THEWILL NEWSPAPER May 14, 2023

Where are we heading with food in the next twenty years? Research shows that we might be using insects as our source of protein and plant-based proteins. This could result from the increase in population, and to balance the equation, we might end up with things like 3D-printed food.

With the help of biotechnology, we might also see personalised nutrition. Read all about these on pages 12 to 13.

Our cover personality would stop at nothing to become a journalist, but that wasn’t where destiny led her. From wanting to meet with Mo Abudu to interview for a job as a journalist, she ended up auditioning for a movie role which she didn’t pursue. Another opportunity arose for a movie, and she auditioned again, not taking it seriously, and she got the part. Since then, there has been no stopping her in the movie scene. Idia Aisien is undoubtedly making a name for herself, one movie at a time. Read her story on pages 8 through 10.

Can beauty routines help with better mental health? This week’s beauty article says so; you can find out how on page 14.

Downtown Confidential focuses on the science of sexual chemistry. This week, we discussed the different ways of finding out what turns each person on. It’s worth the read on page 7.

Are you scanning the QR codes on page 16?

Until next week enjoy your read.

Photo: Kola Oshalusi @insignamedia Makeup: Zaron

OnahNwachukwu Editor, THEWILL DOWNTOWN

CLASH OF THE BILLIONAIRES

Elumelu Vs Otedola: A Brewing Rivalry

BY SAM DIALA

Boardroom politics and takeovers are hardly a standard fare in the arcane business world. Therefore, they arouse public curiosity when the dealings spill into the public domain. This scenario played out in the case of two powerful Nigerian business tycoons, Femi Otedola, Executive Chairman, Geregu Power Plc and Tony Elumelu, Chairman, Transnational Corporation of Nigeria (Transcorp), who went toe to toe in a complex contest for the control of the Transcorp with a huge war chest.

This battle began around mid-April 2023 when Otedola ventured into Elumelu’s territory by acquiring 5.52 per cent ownership of Transnational Corporation (TransCorp).

The acquisition cost Otedola N3.14 billion (based on the share price of Tuesday, April 11, 2023) and made him one of the major shareholders in TransCorp.

Immediately the acquisition made headlines, analysts predicted a hot chase at Elumelu who had the controlling shares of the diversified investment firm and also chaired the board.

Although Elumelu had welcomed the investor in a manner that suggested he believed in “the more, the merrier”, attitude, subsequent events showed it was really not so.

Within a few days, Elumelu fought back by acquiring an additional 9.7 billion shares in separate deals to ramp up his combined stake in the group to 10.5 billion shares, or 25.9 percent, cementing his position as Transcorp’s main shareholder.

Otedola eventually sold his TransCorp shares with a premium to Elumelu, putting an end to the drama that had played out. But it did not come that easy.

THE TRUCE

Authoritative sources revealed that a truce was brokered by influential personalities in the business and political

circles, including mutual friends led by Africa’s richest man, Aliko Dangote.

By that intervention, the battle for the ownership of Nigeria's biggest conglomerate between two of Nigeria's finest business tycoons, Elumelu and Otedola, finally came to an end as Otedola sold his TransCorp shares with a premium to Elumelu, putting an end to an intriguing corporate drama that has shocked, rocked and rolled Nigeria’s capital markets over the past several days.

According to multiple sources, the two businessmen share many mutual friends which made it possible for the battle for the soul of Transcorp to be brought swiftly under control.

Sources familiar with the matter revealed that when the news first surfaced about two weeks ago, Dangote and other members of their shared social circle began to put pressure on Otedola to abandon his lofty goal of carrying out a hostile takeover of TransCorp, which was Otedola's original plan. He brushed aside the advice.

Sources close to Otedola confirmed that the chairman of Geregu Power was keen on wresting control of Transcorp from Elumelu and was eyeing its lucrative power assets in addition to using the company to take over a sizeable chunk of the growing electricity sector.

For Elumelu, the idea was a wake-up call. Despite the fact that both men share close relationships and call each other brothers, Elumelu was not aware of the move by Otedola to invest in TransCorp as he woke up to the news, just like many others did. He moved fast.

He was said to have invited members of the board of Transcorp to a virtual meeting. As sole administrator to the meeting, he allegedly locked out Otedola and prevented him from making a presentation and contribution to the meeting.

A privileged source, who enjoys proximity to the two

billionaires, claimed on the condition of anonymity that, as a way of settlement, Elumelu made an offer and paid Otedola a 400-percent premium on Transcorp’s closing price on the night of the deal, to acquire his bloc of shares. This would mean that Otedola, who owned 2.6 billion shares, or 6.3 percent of the company, was paid somewhere in the neighborhood of N12.5 per share and walked away with N32.5 billion.

BACKGROUND TO THE ‘WAR’

While Otedola’s publicly traded Geregu Power has one power plant in Kogi State with an installed capacity of 435 MW and boasts a market cap of more than $1.6 billion, TransCorp has two power plants in Delta and Rivers States with a combined capacity of over 2,000 MW, but its market cap sits at less than $300 million.

Analysts had for long maintained that Transcorp was significantly undervalued.

Otedola purchased the underperforming state-owned power asset in 2013, Geregu, with an effective capacity of less than 100 megawatts (MW), and increased its capacity to 435 MW, with 70–80 percent of the power generated being supplied into the grid.

Geregu Power, whose shares have doubled in just six months, recently paid out N20 billion in dividends to its shareholders for the 2022 fiscal year.

Transcorp’s stock, on the other hand, had perpetually languished in the neighbourhood of N1 per share for years, with lacklustre dividends paid over the past few years.

Otedola had already started making demands for board seats on TransCorp’s board and was still buying shares in the company every day at the time he moved into the battle for Transcorp with Elumelu.

REACTIONS WITHIN THE SECTOR

Capital market sources said the battle of huge war chests

...A Brewing Rivalry

between Otedola and Elumelu was akin to a Greenmail, which hinges on a hostile approach to take over a target company.

“Greenmail or greenmailing is the action of purchasing enough shares in a firm to challenge a firm's leadership with the threat of a hostile takeover to force the target company to buy the purchased shares back at a premium,” Dr Paul Uzum, stockbroker had told this newspaper, while confirming that the power play between Otedola and Elumelu had a deeper aspect.

National Coordinator, Pragmatic Shareholders Association, Mrs Bisi Bakare, said the capital market is a free place where people can invest and divest at will. She disagreed that a power play exists in the Otedola-Elumelu transactions.

However, a highly-placed capital market source, who craved anonymity, said, “We have not seen it all until we hear Elumelu’s narrative.”

Uzum had said the development should be taken with some ‘caution’, as there might be more to what was in the public domain.

Speaking on the Otedola-Elumelu feud, Uzum said there could be more to the development than what was at public display because the equities market is a complex ecosystem.

“There is a lot about the equities market. It is deep and complex. Those who put their huge money in that place are not just ordinary people. Investments could be more than what we see. I do not mean the market operates in a suspicious way. What I mean is that it is deep and complex. We may not be seeing the whole story,” Uzum told THEWILL in a note.

Uzum’s position seems to have been confirmed with recent revelations by Otedola, accusing Elumelu of backstabbing him and cashing in on his most vulnerable moments in business.

Otedola has sold 2.8 million units of his shares in the Geregu power generation company, where he is holding the majority stake. According to data from the Nigerian Exchange, he offloaded the shares via two transactions executed on different dates.

The transaction documentation showed that the first sale batch involved 1.9 million shares sold at N288.9 each on May 8; while the second was 948,092 shares sold at N290.7 per unit

The deals were sealed on May 9, according to a regulatory filing with the Nigerian Exchange, and both summed up to N817.3 million.

A separate share dealing document at the Nigerian Exchange on Wednesday showed that Paul Olurotimi Otedola, the sibling of the energy tycoon, procured 300,000 units of the company’s shares at N288.9 per unit on May 8. Paul Otedola’s interest in the company now totals 4 million shares, having acquired 3.7 million shares earlier this year at N809.2 million.

THEWILL recalls that Otedola had divested his 6.3 percent substantial stake in Transnational Corporation Plc, a conglomerate with interest in power generation, to Elumelu after a week of off-market share purchases.

A top stockbroker, who did not want his name disclosed, told THEWILL last Thursday that the disposal of Otedola’s shares in Geregu Power was a strategy nobody could explain in view of the “battle for financial supremacy between him and Elumelu”. Other sources however said it was a way of empowering his brothers.

ELUMELU CONSOLIDATES

Unmoved by the public accusations by Otedola, Elumelu, as chair of Transcorp Power, on Monday, received the discharge certificate of the Ughelli power plant from the Bureau of Public Enterprise (BPE).

The discharge came one month after the National Council on Privatisation approved the recommendations of the BPE that Ughelli Power Plc be delisted from routine monitoring, having satisfied five core post-acquisition requirements.

The requirements include available capacity, capital expenditure, human resources, health, safety and environment and corporate social responsibility.

Commissioned in 1966 with an installed capacity of

972MW, the Ughelli Power Plant, whose capacity had dropped to 300MW, became an asset of Transnational Corporation of Nigeria Plc in 2013 under the company’s power subsidiary, Transcorp Ughelli Power Limited.

Transnational Corporation (Transcorp) is on the verge of increasing its share of the Nigerian electricity market, following the pre-qualification of its power subsidiary, TransCorp Power, to acquire the Abuja Electricity Distribution Company (AEDC).

When the transaction finally closes, the corporation will add the power distribution firm to the previously owned TransAfam, a generating company with an installed capacity of 1,000mw.

Vice-President Yemi Osinbajo hinted at the prequalification at the Tuesday inauguration of the 240-watt Afam 3 power plant in Rivers State, stating the National Council on Privatisation (NCP) had formally approved TransCorp Power Consortium as the preferred bidder for the Abuja Disco.

According to observers, the acquisition will make the Abuja power firm to focus on better service delivery to its customers. It will also make TransCorp Power, a real competitor in the power sector.

Although details of the bidding for AEDC are still sketchy, sources at the Bureau of Public Enterprises (BPE) said it would be made public in the coming days.

The path to the soul of AEDC by Transcorp is made easier by the December 2021 take-over of the power firm by the United Bank for Africa, a bank that is chaired by Tony Elumelu, who also chairs the TransCorp Group, over the inability of its core investor, Kann Consortium to service the $122 million debt it owed the bank.

Kann Consortium secured a loan in 2013 from the UBA to acquire the Abuja Electricity Distribution Company (AEDC) during the privatisation programme, making it the core investor with a 60 per cent stake.

In April 2023 however, the bank said it would be selling the AEDC to recover the $122 million debt.

AEDC’s franchise area covers the Federal Capital Territory, Niger, Kogi, and Nasarawa States with a total land mass of 133,000 square kilometres. Its addition to the TransCorp basket will move the conglomerate to live its vision, which is to take over the market space from foreign firms and make money for Nigerians by providing the needed services.

KEY POINTS

The speed of the transaction which, perhaps, is to block incursions from outsiders and also consolidate TransCorp’s position in the power sector, is seen as a response from Elumelu to Otedola, who accused the former of backstabbing him.

Otedola had also said he offered N250 billion for shares of TransCorp last month to unlock the corporation’s full potential and create value for shareholders, but his offer was rejected.

Events of the last month, up to the present day, have turned TransCorp into a bull in the market, having survived the scare of take-over by Otedola, an action that has pushed its board and management to move stealthily to increase its share of the electricity market in Nigeria.

Within days, it received the discharge certificate from the NCP, followed it up with the commissioning of the Afam 3 power plant and the latest, which is the pre-qualification to buy the AEDC.

As if summarising it all, Osinbajo had said, “I can say that the last few days belong to TransCorp Power because, at the meeting of the National Council on Privatisation, TransCorp Power Consortium was approved as the preferred bidder of the acquisition of the Abuja Electricity Distribution Company.

“Only on Monday, the NCP formally delisted TransCorp Power Plc, formerly known as Ughelli Power Plc, from routine monitoring and evaluation by the Bureau for Public Enterprise (BPE), indicating yet another successful power investment.”

The major problem of the country’s power sector is inadequate cash injections, and it is believed that the relationship between TransCorp and UBA will provide the required solution in this regard.

The Central Bank of Nigeria (CBN) has also tried in this area, supporting the sector in five years with N1.3 trillion as of March 2022 through its various intervention programmes. However, investors in the sector are now expected to inject new money for a better industry.

Osinbajo lauded the TransCorp Group for its incursion into the market stating, “From the time we started, indigenous firms like TransCorp Power and Heirs Holding have been making significant investments, such as this 100 per cent acquisition of Afam Power Plc and Afam Three Fast Power Limited, jointly referred to as Afam GenCo’.

OTEDOLA MOVES ON

Earlier this year, Otedola sold five percent of Geregu Power to Africa’s supranational bank, Africa Export and Import Bank (Afreximbank). According to a document released on February 21, 2023, Africa Export and Import Bank bought the shares through its subsidiary, Fund for Export Development in Africa (FEDA).

Fund for Export Development in Africa, which is an impact development unit of the bank, concluded the share acquisition on Tuesday, February 21, 2023.

The shares were acquired five months after Otedola listed the shares of Geregu Power on the stock market of the Nigerian Exchange Limited (NGX) in October 2022.

Fund for Export Development in Africa announced last year that it intends to acquire a strategic minority stake in Otedola’s firm.

FEDA said the investment would help to develop the electricity industry through Geregu Power, which is eyeing one of Nigeria’s national assets.

In the document announcing the acquisition, Geregu wrote: “Geregu Power Plc (the Company) hereby notifies the Exchange and the investing public of the purchase of 5 per cent of its shares by the Fund for Export Development in Africa (FEDA). FEDA is the impact development arm of the Africa Export and Import Bank (Afreximbank).

“The purchase of the shares was concluded today the 21st of February 2023 with the purchase agreed on the 21st of December 2022. With this purchase FEDA now currently holds 5% of Geregu Power Plc Shares.”

The noted disclosed that Geregu was planning to acquire one of the power generation companies on sale from the Bureau of Public Enterprises (BPE).

It said BPE was weighing bidders for the sale of five National Integrated Power Projects (NIPPs), one of which is Geregu Generation Company Limited located in Kogi State.

Otedola’s investment vehicle, Amperion Power, the majority shareholder of Geregu Power Plc, is eyeing the Geregu Generation Company to expand the current Geregu Power capacity.

However, Otedola’s recent revelations suggest that the cold relationship between the two associates has Continues on Page 7

There is a lot about the equities market. It is deep and complex. Those who put their huge money in that place are not just ordinary people. Investments could be more than what we see. I do not mean the market operates in a suspicious way. What I mean is that it is deep and complex. We may not be seeing the whole story

US Goes Tough on Illegal Immigration

BY AINA OJONUGA

The United States declared on Thursday that it will stick to its immigration enforcement efforts by dealing decisively with illegal entry into the country, especially through unapproved routes.

Secretary of Homeland Security, Alejandro N. Mayorkas, made this position clear in a statement obtained by THEWILL . "Henceforth, people who arrive at the border without using a lawful pathway will be presumed ineligible for asylum. We are ready to humanely process and remove people without a legal basis to remain in the U.S. We have 24,000 Border Patrol Agents and Officers at the Southwest Border and have surged thousands of troops and contractors, and over a thousand asylum officers to help enforce our laws. " the statement quoted Mayorkas as saying.

Lawyer Raises Alarm Over Venue of C’ River Election Tribunal Sitting

ASenior Advocate of Nigeria, Murtala Abdulrasheed, has raised alarm over the poor state of a Calabar High Court, venue of a scheduled sitting of the Cross River State Election Petitions Tribunal.

Abdulrasheed made this known during the inaugural sitting of the second panel of judges that will hear some cases arising from the national and state assembly elections in the state capital.

The lawyer said the venue was not conducive for the crucial task at hand, describing it as a dangerous health hazard for members of the bar.

In his words, "No matter the capacity you may have, if the environment is not enabling, your productivity will be affected. I have observed and I have been privileged to attend Inaugural sittings in other places, my Lord, this court, thus venue is not conducive for the arduous task you have come here to do. All we have here are broken chairs and ceiling. The fans are not working and the environment is overgrown with weeds. This can be a flourishing ground for dangerous reptiles. "If we have two cases today in this venue, it

Continued from Page 6

will constitute a dangerous health hazard for us. This venue will adversely affect the dispensation of justice because the judges are also human beings.They need a conducive environment to dispense justice to all manner of people.

"The tribunal must be made conducive for lawyers and judges to come and practice their trade.

"My appeal on behalf of the inner bar is that the observation be escalated to the constituting authority so we can have a better venue that will be enabling for us to carry out our assignment", the senior advocate said.Responding, the Chairman of the panel, Justice M.A. Sambo said the observation was good, but the assignment must be carried out to save time.

He said, "This assignment must be done, whether there is a venue or no venue.

We are all aware there is nothing like extension. This experience is nothing to us as we have worked in various jurisdictions. Some of them are either better or worse than this. It is a good observation and we are grateful for your comment, we will do our best in trying to see that our welfare is secured."

...A Brewing Rivalry

deepened, even as they each consolidate their businesses.

When people thought the ‘hostility’ was over and could be spoken of in past tense, a new vista opened when Otedola went public to expose the anatomy of his relationship with Elumelu spanning about two decades.

In his first public intervention in the recent battle for the soul of TransCorp last Wednesday, Otedola accused Elumelu of backstabbing him and being in the trail to pull him down. Otedola made reference to various alleged acts of backstabbing by Elumelu dating back to 15 years.

Kogi Targets Largest Production of Cashew in Africa

Kogi State Government said on Friday that the state has maintained a clear lead in the production of cashew in Nigeria, linking the feat to sound agricultural policies.

Commissioner for Information and Communications in the state, Kingsley Fanwo, who disclosed this to journalists in Lokoja, added that efforts were on top gear to make Kogi the cashew hub of Africa.

He said, "Today, Kogi State is the biggest producer of Cashew in Nigeria because of our sound agricultural policies geared towards empowering farmers with improved seedlings, mechanisation, agro chemicals as well as creating an enabling environment for the private sector to invest in Cashew production.

"Kogi has retained this position for many years and our ambition is to push Nigeria's production level above that of Ivory Coast, which is the leading Cashew producer in the world.

"The administration of Alhaji Yahaya Bello is scaling up the gear to improving the value chain in cashew production in the state.

"Do not believe the lies of smugglers. The border is not open. People who do not use available lawful pathways to enter the U.S. now face tougher consequences, including a minimum five-year ban on re-entry and potential criminal prosecution. Together with our partners throughout the federal government and Western Hemisphere, we are prepared for this transition."

No Short Cut to Wealth, EFCC Chairman Tells Corps Members

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, Thursday charged the youth to embrace hard work and shun the lure of quick and instant wealth. Bawa gave this charge during a sensitisation lecture on the Role of Youths in Curbing Economic and Financial Crimes at the National Youth Service Corps Orientation Camps across the country.

Speaking through Williams Oseghale, Head, Public Affairs Department, Benin Zonal Command at the NYSC Orientation Camp, Okada, Edo State, the EFCC chairman said: "There is no short cut to success. Those who take shortcuts are always cut short. Yahoo yahoo is a crime against humanity and God. It is not a sustainable way of life. The EFCC urges you to be innovative, forward-looking and hard thinkers." He urged the corps members to enlist in the anti-graft army by joining the NYSC/EFCC Anti-Corruption CDS group.

In his recent revelations widely circulated in the media, Otedola opened up on how he went bankrupt in 2008 and was allegedly betrayed by Mr Elumelu.

Otedola revealed that he became Chairman of TransCorp Hotel in 2007 with a shareholding of five per cent and unknown to him, Elumelu gradually started buying shares quietly.

He went further to adduce that in 2008 he went bankrupt in Nigeria and Elumelu proceeded to take his shares in UBA to service the interest on his loans “and he also took over my shares in Africa Finance Corporation where I was the largest shareholder.”

Otedola said, “Shortly after, Albert Okumagba informed me that an American firm wanted to acquire my shares in TransCorp, which I then agreed to sell. However, this supposed American firm turned out to be Tony Elumelu. The revelation of this prompted me to resign as chairman of the hotel.”

The businessman also alleged that in 2012, he told Mr Elumelu about his interest in the Ughelli power plant and the TransCorp chair “quietly went ahead” to outbid him in the acquisition of the plant.

“Years later, in 2012, Tony said he wanted to see me. So we met in my office where I

had previously had a meeting with some foreign investors who had not yet departed the premises,” he had explained.

“Curious to know, he asked what sort of meeting I had just had and I disclosed that I wanted to go into the power business, specifically Ughelli Power Plant. Tony quietly went ahead to bid for Ughelli and he outbid me by offering to buy the plant for $300 million,” Otedola revealed.

Efforts to reach Elumelu for comments were not successful as he did not respond to calls and text messages sent to his phone. When contacted, Otedola said the matter is now an 'old story'.

L-R: Water Resources Minister, Engineer Suleiman Adamu; Vice President Yemi Osinbajo SAN; Kano State Governor, Abdullahi Umar Ganduje and others during the commissioning of the 14,444 HA Kano River Irrigation Scheme in Bunkure LGA, Kano State on May 12, 2023.

FROM BASSEY ANIEKAN, CALABAR

FROM SEGUN AYINDE, ABEOKUTA

We’ll Revive Police SRS to Deal With Criminal Elements – Makinde

Oyo State governor, ‘Seyi Makinde, declared on Thursday, that his administration would revive the Police Swift Response Squad (SRS) in the first 100 days of his second term in office, adding that such a step will help deal with criminal elements in the state.

The governor stated this while hosting the new Assistant Inspector-General of Police (AIG) in charge of Zone 1I, which covers Oyo and Osun States, AIG Sikiru Akande, at the Governor's Office, Secretariat, Ibadan.

A statement by the Chief Press Secretary to the governor, Mr Taiwo Adisa, indicated that the governor commended the efforts of all the security agencies during the last general election in the state, which was adjudged the most peaceful election in Nigeria.

Alia Thumbs up Buhari, Pledges

Collaboration

With TETFund For Better Benue

FROM GEORGE MARTINS, MAKURDI

Governor-elect for Benue State, Revd Fr Hyacinth Alia, has praised President Muhammadu Buhari for the giant stride that his administration has made in Nigerian universities over the years.

Fr Alia fielded questions from journalists after he accompanied the Minister of Special Duties and Intergovernmental Affairs, Senator George Akume, who inaugurated six projects sponsored by TETFund at the Benue State University, Makurdi, on Thursday.

"With the quality and number of projects executed here, it is a lead way to great things to come to Benue state. I'm therefore, looking forward for collaboration with TETFund and other development partners as soon as I take oath of office in some few days to come", he assured.

Group Advocates Passage of Gender Bills

In his remarks, the Executive Secretary of TETFund, Arc Sonny Echono, noted that the Fund was committed in infrastructure and development of human capital which he said is an aspect of its mandate in terms of entrepreneurship for promoting innovation.

"Investments are been channelled in this direction and I can confirm that in the area of agriculture research development at Joseph Sarwuan Tarka university and two others have been selected in the country for interventions in scientific laboratory model demonstration farms." He stressed the need for the incoming administration of Revd Fr Hycinth Alia to link Benue state with the central government to ensure that development will be attracted for the good of the state.

Nigeria Ranks Second Highest in Maternal Deaths Globally

Nigeria accounts for 29 percent of the global toll in 290,000 maternal deaths cases every year, the World Health Organisation (WHO), has disclosed in a new report.

The report tagged the 2023 Progress Report, ranked Nigeria as second highest among countries with a high number of maternal deaths in the world. The country also ranked highest globally in incidences of neonatal and child deaths. It also highlighted 8 other countries with high maternal, neonatal and stillbirths including Pakistan, the Democratic Republic of the Congo, Ethiopia, Bangladesh, China, Indonesia, Afghanistan and the United Republic of Tanzania.

The report showed that maternal and

infant mortality rates in Nigeria have stagnated since 2015, approximately occurring every year.

WHO, however, warned that based on current trends, over 60 countries, including Nigeria, may miss maternal, newborn, and stillborn mortality reduction targets set in the Sustainable Development Goals by 2030.

The report, which blamed the trend on disruptions by the COVID-19 pandemic, also showed that Nigeria took the second position as more women continued to die from pregnancy-related problems in the last three years.

Other factors of concern include growing poverty, worsening humanitarian conditions and inadequate funding bedevilling countries across the globe.

Women Advocates Research and Documentation Centre (WARDC), a non-profit civil rights organisation, has urged the National Assembly to consider passing the five gender bills into law as part of the ongoing constitution amendment. WARDC, in collaboration with USAID and SCALE/PALLADIUM, made the call at a knowledge-building roundtable for media professionals in Lagos State.

The News Agency of Nigeria (NAN) reports that the bills are aimed at greater constitutional inclusion of gender/ women’s rights.

The bills are seeking, among other things, affirmative actions in political party administration and ministerial and commissionership appointments. They also seek expansion of the scope of citizenship by registration. Recall that WARDC and some other women groups and private individuals had stormed the National Assembly in March 2022, demanding the passage of the gender bills.

The Executive Director of WARDC, Dr Abiola Akioyode-Afolabi, said that one of the bills sought reservation of 111 seats to women in the National Assembly to address the low representation of women.

“The National Assembly should ensure affirmative action for women in political party administration to enable more women participation and voice,’’ she said.

She noted that one of the bills sought granting of citizenship to foreign husbands of Nigerian women, adding that one of the bills sought allocation of at least 10 per cent of ministerial positions to women.

“The fifth bill sought to ensure indigeneship rights to women to avoid the discrimination and violence women suffer in a bid to participate effectively in society”, she further said.

Governor Makinde, who lauded the security agencies for maintaining peace and order before, during and after the polls, equally commended the Commissioner of Police, Oyo State Command, Adebowale Williams and his team for their unrelenting efforts and commitment towards protecting the lives and properties of the people of the state. According to the governor, his administration will continue to work with the Nigeria Police and other security agencies to improve security in the state.

He said: "It is home coming for you. Let me use this opportunity to say thank you to the Commissioner of Police and his team in Oyo State. Whether my day will be good or bad usually depends on whatever message I receive from him at 6 a.m. Since he came on board, I have been having nil ugly incidents for a sizable number of times. I believe you must have been receiving a lot of support from the zone. "Therefore, I appreciate the efforts of the officers and men of the zone.

“Also, let me officially commend the role played by the Nigeria Police during the election, especially in Oyo State. When I went out to vote, I observed the atmosphere was conducive as nobody was chasing after anybody. And by 4 p.m. of the following day, the official announcement was made and everything was over and none of the major parties went to court to seek redress. I can only thank you and other security agencies in Oyo State that gave us that conducive atmosphere.

“I have had comments from all around the country, telling me that this should be the model for electioneering and elections in the country. You all put in the hard work."

Governor Makinde equally lauded the cooperation among security agencies in the state, saying: "The cooperation among the security agencies in Oyo State has been second to none. Instead of rivalry, we see all of them working together, which is because of the heads of those agencies.

"So, I cannot thank you enough. Whatever we have to do with our economy around education, health, tourism and all that can only take place in an atmosphere that is safe and secure, and that exists in Oyo State.

“When we came in, within our 100 days, we revived SRS and provided 100 KIA vehicles for them. Now, the people have given us another mandate. When they swear us in on May 29th, we will repeat the same thing within the 100 days of our second coming so that we can also use that to chase criminals out of the state,” he said.

Earlier in his remark, AIG Akande said the purpose of the visit was to formally inform the governor of his arrival as the new AIG Zone 1I and to also appreciate him and the citizens of the state for accommodating and supporting the Nigeria Police.

Simon Tumba, CEO of SY&T Communications Ltd (second left) being presented an award for his services to the Nigerian Aviation industry in the Media by the President, Aviation Round Table Initiative, Dr. Gbenga Olowo (third from left) at a book launch which held in Lagos recently. With him are the authors, Wole Shadare (first left) and Gboyega Adeoye (extreme right); his wife, Olayemi.

Buhari Celebrates Osun Governor at 63

BY DAVID OWEI

President Muhammadu Buhari has congratulated Osun State Governor, Senator Ademola Adeleke, as he celebrates his 63rd birthday on May 13,.

President Buhari affirmed that Adeleke, who represented Osun-West in the Upper Chamber of the National Assembly, solidified his base and gradually built a formidable network of friends and political allies that have helped his many victories, including leading one of the 36 states in the country.

A statement signed by Femi Adesina, Special Adviser to the President on

Media and Publicity, said that Buhari believed that Adeleke’s easygoing outlook on life had turned into an asset, with a huge following that cut across all ages.

He urged the governor, whose victory was recently validated by the Supreme Court, to place the interest of Osun and the welfare of the people above all else and seek God's guidance to deliver on his mandate.

The President prayed that the Almighty God would grant Adeleke the strength, wisdom and courage to serve his people and the nation.

Edo Recommits to Building Capacity of Staff, Improving Welfare

The Edo State Government has reaffirmed its commitment to building the capacity of civil and public servants, ensuring improved welfare and a conducive working environment for the workers to enhance productivity.

The Edo State Head of Service, Anthony Okungbowa Esq. gave the assurance when he received members of the Association of National Accountants of Nigeria (ANAN), Edo State Chapter, who were on a courtesy visit to his office, at the Government House, Benin City.

Okungbowa said the state government under the leadership of Governor Godwin Obaseki, has in the past six years embarked on a series of reforms in the civil and public service to boost worker’s morale and productivity, ensuring they are provided with the knowledge, skills, and tools to deliver quality service to the people.

Noting that the government has sustained investment in the welfare, training, and development of the workers, the Head of Service stated, "I must say without any fear of contradiction that the Edo civil and public service is the best in Nigeria. We owe all of that to the vision of His Excellency, the Governor. He leads the way and we just follow.”

OMG Regional CEO, Tolu Ogunkoya, Dies in London

The Regional Chief Executive Officer of Omnicom Media Group (OMG) West and Central Africa (WeCA), Tolu Ogunkoya has passed on, leaving behind an indelible footprint in the marketing communication industry.

Ogunkoya passed on in the United Kingdom on Tuesday, April 25, 2023., according to his family.

Nigerian Pharmacy PhD Student Receives Martin Lawlor Research Bursary Award

An international PhD student from the University of Huddersfield 's Department of Pharmacy in the School of Applied Sciences has won a prestigious award for her research on how community pharmacies can contribute to preventing suicide in low and middle-income countries, in particular within her home country of Nigeria.

Until his death, he was the Chairman of the 15-Member Ministerial Task Team set up by the Honourable Minister of Information & Culture in January 2022, to fashion out and implement five fundamental reforms that would ensure the recovery of the advertising and broadcast sectors in Nigeria, within the next few years, working closely with the Director-Generals of ARCON and the Nigerian Broadcasting Commission (NBC). A Fellow of the Advertising Regulatory Council of Nigeria (ARCON) formerly [APCON], Ogunkoya was inducted as the 87th Fellow of the practice in Nigeria in 2010.

He was a Council Member and Fellow of the Institute of Directors (IOD) Nigeria, an alumni member of the Lagos Business School & the Ashridge Business School in Berkhamsted, UK.

The late Ogunkoya started his advertising career 33years ago at the then called Insight Communications and distinguished himself as a thoughtful and reliable young executive.

He was at SO&U for almost 10 years, where he became a key member of the leadership team working simultaneously as the Media Lead for the Agency, when he headed an Account Service Team.

He highlighted some of the achievements by the state government in the service including the implementation of the N40,000 minimum wage, prompt and regular payment of salaries and pensions, training and retraining of workers, conducive workplace, the recent approval of the 13th-month salary for Edo workers, among others.

According to him, "Because of the governor's commitment to the welfare of Edo workers, all these have been achieved at a time some state governments are unable to pay the N30,000 minimum wage. "Mr. Governor has constantly put measures in place to ensure that the civil/public service which is the engine of government is strengthened.”

Okungbowa noted the Governor has put measures in place to ensure that every student of Edo extraction with a first class is automatically employed into service as part of efforts to populate the service with quality manpower.

Earlier, the Chairman of ANAN, Edo State Chapter, Mr. Austin Odigie, commended the state government for its sustained investment in the welfare and wellbeing of workers in the state, assuring the continued support and partnership of the association.

Somto Chike-Obuekwe has been bestowed the Martin Lawlor Research Bursary Award, a prestigious bursary conferred by Martin Lawlor's family and supported by the UK's leading research programme into suicide prevention in clinical services, the 'National Confidential Inquiry into Suicide and Safety in Mental Health' (NCISH) and the mental health charity 'State of Mind Sport'.

Dr Martin Lawlor was a Consultant Forensic Psychiatrist who specialised in self-harm and suicide research and was a friend and colleague of the NCISH. The award supports early career researchers in the UK and Ireland to expand their knowledge and improve wider understanding of and practice in self-harm or suicide prevention and provides an opportunity to engage with other researchers in self-harm and suicide prevention.

Somto will be using the award to attend the 32nd World Congress by the 'International Association for Suicide Prevention (IASP)' in Piran, Slovenia from 19 - 23 September 2023 and said she is looking forward to presenting her findings on the contribution of community pharmacists in suicide prevention in Nigeria with delegates at the conference.

Early 1999, he was head hunted and became the pioneer CEO of MediaReach Nigeria (now known as mediaReach OMD). At the organisation, Ogunkoya assembled and led a team of determined advertising executives to set standards by which the industry now leverage.

With his team at mediaReach OMD, he set new standard of professionalism, driven by technology and innovations in the practice of media strategy, planning, buying and implementation in Nigeria, and the West African sub-region.

Under his leadership, mediaReach OMD introduced the Nigerian Media Facts Book in 2001, which has become the industry bible for media audience data and trends for the Nigeria Marketing Communications Industry. The scope of the publication was later expanded in 2006 to cover countries in West & Central Africa, written in English & French as “Nigeria/West & Central Africa Media Facts Book.”

The marketing communication guru, was bestowed with numerous laurels and commendations including the MIPAN’s Outstanding Advertising Media Personality (OMP) for three decades in 2021, TIES –The Industry Award 2020 – Lifetime Award Winner (of three recipients in 2020), and the Brand Journalist Association of Nigeria (BJAN) Excellence Award 2018 as the Most Professional Media Practitioner in Nigeria. Other achievements include the Outstanding Contributor to the Media Industry in the Marketing Award 2016, the Success Digest Enterprise Award, and the Male Entrepreneur of the Year 2011, His legacy in the integrated marketing communication industry especially, media independence (strategy and management) remains indelible.

L-R: Former President, Chief Olusegun Obasanjo and Anambra State Governor, Prof. Chukwuma Charles Soludo, during the funeral service of Late Deaconess Nneka Victoria Chidoka, (mother of former Minister of Aviation, Chief Osita Chidoka), held at St. Andrews Anglican Church, Obosi, Anambra State on May 12, 2023.

POLITICS

10th NASS Leadership Zoning Tears APC Apart

BY AYO ESAN

The ruling All Progressives Congress (APC) is currently in crisis due to the zoning and consensus on the 10th National Assembly leadership.

Perhaps, it was to forestall the brewing crisis that caused the National Chairman of the party, Abdullahi Adamu, to make a U-Turn last Thursday when he said the party would go back to the drawing board with a view to reviewing the zoning formula already adopted for the 10th National Assembly leadership.

Adamu bowed to pressure that had arisen from different aspirants who threatened to ensure a repeat of what happened in 2015 when Senator Bukola Saraki and Rt. Hon. Dogara mobilised members of the opposition, led by the PDP, to get elected as Senate President and Speaker of the House of Representatives, respectively.

Adamu gave aspirants for the senate presidency, who stormed the secretariat on Thursday in protest, the assurance that a review would be carried out because the zoning list was flawed and it was drafted without adequate consultation.

The National Working Committee, NWC, had last Monday zoned the position of Senate President of the incoming Senate to the South-South geopolitical zone and the position of Speaker of the House of Representatives to the North-West.

The party also zoned the positions of Deputy Senate President and Deputy Speaker of the House of Representatives to the North-West and South-East, respectively.

Specifically, the party said it adopted the zoning template and candidates of its President-Elect, Asiwaju Bola Tinubu and settled for Senators Godswill Akpabio and Barau Jubrin for Senate President and Deputy Senate President, respectively, as well as adopting Hon. Abass Tajudeen and Ben Kalu for Speaker and

Deputy Speaker of the House of Representatives. Although the zoning arrangement was welcomed by some stakeholders in the party, many others, especially those aspiring for the leadership positions, rejected and vowed to work against it.

The aspirants for the position of Senate President, who stormed the party’s Secretariat and met with the National Working Committee last Thursday include former Zamfara State Governor and Senator-elect, Abdulaziz Yari; Senator Sani Musa; Senator and former Governor of Abia State and Senate Chief Whip , Orji Uzor-Kalu, as well as Senator Sadiq Umar.

These senators threatened to disobey the party’s directive on the current zoning arrangement, if it is not reviewed. They submitted a letter and asked the NWC to correct the mistakes on the zoning formula or face the consequences.

Responding, Adamu admitted that the zoning policy was done without adequate consultation. He appealed

to the lawmakers to wait for the final outcome of another meeting when the President-elect, Bola Tinubu, returns to the country, saying this time around, consultation would be enlarged.

Adamu said, “As chairman of the APC, I take responsibility for what has gone on air. I take absolute responsibility for that. Yes, there was no sufficient or adequate consultation with you who are contesting and it is simple principle of democracy that you get views and opinions. But the circumstances that we found ourselves in after the elections frustrated our desire.

“We will go back to the drawing board. We owe our party that duty to take a look whether what was done cannot be changed: what was done needs some changes or reviews.

“Hold your fire until the last word is heard from us. We are the custodians of the party as NWC, but we are not acting alone. The voice of the president-elect is an essential voice. We must accommodate him, the best we can. I will not compromise on that.

“He is right now outside the country and by the grace of God, when he comes back we will go back to the drawing board and put our hearts together again and see what we will get.

“I cannot preempt that. I will wait until we hold that meeting with the President-elect, the same team that we had the same meeting with. If we need to enlarge the committee we will do so we will better-informed through contributions that will be made,” he said.

He further said that the agitation of the North-Central geopolitical zone for reward having voted massively for the party was genuine and would be looked into.

“On the issue of the North-Central, I remain tongue-

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Although the zoning arrangement was welcomed by some stakeholders in the party, many others, especially those aspiring for the leadership positions, rejected and vowed to work against it

Tinubu

Adamu

...Leadership Zoning Tears APC Apart

urgency, jettison the arrangements they described as unacceptable.

According to them, only the North-Central did not produce any presiding officer.

The letter by the lawmakers-elect entitled, “Resolution of the North Central Caucus of the 10th Senate on NASS Leadership Zoning, was signed by 18 Senatorselect.

The letter read in part: “We the North-Central Senators-elect Caucus met on Monday, May 8, 2023, and resolved as follows:

“That the North-Central as a geopolitical zone in Nigeria has paid its dues in the political stability of the country and shall continue to do so, but where we see the open denial of our rights and privileges, we will have no option than to voice out in the interest of the zone and its people we represent.

“It is pertinent to know that we are fully committed to supporting the incoming administration of the President-elect, Asiwaju Tinubu for a better Nigeria. This can only happen if fairness, equity and justice are ensured. It is on record that the North-Central gave the APC 41 per cent of her votes to victory, hence we equally deserve it as others.

tied talking about the geopolitical zone. Your argument is extremely plausible. I assure you, we will take a look at it along what has been given to the public.”

Last Wednesday, speakership aspirants referred to as the G7 took their grievances on the party’s position to the NWC with a threat that the party should be prepared for a repeat of what happened in 2015 when those that were endorsed for the NASS leadership positions could not emerge as presiding officers.

It is believed that many members of the NWC are not happy with the micro-zoning of the positions. The zoning template, THEWILL gathered, was not unanimously adopted by all the members of the NWC. While many did not exactly oppose Tinubu’s choice of geopolitical zones, they were said to have kicked against the micro-zoning of the leadership positions.

“It was indeed the thinking of some of us that anyone from the zones, to which a particular office has been allocated, can contest. We did not want a situation where positions would be given to individuals. This was why we also advised that there should be further consultations,” said an aggrieved member.

He expressed concern that other aggressive contestants, particularly in the House of Representatives could team up to produce a formidable opposition to the adopted candidate, Tajudeen Abbas.

North West/North Central Positions

Some APC stakeholders in the North-West are not happy with the speakership of the House of Reps and deputy senate presidency slots allotted to them. According to them, the North-West gave Tinubu the highest number of votes and they felt that any of the two senators-elect from the zone – the current chairman of the Senate Committee on Appropriation, Jibrin, representing Kano-North district, and former governor Abdulaziz Yari, vying for the Senate President’s seat should be allowed to be senate president.

Insisting on producing the Senate President, the NorthWest APC stakeholders said: “Tinubu, candidate of the APC in the 2023 presidential election, is now the president-elect, courtesy of the magnanimity and loyalty of the North-West, which gave him the highest votes in the election, followed by the South-West. Without the North-West, therefore, there would not be a Tinubu presidency.

“Denying the North-West the senate presidency will be akin to testing the loyalty of the region and its people, and ultimately, it will come with dire political consequences.”

In like manner, Senators- elect from the North-Central kicked against the APC zoning template, saying it would not stand the test of time.

The Senators-elect from different political parties in the zone, who rejected the zoning arrangements for the 10th National Assembly leadership, had written a letter of protest to the Senator Abdullahi Adamuled NWC, calling on the party to, as a matter of

“Our caucus reviewed the proposed zoning structure released, and we are not pleased and comfortable with the allocation of the positions of the Deputy Senate President and the Speaker of the House of Representatives of the 10th National Assembly to a particular geopolitical zone of the country (NorthWest), we hereby reject it.

“The convention has always been that the six geopolitical zones of the country will have one each of the six positions.

“Now that the South-West and North-East have produced the President-elect and Vice Presidentelect, respectively, it is only fair and natural that the positions of the Senate President, Deputy Senate President, Speaker and Deputy Speaker of the House of Representatives should be shared among the other four geopolitical zones, that is the North-Central, South-South, South-East and North-West.

“Sequel to the above, we, as a caucus, are calling on the APC to immediately retract its earlier decision which schemes us out of the power-sharing formula of the country and cede the position of the Deputy Senate President to the North-Central Zone so as to ensure fairness, equity and justice for a smooth 10th Senate.”

Fear of the opposition parties

The opposition party members are waiting in the wings and monitoring with interest the development in the APC, as regards the consensus arrangement on the position of Senate President, Deputy Senate President, the Speaker and the Deputy Speaker.

In the Senate, the APC has a majority of 59 senators out of 109, leaving all the opposition parties with 50 members. However, if the aggrieved APC members put their number together with 50 opposition senators , the number may be enough to snatch the senate president ticket from the nominee of the APC.

So the best thing for APC is to unite and agree on a candidate for the position of Senate President to stop the opposition from truncating their plan.

The situation in the House of Representatives is worse for the ruling party as the opposition members-elect are in the majority.

They are already forming an alliance, with a view to elect one of their fold as the Speaker of the 10th House of Reps.

The coming days will be interesting as both the APC and the opposition are trying to scheme for the leadership of the 10th National Assembly.

It is believed that many members of the NWC are not happy with the micro-zoning of the positions

Akpabio

Yari

Kalu

POLITICS

Adeleke: Supreme Court Victory And Task Ahead

BY AYO ESAN

Last Tuesday, a five-member panel of the apex court affirmed the judgement of the Court of Appeal that reinstated Ademola Adeleke as Governor of Osun State.

Delivering judgment in the appeal by Gboyega Oyetola of the All Progressives Congress (APC), Justice Emmanuel Agim, who read the lead judgment, said the appellant and his party failed to tender relevant materials, such as the Bimodal Voter Accreditation System (BVAS), from the 744 polling units in the state and the Independent National Electoral Commission (INEC) Voters Register or form EC8A showing the number of votes cast at each unit.

The Supreme Court held that Adeleke was the duly elected governor of Osun State.

The apex court, which said it found no reason to set aside the verdict of the Court of Appeal in Adeleke’s favour, also awarded N500, 000 damages against Oyetola and the APC.

The apex court held that though Oyetola alleged that Adeleke won through over-voting in 744 polling units in the state, the ex-governor failed to adduce any substantial evidence to support his claim.

“It is glaring that the appellant did not provide in evidence any BVAS, but sought to prove over-voting by means of a report of examination of INEC’s database or backend server,” the court said.

In his reaction, Adeleke said the victory emphasised that “the will of the people ordained by God survives the anti-masses plot of powerful forces”.

He thanked the residents of the state for their support and promised to be “a truly pro-people governor”.

He said, “State power is of God and He bestows it on whoever he wills. I will remain God-driven, divinely inspired and govern with the fear of God.

“Our governorship is an affirmation that a government of the people, by the people and for the people is possible.

“Our victory is a testimony that people’s will, backed by divine will, can withstand and survive plots of antidemocratic elements.

“To the judiciary, Osun has emerged as a moral compass, affirming the integrity of my lord Justices.

“Your affirmation for truth and the people’s will consolidates and strengthens our democracy. On behalf of the Osun people, we appreciate you, and we adore your love for justice and equity.

“To all stakeholders in the Osun project, be assured that the revalidation of our mandate is a challenge, a call to duty, a fresh demand for more dividends of democracy.

Also, President Muhammadu Buhari in a statement issued by his spokesman, Femi Adesina, acknowledged the court’s decision and praised the significant role played by the judiciary in upholding the rule of law and democracy in Nigeria.

In the statement, Buhari reminded politicians and their supporters that the primary objective is to ensure that the people of Osun State experience the benefits of good governance, which will create a prosperous, peaceful and stable state.

Buhari said that elections should be seen as a means to an end, which is the progress of the people in a peaceful environment, rather than unending bickering.

According to him, this is the time for inclusion and harmony in the state at the end of litigation.

The President noted that Governor Adeleke would continue to explore the abundant resources in Osun and contribute to national development and prosperity.’

He urged all indigenes and residents of the state to support the Ademola Adeleke Administration towards achieving its goals and objectives and is desire to promote the growth of individuals and businesses. Similarly, the President-elect, Bola Tinubu, also congratulated Adeleke.

In a statement by his media aide, Tunde Rahman, Tinubu said, “The apex court in the land has spoken and all of us must obey its verdict. It is the right thing to do for democracy and rule of law to continue to thrive in the land.

Tinubu who also commended the immediate-past governor of the state, Alhaji Adegboyega Oyetola, for exercising his democratic rights as the constitution allows him to do, advised Adeleke to “immediately settle down to work”.

Speaking on the task ahead after the court victory, Adeleke said that his achievements during his 100 days in office showed that he is ready to deliver dividends of democracy to the people of Osun State.

He reiterated that his administration was commited to delivering good governance by fulfilling his campaign promises and satisfying people- oriented needs, adding that ,”in his quest to dish out dividends of democracy to the people, he became blind to party affiliation”.

Talking about achievements in his 100 days, Adeleke said all abandoned property and projects by the previous administration were redefined and completed.

He listed some of the ongoing and completed projects, including the provision of borehole water in each of the 332 wards across the state; construction of 20km roads; presentation of N518m to Communities for infrastructural development; Imole surgical and medical outreach targeted at 2,000 persons in each of the nine Federal Constituencies in the state, making a total of 18,000 beneficiaries who received free surgeries; and rural electrification projects.

Others accomplishments listed include the payment of salaries and pensions arrears owed by the past administration since 2016; enrollment of 3,332 Osun indigenes on the Osun Health Insurance Scheme (OHIS) to ensure adequate healthcare access for the vulnerable for five years; the construction of broken bridges at Bokusoro/Adeleke area in Iwo, among other achievements.

The governor pledged to embark on key projects across the state. He assured workers in the state that all outstanding salaries would be paid in due course. Adeleke called on all stakeholders in the state, including his predecessor, Oyetola, to join him in moving the state forward.

He said the people had started enjoying the dividends of democracy, with what he achieved during his 100 days in office.

“They feel the impact of government already because I promised that my 100 days in office will be a landmark of achievements. It is not going to be business as usual. In my 100 days I have done a lot and that is why during the last general election we were able to win the three senatorial seats, the entire House of Representatives slots and we won 25 seats in the Osun State House of Assembly.

“A lot is going on in Osun. The people love me and I love them more.

He has promised to continue the good work, correct the mistakes of the past and not rest until the state is transformed.

Speaking with THEWILL, Bayo Alamu, a chieftain of the Peoples Democratic Party (PDP), said that with the end of litigation in Osun, Adeleke would settle down to govern the state. According to him, the governor should be thinking of constituting a solid cabinet that will assist him in the administration of the state.

“I will suggest that the governor should, in constituting his cabinet, look for the best brains within and outside his political party, the PDP. The task ahead is huge and he must not fail the people of Osun State.

“He has started very well, but he needs to consolidate on the gains of the first 100 days in office. Infrastructural development of the state must continue on a large scale. The people have put their trust in him and he must not disappoint them,” he said.

Oyetola, in a statement he personally signed after the court’s verdict, charged Adeleke to focus on the delivery of good governance and make the security of the state top priority.

“Adeleke called on all stakeholders in the state, including his predecessor, Oyetola, to join him in moving the state forward

Adeleke

Group Scores Okowa High, Tasks Gov-Elect Oborevwori on Continuity

The Mid-Westerners, a Political Pressure Group, has scored Gov. Ifeanyi Okowa led administration high in governance and effective delivers of dividends of democracy to the people of Delta in the last eight years.

The group, representing the old Bendel (Edo and Delta States) gave the commendation at a news conference on Thursday in Asaba, while setting agenda for the Governor -Elelct, Chief Sheriff Oborevwori, as he steps in come May 29.

The Mid-Westerners in an address signed by its Chairman, Mr. Iwendi Nwaham; Executive Vice Chairman, Prof. David Ejenobo; Secretary, Fidelis Chimokwu and Mr. Kenneth Okwuenu, was read by Prof. Ejenobo.

According to them, the Okowa’s achievements in the state were rather under reported by the media.

They commended Okowa’s achievements in infrastructure, education, health, human capital development, airport transport infrastructure, flood control measures, among others

They said that the achievements were massive and worth sustaining by the incoming administration.

“On assumption of office in 2015, Okowa met a state battling with multifarious economic challenges, least of which was the drastic drop in revenue accruing from crude oil export at the national level.

“To take the state out of its dilemma, he came up with his SMART Agenda and for eight years, Okowa pursued and delivered a “Stronger Delta” agenda.

“In the field of education, he stands tall; he touched the whole gamut of the educational sphere from basic and primary education to tertiary institutions.

“He ensured welfare of teachers,

Oyebanji Marks 200 Days in Office With Stakeholders Engagement

BY AYO ESAN

The Ekiti State Governor, Biodun Oyebanji, has disclosed that his government has injected over N31 billion in terms of salary, gratuity and pension payments to rejig the economy in the last 200 days he assumed office as the state's Chief executive.

Oyebanji added that his government has paid a staggering sum of N6.2 billion as subvention to state's tertiary institutions geared towards strengthening the citadels of learning and make them competitive nationally and with their contemporaries in other climes.

established model technical colleges in all the senatorial districts and has topped it with the establishment of three new/state universities,” they said.

The group added that Okowa was nicknamed “the Road Master” by the people for connecting the rural communities to the urban by constructing over 2,000km of roads and 1,400km of drainage channels across the state.

“Okowa’s achievements in terms of infrastructural development are simply amazing.

”He built the state of the art N18 billion state secretariat, blocked financial leakages, flushed out ghost workers, and repositioned the civil service for effective service delivery,” the group said.

They noted that Okowa’s administration tackled the erosion and massive flooding which before now had wreak havoc in Asaba and environs by investing billion of naira on storm water drains and underground tunnels to empty into the River Niger.

“As we bid farewell to a worthy achiever, we take this opportunity to congratulate the Governor-Elect, Chief Sheriff Oborevwori on his success at the 2023 governorship elections on March 18.

“Gov. Okowa has set the standard, we encourage you to follow. Your M.O.R.E Agenda which has been properly documented and articulated during your campaigns should be your covenant with the people of Delta.

“We encourage our incoming governor to sustain the roads infrastructure, human capital development and to extend the retirement age to 65 years and 40 years in service to all civil servants in the state as effected for the teachers by the federal and Delta government.”, the Group said.

Off Cycle Elections: INEC Urges Nigerians to Scrutinise Candidates’ List

BY AYO ESAN

The Independent National Electoral Commission (INEC) has called on the residents of Bayelsa, Imo and Kogi state to scrutinise the final list of candidates for the Nov. 11, 2023 governorship election in the three states and challenge any false claims by any of the candidates.

INEC National Commissioner and Chairman, Information and Voter Education Committee, Barrister Festus Okoye said this in a statement.

He said that INEC is set to publish the personal particulars of the candidates participating in Imo, Bayelsa and Kogi governorship election. Okoye said that the publication will be done in the state headquarters and local government offices in the three states in line with the provisions of Section 29 (3) of the Electoral Act 2022.

He said that all the 18 political parties nominated candidates for the Kogi, while 17 parties sponsored candidates for Bayelsa and Imo States.

“In particular, any aspirant who participated in his/her party’s primaries with reasonable grounds to believe that the information provided by the candidate is false can challenge the nomination at the Federal High Court as provided in Section 29(5) of the Electoral Act 2022.”

INEC released the Timetable and Schedule of Activities for the three off-cycle Governorship elections in Bayelsa, lmo and Kogi scheduled to hold on Nov. 11 on October 25, 2022.. Political parties conducted their primaries as required by law and uploaded the names and personal particulars of their candidates and running mates to the INEC candidate nomination portal by the deadline of 6pm on May 5.

Okoye said that all the political parties sponsoring candidates for the three elections have submitted the duly completed Forms EC9 containing personal particulars supported by sworn affidavits as well as EC9B containing the names of their candidates.

Governor Oyebanji stated these in Ido -Ekiti , Ido/Osi Local Government area, on Friday, at a stakeholders engagement marking his 200 days in office. The 100 days of governance, had earlier been marked with a similar stakeholders engagement in Ado Ekiti, Ekiti Central Senatorial District in January.

At the occasion attended by critical stakeholders like traditional rulers, traders, labour leaders, transporters, academia, politicians, community leaders, representatives of Parents Teachers Associations, among others, Oyebanji asserted that his government has neither disappointed nor dashed the hope of Ekiti populace in the last 200 days.

The state's Chief executive, said the stakeholders engagement, which is designed as a “state -of -the -state address” was a fulfillment of his covenant with the citizens to render account of stewardships every 100 days in office across the three senatorial districts in alternate order.

Oyebanji explained that aside the payment of salaries, pensions and deductions regularly, another sum of $80 million from the African Development Bank (AfDB) would be injected into the local economy to create more jobs for the youths through the Ekiti Knowledge Zone that has just been granted Free Trade status by the Federal Government.

The Governor identified agriculture, tourism, digital technology, entertainment and sports development as critical to the job creation initiatives of his administration.

Oyebanji disclosed that the Independent Power Project started by the immediate past administration of Dr. Kayode Fayemi would come on stream in July to give uninterrupted power supply to government offices, institutions and streetlights in Ado Ekiti describing the amount being spent on diesel monthly as "unsustainable."

Oyo State Governor, Seyi Makinde (middle); Assistant Inspector General of Police in charge of Zone 11, AIG Sikiru Akande (left) and Oyo State Commissioner of Police, Adebowale Williams, during AIG's visit to Governor's Office in Ibadan.

EDITORIAL

Avoiding a Looming Disaster

he recent warning issued by anti-flooding agencies on the imminence of flooding across the country and their call for mitigation ahead of the impending disaster sounds embarrassing, considering that there was a similar occurrence last year.

Against the backdrop of last year’s devastating flooding that claimed over 600 lives, damaged farmlands, submerged communities, displaced hundreds of citizens and caused a general disruption of social and economic activities, the Nigeria Hydrological Service Agency, NIHSA, the National Emergency Agency, NEMA, and the Nigerian Meteorological Agency, NiMET, jointly warned that disaster awaits 178 local governments in 32 states of the federation and the Federal Capital Territory, FCT, if early preparations were ignored. Expectedly, the same places that witnessed the devastating impact of the 2022 floods are also on the 2023 predictions’ watch list with a few, worrying additions.

They are Lagos, Kaduna, Suleija, Gombe, Yola, Makurdi, Lafia, Asaba, Port Harcourt, Yenagoa, Ibadan, Benin City, Bernin- Kebbi, Sokoto, Lokoja, Maiduguri, Kano, Osogbo, AdoEkiti, Abakaliki, Awka, Nsukka,

Publisher/Editor-in-Chief Austyn Ogannah

Editor – Olaolu Olusina

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Nigeria Bureau: 36AA Remi Fani-Kayode Street, GRA, Ikeja. Lagos, Nigeria. info@thewillnigeria.com / @ THEWILLNG, +234 810 345 2286, +234 913 333 3888.

EDITOR: Olaolu Olusina @OLUSINA

[Letters/Opinions: opinion.letters@thewillnigeria.com]

TCalabar and Owerri.

As usual, the report predicted coastal flooding in Cross River, Delta, Edo, Lagos, Ogun, Ondo, Rivers, and Bayelsa States due to rise in the sea level and tidal surge, which would impact fishing, wildlife habitation and river navigation.

Expatiating further, the Minister of Water Resources, Mr Suleiman Adama, said the forecasts for 2023 showed that 178 LGAs in 32 States of the federation and the FCT fell within the Highly Probable Flood Risk Areas and 224 LGAs in 35 States of the Federation, including the FCT, fell within the Moderately Probable Flood Risk Areas.

Even so, there is no evidence to show that the warning is being taken seriously and last year’s flooding disaster may repeat itself all over again.

In Ogun State, for instance, a heavy rainfall on April 13, 2023 resulted in flash floods in Sagamu and one person reportedly died, while two others were injured. The reports indicated that an unknown number of people were swept away by floodwater, leading to the destruction of an unknown number of structures in Makun Village.

In Lagos, where the Commissioner for the Environment and Water Resources, Mr Tunji Bello, disclosed recently that the 1936.2mm amount of rainfall predicted for 2023 was greater than the long-term average of

1721.48mm experienced in the state in the last 10 years and the insanitary habits of the citizens often frustrate efforts by government to sanitise the environment as drainages and lagoons are often treated as refuse dumps, thereby causing blockages to drainage.

Rainfall is often dreaded by the citizens of the aquatic state

because the accompanying flood can make roads impassable and disrupt traffic for hours on end, causing loss in man hours.

To avoid a repeat of the last year’s flood disaster, we urge the states and the Federal Government to heed the view of the Permanent Secretary in the Ministry of Water Resources when she addressed the negative impact of flood and other disaster before an audience. “Flooding would be drastically reduced if better understanding of flood risks are promoted and ensuring adequate and appropriate mitigating measures are deployed, “ she had said.

To accomplish the preceding noble idea, the government must embark on a massive enlightenment campaign and ensure that the Ecological Fund set aside for such purposes is duly and aggressively implemented.

More so, last year’s flood disaster should serve as a template to avoid a recurrence through prompt action. First responders like the NEMA should be properly equipped and funded to do their work without let or hindrance; NEMA can assist in evacuating those in danger to safe locations until the water recedes to a certain level to support human habitation.

These remedial actions are within the capability of every government and they should feel at liberty to improvise on them as occasion warrants.

In Ogun State, for instance, a heavy rainfall on April 13, 2023 resulted in flash floods in Sagamu and one person reportedly died, while two others were injured. The reports indicated that an unknown number of people were swept away by floodwater, leading to the destruction of an unknown number of structures in Makun Village

OPINION

Judiciary on Trial: Televising Tribunal Proceedings to The Rescue?

BY MAGNUS ONYIBE

For too long, Nigeria and Nigerians have been choked by myriads of constraints and restraints put on them like a harness affixed on a horse to curtail its freedom, enabling the rider to control it. And it is a pity that, like a horse, the country appears to have been ridden by a rough rider instead of an expert jockey. That is why it is literally on the verge of falling off the cliff – politically, economically and socially by way of disunity.

Clearly, as a democrat, President-elect, Asiwaju Bola Ahmed Tinubu’s mission upon taking office on 29 May would significantly contrast with the style of governance of the current leadership at the centre.

The assertion above is underscored by the comment that he made at the commissioning of court facilities constructed in Rivers State under the watch of the outgoing Governor, Nyesom Wike, in the state capital, Port Harcourt.

It may be recalled that during a two-day visit by Tinubu to the Niger Delta State last Thursday, May 4, he promised that his administration would fight corruption in the judiciary by providing judicial officers with improved remuneration, the necessary tools and working environments needed to do their job, such as the type of infrastructure that he was invited to commission in Rivers state.

That would be in contrast with carrying out sting operations on members of the judiciary by arresting senior members of the bench in Gestapo-like style at odd hours and also taking them into custody in their sleeping wears, all in a bid to intimidate and rob them of their independence from interference by the executive branch.

In my view, a paradigm shift in the anti-corruption fight that will address the root cause of the malaise will give Nigeria a new lease of life and make our country a truly democratic nation as opposed to the somewhat pseudo-democracy, which by all indications and measures, is currently in operation in our beloved country.

But the President-elect’s utterance in Port Harcourt, on fighting corruption, sounded like Deja Vu encore to me and l guess the same applies to most sceptical Nigerians because that is similar to what the outgoing President, Mohammadu Buhari, told the long-suffering masses in 2015 when he was assuming the role of President and Commander-in-Chief of the Armed Forces of Nigeria.

To the chagrin, utter displeasure and disappointment of hapless Nigerians, corruption in our country, according to global corruption watchdogs, particularly Transparency International, TI, has worsened between 2015 and today.

Data from the Civil Society Legislative Advocacy Centre, CISLAC, under the Chairmanship of Mr Musa (Rafsanjani) Auwal, Nigeria’s corruption ranking in the Committee of

Nations in 2022 is 150th position out of 180 countries in the world corruption index.The only country in West Africa performing below Nigeria or more corrupt than Nigeria, according to the graft monitoring organisation, Tl, is Guinea Bissau. Our country, on a scale of 100, scored 26/100 in 2019, 25/100 in 2020 and 24/100 in 2021. That signifies a continuous decline in Nigeria’s rating, which is not good. According to media reports referencing Transparency International, Tl, chair, Delia Rubio: “Corruption has made our world a more dangerous place. As governments have collectively failed to make progress against it, they fuel the current rise in violence and conflict – and endanger people everywhere. The only way out is for states to do the hard work, rooting out corruption at all levels to ensure governments work for all people, not just an elite few.”

After looking at Tinubu’s promise to combat corruption in the judiciary, it appears feasible that he may be able to slow down the menace during his reign as president because he is planning on tackling it from the angle of closing the loopholes for corruption created by inadequate remuneration for members of the judiciary, which is one of the root causes of graft both in the judiciary and indeed the entire governmental system.

So my confidence in the ability of President-elect Tinubu to implement the policy of pursuing a paradigm shift in the fight against corruption in the judiciary from the root and not the surface, as the outgoing government seems to have been doing, is buoyed by the fact that since he has been a two (2) time Governor of Lagos state (1999-2007), he must understand what it means to make such a significant pronouncement. As such, his proposition must be a product of critical thinking and not mere brain waves as Nigerians have witnessed in the past eight (8) years.

Incidentally, reforms in the judiciary, particularly with respect to a better welfare package for the members of the judiciary, are supposed to already be afoot as evidenced by the approval for the increase in the remuneration of Supreme Court justices (N10m and N90m monthly for both the Chief Justice of Nigeria, CJN and President of the Appeal Court and other justices respectively) introduced by the outgoing administration of President Mohammadu Buhari, but it is yet to be implemented.

The reality is that Nigerian judges are paid less than our lawmakers. Even as judges in Ghana and South Africa earn higher emoluments than their Nigerian counterparts, Nigeria is often touted as the giant of Africa.

But, the 40 per cent increase in the salary of civil servants across board, including members of the judiciary by the outgoing government at the centre, is being envisaged as a moral and productivity booster as it is also geared towards reining in or discouraging corruption not just in

the judiciary but the government system as a whole.

Although, one is cognizant of the fact the pending petrol pump price increase following the end of the petrol subsidy regime from next month as the current regime exits Aso Rock Villa would wipe out the value of the 40 per cent salary increase just being implemented, for now, the increase in salary effected last from month would give the longsuffering workers succour before the Presidents-elect take office and decides what to do about petrol subsidy removal. In my view, petrol subsidy must end as planned and a 100 per cent increase in salaries for workers across board would be a necessary first step to ameliorate the consequential effect. But that is a subject for another discourse.

Meanwhile, although improvements in the remuneration of judicial officers had already been approved, it remains unimplemented despite the fact that agitation for pay raise for justices has been ongoing since 2008, which is such a shame that such a critical sector has been neglected in the scheme of things for so long.

That is perhaps what informed Asiwaju Tinubu’s promise in Port Harcourt and justification for his assertion about the proposed reforms aimed at stymying corruption in the judiciary under his watch from 29 day of this month, all things being equal.

So, presumably, the incoming President’s statement is likely not a frivolous utterance but a tactical component of his grand strategy detailed in his Renewed Hope 2023 manifesto, which is an 88-page development template that he leveraged to woo the Nigerian electorate to vote for him in the course of the just concluded electioneering campaigns.

Arising from the above, the President-elect is spot-on, on the score of planning to tackle corruption in the judiciary as part of his party’s plans towards renewing hope in our beleaguered nation.

The truth and reality are that it is a pliant judiciary that enables or facilitates the emergence of unscrupulous politicians.

Now, not many people can spot the uncanny link between the judiciary and politicians. But, President-elect Tinubu seems to have made that connection hence he seemed to have given a sneak preview of his agenda when he gets sworn into office from 29 May.

The nexus between the judiciary and legislators as well as politicians in general is reflected by the catchphrase currently dominating the political space ‘Go To Court’.

• Onyibe, an entrepreneur, public policy analyst, author and democracy advocate

Umutu-Kwale Road: Index of Bumpy Development in Delta State

BY BOB MAJIRIOGHENE ETEMIKU

Last week, we sought to draw attention to the hell on the Auchi-Benin- Ekpoma Road in Edo State. During that discussion, we mentioned that this road, in particular, is a road which leading politicians of Edo state extraction could take on, judging from the political weight and clout that they wield. We also mentioned the names of Edo politicians who in our estimation could pull resources together and bring the network of their political power to bear on the rehabilitation the Benin Auchi Ekpoma Road.

One of the things that I did not say last week is how the terrible condition of that road takes credit for many of Edo's security problems – kidnapping, assassinations and killings. In 2022, my church member Ella Williams was shot dead on that road, together with the spate of kidnappings that rocked Edo. Another point we failed to highlight is that these Edo political bigwigs don't ply that road. If they did, my guess is that the affliction they would pass through on that road might spur them to action. However, while the focus last week was on this Edo road, I was to find out over the weekend that the Benin-Auchi-Ekpoma Road is not the only road in the south-south of Nigeria that is hellish. There are a great many of them. I found this out from travelling from Benin City to Kwale in Delta State to grace an occasion. To get to Kwale, you would first of all get to Agbor. From Agbor, you veer off the main/new road to your right and if everything is fine and well, you would be in Kwale within 20 minutes.

From the point that you veer off to your right to Kwale, you are to find yourself on a hill overlooking Boji-Boji Owa. What you see

from atop this hill is a quaint little city spread out like unbroken china in the sun. For all of the towns and cities in this part of Delta State – Ogwashi Uku, Umunede, Asaba & co, the scenery is a picturesque one. Apart from just passing through on the day of this visit to Kwale, I know these towns to be able to make a comment or two about how much 'development' has taken place in them – as a young lad, I went to a school in Delta State which I refer to as the Harvard of the Delta. From there, I attempted to gain admission to the Ogwashi-Uku Polytechnic, lived there awhile before moving to Kwale whilst an undergraduate. Based on the above, I was able to understand some of the topography, the demography and political calculations of this region of the South-South.

Some years after I came back to Agbor, I was to be pleasantly surprised how much of Owa had 'developed'. If you drove through Owa itself, you would find it decked on both sides with solar-powered street lights and well-laid out culverts. In the political configuration of Delta state, the Anioma peoples seem to come third in population after their Urhobo and Itsekiri brothers. The argument was that after the tenures of James Ibori, (Urhobo) Emmanuel Uduaghan (Itsekiri), it became the 'turn' of the people of Anioma to use resources of Delta State to 'develop' their own part of the state after Ibori and Uduaghan. But the 'development,' which has taken place on the road leading from Umutu to Kwale in Delta appears to me to be a sham. For as we embarked on this journey from Agbor to Kwale, which ordinarily should be no less than 30 – 45 minutes, we had to spent over two hours meandering through thoroughfares.

That thoroughfare led us straight into Premier Forest where we found several 'hidden' acres of a rubber tree plantation. Nobody of the over 40 passengers in that vehicle had a kind word for the people responsible for this long, tortuous journey which we were subjected.

What I found out as we entered Kwale was that there were posters of well-placed Anioma people, strategically positioned after the bad spots, calling on Anioma in Delta to vote them in, in the 2023 elections. Looking at the distraught faces of my fellow passengers, I was sure that the irony of the posters on bad roads was not lost on us. The supreme irony however is that the people seemingly responsible for taking action on that road, and who have not taken action or done soothing about the UmutuKwale road were the ones with the biggest posters.

For our journey back to Benin City, the driver decided to test the vehicle against the broken, twisted, bent and mangled Umutu road, instead of making a detour again through the hinterlands. It was a costly mistake, and this was that after we suffered through and got to Okhuaihe, one of our vehicles almost caught fire. That no life was lost was a miracle from God. It would have been a needless waste of human life.

The state of the Umutu-Agbor Road is no different from the Benin Ekpoma- Auchi Road in terms of its poor condition. It is a 'state' road and it's such a shame that the outgoing government of Dr Ifeanyi Okowa left it to disintegrate.

•Etemiku is editor in chief of WADONOR...cultural voice of Niger.

Cadbury Nigeria: FY 2022 Results Mirror Growth That Excites Shareholders

BY SAM DIALA

Cadbury Nigeria’s full year in 2022 shows a growth trajectory that would impress the shareholders who have waited long for a return to the good old days. After a stint at the low rungs of corporate stairs, the beverage and confectionery giant appears to have resumed flight at the altitude it was known for in the days of yore.

The company’s FY 2022 financial statements filed with the Nigerian Exchange show improved parameters in topline and bottomline at a time earnings are challenged by raging inflation, high interest and exchange rates and drop in consumer demand.

Cadbury’s revenue haul rose by 30.4 percent to N55,2 billion from N42,3 billion. This came from high liquidity that earned the company significant revenue of N1.6 billion in finance income accruing from interest on bank deposits. This represents an 87.9 percent increase from N856 million in the preceding period.

The overall impact showed in net finance income of N1,1 billion against N606 million earned in the previous year which was an 82.2 percent jump – suggesting high efficiency in cost management which contributed to the significant growth achieved during the year.

PH Refinery: Buhari Fails on Q1 Delivery Target

President Muhammadu Buhari has failed to meet the deadline for the rehabilitation of the Port Harcourt Refinery which was set for the first quarter of 2023.

The President had, through multiple sources promised, reassuringly, that the rehabilitation of the 60,000 barrels fuel plant would be

completed by the first quarter of 2023.

On January 9, 2023, the immediate past Minister of State for Petroleum, Timipre Sylva, had revealed that the rehabilitation of the 60,000 bpd refinery was being completed and was going to be started by Q1 2023.

Continues on page 33

Unlike in the previous year when the company recorded N249 million as finance cost, the figure for 2022 showed a 102 percent increase to N503 million on the back of the increase in interest rates announced by the Central Bank of Nigeria (CBN).

We had noted in our previous report that in the previous five years of 2016 – 2020, the company’s fortunes nosedived, hovering around lower digits that indicate a stint in hard times, as the tough operating environment lingered

We had also noted last year that Cadbury was transiting to the league of high flying firms after the travail in scandalous corporate governance that trailed it for some time. Interestingly, the improvement in profit before tax to N1,2 billion from N1 billion in the FY 2022 report cascades to a 30 percent growth recorded in profit after tax to N583 from N449 million in the previous year.

In an environment of high inflation, the company’s profit was under pressure from high cost of sales which spiraled 32.4 percent to 47.4 billion from N35.8 billion in the preceding period.

Continues on page 33

MORE INSIDE

MTN Group Mulls Sale of WA Assets Amid Challenging Business Conditions

PAGE 34

IoD Nigeria

Celebrates 40 Years of Excellence

PAGE 35

Dangote Refinery Presents Growth Opportunities For

Nigerian Economy – LCCI

With just a few days to the inauguration of Dangote Refinery, the Lagos Chamber of Commerce and Industry (LCCI) has lauded the efforts of its visioner, Aliko Dangote, and the Federal Government of Nigeria (FGN)’s support in berthing the project.

In a statement the Director General of the Chamber, Dr. Chinyere Almona, noted that

Continues on page 34

CADBURY NIGERIA PLC 5-YEAR RESULT: 2018-2022 (N’m, bn)

Dangote

Adeboye

OIL & GAS/INDUSTRY

PH Refinery: Buhari Fails on Q1 Delivery Target

Continued from page 32

Cadbury Nigeria: FY 2022 Results Mirror Growth That Excites Shareholders

Continued from page 32

Cost of sales, selling and distribution expenses, administrative expenses recorded a combined N55.1 billion compared to N41.9 billion representing a 31.5 percent increase. Further analysis of the document showed that raw and packaging materials and personnel expenses constituted the key cost elements.

“

The refinery was initially scheduled to commence operations in December 2022.

“Our promise has been that the 60,000 bpd plant within the Port Harcourt refinery by the end of Q4 2022, it is being completed and is going to be started by Q1 2023 as promised,” Sylva said while giving an update on the Port Harcourt refineries during the ministry of petroleum resources 2022 scorecard in Abuja.

Similarly, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, had assured Nigerians of its resolve to complete the then ongoing rehabilitation of Port Harcourt Refinery by March, 2023.

“The promise was to start the fuel plant, which is the 60,000 bpd component of this activity by the last quarter of 2022, but it is not practical. So, we will start it off in the first quarter of 2023, otherwise every other process is going on,” Kyari stated.

About two months after the March 31, 2023 deadline, and two weeks to the end of Buhari’s administration on May 29, the refinery rehabilitation is yet to be concluded. It is now pushed forward to the incoming government

to add to the pack of responsibilities likely to dither its performance.

Of major concern here is the huge public funds already committed to the rehabilitation of the 58-year-old refinery, which is part of the larger Port Harcourt refinery complex. Equally worrying is government’s attitude of embracing opaqueness in its oil and gas service delivery.

The Federal Executive Council (FEC) in March 2021 approved $1.5 billion (about N600 billion) for the rehabilitation of the Port Harcourt refinery complex, comprising the old and the new refineries.

Sylva said the contract was awarded to an Italian company, Tecnimont SPA, who, according to the minister, are experts in refinery maintenance.

Sylva further disclosed that the funding of the repairs would be from many components, including the Nigerian National Petroleum Corporation (NNPC), Internally Generated Revenue (IGR), budgetary provisions and Afreximbank.

“So we are happy to announce that the rehabilitation of productivity refinery will commence in three phases. The first phase is to be completed in 18 months, which will take the refinery to a production of 90 percent of its nameplate capacity.

“The second phase is to be completed in 24 months and all the final stages will be completed in 44 months and consultations are approved. And I believe that this is good news for Nigeria,” the minister said, adding that a maintenance company would also be put in place to ensure an effective maintenance culture.

The minister assured that rehabilitation works on Kaduna and Warri refineries would also be carried out on or before May 2023.

This top-of-the-roof optimism ended in a crashed hope with Nigerians suffering and paying more for petrol, directly and indirectly. Besides, the government has not been held to account for the “unending refinery rehabilitation” which has gulped a huge chunk of public fund.

The approval of the $1.5 billion to rehabilitate the refineries was not received as good news. It was promptly greeted with mixed feelings as the country had in the past spent billions of dollars on refinery maintenance. Despite such expenditure, however, the facilities have not worked with many experts calling for their privatisation.

Like its peers in the fastmoving consumer goods sector, Cadbury suffered N2 billion from foreign currency exchange loss as against N542 million in the previous year on the back of forx market volatility and depreciation of the Naira. Also, the company’s strong balance sheet, driven by huge liquidity on the back of healthy trade and other receivables grew by 38 percent to hit N60 billion from N43.6 billion in 2021. Consumer goods firms have been under the pressure of multiple taxes which the Manufacturers Association of Nigeria (MAN) recently lamented over. Their protest led to the delay in signing the 2023 Finance Bill by President Muhammadu Buhari because of high and multiple tax elements.

“Manufacturing companies are being overtaxed by the government. More worrying is that their output is what is being taxed and that will lead to serious consequences. When you tax output – finished goods – it has far-reaching implications,” said Dr Muda Yusuf, Director/CEO, Centre for the Promotion of Private Enterprises (CPPE), on a national television programme Friday, monitored by THEWILL. Cadbury’s income tax expenses was N715,299, compared to N648,205 in the previous period. All these contributed to thinning down the earnings.

High operating cost impacts on manufacturing companies’ capacity to create jobs, especially through the backward integration programme, which focuses on local sourcing of raw materials. Cadbury has a cocoa processing facility in Ondo state under the programme which has helped in job creation and

boosting the GDP.

Stakeholders had applauded the recovery of Cadbury following its moderate performance last year.

“We presume that Cadbury Nigeria Plc is coming out of the woods gradually. If the trend can continue for the fourth quarter of 2021 and first and second quarters of 2022, it might also improve their share price. But the management should endeavor to control cost which will be an additional advantage”, National Co-ordinator, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, had said.

The doyen of the stockbrokers and Non-Executive Director at UIDC Securities Limited, Mr Sam Ndata, said the good results were an indication of getting back to the good old days of good performance by the firm. He recalled in a note to THEWILL then that the ugly era of poor corporate governance practices and deficient leadership was a huge setback for the company.

A stockbroker and Head of Securities Trading at Planet Capital, Dr Paul Uzum, said Cadbury was taking advantage of the high inflation rate that the consumer goods firms enjoyed. The financial statement showed a proposed total dividend of N157,218 as against N57,632 in the previous year which will excite the shareholders who have waited long for the return of the good old days of the Bournvita producing firm.

The government in 2021 earmarked about $3 billion to fix the refineries: $1.5 billion for the repairs of the Port Harcourt Refinery, while $897.6 million and $586.9 million were approved for Warri and Kaduna Refineries respectively

The company’s strong balance sheet, driven by huge liquidity on the back of healthy trade and other receivables grew by 38 percent to hit N60 billion from N43.6 billion in 2021

Continued from page 32

Dangote Refinery Presents Growth Opportunities For Nigerian Economy – LCCI

the 650,000 b/d capacity refinery, expected to be Africa’s biggest oil refinery and the world’s singletrained facility, will meet Nigeria’s need for refined petroleum products and bring about a huge positive impact on the Nigerian economy

The statement read in part, “LCCI views the Refinery’s impact on the Nigerian economy as significant. It will save and generate foreign exchange.

“The Refinery will create jobs, positively affect the value of the Naira, broaden prosperity for the downstream sector, and provide growth opportunities for businesses. It will also stimulate economic growth by impacting the country’s balance of payments.

“In addition, the Chamber expects

MTN Group Mulls Sale of WA Assets Amid Challenging Business Conditions

the Refinery to fuel further growth and development across its value chain, including cosmetics, plastics, textiles, etc.

“We also see room for the development of added value in agribusiness, including the Sugar Backward Integration projects that plan to create a strong localized supply in the sugar industry, benefiting local suppliers across the sugar value chain.

“Finally, the Chamber notes that this initiative presents Nigeria as an attractive investment destination for local and foreign investors. Therefore, the LCCI urges the government to strengthen its commitment to creating an enabling environment for businesses.

FMDQ Exchange Admits CardinalStone Partners Commercial Paper

FMDQ Securities Exchange Limited continues to use its platform, to efficiently enhance the registration, listing, quotation and trading of debt securities in the Nigerian financial markets space. In this regard, the Board Listings and Markets Committee of the Exchange has approved the registration of the CardinalStone Partners Limited N20.00 billion Commercial Paper (“CP”) Programme on the Exchange platform.

CardinalStone Partners Limited (the “Issuer”) is a multi-asset investment management firm that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.

This CP Programme, which is

NAHCO Subsidiary Commences Export of Food Items

West Africa’s foremost ground handling service provider, National Aviation Handling Company (NACHO) Aviance, recorded a major first recently as it started the exportation of food items to Europe under its new subsidiary, NAHCO Food and Beverages Limited. A Release from the Company said it commenced the exportation of fresh pepper after being certified by the Nigeria Agricultural Quarantine Service (NAQS) and after consultation with foreign food standards Agencies. According to the Release, analysts say the initiative is one that would revolutionalise the way Nigeria’s produce are packaged for foreign markets.

“This feat is first by any major operator at the Airport and comes on the back of aggressive push by the Federal Government for increased export of Nigeria products.

sponsored by FBNQuest Merchant Bank Limited (Lead Sponsor); Emerging Africa Capital Advisory Limited, CardinalStone Partners Limited, FCMB Capital Markets Limited and United Capital PLC (CoSponsors) – all Registration Member (Quotations) of the Exchange, allows the Issuer to efficiently raise shortterm finance from the Nigerian debt markets, through CP issues, within the CP Programme limit.

The successive and successful admittance of the securities listed and quoted so far in the year 2023, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation services offered by FMDQ Exchange –Nigeria’s largest securities exchange by market turnover of over N169.00 trillion over the last nine (9) years.

MTN Group Ltd. Africa's largest mobile operator, is reportedly in advanced talks to sell some of its assets to Axian Group Ltd. According to sources familiar with the matter, negotiations on the prices of MTN's assets in Liberia, Guinea-Bissau, and GuineaConakry are ongoing.

According to data compiled by Bloomberg, the three West African countries accounted for 1.6% of MTN's revenue in 2022. The deal, which has not yet been finalised, could see MTN selling some of its assets as it narrows its focus and resources on core markets, including Nigeria and Ghana.

MTN is one of the most valuable companies in Africa, with a significant presence in 19 countries in the region. The company's mobile phone services have become an essential part of everyday life for millions of people, and it has consistently been a top performer in the annual ranking of Africa's top 250 listed companies by African Business.

However, the combined market capitalisation of the top 250 companies has fallen from $701 billion to $561 billion since last year's survey, impacting MTN's overall value. The decline in the market value of companies across the continent is primarily attributed to the COVID-19 pandemic, which has disrupted supply chains, reduced demand, and slowed economic growth.

Despite these challenging business conditions that have affected many African companies, MTN remains focused on optimising its portfolio and evaluating its assets in different countries. According to Bloomberg, MTN's CEO, Ralph Mupita, has been evaluating the company's portfolio in recent months. The move to sell some of its West African markets comes as part of a broader strategy to trim its portfolio and streamline its operations.

The move could also indicate a broader trend in the market, as companies continue to evaluate their portfolios and focus on core markets amid challenging business conditions.

“The new export business by the Company is in conjunction with its appointed partners to export the first batch of the exports consisting of high grade fresh Nigerian pepper.” The Release said.

Group Managing Director/CEO, NACHO Aviance, Indranil Gupta, said this development was coming at a time when quite a number of stakeholders had identified packaging as a major challenge for Nigerian exports. He disclosed that the Company was doing a lot to assist local producers of agric products in realizing their dreams of exporting quality commodities to markets in Europe, America and Asia.

“We appreciate the hard work some of our farmers put into producing their goods. NAHCO is trying to support them export these products so as to make these efforts more worthwhile for them. It is also a way of generating scarce foreign exchange for the country, Gupta stated.”

Explaining the process which led to the commencement of the food exports, the Senior Business Development Manager, New Business, NAHCO Aviance, Emmanuel Illah, pointed out that the project is part of the firm’s larger expansion strategy driven by three major objectives: Growth, Risk Reduction and Profitability.

Illah noted that the GMD/CEO of the Company, Gupta, drove the initiative and have provided support and technical know-how so far.

He also disclosed plans by the Company to onboard new consignees/ offtakers. “The marketing campaign and planned roadshow will take care of this.

“We plan to expand the product range substantially in due course to accommodate the requests from the diaspora markets.”Illah said.

L-R: Managing Director, Remita Payment Services Limited (RPSL), DeRemi Atanda;  Director, Merchant Sales & Acquiring, Visa West Africa, Olufunmi Fagbulu; Group Managing Director, SystemSpecs Holdings Limited (SHL), John Obaro; Vice President, Merchant Sales & Acquiring, CEMEA-VAS & Cybersource, Simon Dahlman and Senior VP, Merchant Sales & Acquiring, CEMEA, Visa, Michael Berner during a courtesy visit to SystemSpecs Head Office in Lagos on May 7, 2023.

NCC Boss Gives Geasons For Fast Depletion of Internet Data

The Nigerian Communications Commission (NCC) says Fast depletion of internet data is a common issue faced by many consumers. There could be several reasons why consumers are experiencing this problem. One possible reason is that they may be using data-intensive applications such as video streaming services or online gaming, which can quickly consume a large amount of data. Another possible reason is that they may not be aware of how much data their devices are consuming, or they may be leaving their devices connected to the internet even when they are not actively using them.

Airtel Africa Record Double-digit Revenue

The financial year ending March 31, 2023 gave Airtel Africa Plc double-digit revenue growth and resilient margin, with its revenue in constant currency growing by as much as 17.6%, and 11.5% to $5.255 million in reported currency.

Airtel Africa is a leading provider of telecommunications and mobile money services, with presence in 14 African countries – primarily in East Africa and Central and West Africa.

The Board of Airtel Africa recommends a final dividend of 3.27 cents per share, making the total dividend for Full Year (FY’23) to 5.45 cents per share, an increase of 9% in line with its progressive dividend policy.

Prime Business Africa (PBA) understands that the telecoms company’s overall revenue growth was driven by substantial increase in customer base and increase in use of voice, data and mobile money.

Specifically, Mobile Money transaction value increased by 41.3%, with Q4’23 annualised transaction value exceeding $102bn in constant currency.

Operating key performance indicators (KPIs) all came positive. Just as total customer base grew by 9.0% to 140.0 million, the penetration of mobile data and mobile money services continued to rise, driving a 16.9% increase in data customers to 54.6 million and a 20.4% increase in mobile money customers to 31.5 million.

Constant currency ARPU growth of 7.4% was largely driven by increased usage across voice, data and mobile money, according to the official data released by Airtel Africa Group.

While each segment’s reported currency revenue growth was impacted by currency devaluation, they all delivered double-digit constant currency revenue growth. Across the Group, mobile service revenue grew by 16.2% in constant currency, driven by voice revenue growth of 11.8% and data revenue growth of 23.8%. Mobile money revenue grew by 29.6% in constant currency.

Underlying EBITDA increased by 17.3% in constant currency, and 11.4% in reported currency to $2,575m, with

an underlying EBITDA margin of 49.0%, reflecting the resilience of our operating model despite inflationary cost pressures.

Profit after tax was $750m, a decrease of only $5m, after including a higher foreign exchange and derivative losses of $245m.

Basic EPS at 17.7 cents was up by 5.2% due to higher operating profits and exceptional items gain on deferred tax credit recognition in Kenya, the DRC and Tanzania partially offset by higher foreign exchange and derivative losses. EPS before exceptional items was 13.6 cents, a reduction of 15.0%, largely due to higher foreign exchange and derivative losses of $245m. EPS before exceptional items and excluding foreign exchange and derivative losses was 20.6 cents, up by 13.4%.

Airtel Africa’s capital expenditure (Capex), however, grew on the back of additional spectrum acquisitions in Nigeria, Zambia, Tanzania, Kenya and DRC, during the period under review. Capex, therefore, increased by 14.0% to $748m, in line with its guidance, as the company continues to invest for future growth.

In July 2022 specifically, the Group prepaid $450m of outstanding external debt at HoldCo, slashing the remaining debt at HoldCo to $550 million, falling due in May 2024. Cash at the holding companies was $398m. Leverage was at 1.4x in March 2023, broadly stable despite $500m of spectrum investment during the year.

Recall that Airtel Africa’s inaugural Sustainability Report was published in October 2022, reflecting commitment to sustainability and detailing progress against the long-term goals.

The telecom company also launched a UNICEF partnership across 6 of its markets providing educational resources, free of charge, to more than 250,000 children this year on its way to reaching one million children by 2027.

The Group’s ambition to achieve net zero by 2050 has progressed. It published its Scope 1, 2 and 3 baseline GHG footprint in October 2022 and in May 2023 announced detailed plans to achieve over 60% reduction in Scope 1 and 2 emissions intensity by 2032.

IoD Nigeria Celebrates 40 Years of Excellence

The Institute of Directors (IoD) Nigeria, the premier corporate governance Institute and a leading promoter of ethical professional standards in Nigeria, has concluded plans to mark forty (40) years of its existence in grand style.

In a Release, Dele Alimi, Director General/Chief Executive Officer of the Institute said the year-long celebration will climax with an anniversary gala, scheduled to hold on Wednesday 17th May, 2023 at the prestigious Eko Hotels and Suites at 5pm prompt.

According to the Release, the Special Guest of Honour at the Gala is President, Federal Republic of Nigeria, Muhammadu Buhari, while for Former President, Dr. Goodluck Jonathan, is the Chairman of the occasion.

“The Guests of Honour at the event are, Lagos State Governor, Babajide Sanwoolu, and Abdul Samad Rabiu, while Dr. Ije Jidenma, the President of the Institute is the Chief Host.” The Release read.

Alimi, noted that the anniversary gala is intended to serve as a springboard to promote the imperatives of good corporate governance and best practices, while amplifying the contributions of the Institute in the last four decades.

In his words, “The anniversary gala promises to attract the largest gathering of Nigerian policymakers and crème de la crème of leaders in both private and public sectors.

“The anniversary gala is also expected to feature the presentation of awards to deserving organisations and individuals who have supported the cause of the Institute in the last four decades.”

Alimi also added that, the theme of the anniversary is “Celebrating 40 Years of Visionary Leadership and Corporate Governance.”

“To address this issue, consumers can take several steps to reduce their data usage. For example, they can switch to lowerresolution video streaming options, limit their usage of data-intensive applications, or turn off automatic updates on their devices. They can also monitor their data usage by regularly checking their data usage reports provided by their internet service provider or using third-party data monitoring apps.

“Internet service providers can also take steps to help consumers manage their data usage. They can offer data usage alerts to notify customers when they are nearing their data limit, provide tools for customers to monitor their data usage, and offer data rollover or top-up options for customers who need more data. Additionally, internet service providers can work to improve network efficiency and reduce data consumption by optimizing their networks and implementing data compression technologies.”

The News Agency of Nigeria (NAN) reports that NCC Chairman, Professor Adeolu Akande, made this known on Thursday at the NCC fifth edition of Campus Conversation held at the University of Ibadan.

The commission, however, sensitised students of the university on how to manage their data usage on mobile telecommunications networks to reduce the rate of data depletion.

Akande, represented by Mrs. Afure Iloka, Special Assistant to the Executive ViceChairman of NCC, said that consumers’ complaints were the reason why NCC, through its Consumers Affairs Bureau (CAB), embarked on the sensitization exercise.

According to him, this was to educate telecommunications consumers on various ways to manage their internet data.

He said that the campus conversation initiative sought to educate students on the various consumer-centric initiatives of NCC toward protecting the telecommunications consumers against unfair practices by Service Providers.

“This initiative is consistent with the mandate of the Commission to Protect, Inform and Educate the Nigerian Telecom Consumers.

“One of the mandates of the commission is the ‘Protection of the rights and interests of Consumers’.

“This can only be achieved when consumers are well informed and educated on their rights and obligations as telecom consumers.

Cross section of the beneficiaries of Nestlé Nigeria’s Empowering Rural Women to build financial security to improve their standard of living in Ikorodu, Lagos on May 8, 2023.

Photo: Peace Udugba

Misplaced Reactions to NASS Approval of N22.7trn Ways And Means Loan

Therefore for shouting out loud, this is not a new loan request and therefore all the clamour that an outgoing Administration should not be borrowing is flouting crass ignorance. Even the request by the Senate last year for details before approval smacks of lack of adequate grasp of the issues.

The process has been abused and we are on a journey of remediation. Any further delays will exacerbate the already bad situation as we were duly informed that if not securitised there will be further addition of 1.8 trillion Naira to the debt stock by the end of 2023.

I am not sure how the Debt Management Office has treated this debt. There is the clamour that this approval will bring the debt stock to about 70 trillion. Ideally Ways and Means are veritable debts which should not be isolated from the total debt stock at any point in time. Therefore what should be happening now as we attempt to restructure, is to reduce the debt stock to give more head room in this respect for additional borrowing as the need arises. And make the national debt situation not as abysmal as it now looks.

So, what do we do as we securitise? The government issues instruments - bonds - which it takes to the stock market for the public to buy and, as it were, pay off this debt burden. It is restructuring because the government now has an extended period of time to retire the bonds as they mature. Usually the appetitive for such debts will be dependent to the extent that the investing public assessed the offer as attractive as gauged by the coupon rate.

There are funds out there looking for good investment outlets. One could attest to this fact as often we were informed that such government offerings were over-subscribed. Witness here the Sukuk bonds which have been issued now and again and have been reported to have been oversubscribed.

How can we avoid such a situation in the future? Realistically, it is very difficult. Government facing liquidity crises would always go to the Central Bank that has the tag of lender of last resort to the government.

BY BONIFACE CHIZEA

The approval given recently by the National Assembly on the Ways and Means Finance, which has lingered since 2022 when it was submitted by the Executive, has generated some controversies.

The approval was stood down, we were told, because the Senate wanted more details. Now as you listen to reactions to the National Assembly’s approval, you are left wondering at the obvious lack of clear understanding of the matter in hand.

As you also read reactions, including those from organised professional bodies, you are left wondering at the apparent lack of outstanding. Some have complained that the outgoing Federal Government, which should by now be counting its days, has gone ahead to take another loan. Questions are asked as to why such requests should not just be passed on to the incoming administration. But for goodness sake, this is not a fresh loan request. What the outgoing administration has tried to do is housekeeping, to help clean out the mess in the Augean Stable.

The Ways and Means loan is accommodation extended by the Central Bank to the Government to enable it tidy over instances when it was faced with liquidity crises as a result of shortfalls in revenue flows, such as beefing up allocations to state governments when there was shortfall on accruals to the Treasury.

If that was not the case, salaries will not be paid

and we could reap a spate of wild cat strikes which will undermine economic activities.

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

This loan is supposed to be of an amount not exceeding 5% of the previous year's aggregate revenue and no further lending should be made under this heading until the outstanding debts have been retired.

TTObviously, that has not been the case, otherwise the outstanding will not be 22.7 trillion Naira as it currently stands.

And since the governor of the Central Bank is aware of the crises and the obvious negative consequences of refusal for macroeconomic stability, he will have no option but to oblige.

However, what we can ask for, even if we are ready to acknowledge that it would be difficult, will be to try and observe the law. More often, the problems are such that it will not scratch its surface if you did so.

On the other hand, there is the overarching need to build strong institutions which is the hallmark of developed economies. Strong institutions evolve and will not just happen. We would have to revisit the recruitment process of the officers at the helm. A situation where the president appoints, even though subject to NASS approval, leaves the incumbent officer in a relatively weak position visa-vis the executive. It is even more so for institutions dependent on the executive for funding; he who pays the piper, we are told, calls the tune.

We must applaud the executive that it took the trouble to clean up the mess. Supposing it simply walked away leaving the Central Bank to stew in its juice, what could have happened? Therefore, overall, what just happened is a positive development for the economy and must be seen as such.

No doubt, one problem certain to confront the incoming administration is that of debt sustainability as the treasury battles the problems of inadequate revenue inflow.

•Chizea, an economist, is CEO, BIO Consulting

Buhari Emefiele

Therefore what should be happening now, as we attempt to restructure, is to reduce the debt stock to give more head room in this respect for additional borrowing as the need arises

SHOTS OF THE WEEK

THEWILLNIGERIA THEWILLNG THEWILLNIGERIA

L-R: Chief Executive Officer, Nigerian Exchange Limited (NGX), Temi Popoola; President, Chartered Institute of Stockbrokers (CIS), Oluwole Adeosun and  Past President, CIS, Henry Olayemi, during the induction Ceremony of the Chief Executive Officer of Nigerian Exchange Limited (NGX) as a Fellow of the Institute in Lagos on May 9, 2023.

L-R: President/Group Chief Executive Officer, Transnational Corporation of Nigeria, Dr Owen Omogiafo; Chairman, Transcorp Group, Mr Tony Elumelu; Vice President Yemi Osinbajo, SAN; Director General, Bureau of Public Enterprises (BPE),  Mr Alex Okoh and Managing Director, Transcorp Power Ltd, Mr Christopher Ezeafulukwe during the presentation of Certificate of Discharge to Transcorp Power Ltd at the Presidential Villa in Abuja on May 8, 2023.

L-R: President, Bible Society of Nigeria (BSN), Bishop Timothy Banwo; former President Olusegun Obasanjo; Chairman, BSN, Egba Area, Dr Akinpelu Ojo and former Secretary, BSN, Egba Area, Apostle Joseph Popoola, during a sensitization walk to commemorate 2023 National Bible Day in Lagos on May 8, 2023.

L-R: GMD/Chief Executive Officer, Greenwich Merchant Bank Limited, Mr. Bayo Rotimi and Managing Director, FMDQ Clear Limited, Mr. Ayodele Onawunmi, at the Quotation Ceremony for the Greenwich Merchant Bank Limited 12.20 Billion Series 1 and Series 2 Commercial Papers on FMDQ Securities Exchange Limited, in Lagos recently.

L-R: Chairman, Agriculture and Export Trade Group, NBCC, Mr Charles Ejekan; President and Chairman of Council, NBCC, Bisi Adeyemi; CEO, 3TM Implex Consulting Ltd, Bamidele Ayemibo and Co-Founder, Shael Consulting Agriculture and Nutrition Ltd, Ndidi Nwuneli, during NBCC’s Agriculture and Export Trade Seminar in Lagos on May 8, 2023.

Photo Editor: Peace Udugba [08033050729]

Wofai Egu Ewa, professionally known as Wofai Fada, is as multi-talented as they come. She is an entrepreneur, social media influencer, skit maker, author, compere and a whole lot more. She speaks with SHADE WESLEY-METIBOGUN about her work and how she has been able to combine all her roles successfully.

Excerpts:

MY BACKGROUND PREPARED ME FOR WHAT I AM TODAY – WOFAI FADA

How has the journey to content creation been?

It has been fun and quite challenging, but it got easier over time because of different apps and technological innovations. Right now, I have other things that I am focusing. It got easier with time because of the innovations, especially with different editing apps. The advent of different editing apps, which I must say are a handful, has made life easier. So I can say it is better than it was at the beginning.

How easy was it gaining acceptance and visibility for your contents?

I started creating content in 2016. It was easy for people to accept my content because it was humorous and organic. Those factors grew my following and I was motivated and intentional about creating more fun and interesting contents based on the good reviews I have received over time and the passion I have for comedy. It is easy for people to notice the talent as my contents are quite interesting.

How and when did you get into mainstream acting?

I am a thespian and my foundation is solid. I studied theatre and media studies in the University of Calabar. It was easier for me because I had a background in all the elements of theatre. The Instagram exposure pushed me to different directors and producers. So far, I have done a couple of Africa magic /Netflix movies and series.

Which series or movie gave you the big break?

I can’t really say because each character I played had its fans.

Aside being an actress, content creator, you are also an entrepreneur, sport enthusiast, MC. How do you find the strength to play all the roles and excel in them?

Like I said earlier, I have a strong foundation in Theatre Arts and I have a dedicated team that is passionate about the Wofai Fada brand. I will also say that my strength comes from God. He is the giver of all good things and talents.

You wrote a book titled, 'Yogiegee Culture.' What is the book about?

'Yogiegee Culture' is a recipe book. It is basically about learning how to cook our traditional/local delicacies, especially for people in the Diaspora and it is available for purchase on Amazon.

What inspired you to float a restaurant?

My love for cooking, passion for service and the appreciation from people who have tasted my food is what inspired my cooking and that is what hospitality is all about.

There was a time you closed down the restaurant. What actually happened then?

The property owners had and still have some pending legal issues that

affected my business. It was a heartbreaking experience. Some of my belongings are still stuck in the building. We were illegally evicted. It was tough then, but I just had to move on. You wanted to start your own show a few years ago.

What happened to that dream?

I actually did start a show called ‘My fiancé and I’, starring Deyemi Okanlawon, the actor and myself. I also produced another YouTube series called ‘Kada girl’ and many more. I have them on my YouTube channel and also other exciting and interesting contents too.

You have worked so hard to achieve success. To what do you attribute your success?

I attribute my success to God and my family. They have been very supportive. My background prepared me for everything, that is and is to come.

If you were to choose your favourite among all the things you do, which would you choose and why?

I would say hospitality because it’s a different industry. I love cooking and I love to serve people. I grew up in a family that loves cooking. But I haven’t thought about quitting every other thing for cooking. The fact that I love cooking does not mean I don’t love others. I would like to invest in the restaurant and hospitality thing as much as I am still doing the acting and content creation thing. The other ones are just like hobbies but this is the primary.

How would you describe your journey with Super Sport?

It’s been an awesome experience, an exciting one. It feels good to be seen on a big stage talking about my passion for football. Football is a game that I love and also play. My dad is also a sports person. I used to follow him to the football pitch and also to the tennis club. I watched him play and learnt a lot from him. I guess Super Sport saw the interest I show to sport on social media over time and they reached out to me.

How challenging has it been combining it with other things that you do?

Maybe when I first started it was challenging. But I have a full management and dedicated team that takes the stress off me while I focus on other tasks.

Some people believe that most young actresses sleep their way through to riches. What is your take on that?

It is very common to believe that when a woman is successful, there must be a man behind it, especially in Nigeria. It is okay for a man to be behind your success, but a lot of women worked hard to become what they are today. That is why I find that assertion so disrespectful to women.

What are the things that can be done to the content creation and movie industries to make them better?

More technological innovations and content creation. Content creators need to be more serious and be more professional when creating content. The industry is saturated right now which is why professionalism should be our watch word.

You are a very fashionable lady. What influences your style? I used to be a runway model and I have worked with many designers. So there is a fashion background. My mother is also a very fashionable woman. I am taking after her. If you dress well, it makes you feel good. I love to look good.

You were once a model. Do you see yourself going back to modeling anytime soon?

Yes, but not as a career as I initially intended. I have a lot of friends who are designers. I support them anytime they’re having their fashion show by wearing their clothes.

Ewa

Ewa

STORIES BY IVORY UKONU

UMO ENO'S VICTORY AT A'IBOM GOV POLL ON SHAKY GROUND

'Happy Hour' man on account of his promise to declare ‘Happy Hour’ in the state every Friday for drinks to be sold at reduced prices at bars or other such facilities across the state, is being accused of certificate forgery and concealing the fact that he was expelled from school for it.

It looks like the pulsating victory dance of the governor-elect of Akwa Ibom State, Pastor Umo Bassey Eno, may end up getting slowed down to a mere shuffle of the feet, if news emanating from the Governorship Election Tribunal sitting in Uyo, Akwa Ibom, is anything to go by.

Eno who has been tagged the

Albert Bassey, the candidate of the Young Progressives Party (YPP) in the election, alleged that Eno was expelled from the University of Uyo in 2005 for obtaining admission with a fake West African Examination Council (WAEC)/Senior School Certificate Examination (SSCE) certificate.

In his petition, Bassey claimed that Eno was not at the time of the governorship election qualified to contest because he presented a forged WAEC June 1981 certificate to the Independent National Electoral Commission (INEC)

during his nomination by the Peoples Democratic Party (PDP). Bassey also alleged that the WAEC certificate presented by Eno to the university while he was seeking admission, bears the examination number 15725119, the same as his 1983 WAEC certificate, which he claimed to also possess. He alleged that while Eno claimed to have used his WAEC/SSCE certificate of December 1998 to gain admission to the university, the admission for 1998/1999 academic session was in October 1998, adding that Eno was listed as No 19 in the University of Uyo’s senate list of expelled students dated February 10, 2005.

Reacting to the allegations, Eno said that nothing could be farther from the truth. He did not only deny forging his WAEC result but also insisted that he possessed a Bachelor degree and a Master’s degree in Political Science and Public Administration, respectively, from the same university and wonders how he could have obtained them if he was expelled from the institution.

Eno who is the immediate past Commissioner for Lands and Water Resources in Akwa Ibom State is the founder of All Nations Christian Ministry International.

Sanusi to be Reinstated as Emir of Kano?

If the statement credited to Rabiu Kwankwaso, the presidential candidate of the New Nigeria Peoples Party, NNPP is anything to go by, then there is every likelihood that the deposed Emir of Kano, Sanusi Lamido Sanusi, may be reinstated as the Emir of Kano. Penultimate week, Kwankwaso had revealed that one of the things the governorelect of Kano State, Yusuf Abba who happens to be his son in-law would look into as a matter of urgency is to review Sanusi's dethronement to see if it was warranted. In so doing, there may also be a reverse of the balkanisation of the Kano Emirate into five emirates with each having an Emir. Although the outgoing Kano governor, Abdullahi Ganduje responded to Kwankwaso's statement by reiterating that the four new emirates created by his administration were here to stay, to honour the people of the regions and recover the reputation of the traditional institutions, he obviously,

momentarily forgot, that just as he wielded power to make and unmake, so will the incoming governor also wield the same authority and at his own discretion. As soon as his (Ganduje) time as governor is up on May 29, the cloak of immunity falls off him and he seizes to wield any power to do as he wishes. The outspoken former governor of Central Bank of Nigeria, CBN, was dethroned as the 14th Emir of Kano on March 9 2020 and banished from Kano and sent to Loko, a remote community in Nasarawa State, while the expenses of the emirate under him were probed. Ganduje then proceeded to split the Kano emirates into five. The creation of the new emirates has been a controversial issue in Kano since 2020, with some people supporting the move and others opposing it. But Sanusi has maintained a dignified silence on the issue with many still accord him, all the respect of an Emir.

FATOYINBO GIVES CREDITS TO GOD, OYEDEPO FOR SURVIVING AILMENT

Biodun Fatoyinbo, Founder and Senior Pastor of Commonwealth of Zion Assembly, COZA, has not only thanked God for healing him from a life-threatening ailment but also expressed his gratitude to David Oyedepo, the Presiding Bishop of the Living Faith Church Worldwide, aka Winners Chapel, for standing in the gap on his behalf with God, to receive his healing.

Fatoyinbo, who has been enmeshed in some alleged sexual related scandals, as far back as 2013, shared his testimony during the annual International Ministers' Conference organised by Winners Chapel during the week. The cleric, who revealed that his divine connection with the fiery preacher began when he was a drummer in Winners Chapel, said that during his ordeal, Oyedepo prayed for, interceded on his behalf and spoke life to him and that against medical science, he is today, hale and hearty.

Unknown to many, Fatoyinbo who was been out of the public glare for the greater part of 2022, caused a stir when he put out pictures of his emaciated looks on the Internet. This was seven months after he went AWOL. Quite unlike the suave, full bodied and effortlessly well-dressed cleric, he looked like a shadow of his former self. He had reportedly suffered a stroke.

Sharon

Ikeazor Bags International Appointment

The minister of state for Niger Delta Affairs, Sharon Ikeazor has been appointed to the leadership council of the Elephant Protection Initiative (EPI), an Africa-led response to the killing of elephants. The organisation helps member countries conserve their elephants and secure the livelihoods of people who live alongside them. Sharon was appointed to that position having been a former minister of state for the environment who through her office was dedicated and seen as an effective advocate and campaigner for the environment and wildlife conservation both in Nigeria and at the international level. To this end, she is expected to bring her invaluable experience and expertise to the EPI Foundation. Other highly placed members of the leadership council are

Ian Khama, former President of Botswana; Fatima Maada Bio, First Lady of Sierra Leone; Margaret Kenyatta, former First Lady of Kenya; Hailemariam Desalegn, former Prime Minister of Ethiopia; and Lee White, Gabon’s minister of forests, oceans, environment and climate change.

How Yinka Taiger Celebrated 60th Birthday

Socialite and mother of four, Yinka Taiga hit the big 60 last week and decided to throw a destination party with a few of her friends in attendance to herald her new age. It was a weekend getaway to Bahmas that started out with a welcome dinner on Saturday, a thanksgiving service on Sunday the following day, to thank God for keeping her alive and in good health and a good party to round up the series of activities.

Yinka has been away from the

public glare for a long time and this may not be unconnected to her decision to nurture her famous quadruplet popularly known as the 'Taiga Squad' in peace and serenity following tales of the authenticity of their actual biological parents. She has also learnt to stay away from anything that would draw the attention of the several women linked to her shipping magnate wealthy husband, Olorogun Moses Taiga who are hell bent on destroying her marriage.

Fatoyinbo Eno

Ikeazor

Sanusi Taiger

STORIES BY SHADE WESLEY-METIBOGUN

ADRON HOME ACCUSED OF BREACH OF CONTRACT

Aleading real estate firm in Nigeria, Adron Home, owned by Aare Adetola Emmanuel King, has been accused of fraudulent activities in allocating land to its clients after payment. The company was accused of not delivering on its promises by using deceptive marketing tactics to lure customers into purchasing properties and promising unrealistic returns on investment.

THE WILL gathered that the company allocated some plot of land in Shimawa, near the Redeemed Christian Church of God. However, years after completing payment, Adron Homes reallocated the parcels of land different from what was promised to their customers. The reallocated land was in an entirely different area, a proper tropical rainforest. The act was labelled as a breach of agreement by some of the company’s clients.

Clients who rejected the reallocated land were charged a huge percentage of money as default fee and the company told them to return of the bags of rice and kegs of vegetable oil that they were given when they bought the parcels of land.

It was alleged that the company charged large sums of money as development fee before clients could develop their land. A client who bought a half-plot of land was charged N1.5 million development fee.

The company was also accused of often telling their customers to use a particular engineering firm for the construction of their buildings. Any engineer who does not fit into its requirements, it was learnt, is usually rejected and the clients are prevented from building, even after paying all fees required by the company.

Adron Home was also accused of delaying allocation of land to clients who have paid to the company.

Reacting to the allegations, Adron

How Bukola Saliu Celebrated 40th Birthday

Olori Bukola Saliu, wife of His Royal Highness, Oba Babatunde Saliu, the Oloworo of Oworo, hosted a classy party two weeks ago to mark her 40th birthday. The event, which took place at the Whitestone Place in Ikeja, Lagos, was attended by traditional rulers, politicians, businessmen, friends and members of her family. Ahead of the ceremony, the mother of three had a photo

shoot which she used to paint the social media red, announcing her entrance to the Ruby jubilee club. The celebrant went round welcoming and greeting traditional rulers and dignitaries present at her party, while her friends paid glowing tributes as they spoke about her attributes and virtues. His Royal Highness, Oba Saheed Ademola Elegushi, Kusenla III handled the cutting of the four-tier white cake.

Home tried to set the record straight, while appealing to aggrieved parties to explore the contractual options available to resolve whatever conflict they have with the company instead of tarnishing its image. The company made it known that several clients have built their houses successfully on their allocated land. It said that as soon as all requirements, as laid down by the company, are met, land is usually allocated to clients. Reacting to the allegation that it forced its clients to hire the services of selected building engineers, Adron Home made it known that once a client's engineers are certified by the Council for the Regulation of Engineering in Nigeria and Council of Registered Builders in Nigeria are certified, they would be allowed

to commence work on their land. The company made it known that the step was taken to ensure quality control in order to avoid hazards like collapse of buildings. Also addressing the allegation of charging ridiculous fees at development level, the company made it known that its infrastructural and development fees are not shrouded in secrecy but clearly stated on the company' website and on its subscription forms with terms and conditions. However, increment might be effected as the economy dictates, which is why the fees are reviewable periodically to reflect the state of the market. It added that clients are usually informed through a memo whenever increment is to take place.

Criticism Trails Yinka

Fasuyi’s Chieftaincy Title

The Bishop of Ilesa Southwest Diocese of the Church of Nigeria, Anglican Communion, in Osun State, Right Reverend Samuel Egbebunmi, has been hugely criticised for giving out a traditional title in church. The Bishop had installed businessman, Chief Yinka Fasuyi, as the Balogun of the Cathedral of Holy Trinity, Omofe, Ilesa. Egbebunmi said the title was conferred on Fasuyi based on his level of integrity, uprightness and love for humanity. According to

him, Fasuyi came from a noble family, his father was a dedicated leader in the church who left legacies before his demise.

The newly installed Balogun also holds another chieftaincy title in Osun State. He is the Asiwaju of Ijesa land, a philanthropist and force to reckon with in the state. However, it seems that some members of the church disapproved of the Bishop's action. They criticised him for introducing a traditional title into the church. According to them, the title, Balogun

is typically used to decorate a traditional warlord in the society.

They argued that most of the people given such titles were usually fetish and often indulged in all sorts of unorthodox practices that should not be introduced to the church. They advised the cleric to coin another title befitting a Christian congregation, which will depict the true faith that the Anglican Communion stands for, instead of introducing worldly practices into the church.

Five

Years After, Abdulsamad Rabiu Remembers Late Dad

The chairman of BUA group, Abdulsamad Rabiu has marked the fifth anniversary of his late father, Sheikh Isyaku Rabiu’s death. Sheikh Rabiu was a notable Kano businessman, industrialist and Islamic scholar. He died at the age of 93 after a brief illness in the United Kingdom. He was a big player in a series of ventures in

Nigeria, with investments in frozen food service, real estate, sugar and motor vehicle and parts distribution. He also established Bagauda Textile Mill to manufacture woven cloth for uniforms. Abdulsamad, who inherited his late father's business acumen, reflected on the latter’s life and times.

According to him, he is filled with both sadness and gratitude because it is difficult to believe that five years had passed since his father's demise but he expressed appreciation for the time the deceased spent with him and the legacies he left behind.

Describing the late scholar, Rabiu said his father was a man of great faith and determination, a devout Muslim who dedicated his life to serving Allah and spreading the teachings of Islam and a successful businessman who

built a global empire through hard work, perseverance, and a deep commitment to excellence. The billionaire businessman remembered his father's kindness and generosity. How he had a heart of gold and was always willing to help those in need, regardless of their race, religion, or social status. He believed in giving back to the community and made significant contributions to various charitable organizations and causes throughout his life. Rabiu revealed that his family has started various programmes to continue his father’s charitable work and support various initiatives aimed at improving the lives of people in Nigeria and beyond.

Saliu Rabiu

Fasuyi

King

STORIES BY SHADE WESLEY-METIBOGUN

RIFT BETWEEN BOLAJI ABDULLAHI, SALIU MUSTAPHA WORSENS

Muhammed Nami Wins ICAN Merit Award

Muhammed Nami, the Executive Chairman, of Federal Inland Revenue Service (FIRS), has won the Institute of Chartered Accountants of Nigeria (ICAN) Merit Award 2023 in the award's non-members category. The Governing Board of ICAN gave Nami the merit award based on his track record as an unassuming and humble achiever who has led the FIRS to excel in the international tax circle despite global economic challenges by achieving milestones in revenue collection. His positive impact in the society, with his significant contribution to the institute and to Nigeria as a whole were also part of the criteria used before he was considered for the award.

tax collection ever made in the history of the country. He was appointed the Executive Chairman of the Federal Inland Revenue Service FIRS in 2019 by President Muhammadu Buhari, after the expiration of the five-year tenure of Babatunde Fowler.

The ongoing war between Bolaji Abdullahi, the former House of Assembly candidate for Kwara Central on the platform of the Peoples Democratic Party, who was also a former Minister of Sports, and Saliu Mustapha, the lawmaker representing Kwara Central in the Senate on the platform of the All Progressive Congress, APC is yet to come to an end.

Many thought Mustapha’s victory at the polls a few months ago would mark the end of the feud, but it seems that is not going to happen soon. Abdullahi has vowed not to end his rift with his former opponent or even congratulate him for his victory at the poll. Abdullahi who contested for the seat at the upper legislative chambers with Mustapha came second in the poll held in February. In a recent interview, he accused Mustapha of stealing the mandate

from him, claiming that he did not win the election.

The former minister also stated that there were irregularities and manipulations that were inconsistent with the provisions of the Electoral Law and vowed not to accept the result pf the election. This is not the first time that Abdullahi has pointed accusing fingers at Mustapha. Both men used to have an amicable relationship until politics tore them apart and they became sworn enemies. Mustapha had criticised Abdullahi’s campaign slogan after the latter used the phrase ‘Big Idea’ as part of his campaign slogan. He emphasised the impact that certain ideas would have if well thought-out and properly executed. However, Mustapha countered his assertion and maintained that having an impact is better than conceiving an idea.

Abduallahi, who did not find his

political opponent’s criticism funny, responded with an open letter where he sent Mustapha to the gallows. He warned his opponent and used some unpleasant words to describe his action.

Mustapha was surprised that the PDP candidate misinterpreted his previous statement. He slammed the politician and said an average reader would understand what he had said not to talk of Abduallahi who is considered an intellectual. He added that while ideas are good, it will amount to nothing if it does not solve people’s problems. After a while, Mustapha reiterated that his first response to Abduallahi’s letter was to set the records straight and to avoid misrepresentation. He promised to ignore his counterpart’s charade in the near future. However, Abdullahi has not been quiet about their feud since then.

Mide Martins Marks 21st Anniversary of Mother’s Death

Nollywood actress, Mide Martins, marked the 21st anniversary of her mother’s death last week. Mide’s mother, late actress Funmilayo Martins, died in 2002 at the age of 38. Before she passed on, the deceased had complained of dizziness and was taken to a hospital close to her residence. She recovered after receiving treatment at the hospital. Unfortunately the following day, her health deteriorated and she was rushed to Oshuntuyi Medical Hospital where she eventually gave up the ghost. The immediate cause of her death was cardiac arrest, but she had been diagnosed witbh rheumatic heart disease which she battled with for a while. The event was attended by Mide’s colleagues and friends outside the movie industry.

PEBEC HONOURS OLUMIDE AKPATA

Former President of the Nigerian Bar Association (NBA) and Senior Partner at Templars Law Firm, Olumide Akpata, has been honoured by the Presidential Enabling Business Environment Council, PEBEC. Akpata was celebrated at the 2023 PEBEC Award ceremony, which took place in Abuja last week. PEBEC Award was created to recognise and honour ministries, departments, agencies (MDAs), state governments, and privatesector stakeholders who have contributed significantly to the ease of doing business interventions in Nigeria. Akpata was honoured for his landmark interventions in collaborating with the PEBEC secretariat to work on signature pieces of legislation, including the Companies and Allied Matters Act (CAMA), 2020, the Business Facilitation Act, among other initiatives that have contributed to the ease of doing business in Nigeria and Nigeria’s rise in the now rested World Bank Ease of Doing Business. The legal luminary had served a single two-year tenure as chairman of the NBA-SBL, a special arm of the NBA which engenders the development of commercial law and specialized commercial law practice in Nigeria. While functioning as the chairman of NBA-SBL, he established a partnership between NBA-SBL and PEBEC on the ease of doing business in Nigeria. The partnership reviewed the extant laws and regulations, the monitoring of the productivity and response time of MDAs, including the Corporate Affairs Commission (CAC).

Nami, a go-getter and an ingenious leader had used his visionary leadership, at the FIRS in 2022 to achieve an unprecedented revenue collection of N10.1 trillion, which is the highest

Biyi Adeleye Joins Abiodun’s Inauguration Committee

Biyi Adeleye a former Special Assistant to Governor Dapo Abiodun of Ogun State, appears to have found his feet again with his recent appointment as a member of the 34-man Steering Committee set up to oversee the May 29 inauguration of the governor and his deputy, Noimot Salako-Oyedele for their second term in office.

The Inauguration Steering Committee, which is headed by the Secretary to the State

Government, Mr. Tokunbo Talabi will be responsible for supervising other sub-committees for the inauguration ceremonies. This development is coming a few months after Adeleye lost an opportunity to represent Remo North Constituency in Ogun State. He had contested in the State House of Assembly Election, but failed to win a single polling unit out of the 132 in Remo North Local Government.

Akpata

Abdullahi

Mustapha

Nami

Adeleye

The Martins

NIGERIANS WHO PARTICIPATED IN CORONATION OF KING CHARLES III

History was made on Saturday, May 6, 2023 when Charles George was crowned as the King of England. The solemn Christian ceremony, deep in history and tradition of the British monarchy, took place amidst fanfare and ceremonial gun salute at Westminster Abbey in London, venue of the ceremony. An estimated 20 million people in the United Kingdom tuned in to watch the ceremony on Saturday. A few Nigerians were among those who made sure the event was seamless. They were closely involved in the ceremonies, either by virtue of their positions or influence beyond their home country.

SHADE WESLEY-METIBOGUN chronicles who these Nigerians are.

Sonorous singer, Tiwa Savage, joined the list of international artists, such as Lionel Richie, Take That, Katy Perry, and Olly Murs to perform at the coronation of King Charles III and Queen Camilla on Sunday evening during the coronation concert organised by British Broadcasting Corporation, BBC, which took place at Windsor Castle in England. It was the first time that a female African artist would perform at an event of this nature.

Windsor Garden Castle, venue of the coronation concert, is the oldest and largest occupied castle in the world. The castle hosted over 20,000 guests. It was also the first time that such an event took place at the castle. Dressed in a flowing green gown, proudly made by Nigerian designer, Lanre Da Silva, Tiwa sang, ‘Keys to the Kingdom’, a song she recorded with Tosin Ajibade, professionally known as Mr Eazi, which was featured in Beyoncé Knowles' album, ‘The Lion King’. The album was released in 2019. One of the highlights of Tiwa's performance was the two talking drummers who displayed the rich culture of Nigeria.

Reverend Tosin Oladipo

Reverend Tosin Oladipo, the newly appointed Nigerian chaplain to the Archbishop of Canterbury, Justin Welby, joined other clergymen to officiate at the church ceremony in Westminster. Oladipo was a digital and video tech expert in London before joining the ministry. After his ministerial training, he became a parish priest in East London and served with Archbishop Welby at the Lambeth Palace Community.

Ade Adelekan

Ade Adelekan, a Deputy Assistant Commissioner and a Security and Aviation Commander in the Metropolitan Police, was in charge of the security operation of the coronation of King Charles III. The operation he was in charge of was one of the most significant and largest security deployments the force has led. It had more than 29,000 police officers deployed during the coronation period. Adelekan is in charge of Metropolitan Police’s Aviation and Security Specialist Operations unit. The Operational Command Unit (OCU) works to protect and police airports and keep people safe from threats, including terrorism.

Pastor Agu Irukwu

James Numbere, a gospel singer from Buguma in Kalabari Kingdom, Rivers State, joined the rest of the Ascension Choir to minister during the church ceremony. It was the first time a royal coronation ceremony would hear the sound of joyful gospel music. Born in PortHarcourt to the late Apostle G.D and Pastor Dr Mrs N. E Numbere, the founders of Greater Evangelism World Crusade Ministries International, Numbere is not an alien to the British Royal Family. He was the first and only African to sing the British national anthem before the late Queen of England during her Platinum Jubilee.

Dame Elizabeth Anionwu

Dame Elizabeth Anionwu, the first United Kingdom sickle cell and Thalassemia nurse specialist, played a key role during the coronation. She was responsible for carrying the Sovereignty Orb during the procession. The Orb symbolises both the state and the Church under the protection and the domain of the monarch. Anionwu, who is a Professor Emeritus and CBE, was born to a Nigerian father and an Irish mother. Anionwu who has an inspiring pedigree and story came to look for her father in Nigeria when she was an adult. Her father was Lawrence Anionwu, the first Permanent Secretary in the Federal Ministry of Foreign Affairs and First Nigerian Ambassador to Italy.

Sir Kenneth Aphunezi Olisa

Agu Irukwu of Jesus House Church, United Kingdom was also one of those who played a significant role at the coronation ceremony. He was one of the church leaders in England selected to file out in a procession at some point during the ceremony. During the late Queen of England's funeral, he was also among the officiating ministers. Before he founded his own Church, Irukwu was a senior pastor at the UK headquarter branch of the Redeemed Christian Church of God, RCCG. He stepped down as the chairman of UK RCCG in April 2021. He also ceased from being the Chairman of the Board of Trustees and Executive Council of the RCCG in the UK and the Deputy Continental Overseer of the church in Europe. He was an investment banker before he quit for ministerial work. Nothing of consequence happens in Westminster Abbey without Sir Kenneth Aphunezi Olisa’s ceremonial honorific presence. He is a High Bailiff and Searcher of the Sanctuary of Westminster Abbey. At King Charles III coronation he was a member of the welcome party in his role as the High Bailiff of the sanctuary of Westminster Abbey.

The 72 year-old is also the Lord-Lieutenant of Greater London, that is, the kings personal representative in the City. During the late Queen of England's funeral, he was listed in the order of procession for the Queen’s funeral.

Born of a Nigerian father whom he never met from Onitsha, Anambra State and a British mother, Olisa is also the LordLieutenant of Greater London, a position he has held since 2015. He’s the first black Briton so honoured. His role as a Lord Lieutenant is to stand in for the Queen or King when unable to attend an event locally. A successful businessman who is on the board of most quoted companies, he’s widely seen as the most influential black Briton.

Additional reports by Ivory Ukonu

James Numbere

Tiwa Savage

FEATURES

Grim News From Asia: Indomie Special Chicken Flavour Conundrum

The grim news from Asia last week left many consumers all around the world sputtering on their favourite noodles. Lab tests conducted on a particular brand of the snappy meal (special chicken flavour) revealed presence of ethylene oxide a cancer-causing agent. Faster than a roadside vendor busting an egg or two on a steaming pan of noodles, Taiwan and Malaysia not only recalled the batches already on supermarket shelves, they stopped production of the noodles as well. As one of the largest consumers in the world, the regulatory body in Nigeria NAFDAC ordered similar tests on the noodles, making consumers wait with breathless anticipation as THEWILL found out.

Michael Jimoh reports…

Every morning without fail from Monday to Friday, Mama Messi readies her three-year-old son named after Argentine football legend Lionel Messi for school the same way most mothers do. A scrub down and then dress up. All the while, there’s water a-boiling in a pot, a pack or two of a brand of Indomie noodles already open to be dumped in.

Minutes later as Mama Messi squeezes snort from her adorable son’s nostrils, the meal is cooked. Stuffed with the egg-rich noodles, some portions ladled in his lunch pack tucked in a bag slung across his shoulders hiker-style, mother and son set out for school a glancing distance away from home at Opeilu where they reside near Egbado market in Ogun state.

“It saves time and gas,” Mama Messi told THEWILL of her preference for the snappy meal that has become a staple in many Nigerian kitchens - rich or poor and those in-between. The 39-year-old mother has a bar she tends at a Tee-junction. She has to go to the market sometimes, too, to replenish her stock. So, having a meal ready for the school-going Messi in the shortest possible time is best for her. She tried cooking rice once as an alternative to the noodles. Messi turned it down flat and cried all the way to school that morning. Plus the washing, parboiling and cooking for at least 15 minutes, rice was out of it for her. On that particular day, mother and son got to school late. It has been noodles since then and Messi is yumming it all up.

Also gobbling up the instant noodles every morning before school are two sibs, Onyiye, 12, and Kamsichukwu, 8. Shortly before resumption early in May, their mother, Mrs. Comfort Uche bought four cartons of Indomie Instant Noodles - each carton contains 20 packs. With two large packs for Onyiye and Kamsichukwu for breakfast, their mother reckons it would take them far into the term before buying some more.

“It is cheap and easy to prepare,” Mrs. Uche told the newspaper. Besides, the condiments and spices are there in the pack. “I don’t have to go to the market to buy tomatoes, salt and pepper, onions or vegetable oil before cooking.”

Mrs. Uche could have been speaking the minds of millions of mothers across Nigeria. Ever since Indomie noodles found its way into the cooking pots in Nigerian kitchens in the 1990s, it has remained there and even gained traction, a quickie meal that can be eaten at any time – as breakfast, lunch or dinner depending on the preparation and garnishing. Although statistics are yet unavailable about the culinary preference of school-going youngsters like Messi, Uche and Kamsichukwu, it is reasonable to assume that more than 70 percent of school kids in Nigeria slurp their noodles during lunch breaks and, may be, after school. Garnished to diners taste with spices and fish, chicken or meatballs, noodles is a meal you eat on the go, a readymade meal for a generation in a hurry. Preparing it – max time required from pot to stomach is five minutes - saves the pub owner time. His son loves it and everyone is happy.

You could say there are thousands of mothers like Mama Messi and Mrs. Uche who never fail to stock their ward’s school bags with the reedy consumable every morning. But in the wake of the recent disclosure by the health authorities of Taiwan and Malaysia that there may be ethylene oxide in the chicken flavoured brand, some Nigerian mothers have stopped feeding their kids with their favourite morning dish.

Mama Messi told the newspaper mid-week she stopped buying the Chicken flavour type for her son. Now, she buys another brand of noodles entirely and not Indomie anymore.

Noodles with attitude

The Indomie brand of noodles made a big splash with consumers when it first appeared in 1972 via an Indonesian tycoon Sudono Salim founder and owner of Bogasari Flour Mills. Different variants appeared in the market initially which Indonesian housewives loved for the same reasons as generations of Nigerian mothers will decades later. It was the dry variant Indomie Mi Goreng served without soup which made a bigger splash.

Recognised worldwide as a quickie meal, it is no surprise the various brands of Indomie have won some awards, among

On May 1, Taiwanese and Malaysian health authorities once again found ethylene oxide in the chicken flavour brand of Indomie. Ethylene oxide is a cancercausing agent. Both countries quickly raised the alarm and the health risk is posed to millions of consumers around the world. Like the first in 2010, Taiwan and Malaysia culled batches of the product from the market and stopped producing them. Lab technicians in both countries are hard at work to determine whether or not the popular noodles contain the lethal chemicals

...Indomie Special Chicken Flavour Conundrum FEATURES

them Lausanne Index Prize (L.I.P.), Indonesia Best Brand Award (IBBA), the Most Effective Ad award, the Indonesia Consumer Satisfaction Award (ICSA), and the Indonesia Best Packaging Award.

But it has not been thumbs-up for the noodles however. On October 7 2010, reports from the Taipei County Public Health Bureau said it found traces of sodium benzoate and methyl p-hydroxybenzoate cosmetic preservatives in Indomie noodle products. They immediately “ordered all vendors to withdraw the product from the market.”

Faster than a rifle shot, the parent company of Indomie Indo Foods countered the findings of the Taipei Health Bureau on October 11. "The company believes that the recent reports in the Taiwanese media arose concerning instant noodle products manufactured by ICBP that were not intended for the Taiwanese market.” With that clarification from the management of Indo Foods, the Taiwanese authorities on May 6 2011 “allowed the instant noodle products to re-enter Taiwan market.”

To the north west across the East China Sea from Taiwan, Hong Kong health authorities also banned the consumption of Indomie products, prompting two leading supermarket chains to withdraw the instant noodles from their shelves. But the company importing the noodles to Hong Kong, Fok Hing (HK) Trading, insisted the noodles were not only safe to consume but that they “meet standards in Hong Kong and the World Health Organization, based on the results of quality tests which found no hazardous materials.”

At the time, the Minister of Health in Indonesia Dr. Endang Rahayu Sedyaningsih also insisted the noodles were safe for consumption but “still advised the public to reduce the consumption of instant noodles.”

By the way, the name Indomie is a combo of Indonesia (Indo) from where the noodles originated and (mie) which means noodles in the Indonesian language. From the first reports of health risk to consumers then, Indomie has become a world brand, filling up Hungry Jacks in no time everywhere from Bali to Berlin, Lagos to Los Angeles, Moscow to Muscat, Riyadh to Rio de Janeiro. And such is the popularity of the stringy edible with gourmands worldwide that some people now see it as a world brand like the fizzy stuff Coke.

Indomie Chicken Flavour was riding the crest of its popularity in the world, swirling around in the digestive system of millions of school kids like Messi, Uche and Kamsichukwu when another scandal threatened to bring down its hard won fame.

On May 1, Taiwanese and Malaysian health authorities once again found ethylene oxide in the chicken flavour brand of Indomie. Ethylene oxide is a cancer-causing agent. Both countries quickly raised the alarm and the health risk it posed to millions of consumers around the world. Like the first in 2010, Taiwan and Malaysia culled batches of the product from the market and stopped producing them. Lab technicians in both countries are hard at work now to determine whether or not the popular noodles contain the lethal chemicals.

Of course, in this age of information technology when news literally travels faster than the speed of light, Nigerians and the rest of the world got to know of it pretty quickly. For one, Nigeria is reckoned to be one of the largest consumers of Indomie noodles, thus raising the bar of fear in millions of consumer’s consciousness.

The road to NAFDAC

For good reason, the regulatory body was the first point of call by concerned citizens and reporters. They wanted to know if that particular brand was safe for consumption and what was the agency doing to assure Nigerians that all was well concerning the recent findings by the Asian countries. In a THISDAY publication headlined “Indomie Noodle: Conflicting News, Half-Truths and NAFDAC’s Clarifications,” Raheem Akingbolu pretty much captured the situation: the panic, discussions online by Nigerians and NAFDAC’s response.

“Consumers of the leading noodles brand Indomie were thrown off balance at the weekend as the social media community was inundated with the news that the popular brand had been banned in Nigeria,” Akingbolu began.

“Perhaps because of the sudden surge of citizen journalism with little or no time for verification, this side of the story gained tremendous traction.

“With the headline: ‘NAFDAC bans Indomie Noodles’, some bloggers and social media enthusiasts activated their handles on Sunday through Monday morning. By the evening of Monday May 1, the news was everywhere that Indomie had been banned. For a market leader like Indomie, it became an issue management as many consumers became confused.”

On her part, NAFDAC DG, Professor Mojisola Adeyeye quickly put aside fears by Nigerians about the Asian noodles. First of all, Nigeria has since banned that particular variant of Indomie, Adeyeye stated, insisting that “NAFDAC was quick to assure Nigerians that importation of Noodles into the country has been banned for a very long period and such ban has not been lifted, so consumers have no cause for alarm.”

Prof Adeyeye pointedly noted that “Instant noodles has been on the importation prohibition list of the Federal Government for many years. This variant or flavour is not registered by the agency, nor is it produced locally here.”

Despite that reassurance, the DG went on to say that the agency will commence random testing of the noodle in question. “On May 2, 2023, NAFDAC’s food safety and applied nutrition directorate will randomly sample Indomie noodles (including the seasoning) from the production facilities while the post-marketing surveillance directorate (will) samples from the markets. The compound of interest is ethylene oxide, so the director of food lab services directorate has been engaged. He is working on the methodology for the analysis.”

Good enough from the DG. Still, Nigerians are worried about the DG’s clarification on the matter. One, if that particular brand has been on the prohibition list, why even bother carrying out random laboratory tests on other brands? Two, what would have been the position of NAFDAC if the Asian countries didn’t sound the alarm about the cancer-causing agent?

Mr. Tope Ashiwaju is the Group Corporate Communications and event manager, Dufil Prima Foods Plc, the Nigerian

parent company producing Indomie. Like Prof Adeyeye, he let on that “Indomie Nigeria is a different and separate entity from Indomie Taiwan and Indomie Malaysia.”

It is “locally produced in the country and operations have been ongoing for at least three decades.” Nigeria, he went on, “is a major consumer of instant noodles with the World Instant Noodles Association (WINA) placing the country as one of the largest consumers of instant noodles worldwide. The ban on the importation of instant noodles is not a recent development as instant noodles have been on the import prohibition list for years and we have not gone against this.” For now, what reporters now call the noodle nightmare is still unfolding. The Taiwanese and Malaysian governments have sent men in lab coats working round the clock to solve the mystery of ethylene oxide in the Special Chicken Flavour of Indomie.

Here in Nigeria, Adeyeye has told consumers to fear not. “NAFDAC, as a responsible and responsive regulator, is taking swift actions to carry out random sampling and analysis of Indomie noodles (including the seasoning) for the presence of ethylene oxide, as well as extending the investigation to other brands of instant noodles offered for sale to Nigerians. We use this medium to assure the public that a thorough investigation of the products will be conducted both at the factory and market levels and our findings will be communicated,” she said.

That is what millions of Nigerian consumers of the affected Indomie variant are waiting for: results of the tests because ingestible substances like food should help and not kill us or make us prone to a raft of diseases after consuming them. BSE was thought to cause some odd behaviour in those who ate an infected bovine. Severe and Acute Respiratory Syndrome (SARS) found in Asian birds sometime back created a scare so real most countries banned importation of the birds at once.

Will the Special Chicken Flavour of Indomie follow the same route as BSE and SARS? Time will tell.

NAFDAC, as a responsible and responsive regulator, is taking swift actions to carry out random sampling and analysis of Indomie noodles (including the seasoning) for the presence of ethylene oxide, as well as extending the investigation to other brands of instant noodles offered for sale to Nigerians. We use this medium to assure the public that a thorough investigation of the products will be conducted both at the factory and market levels and our findings will be communicated

Adeyeye

BY JUDE OBAFEMI

Nigeria’s sensational striker Victor Osimhen's exceptional performance and goal-scoring prowess were largely instrumental to Napoli’s emergence as Serie A champions, their first Scudetto in 33 years. The city of Naples celebrated the club’s achievement with awe and admiration and doused Osimhen with praise, drawing parallels to their reverence for Diego Maradona, who brought glory to Naples in the 1987/1988 and 1989/1990 campaigns.

As fireworks illuminated the city skyline and fans donned facemasks in tribute, Osimhen's determined drive towards excellence, regardless of the odds that fate had thrown on his path, had attained the summit of glory at this point in his professional career.

The journey of the 24-year-old from the impoverished Olusosun community in Lagos to conquering Italian football not only showcased his remarkable growth and perseverance but also proved the importance of grooming prospecting and promising youngsters from age-range competitions to the professional level. It carries with it the lesson that the budding talents in Nigeria are waiting to be discovered and encouraged to blossom within the sports community and that when such talents are mixed with hard-nosed determination to sustain the benefits of any opportunity to thrive, the day will surely come when the spotlight will shine and the world will stand to applaud the outcome as it is today for Osimhen.

It was not always obvious that the boy from the backwaters of Lagos was going to turn out quite successfully. That it even happened owes much to the concatenation of several interlocking factors and occurrences that combined with Osimhen’s grit and guts to see him reach the pinnacle of success in his chosen striking position at the tip of whichever team he found himself. An inkling into how dire his situation was and how unsavoury things may have turned out can be glimpsed from Osimhen’s own admission that very few believed anything good could ever come out of his family. The pinned tweet of his verified Twitter account puts it plainly: “If you knew where some of

Osimhen: Inspiring a New Generation of Football Stars

us came from, you woudn’t pray for us to fail.”

To better appreciate this stark expression, it is apposite to go back to the beginning of how the Osimhen family encountered the unfortunate loss of the mother of the house when the football star himself was still a young child. In his own words: "I lost my mom in October, I do not even remember the year. I was small. Three months later, my father lost his job. It was very hard for our family.” Osimhen described the situation of things in the family and how they struggled to survive.

"My brother sold sports newspapers, my sister (sold) oranges in the street and me, bottled water in Lagos in the middle of the traffic. We had to survive so we stuck together. In the evening, we were all together and we gathered the money on the table. We gave everything to our big sister and she made food and organised everything.”

These took place in the Olusosun community, which is commonly associated with a notorious landfill site located nearby. This landfill, which covers over 40 acres of land, serves as a dumping ground for waste and emits a

I lost my mom in October, I do not even remember the year. I was small. Three months later, my father lost his job

...Inspiring A New Generation of Football Stars

nauseating odour, creating an unpleasant sight for passersby, saying nothing of residents who lived with it. The area is always dimly lit, lacks basic amenities, and is a constant source of pollution, especially with the constant flames that arise from the regular incineration of the enormous pile of rubbish that is the community’s landmark.

Osimhen also noted how this same dump became a source of sports gear as he began to take his first steps towards a career in football. He said: “Where I grew up, people live on the other side of an open dump. With my friends, we went there every Friday or Sunday to find shoes. We stayed there a long time. It was funny! We saw it as a game but when you think about it … It was always a fight. Sometimes you see, you found yourself with a Nike on the right foot and then you start looking for the other foot … And finally, you find the left foot and it’s a Reebok! My sister patched everything up and it was good. It was survival."

Osimhen's football talent was obvious to those who saw him perform, especially at the Olusosun Primary School. Despite the challenging circumstances, the young boy found hope and inspiration in football from a young age. He joined a local cadet football club called Peric Academy, along with his friends, as they saw the sport as a means to a better life. Although some initially dismissed Osimhen's talent due to his humble appearance, he knew the potential football held for him, even when few others saw it.

Indeed, at one point, Osimhen briefly paused his football pursuits to work for a "Baba Ijebu" agent. His talent eventually caught the attention of Emmanuel Amunike, the coach of the then Under-17 national team, during trials with thousands of other prospects. Despite a setback during the trials, Osimhen's determination and raw talent impressed the assistant coach, who advocated for his inclusion in the team. He was given another opportunity to prove himself and ultimately made it to the Golden Eaglets' team that went on to win the U-17 Chile-hosted World Cup in 2015.

Osimhen played a vital role in the team's success, scoring an impressive 10 goals. His exceptional performance earned him both the golden boot, awarded to the tournament's top scorer, and the silver ball, given to the second-best player of the tournament.

Following this display, Osimhen, who was attracting attention from prestigious European clubs, such as Barcelona, Arsenal and Juventus, had to make a choice. Focused on personal growth, however, he decided to join VfL Wolfsburg, a German club in 2019. Unfortunately, his time at Wolfsburg was plagued by challenges.

In his first season, Osimhen suffered a severe knee injury that required three surgeries to repair. Shortly after recovering, he encountered a shoulder problem that further kept him off the field. Frustrated with his progress, the club sent him on summer trials with Belgian clubs Zulte Waregem and Club Brugge, but his physical condition was affected by malaria, and neither club decided to take him on loan. Wolfsburg then decided to loan him to FC Charleroi in the Belgian Pro League. It was during his time

Continued from Back Page

in Belgium that he quietly rebuilt his strength and resilience, showcasing his determination to overcome setbacks.

Osimhen made his debut as a substitute and scored his first professional goal in a match against WaaslandBeveren. He continued to score goals for Charleroi, finishing the first half of the season with 8 goals in 16 games. After a successful loan spell, Charleroi exercised their option to acquire Osimhen permanently. However, he was subsequently transferred to French Ligue 1 club Lille for a reported fee of €12 million plus bonuses and addons.

On Buhari’s Chronic Borrowing And Nigeria’s Debt Crisis

debt sustainability and economic stability.

To address the overwhelming debt burden, the incoming administration of Tinubu faces the crucial task of effectively managing Nigeria's debts and implementing measures to alleviate the economic strain on the country. This includes exploring alternative sources of funding, such as attracting foreign direct investment, promoting domestic revenue generation through tax reforms, and reducing reliance on costly central bank loans.

Furthermore, it is essential for the new administration to adopt a more strategic and prudent approach to borrowing, carefully evaluating the long-term implications and ensuring that borrowed funds are channelled towards productive sectors that can generate sustainable economic growth and reduce poverty levels.

Sadly the reckless borrowing that occurred during the outgoing Buhari government, particularly the signifi-

cant increase in Nigeria's local and foreign debt, has had detrimental effects on the country's economy, poverty levels, and overall standard of living. The incoming administration must prioritise debt management, explore alternative funding sources, and implement effective policies to promote sustainable economic growth and alleviate the burden on the Nigerian population. Only through responsible financial practices and strategic decision-making can Nigeria overcome its debt challenges and foster a brighter future for its citizens. The incoming Tinubu administration must be ready to hit the ground running as soon as Inauguration Day with the best minds to figure out how to increase government revenue and subsequently clean up the budgeting process and execution. I must add that a complete restructuring that will involve devolution of greater powers to the states must be on the table if the country is desirable of rapid and guaranteed economic prosperity.

Osimhen expressed his excitement about joining Lille and mentioned the club's successful history and the presence of notable Nigerian players who had played there before. He was assigned the number 7 jersey at Lille and he shone the brightest at the Ligue 1 side. His resurgence in Lille caught the attention of many, and in 2020, Napoli secured his services for a club-record fee of €70 million, making him the most expensive African footballer at the time. However, his journey with Napoli encountered setbacks due to injuries.

During a match for the Nigerian national team, Osimhen dislocated his shoulder, sidelining him for two months.

Furthermore, he contracted COVID-19 after a visit to Nigeria, further disrupting his season. Despite these challenges, Osimhen managed to score 10 goals, but doubts arose regarding the value of his price tag, compared to his on-field contributions. That was the status quo when this season began with the promise of giving him a fresh opportunity to shine. Yet, it was almost ruined by another injury once more. Osimhen suffered a severe injury when he collided with Inter Milan’s Milan Skriniar during a Serie A match against Inter Milan in November 2021. He suffered multiple facial fractures and had his eye come out of its socket. Osimhen underwent surgery, which involved the placement of titanium plates and screws to repair the damage. Although his recovery was a long and arduous process, he eventually made a comeback.

Fortunately, apart from a knock he sustained while on international duty with Nigeria in the return fixture against Guinea-Bissau, the 2022/2023 season proved to be injuryfree for Osimhen, allowing him to showcase his talents and form a remarkable partnership with Georgian strike partner Khvicha Kvaratskhelia, fondly called “Kvaradona” by the Napoli fans in reference to his likeness to Maradona.

Together, they played a crucial role in Napoli's successful campaign, which resulted in them securing the Serie A title for the first time in 33 years. Osimhen's contributions to the team were invaluable, as he consistently found the back of the net and provided assists. His performances not only solidified his place as a key player for Napoli but also drew admiration from fans and pundits alike. He was instrumental in guiding the team to the quarter-finals of the UEFA Champions League, further cementing his status as a top-class striker.

Indeed, many pundits aver that his absence in the first leg, and match rustiness in the reverse fixture against AC Milan, where he still found a way to force an equaliser, was largely responsible for Napoli’s ouster from Europe’s elite competition.

Osimhen's journey from the humble streets of Olusosun to becoming a prominent figure in European football demonstrates the power of determination, hard work, and resilience. He has become a symbol of hope for young Nigerians who face similar challenges and dream of a better future through football.

The losing U-17 team can take a leaf from Osimhen's story, which serves as a reminder that success is not always linear and that setbacks and obstacles are a part of the journey. His ability to overcome adversity and achieve greatness should be an inspiration for them, and the society at large, to persevere in the face of challenges.

The Nigeria Football Federation (NFF) can groom a new class of Osimhens with this group and the lesson of Osimhen’s success should be the evocation that pushes the Federation to liaise with coach Nduka Ugbade to help these youngsters remain focused in the same way that current President of Liberia, George Weah, inspired Osimhen to meet and break his Serie A scoring record by his blazing form this season.

On Buhari’s Chronic Borrowing And Nigeria’s Debt Crisis

The reckless borrowings of the outgoing government of President Muhammadu Buhari have demonstrated an unflinching, nonchalant attitude towards the country's crippling debt crisis. The administration's disregard for the implications of accumulating excessive debt is set to leave severe consequences for Nigeria's financial stability and future prospects, as well as encumber the administration of his successor with unwanted shackles. Yet, as bad as the forecast is, the government is still bent on worsening it with even more borrowing. To describe its debt habit as irresponsible is putting it mildly.

Nigeria's heavy reliance on borrowing to fund its budget, particularly in the face of global economic challenges, has raised significant concerns over Buhari's tenure. The country's ability to obtain foreign loans has been hindered by the global increase in interest rates and the shifting patterns of investor funds away from emerging economies. More so, the appreciation of the US dollar to a 20-year high has further exacerbated Nigeria's debt servicing costs, impacting the nation's overall financial health.

In response to the complex challenges facing Nigeria's economy, the International Monetary Fund (IMF) recently identified key policy priorities, including fiscal policy, monetary policy, exchange rate policy, and structural reforms that a responsible government is supposed to adhere to, but it has been a while that the country had the benefit of financially responsible governance. This administration ought to reduce off-budget commitments, improve debt management, and enhance domestic revenue mobilisation.

While these are crucial for the country to navigate the challenges posed by crippling debts, foreign exchange limitations and low foreign reserves, I would have expected the current Minister of Finance, Budget and National Planning, Zainab Ahmed, to be extremely prudent, creative and smart with revenue generation.

Economic analysts have consistently emphasised the importance of Nigeria exploring internal solutions, fostering innovation and diversifying revenue sources, expanding the tax net, combating oil theft, and considering the sale of forfeited properties to the Economic and Financial Crimes Commission (EFCC) as strategies to address potential shortfalls in revenue generation.

The country’s current revenue is just too small to fund the needs of the population and the Muhammadu Buhari Administration has failed to adequately address these concerns, as indicated by the recent statements of Ben Akabueze, the Director-General of the Budget Office of the Federation.

As if revenue shortfall was not significantly bad enough, Nigeria's budget-to-GDP ratio is significantly lower than that of other African nations, limiting the country's borrowing capacity. The government's inability to generate sufficient revenue to service its debt obligations has resulted in a high debt service ratio, reaching alarming levels of nearly 100 percent. The administration's budget allocation and prioritisation of government projects have come under scrutiny, given the limited resources and intense competition for funding.

This is why recent borrowing activities, including a new $800 million loan from the World Bank for postsubsidy removal palliatives, have raised further con-

cerns. This loan is supposedly to be distributed to the most vulnerable or poor people living in the country. Does anyone actually believe that these monies will actually get to the intended recipients? Your guess is as good as mine that the bulk of this new borrowing will be stolen by government officials and their collaborators working as consultants.

Nigeria's total external debt has dramatically increased

According to data from the Debt Management Office (DMO), Nigeria's debt to China has experienced a staggering increase of 209 percent over the past eight years. In December 2022, then country’s total borrowing from China reached $4.29 billion, a significant surge from $1.39 billion in June 2015, shortly after President Buhari assumed office. Chinese loans account for 84.73 percent of Nigeria's bilateral debt, with the remainder sourced from France, Japan, India, and Germany.

The growth in Nigeria's debt to China can be attributed to the favourable borrowing terms and conditions offered by China compared to other multilateral institutions. According to economic analysts, the driving factors behind Nigeria's substantial borrowing are obviously the country's revenue shortfalls and an expansionary fiscal policy, characterised by high budget levels, particularly for recurrent expenditure. Why the Finance Ministry will incur debt for recurrent expenditure is beyond my capacity to comprehend and they double-down instead of cutting off these unproductive spendings.

Despite extensive borrowing by the government, poverty levels in Nigeria have continued to escalate. The National Bureau of Statistics reported that 133 million people experienced multidimensional poverty in the previous year. This rise in poverty coincides with the significant increase in Nigeria's debt to China.

Nigeria's low revenue and rising interest payments have left the country with limited funds after servicing debt obligations. Persistent fiscal deficits are partly financed by costly Central Bank loans, resulting in a public debt stock-to-GDP ratio of 38 percent, slightly below the government's self-imposed limit of 40 percent. The preference for borrowing from China, driven by favourable terms, has exacerbated the challenge of allocating sufficient funds for infrastructure development and proper social welfare programs.

The World Bank, which is following the decline of Nigeria's economy closely, has continuously highlighted Nigeria's fragile fiscal position, particularly since the late 2021 global oil price boom. The organisation suggests that scrapping the expensive petrol subsidy, which consumed 2.3 percent of GDP in 2022, could alleviate fiscal pressure.

during President Buhari's tenure, primarily due to the devaluation of the naira, which has exacerbated the debt service burden. The country's borrowing practices have become increasingly unsustainable, with the overall debt reaching alarming levels and the budget deficit primarily financed through additional borrowing.

The recent decision to borrow funds for post-fuel subsidy removal palliatives, despite the suspension of the subsidy removal process, is particularly troubling. It raises questions about the purpose of taking on additional loans when substantial sums are being spent on subsidies.

The need for the government to prioritise cutting waste rather than resorting to borrowing is paramount. Questionable spending and diversion of public funds for personal interests, as evidenced by recent expenditures, have further eroded public trust and exacerbated Nigeria's debt crisis.

President-elect Bola Tinubu has pledged to end the subsidy, aiming to increase revenue. However, this move could also raise the cost of living for Nigerians already facing high inflation. With the outgoing administration still wanting to spend the $800m for subsidy removal palliatives, Nigerians might be worst hit in the near future.

The World Bank projects Nigeria's economy to grow at an average rate of 2.9 percent per year between 2023 and 2025, slightly higher than the population growth rate of 2.4 percent. However, the bank warns that an additional 13 million Nigerians will fall into poverty from 2019 to 2025 due to low economic growth. Currently, 41 percent of Nigeria's estimated 219 million population live in extreme poverty. In the absence of significant boosts in oil revenues and tax reforms, the World Bank forecasts that Nigeria's fiscal deficit will remain above 5 percent of GDP until 2025. The mounting debt burden, along with rising interest payments, poses challenges to Continues on Page 47

Sadly the reckless borrowing that occurred during the outgoing Buhari government, particularly the significant increase in Nigeria's local and foreign debt, has had detrimental effects on the country's economy, poverty levels, and overall standard of living