THEWILL NEWSPAPER, July 28 2024

Digital

OnahNwachukwu Editor, THEWILL DOWNTOWN

The hospitality industry has grown tremendously to become a sector that is boosting the nation’s economy. This sector, which was mostly male-dominated, is now seeing more women take the reins in senior positions. One such woman is Dupe Olusola, the Managing Director and CEO of Transcorp Hotels Plc. Olusola began her career as the Head of Marketing at United Bank for Africa (UBA). She then transitioned to agribusiness as the Managing Director and CEO of Teragro Commodities Limited before being appointed as the Managing Director and CEO of Transcorp Hotels. She is the second woman to hold this position. Dupe Olusola’s hard work is evident in the awards she has received. One is the prestigious Hospitality Leadership Award by the Africa Hospitality Investment Forum (AHIF) in Windhoek, Namibia. She was also appointed to the Africa Advisory Board of Save the Children United Kingdom.

Olusola’s inspiring story is on pages 8 through 10 of this week’s magazine.

Our beauty page is a treasure trove of knowledge, delving into the nuances of skincare. We discuss the differences between bar soap, body wash, and shower gel, and suggest which one is best suited for different skin types. This insightful guide, found on pages 12 and 13, will empower you to make informed choices for your skincare routine.

We frequently become so engrossed in our relationship that we neglect our personal needs. Downtown Confidential highlights the importance of self-care as an essential component of any happy relationship. See page 15.

The QR code on the cover of the magazine allows you to download the latest copy of the magazine.

Don’t forget to click on the instructions below the QR codes on page 16 to download this week’s playlist.

Until next week, enjoy your read.

OnahNwachukwu

@onahluciaa +2349088352246

Photo:

Kola Oshalusi

@insignamedia Makeup: Zaron

A LITMUS TEST FOR SECURING NIGERIA'S ENERGY NEEDS

Inside Dangote's Oil War With Vested Interests

BY SAM DIALA

For a country grappling with an energy crisis that spans over two decades, the coming of Dangote Refinery offers the much-desired hope. In that regard, when Aliko Dangote, President/CEO of Dangote Group, operators of Dangote Petroleum Refinery and Petrochemical Limited in Lagos, expressed ‘regrets’ for investing in the behemoth project without really knowing what it entailed and against the advice of trusted associates, there are reasons for concern.

In an interview broadcast on CNN last June, Dangote said he would not have delved into the gigantic project if he had known what it entailed. He also revealed at another forum that a close friend advised him against building the facility in Nigeria. But he went ahead to construct the largest single train refinery in the world, which is now being threatened by calculated sabotage and undermining activities from the regulatory authorities and other industry players.

EARLY SIGNS OF TROUBLE

Early signs of trouble emerged when a rumour began to make the rounds that the host community planned to demand adequate compensation for their land acquired by Dangote as part of the government incentives to invest in the Export Processing Zone. But Dangote has dismissed the rumour frontally, explaining that the refinery does not sit on any land acquired freely.

Addressing journalists at his refinery recently, Dangote maintained that the facility was not built on free land nor did the Federal Government extend any ‘incentive’ to the group. He said, “In building the refinery, we did not collect one single incentive from the Federal Government of Nigeria. Although the Lagos State Government gave us a good deal, we paid $100 million for land. It was not free land; we paid for it.”

A prominent figure had hinted at a public forum that the community would ask questions about their land acquired by Dangote in due course. This heightened speculation that the facility was headed for troubled days ahead. Then came the interventions of the regulator.

UNSEEN HANDS OF FATE

Initially, Dangote Refinery suffered many years of missed completion dates. Although plans for the project were unveiled in 2013, the history of Dangote Refinery began with actual construction on the site in 2017 when the refinery cost was put at $9 billion. Earlier in 2013, there were assurances that production would start in 2016, but the date was later moved to 2018.

During this period, the cost of building the refinery ($10 billion), together with the fertiliser plant ($2.5 billion) and pipeline components ($2.5 billion) had jumped up to $15 billion. By 2024, the refinery was said to have cost $20 billion to build, up from $19 billion as of December 2023.

At each stage of waiting and working, Nigerians were assured that Dangote Refinery would terminate the country’s shameful, endless reliance on imported refined petroleum products. This has been the gold mine for the notorious cabal that have held Nigeria hostage by ensuring that the local refineries remained unproductive.

This, perhaps, explained why Nigeria’s four refineries have remained dormant for over two decades despite – consuming over N11 trillion in 10 years, according to the Senate during plenary about a year ago.

The upper legislative chamber on October 24, 2023 constituted an ad-hoc committee to investigate all contracts estimated at over N11.35 trillion awarded for the rehabilitation of the four moribund refineries in the country. This followed a motion on the unending repairs of the nation’s refineries despite the huge resources invested in fixing them proposed by Senator Sunday Karimu.

Karimu had said, “We are concerned that the Federal Government of Nigeria has carried out rehabilitation projects in Port Harcourt Refinery Company (PHRC) over a period of seven (7) years from 2013-2019 at an estimated cost of N12,161,237,811.61.

“In addition, on the 18th March 2021, a rehabilitation contract was executed between NNPC/PHRC and Tenenimont SPA at a lump sum of $1,397,000,000.00… amidst global public criticism, no result has been achieved.”

It is on record that one of the NNPC subsidiaries, Port Harcourt Refining and Petrochemical Company (PHRC), employed 487 new staff four years ago and paid N23 billion in salaries without producing one litre of petrol.

Nothing has come out of the Senate probe as at date. This is part of the ugly narrative Dangote Refinery aims to terminate.

DANGOTE’s ANGST

Speaking at the Africa CEO Forum Annual Summit held in Kigali, Rwanda, on May 17, 2024 Aliko Dangote said Nigeria, and indeed West Africa, could get all of their needs for diesel, aviation fuel and gasoline from his refinery as early as June 2024, with a daily capacity of 650,000 barrels.

This revelation, which drew a loud ovation from the audience, must have been received with a pinch of salt at home when he argued that African governments had not built a single refining facility in the last 35 years because of the people benefitting from massive fuel imports into the continent.

In a clip from an interview conducted by CNN’s Eleni Giokos, Dangote stated that although he had gained plenty of experience from building the $19 billion refinery, he would have a rethink if he knew beforehand the huge challenge with building such a facility on the continent.

“There are so many issues. I can’t count them, but there are so many. It’s not only money, a lack of political will and the people who are benefiting from this whole stuff of importing petroleum products into Africa are actually discouraging those governments from building a refinery,” he said.

He argued that foreign aid and investments will not build Africa, explaining that Africans will have to develop the

...Oil War With Vested Interests

continent on their own. He explained that he had to dredge a lot of sand, over 65 million tonnes, before work could start on the project, part of which was responsible for the prolonged start-off date.

CHALLENGES

REGULATOR-INDUCED

A cloud of uncertainty began to emerge when on July 19, 2024, news emerged that the Federal Government had said the country would continue to import refined petroleum products to ensure that Dangote Refinery did not have a monopoly that could affect the country in the long run.

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), Farouk Ahmed, had said that Nigeria could not depend on one refinery to feed the nation, adding that Dangote Refinery’s quest that all oil marketers should buy products from the plant does not support competition.

In a dramatic twist, Ahmed told journalists in Port Harcourt that Dangote Refinery’s diesel, much as the diesel from modular refineries like Waltersmith and Aradel, has high sulphur levels, which could cause harm to vehicle engines and damage the human biosphere – the interdependent atmospheric conditions that support all life.

This unproven declaration by the agency of government contradicts the results of tests of diesel products imported into the country by the regulator, which were done in the presence of the leadership of the house of representatives at the sophisticated lab of the Dangote refinery recently. The tests proved the imported diesel products were of very poor quality and that diesel from the Dangote refinery are superior and better for engines.

Industry watchers considered the statement a curious counter to the views of Aliko Dangote, who had assured that Nigeria, and indeed West Africa, could get all of their need for diesel, aviation fuel and gasoline from his refinery.

Nigerians also took exception to the attitude of the government regulator which aimed at de-marketing the new refinery, validating Dangote’s claim that there are powerful cabals who are bent on ensuring that Nigeria’s thirst for imported petroleum products is not quenched by building local capacity.

STUNNING DROP IN FG STAKE

Perhaps, of greatest concern to Nigerians was the revelation by Aliko Dangote that Nigerian National Petroleum Company (NNPC) Limited now owns a 7.2 per cent stake in the Dangote Petroleum Refinery, and not a 20 per cent stake as initially announced before the inauguration of the facility at the Lekki Free Trade Zone.

Dangote, who made this known at a press briefing said NNPC’s stake dropped to 7.2 per cent over the company’s failure to pay the balance of their share, which was due in June. The NNPC had acquired a 20 per cent interest in the $20bn Dangote Refinery for $2.76 billion.

“NNPC no longer owns a 20 per cent stake in the Dangote Refinery. They were meant to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2 per cent stake in the refinery,” Dangote said.

The NNPC confirmed the development in a statement. “NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals. The decision to cap its equity participation at the paid-up sum was made and communicated to Dangote Refinery several months ago,” said Olufemi Soneye, spokesman for the company.

THEWILL could not confirm NNPCL’s claim that it notified Dangote “several months ago” of its decision to scale down its stake in the refinery from 20 per cent to 7.2 per cent as Dangote Refinery did not respond to an enquiry to this effect.

In August 2023, NNPC disclosed that it had borrowed $1.036 billion to acquire 20 per cent stake in Dangote Refinery for $2.76 billion through a $1.036 billion funding from Lekki Refinery Funding Limited of which $1 billion was paid to Dangote Refinery and $36 million was for transaction costs.

Data from NNPC Ltd’s audited financial report for 2022 showed the state-owned company pledged 35,000 barrels of crude oil per day (bpd) as repayment for the loan. Aside from these 35,000 forward sales, the NNPC also has a 90,000-bpd oilfor-debt financing deal of $3.3 billion with Afreximbank

SERIAL BACKLASH

Industry watchers believe that the series of revelations from Dangote must have upset the government and NNPC, prompting the rift that has now gone viral on social media. Moreover, the attempt by the NMDPRA boss to de-market Dangote sparked public outrage, forcing Mr. Dangote himself, a man not known for many words, to react.

Dangote tongue-lashed NMDPRA, describing it as a regulator without a laboratory to test the “inferior” quality petroleum products that they strategically import from a blending facility in Malta in which some Nigerians are involved.

Addressing a delegation of the House of Representatives, led by the Speaker, Tajudeen Abbas, on July 20, who were on a familiarisation visit to the Dangote refinery and Petrochemicals Company, in Lagos, a very livid Mr. Dangote condemned the campaign of calumny against his company by those he accused of not telling Nigerians the truth about the situation.

He said, “Another complaint I heard, which I think the Rt. Hon Deputy Speaker also raised was, ‘why did we drop the price of diesel, is it because of the bad quality we produce?, I said no.”

Insisting that Dangote Refinery was producing a better and top quality fuel than what was being imported, he said to Rt. Hon Abbas, “I am sure, your excellency, sir, that most of you have problems with your vehicles, It is either you had or you are still having the problems. It is because of the bad fuel that they are importing into the country.

“I still stand by what I said. Go to the petrol filling stations. You can pick up, or you can check the quality. That is the only way. Someone will bring in a ship and present a fake certificate. When we go ahead, we will say more. We know where they blend these things.

“Some NNPC people and some traders have opened a blending plant somewhere off Malta. We know all these areas; we know what they are doing. It is not that I do not know. I have been fighting all my life I am a very fearless person.

“I believe so much in God and I do not fear anybody. They can do whatever they want. I am not scared, I will fight head-on.”

REACTIONS

Reacting to the development, the President of the African Development Bank (AfDB) Akinwunmi Adesina faulted the claims of “monopoly” against the chairman of the Dangote Group Aliko Dangote.

Dangote

is thoroughly shocked and shaken, right now. He must be feeling that his romance and enjoyment days with the likes of Buhari and Emefiele, are over. He must definitely be feeling or suspecting that a new gang or cartel is out to deal with him and bring his business empire down, nocturnally, under PBAT,” Bala said in a note to THEWILL

He said: “Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refinery?” he wrote in a post on his X handle on Tuesday.

“In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal. No smart investor would make a $19.5 billion investment and want it to be undermined by importers.

“To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem.

“Competition is good for everyone. But is Dangote Refinery anti-competitive? What is the evidence? Has Dangote Refinery prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades? Was it Dangote that held them back?

“But Dangote Refinery surely cannot be asked to ‘compete’ with importers of petroleum products. That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.”

Oil and Gas expert, Engr Bala Zaka, said the attacks on Dangote will have a negative impact on his determination to contribute to the growth of the economy.

“Dangote is thoroughly shocked and shaken, right now. He must be feeling that his romance and enjoyment days with the likes of Buhari and Emefiele, are over. He must definitely be feeling or suspecting that a new gang or cartel is out to deal with him and bring his business empire down, nocturnally, under PBAT,” Bala said in a note to THEWILL.

“It is obvious to me that certain interests have been adversely affected thus these external communication that the public is now privy to.

“I will wait and see how the financiers resolve this matter as they stand to lose too much if the Refinery production is delayed any further”, said Engr. Ibilola Amao, a finance expert.

The Northern Elders Forum (NEF) has warned government officials and other Nigerians against attacking the Dangote Refinery and its Chairman, Aliko Dangote, to desist from such actions.

The northern elders issued the warning in a statement signed by Convener Professor Ango Abdullahi.

The forum condemned the attempts to demarket the refinery, which NEF said is capable of saving the country from continued importation of refined petroleum products.

The statement said, “The Northern Elders Forum (NEF) is watching with sustained interest the unfolding drama being orchestrated by some powerful vested interests to frustrate the good example set by the nation’s leading investor and foremost African entrepreneur, Alh. Aliko Dangote, who has defied all formidable odds to build a privately-owned world-class, ultramodern petroleum refinery in Nigeria.

“Dangote refinery, which is reputed to be the biggest singletrain refinery in the world, is a technological marvel that showcases the most advanced innovation in the trade field and is also a symbol of our national pride.

“This remarkable business feat, which ordinarily should instantly earns him national encomiums and accolades, has paradoxically ignited the malicious fury of enemies of our dear country, who are strategically located in the oil and gas sector of the economy.

“Nigeria became the object of global ridicule, as we are the only OPEC member nation without refining capability and heavily dependent on mass importation of oil and other derivatives,” the statement said.

The forum noted that Nigerians, who bear the brunt of escalating fuel prices and shortages, will no longer allow a few individuals to hold the economy hostage. It commended the Minister of State for Petroleum Resources, Mr. Heineken Lokpobri, for his timely action to address the situation.

The forum stated its determination to stand with Aliko Dangote in defence of the refinery.

L-R: INEC Chairman, Prof. Mahmood Yakubu; INEC National Commissioners, retired Maj.-Gen. Moddibo Akali and Ukeagu Kenneth, during their meeting with the Joint Committee on Electoral Matters, at the National Assembly Complex in Abuja on July 25, 2024.

IGP Asks Leaders of Planned Protest To Submit Details

BY FELIX IFIJEH

The Inspector-General of Police (IGP), Kayode Egbetokun, has urged leaders of all groups planning to participate in the proposed nationwide protest to submit their details to the Commissioners of Police in their respective states.

Tagged #EndBadGovernance protest, the planned action has been scheduled to be held across all states of the Federation, as well as the Federal Capital Territory (FCT), Abuja, in August. The organisers of the protest have been faceless.

Speaking with newsmen in Abuja on Friday, the IGP said intelligence reports indicate the involvement of foreign mercenaries in the proposed nationwide protest. He urged Nigerians to exercise caution and reconsider before joining any protest group.

He said, "We have been monitoring development surrounding protest threats. While some groups call for violent protests, emulating Kenya’s recent events, others advocate for peaceful demonstrations.

“However, some individuals promote peaceful protests with violent undertones, raising concerns about their sincerity. We have our history of violent protests in Nigeria and I don’t believe we have to look to other countries to note the dangers of unchecked demonstrations. We commend patriots, who have withdrawn from the protest due to the apparent sinister motives and ignorance of those calling for violence.

“We note those who have spoken out against any form of protest at this critical juncture, fearing enemies of our country may be manipulating the process. We confirm their fears are genuine, as we have credible intelligence on foreign mercenaries’ involvement in this planned protest. The Nigerian police urge all Nigerians to exercise caution and think twice before joining any protest group

“We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest. However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place. To facilitate a successful and incident-free protest, they should please provide the following information.

“1. We want to know the proposed protest routes and assembly points. 2. Expected duration of the protest. 3. Names and contact details of protest leaders and organisers

“4. Measures to prevent hijacking by criminal elements, including key identifiers for possible isolation of potential troublemakers. By providing this information, the police will be enabled to deploy adequate personnel and resources to ensure public safety. 5. Designate specific routes and areas for the protest to avoid conflicts with other events or activities.

Bayelsa to Set up NIN Registration Centres in 32 RDAs

BY AMOS OKIOMA

The Bayelsa State Government has indicated its preparedness to work closely with the state office of the National Identity Management Commission (NIMC) to open more data capture and registration centres in the state.

The Deputy Governor, Senator Lawrence Ewhrudjakpo, gave the indication at the weekend while granting audience to the State Director of the NIMC, Mr. Stephen Inokoba, and other staff of the Commission in Government House, Yenagoa.

The Deputy Governor, who applauded the high sense of patriotism and responsibility displayed by the State Director and his team, said the government would partner with the NIMC at the state level to create more NIN registration centres in all the local governments and rural development authorities (RDA) headquarters.

According to him, creating such centres will ensure wide coverage and eventual success of the registration exercise in all parts of the state, including far-flung rural communities of Bayelsa.

He described as unfair and unacceptable the closure of several NIN registration centres across the state, making Bayelsa the only state with less than one million people registered so far on the NIMC database.

Senator Ewhrudjakpo debunked the notion that Bayelsa was the smallest state in the country, noting that the landmass and natural endowments of the state had strategically positioned it as a big state in the federation.

His words: "We salute and appreciate your good sense of patriotism and responsibility towards your people, the people of Bayelsa, so that they are not left out. Thank you for the commitment you have shown.

"Bayelsa deserves a better deal. We are ready to collaborate with you to open more NIN registration centres in all the 32 RDA headquarters, including the eight local government headquarters, and in some populous communities in the rural areas.

"Jointly, we will do this together. By next week, I will meet with the local government chairmen and their RDA counterparts. We are going to spare no effort to ensure that we change the erroneous impression that Bayelsa is a small state."

In his remarks, the State Director of the NIMC, Mr. Stephen Inokoba, revealed that the total number of persons registered in Bayelsa was less than a million mainly due to ignorance and apathy on the part of the people.

According to Inokoba, several NIN registration centres had been closed down in the state with the registration equipment redeployed to other states before his posting to Bayelsa.

The Oyo State Post Primary Teaching Service Commission, TESCOM, has revised the timetable for the Computer-based tests coming up next week.

The development came on the heels of the envisaged nationwide protest that may commence on August 1, 2024.

Recall that the Chairman TESCOM, Pastor Akinade Alamu, in Ibadan, announced that the CBT examination for job seekers was fixed for July 29- August 2, 2024.

Pastor Alamu however said to forestall any unforeseen circumstances, the Commission and its partnering agencies, including the management of the University of Ibadan DLC, agreed to compress the examination days to three.

He therefore announced that the examination will commence on Monday, July 29, 2024- July 31, 2024.

Akinade Alamu maintained that all arrangements have been made, with relevant stakeholders, adding that the change will not pose any threat to the candidates.

He added that the management of DLC agreed to provide more facilities, men and logistics to the already provided support.

The TESCOM chair said: "After a tripartite meeting among all relevant stakeholders, DLC has agreed to provide more halls, Computers, facilities, so that the test can spread across three days."

He therefore appealed to candidates to regularly check their phones, as texts and emails are being sent to them already.

Alamu stressed that the revised timetable is on the Oyo State job portal.

The scheduled days and examination are:

Monday: Biology, Islamic Religion Studies, Christian Religious Studies, Literature in English, Mathematics, French, Commerce, Chemistry and Business Studies.

Tuesday: English Language, Finance and Accounting, Government, Economic, Computer Science, Guidance and Counselling, Physics and Music.

Wednesday: Agricultural Science, Arabic Studies, Social Studies, Business Science and Technology, Technical Drawing, Fine Arts, Yoruba, Geography, History, Home Economic and Nutrition, and physical health education.

L-R: Minister of State for Housing and Urban Development, Abdullahi Tijjani-Gwarzo; Chairman, Senate Committee on Housing, Lands and Urban Development, Aminu Tambuwal and Minister of Housing and Urban Development, Ahmed Musa-Dangiwa, during oversight visit of the Committee to the Ministry in Abuja on July 25, 2024.

NEWS

#EndBadGovernance Protest: US Issues Security Advisory to Nationals in Nigeria

BY FELIX IFIJEH

Head of the planned nationwide protest in Nigeria, the United States Government has issued a security advisory to its Nationals in the Country.

Tagged #EndBadGovernance protest, THEWILL reports that the planned demonstration has been scheduled to be held across all states of the Federation, as well as the Federal Capital Territory (FCT), Abuja.

However, the Federal Government has deployed a series of diplomatic measures to avert the planned protest. However, the United States Government through its Mission in Nigeria, said based on past occurrences that the “protests may involve roadblocks, checkpoints, traffic congestion, and physical confrontations.

Noting that no specific times or locations have been identified for potential protests, the United States Government advised its nationals in Nigeria to monitor local media for updates.

Titled: "Potential Nationwide Protests", the advisory reads, "According to media reports, nationwide protests may occur in Nigeria between July 29th and August 5th, 2024. Based on past occurrences, protests may involve roadblocks, checkpoints, traffic congestion, and physical confrontations. No specific times or locations have been identified for potential protests at this time.

"Actions to take: Monitor local media for updates, Avoid crowds, Avoid demonstrations, Be aware of your surroundings, Review your personal security plans and keep your cell phone charged in case of emergency, Carry proper identification.

"The Consular Sections of Embassy Abuja and Consulate General Lagos will remain open during regular business hours and Consular services will be provided as scheduled."

Senate Consultant Scores Alia, ALGON High on Projects Execution

The Consultant for the Senate Standing Committee on States and Local Government Administration, Engr. Kayode Adebayo, has praised Benue State Governor, Hyacinth Alia, for the purposeful leadership that has led to the transformation of local government councils in the state in the past one year. He described the quality of work done so far at the ongoing construction of the Association of Local Government of Nigeria (ALGON) House in Benue State as fantastic.

According to him, the uncommon and proactive leadership disposition of Governor Alia, who has the plight of the Benue masses at heart, has endeared the people to his administration. Adegbayo made the remarks while fielding questions from Journalists shortly after he was led by the Special Adviser to the Governor on Local Government and Chieftaincy Affairs, Hon. Dr. Dennis Akura, to inspect the ongoing work at the ALGON House, Makurdi, on Friday.

"I'm in the State to go round the 23 local government areas and assess the projects being executed by the local government councils with the aim of awarding those that have performed well at their respective councils,” he said. According to him, the Senate Committee on States and Local Government Administration, under the leadership of Senator Binus Yero, is committed to ensuring that the right thing is done at the third tier of government in all States of the federation.

He commended the Special Adviser, Hon. Akura, for bearing his wealth of experience as a former council chairman on his new job for the overall good and development of the State, saying Governor Alia did not make a mistake in his appointment as Special Adviser. He stated that the project, on completion, will improve the Internally Generated Revenue of the local government areas and money generated can be channelled to ventures that would create employment opportunities for the teaming youths at the grassroots areas.

"The vehicles and motorcycles procured by Councils for onward distribution to council wards across the State to enhance security at the local government is one major achievement worthy of commendation,” he stated. Earlier, Dr. Akura expressed satisfaction with the visit of Engr. Adebayo to the State and promised an enabling atmosphere for their oversight. The Adviser explained that Governor Alia had granted financial autonomy to local government councils as soon as he took the mantle as the State leader a year before the Supreme Court verdict. He said the Governor has achieved at the local government level, under his strict supervision, the prompt payment of workers’ salaries, pensions and gratuities.

He disclosed that the ALGON House project being sponsored by council chairmen was to compliment the good work the Governor is doing in the State. In his remarks, the ALGON Chairman and Chairman of Konshisha Local Government Council, Mr. Philip Achwua, thanked the Consultant and his delegation on the visit and promised to give them the desired cooperation to succeed in their assignment. He pledged, on behalf of his colleagues, to always ensure the prudent application of the lean resources accrued to them on projects that are beneficial to the masses at the grassroots.

Tinubu Mourns Senator Ifeanyi Ubah

President Bola Tinubu has extended his condolences to the family of the late Senator Ifeanyi Ubah. THEWILL had reported earlier that Ubah, the Senator representing Anambra South Senatorial District, died on Saturday morning in a London hospital three days after arriving in the UK from Abuja on holiday.

Senate spokesperson, Yemi Adaramodu, who confirmed the death, said Ubah, who was Chairman of the Senate Committee on Petroleum Downstream, was in London to attend his son’s graduation. Morning the renowned businessman and politician, President Tinubu, in a condolence statement issued through his Special Adviser on Media and Publicity, Ajuri Ngelale, commiserated with the friends and colleagues of the late Senator, the National Assembly, and the government and people of Anambra State over this sad loss. He prayed for the repose of the soul of the departed lawmaker, as well as for strength and comfort to his family.

Ubah

POLITICS

#endbadgovernanceprotest: FG Winning The Mind Game

BY FELIX IFIJEH AND ANTHONY AWUNOR

For a better part of last week, it looked like the organisers of the end bad government protest scheduled for August 1 to 10, 2024, were winning the mind games until Thursday and Friday when the tide began to turn, courtesy of the ongoing lobbying and mobilisation of relevant stakeholders across the country by the Federal Government.

Following a meeting with state governors, traditional rulers, religious leaders and youth groups, President Bola Tinubu has been able to set the pace in dousing tensions generated by the fear of the upcoming protests. A fortnight ago, members of the House of Representative offered to slash their monthly salaries by 50 per cent for six months as a direct response to the demand of the protesters for good governance, amid the cost of living crisis following the sudden removal of subsidy on petrol and floating of the Naira. President Tinubu contends that Nigeria is working under his administration.

Speaking with traditional rulers led by the Sultan of Sokoto, Muhammad Sa’ad Abubakar III and the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, at a meeting held at the Presidential Villa and attended by the National Security Adviser, Mallam Nuhu Ribadu; the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, the Minister of Budget and Economic Planning, Mr Abubakar Atiku Bagudu, and the GCEO of NNPCL, Mele Kyari, the President, said, “Yes, I indeed asked for this job and I approached some of you to support me. So, I have no excuse not to do the job with sincerity, purpose and honesty. I have committed myself to it diligently and I will never look backwards.” He said he had been busy working “to take Nigeria forward and bring government nearer to the people through programmes, such as activation of the student loan programme, the consumer credit scheme and the affirmation of fiscal autonomy for local government councils. Others are the reactivation of the Bank of Agriculture to fund agriculture and the construction of the Lagos-Calabar Coastal Road to create infrastructure along the route to develop wind energy and generate power and we can expand our irrigation network.

Security, he said, is getting better. President Tinubu urged the royal fathers to reach out to citizens in the genuine intentions of the government to deliver on its promises of Renewed Hope.

By Friday, July 26, 2024, many organisations started pulling out of the planned protest. Foremost among them is the Arewa Integrity Group for Good Governance in the North-Central geopolitical zone said to number 60,000 announced that it had pulled out of the planned protest on August 1.

In a statement made available to journalists in Lafia, the Nasarawa State capital, on Friday, the group’s leader, Joseph Maiwada, told journalists in Lafia, the Nasarawa State capital, that the group, “decided to withdraw from the protest to give the government a chance to address the citizens’ needs and sustain the existing peace in the region and country.”

An Enugu Innovative Youth group also announced that it would not participate. The publicity secretary, Jude Aniagu stated that though there was enough justification for the proposed nationwide hunger protest scheduled for August 1–10, 2024, they urge their peers to reconsider participating in the protest.

Also, the luxury bus transport owners and operators, whose buses ply various routes across Nigeria, have dissociated themselves from the ‘Days of Rage’ nationwide protests planned to commence on Thursday, August 1, 2024.

The Association of Luxury Bus Owners of Nigeria (ALBON), described the planned protests as an “ill wind that will blow nobody any good.”

Its President, Mr Nonso Ubajaka, said experience had shown that such protests were usually infiltrated by hoodlums, who use the opportunity to unleash violence.

According to Ubajiaka, members reasoned that if held, the protests could lead to loss of lives and wanton destruction of properties.

He said the resolution of the members of his association had been conveyed to the Minister of Transportation, Senator Said Ahmed Alkali, to whom they made it clear that they would not be a part of the planned protests.

The association acknowledged the economic hardship in the

“

“Yes, I indeed asked for this job and I approached some of you to support me. So, I have no excuse not to do the job with sincerity, purpose and honesty. I have committed myself to it diligently and I will never look backwards

country, with Nigerians feeling the impact of rising food prices and high cost of living.

He however called on the government to dialogue with the protesters ahead of time to avoid unplanned problems that may arise.

He said his members could not afford to risk making their buses the targets of violent protests and called on ALBON members to further disassociate themselves and also disregard the planned action, which he continually referred to as a product of "social

media" resolve.

Yet the organisers are not backing down. In response to the warning issued by the Minister of the Federal Capital Territory, Nyesom Wike, who warned organisers to steer clear of Abuja, the presidential candidate of the African Action Congress (AAC) in the 2023 general election, Omoyele Sowore, has said that the planned nationwide protests, tagged #EndBadGovernance, have gained traction and are scheduled to take place from August 1 to 10, 2024, starting from Abuja.

Sowore, in a post on his X handle on Friday, said the proposed nationwide protests will start in Abuja. He said, “It is starting from Abuja!”

Also, former Minister of Sports under ex-President Muhammadu Buhari, Solomon Dalung has thrown his support behind the protest. He expressed his frustration over the escalating hardship, insecurity, and kidnappings, as well as the perceived lack of effective intervention by the federal government. He said, “hunger and hardship have compelled Nigerians to call for a massive protest.” He urged the Federal Government to slash fuel prices to N100 per litre.

He called on all Nigerians to join the peaceful protest, emphasising that no property would be destroyed. “We will occupy streets to send a message to this blind administration,” he stressed.

Similarly, a Senior Advocate of Nigeria, SAN, Ebun Adegboruwa, writing as solicitor to the Take It Back Movement, notified the Inspector-General of Police (IGP) and the Director of the Department of State Services (DSS) that the planned rallies would commence from August 1 to 10, 2024, or any time thereafter.

He said the rallies would be held at the Eagle Square in Abuja and other public spaces in the capital cities of the 36 states and the headquarters of the 774 local government councils.

Adegboruwa, while reiterating the role of the security agencies during such rallies and protests, urged the leadership of the security agencies to make available the details of any of their officers or teams that will be assigned to cover the said meetings/rallies/processions to harmonise plans and strategies for the same.

In the same vein, the Lagos Chapter of the Active Citizens Group Nigeria has notified the state Commissioner of Police of their intention to participate in the planned nationwide protest, from August 1 to 10, 2024.

The group’s state coordinator, Adamma Ukpabi, notified the authorities of the peaceful protest plans in a letter, citing rights to free speech and assembly.

He said the protest is scheduled to take place on two designated routes: mainland route, starting at NAHCO Bus Stop and ending at International Airport, Ikeja, and island route, starting at Marwa Bus Stop, Lekki Phase 1, and ending at Eti-Osa Local Government.

The letter is titled “Subject: Notification of Peaceful Protest and Request for Security Support.”

A human rights lawyer, Inibehe Effiong dismissed the statement by the military that it had uncovered plots by unscrupulous elements to hijack the protest and turn it into a violent one by attacking innocent Nigerians and their businesses.

Effiong, in a post on his X handle on Thursday, said soldiers should stay in their barracks and stay out of politics.

He said: “The Nigerian military has no business issuing such a statement in a civil matter. Nobody will be intimidated by your threats. Soldiers should stay in their barracks and stay out of politics.”

Calling for cooperation with the police to ensure the protest is conducted peacefully, the Inspector-General of Police, Kayode Egbetokun on Friday, said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest. However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place."

The recent Supreme Court judgment that granted financial and administrative autonomy to the LGA has opened all kinds of permutations for the LGAs, no doubt. This one by INEC is not different. For a commission, often dogged by logistics, funding, technology and infrastructural challenges at every election cycle, canvassing for the responsibility to conduct polls across 774 LGAs will be asking for too much

INEC Biting More Than it Can Chew

The recent disclosure by the Chairman of the Independent National Electoral Commission, INEC, Prof Mahmood Yakubu that the commission can conduct elections at the local government level in the country looks laughable on the surface and, on a serious level, quite debatable.

During his appearance before the Senate and House of Representatives Joint Committee on Electoral Matters last week to brief lawmakers on the Commission’s preparations for the forthcoming governorship elections in Edo and Ondo States, and its relationship with the State Independent Electoral Commissions (SIECs) concerning various court judgements, Professor Yakubu flaunted the Commission’s successes in the conduct of Council polls at the Federal Capital Territory, FCT as an indication of its capacity to replicate same in the 774 local governments areas in the country after the necessary complementary constitutional amendments.

Interestingly, the INEC boss also stated the likely challenges that may constrain such a mission. First, there is the issue of funding. By whom? The federal or state

governments, which are lawfully in charge of LGAs? Secondly, there is this punchline from Yakubu. During the meeting with the federal lawmakers, he said: “You have to do something about the byeelections if INEC is saddled with an additional 10,000 Constituencies, we will probably be doing byeelections every week.”

Still, the numbers give a graphic picture of what is at stake. Currently, the Commission conducts elections in 591 constituencies. The LGAs have a total of 10,000 constituencies and 8,809 wards, meaning an additional 11,000 constituencies, where INEC conducts elections, but elections may not be held all in one day. These numbers pale in significance to the figures in the FCT Area Councils, which have 63 wards, six chairpersons and 62 Councillors. The recent Supreme Court judgment that granted financial and administrative autonomy to the LGA has opened all kinds of permutations for the LGAs, no doubt. This one by INEC is not different. For a commission, often dogged by logistics, funding, technology and infrastructural challenges at every election cycle, canvassing for the responsibility to conduct polls across 774 LGAs will be asking for too much.

During the 2023 General Election, for example, INEC had to grapple with logistical challenges that badly affected the voting process. Devices like the Bimodal Voter Accreditation System (BVAS), were back-tested and failed to work; it failed to capture the faces and fingerprints of registered voters. Many of its officers arrived late at countless polling units and voters had to cast their ballots late at night just as polls were not held in many other units. These internal problems of the commission could only be compounded by other challenges, such as insecurity, vote-buying, thuggery and violence, which often takes place at every election, all of which cast grave doubts on the conduct of the polls.

Indeed, stakeholders generally agree that the INEC has to be made truly independent in terms of its structure and the power to make appointments to the commission before it can be saddled with the kind of duty Professor Yakubu is suggesting.

This is one of the salient recommendations in the Justice Uwais Electoral Reform Report. It is high time these recommendations are implemented, particularly those dealing with the review of the appointment process of chairman, commissioners and resident electoral commissioners into INEC.

OPINION

Repositioning The Economy: What The Numbers Are Saying

BY TEMITOPE AJAYI

On Thursday in Abuja, Minister of Finance, Mr Wale Edun, addressed a press conference and gave a mid-year report on the economy. The Minister told the press what President Tinubu’s administration had done in the last year to address some of the structural imbalances in the economy, working with the fiscal and monetary authorities.

THE FEDERAL GOVERNMENT OF NIGERIA, FOR DECADES, HAS BEEN SPENDING MORE THAN HALF OF ITS REVENUE ON DEBT SERVICING. BY THE END OF JUNE 2023, THE FEDERAL GOVERNMENT WAS SPENDING 97 PER CENT OF TOTAL REVENUE TO SERVICE DEBT

Edun, who will now address a quarterly media briefing on the state of the economy, noted that the economy grew faster in the first quarter of 2024 than in the first quarter of 2023. According to him, economic activity in the first quarter of 2024 was not only faster than the first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years.

He said that the growth was broad-based across several sectors, including agriculture, industries and services. The minister specifically mentioned that the agricultural sector recovered from a negative position in the first quarter of 2023 to a modest growth in the first quarter of 2024. As he pointed out, the industrial sector also grew seven times faster in the first quarter of 2024 than in the first quarter of 2023. He linked the positive economic performance and upswing to the government’s well-coordinated fiscal and monetary policies.

On the revenue side, he explained that the aggregate Federal Government revenue in the first half of 2024 was more than double of the corresponding period in 2023 and it was due to the reconfiguration and improvement in government finances, with oil revenue as a percentage of gross revenue increasing from 11 per cent in the first half of 2023 to 30 per cent in the first half of 2024.

Here are the numbers as presented by the Minister: Non-Oil Revenue: The government’s determination to mobilise non-oil revenue has consistently delivered impressive results. For the half-year 2024, non-oil revenue not only surpassed the revenue in the first half of 2023 but also 30 per cent above the 2024 budget target without any increases in taxes. National Debt Burden: The Bola Tinubu Administration, in the words of the minister, has been working to manage and reduce the national debt to create better fiscal headroom for economic management. In dollar terms, Edun pointed out that Nigeria’s debt burden has reduced and the government’s fiscal deficit has improved.

“Our debt has fallen in dollar terms from $108 billion to $91 billion. Additionally, the government has diligently serviced all its loans and obligations with no recourse to ways and means of financing. The government has met all its obligations,” he said. Ways and Means: In the last year, the administration has exited the Ways and Means debt trap due to better management of the fiscal space, as the Federal Government did not rely on borrowing from the CBN Ways and Means to fund its obligations. The finance minister pointed out that part of the inflationary pressure the country is currently experiencing was a result of the past abuse of ways and Means. The Federal Government had paid back the previous N7.3 trillion obligation within a year of the administration.

Debt Service to Revenue: In meeting its debt obligations to avert any form of default, the Federal Government of Nigeria, for decades, has been spending more than half of its revenue on debt servicing. By the end of June 2023, the Federal Government was spending 97 per cent of total revenue to service debt. In the last year, the country recorded a positive trend in the debt service-to-revenue ratio. Currently, the debt service-to-revenue ratio has declined from 97 percent in the first half of 2023 to 68 percent in 2024, indicating the government’s strong position in managing its debt obligations.

Budget Deficit: It has been a major priority for the economic managers to reduce the budget deficit. To achieve this, the Federal Government, in the last year of the Tinubu administration, improved government revenue collection and blocked a lot of leakages. At the media briefing, Edun noted that the 2024 budget deficit had moved in the right direction, with a target of 4.1 per cent of GDP, an improvement from the 6.1 per cent deficit recorded in 2023. “On an annualised basis, we are at 4.4 per cent, so you can see we are effectively very, very close to the budgetary target,” he said.

Foreign Inflows: The government’s efforts to attract more foreign inflows into the economy continue to yield good outcomes. The minister said the government would continue the reforms and improve the business environment to engender confidence further. Edun underscored the government’s efforts to attract foreign inflows, including implementing the national single window project, which he said will generate $2.7 billion annually in economic benefits. The minister added that the government’s accelerated stabilisation and advancement plan has already attracted $500 million in investment in the gas sector, with $7 billion more on the sidelines waiting to come in.

Inflation and High Cost of Living: To address the current high cost of living and bring more relief to the masses, the Minister again pointed out that the government had implemented several initiatives and interventions, including a strategic input programme to increase the supply of food, a pivot to Compressed Natural Gas (CNG) fuel for mass transit vehicles, and providing lower-cost financing for the manufacturing industry and production.

Mr Edun, who sympathised with Nigerians for the current hardship, which he also noted will soon blow away, expressed the optimism that inflation, despite being “quite sticky at the moment,” will decelerate and come down due to government’s commitments and actions. Mr Edun said: “Clearly, as part of the reform programME, on the monetary side, monetary policy has been tightened. CBN has been proactive in adjusting the monetary policy rate to address inflation head-on, which is in line with its legal mandate.”

•Ajayi is the Senior Special Assistant to the President on Media and Publicity

More Wins, Awards For Diri

BY OSARO OKHOMINA

Predictably, the last few months, after taking the oath of office on February 14, 2024, have been impactful for the people and Government of Bayelsa State under Governor Douye Diri. In those six months, instead of allowing distractions, Gov. Diri set in motion the machinery to consolidate and hit the ground running to fulfill promises made to the people of the state. While known detractors moved to the Governorship Election Petition Tribunal to overturn the mandate of the people, the Prosperity Administration was busy achieving new firsts and breaking news grounds. For many of the Governor's followers and loyalists, the last few months have been filled with excitement as the state government focused on more work to completing ongoing road projects and other infrastructures. Already, the administration has intensified work on the new Legislators' and Commissioners' quarters and the adjourning road networks.

At the Nembe-Brass Road, the Stone base is 5.2 kilometres, first bridge work is in progress with sandcement stabilisation at kilometre 6.5 and sand filling at kilometre 7.5. The administration has also commenced the construction of the Glory Drive Phase 3 with the clearing, removal of unsuitable materials/topsoil and sand filling going on simultaneously. The road is to link the New Yenagoa City at Onopa with a spur and bridge to link Imgbi Road, Amarata.

Gov. Diri, as promised during the campaigns, has also started implementing the "Bayelsa First" belief in the composition of his cabinet. He has embraced members of the opposition family into the prosperity administration. These appointments have endeared him and his prosperity family to the people of the state. He has even gone ahead to assure all stakeholders of the readiness to consider them for more appointments and empowerment. Aside from projects being executed, the seed sown by Gov. Douye Diri in the first term is now yielding appreciable fruits. Like the popular saying, "It is a reward for good and hard work!”

From unsolicited recognition at home by some credible Nigerian tabloids for top performance during the first term, the last few months have been filled with recognition as the “Icon of Unity and Social Justice” by the Ijaw National Congress of the Americas in Houston, Texas. Diri also bagged the prestigious Face of Africa Leadership Award as the "People’s Governor of the Year" by Triangle Media International in partnership with the Face of Africa Leadership in London, United Kingdom. Already, the recognition is also being translated into the campaign for foreign and local investments in the state.

Rounds of visits, engagements and interactions with known Nigerian business moguls and investors at home and abroad have been made by Gov. Diri, which has placed Bayelsa on the business map as a choice destination for investment opportunities. Lately, invitations to Bayelsa State are being extended by foreign countries and return visits made to Yenagoa by High Commissioners, Ambassadors and representatives of international organisations and business groups, laying a template for solid and genuine investments in oil, gas, education and infrastructures.

According to the former US Secretary of State, Colin L. Powell, "Attracting this money isn’t easy. Capital

is a coward. It flees from corruption and bad policies, conflict and unpredictability. It shuns ignorance, disease and illiteracy. Capital goes where it is welcomed and where investors can be confident of a return on the resources they have put at risk. It goes to countries where women can work, children can read, and entrepreneurs can dream. “ Under the prosperity administration of Governor Douye Diri, Bayelsa has become that choice destination where the security of lives and property is assured, infrastructures that open the state to hidden wealth in the East and Central districts of the State are being opened with massive infrastructural development across the three Senatorial Districts.

UNDER THE PROSPERITY ADMINISTRATION OF GOVERNOR DOUYE DIRI, BAYELSA HAS BECOME THAT CHOICE DESTINATION WHERE THE SECURITY OF LIVES AND PROPERTY IS ASSURED

The Prosperity government has prioritised road projects linking up several riverine communities. This was part of Gov. Diri's promise while taking oath for a second term in office. According to him, "It is the strong belief of this Prosperity Government that our citizens should have a more active

and direct role in shaping and participating in the economy." While celebrating the recognitions, Bayelsans were once again thrown into the victorious mood with the defeat of the various opposition parties at the Governorship Election Petition Tribunal and the Appeal Court sitting in Abuja.

Gov. Diri floored Kalango Stanley Davies of African Democratic Congress (ADC), Engr. Udengs Eradiri of the Labour Party and Micah Akeems of the National Rescue Movement (NRM) at both the Governorship Election Petition Tribunal and the Appeal Court. The three petitions were dismissed for lack of merit and mere waste of precious time of the lower and upper courts. The Justice Adekunle Adeleye-led three-member tribunal also in its ruling affirmed the re-election of Governor Diri in the November 11, 2023, election in the state and dismissed the petition filed by Chief Timipre Sylva and the All Progressives Congress (APC) on grounds of lacking merit.

Responding to the victories, the Governor of Bayelsa State, Senator Douye Diri, dedicated his victory at the Governorship Election Petition Tribunal to the people of the state, declaring that it will spur him to serve the state better in his second term.

Gov. Diri, while speaking with newsmen after the ruling, said the petition was a “needless distraction, noting that by the judgement, the judiciary has again proven that it remained the last hope for the common man.

Food Crisis Looms as Prices Rise by Over 250% in One Year

There are fears of an imminent food crisis as prices of basic items have skyrocketed – hitting over 250 percent in one year, according to a report by the National Bureau of Statistics (NBS).

The report stated that the prices of major staple foods in Nigeria, such as beans, yam, potato, plantain and tomato have risen by over 250 per cent in the last one year.

This is according to the latest Food Price Watch from the NBS, which states that the price of beans soared by 252 per cent between June 2023 and June 2024.

The report indicates that the average price of 1kg of brown beans (sold loose) stood at N2,292.76, representing a 252.13 per cent increase year-on-year from N651.12 in June 2023 and a 14.11 per cent increase monthon-month from N2,009.23 in May 2024.

Tomatoes (1kg) also saw significant price increases, rising by 320.67 per cent yearon-year from N547.28 in June 2023 to N2,302.26 in June 2024. On a month-on-month basis, the average price of tomatoes increased by 55.59 per cent from N1,479.69 in May 2024. Additionally, the price of Irish potatoes rose by 288.50 per cent year-on-year from N623.75 in June 2023 to N2,423.27 in June

Continues on page 14

EDITOR Sam Diala

FAAC: LG Allocations Rose by 48.5% to N1.6trn in One Year

Total disbursement from the Federal Account Allocation Committee (FAAC) to the 774 local government areas (LGAs) in Nigeria’s 36 states rose by 48.5 percent to N1.69 trillion (year-on-Year) as of June 30,2024, from N1.14 trillion in the corresponding period of the previous year.

Data obtained from the National Bureau of Statistics (NBS) showed that the 744 LGAs received a total of N2.48 trillion from FAAC in June 2024 against NN1.134 trillion in June 2023, an increase of 119 percent.

Further analysis of the report revealed that the highest allocation in 2024 was recorded in January when the LGAs shared N288.93 billion while the least amount was recorded in March with N267.15 billion.

In the case of 2023, a significant jump was recorded in May when the FAAC allocation for the LGAs rose to N213.67 billion from N171.26 billion in April of the same year, representing an increase of 24.7 percent after the devaluation of the Nair a on June 14, 2023. This majorly accounts for the surge in the FAAC allocation to the three years of government (Federal, State and LGAs).

On face value, the federal, state and local government councils are harvesting an incredible volume of FAAC revenue which is largely attributed to the removal of fuel subsidy by the federal government in May 2023.

However, a closer look at the state of the nation’s affairs would reveal that the source of the ‘voluminous’ naira is the depreciation of the local currency which has lost over 200 percent of its value in the past 12 months. This is more so when the high cost of debt servicing and the secret monthly subsidy are factored in.

In real terms, the federal, state and local government councils are receiving a relatively ‘worthless’ volume of the naira which has lost a significant chunk of its value.

As of June 13, 2023, the naira exchanged N471.67 at the Autonomous Foreign Exchange Market (AFEM) and N768 at the parallel market. On the abolition of the multiple exchange rate windows, which signified the devaluation of the naira, on June 14, 2023, the local currency slumped to N664.04/$1 on the same day, representing a depreciation of 40.78 percent in one swoop.

This triggered a roller-coaster trend for the naira which suffered intense volatility that the monetary policy authorities have lost control of. As of Friday, July 26, 2024, the naira exchanged N1,609.29 at the official window.

This implies that the naira has lost N1,147/62 representing 243.3 percent .With inflation rate hitting a 28-year high of 34.19 percent in June, from 33.95 percent in May, according to recent report by the National Bureau of Statistics (NBS),

BY SAM DIALA

...48.5% to N1.6trn in One Year

Data obtained from the National Bureau of Statistics (NBS) showed that the 744 LGAs received a total of N2.48 trillion from FAAC in June 2024 against NN1.134 trillion in June 2023, an increase of 119 percent

BUSINESS WEEKLY

it becomes obvious that the federal, state and local government councils are carrying huge volume of naira with less value, in real terms.

Price pressures have left millions of Nigerians grappling with the worst cost of living crisis in decades as they struggle to meet their basic needs.

To ease the pressure on workers, the federal government has approved a new minimum wage ofN70,000

“With insecurity continuing unabated and farmers abandoning their farms to live in the IDP camps, trucks conveying food items spend two weeks from the North to Lagos, for instance, while most of the items become damaged before arrival, it is doubtful what the government can do under the circumstance without addressing the major causes of the abnormally high inflation – fuel subsidy, high exchange rate and insecurity”, said Joseph Akor, a food merchant.

An Economist, Benjamin Ogar, said, “If the government is paying subsidy on imported refined petrol, and servicing our huge debts regularly, and our oil production is less than 1.3 million barrels per day – far less than our OPEC allocated quota, it shows that the huge FAAC revenue comes mainly from the devaluation of the Naira.”

Gabriel Ogbechie, Chief Executive Officer (CEO) of Rainoil Limited, in April 2024, said the Federal Government spends N600 billion on petrol subsidy monthly. Ogbechie, who spoke during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos, insisted that contrary to the claim by the government that subsidy on petrol “is gone”, the authorities resumed petrol subsidy following the devaluation of the naira in the foreign exchange (FX) market

He said that with the current daily consumption rate at 40 million litres and the FX rate at N1,300, then the government’s subsidy per litre on petrol falls between N400 and N500.

“If you look at what our daily consumption say, conservatively 40 million litres a day if you’re spending N500, that’s at least N20 billion every day, N600 billion every month or N7.2 trillion depending on how you look at it. So subsidy is definitely back on petrol.

“If you want to know where petrol should be, just look at where diesel is. Diesel is about N1300, Petrol is selling for N600. So I can tell you for free top of my head, there is at least N400 or N500 per litre subsidy on petrol today,” he said.

The Federal Government later denied that N5.4 trillion provision was made for fuel subsidy in 202 after it had been included in the document prepared by the Finance Minister for the President’s consideration in determining the new minimum wage for the workers.

...Prices Rise by Over 250% in One Year

2024, and by 51.92 per cent month-on-month from N1,595.07 in May 2024. Furthermore, the average price of 1kg of yam tuber increased by 295.79 per cent year-on-year, from N510.77 in June 2023 to N2,021.55 in June 2024.On a month-on-month basis, the price rose by 52.87 per cent, from N1,322.36 in May 2024 to N2,021.55 in June 2024.

Other staple foods also experienced significant price increases over the past year. For instance, the average price of 1kg of loose white garri rose by 181.66 per cent year-on-year, from N403.15 in June 2023 to N1,135.51 in June 2024. Additionally, there was a 1.86 per cent increase on a month-onmonth basis.

Also, the average price of local rice sold loose rose by 179.97 per cent from N608.20 in June 2023 to N1,702.24 in June 2024. Nigerians on the average paid double the price for wheat from June 2023 to June 2024 as the price rose from N1,380.45 per Kg to N3,157.75 indicating an increase of 128.75 per cent during the 12-month period.

Among food items with over a 250 per cent year-on-year increase, the SouthWest recorded the highest prices. For example, the analysis by zone showed that the average price of brown beans (sold loose) was highest in the NorthCentral at N2,923.45, followed by the South-South at N2,630.03, while the North-West recorded the lowest average price at N1,647.03.

The average price of 1kg of tomatoes was highest in the South-West and the South-East at N3,261.84 and N2,852.59, respectively, with the lowest recorded in the North-West at N1,411.16. The South-West recorded the highest average price of 1kg of yam tuber at N2,745.80, followed by the North-Central at N2,440.35, while the lowest was recorded in the NorthWest at N1,238.49.

Additionally, the South-West and the North-East recorded the highest average price of 1kg of loose white garri at N1,199.62 and N1,155.63, respectively, while the lowest was recorded in the North-Central at N1,055.87.

Nigeria’s inflation figure reached a new high, hitting 34.19 per cent for June 2024, the NBS said last week.

This is an increase of 0.24 per cent points when compared to the inflation figure for May 2024 released by the NBS.

“In June 2024, the headline inflation rate increased to 34.19 per cent relative to the May 2024 headline inflation rate which was 33.95 per cent. “Looking at the movement, the June 2024 headline inflation rate showed an increase of 0.24 per cent points when compared to the May 2024 headline inflation rate,” the NBS said in its Consumer Price Index (CPI) – which measures the average change over time in the prices of goods and services consumed by people for day-to-day living.

“On a year-on-year basis, the headline inflation rate was 11.40 per cent points higher compared to the rate recorded in June 2023, which was 22.79 per cent.”

According to the NBS, the headline inflation rate, year-on-year basis, jumped in June 2024 when compared to the same month in the last year.

Wema Bank Launches Payment Platform For

SMEs, Others

Wema Bank has introduced ‘AlatPay,’ a new platform designed to offer a secure endto-end shopping experience for customers and instant settlement for merchants. The launch event took place recently in Lagos.

‘AlatPay’ is a fully integrated payment system that allows business owners to showcase their products and services. Entrepreneurs can accept payments across various channels and settle transactions in local or foreign currencies, all via a unique link on their ‘AlatPay’ online store. The platform simplifies the payment process by eliminating the need for third parties, maintaining transaction security, and offering a seamless shopping experience for both merchants and customers.

The platform supports unlimited transactions with no hidden charges and provides dedicated support for users.

Merchants can pull volumes of sales and receive credit for each purchase without direct customer interaction. When a link

is shared, customers are directed to the business’s storefront, where they can shop, add items to their cart, checkout, and make payments using their preferred methods, including card, banking information, bank transfer, QR code, or phone number.

Oluwole Ajimisinmi, Wema Bank’s Executive Director of the Lagos Directorate, emphasized the platform’s potential to empower small businesses, which make up a significant portion of the economy. “AlatPay is the future, positioning Nigerian businesses to seamlessly acquire transactions worldwide. Customers get access to a payment gateway, SME toolkit, trainings, exposure, loan, and trading facilities, all in one,” he said.

Damola Bolodeoku, the bank’s Divisional Head of Payment Business, highlighted a unique feature of ‘AlatPay’—the ability to collect payments in foreign currency. “If a customer from the United States pays with their USD card, ‘AlatPay’ allows the business to receive the payment directly in

EDITOR Ivory Ukonu

Friends That Stick Closer Than Siblings

Ahead of this year's International Day of Friendship on July 30, 2024, a day set aside by the United Nations to promote solidarity, mutual understanding and reconciliation, IVORY UKONU spotlights a few prominent individuals whose bond have stood the test of time in a world full of, strife, hatred and back-stabbing

Dele Momodu and Ademola Adeleke

These two men are not only prominent Nigerians but also very close friends. Although they have been friends for many years, they did not flaunt it until Senator Ademola Adeleke became Governor of Osun State. Their friendship was gradually exposed to the public as the publisher of Ovation Magazine and Boss Newspaper, Dele Momodu, used every available opportunity to showcase and celebrate their friendship, while also deploying all his media arsenal to project the various strides the governor has taken for the good people of Osun State. For every project both men have embarked on individually, they never ceased to support each other. Some years ago, when Momodu aspired to become president of Nigeria, despite knowing it would be an uphill task, Governor Adeleke stood behind him like a rock.

Likewise, when Adeleke took the first shot at Osun Government House, Momodu stood solidly behind him. Although his aspirations didn't come to fruition then, Momodu nonetheless threw his weight behind his friend when he tried again the second time and won the governorship election against all odds.

Beyond their friendship, the two share some similarities. For example, they were both born in the month of May and they are both the same age with days apart from their dates of birth. Their relationship can only be likened to a friendship made in heaven and manifested on earth.

Omawunmi and Waje

The Nigerian entertainment industry is full of catfights and many of the practitioners have openly accused their colleagues of envy. However, there are some friendships that have stood the test of time in the industry and the one between singers, Aituaje Irobe, aka Waje and Omawumi Megbele, is one of them. Besides achieving a lot careerwise over the years, making them two of the biggest singers to come out of Nigeria, Omawunmi and Waje share a remarkable friendship that has spanned over a decade. Despite their busy schedules as mothers and their successful careers as singers, they’ve managed to maintain a strong bond. It boils down to understanding one another. This has been the bedrock of their friendship. Over time and over the years, they have come to understand that their friendship is not just about them but also about people connected to them. Their friendship has lasted this long because they share the same goals, aspirations, vision and the same burdens. They have gone beyond friendship and have become family. Their sisterly love and relationship continue to inspire fans and demonstrate that true friendship can withstand the test of time and fame.

Singer David Adeleke, aka Davido and nightlife entrepreneur, Pascal Okechukwu, aka Cubana Chief Priest, share an impressive friendship that has captured the attention of many of their fans. Chief Priest has consistently supported and promoted Davido’s music on social media platforms, celebrating his wins and events.

On his part, Davido has always shown up for the businessman as it concerns the promotion of the latter's business. These men show up for each other in different capacities, openly celebrating their friendship. Their bond goes beyond mere acquaintanceship; they’ve become best friends who uplift each other.

Cubana Chief Priest recently showered praises on Davido, declaring his unending love for the singer while also praying for him. This was contained in a recent post on his Instagram page where he shared a photo of Davido and assigned an Igbo name to him. Their friendship is a testament to mutual support, genuine connection and celebration of success.

and

Over the years, Nollywood actresses, Bisola Aiyeola and Sharon Ooja have simultaneously shared how essential their friendship is and how committed they are to fostering their friendship, but it wasn't until Sharon decided to walk down the aisle that it occurred to many that their friendship transcends the screen and mere talk. Bisola was not only her maid of honour but also she stuck out her neck in defence of Sharon when a news blog said some unpalatable things about her and her husband, Ugo Nwoke. It is exhilarating for many to see the joy they both bring out from each other.

To express her gratitude and love for her best friend and colleague, Sharon in a heartwarming post described Bisola as a friend after her own heart and appreciated her unwavering support to her. Sharon praised Bisola for her ability to understand her without asking questions and for helping her redefine friendship. She expressed her admiration for Bisola’s strong and supportive nature, stating that every woman needs a friend like her in their life. She referred to Bisola as a sister beyond a best friend.

Davido and Cubana Chief Priest

Bisola Aiyeola

Sharon Ooja

Biodun Fatoyinbo and Korede Komaiya

Pastors Biodun Fatoyinbo and Korede Komaiya are both notable figures in the Christian community. While Fatoyinbo is the founder of the Commonwealth of Zion Assembly (COZA), Abuja, Komaiya is the Presiding Pastor of The Master’s Place International Church, Warri, Delta State. While they have both played significant roles in their respective communities and have made positive impacts in the lives of many, the bond they share is one that cannot be ignored. Komaiya likes to refer to Fatoyinbo as his covenant brother and not just a mere friend. Their bond reflects the power of connection and honour. They have celebrated together significant moments of each other's achievements and wins. In their lowest times, they have equally been there for each other, particularly when Fatoyinbo was down for almost a year with a debilitating illness.

Abike Dabiri-Erewa and Funmi Ajila-Ladipo

Razaq Okoya and Samuel Adedoyin

The friendship of businessmen, Razaq Akanni Okoya and Samuel Adedoyin dates back to over six decades when they were still fledgling business and industrial entrepreneurs. They met through divine intervention way back in Dosunmu market, Lagos Island as a prospective retailer and a trader in domestic and home products. Today both of them stand as industrial giants in their respective business empires, without any strain on their almost filial relationship, much to the envy of their contemporaries in the volatile industrial and manufacturing world. Adedoyin was in his 30s while Okoya was in his 20s when they met. They took to each other immediately and did lots of business together.

Although Adedoyin is older than Okoya by four years, it did not in any way affect their friendship as they have never had any issue or misunderstanding. The nexus between the two is so infectious that one cannot but conclude that they are brothers from different mothers. While Okoya holds sway as the chairman of Eleganza Group of companies, his ‘twin brother’ Samuel Adedoyin, also towers over his Doyin Group of companies.

The two close friends who are now in their 80s not only enjoy each other's company but also they have never been found wanting when it comes to being supportive to each other. Adedoyin has never been found missing at any of the numerous Okoya events and vice versa. Okoya also always finds time to support his friend at any of his family's events which are few and far between. Interestingly, the two are of different religious faiths with Okoya being a devout Muslim and Adedoyin a pious Christian. But this has not in any way infringed on their close relationship.

Chioma Ikokwu and Kijapa Osunde

This beautiful duo are just friends who are also business partners. Their friendship has since metamorphosed into sisterhood They both own The Good Hair Ltd, a luxury hair company as well as Brass and Cooper, a restaurant and lounge, both located in Lagos State.

Chioma Ikokwu and Kijapa Osunde, otherwise known as Kika, met while the former was studying law at the University of Birmingham, United Kingdom. They founded the hair company in England and finally moved the business to Nigeria when they relocated in 2014. After moving back home, they opened a beauty bar called The Good Hair Space, a mall consisting of a hair salon, a makeup studio, champagne bar, men's grooming studio and a VIP lounge. Money to set up the business was provided for by Chioma's parents. Their story is quite an intriguing one especially in a world where most women find it difficult to maintain a business collaboration. They have succeeded in breaking that jinx. And despite the difference in their backgrounds, they have virtually become sisters and theirs is a true representation of what true sisterliness can birth and sustain.

WFlorence Ita-Giwa and Abba Folawiyo

ith fashion icon and founder of Labanella Fashion House, Abba Folawiyo, otherwise known as Sisi Abba and Senator Florence Ita-Giwa, there can’t be a better definition of true friendship. They are like two bodies in one soul; and they, no doubt, understand the spirit of true friendship. Their friendship, to those who have been following their stories, has stood the test of time. And one won’t be exaggerating, if their friendship is described as being made in heaven. They also have a unique way of appreciating each other, as proof of their abiding love, trust and understanding. They support each other without fail and both are a delight to behold when they step out to parties which is always. Although Sisi Abba is older than Ita-Giwa, the former 84 and the later 78, the age difference has not in any way triggered a sense of superiority in Sisi Abba who regards Ita-Giwa as her equal. Sisi Abba once revealed that what has kept her friendship with Ita-Giwa going for this number of years and even some of her other friends is the fact that she took time to study them to know what they like and dislike and makes sure to avoid anything that could possibly trigger a quarrel with her friends.

Despite Abike Dabiri-Erewa’s tight schedule in Abuja as the Chairman/CEO, Nigerians In Diaspora Commission, NIDCOM, she still finds time to see her best friend, Funmi Ajila-Ladipo, a socialite and popular fashion designer and former president of Fashion Designers Association of Nigeria, FADAN, in Lagos as they can't bear to be out of each other's sight for long. When she visits, they rub minds together or attend parties together. The duo, who are like Siamese twins, have been friends for over 30 years and their friendship is based on understanding, love and mutual respect. The fact that Abike is a Muslim and Funmi is a staunch Christian has not defeated the purpose of their friendship.

Bunmi George, founder of Shredder Gang, a nutrition and fitness company, understands the importance of true friendship and how it can be a true blessing as well as a heavy burden if not navigated correctly. She also understands how important it is to get this aspect of a woman's life right which is why she is overly intentional about her friendship with content creator and influencer, Ayoyinka Abolarin. These two women exemplify strength, resilience, and the power of sisterhood. Their stories inspire and encourage others to embrace meaningful connections and support one another.

Bunmi George and Ayoyinka Abolarin

FIFI EJINDU AND NKIRU ANUMUDU SHEATHE THEIR SWORDS

Former friends turned foes, businesswoman Fifi Ejindu and Nkiru Anumudu, widow of late businessman William Anumudu, have both decided to quit fighting one another and embrace peace.

Both women had been at war for many years. It got worse when Fifi, who is a leading female architect in the country, relocated from Lagos to Abuja. In her absence, Nkiru made new friends who appeared to fill the void created by her departure to the Federal Capital Territory.

At first it was difficult to tell what exactly caused their fight. Could it be due to petty rivalry or what some people refer to as high-priced ego? Until they quarreled with each other, Ejindu and Anumudu had carried on like Siamese twins. So intense was their closeness that they appeared at most public functions together. There seemed no room for a crack

Continued from page 18

Continued from page 18

carefully. The people of Asaba didn't want anyone who would fall short of their expectations. They desired a man capable of filling the yawning gap created by the late Asagba’s departure. They proceeded on a meticulous search for a suitable candidate. Finally Providence granted their wishes. The search led them to one of the most accomplished technocrats in the corporate world who will be sitting on the stool vacated by late Prof Edozien in no distant time. With all traditional funeral rites now completed, all eyes are now on Anthony Ogugua Konwea, a 61-year-old petroleum engineer, environmental resources manager, analytical chemist and a public administrator who is the community’s choice for the throne. Konwea is from the Umuonicha family of the Isieke clan. He is in the 15th direct line of the descendants of the founder of Asaba, Nnebisi. He studied petroleum production and engineering at the Petroleum Training Institute (PTI), Efurun, Delta state, after which he earned a Master’s degree in environmental resources management from the Lagos State University (LASU), a postgraduate diploma in analytical/environmental chemistry from the Lagos State University (LASU) and

on the wall of their friendship. They also shared a few things in common; their exotic and expensive fashion styles and both wielded immense influence among Nigeria's elite.

When Fifi eventually tied the knot with Amaechi Ejindu in an elaborate ceremony in Dorchester, London in 2011, Nkiru was her maid of honour.

Unfortunately, their friendship couldn't stand the test of time, it collapsed. Unable to come to terms that the former best friends were no longer on speaking terms, some of their mutual friends attempted to reconcile them but in vain. So it came as a shock to attendees when they saw the two embracing and hugging each other at the burial ceremony of Chief Florence Saraki, the mother of Bukola Saraki, former Senate President this past weekend. Many of the guests who are in the know of what transpired between were delighted that the two have finally decided to give peace a chance.

Meet The Next Asagba of Asaba

then a bachelor’s degree in public administration from Ambrose Alli University, Ekpoma, Edo state.

The Isieke clan where Konwea comes from promised that the new Asagba will ensure that the throne receives a sociopolitical redefinition and facelift. Other promises made on his behalf are that he will promote and ensure that Asaba cultural heritage attains a global standard, ensure that their socio-cultural heritage can offer meaningful Internally Generated Revenue for sustainability, use his expertise and knowledge in the petroleum sector to put Asaba amongst the oil and gas producing communities and collaborate with the Upstream Monitoring and Regulatory Agency to exercise an aspect of its regulation to establish an administrative office in Asaba.

Other promises are that Konwea will partner with the Delta State House of Assembly to enact a law granting Asaba indigenes the right of catchment area status, liaise with the state government to restore the official role of the Omu Ahaba as the administrative head of the markets in Asaba township, work with Asagba-inCouncil to checkmate and curb youth restiveness, and preserve the cultural heritage of Ndi Ahaba.

FOLAKE SOETAN BURIES MOTHER IN STYLE

During the week, Folake Soetan, the Chief Executive Officer of Ikeja Electric Plc, pulled all the stops to give her mum, late Mrs Kofoworola Olufunmilayo Falegan, a befitting burial.

Mrs Flaegan passed on in February at the age of 78. Her burial ceremony tagged Celebration of Life was conducted at Yaba Baptist Church and a private interment with only close family members followed immediately after.

Quite a number of prominent Nigerians attended the wake, the burial service and the reception. These individuals' presence despite their busy schedule and other commitments is not only a testament to Folake's endearing nature but also because of the rapid transformation she has made possible since climbing the saddle as CEO. She has not only orchestrated some of the most significant commercial turnarounds in the industry. Her team’s initiatives to combat energy theft, address estimated billing concerns, and improve customer complaints resolution were groundbreaking. These efforts significantly reduced commercial and collection losses, establishing new benchmarks in the sector. A notable achievement during her tenure was the successful implementation of the Bilateral Power initiative, a pioneering Willing-BuyerWilling-Seller scheme that guarantees customers a minimum of 20 hours of power supply through the National Grid.

community development through film. Bukky joins the group as VP of Nile X, the luxury cinema arm. An award-winning strategic communications expert, public speaker, a director of 'The Lagos Today' Newspaper, founder of Africa's number 1 social calendar app, CRAWL and Robert Taylor Media, Bukky is expected to bring 17 years of strategic communications experience to bear on the company and position it as a market leader. A graduate of the Nellie Quander Leadership Institute and a Fellow of the Institute of Brand Management of Nigeria, Bukky who is a member of the Public Relations Society of America, The Canadian Public Relations Society, Alpha Kappa Alpha Sorority Incorporated, sits on the board of Silver Lining for the Needy Initiative. She is also a director of strategic partnerships at The Luxury Network and a member of

various organisations, such as BoardRoom Africa, Valence Community, and The Gathering Spot Atlanta, US. A published author, 'Born To Stand Out,' a book that emphasises the importance of intentional personal branding, selfreflection and self-awareness, the quintessential queen of public relations is an honorary doctorate degree holder in Communications and strategy from Myles Leadership University. Besides Bukky, Babatope assembled a female-led executive team for his new venture. There is Biola Sokenu the executive director and group COO; Lolu Desalu joining as executive director too; lawyer turned filmmaker, Abimbola Roli Craig who takes on the role of VP production and Nowekere Alexis C.I Segun-Ojo who is joining as General Manager of distribution and marketing.

Quite unlike her fellow socialites who would shut down streets, event venues in celebration of their birthday, Kiki Okewale, the founder of the House of Plush Exclusive (HOPE) Fashion label birthday celebration. The entrepreneur and life coach, who is also the wife of Dr Babatunde Okewale, an authority on fertility issues and owner of the popular St Ives Hospital Group, chose to hold an empowerment extravaganza for her 40th birthday. The event which was tagged ‘Learn, Connect, Celebrate’ turned out to be an emotional and inspiring encounter for the attendees and the volunteers. She threw a ‘Blingers’ Party’ for 100 women who she trained on how to transform rhinestones into beautiful crafts and lucrative businesses. The day also had a raffle draw session where some of the trainees smiled

home with four brand new heat press machines, as a form of encouragement for them to start off their businesses, and some starter packs in the form of accessories. Following the session, an additional eight more heat press machines were donated. Kiki says that her 40th birthday is a special moment to reflect on what God has done for her and also give back to society.

Popularly known by her friends as ‘Queen of blings’, Kiki has her fingers in many pies, including public speaking, mentorship, life coaching and women empowerment, all of which have seen her spearheading several initiatives that have been applauded as value-adding to the growth and development of women. She also donated food items and other gifts to the less privileged across Lagos State. Kiki boasts of a résumé that includes more than one career and she continues to chart into new territories that are both fashion-related and otherwise. She recently opened a multimillion-naira garment factory in Lagos where she employed scores of young Nigerians. Besides her fashion business, she also runs a blog, and nongovernmental organisations that offers mentorship classes on entrepreneurship mostly under the auspices of Women High Achievers Trybe (WHATrybe), a community of female high achievers she leads.

Soetan

Ejindu Anumudu

Okewale

SHOTS OF THE WEEK

Photo Editor: Peace Udugba [08033050729]

L-R: Deputy Director, Securities and Exchange Commission, Mr John Briggs; Executive Commissioner, Operations SEC, Mr Bola Ajomale; Executive Director, Climate Transition Limited, Mr Olumide Lala and Director, SEC, Mrs Hafsat Rufai, during the Institutional Capacity Development meeting on Green Finance for Capital Market Operators in Lagos on July 23, 2024.

L-R: Vice President Kashim Shettima, with former President, Olusegun Obasanjo, during the public presentation of Chief Olusegun Osoba's book "My Life in the Public Eye" at Eko Hotel in Victoria Island, Lagos on July 20, 2024.

L-R: Co-founder Alajo, Jumoke Oduwole; Chief Operating Officer, Semicolon, Ashley Immanuel; anchor of the event: Olawale Daniel; Founder, ProDev (Moderator), Mr. Williams Nwogbo; Head of HR, Helium Health, Ijeoma Oyeyinka; Chief Operating Officer, Career Buddy Joema, Precious Samuels at the Global Tech Africa 2024, held at Landmark event Centre, Lekki, Lagos on July 24, 2024.

Prime Minister of the Commonwealth of the Bahamas, Hon. Phillip Davis (middle), presenting the Lifetime Achievement Award to the former Group CEO of Airtel Africa, Dr. Segun Ogunsanya (Right) and Member of the UK House of Lords and Prime Minister’s Trade Envoy to Rwanda, Uganda and DRC, Lord Dolar Popat, at the 9th ALM Summit in London, on July 18, 2024.

L-R: Chief Executive Officer, MultiChoice, West Africa, John Ugbe; Founder, The Bridge Leadership Foundation, Senator Liyel Imoke and Executive Head, Content and Channels, MultiChoice, West Africa, Dr. Busola Tejumola at the 14th Career Day Conference held at the Calabar International Conference Centre  on July 19, 2024.

Paris 2024: Olympic Games Kick Off Spectacularly Amid Challenges

BY JUDE OBAFEMI

Paris,

In

The stage is set, the flame is lit, and the world watches with bated breath

grappling with a string of incidents that tested its mettle. A shocking allegation of sexual assault involving a 25-year-old Australian woman in northern Paris sent ripples through the Olympic community. The Paris prosecutor's office swiftly launched an investigation, while the Australian Olympic team chief, Anna Meares, urged heightened vigilance among athletes.

Adding to the pre-Games tumult, Brazilian football legend Zico fell victim to theft. The 71-year-old icon, in Paris to support the Brazilian Olympic team, had his bag snatched through an open car window. The stolen items reportedly included cash, watches, and diamond jewellery, with some sources estimating the value at N500,000. This incident served as a stark reminder of the security challenges faced by high-profile visitors during major international events.

Perhaps the most bizarre pre-Olympic controversy erupted when Canada's women's soccer team, the reigning gold medallists, found themselves embroiled in a spying scandal. New Zealand's Olympic Committee lodged a complaint after discovering a drone hovering above their team's practice session. The device was traced back to Joseph Lombardi, an analyst with the Canadian team. The fallout was swift and severe, with Canada removing head coach Bev Priestman and two staff members from their roles. FIFA launched an investigation into potential breaches of fair play regulations, casting a cloud over Canada's participation in the tournament.

Compounding these issues, a series of apparent arson attacks on France's high-speed railway network threw travel plans into disarray on the very day of the opening ceremony. The French rail operator SNCF reported multiple fires at train stations, describing it as "a massive attack on a large scale to paralyse" the system. With 250,000 travellers affected, including many heading to Paris for the Olympic festivities, questions arose about France's preparedness to handle the influx of visitors.

These incidents, occurring in quick succession, raised legitimate concerns about France's readiness to host an event of such magnitude. The ability to ensure the safety and security of athletes, officials, and spectators suddenly seemed precarious. Yet, despite these challenges, the spirit

narrative in itself. French football icon, Zinedine Zidane, initiated the torch relay, only to encounter a staged mishap on the Paris metro. This led to a masked torchbearer embarking on a parkour-style journey across Parisian rooftops, including Notre Dame Cathedral and the Louvre, before returning the flame to Zidane.

The torch then passed through the hands of sporting legends, each representing the pinnacle of athletic achievement. Tennis stars Rafael Nadal and Serena Williams, track and field icon, Carl Lewis and gymnastics legend, Nadia Comåneci all played their part in this symbolic journey. The final leg saw a relay of French Olympians and Paralympians, culminating in judoka Teddy Riner and sprinter Marie-José Pérec jointly lighting the Olympic cauldron.

the enchanting French capital, stood poised to host the world's greatest sporting spectacle - the 2024 Olympic Games. The air buzzed with anticipation, yet beneath the surface, a series of unsettling events threatened to cast a shadow over the impending celebration of athletic prowess.

the days leading up to the grand opening, Paris found itself

Team Nigeria

Lombardi

Celine Dion

Lady Gaga

ogannah@thewillnews.com