BusinessDay 16 Jun 2019

Page 1

BDSUNDAY BUSINESS DAY

www.businessday.ng Sunday 16 June 2019

Niger Delta requires $500m to remediate over 3,000 oil spill damage – Study

p.15

42 Page

Governor Babajide Sanwo-Olu’s promise:

“I will rid Apapa of gridlock in the first 60 days of my government.”

Market & Commodities Monitor Brent Oil

5yr Bond

$62.01

0.08 14.63%

Gold

10yr Bond

$1,344.80

0.00 14.66%

Cocoa

20yr Bond

00.00 14.60%

BDLife Sunday 16 May 2019

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Nigeria’s democracy has stagnated since 1999 – Ajaero

@Businessdayng

Vol 1, No. 268 N300

??Cement, banks, oil & gas top as p.17

listed firms pay N783bn dividends

pp.34 41.

20 years of democracy:

APAPA GRIDLOCK

$2,496.00

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How elite conspiracy hampers Nigeria’s progress ZEBULON AGOMUO, OBINNA EMELIKE & INIOBONG IWOK

T

he elite group in Nigeria has been called upon to allow governance to positively affect the poor masses of the country. The call is against the backdrop of the damning

assessment of the 20 years of democratic experience in the country, which is said to have left a greater number of citizens poorer and more disadvantaged than they were before the country’s return to civil rule in 1999. Some observers who made the call alleged that successive administrations have ended up creating pockets of individual

super-rich and political dynasties in the country rather than spreading the wealth of Nigeria. Majeed Dahiru, a public affairs analyst, said the issue of the emergence of political dynasties and elite conspirators in the Nigerian political space is only a symptom of a big ailment, and that ailment is the Nigerian political system fundamentally

premised on sentiments of geography, ethnicity and religion, which he noted are exploited by the elite. “It is these sentiments that the leaders take advantage of to convert our political process into a criminal franchise, which has led to state capture for selfContinues on page 2

inside

LIFE&LIVING

ARTS Travel ENTERTAINMENT @Businessdayng

BDSUNDAY 19

PROLOGUE

Apapa: ‘Walking through the valley of shadow of death’

S

ince 2013, a journey to or from Apapa (a city in Lagos that houses Nigeria’s two busiest seaports), has consistently been a risky venture. The menace of container-bearing trucks and petroleum products tankers on that route has led many Nigerians to their early graves, while a large number of other victims remain permanently confined to their beds as a result of mortal injuries they

sustained in some of the life-threatening accidents that have become rampant on Apapa roads. Whether you are coming from Mile 2 or Ijora end, it is a story akin to the biblical expression of “walking through the valley of shadow of death”. Past and present efforts of various levels of government have not availed much, though hope is high, with the commitment by the new administration in Lagos State to end the menace in 60 days, which remains 42 days from today.

Remembering Ras Kimono, who was never ‘Under Pressure’ P.25

Child-beggars on the rise in Lagos P.41

With $127m in earnings, Messi tops list of highest paid athletes P.42

The EU Election Observation Mission addressing a press conference in Abuja Saturday, saying that Nigeria’s 2019 polls were not transparent. The observer mission had last Monday, issued a preliminary report, saying that Nigeria’s presidential and National Assembly elections held on Saturday, February 23, was “marked by serious operational challenges”. The statement signed by the EU Chief Observer, Maria Arena, pointed out that although the Independent National Electoral Commission (INEC) “operated in a difficult environment”, it “made a number of improvements since 2015, including the introduction of continuous accreditation and voting”. Arena, however, noted that there were “serious shortcomings in INEC’s operations” and Mahmood Yakubu, INEC chairman there was the need “for regular communication and transparency”.

Damning: EU knocks INEC over 2019 elections Says polls marked by severe operational, transparency shortcomings, violence 150 killed during exercise Condemns illegal removal of Onnoghen

Innocent Odoh, Abuja

T

he European Union Election Observation Mission (EU EOM) to the 2019

general election in Nigeria has said that the elections were marked by severe operational and transparency shortcomings, violence that claimed about 150

lives and low voter turnout. Head of the EU EOM to Nigeria, Maria Arena, disclosed this during the presentation of the EU final report on the elections

in a press conference in Abuja on Saturday. She said that the mission concluded that the systemic failings seen in the elections, and Continues on page 2


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BusinessDay 16 Jun 2019 by BusinessDay - Issuu