Tuesday, may 17, 2016 binder1 by Newtelegraphonline

Forex scarcity: 75 ships stuck off Nigeria's coast

lOil rises on outages lMilitants arrested Adeola Yusuf

t least 75 ships with 2.5 million tonnes of Premium Mo-

tor Spirit (PMS) are stuck off Nigeria’s coasts and unable to unload their cargoes, signalling that another fuel crisis may be

looming. The ships are being held over the inability of the (black) parallel market/ bureau de change to

meet the $18 million per day supply of dollars for 45 million litres daily fuel importation. The growing fleet of tankers, which are unable to unload their cargoes

are, according to Reuters, waiting for importers in Africa's biggest economy to find the dollars they need to pay for the cargoes. Quoting ship tracking data and fuel traders, the

news agency reported that some of the vessels arrived a month ago and their frustrated owners have almost given up hope and started to offer their fuel to buyers CONTINUED ON PAGE PB

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Tuesday, May 17, 2016

Appointments: Presidency rejects APC’s list }3

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Vol. 3 No. 818

Odigie-Oyegun

Principal docked for stealing N1.2m WASSCE fees }9

PDP convention: BoT makes U-turn, backs Sheriff }5

@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com

Sheriff

Petrol, electricity prices push April inflation to 13.7% }4

N150

Adeosun

Fireworks over fuel hike lReps in rowdy session as Kachikwu defends policy lPDP: Nigeria lost N9trn to APC’s wickedness }2 lFG, Labour leaders in marathon meeting lJoe Ajaero's faction shut out of parley 1

1, 3 & 4: Members of the House of Representatives in a rowdy session over the hike in pump price at the National Assembly in Abuja…yesterday

2: Minister of State for Petroleum Resources, Mr. Ibe Kachikwu (second left); Senior Special Assistant to the Government on National Assembly Matters, Senator Ita Enang (third left) and other government officials at the National Assembly in Abuja… yesterday. PHOTOS: ELIJAH OLALUYI

Possession of arms: Court jails Fulani herdsmen for 10 years

lBenue orders herdsmen to vacate state lEnugu bans night cattle grazing }3&43 Testing both hands for blood pressure could save lives –Research }6

NEWS

TUESday, May 17, 2016 NEW TELEGRAPH

Strike: FG, Labour leaders in marathon meeting Yekeen Nurudeen Abuja

etermined to avert tomorrow’s planned showdown by the Organised Labour to protest the increase in pump price of premium motor spirit (PMS) also known as petrol from N86 to N145 per litre, repre-

sentatives of the Federal Government and leaders of the Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and unions in the oil and gas sector were locked in a closed-door meeting yesterday. The meeting was at the instance of the Secretary to the Government of the Federation (SGF), Engr. Babachir Lawal.

The meeting, which was scheduled to kick off at 3:30p.m., did not start until 7p.m. even as there was a mild drama when the Ayuba Wabba-led faction of NLC insisted that they would not attend the meeting if Joe Ajaero and his team were allowed in. After series of arguments, Ajaero and his team comprising of the National Union of Petro-

leum and Natural Gas Workers (NUPENG) were persuaded to stay out of the meeting. The meeting was presided over by the SGF. In attendance on the Federal Government's team were the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu; Minister of Budget and National Planning, Senator Udoma Udo Udoma; Minister of Solid

Lagos State Governor, Mr. Akinwunmi Ambode (right), receiving a sample of the crude oil discovered in the state from the Group Managing Director, Yinka Folawiyo Petroleum Company Limited, Mr. Tunde Folawiyo, in Lagos …yesterday.

Reps in rowdy session as Kachikwu defends fuel hike lHouse sets up 17-man committee to meet NLC, others lMinister: Subsidy removed since Jan 2016

Philip Nyam Abuja

or about 35 minutes yesterday, the hallowed chambers of the House of Representatives became rowdy as members of the opposition Peoples Democratic Party (PDP) kicked against the admittance of the Minister of State for Petroleum, Dr. Ibe Kachikwu, into the chambers. The House sat in a special plenary session to receive briefs from the Petroleum Minister on the hike in pump price of petrol from N86 to N145 per litre. The session, which commenced at 12:24p.m., however turned rowdy after a motion by House leader, Hon. Femi Gbajabiamila, to admit the minister was ruled in favour of ‘ayes’ by Speaker Yakubu Dogara. The PDP lawmakers, each clutching a national flag, started protesting and singing “All we are saying is, save Nigeria”. Efforts by the deputy speaker, Sulaiman Lasun, and other principal officers to pacify the protesters was met with more protest from the lawmakers of whom chanted: “Who will save Nigeria?” Others responded: “PDP”. Conversely, at 12:35p.m., members of the ruling All Progressives Congress (APC) also started chant-

ing their own songs of “APC Change” while PDP lawmakers lashed back with chants of “shame”. This forced the House to resolve into an execution session that lasted over an hour following which the minister was admitted into the chamber and subsequently briefed the legislators. The PDP caucus had met on Sunday night and Monday morning, where it took the decision to kick against listening to the minister until the government reverts to the N86.50 pump price. After a gruelling interaction with the Minister of State for Petroleum, Dr. Ibe Kachikwu, the House of Representatives constituted a 17-member committee to interface with the Federal Government, labour representatives and other stakeholders to resolve the crisis arising from the removal of petroleum subsidy. The House also appealed to the Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and other stakeholders to suspend their planned strike action pending the outcome of the interface with the committee. The 17-member committee, led by the chief whip, Alhassan Garba Ado Doguwa, is to submit its report in five days.

Earlier, while addressing the House, Kachukwu disclosed that the government had stopped paying for subsidy since January 2016, but due to the prevalence of queues in fuel stations, subsidy was provided for in the month of April to ease the scarcity of the product. He said: “Subsidy was actually removed in January and we had an over recovery from January to March. But even with our best efforts in April, the queues persisted, so subsidy re-emerged in April at the cost of N12 billion.” Explaining why the government took the decision to remove subsidy and hike the price of fuel to N145 per litre, the minister said: “We had no other option because of renewed sabotage and pipeline vandalism in the Niger Delta drastically reduced national crude oil production to 1.4 million barrels per day as against 2.2 million barrels per day planned in 2016, thereby reducing the income to federation account.” Responding to questions from the lawmakers, Kachikwu, who doubles as Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), disclosed that the NNPC lacked the logistic capacity in terms of funding and volume to meet the increase in supply leading to the current shortage of

the product. He disclosed that with the liberalisation of the market and government’s commitment towards resuscitating the refineries, importation of fuel will cease by 2018. His words: “Consequently, NNPC commenced forward buying cargoes on credit and utilisation of federation crude, which is already declining, thereby creating a situation where there is practically insufficient crude volumes to meet the domestic product requirement. “Our best intelligence reveals to us that in the next 30 days, the following consequences were imminent if the situation was not addressed: inability of the three tiers of government to pay salaries or meet their financial obligations, increased scarcity of the product leading to longer queues and continuous upward surge in the price of petroleum products across the nation as hoarding and smuggling continue. “There is no provision for subsidy in 2016 appropriation. As at today, the current PMS price of N88.50 gives an estimate subsidy claim of N13.7 per litre, which translates to N16.48 billion monthly therefore, we were left with no option than to liberalise the market”.

Minerals development, Dr. Kayode Fayemi; Minister of Information and Culture, Alhaji Lai Mohammed and Minister of Labour and Employment, Senator Chris Ngige. Others are Governor of Edo State, Adams Oshiomhole; Special Adviser to the President on National Assembly, Senator Ita Enang and other government officials. The Labour team was led by the NLC President, Wabba, who was joined by the General Secretary of the NLC, Dr. Peter OzoEson, President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Olabode Johnson; President of the TUC, Bobboi Bala Kiagama, and Acting General Secretary of the TUC, Simeso Amachree, among others. Oshiomhole had earlier met with Vice-President Yemi Osinbajo at the Presidential Villa, possibly to harmonise Federal Government's position before they went for the closed-door meeting at the SGF office. NUPENG and PENGASSAN had earlier endorsed the deregulation policy of the Federal Gov-

ernment. Addressing the meeting before going into a closeddoor session, the SGF said the decision to deregulate the petroleum sector was taken in the best interest of Nigerians, adding that President Muhammadu Buhari empathizes with Nigerians over the short term consequences of the decision. He said to deliver on his campaign promises, the government realised that painful decisions had to be taken, saying, "This could be one of such painful decisions.” Lawal said due to the unavailability of foreign exchange for marketers to import the product, the NNPC had to bear the burden of importation, pointing out that in doing so, it had to overshoot its crude allocation, therefore reducing crude import and subsequent reduction of the available resources to the federation account. He said with the decision to deregulate, the government believed that there will be adequate supply of products which will eventually force down prices, boost investment in the sector and provide CONTINUED ON PAGE 4

Nigeria lost N9trn to APC’s wickedness – PDP lawmakers Philip Nyam and Chukwu David Abuja

he Peoples Democratic Party (PDP) caucus in the National Assembly yesterday accused the ruling All Progressives Congress (APC) of causing the country to lose about N9 trillion due to its opposition to the removal of petroleum subsidy by former President Goodluck Jonathan in 2012. Rising from its caucus meeting last night, PDP lawmakers in the Senate and House of Representatives queried the position of President Muhammadu Buhari's administration, alleging that the subsidy removal was against the stand of Mr. President and the APC as affirmed by the Vice President, Yemi Osinbajo. Senate Minority Leader, Godswill Akpabio, and House Minority Leader, Leo Ogor, demanded an apology from the APC, saying the former president was blackmailed into abandoning the policy leading to colossal loss of funds. “Today, what we ought to have done four years ago is what they are doing which is a very sad disappointment. They have caused this country close

to N9 trillion of taxpayers’ money. "The Petroleum Products Pricing Regulatory Agency (PPPRA’s) template shows that due to the drop in the crude oil price internationally, we are making a profit of about N1.40k at the pump price of N86.50. It cannot be deregulation because there is no thorough and fixed price if it is deregulation. It is price fixing; it offends the Price Control Act and PPPRA Act because those bodies are not properly constituted. So, it is total disregard of our extant laws. "The government has wickedly transferred result of their insufficiency to the Nigerian people. This is clearly a return of the 1984 Import License Regime where forex is allocated on basis of who you know (favouritism) crude economics.”

80,093

The official capacity of Estadio Monumental, Lima, Peru. Source: Businessinsider.in

£0.15m

The amount of money spent by Man City in the January 2016 transfer window. Source: 101greatgoals.com

NEWS

TUESday, May 17, 2016 NEW TELEGRAPH

Possession of arms: Court jails Fulani herdsmen for 10 years Dominic Adewole, Kenneth Ofoma and Charles Onyekwere

ithout an option of fine, an Asaba High Court has sentenced two Fulani herdsmen to 10 years imprisonment each with hard labour over illegal possession of arms. The convicts, Hassan Abidu and Yakubu Salem, who are nomads, were found guilty of using arms to terrorise farmers in Osimili North Local Government Area of the state. The Attorney-General of Delta State, Mr. Peter Mrakpor, prosecuted the herdsmen on a two-count charge of illegal possession of firearms and attempted murder, punishable under Section 3(1) of the Robbery and Firearms (Special Provision) Act Cap R.II, Laws of the Federation of Nigeria, 2010. According to the prosecution counsel, the convicts, in company of four others, on February 23, 2015, were sited around the popular Powerline in Ibusa, armed with dangerous weapons, including firearms, before a team of Anti-Robbery Squad was alerted. The police squad swiftly arrested Hassan Abidu and Yakubu Salem who were in possession of two single barrel guns without license, which the herdsmen claimed they used for hunting.

2,616

The number of deaths (per 100,000) due to Alzheimer’s Disease in New York State in 2010. Source: Alz.org

The duo also claimed that they did not know that it was an offence to carry arms without license. But the court, presided over by Justice Marcel Okoh, pronounced them guilty yesterday and sentenced them to 10 years imprisonment each with hard labour without an option of fine. Over the years, several indigenes of the locality have been killed in ritual manner, while others were raped and maimed by unknown gunmen. Early this year, suspected Fulani herdsmen kidnapped the Obi of UbuluUku, HRM Edward Akaeze III, and murdered him few days after. His decomposing body was later found in a nearby bush between the state and neighbouring Edo State. The police in the state later traced the attackers to Sokoto and Adamawa states before the six-man gang was arrested. The monarch’s killers, including a lady, were paraded by the police. The story was the same in Obiaruku, Ukwuani Local Government Area of the state. The community’s youth leader, Mr. Chika Uwabuofu, said the herdsmen had resorted to hostage taking. The youth leader said eight members of the community were held hostage by the Fulani herdsmen in their farmland for over seven hours on April 26, a development, he explained, caused panic across the

£0.15m

The net amount of money spent/ received by Man City in the January 2016 transfer window. Source: 101greatgoals.com

community. Last Friday, suspected Fulani herdsmen struck again in Illah town, Oshimili North Local Government Area of the state, where a woman was beheaded. The woman in company of two others were said to have gone on a fishing expedition at the Otu-Ngegu (Gulugulu) in Ajaji area before the herdsmen pounced on them. The herdsmen were said to have attempted to rape them, but due to their resistance, the hoodlums threatened them with dangerous weapons. While two escaped in the process, the last woman was strangled and beheaded. Disturbed by all these, the Delta State Commissioner of Police, Alkali Baba Usman, said he had no constitutional power to eject the Fulani herdsmen from the state as demanded by the Association of Security Networks (ASN) and other stakeholders. During a stakeholders’

meeting in Ughelli, the CP lamented that over 30 people have been killed and several others injured, maimed and raped by the herdsmen in the past three years in Ughelli North Local Government Area of the state alone. He said six of his men died in shootout with hoodlums. Meanwhile, as part of measures to forestall further bloody skirmishes between herdsmen and farming communities, the Enugu State Government yesterday banned grazing and rearing of cattle at night. The state governor, Ifeanyi Ugwuanyi, announced the ban after a meeting with leaders of Fulani/Shuwa Arab herdsmen in the state. The ban is coming on the heels of the invasion and killing of scores of residents of Nimbo community in Uzo-Uwani Local Government Area of the state recently by suspected herdsmen.

The state government also banned the carrying of firearms or any form of ammunition by the herdsmen and movement of cattle from one location to another at night in the state. Ugwuanyi also set up a peace committee made up of representatives of the various interest groups from the Fulani\Shuwa Arab Community in the state, government representatives as well as security agencies. During the meeting convened by the governor and attended by leaders of some communities affected by attacks carried out by suspected herdsmen in the state, it was also decided that compensation will be paid by herdsmen whose cattle destroy farm crops while the communities will pay for any cattle killed by their members. The governor had convened the meeting in furtherance of ongoing efforts of the state government to find a lasting solution to

the lingering clashes between Fulani herdsmen and their host communities, especially in the wake of the Nimbo killings. It was also decided that violators of these resolutions would be made to face the full wrath of the law. Addressing the meeting, which held at the Government House, Enugu, Ugwuanyi sued for peace among all residents of the state, even as he regretted the recent attacks by the herdsmen. Present at the meeting were the secretary of the Fulani community in the state, Bala Ardo; leader of the Fulani community, Alhaji Ardo Saidu Basu, and the leader of the Shuwa Arab community in the state, Alhaji Ahmed Yahaya, while the traditional ruler of Ibute Nze led leaders of three communities of Akpakwume, Ezi Nze and Ibute Nze communities in Udi council area of the state who also attended the meeting.

Former Abia State Governor, Dr. Orji Uzor Kalu, after his case with the Economic and Financial Crimes Commission (EFCC), at the Federal High Court, Abuja… yesterday.

Pending appeal stalls Kalu's trial Board appointments: Presidency rejects APC’s list Tunde Oyesina ABUJA

he planned re-arraignment of former Abia State governor, Dr. Orji Uzor Kalu, before the Federal High Court sitting in Abuja was yesterday stalled due to a pending appeal before the Supreme Court. The Federal Government had filed an amended charge reducing the counts of the initial charge from 107 to 32 counts. Listed as 2nd and 3rd defendants alongside Kalu are; Udeh Jones Udeogu and Slok Nigeria Limited. Kalu was, however, represented by Chief Awa Kalu (SAN). When the case was called yesterday, counsel to the third defendant, Chief Solo Akuma (SAN) drew

the attention of the court to the pending appeal by his client, Slok Nigeria Limited before the Supreme Court, which has not been heard. He further informed the court that briefs in the appeal have been filed and exchanged, but no hearing date has been fixed for the appeal. Akuma also submitted that the appellant had applied to the Chief Justice of Nigeria, Justice Mahmud Mohammed and the Director of Litigation of the Supreme Court for a hearing date. "In the circumstances, we hereby apply for an adjournment to enable us sort out the appeal," he stated. Responding, prosecution counsel, Oluwaleke Atolagbe, confirmed the pendency of the appeal before the Supreme Court.

He, however, informed the court that the prosecution had filed an amended charge and served on the defendants. The trial judge, Justice Anwuli Chikere, later adjourned till June 30 for mention. In the charge, Kalu was alleged to have, while being the Governor of Abia State in 2003, procured Slok Nigeria Limited to retain its account domiciled with the First Inland Bank Plc., Apapa branch, Lagos, the sum of N200 million and that the sum formed part of the funds illegally derived from the treasury of Abia State government through Standard Trust Bank, now UBA. The offence is said to be contrary to Section 17(c) of the Money Laundering (Prohibition) Act, 2003 and punishable under section 16 of the same act.

...orders fresh list from SGF Johnchuks Onuanyim Abuja

he Presidency might have dropped the list of people submitted to it by the leadership of the All Progressives Congress (APC) for board appointments. The move came months after the leadership and members of the party had waited for the appointments. It was learnt yesterday that the Presidency has begun a fresh compilation of names. A source within the party yesterday told New Telegraph that the Presidency has set aside the earlier list compiled by the leadership of the party. According to him, the presidency discovered that there were sharp

practices in the compilation. Over 2,000 names were nominated for board appointments by a committee that had all the APC National Vice Chairmen as members. Also, five members of APC from each state were nominated as Chief Executive Officers of parastatals and agencies of Federal Government. A source at the National Headquarters of the APC in Abuja told New Telegraph that the Presidency had rejected the list compiled by the committee. The source said: "Yes, the president has rejected the list compiled by the national leadership of the party and asked the Office of the Secretary to the Government of the Federation (SGF) to compile a fresh list.

"The Presidency noticed that there were sharp practices in the compilation made by the committee and decided that the list should be dropped." When the office of the SGF was contacted, a source admitted that they were compiling a fresh list of party members for the board and chief executive appointments. Asked when the Presidency would release the board appointments, the source said: "We are still compiling the names of nominees." Also, the source revealed that the merger of some ministries would also affect the release of the list as the Presidency was considering merger of some agencies and parastatals. "Until this is done, the list might not be released," the source said.

NEWS

TUESday, May 17, 2016 NEW TELEGRAPH

Petrol, electricity prices push April inflation to 13.7% Abdulwahab Isa Abuja

igeria’s April inflation rose to a near six-year high of 13.7 per cent, in part due to rising petrol and electricity prices, the National Bureau of Statistics (NBS) said yesterday. March inflation was 12.8 per cent. Africa’s biggest economy is facing its worst crisis in decades, driven by a sharp drop in crude prices that had slashed government revenues and weakened the naira. Gross Domestic Product (GDP) growth was just 2.8 per cent last year, its lowest rate in decades. In its monthly inflation data obtained yesterday, NBS said the higher infla-

tion rate in April reflected increases across all sectors, with petrol prices and electricity tariffs as major factors. The monthly inflation has been on a steady rise in the past 10 months heating a double-digit figure for first time in February. The statistics office noted that food index reflected tighter supplies across most groups that contribute to the sub-index. The sub-index increased by 13.2 per cent in April, up by 0.4 per cent points from rates recorded in March, as all major food groups, which contribute to the food subindex increased at a faster pace driven by higher food prices in fish, bread and cereals, and vegetable groups. On month-on-month, while the headline index increased in April, the index slowed for the second

consecutive month. The index increased by 1.6 per cent, in April, 0.6 per cent points from rates recorded in March. The NBS noted: “Year on year, both the urban and rural indices recorded marked increases for the third consecutive month in March. The urban index rose by 15.1 per cent, 1.6 per cent points from 13.5 per cent in March. While the rural index increased, upward pressure on prices were relatively less severe in the rural areas as the index increased 12.8 per cent year-on-year, 0.7 per cent points from 12.0 per

N170.59bn The total value of crude oil and noncrude oil export to Indonesia in 2014 fourth quarter. Source: National Bureau of Statistics

cent in March. On a monthon-month basis, while the urban index increased at a faster pace, from 2.0 per cent in March to 2.2 per cent in April, the rural index increased at a slower pace, from 2.1% in March to 1.4% in April.” On food index, NBS data said that both imported and domestically produced foods experienced higher increase in prices. "The index increased by 13.2% (year-on -year) during the month, 0.4% points higher from rates recorded in March. All groups, which contribute to the index increased dur-

The number of fixed (wired)broadband subscriptions per 100 inhabitants of the world in 2007. Source: Itu.int

ing the month with the exception of the fruit and potatoes, yams and other tuber group. “On a month-on-month basis, the food sub-index increased by 1.3% in April, 1.0% points lower from rates recorded in March," said the statistics office. The bureau further observed that during the month under review, all groups, which contribute to the food sub-index, increased at a slower pace with the exception of milk, cheese and eggs group. However, it added that on month-on-month basis, highest increases were recorded in bread and cereals; oils and fats, and meat groups. "The average annual rate of change of the food sub-index for the 12-month period ending in April 2016

Fireworks over fuel hike people spend four hours to

CONTINUED FROM PAGE PB L-R: Former President Olusegun Obasanjo; Minister of Transportation, Mr. Chibuike Amaechi and Chairman, Senate Committee on Marine Transport, Ahmed Yerima, at a stakeholders' conference on the maritime industry in Lagos… yesterday.

Forex scarcity: 75 ships stuck off Nigeria's coast CONTINUED FROM PAGE 1

outside Nigeria. A slump in world oil prices has hammered Nigeria's state income and because crude sales are the government's main source of revenue, the fall has caused crippling shortages of dollars within the economy that have been hurting businesses for months. In a bid to break the impasse and head off more fuel shortages, the government raised the price cap for petrol by 67 per cent, officially sanctioned importers to use the black market to find the hard currency they need to get cargoes off the ships and allowed any Nigerian company to import fuel. Announced last week, the reforms were welcomed by some in the oil industry as badly needed steps in the right direction. The changes have largely eliminated the system of heavily subsidised fuel prices, removing one strain on Nigeria's increasingly stretched finances. But the parallel market has struggled to cope with the demand for U.S. dollars that followed the reforms. Nigeria consumes 45

million litres of petrol a day, or roughly 280,000 barrels, which would require the market to provide some $18 million a day. Though importers cover about 30 per cent of this, with the state oil firm, the Nigerian National Petroleum Corporation (NNPC) covering the rest, it is still a big strain on the market for dollars. The naira has already weakened due to the spike in demand for dollars from fuel importers. Yesterday, the U.S. currency fell to N345 on the parallel market, whereas the official exchange rate has been held firm just under N200. "The risk is that the parallel rate will depreciate even more, giving the marketers a pretext for yet further price increases at the pump," said Alan Cameron, an economist covering Africa with Exotix Partners. President Buhari has resisted International Monetary Fund (IMF’s) calls to devalue the naira; though Vice President Yemi Osinbajo sparked speculation devaluation may be on the cards when he said the Central Bank

had to change its policies. Nigeria's production dropped this month to 1.65 million barrels per day from 2.2 million and risks slumping to its lowest since 1970. Meanwhile, the price of oil at the international markets yesterday hit sixmonth highs on worries about supply outages in Nigeria and Venezuela and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures shaved gains. This cheering news for Nigeria came hours after the Nigerian army announced the arrest of several suspected members of a militant group called the "Niger Delta Avengers" (NDA), thought to be behind recent attacks on oil pipelines in the Niger Delta. Brent crude (Nigeria’s cash cow) futures were up $1.22, or 2.5 per cent, at $49.05 per barrel by 12:23 p.m. EDT (1623 GMT). It was just 53 cents short of reaching $50 a barrel at the session high. U.S. crude's West Texas Intermediate (WTI) fu-

tures rose by $1.44, or 3 per cent, to $47.65. In the Americas, U.S. officials warned they were increasingly concerned by the possibility of an economic and political meltdown in Venezuela amid low oil prices, where crude production has also been falling due to power shortages. The disruptions triggered a U-turn in the outlook for the oil market from Goldman Sachs, which had long warned of global storage hitting capacity and of another oil price crash to as low as $20 per barrel. "The oil market has gone from nearing storage saturation to being in deficit much earlier than we expected," Goldman said. "The market likely shifted into deficit in May... driven by both sustained strong demand as well as sharply declining production," the investment bank said. Nigeria's oil production has been severely disrupted by the attacks. US oil giant, Chevron, shut down an offshore platform this month after an attack claimed by the Avengers group.

over the previous 12-month average was 10.8%, 0.3% points from the average annual rate of change recorded in March," it added. To prove that highest prices were recorded during the month under review, NBS noted that in April on a month-onmonth basis, highest price increases were recorded in electricity, motorcars, fuels and lubricants and liquid fuels (kerosene) group. Nigerians are groaning under hardship occasioned by sharp increase across all items – both consumables and services. All staple food items have had their prices increased by as much as 60 per cent. A bag of rice, which was selling for about N9,000 early in the year goes for N16,000.

employment opportunities for Nigerians. He appealed to Nigerians and the organised labour to support the government decision and put patriotism ahead of personal or group interest. Speaking at the opening of the meeting, Kaigama said the organised labour lowered the intensity of its agitation against the government to sympathise with the various challenges the current administration inherited from the immediate past administration. He, however, said that the government should also sympathise with Nigerians who are suffering, noting that the Labour representatives came to the meeting with open minds. Kaigama noted that government should also muster courage to put in place palliatives to cushion effects of its policies on Nigerians. Reacting to the Labour leaders' presentation, Oshiomhole lamented that the Federal Government is currently swimming in financial mess it inherited from the past administration, but noted that Buhari is more concerned and worried about how policies of his administration are affecting Nigerians. He argued that the government was left with no option about the deregulation than to take the decision. "We have a president who is very concerned about the people. The facts on ground are clear; to do nothing now will mean that we will find ourselves consumed by the problem. “I want my comrades to appreciate that this is not a decision that was easy to arrive at. How long do we sustain a system where

get PMS at the filling stations? “If the choice is between what is nice, what is painful and painless, President Buhari would definitely go for the painless," he said. He cautioned the labour leaders against industrial action. "We have to reflect on whether we should allow subsidy regime where a few people pocket trillions of naira. NLC and TUC should reflect on all these. We need open mind in occasion like this. I appreciate the tension workers are passing through now. Many workers are not even getting the N18,000 minimum wage as and when due,” he said. The meeting afterward went into closed session. However, factional leader of the NLC, Joe Ajaero, said the decision reached between the government and Wabba faction was not bidding on his group. His words: "Government invited us as a faction. NUPENG and electricity workers’ union belong to my faction. "But the other faction said they preferred a separate meeting. What that means is that we are going to have separate positions. So, the Wednesday they had fixed for action cannot be a date for us because they are trying to appropriate the power to call for action and to challenge issues on petroleum products. They don't have that power. "We will wait for our group to meet. But definitely, it appears that by ideology, we can no longer meet. We thought we could manage this for the interest of Nigerians. But from the look of things, it appears we have to go our different ways."

national | news

tuesday, may 17, 2016 NEW TELEGRAPH

PDP: BoT backs Sheriff, supports national convention Onyekachi Eze ABUJA

espite threats and call for the postponement of next Saturday's National Convention of the Peoples Democratic Party (PDP) in Port Harcourt, Rivers State, the Board of Trustees (BoT) of the party yesterday lent its support to the convention. Interestingly, most characters who stoutly opposed the convention and threatened to hold a parallel convention, were present at the meeting. The BoT meeting, which lasted for about six hours, was well attended. It provided an opportunity for the board to elect its substantive chairman and secretary, after one year that Chief Tony Anenih resigned as board chairman. Senator Walid Jibrin, who has been acting as chairman since February, was confirmed as substantive chairman, while Chief Ojo Maduekwe was elected as Secretary after a former Senate Majority Whip, Senator Stella Omu stepped down for him. Indication that the BoT, which is the conscience of the party, would capitulate emerged after the National Chairman, Senator Ali Modu Sheriff addressed the opening session. Sheriff, who was holding a meeting with PDP governors almost at the same time, told the BoT members that him and the 12 governors elected on the platform of the party have agreed to sus-

pend the proposed constitutional amendment at the convention. "Today, we are looking at the constitution of the party to be taken at the convention. The issue of the constitution will not be taken as a result of the meeting we had. "We will bring down completely, the issue of the constitution as a result of the agreement they reached as part of their meeting," he added. On the contentious congresses at the states, the National Chairman, noted: "So many decisions were taken as a result of the dissatisfaction on the outcome of some of the congresses in some of the states by some of our leaders and citizens across country. Various meetings have been called in order to proffer a lasting solution to the party's problems." He assured the members that a committee would be set up with a view to correcting the attendant problems. Sheriff told them that a motion would be moved at the national convention for the PDP presidential candidate in 2019 to come from the North, in accordance with Senator Ike Ekweremadu's committee report. He again apologised to the former Minister of Information, Professor Jerry Gana on the comments made against him by his (Sheriff's) aide, and said he did not send anybody to insult the former minister. From the reactions of some BoT members after the National Chairman's

My role in N500m bank loan –Gana Onyekachi Eze ABUJA

ormer Minister of Information, Prof. Jerry Gana, has defended his role in the N500 million loan facility he alleged collected on behalf of the Peoples Democratic Party (PDP) from Skye Bank. Special Adviser on Media and Publicity to the National Chairman, Alhaji Inuwa Bwala, last week, threatened to drag the former minister before the Economic and Financial Crimes Commission (EFCC) to explain what he used the money for. But Gana, who attended the 55th meeting of the PDP Board of Trustees (BoT) yesterday, said the loan was for the 2014 fundraising, which he was the chairman. "As chairman of funding raising committee of

the party in 2014, the party was not in a position to give the committee takeoff grant," he explained. According to the former minister, the Financial Secretary of the party, Alhaji Adewole Adeyanju and the Treasurer, Bala Buhari, who were Secretary and member of the fundraising committee respectively, were aware of the loan and were supposed to have briefed the National Working Committee (NWC) of the loan. Gana explained that the money was meant to organise fundraising dinner, and the loan serviced from the proceeds of the fundraising. "The NWC refused to refund the loan. The party has enough fund to repay what was taken from the bank. I am not a signatory to any of the account of the party," he added.

...shelves constitution amendment opening remarks, it was obvious that they would be prevailed upon. However, it was gathered that the debate by members was heated at a close door session. According to source, some members still insisted on the postponement of the convention until all the contentious issues were resolved. At a point, Sheriff, who later joined them, invited some governors, and Rivers State governor, Nyesom Wike, his Ekiti and Ebonyi State counterparts, Ayodele Fayose and Dave Umahi, who came to the PDP National Secretariat, consulted the National Chairman at the sideline, and might have urged him to prevail on the BoT members to endorse the convention. Maduekwe, who read the communiqué at the end of the meeting, said it was not easy for the board to arrive at its resolution. "Three decisions were agreed upon today. One is that in spite of the well-

articulated proposals of many highly respected leaders and members that the convention should not go ahead as planned in order allow more time to resolve our differences, the consensus opinion, because we do not vote in the BoT because a divided BoT becomes a divided conscience. "By consensus, we decided to support the NWC and NEC's decisions that convention should hold on May 21. "Secondly, all the grievances which have been clearly and well-articulated by well-meaning leaders for the purpose of making the party stronger, not grievances pushed merely to smear the party or factionalize the party will be carefully looked into and in the process of political consideration, and engineering, we will see how to carry everyone along. "We agreed to suspend amendments to the constitution. We resolved to ask the convention to rectify

the motion to zone the presidential ticket to the north. When that happens, the chairmanship will automatically revert to the south in accordance with PDP zoning principle and tradition. "Finally, certain states where there were observed challenged during the congresses, which even the chairman and governors acknowledged, the party will look into what happened in those states and make amends," the BoT secretary added. Maduekwe defended the decision of the board, adding that as the conscience of the party, it would be a national tragedy if they allowed the PDP to die. He added that it would be wrong to describe them as dormant or rubber stamp, stating that they did a self examination before they arrived at the resolutions. "So we have moved away from the brink and are ready to unite ourselves and we are happy

to announce that all our discussions today centred on party unity. We have moved away from the brink and we are a stronger party ready now to be a reinvented PDP," he added. Present at the meeting were: Chief Tom Ikimi, Josephine Anenih, Chris Uba, Adolphus Wabara, Chief Shuaibu Oyedokun, Senator Ibrahim Mantu, Wilberforce Juta, Architect Ibrahim Bunu, Prof Tunde Adeniran, Senator Stella Omu, Amb Esther Audu, Chief Ojo Maduekwe, Alhaji Abdulkadir Kure, Alhaji Adamu Maina Waziri and the former PDP Chairman Chief Vincent Ogbulafor. Others were Prof Jerry Gana, Chief Mike Ogiadome, Barr Tanimu Kabiru Turaki, Ali Modu Sheriff, Inna Ciroma, Rex Onyeboh, Remi Kuku, Alh Bello, Hon Margret, Senator Jonah Jang, Prof Stella Atu, Baba Shetima, Hon Patience Ogodo, Mrs. Fidelia Njeze, Senator Ahmadu Ali. Rivers State Governor, Nyesom Wike (middle), with others, during a visit ahead of the commencement of reconstruction of Faulks Road in Aba.

NYSC DG laments cash crunch Chukwu David Abuja

irector-General of the National Youth Service Corps (NYSC), Brig-Gen. Suleiman Kazaure, yesterday, said that the number of prospective corps members earlier slated for mobilization across the country this Friday would no longer be feasible due to lack of funds. Kazaure, who made the disclosure while briefing the Senate Committee on Youth and Sports, said the affected prospective corps members were those in Batch A stream 2, earlier slated for mobilization into the 37 orientation camps across the country this week Friday. He said that the problem stemmed from the N13 billion shortfall recorded in the 2016 budget by the agency, noting that

the amount constituted 40 per cent of its original proposal. He said that, as at yesterday (Monday), the needed fund for the exercise had not been provided by the Federal Government, in spite of series of letters his office wrote to that effect in the past weeks. He lamented that his office had sent request letters for the needed operational fund for the mobilization to agency's supervising ministry (the Federal Ministry of Youth and Sports), the Ministry of Finance, Budget and the Presidency before the expiration of orientation camp for Batch A stream one Corp members, without any favourable response till date. "We are presently at a loss in NYSC now as there is no money for us to mobilize thousands of prospective corps members in the Batch A stream 2 to camp this Friday as earli-

er planned despite efforts made by us to get things done in that direction several weeks ago. "The problem staring us in the face arose from the N13 billion shortfall we had in the 2016 budget estimates, upon which the agency made strong request for its provision during budget Defence about three months ago", he said. He however, expressed the hope that last minute intervention might be made for provision of the urgently needed fund by the Presidency, saying that the Chief of Staff to the President had invited the Minister, Solomon Dalung to see him over the matter. The Chairman of the Committee, Senator Obinna Ogba, in his remarks, also expressed concern on the problem facing the agency but assured the DG and his team that the Committee would intervene to save the situation.

Oshiomhole injects N2bn into Edo economy Cajetan Mmuta BENIN

he economy of Edo State has received a major boost as the State Governor, Comrade Adams Oshiomhole, yesterday injected N2 billion into the economy through the presentation of cheques to 10,000 beneficiaries of the state Micro, Small and Medium Enterprise Development Fund (MSMEDF). Speaking during the presentation of cheques to beneficiaries of the scheme in Benin City, Oshiomhole said that “the whole idea is to help you sustain or advance your businesses and your cooperative society. The 18 Local Government Areas and the 192 wards are well represented.”

NEWS | national

FG: Nigeria losing 500,000 bpd to militancy Onwuka Nzeshi ABUJA

igeria is losing an estimated 500,000 barrels of crude oil and 100 mega watts of electricity daily, due to the renewed activities of militants in the Niger Delta region. The losses followed the sustained vandalism of strategic oil installations, especially pipelines conveying crude oil to the export terminals, as well as those conveying gas to the thermal power stations for the generation of electricity. Minister of Informa-

tion, Culture and National Orientation, Alhaji Lai Mohammed, who disclosed this at a news conference in Abuja, expressed disappointment at the resurgence of militancy in the Niger Delta region, saying the blowing up of these pipelines has drastically reduced crude oil production to 1.65 million barrels per day, against the projection of 2.2 million barrels per day in the 2016 budget. Mohammed urged the militants to express their grievances in a civil way devoid of violence, as the government would not fold its arms and watch them cripple the national economy.

The minister, who was accompanied to the media briefing by the Group General Manager, Public Affairs of the Nigeria National Petroleum Corporation ( NNPC) , Garba Deen, also gave reasons for the recent removal of fuel subsidy and the increase in the pump price of petrol. According to Mohammed, the Federal Government took the decision to deregulate because the old approach of subsidizing fuel price was becoming too burdensome to shoulder. He said that government had no choice than to liberalize the price of petrol, if it must bring to an end the crippling fuel scarcity

that has plagued the country for over three months. Mohammed explained that whereas the Nigerian National Petroleum Cooperation was making $550m monthly, it was expending $600m to import fuel, adding that such a policy was no longer sustainable. On the accusation that the APC administration was insensitive and did not make provisions to cushion the impact of the fuel price hike, Mohammed assured Nigerians that there were a lot of palliatives in the 2016 budget that would address such concerns and alleviate the sufferings of the masses.

tuesday, may 17, 2016 NEW TELEGRAPH

Buhari wants more sanctions against traffic violators

resident Muhammadu Buhari yesterday urged the Federal Road Safety Commission (FRSC) to take more stringent action against motorists who drive against traffic. Buhari, who was represented by the Minister of Interior, Lt.-Gen. Abdulrahman Dambazau, said this while inaugurating 283 operational vehicles for the FRSC in Abuja. He said that in spite of the numerous successes recorded by the Corps, there were other areas that required urgent attention. The president said the lingering issue of violation of one-way traffic by road users within cities and inter-state roads had

continued to cause fatal accidents. “There is the recurring problem of overloading of humans, animals and other cargo beyond the approved capacity of the vehicles, especially by commercial road users ostensibly to maximise profit. “But this is with attendant consequence on the longevity of our roads and safety of the passengers; one additional road hazard of immense safety implication is the poor handling of cargo containers during haulage,`` he said. He called on the leadership of the corps to take note of these observations with a view to tackling them headlong.

£15.7m

The net amount of money spent/received by Arsenal in the whole 2015-16 season. Source: 101greatgoals.com

Obasanjo advises FG against reviving NNSL F

L-R: Corps Marshal, Federal Road Safety Corps (FRSC), Mr. Boboye Oyeyemi; Minister of Interior, Lt. Gen. Abdulrahman Dambazzau (rtd); Minister of State for Health, Prof. Osage Ehinaire and Chairman, Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Tijjani Kaura, during the inauguration of newly acquired operational vehicles for FRSC in Abuja… yesterday. PHOTO: ELIJAH OLALUYI

Testing both hands for blood pressure could save lives Appolonia Adeyemi

he practice of testing one hand for blood pressure measurement is now to be abandoned going by a new method which shows that it is better to test both hands. According to a study published in the ‘British Journal of General Practice’, testing both arms for blood pressure instead of just one could save lives. Researchers from Great Britain's University of Exeter found that checking pressure in both arms could spot people at risk of heart disease, even in those who appear healthy. Speaking on the new method, Dr. Chris Clark of the University of Exeter Medical School, said: “Current guidelines state that blood pressure should be measured in both arms when assessing patients for hypertension, but often this advice is not followed due to time constraints or lack of awareness amongst clinicians." "For accuracy, to overcome natural blood pres-

sure fluctuations, it is important to test both arms simultaneously to confirm any difference," he said. A blood pressure test measures the pressure in the arteries as the heart pumps. Blood pressure test could be part of a routine doctor's appointment or as a screening for high blood pressure (hypertension). You may have more frequent blood pressure tests if you've been diagnosed with pre-hypertension, high blood pressure (hypertension) or low blood pressure (hypotension). A blood pressure reading, given in millimeters of mercury (mm Hg), has two numbers. The first, or upper, number measures the pressure in the arteries when the heart beats (systolic pressure). The second, or lower, number measures the pressure in the arteries between beats (diastolic pressure). According to a report in the mailonline, the researchers analysed the medical records of more than 3,000 people between the ages of 50 and 70, who had a greater risk of car-

diovascular disease, but were otherwise healthy. They found that a difference of only 5 points (5mm Hg) in systolic blood pressure measurements between the two arms doubled the risk of dying from heart-related disease during the eightyear follow-up. A discrepancy of at least five points was found in 60 per cent of the people in the study. The difference

can indicate artery-clogging plaque in the artery on the side of the body with the higher reading. The plaque indicates peripheral artery disease and boosts the chances that arteries in the heart and brain are also clogged, which increases the risk of heart attack and stroke. Once diagnosed, people at risk could be advised on lifestyle changes that could lower their risk.

ormer President Olusegun Obasanjo yesterday advised the Federal Government against resuscitating the defunct Nigerian National Shipping Line (NNSL). Obasanjo gave the advice in Lagos in his address as Chairman of a two-day stakeholders’ conference on the maritime industry. The former president blamed the demise of NNSL on the lack of professionalism and high level corruption at the time. He said: “NNSL had been liquidated. They tried Nigeria Unity Line, it collapsed. “Nineteen brand new ships were specially built for Nigeria. We did not take delivery of some of them until I left office in 1979. “When I came back in 1999, NNSL had been liquidated with all the 19 ships gone as well as the

five ships in existence. “Two of the ships were missing for almost two years and it was discovered that one military man was using them all over the world and no accountability.” The former president urged the present administration to “think out of the box and come up with what should be done to grow the maritime industry’’. “Until NIMASA became a source of where people steal money, nobody knew too much about it. “Before we tried to privatise Nigerian Ports Authority, I went to Singapore where you get your container within one hour of arriving the port. “If we cannot perform like Singapore, we have to do better than what we are doing now,” Obasanjo said.

Reps hold stakeholders' summit Fashola charges contractors on new PIB version to go back to work Philip Nyam Abuja

ollowing the inability of the executive to forward a new version of the Petroleum Industry Bill (PIB), to the National Assembly, the House of Representatives is to hold a stakeholders conference on the new legislation. The summit, according to the House will collate suggestions on the new bill that would be presented for legislation by

the House. Speaker Yakubu Dogara, had early this year, announced that the green chamber was drafting its own version of the bill as a result of failure by the executive to forward its proposed version of the law. A statement from chairman of the House committee on Petroleum Resources (upstream), Hon. Victor Nwokolo, said the House, in furtherance of its commitment to ensure the passage of an

Johnchuks Onuanyim Abuja

he Minister of Power, Works and Housing, Babatunde Raji Fashola, SAN, yesterday charged contractors handling transmission projects for Transmission Company of Nigeria (TCN) and Niger Delta Power Holding Company (NDPCH) across the country to go back to sites. He promised the release of funds to them. The minister, who gave the charge at a meeting with

contractors in Abuja, promised that all their complaints would be resolved within a reasonable time frame. In a statement from the Assistant Director of Media of the Ministry, Ibrahim Haruna, the Minister disclosed that the purpose of the meeting was to share the concerns of the contractors handling various transmission projects with a view to assisting them in solving the problems they were facing in executing them and also to ensure their timely completion.

national | news

tuesday, may 17, 2016 NEW TELEGRAPH

FG to concession Abuja, Lagos, Kano, Port Harcourt airports T he Minister of State, Aviation, Sen. Hadi Sirika, has said that the Federal Government will concession the Abuja, Lagos, Port Harcourt and Kano international airports in the first phase of its concession programme. Sirika disclosed this at the 2016 Aviation Stakeholders Forum yesterday in Abuja. He said : “The thinking is that just like every other place in the world, we will concession our

airports and we are beginning with the big four, Lagos, Abuja, Port Harcourt and Kano. “It would have been ideal to take them to some level of acceptance for them to attract more. “But I think we just get those guys who believe that in Nigeria they can create a hub geographically given by God. “To come and put in their money and create this hub, build these airports, concession them, run them and make mon-

CONFIRMATION/change OF NAME Olatunji: I, formerly known and called Odusina Bamidele Eunice now wish to be known and called Eunice Olatunji Olatunji. All former documents remain valid. General public take note.

Egbele

Nwaebele

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Jude

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This is to confirm that Ogola-Emma Ebitimitula Emmanuella is the same person as Ogola Emmanuella with which my Skye bank/BVN was registered. That henceforth I wish to be known and addressed as OgolaEmma Ebitimitula Emmanuella. All former documents remain valid. Skye bank Plc and the general public should take note.

Woyengiukie

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This is to confirm that the name Okponya Nathaniel Woyengiukie and Okponya Ryce Woyengiukie refer to one and the same person. That henceforth I wish to be known and addressed as Okponya Nathaniel Woyengiukie. All former documents remain valid. Ecobank Plc and the general public should take note.

Aderemi

This is to confirm that Sulaiman Kasim Abdulazeez Aderemi is the same person as Abdulazeez Kasim And Suleiman Aderemi. That henceforth I wish to be known and addressed as Sulaiman Kasim Abdulazeez Aderemi. All former documents remain valid. Afric Bank, Skye Bank and general public, please take note.

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ey out of them.’’ He said that the current facilities at the airports did not meet international standard and best practices in the aviation industry, adding that private sector involvement was the way forward. According to him, if the government was able to concession the four airports successfully in the first phase, it would pay attention to providing in-

frastructure and developing domestic airports for optimal performance. Sirika also said that the state of the Abuja airport runway was a source of concern. He said government may consider closing down the airport as a form of safety precaution. He said that government was committed to upgrading the existing facilities at the airports

as well as developing new strategy to repositioning the sector. The minister also stated that a comprehensive security check and vulnerability assessment of the airports had been carried out to ensure that airports were properly secured. According to him, every huge major disaster in the world such as the Pearl Habour attack,

CCT trial: Appeal Court fixes May 31 to hear Saraki's suit

Tunde Oyesina ABUJA

he Court of Appeal, Abuja Division has fixed May 31 for the hearing of an appeal filed by the Senate President, Bukola Saraki, seeking to stop the Code of Conduct Tribunal (CCT) from trying him on charges relating to false and anticipatory assets declaration. The Federal Government is already prosecuting Saraki before the CCT. Saraki is challenging the ruling of the tribunal delivered on March 24 by its chairman, Danladi Umar, which dismissed

his (Saraki’s) application challenging the jurisdiction of the tribunal to hear the charges against him. The Federal Government, which is the respondent, had however filed a cross appeal against the March 24, 2016 ruling of the CCT. The Federal Government hinged its cross appeal on ground that the CCT failed to make findings on its argument that Saraki’s motion was an abuse of court process. It contended, among others, that the issue of jurisdiction, having been resolved by the Supreme Court in an earlier appeal by Saraki, ought not to be

raised again. It argued that the apex court, having held in a judgement of February 5, that the CCT had jurisdiction to try Saraki, it (CCT) ought not to entertain another motion filed by the Senate President challenging its jurisdiction. A full panel of the appellate court led by Justice Abdul Aboki, however, fixed May 31 for the hearing of both the appeal and the cross-appeal. This was in response to a request by counsel to Saraki, Kanu Agabi (SAN) seeking for a 14-day adjournment to enable him study the response filed by the Federal Government.

Bayelsa accuses APC chiefs of aiding insecurity

he Bayelsa State Government has blamed the security problems, including acts of economic sabotage, killing of soldiers and kidnapping in the state on some chieftains of the All Progressives Congress, APC in the region. These attacks, which have claimed several innocent lives, have heightened the security situation in the state which was brought back to normalcy by the government after the last governorship election. In a statement signed by the State Commissioner

for Information and Orientation, Hon. Jonathan Obuebite yesterday, the government pointed out that members of the APC were still pained by their landslide loss in the governorship election and have vowed to ensure that the second term of Dickson was frustrated through such attacks. Addressing security issues amongst other issues during a live radio media chat in Yenagoa, Governor Seriake Dickson called on the APC-led Federal Government and the security agencies to investigate the party’s so called lead-

ers in Bayelsa State and the Niger Delta region to ascertain their roles in the recent spate of pipeline vandalism and other notable acts of economic sabotage in the region. Dickson, who described the activities of these leaders as most unfortunate and very sad, pointed out that, these acts were being planned and carried out to deliberately reduce the state’s quota in the quantity of crude oil it contributes to the nation’s overall production quota as well as deplete the state’s resources from the federation account.

CLO threatens to protest over fuel hike Abdulwahab Isa Abuja

he Civil Liberties Organisation(CLO) has joined the ranks of organised bodies tackling the Federal Government in the wake of fresh increment in the petroleum pump price. It said that should the Federal Government fail to heed advice to reverse pump price to N86.50k

from N145 , it would collaborate with other human rights and civil society organisations on planned mass action against the government. Stating the position yesterday in statement jointly signed by its Chairman, Agada Vincent Agada and the Secretary Chike Oguanya, the CLO berated President Muhammadu Buhari's administration for reneging

on campaign promises on whose premise APC as a party secured its victory. "The organisation recalls that the Muhammadu Buhari-led administration came in a year ago on the crest of campaign premises including, reduction of the petroleum pump price to N45, rehabilitation of the three major refineries, jettisoning of petroleum products' importers.

Sept. 11 attack on the U.S. among others, are aviation related disasters. “Safety is the main focus in aviation because, the time a passenger arrives airport, when he takes off and land is very important. “We are developing a new security strategy in partnership with international security organisations and procurement of modern equipments.’’

4,711

The total number of subscribers of Multilinks Telkom (fixed/ fixed wireless) as at March 2015. Source: Ncc.gov.ng

Witness admits collecting N102m for ex-NIMASA executives

witness in the ongoing trial of an Executive Director, (Maritime Labour and Cabotage) of the Nigerian Maritime Administration Safety Agency, NIMASA, Calistus Nwabueze Obi and the personal assistant to the former Director General of the agency, Patrick Akpobolokemi. Alu Dismas, yesterday told a Federal High Court sitting in Lagos how his company received the sum of N102, 000,000 from NIMASA without executing any contract. The witness, Kolomi Mohammed, a Bureau de Change operator, made the disclosure when he was asked to explain the financial transactions which occurred on August 5, 2014 and January 21 and 22, 2015 between his company and NIMASA. In those three days, it was discovered that a total sum of N102,000,000 was transferred from the account of Committee on Intelligence Gathering in NIMASA to the account of Kostan Mega Concept Limited, a company belonging to the witness. Kolomi told the court that on August 5, 2014, one Sule Usaini, a colleague of his came to him with a business and asked for his company’s account number. He said after he gave Sule his company’s account number, there was a credit of N12, 000,000 which he subsequently converted into Dollar and gave to Sule. Also on the 21st and 22nd of January 2015 there was another transaction of N49,500,000 on each of those days from the account of Committee on Intelligence Gathering

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Maid caught trying to sell stolen baby

Camillus Nnaji

olice in Rivers State have arrested a 17-yearold maid, who last Friday kidnapped her boss’ 18-month-old baby, David Robinson, while waiting for a buyer. The suspect, Covenant Bassey, was apprehended yesterday morning at Onne trailer park, Rivers State, while waiting to hand over David to a buyer and collect money. According to David’s mother, Mrs. Uche Robinson, Bassey confessed that she came to the park to sell the baby to a customer. She said: “Since Friday that Bassey ran away with my baby, we have searched frantically for him. We prayed to God to help find our baby. This morning (yesterday), I got a call from a Good Samaritan. The man said that it appeared the girl and the little baby with her at the park in Onne, fitted the descriptions we sent via social media. “We begged him to keep an eye on the girl until we arrived. On reaching the scene, it was Bassey and my baby, David. We immediately raised the alarm and called the Onne Police Station. Upon interrogation, Bassey said that she was there to sell the baby to a customer. She said she was waiting for the customer.”

abiodun.bello@newtelegraphonline.com 08023938212

The kidnapped baby and the nanny after his rescue

Robison said the family had been traumatised since Friday when David was abducted. She described the rescue of her baby as a miracle. Robinson said she employed Bassey five months ago. She added: “Initially, our plan was to pay her monthly, but she agreed that we train her in school. She was supposed to start school next month, but she suddenly disappeared with David.” Robinson said Bassey had been transferred from Onne Police Station to Eleme Police Division, for further investiga-

tions. “I want to caution all families looking for maids to be very careful these days. A lot of satanic agents are moving about to kidnap children. I cannot trust any person again,” she added. When contacted on the phone, the state Police Public Relations Officers (PPRO), DSP Ahmad Muhammad, confirmed Bassey’s arrest. He said: “The maid has been arrested while the baby has been handed over to his mother. But the case is still being investigated.”

Two suspects die during police, robbers’ gun duel Taiwo Jimoh

wo suspected robbers have been killed during a shootout with men of the Federal Special Anti-Robbery Squad (FSARS) in Port Harcourt, Rivers State. The state Police Public Relations Officers (PPRO), DSP Ahmad Muhammad, said in a statement that the suspects were terrorising the residents of the Port Harcourt metropolis. Muhammad said the encounter took place in Port Harcourt at the weekend. The PPRO said the FSARS officials raced to the scene of the scene immediately they got a distress call about the operation of the robbers who were trailing

some bank customers. According to him, the robbers had attempted to rob the people who went to the bank to withdraw money. He said: “The suspects laid an ambushed for a woman who went to a bank in the Government Reservation Area (GRA) in an attempt to rob her of her money but luck ran out on them when our men arrived the scene and shot the two of them to death on the spot.” Muhammad, however, said the victim of the robbery attack was rescued and her money returned to her. He said two AK47 rifles, seven magazines, 7.62 live ammunition and money were recovered from the suspects.

Abductors of Comedian’s wife demand N50m Emmanuel Masha Port Harcourt

unmen who abducted Mrs. Chime Mike-Ogbolosingha, wife of a popular comedian/politician, Mr. Mike Ogbolosingha, in Port Harcourt, Rivers State, have demanded N50 million ransom. A security source, who disclosed this, said the kidnappers contacted the family of the victim and made the demand. He also disclosed that the police had been monitoring the situation and that investigations into the abduction

Ogbolosingha

had begun. The Ogbolosinghas hail from Bayelsa State but reside in Eliparanwon area of Port Harcourt. Mike was chairman of Yenagoa Local Government Area of Bayelsa State when former President Goodluck Jonathan was the governor of the state.

City Briefs

Ile-Oluji: Mimiko, Ooni for Adetimehin’s coronation G

overnor Olusegun Mimiko will on June 10 install Dr Julius Adetimehin, FCII, as the 31st Jegun Olu Ekun of Ile-Oluji Kingdom, Ondo State. Adetimehin, a former president of the Chartered Insurance Institute of Nigeria (CIIN), will be known as Jimoko II in line with the name of his ruling house. The coronation is expected to be attended by the Ooni of Ife, Oba Adeyeye Ogunwusi, and other traditional rulers from all over the country. It will hold from 10am at Gboluji Grammar School, Ile-Oluji. Adetimehin succeeds Dr. Stephen Adedugbe, the immediate past Jegun who passed on at the age of 77 on June 6, 2015. Adetimehin’s nomination by the executive members of the Jimoko

Adetimehin

Ruling House was unanimously endorsed by the Regency Council headed by High Chief Johnson Fagbamiye, the Lisa (Prime Minister) of Ile-Oluji Kingdom, and subsequently approved by the Ondo State Executive Council. He was presented with his letter of appointment and the staff of office on January 26 and then crowned Jimoko II, Owa Adimula, Jegun Olu Ekun Ijamo, paramount ruler of

Ile-Oluji Kingdom on May 5 by the Jegun-in-Council. Fagbamiye disclosed that the selection and appointment of Adetimehin was done through a “fair, objective, transparent and rigorous” process in line with the culture and tradition of Ile-Oluji, and the extant chieftaincy laws of Ondo State. Chief Henry Akinsuroju, a former member of the Ondo State House of Assembly and chairman of the Coronation Planning Committee, said efforts were being intensified to ensure a successful coronation. Adetimehin is a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN) and CIIN. Prior to his appointment as Jegun, he was the MD/CEO of Jully and Partners Limited; a leading firm of insurance brokers.

Okenwa for burial R

ites of passage will on Thursday commence for Madam Margaret Okenwa of Umuekwe, Orsumough in Ihiala Local Government Area of Anambra State. Okenwa died at 92 years. Her remains would be committed to mother earth on Thursday after a funeral service at the Church of Nigeria (Anglican Communion) Diocese of Nnewi. The service begins at 10am.

Okenwa

METRO

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Drug trafficker bags 12 years jail Juliana Francis

31-year-old technician, Michael Nwobodo, has been sentenced to 12 years imprisonment for trafficking in cocaine. Nwobodo was sentenced yesterday by Justice Okon Abang of Federal High Court 10, Federal Capital Territory (FCT), Abuja. The convict, who attempted to escape on the day of arrest, will now spend 12 years in prison custody with hard labour. Nwobodo pleaded guilty to unlawful importation of cocaine, an offence punishable under the National Drug Law Enforcement Agency (NDLEA) Act. Okon, in his judgment, said that illicit drug trade was not abating and that measures must be taken to stop the criminal act. The NDLEA Chairman, Col. Muhammad Abdallah (rtd.), commended the ruling.

Abdallah added that the agency would continue to collaborate with relevant stakeholders in the fight against illicit drugs. He said: “This will serve both as a deterrent and a corrective measure to the convict and others who are involved in narcotic production, trafficking and abuse. The agency will not relent

in partnering with stakeholders in apprehending and prosecuting drug traffickers.” The convict, who was arrested on February 29, with 81 wraps of cocaine, weighing 1.350kg on his way from Dubai, attempted to escape by breaking through a glass wall at the Nnamdi Azikiwe International Airport

Wraps of cocaine

(NAIA), Abuja. He was later arrested and treated for the injuries he sustained. The 81 wraps of cocaine were concealed in Parker Whisky packs along with boxes of chocolates inside a duty-free bag. Nwobodo told officials back then that he was not under the influence of narcotics but only tried to escape because of fear of going to prison. NDLEA commander at the Abuja Airport, Mr. Hamisu Lawan, said that more passengers coming from Dubai had been found with cocaine at the Abuja airport in recent times.

Nwobodo

Principal docked over N1.2m WASSCE fees A

42-year-old principal, Michael Diekola, was yesterday docked at an Ikeja Chief Magistrates’ Court for allegedly defrauding his school

of N1.2 million. The accused, who lives at 8, Alirat Badejo Street, Oke Odo, Abule Egba, a suburb of Lagos, is being tried for fraud and steal-

ing. The prosecutor, Inspector Clifford Ogu, told the court that the offences were committed sometime in July 2014 at a private school, Queen Diana College, Oke Odo, Abule Egba. Ogu, according to the News Agency of Nigeria (NAN), said the accused collected N1.2 million from students under the pretext of enrolling them for the West African Senior Secondary Certificate Examination (WASSCE). He said: “The accused bolted with the money and all efforts to locate him were unsuccessful until he was sighted by

one of the teachers and was immediately apprehended.” The offences violated Sections 285 (1) and 312 (1) of the Criminal Law of Lagos State, 2011. The accused denied the charge. In her ruling, the Chief Magistrate, Mrs. Taiwo Akanni, granted the principal bail in the sum of N500, 000 with two sureties in like sum. She ordered the accused to pay N250, 000 into the court’s Chief Registrar’s account as part of the bail conditions. Akanni adjourned the case till June 6 for mention.

217 human traffickers jailed, 885 victims rescued Juliana Francis

he National Agency for the Prohibition of Trafficking in Persons and other related matter, (NAPTIP) said 217 traffickers it prosecuted had been jailed while it rescued 885 girls. The Lagos Zonal Commander, Joseph Famakin, said this yesterday at the anti-trafficking casework specialised training for investigators and prosecutors of NAPTIP held at the Airport Hotel, Ikeja, Lagos. Famakin said the agency was making success in the fight against human trafficking and rescuing of victims. According to him, 58

cases are pending in various courts. He added that seven cases were at Appeal Court, while two were at the Supreme Court. Famakin said in 2014, 316 girls were rescued, while in 2015, 417 girls were rescued and from January to May this year, 152 had been rescued. The zonal commander said the law on human trafficking had been enhanced and amended in 2015. According to him, the law is now stringent, with many of the offences void of fine. He said: “Trafficking is the most profitable crime, coming after arm smuggling and drug traf-

ficking. Traffickers are known to the victims. The traffickers present themselves as messiahs to the victims, but we are doing a lot of advocacy work and enlightenment. It is our responsibility to rescue trafficked victims.” Mr. Mikael Jensen of United Nations Office on Drug and Crime, who is the project coordinator of Trafficking in Persons and Smuggling of Migrants, said: “The training is for NAPTIP investigators and prosecutors. It is the second round we are doing. We did one four months ago in Enugu and this is the advance course. “The project is sponsored by government of Japan. It is a drastic re-

sponse to NAPTIP. It is a European Union (EU)funded project that has been running for the past five years.” The training of NAPTIP investigators and prosecutors, which started yesterday, will end on Friday.

Mr. Godwin Morka of NAPTIP, Jensen(middle) and Famakin

Catholic priest’s kidnap: Ortom offers N5m reward

Adeyi

Cephas Iorhemen MAKURDI

overnor Samuel Ortom of Benue State yesterday offered to pay N5 million for information on the whereabouts of Very Rev. Father John Adeyi, the kidnapped Vicar General of Otukpo Catholic Diocese. Otorm said in a statement issued by his Special Adviser on Media and ICT, Chief Tahav Agerzua, that it was regrettable that one month after the unfortunate incident, security agents were yet to apprehend the culprits and rescue the priest. He appealed to members of the public to assist with information on the whereabouts of the priest. The governor said any

person or group who offered such information would be paid N5 million as reward. Ortom said security agents had acted on previous information and combed several places without positive results, hence the imperative of making the offer. The governor also solicited sustained prayers for the release of the priest because, according to him, with God, nothing is impossible. He assured the Christian community that the government and entire people of the state were in solidarity with them for the rescue of the priest. Ortom also condoled with the family of General Gabriel Kpamber, who lost his life in a motor accident at the weekend. He prayed God to comfort the family and the entire people of the state on the loss. The governor said after serving his country meritoriously in the Armed Forces, the late Kpamber also offered dedicated service to the state as chairman of the Benue State Independent Electoral Commission (BESIEC).

Osun communities reject Iree as LCDA headquarters

eople of Ada, Aagba and Ororuwo communities, formerly in Boripe Local Government Area of Osun State, have protested the naming of Iree as the headquarters of the newly created Boripe North Local Council Development Area. The protesters, including the youth and market women, last Friday carried placards and moved around the three communities to express their dissatisfaction with the position of the administration of Governor Rauf Aregbesola on the matter. The Chairman, Ada Development Council, Mr. Adewale Abimbola, told journalists later that the protest was to let government know that it had done a great injustice to the three communities by going against the wishes of their people and making Iree the headquarters of the new LCDA. He said: “Following the announcement of Iree as the purported headquarters of Boripe North Local Council Development Area by the government on March 8, Ada, Aagba and Ororuwo that jointly requested for the location of the Boripe North LCDA headquarters at Modaa,

Ada, spontaneously and unanimously registered their objection and dissatisfaction via a letter of protest dated March 12, 2016. “The said letter of protest was addressed to Governor Rauf Aregbesola and was presented to him by the combined entourage of eminent personalities led by the three traditional rulers of Ada, Aagba and Ororuwo during their visit of March 14, 2016 to the Government House in Osogbo.” Earlier, the Chairman of Aagba Development Council, Hon. Anthony Oladipupo, read out their five-point demand as contained in their communiqué. He said the three communities would remain undaunted in their request for Modaa, Ada as the headquarters of Boripe North LCDA.

The protesters

NEWS | national

Unsolicited messages: We’ll soon deal with telecoms operators, says minister

Sola Adeyemo Ibadan

inister of Communication, Alhaji Adebayo Shittu, yesterday expressed the Federal Government's displeasure with mobile telecommunication outfits operating in the country over their failure to heed his directive to stop ripping subscribers off through unsolicited caller tunes and messages.

The Minister, who spoke in Ibadan at a guest forum organised by the League of Veteran Journalists of the Oyo State Council of the Nigeria Union of Journalists, threatened that his Ministry would soon deal appropriately with the situation since his directive to the operators had not yielded any fruit. He said: "I read a riot act to the operators about two months ago to stop charging subscribers on unsolicited calls and

short message services (sms), as well as caller tunes unsubscribed to. Today, they have not yielded to that directive. “The Nigerian Communications Commission (NCC) had also held meetings with them. What they are doing amounts to someone being given a long rope to hang himself. We have given them enough opportunity to do the needful, I can assure Nigerians that we are going to act appropriately," Shittu

said. On the moribund NIPOST, the Minister said that he had discovered that the agency has a lot of potentials that could generate funds and services to the people. He said the Federal

The number of fixed (wired)-broadband subscriptions per 100 inhabitants of developing countries in 2007. Source: Itu.int

Government would soon convert the facilities to NIPOST banks to assist rural dwellers in financial transactions without bothering to come to the urban centres to get access. "Before I became Minister, I never knew NIPOST has potentials that could be tapped into. We are going to start NIPOST bank like it is being practised in China. This will help our rural dwellers by promoting financial inclusiveness.

Union leaders ask members to disregard strike Muhammad Kabir Kano

he leadership of the National Harmonised Traders Union yesterday rose from a meeting in Kano, directing their members across the nation to disregard the call by some labour leaders to embark on strike tomorrow. They said their members should open for business and not heed the call to stay away from their

businesses. The union’s position, which was handed down through a communiqué issued and signed by its President, Dr. Bature AbdulAziz, said they have taken a position not to join the purported NLC planned strike. He said their reason was not far from the fact that NLC had failed to provide sufficient reasons for their action and that the removal of subsidy has been well agitated and had become desirable.

Ambode approves 70-year retirement age for professors Mojeed Alabi

he Lagos State Governor, Mr. Akinwunmi Ambode, has amended the Acts establishing the Lagos State University, LASU, Ojo, to accommodate the 70-year retirement age for staff of the institution in the professorial category and 65 years for other category of workers. The new development, which is in response to the demand by the Academic Staff Union of Universities (ASUU), will

now put to rest the recent crisis ignited by the notice of retirement issued to some professors, who are about to clock 65 years of age by the university management. According to a statement issued yesterday by the institution's Centre for Information, Press and Public Relations, the university commended the governor for acceding the staff request. Meanwhile, the university management has extended the resumption time for the students to Wednesday, June 1.

DICON moves to boost industrial development

he Director General (DG) of the Defence Industries Corporation of Nigeria (DICON), Major-General Bamidele Ogunkale, has inaugurated the Public Private Partnership (PPP) unit at DICON headquarters. While making a remark during the inauguration ceremony, the DG said DICON requested for approval to execute a Joint Venture Agreement (JVA) between her and PROFORCE Limited for designing and producing Armoured Personnel Car-

rier (APCs) for armed forces and other agencies at the 97th DICON board meeting held at the headquarters in Kaduna earlier this year. According to him, the board directed that all proposed JVAs should be forwarded to the Infrastructure Concession Regulatory Commission (ICRC) for its technical input and in line with due process, which dovetailed into the recent training programme packaged to broaden the horizon of DICON management staff on PPP matters.

Sokoto State Governor, Aminu Tambuwal (middle); Alhaji Muhammad Bunza (second right) and others, during a facility tour to Niger Delta Power Holding Company (NDPHC) worth N3.3bn to boot power infrastructure in Sokoto state.

Ibraheem Musa Kaduna

housands of beggars under the auspices of the Joint National Association of Persons with Disabilities (JONAPWD) yesterday stormed the Kaduna Government House to demand for the withdrawal of the antibegging law until Governor Nasir El-Rufai fulfills his campaign promises of providing for their welfare. However, security operatives blocked them from

agos State Government yesterday assured residents of coastal communities in the state that N36 billion has been set aside to proffer a lasting solution to the incessant ocean surge in the state. Commissioner for Waterfront Infrastructure Development, Adebowale Akinsanya, who made the disclosure yesterday, said the fund is meant for the construction of 18 sea breakers (Groynes) at intervals of 400 metres along the entire length of the 7.5km

Sokoto youths issue five-day deadline to KEDCO Umar Abdullahi Sokoto

rked by power outages in Sokoto State, a group, the Coalition of Youth Association (COYASS) yesterday issued a five-day ultimatum to the Kaduna Electricity Distribution Company (KEDCO) to harmonise the megawatts’ sharing formula and implementation or face a mass protest. Chairman of the group, Alhaji Aminu Abubakar, who spoke yesterday while briefing newsmen in Sokoto, said the failure of the electricity company to comply with their demands, will result in protests. He expressed dismay about how the company is treating Sokoto State customers as far as the supply of electricity is concerned. According to him, the current power shortage and its epileptic nature and the exorbitant tariff being asked to be paid in Sokoto, is too way outrageous and unbecoming. The chairman said over 200 Sokoto State indigenes working as casual staff with the then NEPA, PHCN and the present KEDCO, were sacked and replaced with Kebbi State indigenes since the takeover of the distribution of electricity within the Sokoto axis.

Beggars storm Kaduna Govt House, demand repeal of anti-begging law gaining access into the governor’s premises. An Amoured Personnel Carrier (APC) was also stationed at the entrance, a few metres away from the main gate, while armed policemen took strategic positions around the Government House. Spokesperson of the group, Muntari Sale, expressed dismay over the governor’s alleged non-

chalant attitude towards people living with disabilities, adding that they will not relent in their protest until the governor fulfills his promises. "We demand that the governor of the state, Malam Nasir El-Rufai and members of the House of Assembly fulfill the promises they made to us during their campaign while seeking

Lagos tackles ocean surge with N36bn Muritala Ayinla

tuesday, may 17, 2016 NEW TELEGRAPH

ocean line between Goshen Estate and Alpha Beach. He said Phase 1 of the project, which is the construction of three sea breakers, commenced in January 2013 and had been completed, adding that Phase 2 of the project, which is the construction of 12 others was awarded in June 2013 and that work on the project commenced in January 2014. According to him, “As at the beginning of this administration, a 4km stretch of the shoreline was protected and in the last 12 months, 6.0km has been successfully protected while work is still on-

going. Total percentage of work done so far on Phase 2 is 80 percent. On Phase 3, which is the construction of three groynes of the project, the contract has been awarded and work has since commenced.” He said each groyne costs N2 billion and that the project was awarded in November 2012 and divided into three phases for funding reasons. Akinsanya also disclosed that the state government has approved the development of three islands in the state, which are Diamond, Orange and Gracefield Phoenix Projects.

for votes. The governor promised he would not ban street begging until he makes adequate arrangement for our upkeep and welfare. "He promised that 30 per cent of our members would be giving employment anytime the state government has a programme running, which has not been met, he also promised to provide for the sick, educate our children and employ those with different skills with a view to easing the suffering of the people living with disability. "This law was passed in Kano, Edo and Lagos States as well as the FCT and they did not succeed, the government has not made adequate arrangements for us and yet it wants to ban us from our only source of livelihood. “We are human beings like everyone, the way everybody is delivering children, that is the same way we are, the way people marry is the way we marry and the way parents try to educate their children is the same way we try to educate ours,” Sale said.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Party politics How Umahi prevented crisis at Ebonyi PDP congresses

Politics

2019 Enugu PDP repositions

12 13

Dominic Adewole reports on the recent meeting of the SouthSouth Peoples Democratic Party (PDP) governors in Asaba, Delta State and their resolve to ensure the return of Edo State to the party’s fold by winning the September 10 governorship election

ive governors of the Peoples Democratic Party (PDP) in the South-South geo-political zone recently met in Asaba, Delta State capital and resolved to reposition the party to be victorious in the forthcoming elections, starting with the September 10 governorship poll in Edo State. Besides politics, the governors – Ifeanyi Okowa (Delta), Udom Emmanuel (Akwa Ibom), Nyesom Wike (Rivers), Seriake Dickson (Bayelsa), and Ben Ayade (Cross River) respectively, came up with other far reaching decisions, including security challenges posed by the Fulani herdsmen and pipeline vandalism in the Niger Delta region. While the governors insisted that nothing will stop them from returning Edo State to the PDP fold come September, they opted not to disclose their strategy, which they said is weighty enough to unseat the ruling All Progressives Congress (APC) in the state. Edo State was formerly under PDP’s control like other states in the South-South from 1999 till 2008, when the Court of Appeal annulled the election of Prof. Osariemen Osunbor, and ordered that the candidate of the then Action Congress of Nigeria (ACN), Adams Oshiomhole, be sworn in as governor. While the PDP in the Heartbeat state has not known peace since then, Governor Okowa, who addressed journalists on behalf of his colleagues, said deft strategies have been mapped out to reposition the party for a better performance in the September election, so that

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

L-R: Dickson, Wike, Okowa, Emmanuel and Ayade after the zonal meeting.

Edo guber: S’South PDP govs dream big the PDP in Edo State will take back what rightfully belongs to it. His words: “We discussed issues bothering on the PDP in Edo State, one of our sister states. You will recall that the state will have election in September this year and we have tried to map out strategies in order to strengthen the party in that state. By the grace of God, we are putting our house in order to win Edo, and as a politician, I will not tell you our strategies. We would not let the cat out of the bag for now because we are putting things in shape at the moment. In short, we have a very useful meeting and it is the first that we have had since we were sworn-in.” According to Governor Okowa, the forthcoming convention of his party, billed for Saturday, May 21, 2016, would strongly address and lay to rest the intrigues in Edo PDP. “We also discussed our party, the PDP. You will recall that our convention has been fixed for Port Harcourt on May 21, and we are already putting things in place for that convention. “The chairman of the committee is the host governor, Nyesom Wike, and we call on our supporters and members to desist from anything that would cause any form of crisis. We want to go as a united body to Port Harcourt because we stand by the decision to hold the convention. Plans have been put in place for a wonderful

We are putting our house in order to win Edo, and as a politician, I will not tell you our strategies

convention,” he said. On the issue of security, he said they decided that there will be the need for the South-South governors to have a meeting with President Muhammadu Buhari. Though he refused to disclose issues to be discussed, he however revealed the President would be put on his toes over the nefarious activities of Fulani herdsmen in some states, including Delta. While the South-South PDP governors are sure that their strategies will ensure that their party regains Edo State, the APC said the governors would be chasing shadows if they think they that their party would win the September 10 election. Governor Oshiomhole’s Political Adviser, Chief Charles Idahosa, who spoke on the party, warned the PDP governors to be ready to meet their waterloo in the Heartbeat state. He said: “They failed to win here even when PDP was in power with all their rigging machinery, so is it now they think they can win? Their boast is a huge joke because they suddenly realised that Edo is a state they must win by all means. “It is so strange that they are just waking up from their slumber to realise that they want to take over Edo State considering the fact that for eight years, all the instruments of rigging and oppression they had, they were unable to take

Edo State. “Because they have failed in the governance of their respective states with all the backlog of salaries, now want to divert attention to Edo. They must first of all rescue their states and put them back on the part of progress and development like Edo State before talking about winning. It is even more laughable because if not for the strange Supreme Court judgment, they would all have gone. “Let me tell them, Edo State is not Bayelsa or Rivers where Nyesom Wike thinks he is a superstar. The whole world knew how the governorship election in that state was rigged. The South-South PDP should shut up. This will be another wide goose chase, but we are waiting for them in Edo State. We are aware they are planning to import ex-militants to come and rig for them in Edo State, but they will meet their waterloo.” The governor’s aide added that the PDP governor’s in the SouthSouth have no moral justification to talk about Edo State, advising them to come and learn how Oshiomhole has successfully ruled the state so far. While the clock ticks to the September 10 showdown, it is left to be seen what strategies the SouthSouth PDP governors will come up with to unseat the ruling APC in Edo after being out of power in the state for about eight years.

POLITICS

UCHENNA INYA writes on the just-concluded PDP congresses in Ebonyi State which ushered in new leadership of the party without acrimony

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

How Umahi prevented crisis at Ebonyi PDP congresses

he People’s Democratic Party (PDP) congresses conducted in Ebonyi State at the ward, local government and state levels, were devoid of violence, bitterness and rancour that led to court actions and parallel congresses in some other states. Before the congresses, there were series of meetings which the state governor, Chief Dave Umahi, spearheaded on the need to have hitch-free congresses in the state. He warned against internal wrangling, which he said will not do the party any good especially now it is undergoing self-recreation to ensure that it bounces back to power at the centre in 2019. While addressing stakeholders of the party in one of the meetings at the Ebonyi PDP secretariat on the Enugu-Abakaliki expressway during an enlarged State Working Committee (SWC) meeting, Umahi said internal wrangling among the party stakeholders will not be helpful as a party in opposition. "We are in opposition, so we should not quarrel. What we are doing is what we thought God led us to do and is such that even if you are a governor, senator, member of House of Representatives or any person that wants to vie for political position, you can't sit in your house alone, you must seek the consent of the stakeholders where you are vying for. So if you did not produce the party chairman, don't be angry because you need more than a party chairman to get where you are going." And on Tuesday last week, when the party held its state congress to elect new state officers of the part, Umahi told journalists shortly after casting his vote that the exercise held at the Abakaliki Township Stadium was the most peaceful and the best so far in the state and that the success of the congress was attributable to the peaceful deposition of PDP members in the state. He said a situation where one contestant emerged for each of the available 27 positions available, explained vividly the peaceful nature of the PDP congress and thanked the Speaker of state House of Assembly, Hon. Francis Nwifuru, for his contributions towards the success story of the state congress. His words: "As you can see, this congress is the best so far in the land of Ebonyi State. Everything is peaceful. I don't think we have two people contesting for one position. But by due process, the chairman still insisted that voting must take place and I commend him for that. This is a new PDP, a new spirit and as you can see, Ebonyi State is totally PDP." Umahi applauded the maturity of PDP stakeholders who

Governor Umahi (middle); his deputy, Igwe (left) and Senator Egwu at the Ebonyi State PDP congress in Abakiliki, recently.

ensured that positions were harmonised such that every position was won unopposed. On the allegation of imposition of candidates, the governor said that as a former party chairman, deputy governor and now governor of the state, he understood the negative effect of imposition of candidates; hence, he would not be party to such. He stated that politics had not eroded the culture of Ebonyi people, who are very peaceful and accommodating, expressing optimism that the new PDP executive, led by Barr. Onyekachi Nwebonyi, would surely take Ebonyi PDP to an enviable height. He however acknowledged that the party was undergoing self-recreation in preparation to reclaim power at the centre in the 2019 general elections. He charged the newly elected leaders of the state PDP to shun bribery and corruption in piloting the affairs of the party even as he applauded party leaders in the state for their tolerance, understanding and peaceful conduct throughout the party’s congresses. On the PDP-led government future plan for the state, he said his administration will between the months of May and June inject N3 billion to boost the state's economic strength. According to him, N2 billion would be injected essentially through awards of contracts to indigenes who have registered businesses. Umahi further said that the government would ensure that indigenous youths and women participate in bidding for some of the contracts that the state would be advertising soon. He added that the state government has also put forward N1 billion being part of the loan it borrowed for rice production waiting for cooperative societies, big and small farmers, who will show interest for soft loans.

This is a new PDP, a new spirit and as you can see, Ebonyi State is totally PDP

"Between May and June, we will be injecting about N3 billion into the system for contracts for people to benefit especially the youths and women to be exposed to bids and I believe God that they will qualify and get job," the governor said. He said the amount to be injected into the economy within the stated period would be spread across the rural areas as he noted that since after the 2015 general elections, funds have not been adequately flowing to the rural areas but was optimistic there would be a difference when the N3 billion is made available to the system. The governor said his administration would not encourage capital flight, assuring that any job Ebonyi man could do under his government such person must be giving opportunity. Speaker of the State House of Assembly and chairman of the party's Harmonisation, Reconciliation and Zoning (HRZ) Committee in the state, Hon. Nwifuru, noted that harmonisation measure was taking in order to douse tension and pressure associated with such election. "The exercise captured the interest of stakeholders as we want to ensure that they were satisfied with the manner it is conducted,” he said. The state congress saw the reelection of all former executives of the party, including the state chairman, Chief Ugorji Ama-oti, returning unopposed with a total of 205 votes. Declaring the results of the election, Chairman, PDP National Congress Committee, Ebonyi State, Samuel Obande, expressed satisfaction over the performances and orderly conduct exhibited by the delegates during the election. He added that if the elections were conducted in such fashion in other states the country, issues of violence, thuggery and

hooliganism would be a thing of the past. Obande, who attributed the success of the election to the peaceful disposition of the leadership of Governor Umahi and former Governor Martin Elechi, pointed out that the election was a reflection of the cooperation, oneness and togetherness existing in the party over the years. The Chairman of the party’s Ward Congress Committee to Ebonyi State, Mr. Emma Okah, who also expressed happiness over the conduct of the congress, said the exercise in the state shows PDP's willingness to become stronger and the party’s poise to take over power at the national level in 2019. In his acceptance speech, Chairman of the party, AmaOti, thanked the committee for strictly abiding by the rules and regulations governing the conduct of PDP election. He assured the people of his commitment to take the party to the next level vis-à-vis the forthcoming governorship election in 2019, adding that no amount of opposition from other political parties would make the party drift from prosecuting the set standards required to move the state forward at all times. “I will make sure that the party under my leadership waxed stronger and stronger every time. I want to assure the people of the state, the governor and lovers of PDP that I am committed to the party always and would ensure that no amount of opposition will make us drift away from what we intend to achieve for the people of this state,” he said. Chieftains of the party in the state, including former Governor Sam Egwu, Senator Obinna Ogba, Deputy Governor Kelechi Igwe and the immediate past Minister of State for Health, Engr. Fidelis Nwankwo, also attended the state congress.

POLITICS

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

2019: Enugu PDP repositions CHARLES ONYEKWERE reports on the recently conducted congress of the Peoples Democratic Party (PDP) in Enugu State and the stakeholders' resolve to reposition the party ahead of the 2019 general elections

he Enugu State chapter of the Peoples Democratic Party (PDP) like other state chapters of the party recently conducted the state congress to elect new officers that would pilot the affairs of the party in the next four years. The election saw a former chairman of Isiuzo Local Government Area of the state, Hon. Augustine Nnamani, as the new chairman of the party. Other members of the state executive of the party, who emerged during the state congress held at Okpara Square, include Mr. Innocent Ezeoha (Deputy Chairman) Mr. Cletus Akalusi (Secretary), Barr. Christian Ani (Legal Adviser), Obiora Ugwuoke (Treasurer), Mr. Alphonsus Orji (Financial Secretary), Onyeka Onwe (Auditor), Dr. Christian Iyiani (Organising Secretary), Mrs. Vera Ezeugwu (Woman Leader), Patrick Okoh (Youth Leader) and Jude Ugwu (Publicity Secretary) among others. Nnamani was returned unopposed through a `Yes’ vote by delegates. He polled 954 votes out of the 984 votes cast by delegates drawn from the 17 local government areas in the state. The new Enugu PDP chairman is from Enugu East senatorial zone, while the immediate past chairman is from Enugu North. Addressing party delegates and faithful, who witnessed the exercise, Governor Ifeanyi Ugwuanyi and the Deputy Senate President, Ike Ekweremadu, both expressed happiness that there is now genuine peace and harmony among stakeholders of the party in the state and called for cooperation of all to enable the new party exco and the state government to succeed. Ugwuanyi said: “I wish to congratulate all elected officials of our party at all levels, and I am sure you will approach your duty with commitment and zeal. The task before you, that is the repositioning and strengthening of our great party especially in the light of the fact that we are now in the opposition at the federal level is one that you must indeed discharge without failure. “It calls for unity of purpose of all party members. We must all rally round the new party executive that we have elected today and give it the support it requires to move the party forward. We also expect the executive to give all party members the opportunity to make their contributions to the progress of the party for everyone must play his part and everyone is important.” Ekweremadu on his part stated

Ekweremadu (left) with Ugwuanyi during the congress

that the new executive was lucky because it was coming at a time when there is unity among major stakeholders of the party in the state, unlike its predecessor whose time was characterised by divisions between the governors then and Abuja-based politicians or other party leaders. The Deputy Senate President said that the smooth conduct of the congress had put the party in a better pedestal to achieve success, adding that the aspiration of the founding father of Enugu State was peace, and peace was achieved at the congress. He praised the leadership shown by Governor Ugwuanyi in ensuring that the party staved off crisis all through the period of the congresses, saying that for the first time in the past years, Enugu PDP would be operating under one united fold without factional cleavages His words: “With due respect to past state party chairmen in the state, Mr. Ikeje Asogwa, has emerged as the most successful because he is handing over a most peaceful state to the new chairman. I remember at a time in the state, we had the Okwesilieze Nwodo and Chimaroke Nnamani factions. At another time, we had the Abuja and Enugu groups and finally the Sullivan Chime group and Ike Ekweremadu factions. “But today, we only have the Ifeanyi Ugwuanyi group in Enugu State and we are going to give the governor our result in the year 2023 when we present our certificate to him.” In his acceptance speech, the new chairman of the party, Hon. Nnamani, thanked all party leaders and faithful for electing him and his new executive without rancour. "It is indeed a day we have come together as one united family to express our commitment to the efforts of the state leader of our party and dynamic governor, Hon. Ifeanyi Ugwuanyi, to advance good governance in Enugu State. “I sincerely thank every one

The repositioning of our great party... is one that you must indeed discharge without failure

of you for the synergy we have enjoyed today in successfully changing the baton of our party’s leadership in Enugu State devoid of rancor or acrimony. Today, we have all witnessed the impressive pace of development in Enugu State despite the current economic challenges in the country caused by the slump in the prices of crude oil in the global market. Governor Ugwuanyi’s administration in spite of the state’s lean resources has embarked on massive roads construction and other infrastructural development across the state, especially in the rural areas. "This noble feat is as a result of the uncommon style of leadership of our governor, who has made peace and passion for good governance the watchword of his administration in line with the manifesto of our great party. “As you have unanimously elected me to pilot the affairs of our party in Enugu State, I hereby accept this responsibility with all sense of humility and commitment in consonance with the sound vision and mission of the leader of the party in the state, Governor Ifeanyi Ugwuanyi. I commit myself and my leadership to the laudable programmes and policies of his administration, which were carefully designed to impact positively on the lives of our people and give them a sense of belonging. “I will work with other party officials at the ward, local government and state levels, to further strengthen and reposition our party for the challenges ahead in view of our status as an opposition party at the national level. I am aware of the task before us, and I wish to call on all party faithful to rise to the challenges of sustaining the confidence reposed in us by our people to lead the state since 17 years ago. “We can achieve this if we continue to work in synergy as one family. We can also achieve this if we continue to support the laudable vision of the governor and encourage him to do more for our people, the electorate who came

out in their numbers to vote for our party during the general elections. These are all we need to do to be able to move our party and state forward. And I promise to be in the vanguard of this noble course as your state party chairman.” The electoral officer from the PDP national secretariat, Alhaji Ibrahim Bashir, had earlier commended members of the party in the state for the peaceful conduct of the ward and local government congresses as well as the level of maturity they displayed at the state congress. The Independent National Electoral Commission (INEC) also endorsed the process that produced a new state executive committee, describing the exercise as transparent and worthy of emulation. INEC’s Administrative Secretary in the state, Dr. Okwu Aniemene, who represented the commission during the congress, also commended Governor Ugwuanyi and the leaders of the party in the state for steering the party in such an orderly manner as to produce a new set of executives without rancour. Aniemene noted that INEC fully endorsed the peaceful and transparent process that produced the new state executive committee of Enugu State chapter of the PDP. “The exercise as well as conduct and comportment of PDP members was transparent and worthy of emulation by other political parties in the state,” he said. Party stakeholders, in their respective goodwill messages, expressed their support for the state governor and commended the excellent relationship between members of the PDP family. They therefore urged the new executive to emulate the exemplary leadership qualities of Governor Ugwuanyi. The congress attracted other PDP stalwarts in the state including former Minister of Aviation, Mrs. Fidelia Njeze, National Assembly members, and former deputy governors of the state.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Opinion Buhari: It’s time to talk at home My Word CLEM AGUIYI totalpolitics@ymail.com 0803-474-7898 (sms only)

e seem to be talking but not to each other and without also listening to the other person. By implication we may be saying the same thing, making similar demand and yet disagreeing very vehemently. Despite being drawn to the nostalgic feeling of Biafra which to me is more spiritual than a physical thing , I still believe that the future of Nigeria is redeemable if we can have the right leaders who will work for the common good of all, hence I acknowledge President Muhammadu Buhari’s recent stance on the unity of Nigeria and how we must stick together or sink together. To him, this inconvenient marriage is for better for worse and no one should think of a divorce. Between 1966 to 1970 we fought a bitter civil war that claimed the lives of over two million people including women and children. Fifty years later we are still recovering from the trauma of the war. It will be a complete disservice to the memories of those that died in the war if we disintegrate now Coming from the President who has not been fair to my people as he is fair to his Hausa Fulani stock is a music to the ear. Often he says the right thing when he reads from prepared scripts thereby bringing into focus what goes on in his head and heart. What has he done to bring the country together since he became president? Can he say he has tried to reach out to frayed nerves and assuage feelings. I expect the President to acknowledge the people’s right to self determination. I expect him to acknowledge that Nigeria is not working and needs to be beaten into shape to fit our aspirations as citizens of a great nation. By the way I applauded him when he acknowledged that Nigeria is fantastically corrupt but that David Cameron and Britain should do well to return the looted funds hiding in British banks.

I expected the president to acknowledge that Nigeria has been unfair to the Igbo, that his government has equally been unfair , even if he acted unknowingly . I expected him to accept that Nigeria can be made to work for the common good of all. I don’t want divorce from Nigeria if we can find a way to live in peace and unity rather than gleefully murdering each other as some criminal elements within the rank of the Fulani and the Kanuri have done in recent past. I support the unity of Nigeria so long as it is at the expense of all and not just at my expense. It’s no more okay to kill my people or place obstacles on our ways to liberty, fulfillment and prosperity. Every part of this country must enjoy equal rights and privileges. No Nigerian should be treated as first class or second class citizen. Part of reasons for loss of faith in the country is the fact that we have people, select few who are enjoying privileges and having advantages that they want to remain exclusive to them. These elements get furious and angry the moment the other persons makes demands that will allow them enjoy similar advantages and privileges. For us to have the kind of unity that we can die for, the country must be able to evolve common policies that will serve the common good of all others. We must be courageous to acknowledge that Nigeria as it is now is not the country of our dream,; it isn’t good enough to die for. You cannot have a fantastically corrupt country and yet be happy inside it. It also appears the President is fighting on all fronts. Our cycle of violence appears to know no end. It has moved from the South-West to the creeks of Niger Delta and up to the North East. With the coming of PMB, the violence had moved again to the South East and then North Central . I think it’s time we sat down and talk about this country and our future in a way we have not done before. It’s shameful and a bitter truth that we are investing billions of dollars in defence budget to maintain internal security. Every of our lethal military weapons are not used against Cameroon, Chad, Niger or Benin Republic rather we deploy our most brutal of forces to crush the people of Niger Delta, Igbo, Kanuri , Yoruba and the Hausa shite Muslims. It’s a shame that we have refused to address citizenship rights and indigenship. Because of our failures we now live with bitterness and hate in our hearts. Otherwise what is the big deal in embracing modern method of breeding cattle like ranching, what is the big deal in disarming terrorists masquerading as

It’s a shame that we have refused to address citizenship rights and indigenship

herdsmen? To treat Igbo land as a conquered territory and use threatening and inflammatory language is not the style of a man who wants peace hence I frown at the statements coming from some Northern elders and politicians over the activities of this terror group , which obviously is an offshoot of Boko Haram. Those who love Nigeria must collectively resist anyone with sectarian agenda, who is determined to disadvantage others for the benefit of a section of the people. We must demonstrate that we value the farmers and their farms the way Miyetic values Fulani herdsmen and their cattle. We the Igbo are not chasing the Fulani people away from Igbo land. Miyetic Allah and their likes are falsifying the argument in order to win it. They are lying to their true motive and intentions. The issue is that the armed Fulani militia with AK47 is sent to take and sack villages in the Middle Belt and South Nigeria so as to forcefully take over their land. This is naked and unprovoked aggression. The contempt for the people is shown in the grazing of cattle in their farms. The Fulani have always been in south but have become more brazen because they never see themselves as Nigerians but a Fulani who is determined to get whatever they want from Nigeria, otherwise it would have been obvious to them that destruction of farm lands is criminal and immoral There is a deliberate plan to precipitate conflict by painting Igbo as wanting secession in spite of the fact that IPOB is a small group. Nobody used Boko Haram against the North, the way Buhari is using IPOB against Igbo. If we do not have leaders who can handle this matter. We should look for them because the grouse of IPOB can be discussed without a gun shot. Again Climate change is an excuse which we must debunk. We must discard the script of Darfur in the Middle Belt and South Nigeria. There is no region in Nigeria where people cannot settle lawfully. In guns, germs and steel, Diamong argues that in the history of the world, those who have guns rule those who do not have guns and that the things that helped Europe ( the white man) to conquer the world are guns, steel and germs. The Fulani seem to have the three in Nigeria and many Nigerians a growing impatient and unwilling to remain slaves to anyone or group. I honestly believe it’s time we begin to talk to each other and listen to each other for the sake of our collective future.

Leiceister City and the will to win The greater the obstacles We overcome, in achieving our dreams, The greater the glory. – John Harold Johnson

Ayo Oyoze Baje

t has thrown our soccer-crazy world into global frenzy; shattered long-held myths and made mince- meat of book maker’s predictions. Some call it a fairy tale, while others, like yours truly would dub this uncommon football feat the ‘fable of the Foxes’. Of course, we are talking of no other victory than that of the 132-year-old Leiceister City Football Club of England, which at 5000 to 1 odds against the regular top-four clubs such as Manchester United, Manchester City, Arsenal and Liverpool, rose stoutly to clinch the coveted Premiership Title for the 2015-2016 season. Thus, it has reinforced Napoleon Bonaparte’s wise counsel that, ‘the word impossible can be found only in the dictionary of fools’. Indeed, we are not telling tales from any fool’s paradise. This is stark reality. For once, media attention was drawn away from the unrelenting war on terror

and the upcoming Presidential elections in the United States. Even here in Nigeria, the recurring ugly decimal of unending fuel crisis, escalating food prices, the intractable power outage, resurgence of militancy in the Niger-Delta region and issues relating to our anti-corruption czar, the globe-trotting president all took the back seat. Instead, it was riveted on the man of the moment, Claudio Ranieri, the 64-yearold Italian-born coach, who was appointed Leiceister’s helmsman on July 13,2015.On the first trial the team escaped relegation battle by a hair’s breadth. That was the previous season, only to turn the soccer tide swelling in his team’s favour on May 2, 2016! That span of 294 days made another history, as the shortest by any EPL coach to take over a team and guide it all the way to the top. Claudio must still be reeling in cloud nine. But he is not alone. The 24-year-old Levi Taylor is another. As a die-hard fan of Leiceister City, he smelt victory when others looked the other way. With three audacious bets of his favourite team winning the trophy, placing in the top-four and finishing amongst the top six, he is currently smiling to the bank with 33,000 pounds! ”It’s fantastic, this has changed our lives”, he exclaimed .With that, he has set up himself and his girlfriend, Adele in a new house, finished the payment on his car and booked a holiday in Greece. Wow!

As expected, encomiums keep pouring on Ranieri from places far and near. Not left out is his 96-year –old mother, Renata who confessed she started crying once the victory became a reality. Beyond describing the players as ‘true professionals’ she now calls her beloved son the ‘King of England’. Do not begrudge her. Even, the once-upon-a-time Special One, Jose Mourhino congratulated ‘the coach, the fans, the owner and the entire team’. On his part, the penny-pinching Arsenal boss, Arsene Wenger whose team, many pundits swore would have a field day this concluded season, confessed that he had never witnessed a victory as profound as that of Leiceister City. And talking about the team, there is more than meets the eye about the bunch of once lowly-rated players, such as Jamie Vardy, Riyad Mahrez, N’Golo Kante, Danny Drinkwater and ace keeper, Kasper Schmeichel. Their combined signing fees cannot be compared to that of individual stars such as Mesut Ozil, Wayne Rooney, Alexis Sanchez, or a Yahaya Toure. So, what was the magic wand that inspired them to re-write soccer’s history books? More significantly, what lasting lessons should we all glean from their exemplary exploits? That is the billion- dollar (sorry, pound) question. The answer, we dare say lies within the tenets of unshakable self-belief, a clear vision of what we want and the relentless pursuit of our goals with courage, charac-

ter, commitment and of course consistency. As Ralph Waldo Emerson would say, consistency is the unfailing key to success, in any venture. There is never any gain without pain, as omelets are made by breaking eggs. As now patently evident, Ranieri certainly had absolute confidence in the ability of his team to pull off this feat. Said he: “From the beginning, I felt something special, their professionalism was fantastic.” Indeed, with only three games lost in an entire season, their sheer determination conquered all the odds. And that again, re-echoes Sam Walton’s words of wisdom, that in life, “individuals don’t win but teams do.” That brings us to the willingness to pursue one’s dream, no matter how daunting the obstacles may seem. That rare, ‘can-doit’ spirit; to keep pushing, with focus on the finishing line instead of being distracted by the jeers and cheers of the onlookers always pays off at the end. For instance, Abraham Lincoln failed 10 times in politics before claiming America’s presidency. According to Charles Albert Poissant, the author of How to think like a millionaire, an engineer simply called Mr. Head tried 47 times before he could make the first metal ski. Similarly, Dr. Ian Wilmot made 277 attempts before he succeeded with the first cloned mammal-a sheep called Dolly. •Baje, a public affairs analyst and media consultant writes from Lagos.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

EDITORIAL

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Killing in the name of petrol

Day is here as Nigerians await Federal Government’s response to the 96-hour ultimatum issued by Labour last Friday following the hike in the price of petrol (Premium Motor Spirit PMS) from 86.50 Naira per litre to 145 Naira per litre which represents 67.63 percent increase. The Nigeria Labour Congress (NLC)and the Trade Union Congress (TUC) rose from a meeting last Friday and vowed to shut down the country if government failed to revert to the old price before the end of today. NLC boss, Ayuba Wabba, described the removal of subsidy as “not only ultra vires and illegal but also a criminal imposition on the citizenry.” More Nigerians have also come out to ridicule the Federal Government for forcing extra rounds of hardship on the masses. Former Kaduna state Governor Balarabe Musa was joined by a member of the ruling All Progressives Congress (APC) and senator of the a Federal Republic, Dino Melaye, who was on President Muhammadu Buhari’s entourage to the London Summit on corruption. This present hike coming from a government that promised to be on the side of the people clearly demonstrates that under the new dispensa-

tion the voice of the people does not matter. There was no consultation whatsoever with relevant stakeholders, whatever transpired was within the walls of Aso Villa. This further goes to show that this government has to prove that it is indeed democratic. Another disturbing trend is the way decisions are made without following due process. The Petroleum Products Pricing Regulatory Agency (PPPRA) is the body charged with the responsibility of fixing the price of fuel. At the moment the Board has not been duly constituted. It

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a living a situation that has further heated up the policy. It sounds illogical that while those who mismanaged the economy continue to take decisions that affect the people, they expect the less privileged to continue to bear the brunt of their maladministration. The way we have gone so far in pricing Petroleum Products indicates that there will be demonstrations as

President Buhari must find another way of reviving the economy

therefore means that the idea of a new price regime coming from the minister of State for Petroleum, Ibe Kachikwu, cannot hold in law. The import is that President Buhari who is also the substantive Petroleum minister should not be seen as working against the law which he swore to protect. It is so sad that oil which other nations have used to improve the lot of their citizens has become a curse to the common man in our country. Grandiose wealth accruing therefrom has been commandeered by a few leaving the the majority to scavenge for

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planned by Labour, some unfortunate folks will die in the process, many poor Nigerians will suffer hunger and

ailment and government may shift ground a little. It will not take back the price to 86.50 Naira per litre. From Six Kobo to 8.45 Kobo in 1973 all previous regimes tried their best possible to keep the price going up. By the time Gen. Olusegun Obasanjo left as military leader in 1979, one litre sold at 15.3K. President Shehu Shagari increased to 20 Kobo in 1982, General Ibrahim Babangida moved from 39.5 Kobo in 1986 to 70 Kobo in 1991. The worst came on November 8 ,1993 when the price became five Naira per litre, an increase of 614

percent. Generals Sani Abacha, Abdulsalami Abubakar, Presidents Obasanjo, Umaru Musa Yar’Adua and Goodluck Jonathan did not give the citizens a breather. Jonathan became notorious in the eyes of the opposition when he gave compatriots a bitter New Year pill in 2012 increasing the pump price from 65. Naira to between 138 to 250 Naira. Those in government today organised rallies and sponsored talk shows to pillory that administration. Unfortunately, they have followed the same path of punishing the people through another deplorable price hike. We condemn this recent price hike especially since the masses have been receiving doses of unemployment, hunger and other forms of degradation. The weather beaten story of using the money from the increase to better the lot of the downtrodden is balderdash. This government must carry the people along. President Buhari must find another way of reviving the economy. Those who should suffer are going to smile to the banks while those who have been suffering for previous misdeeds are are condemned to face more hardship. Mr. President must think more about the people than he dances to the tunes of his phantom economic advisers.

POLITICS

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

With Abubakar, a new Bauchi beckons Muhammad Bello

or the people of Bauchi State, voting for the All Progressives Congress (APC) guber natorial candidate in the April 2015 election was predicated on a conscious decision by the electorate to open a new lease of life for the state. For many, the decision to vote for the APC was not misplaced as the Mohammed Abdullahi Abubakar-led administration has continued to fulfill the promises it made during electioneering campaign across the state. For Governor Abubakar, the wind of change that is blowing across every facet of the state is to enable the people see the difference between the 16 years of lackluster gover nance of the Peoples Democratic Party (PDP) and the proactive mien of the present administration. Governor Abubakar believes that his ascension to the state’s number one position was made possible by the masses of the state who thought that it was time to move Bauchi forward through desirable change that trickles down to the people. The governor’s vision is aimed at political and social reengineering of the state back to its pride of place in Nigeria. Since assumption of office, Governor Abubakar has swung into action by first defining the road map to achieving the new Bauchi. The agenda includes a reformed and reinvigorated civil service that delivers service to the people. The current multi-pronged approach in reforming the civil service is expected to culminate into a robust civil service that would meet the people’s expectations. It is also intended to strengthen the capacity, skills and capabilities of workers. The administration’s resolve to embark on a massive restructuring of political apparatus in the state is to ensure that all political office holders in the state see their positions as public trust, and an opportunity to render service to the people of the state. This new awareness will create the needed mind-set to chart a new course in elevating public service that works for the people. Expectedly this new orientation has brought about the much needed team spirit that will galvanise service delivery in the state. The top to bottom demonstrable leadership model of Governor Abubakar is beginning to impact on all cadres of leadership including commissioners, permanent secretaries, directors, and across the state civil service and the local government service commission. For us in Bauchi, it is a new dawn aimed at achieving world class service delivery, managing for results and a better Bauchi for all. The governor’s leadership principle essentially “managing for results” created an enabling environment which has made government more respon-

L-R: Emir of Dass, Alhaji Usman Bilyaminu; Governor Abubakar and Acting Rector, Abubakar Tatari Ali Polytechnic, Mallam Suleiman Lame, during the commissioning of a project at the school, recently.

sive to the aspiration of the people. It is a leadership that frowns at flamboyant lifestyles and wasteful spending of public funds. In the last 12 months of being on saddle of leadership in the state, he remained focused on his administration’s set objectives. In line with his agenda of managing for results, the governor decided to cut down cost of governance by reducing the number of political appointees to essentially those needed to deliver efficient service to the people. This has helped to save funds for investments in public infrastructure, education, health, water and sanitation, agriculture and other social sectors. Among the milestone so far achieved by the governor is the payment of workers salary, which other states across the country still find it difficult to manage. Bauchi has set template for ensuring prompt payment of workers salary. Governor Abubakar believes that prompt payment of salaries to workers is crucial to performance and remains consistent in delivering this promise. It is no longer news that under Governor Abubakar’s watch, three months arrears of salaries inherited from the immediate past administration were settled in what many public administration experts described unprecedented. For the governor, the decision to ensure regular payment of workers’ salaries is predicated on the principle that a well-motivated work force will put in its best in delivering efficient service to the people. In furtherance of his campaign promise to uphold public trust at all times, the governor in his inaugural address at the Tafawa Balewa Stadium Bauchi, on May 29, 2015, unveiled

A new era which began on May 29, 2015 will lead to emergence of a new Bauchi that delivers the goods for the people

his administration’s strategy for nurturing a corruption free public service in Bauchi. The intention was to set a benchmark for assessing public officers and their fidelity to public trust. For the governor, public office is a trust which is given by the people and must be guarded with high level of integrity and transparency. He admonished civil servants in the state public service to abhor corruption and turn a new leaf. Following up to the strategy, he announced decision by the state government to set up a commission of inquiry to review the activities of the immediate past administration of Governor Isa Yuguda. The committee which was headed by Alhaji Salihu Lukman undertook a forensic audit of all contracts, expenditure and appointments by the Yuguda administration from May 2007 to May 2015. Governor Abubakar disclosed that his administration noticed that corruption was eaten deep into the fabric of state’s socio-economic and political life, hence his resolve to sanitise the state. He also appointed a committee for the recovery of all government properties illegally carted away by former state public officials. Through the work of the committee chaired by Air Commodore Ahmed Tijjani (rtd), assets worth millions of naira has been recovered, while it work is still on-going. Other items recovered include monies worth millions of naira, lands and other properties. At the last count, the committee has recovered over 70 vehicles, generating sets valued at N600 million, and several air conditioners , For Governor Abubakar, the exercise is to instill discipline, transparency and accountability in the handling of public trust and

government property. Another area of focus by the governor is the security sector, in view of its importance as an enabler in promoting political, economic and social development. The administration places premium on security of lives and property of the citizenry. The state government is working in collaboration with the Federal Government and the security agencies have continued to keep insurgency at bay in the state. The administration identified with President Muhammadu Buhari’s undying commitment to defeat Boko Haram in the North-East region. In partnering with the Federal Government, the governor has been engaging the people of the state on the need to stamp out insurgency, uphold peace across the communities, while urging traditional leaders and public officers across the country to promote national unity. For the state, a new era which began on May 29, 2015 will lead to emergence of a new Bauchi that delivers the goods for the people. The citizenry as the centre of governance will no doubt be better served given the framework being put in place by Governor Abubakar’s administration. Wholly taken, it is not difficult to see that the current administration is on a mission to restore the state to its pride of place in the North-East region and the nation in general. The governor is focused and has kept faith with the people through the numerous innovations he has brought to bear in the governance of the state. With his eyes on the ball, and the support of all Bauchi stakeholders, making of a new Bauchi is a done deal. •Bello writes from Bauchi

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Tolerance

Inside Abuja

Religious harmony in Lugbe

News Strike: Consultants, corpers takeover services at National Hospital

18 22

The UN building in Abuja after the terrorists' attack

Waiting for the N5.1bn UN building YEKEEN NURUDEEN writes on the plans of the Federal Government to complete the reconstruction of the United Nations Building attacked by Boko Haram terrorists in Abuja

n August 26, it will be exactly five years after a suicide bomber drove a car laced with bombs into the United Nations Building in Abuja, killing at least

Onwuka NzeshI

ABUJA BUREAU CHIEF nzeshi@newtelegraphonline.com

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21 persons and wounding over 60 others. The deadly terrorist group, Boko Haram which was just making inroads into Nigeria's seat of power at that time claimed responsibility for the attack. The time was about 11a.m. when the terrorist drove his bomb-laden car through two security barriers and hit the UN Building located in the Diplomatic Zone, Central Business District of Abuja. The car bomb which was detonated at the reception lounge of the building, caused enormous devastation to the building's lower floors. The building housed over 400 employees of the UN but it was not clear how many were inside the building at the time of the attack. A wing of the building collapsed and the ground floor of the building was badly damaged. Jonathan's promise In the wake of the attack, the Federal Government promised to rehabilitate the damaged building but serious work did not commence until May 2013 almost two years after the incident. Specifically, former President Goodluck Jonathan assured the world body that Nigerian Government would do all it could to repair the building.

After the attack, the Federal Governmenthas been providing the world body and its different departments with office accommodation in Abuja

Two structural integrity tests to evaluate the extent of damage to the building were carried out after which the Federal Government awarded the contract for the re-building and rehabilitation of the structure to Julius Berger Nigeria Plc. at the cost of N5.1 billion. After the attack, the Federal Government has been providing the world body and its different departments with office accommodation in Abuja. This was as the Federal Capital Development Authority (FCDA) budgeted N2.736 billion for the contract and rental costs for new office space for the displaced staff that year. The UN by reason of its global mandate is providing development assistance to the Federal Government in accordance to the United Nations Development Assistance Framework (UNDAF). The project, scheduled to be completed in 16 months, according to senior officials of FCDA, the supervisory organ for the project, government would afford the federal authorities the opportunity to redeem the pledge made by Jonathan, when the building was attacked. The delay In a bid to rebuild the structure, a UN House Rehabilita-

tion Committee representing the interests of the UN Country Office was established, and it was learnt that the work scope must be such that the rehabilitation process must exceed the UN minimum operating security standards with the United Nations Department of Safety and Security (UNDSS), providing technical lead in the design and specifications of security in the project. There will also be effective security improvements and infrastructure such as blast mitigation and access control measures. The rehabilitation will also look into the problem of space requirement â&#x20AC;&#x201C; prior to the bomb blast, inadequate accommodation to house the growing number of UN staff had been a challenge. The redevelopment design must take this into consideration and also make the building more amenable to the needs of the disabled. Vertical or horizontal extension within the UN compound and within available resources would therefore be a priority. Again, the rehabilitation of the UN House is expected to take into consideration effective access for people with disabilities as well as for the generality of CONTINUED ON PAGE 22

Inside ABUJA | SLUMS

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Religious harmony in Lugbe Caleb Onwe ABUJA

hen Karl Marx opined that “religion is the opium of the society”, he must have been revealing the innate inclination of learned minds to use certain natural phenomenon to the disadvantage of the unlearned minds. His rhetoric was not only revelatory, but an indisputable graphic representation of a gory picture of what African and particularly Nigerian leaders have made of a natural human quest for a beneficial affinity with the unseen creator of the universe. People have so wittingly used religion to score selfish and parochial points and the end to this manipulation of both human psychology and emotions appear not to be in sight. This is even as political predators have continued to use religion to cause divisions in the society. However, Lugbe Community, one of the satellite towns in Abuja Municipal Area Council, is an example of what God intended religious co-existence to be. Since God did not create any religion, but granted humanity the power of choice regarding religion without any iota of molestation; he also expects that humanity should not use religion as an element of chaos on earth. This rustic settlement which accommodates all ethnic groups in Nigeria, though an enclave of the Abuja aborigines that can be likened to the proverbial ‘cat with nine lives’, have survived series of demolition that swept through the Federal Capital Territory. In one part of the community, a first time visitor will find ECWA Church cohabiting in the same compound with a Mosque; to strangers in the area, with a quick sense of judgement may describe it as “marriage of strange bedfellows” but to others, perhaps residents of the community who can attest that both opposite religions have shared the same neighbourhood for years without any rancour, it is a typical example of what religious harmony ought to be. Rev. Obadiah Shandu, the resident pastor of the church, told Inside Abuja that he may not be abreast with robust history of the area since he was transferred to the church newly, he however confessed that there has never been any infraction between the two faiths on account of their closeness. He stated that presently the church is using the hall as their children church, having built a bigger auditorium outside the environment. He added that there is no record of religious clash even before he became a pastor there. With the curiosity to know more about surprising co-existence of the two worship centres, Inside Abuja proceeded to the residence cum palace of the District Head directly opposite the church and the mosque. The District Head of Lugbe, Mr. Salihu Jiwobi Gode gave a

The Mosque and Church side by side in the same compound.

brief history of this astonishing relationship between the two faiths within his domain. He said that Christianity started making a sweeping impact in Lugbe as early as 1902. He, however, admitted that before the adventure of Christianity in Lugbe, his people were predominantly idol worshipers. “Lugbe village has been existing since our forefathers and they were all into paganism, due to the idea of Christianity which came according to history in 1902, Lugbe village has been in existence since 1800. When Christianity came there was no problem with paganism; Christians were worshiping their God while the pagans were also worshiping their idol. The church was built to provide Christians a place to worship since their way of worship was not the same with pagans way of worship,” he said. He said that ECWA Church was one of the first denominations which his people embraced and have continued to maintain a dominant attendance in it for many decades now. Gode told New Telegraph that his people believe that all religions, be it Christianity, Islam or traditional worshipers are a means of knowing God, and that everybody has the freedom to choose which to follow. According to him, it was this religious freedom which his people preach that led the late Chief Yahaya Ibrahim, former Esu of Lugbe and a native of Gbaygi, who was also a renowned deacon in the ECWA Church to convert to Islam later in his lifetime. The late Esu of Lugbe who before the alleged conversion to Islam was known as Mr. Philip Ibrahim, but after his conversion and subsequent religious rituals became Alhaji Yahaya Ibrahim. The district head further told Inside Abuja that it was in 1985 when Alhaji Yahaya Ibrahim ascended the throne as the Esu; and being the chief and a Moslem he needed a place of worship that is close to his house, hence the de-

Gode

Hs people believe that all religions, be it Christianity, Islam or traditional worshipers are a means of knowing God

cision to build the mosque very close to the church which was already in existence in front of his house. “Alhaji Yahaya Ibrahim, the former chief and a Gbaygi man who left Christians and joined Islam, decided that since both Christians and Moslems serve the same God, let the mosque be built close to the church,” Gode said. When asked the secret behind the harmonious co-existence between the two faiths in his domain, the district head said that they do everything moderately and also considers the interests of others. He continued: “We do not allow the Christians to beat their musical instruments in the way it will offend the Moslems, especially during their prayer time. Likewise the Moslems, we ensure that the horn speakers of the mosque are not allowed to disturb the church.” Another measure which the community adopted, believed to have contributed to sustaining the relative peace and religious harmony is the self-regulatory mechanism of both faiths. The district head said that it is not

permissible for the Moslems to fix any programme that will clash with that of the Christians. A teenage member of the church, a native of Gbaygi who simply identified himself as Ezekiel told New Telegraph that he was born and brought up in the same ECWA church. He said that as far as he knows, there has never been any problem between Moslems and Christians in the area. Another resident, a young man in his late 20s who declined to mention his name for record purposes but claimed to be a family member of the late chief, said that their father converted to Islam and not due to financial inducement as it was widely believed by their Gbaygi kinsmen. He said that he like many others in their family have decided to keep their late father’s legacy alive by embracing Islam. On whether the church is having any clashes with the Moslems in the area, he said that clashes are not necessary since the community dominantly Gbaygi people believe in religious freedom. A resident of the community and an operator of a supermarket, who pleaded anonymity, confided to Inside Abuja that for the past three years he has lived in that community, both the church and the mosque have existed side by side without any breach of the peace. He also informed us that he too was astonished seeing the two religions sharing the same compound when he came into the community newly. He said that the relationship was a rare one, considering the animosity and rivalry usually exhibited by adherents of these religions in some of Nigerian communities. The fact that the mosque was built by a Gbaygi Islamic convert may have substantially contributed to the peaceful co-existence of the two faiths in the community, but the moral lesson remains that differences in religious inclination should not be allowed to create social imbroglio.

Inside ABUJA

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Fuel queue at Conoil Filling Station in Abuja.

Chukwu David and Isa Abdulwahab ABUJA

igerians are still groaning in long and static queues at the filling stations within the nation's Federal Capital Territory (FCT), Abuja and its environs. This is in spite of the announcement last Wednesday by the Federal Government that it had removed subsidy on fuel and increased the pump price of petrol from N85 to N145 per litre. It was the expectations of Nigerians that the hike in the price of the product would automatically eliminate queues from the filling stations, as they thought that marketers would be eager and willing to sell their stock without hoarding as before. However, our correspondents, who visited some filling stations in the FCT and some suburbs, such as Nyanya and Mararaba satellite towns, observed that queues got worse since the pronouncement on the new policy on fuel last week. Inquiries made by our correspondents indicated that most of the marketers did not have enough fund to import fuel because of the condition of the Naira in the forex market. Consequently, many filling stations did not have petrol to sell to their customers desiring to buy the product while stations that have fuel were choked by the crowd of buyers. Motorists in some of the stations told Inside Abuja that they were highly disappointed that they had to wait for long hours in the queues, even when the product was sold at such exorbitant price. Segun Bakare, a taxi driver who had waited for three and half hours at the Oando filling station, Mararaba, without getting fuel as at the time of speaking with one of our correspondents, expressed disappointment, lamenting that the masses were suffering unnecessarily. "We thought that by increasing the price of petrol so outrageously, the queue would immediately disappear from the filling stations. But you can see that the situation is even worse now. We don't know where this government is leading us, honestly! This government appears to be confused.

Fuel subsidy: Queues persist in Abuja "The increment is very insensitive and inhuman; what do they want Nigerians to do; do they want everybody to start stealing? Why are they doing things without considering the welfare of the people who voted them into power?" Bakare, who was visibly angry, queried. Also, another motorist, Mr. Shuibu Isa, queuing at the A.A Rano Filling Station in Asokoro District, said: "This is the clearest proof that this government has failed. I respect President Muhammadu Buhari; I even voted for him during the presidential election last year. But I can see that the Buhari that is ruling Nigeria now is different from the one that ruled Nigeria in the 1980s. "I have seen that age is a major factor in governance. When he was younger and stronger, nobody could toss him up and down but now, there are many hawks around him, who are ill-advising him for their selfish interests and he is agreeing with them," he lamented. Others, who also spoke on the lingering queues at the stations, argued that there was no point increasing the pump price of fuel and at the

Oando Filling Station, Mararaba

The pump price of petrol from N86 to N145 per litre will definitely worsen the living condition of the average Nigerian

same time having long queues. A Professor of Economics at the Nnamdi Azikwe University, Uche Collins Nwogwufu, told Inside Abuja that the short term ripple effect of scrapping fuel subsidy by the Federal Government will be colossal on Nigerians. Nwogwufu said the increase in the pump price of petrol from N86 to N145 per litre will definitely worsen the living condition of the average Nigerian already suffocating in extreme poverty. He, however, expressed hope that on the long run, the pain of the fuel subsidy removal will ease off. A development economist, Odilim Enwegbara hailed the removal of the subsidy on fuel, saying that Nigeria has got to the point where it has no option but to be realistic. "Rich men and women who have stolen this country blind are enjoying at the expense of poor masses. The government was subsiding the fuel for rich people. If we allow the market to determine the price, both local and international investors that have held back their investment in refineries because the pump price is not right will now come in and in

the long run, the pump price will come down due to competition," said Enwagbara . A civil society organisation, Vanguard for Transparent Leadership and Democracy (VATLAD), has thrown its weight behind the removal of subsidy, saying that the full deregulation of the downstream sector of the petroleum industry was long overdue. National President of VATLAD, Emmanuel Igbini, lamented that pervious administrations in Nigeria were unable to remove the subsidy because they did not have enough courage. According to him, there can be no other better time for the Federal Government to take this decisive decision than now as this will cause a chain of reactions in other sectors and help Nigerians to demand more accountability and transparency in the management of the nation's resources. Igbini, however, demanded that while this policy remained, agencies that are directly or indirectly involved with the regulation, fixing or influencing prices of petroleum products such as the Petroleum Product Pricing Regulatory Agency( PPPRA), Department of Petroleum Resources (DPR) and Petroleum Equalisation Fund (PEF) should immediately be scraped and allow market forces of demand and supply determine the prices petroleum products at all times. "While this is ongoing, the Federal Government should immediately deploy her anti-graft agencies into the oil sector (upstream and downstream) to identify and bring to justice, those unpatriotic citizens and their collaborators who have destroyed our nation and continue to cause the worst form of economic crime and sabotage against our nation and her citizens. â&#x20AC;&#x153;The Federal Government must realise that this is a very sensitive issue that affects the generality of the masses of our country which has caused the downfall of governments across the globe," Igbini said.

INSIDE ABUJA

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Fuel subsidy debate

Tinubu: Subsidy creates economic predators Former governor of Lagos State and National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, justifies the removal of fuel subsidy

he president's decision to reallocate funds once earmarked for the fuel subsidy and commit those funds to other more socially productive services and undertakings was a difficult decision. It was also a necessary one. Politically, it would have been easy for the president to sit back and let the subsidy remain in place, yet in the art of governance, the easiest policy is rarely the best one. As originally envisioned, the subsidy formed a basic part of the social contract between the people and their government. It was a benefit all were to enjoy. Yet, because past governments were not for and of the people, the true meaning and objective of the subsidy policy became lost. Over the years, the operation of the measure was distorted to where it no longer functioned for the benefit of the masses but for the undue enrichment of a small club of businessmen, some legitimate in their work, some not. Instead of remaining a positive aspect of the social contract, the subsidy was transformed into an opaque haven of intrigue and malfeasance. It was turned into a shadowy process from which the unscrupulous extracted large sums of money without provid-

ing the services and products duly paid for. Fake businessmen became true billionaires over night as if by supernatural force. They paraded themselves as such. Meanwhile, the rest of the nation, the innocent people were left to face erratic supply and were made to groan in the misery of long fuel queues and the high costs and loss of time attendant to this situation. To allow this unfairness to continue would have been a breach of the promise made by this government to the people. While we all have an emotional and sympathetic attachment to the ideals upon which the subsidy was founded. We all must recognise that the institution was hijacked years ago. Instead of a bonus to the masses, it became a factory of corruption enrichment. So imbued with trickery deceit and theft, it stopped serving the interests of the people. It became a weapon of profiteering. The machinery of the subsidy had become so polluted that it was no longer feasible to talk about reforming it. Either it had to cease or we would have to surrender to the corruption now inherent in it. This administration entered office with a mandate of CHANGE. The government could not forever sit back and allow this dire inequity to continue less it forfeit the essence of its mandate. We all want fuel at a cheaper price. Under the subsidy, we got the right price but not the fuel. Meanwhile, some were getting rich on the common man's predicament. They were laughing to the bank while the rest of Nigeria wanted in the petrol line. This is not the way to democratic development. It is a recipe for creating a class of economic predators that would feed off the people and in time gain such power and wealth that they would seek to buy and con-

Tinubu

Buhari has, with this decision, put an abrupt and just end to this assault against our economy and political system

trol if not own government as well. President Muhammadu Buhari has with this decision put an abrupt and just end to this assault against our economy and political system. He has made a courageous and prudent decision. It is time to end the fuel subsidy and to begin to subsidise the true needs of the people. To Mr. President, I say congratulations for having the courage to remove the subsidy. The president has taken this tough decision in the interest of the present and future generations of Nigerians. For some time, I have been a proponent of this action. I believed ending of subsidy was the only sure way to put to sleep the myriad demons that had invaded the subsidy process, sucking the blood of Nigeria, swallowing much of our needed money. The rentiers will no longer be able to make free money at our common expense. They will no longer be laughing to the bank while you lan-

guish in endless fuel queues. Nigeria has taken the historic step needed to create a competitive environment that that will eliminate smuggling, provide incentives for private refineries and attract foreign investments in the downstream sector and create employment. Instead of just shipping off the oil and having the more expensive finished products sent back to us, Nigeria will move closer to realising its potential to become the plastic centre of the continent by manufacturing these by-products. Nothing can stop Nigeria from being the net exporter of fertilizer from the byproducts of the oil industry. I am hopeful but also realistic about this measure. I am also mindful of the situation of our people. This change will mean higher fuel costs in generally. I would be lying if I said this will cause no pain or dislocation. However, it will rational supply and end the hidden buy substantial costs associated with long waits and delays for fuel. The days and hours of waiting for fuel will be a thing of the past. In a perfect setting, I wish we could have sanitised the subsidy regime and thus continue it. However, I believe that President Buhari correctly understood that there were too many malefactors and flaws in system for that hell to be turned into heaven. Better that we remove it. But I believe he is removing it not for the austere purpose of saving money but for the nobler purpose of putting those same funds to fairer, more equitable use in order that government might better serve those of us who are truly in utmost need. Now that the subsidy is being phased out, we should simultaneously phase in social programmes benefiting the poorest, most vulnerable among us.

Adeyeye: Termination of oil subsidy courageous Sola Adeyeye, a professor, is the Chief Whip of the Senate

conomic realities do not change solely because of wishful thinking however ardent these wishes may be. Current realities dictate that Nigeria can no longer sustain pandering to the gallery of cheap populism. Elsewhere, a prominent member of the 8th National Assembly has countermanded the termination of subsidy by citing the subsidy that farmers enjoy in the USA. However, he completely missed the very significant difference in the purpose and mechanism of American subsidy to farmers versus the purpose and mechanism of so-called oil subsidy in Nigeria. For example, subsidising dairy farmers in the USA is not done to keep prices low; rather it is to prevent the prize of dairy products from falling too low! Such a fall would make farming unprofitable with farmers consequently choosing to abandon their farms. Hence, the US Government either pays farmers to produce less or buys excess agricultural products so as to decrease available supplies and thus increase price! Second, the US subsidy targets local agricultural production rather than subsidising the price of imported foreign products. With regard to petrol price, an analogous subsidy in Nigeria would be to subsidise

Adeyeye

the cost of resuscitating our local refineries rather than giving free money to those claiming to be importing petrol. Yes, if we must, let us give tax breaks to Dangote and other investors who are willing to build new refineries. We are all witnesses to the decline of telephone costs after that sector was privatised and somewhat liberalised. Nigeria has huge crude reserves but crude oil is useless until it is extracted and refined! The USSR had extremely huge oil and gas reserve but lacked the technology to extract it! Consequently, the Soviet

Union suffered energy crisis during the Cold War because the USA and NATO prevented Western Technology from being used to extract Soviet crude! Any lasting solution to petrol prize in Nigeria should focus on replacing our decrepit and obsolete local refineries. Lastly, subsidy in Nigeria has always been about abracadabra! It is money for the Mafia who ensures that our refineries remain comatose so that their importation business might flourish. We in the defunct Action Congress of Nigeria (ACN) played bad politics on this matter when President Goodluck Jonathan first attempted to remove subsidy. We had robust in-house debate but eventually capitulated to the god of electoral politicking. Now the chicken has come to roost for all of us. I have read a litany of the price of petrol in many oil producing countries. These and other pungent facts should make us sad. Even so, these are far from being all the pertinent facts! How many of the countries cited import refined products like Nigeria does? What are the external reserves of these countries per capita? What is the per capita external reserve of Nigeria? These are pertinent questions because we do not pay for imported petrol with naira; we pay in dollar. Flaunting data and statistics that compare Gulf countries with Nigeria is outrightly disingenuous. There are more people in Oyo State than in Norway. Yet, Norway annually produces double the petroleum of the

entirety of Nigeria. A similar comparison with any of the Gulf States yields a sobering different perspective of our predicament. In particular, President Muhammadu Buhari took over the country and met a looted and empty treasury. Two of the four refineries of Nigeria operate at about 40 per cent capacity while the other two have zero capacity. All four have obsolete infrastructure that means they cannot be upgraded. We need new refineries but new ones take time to build. What abracadabra can Buhari perform within the circumference of these stark realities? The pump price of petrol in the developed economies includes substantial taxes and business costs. In the UK, taxes account for 61 per cent of the price paid at fuel pumps. For Nigeria, refined petrol should be sold at whatever price it costs to import it plus marginal taxes and margin of profit. Until our refineries begin to work well, we must stop the fantasy of easy solutions on the matter of petrol price in Nigeria! OPEC quota dictates volume and price of crude oil to be sold by member countries but gives total freedom on the production and price for internal consumption. If we refine all that we need within Nigeria, not one penny of the revenues earned from the sale of crude oil will be used to import petrol! As such, this is our permanent and indispensable solution. Indeed, Nigeria's goal should be to sell crude to the rest of the world but sell refined petrol to all ECOWAS countries that do not produce oil.

INSIDE ABUJA

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Fuel subsidy debate

Falana: Increase in pump price illegal, contemptuous Femi Falana is a Senior Advocate of Nigeria (SAN)

uring the campaign last year, the candidate of the All Progressives Congress (APC), General Muhammadu Buhari pledged that if elected as president by the Nigerian people his administration would not remove fuel subsidy. Since he won the election last year President Buhari has consistently resisted pressures from the neo-liberal characters in the government to remove fuel subsidy and increase the price of petrol. On January 18, the Federal Government allayed the fear of Nigerians when the price of petrol was reduced to N86.50k per litre. In justifying the decision to the people, the Federal Government claimed that the reduction was due to an implementation of the revised component of the Petroleum Products Pricing Template for PMS and household kerosene. It would be recalled that following the popular agitation against the removal of fuel subsidy in 2012, the Ministry of Petroleum Resources had announced the decision of the Goodluck Jonathan administration to set up 30 green field refineries in the country. Shortly thereafter, the policy was jettisoned due to pressure from the cabal of local fuel importers. In 2013, the Jonathan administration secured a loan of $1.6 billion for the maintenance of the country’s four refineries. At the end of the repairs the refineries could only refine about 80,000 barrels of crude oil per day instead of 445,000 barrels earmarked for domestic consumption. The Buhari administration has also spent millions of dollars for the so-called turn around maintenance of the refineries. Barely a month ago, Dr. Ibe Kachikwu had announced that fuel subsidy had been removed through his ingenuity. In celebrating the “success” recorded by him in the manage-

Falana

ment of the petroleum industry he disclosed that Nigeria was saving $1 billion in subsidy removal and $1 billion in fuel importation. He also stated that “for the first time, our refineries are ready to work now. Crude has been pumped from Brass to Port Harcourt. Pipeline is being used for the first time in 10 years for the first time in six years. For the first time we are able to pump to Ilorin, we have not done that in 10 years.” Curiously, Dr. Kachikwu’s “giant strides” in the petroleum industry appear to have collapsed completely before our very eyes! Hence, without any public debate or consultation with relevant stakeholders whatsoever, the Federal Government took the Nigerian people by surprise last Wednesday when it decided to increase the pump price of petrol from N86.50k to N145 per litre. Not too long ago, the Federal Government had supported the imposition of higher tariffs paid on epileptic supply of electricity by consumers. In sentencing the Nigerian people to excruciating economic agony the Ministry of Power defied a court order which had restrained the government from giving effect to the proposed electricity tariff. In the same

The Federal Government took the Nigerian people by surprise last Wednesday

vein, the decision to increase the price of petrol is also illegal and contemptuous. In the case of Bamidele Aturu versus Attorney-General of the Federation (unreported suit No. FHC/ABJ/CS/591/2009) the Federal High Court declared illegal and unconstitutional the policy decision of the federal government to deregulate the downstream sector of the petroleum industry contrary to the combined effect of the provisions of the Price Control Act and the Petroleum Act. In total defiance of the said order of the federal high court, the federal government has deregulated the downstream sector of the petroleum industry. In justifying the illegal policy, Dr. Kachikwu claimed that “PPPRA has informed me that it will be announcing a new price band effective today, 11th May, 2016 and that the new price for PMS will not be above N145 per litre.” Since the Petroleum Products Pricing Regulatory Agency (PPPRA) which is statutorily empowered to recommend the price of petroleum products has not been reconstituted the unilateral decision of the Executive Secretary of the body to fix the pump price at N145 per litre is ultra vires and illegal in every material particular. In view of the illegality, insensitivity and immorality of the price increase the federal government should cancel it, revert to the status quo and consult widely with all relevant stakeholders in the society. However, due to the ongoing fuel crisis in the country, the Department of Petroleum Resources (DPR) recently invited fresh bids for the setting up modular refineries. At the end of the screening exercise sometime in March this year, the DPR announced that it had awarded 22 licences for modular refineries with combined capacities to refine 1.429 million barrels of crude oil per day. If the policy is genuinely pursued the construction of the refineries ought to be completed within the 9-12 months. If such refineries are established in the country the importation of fuel and the fraud

associated with it will stop. In the interim, instead of importing oil from Europe and the United States the NNPC should refine crude oil for domestic consumption in neighbouring countries which have functional refineries. After all, Nigeria refines 60,000 barrels of crude oil per day in Cote d’ivoire which is not an oil producing nation. If subsidy had been removed over a month ago and the country has been saving $2 billion (from fuel importation and subsidy removal) while the refineries are now working at full capacity, Kachikwu should tell Nigerians the justification for the new removal of fuel subsidy announced by him. The cost elements that make up the N145 are provocative. If the total landing cost of a litre and other charges are fixed at N138 what is the basis of fixing the price at N145? For goodness sake, why should motorists be made to pay NPA/NIMASA charges, demurrage within and without /storage/ bridging charges etc? At this stage, President Buhari ought to prevent neo-liberal ideologues from hijacking the administration for the purpose of punishing the Nigerian people for the looting of the treasury and mismanagement of the national economy. Contrary to the position of the parasitic ruling class that prices of goods and services be fixed by market forces the federal government has a legal obligation to protect the people from exploitation. For instance, the virtual collapse of electricity supply has forced many corporate bodies and individuals to invest heavily in generators and diesel throughout the country. Although the price of diesel has crashed all over the world it has continued to increase in Nigeria due to manipulation. The federal government should, as a matter of urgency, abolish the monopoly in the importation and sale of diesel. There is no justification for the monopolistic control of goods and services under a free market economy!

Osinbajo: Forex shortage responsible for new pricing regime Vice-President Yemi Osinbajo explains the position of the Federal Government on subsidy on fuel pricing debate

have read the various observations about the fuel pricing regime and the attendant issues generated. All certainly have strong points. The most important issue of course is how to shield the poor from the worst effects of the policy. I will hopefully address that in another note. Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn't much of a subsidy to remove. In any event, the president is probably one of the most convinced pro-subsidy advocates. What happened is as follows: our local consumption of fuel is almost entirely imported. The Nigerian National Petroleum Corporation (NNPC) exchanges

crude from its joint venture share to provide about 50 per cent of local fuel consumption. The remaining 50 per cent is imported by major and independent marketers. These marketers up until three months ago sourced their foreign exchange from the Central Bank of Nigeria (CBN) at the official rate. However, since late last year, independent marketers have brought in little or no fuel because they have been unable to get foreign exchange from the CBN. The CBN simply did not have enough. In April, oil earnings dipped to $550 million. The amount required for fuel importation alone is about $225 million! Meanwhile, NNPC tried to cover the 50 per cent shortfall by dedicating more export crude for domestic consumption. Besides the short term depletion of the Federation Account, which is where the Federal Government and states are paid from, and further cash-call debts pilling up, NNPC also lacked the capacity to distribute 100 per cent of local consumption around the country. Previously, they were respon-

Osinbajo

sible for only about 50 per cent. Partly the reason for the lingering scarcity. We realised that we were left with only one option. This was to allow in-

dependent marketers and any Nigerian entity to source their own foreign exchange and import fuel. We expect that foreign exchange will be sourced at an average of about N285 to the dollar (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre. We expect that with competition, more private refineries, and NNPC refineries working at full capacity, prices will drop considerably. Our target is that by Q4 2018 we should be producing 70 per cent of our fuel needs locally. At the moment even if all the refineries are working optimally they will produce just about 40 per cent of our domestic fuel needs. You will notice that I have not mentioned other details of the PPRA cost template. I wanted to focus on the cost component largely responsible for the substantial rise, namely foreign exchange. This is therefore not a subsidy removal issue but a foreign exchange problem, in the face of dwindling earnings. Thank you all.

Inside ABUJA

Obinna Odoh Abuja

ollowing a fiveday war ning strike embarked upon by the National Association of Residence Doctors (NARD), medical consultants and newly graduated medical doctors undergoing the one year National Youth Service Corps (NYSC) programme have taken over the healthcare delivery system at the National Hospital, Abuja. When Inside Abuja visited the hospital to ascertain the impact of the strike, it was discovered that the emergency ward was still open and functional as some doctors were seen attending to patients. There were also activities at the other wards except that the traffic of patients was low. It was, however, gathered that if the strike continued longer than now, it will affect the number of patients being admitted in the hospital. Assistant Director and Head of Information and Protocol Management at the hospital, Dr. Tayo Haastrup, in an interview with New Telegraph, assured the general public that the strike embarked by the union has not adversely affected their services as medical personnel not under the union were still rendering services. Haastrup explained that the NARD embarked on the nationwide warning strike because the Federal Government was yet to meet their demands. "I want the general public to know that the National Hospital has categories of doctors working for us: the most

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Strike: Consultants, corpers takeover services at National Hospital senior one, we have consultants, those ones are not on strike, they are working. We also have the general one, we call them the house officers, they are also on ground working. We have corpers who are working in the hospital. In fact every other worker in the hospital is working. We have the laboratory workers, physiotherapists. I mean every other person in the hospital is working. "The impact that the resident doctors have on the patients cannot be overemphasised, because if they are on ground they will complement the work of the senior staff (the consultants) which means that the number of patients will be on the increase. It is the consultants that lead the resident doctors round the wards to see patients and also have power to discharge patients when certified healthy. "If the doctors embark on a full blown strike, the number of patients will drop by about 20 per cent. I mean if we were receiving 100 patients per day, it will reduce to 80 patients," he said. One of the students on admission at the emergency ward of the hospital, who gave his name as Emeka told our correspondent that he was referred to the National Hospital from Kaba, Kogi State. He confirmed that in spite of the strike, some doctors were still attending to the patients in the hospital.

C O N T I N U E D F R O M PA G E 1 7

the UN counterparts. However, the work did not progress at the expected pace and as such in October 2014, the UN Resident Representative in Nigeria, Dauda Tours, appealed to the Federal Government to complete the renovation of the UN House. Toure, who spoke at the UN Day Celebration that year, said that the UN workers and partners were looking forward to returning to “a conducive work environment.” He commended the Nigerian Government for its hospitality and offer to rebuild affected sections of the structure. Toure praised the courage, resilience and commitment of the UN staff in Nigeria to their jobs “after the bombing of the building which killed no fewer than 23 staff and partners.” “We will forever remember them and their families,” he said. In 2015, the then Permanent Secretary, Federal Capital Territory, Engr. John Chukwu, assured that the Federal Government was committed to

He disclosed that he was brought to the hospital in a critical condi-

tion and experienced a three hour delay before being attended to by

the medical personnel on duty. Emeka expressed sat-

isfaction with the services, affirming that he was already recuperating.

L-R: Former Niger State Governor, Dr. Babangida Aliyu; ex-Niger State Governor, Abdulkadir Kure and former Senate President, David Mark, at the PDP North Central Zonal Congress in Abuja …at the weekend.

Abuja Housing show targets 10 countries, 200 companies Caleb Onwe Abuja

pportunities in the housing sector have started attracting potential investors as 10 countries and over 200 real estate development firms have indicated interest in the 10th Abuja Housing Show billed to hold in July. The participating countries which includes Turkey, China, Neth-

erlands, United Kingdom, United States of America, Ghana, South Africa, Ireland, Kenya and Brazil are expected to explore the possibilities of encouraging investments in the emerging real estate market in Nigeria. The annual housing show organised by FESADEB Communications Limited, will this year be held under the theme: "Expanding Access to Affordable Housing in Af-

rica” and feature exhibitions and presentations from stakeholders in the housing sector. Chief Executive Officer of FESADEB Communications Limited, Festus Adebayo, who briefed journalists on the forthcoming show housing experts from Nigeria and overseas would be sharing experiences on the best models to reduce the housing deficit in Nigeria. Adebayo, who said his organisation has made

unwavering commitment to housing development over the years, said that Nigeria's potential in the real estate sector were enormous. He said that the Abuja Housing Show which was modelled after the American Builders Show has contributed immensely to housing development in Nigeria. The forthcoming show is being supported by a number of indigenous firms.

Waiting for N5.1bn UN Building

the completion of the renovation of the bombed United Nations Office in Abuja. Chukwu gave the assurance after laying of wreath in honour of the 23 victims that died in the incident. According to him, the government would do everything possible to avoid further delay in the completion of the project, challenging the contractor handling the project, Julius Berger Nigeria Plc., to work round the clock in order to complete the project in a record time. Hope rising But in about three months to the five years anniversary of the UN Building attack, hope seems to have risen for displaced workers to return to the ambience of the UN Building. The Federal Government said it had paid all outstanding bills to the contractor handling the rehabilitation of the building, just as the work is expected to be completed soon. Minister of the Federal Capital Ter-

ritory (FCT), Malam Muhammad Bello, made this disclosure at the official signing ceremony of the United Nations Development Assistance Framework Joint FCT/UN Annual Work Plan for 2016 in his office. Bello revealed that the contractor has gone back to site and is working steadily to achieve the set target. He noted that the components remaining would be the security infrastructure and the furnishing of the complex, which would be quickly handled. “Early this year, we made some payments to the contractors to be able to complete their own aspect of the job. The remaining aspect that has to do with the security infrastructure in the building, we held discussions and we created a team between the two organisations to identify where the challenges are and try to look at what can be funded as quickly as possible for you to be able to move into the office. “We have made arrangements for funding in this year’s financial estimate so that we will be able to get the

needed funds and work towards the deadline that we have all put for ourselves," he said. Bello, who expressed appreciation to the United Nations over its support for the FCT Administration as well as other states of the federation, promised that FCTA would jointly work with the UN to ensure that the interventions were expeditiously carried out for the common good of humanity. He assured that the FCT Administration would promptly release its counterpart funding in order to get all the interventions moving as envisaged. The United Nations Resident/Humanitarian Coordinator, Ms. Fatima Samoura, also appreciated the growing partnership between FCT and the United Nations family in Nigeria, which is manifested in many areas. The UN Coordinator conveyed the appreciation of the UN System in Nigeria for the continuous support and hospitality enjoyed from the FCT Administration.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Energy Subsidy: Another look at fuel price increase

Business What's new African carriers to lose $100m in 2016

Aviation African airlines in intensive ward

25 27

Rates Dashboard INFLATION RATE March 2016...............................12.8% February 2016............................11.4% January 2016..............................9.6%

LENDING RATE Interbank Rate....................12.57% Prime Lending Rate...........17.93% Maximum Lending Rate...26.83%

EXCHANGE RATE

(BDC as at May 13)

(Interbank as at May 13)

USD . . . . . . . . . . . . . . . . . . . . . . N345 Pounds . . . . . . . . . . . . . . . . . . . N468 Euro . . . . . . . . . . . . . . . . . . . . . . N365

l Foreign Reserves – $26.783bn as at 12/5/2016

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . N307 Euro . . . . . . . . . . . . . . . . . . . . . N224

Source: CBN

p.24

N22bn mall coming despite Nigeria’s economic slump p.24

President, Abuja Chamber of Commerce and Industry, Mr Tony Ejinkeonye (left), welcoming the Director, Foreign Department, Czech Chamber of Commerce, Mr Jiri Hansi, during the Czech Republic Trade Mission Business Delegation visit to Nigeria.

SABOTAGE Militancy truncates Nigeria’s hope of overtaking Angola as Africa’s biggest crude producer Adeola Yusuf

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

igeria’s total crude production woes worsened with output minus condensate output crumbling to about one million barrels daily. Reuters quoted Petromatrix oil analyst, Olivier Jakob, just as a new data of the Organisation Petroleum Exporting Countries (OPEC) showed that Nigeria’s hope for a quick recovery of its Africa’s biggest producer status from Angola had been dashed. The current production woes, which had sank Nigeria further behind Angola, was buoyed by last weekend’s declaration of force majeure by ExxonMobil on Que Iboe, Nigeria’s largest crude grade. The company told its refinerscustomers abroad that there was no guarantee that it would meet its contractual obligation with them on Nigeria’s largest crude grade. Output from Africa’s largest oil producer had fallen to 1.65 million barrels per day (bpd) due to militant attacks, Finance Minister, Kemi Adeosun, earlier said, from 2.2 million bpd. According to Reuters, Petromatrix oil analyst, Olivier Jakob, however, said that Nigerian oil production was unlikely to be much above one million bpd, excluding condensates. “We expected more supply disruptions out of Nigeria this week

Nigeria’s oil production falls to 1m barrels daily ExxonMobil’s force majeure cuts earnings but the pace of new supply problems from that country beats our expectations,” he said. The markets were boosted earlier after Exxon Mobil Corp (XOM.N) declared force majeure on exports of Nigeria’s largest crude grade as a portion of production had been curtailed following damage to a pipeline by a drilling rig. OPEC also released its monthly production report at the weekend showing that Angola remained, Africa’s biggest crude producer, since last February that it took over the status from Nigeria. Generally, the cartel, the data showed, pumped 32.44 million barrels per day (bpd) in April. It said in a monthly report citing secondary sources that its production, despite dip in Nigeria’s output, was up 188,000 bpd from March, the highest since at least 2008, according to a Reuters’ review of past OPEC reports. The group signalled that the global oil glut might increase this year, as surging output from its members makes up for losses from other countries whose production has been hit by low prices. Crude prices were also pressured, as investors were locked in profits, as oil headed for its fifth week of gains in the last six weeks

1.65 million bpd Being the total oil output from Nigeria due to recent militant attacks

and ahead of a long weekend in several countries in Europe, including Germany and France. Brent crude futures LCOc1 were down 20 cents at $47.88 a barrel by 11:57 a.m. ET (1557 GMT). U.S. West Texas Intermediate crude futures CLc1 fell 43 cents to $46.27. “The market sentiment remains biased to the upside supported by a growing view that the global oil complex is already in a rebalancing pattern,” Dominick Chirichella, senior partner at the Energy Management Institute in New York. This newspaper had earlier reported that Nigeria’s revenues from crude have sunk by N58.5 billion ($292.5 million) in 13 days buoyed by loss of 6.5 million barrels to production shut down in May. Checks by New Telegraph showed that Shell alone accounts for about 250,000 barrels a day from the total loss, which perpetuated Nigeria’s loss of Africa’s biggest oil producer’s status to Angola. The production loss, data of the ministry of petroleum resources obtained by this newspaper showed, has accumulated to 6.5 million barrels in May alone (May 1 and May 13). This, the data revealed, followed CONTINUED ON PAGE 24

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

BUSINESS |news

African carriers to lose $100m in 2016 TRIFLING The region accounts for less than two per cent of global traffic

Wole Shadare

frican airlines are in dire straits as they are likely to lose $100 million in 2016, according to Chief Executive, Airlines Association of Southern Africa (AASA), Chris Zweigenthal. He disclosed this at the three-day Air Finance for Africa summit that ended in Johannesburg, South Africa, last weekend. This is, however, an improvement on the $300 million loss recorded by the continent’s carriers last year. The AASA boss equally lamented that out of 200 African airlines, only 34 are International Air Transport Association (IATA) members. IATA membership confers on airlines opportunity of helping to contain costs, improve cash flow and maximise efficiency. IATA is the backbone of the global air transport industry, helping members achieve cost reductions related to air traffic control charges, fuel and taxation. He said that the region accounts for less than two per cent of global airline passen-

ger traffic and about one per cent of global airlines’ cargo. The expert said that the challenges facing the African aviation industry range from strong state protectionism, lack of an enabling environment for new investors, high taxes and charges (above comparative world averages), a poor safety record due to ageing fleet and insufficient regulatory supervision. He noted that likewise, a lot of air transport infrastructure across the continent is in need of upgrade. Zweigenthal noted that the continent’s airlines are struggling with high taxes and charges, particularly levies on fuel. His said: “This has made it

difficult for African carriers to charge cheaper fares. Instead, Gulf, European and Middle Eastern carriers have moved into the breach, taking the lion’s share of Africa’s air traffic business. Foreign carriers have subsidised fares, non-interest loans, grants and other major support. “Any benefits Africa might hope to reap from the global fall in oil prices have been cancelled out by high taxes and charges as well as a strong US dollar. National carrier Kenya Airways is among the hardesthit African airlines, as 37 per cent of its fuel costs go to taxes and levies. Sky-high fuel taxes and other levies are going to ground Africa’s airlines soon-

Experts foresee improvement in the sector before the year runs out Dayo Ayeyemi

espite economic downturn, the construction of a new shopping mall in Nigeria worth $68 million (N22 billon) is billed for Abuja before the third quarter of this year. The project being developed by Novare Real Estate Africa, would be erected on an approximately 25,000m2 and executed in phases. The first phase, according to the construction firm, will lie on a 15,278m2. Novare is also the developer of 22,000m2 Novare Lekki mall, which is expected to commence trading in the middle of 2016. The company is banking on the emergence of a new administration and the industry prospects for its new investment in Abuja, which

ends. We also have high taxes and charges that are imposed by the governments and other institutions on passengers and airlines. These are to raise revenue for other sectors other than the air transport development on the continent, he added. “We have already started engaging with some of the African governments – where taxes and charges on air travel are much higher, and where fuel taxes are also very exorbitant – with the view to reviewing these downward. We also have situations at some airports where passengers are levied taxes today for the construction of new airports, which will be used by passengers in the future.”

L-R: Chief Corporate Services Officer, Mrs. Kunbi Labiyi, Chief Legal Officer, Lucky Ayomoto, Chief Technical Officer, Ashok Acharya and Head, Agents and Channels Development, Mrs. Felicia Nlemoha, all of Benin Electricity Distribution Plc (BEDC) during the Customer’s forum held by the organisation for customers in Edo State and environs.

N22bn mall coming despite Nigeria’s economic slump OPTIMISM

er rather than later,” he added. He urged African governments to move swiftly and forego the kind of revenue that stunts growth in certain key sectors such as aviation. He stressed that it makes no sense to make African airlines contend with a competition that is so heavily subsidised and otherwise protected, adding that the very notion of competitiveness itself is at risk. Zweigenthal also lamented that the cost of air travels in Africa is far more expensive than anywhere else in the world, saying the reason are not far-fetched. “We have very high operating costs from the airport

is expecting to witness large volume of activities. Despite the current low returns on investment, experts see improvement in the sector before the year runs out, especially with the passage of the 2016 budget. Apparently impressed by this development, Minister of Federal Capital Territory (FCT), Alhaji Mohammed Bello, said his administration would give all the support that is needed to make projects like Novare Gateway successful to drive employment opportunities and other multiplier economic activities. Information gathered showed that Novare Gateway mall project has joined forces with the Abuja Chamber of Commerce to execute the project by leveraging on local information, local content and local expertise. Head, Property Development, Novare Real Estate Africa, Jan van Zyl, described the project as the modern infrastructure and facilities perfectly designed and situated to meet the needs of the growing Abuja community. The latest PWC African Retail report had predicted

that Abuja would experience a growth rate of 171 per cent in terms of its population size up to 2030 – one of the highest figures on the continent. The shopping mall is located on the main 10-lane highway between Abuja’s Nnamdi Azikiwe International Airport and the central business district. “When it opens, Shoprite will be anchoring the mall,” the developer said. The developer’s portfolio includes other malls in Abuja, such as the Novare Apo mall on a 867m2 located approximately 18 kilometres away from Novare Gateway to the south-east of Abuja. In the north, the 12,508m2 Novare Central, a mixed use centre consisting of retail space, while grade A offices are still in progress. There have been increased in shopping mall developments in Nigeria in the last five years due to favourable economic climate. Experts had earlier predicted that the year would provide investors the opportunity to acquire property at the best low prices.

Nigeria’s oil production falls to 1m bpd CONTINUED FROM PAGE 23

attacks and mechanical leakages on oil installations and facilities in the country, the latest of which was the damage to a pipeline operated by Exxon Mobil at the weekend, reducing supplies of Nigeria’s benchmark Qua Iboe crude oil. The country was set to export 317,000 bpd of Qua Iboe in June. This news comes, as Nigeria’s production slumped to a 22-year low after Royal Dutch Shell PLC declared a force majeure on Bonny Light crude due to sabotage on a pipeline. “This is the latest setback for Africa’s second top producer that has pushed output to its lowest in more than two decades,” traders said. Operator Exxon Mobil Corp confirmed in an email that a drilling rig, experiencing mechanical difficulties, damaged the pipeline it jointly owns with the stateowned Nigerian National Petroleum Corporation (NNPC) and caused a spill on Sunday. Meanwhile, Nigeria’s oil production output has remained at 20-year lows and slipped behind Angola as the continent’s top oil producer. The attacks are the result of a resurgent militancy in Nigeria’s oil rich Niger-Delta region where a new group, called the Niger Delta Avengers, has taken up arms, attacking pipe-

lines and major installations. Last February, Royal Dutch Shell stopped oil shipments after an attack on a key pipeline, which supplies a terminal with an export output of about 250,000 barrels a day. Shell has also been forced to evacuate a major oil field after militants issued threats of an attack. Another oil company, Chevron, shut down a facility costing the country around 90,000 barrels daily after it was “breached by unknown persons”. The attacks have also hit pipelines supplying local refineries and electricity gas lines in the country. The Niger Delta Avengers group says its goal is to “cripple the Nigeria economy” unless the government accedes to the continuation of an amnesty programme for militants in the region. Another demand of the group was the immediate clean-up of Ogoniland. Mobil Producing Nigeria (MPN), however, said that it will continue to assess the situation that led to mechanical difficulties being experienced by a drilling rig on its installation. It did not give any other details and it was not clear how much output was lost. Depthwize Nigeria Limited owns the drilling rig and the drilling is on behalf of Conoil Producing.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Energy

Beyond the Minister of Petroleum Resources, Dr. Ibe Kachikwu’s rhetoric on benefits inherent in subsidy removal, ADEOLA YUSUF unveils the hurdles, which the new regime will have on the oil and gas industry

bviously, many were be caught unawares by the last Wednesday’s announcement of subsidy removal on Premium Motor Spirit (PMS) also known as petrol, but the marketers were not. With the speed of light, the retailers of the product across the country quickly to complied with the new price regime by adjusting their pumps from N87 to N145 per litre. Before Kachikwu kick-started explanations on the benefits of the government’s action, long queues for the products in many filling stations across the country, especially in Lagos and Ogun states, began to disappear and this eased the task for Kachikwu, who doubles as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC). Meanwhile, beyond the benefits that are highlighted below, the new regime will throw up new hurdles for the oil and gas industry. Merits One of the benefits of the new pricing regime, according to Kachikwu, is to pave the way for marketers to import the product and loose the wheel of fuel distribution from many clogs. A few hours after the policy was conveyed to Nigerians, products’ depots in Apapa, Lagos became a beehive of activities, as they disregarded the ex-depot prices used a few minutes before the announcement of subsidy removal last Wednesday. With the high cost of foreign exchange, government has freed itself from sourcing forex at the official exchange rate of N197, which is far below the current (as at Sunday) N345 per dollar at the black market. Apart from the trillions of naira spent over the years in the payment of subsidy and its attendant corruption, perennial crisis in downstream sector buoyed by the government’s interference in the market through the management of subsidy regime, has also fueled the need for the removal of subsidy. The new pricing regime will, as seen by this newspaper’s survey, reduce hoarding, smuggling and diversion substantially and stabilise price at the actual product price. It would also ensure market stability and improve fuel supply situation through private sector participation, create market sta-

Fuel hawkers run after a patron

Subsidy: Another look at fuel price increase bility, potentially generating new jobs through new investments in private refineries and retails and at the same time, preventing potential loss of jobs in existing investments, which were threatened in recent years. With one trillion naira spent on subsidy in 2015 alone, the regime has, even before its stoppage, became unsustainable and the continuation of subsidies in any form limited the ability of government to deliver its statutory functions such as power generation, health, education and security. The new price regime will enable government focus on these critical sectors and free up the nation’s scarce foreign exchange via Central Bank of Nigeria (CBN) to be used in other sectors. Deputy President of the Nigeria Liquefied Petroleum Gas Association (NLPGA), Nuhu Yakubu, told this newspaper at the weekend, that government’s action, though may be tough at the beginning, was the best to liberate the country’s economy from the shackles of uncertainty. He said: “Suddenly, if you observe, the queues have disappeared in many stations and what we believe is that this regime will throw up competition, which will eventually crash the prices and liberate the country.” Opposition While some people saw the subsidy removal as the best thing to have ever happened to the downstream industry, Mr. Femi Falana, a constitutional lawyer and Senior Advocate of Nigeria (SAN), insisted that the removal of subsidy was “illegal, immoral, insensitive and a disobedient of court order.”

Power of PPPPRA on quarterly fuel allocation has been whittled down

Falana said he was further enraged because during the All Progressive Congress (APC) campaign last year, the party’s presidential candidate, General Mohammadu Buhari, pledged that if elected as president by the Nigerian people, his administration would not remove fuel subsidy. “Since he won the election last year, President Buhari has consistently resisted pressures from the neo-liberal characters in government to remove fuel subsidy and increase the price of petrol,” he said. Recalling that the Ministry of Power defied a court order, which had restrained government from giving effect to the proposed electricity tariff, the constitutional lawyer argued that the decision to increase the price of petrol is also illegal and contemptuous. He cited the case of Bamidele Aturu versus Attorney-General of the Federation (unreported suit No. FHC/ABJ/CS/591/2009), where the Federal High Court declared illegal and unconstitutional the policy decision of the Federal Government to deregulate the downstream sector of the petroleum industry contrary to the combined effect of the provisions of the Price Control Act and the Petroleum Act. Fuel allocation in disarray Given the new regime, the power of Petroleum Products Pricing Regulatory Agency (PPPPRA) on quarterly allocation of the fuel imports permit has been whittled down. PPPRA was, prior to this new arrangement; empowered to, at every three months interval, allocate permits to importers and the NNPC on volume of the product to be imported.

Aside the end to the PPPRA’s power on future fuel imports allocation, the 3.5 million metric tons second quarter fuel allocation is already in disarray buoyed by the total removal of subsidy on the Premium Motor Spirit (PMS) by the Federal Government. Instead of adherence to the allocation, marketers have now been let loose to import with disregard to the allocation due to the new import regime of subsidy removal. The Federal Government has also set a new target of 2019 for Nigeria to become a net exporter of refined products. A document from the Ministry of Petroleum Resources seen by this newspaper showed that the minister was optimistic that the target will be met with the new price regime of N145 per litre and the total removal of subsidy on the product. “The objective is to create a competitive downstream petroleum market in Nigeria and be a net exporter of petroleum products by 2019,” the document showed. Checks by this newspaper showed that the price regime and the liberty given to marketers to import has thrown the second quarter allocation, which is presently in place, in disarray. The PPPRA had earlier issued import permits for 3.5 million metric tons of petrol under the second-quarter import programme, from three million mt in the first quarter. The pricing regulatory authority also slashed the allocation given to the NNPC from the 78 per cent in the first quarter to 41.73 per cent. CONTINUED ON PAGE 26

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

BUSINESS | Energy

REASON BEDC will give services only to those who will pay for it so that the firm can provide better services for customers Stories by Adeola Yusuf

n a bid to provide better billing information, Benin Electricity Distribution Company (BEDC) has targeted June for the completion of migration of its customers to a new billing system. The company disclosed this in a statement made available to New Telegraph at the weekend. Already, BEDC said that the new billing format had commenced for customers in Edo “effective March 2016,” for all Maximum Demand (MD) customers and all other categories of customers. BEDC said: “In order to provide better billing information to customers, BEDC has commenced migration to a new billing system named Electricity Billing Management System (EBMS). Effective March 2016, the new billing format commenced for all Maximum Demand (MD) customers and all other categories of customer in Edo. Customers in Delta, Ondo and Ekiti will be moved to the new billing format effective April 2016,” the company said. Sensitising the customers on the new billing system, the BEDC said reading of customers’ meter is expected to be done monthly or at least once in three months. But whenever a reading is not done in any month, an adjustment will be

New billing system concluded by June, says BEDC used with the subsequent reading, the company said. Also, where a customer’s meter is found to be obsolete or incorrect, the meter reading will be suspended and direct/ estimated billing will be utilised prior to the replacement of the meter. Such suspension will be notified to the customer via a letter. “All customers under estimated billing will have their estimation done based on NERC approved cluster billing average methodology. Where bypass is noticed during meter

reading and/or billing period, the read information may be suspended and customer billed appropriately on Direct/Estimated using NERC cluster billing methodology,” the statement said. The programmes of the company including its billing system had earlier received accolades from customers including civil society activist, Reverend Olu Martins. Martins had at forum, explained to residents of communities in Egor area of Benin, Edo state, that the reason why

The allocation was, according to PPPRA, schedule given marketers including Techno Oil Limited, Oando Plc, Masters Energy Oil and Gas Limited, Mobil Oil Nigeria Plc, AA Rano, Total Nigeria Plc and NIPCO Plc. Also on the list are Integrated Oil and Gas Limited, Folawiyo Energy, Forte Oil Plc, Conoil Plc, MRS Oil and Gas Limited, Heyden Petroleum, among others. “Although a few marketers have placed order under the Q2 programme, I can tell you that the whole programme is voided by the subsidy removal,” a marketer told this newspaper, adding that everyone “is now on his or her own.” Dr. Ibe Kachikwu, who held a meeting with the private marketers at the NNPC Towers in Abuja on March 30, briefed the firms on the outcome of his engagement with the CBN on how the issue of scarcity of foreign exchange would be tackled. Checks revealed that he gave assurance to the marketers that the federal government would provide part of the forex for the importation, while the marketers would source for the balance.

perennial energy crisis that was yet to be addressed. He explained that the power sector had been starved with investment since 1984 whereas the country has increased in population and infrastructure. The Civil Society activist added that current operators of BEDC spent huge amount to purchase the company and “it is only natural for them like businessman to get their returns on investment and equally make profit, hence they are to give services only to those who will pay for it.”

Power sub-station

Subsidy: Another look at fuel price increase CONTINUED FROM PAGE 25

they are experiencing power outages arising from inadequate supply, was because BEDC is facing challenges due to inability of Generating Companies (GenCos) to generate more electricity for domestic and industrial needs. Rev Martins, who made the assertion during a town hall meeting held in Ugbowo, said there was a great challenge of power in Nigeria with less than 5,000 megawatts to a population of 170 million, stressing that the current energy output of 1,500 was a reflection of the

“The meeting deliberated on the issue of forex and the second quarter import allocation. He (the minister) told the marketers that their lion share has been restored while the allocation of NNPC has been slashed. The minister promised that the federal government would provide part of the forex, while the marketers source for the balance, which will also be paid later by the government. The Federal Government was also considering payment of interest on the balance. “All these will also not happen again because we are all expected to source forex on our own under this new regime, while the government would be freed from paying any further interest,” the marketer said. Survey of post-subsidy removal Meanwhile, activities at filling stations and depots especially in Apapa, Lagos have continued to peak following the removal of subsidy. Loadings of product in Apapa, when New Telegraph visited, were done massively after retail marketers had also augmented the prices to a new price regime. All the depots of major marketers were loading the

product, while the queues of tankers had spread to the Ijora Bridge, about five kilometers to the depot. “There are massive loading in most of the depots today. At least, each of them have loaded over 100 trucks as we speak,” a source at one of the depots told this newspaper. Loading was however, halted at the seven depots that were on throughput scheme for the NNPC. Some of the depots are Capital Oil, Folawiyo, Aiteo, Heyden and MRS. The source said: “This is because unlike the majors’ depots, the seven depots you talked about have to reconcile the accounts of those that have tickets with them and this will take a few days to do”. Further checks by this newspaper, however, showed that the NNPC filling stations in U-Turn and Abbatoir were already selling the product at N145 per litre. Conclusion Despite the pains that accompany the subsidy removal, Nigerians need to support this government because the merits of the new regime far outweights its demerits.

Reps back FG on subsidy removal

he House of Representatives has thrown its weight behind the Federal Government’s removal of subsidy on Premium Motor Spirit (PMS) also known as petrol. Chairman, House Committee on downstream sector, Hon. Joseph Akinlaja, who said this when he led other members on a tour of Nipco Plc depot in Apapa, Lagos, maintained that the solution to the frequent fuel scarcity in the country is deregulation of the downstream sector, a feat that will not only give equal opportunity to all operators but also allow market forces to guide the sector. The regulation in a society that is not well disciplined, he said, would continue to breed corruption as the common man, which the policy seems to protect may be worse off at the end of the day While commending the numerous contribution of the company either in forms of additional investment or social support through its plethora of corporate social responsibility, Hon. Akinlaja enjoined Nipco to

continue to keep up the memento in the overall interest of the hydrocarbon industry. He explained that as someone who was part of the conception of the company, he feels fulfilled with the accomplishments of the organisation in barely twelve years of operations. In his remarks, Managing Director, Nipco plc, Venkataraman Venkatapathy, said the company will continue to support government to achieve meaningful growth in the oil industry as the main stay of the nation’s economy. “We remain very resolute about the resilience of the Nigerian economy and the ample opportunities therein, which we hope to continuously be part of for a very long time,” he declared. According to him, the great upbeat in the nation’s economy explained the increase in the level of investment by the company in the realm of natural gas utilisation, either as Liquefied Natural Gas or as Compressed Natural Gas, for powering of vehicles and machines.

TUESDAY, may 17, 2016 NEW TELEGRAPH

Homes&Property

Power, Works and Housing Minister, Mr. Babatunde Fashola, has drawn the ire of estate surveyors by attributing high cost of accommodation to their activities. DAYO AYEYEMI reports

here has been a disagreement between estate surveyors and Minister of Power, Works and Housing, Mr. Babatunde Fashola, over high cost of housing and rental values for average Nigerian. While the minister indirectly placed the blame in the court of estate surveyors for putting up all forms of fees ranging from agency to legal and caution fees to the detriment of home seekers, the latter said that the minister’s argument showed little knowledge of the workings of real estate sector. Matters arising Speaking recently at the annual general meeting of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), the minister, who was represented by one of his special assistants, Mr. Biodun Oki, listed overvaluation, agency, legal and caution fees among other factors responsible for high cost of housing. These factors, he said, had led to an estimated 5,000 vacant properties in Lagos. According to the minister, a survey conducted recently show that a large percentage of home seekers consider the payment of agency, agreement, caution/damages fees too outrageous. He explained that home seekers said such fees put a strain on their resources. He said: “There is an estimated 5,000 (unverified) properties that could not be let in Lagos because they were expensive, either as a result of overvaluation, agency, legal and caution fees or a combination of all.” While enjoining estate surveyors to do something to reduce the burden of high fees, Fashola stated that many home seekers had expressed difficulty in getting accommodation because of high fees charged by them. “They said that these fees, added to the demand for one year rent in advance, have affected their lifestyles and ability to meet other daily expenses adversely,” he said. Survey According to the survey, the minister noted that 50 per cent, 35 per cent, 44 per cent, 41 per cent and 33 per cent of people in Lagos, Abuja, Port Harcourt, Ibadan and Kano

A modern residential estate in Lekki, Lagos

Estate surveyors, minister differ on housing cost respectively, relied on estate agents when searching for accomodation. “If we extrapolate these numbers across some of the urban centers of Abuja, Port Harcourt, Kano and Ibadan, it is easy to appreciate the number of people excluded from shelter and the number that you can impact for good if you make some adjustments,” he said. This extrapolation, he said, had become real by a discussion he had with a landlord recently, who admitted that one of his property had been empty for two years because people could not pay the one year rent advance and other charges. He said: “He promised to try my suggestion of taking monthly rent, secured with the guarantee by employer of the tenant to make payment from the employee’s salary if he found a tenant, in order to ensure there is no rent default. “So, how fair is the practice of asking the tenant or buyer to pay 10 per cent legal fees and 10 per cent agency fees when the legal practitioner and estate agent acted for the landlord and did not represent the tenant or the buyer?” Surveyors’ defense Some estate surveyors and valuers are, however, not taking it lightly with the minister, who they thought should

Government, acting alone, would not be able to meet the nation’s housing deficit

have shown more understanding of their sector. Reacting to the minister’s position, the Chair man, Lagos branch of NIESV, Mr. Samuel Effiong Ukpong, said it was unfortunate that the housing minister lacks the knowledge of the workings of estate surveyors and valuers. According to him, most of the components of housing included funding, land, building materials and infrastructure such as road, water and electricity, which estate surveyors have no control over. Ukpong, in a telephone chat with our correspondent, queried the contribution of government to housing production process, saying that the authority was not taking the lead by providing basic infrastructure for accommodation development. According to him, estate developers and builders will be the ones sourcing funds at exorbitant rates, buying land, building houses, providing road, water and security on their own without gover nment’s input. T he La gos NIESV boss said: “It is the developer that will go to the bank to source for fund at high interest rate, build houses and sell to recoup his investment and pay back his debt. So, where are estate surveyors influencing his decision? “If a landlord is letting his property for N1 million, the agency fee is just 10 per

cent (N100,000) and I don’t think that will keep anyone from letting.” He enjoined gover nment to do something about the depreciating value of the naira and high cost of building materials in order to reduce cost of housing in the country. The NIEVS boss disclosed that his institute was planning to visit the minister and educate him and others so that he would have better understanding of things in the purview of estate surveyors. “There is a lot of works to do. We plan to visit the minister and educate him and others to know there are few things in the purview of estate surveyors,” Ukpong said. Another Lagos-based estate surveying and valuation practitioner, Mr. Kunle Awolaja, said the issue with high rent had a lot to do with market forces of demand and supply and not agency fee. According to him, when demand outstrips supply, there would be scarcity of property, while more money would be chasing a few available houses. In the course of this, he said landlords or developers would jerk up their rent to make more profit. “But when we have more supply of property in the market than demand, rent will come down. It is not about agency fee or caution fee,” he CONTINUED ON PAGE 28

TUESDAY, may 10, 2016 NEW TELEGRAPH

Business | Homes & Property

JOB CREATION

FG should engage services of indigenous engineers in planning and execution projects Dayo Ayeyemi

he Lagos branch of the Nigerian Society of Engineers (NSE) has urged the National Assembly to expedite action on the passage of engineering related bills before it. These bills, according to the Chairman of Lagos branch of NSE, Mr. Oludayo Oluyemi, include the Road Fund/Board Bill, Federal Highway Authority Bill and Transport Commission Bill. He appealed to the legislators to instantly give attention to the bills by urgently passing them into law to stimulate development in road/ transportation sector of the economy. Speaking at the NSE public lecture/ awards and induction ceremony in Lagos, Oluyemi also tasked the Federal Government to engage the services of indigenous engineers in the planning and execution of all projects in the country. According to him, federal and state governments should patronise technically-qualified indigenous engineers who are contractors and consultants for the purpose of driving job creation, security, education, agriculture, health and provision of infrastructure. Advising the 57 inductees to the fold of Lagos NSE, Oluyemi urged them to be law abiding, uphold integrity and conduct themselves as professionals by upholding the ethical standards of the society in

Engineers to NASS: Expedite action on road, transport bills

all their endeavours. The Chairman and Chief Executive Officer of Sparta Contractors Nigeria Limited, Dr. Atilade Oshoniyi, received the Lagos NSE Merit Award for his immense contribution to the engineering profession. In his lecture: “Entrepreneurship and Strategy,” the Country Managing Partner, Celmeng Group of Companies Limited, Dr. Folu Olusanya, an engineer, described en-

trepreneur as someone who would undertake innovation, finance and business acumen in an effort to transform his sight into economic goods. He is of the opinion that entrepreneurship in emerging markets like Nigeria could be a major factor in the return of a hearty global economy. According to him, entrepreneurs are dreamers, thinkers, performers and leaders with business management

said. Government’s proposal Fashola, however, promised that government would concentrate on building houses to start the process of improving home ownership as one side of the shelter issue of urbanisation. He tasked the surveyors to contribute to other half of shelter acquisition by making rental accommodation more affordable. He said: “It is no secret that we are faced with a housing deficit that we must reduce, what is debatable is, of course, the size of the deficit. “My take is that whatever the size of the deficit, the first step to reducing it starts with a clear plan, which we are already working on and not with lamentations, which we are not indulging in. “Very shortly, we will be unveiling the details of that plan to Nigerians, and how we in-

ship in exchange for capital to operate the business, and commercial loans. On the business strategy to adopt, the Celmeng boss urged them to study their competitors, conserve cash no matter how good business is, research new products and services, avoid unnecessary expansion, listen to customers’ feedback for adaptation and also respond to change.

One of the uncompleted Lagos’ housing projects at Ilubirin

Estate surveyors, minister differ on housing cost CONTINUED FROM PAGE 27

skills. For engineers that want to source money for business, Olusanya stated that one of the most challenging parts of getting businesses off the ground was financing. He, however, allayed their fears, saying that they could source fund through personal saving/assets, external funding through family/ friends, equity financing by selling a share of owner-

tend to use it to re-ignite and diversify our economy on a sustainable basis.” However, Fashola war ned that government, acting alone, would not be able to meet the nation’s housing deficit, adding that not everybody would be able to own a house no matter how cheap they ultimately become. According to him, some people must rent. “In countries like the UK, where there is a successful housing scheme that has run for almost a hundred years, only about 64 per cent have become home owners, while about 36 per cent still live in rented accommodation,” he said. Conclusion Government and all stakeholders must address the 17 million Nigeria’s housing deficit by adopting simple housing designs and technology to meet both ownership and rental accommodation for the entire home seekers.

World Trade Centre: Firm adopts flexible plan for subscribers Dayo Ayeyemi

hurchgate Group has introduced a flexible acquisition plan to ease the burden associated with payment for a property within the World Trade Centre, Abuja. A communiqué by the company made available to New Telegraph by its Assistant General Manager, Corporate Communications, Mr Femi Awopetu, stated that interested buyers could now own a property within the WTC with a 10 per cent deposit while the rest is spread over a period of time as agreed by both parties. Commenting on the new development, the Marketing Manager of World Trade Centre, Abuja, Mr. Samrat Banerjee, said that such decision had to be made considering the pressure faced by individuals and businesses due to the current economic situation. Justifying the company’s action, Banerjee stated that the decline in crude oil revenue had taken its toll on all business segments including the real estate sector. “We are sensitive to the plights of

all our clients, and have introduced a flexible lease and acquisition payment plan to enable as many individuals and businesses that are interested in joining the World Trade Centre network to partake,” he said. Awopetu noted that the flexible acquisition plan was devised, putting the clients in mind. He said: “We want more individuals and businesses to enjoy the benefits of becoming a member of the World Trade Centre Association club. “Occupants within the WTC Abuja can connect with members of other World Trade Centres around the globe and enjoy their facilities and services at concessionary rates.” The WTC, Abuja, a mixed-use development consisting of luxury residences, AAA offices, 5-star hospitality and shopping centres, is among the other high profile real estate developments expected to be completed by 2016. Its Phase I consists of a residential tower that will offer luxury apartments with modern amenities and an AAA commercial tower that will accommodate businesses of all sizes.

TUESDAY, may 17, 2016 NEW TELEGRAPH

AVIATION

South African Airways and Arik Air, two of Africa’s airlines

African airlines in intensive ward This year’s Air Finance for Africa summit ended in Johannesburg, South Africa, with tales of woes trailing airline developments. WOLE SHADARE writes The gathering Global aviation experts, who converged on Johannesburg, South Africa, hinged the growth of the aviation industry on sustainable airline operations. They spoke at the 25th yearly African Aviation Finance Conference with the theme: “Air finance for Africa.” In attendance were some African leaders; representatives of aircraft giants - Boeing; Airbus; - African Airlines Association (AFRAA), Standard Chartered Bank, AfreximBank, aircraft lessors among others. They painted a gloomy picture of the sector but were unanimous in their beliefs that the situation could be remedied only if operators were serious of a quick revival of their fortune the way South African Airways and Kenya Airways are going to stop the drift. The continent’s big five South Africa’s airline industry is going through tough times — the largest aviation market on the continent faces significant challenges around declining international passenger numbers, difficulty filling increased domestic passenger capacity and the slow liberalisation of the African aviation market. The aging

cargo infrastructure at most airports is also cause for concern. Nigeria’s airline industry, regarded as the second biggest aviation market behind South Africa is equally stuttering, with airlines’ results continuing to spiral down. The flag carrier airlines find it extremely difficult to fill their planes and maximise the opportunity they offer considering the market size. Kenya Airways is going through turbulent times. It is an indication that all is not well with the East African airlines. A preliminary report from a senate committee that had been tasked with investigating the problems facing the national carrier on August 3, 2015 made some revelations into what could have actually hurt one of Africa’s most stable airlines. The committee said that the expensive ticketing system had resulted to Kenya Airways having non-competitive tickets in the market thus leading to loss of passengers and revenue. The routine arrangement with other airlines, said the findings, resulted in Kenya Airways failing to expand its aircraft numbers in time to take advantage of growing passenger numbers. Other issues were poor employee management system that has resulted in frequent long-drawn industrial action thus injuring its capacity to establish a healthy business environment. Among the poor decisions that resulted to losses were fuels hedging, aircraft leasing and buying through third party companies, which ultimately proved costly to Kenya Airways. Meanwhile, there is an up-

Africa has just 18 per cent of the entire global traffic

beat of revival strategy sought after a turbulent year in 2015 marked by shareholders’ despair and shocking losses. For the better part of 2015, top managers of the airline were at pains to explain the prospects of the flag carrier in the wake of successive huge losses. It all started in March when Kenya Airways announced that it had recorded a pre-tax loss of Sh29.7 billion ($244.4 million) during the 2014-2015 financial year, compared to Sh4.8 billion loss posted in the 2013-2014 financial year. The $244.4 million loss after tax for the period ending March, was unprecedented in Kenya’s cor porate history, prompting queries on the airline’s sustainability. The dismal perfor mance ear ned the national carrier the dubious distinction of being one of the highest lossmaking companies in East Africa. Egypt Air is not any better, as it continues to make losses, which were not helped by long protracted political crisis that affected tourism. Tourism is said to be one of the biggest earners for the country. The downturn in tourism, by extension hit the airline badly. One airline that has given Africa a pride of place is Ethiopian Airways, regarded as the most profitable and best run airline in Africa. Year in year, it continues to post incredible record of profits, renewing its fleet and setting the right examples to airlines across the continent. Every single day the airline operates 240 flights with an efficiently designed network of connectivity through their main hub in Addis Ababa. ET now has 76 aircraft in service;

many of them state of the art B787 Dreamliners, the latest B737NG and B777 models and a fleet of state of the art Bombardier turboprop Q440’s. Along with their Star Alliance partners, Ethiopian is one of three African Star Alliance airlines; they effectively cover the entire world. Experts’ views Convener of the summit and a former Secretary-General of AFRAA, Nick Fadugba, in his welcoming address, said, “African airline industry is in intensive ward. Africa has just 18 per cent of the entire global traffic. This is not good record. We need leadership in Africa. We are very poor at strategy and implementation for all the grand schemes.” He pointed out that African airlines faced increased competition from lucrative business traffic from Middle East and other carriers. He added that African airlines had struggled to obtain optimally-priced fleet financing, as well as aviation insurance. Chief Executive Officer, Airlines Association of Southern Africa (AASA), Chris Zweigenthal, lamented that out of 200 African airlines; only 34 are International Air Transport Association (IATA) members. IATA membership confers on airlines opportunity of helping to contain costs, improve cash flow and maximise efficiency. IATA is the backbones of the global air transport industry, helping members achieve cost reductions related to air traffic control charges, fuel and taxation. He disclosed that the reCONTINUED ON PAGE 30

TUESDAY, may 10, 2016 NEW TELEGRAPH

BUSINESS | AVIATION

Expert charges NCAA on JET A1 standard Pipelines neglect liable for high cost of Jet-A1

Wole Shadare

he Nigeria Civil Aviation Authority (NCAA) should draw up standards for Jet-A1 quality assurance, starting with the transportation vehicles type or profile; supply and trucking systems; storage and dispensing systems, aviation security expert, Group Capt. John Ojikutu (rtd), has said. Speaking with New Telegraph in Lagos, he said at the moment, vehicles supplying aviation fuel, otherwise known as Jet-A1 are not sufficiently distinct from those supplying other petroleum products. Ojikutu disclosed that the

consequence of all these development could result in fuel contamination as some of the Accident Investigation Bureau (AIB) Reports of some aircraft accidents have shown. His words, “Up till about 1992, Jet-A1 supply to Murtala Muhammed Airport, was through pipelines from Ejigbo or the Nigeria National Petroleum Corporation (NNPC) depot. The supply from the MMA depot to the hydrants on the apron where fuel is dispensed to aircraft, were done also through the pipelines. The method then was quality assurance in practice.” He however, regretted that unfortunately, since the pipelines got ruptured in 1992, nobody in NNPC, NCAA, Federal Airports Authority of Nigeria (FAAN) and even the airlines the end users, raised serious concern on why there had been no re-

pairs of the pipelines in 24 years. The former commandant, Murtala Muhammed Airport, stated that the neglect of the repair of the pipelines is a major reason for the high cost of Jet-A1 and invariably the airlines operating cost if the costs of transportation and demurrage on the tankers are considered. He explained that these costs are huge and are substantial earnings for the owners of the tankers used for bridging the fuel supply between the NNPC depot and the airport depot. He added that the tanker owners are those who would not want to see the pipelines repaired. Meanwhile, Ojikutu has raised the alarm over the rising indebtedness of Nigeria’s domestic airlines, which grew up to the present level because, most of the operators are sponsored

by or are sponsors of political office holders in government. He noted that with the ‘attitude of we own the government’ most of these operators had no intention of paying for the services rendered to them by the government services providers, despite the Economic Regulation Provisions in the National Civil Aviation Regulations (NCARs) Part 12 Sections 18.10.1-5, but thanks to the ‘change attitude’ brought about by the administration of President Mohamadu Buhari. He alleged that over the years, there had been some kind of conspiracy among the airlines and their promoters in government, who provide the avenue for reliefs or concessions on debts owed to govern-

AIR RAGE

African airlines in intensive ward CO NTINUED FROM PAG E 29

gion accounts for less than two per cent of global airline passenger traffic and about one per cent of global airlines’ cargo. He said that the challenges facing the African aviation industry range from strong state protectionism, lack of an enabling environment for new investors, high taxes and charges (above comparative world averages), a poor safety record due to ageing fleet and insufficient regulatory supervision. Zweigenthal noted that the continent’s airlines are struggling with high taxes and charges, particularly levies on fuel. His words, “This has made it dif ficult for African car riers to charg e cheaper f ares. Instead, Gulf, European and Middle Easter n carriers have moved into the breach, taking the lion’s share of Africa’s air traf fic business. Foreign car riers have subsidised

fares, non-interest loans, g rants and other major support. “Any benefits Africa might hope to reap from the global fall in oil prices have been cancelled out by high taxes and charges as well as a strong US dollar. National carrier Kenya Airways is among the hardest-hit African airlines, as 37 per cent of its fuel costs go to taxes and levies. Sky-high fuel taxes and other levies are going to ground Africa’s airlines sooner rather than later”. He urged the government and other African governments to move swiftly and forego the kind of revenue that stunts growth in certain key sectors, aviation being one of them. Conclusion It makes no sense to pit African airlines against a competition that is so heavily subsidised and otherwise protected. The very notion of competitiveness itself is at risk.

Wole Shadare

The ‘standoffish’ Murtala Muhammed Int’l Airport

A truck dispensing Jet A1 into an aircraft. Credit: shutterstock.com

ment agencies. “At some other times, there were government intervention funds given to some of the airlines at a cheap interest rate of two to six per cent to settle their operational debts and bank loans at a time bank’s loans were attracting interest of 23- 25 per cent.” “The Intervention Funds were given to these airlines without investigating their debts portfolios in the banks and the debts owed to the government agencies. These are greed that are hidden under government official secret act and are protected with government force. These are the greed that have caused the impasse and are now open to the public”, he added.

WITH

REGULATION

or a country the size of Nigeria, with a huge travelling population, the Murtala Mohammed International Airport Lagos, Nigeria’s major gateway, is an eyesore. This is beyond the dysfunctionality of the structure and its atmosphere. Everything is wrong with the airport. Many feel that it is one of the most unfriendly airports in the world. It’s very unwelcoming to visitors, passengers and airline staff; and probably the operator. The remodeling exercise of the airports embarked upon by former Minister of Aviation, Stella Oduah was a sham to say the least. The truth is that the Murtala Muhammed Airport, Lagos, that attracts millions of passengers in annual throughput, has a huge potential than any airport in Africa and so, deserves a turnkey multibillion-dollar investment. Nigeria should be seeing the type of OR Tambo International airport if the funds for remodeling were well spent. This is Nigeria where anything goes. Some of the hurriedly done airport refurbishing are already showing quick signs of decay. T r ave l l i n g ove r s e a s through Nigerian airports, particularly the Murtala Muhammed Airport, Lagos, is likened to war. You are practically exhausted by the time you bet onboard your flight after security operatives make you go through some of the gruesome security screenings in the world. One noticeable thing is the air of hostility that pervades the entire departure hall, especially checking in of passengers and arrival. It is only in Nigeria, Nigerian

Customs Service, officials, Immigration, Police and other security agencies who should ordinarily not have business with check-in dip their hands into passengers’ luggage with the excuse of checking for contrabands. If truly the scanning machines are working optimally, there is no reason to do manual security checks. This harrowing experience makes the Lagos airport a big stress for intending and arriving passengers. Nowhere in the world that I have visited have I seen such a crazy method of passenger facilitation. At OR Thambo Airport, Johannesburg, it took less than 15 minutes to get your luggage tagged, boarding passed issued and immigration processes concluded. Many functional airports adhere to quicker facilitation of passenger. But in Nigeria, the situation is different, thinking that these barriers were deliberately put there to extort money from frustrated travellers. Most of the security officials are seen openly demanding bribes as if it is their right. They do it with such arrogance without caring to know the identity of the person they are demanding bribes from. The effort by former Minister of Aviation, Osita Chidoka, to cleanse the rot perpetrated by all the security officials including those of the Federal Airports Authority of Nigeria (FAAN) seems not to have yielded fruits. Chidoka had laid down a strong rule to curtail extortion by these officials. He had stated that such actions damage Nigeria and destroy the fabric of its image in the comity of nations.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Intervention FG to release N200bn yearly to implement NEEDS Assessment

Education

Campus Students protest Nimbo killing by herdsmen

33 35

TALK-SHOP

In the third edition of its series, Covenant University, Ota, Ogun State, for three days, last week, assembled renowned scholars and policy makers within and outside the country to compare notes on how to proffer solutions to the continental challenges

Mojeed Alabi

arely one week after global scholars and policy makers rose from a three-day talk-shop on how to proffer solutions to African challenges, eggheads in Nigerian universities converged on the Covenant University, Ota, an industrial community in Ogun State, to address the multidimensional socio-economic challenges facing the human race and Africa in particular. It was at the third edition of the Covenant University International Conference on African Development Issues (CU-ICADI), where real time solutions were brought to the fore to address the developmental challenges. The three-day conference brought together young entrepreneurs, innovators, researchers, manufacturers, businessmen and women for one-one-one interactions with stakeholders in politics, agriculture, education, banking, and other sectors of national and continental economy to appraise the opportunities and challenges facing the African continent. Key personalities at the conference include former President Olusegun Obasanjo, who was the guest of honour; the Nigeria’s Permanent Representative at the United Nations, Prof. Joy Ogwu; Chairman Senate Committee on Information Communication Technology (ICT), Senator Foster Ogola; Group Managing Director of Skye Bank Plc, Mr. Timothy Akintayo; Executive Vice Chairman of Ibadan School of Government and Public Policy, Dr. Tunji Olaopa, among many others. With the theme: “Driving Inclusive and Sustainable Development in Africa: Models, Methods and Policies,” the talk-shop showcased many innovative projects exhibited by the university’s students and lecturers that are aimed at

kayode olanrewaju Editor, education

kayode olanrewaju@ newtelegraphonline.com

L-R: Obasanjo, Oyedepo, Ogwu and Ayo at the conference

Covenant Varsity’s recipe for Africa’s development addressing some perennial challenges, especially on insecurity and electricity, among others. Welcoming guests to the programme, the Founder and Chancellor of the university, Bishop David Oyedepo, urged African leaders in particular to be more committed to addressing the challenges confronting their respective nations. This was as he said that nobody would change the Africa’s story if its people failed to devise “in-house solutions” to resolve the challenges of the continent. He said: “What we are doing is to try to find in-house solutions that will lead us into the change that we are looking forward to. The truth is that nobody will come to change this place for us. Africa must have to survive or become extinct; it depends on our choice. We should not wait for anybody from outside to change our situation.” Oyedepo explained that a demonstration of the power of commitment was exemplified by the success story of Covenant University. “Here at Covenant University, we have never had power outage since 1999. We have never run out of water since 1999. We have never had potholes or craters since 1999. Our sewage system has never collapsed since 1999. Our security system has never broken down since 1999. That means unlimited possibilities for us in this country if we are truly committed,” he added. The Vice-Chancellor, Prof. Charles Ayo, expressed the com-

We must focus on domestic finance by increasing government revenue

mitment of the university to break the jinx and blaze the trail in the area of innovations towards tackling societal crises. He said the university initiated the programme three years ago in response to the slow pace of development on the continent and what he described as its abundant human and natural resources that have remained untapped. “Towards achieving this target, the university in the last two editions, has invited into the country about three Nobel Prize winners to share their experiences and expertise with us. But, for this year’s, we decided to look inward towards tapping from the resources we have here and you can all testify to it that our speakers this year have done justice to the theme,” the vice-chancellor stressed. Setting the tone of the conference, Obasanjo, the Founder and Proprietor of The Bells University of Technology, in his presentation, blamed Africa’s underdevelopment on discontinuity in government, poor leadership and corruption. The former President, who bemoaned the neglect of History as a subject of study in schools, regretted that any race that abandons its history is only attempting to erase its memory. On lack of continuity in government, which he attributed to one of the challenges stagnating African development, he blamed his successors for discontinuing some of the programmes he claimed he had initiated while as

the president, towards reclaiming Nigeria’s glory. Piqued by the slow development of the country and the critical role of the universities as the opium of economic, socio-political, industrial and technological development, Obasanjo urged the universities to continue to strive towards breaking new grounds in research activities. The keynote speaker, Prof. Ogwu, who noted that Africans must develop homegrown solutions to address their problems, lamented the prevalence of corruption, as well as illicit arms and light weapons in Africa. According to the former Foreign Affairs Minister, there are over 10 million illicit arms in Africa with over seven million of them flying around Nigeria’s territory. She, however, noted that foreign direct investment cannot thrive in an atmosphere of insecurity, urging Africans to address security challenges to enhance development. Prof. Ogwu said: “Financing must primarily be harnessed locally, while we must develop a model of how to do so by ourselves. African leaders cannot afford not to be attentive to national and continental survival. “We must focus on domestic finance by increasing government revenue. If our institutions are not strong enough to mobilise taxes, then there is a flaw and vulnerability in our system.” CONTINUED ON PAGE 34

education

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Nigeria,Germanyplanoff-grid NUC, NCC partner to strengthen research power supply for UI, ABU Yekeen Nurudeen Abuja

f the collaboration between the Nigerian Government and Germany see the light of the day, the challenge of electricity confronting the University of Ibadan (UI) and the Ahmadu Bello University (ABU), Zaria, will soon be a thing of the past. According to the Minister of Education, Malam Adamu Adamu, under the collaboration, plans have been concluded on the construction of off-grid solar power plants for the two universities. The Minister also said that the ground-breaking ceremony for the solar power plant will take place at the University of Ibadan before the end of next month. Adamu disclosed this in his office, while receiving the German Ambassador to Nigeria, Mr. Michael Ze-

Anwuka

nner, who paid him a visit. Speaking through the Permanent Secretary in the ministry, Dr. Folasade Yemi-Esan, who received the Ambassador on behalf of the minister, he however, hinted that the University of Ibadan and Ahmadu Bello University Solar power plants, will serve as pilot phase of the project. “And, if successful, the project will be replicated

in all other federal universities in the country,” the minister said, even as he pledged the ministry’s readiness to offer all necessary assistance to ensure the success of the projects. On his part, the Ambassador, who was led to the ministry by the Vice-Chancellor of University of Ibadan, Prof. Idowu Olayinka, told the minister that the projects will not only provide electricity to the university community, but will also facilitate the training of young engineers on renewable energy technology. Ambassador Zenner described “the project as very important since the university will become independent from other power sources, while the money saved could be used for research activities.” He, however, recalled that there has been an energy partnership between Germany and Nigeria since 2008.

Don pioneers conversion of photons to electricity A don at the University of Nigeria, Nsukka (UNN) and a Professor of Physics, with specialization in Solar Energy/Material Science, Rose Uzoma Osuji, has said there was the need for the country to seek alternative to epileptic electricity supply. This was as she canvassed the use of photovoltaic (PV) research and applications as alternative solution to the poor power supply in the country. “Photovoltaic simply is the science of generating voltage for electricity production by shining light on an appropriate semiconducting material,” Prof. Osuji added, she noted that the slide in the supply of fuel and dwindling of the economy, coupled with environmental problems confronting the nation, propelled her interest in the development of photovoltaic as alternative to electricity. This was the main thrust of the university’s 107th inaugural lecture, with the theme: “Lovely Surprises Come in Small Packages: Thin Film Photovoltaic,” In her lecture, she pointed out that what prompted her into the research area was the need to urgently move the country away from the perennial crisis of power supply. The don, however, called on the government and multi-national companies to support the research, saying through such efforts sustainable development could only

be achieved when research in this area is adequately supported. Towards this end, he said if more photons would be converted to electricity the epileptic power supply confronting the country would be a thing of the past. According to her, a photovoltaic cell or otherwise called solar cell, for instance, is a device used to convert solar energy directly into electricity. While explaining how photovoltaic works, the inaugural lecturer added: “Photovoltaic is the direct conversion of light into electricity at the atomic level. Some materials exhibit a property known as the photoelectric effect that causes them to absorb photons of light and release electrons. When these free electrons are captured electric current results and can be used as electricity. “For instance, solar cells can be made of the same kind of semiconductor materials, such as silicon, used in microelectronic industry. A thin semiconductor wafer is specially treated to form an electric field, positive on one side, and negative on the other. When light energy strikes the solar cell, electrons are knocked loose from the atoms in the semiconductor material. “If electrical conductors are attached to the positive and negative sides, forming an electrical circuit, the electrons can be captured in the

Prof. Osuji

form of an electric current resulting to electricity and can be used to power our domestic appliances.” Prof. Osuji, who held her audience including the ViceChancellor, Prof. Benjamin Ozumba, who chaired the lecture and other principal officers of the institution spell bound for almost two hours, hinted that the “Lovely surprises that come in small packages’ are simply ‘Photons.’ Therefore, she described Photons as tiny or small particle-like bundles or packages from the sun - an electromagnetic radiator.

Yekeen Nurudeen Abuja

new partnership that will foster research development and improve on the facilities of the Nigeria Research and Educational Network (NgREN), which domiciles at the National Universities Commission (NUC), has been endorsed by the Commission and the Nigerian Communications Commission (NCC). Addressing Newsmen after inspection of the NgREN facilities at the Abuja Headquarters of NUC, the Vice Chairman of NCC, Prof. Umar Dambatta, said a committee would be set up by the two Commissions to clearly identify key challenges hindering the development of the Network and possible areas of intervention. Dambatta, who said that the Education and Research Network would move Nigeria forward in the area of socio-economic development, pledged the commitment of the NCC to intervene in challenges facing the Network. He said: “Being a network architect, NgREN accommodates Nigeria education and research network that is dedicated to facilitate collaboration in Nigerian universities on research and other educational pursuits, that is why the NCC has come in to access the facilities on ground and appreciate the challenges while also intervening.

“I am impressed with what I saw. I have listened to the challenges and I have pledged the commitment of the NCC in addressing some of these challenges.” Danbatta added that NCC and NUC had also agreed to constitute a technical committee that will study the requests needed by the universities commission to address the challenges adequately. Speaking on the importance of the partnership, the NUC Executive Secretary, Prof. Julius Okojie, said the NgREN facilities could not be used for more complex research except when a bigger leverage is made available. Okojie added that when the NgREN facility is improved, ranking of Nigerian universities would also improve as higher institutions in the country would be more visible on the internet. While acknowledging that there is limit to the interventions the Communications Commission can offer, he noted: “NCC also has a limit in which it can assist us following the fact that every institution has its own mandate, and as Federal Government agencies any level the assistance could take us, the government will address the other problems.” The Nigerian Research and Education Network was launched in 2014 and it is a tripartite collaboration among the Federal Ministry of Education, the World Bank and the Federal Ministry of Communication Technology.

Registrar assumed office amid fanfare

he fifth substantive Registrar of the Ekiti State University (EKSU), Mr. Akinwumi Olusola Arogundade, a lawyer, was ushered into office, last week, amid a prayer session, led by pastors, members of staff and management, who prayed to God to grant him a successful tenure. Arogundade, who assumed duties on Monday was accompanied to the office by some clerics from the Anglican Church, Redeemed Christian Church of God, and Living Faith Church, among other Christian denominations. The prayer session was heralded by praise worship, after which the Dean, Emmanuel Anglican Cathedral, Ado-Ekiti, Very Reverend

Arogundade (kneeling) during the prayer session.

Francis Bankole, prayed for God’s guidance and protection for the new registrar. The Deputy Vice-Chancellor (Development), Prof. Victor Adeoluwa, also a Pastor, offered prayer to God to grant Arogundade the wisdom and fear of God to be able to perform creditably well in the course of taking the university to the next level. In a related development, the Vice-Chancellor, Prof. Samuel Bandele and members of management, formally welcomed the new registrar to his maiden management meeting, and sought courage for him to perform his duties within the ambit of the rules and regulations of the university. While reminding Arogundade that no man gets promoted except through God, the vice-chancellor, who quoted the Book of Joshua (Chapter 1: 3-7) admonished the registrar, not only to be prayerful, but also to be of good courage. Responding, Arogundade, who until his appointment was a Director in the university’s Legal Affairs Department, described his appointment as a divine grace because he never planned to become a Registrar. “It was God’s design to make a university registrar,” he stressed, even as he expressed gratitude to God for His benevolence; the Visitor to the university and governor of the state, Ayodele Fayose.

Interview | education

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

FG to release N200bn yearly to implement NEEDS Assessment Kayode Olanrewaju

ducation Minister, Mallam Adamu Adamu, has reiterated the commitment of the Federal Government to release N200 billion annually for the implementation of the NEEDS Assessment Report, to enhance the quality and standard of tertiary education. This was as he added that fate of tertiary education depended largely on the full implementation of the NEEDS Assessment Report, which according to him, “the government is committed to deliver.” On the need to sustain industrial harmony in the education system, that has prevailed in the sector since the inception of President Muhammad Buhari administration, which the minister attributed it to strong

NOUN to become distance learning hub in Africa Yekeen Nurudeen Abuja

he Vice-Chancellor of National Open University of Nigeria (NOUN), Prof. Abdalla Uba Adamu, has expressed optimism that the university would in no distant future take its pride of place as the hub of open and distance education in Africa. Adamu also disclosed that arrangements have been concluded by the institution to make in-roads to other parts of Africa towards strengthening collaboration and partnership in all spheres of academic and research development. This was as the vice-chancellor commended the Federal Government for its commitment to the development of open and distance learning (ODL) in the country. Adamu, who gave the commendation when members of the Bayero University Kano Alumni Association, FCT chapter, paid him a visit in Abuja, described the special intervention fund approved by the President Muhammadu Buhari’s administration for the university as the icing on the cake, which has opened a new vista in the operations of the institution. The vice-chancellor also explained that plans were underway to unveil a comprehensive advocacy programme that would involve people from the lowest rung of the social ladder to lead a campaign highlighting the intrinsic values of taking education to the doorstep of all Nigerians. In his remarks, the Chairman of the association, Mohammed Alhassan Gumel, extolled the virtues of the university, for being at the forefront of providing access to education to Nigerians irrespective of their socio-economy status. Meanwhile, in recognition of its dedication to openness, access, high quality and innovation, the National Open University of Nigeria has been awarded the Organizational Leadership Award for Excellence in Open Education.

partnership with the unions, he stressed that the government would continue to strengthen the partnership with all workers’ unions in the sector with a view to sustaining the existing healthy working atmosphere. “ASUU and the other unions are very patriotic people, who are concerned about the state of education in the country,” Adamu noted, saying most of what the union and others do are motivated by this belief. The minister said: “So, as far as I am concerned, the unions have gotten fellow travellers in this administration and the nation’s education project. I believe the President and his ministers are really passionate about education and its overall development. And, they would want to do everything to make education succeed. “ASUU and the administra-

Adamu

tion are going in the same line. So, I want to be convinced that we would not have a ground to disagree. We are not waiting for the unions to strike before we meet them. Indeed, the government is already making the approach to all the unions and I think there will be no strikes

in the sector. Similarly, the Minister, who spoke during a forum organized by the News Agency of Nigeria (NAN) in Abuja, the Federal Government was ready to harmonise tuition fees in all federal universities to stop arbitrary charge of school fees by some university authorities. He said since the protests over increase of tuition fees in some institutions started, the government has summoned the authorities of the universities on how the fees are going to be harmonised. According to Adamu, the ministry would do everything within its power to harmonise the fees paid in all the institutions with the belief that there will be no more protests over school fees in the nation’s tertiary institutions. The minister, however, re-

Fountain varsity not only for Muslims, says Registrar

Prof. Bandele (2nd left), being presented with the award by Sobio. With them are other principal officers of the university and the student leaders.

Mojeed Alabi

EKSU VC wins 2016 Kwame Nkrumah Leadership Award Kayode Olanrewaju

kiti State University (EKSU), Ado-Ekiti Vice-Chancellor, Prof. Samuel Bandele, has pledged the readiness of his administration to be on the side of students in their strive to become future leaders. This was even as he promised to be at the fore-front of the fight against corruption in Nigerian universities. He made the pledged at the institution’s Senate Chamber shortly after he was conferred with the 2016 Kwame Nkrumah Leadership Award on Administration and Most Outstanding Person on Education and Humanitarian Services Par-Excellence in West Africa by the West African Students Union (WASU). According to Bandele, vice-chancellors and lecturers in Nigerian universities should train and equip students with relevant skills for future challenges which will enable them to impact positively on the country and their alma mater. “What type of future leaders are you producing when your students graduate with pass or third class grades?”

called that the Federal Government was discussing with management of the affected universities, adding that efforts were also ongoing to introduce harmonised tuition fees for all federal universities. While decrying the high fees charged by private tertiary institutions in the country, the minister also explained that the government has no power to regulate fees in that sector. “First, I will agree with you that the institutions charge exorbitant fees, but I wish the government had the power to do something about it,” Adamu added, saying: “If I had the power I would stop them.” “But I think the thing is being treated like a market where you buy what you can afford. However, I believe the government should intervene,” the minister noted.

he queried, arguing further: “How do you want them to contribute to the country or their university after their graduation when they did not come out with good grades.” He, therefore, urged other vice-chancellors and lecturers, as well as members of the non-teaching staff of universities to join hands with the university management and his administration in the ongoing crusade for the training of students who would be useful and equipped with the right knowledge and skills for the development of the nation. Bandele, while receiving the award presented to him by the Secretary General of WASU, Emmanuel Sobio, said in his acceptance speech that corruption or misappropriate funds or resources would not be tolerated in the university and enjoined other vice-chancellors to join in the fight against such abuse in tertiary institutions. Dedicating the award to the entire university community, Bandele said that the award would further spur him to do more towards the development of education

and enhancing humanitarian services, not only in the university, but to the society at large. While presenting the award, Sobio said that the Kwame Nkruma Leadership Award of Excellence was bestowed on Prof. Bandele in recognition of his unblemished contributions in the field of education, nation building, and as relentless apostle of an ideal democratic institution as well as youths and students’ emancipation. According to Sobio, the vice-chancellor qualified for the award as a prudent public servant, community leader, a peace advocate and a man with magnificent experience. With this award, Bandele has joined the league of personalities including former President of Ghana, John Kuffour; former President of Nigeria, Goodluck Ebele Jonathan; Vice-Chancellor University of Ilorin, Abdulganiyu Ambali; the Founder and Proprietor of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola; and General Theophilus Y Danjuma, among others.

he management of the Fountain University, Osogbo, Osun State, has corrected the impression that the institution is strictly for Islamic adherents, saying the institution has produced a Christian as overall best student in the past. Speaking exclusively with New Telegraph, the Registrar, Alhaji Oladele Olanrewaju, described the institution as an ideal private university that embraces the core universal values of an ivory tower. He said, what the institution accords priority most was the inculcation of moral values under which both Christian and Muslim students are allowed freedom of worship. The registrar, however, noted that as an institution built on the value of excellence and academic integrity, it has secured full accreditation of all the academic programmes run by the university by the National Universities Commission. While calling on parents to stop sending their children and wards to study abroad in some substandard institutions, he argued that rather than engaging in capital flight, it will be ideal for Nigerians to embrace the universities at home. Olanrewaju said: “Nigerians hardly value what they have and that is contributing significantly to the economic challenges we are presently facing. Why should we prefer to send our children or wards to countries with substandard educational system, where we cannot easily monitor our children’s progress and conduct, when almost all the universities in the country are rated high even by our foreign assessors?”

education | public discourse relegation of History in schools

Obasanjo: It’s a tragedy Former President Olusegun Obasanjo is the Proprietor of The Bells University of Technology

was unpleasantly surprised when I learnt that history is no longer taught in our schools. How can History be abandoned in the curriculum, does that make sense? History is the memory of an institution, family and organisations, as well as the country. So, if we fail to teach the subject of History in our

schools, then it means we want people to lose their memory. What a tragedy! It will be in the interest of this country that we find a way of returning History to the schools and reposition it to acquire the attention it deserves from both the teachers and the students. The scrapping of History as a subject may have

contributed significantly to the moral degeneracy in the society since our children no longer have access to the truth about their past, and so they do not know what values could help them nurture their future. We need to address this to move forward as a nation.

Prof. Hope Eghagha is a former Commissioner for Higher Education in Delta State

was a member of a panel of assessors at an essay competition recently and I was surprised at the descriptions of distant places including America and Europe by young boys and girls. But, quite unfortunately none of them could describe anywhere near them in Nigeria, their

because their histories are unknown to them. Apart from that too, History syllabus has become outdated and few students only see the opportunities in studying the subject. It is, therefore, of great importance that to attain the socio-political and economic recovery Nigeria is aiming to achieve, we need to join forces with the already existing structures to return History to the schools and make it compulsory as a subject of study.

Osuntokun: Development is disheartening Prof. Jide Osuntokun is an Emeritus Professor of History and International Relations retired from the University of Lagos (UNILAG)

n the platform of the Nigerian Academy of Letters we have made efforts to return History to its place of importance in schools, but government has never

taken us serious. When Chief Obasanjo was the President, he said he had given executive directive on the matter but it was not observed. We discussed same issue with late Umaru Yar’Adua but his administration was short-lived. However, throughout the time of former President Goodluck Jonathan, he made promises but he never fulfilled them. What people have failed to understand is that Science can never take the place of History because

even science has its history. I have lived in many parts of the world including Canada and Germany; there is no nation that has relegated its History such as Nigeria. The most important thing for this new administration is that Nigeria’s history must be accorded respect and should be made compulsory in primary and secondary schools across the nation. In fact, history must be taught in higher institutions as a compulsory subject.

Oyeweso: Nigeria lacks official History Siyan Oyeweso is a Professor of History and former Provost, College of Humanities and Culture, Osun State University (UNIOSUN).

hen you get to the United States American Embassy, you can access America’s official History and ditto with other nations of

the world. But, it is quite unfortunate that Nigeria has no codified official History. It is that bad. We need, as a country, to emphasise the fact that the new change mantra of the new administration will not be complete without according History respect in the curriculum. It is heartwarming that the new Education Minis-

Academy, others empower undergraduates Olushola Ricketts

Eghagha: History must return to schools country. This is the result of those items the children are exposed to in terms of what they watch or listen to on the Internet, television and Facebook. It is unfortunate that modern gadgets have taken over the place of books in our various homes. Children are more addicted to their mobile phones than to their books. This has also informed their choices of role models and they could not understand why certain key figures in the country should be emulated

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

ter has promised to return History to schools, but we must say that its neglect has caused us more problem than ever. There have been cases of past leaders including first class monarch, who was sentenced to seven years imprisonment, but today the same monarch has a street named after him in Lagos.

o fewer than 200 undergraduates of the University of Nigeria, Nsukka (UNN), Enugu State have become beneficiaries of training, organised by a vocational institution, Gazzelle Academy in partnership with Fidelity Bank. The founder of Gazzelle Academy, Muna Onuzo, who described the experience as enlightening and fulfilling, said of the training: “It was an incredible experience, which has left a huge impression on the students such that they wished the training did not end.”    During the training, the students were trained in fashion, tailoring and stoning, while another group of about hundred students were trained on makeup artistry. The students before the programme had neither the opportunity to cut a fabric before nor pedaled a sewing machine, but they created a near perfect version of what they were taught in a

matter of days both in the makeup and fashion classes,” she added.   According to Mrs. Onuzo, the essence of grooming the youth is to engage and equip them to shun all forms of restiveness, which is common among the young ones as a result of unemployment in the society. “For us, at the Gazzelle Academy, investing in the Nigerian youths through empowerment such as this with practical skills and enterprise training that complement their educational certificates, gives them and us a sense of purpose,” she explained. Onuzo, who lamented the state of unemployment among graduates, pointed out that such situation could be frustrating, even as she noted that with the alarming joblessness, youth should be equipped with at least one vocational skill that would provide them the tool to fight unemployment in order to survive as job creators. She noted that training the students came with a huge cost, but expressed gratitude to Fidelity Bank Plc and BEN TV, which she noted were helpful.

Beneficiaries of the training.

Covenant varsity brainstorms on Africa’s development C O N T I N U E D F R O M PA G E 3 1

Meanwhile, in his presentation, the Head Talent Management of Forte Oil, Dr. Nduka Okoisor, said for Africa to be part of the first world, it must invest significantly in human capital, which he noted could only be achieved through sound and qualitative education. Giving the statistics on Africa, Okoisor said the population of Africa currently stands at 1.2 billion, representing only about 16 per cent of the global population, in which he noted that about 60 per cent of African youth between the ages of 15 and 24 are unemployed. To resolve this challenge, he said: “Building quality schools and aligning curriculum to industry requirements will be the best solution. We need to strengthen our primary and secondary education because this lays the foundation of human capital development. “Most schools do not have updated curriculum that reflects modern industry trend, while worse still some schools which could be said to have modern curriculum that are not tailored towards our environment. But, the challenge of inadequate research infrastructure can be addressed through strong partnerships with institutions through internship opportunities, funding of projects, career development and access to tal-

ent, among others. It will be a win-win situation for both the institutions and the industries. Some of the projects displayed at the exhibition stand include homemade drone made by some of the students including Kelechi Okwuriki of the Physics Department. While explaining the drone project, the student said with its in-built camera, the drone can fly many thousands of feet high unnoticed and collate information that could be useful for security checks. Also on the stand are solar-powered vulcanizing machine, solar-powered podium, covert audio surveillance and solar-powered refrigerator. According to the university’s Director of the Machine to Machine Embeded Systems Laboratory, Dr. Victor Mathew, the idea of the solar-powered products is aimed at defeating the challenge of poor electricity supply in African countries. He added that with their mass production, the products will be affordable and available to the people of the continent, pledging that the continued improvement on all the innovations by the university. The don urged Nigerians to stop purchasing substandard foreign products that could only encourage capital flight and discourage the nation’s economic growth and development.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Corps member donates machine to health centre Eddy Uwoghiren UNIBEN

corps member, undertaking his one-year compulsory National Youth Service Corps (NYSC) for 2015 Batch A’ in Delta State, Daniel-Didi Uwadia, has donated an autoclave machine to the health services department of the Federal University of Petroleum Resources (FUPRE), Effurun, Delta State. While presenting the material at a ceremony attended by the university’s Vice-Chancellor, Prof. Akii Ibhadode, the corps member said the dona-

campus

tion was part of his community development projects. “It is my little way of giving back to the health centre and contribution towards improved service delivery at the centre,” Uwadia said. Responding, the vice-chancellor commended the corps member for the gesture, pledging that the centre will put to good use the autoclave machine to better the health of the members of staff and students. Uwadia, a 2014 graduate of Medical Physiology at the University of Benin (UNIBEN), is undertaking his NYSC at the health services department of the university.

The protesting students

Students protest Nimbo killing by herdsmen Oladele Oge UNN

Daniel-Didi in a group photo with the VC (3rd left) and others during the donation

IMSU students’ union wins leadership contest Ekene Ahaneku IMSU

tudents’ Union of the Imo State University has won the 2016 Students’ Leadership Development Tournament (SLEDT), a contest for students’ union leaders in higher institutions of learning in the country. The tournament with the theme: “Transformation from Campus Leadership to Corporate and National Relevance,” was held at the University of Ibadan (UI), Oyo State. No fewer than 22 institutions registered for this year’s edition of the competition, in which only six got to the semifinal.

Emeka Onwudinjo UNIZIK

22-member accreditation team from the National Commission for Colleges of Education (NCCE) was at the Nwafor-Orizu College of Education, Nsugbe, Anambra State on a five-day quality assurance as well as assessment of facilities, academic programmes and appraisal of the teaching staff to ensure quality service delivery. According to the team leader, Vitalis Uji, the team is made up of experts from different professions across all the geo-political zones of the country were in the college to assess the standard of each academic department with a view to accrediting the courses

The first session of the tournament kicked off with the opening ceremony, which took place at the Trenchard Hall of the premier university, where the Sub-Dean of Students’ Affairs of the institution, Mr. Titilayo Femi Kings lauded the organisers of the programme, even as he anchored the orientation session at the event. The defending champion and former students’ union President of Osun State University (UNIOSUN) presided over the seeding for the event to kick start the tournament. Addressing the student leaders, Kings reassured the delegates of the nature of the event and the level of fairness of the judges.

o fewer than 300 students from the Federation of Association Nsukka Students (FANS) and South East Students Association, have protested the killings in Nimbo by Fulani herdsmen, who invaded their community. The students, who protested round major roads in Nsukka carried placards with various inscriptions such as: “We don’t want Fulani herdsmen in South East again,” Federal Government should disarm herdsmen and call them to order,” “If herdsmen killed all our parents, brothers and sisters, who will feed and pay our school fees,” “We say no to any other killing in South East,” “Students say no to the grazing bill,” and “Fulani herdsmen enough is enough.” Speaking to journalists, the National President of FANS, Hilary Omeke, said the students decided to protest in view of the level of atrocities the herdsmen have continued to perpetrate, even as they condemned the massacre in Nimbo in which many innocent people were

killed and several others were injured, while property were destroyed. The students said: “What happened in Nimbo is unprovoked attack on the people of the community by the Fulani herdsmen; we staged this protest to tell the herdsmen and the Federal Government that enough is enough. “If the government and relevant security agencies failed to call the herdsmen to order, and if such killings occurred again, we will have no option than to retaliate. Do you want us to keep quiet and allow the Fulani herdsmen to kill all our parents and siblings, and who will be left for us as our parents and siblings, and who will train us.” Omeke decried the level of evil being perpetrated by so the called herdsmen in South East, where they kill, rape our mother on their farms and kidnap people, and demand outrageous ransom. “We say no to this incessant killings, rape and kidnap of our people by herdsmen,” the protesting students lamented, calling on the government to intervene to save us from the merciless killers who move along under the guise of cattle herders.

NCCE accreditation team visits college that met the required standard and deny those that fell below the requirements for accreditation. Uji, who spoke on behalf of

team, said that they will ensure a quality exercise, even as he described their visit as a normal exercise being carried out periodi-

Dr. Uzoezie (6th from left) flanked by the team and other principal officers of the college.

cally in all colleges of education across the country. He noted that their assignment was to sustain quality assurance

According to him, FANS is an umbrella body for all students from Nsukka Senatorial District who are undergraduates in various tertiary institutions in the country. The President of UNN chapter of FANS, Kenneth Odo, said they wore black attires to mourn those killed in Nimbo, as well as to show that they were unhappy over the activities of herdsmen in Nsukka Senatorial District, in particular and South East in general. “As result of these incessant attacks, some of our colleagues, whose parents were victims have dropped out of school,” they regretted, lamenting that “injury to one is injury to all; Fulani herdsmen should either live in place peacefully or leave South East completely.” Linder Nwagu, who spoke on behalf of students from other South East states, condemned the incessant killings, raping and kidnapping being carried out by Fulani herdsmen in the South East. Piqued by the development, Nwagu urged the Federal Government to treat the issue of herdsmen across states as matter of urgent important before entire scenario gets out of hand. in the system, while their terms of reference include assessment of the quality of students and the lecturers. “We are here as part of our mandate to also interact and assess members of academic staff, their ranking, rating and qualifications. While welcoming the NCCE team to the college, the Provost, Dr. Cordelia Ego Uzoezie, however, assured the team that the management would provide necessary logistics for them to move round the campus in order to inspect the facilities in the various schools. She expressed optimism that the accreditation exercise will further foster a healthy system, even as the team praised the provost and its management team.

education

Principals, teachers advised against corporal punishment Temitope Ogunbanke

he need for principals and teachers in secondary schools to be friendly with their students rather than subjecting them to corporal punishment and physical discipline has been stressed. This call was made during a seminar organised by the Lagos State chapter of All Nigerian Conference of Principals of Secondary Schools (ANCOPPS) for the newly appointed principals in the state, which took place at Ikeja Junior High School, Oshodi, Lagos. The President of the state chapter of Conference, Mrs. Omotunde Lawson, said there are several ways to appeal to the conscience of a child without subjecting him or her to corporal punishment. Her words: “Corporal punishment does not change a child, but there are other better ways that you can appeal to the conscience of a child and make the child see reasons and know what he or she is do-

ing without applying so much pressure and dissipate energy to change his life for better. “I will advise principals and teachers to be friends either to your children or students. If you are a friend indeed, before they do anything, they will tell you what they want to do. They will ask you whether it is right for them to do what they want to do or not. You will know what is bordering them and before they do anything, you would have known the way they want to go and then you can always curb their excesses. If, as a teacher, you are a friend to your students, there is no way they will not tell you about themselves and their plans.” According to her, the purpose of the seminar is to train principals, who were appointed recently on their roles and responsibilities as principals; how to abide by the policies of Lagos State Government; how to ensure that they protect the rights of the children; how the issue of discipline should be taken in school without any infringement on the right of

the child, as well as ensure that absolute security of lives of the children which is very important to us.” In her paper on: “Physical Discipline and Corporal Punishment,” the guest speaker, Mrs. Alakija, said when corporal punishment is applied excessively in schools and at homes, there is tendency to make the children very hostile to their teachers or parents. This was as she added that this could lead to some children fighting back, especially when the pains become too much for them to bear. She said: “Corporal punishment strikes severe fears in the students and can easily make them to drop out of school. Here, they are so afraid that they would be whipped for the least mistake they commit. And this constant fear can make the students to drop out of school. “It can be very counterproductive in the sense that it can sometimes make children hardened and no longer afraid. Corporal punishment can

Members of ANCOPPS and school principals at the event

LASU to get campus FM radio station

Professor of Comparative Literature & Director, African Studies Institute, University of Georgia, Athens, Georgia, United States, Prof. Akinloye Ojo, will deliver the 20th convocation lecture of the Lagos State University (LASU), Ojo, Lagos. The theme of the lecture, which will is billed for Tuesday, May 24, is: “Empowering African Languages for SocioCultural and Economic Development in the 21st Century: A Case for Our Languages at Home and Abroad.” Activities making the ceremony will kick off on May 19, the Vice-Chancellor, Prof. Olanrewaju Fagbohun, said will feature the installation of Chancellor of the university. As part of activities lined up to commemorate the convocation is the commissioning of the some projects by the Visitor to the university and Governor of the state, Mr. Akinwunmi Ambode.

The projects are the Faculty of Science Building; Faculty of Law Twin Lecture; Theatre Building; and LASU Radio. Meanwhile, the university management has frowned at parking of vehicles at unauthorized places on campus, saying it has become an offence, which attracts stiff penalties. “Members of staff, students, the entire university community and visitors to the university are hereby informed that the indiscriminate parking of vehicles

along the roads at the Ojo main campus of the university, as well as other unauthorized places remains prohibited,” the university said in a statement. The university, however, directed that individuals should henceforth endeavour to park their vehicles at designated car parks across the university premises. Similarly, the statement added that the approved maximum speed limit for vehicles on the university campuses is 30kph, as had already been announced. Despite the fact that the directives had since been in forced, the university management noted with displeasure that many visitors and some members of the university community have continued to flout the order. “This would no longer be tolerated as the university would impound vehicles and sanction their owners appropriately.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

EDUPEACE

with Mahfouz A. Adedimeji (08066372516, sms only)  Dr Adedimeji is a Senior Lecturer and Director, Centre

for Peace and Strategic Studies, Unilorin

Character is everything

haracter is defined by the mobile “Advanced English Dictionary” as “the inherent complex of attributes that determines a person’s moral and ethical actions and reactions.” It is the ultimate goal of any education because without character, everything else is in vain. This is why Herbert Spencer noted that “education has for its object the formation of character.” It is due to the primacy of this quality that the University of Ilorin, like some other institutions, has character as its foremost focus. The motto, “probitas doctrina”, usually translated as “character and learning”, accords probity or character prominence over learning. The reason for this is not far-fetched: learning or education as a whole fails automatically when character fails. Therefore, it has to be stressed and re-stressed that in the fastpaced world we live in, character cannot be antiquated. Students especially have to appreciate that without character, they are going nowhere. If they move on, they will still be back to square one. Those who stole billions of our commonwealth yesterday are facing their well-deserved humiliation today. There is a lot of emphasis on the acquisition of degrees and certificates among us. The only snag in this emphasis is that it leads to the proliferation of containers without content; certified bigots without character. They occupy important positions in public life wreaking so much havoc that we are now branded “fantastically corrupt”, a compelling oxymoron and a point that I will return to shortly. The purpose of education is not employment, please. There is always justified lamentation about unemployment in the country but we also need to lament the absence of character in many students and graduates. In a situation where character deficiency underpins unbridled greed that drives fraud, vandalism, drug abuse and other forms of social malaise that define the Nigerian society, we only need to go back to the drawing board and find our lost soul. The power of character over material wealth was evident in the last presidential election that swept away the previous “fantastically corrupt” government. What President Muhammadu Buhari lacked in monetary terms was compensated by the totality of his character as an honest and incorruptible gentleman. Character therefore succeeded and stood rock-solid where humongous amounts of money pumped into winning an election failed and fell flat with a thud. Character is everything and everything ultimately boils down to its character. Despite the pains and challenges of everyday life in Nigeria today, there are complaints but there is no outrage. The only reason for this in my view is the

When character crowns education, success is assured character of President Muhammadu Buhari. That is why there are many unpaid analysts who often elect to glibly justify this government’s policies. Even critics often absolve him, rather preferring to blame those who have “hijacked” his government or Ministers who are not doing their jobs. At the international arena as well, the character of the President has warmed him into the hearts of many. When the Prime Minister of Britain, David Cameron, was caught on tape the other day lampooning Nigeria as a “fantastically corrupt” country, there was an instant backlash not because we are not guilty as charged but mainly because of the character of the President, especially his anti-corruption posture. The first defender was the Archbishop of Canterbury, Justin Welby. Then, the Guardian newspaper of the UK took a swipe at the Prime Minister accusing him of “epic hypocrisy” while providing details of how the British establishment aid and abet corrupt governments and individuals across the world through a number of dirty deals. It was a scathing and “fantastically correct” editorial. That character is everything would therefore provide a framework for those who worry why people offer to defend President Muhammadu Buhari. It is because of their knowledge or perception of the President as a selfless leader committed to public good despite his imperfections. Character is a shield against the arrows and shots of the enemy. This is why despite the problems, I would support this President – here, for once, is a man of unblemished character as the number citizen of our number one African country, population-wise. It doesn’t cost anyone a fortune to determine to be a person of character, despite the threats and distractions. As a matter of fact, good character can be made the cornerstone of one’s life ambition. It is really worth it because when everything vanishes, it is character that remains. To mould character, attention must be paid to at least 15 qualities in no particular order. These are truth, honesty, patience, justice, love, goodness/ kindness, respect/ humility, simplicity, discretion, self-discipline, God consciousness, competence, sympathy/ empathy, thankfulness and (spirit of) forgiveness. When character crowns education, success is assured, if not now, then later.

BUSINESS |Money Line

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

Naira recovers on parallel market

APPRECIATION Fuel hike triggered local currency’s decline

...Now N340 per dollar

Stories by Tony Chukwunyem

fter plunging to N360 to the dollar at the weekend, the naira yesterday strengthened to trade at N340 to the greenback on the parallel market. On the official interbank market, the naira was quoted at N197.50 to the dollar, near the official peg rate of N197 to the dollar. Forex dealers, who spoke with New Telegraph in Lagos, attributed the naira’s appreciation to the increase in supply of dollars by speculators who wanted to sell in order to cash in on the exchange rate volatility of the last few days. According to a Lagos-based

Bureaux De Change (BDC) operator, Mr. Joe Duru, “The naira is appreciating because there is an increase in the supply of dollars to the market. Many people who have dollars want to sell because they want to take advantage of the current high rate at which the currency is trading.” He said that although there was speculation that the Central Bank of Nigeria (CBN) is about to devalue the naira, the unexpected increase in demand for dollars late last week was too tempting for many speculators to resist. He further said, “Besides, the CBN has again denied reports that it is planning to devalue, so, speculators feel

that this is the best time to sell dollars before rates fall again.” The naira, which had generally traded flat at about N320 and N322 to the dollar on the parallel market in recent weeks suddenly began to fall against the US currency last Thursday, barley 24 hours after the Federal Government raised the price of petrol from N86.50 to N145 per litre and also announced that fuel importers were now allowed to buy dollars from non bank sources. The announcement appeared to have sent the naira tumbling against the dollar as it fell first from N321 to N345 before plummeting to N360 against the greenback last Friday. Forex dealers said the naira’s decline was as a result of

kye Bank Plc has won the best “seamless Post merger and acquisition integration in banking” award for 2016 on account of its Mainstreet Bank acquisition of December 2014 and subsequent seamless integration. The lender according to its statement, won the award at the “Commerce and Industry Awards” 2016 organised by the Lagos Chamber of Commerce and Industry (LCCI) at the weekend. Organisers of the award according to the statement, commended the bank for what it

described as the “seamless post merger and acquisition integration in banking” , saying it is a testimonial of its determination to have a broader network and channels that meet the growing financial requirements of its cherished customers. From a modest beginning in 2006, with total assets of N174 billion and shareholders’ funds of N26 billion, Skye Bank now has total assets in excess of N1.4 trillion and shareholders’ funds of N140 billion, the statement said. As a result of the acquisition of erstwhile Mainstreet Bank, Skye Bank now has

about 400 branches from a couple of branches at inception, in addition to three international subsidiaries in The Gambia, Sierra Leone and Guinea. Receiving the award on behalf of Skye Bank, the Regional Director, Greater Lagos and Ikeja, Mr Ndubuisi Osakwe, thanked the LCCI for recognisng the bank and for taking note of the efficiency, which was brought to bear in the acquisition deal. Osakwe gave assurance to the members of the public that the bank was poised to deliver better products and services to its ever loyal customers.

Economic Indicators As at N19,142,526.05m N18,579,219.49m 13.7 12 10.77 US$46.86 US$26,762,856,916

Mar, 2015 Mar, 2015 April, 2016 23/03/2016 Mar 2015 16/5/2016 13/5/2016

Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 12.50 22-JAN-2026 10.00 23-JUL-2030 12.1493 18-JUL-2034 Tenor (Days) Call 30 90 180

FGN Bonds

TTM

Price 104.54 114.58 111.91 120.62 109.79 100.32 83.54 97.16

1.06 3.23 3.86 5.81 7.94 9.80 14.30 18.29

NIBOR

Rate (%) 4.2500 8.2420 10.1127 11.7162

Bid Yield 10.45 10.54 11.61 11.43 12.23 12.43 12.49 12.54

Change (%) -0.21 ▼ -0.87 ▼ -0.90 ▼ -0.66 ▼

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲

Price 104.69 114.88 112.21 120.92 110.09 100.62 83.84 97.46

Tenor (Months)

Treasury Bills

Offer Yield 10.30 10.44 11.52 11.36 12.18 12.38 12.44 12.50

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲

NITTY

Rate (%) 5.1731 6.4137 7.3300 8.8857 9.6247 10.5416

1 2 3 6 9 12

Change (%) -1.82 ▼ -0.82 ▼ -0.75 ▼ -0.32 ▼ 0.04 ▲ 0.04 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 7.34 7.47 -0.35 ▼ Open-Buy-Back (OBB) 3.75 30-Jun-16 7.59 7.73 -0.35 ▼ 6-Oct-16 8.37 8.12 8.47 -0.24 ▼ Overnight (O/N) 4.25 8.74 -0.24 ▼ 16-Mar-17 9.40 10.32 0.04 ▲ 9.15 10.02 0.04 ▲

Spot($/N)

Bid 199.14

Offer 199.24

Change (%) 0.00 ↔

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of January 7, 2016 Spot($/N)

196.00

197.00

0.00 ↔

an increase in demand for dollars by oil importers and speculation of CBN’s moves to make the exchange rate more flexible. Commenting on the development, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadebe, said, “More speculators are taking a position in the market, causing dollar scarcity and fall in the value of the local currency.” Last Wednesday, the Vice President, Professor Yemi Osinbajo, told a business conference in Lagos that Nigeria

Offer 199.1000

Change (%) -0.08 ▼ -0.08 ▼

Change (%) 0.00 ↔

needs a “substantial” review of its foreign exchange policies and will see very soon a more flexible approach. He said he hoped to persuade the CBN to change some policies to improve foreign exchange supply, as current supply management is not working well. “We believe there must be some substantial revaluation for the foreign exchange policy,” Osinbajo was quoted as saying, adding that this would help boost foreign exchange supply and encourage capital inflows and a free flow of remittances,” he said.

CBN issues national banking licence to Jaiz bank Abdulwahab Isa Abuja

Skye Bank bags M & A integration award

M2* CPS* INF MPR 91-day NTB Bonny Light Ext Res**

aving operated for three years as a regional bank, concentrating largely on the Northern part of the country, Jaiz Bank plc has been issued a national licence, as Nigeria’s first non-interest bank by the Central Bank of Nigeria (CBN). The banking watchdog’s national licence permits the bank to expand its presence to all 36 states of the Federation in addition to the Federal Capital Territory (FCT). The Chairman, Board of Directors of Jaiz Bank plc, Alhaji Umaru Abdul Mutallab, according to a statement, confirmed the new banking status yesterday in Abuja when he led board members of the bank on a courtesy visit to Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar to brief him on the activities of the bank. “Your eminence we are here to brief you on the activities of Jaiz Bank, which started operation some three years ago as a regional bank, and to inform you that just last Thursday, Central Bank of Nigeria (CBN) granted it a national licence au-

thorising it to operate from any part of the country”, he said. Alhaji Mutallab said that apart from the Jaiz bank plc, there are three other subsidiaries within the group, namely Jaiz Takaful (insurance) and Jaiz Charity Foundation and Development. He solicited the support of the Sultan in the bank’s quest to attain its maximum banking height adding,” Jaiz bank is a non- interest bank that cater for all Nigerians both the Christians and Muslims”. On Jaiz Takaful insurance (an Islamic insurance firm), he said unlike the conventional insurance company that pays claims on risk maturity, the Islamic Takaful insurance will treat all policy holders as shareholders of the firm in addition to paying claims. Responding, His Eminence, the Sultan, Abubakar Sa’ad congratulated the board on achieving its set target. “I can remember some years back, I challenged the Muslim ummah to come together to ensure this bank takes off. This is a special type of bank that operates with ethics and morality. The challenge of getting a national licence is over, the real problem starts now”, he said.

Non-payment of taxes: FIRS seals another Abuja firm

he Federal Inland Revenue Service (FIRS) has continued with its ongoing enforcement of tax payment, sealing off the office premises of Tak Continental Group in Abuja over the company’s failure to pay taxes amounting to N276, 378, 212.45 million. According to a statement issued by the FIRS, the tax liability is made up of Company Income Tax (CIT) Education Tax, Value Added Tax (VAT) from 2008 to 2010. A director of the company, who declined to identify himself, claimed he had no information on the firm’s tax liability. He subsequently agreed to order the staff home to enable him get information about the tax debt. Consequently, the FIRS team, led by Miss Ruth Maundeun, ordered the staff out of

the office and sealed the office, which, she said will not be reopened until the company pays the entire tax liability. In Lagos, the FIRS team visited the office of Boron Oil and Gas, located at Plot 15 Henry Ogbogbo Crescent, Lekki. However, the company’s office was not shut. Mr. Emeka Obiagwu, leader of the enforcement team, explained that the company was not sealed because it already has an arrangement with the tax office to defray its N259 million tax liability. According to Obiagwu, the arrangement involves payment in installments. The company, he explained, attempted to pay N40.2million last Friday, but was thwarted by hitches in the banking transaction. Obiagwu said the team saw correspondences between the company and its bank as regards the failed transaction.

TUESDAY, MAY 17, 2016 NEW TELEGRAPH

BUSINESS | Financial Market News FMDQ Daily Quotations List

16-May-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

581.39 480.13 20.00 100.00 300.00 351.30 233.90 584.43 605.31 719.99 286.02 75.00 150.00 200.00 591.57 1075.92 105.00

TOTAL OUTSTANDING VALUE

6,459.96

TOTAL MARKET CAPITALISATION

6,120.52

Rating/Agency

Description

Issuer

Maturity Date

TTM (Yrs)

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.25 0.95 1.20 1.29 2.04 3.12 3.44 3.74 5.70 7.83 9.69 12.53 13.01 13.51 14.18 18.17 19.84

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

8.07 12.11 12.49 12.57 13.17 14.05 14.09 14.15 14.22 14.28 13.90 14.01 14.03 14.05 14.08 14.23 14.09

7.49 11.94 12.35 12.43 13.08 13.93 13.96 14.04 14.15 14.21 13.84 13.96 13.98 13.98 14.02 14.18 14.04

101.17 102.58 97.11 96.24 95.69 104.75 81.18 103.88 108.21 99.58 92.63 105.75 90.89 66.80 75.20 86.51 88.75

101.32 102.73 97.26 96.39 95.84 105.05 81.48 104.18 108.51 99.88 92.93 106.05 91.19 67.10 75.50 86.81 89.05

6414.957269

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.46

2.94

12.84

101.90

30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.12 0.12 0.93 0.65 1.63 1.44 1.45 1.42 1.42 1.61 2.03 3.52 1.99 4.53 4.63 2.66 2.69 3.97 3.47 3.50 4.03 6.46 3.59

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

10.43 9.45 13.02 16.58 15.23 13.69 13.70 16.49 16.23 16.64 15.18 16.12 14.13 15.48 17.94 16.21 14.70 15.55 18.11 15.11 16.64 16.02 17.16

100.37 100.67 97.42 98.31 98.24 100.35 100.34 97.63 97.33 98.42 100.47 95.77 101.00 93.71 90.95 96.55 100.57 99.85 96.11 103.43 102.09 103.59 99.60

29-Sep-16 25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 06-Nov-20 14-Nov-20 04-Dec-20 20-Nov-21 30-Dec-21 13-May-22 26-Oct-22 30-Sep-24 30-Sep-24 29-Jul-30

0.37 0.44 0.56 0.93 1.14 1.37 0.83 1.15 1.32 1.32 2.37 1.42 1.50 1.63 2.48 4.50 3.00 5.51 5.62 5.99 4.16 8.37 8.37 9.50

1.00 1.34 1.00 5.49 5.25 1.88 1.88 3.15 6.35 1.00 1.17 4.42 6.11 3.28 4.47 1.00 3.55 2.51 1.00 1.00 2.77 1.00 1.00 1.00

10.12 11.10 11.52 17.51 17.69 14.51 13.50 15.60 18.94 13.59 14.61 17.09 18.85 16.12 18.00 15.18 17.50 16.73 15.22 15.23 16.93 15.17 15.17 14.94

100.96 101.29 102.35 99.13 98.75 98.14 104.17 100.34 98.86 102.67 98.76 98.34 98.90 99.78 94.47 100.23 95.58 91.30 104.49 104.80 97.37 105.17 91.03 99.85

10-Oct-20

2.52

3.37

16.93

95.78

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.22

Sub-National Bonds BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14 21.68 12.55 80.00 21.65 87.50 5.00 4.03 4.04 14.37 4.39 4.53 27.10 3.00 7.68

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

446.12 434.65

Corporate Bonds A+/Agusto; A-/GCR A-/Agusto Nil Nil Nil A/GCR BBB-/GCR Nil A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR A+/Agusto; A-/GCR Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR Bbb/Agusto; A-/GCR A/GCR A/GCR AAA/GCR

NAHCO FSDH ***LCRM UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} *FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

29-Sep-11 25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 06-Nov-15 14-Nov-13 04-Dec-15 20-Nov-14 30-Dec-14 13-May-15 26-Oct-15 30-Sep-14 30-Sep-14 29-Jul-15

13.00 14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.00 15.25 15.50 14.25 16.45 16.48 16.00 16.29 13.25 14.90

15.00 5.53 112.22 116.70 66.49 20.00 0.46 3.60 1.82 0.50 35.00 1.50 0.27 4.50 20.87 2.05 9.76 26.00 30.50 30.00 10.00 0.10 15.44 7.90

TOTAL OUTSTANDING VALUE

536.21

TOTAL MARKET CAPITALISATION

533.70

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.40

TOTAL OUTSTANDING VALUE

9.40

TOTAL MARKET CAPITALISATION

9.01

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.74

1.00

12.34

96.70

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.96

1.00

13.37

95.06

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 23.91 Description

Issuer

Issue Date

Outstanding Value ($’mm)

Coupon (%)

FGN Eurobonds

Prices & Yields

BB-/Fitch; B+/S&P BB-/Fitch; BB-/S&P

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.15

6.94

98.40

99.23

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.37

4.93

99.49

100.39

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.43

7.27

94.23

95.08

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,460.61

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

373.41

19-May-16

195.31

-119.37

99.46

100.37

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.42

7.20

98.69

100.04

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

21.07

19.69

78.00

79.85

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.18

97.38

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.62

93.97

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

17.78

17.01

79.63

81.15

B-/Fitch; B/S&P B-/Fitch; B/S&P B-/Fitch; B/S&P

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

13.73 13.89 14.56

82.25 83.00 76.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

Outstanding Value (₦’bn)

Maturity Date

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

2.77

29-Jul-16

6.18

13.46

13.10

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,523.41 3,102.35 Description

Issuer

Issue Date

Yield @ Issue (%)

04-Nov-15

13.75

Commercial Papers Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

TOTAL OUTSTANDING VALUE

2.77

**TREASURY BILLS^ DTM 10 17 24 31 38 45 59 66 73

FIXINGS Maturity 26-May-16 2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16 30-Jun-16 14-Jul-16 21-Jul-16 28-Jul-16

Bid Discount (%) 3.16 4.90 5.01 5.23 5.20 5.06 6.65 7.08 7.66

Offer Discount (%) 2.91 4.65 4.76 4.98 4.95 4.81 6.40 6.83 7.41

Bid Yield (%) 3.16 4.91 5.03 5.25 5.22 5.09 6.73 7.17 7.78

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.3750 9.9705 12.3647 13.9290

Rate (%)

OBB

10.00

O/N

10.50

Tenor Call 1M 3M

REPO

Rate (%) 10.00 9.92 10.33

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M 6M

197.33 199.15 199.70 201.04 201.97 206.65 214.98

197.43 199.66 200.03 201.46 202.26 207.07 215.77

13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

TUESDAY, MAY 17, 2016 NEW TELEGRAPH TOTAL OUTSTANDING VALUE