THEWILL NEWSPAPER, NEW YEAR EDITION 2024 by THEWILL NEWSPAPER

Africa’s Leading Oil Independent Secures Major Stake in Mozambique’s MAZENGA Gas Block

VOL 3 NO. 53 • NEW YEAR EDITION 2024 YEAR EDITION 2024

VOL 3 NO. 53 • NEW

IJIJEEOOM MAA UUbo bosisi ’s’s FROM FASHION ESTATE TOTO REAL REAL ESTATE FROM FASHION

Remarkable Entrepreneurial Remarka ble Journey Entrepreneurial Journey

PAGE 33

TH EWI LLNI GERIA

T HE W I L L N G

Transcorp Hotels Emerges Best Performing Stock as Market Cap Hits N40.9trn in 2023 PAGE 32

Deaths, Other Events That Shaped Entertainment Industry in 2023

PAGE 38

T HE W I L L N IG E R IA

Price: N250

NEW YEAR EDITION 2024 • VOL . 3 NO. 58

www.thewillnews.com

2023 Outstanding

Personalities, Institution of The Year

Digital

Photo: Kola Oshalusi @insignamedia Makeup: Zaron

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

Onah Nwachukwu Editor, THEWILL DOWNTOWN

jeoma Ubosi’s love for fashion started at a young age when she was on summer holidays while studying Pharmacy at the University of Bath. She travelled to America, stumbled upon a designer outlet, and started buying shirts from there and selling them in London. When she moved back in 1997, Pharmacy wasn’t regulated as it is now; therefore, it wasn’t fulfilling, so she decided to continue her business. Although she was doing very well in her business, she had always wanted to return to Pharmacy. However, in 1997, the conversion course was at the University of Jos. Having just married, she didn’t want to leave her husband for eight weeks, so she opted out. However, in 2019, she eventually took the course in Abuja and came out top of her class. She intends to embrace Pharmacy in her fifties, a journey she has begun, but for now, Kontessa, the clothing and retail business, gives her joy. Ubosi believes in different sources of income, so she also has a real estate business, which a friend introduced her to. You can read her intriguing story on pages 8 through 10. Our food page, Bon Appetit, discusses mindful eating this festive season. That’s on page 13. Do you have any beauty New Year resolutions? Our Beauty page discusses some resolutions you could make for better skin from the inside out. See page 12.

VOL 3 NO. 53 • NEW YEAR EDITION 2024

Don’t forget our pages are interactive now. Click on any page title on page 3 to go to that page. Here’s wishing all our dear readers a Happy New Year. Until next week, enjoy your read.

IJEOMA Ubosi’s FROM FASHION TO REAL ESTATE

Remarkable Entrepreneurial Journey

OnahNwachukwu @onahluciaa +2349088352246

Scan The QR Code to Read on Issuu

Scan The QR Code to Read Scan the QR Code to on Website Or Visit Download current edition www. thewilldowntown.com

New Edition Available Every Sunday @ 6am Nigerian Time PAGE 2

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

PAGE 3

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

PAGE 4

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

PAGE 5

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

COVER

2023 Outstanding Personalities, Institution of The Year BY AMOS ESELE, AYO ESAN, NTIANU OBIORA, SAM DIALA, MICHAEL JIMOH, JUDE OBAFEMI

he year 2023 was a watershed in Nigeria’s democratisation process since the dawn of the Fourth Republic in 1999. The year’s General Election held much promise for the people, high or low, rich or poor, who had yearned for a change in the fortune of the country amid worsening insecurity, ravaging poverty, double digit inflation and a crushed economy. What with the innovations in the electoral process, high demographic trend towards a youthful electorate that clustered round a “third force ” which was manifesting in the form of the Labour Party and its presidential candidate Peter Obi vis-a vis the major two political parties, the governing All Progressives Congress, APC and the MAIN opposition Peoples Democratic Party, PDP. The poll was a major event of the year. But the winners and losers had to go through the legal process, from the Tribunal, Appeal Court to the Supreme Court, to affirm their victories or accept their losses. Since the May 29, 2023 inauguration of elected officials, another wave of challenges is taxing the patience of Nigerians, particularly the removal of the subsidy on petrol, which has seriously affected the cost of food items, the floating of the Naira, which has created production uncertainty for manufacturers, and the insecurity

PAGE 6

threatening sustained agricultural production in the country. The insecurity continued to the end of the year, with the December 26, 2023 sectarian violence in Bokkos, BarkinLadi and Mangu Local Government Areas of Plateau State leading to the death of over 150 persons. Even politics and politicking was not left out, with the ongoing supremacy battle between the Minister of Federal Capital Territory, FCT, Nyesom Wike and Governor Siminialayi Fubara of Rivers State despite the intervention of President Bola Tinubu. It was not all that gloomy as the year rolled by. In early December, there was cheery news that the long awaited Port Harcourt Refinery was ready to go, with the completion of the facility’s mechanical works. Also, the ultimate game changer in the sector, Dangote Refinery, got a supply of about 3 million barrels of crude oil for its kick-off in January. Both refineries on stream are expected to ease the pressure on the demand for forex, with the elimination of freighting, landing costs and related charges. Amid these contradictions and the ups and downs in the politics and economy of the country, certain persons and institutions stood out as the good, the fair and the upcoming, raising hopes of renewal and the possibility of reassurance in the year 2024. It is for these reasons THEWILL chose them as

personalities and institution of the year. The personalities cut across politics, entertainment, football, business and economy. For their impact on politics during and after the 2023 general election, President Bola Tinubu and Peter Obi were chosen. For governance, Governor Babagana Zulum of Borno State, in our consideration, stands shoulders above his peers. The President of the Nigeria Labour Congress, NLC, Joe Ajaero rallied workers to stand up to the Federal Government in matters regarding their welfare. After almost two decades, Victor Osimhen of Napoli rekindled Nigeria’s sports glory by winning the 2023 CAF African Footballer of the Year alongside Asisat Oshoala of Barcelona FC, who emerged winner in the women’s category of the award for the sixth time. The Chairman of Dangote Group, Aliko Dangote, has battled infrastructural and finance obstacles to install the biggest private refinery in the world in the Lekki Free Zone in Lagos and the refinery is ready to kick-off production in January, 2024. Singer David Adeleke, aka Davido, rebranded Nigerian music worldwide in 2023. The Minister of Internal Affairs, Olubunmi Tunji-Ojo, has successfully tackled the challenge posed by passport racketeering in Nigeria, while his aviation counterpart, Festus Keyamo, SAN, has taken care of the rot in the aviation industry by making sweeping changes. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

COVER

...Personalities, Institution of The Year

y running a government that aims at inclusion rather than exclusion of the people, providing amenities for schools and communities, personally supervising the return of hundreds of Internally Displaced Persons, IDPs, in several camps to their homes, Governor Babagana Zulum of Borno State has been able to checkmate the fears and anxieties of the people as a result of many gruesome years of Boko Haram onslaught. He also leads by example. No favouritism. Other ethnic nationalities in the state have a strong sense of belonging in Borno State as no distinction is made in the provision of democracy dividends for the citizenry.

PRESIDENT BOLA TINUBU AS A DOGGED LEADER

Mr Emmanuel Egwudike, Coordinator of Ohanaeze APC support group, President of Tiv Community in the state, Mr Abraham Kaanti and Chief Saka Ganiyu, speaking for the Youruba community in Borno, agree that the governor has exhibited his love for the downtrodden and the less privileged by this gesture, adding that the governor is known for his attitude of not wanting to see people suffer. They urge other state governors to emulate Zulum to boost the unity in their respective states.

“

To become the President of Nigeria is my life ambition,” President Tinubu said in an interview after clinching the presidential ticket of his party, the All Progressives Congress, in July 2022. With that overriding ambition refocusing his campaign, he braced the odds he felt were imposed by his rivals and the opposition against his ambition: The government’s Naira redesign policy and fuel scarcity that taxed the strength of the populace and the generally poor performance of the outgoing President Muhammadu Buhari’s government, which created apathy in the polity and the red flags of the governing APC. After he was declared winner of the presidential poll by the Independent National Electoral Commission, INEC, amid a controversy over results manipulation, Tinubu forged ahead, went through and triumphed over litigation processes instituted by fellow contestants, Alhaji Atiku Abubakar of the PDP and Peter Obi of the LP. His policies, such as the unplanned removal of the subsidy on petrol and the floating of the Naira vis-à-vis the dollar is yet to begin the process of achieving the desired goal of production over import and economic stability, thus negatively impacting the living standards of the people.

have no political party and from the South-East, seen as the weakest geopolitical zone in the country, came a close third at his first attempt against an incumbent party and the opposition that was in government for over 16 years. Obi won the presidential election in Lagos State, the stronghold of the APC candidate, Bola Tinubu, who once governed the state and dominated its politics for more than 20 years. Obi also won at the Federal Capital Territory (FCT). Political analysts and watchers of political developments in the country think his performance is a good beginning and a sign of what to expect in the 2027 general election, as long as he sustains the tempo.

GOVERNOR BABAGANA ZULUM AS METAPHOR FOR GOVERNANCE

PETER OBI AS CHANGE AGENT

olitical pundits gave Peter Obi little chance in the 2023 general election. The swift manner with which he defected from the PDP where he ran as Vice Presidential candidate to former Vice President Atiku Abubakar in the 2019 poll to the LP, a few months to the 2023 Presidential election, ruled him out of the political equation in the consideration of experts. Obi contested the 2023 Presidential election on the platform of the LP, a party regarded as having no structure for a national election. His campaign was buoyed on the teeming youths who yearned for a change from the status quo. The youths formed an intimidating movement tagged Obidients, a large community that dominated social media. At the end of the election, Obi came third with a national spread of votes. Thus a candidate deemed to THEWILLNIGERIA

THEWILLNG

OLUBUNMI TUNJI-OJO: A BREATH OF FRESH AIR AT THE INTERIOR MINISTRY

THEWILLNIGERIA

or many years, Nigerians applying for International Passports literally had to wait till the second coming of Christ to be issued one. Whereas citizens of other countries got their passports in a matter of days, it took almost an age for a Nigerian to acquire one, thus making it something of a big deal or, as the Minister of Interior, Olubunmi Tunji-Ojo said last August, “a privilege.” Somehow, the agency entrusted with making this possible has, either deliberately or not, made such a mess of procuring this important travel document for their compatriots. The reasons for the delay in processing a Nigerian passport ranged from lack of printing paper to all kinds of human obstacles raised by the Nigeria Immigration Service, the very agency responsible for giving Nigerians their most recognised international identity.

PAGE 7

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

COVER

...Personalities, Institution of The Year With an ever-increasing population, Nigerians are among the world’s most travelling citizens. Thus, the demand for passports have risen correspondingly with the NIS unprepared to meet the demand or unsure of what to do at such pressing moments. For instance, the agency admitted to having a backlog of over 200, 000 last year. This was the discouraging situation when President Tinubu appointed Olubunmi Tunji-Ojo Minister of Interior last August. And once in the saddle, BTO, as he is fondly called, promised to makeover the mouldy ministry into a modern, tech-driven state apparatus. He has fulfilled his promise or, as journalists here like to say, walked his talk. How did he do it? Through his innovative use of tech-based solutions to problems that have stumped the dinosaurs at the ministry for decades. For instance, the Automated Passports Application is in the works where Nigerians can upload the required info to NIS portals. The APA is already 99 percent done, BTO said confidently recently. “We have done the testing and we should be going live in the next one week or so. That will ensure that all Nigerians need to do in an immigration centre, a passport centre, is just biometrics, just to take your fingerprints, that’s all.” And all that from the comfort of their homes! BTO is also planning for e-gates at international airports in Nigeria, all of which will be equipped with the gates by February 2024. E-gates are automated self-service barriers (automated border control system). In the minister’s words, “There will be no business seeing an immigration officer, except if such is a person of interest.”

because of dollar shortages.

President of TUC, stood a good head taller.

Upon assuming office as Minister of Aviation and Aerospace Development, Keyamo warned the management to sit up and straighten out or get fired.

But Ajaero was the most powerful among them in terms of reach and authority, wielding more power than even Gbajabiamila himself. As Tinubu’s right hand man, Gbajabiamila can be counted upon to call the shots some of the time in the seat of power, Aso Rock. Until his recent appointment to the Upper House of the National Assembly, Lalong’s word was law in the Ministry of Labour and Employment.

After a management retreat in Warri Delta State and an appearance before the Joint Committee of the National Assembly on Aviation and Aerospace where he reeled out measures to promote the interests of passengers and stakeholders in the industry and restore sanity, he embarked on sweeping changes in the directorates of the agencies, namely Federal Airport Authority of Nigeria, FAAN; Nigeria Airspace Management Authority, NAMA; Nigeria Safety Investigation Bureau, NSIB; Nigeria Meteorological Agency, NiMET; Nigeria College of Civil Aviation Technology, NCAT; and the Nigeria Civil Aviation Authority, NACA , a few days after the President had changed the Managing Directors and CEOs of the agency. Keyamo is also going ahead with a policy that will have airlines pay compensation to passengers for cancelled flights and for long flight delays. There are already improvements in the major airports across the country for passengers' comfort and convenience with the installation of new cooling systems and upgraded and clean restrooms amongst others.

JOE AJAERO: TRADE UNION BOSS WITH ATTITUDE

FESTUS KEYAMO: MINISTER WITH A MAGIC WAND

But none of them compares to the man who has the entire labour force of Nigeria under his thumb. With only his signature on a document, Ajaero can bring to a grinding halt the economic activities of Nigeria for days, weeks and even months. In fact, it was the imminence of such a strike nationwide that the newly sworn-in Tinubu quickly sent a high-profile government delegation to negotiate with the Ajaero-led NLC, deploying his CoS Gbajabiamila to sit at the table with them. Brutal military dictatorships can make short work of labour unions by jailing their leaders or sending them on exile. Civilian governments tread more carefully, so as to avoid the dictatorship tag, part of the reason why they mollycoddle labour leaders threatening industrial action. The several meetings between the NLC under Ajaero and the Bola Tinubu Administration over fuel subsidy removal had its rough patches and both sides were becoming testy at some point. The NLC blamed the Federal Government for betraying some of the agreements. On its part, the government thought the labour leaders were too headstrong, unyielding and forever digging in their feet. Ajaero himself looked the part: his perpetually smiling face belied his position as a hard bargainer. In the end, the NLC, on behalf of the long-suffering Nigerian workers, coaxed some concessions from the Federal Government as palliatives for the oil subsidy removal. Perhaps the labour leader hoped to repeat the same story of success at the state level in his campaign for worker’s welfare. And where better to start than his own natal state Imo where Governor Hope Uzodinma was ruling with the whims and caprices of an Oriental potentate. Just on the cusp of the last governorship election, Ajaero was to lead a statewide strike in Imo to force Uzodinma’s hand to pay up. With a combination of government guile, police connivance and thugs, the state preempted the union boss.

efore he assumed office in August, the aviation sector was virtually not working.

t under five feet in the numerous group photographs of NLC representatives with Federal Government officials before the short-lived nationwide strike over fuel subsidy removal by President Bola Tinubu, Joe Ajaero was clearly the shortest man among the lot.

If the workers were not engaged in a strike over working conditions and wages in an industry, the Airline Operators Association of Nigeria would be protesting over regular jet fuel shortages and international carriers would be struggling to take out revenue from ticket sales

Standing side by side with top government officials, such as Femi Gbajabiamila, Chief of Staff to President Tinubu, who led the government delegation and the then Minister of Labour and Employment, Solomon Lalong, Ajaero always looked dwarfish. Even his comrade Festus Osifo,

PAGE 8

What Nigerians saw next shocked them to their marrow: Ajaero thoroughly roughened up with a black eye, injuries all over him and evidence of a state-sponsored attack. While the labour leader blamed law enforcement agents, they in turn, fingered thugs as the culprits. Incredibly, they claimed to have held Ajaero in protective custody, to save him from the thugs who, in the police’s estimation, would have done him worse harm. Not one of the assaulters was arrested. But Joe survived the attack on his person. In an earlier encounter with the Federal Government over workers’ welfare, no one raised a finger against him all through the deliberations. It was acrimonious sometimes, but not one jot of violence. It was the workers who won in the end. Thanks to Joe. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

COVER

...Personalities, Institution of The Year YEAR OF THE COMEBACK KING

Davido’s influence was further cemented with his win at the maiden edition of the Trace Music Awards. Alongside Musa Keys, he bagged the Best Collaboration of the Year award. This victory was echoed by ABC's crowning of Davido as the King of Afrobeats, a title that speaks to his unparalleled impact on the genre.

ASISAT OSHAOLA: THE SUPER FALCON THAT SOARED

Adding to his list of accolades, Davido’s "Timeless" ranked 39th on Billboard's "Top 50 Best Albums of 2023: Staff List." The album was lauded for its vibrant blend of Afrobeat rhythms, amapiano beats and global sounds, showcasing Davido's unique ability to transcend cultural and musical boundaries. Forbes estimated Davido's earnings in 2023 to surpass $20 million, drawn from diverse income streams like royalties, brand endorsements, merchandise sales, and extensive concert tours. His comeback concert was a resounding success and his partnership with brands like Martell Cognac, Infinix Mobile and Puma only bolstered his financial and brand stature.

023 will be remembered as the year that Nigerian superstar Davido reclaimed his rightful place on the global music scene.

Following a string of remarkable achievements, including the release of his critically acclaimed album "Timeless," Davido has solidified his status as a pivotal figure in Afrobeats and beyond. Rihanna, the global pop icon, declared Davido's single "Unavailable," featuring Musa Keys, as her best song of 2023, a testament to the track's universal appeal and Davido's artistic prowess. This endorsement is a significant accolade in a year filled with milestones for the Nigerian artist. Davido's fourth album, "Timeless," released in early 2023, marked a triumphant return to the music industry. The album was not only a commercial success but also a critical darling, earning three Grammy nominations for 2024, including Best Global Album. Its eclectic mix of joyous love songs and dance hits, like the Grammynominated "Unavailable," resonated with audiences worldwide. In a heartfelt social media post, Davido reflected on the whirlwind of successes in 2023, expressing gratitude for the overwhelming reception of "Timeless." He acknowledged the support of his fans and the divine guidance that fueled his journey, making 2023 a year of personal and professional triumphs. He celebrated the “music, memories and magic” that defined his year, calling it truly "TIMELESS." THEWILLNIGERIA

THEWILLNG

On a personal note, Davido welcomed a set of twins with his wife, Chioma Rowland, adding another layer of joy to his extraordinary year. The arrival of their twins, a boy and a girl, in the United States was celebrated by fans and well-wishers globally. As 2023 draws to a close, Davido stands tall as a dominant force in the music industry. His journey through the year has been nothing short of spectacular, marking him as not just an Afrobeat icon but also a global music sensation. His resilience, creativity and undying passion for music have rightly earned him the title of 'The Comeback King.'

“

His policies, such as the unplanned removal of the subsidy on petrol and the floating of the Naira vis-à-vis the dollar is yet to begin the process of achieving the desired goal of production over import and economic stability, thus negatively impacting the living standards of the people

THEWILLNIGERIA

sisat Oshaola, the Nigerian forward for Barcelona Femení and the Nigeria women's national team, the Super Falcons, is widely regarded as one of the best female players in Africa and the world. In 2023, she proved her worth by leading the Super Falcons to one of their best ever performances at the Women's World Cup, reaching the last 16 in the new expanded World Cup format. With her contribution, Nigeria went through the group stages unbeaten for the first time. She also scored the winning goal in the match against Australia. Oshoala helped Barcelona on the way to another UEFA Women's Champions League title, which they lifted in June against Wolfsburg. She was named the African Women's Player of the Year again, extending her ongoing winning record for the sixth time. She was named in the list of Top 50 Best Female Footballers for 2023, ranking 28th. This achievement is even more remarkable considering that she is the only female African player to make the top 50 list. Off the field, Oshoala has been a beacon of inspiration to young girls. She has overcome injuries and setbacks to consistently perform at the highest level. Her journey and achievements serve as a testament to her resilience and dedication to the sport. PAGE 9

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

COVER

...Personalities, Institution of The Year VICTOR OSIMHEN: THE NAPOLI STAR WHO MADE HISTORY

According to the Nigeria Interbank Settlement System (NIBSS), commercial banks and other financial institutions generated N135.52 trillion from electronic payment transactions in Q1 this year.

DANGOTE REFINERY AS GAME CHANGER

down and nationwide scarcity of cash. Data released by NIBSS revealed that transactions worth N38.9 trillion were performed electronically in November 2023 alone through the NIBSS Instant Payment Platform (NIP). THEWILL understands that this is the highest monthly transaction record on the platform. The November figure brought the total value of NIP deals in the last 11 months to N345 trillion. Year on year, the e-payment value increased by 50 per cent, compared with the N25.9 trillion recorded in November last year.

ictor Osimhen, known for his pace, power and finishing ability, had a sensational year, the highlight of which included helping Napoli to their first time winning the Italian football league in over three decades.

The N38.9 trillion reported in November is also higher than the N34.5 trillion recorded in the preceding month of October by 12.7 per cent. The value of the e-payment recorded was a reflection of the increase in the volume of deals within the month. The NIP volume rose to 492.2 million in November, showing a 53.8 per cent increase over 319.9 million recorded in the same period last year.

Osimhen scored 29 goals in 34 games in the Serie A, becoming the highest goals scorer in the league and the first African to achieve that feat in the 126 years of the league's history.

The cashless policy of the Central Bank of Nigeria (CBN) is already gaining traction with many Nigerians embracing the use of the various e-payment channels for transactions.

Osimhen was voted best player in the league by his fellow players and coaches and also won the CAF Player of the Year award, the first Nigerian to do so since Kanu Nwankwo in 1999. Despite struggles with injuries, Osimhen remained a key player for his team and the Super Eagles.

According to NIBSS, over the years, Nigerian banks have exposed NIP through their various channels, that is, internet banking, bank branch, Kiosks, mobile apps, Unstructured Supplementary Service Data (USSD), POS, ATMs, etc, to their services.

These performances saw Osimhen ranked eighth in the 2023 Ballon d’Or. He was also nominated for the FIFA Best Awards for Best Male Footballer. Osimhen's achievements extend beyond the Italian league. He played a pivotal role in Nigeria's qualification for the Africa Cup of Nations (AFCON) by scoring five goals in four matches. His standout performance included a hat-trick against Sao Tome and Principe in the final AFCON qualification game, a testament of his exceptional goal-scoring abilities.

NIGERIA INTER-BANK SETTLEMENT SYSTEMS: ENABLING ELECTRONIC TRANSFERS IN CASH CRUNCH

he Nigeria Inter-Bank Settlement System (NIBSS) has put in place a modern world-class infrastructure for handling inter-bank payments in order to remove potential bottlenecks associated with electronic inter-bank funds transfers and payments/settlement of transactions. This system has been quite efficient and reliable in helping both individuals, companies, groups, institutions and governments move money electronically through accounts especially, during the COVID pandemic lock

PAGE 10

The development has boosted government revenue through the Electronic Transfer Levy which was incorporated in the Finance Act of 2023. Nigeria’s deposit money banks and other financial institutions, together with the Federation Accounts Allocation Committee (FAAC), raked in N135.56 trillion from electronic payment transactions in the first quarter (Q1) of 2023 as the Central Bank of Nigeria (CBN) intensified the cashless policy implementation.

“

This system has been quite efficient and reliable in helping both individuals, companies, groups, institutions and governments move money electronically through accounts during the COVID pandemic lock down and nationwide scarcity of cash

angote Petroleum Refinery is the world’s largest single-train 650,000 barrels per day petroleum refinery with 900 KTPA Polypropylene Plant. The 435 MW power plant in the refinery alone will be able to meet the total power requirement of Ibadan DisCo of 860,316 MWh, covering five states, including Oyo, Ogun, Osun, Kwara and Ekiti. According to Dangote Group, the refinery can meet 100 percent of the Nigerian requirement of all refined products – petrol, 53 million litres per day; Diesel, 34 million litres per day; Kerosene, 10 million litres per day and aviation jet fuel, 2 million litres per day - and also have a surplus of each of these products for export. Dangote is one of the few companies in the world executing a petroleum refinery project and a petrochemical complex directly as an Engineering, Procurement, and Construction (EPC) contractor. It has been stated that no individual owner has done the complete EPC contract for a petroleum refinery. Aliko Dangote successfully pulled this off with the wholesome support of the Central Bank of Nigeria under the leadership of Godwin Emefiele, its former Governor, who said the project was too strategic and important to the nation's economy. Designed to process a large variety of crude grades, including grades from African, Middle-Eastern producers and the US Light Tight Oil, the facility, indeed, proves a game changer in an economy with a record of energy deficit. With the receipt of a third crude shipment of 1 million barrels on Thursday, December 28, 2023 (about 3m barrels so far received), the company is gearing up to commence operations at 350,000 bpd with production of diesel and aviation fuel in January 2024. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

NEWS

President Bola Ahmed Tinubu (Right) welcomes Chairman of Progressives Governor's Forum/ Governor of Imo State, Sen. Hope Uzodimma, when the President had a meeting with members of the Nigerian Governor's Forum at his residence in Lagos on December 26, 2023.

Kano Reunites Parents 2024 Budget: MRA Knocks Military Eliminates 6,880 With Abducted Children Poor Funding For FOI Act Terrorists, Apprehends 6,970 Criminals M in 2023, Says DHQ N BY ABDULLAHI YUSUF

o fewer than seven abducted children from Bauchi State were reunited with their parents by Governor Abba Yusuf of Kano State at the weekend. The Police in Kano had earlier smashed an inter-state child abduction and trafficking syndicate and arrested nine suspects after months of tracking across seven states. This was the result of an investigation initiated by the Police Command in Kano State, following reports of missing children. The Commissioner of Police, Usaini Gumel, told journalists in Kano that the syndicate had been operating for over 10 years and it allegedly specialised in inter-state trafficking, abduction, buying and selling of children. Gumel said diligent investigation helped to dismantle the syndicate which had members in Kano, Bauchi, Gombe, Lagos, Delta, Anambra and Imo States. Governor Yusuf commended the efforts of the Kano State Police Command at smashing the syndicate. He, however, expressed dismay at the discovery of seven children abducted from Bauchi and then trafficked and sold in Anambra and Lagos States. He urged parents to remain vigilant and attentive to the wellbeing of their children as a fundamental responsibility. The Governor also called on his Bauchi State counterpart to take decisive legal action against the arrested suspects. In his response, Malam Saad from Bauchi, a parent of one of the stolen children, Abdulmutallif Saad, expressed his gratitude to Governor Yusuf and the Commissioner of Police in Kano State. Nine suspects, apprehended by the Kano State Police Command, were brought alongside the children they had stolen from Bauchi and intercepted at Mariri motor-park in Kano, while en route to Lagos State. Speaking on behalf of the Bauchi State Government, Barrister Sha'awanatu Yusuf, the Director of Public Prosecution at the state Ministry of Justice, emphasised the unity of Kano and Bauchi for the greater good of the two states. Barrister Yusuf stated that the Bauchi State Government would take the necessary legal steps to ensure that the suspects were brought to justice and face the full consequences of the law. THEWILLNIGERIA

THEWILLNG

edia Rights Agenda, MRA, on Friday expressed deep concern over the poor level of funding in the Federal Government’s 2024 budget for the implementation of the Freedom of Information (FOI) Act and FOI-related activities by public institutions, saying the situation signals the government’s lack of commitment to make the law effective. Announcing the release of its 18-page report titled “A Vote Against Transparency: A Report on Allocations for Freedom of Information Implementation in 2024 Federal Budget,” MRA called on the Federal Government to demonstrate an absolute commitment to the full and effective implementation of the FOI Act by allocating the appropriate resources required for this purpose. According to MRA, its analysis of the 2024 Federal Government budget proposal showed that out of at least 1,316 Federal public institutions, only 10 made specific allocations for FOI implementation or other FOI-related activities in their proposals, describing the situation as an indication that the FOI Act is likely to experience another year of extremely poor performance in its implementation by government institutions and authorities.

It noted that the situation in the 2024 budget is only slightly better than what was recorded in the 2023 budget in which only nine Federal ministries, departments and agencies made specific allocations for FOI-related activities and implementation in their budget proposals. The 10 public institutions with allocations for FOI-related expenditure in their 2024 budgets are: the National Directorate of Employment, Federal Ministry of Works, Federal Ministry of Budget and Economic Planning, Federal Ministry of Housing and Urban Development, Federal Ministry of Environment, Office of the Head of the Civil Service of the Federation, Federal Ministry of Labour and Employment, Nigerian Law Reform Commission, National Library of Nigeria, and the National Commission for Colleges of Education Secretariat. The Federal Ministry of Works has the highest budgetary allocation for FOI implementation with a total of N39,280,000.00, while the Nigerian Law Reform Commission had the second highest allocation with a proposal to spend N15,634,545 on FOI-related activities. MRA’s Communications Officer, Mr. Idowu Adewale, observed that a crucial consideration in ensuring the effectiveness of an FOI Law is making provisions in the budget for its implementation as this helps to ensure that the resources required to successfully implement the Law are made available.

THEWILLNIGERIA

he Defence Headquarters says the military eliminated no fewer than 6,880 terrorits and other criminal and apprehended 6,970 others between January and December 2023. The Director, Defence Media Operations, Major-General Edward Buba, made this disclosure while giving an update on the operations of the military in 2023 at the weekend in Abuja. Buba said the troops also rescued 4,488 kidnapped victims as well as recovered 3,320 assorted weapons and 39, 075 assorted ammunitions during the year. He added that the troops recovered 100.3 million litres of crude oil, 60.3 million litres of diesel, 3.4 million litres of kerosene and 3.3 million litres of petrol within the year. In the North-East, Buba said troops of Operation Hadin Kai neutralised 1, 759 terrorists, apprehended 953 suspects and rescued 538 kidnapped victims. Furthermore, he said the troops recovered 34 AK47 rifles, 346 assorted arms, 4,792 rounds of ammunition and 830 livestock. In the South-East, Buba said the troops of Operation UDO KA neutralised 464 terrorists, apprehended 907 suspects and rescued 518 victims. The troops according to him, recovered 65 AK47 rifles, 150 pump action guns, 53 dane guns, 85 pistols, 684 assorted arms, 1,083 rounds of 7.62 mm special, 4,371 live cartridges, 5,825 assorted ammunitions and 630 other equipment. According to him, the security situation in the year 2023 has remained fluid, complex and dynamic with the threat morphing in form and scale. “This unpredictable nature of the threat and the attendant demands for stability have continued to pose significant challenges for security forces, “ he said , adding that “consequently, various forces have continued to evolve tactics, technics and procedures to professionally respond to the threat.”

PAGE 11

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

POLITICS

INEC, Political Parties Begin Preparation For Rerun, Bye-Elections BY AYO ESAN

he Independent National Electoral Commission (INEC) has approved the timetable and schedule of activities for conducting bye-elections resulting from the resignation (or demise) of members of the National Assembly and State Houses of Assembly. The vacancies were announced by the Senate President, Speaker of the House of Representatives and Speakers of the State Houses of Assembly. The elections have been scheduled for Saturday, February 3, 2024. The vacancies occurred across two senatorial districts, four federal constituencies and three state constituencies spanning nine states of the federation. The two senatorial districts are Ebonyi South and Yobe East. The Minister of Works, David Umahi, won the last Senatorial Election in Ebonyi South, but he later resigned to take up appointment as a member of President Bola Tinubu’s cabinet. The federal constituencies are Kebbi State – Yauri/ Shanga/Ngaski; Lagos State - Surulere Federal Constituency; Ondo State- Akoko North East/Akoko North West; Taraba State - Jalingo/Yorro/Zing. President Bola Tinubu’s Chief of Staff and former Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, who was the candidate of the All Progressives Congress (APC), won the National Assembly Election in Surulere Federal Constituency, but he was later appointed as Chief of Staff. The Minister of Interior, Hon. Olubunmi Tunji-Ojo, won

PAGE 12

“

The two senatorial districts are Ebonyi South and Yobe East. The Minister of Works, David Umahi, won the last Senatorial Election in Ebonyi South, but he later resigned to take up appointment as a member of President Bola Tinubu’s cabinet

constituencies, others involve only a few polling units. Both categories of elections are scheduled to take place simultaneously in all affected constituencies on Saturday, February 3, 2024. The constituencies where the tribunals directed a repeat of the elections include the entire Plateau North Senatorial District. Others are Ikono/Ini Federal Constituency in Akwa Ibom State; Nnewi North/Nnewi South/Ikwusigo Federal Constituency and Orumba North /Orumba South Federal Constituency (election will take place in Nenka Ward, Orumba North) in Anambra State. In Cross River State, elections will be held in two local government areas and 11 registration areas, as well as 19 polling units in Akamkpa /Basa Federal Constituency.

the National Assembly election in Akoko North East/ Akoko North West before he was appointed minister, leaving the constituency without a representative in the National Assembly.

In Enugu State, elections will take place in the two local government areas that make up the Igbo Eze North/ Udenu Federal Constituency, which consists of 24 registration areas.

The State Houses of Assembly Election will be held in Guma, Benue State; Chibok in Borno State and Chikun 1 in Kaduna. Furthermore, INEC is also set to conduct re-run elections stemming from the last general election as directed by various Election Petition Appeal Tribunals.

Elections will equally take place in Igabi Federal Constituency of Kaduna State, which comprises one local government area, eight registration areas and six polling units; Kachia/Kagarko Federal Constituency of Kaduna State and in Birni Kudu/Buji Federal Constituency of Jigawa State where elections will only take place in two local government areas and five registration areas .

Currently, about 35 constituencies are affected by these court-ordered re-run elections. While three cover entire

There will be election in Faskari/ Kamkara Sahuwa Federal Constituency of Katsina State in two local THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

POLITICS

... Begin Preparation For Rerun, Bye-Elections

“

government areas, 12 registration areas and 25 polling units; Jos North/ Basia Federal Constituency of Plateau State with 30 registration areas and 1,209 polling units as well as in Arewa/ Dandi Federal Constituency of Kebbi State where election will hold in the two local government areas, 12 registration areas and 25 polling units.

The Labour Party (LP) has also released a timetable and schedule of activities for aspirants wishing to contest the February 3, Senatorial, House of Representatives and State Houses of Assembly bye-elections

Election will take place in Fika/Fune Federal Constituency of Kebbi State. INEC National Commissioner and Chairman, Information Voter Education Committee, Sam Olumekun said the electoral umpire released the timetable for the elections, including the detailed delimitation data (i.e. registration areas, names of polling unit, the number of registered voters and PVCs collected), platforms as a guide to political parties.

with disabilities (PWD) aspirants from payment of fees for the expression of interest forms only.

He urges parties and candidates to strictly adhere to the specified timelines for the seamless conduct of the elections.

The party also alerted the public to a fake timetable in circulation, purportedly released by some fraudulent and expelled members of the party, “seeking to defraud unsuspecting members of the public of their hardearned money through sales of fake forms.

Political Parties’ Preparation The three major political parties in the country, the All Progressives Congress (APC), the Peoples Democratic Party (PDP) and the Labour Party (LP) have released timetables and schedules of activities for the February 3, 2024, bye-elections and the court ordered elections.

Labour Party said, “Just like they did and failed in Imo, Bayelsa and Kogi States governorship elections, where some people fell into their trap and were defrauded, we wish to state clearly that the timetable from these fraudsters did not emanate from the LP and that the socalled account number in circulation is not known to the party.

The APC bye-election timetable was released last Monday. It was signed by the party’s National Organising Secretary, Sulaimon Argungu. According to APC, the sale of nomination, expressions of interest and delegate’s forms to contestants for Senatorial, House of Representatives, and State Houses of Assembly seats began on December 27, 2023. The sales will end on January 2, 2024. The party’s primary elections are scheduled to take place on January 6, 2024.

“We warn that people should disregard the fraudulent group. “The forms for the bye-election can be obtained at the office of the National Organising Secretary, National Headquarters, Utako, Abuja, where the proper accounts belonging to the party and other vital information regarding the coming elections will be made available to the aspirants and members of the public.

APC’s expression of interest and nomination forms for the Senate, House of Representatives and State Houses of Assembly are sold for N20 million, N10 million and N2 million, respectively.

“The Labour Party is also aware of selective attacks on some of our party leaders and aspirants in the Edo governorship polls by these fraudulent groups aimed at discouraging them from the governorship race.

However, for the PDP, the bye-elections timetable was released last Wednesday by the party’s National Organising Secretary, Umar Bature.

“We urge our aspirants to disregard their nuisance value and focus on the project before them. We also warn these falling villains to seek an alternate platform to vend their trade as Nigerians are already aware of their shameful gimmick which has since expired.”

Also, it covered the schedule of activities for the contestants in the senatorial, House of Representatives, and state Assembly seats, ahead of the February 3, byeelections. According to the PDP, the sale of nominations, expressions of interest and delegate forms began on December 28, 2023 and it will end on January 3, 2024. The PDP said the price for expression of interest and nomination forms for the Senate, House of Representatives, and State Houses of Assembly is N3.5million, N2.5million and N600, 000, respectively.

Meanwhile, both parties made concessions for youths and people living with disabilities. For the APC, female aspirants and persons living with disabilities are to pay for only the expression of interest form. For these persons, the bye-election nomination form is free.

The National Publicity Secretary of the Labour Party, Obiora Ifoh, said on Thursday that the National Working Committee (NWC) of the party had approved the purchase of nomination, expression of interest and delegate forms which commenced on December 28 and will end on January 4, 2024, while the submission of completed forms end on January 4, 2024. The Primary Elections will be held on January 7, 2024.

Also, APC youths aged between 25 and 40 years are required to purchase expression of interest forms. But there is a 50 percent discount on nomination forms.

The party’s leadership also approved fees for the expression of interest and nomination forms, respectively, as follows:

A similar rule exists in the PDP. The party said that female aspirants and persons living with disabilities would pay for nomination forms only, while youths below 40 years are expected to purchase expression of interest forms with a 50 per cent discount on nomination forms.

“Senate-N1.5 Million and N3.5 Million; House of Reps-N1 Million and N2 Million; State House of Assembly-N100, 000 and N500, 000.”

THEWILLNIGERIA

THEWILLNG

However, the LP exempted female aspirants and persons

THEWILLNIGERIA

Speaking on the coming bye-elections, a political analyst, Frederick Ojabor, said the exercise is going to be a litmus test for the INEC in the New Year. He told THEWILL, “The bye-election will be a litmus test for the INEC because it will take place in many states of the Federation. It will also be a prelude to the governorship elections in Edo and Ondo States which will be held later in the year. “INEC must prepare adequately and bring back hope to the people of Nigeria who were disappointed by its performance in the last general election due to noncompliance with putting the results of the presidential election in the viewing portal. “The performance of INEC will go a long way in restoring the confidence of voters in other elections coming up later in the year. “The security operatives should also put in their best during the election. All in all, President Bola Tinubu and the National Assembly should also give all the support to INEC”, he said.

PAGE 13

EDITORIAL

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

Port Harcourt Refinery: Enough of Speaking in Tongues

ontrary to expectations anchored on the renewed hope agenda of the Bola Tinubu Administration, the Port Harcourt Refinery, again, failed to resume actual production in December 2023 as promised. And this is roundly disappointing.

The NNPCL and other government officials had maintained at different fora that the December completion target of the refinery, which had consumed humongous resources, would be met to boost domestic production and reduce the high cost of importing refined petrol

During the nationwide strike by organised labour in July 2023 to protest the excruciating hardship resulting from the removal of fuel subsidy, President Bola Tinubu gave Nigerians the assurance that the Port Harcourt Refinery would resume production in December, 2023. At a meeting with the leaders of organised labour in the State House on August 2, 2023, the President said that the refinery would start production after the completion of the ongoing rehabilitation contract on the facility between the Nigeria National Petroleum Company Limited (NNPCL) and Italian firm, Maire Tecnimont SpA. The NNPCL and other government officials had maintained at different fora that the December completion target of the refinery, which had consumed humongous resources, would be met to boost domestic production and reduce the high cost of importing refined petrol. However, as in previous cases, the NNPCL failed to meet the target. Sadly, we are inundated with a cacophony of communications that point to different directions apparently designed to pull the wool across the eyes of Nigerians when it was obvious that the December target was a wild goose chase. In a press statement signed by NNPC Chief Corporate Communications Officer, Olufemi O. Soneye, titled “NNPC Ltd Fulfils Promise, Delivers Port Harcourt Refinery … Achieves Mechanical Completion, Flare Start-up of Refinery’s Area 5 Plant” and released on December 21, the national oil company claimed it had achieved its target of returning the facility to production this

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@thewillnews.com

month. “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” it quoted NNPCL Chief Executive Officer, Mele Kyari as announcing during a facility tour of the plant. However, industry experts and inner members of the refiners have countered the claim by NNPC, maintaining that the refinery is far from the state of resuming actual production. Among these is Engr Alex Ogedegbe, a former Managing Director of Port Harcourt and Kaduna Refineries at different times who explained that the so-called fulfilled promise was a hoax. According to him, the latest terminology, ‘Mechanical Completion and Flare start-up’ were never part of the original definition of NNPCL, as the target to be achieved by December 31, 2023. “Moreover this purported achievement advertised, has no practical effect to the public expectation, which was that the older, 60,000b/d refinery would start production for local consumption! “Mechanical completion can only be achieved, if and when all the progress statistics quoted in the NNPCL press release had reached 100%. Only thereafter can testing and commissioning of the refinery begin. “From the analysis of the information published so far it does not appear that the refinery can start any production in the foreseeable future,” Ogedegbe disclosed in a statement, adding, “It is also noteworthy that the main contractor, TECHNIMONT did not promise any mechanical completion or production start-up dates.” Most disheartening is the disclosure that the recent action by NNPCL merely

allowed a picture of the flare to be taken, on the pretext that the refinery had started operations. Inside sources disclosed that the event picture was misleading as the flare was shut down immediately after maintaining that production could not happen as the rehabilitation work was not completed. They also insist that Port Harcourt Refinery cannot make any products in the foreseeable future, because the units cannot take in crude oil for processing. They maintain that rehabilitation work has NOT been completed. “The Federal Government and NNPC know this truth, but they will not admit it publicly. In fact, no crude oil has been supplied to the refinery to date, for the same reason,” said Ogedegbe. The development is most embarrassing. Nigerians are eagerly awaiting the outcome of President Bola Tinubu’s promise to Nigerians that Port Harcourt Refinery would resume production in December 2023. Alternatively, it will amount to a serious breach of public trust for the facility to continue to wait for a real completion date, especially as the refineries are seen as a conduit for draining the nation’s oil revenue and impoverishing the citizens. Nigerians need to know why the Port Harcourt Refinery, again, failed to resume actual production in December, 2023 – a trend that has been in vogue for several years, leading to recent intervention by federal lawmakers. The Senate on October 24, constituted an ad-hoc committee to investigate all contracts estimated at over N11.35 trillion awarded for the rehabilitation of the four moribund refineries in the country. We call on the Senate to publish the report of its committee that probed the unending rehabilitation of the nation’s refineries at such a humongous cost, yet the nation continues to rely wholly on imported petroleum products.

THEWILL NEWSPAPER TEAM Publisher/Editor-in-Chief

Business Editor – Sam Diala

Photo Editor – Peace Udugba

Austyn Ogannah

Copy Editor – Chux Ohai

Head, Graphics – Tosin Yusuph

Editor – Olaolu Olusina

Cartoon Editor – Victor Asowata

Deputy Editor – Amos Esele

Entertainment/Society Editor – Ivory Ukonu

Circulation Manager – Victor Nwokoh

Politics Editor – Ayo Esan

THEWILLNIGERIA

Guest Art Director – Sunny Hughes

THEWILLNG

THEWILLNIGERIA

OPINION

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

Peace And Progress Model of Poverty Alleviation in Nigeria BY PROFESSOR GESIYE ANGAYE

n 2002, Nigeria’s population was estimated around 216.7 million and a total of 88.4 million, comprising 44.7 million men and 43.7 million women, lived in extreme poverty. Poverty means insufficient income, leading to a lack of food, shelter, education, health care, security, etc. Poverty persists partly because of mass unemployment, underutilisation of available natural and human resources, non-diversification of the economy, endemic corruption and inequalities. Therefore, any poverty alleviation programme should aim at engaging the unemployed poor in production activities in a secure and peaceful environment.

POVERTY PERSISTS PARTLY BECAUSE OF MASS UNEMPLOYMENT, UNDERUTILISATION OF AVAILABLE NATURAL AND HUMAN RESOURCES, NONDIVERSIFICATION OF THE ECONOMY, ENDEMIC CORRUPTION AND INEQUALITIES

Nigeria needs a comprehensive, multisectoral, community-based, bottom-up, peace and prosperity programme (PPP) to alleviate poverty. Peace is freedom from violence and disturbance from peers, partners, family, strangers, and the state. It is the absence of war, conflict or crisis. Peace of mind in relationships means feeling secure, valued and respected by your partner. Prosperity means one has a life worth living with enough income earned justly, good health, education, security, loving relationships, peace of mind and genuine happiness.

Prosperity (peace) is difficult to attain without peace (prosperity). So, peace and prosperity are intricately interwoven. Every community knows its poor and needs no computer programmes to identify same. So, the targeted beneficiaries or participants within and outside the community are to register for the programme at home. The community/home registration policy is aimed at proper identification of the poor, reversing rural/urban migration, decongesting the urban centres, combating crime and improving security and living conditions in both the urban and rural areas. The Peace and Prosperity programme is not a welfare programme to transfer free cash, which encourages laziness. It is a workfare project and beneficiaries will work to earn a living. The aims are as follows: To promote entrepreneurship, skills acquisition, employment and wealth generation. To produce enough food for consumption and surplus, for sale. To encourage the spirit of self-help, self-reliance and hard work. To combat criminalities and maintain security and peace. To engender a community-oriented mindset, sense of belonging, shared responsibilities and cooperation to achieve a common goal of successful, peaceful and prosperous living. To improve public facilities and services such as power and water supply, health, education, roads, etc. To reduce rural-urban migration, reduce urban congestion and enhance rural development.

The programme is to be jointly funded by the community, local, state and federal governments, development partners, NGOs, bilateral and multilateral organisations, etc. Communities provide land, labour, local raw materials, security, etc. The Federal Government can establish a peace and prosperity fund (PPF) like the Ecological Fund for the programme. Lands for the programme are to be provided by the various compounds and sections of the community with or without minimal compensation. The traditional landowners would be more willing to cooperate with the realisation that the lands are to provide food and employment for their own sons and daughters. There could be collective and/or individual farm plots. Participants must produce enough food for their own consumption and surplus for sale. There should be an adequate and timely supply of farm inputs and implements, such as improved seeds, pesticides, animal feeds, and farm machinery to reduce the drudgery of agriculture. The government needs to considerably improve public facilities and services, such as water and power supply, sanitation, roads, health, education, low-cost houses, etc. for participants and the community to enjoy. Beneficiaries/participants are to receive monthly stipends determined by management and this would vary from community to community. However, it is not a permanent employment and people must leave at the end of the programme. States and communities should specialise, according to their comparative advantage, and make the best use of available natural and human resources. For instance, Bayelsa State is rich in natural resources, which include mineral deposits (crude oil and natural gas); forest resources (mangrove, timber, iroko, mahogany and abura); cash/tree crops (oil palm, raphia palm, ogbono, rubber, coconut); food crops (cassava, plantain, bananas, rice, yams, cocoyams, sugarcane, vegetables and fruits); sand, gravel and clay; marine and freshwater fisheries resources. Therefore, in addition to massive food production, participants can engage in small and mediumsized fish, cassava, plantain, banana, rice, timber, palm oil and kennel processing; palm wine and gin distillery; boat and canoe building, snail culturing and plastic industry. Soft loans could be given to interested participants to engage in business ventures. The organisational structure and modus operandi of the programme will vary from community to community, depending on available facilities and services. It should be simple and flexible. It does not require the building of huge administrative halls, offices and houses to accommodate participants who would be living in homes of family members, relations and friends. Some meetings and activities can be held in palaces, town halls, school buildings, underutilised houses of the rich in the villages, etc. In pre-colonial Nigeria, the emirates, kingdoms and states were governed or ruled by Emirs, Kings, Obas, Obis, Ezes, Obongs, Amayanabos, etc. Traditional rulers today are still highly respected in many communities and have considerable political and economic influence. Traditional rulers know the poor in their domains and are supposed to cater for the needs of their subjects. Therefore, capable and non-controversial traditional rulers and chiefs with their community development committees are to manage and control the programme. *Continues online at www. thewillnews.com

Believe And Take Responsibility: A Christmas Message to Nigerian Youths BY BISHOP EMMANUEL BADEJO

wish to express my vote of confidence in you and in your ability to do well in life and to carve something good out of our world, despite economic and political woes, challenges in the education sector and moral deficiency in high and low places all around. I commend your determination, resilience and creativity and I refuse to join those who think that young people are the problems of our society or world. On the contrary, I believe that, given the right motivation, you remain the greatest asset of any society.

you, and the power of the Most-High will cover you with its shadow” (Lk.1:35). I think that is a prayer for all young people to make their own as they go through life. The secret is to develop a personal prayer life.

God Worked the Christmas Miracle Through a Child My confidence in your ability derives from God’s confidence in you, having given you life, good health energy and intelligence. Know that God has put you in this world out of love and He has a purpose and a plan for you. Keep saying that to yourself. If you ever think you are too small, think about Jesus at Christmas. God sent him as a child to save the world which was at that time, probably more wicked and dangerous than ours now. Remember that he was almost killed right at his infancy by a very powerful king Herod (Matthew 2), but he prevailed. As a youth, Jesus defined his purpose and plan: “The spirit of the Lord has been given to me for he has anointed me to bring the good news to the afflicted ….” (Lk 4:18). You see, it is never too early for you in life and follow it through. Learn from that and do the same. Whether it is poverty, hardship, lack of opportunity or resources, do not let your challenges define you. Believe that you can prevail. Rather, define your plans clearly in the face of those challenges and follow up with a firm, prayerful resolve. Believe in Yourself Recall that Jesus once said that those who believe in him will perform even greater works than himself (Jn 14:12). That may sound incredible, but Jesus cannot lie. Achieving this however requires that you develop confidence in yourself and your ability. Believe in the gifts that God has given to you not only to achieve personal greatness but also to transform your family, society, and country. This does not rule out the fact that you will sometimes have questions worries and challenges. Everybody has them. What matters more however is what you do with those challenges and worries, face them or let them face you down. Take It All to God in Prayer Look at the Virgin Mary! According to the Little Catholic Catechism, she must have been about 14 years- old when the angel visited her. She was just a youth, not even an adult. Yet God gave her the most important assignment of her generation to be the mother of the Saviour. Can this God who believes so much in young people not use you in an extraordinary way also? Of course, he can. Just ask yourself, how did Mary manage? How did she acquire the confidence and power to succeed? First, she asked God through His messenger, the angel. “How can this be since I know no man?” The angel then gave her reassurance that overcame all her self-doubt. “The Holy Spirit will come upon THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

DISENGAGE FROM THE CLASS OF YOUNG PEOPLE WHO TODAY WALLOW IN A “SENSE OF ENTITLEMENT,” QUICK TO TAKE ALL AVAILABLE PRIVILEGES BUT SLOW TO ENGAGE IN SACRIFICE, HARD WORK AND DISCIPLINE love for God.

According to Ronald Rolheiser in his book, “The Holy Longing”, “Only prayer can provide for you that fine line between depression and inflation… only prayer can ground a soul -and only it can save you from being either a depressive or asinine personality. If you do not pray, you will either be habitually depressed or obsessed with your own ego”. Other youth models to emulate in the Bible are Samuel (1 Sam. 3), called when he was very young and David (I Sam. 17: 17ff) who defeated Goliath and set his people free as a youth, both accomplishing what much older people could not do because of their

Experience is Still the Best Teacher After consulting with God, Mary went in haste to visit her cousin, Elizabeth, an older woman with abundant practical and spiritual experience, rather than just seek the counsel of her colleagues or people of her own level. Here was Elizabeth who had had to cope with tough challenges like barenness, rejection, old age etc. It was during her visit to Elizabeth that Mary realized who she had become and expressed full knowledge of her identity. She composed the Magnificat, arguably the most compelling thanksgiving song ever. She said: “…henceforth all ages will call me blessed” (Lk 1:46ff). I hope you can see here, God’s way of teaching you the importance of consulting those with greater experience than you at key life moments and in taking important decisions. Can anyone really love you more than your parents or relatives? Hardly! As the adage goes: “To know the way ahead, ask from those who are coming back.” •Bishop Badejo is the Bishop of Oyo Diocese

*Continues online at www. thewillnews.com

NEW YEAR EDITION 2024 • VOL . 3 NO. 58 WWW.THEWILLNEWS.COM

Thewillnigeria

Thewillng

thewillnigeria

Food Prices Rose in November – NBS

Foreign Direct Investment Shrinks to $59.77m in Q3’23

/ PAGE 34

FG Okays 100% VAT Waiver on CNG, LPG / PAGE 34

EDITOR Sam Diala

40TRN

(N'trn)

30TRN

20TRN

22.30

21.05

11.33

12.75

13.60

9.24

BY SAM DIALA

1TRN

27.92

10TRN

9.85

Continues on page 33

NGX MARKET CAPITALIZATION DEC. 2015-2022

Elumelu

hile Nigerian leaders comb the nooks and crannies of the world persuading foreign investors to troop in and invest in Nigeria, the National Bureau of Statistics (NBS) says Foreign Direct Investment (FDI) has shrunk to a paltry $59,77 million in the third quarter of the year (Q3 2023). This represents a decline of 30.52 percent compared with the previous quarter and a decrease of 26.86 percent against the corresponding period of 2022. The NBS in its latest report titled “Nigeria Capital Importation Q3 2023” revealed that mere $59,77 million representing 9.13 percent of the total capital importation was received. 'Other Investment' ranked top accounting for 77.56 percent (US$507.77 million) of total capital importation in Q3 2023, followed by ‘Portfolio Investment’ with 13.31 percent (US$87.11 million). “In Q3 2023, total capital importation into Nigeria stood at US$654.65 million, lower than US$1,159.67 million recorded in Q3 2022, indicating a decline of 43.55 percent. In comparison to the preceding quarter, capital importation fell by 36.45 percent from US$1,030.21 million in Q2 2023”, the NBS said. The report further showed that the production/manufacturing sector recorded the highest inflow with US$279.51 million, representing 42.70 percent of total capital imported in Q3 2023, followed by the financing sector, valued at US$127.93 million (19.54 percent), and Shares with US$85.49 million (13.06 percent). Unlike the past when the United Kingdom topped the originating source, Capital Importation during the reference period originated largely from the Netherlands with US$175.62 million, and recorded

Transcorp Hotels Emerges Best Performing Stock as Market Cap Hits N40.9trn in 2023

n a demonstration of sustained A B quality corporate leadership among the 155 listed companies, Transporp Source; NGX Hotels Plc emerged the best equity on the Nigerian Exchange (NGX), in terms of return-to-date performance for 2023. According to data by the local bourse, Transcorp Hotels recorded outstanding performance that singled it out during the year as a strong equity to beat. The hospitality industry leader closed its last trading day (Friday, December 29, 2023) at N70.18 per share on the Nigerian NGX, recording a 10 percent gain over its previous day’s closing price of N63.80. Transcorp Hotels began the year with a share price of N6.25 and has since gained 1,023 percent on that price valuation, ranking it first on the NGX in terms of year-to-date performance. The stock has accrued an outstanding 58 percent over the past fourweek period alone, the seventh best on NGX, to sustain the high tempo it recorded during the weekly reports on the local bourse. The NGX data showed that Transcorp Hotels is the 107th most traded stock over the past three months (Sep 29 - Dec 29, 2023) and has traded a total volume of 6.3 million shares -- in 1,163 deals -- valued at N304 million over the period, with an average of 99,977 traded shares per session. Further analysis revealed that the stock recorded a volume high of 754,237 achieved on December 13 and a low of 561 on December 4th, for the same period. Transcorp Hotels Plc is currently the 15th most valuable stock on the NGX with a market capitalisation of N719 billion, which is about 1.76 per cent of the NGX equity market value. This also represents a 1,023.4 per cent increase against the N64.02 billion market capitalisation as of December 31, 2022, signaling the anticipated robust year-end performance.

2015

2016

2017

2018

2019

2020

2021

2022

The hospitality subsidiary of Transcorp Group recorded an impressive financial performance for the third quarter of 2023, showing a strong year-on-year growth on all indices with optimism for a handsome dividend next year . The company recorded a 31.76 percent growth in revenue to N29.9 billion from N22.7 billion achieved in the previous year, and significantly higher than pre-covid performance. The Q3 2023 profit also grew by 62 percent to N5.5 billion from N3.4 billion. The company said the results reflected its commitment to delivering exceptional value to its stakeholders and sustaining its growth momentum. The Average Daily Rate (ADR) increased by 38 per to N134,739 from N99,390 during the same period in 2022, while Revenue per Available Room (REVPAR) grew to N106,244 by the end of September 2023 from N77,428 at the end of September 2022, a 34 rise. “Transcorp Hotels plays a significant role in boosting the hospitality industry which reflects in the Service and Non-oil sectors growth as shown in the quarterly gross domestic (GDP) report published by the NBS. Their Calabar subsidiary is a cash cow, according to their 2022 annual report,” said Akin Adejumoh, a stockbroker. Commenting on the results, Dupe Olusola, Managing Director/ CEO of Transcorp Hotels Plc said, “This consistent financial upswing reinforces our dedication to excellence and resilience in the face of economic challenges. We have remained nimble, adapting quickly to meet the dynamic preferences of our guests”.

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

BUSINESS WEEKLY ...Performing Stock as Market Cap Hits N40.9trn in 2023 According to her, the company continued to experience strong performance in its International Business Travel segment, as it took advantage of renewed investor confidence in the Nigerian economy as a new government resumed office. THEWILL recalls that Transcorp Hilton won the ‘Seven Stars Luxury Lifestyle Award’ five times in seven years. The ‘Seven Stars Luxury Hospitality and Lifestyle Awards’ (SSLHLA) is the most exclusive award for the luxury hospitality and lifestyle industry. According to the organisers, SSLHLA is designed to identify and separate the exceptional from the absolute best. Industry experts believe that Transcorp Hotels contributed to the bullish trend in the equity market that closed at a record N40.91 trillion on Friday, December 29, 2023. The Nigerian equities market hit the peak of N40.91 trillion in capitalisation at the close of trading on December 29, 2023, the highest in its 63 years of existence. All Share Index also set a record of 74,773.77. The performance resulted in a gain of N18 trillion year-to-date, when compared with the N22.91 trillion the market opened on January 4, 2023. The All Share Index gained 45.89 percent in 2023 compared to 19.98 percent in 2022. The Market Capitalisation and All Share Index were the highest since the establishment of the Nigerian Exchange in 1960. The Nigerian Exchange achieved the record high amid the nation’s highest inflationary trend (28.20 percent) and official exchange rate of N1,043.09 to a dollar as of December 28, 2023. Nigeria’s benchmark exchange rate for the 2024 budget is N750 to a dollar. Commenting on the N40 trillion market capitalisation benchmark first recorded on December 20, a member of the Institute of Stockbrokers of Nigeria, Mr Sola Oni, observed that the development is a landmark worthy of celebration, which he attributed to the active participation of domestic investors. “The N40 trillion market capitalisation was historic. There is much to celebrate for this milestone. Indigenous investors are becoming more active in the market since foreign Portfolio Investors with hot money are largely adopting a wait-and-see attitude. This is due to factors, such as scarcity of forex and volatility of exchange rates. In this era of rising inflation, a safe haven for equity investors is value stocks”, Oni said in a note to THEWILL. They have lower share prices and lower price-earning ratios. This category of stocks move along with inflation because of their intrinsic value. This is unlike growth stocks which exhibit superior performance during a low interest rate and low inflation regime. In an inflationary period, shares of small-cap, dividend growth, consumer staples, financial and energy sectors provide hedges. As in recent years, local participation in the equity market drove activity this year, accounting for 88 per cent or 2.9 trillion of total trade as of November, according to the NGX Foreign Portfolio Investment Report. That compares with 2022 when local investors’ cash accounted for 83.3 per cent or N1.8 trillion of the entire trade.

Transcorp Hotels plays a significant role in boosting the hospitality industry which reflects in the Service and Non-oil sector growth as shown in the quarterly gross domestic (GDP) report published by the NBS

...Investment Shrinks to $59.77m in Q3’23 26.83 percent share. This was followed by Singapore with US$79.15 million (12.09 percent) and the United States with US$67.04 million (10.24 percent). For investment destinations, Lagos state remained the top destination in Q3 2023 with US$308.83 million, accounting for 47.18 percent of total capital importation, followed by Abuja (FCT) with US$194.66 million (29.73 percent) and Abia state with US$150.09 million (22.93 percent). For financial institutions used to channel the investment, Stanbic IBTC Bank Plc displaced First Bank of Nigeria which topped the chart in the previous quarter. Stanbic IBTC Bank received the highest capital importation into Nigeria in Q3 2023 with US$222.84 million (34.04 percent), followed by Citibank Nigeria Limited with US$190.03 million (29.03 percent) and Zenith Bank Plc with US$83.04 (12.68%). Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy. Ownership of 10 percent or more of the voting power in an enterprise in one economy by an investor in another economy is evidence of such a relationship. FDI is a key element in international economic integration because it creates stable and long-lasting links between economies. FDI is an important channel for the transfer of technology between countries, promotes international trade through access to foreign markets, and can be an important vehicle for economic development. The indicators covered in this group are inward and outward values for stocks, flows and income, by partner country and by industry and FDI restrictiveness. Examples of FDI in Nigeria include the telecommunication firms, oil firms, supermarkets and hotels. It differs from Foreign Portfolio Investment (FPI) which consists of securities and other financial assets held by investors in another country. It does not provide the investor with direct ownership of a company's assets and is relatively liquid depending on the volatility of the market. Along with FDI, FPI is one of the common ways to invest in an overseas economy. FDI and FPI are both important sources of funding for most economies Despite the headwinds that characterised the operating environment when the economy slipped into a recession, equity market rallied amid buying interest from domestic investors, especially in bellwether stocks. Domestic investors also stepped up their listings on the local bourse at a time no foreign investor looked towards Nigeria. Investigation showed that, besides buying pressure, no less than N8 trillion was added to the capital market capitalisation through new listings by eight indigenous firms during the last two year period. The companies include Access Corporation (N562 billion), BAPlc (N62.5 million), Bua Cement (N3.31 trillion) and Bua Foods (N3.44 trillion). Others are Geregu (N750 billion), GTCO (N1.030 trillion), Ronchess Global (N223.6 billion) and Sterling Financial Holdings (N74.3 billion). The impressive performance dazzled market watchers who wondered how domestic investors that had played a minority role in the market dominated by foreign investors, could lift and reposition the local bourse at a very challenging time.

Africa’s Leading Oil Independent Secures Major Stake in Mozambique’s MAZENGA Gas Block

frica’s premier oil independent, Aiteo, has expanded its portfolio by securing a significant stake in Mozambique’s Mazenga gas block, the largest onshore gas reserve in SubSaharan Africa. The acquisition was finalized following a series of farm-in agreements with Mozambique’s national oil cThe Mazenga assets, nestled in Mozambique’s rich sedimentary basin, span approximately 23,000 square kilometers. They are estimated to contain a substantial gas reserve of 19 trillion cubic feet, highlighting the block’s significant potentiaompany, Empresa Nacional de Hidrocarbonetos (ENH), positioning Aiteo as the block’s operator In response to the acquisition, Aiteo has swiftly launched an intensive development program. This includes aeromagnetic and gravitational geological studies, thorough field inspections, and the reinterpretation THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

and processing of existing data Aiteo CEO Benedict Peters articulated the company’s dedication to robustly investing in gas development initiatives. These efforts aim to accelerate and enhance Mozambique’s upstream gas resources. Peters noted, “The assets we are investing in are situated in a region with some of the highest gas production potential in Mozambique. Our approach is rooted in our strategy of actively engaging with unique energy assets across Africa. We aim to elevate our profile and expand our global gas resources to meet industry-leading standards within the continent. Our proven track record gives us confidence in our ability to develop these assets, benefiting both Mozambique and all stakeholders.” Mozambique is home to some of the world’s largest natural gas reserves, particularly in the Rovuma Basin,

estimated to hold over 100 trillion cubic feet of natural gas. The country is currently developing several large-scale liquefied natural gas projects with the involvement of international oil companies like Total, ENI, and ExxonMobil. These projects are focused on extracting and exporting liquefied natural gas, with notable initiatives including Total’s Mozambique LNG project and ENI’s Coral South FLNG project. Aiteo, as Africa’s largest indigenous oil producer, already plays a significant role in the continent’s oil industry, producing nearly 100,000 barrels of oil per day and contributing over five percent to Nigeria’s daily oil output. With its expansion into Mozambique, Aiteo is aggressively pursuing exploration and production opportunities across Africa and beyond, adding to its existing assets in the Niger Delta basin and the Benue Trough.

PAGE 33

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

BUSINESS NEWS RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED RETURNS ON UTILIZATION OF FUNDS th 2023 ENDED 29 -DECEMBER SOLD TOFRIDAY CUSTOMERS FOR THE WEEK This publication: Mandated by the Central Bank of Nigeria (CBN) FRIDAY 29th-DECEMBER 2023 BANK: ECOBANK NIgERIA LIMITED This publication: Mandated by the Central Bank of Nigeria (CBN)

SN CUSTOMER

FG Okays 100% VAT Waiver on CNG, LPG

he Federal government has approved a 100% per cent Value Added Tax (VAT) waiver on Feed Gas for all processed, Compressed Natural Gas (CNG) and imported liquified petroleum gas, with immediate effect. The VAT-free waiver also extends to CNG equipment components, conversion and installation services, Liquified Petroleum Gas (LPG) equipment components, conversion and installation services, and all equipment and infrastructure related to the expansion CNG, LPG and the Presidential CNG Initiative, including conversion kit In a circular, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, directed the Nigeria Customs Service (NCS) and Federal Inland Revenue Service (FIRS) to immediately apply a zero per cent (0%) VAT rate on the items. The circular titled ‘Fiscal Incentives for the Presidential Gas for Growth Initiative’, read: “In line with His Excellency, Mr President’s commitment to improve the investment climate in Nigeria, and to increase the utilisation and supply of gas in the domestic market: “Pursuant to Part 1, Section 5 of the Customs and Excise Tariff Act, which grants an Import Duty Waiver on machinery, equipment and spare parts imported into Nigeria for the utilization of Nigerian gas (‘Gas Utilization Waiver’), the importation of all equipment related to Compressed Natural Gas and Liquefied Petroleum Gas into the Nigerian market shall attract zero per cent (0%) import duty rate “The eligible Compressed Natural Gas and Liquefied Petroleum Gas equipment covered by the existing Gas Utilization Waiver is outlined in the attached Appendix: Consequently, the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS) are hereby directed to apply a zero per cent (0%) Value Added Tax (VAT) rate on the following items;

Food Prices Rose in November – NBS

ood prices recorded average increase across the country in November 2023, the National Bureau of Statistics (NBS) has said. Average price of 1kg of boneless beef increased by 29.61 per cent from N2,337.46 recorded in November 2022 to N3,029.50 in November 2023. “On a month-on-month basis, price of 1kg boneless beef increased by 2.76 per cent in November from the N2,948.03 recorded in October,’’ it stated in its Selected Food Prices Watch report for November released in Abuja on Friday. It added that the average price of 1kg of local rice increased by 73.16 per cent on a year-on-year basis from N500.80 recorded in November 2022 to N867.18 in November 2023. On a month-on-month basis, price of 1kg of local rice increased by 5.83 per cent from the N819.42 recorded in October 2023 to N867.18 recorded in November 2023. Average price of 1kg of brown beans increased by 44.99 per cent on a year-on-year basis from N578.55 in November 2022 to N838.85 in November 2023, the NBS added. On a month-on-month basis, the price increased by 6.18 per cent from the N790.01 recorded in October 2023 to N838.85 in November 2023. The report also stated that the average price of 1kg of onion bulb rose by 60.62 per cent on a year-on-year basis from N425.71 in November 2022 to N683.78 in November 2023. On a month-on-month basis, the price increased by 15.35 per cent from N592.80 recorded in October 2023 to N683.78 recorded in November 2023. Average price of 1kg of tomato increased by 66.69 per cent on a year-on-year basis from N455.13 in November 2022 to N758.65 in November 2023, it stated. On a month-on-month basis, price of 1kg of local rice increased by 5.83 per cent from the N819.42 recorded in October 2023 to N867.18 recorded in November 2023.

PAGE 34

ITEM OF IMPORT

DATE OF USD FUND EXCHANgE DATE OF USD SALE EXCHANgE RATE FUND

AMOUNT

CUSTOMER

ITEM OF IMPORT

NIGERIA PIPES LIMITED PIPES NIGERIA

NAFTOMIX LPF 97233 GINDUSTRIALLPF RAW MATERIAL FOR NAFTOMIX 97233 GINDUSTRIAL MATERIAL FOR UPVC PIPES RAW INDUSTRY.

28-Dec-23

791.00

53,012.85

MULTI-CHEM MULTI-CHEM INDUSTRIES LTD

AGRICULTURAL INSECTICIDES AGRICULTURAL INSECTICIDES - MULTIPHOS (ALUMINIUM - MULTIPHOS (ALUMINIUM PHOSPHIDE PHOSPHIDE 560g/kg 560g/kg

28-Dec-23

855.00

40,000.00

MULTI-CHEM INDUSTRIES LTD

AGRICULTURAL INSECTICIDES - MULTIPHOS (ALUMINIUM PHOSPHIDE 560g/kg 560g/kg PHOSPHIDE

28-Dec-23

890.00

154,000.00

MULTI-CHEM MULTI-CHEM INDUSTRIES LTD

AGRICULTURAL INSECTICIDES AGRICULTURAL INSECTICIDES - MULTIPHOS (ALUMINIUM -PHOSPHIDE MULTIPHOS560g/kg (ALUMINIUM

28-Dec-23

888.00

16,000.00

TOMBO INDUSTRIES LIMITEDINDUSTRIES TOMBO

RAW MATERIAL CHEMICALS

29-Dec-23

816.00

54,804.00

MULTI-CHEM INDUSTRIES LTD

INDUSTRIAL RAW MATERIALS CALCIUM CARBIDE

29-Dec-23

751.00

10,139.42

29-Dec-23

751.00

10,139.42

L-R: Chairman, THISDAY Newspapers, Nduka Obaigbena; Minister of Information and National Orientation, Mohammed Idris; President Bola Tinubu; Publisher Vanguard Newspaper, Sam Amuka-Pemu; former Governor of Ogun State, Olusegun Osoba; President, Newspaper Proprietor’s Association of Nigeria (NPAN), Malam Yusuf Kabiru and other NPAN members, during a visit at the Presidential Villa, Abuja on December 18, 2023.

BANK: ECOBANK NIgERIA LIMITED

2 2

5 6

LIMITED

INDUSTRIES LTD

SALE

28-Dec-23

RATE

791.00

AMOUNT

53,012.85

UPVC PIPES INDUSTRY.

INDUSTRIES LTD

LIMITED

MULTI-CHEM INDUSTRIES LTD

28-Dec-23

855.00

888.00

40,000.00

16,000.00

PHOSPHIDE 560g/kg

RAW MATERIAL CHEMICALS

29-Dec-23

INDUSTRIAL RAW MATERIALS CALCIUM CARBIDE

816.00

54,804.00

RETURNS ON SOURCES OF FUNDS PURCHASED FROM CUSTOMERS FOR THE RETURNS ON SOURCES OF FUNDS2023 WEEK ENDED FRIDAY 29th DECEMBER, SN

PURCHASED FROM CUSTOMERS FOR THEAMOUNT SOURCE DATEthOF USD EXWEEK ENDED FRIDAYFUND 29 DECEMBER, CHANgE 2023

SOURCE

OTHERS

PURCHASE

RATE

DATE OF FUND 27-Dec-23 PURCHASE

USD EXCHANgE 744.00 RATE

AMOUNT

744.00

51,896.99

OTHERS OTHERS

27-Dec-23 27-Dec-23

744.00 744.00

93,518.29 991.58

2 4

OTHERS OTHERS

27-Dec-23 27-Dec-23

744.00 744.00

51,896.99 404.02

5 3

OTHERS

27-Dec-23

744.00

17,384.56 991.58

6 4

OTHERS OTHERS

27-Dec-23 27-Dec-23

744.00 744.00

93.16 404.02

OTHERS

27-Dec-23

744.00

OTHERS

27-Dec-23

744.00

486,223.78

OTHERS

28-Dec-23

744.00

38,639.61

OTHERS

28-Dec-23

744.00

OTHERS

28-Dec-23

744.00

362.65

744.00

486,223.78

9 12

OTHERS OTHERS

28-Dec-23 28-Dec-23

744.00 744.00

38,639.61 1,201,347.23

10 13

OTHERS DOMICILIARY ACCOUNTS

28-Dec-23 28-Dec-23

744.00 854.00

362.65 40,000.00

14 11

DOMICILIARY ACCOUNTS OTHERS

28-Dec-23 28-Dec-23

887.00 744.00

16,000.00 7.52

15 12

DOMICILIARY ACCOUNTS OTHERS

28-Dec-23 28-Dec-23

790.00 744.00

53,012.85 1,201,347.23

DOMICILIARY ACCOUNTS

28-Dec-23

889.00

154,000.00

OTHERS

29-Dec-23

744.00

5 6

13 14

OTHERS

27-Dec-23

OTHERS

27-Dec-23

OTHERS

27-Dec-23

OTHERS

27-Dec-23

OTHERS

27-Dec-23

DOMICILIARY ACCOUNTS DOMICILIARY ACCOUNTS

28-Dec-23 28-Dec-23

744.00 744.00

744.00

854.00 887.00

OTHERS

29-Dec-23

744.00

OTHERS

29-Dec-23

744.00

OTHERS

17 21

OTHERS OTHERS

18 22

15 16

DOMICILIARY ACCOUNTS

93.16

39.25 7.52

40,000.00 9,707.03

16,000.00

39,504.63

53,012.85 230.43

29-Dec-23

744.00

154,000.00

29-Dec-23 29-Dec-23

744.00 744.00

9,707.03 279.42

OTHERS OTHERS

29-Dec-23 29-Dec-23

744.00 744.00

39,504.63 259,294.34

23 19

DOMICILIARY ACCOUNTS OTHERS

29-Dec-23 29-Dec-23

815.00 744.00

54,804.00 230.43

DOMICILIARY ACCOUNTS

OTHERS

29-Dec-23

750.00

10,139.42

OTHERS

29-Dec-23

744.00

OTHERS

29-Dec-23

744.00

DOMICILIARY ACCOUNTS

29-Dec-23

815.00

DOMICILIARY ACCOUNTS

29-Dec-23

750.00

21 22 23 24

TOTAL AMOUNT AVERAgE AMOUNT

THEWILLNIGERIA

28-Dec-23

790.00

39.25

17,384.56

889.00

DOMICILIARY ACCOUNTS

28-Dec-23

93,518.29

744.00

THEWILLNG

17.52

279.42

2,527,898.28

259,294.34

105,329.10

54,804.00 10,139.42

THEWILLNIGERIA

TOTAL AMOUNT

2,527,898.28

AVERAgE AMOUNT

105,329.10

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

BUSINESS WEEKLY

Nigerian Economy: Grim 2023, Foggy 2024 Ahead BY MARCEL OKEKE

The rise in the debt stock is attributable to an increase of N1.80 trillion in domestic debt, moderated by a reduction in foreign debt from US$43.16 billion as of June 30, 2023, to US$41.59 billion as of September 30, 2023.

The failed Naira redesign project and its aftermath unleashed unprecedented scarcity of Naira notes early in 2023; more so, as the general elections in February and March drew near. This bizarre situation coupled with heightening electioneering tensions, translated into untold pain and hardship for the populace.

As the Federal Government is grappling with the reality of the impact of its economic reform measures, the World Bank in its most recent Nigeria Development Update (NDU) said: “the economic outlook for Nigeria in the short to medium term hinges on the continuation and effectiveness of its macroeconomic stabilization agenda.” The NDU report said the successful implementation of the initiated reforms would be the first step towards improving Nigeria’s growth prospects.

These political and economic tensions coupled with the backdrop of social upheavals and widespread insecurity in the land characterized the first five months of the year. And then, at his inauguration on 29 May, President Bola Ahmed Tinubu, apparently pandering to the dictates of the Bretton Woods institutions, made the now ‘unpopular’ fiat: “fuel subsidy is gone.”

The Federal Government, apparently sharing the World Bank’s optimism, had couched its 2024 budget on unrealistic assumptions, including an inflation rate of 21.4 per cent; exchange rate of N750/US$ and oil price of US$77.96 per barrel. But a dispassionate consideration of these benchmarks will show that the budget is built on a flimsy foundation.

The import, impact and ripples of this singular pronouncement have remained the proverbial last straw that broke the camel’s back. It practically threw the economy into a state of topsy-turvy, as price of petrol (Premium Motor Spirit, PMS) went through the roof. This fed into the prices of all goods and services; and has fuelled sharp and consistent spike in the rate of inflation.

Nothing in the global or local economic horizon can support the rate of inflation dropping from close to 30 per cent by year-end 2023 to the assumed 21 per cent for 2024. Same for the exchange rate, now hovering at around N1000/US$ in the official window of the foreign exchange market.

From a headline inflation of 21.82 per cent in January 2023, the figure had risen by over 600 basis points to stand at 28.2 per cent as at end-November 2023. It is very likely to hit almost 30 per cent, as ‘warned’ by the Bank of America in July this year. In an interview with Bloomberg, the bank’s sub-Saharan Africa Economist, Tatonga Rusike, had warned that at the pace inflation was trending, it could hit 30 per cent by year-end.

In the past seven months or so, the fuel subsidy removal and kindred policies like Naira floatation (or exchange rates unification) and return of 43 items (denied access to official window of forex market in 2015) to official forex window, have brought the economy to the nadir. For example, the Naira exchange rate to the dollar and other currencies has collapsed to worrisome levels: from around N465/US$ as of May, the rate has crashed to over N1000/US$ by mid-December. In the parallel window, the rate is fast hitting N1250/US$ as the year is drawing to a close. Rather than the economy getting stimulated via Government policies, it has been further stunted by nondescript potpourri of palliative packages for the populace. The Federal Government on its part, came up with ‘doling’ out of five billion Naira to each state for further sharing (in cash and kind) to the very vulnerable poor in their domains. Each state government also had to come up with motely palliative packages to assuage the pains unleashed on the citizenry by the fallouts of Government policies—especially, fuel subsidy removal. Some state governments had to reduce their official working THEWILLNIGERIA

THEWILLNG

Apparently unsure of the full impact of its policies or reforms, the Federal Government through the instrumentality of the Federal Industrial Court, continued to stall public protests and demonstrations. For the umpteenth time the Federal Government obtained court injunctions restraining Labour from organizing any protest/strike, pending the determination of (certain) substantive suit(s). And this has continued ad infinitum! With all of these, the dawdling economy kept moving with its Achilles heel—the piling stock of public debt— which had hit N88 trillion at end-September 2023. According to the latest report by the Debt Management Office (DMO), Nigeria’s total public debt rose to N87.91 trillion (or US$114.35 billion) as of September 30, 2023, from N87.38 trillion in June 2023.

y every measure, the year 2023 has been one of the most challenging in living memory to operators in all sectors of the Nigerian economy: all economic projections and benchmarks missed their targets by wide margins. The year opened with an acute scarcity of cash (Naira notes) and is coincidentally ending with another round of Naira scarcity—evidently marked by crowds of bank customers in various banking halls, especially in Lagos and other cities across the country.

He then advised Nigeria’s apex bank to respond to the trend by increasing its policy (interest) rate, stressing that if this was not done, “foreign investors might exercise caution before investing in the country.” Rusike’s views have turned prophetic!

As inflation was practically making nonsense of the purchasing power of the citizenry, the Organized Labour had been in a ding-dong with the Federal Government. As Labour (represented by the Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, and their affiliates) was pushing for significant improvement in the welfare and wellbeing of workers (of all categories), the Federal Government kept dillydallying and prevaricating.

Really, unless Nigeria’s dollar earnings improve dramatically (say, in a matter of months), the local currency will keep crashing against the dollar and other hard currencies days from five to two or three, in the face of the increasingly unaffordable transportation costs to the citizenry (their civil servants). Others chose to pay some token ‘salary awards’ to their workers. In the heat of all these, many business concerns had to either temporarily cut down operational capacity or adopt outright closure. The latter option is now proven to have been chosen by a number of multinational companies that have shut down their operations in Nigerian in the last seven months. The business environment has practically choked them out of the country.

THEWILLNIGERIA

The subsisting scarcity of dollar in the foreign exchange market, which ensures that demand over-strips supply of the green back, is bound to linger far into 2024 and beyond. In a forex market left to the forces of demand and supply (with the apex bank almost being the sole supplier) low dollar (earning) inflow into Nigeria is bound to tilt the balance against the Naira. Really, unless Nigeria’s dollar earnings improve dramatically (say, in a matter of months), the local currency will keep crashing against the dollar and other hard currencies. At present, even the assumed level of oil production in the 2024 budget is faulty; for a long while, Nigeria’s oil production has been seriously threatened by the bizarre phenomenon of oil theft, vandalism on facilities and widespread sabotage. It is therefore very doubtful if the production level that only recently inched up to 1.4 million barrels per day (mbd) could sharply rise to 1.78 mbd target in the 2024 Appropriation Bill. Also contending against this hoped-for-rise in production/ export volume is an impending OPEC quota cut for Nigeria. Nigeria’s new OPEC quota is believed to be in the region of 1.5 mbd, owing to its underwhelming performance over the years. In other words, for several years, Nigeria has been producing/exporting far below its official quota (of about 2 mbd). All these seriously belie the optimism on which improved (forex) inflow from oil is founded. It indeed leaves the entire economic outlook for 2024 yet foggy. •The Okeke is a practising Economist, Business Strategist, Sustainability expert and ex-Chief Economist of Zenith Bank Plc, lives in Lekki, Lagos.

PAGE 35

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

THANK YOU

Our sincere appreciation to you for your patronage. Happy New Year 2024.

TH EW I L L N I GERIA

PAGE 36

THE WILLNG

THE WILLNIGE RIA

www.thewillnews.com

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

SHOTS OF THE WEEK Photo Editor: Peace Udugba [08033050729]

L-R: Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu and Speaker of L-R: Osun State Governor, Ademola Adeleke; former Vice President, Yemi Osinbajo, Soun of Ogbomosho, the State House of Assembly, Rt. Hon. Mudashiru Obasa, during President Bola Tinubu's meeting with Oba Ghandi Laoye, his wife, Olori Omo Ghandi and Oyo State Governor, Seyi Makinde at the presentation politicians and traditional rulers in Lagos, at the Government House, Marina, on December 27, 2023. of staff of office to Oba Laoye in Ogbomosho on December 18, 2023.

L-R: Provost, The Cathedral of St. James The Great, Oke Bola, Rev'd David Olagbaju; Most Rev'd Joseph L-R: Bishop, Diocese of Lagos, Revd. Ifedola Gabriel Okupevi; his wife, Mrs. Modupe; Governor of Lagos Akinfenwa; Chancellor of the Church, Chief Bolaji Ayorinde (SAN) and Cathedral Priest, Ven. Dr. Sunday State, Mr. Bababjide Sanwo-Olu; his wife, Dr. Ibijoke and Baba Oba of Ifewara, Chief Oladele Fajemirokun, Ayegbusi, during Christmas Day Church Service in Ibadan on December 25, 2023. during the Christmas Service at the Cathedral Church of Christ, Marina, on December 25, 2023.

L-R: Guest of Honour, Mrs Nkiruka Ngene, Southeast Regional Head, Linkage Assurance PLC (LAPLC), Dr. L-R: President, Eko Club, Mr Razaak Amodu, inducted member, Mr Abdul-Rasheed Muri-Okunola Ngozi Obioha-Nkemdirim and LAPLC Marketing Officer, Mr Nnanna Orji-Uzo, during LAPLC end-of-year and Chairman, Board of Trustees of the Club, Mr Mabinuori Dawodu, at the Eko Club end-of-year party party in Enugu on December 26, 2023. in Lagos on December 27, 2023. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

PAGE 37

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

Guinness World Records Pandemic

Thewillsociety

thewillng

Thewillsociety

ENTERTAINMENT &SOCIETY WEEKLY EDITOR Ivory Ukonu

rom the moment celebrity chef, restaurateur, Hilda Effiong Bassey aka Hilda Baci successfully broke the Guiness World Record for the longest cooking time of 87 hours, 45 minutes, and 00 seconds set by Chef Lata Tondon in India in 2019 and setting a new record of 93 hours 11 minutes, her stardom caused a frenzy among Nigerian youths who came up with impromptu decisions to engage in unnecessary competitions that yielded no results at the end of the whole show because they did not stick to the rules of the game. Two chefs who attempted to break Hilda's record turned off their stoves and went to sleep during their attempts. A masseuse collapsed while attempting to complete a 72-hour massage performance to break the existing record. Another allegedly went partially Continues on page 42

•Anyiam-Osigwe

•Aloba

•Afolabi

•Amadi

•Nwafor

DAVIDO'S WILD OATS?

ack in June 2023, the country was thrown into a huge frenzy when not one but two women popped up with pregnancy claims for superstar singer, David Adeleke aka Davido. Another one, a Ghanaian, even claimed to have welcomed a child with him. Nigerians were naturally taken aback especially because it appeared as if Davido got busy lusting after other women rather than mourn the loss of his only son. They also wondered how Chioma was taking the supposed cheating scandal. It began when an American woman named Anita Brown stated that she had an affair with the married singer and was pregnant for him. She would

•Okereke

DEATHS, OTHER EVENTS THAT SHAPED ENTERTAINMENT INDUSTRY IN

Continues on page 42 THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY

Nigerian Music And Movie Stars Who Died in 2023 The Nigerian entertainment industry witnessed the passing away of several celebrities in 2023. IVORY UKONU takes a look at some of these late artistes who left indelible marks in the industry.

Ilerioluwa Aloba

Obinna Nwafor

lerioluwa Aloba, popularly known as Mohbad, died on September 12, 2023, at the age of 27. Although there were video evidences that the singer was bullied and assaulted by Samuel Balogun, aka Sam Larry, and an associate of the singer, Azeez Fashola, aka Naira Marley, the police however claims that he died as a result of a wrong injection administered to him by an auxiliary nurse identified as Feyisayo Ogedengbe. According to the police, the injection caused a chain reaction that directly resulted in his death. MohBad was signed to Naira Marley’s Marlian Records, but he left the label in 2022 after he fell out with his boss.

ollywood actor Obinna Nwafor, popularly known as Saint Obi, died N less than 24 hours after his colleague, Murphy Afolabi, passed on. Nwafor reportedly died a week before his death was made public at the home of one of his sisters in Jos, Plateau State. Apart from battling ill health, which eventually led to his death, Saint Obi was not a happy man as he was in and out of the courts over the dissolution of his second marriage to Lynda Amobi who sabotaged the divorce process and the custody of his children. He died at the age of 57. Saint Obi was very popular in the 90s and early 2000s as he featured in over 100 movies.

Cindy Amadi ollywood actress, Cindy Amadi, known for her role in the lesbianN themed movie titled, 'Ife,' died in September 2023. The cause of her death was however not made known.

Dejumo Lewis ejumo Lewis was a veteran film and D television actor, famous for his role as ‘Kabiyesi’ in the now rested television drama series, 'The Village Headmaster.' It was Nigeria’s longest-running television soap opera shown on NTA from 1968 to 1988. Lewis was born in 1943 in Ekiti State. He had his primary education at the Holy Cross Primary School in Lagos Island and attended St Gregory’s College, Lagos for his secondary education. Lewis went to junior seminary to become a priest at St Theresa’s Catholic Minor Seminary in Ibadan. He eventually abandoned the priesthood to study at the University of Ibadan for a Master’s degree in Communication Arts. He was pronounced dead on December 23, 2023. He died at the age of 80.

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

Peace Anyiam-Osigwe eace Anyiam-Osigwe was the founder of the globally P acclaimed film event, Africa Movie Academy Awards, AMAA in 2005, with the award ceremony reputed to be one

of the most recognised awards for Africans in film-making. In 2020, she emerged as the National President of The Association of Movie Producers. A graduate of Law and Political Science from Oxford Brookes University, England, Anyiam-Osigwe pioneered the screening of Nollywood films at international film festivals. She was also a movie director and a Member of the Order of the Federal Republic. She was conferred with the national award for her contribution to the entertainment industry. Anyiam-Osigwe died on January 9, 2023 at the age of 53 after being in a coma at the St. Nicholas Hospital, Lagos for two days.

PAGE 39

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY Murphy Afolabi

Oluyemi Adeyemi ctor and A movie producer,

Murphy Afolabi died on May 14, 2023, almost two weeks after he celebrated his 49th birthday, from injuries sustained when he fell down in his bathroom. Afolabi, who started acting at a young age, shot to fame following his role in the movie ‘Omo Rapala.' He acted in over 50 movies when he was alive.

Chikezie Uwazie

ctor Oluyemi A Adeyemi, popularly known as Suara, rose to fame with his role in the 2001 edition of the Wale Adenuga TV drama series, Super Story. He died on Sunday September 25, 2023, but the cause of his death is still unknown.

Ojo Arowosafe ollywood actor, Ojo Arowosafe, popularly known as Fadeyi Oloro, N died on Tuesday, March 7, 2023 at the age of 66 after a protracted illness. Fadeyi Oloro was famous for his oratory skill, particularly in reciting Yoruba incantations. He rose to fame after acting in the movie ‘Arelu’ in the late 1980s. He also acted in many other Yoruba movies, such as 'Inubibi,' 'Anike Olufa' and 'Akoni Mefa,' among others.

ollywood actor Chikezie Uwazie died on Sunday, May 14, 2023 N after undergoing brain surgery in the United States. Chikezie, who is one of the leading stars of the early 2000s, left Nigeria for the United States over seven years ago. Before he relocated, he featured in several Nollywood flicks.

Femi Ogunrombi or a long time, Femi Ogunrombi played the FAdenuga’s role of Papa Ajasco, a lead character in Wale television comedy series, ‘Papa Ajasco

and Company.’ The character was well-known for his portly belly and the habit of tapping the back of his head and chanting 'Ojigbigbigbi' when excited. Ogunrombi, who was an ethnomusicologist, joined the cast of Papa Ajasco and Company after Abiodun Ayoyinka pulled out of the sitcom. Unlike his twin brother, Ogunrombi had switched from the medical sciences to study music and drama at the University of Ife (now Obafemi Awolowo University), where he, alongside other talented students founded a singing group called Ayoro Voices. He died on January 14, 2023.

PAGE 40

Cynthia Okereke known for movies, such as 'Katakata,' 'Idemili' Sat ageheandwasof'For53antheafteractress Love of Isiuwa'. She died on July 11, 2023 in Nigeria a brief illness. Cynthia died almost one year after she was kidnapped alongside her colleague, Clemson Cornel Nonyelu, popularly known as ‘Agbogidi’, while filming in Enugu in 2022. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY Chris Mba

Adedigba Mukaila eteran pop V singer, Chris Mba, died on May

eteran actor V Adedigba Mukaila, best

3, 2023, after a long battle with heart issues. The musician, who was famous in the 1980s for his jerry curls and hitsongs, such as ‘Funky Situation’, ‘Baby Don’t Cry’, ‘Making My Way’ and ‘Love Everlasting’, died at the Lagos University Teaching Hospital, Ikeja.

known by his stage name ‘Alafin Oro’, died on May 13, 2023. He is popularly known for his ‘herbalist’ and king roles in many Yoruba movies.

Sunday Akanbi Akinola he veteran Tbecame actor who popular

for his role as 'Mogaji' in the television series 'Feyikogbon' which aired on NTA in southwestern Nigeria in the 1980s, died of kidney failure on January 9, 2023. He was aged 80.

Usman Pategi

Yul Edochie’s son

annywood legend, Usman Pategi, became popular playing the lead K role in the defunct Nigerian Television Authority, NTA drama series titled 'Samanja' back in the 1980s. He died in November 2023 at the

ollywood actor, Yul Edochie faced a heartbreaking moment as he lost his first son, Kambilichukwu Edochie, two months after celebrating the young boy’s 16th birthday with his wife, May Edochie. The 15-year-old passed out at school while playing football and developed a seizure. He was rushed to the Mother and Child Hospital, Lagos, where he died hours later.

age of 81. The cause of his death is unknown.

Nkem Owoh's daughter eteran Nollywood actor Nkem V Owoh lost one of his daughters, Kosisochukwu, to cancer. She died on June 28, 2023 at the age of 24. After her death, her father was accused of abandoning his family, treating them badly and failing to fulfil his responsibilities as the head of the family. A man who claimed to be a relative of Nkem Owoh’s wife said the actor’s late daughter had begged her father to sponsor her treatment abroad, but he did nothing until she eventually passed away. THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

Don Brymo Uchegbu egendary actor best known for his royal father, traditional roles Lshooting in movies, Don Brymo Uchegbu, died after he slumped while a film in Ahoada, Port-Harcourt, the Rivers State capital. He was immediately rushed to the hospital, where he gave up the ghost. Uchegbu suffered a partial stroke. A native of Enugwu-Ukwu in Njikoka Local Government Area of Anambra State, he was one of the mostsought-after actors in Nigeria and started his acting career way back while still in secondary school. He has acted mostly in epic movies, contemporary movies, glamour movies and action thriller movies.

PAGE 41

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY

Events That Shaped The Entertainment Industry in 2023

Raging Inferno Through Celebrities' Homes

The sum total of the Nigerian entertainment scene in 2023 was a mixture of the good, the bad, the ugly and the ridiculous. IVORY UKONU looks back at some of these events and activities that defined the entertainment landscape this year.

Oladips' Fake Death

fter seeing the surge in the number of downloads, shares and retweets and even extended airplay on radio, television and nite clubs, of Ilerioluwa Aloba, aka Mohbad's songs after his death, indigenous rapper, Oladipupo Olabode Oladimeji otherwise known as Oladips, decided to fake his own death to promote his upcoming music album. In what social media users have described as “pulling a Skiibi,” referring to the first Nigerian artist, Abbey Elias aka Skiibii, to fake his death, Oladips was pronounced dead on November 14, 2023, by his management who stated that he had been battling an illness privately for two years. At the time Oladip’s ‘death’ went public, social media users had not recovered from Mohbad’s death and the news was incredibly saddening. Unfortunately, the stunt boomeranged in his face such that it may have stunted his music career, which is yet to take

Oladip

Continued from page 38

Guinness World Records Pandemic blind during his attempt to cry for a complete week. He confessed to experiencing headaches, puffy eyes, and a swollen face during his attempt forcing him to re-strategize and reduce his wailing. Another landed in the hospital after completing 58 hours of hand washing by an individual. Guinness World Records is yet to formally recognise her attempt. Other attempts ranged from singing for 200 hours to frying the most snails. Even GWR struggled to keep up with the number of attempts by Nigerians. At some point, the organisation had to tweet, "Please enough of the record-a-

PAGE 42

off. Many of his close associates and friends confessed that he was indeed alive. After unsuccessfully trying to push the blame to his friends who announced that he was still alive, including his management for rushing to make a public announcement of his death, Oladips succumbed to pressure and apologised to Nigerians for the fake death stunt. He expressed regrets for ‘the confusion’ created by his management, stressing that it was ‘never a prank’. “To Nigerians and my core followers, I will never play with people’s emotions like that. It was never a prank. I was sick, sick. I am really sorry for the confusion, the false alarm and everything. I take full responsibility.” His personal assistant also made an effort to douse the tension, claiming the rapper actually died for three days before he came back to life. Before his ‘death’, very little or nothing was known about Oladips.

thons," a cheeky dig at Nigerians' ridiculousness to want to water down the exercise. A previous tweet from the organization reminded Nigerians to first apply before attempting to set a record. The Guinness World Records honours people with exceptional feats across the globe and has been doing so since 1955. It is a British reference book published annually, listing world records both of human achievements and the extremes of the natural world. The brainchild of Sir Hugh Beaver, the book was co-founded by twin brothers Norris and Ross McWhirter in Fleet Street, London, in August 1955.

Kosoko

few celebrities were victims both hers and her neighbour's of fire outbreak that raged apartment. Her apartment and left nothing in its had to be forced open by kind wake. First, it was Ayodeji Makun, neighbours. But by the time the comedian, actor and movie firefighters arrived at the scene, producer, popularly known as AY. her home had been reduced to He lost his prized multimillionrubbles. naira home to a fire incident. The fire wreaked so much havoc that nothing was salvaged from it, even as the entertainer’s brothers battled to save a few valuables. Then Fuji singer, Adekunle Temitope, otherwise known as Small Doctor, fell victim to a fire incident. The fire consumed the singer’s properties worth millions of naira, reducing everything to ashes. The year ended with the home of Bidemi Kosoko, a Nollywood actress' home consumed by fire. The incident happened while she, her children, husband and domestic staff were at the residence of Jide Kosoko, her father and veteran actor. The fire gutted Adekunle

Davido's wild oats? later retract the statement, citing a hacked Instagram account as her defense. Subsequently, she provided evidence of her past relationship with Davido, including messages where the singer’s cousin allegedly requested her to terminate the pregnancy. Anita’s rollercoaster of accusations, repentance, and forgiveness left Nigerians on edge, anticipating further bombshells. Surely, Nigerians came for her on her claims, calling them bogus. However, Brown didn’t back down. To prove her innocence, she took a pregnancy test live on Instagram and then posted

screenshots of a conversation between Davido and her, and another with his cousin, Clarks Adeleke. When the backlash began, she defended herself by stating she did not know Davido was married to Chioma. Then there was a 22-year-old French woman named Ivanna Bay who also claimed to be pregnant for Davido. She also posted screenshots of her conversations with the singer, including one that showed him asking to meet her at a hotel in Paris. Both women have now fizzled out from the public's consciousness leaving Nigerians to wonder if it was all a publicity stunt.

Makun THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY The Very Dark Man

Celebrity Politicians

his year, the year of Nigeria's General Election saw quite a handful of celebrities deciding to stop being on the sidelines and get into the 'ring' with established politicians while using their celebrity status to appeal to the emotional sides of Nigerians for their votes. These are a few of them and how they fared so far. Nollywood actress and movie producer, Funke Akindele, decided to vie for a political office for the first time. As a member of the People’s Democratic Party (PDP), Funke contested as the deputy governorship candidate of the party. Unfortunately, she and her principal, Abdul-Azeez Olajide Adediran, aka Jandor, were defeated. Funke lost in her own polling unit to the ruling All Progressives Congress (APC). Youthful, funny, talented and fresh-faced Nollywood actor, Akindele Olumide Oworu declared

Otse

he year 2023 became a turning point for Martin Otse, a 27-year-old Nigerian widely recognised by his moniker, Very Dark Man. A controversial social media personality, Very Dark Man made a significant impact this year through his social media videos, engaging his audience in humorous discussions on everyday issues and bold critiques of celebrities. His content spans a wide range of trendy topics circulating on social media. He first came to limelight by taking headon, organic skincare brand, Jenny's Glow, owned by Jennifer Igbinovia. He had a running battle with Jennifer who he accused of selling products not registered with the National Food Drug Administration and control, NAFDAC to gullible Nigerians. He alleged that she used a fake NAFDAC registration number to sell her products. This prompted NAFDAC to wade into the matter and got her Abuja office sealed. Very Dark Man was forced to take on Jennifer after the beauty

entrepreneur had an altercation with one of her clients who called her out on social media for allegedly selling fake products which damaged her skin. Amaka was then whisked away by policemen from her parent’s house for calling out the entrepreneur. More users of Jenny's Glow products also called out Jennifer, following the unfortunate arrest of Amaka, for selling fake products to them. From calling out Jennifer to his controversial analyses of the death of singer Ilerioluwa Aloba, aka MohBad and who he believes was responsible for the singer’s death, to dabbling into the illness of comic actor, John Okafor aka Mr Ibu, Very Dark Man delved into all things controversial. Surprisingly, his confession that he once sold his nude pictures for money did not diminish his social media presence, this controversy surprisingly contributed to a doubling of his fame.

Seun Kuti's Not-so-Reflex Action

Kuti

eun Kuti, the youngest son of the legendary Afrobeat legend, late Fela Anikulapo Kuti, was caught on camera slapping a police officer on Third Mainland Bridge in Lagos. Seun claimed that the policeman tried to kill him and his family. He asserted that he had a child in the backseat of the car and that the policeman was reckless, thus endangering their lives. However, in the videos that made the rounds on social media, no child was seen in the back seat of the car. Kuti was arrested and handcuffed. He was arraigned in court for assaulting a law enforcement officer and later detained at the State Criminal Investigation and Intelligence Department, popularly known as Panti, in Lagos. The singer was later granted bail, but he was not released until May 23, 2023. The case is still pending in court.

Mr Ibu’s Health And Family Circus

John Okafor and wife, Stella Maris THEWILLNIGERIA

eteran comic actor, John Okafor, aka Mr Ibu, was in the news in the latter part of the year after he cried out to Nigerians for financial assistance and prayers over his deteriorating health. He had cried out that one of his legs would be amputated if he did not get help on time. His emotional appeal touched many, as several people contributed money towards his treatment with the non-governmental organisation of former Senate President, Bukola Saraki, shouldering his medical bill. Unfortunately, one of Ibu’s legs was eventually amputated to save his life. But, his family members got mired in controversy for fighting over how the money that had been donated should be spent. His

THEWILLNG

adopted daughter, Jasmine, claimed that the actor’s wife, Stella Maris, wanted to use the money to buy a new car, an Iphone and undergo cosmetic surgery. However, Stella Maris, maintained that she was only calling for transparency over the way the money was managed. She claimed that Jasmine planned to elope with one of Mr Ibu's sons, who is Jasmine's lover, with the money. In the course of the controversy, it was alleged that Mr Ibu had sexual relations with Jasmine. In another instance, Stella Maris claimed that the Actors Guild of Nigeria, AGN, neglected her husband in his time of need, an allegation she would later debunk claiming she was blackmailed to lie against the association. Okafor

THEWILLNIGERIA

his interest to contest for a political position, the Lagos State House of Assembly seat in Surulere Constituency 1 on the platform of the Labour Party. Unfortunately, on the day of the election, he was not on the ballot. Instead, a certain Bode Adebayo was on the ballot. Olumide blamed the Independent National Electoral Commission (INEC) for failing to obey a court order issued directing the commission to open its website for the Labour Party to Danjuma submit the names of its candidates or accept the manual submission. He added that INEC failed to upload the names on the list sent by the Labour Party in October 2022. Tonto Dikeh surprised a lot of people when she indicated her interest to contest as Deputy Governor of Rivers State on the platform of the African Democratic Congress (ADC). The Nollywood actress whose participation in the 2023 election brought a lot of enthusiasm and fun into the race, later dashed the hopes of her fans after she and her principal, Tonte Ibraye, announced that they were stepping down for the candidate of the APC in Rivers state, Tonye Cole. Singer Bankole Wellington, aka Banky W, is no green horn when it comes to politics. He is a member of the Peoples Democratic Party (PDP) and he contested for a seat at the House of Representatives to represent Eti Osa Local Government Area. He lost. Caroline Danjuma is another Nollywood actress who contested in the last general election. Like her other two female Dokubo colleagues, Caroline vied to be the next Deputy Governor of Akwa Ibom State. However, her dream didn’t come true as she and her principal, Iboro Otu, who contested on the African Action Congress (AAC) platform, came a distant sixth to Umo Eno of the Peoples Democratic Party who won the governorship election in Akwa Ibom. Veteran Nollywood actor, Femi Branch, was the deputy governorship candidate alongside his principal, Tofunmi Ogunronbi, under the National Rescue Movement (NRM). Femi Branch’s party came a distant 12th in the Ogun State governorship election. Desmond Elliot, already a household name when it comes to acting in Nigeria, contested for a seat in the Lagos State House of Assembly, representing Surulere Constituency 1, on the platform of the All Progressives Congress (APC). The actor cum politician won his bid to return to the house for a third tenure, in an election that was keenly contested. It was not an easy ride for Desmond, as his supposed sins against the youths, from the past, threatened to ruin his return bid. Although Nollywood actress, Hilda Dokubo didn't contest for any elective position, the former special adviser on youth affairs to Peter Odili, a former governor of Rivers State, was appointed as Chairman of Labour Party in the state. Dikeh

PAGE 43

FEATURES

2023: A Retrospective Permit THEWILL to borrow a phrase used to describe works of artists during exhibitions to evaluate the year 2023 as we saw it. In the main, retrospectives display the entire oeuvre of a painter’s, sculptor’s works – mostly in chronological progression and all of them at one show. Considering 2023 in that sense for Nigeria, there were good and awful shows, some surreal, some totally unexpected. For instance, the tax reforms begun by President Muhammadu Buhari and reinforced by his successor Bola Ahmed Tinubu is one positive aspect. Overall, most Nigerians expectations for 2023 were largely unmet, especially economically and politically. Michael Jimoh reports…

ever again was how one wag put it in a recent WhatsApp post. It quickly elicited similar responses to his summary of the year 2023. The last time Nigerians reached a consensus on that phrase was during the military dictatorships of the ‘90s. Never again, they chorused then about an uncaring military class looking out for themselves and their cronies. Nearly a quarter century after the military’s departure from government, it is as though nothing changed. If anything, the cost of living got progressively worse. Inflation is at a record 28.20 percent; Unemployment is rising at a geometric rate – 33.3 percent. The ugly reality is that out of 70 million Nigerians that should be working, 23.2million of them are jobless. From economic indicators, the trend might not change anytime soon. It has not helped that all of that happened in a civilian democracy run by politicians who promised everything imaginable once elected.

“

The absurdities continued on and on, leaving millions of Nigerians in desperation over a currency redesign and swap they couldn’t comprehend. Those behind the redesign were equally baffled, throwing up their hands in frustration. If you were up in space watching the country from above, you would have seen another queue forming simultaneously with the serpentine lines in banks: at filling stations. Not for the first, second or third time, a country reputed to be one of the largest producers of crude oil could not fill the average-sized tank of a beetle car let alone tank up a diesel generator in a countryside factory. So, the never-ending lines formed – in the FCT and most state capitals and out of the way towns and villages – in the day time and nights with sleepovers becoming commonplace. Thus did the situation remain for much of January and afterwards. With the general elections coming ever so close early in February, Nigerians only wish was to see the back of the Buhari Administration. After eight years in power from 2015, there was nothing much to reckon with his government despite the popular support he enjoyed initially. Beside the tax reforms Buhari initiated as president, his years in office seemed a waste of time to many Nigerians. But the elections promised a new dawn. The major gladiators were old war horses, hard-fighting Atiku Abubakar of the Peoples’ Democratic Party, equally combative Bola Ahmed Tinubu of the All Progressives Congress and by no means a walkover Peter Obi of the Labour Party. They all promised something new, not only to their supporters but to Nigerians in general. The LP candidate was something of a discovery to Nigerians of a certain generation – young people who saw in his candidature a third force to counter the expiring and thieving politicians in PDP and APC. The “Obidient" movement garnered force and numbers all around with just the big hope of Obi making it to Aso Villa.

Some Nigerians always knew better. Sneering cynics scoffed that things were not going to get any better for the lot of Nigerians in 2023 judging by the events of late 2022. Ostensibly hoping to right a floundering economy, the soon-todepart Buhari Administration came up with a wonky policy to redesign Nigeria’s currency – the Naira. It boomeranged,

Sneering cynics scoffed that things were not going to get any better for the lot of Nigerians in 2023 judging by the events of late 2022

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

sending the country out of kilter into unimagined economic distress: both the old and new notes were scarce; long queues formed in banking halls and extended in serpentine trails outside; small and medium scale entrepreneurs packed up; men and women in their dotage collapsed after waiting for hours to withdraw unavailable cash: epic fights broke out among bank customers who slugged it out in frustration; two or so pregnant women due in their term squatted and gave birth right there in bank premises; a man went in the buff to register his displeasure.

The elections held amid an economy in tailspin and general discontent with the party in power. Money was still scarce. There was plenty of hate speech and the frightening spectre of electoral violence during the campaigns. No one gave APC much chances of success at the polls. The presidential candidate Tinubu himself became the butt of scabrous putdowns, most serially abused politician in recent Nigerian electoral history. He was infirm and senile, they charged, sometimes delighting his enemies by forgetting lines or mixing up whole sentences in public speeches and appearances. Against all permutations by pundits, he won hands down, defeating his closest opponent by more than 2million votes. Almost as quickly as the results were announced, the opposition parties complained of electoral irregularities and violence perpetrated in support of the victorious APC candidate. The only recourse? The courts. So, it transpired that the executive arm of government now needed validation from the judiciary. By the time judgment came months later in favour of the THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

FEATURES

...A Retrospective elected president, the judiciary had given a new meaning to the commonly used term “the law is an ass.”

heartbreak was rescued in good time. There were heartbreaks of other sorts in 2023, especially politically. One of the most notable was PBAT’s appointment of a nonMuslim Christian southerner as Minister of the FCT in the person of Nyesom Wike. The appointment promptly riled Islamic cleric Dr. Sheik Ahmad Gumi who felt that his kith and kin’s God-given right to occupy certain positions in government had been unduly tampered with by Tinubu. Unable to contain his private grief, he vented his anger in a diatribe-filled video against Wike in a mosque.

From the day of swearing in, President Tinubu did what his predecessors dared not. He removed the fuel subsidy thus provoking the labour unions (NLC and TUC) into a protracted face-off, leaving ordinary Nigerians the worse for it in the process. The Federal Government’s intransigent position on the fuel subsidy removal was something of a double standard, given that Mr. President himself had vehemently opposed its removal in 2012 when Goodluck Jonathan as president expressed his desire to do so. What suddenly happened between then and now, critics wondered aloud. Tinubu’s defence was the massive financial haemorrhage on the nation’s purse by a group of unnamed fuel subsidy cabal. The removal, he made his case severally, is for the good of the common people. Some thoroughgoing skeptics doubted his sincerity since he refused to name the cabal behind the fuel subsidy scam. If his removal of the fuel subsidy was for the wellbeing of Nigerians, the reasoning went, he was clearly not against those involved in the scam that has gone on for far too long because he refused to name them. The subsequent NLC, TUC/ Federal Government face-off dragged for months, almost plunging the country into economic paralysis. As a result, Tinubu’s government has since put in place some palliative measures to cushion the effect of the fuel subsidy removal. Minimum wage has been pegged at N30, 000 by the Federal Government; there have been other similar incentives – student loans and financial assistance to small scale businesses. As recently as last Christmas and New Year, the Federal Government made arrangement to pay half the cost of transportation for many Nigerian hoping to reunite with kith and kin in their respective communities across Nigeria. In the intervening period between January and now, there were routine kidnappings and terror strikes almost everywhere: a remote community in the Middle Belt, for instance; cult related atrocities in the South-south; ritual beheadings in the South-west; cattle rustling in the Northcentral or taking a village head and his immediate family hostage in the North-west and North-east. Reports in the Metro sections of national dailies confirmed most Nigerians worst fears about the surge in crime both by career criminals and opportunistic bandits. The inference is a general lack of security for Nigerians, making it seem like Tinubu’s Administration was not any better than the one it succeeded. Either because of the unbearable economic situation and or overwhelming psychological pressures, some Nigerians began to jump off bridges into the lagoon. In one benumbing instance recorded on video, a sixty-something THEWILLNIGERIA

THEWILLNG

“

President Tinubu did what his predecessors dared not. He removed the fuel subsidy thus provoking the labour unions (NLC and TUC) into a protracted faceoff, leaving ordinary Nigerians the worse for it in the process

year old man hugged the iron railings of the Third Mainland Bridge in Lagos with the placid waters of the lagoon down below. From the tarmac where some agitated crowd begged him to come on up, they cajoled him, shamed him only for the distraught man to let himself go straight down like a bungee jumper without the restraining lasso. Two or so death wish candidates have ended up in the roiling waters of the sea while a female intent on killing herself because of

THEWILLNIGERIA

Wike himself also suffered from what was clearly a political heartbreak. His handpicked man in Rivers state his political base had turned against him or so it seemed. One day last November Nigerians woke up to see the unseemly spectacle of Governor Siminialayi Fubara sacked from Government House in Port Harcourt and senior police officers taking shots at him and teargasing HE. Of course, there was nothing new in sitting governors facing opposition and threat of impeachment by House of Assembly members in their home state. Ask Chris Ngige and Obi of Anambra state who have stories to tell in that regard. But Siminialayi’s experience with the police and political thugs in Port Harocurt was sobering and in a class of its own in savagery and total disrespect for constituted authority. The man behind all that days of upheaval in Port Harcourt was none other than Wike himself, looking to securing a foothold in his political base which he feared was eroding bit by painful bit under his feet. While there seems to be a semblance of normalcy in a political romance gone sour between Governor Godwin Obaseki and his deputy Philip Shaibu in Edo state, a similar struggle for supremacy only came to a dismal end in neighbouring Ondo state with the unfortunate demise of Governor Oluwarotimi Akeredolu and Lucky Aiyedatiwa his deputy. For months since Akeredolu proceeded on a medical leave in June, there has been no love lost between the erstwhile political bedmates. As the crisis degenerated between godfather and godson in Akure, Aiyedatiwa was all but impeached by majority of members of Ondo State House of Assembly. Even a presidential intervention by Tinubu did not seem enough in the worsening crisis of succession in the Sunshine State. But then, death came as a final arbiter when Akeredolu died on 27 Wednesday 2023. Hope is the worst of all evils, Nietzsche once mused, because it prolongs the torments of man. The understanding is that if you have to hope for something for too long, the inexorable period of torment corresponds with the time spent waiting for that thing to happen. Except to the few cynics among them, Nigerians seem to have hoped for too much from politicians who have offered too little correspondingly. So, back to Verdict 2023: Never again. PAGE 45

SPORTSLIVE

NEW YEAR EDITION 2024 WWW.THEWILLNEWS.COM

Doping: Dark Side of Nigerian Sports in 2023 BY JUDE OBAFEMI

t was a year of disappointment and disgrace for some Nigerian sportsmen and women in 2023. Instead of highlighting their brilliance and talents in various international competitions the way Oluwatobiloba Amusan, Victor Osimhen, Asisat Oshaola, Chiamaka Nnadozie, Favour Ofili, and others did, a handful of Nigerian athletes were caught in doping scandals that tarnished the country's image and pride. Some of the most renowned and successful Nigerian athletes, such as Blessing Okagbare, Divine Oduduru and Grace Nwokocha were involved in doping scandals and they faced harsh penalties from the authorities. These scandals not only ended the careers and legacies of the individual athletes, but also impaired the collective performance and spirit of the nation as a whole.

“

Enoh

SportsLive reviews the drug issues that stained Nigeria's accomplishments in sports in 2023 and suggests that the government does more to prevent a repeat in 2024

As Nigeria wraps up sports this year, SportsLive reviews the drug issues that stained Nigeria's accomplishments in sports in 2023 and suggests that the government does more to prevent a repeat in 2024. One of the main actors behind the doping scandals that rocked Nigerian sports in 2023 was Eric Lira, a therapist who supplied performance-enhancing drugs to Nigerian athletes. Lira, who was based in Texas, USA, had been working with several Nigerian athletes since 2019, providing them with various treatments

and supplements. Some of the supplements contained prohibited substances, such as human growth hormone (HGH) and erythropoietin (EPO) which enhanced their performance and endurance. Lira was exposed by the US authorities in July 2023, after they raided his clinic and found evidence of his illegal activities. Lira was arrested and charged with violating the Rodchenkov Anti-Doping Act, a new US law that criminalises doping conspiracies in international sports. Lira's arrest triggered a series of investigations and revelations that implicated some Nigerian athletes who had been associated with him. One of the most prominent and decorated Nigerian athletes who was involved in the doping scandal was Okagbare, the Olympic and World Championships medallist in the long jump, the world medalist in the 200 metres and the women's 100 metres Commonwealth Games record holder at 10.85 seconds. She was banned for 11 years for doping and refusing to cooperate with the investigation. It all went downhill for Okagbare after she was suspended during the Tokyo Olympics, just before the women's 100m semi-finals, after testing positive for human growth hormone (HGH) in an out-of-competition test in Slovakia. For the investigations, Okagbare's phone was seized by the U.S. authorities when she returned to the United States, and it revealed that she had been in contact with Lira, who had supplied her with various prohibited substances, such as HGH, EPO, and synthetic insulin growth factor. Okagbare also solicited prohibited substances on behalf of Oduduru, who was her team-mate and training partner. Okagbare's ban effectively ended her career and legacy, as well as her relationship with Oduduru. Oduduru’s involvement was unfortunate as he had shown potential that made analysts see him as the next big track THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA

NEW YEAR EDITION 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

SPORTSLIVE

...Dark Side of Nigerian Sports in 2023 Oduduru's phone and apartment were searched by the U.S. authorities, and they revealed that he had been in possession of multiple prohibited substances, such as human growth hormone (HGH), erythropoietin (EPO), and synthetic insulin growth factor. Oduduru maintained his innocence throughout the investigation, but the AIU rejected his defence and imposed a six-year ban on him, effectively ending his career and aspirations. The next scandal involved Nwokocha who tested positive for prohibited substances at the Commonwealth Games and caused Nigeria to lose the gold medal in the women's 4x100m relay. Nwokocha was found to have traces of ostarine and ligandrol, two anabolic agents, in a sample collected in August last year. Ostarine and ligandrol are banned by the World AntiDoping Agency (WADA) for their performanceenhancing effects, such as increasing strength and muscle mass.

a n d field star to emerge from Nigeria. However, the 2014 World Junior silver medallist in the 200m and the national record holder in the same event, was banned for six years for doping and attempted use of a prohibited substance or method. He was suspended during the World Championships, after the AIU found "overwhelming evidence" against him. Oduduru's case was linked to that of Okagbare, who had solicited prohibited substances on his behalf from Lira.

Nwokocha, unlike Okagbare and Oduduru, admitted to the doping violation and accepted a three-year ban from the Athletics Integrity Unit (AIU). Her ban also resulted in the disqualification of her teammates Joy UdoGabriel, Ofili, and Rosemary Chukwuma, the all-female team that had won the gold medal in the 4x100m relay at the Commonwealth Games, tarnishing

Continued from Back Page

With The Rough Year Gone, 2024 Beckons With Hope, Promises And Reasons to Smile For Nigerians

and investment needed to spur growth. Yet, while infrastructure crumbled and extremism surged, evidence shows that government expenditures remain centred on extravagance for public sector elites. Budgets allocate copious resources for officials’ generous salaries and benefits at the expense of the poverty-ravaged citizens. Such lavish government spending on itself as economic conditions deteriorated has helped to fuel public dissatisfaction. It underscored perceptions that the political class remained indifferent to everyday Nigerians’ financial struggles. Combined with the flawed elections earlier in 2023, government’s self-indulgence opened space for opposition groups to paint the regime as illegitimate and self-interested rather than earnestly pursuing citizens’ welfare. I want to however urge the Tinubu-led Federal Government and the 36 states to be more compassionate and sensitive to the pains and frustrations of the average Nigerian who still struggles to eat a meal a day. Nevertheless, 2023 highlighted that Nigeria retained significant cultural influence across Africa and globally. In sports, the country boasted standout individual performers like Victor Osimhen, named African Player of the Year, the first since the 1990 Kanu Nwankwo win, and female soccer phenomenon, Asisat Oshoala, who cemented her dominance of the women's category with a record-extending sixth win. Likewise, Nigerian music stars Davido, Burna Boy, Rema, WizKid and Tems topped global charts and sold out concerts across the world. Their dizzying success built upon Nigerian pop culture exports like Afrobeats and movies from “Nollywood,” Nigeria's $6.4 billion film industry. Fashion also thrived in 2023, as designers combined local textile traditions with contemporary trends to acclaim in Europe and America.

THEWILLNIGERIA

THEWILLNG

As 2023 goes into history, Nigeria showed both vulnerabilities and strengths. Security risks, economic turmoil, infrastructure gaps and allegations of regime illegitimacy posed formidable challenges. Yet, sectors like sports, music and film highlighted the dynamism and creativity that positioned Nigeria as a pivotal African country. Gladly, we got some good news with the completion of the overhaul/repairs of one of the two petroleum refineries in Port Harcourt, as well as the completion of the Dangote Petroleum refinery in Lagos, which I must mention, succeeded because of the resilience and backing of the Central Bank of Nigeria under its former Governor, Mr. Godwin Emefiele. These two facilities, when fully operational in the New Year alongside the Warri refinery, will cut the importation of petroleum products and return the economy to growth. This means that we will see a more stable currency and probably a moderate recovery for the naira in 2024, contrary to the projections of the West. I will reiterate that realising Nigeria's potential and getting onto a sustainable, equitable growth path depends on the government implementing substantial reforms focused wholly on citizens' welfare. Tackling corruption, spurring job growth, expanding social safety nets for the poor and rebuilding decrepit infrastructure must top the regime’s priorities in 2024 and beyond, if Nigeria is to overcome its current tribulations. Whether Nigeria sinks further into crisis or emerges renewed from the tumultuous events of 2023 remains to be determined. But this critical year underscored that even amid immense troubles, Nigerians have not lost their creativity, resilience or hope for a more just and prosperous future ahead. May God keep us healthy and help us achieve all our plans and resolutions in the New Year through Jesus Christ our lord, we pray, Amen.

THEWILLNIGERIA

Nigeria's achievement in the event. In all of these, there was one positive outcome in the doping scandals that rocked Nigerian sports this year, in the case of Amusan. The Nigerian hurdler and former World Record holder faced a whereabouts violation charge from the Athletics Integrity Unit (AIU) that almost prevented her from competing to defend her world record in the female hurdles event. Amusan, who had broken the world record in the event with a time of 12.12 seconds at the 2022 World Championships, was provisionally suspended by the AIU in July 2023, after she missed three anti-doping tests in a 12-month period. Amusan claimed that she was innocent and that she had valid reasons for missing the tests, such as travel delays, illness, and miscommunication. She appealed her suspension to the Court of Arbitration for Sport (CAS), which cleared her of the charge by a majority decision in August 2023 on the eve of her event. Amusan was allowed to compete at the World Championships, where she was unsuccessful in defending her world record. Yet, Amusan's case was one of the few positive outcomes for Nigerian athletics in 2023, as she managed to clear her name and avoid a ban. The doping scandals that rocked Nigerian sports in 2023 highlight the need to put more effort in a drug-free sports culture in Nigeria as we head into 2024. The doping cases not only harmed the individual athletes and the nation, but also the future generations of Nigerian sportsmen and sportswomen, who may lose their opportunities and incentives to pursue their dreams and passions due to a jaundiced and stereotypical view of Nigerian sportsmen and women as perennial cheats. The doping cases also undermined the values and principles of sports, such as fair play, respect, and excellence, which are essential for the development and well-being of the society. Therefore, it is imperative that the Nigerian authorities and the sports community work together to create a drug-free sports environment, where the athletes can compete with integrity and dignity, and where the fans can enjoy and celebrate their achievements. A drug-free sports culture in Nigeria would not only benefit the country's image, pride, and development, but also the global sports community, which would welcome and appreciate Nigeria's contributions and talents. Nigeria can do this by introducing several initiatives such as: Enhancing the anti-doping education and awareness among the athletes, coaches, and officials, such as workshops, seminars, and campaigns; increasing the frequency and quality of the anti-doping tests and controls, and cooperating with the international bodies, such as the World Anti-Doping Agency (WADA) and the Athletics Integrity Unit (AIU), to ensure compliance and transparency; creating a values-based education (VBE) program that considers the different value-priorities of the athletes across countries and promotes the values and principles of sports, such as fair play, respect, and excellence. Furthermore, by providing support and guidance to the athletes to help them cope with the pressures and challenges of sports, and preventing them from resorting to doping as a shortcut or a solution, by encouraging and rewarding the athletes who compete fairly and honourably, and who represent the country with pride and excellence, the government can create a drug-free sports environment where performance is naturally enhanced rather than artificially boosted and Nigeria is recognised for clean competition.

PAGE 47

www.thewillnews.com

NEW YEAR EDITION 2024

With The Rough Year Gone, 2024 Beckons With Hope, Promises And Reasons to Smile For Nigerians T

he year 2023 was undoubtedly a significant and difficult one for the county and of course, myself due to the passing on of my mother, Ezinne Roseline Obiajulu Oganah, on February 20, after a brief illness.. I also lost a very dear friend, Abdul Imoyo, 52, the quintessential head of media relations at Access Corporation, whose shocking and untimely demise occurred on December 17, following a short illness. May their souls and the souls of all our departed friends and relatives continue to rest in peace. Amen. The year was bookended by a general election which ushered in a new government, the country grappled with economic instability, infrastructure deficiencies and worsening insecurity. Yet Nigeria also witnessed bright spots, from outstanding athletic accomplishments to Afrobeats and Nollywood's burgeoning worldwide popularity. As 2023 drew to a close, Nigeria stood at a crossroads between lingering crises and potential renewal. On February 25, Nigerians voted in an election with profound implications for the nation's trajectory for the next four years, at the very least. Over 18 candidates vied for the presidency, although the main contest centred around the ruling All Progressives Congress (APC) candidate, Bola Ahmed Tinubu, Peter Obi of the Labour Party and former Vice President, Atiku Abubakar. Tinubu ultimately prevailed amid accusations that the Independent National Electoral Commission (INEC) enabled manipulation, vote-buying and voter intimidation. Unfortunately, INEC failed to keep to its promise of delivering an election that Nigerians could be proud of. This failure was a massive disappointment and it coloured the post-election period of appeals to the point where it seemed the courts, instead of the people, were deciding electoral outcomes. In the presidential election, the opposition rejected the outcome due to alleged irregularities and the appeals went all the way to the Supreme Court, which ruled in favour of Tinubu. Before then, Tinubu assumed the presidency on May 29 regardless, marking the culmination of an election rife with controversies that undermined perceptions of its legitimacy both domestically and internationally. The new administration was immediately faced with a behemoth of issues that bedevil the country. Indeed, even before the elections, Nigeria faced severe economic challenges. The GDP continued to contract with tell-tale signs of a recession no one wanted, while population growth continued to outpace development indices, meaning a decline in per capita GDP. Both the contraction and negative per capita growth underscored how economic mismanagement had

stunted Nigerians’ living standards over time. Unemployment and underemployment rates also reached alarming levels in 2023. Currency devaluation also hammered the purchasing power of many households in the country. The naira lost almost 50 per cent of its value against the dollar within the year, exchanging for over N1,200 to $1. In conjunction with a declining economy in 2023, Nigeria also struggled with crumbling infrastructure that impeded transportation and commerce. Poor federal road conditions made transporting goods and services, including the extremely necessary agricultural produce, arduous. Decrepit government infrastructure, in health, education, businesses, across the country highlighted severe public sector limitations. Although power generation increased during the year, distribution bottlenecks caused by ageing transmission lines resulted in blackouts up to 20 hours per day as

reports of the collapse of the national grid became commonplace. Inadequate infrastructure coincided with surging instability, especially in the northern regions. Data showed that deaths from extremist groups continued unabated in 2023. Armed gangs terrorised rural communities and launched mass kidnappings along major highways across the South-West and SouthEast. The recent attacks in Plateau State only serve to exacerbate this worrying status quo. These are issues that no responsible government can allow to fester any longer. Another issue that marked the final laps of the year 2023 berthed at the nation’s oil company, the Nigerian National Petroleum Corporation's (NNPC). The company's lack of transparency emerged as a critical issue impacting Nigeria's progress. The absence of clear visibility into NNPC's operations has resulted in revenue losses, fueled corruption and hindered effective resource management. The opacity within NNPC has perpetuated mismanagement and made it impossible to track crude oil receipts. This lack of transparency has also adversely affected investor confidence in Nigeria's oil and gas sector. Without clear and accessible information, potential investors are hesitant to commit resources, slowing down sector growth. Conversely, embracing transparency in NNPC's operations holds the promise of enhanced governance, increased revenue generation and improved investor confidence. Transparent governance practices foster accountability, prevent corruption and facilitate more effective resource management, leading to better decision-making processes and productivity. Moreover, increased transparency attracts investors by providing reliable information, thus fostering greater investor confidence. This confidence not only invites more investments but also brings in technology transfer and expertise, further contributing to the growth and development of Nigeria's oil and gas sector. Indeed, I have consistently held that the government must divest its majority holding in the company and let the private sector drive NNPC to the levels of profitability that it has the potential to achieve. To address these challenges therefore, and foster progress, prioritising transparency within NNPC's operations is pivotal for Nigeria's economic and developmental prospects in 2024 coupled with private majority holding. This applies to not just NNPC but across entities that are state-owned and designed to make profit. Government has no business retaining a majority state in these entities. As 2023 ends, Nigeria’s infrastructure gaps and insecurity pose immense complications for economic activity Continues on Page 47

THEWILLNIGERIA

THEWILLNG

THEWILLNIGERIA