesexpectedtoexperience flooding based on increased volume of rainfall.

He said that most local government areas in the state were flood-prone with high risks due to sessional rainfall.

The NEMA chief added thateducatingthetraderson the risk of flood in different languages such as English, Pidgin,Igbo,HausaandEkiti dialect was the objective of the rally.

He said, “Every one of

The NEMA chief added that educating the traders on the risk of flood in different languages such as English, Pidgin, Igbo, Hausa and Ekiti dialect was the objective of the rally

us has witnessed the recent floods in Nigeria, which claimedlives,displacedthousands of people as well as destroy properties worth millions of naira.

“Floodscausewidespread ecologicaldislocation.Therefore,ithasbecomenecessary forcommunities,individuals and authorities to take proactive measures. We need to believe that prevention is better and cheaper than cure, as well as consider climate change issues more seriously.” NAN.

Rotary Club of Lagos donates N1.5m Infant Baby Incubator to hospital in Lagos

By Daniel Obi

ROTARY Club of Lagos has donated an infant baby incubatorvaluedataboutN1.5 million to general hospital Badagary in Lagos. This is part of seven areas of its focuswhichisMaternityand Child Healthcare.

Accordingtoastatement, the donation is also to consolidate on the numerous humanitarian projects carriedoutbythehumanitarian bodywiththeaimofmaking theworldabetterplaceforall

and sundry.

Speaking during presentation of the incubator in Badagary, the president of Rotary Club of Lagos, Rotarian Joseph Akhigbe according to the statement said; “we are here to donate an incubator to the general hospital here in Badagary, we have been doing lots of donations within the metropolis but, at this point we said to ourselves that it’s important we come towards this direction”.

According to him, “we

didalotofprojectsinFebruary which we spread round but we couldn’t come here at that time but, today we are here with an incubator and it’s important you understand that Rotary is a continuum and the president that is coming after me is here, you can always reach out to him and tell him about your needs.”

His words: “what’s really importantforusis,whenyou see the seven areas of focus of Rotary club of Lagos, maternity and child healthcare

is well captured there and that’s why we are here now. Wealsobuilttenboreholesin Ifo, Ogun state earlier in the year to support the communitiestherewithcleanwater, wearealsobuildingaschool in Ilara community in Epe.”

Continuing,thePresident furtherpointedoutthat,“we actually partner with some corporate bodies to make oursocietyabetterplaceand that’s why we’re here today to donate an infant baby incubatortosupportmaternity and child healthcare”

Odunuga said the scholarships received were for students with practical courses and who were willing to come to The Gambia. Healsosaidtheywerefor students willing to participate in the Paris Graduate School for online courses, suchasinHumanResources and Business Management courses.

Odunuga was speaking on Wednesday when a delegation led by Abike Dabiri-Erewa,Chairman,NigeriansinDiasporaCommission (NiDCOM), visited Is-haq Oloyede,RegistrarofJAMB, in Abuja.

INSURGENTS

Also speaking at the event, a member of the Parents Association of Nigerian student evacuees from Sudan, Hajia Asmau Muhammad Yerima, says the provision of facilities to enable students to continue their studies in Nigeria, is part of the therapy for the trauma they went through.

Yerima thanked Nigerians in Diaspora Commission (NiDCOM), the Joint Admissions and Matriculation Board (JAMB) and the federalgovernmentfortheir efforts and kind gesture to the students since the crisis began in Sudan.

The News Agency of Nigeria (NAN) recalled that the war that broke out in Sudan disrupted the academic programmes of many Nigerianstudentswhichled to the evacuation of over 1,856 citizens back to the country. NAN.

Army capable of containing insurgency - COAS

THE Chief of Army Staff (COAS), Lt.- Gen. Faruk Yahaya,onWednesdayassured that the Nigerian Army has the capacity to contain insurgencyanddealwithother criminal elements in the country.

TheCOASgavetheassuranceduringcombattraining and exhibition of firing power, organised for Infantry and Armoured Corps personnel, on Wednesday in Bauchi.

Yahaya, was represented byMaj.-Gen.SuleimanIdris, Dean Faculty of Operation Research, Nigerian Army Heritage Centre, Abuja.

He said training of army personnel was significant to the efforts being made to restore peace in the country.

“For the insurgents and other criminals, we assure

you that the Nigerian Army is capable of containing them.

“We will do everything possible as we are doing to contain and provide protection to loyal citizens of this greatnation,”thearmychief added.

On the training, Yahaya said it was designed to enhance the professional techniquesandbuildthesynergy required in military operations.

“This is important so as to continue to be the professional Nigerian army that can provide protection to loyal citizens of Nigeria,” he added.

The News Agency of Nigeria (NAN) reports that the COAS inaugurated the Nigerian Amour Driving School, and the Circuit and TankManeuverArea.NAN.

They are compulsory insurances and very soon, we are going to embark on massive strict enforcement under the law, because ignorance to the law will not be an excuse

L-R: Saidu Garba, representative of the chief naval staff; Ismaila Zelani, representative of chief of administration, Naval HeadQuarters, and Emmanuel Onwuzurike, chief naval safety and standard, during a news conference on forthcoming 2023 Presidential Fleet Review, inAbuja

Buhari requests Senate’s approval of $800m loan from World Bank

By Joy Odor

PRESIDENT Muhammadu

Buhari has requested the Senate to approve a fresh loan of $800m from the WorldBanktoenabletheadministration sustain its socialinvestmentprogramme.

In the letter, read at plenary on Wednesday by the President of the Senate, Ahmad Lawan, informed that the approval of the loan would enable federal government continue with the conditional cash transfer window of the programme.

According to him, government would transfer the sum of N5,000 per month to 10.2 million poor and low-income household for a period of six months with a multiplier effect on about 60 million individuals.

Mr President said to

EFCC arrests ex-Power Minister Mamman over alleged N22bn fraud

THEEconomicandFinancial Crimes Commission (EFCC) has arrested a former Minister of Power, SaleMammanoveralleged N22 billion fraud.

Competent sources revealed that the former minister was arrested on Wednesday and detained attheEFCCheadquarters, Abuja.

The sources said that the arrest was in connection with the ongoing in-

vestigation by EFCC into alleged corruption in the execution of some power projects

According to sources, the minister was alleged to have conspired with a member of staff of the ministry in charge of the accounts of the Zungeru and Mambilla Hydro Electric Power projects and diverted N22 billion.

The two allegedly shared the money among

guarantee the credibility of theprocess,digitaltransfers would be made directly to beneficiaries’ account and mobile wallets

“There is the need to requestforyourconsideration andapprovaltoensureearly implementation

“TheSenate,maywishto note that the programme is intendedtoexpandcoverage of shock responsive Safety Net support among the poor and vulnerable Nigerians. This will assist them in copingwiththecostsofmeeting basic needs.

“You may wish to note that, the Federal Government of Nigeria under the conditional cash transfer window of the programme will transfer the sum of N5,000 per month to 10.2 millionpoorandlow-income household for a period of six months with a multiplier effect on about 60 million individuals.

Meanwhile, the Director General of the Budget Office of the Federation, Ben Akabueze, has raised the alarm that the nation’s debt profile was becoming unsustainable.

RESOURCES

themselves.

”The investigations have also uncovered properties in Nigeria and overseaslinkedtothesuspects, while millions of naira and United States Dollars havebeenrecovered,”said sources.

Mamman, a native of Taraba, was appointed minister by President Muhammadu Buhari on Aug. 21, 2019, and was fired on Sept. 1, 2021. (NAN)

AIRPORTS

FEC approves N449.9m for masterplan of 17 airports

THE Federal Executive Council (FEC) has approved N449.9 million for the engagement of consultants for the development of master plan for 17 airports in Nigeria.

Garba Shehu, Senior Special Assistant to the President, Media and Publicity, briefed State House correspondents on Wednesday after the FEC meeting presided over VicePresidentYemiOsinbajo at the Presidential Villa, Abuja.

Shehu listed the airports as: Murtala Muhammed International Airport, Lagos, Nnamdi AzikiweInternationalAirport,Abuja,PortHarcourt

International Airport and Mallam Aminu Kano InternationalAirport,Kano.

Others are: The airports in Owerri, Imo, Benin, Edo, Enugu, Enugu State, Maiduguri, Borno,

Yola, Adamawa and Calabar.

The rest are those in Calabar, Ilorin Sokoto, Ibadan, Jos, Akure and Katsina.

Shehu said that the council also approved post-contract consultancy amounting to N3.4 billion for the construction of the second runway and associated facilities at the Nnamdi Azikiwe International Airport, Abuja.

The presidential aide said that contracts were also approved for the Ogoni remediation in Rivers. Shehusaid:‘`Twomajor contracts were approved for Ogoniland, Rivers, and you know, Ogoni is one of the flagships of the President Muhammadu Buhari’s admmistration.

“There are water projectsthathavebeenawardedunderthesecondphase amounting to N22.8 billion. (NAN)

Localcommunitiesshouldhavepower overresources—FordFoundation

THE Ford Foundation says that it is engaging local communities to understand what itmeanstobecustodianofthe mineral resources in their respective areas.

Hilary Pennington, Ford Foundation Vice-President ,made the statement at a roundtable organised by cultural and faith leaders on Wednesday in Lagos.

Theone-dayeventfocused largelyonGender-BasedViolence (GBV), its relative effects on the society and the role that can be played by cultural and faith leaders, alongside Women Rights Organisations (WROs),to address the menace.

The event, organised by Ford Foundation and supported by the United Nations (UN) Women, also discussed collectively shifting norms that promote GBV and identifying avenues for effective prevention and response.

Pennington said that indigenous people in communities that sit over massive natural resources are the first defenders of those resources,but do not have legal rights to their lands.

She said that they were

not equipped to have power and to sit at the tables where negotiationswerebeingmade about the value that gets extracted from those lands.

“So, our overall goal is to make sure that they are at those tables, and that when they are at those tables, they know the laws they have negotiating skills, they have the policy backgrounds that will help them be effective advocates.

“Then to fund research

organisations, advocacy organisations that can come aroundthecommunitiesthat are most affected and give them more power.

“We are also using our grants to give indigenous leaders access to technologies, to computers, so that they can have in a rain forest, drones that they can be usedtoseewhetherthereare illegal incursions or illegal activities happening around them,” she said. (NAN)

ARREST

Budget Office raises alarm on nation’s debt profile

Kaduna Govt generates N77.1bn as IGR 2022 – Report

THE Kaduna State Government collected N77.1 billion as Internally Generated Revenue (IGR) in 2022, against the N88.5 billion budgeted

The figure represents 87.1 per cent performance.

This was announced in Kaduna on Wednesday at the presentation of Citizens Accountability Report (CAR) on the implementation of Kaduna State 2022 budget.

Bolaji Osho, Executive Director, SkillsFuture Nigeria, who presented the report, described the achievement as commendable, considering the cash crunch that characterised the 2022 fiscal year in the state.

He attributed the 87.1 per cent performance to the consolidation of the state government’s aggressive IGR drive across major sectors of the economy.

“Over the years, the Kaduna State Government has demonstrated an aggressive drive to improve its IGR as indicated by the upward trend from 2019 to

2021.

“In 2019 for example, the government budgeted N41.7 billion but generated N43.9 billion, representing 105 per cent performance.

“In 2020, N29.4 billion was budgeted but 48.9 billion was generated, representing 166 per cent performance, while N51.7 billion was budgeted in 2021 and N52.4billionwasgenerated, representing 101 per cent performance,” he said.

Osho explained that the engagement would engender public trust and strengthen transparency

and accountability in the governance process.

The CAR identified the critical source of Tax Revenue for the state as personal taxes which recorded 144.8 per cent performance during the period under review.

The personal taxes comprise of Pay As You Earn and Direct Assessment.

Kaduna State Internal Revenue Service generated thehighestrevenueofN35.5 billion against a budget of N29.9 billion representing 118.5 per cent.

This was followed by

SEMA presents relief materials to victims of insurgency in Adamawa

the Kaduna State Ministry of Finance with a revenue target of N13.3 billion but generated N15 billion, representing 113 per cent performance.

The Kaduna Geographic Information System also generated N5.1 billion against the N12.5 billion budgeted for the year, representing 40.4 per cent performance.

The report further showed that the government spent N254.9 billion out of the N309.9 billion budgeted for 2022, representing 82.2 per cent performance, leaving a variance of N55 billion.

On capital expenditure, the government spent N165.6 billion as against N196.8 billion budgeted for the year, representing 84.1 per cent performance, leaving a shortfall of N31.3 billion.

For recurrent expenditure, the government spent N89.3 billion as against N113 billion, representing 79 per cent performance with a shortfall of N23.8 billion. (NAN)

We did not impose tax on PEDAN, says Ebonyi govt

THE Ebonyi Board of Internal Revenue has said the board did not impose any tax on the Petroleum Dealers Association of Nigeria (PEDAN) operating in the state.

Agwu Nweze, Chairman of the Board told the News Agency of Nigeria (NAN) in Abakaliki on Wednesday that they only placed demand notice on them over the money owed to the state government.

them; we were only following the law of the Federal Government.

“Some members of the Association have not been filing the tax they paid since 2015. Filing of tax paid gives authority the break down to ascertain whether youhaveunderoroverpaid the state government.

is N500, 000 per year for seven years.

“The Association have not been fair to the government of Ebonyi. Though, some of the operators have started filing and hopefully others will follow suit,” he said.

on Tuesday resumed work in the state.

THE Adamawa State Emergency Management Agency (ADSEMA) on Wednesday presented N1.6 million cash and other relief materials to victims of insurgency in Dabna Community of Hong Local Government.

The News Agency of Nigeria (NAN) recalls that the community was attacked on April 2, 2023 by gunmen and three persons were killed during the attack.

Presenting the items, Suleiman Muhammad, ExecutiveSecretary,ADSEMA, said that the gesture was approved by Gov. Ahmadu Fintiri following the agency’s assessment of the incident.

“Gov. Fintiri is sympathising with you and condoles those who lost their relativesduringtheincident.

“Take it as an act of God and be patient to continue withyournormalactivities,” he said.

According to him, the gesture is meant to cushion the effect of their loss not to pay back what they lost.

Muhammad said that state government was taking

drastic measures to see that such an incident does not happen again.

He further said that the cash was for those whose car, motorcycle or trading materials were burned as well as the families of those who lost their relatives.

Aliyu Yerima, Secretary of the council, appreciated the state governor for his timely intervention.

He assured the communityofjudiciousdistribution of the items for those who were affected.

Simon Yakubu, District Head of Dabna, thanked and appreciated for the gesture.

“It has already happened and there is nothing we can do than to pray for those who lost their lives.

“We thank Gov. Fintiri for the gesture, we are proud of him as a community and pray for him to succeed in life,” he said.

NAN reports that the items presented included rice, maize, cement, zinc, nails, mats, salt, maggi seasoning cubes, soap and rubber buckets. (NAN)

Anambragov’tengagesLGson industrialisation,moribundfactories

“So many filling stations have not been filing since 2015 when this administration came on Board.

RIVER

In his reaction, the State Chairman of PEDAN, Mr Silas Njaka, said its members shut down operations on Monday was because of the state government’s action on the issue of Pay as You Earn Income Tax.

Njaka explained that some of his members failed to make their filing on the issue of Income Tax.

“They have refused to pay the N3.5 million owed to the state government. We did not impose fine on OLIVER Orok, Cross River Commissioner for Agriculture, has said the state would need not to rely on federal allocation if its huge depositofmineralresources was harnessed.

Orok, who stated this while interacting with newsmen on Wednesday in Calabar, said the minerals couldbefoundinalmostthe entire local government areas of the central senatorial district of the state.

Oliver commended Gov. Ben Ayade for his developmental strides within the last eight years, adding that CrossRiverhadnobusiness

“The filling stations are to pay N3.5 million each to the state government. That with poverty.

NAN recalls that PEDAN had on Monday, shut down all its stations in the state over what it described as excessive taxation and fines by the State Board of Internal Revenue Office (IGR).

NAN observed that filling station operators had

“Our members, who are involved have been sued to court over the matter and the case will be heard on May 15,” he added. (NAN)

Cross River can be self-sustaining – Commissioner

He said this was because there was no council area in the state without its potentiality of contributing to the development of the area and that of the State by extension.

The commissioner said the incoming administration of Sen. Bassey Otu, had a lot to look forward to in boosting the revenue base of Cross River.

“Otu will certainly do welltochangethefortuneof CrossRiver,hehasallthatit takes to achieve that.

“Cross River is blessed and has potential to be self

sustainable when the huge mineral resources deposit is fully harnessed for the greater benefit of the people. All these abound in the Central Senatorial District of the state.

“Agriculture is also another area where we have huge potential; from rice to groundnut, cocoa, rubber, oil palm and others. The state has no business being poor.

Bassey Otu must also work assiduously to shore up revenue and also block all leakages,” he stated.

Oliver also pointed out what Cross River would

benefit from the development of the Bakassi Deep Sea Port.

He said that the development of the port would radically transform the economic wellbeing of the people through massive job creation as well as shore up therevenuebaseofthestate.

“The development of the port will be a win-win thing for both the state and country in general,” he stated.

He further called on the Federal Government to assist the incoming administration of Bassey Otu by putting into use the cooked oil wells in the state. (NAN)

THEAnambraGovernment says it will harness the comparative advantage of the 21 Local Government Areas (LGAs) in resource endowments to drive its industrialisation efforts.

Mark Okoye, Managing Director and Chief Executive Officer of Anambra State Investment Promotion and Protection Agency (ANSIPPA), said this at a meeting with LGA chairmen and Head of Planning Department in Awka on Wednesday.

Okoye said the government was gathering data on investment potentials and moribund factories across the LGAs in the state with a view to finding a way of returning them to optimal productivity.

He regretted the illegal exploration of natural resources in the state and urged the local government transition chairmen to help guard these resources and mainstream them into the state economic development plan.

According to him, ANSIPPA wishes to engage

with you in areas of identification of investment opportunities across the communities and compilation of major industries and opportunities to be included in the our database.

“Data gathering of industries and other relevant investments across LGAs throughtrackingofpermits for buildings as well as identification and reportingofabandonedindustries in Anambra,” he said.

He tasked the council chairmen to strengthen and fundtheirplanninganddata gatheringdepartmentsqualityandup-to-datedatawhile assuring that the interface would be a regular event.

Onhispart,MrTonyCollins Nwabunwanne, CommissionerforLocalGovernment and Chieftaincy Affairs, said the partnership between ANSIPPA and the Local Government system would yield huge positive impact if well harnessed.

Nwabunwanne said Anambra was blessed with abundantnaturalresources which were yet to be tapped to full potential. (NAN)

ADAMAWA

ANAMBRA

EBONYI

CROSS

GLOBAL BUSINESS ROUND UP

Sovereignty:SouthernCameroonseeks internationalcommunityintervention

THE Southern Cameroon has appealed to the United Nations (UN) to intervene and ensure a sustainable resolution of the lingering issues bothering on the sovereignty of the region.

Samuel Sako, Leader of the Interim Government of Southern Cameroon, made theappealonWednesdayat thesecondglobalnewsconference on issues affecting the region.

Globalfoodpricesinflationremainshigh-WorldBank

THEWorldBanksaysinflation in food prices remains highgloballyfromJanuary to April.

“Available data on food prices show high inflation in almost all low and middle-income countries,’’ it declaredinitslatestreport.

Itdeclaredthatinflation level was greater than 5 per cent in 64.7 per cent of low-income countries; in 83.7 per cent of lower-middle-income countries and 89 per cent of upper-middle-income countries.

It added that about 81.8 per cent of high-income countries were also experiencing high food price inflation.

“Themost-affectedcountries are in Africa, North America, Latin America, South Asia, Europe, and

Moscow

Central Asia,’’ the bank stated.

ItlistedNigeria,Afghanistan, Burkina Faso, Haiti, Somalia, South Sudan, Yemen as seven countries where some of the their populations faced catastrophic levels of food insecurity

Thisindicatesthethreat of famine and extremely critical levels of malnutrition in several areas of the countries, it added.

The bank also stated that the 2023 Global Report on Food Crises (GRFC) released on May 3, indicated that 258 million people in 58 countries or territories faced crisis of acute food insecurity in 2022.

“The number of people experiencing crisis or worseacutefoodinsecurity

is the highest on record since the GRFC started reportingthesedatain2017.

“The year 2022 marked thefourthconsecutiveyear of increases in the number of acutely food-insecure people,’’ it stressed.

“The global food crisis has been partially made worse by the growing number of food trade restrictions put in place by countries with a goal of increasingdomesticsupply and reducing prices.

“As of March 13, 2023, 22 countries have implemented 28 food export bans, and 10 have implemented 14 export-limitingmeasures,’’ the bank added.

It stated, however that it had achieved its target of making 30 billion dollars commitment for food

hosts summit to

Turkey-Syria relations

RUSSIA is hosting a summit to improve relations betweenTurkeyandSyria, receiving Turkish Foreign Minister, Mevlut Cavusoglu and his Syrian counterpart, Faisal al-Mikdad on Wednesday.

The foreign ministers of Russia and Iran, Sergei

improve

Lavrov and Hussein Amirabdollahian, also attended the four-party summit which is known as the Astanaformat,intheRussian capital, the local media reported.

Lavrovsaidtheaimwas todetermine“commonorientation points for further

and nutrition security response.

“Between April and December 2022, the bank’s foodandnutritionsecurity commitments in new lending passed the 12 billion dollars mark – with almost half for Africa.

“Africa is one of the hardest hit regions by the food crisis,’’ it stated.

It identified one of its commitments as the 766 million dollars West Africa Food Systems Resilience Programme aimed atincreasingpreparedness against food insecurity in West Africa.

It stated that there was an additional 345 million dollars commitment currently under preparation for Senegal, Sierra Leone and Togo. NAN.

Sakowhodecriedthesix yearslongwarintheregion whichwasformallyknown as Ambazonia, urged the international community, represented by the UN to focusaddressingthelingering issue on unaddressed long-standing grievances.

He said the grievances had persisted since the colonial era; therefore, there was the need for urgent interventiontobringabout lasting peace.

According to him, the UNafterhavingrecognised Southern Cameroon’s sovereignty did not give a referendum, rather they gave the Peoples of Southern Cameroon a plebiscite.

“A plebiscite is consultation of opinion, not a referendum; it was not law. If theUNthoughtwewerenot autonomousbutatinypart ofLaRépubliqueduCameroun,theywouldhavegiven us a referendum. NAN.

Mobileinternet,socialmediablocked asviolenceragesinPakistan

IN the aftermath for former Pakistan Prime Minister Imran Khan’s arrest, the InteriorMinistryinstructed the Pakistan Telecommunication Authority (PTA) to block mbile broadband services across the country. Twitter, Facebook and YouTube were blocked at the Interior Ministry’s request, a spokesperson for the Pakistan Telecommunication Authority(PTA)said.

It is not clear how long access will be restricted, he said.

The blockade began on Tuesday after videos of violenceandattacksonmilitary facilities began circulating onsocialmedia.

The authorities also closed educational institutions in major cities includ-

development” in Syria. He added that there would be an agreement at the end of the meeting to work out a “draft roadmap forSyrian-Turkishnormalisation.”

All four countries are involved in Syria’s civil war that broke out in 2011.

said

in Syria

While Russia and Iran support Syrian President Bashar al-Assad, Turkey has backed rebel forces.

TheSyrian,Russianand Turkish defence ministers met last December and in April, in initial diplomatic attempts to bring Damascus and Ankara closer together. (Xinhua/NAN)

ingthecapital. Khan was arrested the previous day on corruption charges, sparking violent protests across the country that already faces extensive politicalandeconomicproblems.

Pakistan has been grappling with political instabilitysinceKhanwasoustedin a no-confidence vote. (dpa/ NAN)

We’rerebuildingstronger,agile SouthAfricanAirways-CEO

SOUTH African Airways (SAA)hasdisclosedplansto rebuildtheairlinetobecome stronger and more agile beforetheendoftheyear.

JohnLamola,ChiefExecutive Officer, SAA, during the ongoing Africa’s Travel Indaba (ATI) in Durban, saidthatthiswaspartofthe strategytofulfiltheairline’s mandate as a responsible nationalcarrier.

Lamola said that SAA had been given licence to increase its fleet, hence, the airline would be doubling itsfrequenciesandensuring a more agile operational model.

” As we approach the month of December, we will put in a seasonal proven agility of our management processes.

”Wewillputinaseasonal fleet arrangement, we will introduce two new routes and double our frequencies

as a stimulation of our operationalmodel.

” We are building a stronger and more agile airline that is going to be the wonderofAfrica.

”Webelieve,astransportationindustry,ourroleisto develop, create and market expectations by searching and developing routes and identifyingnewdestinations, as well as taking the risk before the passengers or potentialtravellersdecide.

” We have the responsibility to ensure there is a reliable,affordableandpleasurable air transport system, and that is the development wearetalkingaboutthatwill beunfoldinggradually.

” We really appreciate your partnership, the travel tradecommunityisverycritical to us, we are dependent on you, besides the wonders of the digital age,” he said. NAN.

Lavrov

the aim was to determine “common orientation points for further development”

South Sudanese flee Sudan’s conflict yet return to crisis

MOMENTS after gunshots and explosions rang out in Khartoum, killing civilians and damaging buildings, Nyarok Gach grabbed her eight childrenandreluctantlybegan the treacherous journey home. Four years ago she had crossed into Sudan, fleeing civil war in her native South Sudan, but the place she hoped would bearefugeturnedouttobe anything but.

Nowshe’sbackinSouth Sudan, but it’s a country still in turmoil.

“The suffering we fled in Sudan is the same suffering we have now,” said Gach. Sitting on a straw mat in the impoverished village of Wunlueth in South Sudan’s Canal-Pigi County, the 35-year-old said she has come home to misery. Her village has been plagued by floods, people don’t have access to clean water or food, and violence in parts of the country persists despite a fragile peace deal signed in 2018 to end fighting that killed nearly 400,000 people.

Morethan40,000people

— mostly South Sudanese — have crossed the border since Sudan erupted in conflict nearly a month ago. Many are returning to areas unable to support to them and still riddled with fighting. Five years of war and unprecedented floods have pushed South Sudanintoadiresituation with more than 75% of the nation’s 12 million people

in need of humanitarian assistance and nearly 3 million on the brink of starvation.

Earlier this month, the United Nations warned that 180,000 South Sudanese could return by August and called for more than $95 million in urgent assistance.

“People are arriving at border areas that are extremely difficult to access, often in areas where the few existing roads are likely to flood when the rains start in the coming days,” said said Peter Van der Auweraert, South Sudan’sactinghumanitarian coordinator.

“If we do not act now, there is a high risk that

vulnerablefamilieswillbe stranded in inhospitable border areas for the duration of the rainy season, which will increase their suffering and the costs of providing assistance.”

Most people are crossing into South Sudan’s northern town of Renk, in Upper Nile state, where some 6,000 are sheltering in a makeshift transition center with thousands morescatteredthroughout thetown,accordingtogovernment statistics. Some have been flown out of the nearby border town of Palochincharteredplanes funded by generous businessmen from the capital, Juba, while nearly 2,000 others have traveled by

boat along the Nile to the state capital of Malakal.

But aid workers say many people either don’t havethemeanstogethome or don’t want to return to their villages because of security concerns.

Violencebetweenfighters aligned to the government and opposition armies in Upper Nile state spiked last year, killing hundreds and displacing thousands. Senior governmentofficialsandmilitary officers are implicated in human rights violations suchaswidespreadattacks against civilians, killings, rape and sexual slavery, saidareportlastmonthby the United Nations Commission on Human Rights

in South Sudan. Many who do return are going back to remote villages, like Wunlueth, with no roads, little access to health care or food and which are already struggling to host an influx of displaced people from last year’s fighting. Gach’s family are among some 100 residents who returned to her village, traveling by bus, boat and walking barefoot for hours to get there. Her village is buckling under the pressure of 18,000 displaced people — more than the village’s population — who fled their homes due to violence.

“Those people who

comefromKhartoum,they need support. But myself, we have no support. We are not able to support them. We need ... to give them the shelter, and food and medicine and clean water,” said Simon Ajak, head of the area.

Funding cuts before Sudan’s conflict, meant that organizations were already scaling back assistance. The World Food Program has only been able to reach 50% of people facing crisis levels of food insecurity and now has to reallocate help to those fleeing Sudan, further cutting assistance to communities in crisis, saidMary-EllenMcGroarty, representative and country director for WFP in South Sudan. The war is also disrupting supply chains. WFP has 7,000 tons of grain stuck in Sudan, enough to support 100,000 people for several months, she said.

AsSudan’sfightingcontinuesthere’sconcernthat it’ll inflate prices — the cost of a food basket has risen nearly 30% in South Sudanese states along the border since the conflict broke out — and that traders, who get much of their goods from Sudan, won’t have anything to sell.

“I brought this food from Sudan,” said Wawic Gatluak a shopkeeper in the market in Wunlueth, pointing to his stock of goods.“Whenthesethings finish, I can’t go back and get more,” he said. (AP)

Kenya court denies bail for suspected death cult leader

A Kenyan court on Wednesday denied bail for cult leader Paul Mackenzie, who authorities say ordered followers to starve their children and themselves to death, and extended his detention by 30 days.

The death toll climbed to145from133announced on Tuesday, and hundreds of people are still missing. Authorities are searching for remains in shallow graves scattered throughoutaforestwhere Mackenzie’s followers were living.

Mackenzie, leader of the Good News Interna-

tional Church, has not yet been required to enter a pleaafterhandinghimself

over to police last month. A lawyer representing Mackenzie, George Ka-

riuki, has said the selfstyled pastor is cooperatingwiththeinvestigation.

Magistrate Yusuf Shikanda said at a hearing in the port city of Mombasa thatMackenzieand17other people detained in connection with the deaths would not be granted bail because of concerns that their release would jeopardise investigations.

Wycliffe Makasembo, a lawyer for Mackenzie and his wife, who is also detained, said he would appeal against the decision. “The ruling was not within the law. It violates the constitutional rights of our clients,” Makasembo told Reuters.

Mackenzie was arrest-

ed earlier this year on suspicion of the murder of two children by starvation and suffocation, but was then released on bail.

Relatives of his adherents say that after he was freed, he returned to Shakahola forest and brought forward his predicted date for the end of the world from August to April 15.

Mackenzie surrendered to police on April 14 after police first raided the forest where the church was based, rescuing 15 people who had beenstarvingthemselves.

(Reuters)

If we do not act now, there is a high risk that vulnerable families will be stranded in inhospitable border areas for the duration of the rainy season, which will increase their suffering and the costs of providing assistance

Daily Mirror apologises to Prince Harry over unlawful action

THEpublisherofaBritish tabloid has apologised to Prince Harry for unlawfully seeking information about him, at the start of a lawsuit the royal is bringingoveralleged“industrial-scale” phone-hacking in which he is due to give evidence.

Harry, 38, and some 100 celebrities including actors, sports stars, singers and TV personalities, are suing publisher Mirror Group Newspapers (MGN), accusing its titles of habitually accessing private information by widespread phone-hacking, deception and other illicitmeansbetween1991 and 2011.

The claimants say the unlawful behaviour at the Daily Mirror, Sunday MirrorandSundayPeople had occurred with the full knowledge of senior editorsandtopexecutives who they say knew about it, approved it and actively covered it up.

The titles are owned by Reach (RCH.L).

MGN is contesting the allegations, arguing some claims have been brought too late, and rejecting most others such as saying there was no evidence Harry,knownofficiallyas the Duke of Sussex and the younger son of King Charles, was a victim of hacking.Itdeniesanyseniorfigureshadknowledge of unlawful acts.

However, in documents to the High Court

in London, MGN did admit on one occasion a private investigator had been engaged to unlawfully gather evidence about him at a London nightclub in 2004, saying it “unreservedly apologises and accepts that (Harry) is entitled to appropriate compensation”.

“The fee paid (75 pounds) suggests little work was involved,” said MGN’s lawyers, adding they did not know to what it related and it was not part of the Duke of Sussex’s claim.

Prince to give evidence

Harry, who was not present for the start of the hearing,hasbeenselected asoneoffourtestcasesfor the seven-week trial and is due to give evidence himself in person in early June, the first British royal to do so since the 19th century, according to local media.

“Prince or not, the blatantlyunlawfulandillegal methods that were used by the defendant to get everypieceofinformation about his life away from royal duties was quite

frankly appalling,” David Sherborne, the lawyer representing Harry and the other claimants, told the court on Wednesday.

“No one should have been subjected to that.”

Among the MGN figures Sherborne said must have known about the “industrialscale”hacking was high-profile media figure Piers Morgan, the Daily Mirror editor from 1995 to 2004 and a former presenter on CNN.

In his written court submission, Sherborne said former Mirror employees had recounted

how Morgan knew about it.

In an interview with the BBC, Morgan said he had never told anyone to hack a phone.

“There is no evidence that I knew anything about any of it,” he said. Asked if he was worried about the legal action, he

Harry, who was not present for the start of the hearing, has been selected as one of four test cases for the seven-week trial and is due to give evidence himself in person in early June, the first British royal to do so since the 19th century

said: “No, not at all.”

Coronation

The trial began just days after his father’s coronation on Saturday, at which Harry appeared only briefly and played no formalrole.Heisbelieved to have returned immediately to California where his son Prince Archie was celebrating his fourth birthday.

The Mirror case is just one of four Harry is cur-

US Army sergeant sentenced to 25 years for Black Lives Matter protester’s murder

A U.S. Army sergeant was sentenced to 25 years in a Texas prison on Wednesday for killing a man at a protest against police brutality in 2020, setting the stage for Governor Greg Abbott to make good on a pledge to grant a pardon.

DanielPerrywasfound guilty last month of shooting to death 28-year-old Garrett Foster, a U.S. Air Force veteran, at a Black Lives Matter rally in Austin, Texas. The demonstration came months after the police killing of George Floyd, an unarmed Black man, in Minneapolis.

Perry said he was acting in self defense when he shot Foster. His de-

fense team said he had no choice but to fire his handgun when Foster pointed a legally owned AK-47 at Perry, the Texas Tribune reported.

After Perry’s conviction, Republican Greg Abbott said he would seek a pardon for him. He said the state’s “stand your ground” law justified Perry’s actions and could not be “nullified by a jury or progressive district attorney,” Abbott said at the time. Prosecutors had asked for a sentence of 25 years, while the defense had sought 10 years, CNN reported. The sentence washandeddownbyState District Court Judge Clifford Brown.

Perry’s defense law-

yers said they were disappointedwiththesentence, but would focus to appeal-

ing the case and cooperatingwiththestate’spardon process.

“As part of the appeal we will be able to focus on theevidencethatwaskept

rently pursuing against newspapers,sayingitwas his duty to expose “criminality” committed by the tabloids.

Since stepping down from their royal roles in 2020, Harry and his wife Meghan have lashed out at both the press and the palace, including those working for his brother Prince William and his stepmother, Queen Camilla, saying they had colluded in media “lies”.

In its court submissions, MGN’s lawyers saidmanyoftheabout140 stories that Harry claims musthavecomebyunlawful means had in fact been briefed by royal aides.

“Many came from information disclosed by or on behalf of royal households or members of the royalfamily,”thepublishers’ lawyers said.

However, a document submittedbyHarry’slawyers detailed incidents of “highly suspicious” calls made by MGN to his friends, aides and family, including his sister-inlaw Kate, the Princess of Wales.

It also alleged that 267 payments were made to investigators to look into Harry and those close to him, including Charles, William and Harry’s late mother Princess Diana.

MGN’s behaviour had ultimately led his split from ex-girlfriend Chelsy Davy, the document added. (Reuters)

from both the grand jury and trial jury,” including alleged harassment by Foster, attorney Clinton Broden said in a statement.

Jose Garza, the district attorney for Travis County, where the case was tried and where Austin is located, is a Democrat.

The shooting came moments after Perry, who wasdrivingforUber,happened upon a group of protesters, including Foster, marching downtown. Foster and several others approached Perry’s vehicle after it stopped. Protesters told police that they feared they were being assaulted with the vehicle, according to media accounts. (Reuters)

EDUCATION

Why new government should tackle health, safety-environment in schools

By Charles Ogwo

IT is a proven fact that education is an essential tool for the eradication of ignorance and poverty in any country, Nigeria inclusive.

It is the process through which people are taught better ways of doing something or living, hence, education encompasses any form of learning which transforms and adds value to a person’s life which in turn leads to his benefit and the society at large.

However, in Nigeria this goal is hindered by many factors, such as poor learning environment, and lack of security needed for conducive learning especially at the basic cadres.

Without any iota of doubts, improving the educational system in the country is a challenge currently facing Nigeria today.

As Nigeria awaits the swearing in of new governments, many stakeholders in the education sector have expressed their desire that special attention be paid to the health, safety and secured learning environment especially at the primary and secondary school levels.

They argue that the new government should put in place a new management approach for safety and health in order to curb incidents of school burning, abduction of students and teachers, as well as sporadic shooting during school hours.

Manyparentsandguardians lament the failure of past governments to uphold therightsofchildreninthis regardbearinginmindthat healthandsafetyinschools is a fundamental human right of every child; hence every child needs to be protected by the authorities.

According to the United Nations Children’s Fund (UNICEF)report in 2022, sinceDecember2020,11,536 schools in Nigeria have been closed due to abductions and security concerns.

The UN children’s agency said1,436schoolchildrenand 17 teachers were abducted from schools, and 16 school children lost their lives.

Indeed, Nigeria can no longer afford to treat issues of health and safety in Ni-

gerian schools with levity.

This is because the country and the world in general is witnessing numerous winds of change that are dynamically affecting school service delivery.

From population explosion to unprecedented climatic change and terrorism, undue pressure is mounted on educational resources, amidst defined infrastructural deficits.

Manyparentsandguardians these days usually consider many kinds of factors when deciding which schools to enroll their children or wards.

Some of these are the quality of the instruction, availabilityoffacilities,and track record in external examinations, among others.

Be that as it may, some parents and guardians do not ask questions about health and safety management in schools before enrolling their wards.

According to Taiwo Folorunsho, an expert in health andsafetyenvironmentmatters, “Accidents can happen anywhere and schools are not an exception. There is a great need for a robust systemformanaginghealth and safety in schools.

Besides, schools need to do the needful to prevent unnecessary harm to children under their care. And the issues of health safety protection should be extended even to the public to secure the lives of many Nigerian children in public schools as well.”

Friday Erhabor, director of media and strategy at Marklenez Limited emphasisedtheneedtoensure

there is adequate security in place before parents make their choice of a school for their children and wards.

“The first thing to look out for is security. Is this schoolsafeandsecured?Secondpriorityistheschoolcalendar. Security and adherence to the school calendar arenon-negotiable,”hesaid.

Joy Akpovoko, a mother said; “As a mother of girlchildren, the first thing I look out for is to know how hygienic the school environment is for my children.

Does the school have a good toilet system, and then, the buildings around them. I try to avoid schools with residential buildings too close to it and lastly, the school must be fenced round with a major entrance gate,” she said.

Isaac Ojo Ogboadayegbe, a safety and risk expert is worried that a greater risk is involved in the combinedlowriskperceptionof children and of the adults around them who act as teachers and caregivers.

“While the low risk perception of children is understandable, not the same can be said of the adults who act as their teachers, school administrators and care-givers.

The combined low risk perception of children and of the adults around them is a greater disaster waiting to happen. This creates a high level of risk, albeit risk that can be and should be managed,” Ogboadayegbe noted.

The concept of safety in school, calls to mind a need for an environment

where all who play one role or the other, be it students, teachers, non-teaching staff, and/or visitors to the school, are secured and kept away from danger that could be caused by man, animal or nature.

Fundamentally, providing students with a healthy and safe learning environment where they could be protected from physical and emotional harm is foundational to the undertakings of schools.

A United States of America department of education publication describes a safe school as not just a place of learning equipped with advanced security procedures, but as such a place that has what it takes to help students develop assets that allow them succeed even in difficult circumstances.

And this should be the main concern of the country’s policy makers and implementersasitconcerns education or else the countrywouldbeinawild-ghostchase education-wise.

Experts believe that environmental conditions determine individual destinies and improve the lot of the individuals, hence, any education reformer should start with reconstructing the environment to benefit the individual student.

This is so because if a school’s state of health is adjudged good, but it is located in an insecure environment,suchschoolwould beconsideredwantinginits operational requirement.

And this situation is capable of reducing the public rating of such schools,

thereby severely reducing the attendant patronage.

It is really worrisome and frustrating that the government could not adequately regulate both private and public schools in ensuring sanity, safety and conducive learning environment.

This failure of the government is giving wellmeaning Nigerians sleepless nights bearing in mind that this is a subtle way of destroying the future of the country.

And if the future of these children is to be salvaged, then the need to look inward schools is a strong imperative of everyone including the government agencies and ministry irrespective of political differences.

The question is, how will the new government create the needed environment in the country’s various basic schools to favour these individuals, bearing in mind that components of the environment or facilities in the environment make up the environment?

To get the best out of the schools, the government should ensure that the social and physical learning environment is responsive to students’ needs by enabling their experiences and bringing about realistic expectations.

That is to say that the quality of teaching and learning should be enhanced by such an environment,andaswellensurethe safetyoflearnersandteachers, as a learner friendly environment is a proven approach to promote effective and efficient teaching for optimal learning.

Physical academic needs are met through provision of safe structure, adequate sanitary facilities, a balanced visual environment, appropriate thermal environment and sufficient shelter space, while emotional academic needs are met by creating pleasant surroundings.

Thiscanbestbeachieved by effective implementation of government policies on health, safety and environment for both private and public schools, and efficient monitoring teams to ensure the goals are attained.

POLITICS

Akin Osuntokun denies rift in Labour Party, calls Apapa faction provocateurs

AKIN Osuntokun, the Director General of the Labour Party Presidential Campaign Council, has denied the existence of any rift or misunderstanding in the Labour Party, calling Lamidi Apapa and his executives tools in the hands of the opposition to destabilise the party. Osuntokun labelled them as provocateurs paid to dent the reputation and unity of the party, especially as they challenge theoutcomeoftheFebruary 25 presidential election, which announced Ahmed Bola Tinubu of the All Progressives Congress (APC) as the winner.

Osuntokun, who took over the position as DG from Doyin Okupe, spoke on Arise Television on Wednesday, providing clarity to a number of pertinent issues, especially as regards the Supreme Court’s affirmation of the Osun State governor’s victory and the party’s chances at the presidential election tribunal.

He queried the logic behind the gestapo style of taking over leadership of a political party employed by Apapa, especially not fully exploring the full benefit of going through the National Election Council (NEC) of the party.

“Because of the nui-

sance that it has, I think you should ask yourself what the process is for a party member to become a legitimate or valued member of the party. Can a deputy national chairman wake up one day and start claiming that he has become the

chairman of the party?” he asked.

“Yet another person calls himself the national secretary. So there is the contribution of the media, and obviously this charade is being sponsored by our opponents, who are used to doing

this kind of thing.”

He claimed that prior to this development, nobody had ever seen Apapa and some of his executives at any of the party’s functions, so it became laughable to take them seriously and only see them as provocateurs.

“There are no issues in the party, as I said; I have never seen any of these guys in our party functions or in our elections. They just came out of nowhere and started serving as provocateurs,” he said.

He stated one of the serious acts that clearly identifies them as paid agents by those hell-bent on destabilising the party.

“Remember the other time that they issued a statement saying that they were disbanding the presidential campaign council; they were withdrawing our petition before the presidential election tribunal? Who does that to his party?” he asked.

Meanwhile, on the perceived celebration of some senior members of the APC over the Supreme Court judgement affirming Governor Adeleke’s victory as winner of the Osun July 19 gubernatorial election, Osuntokun was amused by such celebration from their quarters.

He said that it was difficult to take the APC party seriously, especially as they have mastered the act of distorting news in their favour.

He said, “I don’t see how those who have defrauded in collusion, maybe with INEC, and how that judgement and the logic of it will serve their purpose. Because if something is already in BVAS that you cannot change, I don’t think that APC should rejoice in that judgement.

“I don’t see how APC and its people are experts at distorting news. They can tell you that black is white, so it is difficult to actually respond to the kind of statements they make—something that is illogical. On what basis are we challenging the results.”

Adagunodo’s death huge loss to PDP – Makinde

GOV. Seyi Makinde of Oyo State has described the death of the SouthWest Zonal Chairman of Peoples Democratic Party (PDP), Chief Soji Adagunodo, as a huge loss to the party.

This is contained in a statement issued by Special Assistant on Print Media to the Governor, Moses Alao, on Wednesday in Ibadan.

The News Agency of Nigeria (NAN) reports that Adagunodo died on Monday in the United States of America at the age of 62.

Makinde said Adagunodo was a great party

man and administrator whose death would leave a huge vacuum in the party,

particularly in the SouthWest.

While expressing heartfelt condolences to the PDP family in Osun and the South-West zone, the governor commiserated with the immediate family of the late politician and prayed for the repose of his soul.

Makinde, who described the late Adagunodo as a politician with strong perseverance, vision and fighting spirit, said that the PDP family would greatly miss him.

“On behalf of the governmentandpeopleofOyo State, I express my condolences to the immediate

family of our late zonal chairman in the SouthWest PDP, Hon. Soji Adagunodo, Osun State PDP and the South-West PDP.

“Hon. Adagunodo was a great fighter and strong party administrator, who gave his best for the party and made countless sacrifices for its continued stability.

“His perseverance and vision were exemplary and his death will, no doubt, leave a huge vacuum in the party.

“It is my prayer that God will rest his soul and abide by the family and the party he left behind,” the governor said. (NAN)

I think you should ask yourself what the process is for a party member to become a legitimate or valued member of the party. Can a deputy national chairman wake up one day and start claiming that he has become the chairman of the party

Hon. Adagunodo was a great fighter and strong party administrator, who gave his best for the party and made countless sacrifices for its continued stability

By Kelvin Okojie

U-17 AFCON: Analyst urges Eaglets to strengthen defence against Burkina Faso

CHIKA Obi, a sports analyst, has advised the technical crew of Nigeria’s Golden Eaglets to strengthen the team’s defence in the quarter-final match against Burkina Faso at the ongoing 2023 African Under-17 Cup of Nations.

Obi gave the advice in an interview with the News Agency of Nigeria (NAN) on Tuesday in Ota, Ogun.

NAN reports that the Golden Eaglets will be playing against the Burkina Faso team in the quarter-final of the ongoing2023U-17AfricanCups of Nations in Algeria on Wednesday.

Thesportsanalystsaid the technical crew of the Golden Eaglets needed

Real Madrid controlled game against Manchester City, deserved to win, Ancelotti says

REAL Madrid manager

Carlo Ancelotti said his side deserved to beat Manchester City on Tuesday.

But he was still pleased with their performance after their UEFA Champions League semi-final first leg clash ended in a 1-1 draw.

Real Madrid struggled to get a foothold in the early stages but took control of the match after Vinicius Jr scored with a brilliant strike from distance in the 36th minute.

However, after Real Madrid created several goalscoring chances to extend theirlead,KevinDeBruyne powered home a rasping low shot from distance in 67th minute.

“We competed, we fought, I think we deserved to win. It was a good match and we head to the second leg with a good feeling.

“The result doesn’t reward us for what we did on the pitch, but this tie will be close until the last minute,” Ancelotti told reporters.

“They had more possession in the first 30 minutes, but that didn’t worry us, because we were well positioned at the back and waited to make an effective transition.

“In the second half, we managed to come out from the back better… and we should have won, but the sensations are good.”

Ancelottiisusuallycalm

and composed on the touchline but he lost his temper after Manchester City’s goal.

He was shown a yellow card for bitterly complaining with Portuguese referee Artur Dias.

The Italian felt the ball went out of play in the build-up to Manchester City’s equaliser.

“The referee was too distracted,” Ancelotti told a press conference.

“In the previous play it was a corner-kick for us that he didn’t see. And the ball was out of play, the technology in the images shown by BeIN Sports shows that clearly.

“It’s strange that they didn’t see it. He gave me a yellow card, and I wasn’t even playing. Some of the players in the pitch deserved more cards. The referee wasn’t very attentive.”

Ancelotti, however, said he was satisfied with how histeamplayedandthatthe tie was wide open.

“Wehavetoplaytheway we played tonight,” he said.

“They pushed us a bit, but the strategy was good, we defended and controlled the ball. We are satisfied and looking forward with good feelings to the second leg.”

Manchester City host Real Madrid in the return leg in Manchester next Wednesday.(Reuters/NAN)

to strengthen the defence of the team because the two goals scored against them by South Africa were cheap goals and due to defensive errors.

Obi urged the Golden Eaglets not to underrate Burkina Faso as no team in Africa could be underratedanymoreinfootball.

“I wish to commend them for their brilliant performancesandcoming frombehindtwiceagainst the Moroccan team, but they have to put that one behind them and focus on the quarter-final match,” he said.

Obi also advised the Nigeria Under 17 team to utilise their chances against Burkina Faso in order not to crash out of the tournament. (NAN)

Lagos Squash Classics: Onaopemipo, Gabriel, others qualify for 2nd round

NIGERIA’S number one ranked squash player, Adegoke Onaopemipo, began hiscampaignattheongoing Lagos International Squash Classics with a resounding win over Brice Nicola at Teslim Balogun Stadium, Surulere.

The News Agency of Nigeria(NAN)reportsthatthe tourney which served-off May 9 began on an impressive for Onaopemipo who defeated Nicolas Price from France, winning in three straight sets in the opening round of the tourney.

The 23-year-old won 115,11-5 and 11-7 to aggregate 3-0.

“It’s a good start and I want to maintain this win for as far as I can go at the tournament, I’m taking it easy, one game at a time.

“The tournament is an opportunity to test myself with some of the best players in the world who are here present,” he said.

Other Nigerians who also advanced to the second round are Abel Shedrack whoedgedJanWipperfurth from Germany 3-1 (8-11, 11-4, 11-4, 11-5) while Femi Shedara lost 3-1 (11-13,4-11, 12-10) to his countryman Kehinde Temitope.

Wipperfurth was unable to actualise his wish of moving to the second round of the tournament, “all I wanted was to move past the first round; I need to work harder,” he said.

Olufunmilayo Gabriel also sealed his secondround spot with a 3-0 (11-

Manu Paquemar, a French journalist who lost in the first round of the event, blamed the humid weatherinLagosandhisinability to train at the glass court prior to his game for his 3-0 defeat to 19-year-old Seif Tamer from Egypt.

Tamer won the encounter 11-7, 11-8, 12-10.

“It was really hot, and I was unable to train on the court which made it difficult. I made some errors, but it’s okay, better luck for me next time.

“It was not the best of games from me. I was unlucky,mhe’s not that better. The weather here (in Lagos) and the fact that Icouldnottrainontheglass court before my game affected me a lot,” said.

Tamer, who is the fifthbest player in Egypt, said it was a great feeling for him winning his first-ever squash game outside the shores of Egypt.

He hopes his bright start

can lead him to glory at the tourney dubbed the ‘Challenger Tour.’

“It is a good experience for me to win my first game outside Egypt. I played through the middle and made him do the running throughout the game. I hope to continue that in my next game and hopefully win this event.

“I’m looking forward to the draws of the next round,” he said.

India’s Pradeep Malik also lost 3-0 (11-1, 11-1, 113) to Aaron Allpress from England just as Egypt’s Omar ElKattan beat Henrik Mustonen from Finland 3-0 (11-5, 12-10, 12-10).

The tourney which features players from Germany, France, England, Egypt, France, Hong Kong, Czech Republic competing alongside Nigeria’s home-based stars will end on May 13.

The winner in the men’s category will win 12,000 dollars, while the winner in the women category will get 6,000 dollars. (NAN)

6,11-1, 11-2) win over Faruq Suliamon 3-1.

SPORTS

UCL: Inter dominates possession of Milan derby, beats AC Milan 2-0

By John Salau

ON the night where the Milan derby lights up Europe, it was Inter Milan that dominatedplayatSan Siro putting two goals past AC Milan in the first 10 minutes of the game.

Inter did the damage in thefirsthalfandheldonto the end of the encounter at the San Siro to place a foot intheChampionsLeague’s Istanbul final in June.

Edin Dzeko and Henrikh Mkhitaryan scored as Inter Milan took charge

oftheirChampionsLeague semi-final against AC Milan with a 2-0 first-leg win at San Siro.

Milan improved after thebreakbutwillbegratefultostillbeinreachofthe 2010 champions after a disappointingperformancein front of their supporters.

Milan, bidding for an eighth European Cup trophy and a first final since their 2007 success, were dealtablowbeforekick-off with star forward Rafael Leaoruledoutbyamuscle

injury and they were soon blownawaybyablistering start from Simone Inzaghi’s side.

Inter were ahead after just eight minutes as former Manchester City striker Dzeko out muscled Davide Calabria from Federico Dimarco’s corner andthrashedavolleyfrom 12 yards past the helpless MikeMaignanintheMilan goal.

The Milan derby is one of the fiercest rivalries in world football that will see

both teams play out on the biggest stage of Europe most prestigious tournament over the next week.

Both legs will be played at the San Siro, which is shared by the two Italian giants as AC Milan and Inter Milan clash in the Champions League semifinals.

Before the tie both teams were seperated by just two points in the Serie A to further deepen the rivalryoftheSanSiroteams.

TheMilanrivalsbattled for the right to face either RealMadridorCityinnext month’s final in Istanbul, witheachhavingwontheir respective Serie A “home” gamethisseasonandInter triumphing in the Coppa Italia in January, but with both previous encounters in Europe’s biggest club competition going the way of Milan.

The fierce rivals had not met in the Champions League since a quarterfinal clash in 2005, which was abandoned after 73 minutes of the second leg whenasectionofInterfans hurledflaresontothepitch – one of which struck and injured Milan goalkeeper Dida.

TotalEnergies U17 AFCON: Senegal thrash South Africa 5-0 to secure World Cup ticket

SENEGAL have booked Africa’sfirsttickettothe FIFA World Cup after thrashing South Africa 5-0 in the quarter final of the ongoing TotalEnergies U17 Africa Cup of Nations (AFCON) at the Nelson Mandela Stadium in Algiers on Wednesday night.

A pair of first half own goals by each of South Africa’s central defenders followed up by Mamadou Sadio’s goal and skipper Amara Diouf’s brace saw the Teranga Cubs continue with their impressive performance in the competition.

This is the first time ever that Senegal have progressed beyond the group stages of the U17 AFCON and by extension, the first time they have ever qualified for the World Cup.

Senegal scored three goals in seven minutes late in the first half to

North

Africa

derby:Ouazanebracefires

Moroccointosemi-finalasAlgeriafalters

TWO goals from Zakaria Ouazane and another from Adam Chakir inspire Morocco to a victory against Algeria in the North Africa derby.

Ouazane28and57minutes goals was enough to fire Morocco into the semi-final of the ongoing TotalEnergies Africa Cup of Nations (AFCON) to secure the continent’s second World Cup ticket.

Morocco dominated the North Africa derby easing past their fellow North Africans 3-0 to secure their semi-finals spot and by extension theWorldCupcomingup later in the year.

Chakir scored a 87 minutes goal to cement Morocco’s place in the last four of the tournament and condenmed the host to a horrible and painful exit in front of

theit home fans.

Algeria coach Arezki Remmanehadhopedthat the city of Constantine will favour his boys over their North African neigbours in the AFCON U17.

The winner of this duel, not only makes the semi-finals,butearnsone of four slots accorded to Africa for this year’s U17 FIFA World Cup.

Algeria were seeking their second qualification to the global showpiece, having done so in 2009, when they last hosted the U17 tournament.

“Constantine has a special place in Algerian football history and not just for the national team but for the clubs as well. So many special things have been accomplished here and we hope it is goingtobethesameforus,” Remmane said.

completely break down a spirited fight from South Africa.

Waylon Renecke was unfortunate to turn the ball into his own net in the 36th minute as he tried to cut out a headed ball just inside the six yard box.

Three minutes later, his central defense partner, skipper Benjamin Wallis, also put the ball into his own net as he tried to clear out after the keeper had spilled a

freekick from Diouf.

Senegal made it 3-0 in the 43rd minute when Sadio scored with a brilliant half volley from the edge of the box after Abdou Aziz Fall had teed up the ball for him.

With a 3-0 cushion at halftime and a complete dominance that had seen South Africa fail to land a ball on target, the West Africans had the job half done.

In the second half, they needed just nine

minutes to get their fourth, though it had to be given by the Video Assistant Referee (VAR) which was being used at the tournament for the first time.

A run by Omar Sall on the left caught the South African backline off balance, the latter squaring for Diouf to slam home from inside the box. He had initially been flagged offside, but upon review, the VAR gave the goal.

In the 71st minute, Diouf who had enjoyed a brilliant performance cappeditoffwithabrace when he headed home at the backpost after a brilliant cross from Ibrahima Diallo found his perfect run.

With a 5-0 cushion, South Africa’s fighting spirit was hugely dented, and Senegal eased through the remaining minutes with utter dominance.

TotalEnergies U17 AFCON: Burkina Faso to rely on teamwork against Golden Eaglets

BURKINA Faso head coachBrahimaTraorehas stressedontheimportance of teamwork as his team prepares to take on the Golden Eaglets of Nigeria in the quarter finals of the TotalEnergies U17 Africa Cup of Nations (AFCON) tonight in Algiers.

Traore said they expect a difficult duel against the Golden Eaglets and disclosed that teamwork will bethecrucialingredientto take them through.

“We go into the match with calmness but the enthusiasm to do well and achieve qualification to the World Cup. But, I have insisted with the players that we have to play together as a team and not

individually. We want to achieve collectively as a team,” Traore said.

They face Nigeria once again, having come up against the Golden Eaglets in the final of the WAFU Zone B qualification tournament, with Nigeria winning 2-1.

But the coach expects a different match up altogether. “Both teams have changed and most of the players who played then are not in the team. It will be a different match and definitelytougher,”Traore stated.

He has reiterated that just like any other team in the last eight, they are motivated by the opportunity of qualifying for the World Cup.

INSIGHT

The problem with comparing Africa to Asia

By Nosmot Gbadamosi

CAN Africa replicate Asia’s success?

I was recently asked at a talk for The China in Africa Podcast whyAfricancountriescouldnot carbon-copy China’s economic development. As Wade Shepard notedinForbesin2019:“Itisnot lost on many African leaders that hardly 30 years ago China was in a similar place that they are now—a backwater country whose economy made up hardly two percent of global GDP.”

It is a question analysts continue to revisit. More than two decades ago, New York Times columnist Nicholas Kristof arrived at the erroneous conclusion that African countries were simply more corrupt than their Asian counterparts—an argument he has repeated more recently. But economically successful countries such as Thailand and Indonesia also have high levels of corruption, according to Transparency International’s Corruption Perceptions Index.

In 2020, Noah Smith wrote an op-ed in Bloomberg under the headline “What Africa Needs Now Is Its Own Singapore.”

Smith noted “Southeast Asia was once almost completely colonized by European powers, and much of it was devastated by a series of wars and internal strife in the mid-20th century … But in the 2010s, growth accelerated all across the region.”

And earlier this year, Howard W. French argued in Foreign Policy that Nigeria’s incoming government should emulate the reforms of post1980s China to tackle myriad systemic economic problems.

But comparing large African countries such as Nigeria to China is not straightforward. That’s because greater ethnic divisions, debt burdens, and democratized politics have complicated Africa’s path to development. Authoritarian governance and a more homogenous population have made it easier for China to progress.

Asia does have a similar legacy of European colonialism, significant populations living in absolute poverty, and high levels of corruption. Yet, in a single generation, China has raised the wealth of its citizens by becoming a manufacturing powerhouse able to capitalize on cheap labor but also by investing in education and health.

The Shenzhen Special Economic Zone, established just north of Hong Kong in 1980, has today attracted more than $30 billion worth of foreign investments. China progressed from subsistence farming to garment manufacturingandupthevalue

chain focusing on electronics. Some African countries, including Nigeria and Ethiopia, have attempted this model.

Ethiopia, which is following this path and is soon to become the third-largest African economy, had been able to leverage U.S. preferential trade mechanisms, such as the African Growth and Opportunity Act, and the development of special economic zones to attract clothing manufacturers from Spain, China, and the United States. But the civil war that broke out in 2020 scuppered its rise.

It has been attempting to win back the U.S. trade agreement following its peace deal with Tigray. Around two-thirds of Ethiopia’s apparel exports had gone to the United States, and suspension from duty-free access saw firms shift location back to Asia. But that shift could be reversed as Ethiopia’s

Nigeria has repeatedly sought to diversify its economy away from resource extraction since independence.

But as a large multiethnic society, Nigerian leaders are seemingly paralyzed within the divide-andconquer method of governance inherited from colonial power Britain

lower wages offer a competitive advantage over Bangladesh and China.

In 2001, when Nigeria opened its first free trade zone, north of the port of Calabar in Cross River State, the results were unimpressive. Despite having a large domestic manufacturing industry, it couldn’t attract the level of investment needed for export. Since 2011, foreign inflowsofinvestmenttoNigeria have dropped from $8.8 billion in2011tojust$3.3billionin2021.

Nigeria has repeatedly sought to diversify its economy away from resource extraction since independence. But as a large multiethnic society, Nigerian leaders are seemingly paralyzed within the divideand-conquer method of governance inherited from colonial power Britain.

Today, Nigerian leaders use the same ethnic, religious, and cultural divisions that once aided colonization as a means to win elections. President-elect Bola Tinubu’s recent election winwasmarredinreligiousand xenophobic anti-Igbo rhetoric across the country against Labour Party candidate Peter Obi, who is Igbo. This has hindered the government’s ability to implement radical development plans.

Film and music are Nigeria’s biggest non-oil exports, but these sectors operate outside government oversight and help. In 2016, Nigerian lawmaker Abdulmumin Jibrin managed to secure $1 million in federal government investment into Kanywood, the country’s Hausa-language film industry. But the Nigerian government quickly dropped funding after a backlash from politically influential religious leaders against a movie industry that supposedly encouraged “immorality.”

As Zainab Usman, the director of the Carnegie Endowment for International Peace’s Africa Program, writes in her book Economic Diversification in Nigeria, “an ambitious million-

dollar plan to elevate Nigeria’s Hausa movie industry was savagely derailed by a vocal minority.”

Nigeria has more than 250 ethnic groups, but none is dominant. The largest group— the Hausa—makes up just 30 percent of the population, the second-largest—the Yoruba— only 15 percent. Even China, a large polyglot society composed of around 56 ethnic groups, has a 91 percent Han Chinese population. And 97 percent of Singapore’s 5 million people come from just three ethnic groups—Chinese, Malay, and Indian. Singapore has managed to prevent ethnic divisions through mandatory ethnic quotas, which could work for Nigeria.

But China is a single-party state and Singapore a de facto one-party state, meaning political or ethnic minorities have little say in development measures. By contrast, community opposition often arises in Nigeria along ethnic and religious lines—problems that Chinese and Singaporean officials don’t generally wrestle with. The methods China has used to suppress ethnic differences such as in Tibet and Xinjiang are not ones that African countries should ever seek to emulate.

Higher risk perceptions have led to higher debt burdens compared with Asian countries, such as Myanmar, that also have security crises. Nigeria’s security crisis led to a dearth of foreign investors in the country. “What is really debilitating to foreign direct investment of the type that can drive industrialization is urban crime, criminal gangs, which are now very widespread,” Usman told Foreign Policy.

The lack of FDI has curbed electricity and road builds. And “without steady, reliable electricity, Nigeria is going to go nowhere,” Usman said.

The success of China has also allowed its neighbors better access to export markets and FDI, explained Ovigwe Eguegu, a China-Africa policy analyst at Development Reimagined. Francophone Africa’s neocolonial relationship with France has created structural issues very different from Asian countries. It “hasn’t really allowed [African nations] the agency and flexibility to control their affairs,” Eguegu said.

Mali, the Central African Republic, Niger, and Burkina Faso—countries using the French-backed CFA franc currency—are all in the bottom 10 of the U.N. Human Development Index. Deeply unpopular regimes are kept in power through aid and military en-

gagement from global powers: for example, French and U.S. support of Chad’s military leader, Mahamat Déby. Coups inevitably disrupt progress.

European proximity and abundant mineral resources have enabled “aid convoys, and all manner of plunder masquerading as goodwill,” Vik Sohonie argues in Africa Is a Country. “The streets of Bangkok and Hanoi are lined with Toyotas and tourists, not wide-eyed youths in armored vehicles guided by white burden.”

Africa is riddled with an unaccountable aid industry that holds back the development of “robust public systems,” he writes.Westerngovernmentaid in particular is more focused on achieving preferential resource deals such as those offered by Britain and France. “$40 billion more illicitly flows out of Africa than incoming loans and aid combined,” Sohonie notes.

The comparison with China is ultimately flawed. “The appeal of China is also the appeal of Malaysia, Singapore, and Indonesia to some extent. The idea that development can be top-down,” said Ebenezer Obadare, an Africa scholar at the Council on Foreign Relations. In other words, “that you need a soft authoritarian,” he added. “The anxiety that is producing the reasoning is legitimate, and that anxiety is this: African countries have not picked up in terms of economic development. People see the disconnectbetweenthepotentialof the continent and the reality on the ground.”

Experts are deciding, “given how difficult it has been for democracy to put down roots in many African countries,” that “maybe we really shouldn’t bother,” Obadare said. Yet Afrobarometer polls show that Africans want more democracy, not less.

Furthermore, countries such as Morocco are charting their own course. Rabat has rapidly accelerated electrification through renewable energy reforms. This has allowed Morocco to accelerate manufacturing of vaccines, electric vehicles, and batteries, which has resulted in increased private investment flows. Since 2018, Morocco has surpassed South Africa as the biggest African exporter of passenger cars. Rabat’s efforts prove that Africa doesn’t need to be Asia to carve out economic success, but African countries must instead find a way to solve their own unique set of problems. This