Wednesday 4th May 2016 by THISDAY Newspapers Ltd

UBA Looks to Africa for Growth To extend operations to 25 countries

Chika Amanze-Nwachuku

announced plans to extend its banking operations to 25 countries on the continent. Currently, UBA subsidiaries

In furtherance of its strategic vision to grow its revenue and franchise across the African continent, the United Bank for Africa (UBA) Group has

operate in 18 African countries, which at the end of the first quarter of 2016, contributed up to 28 per

cent of the group’s operating revenue. UBA Group Chairman, Mr. Tony Elumelu, disclosed this

yesterday in an interactive session with journalists. The group recently held its inaugural Senior Leadership

Crisis Hits Edo Assembly as Speaker, Deputy Impeached… Page 10

Forum to review the impressive growth that the bank’s African network had made over the past 11 years, as well to provide a platform Continued on page 8

Wednesday 4 May, 2016 Vol 21. No 7678. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

N’Assembly, Presidency Reach Compromise on Budget Details Omololu Ogunmade in Abuja After weeks of wrangling over the 2016 Appropriation Bill, the National Assembly and the presidency finally reached a compromise on the finer details of the budget, which will be submitted this morning to

President Muhammadu Buhari so that he can give his assent to the bill today or tomorrow, THISDAY has learnt. Confirming the détente, sources in the legislature and presidency said the Continued on page 9

CBN Quizzes Fidelity Bank Officials over $115m Lodgement Obinna Chima Officials of the Central Bank of Nigeria (CBN) yesterday stormed the Kofo Abayomi Street, Victoria Island head office of Fidelity Bank Plc as part of investigations into the alleged $115 million cash lodgements it received from the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

A central bank official, who confirmed this to THISDAY yesterday, said the visit was to compare transaction documents and to find out if the cash lodgement was duly reported in line with the Money Laundering (Prohibition) Act as claimed by the bank. Continued on page 8

Kidnapped Senator Anisulowo Regains Freedom… Page 10

GTB FEEDS LAGOS

Managing Director/CEO, Guaranty Trust Bank (GTBank) Plc, Mr. Segun Agbaje; his wife, Derin; and Managing Director, InVivo partners Ltd., Ms. Ngozie Edozien, at the Food and Drink Fair held by GTBank during the May Day holiday, in Lagos. The two-day Food and Drink Fair, the first to be organised by the bank, was attended by thousands of Lagosians who trooped out to eat and drink the culinary delights offered by some of Nigeria’s best chefs, cafes, bakeries and restaurants kunle ogunfuyi

WEDNESDAY MAY 4, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 4, 2016

WEDNESDAY MAY 4, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 4, 2016

WEDNESDAY MAY 4, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 4, 2016

WEDNESDAY mAY 4, 2016 • T H I S D AY

PAGE EIGHT

IMF: Policy Reset Urgently Needed in Nigeria, Others to Secure Growth Obinna Chima In order for Nigeria and other economies in Africa to harness their strong potential, the International Monetary Fund (IMF) has stressed the “critical need” for a substantial policy reset by policy makers in the countries, adding that their response to date has generally been insufficient. The IMF stated this in its latest Regional Economic Outlook for sub-Saharan Africa released yesterday. The report showed that growth fell to three and a half per cent in 2015 in sub-Saharan Africa, the lowest level in 15 years, and growth this year was expected to slow further to three per cent, well below the six per cent average over the last decade, and barely above population growth.

According to the multilateral donor institution, in commodity exporting countries such as Nigeria, where fiscal and foreign reserves are depleting rapidly and financing is constrained, the response to the shock needs to be prompt and robust to prevent a disorderly adjustment. In addition, it advised countries outside monetary unions to use exchange rate flexibility, as part of a wider macroeconomic policy package, to absorb the shock. “As revenue from the extractive sector is likely durably reduced, many affected countries also critically need to contain fiscal deficits and build a sustainable tax base from the rest of the economy. “Given the substantially tighter external financing environment, market access,

countries with elevated fiscal and current account deficits will also need to recalibrate their fiscal policies to rebuild scarce buffers and mitigate vulnerabilities if external conditions worsen further. “The required measures may come at the cost of lower growth in the short-term. However, they will prevent what could otherwise be a significantly more costly disorderly adjustment. “These policies would lay the ground work needed for the region to reap the substantial economic potential which still lies ahead,” it advised. In two background studies, the Regional Economic Outlook also examined the current commodity terms-of-trade shock and policy responses against past downswings, and

the economic impact of progress made in financial development. “The region has made strides in broadening access to financial services through the use of mobile technology, and the expansion of homegrown pan-African banks,” the report said. It noted that after a prolonged period of strong economic growth, subSaharan Africa was set to experience a second difficult year as the region is hit by multiple shocks. The steep decline in commodity prices and tighter financing conditions, the IMF said, had put many large economies under severe strain, just as it called for a stronger policy response to counter the effect of these shocks and secure the region’s growth potential. “The commodity price

slump has hit many of the largest sub-Saharan African economies hard. While oil prices have recovered somewhat compared to the beginning of the year, they are still more than 60 per cent below 2013 peak levels— which is a shock of unprecedented magnitude. “As a result, oil exporters such as Nigeria, Angola, and five of the six countries within the Central African Economic and Monetary Community continue to face particularly difficult economic conditions. “The decline in commodity prices has also hurt nonenergy commodity exporters, such as Ghana, South Africa, and Zambia. “Compounding this shock, external financing conditions for most of the region’s frontier markets have tightened substantially

compared to the period until mid-2014 when they enjoyed wide access to global capital markets. “However, the impact of these shocks varies significantly across the region and many countries continue to register robust growth, including in per capita terms. While the immediate outlook for many sub-Saharan African countries remains difficult, the region’s medium-term growth prospects are still favourable. “The underlying domestic drivers of growth at play over the last decade generally continue to be in place. In particular, the region’s much improved business environment and favourable demographics should help bolster growth in the medium term,” the IMF said in the report.

25 countries in the near to medium-term, starting from the UMOA and CEMAC zones.” On her part, Chairman of UBA Democratic Republic of Congo, Mrs. Gisele Mudiay said: “Our aspiration for the next five years is to pool the knowledge of our individual operating environments and leverage that knowledge to help our customers realise their business goals.” The Chairman of UBA Cameroon, Mr. Ekoto Mukete did not leave out the difficulties that exist in operating in the diverse economic environments across the African continent. He said: “While we operate in challenging business environments, we benchmark ourselves against global standards, which means we are able to add real value to our stakeholders. “This forum has ensured that we are an army of one, working in each corner of Africa and driving toward one common goal.” The approval of additional injection of capital into its East African subsidiaries in Uganda, Kenya and Tanzania was communicated at the forum, as the group re-affirmed its commitment to growth in its countries of operations across the continent. Commenting on the importance of consolidating pan-African financial expertise and exporting the successful Nigerian model, the incoming Group MD/ CEO and previous head of UBA Africa, Kennedy Uzoka said: “I have experienced the potential of our pan-African businesses. I know that we can and I commit to ensuring our leadership across Africa.

“The Senior Leadership Forum reaffirms UBA’s ambition to be the leading pan-African bank across key indices – brand equity, human capital, customer service and profitability.” Other issues discussed at the forum included Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and compliance standards across the group. The Group Compliance Officer, Uche Ike stated that “compliance is nonnegotiable. We operate as a global bank, in global centres. We have seen how swiftly, internationally and within Africa, banks have lost hard earned reputations, through laxity in policy compliance and we will not tolerate this in the UBA Group”. The forum coincided with the 54th Annual General Meeting of UBA, where participants were also able to celebrate the bank’s strong financial performance, just as the week-long activities culminated in the recognition of staff at the annual UBA CEO Awards ceremony. UBA reported strong financial results in 2015, in what is largely recognised as a challenging macro-environment. Gross earnings were N315 billion, while operating profit stood at almost N70 billion. UBA Africa operations contributed approximately 24 per cent of these earnings but are expected to grow significantly and over time contribute as much as 50 per cent to overall group profitability. Other than Africa, UBA has operations in three global financial centres: London, Paris and New York. From a single country operation in Nigeria,

Africa’s largest economy, UBA has evolved into a pan-African provider of banking and related

financial services, to more than 11 million customers through diverse channels globally.

UBA LOOKS TO AFRICA FOR GROWTH to reaffirm and embolden its strategic goals. The forum, timed to coincide with UBA’s annual general meeting and group board meeting, which was convened by Elumelu, brought together 90 participants, including the entire board of UBA, all chairmen and CEOs of UBA subsidiaries across Africa and the United Kingdom. In his opening remarks, Elumelu said: “We are one bank, the United Bank for Africa, bringing together our senior leadership talent from across the continent and the distinguished leaders who chair our subsidiary businesses are a powerful demonstration of our commitment to forge one bank for Africa.” He added: “As long-term investors and pioneers in pan-African commercial and investment banking, we are deeply committed to the markets in which we operate and to harnessing the potential represented by the wider African economy.” He restated the group’s goal to be the leader in Africa’s financial services sector, pointing to the group’s recent transaction track record as a testament of its coverage on the continent. Elumelu said the bank is increasingly recognised as a strong pan-African brand, hailed for democratising banking in its countries of operation whilst participating in landmark financial transactions. He listed the transactions to include the $1.2 billion oil financing agreement with the Nigerian National Petroleum Corporation (NNPC) and Chevron, for which UBA will provide funding for Chevron and NNPC to develop 36 new oil wells that will significantly expand

Nigeria’s oil production capacity. Other landmark transactions include a $315 million facility to the Government of Ghana for road projects on the strength of road fund levies domiciled with UBA Ghana; the $250 million crude pre-payment facility for the Democratic Republic of Congo-based Orion Oil, representing the largest reported transaction structured by an African investment bank in 2015 involving fresh capital within the African market; and the 234 million euro oil and gas financing deal with Société Africaine de Raffinage (SAR) of Senegal. Elumelu said the bank also released $180 million to Delta Energy Zambia for the procurement and supply of petroleum products to marketing companies in Zambia and the $90 million University of Dakar hostel construction project financed solely by UBA Senegal – African capital, building African infrastructure for African education. The three-day leadership forum focused on the critical issues and drivers for success across the continent. Seminars were held on corporate governance, corporate institutionalisation, board effectiveness, compliance, accountability, and more. Chairman of UBA Senegal, Mr. Fogan Sossah commented: “We have done a lot but in some sense we are only beginning to reap the rewards of our network and potential. We are a truly pan-African institution and after a period of consolidation, we know that the continuing expansion of our African footprint is a key goal. “We must ensure that we have presence in at least

CBN QUIZZES FIDELITY BANK OFFICIALS OVER $115M LODGEMENT “I can confirm to you that our officials were at Fidelity Bank’s head office today (Tuesday) to examine all the documents that have to do with the transaction,” the source said. Last week, the Economic and Financial Crimes Commission (EFCC) arrested the bank’s Managing Director/ Chief Executive Officer (MD/CEO), Mr. Nnamdi Okonkwo, for allegedly receiving $115 million from the former minister and disbursed the funds to politicians in the build-up to the 2015 presidential election that was lost by former President Goodluck Jonathan. EFCC has arrested several officials of the Independent National Electoral Commission (INEC) in Cross River, Osun, Oyo and Delta States who it alleged were bribed with the money deposited with Fidelity Bank to alter the outcome of the 2015 general election. But the bank, in a statement last Thursday, explained that the transaction was reported to the regulator and that it was cooperating with the EFCC in its investigations. Following the 30-day extension granted by a court on the warrant of Okonkwo’s arrest, Fidelity Bank on Monday announced the appointment of its Executive Director North, Alhaji Mohammed Lawal Balarabe, as its acting CEO. The appointment was announced after a board

meeting on Monday. A two-paragraph statement at the end of the meeting said Balarabe’s appointment, which took effect last night, was subject to regulatory approval even as the bank assured its stakeholders of continued seamless services. “In the absence of the Managing Director/ Chief Executive Officer, Mr. Nnamdi Okonkwo, the Board of Directors has appointed Alhaji Mohammed Lawal Balarabe, Executive Director North as acting Managing Director/ Chief Executive of Fidelity Bank Plc with immediate effect subject to regulatory approval,” it said. The bank assured its stakeholders, including over 400,000 shareholders and 3.4 million customers, of its continued seamless services.

TOP GAINERS NGN NGN NESTLE 64.06 678.00 ETERNA 0.23 2.53 TIGERBANDS 0.27 3.30 DANGCEMENT 8.17 171,57 NIGBREW 5.79 121.68 TOP LOSERS NGN NGN FORTEOIL 20.89 193.46 FIDELITYBANK 0.07 1.10 WEMABANK 0.04 0.76 FCMB 0.05 0.95 GSK 1.12 21.43 HPE Nestle Nig Plc ₦678.00 Volume: 220.115 million shares Value: N1.502 billion Deals: 3,474 As at 3/05/16 See details on Page 46

% 10.2 10.0 8.9 5.0 5.0 % 9.7 5.9 5.0 5.0 4.9

T H I S D AY • WEDNESDAY MAY 4, 2016

PAGE NINE

Appeal Court President to Set up Special Panel on Hijab Ban Davidson Iriekpen The President of the Court of Appeal, Justice Zainab Bulkachuwa, is set to establish a five-man panel of the court to hear the appeal against the ban of hijab (a veil worn by Muslim women) in public primary and secondary schools in Lagos State, THISDAY has learnt. The appeal, which was slated for hearing yesterday, could not proceed as Justice Amina Augie held that the matter was constitutional which required a full panel of the court to adjudicate on. Justice Modupe Onyeabor of an Ikeja High Court had on October 17, 2014, dismissed the suit instituted against the Lagos State Government by two girls, aged 12 at the time, under the aegis of the Muslim Students' Society of Nigeria (MSSN), Lagos State area unit. Dissatisfied, the appellants urged the Court of Appeal to set aside the judgment and protect their constitutional rights. When the matter came up yesterday, Justice Augie stated that the appeal bordered on the rights of the appellants to wear hijab to

school in line with Quranic injunction, but because it was a constitutional matter, it must be heard by a fiveman panel of the court. Justice Augie stated that because of the constitutional nature of the appeal and in the interest of justice, hearing of the appeal would be adjourned to enable the counsel to the appellants apply to the President of the Court of Appeal to constitute a full panel of the court. Justice Augie said: “The appeal is very sensitive since it involves the rights of the applicants, who are Muslims, to wear the hijab over their school uniform in accordance with their religious beliefs. We are a three-man panel, and more importantly, we are an all-Muslim panel.” Responding, the appellants’ counsel, Chief Gani Adetola-Kazeem (SAN), acknowledged that the appeal was sensitive in nature and would most likely get to the Supreme Court. Adetola-Kazeem urged the court to make its record of proceedings available to enable him write to the President of the Court of Appeal. The Lagos State

Government had banned the use of hijab on the grounds that it was not part of the approved school uniform for pupils. Following the ban, the two girls filed the suit on May 27, 2013, seeking redress and asking the court to declare the ban as a violation of their rights to freedom of thought, religion and education. However, on October 17, 2014, Justice Onyeabor of an Ikeja High Court dismissed the suit instituted against the Lagos State Government by the girls. In her judgment, Onyeabor held that the prohibition of the wearing of hijab over school uniforms within and outside the premises of public schools was not discriminatory. According to her, the ban does not violate Sections 38 and 42 of the constitution as claimed by the plaintiffs. The judge said Section 10 of the constitution makes Nigeria a secular state and that government must maintain neutrality at all times. Onyeabor said the government therefore has a duty to preserve the secular nature of the institutions concerned as argued by the

Bulkachuwa

then Lagos State SolicitorGeneral, Mr. Lawal Pedro (SAN). She noted that since the public schools were being funded by the government, it was therefore competent to issue dress codes and

other guidelines to the students. According to her, the use of uniforms engenders uniformity and encourages students to pursue their mutual academic aspirations without recourse to religious

or any other affiliations. The judge observed that the uniformity sought by the government in the issuance of the dress code would be destroyed, should the prayers of the plaintiffs be granted.

NBS to Conduct Survey on Impact of Corruption on Nigerians James Emejo in Abuja The National Bureau of Statistics (NBS) has said it has commenced a collaborative initiative with the United Nations Office on Drugs and Crime and the European Union to conduct a national survey

on the quality and integrity of public services in the country. The study will largely seek to collect evidence-based data on the different forms of corruption affecting the lives of the average Nigerian citizen. Among other things,

it would also attempt to establish the direct experiences of corrupt events as victims by citizens, gauge opinions and perceptions of citizens about recent trends, as well as patterns and policies on corruption. Its objective would also be to assess the experience

of reporting corruption and other crimes on public authorities, as well as access to justice, NBS said in a statement yesterday. According to the NBS, 36 states of the federation, including the Federal Capital Territory (FCT) will be covered in the survey.

It explained that NBS interviewers would visit 33,300 households from April 30 to May 19, 2016 to solicit for information during the survey. It sought the cooperation of respondents in volunteering accurate information to interviewers

during the data collection exercise, adding that their cooperation would determine the success of the exercise. The survey is a follow-up to a pilot survey previously conducted on the same issue in Delta, Oyo, Katsina and Kwara States.

succumbed to the wishes and demands of Buhari. He disclosed that the preview of the revised budget details was submitted to the presidency at the weekend. His disclosure was confirmed by another top presidency source. The presidency source disclosed that members of the reconciliation committee from the executive met with their National Assembly counterparts at 3 pm yesterday in Abuja and were still meeting as of press time, to harmonise their differences with a view to ensuring that the document was one clean copy devoid of major variables. According to him, the final copy was expected to be sent to the presidency without delay “once all the ‘Is’ had been dotted and the “Ts’ crossed”. He said: “We received the

preview of the budget details. We are meeting with them about 3 pm to 4 pm, because it was to be consensual work. The ministers will look at what they have done so that it will be agreed to fully that this is what will be presented. We have received the preview copy, not the final copy that will be forwarded to the president.” He affirmed the remark by Vice-President Yemi Osinbajo at the weekend in Ibadan, the Oyo State capital, that Buhari would assent to the budget this week. “The assurance to Nigerians will be kept because the vicepresident is the head of the economic team,” he said. He however declined to provide insight into some of the changes made in the budget by the reconciliation committee, adding that with the resolution of the grey areas, the 2016 budget

would meet the yearnings of Nigerians. “They (the grey areas) are being eliminated one by one. And Nigerians will be happy when the budget is signed. They are being eliminated and reduced. It will be a budget for Nigeria made by Nigerians,” he added. The source further said that the resolution of the budget impasse was a win-win affair without one arm of government lording it over the other. “We want to make sure that it is done properly so as to keep each other’s powers intact. The executive has its powers, very enormous, and the powers of the legislature are preserved. “In matters like this, it is the legislature that is the oga (meaning the boss). So we the executive have to respond. We are the ones begging them to pass budget,” he added.

N'ASSEMBLY, PRESIDENCY REACH COMPROMISE ON BUDGET DETAILS reconciliation committee set

up last week by the executive and the leadership of the National Assembly to resolve the “grey areas” in the budget submitted its report in the wee hours of yesterday morning to the presidency, but work continued at a frantic pace up till last night after some observations were made by the presidency on the details, in order to clean up the bill preparatory to its submission to the president today. After trading blame for weeks, the leadership of the National Assembly and the presidency met last week and resolved to end the budget impasse by constituting a reconciliation committee comprising members of the executive and the presidency. According to a source in the legislature, the compromise reached was to retain the main underlining figures and parameters of the budget, but

the executive gave some room to the National Assembly to alter, where necessary, up to 20-30 per cent of the budgets of federal ministries, departments and agencies (MDAs). He said: “This was agreed in recognition of the independence of the legislature with respect to appropriation, and so that it does not end up being a rubber stamp for the executive.” Based on this principle, the source added, the joint committee of the National Assembly and the executive reviewed the subheads of the MDAs to ensure that where budget cuts or additions exceeded the 20-30 per cent threshold, they were amended in line with the agreement reached on the budget. The source said: “Having reached this compromise, all the grey areas have been resolved,” adding that with

the submission of the details of the budget and the two follow up meetings, work was expected to be finalised on the budget details last night. “Upon the completion of work, the budget details will be signed tomorrow (Wednesday) morning by the Chairmen of the Appropriation Committees in both chambers of the National Assembly, following which the document will be sent to Mr. President. He added that with the grey areas resolved and the last minute work to tidy up the budget last night, Buhari would most likely assent to the Appropriation Bill by today or tomorrow. A presidency source also told THISDAY that the budget crisis was already over because the National Assembly eventually changed its initial stance not to review the budget, but subsequently

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

FG Slams N1.3tn Claim on Shell for Bonga Spill

President Muhammadu Buhari has authorised the Attorney General of Federation (AGF) and Minister for Justice and National Oil Spill Detection and Response Agency (NOSDRA) to commence legal action against Shell Nigeria Exploration and Production Company on behalf of 350 communities in Delta and Bayelsa States affected by Bonga Oil spills of 20 December 2011. The country is demanding N784billion as compensation for oil spill that destroyed the affected communities. The Nigerian government, according to The News, is also demanding another sum of N495billion as restitution and restoration of the devastation of the economic zone of the Nigeria territorial waters, and N50million as cost of this legal action. Joined as co-defendants in the legal battle are, Shell Petroleum N.V, B.V Netherlandse International Indusrie-E Handel Maatschappij, Shell Transport and Trading Company Plc and Royal Dutch Shell Plc, which are all allied companies of Shell Nigeria Exploration and Production Company. A Deputy Director, Oil Field Assessment Department of, NOSDRA, Mr. Akindele Olubunmi, in an affidavit filed at the Federal High Court Abuja, said he had the consent and the authority of, President Buhari, AGF and the Director General of NOSDRA to bring the legal action in relation to the damage and devastation done to the exclusive economic zone, ecosystem, marine life, and the environment caused by Bonga crude oil spills of December 20, 2011. A Lagos lawyer, Awosika Dada Adekunle, is handling the case. The Nigerian government alongside, NOSDRA are also suing in order to protect the interest of fishermen and persons affected by the Bonga crude oil spill numbering about 285,000 persons from 350 communities and satellite villages with their consent to institute this suit. Olubunmi averred that

around December 20, 2011, Shell in the course of their oil and gas exploration activities within OML 118 approximately 120 kilometres off the coast of Guinea, recorded a record oil spill. This happened when the export line linking their Float Production Storage and Offloading (FPSO) vessel at their Bonga Field deep offshore, which was supplying crude oil to a tanker (MV NORTHIA), ruptured thereby spewed out crude oil into the sea. The incident was reported to the federal government that same day through NOSDRA. The defendants admitted spewing out 40,000 barrels of crude oil into the sea, causing devastation and degradation of the aquatic life, marine environment including the territorial waters of Nigeria along Niger Delta axis and destroying the sea beds and aquatic lives in the continental shelf within the Nigeria exclusive economic zone. There were severe disruptions to communities, persons, properties and lives of people in the shoreline area as a result of the spill. The plaintiffs, inaugurated consultants and expert, in collaboration with other stakeholders including, the Nigeria Maritime Administration and Safety Agency (NIMASA), National Assembly Committee on Environment and Ecology to carry out the mapping area that suffered economic losses and damages. Aftermath of all the investigations and in line with their statutory duties and obligations, the plaintiffs notified the defendants of their decision to pay $3,600,191,206. representing compensation to the 350 communities and satellite villages impacted by the Bonga oil spill disaster and punitive damage which is to be paid to the plaintiffs as sanction totaling $1.8 billion from the said sum to deter occurrence of such dastardly act However, it was alleged that despite the facts that the defendants have processed and received insurance claims for the crude oil spillage that occurred at OML 118 Bonga Oil Field on December 20,2011,the defendants

Kidnapped Senator Anisulowo Regains Freedom Sheriff Balogun in Abeokuta Formal Minister of State for Education, Senator Iyabo Anisulowo, who was kidnapped last week in her farm by armed men in Sawonjo area of Yewa Local Government Area, Ogun State has regained freedom. A family source who spoke with THISDAY last night said no single money was paid for the release of the senator but commended the efforts of the state government, security men and Nigerians.

According to the state Police Public Relations Officer, Muyiwa Adejobi, the senator was rescued at Gbegbelawo, near Olorunda town at about 7p.m. He said two suspects who might be members of the kidnap gang had been arrested, saying one was arrested in a hotel in Lagos as he preparing to travel to Dubai. He added that other suspect was a lady and their names and pictures would be withheld for security reasons.

have refused and neglected to pay compensation, punitive damage and cost of restoration, restitution and redemption of the environment statutorily assessed by the plaintiffs. The plaintiffs punitive compensation was adopted after the United States Supreme Court decision of June 25, 2008, against Exxon Valdez in Wallings Versus Waillings and in line with international best practices as it has been seen in other climes like Equadorian court awarded $9.5billion against Chevron Corporation and most recently in the

United States of America, British Petroleum in April 2011 settled and agreed to pay $20billion oil spill at Gulf of Mexico to be shared among various communities directly impacted by the disaster. Consequently, the plaintiffs are now seeking the following reliefs from the court *An order directing the defendants to pay the sum of N712.8 billion to the plaintiffs as compensation to the affected communities *An order directing the defendants to pay the sum of N71.2 billion representing

administrative costs and fees to the consultants and experts engaged to carry out damage assessment. *An order directing the defendants to pay to the plaintiffs the sum of N495 Billion for restitution and restoration of the damage and devastation of the Nigeria territorial waters occasioned by the negligent conduct of the defendants *An order of the court directing the defendants jointly and severally to pay the plaintiffs N50million as cost of this legal. action.

Meanwhile, based on an application filed and argued before the court by plaintiffs counsel, Mr. Dada Awosika, seeking the order of the court to serve court process on four of the defendants who are based outside the country, Justice Binta Murtala Nyako adjourned the case to June 6, 2016. She ordered that all the court process in the case should be served on Shell Petroleum N.V,B.V Netherlandse International indusrie-e handel Maatschappij, the Royal Transcorp and Trading Company Plc and Royal Dutch PlLC.

WELCOMETO NIGERIA

L –R: President Muhammadu Buhari ; visiting President, Paul Biya of Cameroun ; behind ; Wife of the Nigerian President Aisha Muhammadu Buhari; and Wifeof CamerounianPresident, Mrs.ChantalBiya,duringtheirarrivalatthePresidentialVillainAbuja tobeginatwo-dayofficialvisittoNigertia...yesterday GodwinOmoigui.

Economic Crunch May Affect Demand for New Minimum Wage, Says Oyegun Consolidation of MDA s delaying board appointments Onyebuchi Ezigbo in Abuja The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, has said the dire economic situation which the country is present grappling with will no doubt be a determining factor in the clamour for increase in wage by the labour movement. He also said any demand for new minimum wage should be in line with the abilities of the federal and state governments to pay which would seek to meet with reasonable demand of workers for improved conditions of service. Oyegun, who spoke with journalists in his office at the national secretariat of the APC, used the opportunity to pay tribute to the late Oba of Benin, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Erediauwa, describing him

“as a consummate manager of men” during his days at the federal civil service, where he made his mark. Speaking on the party’s position on the demand by the labour union for an increment in the minimum wage, Oyegun cautioned that any such considerations must be based on the economic realities on ground and the ability of government to pay. It is a matter for the economy and the executive at federal and state levels who will have to consider the demand in line with their abilities to pay and of course in line with reasonable demands of workers for improved conditions of service. This wages increments must be based with the economic realities on ground, that’s, the ability to pay. “It shouldn’t be a federal matter, state should be allowed to make their decisions based

on their abilities to pay. The cost of living is not the same in every part of the country. One state has made a decision and this will tell other states to talk to their workers and let them see their ability to pay and then decide accordingly. The federal government should decide based on the reality on ground and make a decision too,” he said. On the delay in the federal board appointments by the APC government, the ruling party chairman, blamed it on the fall-out of merger of ministries which was intended to save scarce resources. “I can say the merger of ministries brought a lot of questions as to whether federal boards will not also be merged. These processes are being looked into and I can assure you that sooner than later, the announcement (for the appointments of federal board members) will start

soon,” he said. Oyegun also commented on the assassination attempt on the life of the Deputy Governor of Edo State, describing the incident as absurd and unacceptable. He warned that the party leadership would not condone rascality, adding that the national headquarters of the party would ensure free, fair and transparent primaries for the selection of its governorship candidate in the state. “What happened in one of the local government areas of the state is unacceptable and cannot be tolerated, it is our hope that the police will get to the bottom of the matter and make sure that the offenders are brought to book. Of course, the bottom line is that whatever is happening there, the National Headquarters of the party will ensure free, fair and transparent primaries,” he said.

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWS

Enugu Killings, an Act of Criminality, Say Shettima, Okorocha APC govs visit state Ugwuanyi set to open IDP camp for Nimbo people IG redeploys police commissioner Christopher Isiguzo inEnugu The Chairman of the Northern Governors’ Forum and Borno State Governor, Kashim Shettima, yesterday in Enugu State asked the federal government not to rest until those behind last week invasion of Ukpabi Nimbo community in Uzo-Uwani Local Government Area of Enugu State are fished out and decisively dealt with. While describing the perpetrators of the heinous crime as criminals, the governor noted that Nigeria remains “one nation with common destiny.” He said despite the challenges facing the country, Nigerians must unite to surmount them. Shettima applauded the Enugu State Governor, Ifeanyi Ugwuanyi, for showing leadership in the face of obvious provocation occasioned by the attack in Nimbo community. Shettima spoke when governors of Imo State, elected on the platform of the All Progressives Congress (APC) led by their Chairman and Governor Rochas Okorocha, paid a sympathy visit to the government and people of Enugu State. Among those who were part of the delegation to the Coal City were Governor Baderu Abubakr of Jigawa State, Rauf Aregbesola of Osun State, Shettima, Okorocha and the Deputy Governor of Yobe and Kogi States, Aliyu Abubakar and Simeon Achuba respectively. The Borno State governor said he understood the “meaning of terror and the associated pains. “We have been through that for over seven years and we have been able to forge ahead largely because of the empathy we have received from our compatriots from all over the country including the sympathy of the good people of

Enugu State. “In our last meeting with President Muhammadu Buhari, it might interest you and other eminent personality to know that we acknowledged the generous contributions of the government and people of Ebonyi State to the victims of Boko haram attacks in Borno State. Though we belong to the APC club, Ebonyi which is South-eastern state, a Christian state, but in the true spirit of nationhood, the people showed sympathy and support to the people of Borno State. Even in the face of crisis, the need to maintain calmness remained imperative. “In a period like this, we must be able to maintain the highest level of clear-headedness about the challenges that face us as a country and we know that these are very difficult times for our country. Times like this call for sobriety, maturity, level-headedness, and I want to pay a specially tribute to my brother the governor of Enugu State for showing leadership in moments of crisis. I want to pay a special tribute to our traditional rulers for our religious leaders for maintaining calmness in moments of crisis. “I was with our president last night and I can tell you how he expressed sadness and pains over the attack. He remains so much worried and is leaving no stone unturned in ensuring that those criminals behind the attack are brought to book. Indeed, we must find the killers and treat them as criminals that they are,” he noted. On his part, the leader of the delegation and chairman of the Progressives Governors Forum (PGF), Okorocha, said they were in Enugu to identify with the people of the state over the ugly incident of last week which claimed many

lives, noting that though the Enugu State governor belongs to the PDP, in such “situation, we must put aside our religious and political differences and come together in the interest of the unity of this country. “Death is death no matter how it comes but the most painful one is man-made death. This nation of ours is one irrespective of our political affiliations. In death, there is no political party. We’ve come to show our genuine concern, to commiserate with Ndi Enugu. You’ve shown maturity in handling the matter in spite of the obvious provocation. In other places, there would have been reprisals but the governor has not allowed it to degenerate into ethnicity or tribal lines. “We condemn it in its entirety. This is an act of criminality. We

must understand that a criminal in Borno State is also a criminal in Enugu, Imo or Osun State; he remains a criminal everywhere and must be treated as such.” Responding, Ugwuanyi said the visit was not only heartwarming but to a large extent, confirmed that Nigerians do share a common of sense of grief and loss with the people of Enugu State over the unfortunate incident. “I recall that most of you had earlier, during our last meeting, extended their condolences to me, but coming here in person today also demonstrates your love and high regard for the people of Enugu State. I’ve also previously expressed our gratitude to President Buhari along with members of the National Assembly, various Leaders of thought and indeed

Nigerians for the concern, outrage and sympathy they displayed over the incident,” he said. Meanwhile, Governor Ugwuanyi yesterday announced that Internally Displaced Persons (IDPs) camp would be set up at Ukpabi-Nimbo very soon to cater for those who abandoned their homes at the wake of last week invasion and killing of residents of the community by suspected Fulani herdsmen. The governor spoke as a coalition of 13 women-based non-governmental organisations in the South-east zone organised a peaceful protest over the recent killings in Nimbo. Dressed mainly in black and bearing placards with various inscriptions, the protesters marched from Okpara Square to the Enugu Government House and Enugu

House of Assembly. At the gates of the Government House where they were received by the state governor, Ugwuanyi, the protesting women decried the killings, raping of “wives and our daughters,” abductions and maiming of people in vulnerable communities in the South-east. While the widows tearfully narrated their ordeals to the governor, they lamented that they had no where to go as they didn’t feel secure returning to their precious homes. As at 10:30a.m. more than 300 protesters majority of whom were women groups protested at the Government House gate. Addressing the protesters, Ugwuanyi narrated how every effort he made to forestall the

Cont’d on page 58

FG Orders Doctors to Treat Gunshot Victims without Restraints

LET THE INVESTORS COME

Paul Obi in Abuja with agency report

Edo Declares Five Days of Mourning, Public Holiday over Demise of Oba of Benin

The federal government yesterday issued a directive to medical doctors across the country to henceforth treat all patients and victims with gunshot without any form of restrain. The Minister of Health, Prof. Isaac Adewole, gave the order at induction ceremony of foreign graduate organised the Medical and Dental Council of Nigeria (MDCN). According to him, government was considering reforming the health sector,with the objective to scale up service delivery across various sections of the sector. “Hospitals are sanctuary for those ill and injured, never must our hospitals be closed for whatever reasons; even in war time situations, hospital must remain open. Doctors must show no restraint in treating emergencies, even with gun-shot wounds you must treat them, thereafter raise questions. You must also treat emergencies before asking for money because life is more precious than money,” the minister stated. Adewole said: The Federal Ministry of Health has strategically

identified and mapped out a number of key activities to ensure that Nigeria reverses the ills and failures in the healthcare system. “Training of prospective and qualified healthcare professionals is one of the key agenda of the present administration. “On receiving your registration certificates and licenses, you will proceed to your internship training at any of the MDCN accredited centres. “We are not unaware of some of the challenges some young doctors experienced in securing placement for internship.” “We are working assiduously to ensure that doctors eligible for internship training will no longer wait endlessly searching for centres to enrol for their training. Adewole added that “with over hundred MDCN accredited internship centres among others, the ministry would work with key stakeholders to ensure effective distribution and financing of the training Programme within the country. “This will ensure that the perennial difficulties in securing internship programmes by the resident doctors will become history,’’

L-R: Ogun State Deputy Governor, Mrs. Yetunde Onanuga; Governor Ibikunle Amosun; Commissioner for Budget and Planning, Adenrele Adesina; and the Commissioner for Commerce and Industry, Chief Bimbo Ashiru, during a world press conference to unveil the third edition of the state investors’ forum, at the Governor’s Office in Abeokuta...yesterday Kola Olasupo

Adibe Emenyonu in Benin City As a mark of respect for the Oba of Benin who recently transited to immortality, the Edo State Government has declared a fiveday public holiday with effect from May 3, 2016, to mourn the revered royal father. The announcement came just as the National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, and the former President of Trade Union Congress (TUC) and Edo State APC governorship aspirant, Peter Esele, consoled Crown Prince Eheneden Erediauwa on the passing of the Oba. In a government special announcement signed by the State Commissioner for Information and Orientation, Mr. Kassim Afegbua, only those on essential services in health centres, the fire service and others are exempted from

observing the public holiday. According to the announcement, the Nigerian flag is expected to be flown at half mast across the state during the five-day mourning period, while work is expected to resume on May 9, 2016. All government offices, establishments and parastatals are expected to fully comply with the directive. Meanwhile, Oyegun in a condolence visit to the Edaiken N’Uselu and Crown Prince described the late Oba as a royal colossus, whose exploit in the annals of governance brought honour, dignity and candour to the traditional rulership in Nigeria and beyond. Oyegun who was accompanied by the Minister of State for Health, Dr. Osagie Ehanire, on the visit, revealed that the Oba of Benin was a great inspiration to all those behind him during his civil service years.

The APC national chairman who disclosed that their visit to the Edaiken and other members of the royal family was meant to console and reassure them of the support of the people, however posited that as grievous as the exit of Oba Erediauwa maybe, there was consolation on the fact that the great king left a well equipped, vibrant and articulate successor. According to him, “With regard to the pedigree of the Crown Prince as an accomplished diplomat and administrator, there is no doubt that he has the ability and preparedness of His Royal Highness to pilot affairs of Benin kingdom to the desire destination.” Also, in his condolence message, Esele said he decided to halt his campaign for seven days in honour of the departed Oba. Esele whose condolence message was issued by

Sylvester Ikuvbogie, Head Administration/Protocol, Peter Esele Campaign Organisation (PECO), described the 37-year, reign of the departed Oba as very eventful, peaceful and rewarding. According to the statement, “The leadership style of Oba Erediauwa was second to none. We are therefore consoled by his everlasting legacy of consistency in policy formulation and evaluation as well as his administrative prowess.” While praying to God to give the Crown Prince, Ehenede Erediauwa, Edaiken N’Uselu, the wisdom, good health, knowledge and understanding to pilot the affairs of the great Benin Kingdom, the Esele Campaign Organisation said though campaign had started in the Edo North district of the state, it has suspended all further campaign activities for seven days as a mark of honour for the revered monarch.

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWS

Crisis Hits Edo Assemby as Speaker, Deputy Impeached Adibe Emenyonu in Benin City Crisis rocked the Edo State House of Assembly yesterday when its premises was invaded by suspected thugs following the impeachment of the speaker, Mr. Tiger Victor Edoror and his deputy, Mr. Bright Osayande by 16 lawmakers of the assembly. Both leaders were said to have been impeached for alleged abuse of office, misconduct and abuse of power. In their place, Mrs. Elizabeth Ativie (Uhumwonde constituency) was sworn in as speaker, while Justin Okonobo (Igueben constituency) emerge as the deputy speaker of the House. The motion for the impeachment of the speaker was moved by the Majority Leader, Mr. Folly Ogedengbe (Owan West constituency) and was seconded by the member representing Etsako West 1 Constituency, Gani Audu. Before the impeachment, a speaker extempore, Mr. Patrick Iluobe was appointed to preside over the business of the day, during which Ativie was appointed speaker and Okonoboh her deputy. Immediately the new speaker was sworn-in, the impeached speaker and his deputy walked into the chamber in the company of the suspected thugs shooting sporadically to scare people out

of the chambers. In the process, a lot of people sustained various degree of injuries. The chaos caused by the shooting, compelled security operatives to immediately take over control of the assembly’s premises, as staff scampered for safety. It was learnt that the fate of other principal officers will be decided this week by the new leadership of the House. Signs that the speaker was going to be impeached had been on the horizon for some time, after a majority of the members alleged that funds meant for them were not reaching them. The cold war in the House was said to have taken a turn for the worse after it was discovered that some of the outgone council chairmen of local government councils parted with money to the leadership of the assembly with the view of getting their tenures extended. However, majority of the lawmakers wondered who they gave the money to, as none of them got any kobo from the former council chairmen. The speaker and his deputy, however, had denied that they received money from the exchairmen. The leadership of the House had on several occasions engaged in arguments with other members over the money, despite Governor Adams Oshiomhole’s

Kaduna Govt Arraigns another 91 Shiites, Seeks Death Sentence The Kaduna State Government yesterday arraigned another batch of 91 members of the Islamic Movement in Nigeria (IMN) before the state High Court, seeking death sentence for the accused. The government had on April 21 arraigned 50 members of the sect on similar charges. They were among the 266 sect members arrested during the Shiite/ Army clash between Dec. 12 and Dec 14, 2015 in Zaria. The Shi’a group, Islamic Movement in Nigeria, said over hundreds of its members were killed and secretly buried by soldiers during the clash. The state government said 347 bodies were buried by the army and the state government in the Mando area of Zaria. New Agency of Nigeria (NAN reported that 256 of other Shiites arrested by the army are facing charges that attract death sentence, while 10 others are facing other charges in different courts in the state. They were arraigned on a five-count charge for criminal conspiracy, culpable homicide, unlawful assembly, disturbance of public peace and wrongful restrain. Dari Bayero, who led the prosecution, told Justice Hajara Gwadah that the accused persons were being charged “pursuant to Sections 97, 102, 106, 221 and 256 of the Penal Code Law of Kaduna State. “My Lord the charge before you is for mention. We humbly

apply that the names of the accused persons be called out for identification. “My Lord the 1st, 13th, 34th, 39th, 57th , 66th and 70th accused persons are not in court and are absent. “They were released on bail and are aware of this date particularly the accused person No. 57 who we have proof of service on. “My Lord the 1st accused person was released on bail to one Ibrahim Haruna who is resident at Zaria. “My Lord we hereby apply for a bench warrant against the 57th accused person. “My Lord same is also applied against all the accused persons that are absent. I also apply for a short date for further arraignment.“ On his part, Festus Okoye, who led the defence team, said the prosecution had not served any of the accused persons with the charge since the case was filed on March 22, 2016. “My Lord our first application is that the prosecution should serve the charges on all the accused persons. “My Lord, the application for bench warrant against the accused persons that are not before the court is not proper. “My Lord the 1st accused and his surety were not served with a copy of this charge and hearing notice and thus, are not aware that the matter comes up today. “The 13th accused person was released because he was critically ill. There is also no evidence that he was served with the charge or

attempts to resolve the matter. Several efforts made to get the reaction of the impeached speaker proved abortive as he hurriedly left the chambers after the invasion by the unidentified gunmen. However, the lawmaker representing Ikpoba Okha Constituency in the House, Mr. Henry Okwuarobo, asserted that “we got tired of many things and we had to commence the impeachment”. He said: “On several occasions the leadership of our great party had intervened including the governor but we discovered that the speaker kept making

the same mistakes. “The majority agreed that we needed a new leader and that is what you have seen today. It has nothing to do with the forthcoming governorship election, this is purely a legislative matter and people must not construe anything to what has happened. “We must uphold the integrity of this House and that is what we just did. So nobody should come now to blame either the governor or the deputy, we are carrying out our duties as lawmakers.” Addressing journalists immediately after the fracas, the new speaker, Mrs. Ativie,

said members could no longer tolerate the greedy nature of the ex-speaker. She said the impeached speaker has up to six different unresolved financial cases with the Economic and Financial Crimes Commission (EFCC) and members could not continue to allow such an “indecent person” to lead the House, adding that a five-member committee headed by Kabiru Adjoto, representing Akoko-Edo 1 Constituency, will investigate the financial recklessness of the ex-speaker’s tenure from June 2015 till May 3, 2016. She said, if found wanting

at the end of the three months when the committee will submit their report, he will be handed over to the appropriate authorities. Also speaking, Adjoto Kabiru described the impeached speaker as “violently corrupt” and who has a flair for “eating government money” just the way the red mouthed squirrel has a mouth for palm kernel, adding that as it is eating one kernel, it is looking at another one.” At the time of filing this report, the new leadership of the assembly was at the Edo Government House meeting with Oshiomhole.

WHAT ARE THE BOOKS LIKE?

Chairman, Custodian and Allied Plc. Chief Michael Ade Ojo (left); and the company ‘s Managing Director/CEO, Mr. Wole Oshin, at the 21st annual general meeting of Custodian and Allied Plc in Lagos...yesterday Sunday Adigun

Again, FG Fails to Produce Dasuki in Court for Trial Court adjourns till May 23

The federal government yesterday failed to produce former National Security Adviser (NSA), Colonel Sambo Dasuki (rtd), before a Federal Capital Territory (FCT) High Court in Abuja for trial on corruption charges brought against him by the government. Although the witnesses in the case were assembled by the Economic and Financial Crimes Commission (EFCC) in court, the trial was scuttled by the failure of the Department of State Services (DSS) to release Dasuki to EFCC for the trial. When the case came up yesterday, counsel to the EFCC, Mr. Oluwaleke Atolagbe, informed Justice Baba Yusuf that he had made serious efforts through the EFCC to contact the DSS to produce the first defendant in court and regretted that as at the time the court was sitting his efforts did not yield fruitful result. The counsel informed the court that there was no indication that the former NSA would be brought to court for the trial even though

the witnesses are in court and that Mr. Rotimi Jacobs (SAN) who was supposed to be the lead prosecution counsel was at the Court of Appeal for a different matter. Atolagbe appealed that the matter be stood down pending the arrival of Jacobs in court to come and shed more light on the absence of Dasuki. However, counsel to Salisu Shuaib, a former Director of Finance ONSA, Chief Akin Olujimi, said the coming into court of Jacobs would be inconsequential in the absence of the first defendant (Dasuki). Olujimi, a former Attorney General of the Federation and Justice Minister, told the court that the prosecution had failed to produce the defendant in court and ought to admit that and asked for adjournment. The SAN informed Justice Yusuf that it was settled in law that trial cannot go ahead in the absence of the defendant and prayed the judge to grant adjournment to the prosecution to enable them take steps to produce Dasuki in court on the

adjourned date. Olujimi also asked the court to issue a stern warning to the prosecution to be serious in the trial and to ensure that Dasuki is produced in court at all stages of the trial as demanded by law. In his submission, counsel to Aminu Baba-Kusa, a former executive with the Nigerian National Petroleum Corporation (NNPC), Mr. Solomon Umor, informed Justice Yusuf that “ordinarily the prosecution ought to apply for a bench warrant against Dasuki for a failure to appear in court for trial but noted that in the instance case, the prosecution would not do so because they are the one responsible for the absence of Dasuki because of his unwarranted detention. “Let the truth be told here that it is the federal government that is frustrating this trial because it wants to eat its cake and have it at the same time. By this, I mean the government wanted the first defendant tried for criminal matter and yet it is not ready to allow the defendant have

access to his lawyers or even to court to face that trial. “I would have asked that the defendants in this case be discharged and allow to go home pending the time the prosecution would get serious for their trial. But I will reluctantly concede to one more adjournment be granted to the prosecution. “Let me say that this adjournment should go with stern warning to the prosecution should not come before this court with another story because the defendants must not be held to ransom by the unwilling prosecution.” In his ruling, Justice Baba Yusuf said it was the responsibility of the prosecution to produce the defendant in court as required by law but regretted that the prosecution has unfortunately abdicated this responsibility today as far as this case is concerned. However, the judge said because the conduct of the prosecution had been good in the past, he granted an adjournment of the trial till May 23, 2016.

T H I S D AY WEDNESDAY MAY 4, 2016

T H I S D AY • WEDNESDAY, MAY 4, 2016

COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

ENUGU MASSACRE: WAITING FOR JUSTICE (1) Sonnie Ekwowusi argues that the criminals must bear the full weight of the law

he massacre on April 25 of innocent citizens of Ukpabi-Nimbo community in Uzo-Uwani Council of Enugu State by the Fulani herdsmen was another injustice crying for remedy. The gory pictures of the dismembered bodies of the citizens circulating on WhatsApp were simply revolting. For more than one decade, the rampaging Fulani cattle men have literally overrun different parts of Nigeria, killing, raping, maiming and destroying farmlands. Prior to April 25 Enugu massacre, some herdsmen invaded another Enugu community leaving some citizens dead and injured. The Fulani herdsmen are said to be responsible for the death of a Delta State monarch and some Delta State citizens recently. Murdered and brutalised by the Fulani herdsmen, the elders of Benue State have recently sent an SOS to President Muhammadu Buhari. Suspected Fulani herdsmen recently attacked Cardinal John Onaiyekan along Ekpoma-Benin Road near Ehor. The cardinal was peacefully asleep in the car. His driver had slowed down the car to dodge a pothole. Then suddenly he saw some heavily-armed men whom he suspected were Fulani herdsmen emerged from the bush and started raining bullets on the car. Had the driver not escaped with a reverse gear it would have been a fatal story involving the cardinal. The truth of the matter is that Fulani herdsmen have cut their teeth as one of the world’s deadliest terrorist groups. Nigerians home and abroad are worried. As I write this, there is tension in many parts of the South-East. Many Igbo communities now live in fear, the fear of Fulani herdsmen who have recently said that grazing is their constitutional right and therefore no one can stop them from exercising that right in the South-East. Meanwhile Nigerians on social media, in London, in United States of America, in town union meetings, in villages after villages, in the pulpits, in market places, in beer parlours are asking the same sobering questions: why has Nigeria become a target for Fulani herdsmen? What does the future hold for us and our children? Why have the Fulani cattle men acquired a god-like status under the Buhari government? Who is arming the Fulani herdsmen with AK-47 and other sophisticated weapons? Why do the Fulani herdsmen often resort to raping women, razing down Christian churches and destroying farmlands? Is this another terrorist group trying to gain ground in Southern Nigeria? There is a consensus that President Buhari has been handling the Fulani herdsmen with a kid’s glove. For example, in reaction to the

WHO IS ARMING THE FULANI HERDSMEN WITH AK-47 AND OTHER SOPHISTICATED WEAPONS?

murder of a Divisional Police Officer in charge of Vunokilang Police Station in Girei Local Government Area of Adamawa State and the murder of about 30 other people by the Fulani herdsmen in January 2016, President Buhari said that poverty and joblessness were responsible for such communal clashes. He further stated that his government was planning to map out grazing areas that would soon be presented to the Governors Forum as a temporary solution to the frequent conflicts until cattle owners were persuaded to adopt other means of rearing their cattle. Since then, repeated clashes between Fulani herdsmen and farmers across Nigeria have led to thousands of deaths. And the president has not been treating the clashes with the seriousness they deserve. For example, the president’s first reaction to the April 25 Enugu massacre was that his government needed 18 months to find solution to the escalating Fulani herdsmen murder. Peeved by this, Professor Wole Soyinka, in his article entitled: “Pastoralism or Terrorism?: The Killing Culture of the Neo-Nomadic,” lamented, that rather than invoke the state machinery of justice and bring the murderers to justice, the president was proposing an 18 months plan that “smacks of abject appeasement and encouragement of violence on innocents”. But apparently recanting his earlier position, the president has now directed the Chief of Defence Staff and the Inspector-General of Police to secure all communities under attacks by herdsmen. It is instructive that pursuant to section 14 (2) (b) of the 1999 Constitution it is the primary responsibility of the federal government to protect Nigerian citizens from Fulani herdsmen’s killings. I may be wrong but I think that if President Buhari had timeosly exercised his power under the constitution and directed the security agents to beef up security in Enugu communities after the Fulani herdsmen initially sacked some communities, the latest Enugu massacre probably would not have occurred. Now that the latest massacre has occurred we have no option but to reap the reward of our negligence. If the federal government understands that the killings have done a colossal damage to Nigeria it would not have been treating it with levity as Prof Soyinka rightly observed. Clearly the killings have set Nigeria backward. It has re-shaped Nigerian politics. It will surely affect the outcome of the 2019 elections in Nigeria. Coming on the heels of May 29 when Nigerians are jostling to assess President Buhari’s one year in office, the Fulani herdsmen’s massacre has clearly tilted public opinion against the Buhari government. That is why the government should stand up now and treat the matter seriously. It is a pity human lives have become so cheap in Nigeria.

NIGERIA, TRAGEDIES AND HOPES

The hope of Nigeria is in a conscientious and sacrificial leadership which raises virtues instead of wealth, argues Arize Nwobu

he concept of nationhood was authored by God and there are 17 prerequisites gleaned from the Bible which are foundational to nation building and prosperity of nations. And at no time in the history of the Nigerian experiment is this concept more apt for conversation in the political space and era ‘’Change’’, so campaigned. These fundamentals of nation building include ‘communication’ or the power of the spoken word, ‘unity’ of purpose, ‘leadership’- a responsible, zealous, charismatic and sacrificial leadership exemplified in such Biblical personages as Moses, Joshua, Samuel, Nehemiah, David and Jesus, the greatest of them all, ‘an enabling environment,’ for the prosperity of the people, ‘orderliness through submission to constituted authorities, ‘capital punishment,’ for the deserving offender, ‘agriculture or food security- and housing.’

Others are ‘technology’ to subdue the power and challenges of nature for the benefit of man, ‘wisdom of the ant’- the pro-activeness to save for the rainy day in recognition of the cyclical nature of economies and markets, ‘liberty’ for citizens to pursue legitimate aspirations- social, economic, religious, a blind and efficient ‘judiciary,’ that is no respecter of persons for the enthronement of equity and justicethe bed rock of governance; ‘benevolence,’- (regard and support for the poor and weak in the society), a proactive and strategic security backed by a strong, strategic and efficient ‘army’ , ‘fear of God,’ and ‘righteousness,’ (doing the right things as a national way of life) because ‘’righteousness exalts a nation’’. The extent to which all or some of these prerequisites are entrenched in a system would largely determine the national spirit, ethos, and future of a nation. Unfortunate nations with ‘’blind’’ leaders who are lax in these fundamentals are more prone to stagnate, retrogress, be confounded and in extreme cases attract divine calamity , while fortunate nations with wise leaders who have eyes and can see, and who entrench these fundamentals would most likely rejoice in the midst of the earth. Sadly, Nigeria does

not rank favourably in most of these things, the reason corruption or the so-called ‘’Nigerian factor’’ became a way of life. However, this piece will focus on the power of the spoken word (communication) and unity of purpose, the latter being the soul of nation building. Leaders with gift of the garb are charismatic and can move mountains. Spoken words are powerful and can chart or change the destiny of a nation either for good or evil. The tongue is small but powerful. Used inappropriately, it can cause all hell to break loose in a nation. An analogy is found in the Bible: ‘’Behold also the ship, which are driven of fierce winds, yet are they turned about with a very small helm, whitsoever the governor (captain of the ship) listeth. Even so, the tongue is a little member and boasteth great things. Behold how great a matter a little fire kindleth. And the tongue is a fire, a word of iniquity: So is the tongue among members that it defileth the whole body (read nation) and setteth on fire the course of nature (read nation) and it is set on fire of hell’’( James 3 vs 4-6). In an article titled ‘’Sons of Futa Jalon (1)’’, written by the former Minister of Aviation, Femi Fani-Kayode, published in Sunday Sun, March 13, 2016, the following quote was attributed to the late respected and influential Sir Ahmadu Bello, the Saurdana of Sokoto , Premier of Northern Nigeria and one of the founding fathers of Nigeria. : ‘’The new nation called Nigeria should be an estate of our great grandfather, Uthman Dan Fodio. We must ruthlessly prevent a change of power. We use the minorities in the North as willing tools and the South as a conquered territory and never allow them to have control over their future…- Sir Ahmadu Bello, the Saurdana of the Sokoto Caliphate and Premier of Northern Nigeria, Parrot Newspaper, 12th October, 1960, recalled by Tribune, 13th November, 2002.’’ The import of those words credited to the great Sir Ahmadu Bello and reported 12 days after Nigeria’s independence, is that the country was balkanised, and dead on arrival. Those words went forth as spiritual ballistic missiles and shattered the very soul of Nigeria, namely, unity of purpose, and could be one of the major reasons Nigeria has turned out the way it is 55 years down the line- an

agglomeration of mutually suspicious people with one domineering ethnic stock, unfortunate with hypocritical and self-serving leaders whose minds have been blackened, and are ever scrambling for the so called ‘’national cake’’, a paradox of a country, an arrested ‘’giant’’, thirsty in the abundance of water. Leaders as ministers of God are expected to represent Him morally and governmentally through the demonstration of love and enthronement of peace, unity, equity, justice and prosperity. Leaders need to be circumspect when they speak. ‘’Ye have wearied the Lord with your words, yet ye say wherein have we wearied him?’’- (Malachi 2 vs 17). ‘’Thus with your mouth ye have boasteth against me, and have multiplied your words against me: I have heard them. Thus said the Lord God: when the whole earth rejoiceth, I will make thee desolate’’ (Ezekiel 35 vs13-14). The glory of Nigeria has been largely eclipsed for a multitude of reasons, but mainly for a lack of unity of purpose, hypocrisy and nepotism in the leadership. Most of our leaders have a ‘’Frog’’ and ‘’Alligator’’ mentality and posturing. Frog and Alligator symbolise spirits of deceit, covetousness, fraud and stealing which have been the bane of governance in the polity. We operate a callous and destructive political system which ensures the appropriation of the bulk of our collective patrimony to a privileged few through mind-boggling emoluments of public office holders who have no qualms, especially in the legislature. In Nigeria, we lack the wisdom of the ant; our leaders eat our tomorrow today; they are neither proactive nor futuristic, the reason we are presently in dire straits. In Nigeria we have regrettably relegated agriculture to the background because of petro-dollar and failed to realise that tilling the ground is one of the first jobs God gave man to do after his expulsion from the Garden of Eden, which speaks to agriculture as a priority. For us Nigerians, talk is cheap, we are more of talkers than doers, the reason we endlessly organise Economic summits, seminars, workshops and conferences on same topical issues as- ‘’Diversification of the Economy’’, ‘’Backward Integration’’, ‘’Privatisation and Commercialisation’’, “Developing SMEs” (the engines of growth), ‘’Infrastructure

Development.’’ We also set various shifting targets such as ‘’Vision 2012’’, ‘’Vision 20:2020’’ et al, without ever realising the set targets or recording any quantum development, just the same old, sad song. And now the suffering in the land is epochal. Fuel scarcity in a land flowing with crude oil has never been this prolonged and biting with record breaking queues and price hikes at fuel stations, translating to huge losses in man-hours and GDP, the effect of power outages in the face of intense heat wave is excruciating, inflation and unemployment rates have spiked and the misery index has notched higher. Petro-dollar has vanished. It is reality time. In Nigeria there is a lack of order because the country has been grossly violated by our leaders who corrupted the national psyche and still do; many law enforcement agents have become ‘’bad angels’’ and the law is effective only with the poor and lowly. In Nigeria, the sanctity of life is debased; agents of death including the barbaric and ravaging Fulani herdsmen have become footloose and most daring. These are some of the tragedies of Nigeria. Wherein lays the hope? The hope of Nigeria is in the dethronement of the ruling malevolent principality through the enthronement of righteous leadership. The hope of Nigeria is in true federalism. And until the vestiges of the philosophy, which holds one region or ethnic stock superior and another inferior is permanently discredited and abandoned, Nigeria may not realise her full potential and glory. There must be a collective consciousness and willingness by the federating units to come to the table as equal partners without an iota of either superiority or inferiority complex, though tribe and tongue may differ. The hope of Nigeria is in a wise and upward-looking leadership which truly recognises the power of the celestial over the terrestrial, thus the imperative to lead with godly principles, the hope of Nigeria is a conscientious and sacrificial leadership which raises virtues instead of wealth and the mundane in order to entrench morals in the followership, a leadership which creates an enabling environment for the prosperity of the people. Rev Nwobu is a sociologist and public policy analyst

T H I S D AY • WEDNESDAY, MAY 4, 2016

EDITORIAL STEMMING VIOLENT STUDENTS’UNREST

Authorities of our university system should find a way of communicating their policies effectively to their students

he incessant closure of public tertiary institutions due to internal strife has become very disturbing as it reflects not only the level of degeneration in the quality of our students but also the decay in the education sector. Today, three of the so-called first generation universities in Nigeria are under lock and key with their students sent home. These universities are Ibadan, Lagos and Port Harcourt. The case of the University of Port Harcourt was the most tragic. There had been altercations between the university management and the students over a proposed increment in school fees, with the latter insisting that such decision would truncate the educational aspiration of many of them. Matters came to a head when the students took to the streets to protest the increment. As the protest became violent, the police were brought in. At the end of proceedings, two students were dead while property worth millions of naira was destroyed. However, this state of affairs is not restricted to Port Harcourt. A couple of other universities are also under closure over protests by STUDENTS MUST LEARN students complaining about poor facilities, TO VENTILATE THEIR GRIEVANCES IN A CIVIL including such basic MANNER. RECOURSE TO things as water and electricity supplies that VIOLENCE IS USUALLY COUNTERPRODUCTIVE, had become extremely By the time LEADING, SOMETIMES epileptic. the perennial ASUU TO DEATHS, AND THE crisis is added to all DESTRUCTION OF this, it is clear why our EXISTING FACILITIES public universities are lowly rated. While we commiserate with the families of the dead students of the University of Port Harcourt, we think it is unfortunate that the authorities of our university system have been unable to effectively communicate their policies to their students, without the habitual risk of violent resistance that sometimes leads to fatal outcomes. Obviously, the general downturn in the economy has

Letters to the Editor

affected the funding of the nation’s institutions of learning at all levels, forcing them to look inwards for other sources of revenue, including payment of fees. Students have consistently opposed this because many of them are in such schools precisely because their parents could not afford the exorbitant cost of private institutions. More annoying to students is the fact that the introduction of fees on the basis of the need to augment government funding for improved infrastructure has not been justified as the quality of teaching and learning has declined. Basic facilities like electricity and water supplies have also increasingly deteriorated so much so that the worsening conditions of learning have become so manifest for everyone, except the management of the institutions, to see.

T T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITOR BOlAJI ADEBIYI MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAfE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, EMMANUEl EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, fIDElIS ElEMA, MBAYIlAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD fEMI TOlUfASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

REASONS TO DUMP GOVERNMENT

ne. Government has always been lazy. Though John Kennedy’s magnus opus: “ask not what your country can do for you, ask what you can do for your country” was intended to redefine government as a national exchange of ideas, it has inadvertently become the ground on which lazy politicians stand. Today, government is ready to wash her hands off every duty. Name it: NITEL, PHCN, Nigerian Railway Corporation, NTA, Nigerian Airways, Nigerian Paper Mills, NNPC, NIPOST, Unity Schools and perhaps the Nigeria Police Force. At which point they will be in charge of nothing but collect taxes? Two. We found alternatives for government since 1976. When Murtala Muhammad carried out the mass civil service purge of 1976, we learnt to always have an alternative for everything. Those who had nine–five jobs, reared side businesses. For every government house we were allocated, we built ours. When water supply failed, we dug boreholes. When power supply became epileptic, we installed generators and when rail projects derailed, ‘luxurious’ buses came to our rescue. In short, we found ways to be resilient, to be adaptable and to be our own government. We gradually became government. Three. Government is now broke Now that 28 state governments cannot afford to pay salaries and the federal government is set to run a huge budget deficit of N2.2 trillion, we have reasons to look in

o this extent, agitations against fees increment and deplorable conditions of living and learning in tertiary institutions are understandable and those saddled with the duty of administering these schools must bear full responsibility for the lapses that have provoked the students to protest. However, students in public tertiary institutions must also wean themselves of the unhelpful culture of entitlement by which they believe they would not pay anything for their education. The reality of the moment does not support such predisposition. Besides, no matter the level of provocation, students must learn to ventilate their grievances in a civil manner. Recourse to violence is usually counterproductive, leading, sometimes to deaths, and the destruction of existing facilities and infrastructure, while insufficiency is the object of their protest. Is it not ironical, therefore, that students will in anger destroy even those few facilities already provided for their own use? That sort of madness should not continue. Going forward, we ask the administrators of our tertiary institutions to device a more effective strategy for communicating their policies to the students in order to stem the incessant unrest on our campuses. It is certainly unacceptable that in this age and time, violent student protest is still a major feature of our higher institutions. This must stop.

other directions: Bill Gates funding the eradication of polio, Dangote and Co. bankrolling the private sector health alliance because NHIS has failed, and public –private partnership becoming the go-to- model for financing a chunk of public projects in Lagos. Government can no longer cater to all our needs. They always need to borrow or partner with the private sector. Four. Nigeria can’t afford government We elected the president and vice -president to: feed them with N500 million, buy them BMW cars worth N3.63 billion, take care of their health with N3.87 billion and fund their air fleet with N5 billion. We hand N24 million monthly to 469 parliamentarians only for them to pass less than 100 bills per year. They seek our votes in exchange for privacy in tinted bulletproof cars, leaving us in traffic and unleashing the Police (which we also fund) on us. We replicate this madness at the centre by voting across 36 states and 774 local governments: governors with commissioners and state Houses of Assembly, local government chairs with councillors and supervisors. All of their salaries run non-stop while the average worker is unpaid. Worse still, because we badly want to be like America, we elect one party to make policies for four years only to have same thwarted by another for the next four years. We lose time, we lose money and we never meet up with the pace of those we copy: America, Britain or China.

Baba Oladeji N E Marina, Lagos

KADUNA POLYTECHNIC: IT IS UNFAIR

was disappointed after reading the circular issued by the management of Kaduna Polytechnic ordering students to vacate their hostels on or before April 25, 2016. According to the management, the order became necessary because they wanted to use students’ hostels as accommodation for delegates who were coming for the Nigerian Polytechnics Senior Staff Games (NIPSSGA). Meanwhile, the time given for the students to vacate the hostels was very short and at the same time, some of the students were still doing their semester examinations. The management did not remember that some students are from outside the state and would not be able to meet the deadline. At first, students thought there was a mistake in the circular, looking at the short time given to them to vacate their hostels. But after the confirmation from the management by the

Students’ Union Government, it was shocking the information contained in the circular must be obeyed. This action which has caused untold hardship for most of the students who do not reside within the state and others who do not have the financial means to pack out their belongings as instructed, shouldn’t have been taken in the first place. Even with much appeal from members of the Students’ Union Government, the school authorities could not reverse their decision until when the issue was about turning into protest. The students were given just two floors out of the eight halls in the female hostel to pack in until the games are over. This action by the school authorities is unfair. The new rooms given to students were without mattresses, and that has clearly shown that the management wants students to sleep on the floor like animal. Ifeoma Nmeregini, Nyanya, Abuja

WEDNESDAY MAY 4, 2016 T H I S D AY

T H I S D AY • WEDNESDAY, MAY 4,, 2016

MIDWEEKPOLITICS

Group Politics Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com 08116759819 SMS ONLY

THE NEWSMAKER

Bello: Tackling the Kogi Challenge Kogi State Governor, Alhaji Yahaya Bello, has begun to take conscious steps towards addressing the challenges of the state, starting with the May Day celebrations, writes Yekini Jimoh

Since Kogi State Governor, Alhaji Yahaya Bello assumed office, last Sunday marked the first time he met with workers in the state as part of activities marking this year’s May Day celebrations. As the number one citizen of the state, workers were eager to hear many things from, especially the issue of salaries that was yet to be paid, the bailout funds as well as the just concluded screening of workers in the state, amongst other things. The governor too however took his time to enlighten the workers on the issues as they affect the state. He said an ideal workforce is the one in which workers are consistently improving in skills and salaries, adding that it was one in which the operating environment allocates dignity to human beings and rewards merit. He said it was his aspiration to build that ideal workforce in Kogi State. “However, reality shows we have a lot of work to do”. Bello pointed out that his administration inherited a state in which unpaid salaries and general atrocious working conditions were the norm. “All sorts of tricks were devised by previous administrations to short-change the Kogi State Worker. The worst is, of course, the scourge of ghost-workers. Thousands of non-existent ‘workers’ paid from Kogi State coffers, thus bringing it under undue strain and leaving the real workers either totally unpaid or only receiving meagre percentages of their wages “I am a former federal civil servant. I was never owed salaries during my time in service. When we came into office, Kogi workers were already on strike for at least 6 weeks, fed up with the then PDP government’s kleptomania, lack of transparency and disastrous policies. It hurts me that a so-called government could receive all the federal allocations due to it and still finds the heart to leave workers unpaid,” he lamented. He said his administration would be different and remains committed to improving the lot of workers by eliminating every scheme in the system designed to exploit and cheat. He said

Your government in Kogi State is running with a four-year Plan, a blueprint for accelerated development of the state in all areas and socioeconomic indices within this current term of office. We are focused on this one term…Those going around scheming against 2019 should therefore leave us alone. We are not open to distractions at any time. Like power, 2019 and beyond lie in the hands of God. I trust that when the time comes, God and the great people of Kogi will decide who will lead this state further

Bello...getting down to brass tacks

the ghost-worker syndrome was an evil his administration was committed to eradicating forever. “The first line is the Screening Committee we set up soon after our Inauguration, led by Brigadier-General Paul Okuntimo (Rtd). General Okuntimo is a fine officer and an incorruptible gentleman. The Screening Committee is scheduled to conclude her work within the next one week and we shall thereafter expect to have only genuine workers on our payroll “No more will people sit in Pay Offices and fabricate thousands of names, add them to the nominal roll and siphon Kogi State resources with them on a monthly basis. No more will people sit down in Lagos, Abuja, even abroad, and receive bank alerts for salaries from the Kogi State Government,” he stated. The governor also pointed out that Kogi would no more pay salaries to ghost-workers, who are ‘serving’ in non-existing institutions discovered all over the state by the Screening Committee. His words: “We are dismantling all of that satanic infrastructure. Our people will no longer be robbed. On this workers’ day, I must also seize opportunity to sound a timely warning to every genuine worker in the Kogi State Civil Service: ‘ensure that you are screened’. If the Screening Committee has somehow missed you, seek them out and do the needful “Once the screening exercise is done, we will only be paying salaries to workers, who have gone through the process. If you miss this train, you will have only yourself to blame.” The governor said he wanted the support of

Organised Labour on this, especially the leadership as it was for the overall benefit of their members. He also disclosed that the situation in the recent past, where some labour leaders opposed the screening exercise under the guise of the interests of their members is, to say the least, suspicious and unacceptable. He informed that government had also been inundated with allegations of collusion between some labour executives and the past administrations in cheating the very workers they represent through corrupt practices. “We will of course investigate and anyone found culpable will have a date with the Anticorruption Agencies. We are cooking something nice for Kogi People. I know the kitchen is getting hot but I promise you that there will be no sacred cows. Let those, who cannot stand the heat get out of the kitchen! Masu gudu, su gudu. The guilty are afraid. Evildoers may run, but they cannot hide,” he warned. He noted that a cardinal principle on which his administration operates was based on transparency and open communications, adding that they had received four federal allocations since his assumption of Office in January, 2016, out of which he paid full salaries for January and March. On the issue of the bailout, which has just been approved by CBN, he said his administration was aware that almost as soon as they were sworn in, some mischievous persons serving evil interests both within and without Kogi State fed the media with rumours that they had accessed and frittered away the bailout funds.

“The reality we met on the ground at the CBN was that the previous application made on behalf of the state by the last administration was fraught with irregularities and shoddily done. In a word, it was so badly done it could never be approved. We had to start from scratch “We are glad to announce that our efforts have paid off. This week we received approval to draw down on the first tranche of our bailout funds from the federal government. This will amount to about N20bn. We will draw down on the balance of about N30bn as we meet the milestones for implementation of the first tranche as set by the Central Bank of Nigeria “I also announced a commitment to use that money for salaries and emoluments of our workers. I am certain that by the time we fully disburse the bailout funds, disputes over outstanding emoluments will be over”. Accordingly, he said the main blueprint which identifies planned developmental strides every year of the four-year term will soon be ready too. “Your government in Kogi State is running with a four-year Plan, a blueprint for accelerated development of the state in all areas and socio-economic indices within this current term of office. We are focused on this one term. “Those going around scheming against 2019 should therefore leave us alone. We are not open to distractions at any time. Like power, 2019 and beyond lie in the hands of God. I trust that when the time comes, God and the great people of Kogi will decide who will lead this state further,” he said.

T H I S D AY • WEDNESDAY, MAY 4,, 2016

RIGHT OF REPLY

MIDWEEKPOLITICS

Osoba’s Place in Ogun Politics Nothing can undo the place of former Governor Olusegun Osoba in Ogun State politics, writes Olatunde Sodeke

ast week, a non-existent Sarah Olabimtan was granted a generous space in the THISDAY edition of Wednesday, April 27, where she wallowed in her folly. She feigned a very good knowledge of Ogun politics and by extension, the South-west. She started by playing to the gallery, singing the praises of some persons she elected to acknowledge and ended up rubbing it in on Chief Olusegun Osoba, a former governor of Ogun State at two different times with unchallengeable record as the living godfather of the state’s politics, whether in terms of administration, delivering on promises or the management of people, either in politics or other spheres of life. Osoba is a complete administrator of all seasons. Perhaps, this response would have been needless had Sarah not attempted to undo the place of Chief Osoba in the annals of the state’s body polity. Like many before it, it would have been better dismissed as the ranting of a fellow high on the stipends of her pay master. Besides, the name Olabimtan is a prominent one from the Ilaro part of the state. Thus, an attempt to want to seek recognition by rubbishing someone else’s name built on goodwill, honesty and sincerity further called for this intervention, albeit in a most civilised and sane fashion. Now, let’s go straight to business. This intervention is intended to address the misinformation that fraught the Sarah Olabimtan article on the recent meeting of some leaders of the All Progressives Congress (APC), at the Ikoyi residence of Chief Osoba, which in her ignorance, was termed the reconciliation of Ogun APC gladiators and went on to justify why the intervention failed since it did not take into account, people she reckoned were the main characters in the crisis of the APC in the state. For the record, the meeting of April 3, 2016, had nothing to do with whatever is assumed to be happening in Ogun State in her wildest imagination. The meeting was a mere formality to tell the world that the Yoruba leadership in South-west is back together as one. Before that day, there had been a lot of personal contacts amongst the leadership. Indeed, at the end of last Ramadan, as a corollary to this, former Lagos State governor, Senator Bola Tinubu drove straight from the eid to Chief Osoba’s residence in Ikoyi. Of course, it is common knowledge that Chief Osoba and Asiwaju Tinubu have had their frosty relationship over political strategy. Thus, on that day, Asiwaju Tinubu visited Chief Osoba, alluding to Islamic teachings that the 30 days of fasting usually dwell on penitence and purity and therefore, they must put the past behind them. That day, they had both settled their personal animosity and what was left was the politics of it, which had greatly affected the Southwest leadership in general, and that too, was resolved on April 3, in collective interest. Maybe for the record too, I can touch briefly on what caused the differences between them. In the lead up to the formation of APC, Chief Osoba had canvassed the need for the South-west APC to negotiate concretely for the zone within the collective body. But Tinubu thought differently and wanted everything to evolve naturally since the party was just coming up, especially that such disposition could be suspicious. But Osoba wanted a clear understanding of what was in the merger and structure of the party for the zone. Indeed, the January 9, 2015 crisis in Ogun was contingent to that matter. What you get today, as a result of that, is that no party leader is strongly involved in the activation of government policies, which has always been the standard in any ideal party as an association. The implication of ignoring such a strategic and standard

Osoba...his place not up for debate

practice by a ruling party is the crisis we are witnessing today in the APC. The Senate leadership crisis would not have arisen at all, the same way the embarrassment created by the budget crisis would have been cleaned up in-house, if there was an effective and functional structure. Osoba was right after all. Realising this for a fact, the leaders of the South-west met and agreed to start with house-clearing. The initiative of the April 3, meeting was basically to start helping the government and the party as a critical duo in delivering on the change agenda. This is because the South-west leaders had already seen the danger in the Executive/Legislative crisis. Thus, the meeting was purely that of the party in the South-west and the government because if care is not taken, the Senate Presidency is up for taking by the PDP. No Jupiter can change that should the party and government mismanage the present crisis in the Senate. To the issue of Chief Osoba’s nonpopularity as propounded by Sarah Olabimtan, since according to her, the outcome

If they insist Chief Osoba has no political value still, it is good to wait and see that replay itself in the next election. What is certain is that these two factors that shaped the 2015 elections would no longer be present and then, we would be in a position to truly measure the strength of everyone in the state’s politics

of the 2015 election was an indication that Chief Osoba’s place in Ogun politics was practically non-existent. The truth about the last election was that two main factors were responsible. One, the “Jonathan Must Go” factor and two, the “Buhari Bandwagon”, both of which shaped the outcome of the election in practically everywhere, safe for the South-south and South-east that were impregnable, somewhat. Everyone who matters in the country, the business community especially saw the handwriting and gave lifeline to the Buhari movement. It had nothing to do with Chief Osoba’s popularity or none of it. But if they insist Chief Osoba has no political value still, it is good to wait and see that replay itself in the next election. What is certain is that these two factors that shaped the 2015 elections would no longer be present and then, we would be in a position to truly measure the strength of everyone in the state’s politics. As a journalist, not many people have his kind of tentacles, much less as a governor. But Chief Osoba has said at different times and occasions that he was not interested in any office, what therefore is the problem of these people, who yet see him as nobody in the state. He neither wants to be national chairman nor BoT chairman. In fact, he has told his people to steer clear of the party offices in the state and let “those who own the party run their show”. What more do they want? What really are they afraid of? But Sarah and co should not forget so soon that the same people she condemned for coming together without “her preferred gladiators” produced Senator Ibikunle Amosun as governor in 2011. She alluded to some traditional rulers she claimed had begged Chief Osoba not to go but left regardless. What she did not know is that the same traditional rulers did not relent in their effort to get Chief Osoba back to the party and eventually, they had their way. It is also the same way the Awujale, Oba Sikiru Adetona intervened in the matter on January 22, 2014. Sarah should stop exposing her folly and zero knowledge of what

she knows nothing about. Sarah claimed Governor Amosun was the one funding the party and yet, Chief Osoba wanted to control the party. I challenge the governor to come out to tell the world those, who funded his election in 2011 and say how much he put into his own election. Interestingly, this is the part he detests to talk about. For emphasis, that election cost the party a little over 800 million naira and Governor Amosun contributed only 75 million naira in his own election that cost over 800 million. Chief Osoba single-handedly put in 500 million in the same election – an election in which he did not seek an office. In fact, the second highest donor was a presidential running mate from the state and not the direct beneficiary himself. On the allegation of evicting the party from his structure in the state, that is true, at least to the best of my knowledge. But that happened over disagreement on a matter of interest. The governor wanted to come back for a second term and refused to allow other National Assembly members, which was the peace term of Chief Osoba. The governor only granted Chief Osoba’s son, Hon. Olumide the right to return but the young man too turned it down because it was selective and lacked justice to the other members of the team. The talk about dishing out to Chief Osoba and others, the kind of treatment they also meted out to Afenifere leaders is an impression existing only in the minds of those, who conceived and are still selling it. Sarah may choose to ask to enrich her knowledge. Till Adesanya died, Chief Osoba was the only one that visited him regularly. And till tomorrow, Chief Osoba, Chief Olaniwun Ajayi and Chief Ayo Adebanjo still have a very cordial relationship, even though they disagree publicly sometimes. This is why it is gladdening to many of those who admire the position of Chief Osoba in the politics of the state, zone and nation that despite spinning the falsehood that he had teamed up with former President Goodluck Jonathan in 2015, an assumption Sarah too referenced in her jaundiced article, the entire conspiracy theory had blown in their faces now as his name has not featured in any of the corruption mess flying about. In case they do not know, Osoba and Col. Sambo Dasuki have been close friends for many years, when the latter was ADC to former military president, General Ibrahim Babangida. He also shares similar relationship with Chief Tony Anenih and yet, did not abuse his friendship. It is important to note that President Jonathan actually made effort to reach Chief Osoba, especially through some of these people, but Chief Osoba declined all the entreaties on the grounds of principle. So, this story about Jonathan was no other but part of the blackmail that refused to fly. Chief Osoba has been relating to past leaders since the days of Alhaji Tafawa Balewa and they all knew and related with him on first name basis. When you now link such a meeting to 2019 in 2016, is something not utterly wrong with such thinking? The present government is barely a year in office with all its challenges and yet, should anyone be talking about 2019? That’s absolute baloney! What for? Is it that Chief Osoba wants to be president? Let’s not forget that it was the same story that former Governor Gbenga Daniel brandished that Chief Osoba had been finished politically? We can’t but wait to see what happens next. What is however sacrosanct is that Chief Osoba’s clout transcends Ogun politics by all standards and the earlier these idlers get this into their head, the better. -Sodeke wrote from Abeokuta, Ogun State

T H I S D AY • WEDNESDAY, MAY 4,, 2016

PERSPECTIVE

MIDWEEKPOLITICS

An Eyewitness Report on Saraki’s Trial Tope Ajayi gives an account of his experience for one day during the trail of Senate President Bukola Saraki at the Code of Conduct Tribunal

Umar...posterity on his watch

finally made out time to attend the ongoing trial of the Senate President, Dr. Abubakar Bukola Saraki at the Code of Conduct Tribunal in Jabi area of Abuja this past Wednesday. I wanted to watch the proceedings myself and gauge whether the allegations of bias against the Tribunal Chairman, Mr. Danladi Umar carry any weight. My discovery was truly shocking. In that court, the scale of justice does not appear even. It is heavily tilted against Dr. Saraki. There were two issues before the tribunal for the day. The first was the request by the Counsel to Saraki, Ajibola Oluyede for the Tribunal Chairman, Mr. Umar to recuse himself from the case due to likelihood of bias because of his curious relationship with the Economic and Financial Crimes Commission (EFCC), which until a while back, investigated him for corruption. The other was the cross-examination of Michael Wetkas, a prosecution witness from the EFCC by the Defence. Umar was cheerful and exchanged banters with all the counsel before him that Wednesday. People around me appeared shocked; a man sitting close by volunteered it was the most cheerful he had seen of him ever. Back to the business of the day: Oluyede moved the motion that Umar should disqualify himself from the case because the EFCC which is practically prosecuting the case also had an outstanding issue with him. He argued that the letter which purportedly cleared Umar could not be considered a clearance. A little background on the matter: In 2012, petition was sent to the EFCC by Rasheed Taiwo, a retired Customs official, who claimed to have been pressured through persistent phone calls by Mr. Umar for a 10 million bribe. Although Mr. Umar denied the allegation, his personal Assistant, Gambo Abdullahi, was found to have received a 1.8 million deposit in his Zenith Bank account from Mr. Taiwo. The suspicion was that the said PA acted as a conduit for his boss,

Umar. After investigating the matter, the EFCC wrote to the former Secretary to the Government, stating that: “There are indications that the Tribunal Chairman might have demanded and collected money from the complainant through his said Personal Assistant. However, efforts made to recover the telephone handset used by Justice Umar proved abortive, as he claimed that he had lost the telephone in 2012. “This has made it impossible to subject it to independent scientific analysis with a view to corroborating the allegation. In the same vein, the complainant could also not make available his telephone set for analysis on the grounds that he had lost it. Justice Umar also admitted that he met privately with the complainant in his chamber at the

In my layman understanding of the judiciary, judges should be people of honour, sober and emotionally stable… This judge was not sober and issued threats as if they were pan cakes. But if that were all, it would not have raised a red flag for me. Judges are, after all, humans and can be vexed. It was Justice Umar’s comments when ruling on the motion by Oluyede that showed his bias and made me give up on him as a neutral and fair referee of the matter at hand

Tribunal. This is a most unethical and highly suspicious conduct on his part.” However, the EFCC concluded that there was not enough evidence to charge Umar as “the facts as they are now against Justice Umar raised a mere suspicion and will therefore not be sufficient to successfully prosecute him for the offence.” Oluyede’s argument was that the letter does not constitute clearance since nowhere in its content did it exonerate Umar, only stating that for the material time, there were not enough facts to prosecute him. “But that may change later,” he said. The prosecution counsel, Rotimi Jacobs (SAN) argued in the opposite direction that the letter constituted exoneration and that Umar should go ahead with the trial since he had not been charged before any court, not to talk of being found guilty of any crime. It was an interesting exchange, as should be expected of opposing counsel. But my concern was the judge, Umar. His body language and comments clearly showed an obvious bias and antagonism towards the defence, and suggested collusion with the prosecution to achieve a predetermined end. After the niceties at the beginning of the proceedings on that fateful Wednesday, Umar reverted to his old angry, and emotional self. He threatened to jail Oluyede, one of Saraki’s lawyers, for his passion in pleading the motion that Umar should disqualify himself from the case. This led to an emotional outburst from the judge, followed by the threat of jail. In my layman understanding of the judiciary, judges should be people of honour, sober and emotionally stable. This judge was not sober and issued threats as if they were pan cakes. But if that were all, it would not have raised a red flag for me. Judges are, after all, humans and can be vexed. It was Justice Umar’s comments when ruling on the motion by Oluyede that showed his bias and made me give up on him as a neutral and fair referee of the

matter at hand. Oluyede’s motion sought to disqualify Umar from the trial, stopping him from further hearing the case based on the reasons stated above. In considering ruling on it, Justice Umar made a Freudian slip and said, “shall we decide on this ruling now in my chamber and continue with the cross examination later?” What this suggests is that the judge had made up his mind to dismiss the motion even before carefully considering all the facts before him. If not, he would have known that the success of the motion, which should be a possibility with a fair-minded judge, would have foreclosed his further handling of the case. It was therefore no surprise when he dismissed the motion the next day. What I personally observed that day corroborated the reports of likely bias by Umar. The recent complaints had come from unlikely quarters – former Supreme Court justices and legal luminaries. Justice Samson Uwaifo captured it better when he said, “It is now open secret that the power behind the ruling Party APC did not back (the Senate President) for that office. It is fair to see a connection between that circumstance and the Code of Conduct matter. “There is the rumour that the Chairman of the Code of Conduct Tribunal has an alleged crime hanging over him, which might give the impression that he may be willing to act as the hatchet-man over Saraki to save himself from the prospect of the alleged crime not seeing the light of day by way of prosecution.” I believe a judge does not have to force himself to hear a case, especially when one of the parties feel strongly that there is a huge likelihood of bias, except he has a special interest in the matter. Now, no judgment from the court would be deemed to be fair, which defeats the aim of justice which should not only be done but manifestly seen to be done. -Ajayi writes from Lagos

WEDNESDAY, MAY 4, 2016 • T H I S D AY

FEATURES

Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com

Kaduna’s Controversial Religious Preaching Bill John Shiklam writes on the recent roundtable held by stakeholders in Kaduna on the controversial Religious Preaching Bill being promoted by the Kaduna State Government

Director General, Interfaith, Alhaji Namadi Musa (middle), at the roundtable in Kaduna

he controversial Religious Preaching Bill before the Kaduna State House of Assembly, was the topic for discussion at a roundtable organised by Carefronting Nigeria, a Non Governmental Organisation (NGO) based in Kaduna. Tagged: ‘The Kaduna State Religious Preaching Bill; Intentions, Fears and Perceptions’, stakeholders, including Christians and Muslims leaders, lawyers, government officials and some civil society organisations engaged in discussions on the bill which has attracted criticisms, condemnation as well as applause and commendations within and outside Kaduna State. The bill, in a nutshell seeks to regulate the activities of Muslim and Christian preachers by issuing licenses to Kaduna State-based preachers while visiting preachers are to be given permits. The bill also prohibits the use of loud speakers in churches and mosques after 8:00 pm. Coordinator of the NGO, Mr. Maji Peterx, in his opening remarks explained that the meeting was aimed at providing a forum for stakeholders to discuss issues and challenges arising from the bill. Moderator of the roundtable, Mr. Emmanuel Zwahu, while setting the tone for deliberations, threw some posers: "If indeed this is a democracy, is the bill a democratic one? Whatever the actions of the government, is it not to serve the people that elected them into office? Why has the government not address the fears of the people as regards the bill by putting together a forum for the people to discuss? What is government intention on the bill?" This was the question thrown to the spokesman of Governor Nasir el-Rufai, Mr. Samuel Aruwan who was among four government officials that attended the programme. According to Aruwan, the bill was aimed at ensuring peaceful coexistence in Kaduba State, adding that the governor has no intention of stopping people from practicing their religion. The bill, according to Aruwan, is an amendment of an edict enacted during the military since 1984 which was later amended in 1986 with the aim of checking religious extremism. Aruwan explained further that what the government is trying to do, is to substitute the edict by amending some provisions. He said one of the priorities of the state government is security, pointing out that Kaduna residents are divided along religious lines as a

result of religious conflicts in the past. "There is nothing in the bill that stops Christians and Muslims from practicing their religions. The intention of government is to prevent religious extremism, hate speech and promote tolerance, peace and stability". He said government was taking note of observations and criticisms of the bill. Aruwan, however, regretted that there are political manipulations and exaggerations on the issues in the bill, stressing that the governor means well with the bill. Giving an insight on how the bill came about, the Director General, Kaduna State Interfaith agency, Alhaji Namadi Musa, painted two scenarios which are prevalent in the state. He narrated the story of a church in Mando area of Kaduna where its activities were becoming a nuisance to some residents as well as a mosque in Zaria which some residents complained about. "The owner of the church operates the way he wants, by beating his drums both day and night, preventing people from sleeping at night." Musa said the matter became serious and the police had to be invited along with community leaders in the area to settle the issue. "During our meeting with them, all other residents of the area believe that the pastor was doing the right thing because he has been doing it for 20 years and nobody complained and wondered why somebody just coming to the community would complain. He stated further that "In Gyellesu, Zaria

To the best of my knowledge, democracy is government of the people by the people and for the people. If the people that you are governing, both Muslims and Christians are saying no to this bill, is it not good enough for the governor or whoever that is concerned to sit back and think over the bill

there is one mosque behind the Federal College of Education (FCE) Zaria, whereby one Mallam will open the mosque at 12 midnight and put a cassette and increased the volume very loud and close the mosque and go to sleep. "He has been doing that for a long time. One Benjamin Katuka, a lecturer in the FCE who lives close to the mosque called me and pleaded with me to help him get a house to relocate from that area as a result of the constant noise. "How can you come and put a cassette in the mosque, close the place and go to sleep? Who are you preaching to? I personally went and met the person doing that. "The man said he has been playing the cassette in the mosque for years and the lecturer who just came recently to the area has no right to stop him. "I told him that where his right ends, is where another person's right starts. I told him that the man has right not to be disturbed too. These are some of the few cases that came to the state government. "The governor asked us whether there is no law stopping such practices. We told him that there is a law, but it was enacted by the military which prescribed five years imprisonment without option of fine. "We told him the first of such law by the military which was in 1984 prescribed two years imprisonment with an option of N1000. He said there is the need to amend. "I went to the Christian Association of Nigeria (CAN) and the Jama'atu Nasril Islam and got copies of the edicts. The governor sent it to the ministry of justice and propose areas for amendment. I even thought that before the bill gets to the House of Assembly, it was going to come to my office for me to go round and solicit and consult. I just saw a written invitation from the house for a discussion on the bill. "I informed the Secretary to the State Government (SSG) about the development. I told him that there was the need for us to go round the state to talk to people, intimate the clerics and Ulamas about the bill so that they can make an input. I said the bill is supposed to have public hearing". According to him, there was consultations with the Kaduna State chapter of the Christian Association of Nigeria (CAN) and the Jama'atu Nasril Ismam (JNI ). "We went round the three senatorial zones with the secretary of CAN and that of JNI.

"We went to Kafanchan, Zaria and Kaduna and met with both Islamic and Christian clerics to intimate them about the bill which require inputs and there was the need for them to get prepared. I had to use my office to translate it in Hausa language" the Interfaith DG said, pointing out that it was during the tour that people got to know about the bill. He regretted that some people were very ignorant about the bill, stressing that stakeholders should either help in correcting or repeal it. "If we are not able to correct the bill, the state government will have no option than to use the old existing law. There is complete ignorance of how the bill is going to be operated. Government intension is to ensure peace and stability across the state and promote harmonious relationship among all religious groups. So I am appealing to people to look at the bill critically, remove anything portion they don’t want and add anything they want to add so that at the end of the day, the bill will be ours. We are very happy about the agitation. We are happy that everybody is aware of the bill. We want to have peoples’ bill and peoples’ law," Musa said. However, in his submission, the Kaduna State CAN secretary, Rev. Sunday Ibrahim faulted the Musa on the issue of consultations with stakeholders maintaining that the issue of the bill was not brought for discussion during the meetings in the senatorial zones as claimed by the DG. “Let me ask these questions: Was there any time the 1984 laws were enforced? Is it true that during the campaign of the Governor of Kaduna State, he told the people at different fora that he had nothing to do with religion? "To the best of my knowledge, democracy is government of the people by the people and for the people. If the people that you are governing, both Muslims and Christians are saying no to this bill, is it not good enough for the governor or whoever that is concerned to sit back and think over the bill." Ibrahim said further that as far as CAN was concerned, for every church or ministry that exist, has been registered by the Corporate Affairs Commission (CAC). "We license our ministers by ordaining them, why will the state government license some one that has been license by the federal government? He noted that the way the bill defines a preacher, is not correct from a Christian

WEDNESDAY, MAY 4, 2016 â&#x20AC;˘ T H I S D AY

FEATURES

perspective. "You are saying a preacher is someone duly license by JNI or CAN. Jesus clearly told us to go into the world and preach the gospel. You saying that whosoever violates the law if the bill is passed, will be summarily prosecuted. You did not define which court will prosecute Christians. You are talking of religious bodies and you are bringing DSS and police," he noted. Also looking at the bill from a legal perspective, the secretary of the Kaduna State chapter of Christian Lawyers Fellowship of Nigeria (CLASFON), Mr. Kalu Paul Ifeanyichikwu, said most sections of the bill are unconstitutional. "We are not looking at it from the position of the Bible, what we are saying is that sections 2, 3 and 5 of the bill are unconstitutional. Those provisions are talking about regulating association of bodies that are already registered". According to him, CAN and JNI are associations registered under the Company and Allied Matters Act (CAMA) and therefore cannot regulate religious activities. There is nothing in their constitutions that says they can regulate religious preaching. Ifeanyichikwu maintained further that the constitution provides that no Nigerian of any community should be discriminated against by reason of belonging to a religion, a society or his birth or whatever. He said "Any law by any state or anybody, claiming to regulate or be enforced upon a section of Nigerians that is not applicable to the generality of Nigerians is null and void. "The Supreme Court has made a pronouncement on it. In Lagos state, the state government was purported to have a law that will regulate the people of Lagos by restricting their movements, the Supreme Court said it is wrong because it does not apply to the generality of Nigerians. "We dare to say that in South Africa, the United States of America, even in Egypt where religion is regulated, it is a federal natter, so that it will be upon each and every member," he argued. "As a body, the Christian lawyers oppose this bill, not for anything but for the fact that the letters and intent are contrary to the 1999 Constitution as amended. We dare say if it is passed, it is liable to be struck down by a court of law," he said. However, in his contribution a representative of the Global Council Trustees of the United Religions Initiative, Mr. Elisha Buba Yero, said that religious leaders were in a better position to handle issues about peace. "It is better to leave things pertaining to peace and harmony to stakeholders, they will give government relevant guidance as to what to do" he said. While applauding the government's concern for peace and stability, Yero recalled that the 2002 Kaduna peace accord was worked out by both Christians and Muslims religious leaders, stressing government ought to have allowed stakeholders to find solutions to peace rather than coming with a law. "After signing that peace accord, we didn't have any crisis in Kaduna until 2011. It was not the governor that said this is the law, it was stakeholders that were given the chance to sit down and work out how peace and harmony could be maintained. "Therefore, it is significant to me in my opinion, that as good as government's intention of maintaining peace and religious harmony, you get better result when government does not involve itself directly or too personal. "Today we should be thinking of global good practices, the global good practices are encouraging more dialogue than laws. Laws will break you, laws will make you go home sad, but if you go through dialogue, you are going to be a happy person. â&#x20AC;&#x153;If you put the governor to do this, you are going to make the implementation problematic. Who are the executors of the laws? The stakeholders are in the best position to implement the law," Yero argued. Sani Mohammed, from Interfaith Mediation Centre, Kaduna noted that the bill there was a lot of misgivings about the bill within and outside Kaduna, saying that it was good that people meet and discuss it. "I think that the government got it wrong. Even though the bill has good intention but the process that was involved in developing it is really problematic. I don't want to dwell on the legality of the bill, we should look at the morality of the bill. Will this bill bring about peace and harmony in Kaduna? That should

A cross section of participants at the roundtable

Participants at the roundtable

El-Rufai

be our focus.The government must not rush to pass this bill. It should reach out to the people to make input," he said. Also commenting, Hassan Abubakar Alfa, from Alfa Care organisation noted that many people don't understand the content of the bill because of lack of awareness. "Some people think that it is already a law. Whether the state government like it or not, there was no wide consultation that is why people are reacting the way they are doing. The bill

should have come from the people, not from executive bill. People see bills by government as imposition," he said. In its submission, the JIN declared for bill, insisting that there is no religion that has no regulation. Represented by Mohammed Abubakar Gafai, the JNI said bill can be amended to suit the present condition and control quack preachers in Islam and Christianity. "For the information of all and sundry, the particular clause that everybody is afraid of, JNI

is the pioneer in licensing Muslim preachers since 1950s. These licenses are in categories. When previous governments and recent ones that did not adopt that system, it brought about quack and illegal Umma that are causing all the crises. The JNI is in support of all laws that will guide against inhuman activities," he said. In his concluding remarks, the DG Interfaith assured that stakeholders would be consulted with a view to providing them the opportunity to make input on the bill. "If consultation is the problem, we will make consultations so much that people will believe that we have consulted. If after consultations, some reasons are brought that this bill should not pass, we will pray that God in his ultimate mercy others ways that will ensure peace in Kaduna State," Musa said In a communique issued at the end of the discussions, participants accused the state government of not consulting them before presenting the bill to the State House of Assembly. It noted further that the bill was built on a faulty foundations having been enacted by a previous military regime and so cannot be considered an Executive Bill. According to the communique if the bill is passed into law will, it will infringe on the fundamental rights of Nigerians as enshrined in the constitution. Many of the stakeholders, according to the communique, doubted the practicability of the implementation of the law bearing in mind the very volatile nature of religion in the state, adding that the state government has not done enough to clear the doubts and misgivings about the bill. The communique called on the government to embark on more sensitisation of people about the bill in order to create awareness on governmentâ&#x20AC;&#x2122;s real intention.

IMAGES

Ogun State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru (left)and Chief Operation Officer, Tony Elumelu Foundation, Abimbola Adebakin during a courtesy visit by the foundation to the Commissioner in Abeokuta...recently

T H I S D AY • WEDNESDAY, MAY 4., 2016

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Managing Director/CEO, Asset Management Company of Nigeria (AMCON), Mr. Ahmed Kuru; Cross River State Governor, Prof. Ben Ayade and Managing Director, Ponet Engineering, Mr. Wolfgang Hans, inside one of the coaches during the maiden ride aboard Calabar Monorail in Calabar...recently

L-R: Former Deputy Governor of Lagos State, Alhaja Sinatu Ojikutu; Chief Host/National President, ANSARUL Islam Society of Nigeria (Lagos State Resident Council), Alhaji Suleimon Afolabi and National Secreatary of the Society, Alhaji Abdulrauf Amao; at the 10th memorial lecture of the Society in honour of the Founder in Lagos..recently

L-R ; Abia State NLC President, Uchenna Obigwe; Head of Service, Abia state, Vivian Uma; Abia State Governor, Dr. Okezie Ikpeazu; Chairman of the occasion, Nwaigwe Solomon Nwaigwe and Speaker, Abia State House of Assembly, Rt. Hon. Matins Azubuike during the 2016 Worker’s/May Day Celebration in Umuahia, Abia State...recently

R-L: Acting Managing Director/CEO, NDDC, Mrs Ibim Semenitari; Mrs Manuella Izunwa and Pastor George Izunwa, during a business breakthrough summit organised by gateway international church, in Port Harcourt.......recently.

L-R: Group Managing Director/CEO, First City Monument Bank Limited, Mr. Ladi Balogun; Chairman of FCMB Group, Dr. Jonathan Long; and Company Secretary, Mrs. Olufunmilayo Adedibu at the 3rd Annual General Meeting of FCMB Group Plc in Lagos...recently

L-R: Chef Patron of Award winning Kitchen , La Petite Maison, Chef Rapheal Duntoye; President, Culinary Arts Practitioners Association in Nigeria, Chef Tiyan Alile; and Divisional Head, E-Business, Guaranty Trust Bank Plc, Bolaji Lawal, during the media briefing on the GTBank food and drink fair in Lagos...recently etop ukutt

FCT Minister, Malam Muhammad Musa Bello (right)and the Chairman, Christian Association of Nigeria, FCT Chapter, Rev. Dr Israel Akanji during a visit to the minister by the CAN Chairman in Abuja…recently

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD NIBOR PRIME 1-MONTH

R A T E S LOAN

4.4583% 9.1071%

3-MONTH 3-MONTH

A S

11.0102% 12.3790%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157

A P R I L 2 9 , 6.9949% 7.2368% 8.0819%

1-MONTH 9-MONTH 12-MONTH

9.2061% 9.5872% 10.5042%

2 0 1 6

EXCHANGE RATE N197/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes FCMB Backs NSE’s Corporate Challenge

REWARD FOR SHAREHOLDERS

L-R: Director, Olorogun O’tega Emerhor; President/CEO, Mr. Emmanuel Nnorom; Chairman, Mr. Tony O. Elumelu; and Non-Executive Director, Alhaji Abdulquadir Jeli Bello; and Non-Executive Directors, Transcorp Plc, Mr. Stanley Lawson, at the 10th Annual General Meeting of Transnational Corporation of Nigeria(Transcorp) Plc, held in Calabar ...recently

External Reserves Fall by $753 Million Obinna Chima Nigeria’s external reserves diminished by a total of $753 million to close at $27.123 billion as at April 28th, compared with the $27.859 billion it was as at April 1. The current position of the reserves, which are derived mainly from the proceeds of crude oil earnings represented a decline by $1.855 billion or 6.4 per cent, as against the $28.978 billion it stood at the beginning of this year, according figures gathered from the Central Bank of Nigeria (CBN). Crude oil prices recorded nearly 20 per cent climb in April to about $46 per barrel. OPEC crude-oil production surged by 484,000 barrels to 33.217 million a day in April, according to a

ECONOMY Bloomberg survey. THISDAY had reported that the external reserves were expected to decline further due to the settlement of large swap positions between the banks and the CBN. According to estimates, the overall swap books of some Nigerian banks were about $5 billion, with most of it to be paid back this year. However, findings showed that there were some 400-day swap deals that were done in the fourth quarter of 2015. A swap is a derivative in which two counter parties exchange cash flows of one party’s financial instrument for those of the other party’s financial instrument. Analysts at FBN Quest noted the peak in crude oil price from

its recent floor in January, saying the budget assumption of $38 per barrel has started to look conservative. They predicted an end-2016 spot price for Bonny Light of $55 per barrel. “They said, the global supply/demand balance for crude is set to remain out of kilter until late 2017. Inventory accumulation, data-driven China worries and an uncompromising Saudi stance militate against an earlier recovery. “The success of the President Muhammadu Buhari agenda rests upon whether its expansionary fiscal stance will deliver the capital spending and the jobs to make its contribution to a revival in the economy. This, in turn, requires that it comes close to hitting its ambitious targets for non-oil revenue

generation. “These are heady projections and the impact of the 2016 budget will not be felt much before the end of the year. Beyond the fiscal, the FGN would do well to clarify its policies and trumpet its successes, given the limits on the patience of voters and markets. They also predicted that there would be unexciting growth this year and next. Growth of 2.1 per cent year-on-year was recorded in fourth quarter Q4 2015, which was the lowest in the revised series of national accounts. Analysts also projected that a combination of government spending, sector-specific reforms and a modest rise in Continued on page 24

Investors Stake N183bn on 47bn Shares in Four Months Goddy Egene Investors invested about N182.845 billion in 46.758 billion between January and April 2016. Statistics obtained by THISDAY showed that investors staked N99 billion on 18.336 billion shares in January and February and N83.845 billion on 28.433 billion shares in March and April 2016. An analysis of the performance showed that February accounted for the highest value of investment. Investors traded N57.145 billion on 12.166 billion shares in February compared to N42.05 billion staked on 5.668 billion shares valued at N42.05 billion in January. A further analysis of the performance in February indicated that the highest volume and value of shares were traded in the first week,

CAPITAL MARKET where investors exchanged 5.087 billion shares valued at N18.488 billion. This was followed by last week, which accounted for 4.47 billion shares worth N11.742 billion, while the second week recorded 1.407 billion shares valued at N17.277 billion. Investors traded 1.202 billion shares for N9.641 billion in the third week of the month. A breakdown of trading data for the month January 2016 had shown that the second week accounted for the highest value of transaction. Investors staked N14.165 billion on 2.177 billion shares in 21,471 deals. The third week followed with N10.753 billion invested in 2.177 billion shares in 21,471 deals, while the fourth week recorded N9.463 billion staked on 1.133 billion shares in 16,680 deals. The

first week accounted for the lowest transaction with investors investing N7.669 billion in 899 million shares in 14,164 deals. In March, the highest value of investment was made in the third week as investors staked N18.338 billion on 11.907 billion exchanged in 19,508 deals. The fourth week accounted for N10.453 billion invested in 1.552 billion shares in 14,994 deals, while N7.992 billion was invested in 1.476 billion shares in 15,743 deals. The second week recorded N7.448 billion staked on 1.111 billion shares in 15,562 deals. For the month of April, investors staked N13.326 billion on 8.054 shares traded in 15,212 deals in the third week. The fifth week accounted for N7.115 billion invested in 1.210 billion in 15,973 deals, just as the first week accounted for

N6.429 billion invested in 1.262 billion shares in 12,274deals. Investors committed N6.201 billion in 1.111 billion shares in 15,315 deals in second week, while the fourth week recorded N5.829 billion, invested in 88.367 million shares in 13,870 deals. Market analysts had said performance of the market reflects the economic headwinds, which have affected the market performance. The Nigerian equities market is currently suffering from the impact of adverse macroeconomic situation largely due to a drastic drop in the price of oil, negative public sentiment which is related to the state of the macro-economy and exit of foreign portfolio investors in reaction to the Central Bank of Nigeria (CBN) on policy on Continued on page 24

First City Monument Bank (FCMB), for the third time in a row, is throwing its weight behind this year’s edition of the Nigerian Stock Exchange (NSE) Corporate Challenge, which comes up on May 14, 2016 in Lagos. Themed “Erase Cancer”, the event is a call to action for Nigerians, especially corporate bodies, including over 100 listed companies and broker dealer firms in the NSE whose representatives and staff are expected to participate in the five kilometer walk, jog and run competition to stand against this menace. According to the bank, this initiative aligns with various aspects of its corporate social responsibility and its strong belief in the Sustainable Development Goal which focuses on health for all. The main objective of the corporate challenge competition is to raise funds and all proceeds from the competition are expected to be donated towards providing mobile cancer screening centers in Nigeria. Speaking on the rationale behind FCMB’S continuous support for NSE’s project, the Group Head of Corporate Affairs for FCMB, Mr. Diran Olojo said: “Our concern for cancer patients and their painful experiences drives FCMB’s support for this laudable project. This is more apt when one remembers that cancer accounts for 13 percent of all deaths registered globally. And in Nigeria, about 10,000 cancer related deaths are recorded annually while 250,000 new cases are recorded yearly. This is quite painful to imagine. FCMB as a socially responsible and conscious corporate body, is keenly interested in this fight. We want Nigerians to know that most types of cancer including breast cancer, cervical cancer, oral cancer and colorectal cancer can be cured if detected early. It is also important to know that our diet and lifestyle play a crucial role in reducing the scourge of cancer. One must maintain a healthy lifestyle and also go through regular medical check-ups.”

W’Bank Highlights Climate Change Effects

Water scarcity, exacerbated by climate change, could cost some regions up to six per cent of their Gross Domestic Product (GDP), spur migration, and spark conflict, according to a new World Bank report released Monday. The report titled: “High and Dry: Climate Change, Water and the Economy,” said the combined effects of growing populations, rising incomes, and expanding cities will see demand for water rising exponentially, while supply becomes more erratic and uncertain.Unless action is taken soon, the report said water will become scarce in regions where it is currently abundant - such as Central Africa and East Asia - and scarcity will greatly worsen in regions where water is already in short supply - such as the Middle East and the Sahel in Africa. These regions could see their growth rates decline by as much as six per cent of GDP by 2050 due to water related impacts on agriculture, health, and incomes.The report also warned that reduced freshwater availability and competition from other uses - such as energy and agriculture - could reduce water availability in cities by as much as two thirds by 2050, compared to 2015 levels.

Ghana Inflation Dips to 14.3% in March

Ghana’s producer price inflation (PPI) fell to 14.3 per cent year on year in March from an unrevised 14.5 per cent the previous month, driven by a drop in utility prices, the statistics office has revealed.Utility prices were down by 0.5 percentage points from February but inflation in the sector remained at 43.4 per cent, Reuters quoted deputy government statistician, Baah Wadieh to have said. The high rate for utilities reflects a big increase in water and electricity tariffs imposed by the government towards the end of last year to meet conditions of the country’s International Monetary Fund (IMF) aid programme and which have fed through to production costs in the wider economy. PPI is a major component of consumer inflation, which rose to 19.2 percent in March from 18.5 per cent in February.

If we can improve electricity generation, that will help to check the shortfall and boost the economy

Chairman, Transcorp Mr. Tony Elumelu

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD EXTERNAL RESERVES FALL BY $753 MILLION oil revenues should deliver unexciting growth of 3.5 per cent in 2017. FBN Quest predicted that devaluation would be the last resort by the central bank. “The CBN has stiffened its defence of its exchange-rate policy. We see devaluation under duress and a year-end interbank rate of N230. We see further monetary tightening ahead as the Monetary Policy Committee responds in textbook manner to rising inflation. We also see FGN bond yields in the middle of the curve backing up towards the 14 per cent level in the weeks ahead. The budget deficit target requires consistently large sales of bonds at auction,” the firm added. Renaissance Capital Limited (RenCap) recently stated that it foresees Nigeria’s forex policy becoming more flexible by mid-2016. The firm, in a recent report said it expects the country’s policy-based budget support to spur a change in the CBN’s forex policy. According to RenCap, this was the case the last time Nigeria sought financing from development finance institutions in 2009. Buhari’s government has described its first budget, which is yet to be signed into law, as reflationary. INVESTORS STAKE N183BN ON 47BN SHARES IN FOUR MONTHS foreign exchange. The headwinds notwithstanding, the Chief Executive Officer of the NSE, Mr. Oscar Onyema had advised investors to take a portfolio approach to investing in the market. According to Onyema the current state of the market created both challenges and opportunities for investors. “We believe that taking a portfolio approach to investing provides the best risk adjusted alternative for participating in the capital market. As such, we want to ensure that the NSE provides a repertoire of products that will allow investors to create well diversified portfolios of uncorrelated asset classes,” he said.

NEWS

FIRS Seals Tax Defaulting Companies in Rivers The enforcement team of the Federal Inland Revenue Service (FIRS) in Port Harcourt has sealed the business premises of 10 companies that defaulted in remitting their taxes to the Federal Government of Nigeria. The State Coordinator of FIRS in Rivers, Edo and Delta State (otherwise called the RED States), Mr. Joel-Onowakpo Thomas, who led the enforcement drive, told reporters that “the campaign is in line with the directive of the FIRS Management with clear instructions to seal up all companies that have refused to file returns and have not paid their tax liabilities.” “This exercise being carried out throughout the country will be enforced in all the three states within my jurisdiction starting with Rivers State, followed by Edo and Delta State. My simple advice to the tax paying public is that, they should quickly go to the FIRS office nearest to them to file their returns, reconcile and pay up any outstanding liabilities to avoid unnecessary embarrassment because the administration of Mr. Babatunde Fowler is determined to collect every kobo due to government. “We want to a stop the lukewarm attitude to paying taxes. Time has changed and

the attitude towards payment of taxes must change. Tax is the only sustainable revenue source that can help government meet up with its obligations and must be supported,”

Joel-Onowakpo said. According to the State Coordinator, the FIRS is fully determined to utilise all options available to it to recover all liabilities from all defaulting

taxpayers that refused to settle their indebtedness including the arrest of the CEOs and directors of the defaulting organisations. Meanwhile, taxpayers with

outstanding tax liabilities have been flooding the zonal headquarters of FIRS to reconcile their accounts with the FIRS to avoid been shut down at the time of filling this report.

A BOOST FOR AGRICULTURE

L-R: CEO, Inter Products Link Limited, an agro-allied investor from Kano, Shuaibu Bello and Heritage Bank’s Executive Director, Lagos, South West and Corporate Banking, Mrs. Mary Akpobome at the launching of Oyo State Agricultural Initiative, supported by the Bank, at Paago Village, Iseyin Local Government Area of Oyo State…recently

Imbibe Corporate Governance to Tackle Economic Crisis, FG Told Ugo Aliogo The Institute of Chartered Secretaries and Administration of Nigeria (ICSAN) has charged the federal government to imbibe the culture of corporate governance in order to tackle the numerous challenges facing the nation. The President of ICSAN, Dr. Nat Ofo, explained that corporate governance ensures that the right things are done at the right time, and people are acting within ethical values, which would promote growth and development for the country, “no individual is trying to disrupt the change agenda of

the present administration, the citizenry is working to ensure that the ideal goal of governance is achieved.” Ofo, who disclosed this in Lagos recently at the public lecture of the institute with the theme; “Nigeria Vision 2020 and a Challenging Economic Situation: Is Governance a Panacea,” stated that the institute has contributed positively to the policy direction of the nation with its promotion of good public governance activities. “Through our annual programmes such as lectures and roundtable programmes on corporate governance we churn out practicable ideas,

initiatives and policy guidelines to empower the private sector to meet contemporary business challenges,” he noted. He stated that the harsh economic situation facing the country has prevented it from actualising the vision 2020 agenda, while calling on the government to be focused on its objectives and things should be done to ensure that the economy moves forward. Ofo added: “Presently, there is so much hardship such as foreign exchange, fuel scarcity, insecurity and unemployment. If government focuses attention on these areas, they will be able to win the hearts of Nigerians.

Right now, Nigerians are aware of what government is doing, and this is why they are expressing doubts if the government is working towards their interests. “They should also communicate what they are doing to the people. I think what has happened to this government is that things were not as rosy as they imagined. It has been yearly one year since the present administration came to power, therefore it is enough time for the administration to chart its course and move the nation forward. It is not proper to say that nothing has been done to address the insecurity challenges;

the issue of insecurity is a very sensitive issue which should be tackled with carefully. Governance is not an easy thing, therefore trying to do the right thing involves a lot of challenges.” In his address, the guest lecturer, Fabian Ajogwu (SAN) stated that the political, the economic and the psychological processes must be integrated, stressing that the economic process should focus on the transparency of public accounts, the effectiveness of public resources management and the stability of the regulatory environment for private sector activity.

Kari Lists New Challenges Facing Sub-regional Insurance Sectors Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgricBusiness)

Ebere Nwoji The Commissioner for Insurance Alhaji Mohammed Kari has listed latest challenges facing sub-regional insurance industry as new business challenges, changing laws and regulation among others. He said given these challenges, though the future of the insurance sector is hard to predict, it can be prepared for. He described the challenge of changes in regulation as a by-product of the past financial crisis and the globalisation of the world’s economy, which has enmeshed nations of the world together irrespective of geographical boundaries.

He however said notwithstanding these challenges, there is enough potential for positive growth of the insurance sectors in the West African states. Kari however said this requires the collaborative efforts of the players, regulators and governments in the region. “The potential I see are not limited to some prospective demand for insurance products but for the operator’s collective efforts to address common issues that were hitherto seen as individual’s problems.” The Commissioner, who spoke at the recent West African Insurance Company’s Association (WAICA) conference said such conferences should create

opportunities for operators and regulators alike, to compare and exchange notes on how each market is tackling its individual challenges, and how best to avoid others’ adverse experiences. “I have witnessed first-hand how coming together can easily overcome previously presumed not insurmountable hurdles. I invite the delegates from our sister countries to learn from their Nigerian colleagues how the market and regulator have come together to create a development front for tackling issues. I also request the visiting delegates to share their experience with us for the same benefit”, he said..

He said the global insurance markets is one and the same but only differs in magnitude but not in substance. He said participants at the conference in their deliberations should remain conscious of other regions’ resolutions and ideas, thus acknowledging the age-long adage of not having to reinvent the wheel. “Let me reiterate that this conference is as thoughtful as it is timely. Our overall desire is to have an industry that is knowledge driven and run in line with international best practice in our respective countries”. So let us all join hands to build a stronger regional market that is capable

of competing with its peers in other regions,” he said. Kari also enjoined the insurers to come out with resolutions and ideas that can make the regional insurance industry the envy of Africa and the world. “Let us learn from each other and let us work together in order to overcome challenges confronting us, economic or otherwise. From the operator’s level to regulators, we need to interrelate and cooperate with each other in order to overcome challenges, and no challenge is as topical these days as the challenge of the modern economy.”

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

EQUITIES WATCH

Dangote Sugar Towers above Operational Challenges Goddy Egene writes that despite the challenging operating environment, Dangote Sugar rode on the back of cost efficiency to record a 41% growth in profit in the first quarter of 2016

Harvesting sugar at Savannah Sugar plantation, Numan.

Billion

When the Chairman of Dangote Sugar Refinery (DSR) Plc, Alhaji Aliko Dangote assured shareholders recently that the company remained committed to delivering superior returns, many stakeholders might not have taken the assurance seriously. Dangote gave that assurance during the annual general meeting (AGM) of the company in Lagos. The company paid N6 billion dividend for the year ended December 31, 2015. Commenting on the performance of the company, Dangote said 2015 was a very challenging year as the political transition and economic slowdown impacted consumer spending and the global oversupply of crude oil weakened the naira, leaving an average Nigerian consumer with less purchasing power than in the past three to four years. “In spite of this, we achieved a Group turnover of N101 billion in 2015, seven per cent higher than the turnover of N95 billion in 2014. Profit before tax NPBT) stood at N16 billion and Profit after tax at N15 billion. Our earnings before interest tax depreciation and armortisation (EBITDA) rose to N21 billion compared to N18 billion in the previous year,” he said. He therefore pledged that the company remained committed to delivering superior returns to its shareholders. Also speaking at the event, the acting Managing Director of DSR, Abdullahi Sule disclosed that 2016 commenced on a good footing as the company continued to increase its market share and implementing various initiatives and projects towards the actualisation of its target within the next five years. “Achievement of the backward integration projects (BIP) targets remains our priority, and this will eliminate our reliance on foreign exchange as well as volatility of raw sugar prices, the highest single driver of our production cost,” Sule said. In line with Sule’s disclosure that DSR commenced 2016 on a good footing, the company last week reported an impressive results for the first quarter(Q1) ended March 31, 2016.

Million

First Quarter Performance In a period when companies are recording decline in bottom line due to challenging operating environment, the management and board of DSR adopted an effective cost saving strategy to grow its bottom line by 41 per cent in Q1. DSR posted revenue of N32.617 billion, up from N22.522 billion in 2015. Sales and distribution expenses reduced by 14 per cent from N581 million to N494 million, while administrative expenses and finance cost declined by 7.9 and 7.6 per cent from N1.118 billion to N1.029 billion and from 158 million to N146 million respectively. Profit before tax (PBT) rose by 34 per cent from N3.798 billion to N5.113 billion, while profit after tax (PAT) rose by 41 per cent from N2.374 billion to

N3.339 billion. Analysts’ Comments Reviewing the performance of DSR’s performance, analysts at Afrinvest (West Africa), an investment banking firm, said posted a commendable growth in revenue for its Q1 as it grew by 44.8 per cent. They said: “This striking growth was on the back of impressive volume growth which the Group recorded as sugar volume sales grew 23.2 per cent , increasing to 211,793 tonnes in Q1 of 2016 from 171,924 tonnes in Q1 of 2015. The volume sales growth was majorly driven by increased demand which spurred higher production at the Lagos Apapa factory which grew by 14.6 per cent to 206,348 tonnes from 180,086 tonnes accounting for 97.4 per cent of total volume.” According to Afrinvest, as part of its backward integration efforts, the company increased volume sales from Savannah Sugar, which was acquired in 2013 by the Group, increased sugar production by 71.2 per cent to 8,441 tonnes, also impacted on volume growth. “Based on the 2012 Nigerian Sugar Master Plan (NSMP), a 70 per cent duty imposition on

imported raw sugar, which was due since 2014 but was moved to 2016, was later negotiated for 20 per cent by the company with the Federal Government of Nigeria. This necessitated a 21.8 per cent price increase (from average selling price of N6, 218/tonne in 2015 to N7,574/ tonne in 2016) as DSR was able to pass on the cost to consumers,” the analysts noted. They explained that the leadership of DSR in the Nigerian sugar market on the back of its price competitive strategy, despite the rising competition, has continued to support the Group’s revenue performance. “In alignment with NSMP, which is targeted at ending importation of Sugar by 2020, DSR is taking the major lead given its huge investment in backward integration, which over the next five years is expected to actualise this target. Sales to distributors continue to account for approximately 70 per cent of the company’s revenue while large corporate/industrial users account for 30 per cent of the company’s sales. Consequently, we revised upward our revenue forecast for FY: 2016 on the back of the growing industrial demand impacting volume growth and the recent 21.8 per cent price increase from 3.0 per cent to 20 per cent,” they said.

DANGOTE SUGAR REFINERY Q1 FINANCIAL SUMMARY

35 30 25

MARCH, 2016 N32.6bn MARCH, 2015 N22.5bn

MARCH, 2016 MARCH, N6.8bn 2015 N5.5bn

15 10

MARCH, 2016 N5.1bn

MARCH, 2015 N3.7bn

MARCH, MARCH, 2015 2015 N3.3bn N2.3bn

200

MARCH, MARCH, 2015 2016 N158mn N146mn

180 160 140 120 100 80 60 40 20 10

REVENUE

GROSS PROFIT

FINANCE COSTS

PROFIT BEFORE TAX

PROFIT AFTER TAX

Higher profit Afrinvest said against the backdrop of 20 per cent higher tariff in 2016 (relative to 10 per cent 2015) coupled with a 5.5 per cent higher global price of sugar in Q1:2016, cost of sales grew 52.0 per cent faster than revenue pressuring cost to sales margin to 79.2 per cent relative to 75.5 per cent in Q1:2015. “Freight expense component of the cost of sales jumped 147.1 per cent to N1.0 billion from N0.4 billion in Q1:2015 and could be 3.5x higher in subsequent quarters when the full effect of the hike in tariff is absorbed. Operating efficiency was, however, noticed in administrative and distribution expenses despite the increased volume sales and the gas/fuel supply challenges that the group experienced in the quarter. Notably, salaries & related costs, selling & marketing expenses and management fees were significantly down by 14.6 per cent, 20.6 per cent and 41.4 per cent respectively. Consequently, OPEX margin toned-down considerably from 7.5 per cent in Q1:2015 to 4.7 per cent in Q1:2016,” the added. Afrinvest noted that moderate operating cost profile impacted on profitability as the PBT grew 34.6 per cent to N5.1 billion from N3.8 billion in Q1:2015 though the pre-tax margin deteriorated to 15.7 per cent as against the Q1:2015 level of 16.9 per cent. Effective tax rate, however moderated to 34.7 per cent from 37.5 per cent impacting on PAT, which grew faster than PBT at 40.6 per cent while the net margin settled at 10.2 per cent in Q1:2016 from 10.5 per cent in Q1:2015. Raising Target Price The analysts said in light of recent information on DSR, volume growth momentum and the approximately 22.0 per cent increase in price, they are somewhat tuned to project a better performance for the Group in the 2016 financial year. “This is on the back of DR’s leadership of the sugar market and its leading pricing power in the industry in passing on higher cost to consumers should the 70 per cent tariff imposition becomes fully effective. We revised our revenue growth forecast to 20 per cent from the initial 3.0 per cent on the assumption that the Group will sustain volume growth at the current run rate given its dominance of the Nigerian sugar market. “We also revised our direct cost assumptions to reflect the recent change in the cost profile on the back of increased tariff. Our blend of absolute and relative valuation methodologies revealed a target price of N7.45 as against the previous target price of N6.73. This implies an upside of 29.1 per cent against the market price of N5.77 as at 22/04/2016. The target price is also at an implied forward P/E and P/BV of 5.2x and 1.2x against the trailing multiples of 5.5x and 1.1x respectively. We reviewed our investment recommendation from “Accumulate” to “Buy.”

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

ANALYSIS

Economic Crisis: How Nigeria Failed to Learn from History EromoseleAbiodun writes that failure to diversify the economy, prolonged years of military misrule, corruption, and policy errors have brought the Nigerian economy to its current state Thousands of people have lost their jobs since last year and the few ones who still have jobs are either on half pay or never earned salaries in months. To make matters worse, the government of the day seems not to have a plan to steer Nigeria out of the current conundrum. How did we get here? Long years of military rule, failure to diversify the economy from crude oil and endemic corruption were said to be some of the drawbacks. A former military ruler, the late General Sani Abacha, who was listed as one of the most corrupt Nigerian leaders, once said: “Our strategic parastatals are known sources of decadence. They are, in the public eye, bottomless pit through which enormous resources of the state are needlessly drained. They swallow so much public funds, yet remain public nuisance of monstrous proportion. Their inefficiency stares the public, whose resources sustain them, in the face. They charge exorbitantly for services they barely deliver. They are hardly able to meet their financial commitments. Rather, like Oliver Twist, they keep coming back for more funds.” Despite his claims, it is obvious that the Nigerian economy suffered a severe blow during the prolonged years of military regimes of Gbadamosi Babangida, Abacha and Abdulsalam Abubakar. At that time, life became miserable, while opportunism and greed thrived in the socio-political and economic environment of the country. The economy was battered and on the verge of collapse as social policy, economic and political institutions were undermined. Early 1980s as in the 1970s A major feature of Nigeria’s economy in the 1980s, as in the 1970s, was its dependence on petroleum, which accounted for 87 per cent of export receipts and 77 per cent of the federal government’s revenue. Falling oil output and prices contributed to another noteworthy aspect of the economy in the 1980s—the decline in per capita real gross national product (GNP), which persisted until oil prices began to rise in 1990. Indeed, GNP per capita per year decreased 4.8 per cent from 1980 to 1987, which led in 1989 to Nigeria’s classification by the World Bank as a lowincome country (based on 1987 data) for the first time since the annual World Development Report was instituted in 1978. In 1989 the World Bank also declared Nigeria poor enough to be eligible (along with countries such as Bangladesh, Ethiopia, Chad, and Mali) for concessional aid from an affiliate, the International Development Association (IDA). Another relevant feature of the Nigerian economy was a series of abrupt changes in the government’s share of expenditures. As a percentage of gross domestic products (GDP), national government expenditures rose from 9 per cent in 1962 to 44 per cent in 1979, but fell to 17 per cent in 1988. In the aftermath of the 1967-70 civil war, Nigeria’s government became more centralised. The oil boom of the 1970s provided the tax revenue to strengthen the central government further. Expansion of the government’s share of the economy did little to enhance its political and administrative capacity, but did increase incomes and the number of jobs that the governing elites could distribute to their clients. The economic collapse in the late 1970s and early 1980s contributed to substantial discontent and conflict between ethnic communities and nationalities, adding to the political pressure to expel more than two million illegal workers (mostly from Ghana, Niger, Cameroon, and Chad) in early 1983 and May 1985. The state also privatised many public enterprises by selling equity to private investors, while restructuring other parastatals to improve efficiency. The federal government encouraged private investment in the late 1980s, allowed foreign ownership in most manufacturing, and liberalised and accelerated administrative procedures for new investment.

SPENDS $100 BN ON IMPORTS; LEADING SOURCES ARE CHINA(9.4%), THE UNITED STATES(8.4)% THE UNITED KINGDOM(7.8%), THE NETHERLANDS(5.9%), FRANCE(5.4%), GERMANY(4.8%), AND ITALY(4%)

IN 1991-1995 THE AVERAGE ANNUAL REAL OUTPUT GROWTH RATE DECLINED TO JUST 1.4%, INFLATION RATE INCREASED TO 48%,UNEMPLOYMENT RATE INCREASED 3 FOLDS

NO VACANCY

THE NAIRA, WAS 0.77 TO $1 IN 1984, FELL SO RAPIDLY BY AN UNPRECEDENTED RATE OF 100% FROM N34 TO $1 IN 1994 TO N68 TO $1 IN 1995 AND N199 TO $1 TODAY

BEGINNING FROM 19711975 TO 19911995 PERIOD HAD REPRESENTED THE WORST 5-YEAR PERIOD IN ECONOMIC PERFORMANCE

AVERAGE DOMESTIC DEBT INCREASED FROM N49BN A YEAR IN 1986-1990 TO N245BN A YEAR IN 1991-1995 AND REACHED N342BN IN 1995

CRUDE OIL

PPP HAS ALMOST TRIPPLED FROM $170BN IN 2000 TO $451BN IN 2012

NIGERIA IS THE LARGEST CRUDE OIL SUPPLIER TO INDIAIT ANNUALLY EXPORTS400,000 BARRELS PER DAY (64,000 m3/d) TO INDIA VALUED AT US$10 BN ANNUALLY. PRODUCES ONLY ABOUT 2.7% OF THE WORLD’S SUPPLY

THE INFLATION RATE HAD REACHED 72.8% IN 1995

FG INCREASED 5 ITS REVENUE BY OVER 5 TIMES FROM N40BN A YEAR IN 1986-1990 TO N229BN A YEAR IN 1991-1995.

$ $ NIGERIA ACHIEVED A POSITIVE CURRENT ACCOUNT BALANCE OF $9.6 IN 2005

Structural Adjustment Programme The Babangida’s administration, which came to power in August 1985 at a time of depressed oil prices, undertook its structural adjustment programme between 1986 and 1988. In September 1986, the government introduced a second-tier foreign exchange market (SFEM), sold on auction for a near equilibrium price and used for export earnings and import trade requirements. Under SFEM, the naira depreciated 66 per cent from N1=$0.64 to N1.56=$1. It declined further in value through July 1987, when the first and second tiers were merged. When adopting the SFEM, Nigeria abolished the ex-factory price controls set by the prices, productivity, and incomes board, as well as the 30 per cent import surcharge and import licensing system. It reduced its import prohibition list substantially and promoted exports through fiscal and credit incentives and by allowing those selling abroad to retain foreign currency. Although this action opened the way for an IMF agreement and debt rescheduling, the military government declined to use an allocation of Special Drawing

IN 2005, NIGERIA POSTED A $26BN TRADE SURPLUS, CORRESPONDING TO ALMOST 20% OF GROSS DOMESTIC PRODUCT

NIGERIA PAYED OFF ITS DEBT OWED TO PARIS CLUB IN APRIL 2006,STRUCTURED AS A DEBT WRITE OFF OF APPROXIMATELY $18BN AND CASH PAYMENT OF APPROXIMATELY $12BN

IN 2012, NIGERIA’S EXTERNAL DEBT WAS AN ESTIMATED $5.9BN AND N5.6TRN DOMESTIC -PUTTING TOTAL DEBT AT $44BN

Rights in IMF standby funds. The effect of the SFEM in breaking bottlenecks, together with the slowing of food price increases, dampened inflation in 1986, but the easing of domestic restrictions in 1988 reignited it. Real interest rates were negative, and capital flight and speculative imports resumed. In 1989 the government again unified foreign exchange markets, depreciating-but not stabilizing-the naira and reducing the external deficit. Manufacturing firms increased their reliance on local inputs and raw materials, firms depending on domestic resources grew rapidly, and capacity utilization rose, although it was still below 50 per cent. Concurrently, non-oil exports grew from $200 million in 1986 to $1,000 million in 1988. This amount, however, represented only 13 per cent of export value at the level of the 1970s, and cash crops like cocoa dominated the export market. Large firms benefited from the foreign exchange auction and enjoyed higher capacity use than smaller ones. Despite dramatically reduced labour costs, domestic industrial firms undertook little investment or technological improvements.

The morning of May 1999 Nigeria was a pariah state before Chief Olusegun Obasanjo assumed office as civilian head of state. Military rule had a devastating effect on the Nigerian economy. Economic planning was haphazard, policies distorted, and implementation processes undermined. In addition, corruption, fraud and general mismanagement became the order of the day. However, the morning of May 1999 witnessed a turning point in the political history of Nigeria as civilian political leaders were sworn in. The birth of the fourth republic became a reality after a prolonged military rule. The newly born fourth republic became highly instructive considering the scope and array of economic and political problems bequeathed to the country by the prolonged years of military rule and which the newly elected civilians have to cope with. Meanwhile, the performance of the Nigerian economy in 1999 was mixed. Inflationary pressures eased, especially during the second half of the year. At this period, inflationary pressures had decreased to 6.1 per cent. This was a great decrease as it had risen up

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

ANALYSIS

to 70 per cent in 1995 and 1996. This coincided with a period of expansionary fiscal deficit and money supply growth. Also, the naira exchange rate was stable as dollar exchanged for N92.00 to a dollar as at the last quarter of 1999. However, the later part of year 2000 witnessed a drastic increase in the exchange rate. At this period up to the second half of year 2000, a dollar was exchanged for NI35.00. This showed a decrease of about 50 per cent in the value of the Naira. Learning from history An Economist, and former Presidential Candidate of the African Democratic Congress (ADC), Prof. Pat Utomi believes Nigeria failed to learn from its 1983-85 financial crisis, blaming it on what he described as the knowing-doing gap of the Nigerian people. Airing his views via his official Facebook page, Utomi advised the federal government to wake up before the situation goes beyond control. According to him,“When anxieties with the state of the economy rose, as Oil prices went South in 2015, I was struck by how we went from worry to panic and how many actions failed to recognize similar experience from our recent history and more than enough knowledge on what happened before and what was trending in the global environment. That such knowledge was untapped caused me to begin to rethink many things. “How does Nigeria always manage to lose institutional memory, and what is responsible for the Knowing-Doing gap that seems to prevent us from properly handling routine problems without generating crisis of earthshaking proportions. Surely we do not need Harvard Business School Professors Jeffrey Pfeffer and Robert I Sutton to see that there is a huge Knowing – Doing gap in the policy arena in Nigeria. “Pfeffer and Sutton had in year 2000 wondered how come so many firms show significant gaps between what they know and what they actually do. You can see this applies to governments the moment you go to the many talk shops of Nigeria and from there cast a glance at the policy action arena. When at one of these events recently someone reminded me of another one a few months before when it seemed a vow to defend the Naira was being taken.” He added: “He reminded me that I had said pressure on the Naira, with a significant dollar earnings dip, was not the end of the world but that a floating“managed”exchange rate mechanism Bismark Rewane had talked about was appropriate response and also that in addition a clear game plan on how the financing from declining Oil receipts, could be bridged to tide over a temporary challenge by quick borrowing of dollars to shore up supply with other measures to block leakages could boost confidence. “I suggested teams of people credible in economic and financial circles; head off to critical global capitals to show where we were going. I was convinced that would have stimulated confidence in Nigeria at a time the gap between the nominal exchange rate and our purchasing power parity line was no more than six naira, as Bismark Rewane pointed out. “Had the teams out there telling the world about the new thrust of policy and growth potential in which decline in contribution of dollars from a sector contributing to a small portion of GDP was causing tightness, investment flows will make up for Foreign exchange supply lost, just as a little borrowing could bridge the financing gap and stave of currency speculations.” Focusing on a clear strategy Utomi added: “It seems to me that instead of focusing on a clear strategy of short, medium and long term perspective plan anchored diversification of the base of the economy and the tactics to hold off raiders of the currency by inspiring confidence based on plans for the future, we slipped into this spurious discussion of symptom called devaluation of the naira. “I never could understand why knowledge from 1983-85, in Nigeria, and the Asian financial crisis, failed to inform the passions spewing out or the subject from people with access to people who could better inform them. One of the truly enduring explanations of how Nigeria went into de-industrialization from the 1980s, even before becoming fully industrialized is a comparison of Nominal exchange rate divergence from purchasing power parity.” He further stated that,“A review will show that the regions of the world where nominal exchange rates and the Purchasing Power Parity line were a close fit had more growth and prosperity. Between Africa, Latin America and Asia in the 1980 and 1970s South East Asia was that zone. “What I found even more paradoxical was that

Source: Eczellon Capital Research& CBN

those who favour state centrals to drive development and therefore should embrace some of the postulates of the South Korean Economist at Oxford Ja Joo Chang are signing off on the European Union ECOWAS Economic Partnership Agreement (EPA). This is quite curious.”

time. Oil producing countries must factor this in and model their economic policies towards this direction. Nigeria is facing mounting pressure. There will continue to be abundant supply of oil, but low demands. It is very unlikely that we will see any rise anytime soon.”

IMF points way out When she came to Nigeria earlier this year, Managing Director, International Monetary Fund (IMF) Christine Lagarde urged Nigerians to brace up for harder times, following the massive fall in the price of oil globally. Lagarde, who called for increase in Value Added Tax (VAT), stressed that it has become imperative for the federal government to broaden the country’s tax base against the backdrop that Nigeria has the lowest VAT rate in the African continent. According to her,“the current VAT rate is among the lowest in the world and well below the rates in other ECOWAS members—so some increase should be considered.” Although the IMF MD was careful not to endorse the devaluation of naira against major international currencies, she, however, urged the federal government to adopt a flexible monetary policy that will better serve the interest of Nigerians. The IMF boss, who called on the federal government to reduce cost of governance, said that the contentious fuel subsidy must be removed to allow government spend on infrastructure, housing, education, health, among others. She, however, cautioned Nigeria against obtaining loans, noting that it was at the moment affecting the country and subsequent borrowing could hurt the nation’s economy in the long run. She said:“On recurrent expenditure, efforts should be made to streamline the cost of government and improve efficiency of public service delivery across the federal and sub-national governments. Transfers and tax expenditures should also be addressed. For example, continuing the move already begun by the government in the 2016 budget to eliminate resources allocated to fuel subsidies would allow more targeted spending, including on innovative social programmes for the most needy.” She continued: “Indeed fuel subsidies are hard to defend. Not only do they harm the planet, but they rarely help the poor. IMF research shows that more than 40 per cent of fuel price subsidies in developing countries accrue to the richest 20 per cent of households, while only 7 per cent of the benefits go to the poorest 20 per cent. “The move by the government to remove fuel subsidy is good. Those people who need the subsidy can receive cash transfer. Fuel subsidies are hard to defend. Subsidies are no longer good. But I hear that it will hurt the poor. Forty per cent of fuel subsidies in rich countries go to rich families. The people do not really need the subsidy. Look at the number of people who stay in stations trying to buy fuel. There is a small acceleration expected in 2016. Growth in the last 10 years has slowed down in Sub-Saharan African countries. Oil prices will remain low and low for a long

Administering fuel subsidies Moreover, she said Nigeria experience of administering fuel subsidies suggests that it is time for a change—think of the regular accusations of corruption, and think of the many Nigerians who spend hours in queues trying to get gas (fuel) so that they can go about their everyday business. “At the same time, we should not forget the huge challenges facing Nigeria’s state and local governments. These sub-national governments—which account for the bulk of social spending—have only limited tools to manage the impact of declining oil revenues. My message here is to manage better the smaller purse, while building capacity to increase internally generated revenue,” she said. Lagarde urged Nigeria to build regional cooperation among West African countries because whatever affects Nigeria directly or indirectly affects other countries within the sub region. According to her, “This is always a moment I cherish. My first visit to Nigeria was in late 2011. At that time, Nigeria was emerging from the global economic crisis. Nigeria is the prime destination in Africa. Nigeria has gone through democratic transition which is a good thing. When investors know that transitions can happen successfully, they have more confidence. “The richness of Nigeria has to do with the population. Nigeria is a huge market and people who are prepared to put their money here look at the population. Oil prices have fallen sharply. The geopolitical tensions have increased. These things are happening at a time the country needed to lift the standard of living of Nigerians. Nigerians are known for their courage and doggedness. Nigeria cannot waste time. There is no time at all. “Government must step up revenue mobilization and reduce leakages. Every 50 kobo collected from 30 per cent of the country’s revenue goes into the servicing of local and foreign debts. The government must focus on power, transportation and housing. These three areas will create wealth. They are critically important. Efforts should be made to reduce the cost of governance.“As I am told, Nollywood currently employs over one million Nigerians. Poverty and inequality still remain high in many parts of the country. Mortality rate is still high.” Speaking on the need to strengthen institutions of government empowered to tackle corruption-related issues, Ms Lagarde revealed that over $1 trillion was given and received as bribes globally every year. She equally revealed that corruption makes up five per cent of global GDP. The IMF boss who urged the National Assembly to come up with laws that will address corruption and block leakages in the system, said:“Corruption is touted to be five per cent of the global GDP and over $1 trillion is said to be given as bribes

globally every year. Today, Nigeria is looking ahead. The future is greater than the past in Nigeria. But the sooner the government delivers, the better it will be for Nigeria and Nigerians.” Commoditised foreign reserves As part of measures to strengthen the naira and grow the local economy, Cross River State Governor, Professor Ben Ayade advocated for payment of contractual fees and charges to multi-national companies in local currency. Ayade, who stated this when he received the chairman and other members of Senate Committee on Petroleum Resources Upstream on a three-day workshop in Calabar, said that it is by so doing that the emphasis on dollars will be less and the value for naira better appreciated. He said: “The dollarisation of contracts in the oil and gas sector is another crippling issue in this country. It is only in Nigeria that contracts are awarded in dollars and denominated in dollar. The international exchange rate is fast changing, a lot of people prefer to do business in their local currency, and we have countries that have made laws that stipulate a minimum irreversible exchange rate between their currency and the dollar; We should not be an exception. “Like every determined government, we should not allow the exchange rates of our naira to escalate based on market forces of demand and supply, that is to say that we have a vehicle without a driver.” He further argued that the activities in the oil and gas sector in the country which allow for the sale of crude oil in dollars, with the dollar not returning to Central Bank of Nigeria, is another issue which should be tackled under the local content law. “With our main exports, we should not have this kind of exchange rate that we are having in naira today. It may be synthetic, it may be a little artificial, it could be black market induced but we have failed to establish a framework that can give the naira its value. Must we always put the naira against the dollar? Ayade asked rhetorically, noting that“in most countries like United Kingdom , some of their foreign reserves come in form of gold. Why must our foreign reserves be in our dollar, why can’t we commoditise our foreign reserves?” The governor, who reasoned that the country was blessed with abundant mineral deposits like bitumen, gold, iron, among others, stressed the need to convert these into foreign reserves in material terms and bring the naira to shore up its value. Accordingly he noted, “There must be a deliberate local content policy to protect the naira as a local currency even as we need to understand the local content policy beyond the perspective of the narrow issues of the oil and gas industry.” Ayade urged the federal government to take a deliberate policy as well as ensure full implementation of local content act to shore up the value and strengthen the naira while advising that all LNG shipments sales out of Nigeria be paid to CBN directly.

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

ANALYSIS

Naira Volatility: Currency Swap Deal to the Rescue? With the perennial volatility of the naira, Obinna Chima wonders if the option of a currency-swap with China, will help provide stability to the naira

President Buhari

Since the financial crisis of 2007, central banks around the world have entered into a multitude of bilateral currency swap agreements with one another. These agreements allow a central bank in one country to exchange currency, usually its domestic currency, for a certain amount of foreign currency. The recipient central bank can then lend this foreign currency on to its domestic banks, on its own terms and at its own risk. According to the Council on Foreign Relations (CRF), an independent, non-partisan think tank, over the past seven years, the swaps have been used by central banks to obtain foreign currency to boost reserves and to lend on to domestic banks and corporations. While the terms of swap agreements are designed to protect both the central banks involved in the swap from losses owing to fluctuations in currency values, there are some risks that a central bank will refuse, or be unable, to honour the terms of the agreement, the CRF noted in a report. For this reason, lending through currency swaps is a meaningful sign of trust between governments. It can also be a sensitive domestic political issue. This, clearly, could be one of the reasons why the Nigerian government does not want to hurriedly divulge full details of its trip to China, especially in the area of a currency swap deal that had been widely reported. President Muhammadu Buhari recently travelled with a high-level government delegation to China where he signed a $6 billion deal to fund joint infrastructure projects. During Buhari’s visit to Beijing, the Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest lender, and Nigeria’s central bank signed a deal on yuan transactions. “It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been included in the foreign exchange reserves of Nigeria,” Lin Songtian, Director General of the African Affairs Department of China’s foreign ministry, told reporters. The agreement was reached following a meeting between Buhari and Chinese President Xi Jinping. The move came after the Minister of Finance,

Finance Minister, Kemi Adeosun

Mrs. Kemi Adeosun, said recently that Nigeria was looking at Chinese panda bonds – yuandenominated bonds sold by overseas entities on the mainland – adding that they would be cheaper than Eurobonds. Nigeria’s central bank has said it plans to diversify its foreign exchange reserves away from the dollar by switching a stockpile into yuan. It converted up to a tenth of its reserves into yuan five years ago. Lin said a framework on currency swaps had been agreed with Nigeria, making it easier to settle trade deals in yuan. But while the market was still digesting the implication of the agreement with China, the Minister of Foreign Affairs, Geoffrey Onyeama, disclosed that, contrary to reports, there was no currency swap agreement between Nigeria and China. “It’s not really a swap. What it takes is that as the Chinese economy goes strong, there is pressure on them from the trading partners, international financial institutions. They agreed that the money should be internationalised. So, they started that for a while. They were protecting it also. “They did not allow it to be fully exchangeable. But now their economy is fully strong, they are looking for a way to internationalise the currency. Now, they were saying, essentially, that they wanted to segment it,” he explained. For a number of years now, the Chinese government has been entering into these swap agreements with various countries. The swaps typically last for three years after which they are renewed or increased. South Africa is the only African country that has signed a currency swap deal with China. What is a Currency Swap? The current deal is essentially a countertrade agreement (trade by barter) as it involves the exchange of crude oil for goods from China. However, a report by Lagos-based Financial Derivatives Company Limited said a swap is traditionally defined as an exchange of one security for another to change the maturities of a bond portfolio or the quality of the issues

in a stock or bond portfolio. On the other hand, a forex swap agreement is a contract in which one party borrows one currency from, and simultaneously lends another to, the second party. Each party uses the repayment obligation to its counterparty as collateral and the amount of repayment is fixed at the forex forward rate as of the start of the contract. Thus, forex swaps can be viewed as forex risk-free collateralised borrowing/lending. “This is not the first time Nigeria has attempted a countertrade agreement. In 1985, Nigeria signed three separate deals with Brazil, Austria and Italy. In addition, Nigeria had earlier tried to diversify its external reserves away from the US dollar monopoly. “In 2011, erstwhile CBN Governor Mallam Sanusi Lamido Sanusi, converted 10 per cent of the country’s external reserves into the Chinese Yuan. At the time, Nigeria’s $32 billion reserves level was 79 per cent in dollars with the rest largely held in Euros and Swiss francs,” the FDC report pointed out. Why Nigeria Can’t Ignore China China as at 2014 toppled America to become the biggest economy in the world, according to figures from the International Monetary Fund (IMF). The IMF figures put the size of the Chinese economy at $17.61 trillion as at 2014 and is expected to extend its lead, with the IMF estimating its economy will be worth just under $26.98 trillion in 2019. That would be 20 per cent bigger than the United States economy, which is forecast to be worth $22.3 trillion by then. That is why serious countries across the globe are not ignoring China. China is the leading trading partner of Nigeria. Nigeria imports several products from China, including, but not limited to raw materials, industrial machinery and motor vehicle spare parts. On the other hand, Nigerian exports are mainly crude oil. Bilateral trade between Nigeria and China has grown rapidly in the last decade. For Nigeria, in terms of the volume of trade between the West African nation and China, investigations by THISDAY showed that Nigeria’s trade with the Asian giant has grown in leaps

and bounds compared with nine other major trading partners. For instance, in 2014, while Nigeria’s estimated trade volume with China alone was $11.76 billion, the country’s (Nigeria) trade volume with United States, Britain, France, Germany, Turkey, India, Japan, Italy and South Africa combined was $66.8 billion (see table for breakdown on page 1). This showed that relative to the nine countries, Nigeria’s trade volume alone with China accounted for 15 per cent of the total trade with Nigeria’s major trading partners. In 2015, Nigeria’s trade volume with China rose to $14.94 billion, representing 22.2 per cent of $78.56 billion of Nigeria’s total trade with eight of its major trading partners. Data on trade with South Africa in 2015 was not available. But from the latest available figures, the trade imbalance between Nigeria and China is significant, as Nigeria is a major export market for China, absorbing $16.9 billion worth of Chinese goods in 2014. China does also buy some Nigerian crude, but it’s a lot less – $2.4 billion in 2014 (and probably half that today). China has a trade volume of RMB10.747 trillion with the 31 countries with which it has currency swaps. Support for the Naira While Nigerians still await the full details of the arrangement with the Chinese government, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele, has expressed optimism that a currency swap deal with China will strengthen the naira and help reduce the strong demand for the US dollar in the country. Emefiele said Nigeria was not the only country that had agreed to a currency swap with China, as several other countries – developed and emerging markets – with growing trade volumes with China had entered into similar currency swaps with the Asian country. He said as the second largest economy in the world, more and more countries are turning to China for business, as the country seeks to make its currency a convertible global currency like the US dollar, the euro, the Japanese yen and British pound sterling. To buttress Emefiele’s point, information provided

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

by the Peoples Bank of China (PBOC; China’s central bank) showed that China had bilateral currency swap agreements with 31 central banks for varying sums as at the end of 2015. The countries are the United Kingdom, Belarus, Malaysia, South Africa, Australia, Armenia, Surinam, Hong Kong, Pakistan, Thailand, Kazakhstan, South Korea, Canada, Qatar, Russia, the European Union, Sri Lanka, Mongolia, New Zealand, Argentina, Switzerland, Iceland, Albania, Hungary, Brazil, Singapore, Turkey, Ukraine, Indonesia, Uzbekistan, and the United Arab Emirates, totalling RMB3.137 trillion. Emefiele said: “The agreement on the currency swap with China will definitely benefit Nigeria because the essence of the mandate is to ensure that Nigeria is designated as the trading hub with China in the West African sub-region for people who want the renminbi as a currency denomination. “Also for us, we believe that using the renminbi will improve trade with China, as this will encourage importers to open L/Cs in the Chinese currency for the importation of raw materials, equipment and machinery from China, rather than other trading regions, so the agreement will encourage trade between both countries.” But when reminded that trade between Nigeria and China was skewed heavily in the favour of China, he said: “On the reverse, we are working to encourage the export of raw materials to China in order to reduce the trade imbalance. “And we aim to become competitive by improving on infrastructure especially in the area of electricity and ensuring that credit is made available to manufacturers at concessionary rates.” Emefiele, however, declined to reveal how much Nigeria had proposed under the currency swap with China, saying that talks were still ongoing with the PBOC and would be concluded in the next few weeks. But a source in the presidency conversant with the talks revealed that the CBN had proposed a swap of RMB50 billion, about N1.98 trillion ($10 billion). “The Peoples Bank of China, however, is unlikely to agree to what was proposed, so we are looking at a swap somewhere in the region of RMB20 billon, which is about N792 billion to N990 billion ($4 billion to $5 billion),” the source revealed. Implication for Nigeria A Lagos-based CSL Stockbrokers Limited, in a report noted that the China swap deal would help to streamline Nigerian trade with the Asian country. They also stated that it would ease demand for the dollar and was expected to provide some relief to the parallel market naira/dollar exchange rates.

ANALYSIS

But the report pointed out that the deal does not alter the fundamental fact that Nigeria is running a current account deficit and will therefore still need investment inflows to stabilise the external accounts and stimulate the economy. “Looking first at the currency swap, this essentially entails an exchange of currency between ICBC (who receive naira) and the CBN (who receive yuan) at a pre-agreed exchange rate. The two entities will have agreed an interest rate on the swap as well until maturity when the currencies will be re-exchanged. “Prior to maturity, the CBN can supply Yuan to Nigerians importing goods from China while the ICBC can supply naira to Chinese importers of Nigerian goods. From Nigeria’s perspective, this helps importers overcome the challenge of accessing forex, something that has impinged the ability of many Nigerian firms to operate. “Importantly, Nigerian importers of Chinese goods (which form the largest share of Nigeria’s import basket) will now not have to buy US dollars to purchase goods from China as they will have some direct access to the Yuan. “More broadly, the swap deal does not alter the fact that Nigeria is consuming more than it is producing and that more forex (yuan, dollars or any other foreign currency) is flowing out the

current account than in. “This is reflected by a current account deficit. The swap therefore also does not change the fact that Nigeria will continue to rely on financial and capital account inflows to cover the shortfall in the current account. Until these flows are forthcoming, Nigeria’s external accounts and economy will remain under pressure,” the report added. But the chief executive of Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane, cautioned that what the deal has done is “to concentrate your trade in the hands of one country”. “With the deal, Nigeria will be using the yuan to import from China, while they (China) will use the naira to buy crude oil from Nigeria. And then they (China) will take the oil to sell in the market to get dollars. “So Nigeria’s dollar income will reduce and its imports from the rest of the world would also reduce. So Nigeria will be more dependent on China. That is all,” Rewane said. Rewane also disagreed with the CBN governor on the impact of the swap on the naira, stressing that the effect would be neutral. “It doesn’t change anything. The man who is going to import from the US, or the man who is going to import a car from Germany, will he

need yuan to buy it. We are only playing with mirrors. It does not increase the actual flow of dollars to Nigeria. It only means that our trade is more concentrated in Chinese goods and the Chinese with the naira they get from Nigeria when they buy oil,” the FDC boss added. But another economic analyst who did not want to be named, welcomed the currency swap, noting that in seeking foreign aid for the country, Nigeria’s policy makers over the years had allowed themselves “to be led into a blind alley by Nigeria’s Western masters and mentors”. He was of the opinion that by widening the scope of the country’s international friendship and in particular by the establishment of diplomatic, cultural, trade and other mutually beneficial relations with China, Nigeria had taken the right step. “The foreign policy of Nigeria should be independent and should be guided by the following principles: the promotion of economic relations with all nations of the world; co-operation with all nations of the world in so far as they respect the ideals for which we stand; respect for the sovereignty of nations and non-interference in their domestic affairs; and attraction of foreign assistance (capital, technical skills and training opportunities for Nigerians) on the most advantageous terms,” he said.

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

ANALYSIS

Where is the Economy Headed? With the present state of the Nigerian economy, Nume Ekeghe wonders if the country is not in recession

Market

Since this year, Nigeria’s macroeconomic indicators have not been encouraging. From inflation, which climbed to 12.7 per cent in March 2016 and a stock market that have plunged, the situation in the country has been discouraging. Also, the scarcity of foreign exchange and the insecurity in some parts of the country have all contributed to a spike in the prices of goods and services, especially household items. Looking back to 2008 when the world economy faced its most dangerous crisis since the Great Depression of the 1930s, there appear to be some similarities with what is happening presently as the economies of a lot of other countries are facing challenges as well. From Russia, Argentina, Venezuela, and even China, the story is the same. For Nigeria, oil price decline has put a strain on the capital inflow into the economy, pressure on the foreign reserves and exchange rate. Furthermore, there has also been an increased exit of foreign direct investments. According to the Nigerian Stock Exchange’s (NSE), monthly foreign outflows outpaced inflows, which was consistent with the same period in 2015. Total transactions at the nation’s bourse decreased by 17.87 per cent from N117.27 billion recorded in February 2016 to N96.31 (about $0.49 billion) in March 2016. In comparison to the same period in 2015, total transactions decreased by 47.66 per cent from the N184.02 billion recorded in March 2015. Also, the NSE figures had shown that domestic investors outperformed foreign investors by 28.48 per cent as total foreign portfolio inflows (FPI) decreased from 36.48 per cent to 35.76 per cent over the same period. The deteriorating macroeconomic environment as well as some earnings-constraining policies from both the monetary and fiscal

authorities has seen some commercial banks in the country gasping for breath. In addition, the persistent scarcity of forex in the economy as the Central Bank of Nigeria (CBN) continues to ration dollar supply through its demand management strategy has increased the risk that banks’ asset quality could deteriorate further. Also, this might cause a lot of the financial institutions to default on their international obligations to correspondent banks and maturing forex obligations in view of the challenges currently facing banks and businesses in the country. In 2015, the Nigerian economy grew by 2.82 per cent, compared with 6.23 per cent in 2014, signifying a major decline in economic activities across board. The issues surrounding the currency curbs introduced by the CBN and declining disposable income brought on by unpaid wages were responsible for the sluggish growth recorded in 2015. These emerged just as one of the biggest global rating agencies, Standards & Poor’s (S&P) revised the country’s sovereign credit outlook to negative from stable, just as the country’s total merchandise trade fell to N3.65 trillion in the fourth quarter of last year compared to N4.02 trillion in the previous quarter. In a note, S&P stated that Nigeria’s foreign exchange policy was creating dislocations in product and financial markets, adding that the negative outlook it assigned to Nigeria reflected the possibility of a downgrade in the coming 12 months, “if there is deterioration of Nigeria’s fiscal or external accounts.” Oil Prices From 1999 till early part of 2008, the price of oil rose significantly. This rise was due to the oil demand in countries like China, India and the United States. In the middle of the financial crisis of 2007–2008, the price of oil underwent a significant decrease after the

record peak of $145 per barrel it reached in July 2008. On December 23, 2008, the price of crude oil fell to $30.28 a barrel, the lowest since the financial crisis of 2007–2010 began. This price sharply rebounded after the crisis and rose to $82 per barrel. By January 31, 2011, Brent price hit $100 and slowly remained within the range of $90–$120 per barrel until it stared to decline in 2014 and furthermore reached its lowest pricing at below $27.67 a barrel in January, the lowest since 2004. It however climbed to $46 per barrel towards the end of April 2016. Analysts’ Opinions Speaking with THISDAY, the Head of Research at Afrinvest West Africa Limited, Mr. Ayodeji Ebo said: “We are not in a good place right now. It is really a disturbing time because most people don’t know what is next. Government is focusing more on medium to long term strategies while leaving out short term strategies that can help the economy. “Every economy thrives on businesses so it is imperative that government is specific on policies that would help drive businesses. Policies that would encourage importation of raw material should be put in place because as you know, some factories are shutting down and slowing down production as a result of these restrictions. Some of the challenges in the oil sector may be attributed to forex restrictions. So government should be flexible in that space.” Furthermore, he added: “On the fiscal side, we need to see the 2016 budget. The waiting we believe would soon be over and how the 30 per cent allocated to capital expenditure would be channelled to its purpose.” “Government should come up with strategies that would attract foreign investments liquidity. We need foreign exchange and we need to attract FDI‘s while we work on policies that

would reduce the demand and wasting of local production.” Also, a research analyst at WSTC Financial Services Limited, Mr. Tola Oni said: “The economy is in a slowdown phase both in the private and public sector. Private sector is affected by monetary policies by the CBN particularly forex restrictions and the fiscal policy are affected by government spending. “Most economies are driven by private sector and the policies are not market friendly. This slow-down phase is driven by monetary and fiscal policies. The monetary policy restricts capital and it affects confidence in the country which does not attract FDIs. I wouldn’t want to say we are headed towards a crisis but I believe something would definitely give.” On his part, a senior lecturer at the Department of Economics, Pan-Atlantic University (PAU), Dr. Bongo Adi said: “The economy is in a state of anomie. Government has not come out with any policy direction. There are no clear directions on anything and it is a big problem. “It is easy to say give elaborate plans but this government is short of details and the nitty-gritty. For example, they went to China and the news from the presidency came about an agreement, which included currency swap. The Central Bank of Nigeria and the Finance Minister are saying another thing, while the presidency is saying something else. “Government is speaking from both sides maybe they don’t understand the urgency or they are confused. A lot of people who supported this government are questioning their decisions. I have started to lose faith.” But when asked if the economy is headed towards a recession, he said: “I don’t want to be a prophet of doom but from every indicator, we are headed towards that direction.”

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

ANALYSIS

Why Govt Should Support Local Tile Producers With 25 years of robust business, Mallinson and Partners, a leading Nigerian tile producer has moved from trading to manufacturing and is seeking government’s support in order to add more value to the Nigerian economy. Ugo Aliogo and Jemaima Bolokor report Mallinson and Partners Limite is one of the leading tile manufacturing companies in Nigeria. As the third indigenous company in the tile industry, the company has built a solid track record for itself with the production of quality tiles for the Nigerian market and for export. The company, which is also involved in the manufacturing of building materials, and plastics products (such as chairs, stadiums, cups, and other plastics), has been waxing strong in the business of importation and distribution for 25 years. The plastic product company, which is known as Nispo plastics limited is a sister company of Mallinson and partners. The Chief Executive Officer of Mallinson and Partners Limited, Mallinson Ukatu, noted that the company has moved from trading to manufacturing due to the increasing needs of the market and the quest to attain a leadership position in the industry, adding that they maintain a good pricing system, efficiency, fast delivery and good customer feedback mechanism in order to win the hearts of customers. He explained that in the business of tile production, the location for outsourcing the material is very important, stating that they carry out the mining by themselves in order to know what they want for the finished products and “with this, we are sure of what we are using for our product.” “We have had incidences in the past where we want to use kaolin, then they will mix kaolin with weathered granite. This means there is iron content on this material, and you will not have best final product when it comes out. Another aspect is that we are doing a full body tiles which is known as certified tiles,” he added. Ukatu stressed that most people claim that certified tiles are ceramics tiles, clarifying that the certified tiles implies that the body will be the same, and the colour will not change. According to him, a pure ceramic tile which is glazed will certainly fade out after a period of time. He also faulted the public notion that China produces fake products, stressing that China’s products are good, depending however, on what quality the parties desire and also their knowledge about the product. “We have been doing business for the past 20 years and also been importing since 22 years. What this implies is that we know what we want; we have enough knowledge and

Most times they (Nigerians) will import wires from China and put Nigerian name on it, and a lot of people have been arrested on that. These people who do this have an understanding that Nigeria cables are better.You cannot manufacture products of low quality standards, when you are aware that Standard Organisation of Nigeria (SON) will inspect the standards and quality of what you are doing every fortnightly

Tiling

where to go to get the right product,” he said. Outsourcing of materials Speaking on the outsourcing of materials for tile production, Ukatu noted that most factories and industries outsource their materials from miners who are not well trained and would want to cut corners by giving the factory concerned low quality materials for production. “Tak is a material used for tile production, it is found in the North and Oyo state respectively. But the quality of tak from Oyo state might be good as the one from Niger state,” he added. He pointed that some of these small mining companies get this material and mix it up with other bad raw materials, which will affect the finished product. According to him, these companies carry out these sharp practices in order to make a living for themselves, “unlike in Europe, where a buyer is sure that a particular company is specialised in supplying a particular finished product”. “You could have vesper mixed with quos stone because in mining, stone can mix with other little materials. If you don’t have beneficiating machine, you cannot beneficiate out, then the iron content of this material will be higher and if you put it into your final product it’s going to have a problem in producing a good quality. We outsource our raw material in Nigeria, from Ogun, Sokoto, Katsina, and Oyo,” he explained. “The sharp practices in the industry are that the miners give you what is available by mixing it with different quality that are cheaper in order to give you the final product. For instance, if you want to buy dolomite, they will mix it with 20 percent Kaolin; therefore the quality will not be the same. We have tried as much as possible to have a Union on these sharp practices, but it has never worked out. If we had a Union, we will able to checkmate the activities of these miners and what they are offering. “Tile production has been in Nigeria for the past 30 years. But it was just two companies that have been in the business, before we came into the industry as the third indigenous industry. In the past, we had a government factory in Kano which produced Water Cisterns (WC) and there was also another one in Calabar,

but they stopped producing in the 70s and 80s. The only ones existing are those owned by foreigners, which have been in the country for the last 30-35 years. “Some of the things we import for tiles production are what we can also produce here in Nigeria with time. We have not seen what from government in terms of support apart from what Bank of Industry (BOI) is doing,” he added. Quest for government’s support Electricity is vital for industrial production and growth. It reduces the financial burden on industries to get alternative sources of power to carry out production, which is a huge challenge on production cost. If government supports industries with stable power supply, the heavy reliance on generators for power generation in industries will stop. Ukatu called for government’s support in the area of energy, noting that companies are using natural gas to power their generators, which implies that the factory cannot be operated without 24 hours stable power. “The natural gas is supplied by Nigeria Gas Company in partnership with Shell pipeline and other concessionaires,” he said. He expressed shock that the government is charging gas on foreign currency in a market that is 90 percent naira –controlled. He, therefore, urged government to give subsidies to gas in order to encourage local production, “gas is for 100 percent local production; therefore government should stop charging gas in dollars.” Ukatu further stated that the Manufacturers’ Association of Nigeria (MAN) has been trying to seek government support, on the need to power the industries with electricity and give them good prices on power to work with. He added: “If there is any further devaluation of the naira, the industries will shut down because we are been charged in dollars to pay the gas. This will definitely encourage importation immediately; therefore government should do something about this. “The union is not speaking with one voice. Most of the big industries are using gas; this is the reason why these industries are springing up in gas neighbouring cities with gas pipelines. The industries in the East cannot work because there are no functional pipelines there, apart

from the old pipelines done in 60s in Aba. It is not favourable running the generator with diesel at a high cost. We cannot run this tile factory in the East, unless there is 24hours electricity to run it. If power goes off for 1 hour, it might take another two to three days to restart production. “The industry is growing, but I believe government should encourage made-in-Nigeria goods by Nigerians. Frankly speaking, the goods produced in Nigeria are stepping up in terms of qualities. In the wire industry, Nigeria wires are of higher quality than the imported wires. “Most times they (Nigerians) will import wires from China and put Nigerian name on it, and a lot of people have been arrested on that. These people who do this have an understanding that Nigeria cables are better. You cannot manufacture products of low quality standards, when you are aware that Standard Organisation of Nigeria (SON) will inspect the standards and quality of what you are doing every fortnightly.” “The BOI is trying to give their best to industries, by bringing in machineries to support the industries. But if you are unable to get BOI, how will you start your factory with the current bank figure of 22 per cent? If it is not single digit, you cannot move anywhere. For first time comers in the industry, it is not easy to penetrate. I have funded my company with my personal money as a pilot plant. On the second expansion I did, I also used my money. It is on the second phase that we got government support through BOI. Accessing these loans has been very good.” He added that they are facing serious challenges in the industry, stressing that there are times when the gas pipe lines are been vandalised, which affects their gas supply and disrupt production follow. He added that the host communities can be an obstacle to production, by bringing up certain unfavourable laws and policies. “We have local customers, because we believe that what we produce will sell more in Nigeria and there is demand for it. We are doing export to West African countries, such as Ghana, Angola, Cameroun and we are trying to begin with Cote d’ Ivoire. We want to be a one-stop shop for building materials, just tile products, plastic industries,” he noted.

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

PERSPECTIVE

Emefiele’s Devt Focus Boosts Rice, Wheat Production Paul K. Adegboyega Recently, the Governor of the Central Bank Mr. Godwin Emefiele, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh were in Kebbi State to inspect wheat and rice farms under the Anchor Borrowers Programme of the Central Bank of Nigeria. Led by the Governor of Kebbi, Alhaji Atiku Bagudu, Mr. Emefiele and the team carried an on-site assessment tour of some the large farms operated by the over 70,000 farmers being encouraged under the program. Kebbi state is one of the largest rice producing states in the country. This year alone it is projected to produce about 1 million metric tonnes of rice making it a critical part of the Central Bank’s plan to stimulate local productive capacity so as to reduce food imports, reduce foreign exchange pressure on the naira, create jobs and grow the local economy. Speaking to journalists after the inspection tour, the CBN governor said “we have gone round the farms; we got to a place called Suru local government where over 12, 000 farmers were registered under the Anchor Borrowers Programme and over 40,000 kilometers of rice farms have been cultivated. We also stopped somewhere close to Suru where wheat is being harvested. Now we are seeing the reality in Kebbi, that wheat can be cultivated and grown in Nigeria”. According to him, 78,000 farmers have so far benefitted from the Anchor Borrowers Programme and the CBN gave them a minimum of N210,000 to cultivate a hectare of land. “Thirteen states would be involved in the rice programme particularly during the rainy season. We would begin from the South-east states of Anambra, Ebonyi, Cross -River, Benue and Plateau. We would also engage northern states of Zamfara, Kaduna and Katsina”, he said. The assessment tour is significant. It serves as practical proof that the CBN Governor beyond the rhetoric and policy prescriptions on stopping imports of goods that could be produced locally, building local productive capacity and creating jobs is indeed ready to step out of the comfort of his office into the heat of the real field to get the job done. The visit also shows his commitment and that of the federal government towards ensuring that the key objectives of the Anchor Borrowers Program are attained. That he is matching words to action and monitoring closely to see the translation of policy into farms on the ground in places far from Abuja is commendable. The country is in an emergency situation and the actions of its key policy drivers must be seen to reflect the urgency for quick action. Thus, all hands must be on deck and all sleeves rolled up to ensure that we move with speed towards the solution, which we all are now agreed on. Now, the Anchor Borrower’s Program which was flagged-off by President Muhammadu Buhari in November last year at Zauro, near Birnin Kebbi for dry season rice farming is one of the several CBN intervention programs that are designed to boost local productive capacity. It seeks to create economic linkages between farmers and processors, not only to ensure increased agricultural output of rice and wheat, but to also close the gap between production and consumption. Under the programme, the CBN has set aside N40bn out of the N220bn Micro Small and Medium Enterprises Development Fund to be given to farmers at single digit interest rate of nine per cent per annum. As part of the scheme’s offering, smallholder farmers are entitled to loans ranging from N150,000 to N250,000 to assist them in procuring necessary agricultural inputs like seedlings, fertilizers, pesticides, among others, to help boost agricultural outputs and productivity. So far the CBN has given out N4.9billion in loans under the scheme. A total of 78,581 farmers have been mobilized in Kebbi with a total of 570,000 direct jobs created in the process. Relatedly, about 70,871 rural

Emefiele farmers now own and operate bank accounts and captured under the Bank Verification Number (BVN) biometric project and timely supply of inputs to 73,001 farmers. It would be recalled that from January 2012 to May 2015 the country spent over 2.41bn dollars on importation of rice. This negative trend resulted in huge stock of paddy rice cultivated by local farmers and the low operating capacities of many integrated rice mills in the country. Relatedly, from the fourth quarter of 2014 to the third

Besides the Anchor Borrowers program which focuses on boosting rice and wheat production, the CBN has also implemented a series of direct financial interventions which are meant to stimulate growth of critical sectors of the economy. One of these is the N300bn Real Sector Support Facility (RSSF)

quarter of last year alone, Nigeria spent $1.14bn (N227.78bn), while rice imports drained $591.47m (N117.85bn). With the progress that is being made with the implementation of the Anchor Borrowers’ Program, the likelihood of Nigeria achieving self-sufficiency in the local production of rice and wheat seems more probable. It is also proving critics of Emefiele’s foreign exchange policies wrong and showing more than ever that a lot can be achieved in Agriculture if local farmers are given the necessary government support and incentives. It also shows that Nigeria has the capacity to produce most of the goods that it imports using its hard earned foreign exchange. Besides the Anchor Borrowers program which focuses on boosting rice and wheat production, the CBN has also implemented a series of direct financial interventions which are meant to stimulate growth of critical sectors of the economy. One of these is the N300bn Real Sector Support Facility (RSSF). One of the beneficiaries of this facility is Psaltery International Limited. The company which specializes in producing starch for breweries who before now relied on imported starch secured an N850 million loan which it has used to expand its operations, increase its output and increase its workforce. Other CBN strategic interventions in critical sectors of the economy include the N220bn Micro-Small and Medium Enterprises Development Fund; N75bn Nigeria Incentive-Based Risk Sharing System for Agricultural Lending – from where the Anchor Program is funded and the N213bn Nigeria Electricity Market Stabilization Fund whose aim to help stabilize the

electricity industry. The CBN has also set up a N50bn Nigeria Export Import Bank Fund and the N500bn Export Refinancing and Restructuring Facility with focus to boost the country’s exports. Not too long ago, the CBN disbursed N350 billion to the Nigerian Export Import Bank (NEXIM). The fund is meant to boost the country’s exports by proving low interest financial to local companies. All these are helping to bridge the financial handicap which has held down manufacturing growth for decades. It is estimated that the Central Bank has so far committed over 1.3trillion naira towards providing credit to the real sector of the economy. These historic initiatives that are being spiritedly pursued by the Central Bank Governor, with the active political support of the President, if continued and sustained within the next couple of years would help to greatly re-calibrate the nation’s economy, diversify its resource base and give it the necessary internal resilience to withstand external shocks especially as a result of the volatility in oil prices which we are currently experiencing. While the prices of oil in the international market have steadily inched up in recent times to record highs of $48 and there is a strong likelihood of it hitting the $50 mark, they can only help to bring temporary or short term stability to the current economic crunch. On the long term, it is only a domestic focused policy – like the one being implemented by Emefiele - that focuses on growing local industry, boosting local production would help to strengthen our economy and ignite sustainable growth. -Adegboyega is a policy analyst

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

NEWS

Geometric Power and the Nigerian Electricity Market

Power station Ikeogu Oke Recently the Minister of Power, Works and Housing, Mr. Babatunde Fashola, brokered a peace deal that resolves the issue of which company should supply electricity to the commercial city of Aba and its environs between Geometric Power Limited and Interstate Electric. The development should cheer every Nigerian. There had been a three-year feud between Geometric Power Limited with its main promoter as former Minister of Power Prof. Bart Nnaji, and a rival Interstate Electric said to have businessman and politician Sir Emeka Offor as its main promoter. Whatever the cause and details of this feud, the government of a country famished for electricity like ours should have seen it as unnecessary and counterproductive and so nipped it in the bub, reconciling both parties and harmonising their interests as Fashola has done, to facilitate the operationalisation of the Geometric Power plant and improve power supply in our country. But it is nonetheless gratifying that it has finally been resolved on terms satisfactory to both parties. With its resolution the cliché “better late than never” comes to mind. Undoubtedly, the government of former President Goodluck Jonathan did so much for our power sector for which it deserves credit, especially by drawing attention – perhaps more than any administration before it – to decades of infrastructural decay and underinvestment in the sector and the need to reverse these through the power sector reform whose road map it launched on August 26, 2010. Ironically, however, while the power sector reform canvassed for private sector

investment in the sector of which the yet-to-be-commissioned Geometric Power plant, an Independent Power Project (IPP), is a remarkable example, the government allowed its feud with Interstate Electric to linger for several years and survive it, essentially frustrating the quick operationalisation of the Geometric Power plant, even though the result of Fashola’s intervention shows that it could have terminated the feud at any time through negotiation and the exercise of political will. To have been calling for foreign investments in our power sector while we allowed what seemed to be an incubus of bad politics to hold down a rare example of such investment by one of our own was itself a case study in paradoxical messaging between word and action, in a world where action is said to speak louder than words. But that bad politics was not a cloud without its silver lining, for as C.Don Adinuba revealed in his recent piece published on page 18 of Daily Sun of April 11, 2016, entitled “Aba Power Project and National Development,” the former Director General of the Bureau of Public Enterprises (BPE), Ms. Bolanle Onagoruwa, in a rare exercise of moral will, withstood political pressure to disregard the agreement the government had signed with Geometric Power Limited, which gave the latter the licence to supply electricity it produces to Aba and its environs, to which the BPE was a signatory. In an intriguing turn of events, as recounted by Adinuba, the two business units owned by the Power Holding Company of Nigeria (PHCN) in Aba as part of the geographical area covered by the Enugu Electricity Distribution Company (EEDC) were handed over to Interstate

Electric on November 1, 2013, following the privatisation of the PHCN assets. “The handover,” he further notes, “flabbergasted many because the Bureau of Public Enterprises (BPE) displayed documents and published notices to prospective buyers of EEDC stating categorically that the two business units in Aba had been exercised (sic)” [for “excised,” I think] “out of the EEDC coverage area based on the 2005/6 Federal Government’s agreement with Geometric Power Ltd.” Alas, Ms. Onagoruwa lost her position as the BPE boss for resisting such impunity, fired, as Adinuba relates, by some powerful political entity unable to compel her to support a brazenly wrong act. And the silver lining – a clear and inspiring sign of hope – is the evidence, offered by her good example, that there are Nigerian public servants who can stand up for the right despite the risk of losing their positions, who can sacrifice their jobs for honour and conscience. The Geometric Power experience is a clear indication that it would take more than technical expertise, passion, commitment, and the willingness to make investments – which those behind the project have to very high degrees – for projects in our power sector to become successful and yield the expected improvement in power availability for our citizens. Such anomalies as undue political interference in the sector, apparently driven by vested interests and perpetrated by people capable of influencing public policy, will have to be eliminated if the sector must make genuine and sustainable progress. And the new government of President Muhammadu Buhari should be conscious of this, since it has listed power as one of its major concerns. I happen to have considerable knowl-

edge of the 188-megawatt Geometric Power plant located at Osisioma, near Aba, beginning with my first visit in 2010 to research a feature story on the plant commissioned by Toyin Akinosho for his magazine, Africa Oil + Gas Report. That was before I met Prof. Bart Nnaji. Again, I visited the plant in 2012 as a member of Prof. Nnaji’s entourage as Minister of Power which comprised his aides and the then Minister of State for Power and current the Governor of Taraba State, Arc. Darius Ishaku. I dare say that the Geometric Power project is a hallmark of entrepreneurial genius, with its location of a plant that produces the most vital developmental commodity in our country today close to a city which desperately needs the commodity to drive its renaissance as one of our country’s leading industrial and commercial hubs. But beyond its potential to prove that privately produced power can be affordable and good business, there is another nationally significant reason for which the operationalisation of the Geometric Power plant should be supported by our government and other stakeholders. Simply, as a pioneering venture, its operationalisation – and success – will be a major triumph for the can-do spirit of the Nigerian and encourage others to venture into private power production, which will improve the amount of power available to our people with overall positive impact on our wellbeing and economy. And it would be a shame for us not to make the most of such rare potential for inspiration and utility. -Oke was a Technical Adviser (Media and Communication) in the Presidential Task Force on Power

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

NEWS

Lafarge Africa to Raise N60bn Bond for Debt Refinancing Goddy Egene Lafarge Africa Plc is to raise N60 billion to refinance its debts and restructures its balance sheet for optimum performance in the years ahead. The N60 billion would be raised through second tier bond with short-to-medium tenors of two, three and five years. According to the company, the bond would be through book building process that will commence this month. Already Lafarge Africa has submitted application to the Securities and

Exchange Commission (SEC) and Nigerian Stock Exchange (NSE). The company said the net proceeds of the bond will be used to refinance the third party debts of a subsidiary company, United Cement Company Limited (UniCem). It explained that the fund raising is part of a co-ordinated plan to optimise the synergies from the recent integration of the South African and Nigerian operations of the group and the appointment of Michel Puchercos as new managing director/chief executive officer last week.

Puchercos, who has worked across the global operations of Lafarge Africa, is expected to drive the performance of the cement group. Lafarge Africa recorded a drop in turnover from N74.12 billion in first quarter of 2015 to N52.42 billion in first quarter of 2016. Gross profit fell from N24.95 billion in 2015 to N7.81 billion. Speaking on the outlook for the cement group, Puchercos said Lafarge Africa was poised to deliver better performance as its plant operations were stabilising, with gas utilisation accounting

for more than four-fifth of operations. “Overall, our plants are expected to deliver stronger operational results in future quarters of 2016,” Pucheros said. He said in spite of the macroeconomic challenges, the company will continue to deliver good performance with significant upsides to come as it concludes on the integration journey to form Lafarge Africa Plc. “The company’s new organisation is much stronger and better positioned to deliver operational excellence and improve value

to our shareholders,” Puchercos said. Puchercos, a graduate of Ecole Polytechnique and the National School of Rural Engineering, Waterways & Forests, France, joined Lafarge as Head, Strategy and Purchasing in Orsan, Lafarge Biochemistry, and in 1998 became Director of Cement Strategy and Information Systems, Lafarge Gypsum. In 2003, Michel became the Director of Cement strategy, Lafarge Group in France. In 2005, he moved into cement operations as the CEO for

Lafarge operations in Kenya and Uganda while doubling as the Chairman of Tanzania operations. While in this role, he was the Head of African Health as well as Supply Chain Management Committees for East and Southeast Africa. After four years in Sub-Saharan Africa, Puchercos moved to Asia as the President and CEO of Lafarge South Korea, where he remained for seven years. While in this role, he was also a Special Advisor to the Chairman as well as a Board Member at Aso Cement in Japan.

Union Bank Promotes Savings Culture in North Segun Awofadeji in Gombe Union Bank of Nigeria Plc has launched a progamme aimed at transforming the saving culture and build the economic power of the lowest income earners in Northern Nigeria. The Chairman of the initiative and Head, Retail Products, Union Bank, Mr. Arasaratnam Sheahan while inaugurating the programme in Gombe State recently, stated that the programme was meant to help the common man save at least N1, 000 per month with the assurance of earning cash benefits from the saving every quarter. He said, the programme, tagged: ‘UnionKorrect-Dai-Dai’ has been designed and targeted at 30,000 people in each of the 11 states of the northern region in other to assist in addressing economic hardship especially of those with low income.

According to him, the first phase of the programme, which would last for two years has an open period of six months from the time of official launching for beneficiaries to enrol. He revealed that not less than 900 beneficiaries were expected to receive cash benefits within the period of the programme. Other benefitting states include Adamawa, Bauchi, Borno, Sokoto,Taraba, Jigawa, Kebbi, Katsina, Yobe and Zamfara States. Head, Union Bank, Gombe branch, Chief Fatai Baruwa stated that the programme came at the right time when people were faced with hardship as a result the current economic down turn. He said Union Bank was aiming at providing services that are geared towards building the economic strength of the northern region and help in the economic growth of the society.

Nigerian Breweries Records N10.5bn Profit in First Quarter Goddy Egene Nigerian Breweries Plc has recorded a profit after tax (PAT) of N10.45 billion for the first quarter ended December 31, 2016. The unaudited results made available by the company to the Nigerian Stock Exchange (NSE) showed that the N10.45 billion PAT was four per cent higher than the N10.10 billion PAT recorded in the corresponding period of 2015. The company’s revenue for the period grew by 11 per cent from N69.92 billion in 2015 to N77.55 billion in the current period. A further analysis showed that the results from operating activities improved by 10 per cent from N16.37 billion in the first three months of 2015 to N17.99 in the corresponding months in 2016. Nigerian Breweries explained in a statement that the 11 per cent growth in revenue was a reflection of the company’s strong and effective route to market, increased sales during the festive Easter period as well as higher number of

sales days in the period as against the lower number of days recorded in the corresponding period of 2015 due to the general elections. According to the statement, despite the current challenging operating environment leading to consumer down-trading, rising inflation, increased cost of financing due to higher foreign exchange cost and increased input cost amongst others, the company was still able to return the four per cent increase in PAT. The increase in profit was also helped by the one-off merger costs incurred in the first quarter of 2015. The statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, further said although the board expects the operating environment in 2016 to continue to be very challenging, it remains confident that the company is in a good position to take advantage of any upswing in the market especially with its twin agenda of cost leadership and market leadership supported by innovation.

SUPPORT FOR MSMES

L-R: Group Head, Propositions and Products, Sterling Bank Plc, Mr. Adewale Akinrinde; Managing Director, Perfume World Limited, Princess Stella Daminabo; Business Executive, South South and South East, Sterling Bank Plc, Mr. Emmanuel Emefienim and Lead Consultant, Mark George Consultant, Mr. Olugbolahan Mark George at the MSME Academy organised in Port Harcourt … recently

NPA Keys into FG’s Economic Diversification Drive The Managing Director of Nigerian Ports Authority (NPA) Habib Abdullahi has said the agency has keyed into the federal government’s agenda to diversify the economy. He said the agency is now more than ever before focused on ways to encourage the export potential of agricultural products and solid minerals. Abudullahi who spoke in Lagos, said the ports are littered with empty containers, an indicative of the nation’s mono-product structure, which has been largely import driven in the past. “We can encourage people to export their agricultural produce and solid minerals as a way of helping to diversify the economy. The diversification will help to shift the focus from import to export, so we can take advantage

of the containers lying idle. This is one of the areas we think we can diversify and increase revenue thereby compensating for the losses from the oil sector,” he said. Abdullahi revealed that the NPA has already written a letter to the Federal Ministry of Agriculture and the Nigerian Export Promotion Council, to this effect. According to him, the agency is re-orienting the terminal operators to support this trend, while at the same time also strategising with the customs to see possible areas of engagement and collaboration to ensure some terminals can be solely dedicated to export. In his words: “We are trying to see how we can make Ikorodu an export port. We also have some interested parties coming

in to help our dedicated cause, for example, we have received proposals for Ilaje port in Ondo; they want to make the port dedicated to solid minerals.” On exploring new trade routes, like directing business to other ports in the country in order to reduce the pressure at the Lagos terminal, the NPA boss said though it is not a direct function of the authority to tell people to use any particular port as this is dependent on the exporter or importer, the agency is working at improving infrastructure across all the ports, hoping that government and the terminal operators will promote and encourage businesses to come and use them. While also debunking claims that importers tend to see the

Cotonou ports as cheaper and better alternative to the Nigerian Ports to import cars and other goods because of high charges, Abdullahi said “people don’t import their cars through Cotonou, they smuggle it which we know is ridiculous.” “People complain about port congestion and what that means is there is a lot of business. People say the port is expensive, if you compare it with others in the world, you will see that ours is one of the cheapest. If I ask you what the cost of importing in Cotonou is, people don’t even know how much it cost. But because of the general perception, people say that the Cotonou port is cheaper than Nigeria which is not necessarily true.

Buhari in Support of Consumer Rights Protection, Says Atoki James Emejo in Abuja The Director General, Consumer Protection Council, (CPC), Mrs. Dupe Atoki said she has the political will under the administration of President Muhammadu Buhari to implement the consumer rights protection law in the country. She also attributed the marked reduction in the flagrant display

of impunity by businesses and multinationals to the effective use of the council’s enabling legislation. Speaking in at the mentorship and business development programme of the Nigerian Bar Association (NBA), where she was also conferred with the Guiding Light Award by the association in recognition of her selfless and professional service to the country,

she said the use of the law had made the difference in her career. Atoki further noted that the council has prosecutory powers and could intervene in any sector of the economy to safeguard consumer rights when violated. She said while the CPC had no laws regarding consumer rights, it nonetheless has the powers to take existing laws of organisation and implement such

towards safeguarding rights of consumers. “If you use the law, consumers will be protected,” she said. She said:” Interventions in other problematic sectors will also be undertaken as we progress in order to alleviate the suffering of consumers”, stating that the strategy became inevitable in view of the widespread consumer abuses in the country.

T H I S D AY • WEDNESDAY, MAY 4, 2016

BUSINESSWORLD

NEWS

NCRIB Boss Seeks Immediate Implementation of 2016 Budget Stories by Ebere Nwoji The president of Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Kayode Okunoren, has urged the federal government to commence the implementation of the 2016 budget without further delay. Okunoren, who made the call at the April edition of the Members’ Evening of the council, held in Lagos, noted that it is disheartening that up till now, at the expiration of the fourth month of the year, government has not started implementing the budget. He said implementation of the budget, would provide succour to the current obvious sufferings of Nigerians. Okunoren also urged

political leaders to lead by example and ensure that their life style conforms to what they preach in order to get the desired support of the followers. “Whilst the citizens are enduring and sacrificing, the onus is also on the leaders to lead by example and ensure their lifestyle conforms to what they preach in order to get the desire support of the followers”, he said. The NCRIB boss noted that this is not the best of times for many Nigerians in view of the economic recession being experienced today. According to him, obviously, our economy is presently bedeviled by challenges such as unfavorable exchange rate of the naira against the US Dollars; spiral-

ing cost of goods and services that has constituted a hole in the pockets of Nigerians. He also said the rock bottom prices of crude oil in the international market and the gale of corruption manifesting in the mismanagement of the nation’s resources have worsened the plight of the country. Okunoren said it is definitely natural that a time like this would ordinarily task the patience of the citizens as already witnessed in the country today, adding the stand of the council is that there is need at this period for Nigerians to have more patience and cooperate with the present administration in ensuring the revival of the national economy.

“Realising that no one could proverbially eat an omelette without breaking an egg; Nigerians need to endure the temporary hardship for a better tomorrow,” “Whilst the citizens are enduring and sacrificing, the onus is also on the leaders to lead by example and ensure their lifestyle conforms to what they preach in order to get the desire support of the followers’’, he stressed. Okunoren, also spoke on the recent publication of list of 300 brokers that have satisfied the renewal requirements by the National Insurance Commission ( NAICOM), saying though rumour had made the rounds that only the 300 brokers on the list as at the first publication were the

only licensed operators in the market, a situation which he said sends misleading signals to the insuring public, the information is quite erroneous disclosing that the number has currently increased to about 314 members as at today. “Suffice it to note that it is the statutory responsibility of NAICOM to make public the list of practitioners who have satisfied their renewal requirement as they are cleared by the Commission. The list will keep coming in batches as not all brokers have the same renewal dates and that explains the differentiation in the period of the approval of their licenses by the Commission”, he said He also enjoined brokers who have not satisfied the

renewal requirements to do so to avoid penalty from the regulatory body. The April edition of the NCRIB members’ evening was hosted by the Zenith General Insurance Plc. Addressing the guest, Okunoren said, in spite of many challenges confronting members of the council in recent times, he expressed delight that Zenith General Insurance support, has continued to assist the council to navigate all the odds on its path. He appealed to brokers who are still maintaining apathy towards the council’s activities to have a change of heart, warning that they can only survive through constant bonding and exchange of ideas on a continual basis.

FG Moves to Address Poor Performance of Insurance The federal government is taking steps to address the current poor performance of insurance in the country, the Minister of Finance, Mrs. Kemi Adeosun, has said. She disclosed this at the just concluded West African Insurance Companies Association (WAICA) in Lagos, stressing that in line with the move to diversify and develop the economy, government believes insurance is a strategic tool that should be effectively utilised towards the attainment of the goal. Adeosun, who was represented at the event by the Director of Efficiency Unit in the Ministry of Finance, Mrs. Patience Oniha, said there is a strong link between insurance market development and economic development, adding that the commonly used index of measuring the development of insurance in an economy is market penetration which is the ratio of total insurance premiums to the Gross

Domestic Product. According to the minister, insurance contributes less than one per cent to the GDP; to change the ugly situation, she said the government was committed to identifying the challenges and taking steps to address the current poor performance of insurance in the country. “It is on this premise that in February, earlier this year, I inaugurated the Consolidated Insurance Bill Review Committee in a move that seeks to make the bill conform to the ideals of contemporary insurance practice as well as facilitate public awareness and consumer protection. “We are optimistic that the work on the bill and its eventual passage to law would positively change the face of insurance regulation and practice in our country, Nigeria,” she said.

NGA Inaugurates Study Groups to Propel Gas Development As part of its efforts to facilitate gas optimisation in Nigeria, the Nigerian Gas Association’s (NGA) Executive Council has established five study groups to spearhead research and explore viable methods to further develop the nation’s vast and untapped gas resources for domestic utilisation. Chairmen of the study groups were drawn from Seplat Petroleum Development Company Plc, Oildata Energy Group, Shell Gas Nigeria Limited and with advisory legal consultants. The groups cover natural gas transmission and distribution; industrial utilisation and power generation; domestic, commercial and transportation; environment, safety and health, as well as legal and fiscal. Commenting at the inaugura-

tion of the study groups, NGA President, Mr. Bolaji Osunsanya, said he was excited by the calibre and experience of the volunteers involved, and the vibrant enthusiasm they had shown for the task at hand. “The rejuvenation of the study groups encourages the self-development of our members, and establishes the groups as focal engagement points and drivers of the NGA’s pertinent objectives. More importantly, the key findings collated will significantly enhance the association’s advocacy capacity, and enable us better synergise with the government and other important institutions to promote the best technical, regulatory, and contractual practices,” he said.

OUR SCORECARD

L-R: Board member, Premium Pension, Mr. Idris Saeed; Independent Director, Premium Pension, Mrs. Mosun Belo-Olusoga; Managing Director, Premium Pension, Wilson Ideva and Chairman, Board of Directors, Aliyu Dikko at the annual general meeting of the company held in Abuja … recently

PenCom DG to Speak at Catholic Brothers’ Annual Lecture The Director General, National Pension Commission (PenCom), Chinelo AnohuAmazu, has been slated as the keynote speaker at this year’s edition of the Annual National Lecture Series of the Catholic Brothers United (CBU), scheduled to hold in Lagos. The year’s edition of the lecture, with the theme,” the Use of Pension Funds As a Catalyst for Economic Diversification” is the 17th in the series. According to the spokesman of the group, Mr. Chika Izuora, the theme is considered apt as Nigeria currently grapples with the challenges of acute infrastructure deficit needed to propel economic growth. He said the lecture aims at providing a national discourse on how the country can leverage on funds like the Pension Funds to accelerate economic development and growth. In her acceptance letter for the lecture scheduled

for June 26th, 2016, at the Mc Govern Hall of St. Agnes Catholic Church, Maryland, the PenCom DG said: “It is noteworthy that the CBU has sustained the practice of community development activities that have been uplifting the Church and the entire community. She said the event is one of such programmes that is worthy of commendation, adding the proposed topic of the lecture: The Use Of Pensions Funds as a Catalyst for Economic Diversification’, harmonises with the PenCom’s renewed efforts at ensuring pensions funds are channelled towards economic development through viable and safe investments. Also speaking, president of CBU, Emmanuel Uwukhor said financing infrastructure projects using pensions funds has been a major topical issue that has generated much controversies given people’s experience with the previous

pension scheme. He said it has become imperative to use the CBU platform to further clarify issues around such discussion as huge population of the Catholic community are subscribers to the Contributory Pensions Scheme (CPS) while others in the informal sector are itching to join the scheme. “What we want to achieve is to sensitise the teeming Catholic faith and also the general public on the need to understand the benefits of the CPS and how the initiative will lead to fruitful retirement.We know the family value system is collapsing and the average Nigerian is facing challenges, therefore early savings using this channel would provide them some relief at old age. He said the commission owes the society the responsibility as enshrined in its Corporate Social Responsibility (CSR) to educate them on government policies that aims to better their lot”.

He also said he is aware that the PenCom is leading a nationwide enlightenment which is robustly supported by Pension Operators Association of Nigeria (PenOp) in a new initiative to launch all Nigerians into the Pension Scheme via the Micro Pension Scheme. Uwukhor noted that with the new initiative, individuals would now have the rare opportunity to become pensioners that was exclusive of public officers and lately informal sector. Uwukhor expressed joy that PenCom has articulated the plan to attract 20 million Nigerians into the scheme by 2019 and 30 million by the year 2024, adding that such programmes as enunciated by CBU will go a long way to help realise the objective . He commended the PenCom for developing the initiative which is designed to have inclusive and expanded coverage.

T H I S D AY • WEDNESDAY, MAY 4, 2016

EDUCATION Advancing Education through e-Learning Members of the City Profs Educational Foundation, a non-governmental organisation, recently paid a courtesy visit to Vice-President Yemi Osinbajo in Abuja. Funke Olaode writes that their discussion centered on how e-learning can help advance the country’s education system It has often been said that education is the bedrock of a nation, and for developed countries that have witnessed rapid growth in their endeavours, the impact of education cannot be over-emphasised. Armed with this belief, people of like minds in the academic and private sectors came together in what they tagged ‘Vote for a Reading Culture’ through the establishment of community libraries with the aim of catching the pupils young. That was how City Profs Educational Foundation came to be. Launched nine years ago, encouraging a vibrant reading culture through pursuing community library initiatives, has been the main objective of the foundation. Initiated by Oluwole Oshiyoye, Bright Echendu, Collins Akpore and Babalola Olujimi, the goal at inception was to build an e-library across the six geo-political zones of the country. The foundation believes that the advancement of Nigeria’s education system will be enhanced through e-learning partnership. Apart from encouraging the reading culture, especially among young school children, the foundation believes that education broadens one’s horizon, as nurtured minds will affect a nation’s development. It has kept to its words over the years with spirited individuals who are committed to humanity. Today, the CPA-CLI prototype-model e-library, which started in Somolu, Bariga in Lagos, has spread to other areas like Ijebu-Imushin, Kosofe, Surulere, and the latest in Ikorodu. It has also spread its tentacles beyond Lagos as the e-library has been replicated in Ago-Iwoye, Ogun State and Ilara-Mokin, Ondo State. The project had come under the supervision and guidance of CPA-CLI, led by stalwarts such as Gen. Mobolaji Johnson, Prof. Grace Alele-Williams, Dr. Ernest Shonekan, Mrs. Remi Agbowu, Mrs. Essie Kukoyi and other committed staff members of the foundation. Recently, the foundation paid a courtesy visit to the Vice-President, Prof. Yemi Osinbajo at the Aso Rock Presidential Villa, Abuja. Among the delegates were Alele-Williams, Mrs. Oluwagbemiga Benson, Mrs. Agbowu, Mrs. Susan Omojokun, and Chief Olayinka Lawal Somorin. In her paper titled ‘Towards the Advancement of our Nation’s Education System through E-learning Partnership Initiative’, Alele-Williams said the idea of what is beginning to turn library to paperless across Nigerian communities was initiated by young men like Oluwole Oshiyoye, Bright Echendu, Collins Akpore and Babalola Olujimi, who she said desire to help children from under-privileged homes in a few schools to learn how to read and write good English. She said such a project, if steadily pursued, would influence several other children, especially those in primary schools, and they would learn to enjoy reading and improve their ability to communicate in English Language. According to her, the idea conceived then is gradually paying off as many children, especially the under-privileged have embraced the initiative. Alele-Williams added that in fulfilling the set goals, the logistics for about 100 children from about five schools in the Akoka area was worked out. “The idea seemed to be straightforward to carry out as the young men involved had been authorised by Mrs. Oluwagbemiga Benson, the then Executive Chairman of the Lagos State Universal Basic Education Board (SUBEB) to use a school. This discussion and change took place after the death of its founding patron and former Commissioner for Works, Lagos State, Funsho Williams. Williams had encouraged us to carry out some educational programmes in the school in Akoka before his demise. “The plan therefore was simple: to select a few children to learn, speak, read and write good English for two to three hours after every school day, and these were selected between

L-R: Chief Olayinka Lawal-Somorin; Prof. Grace Alele Williams; Vice- President Yemi Osinbajo; and Mrs. Remi Agbowu during a visit of members of the City Profs Educational Foundation to Osinbajo… recently

primary three and primary six. This plan also provided some supervision for the children after school. They deliberately tried to ensure that the children were from underprivileged homes and also tried to interest teachers from schools that could devote some days out of every week to this project. The remuneration of the teachers was a small stipend, not a salary; it was just a token we could afford to give them for their selfless service. “To carry out this programme, we introduced more friends into the project who would help with donations and gifts in order to provide some funds to assist the remuneration of the teachers. We wrote several letters to public and private institutions explaining the objective of the programme, several people responded in kind and cash to CPEF and thus the CPEF was established as a non-profit organisation.” Since its inception, the foundation has enjoyed massive support from prominent Nigerians, among whom are the board members such as Chief and Mrs. Olayinka Lawal (publisher and architect) who redesigned three classrooms and converted them into a functional library that would hold between 24 and 28 pupils and shelves for books. Several persons such as Shonekan; His Eminence, Anthony Cardinal Okogie; Obafunmilayo Johnson; Mrs. Abimbola Fashola, and Osinbajo assisted the project which was registered when the Akoka Library was known as Lantern while the Lagos State Government helped with each request through SUBEB. Enumerating the foundation’s achievements and how it has kept to its promise of the library initiative over the years, Alele-Williams commended Mrs. Remi Agbowu and Mr. Kole Funsho of Remick Promotion and Naston for their donation of a large library to the foundation. “The Nofisat Yeside Funsho Library built in Bariga, Lagos, was named after late Mr. Kole Funsho’s daughter, Yeside. This new magnificent library is the property of the community. The library is well used by six large schools surrounding it.” Following the success recorded, Dr. Michael Omolayole offered to have such a library in his hometown, Maj. Gen. Odunsi worked with the Ijebu-Mushin community, the chiefs and the people to establish a library in Ijebu-Mushin, Ogun State.

The initiative also has other ongoing projects in Ago-Iwoye (Ogun State); Ilara-Imokin (Ondo State) with the help of Chief Michael Ade Ojo, and Mrs. Susan Omojokun as facilitator; in Surulere, Kosofe and Ikorodu (Lagos State). Each of these libraries will be owned and managed by the communities. “We hope this will encourage more people to build small or large libraries which people and students in each community can use. We have also turned the sod for a vocational skills acquisition centre in Akoka, Lagos with the assistance of the state government and KOA Consultants Ltd. It is our hope that this centre will provide opportunities for young boys and girls to learn some vocational skills to enable them build their own small businesses in future.” Furthermore, Alele-Williams said in making the e-learning crusade effective towards the advancement of the country’s education system, the foundation needs government’s support in carrying out such public partnership projects it is currently executing. She stressed that the senior citizens need some financial assistance and encouragement from representatives in government such as federal ministers, governors, representatives in federal and state houses of assembly. This she said becomes imperative as children and teenagers who now form more than 55 per cent of the population are in dire need of guidance, counselling and direction. She said it could also encourage several activities in local government areas where the youth can learn something useful to themselves and their communities. “All our children must learn to read, speak and write English Language as well as one Nigerian language. The tremendous energy that the youth possess must be encouraged and channelled to ensure that young Nigerians can learn to work together and further help to build Nigeria,” Alele-Williams said. She added that to make the crusade of elearning effective, all states should be encouraged to build e-libraries in local governments. Responding, Osinbajo commended the governing board of the foundation for its work for humanity, saying, “I had the privilege of attending one of the commissioning events of the CPEF project in Lagos even before I became the vice-president and I am proud to be associated with the organisation as a member of the Board of Patrons.

“I have lots of respect for the Chairman, Prof. Grace Alele-Williams for her inputs on issues of national development, especially on our education system. I commend the courage of stalwarts such as Mrs. Essie Kukoyi, Dr. Micheal Omolayole, Chief Ernest Shonekan, and other members of the CPEF board. “The whole world is going paperless. Some years back, with the help of a United Kingdom company, we started an e-learning solution programme in some selected public schools to enhance learning using the electronic platforms. “We are happy to announce that the present Lagos State Government has been able to set up few viable virtual libraries across the state, but very insufficient to cater for the growing number of its students’ population. With tab devices, we would be surprised how many softwares can be downloaded to educate students on virtually all the subjects of life, including English Language, Mathematics, among others. “Hence, rather for the child to have access to few books, say five, he could have access to 50 or more books on e-platform. With the structural facilities of the CPEF we should be able to inculcate e-learning system with work stations, at least starting with one.” Osinbajo therefore called on well-meaning organisations, agencies of government and other NGOs to synergise with CPEF in its quest to develop e-learning to accentuate the federal government’s drive to upgrade learning to the jet age realities. He promised to personally lead the effort of government to encourage the organisation in any capacity to achieve the objectives of working “towards the advancement of our nation’s education system through e-learning partnership initiative.” Basking in the euphoria of a successful outing with the vice-president, one of the initiators of the foundation, Oluwole Oshiyoye, said the visit was timely, as it has been Osinbajo’s heart desire for libraries to go paperless. “With the calibre of stakeholders involved, I know we are on the right track. Osinbajo is a great patriot. He has been part of the foundation since 2006 and started the campaign and even set up a few e-learning systems in Lagos. He believes for the library to go paperless, all hands must be on deck and that is why all and sundry must support the e-learning partnership initiative of the foundation.”

T H I S D AY • WEDNESDAY, MAY 4, 2016

EDUCATION

Education Tax: Catholic Church Drags Ekiti to Court, Seeks Injunction Olakiitan Victor in Ado Ekiti Following the sealing off of some schools belonging to the CatholicDiocese of Ekiti over failure to comply with the N1,000 per pupil education levy introduced by the Governor Ayodele Fayoseled government, the church has sued the state government to court, describing the new tax policy as illegal. The Bishop of the Diocese, Most Reverend Felix Ajakaye, who decried the closure of seven schools

run by the church at a time some of them are preparing for the National Examinations Council (NECO) examinations, branded the government’s action as brutish and undemocratic. In an originating summon filed at an Ekiti State High Court by theIncorporated Trustees of the Catholic Diocese of Ekiti as claimants, against the Attorney General of Ekiti State, as well as the Commissioner for Education as defendants, the church formulated three issues for determination before

the court: Whether every child of primary school and junior secondary school age in the state is not entitled to free and compulsory basic education under Section 2 of the Compulsory Free Universal Education Act, 2004 and Section 19 of Ekiti State Universal Basic Education Board Law.”The church also wants the court to determine “if the imposition of education development levy or any tax or levy on pupils and schools in the state, including the claimants’ schools does not violate Section 2 of the

Compulsory Free Universal Basic Education Act, 2004 and Section 19 of Ekiti State Universal Basic Education Board (SUBEB) Law.”It prayed the court to determine whether the defendants could impose education development levy or tax on pupils and schools “without a law validly passed by the Ekiti State House of Assembly” in view of some sections of the Nigerian constitution. It contended that the defendants have no power to impose education

development levy or tax on pupils and schools and called on the court to restrain the defendants from further demand of the levy. Also in a motion on notice to the defendants in the suit number HAD/38/2016, the church sought a mandamus order directing the defendants to endorse and approve the applications of students of its schools for the 2016 NECO examination pending the determination of the substantive case.It also sought a similar

order for pupils in the various primary schools run by the church in Ekiti Diocese. Addressing newsmen on the development, Bishop Ajakaye said he was “concerned about the propriety of imposing any development levy on students in Catholic mission schools in the state, moreover when our schools are paying various levies and taxes demanded by both the local and state governments respectively.” “Very painful personally to me is that the students are writing exams

Education, Essential in Building Peaceful Society, Says Finland Ambassador Peace Obi The Finland Ambassador to Nigeria, Ms. Pirjo SuomelaChowdhury, has described education as a fundamental tool in building a peaceful society and that as an instrument for human capacity and national development; it empowers individuals with necessary skills and enables a country to benefit from the talents of its citizens. Speaking during an all stakeholders’ strategy conference on ‘Education/ Youth and National Development’, organised by some non-governmental organisations in partnership with the Federal Ministry of Youth Development and Sports, she said education enables people to make right choices and promotes positive social and economic development, among others. “There is no doubt that finding the necessary solutions; education is an extremely powerful and an absolutely necessary tool. It has the capacity to harness the positive energy of the youth, to benefit themselves and the society as a whole. And to make sure that all the potential and energy that they hold does not go to waste, but will go into building a bright future for them and their country. “It allows individuals to have a satisfying life with hope and prospects and a feeling of being in control. It makes individuals and society more resourceful and

resilient. It makes it much more difficult to lure people into destructive activities.” Describing the growing young population in Africa and Nigeria as a “youth bulge” and as an important aspect of development, peace and stability, Suomela-Chowdhury however noted that it comes with opportunities and challenges, adding that if young people are unable to benefit from the basic preconditions of a decent and satisfying life, it can also become a destructive force. “That can happen if young people do not have the opportunity to educate themselves, if there are no jobs, or if they do not have the skills to take up the jobs available, they feel powerless or excluded, instead of being in charge of their lives.” On how lack of education affects both genders, she said young men without prospects in life almost always means trouble and that girls and women experiencing lack of opportunity might become mothers when they should still be children or suffer from violence. Sharing her experience of the Finland education system and how the conscious development of the school system has steered up Finnish people’s confidence in education and the belief that it gives everybody an equal start in life, she said: “I guess we thought we cannot afford to overlook any of our talent. Education played a very big part in building our welfare society and the

The Director, Co-curricular Education, Dsitrict III, Lagos, Mrs. Aderonke Odunsi-Titus, winner of the Flipbook creative writing competition, Miss Funke Olufon and National President, Association of Nigerian Authors (ANA), Mr. Denja Abdullahi during a programme to mark World Book day... recently

Maltina Teacher of the Year Award Extended to Private Schools Uchechukwu Nnaike Teachers in private secondary schools across the country can now send in entries for the Maltina Teacher of the Year Award, as Nigerian Breweries Plc has announced plans to extend the initiative for a “stronger and more intense battle for the honours this year.” The award, which was launched last year through the Nigerian Breweries-Felix Ohiwerei Education Trust Fund, was limited to teachers in public secondary schools at inception and was designed to recognise, celebrate and motivate teachers in the country as part of the company’s continuous commitment to the development of education. The Corporate Affairs Adviser,

Nigerian Breweries Plc, Mr. Kufre Ekanem, who announced this while briefing journalists in Lagos recently, explained that the quality of the 2015 winner Mrs. Rose Nkemdilim Obi gave the organisers enough impetus to believe that teachers in public schools can match their counterparts in the private schools. He said collection of applications has commenced and will last till June 30, 2016, adding that interested teachers should download application forms from the Maltina website -www. maltina-nigeria.com. He said applications forms should be completed and uploaded to the website or sent by email to maltinateacheroftheyear@ heineken.com or post to PMB 12632, Marina, Lagos.

Like last year, he said all eligible applications will be subjected to an intense selection and judging process. “Our external and independent panel of judges will ensure transparency, credibility and objectivity of the initiative. The five-step evaluation process of the entries received will result in 37 champions (one per state and the FCT), subject to entries meeting the cut off mark set by the panel of judges. From among these state champions, the Maltina Teacher of the Year 2016 will emerge. All state champions and winners will be celebrated and rewarded in a grand ceremony on October 12, 2016 in commemoration of World Teachers’ Day.” Ekanem stated that like last

year, each state champion would get N500, 000 and the top 10 teachers will be recognised before the grand winners are announced. The second and first runners-up will receive trophies and an additional N750, 000 N1 million respectively. The Maltina Teacher of the Year 2016 will get an additional N1 million instantly in addition to N1 million every year for the next five years; a development training opportunity abroad and a block of classrooms built at the school where he/she teaches. “It is our hope that through the Maltina teacher of the year initiative, we can inspire this nation to accord our teachers their deserved credit and bring back respect to the teaching profession in Nigeria.”

but are only interested in how much they will be paid. Durosimi-Etti, who said his ministry would work with the private sector to fill the deficit in skills gap which will have a multiplier effect for every job created, expressed satisfaction with the meeting saying, “I cannot sit down in my office and look at the distrust some of these people have in government asking if it is going to work. How do I rekindle that

trust? It is a challenge but it only reinvigorates you more by way of having the passion to actualise your mandate and tell yourself that you need to get it right.” The Permanent Secretary in the ministry, Mr. Fola Padonu, who emphasised on the N25 billion the state governor approved to tackle unemployment and assist MSMEs to expand their businesses in order to create employment opportunities, said

Ministry Creates Employment Opportunities for Youths Funmi Ogundare The Lagos State Ministry of Wealth Creation and Employment recently held stakeholders’ forum/interactive session with the theme, ‘Equal Opportunities for all in a Competitive Environment’, where youths and artisans were enjoined to earn a decent living rather than engage in vices. The programme, held at

Badagry Town Hall, was part of the state government’s efforts to reduce unemployment among youths and create wealth for Lagosians. In his remarks, the Commissioner, Mr. Babatunde DurosimiEtti, expressed concern about the rate of unemployment in the state, saying that it is the major cause of insecurity in the country. “Unemployment started a long time ago. The

reason we have vices is due to unemployment. We have heard about the SURE-P and NAPEP programmes of the federal government which has not really solved unemployment problems. What can we do as a state? This is why the ministry of wealth creation and employment was created.” He disclosed that his ministry has created employment centres where skilled artisans can register,

adding that since Badagry is seen as a commercial town in the state, efforts are being made to ensure that the creation of jobs is being annexed by its youths. “It will open up opportunity for them. We also intend to train 100 people in software engineering, people must apply and sit for an examination and when they succeed, the best 100 will be selected and trained.” He argued that there are jobs available, but the youths are not ready to work,

T H I S D AY • WEDNESDAY, MAY 4, 2016

EDUCATION

Spelling Bee Competition: Taking Learning outside Classrooms The National Spelling Bee Competition, a Nigerian version of the Scripps Spelling Bee, USA has become a discovery ground where raw talents are nurtured and prepared to meet with other world class talents, Peace Obi reports

L-R: Second runner-up of the 2016 spelling Bee Nigeria competition, Daniel Ogwara of Aladunmo International School, Port Harcourt, Rivers state, winner, Miss Ruth Ejims of Shalom College, Port Harcourt, and first runner-up, MissTirenioluwa Adedipe ofThe Ambassadors College Other, Ogun state during the award ceremony, held in Lagos... recently There are some extracurricular activities that do not only unearth some latent talents in school children, but also strengthen participants’ overall performance in other academic activities. The spelling bee has proven to be one of such competitions that do not only give participants the privilege to win laurels, enhance their vocabulary, give them better understanding of grammar, but it also enables them to develop their knowledge with improved cognitive skills and confidence that will put them at par with their counterparts from any part of the world. With the introduction of the Scripps Spelling Bee an internationally acclaimed spelling competition that has existed for decades in USA through one its franchise holders in Africa- Young Educators Foundation (YEF) - Nigerians are optimistic that the exceptional and intelligent spellers which YEF has continued to discover among Nigerian children are on their way to participate in the Scripps Spelling Bee sooner or later. The spelling bee, which has been running in Ghana for about 10 years, was organized for the third time in Nigeria recently. Designed for students between eight and 13 years, it is aimed at inculcating the basic imperatives of effective communication, ultimately leading to improved spelling skills, development of poise, increasing students’ vocabulary, pronunciation, and accurate word usage. The YEF is committed to discovering talents and inspiring spellers whose understanding of the English Language, rudiments of the competition and cognitive skills present a competition and organisers who are equipped to discover and nurture global talents, competitors and achievers. Speaking on the expectations of the competition, the Country Director, Eugenia Tachie-Menson, said: “As a society, we need to have more things that allow our children to showcase their talents, especially when it comes to education. We also want the children to accept and understand that education is the basis for anything, even if you want to be a footballer, you must be an educated footballer, if you want to be a beauty queen, a model, you have to be an educated one. “As a society, we don’t place emphasis on this kind of education. When you talk about education, everybody thinks of classroom, books and pens, but we say education or

learning is not restricted to a classroom. We are not in a classroom right now, but our children are learning and we believe that we need to make education look cool. “The real point of the Spelling Bee Nigeria is to combine fun and friendly competition with academic challenge. We encourage every parent and school to participate in the spelling bee so we can imbibe the art of learning in a fun environment in our children.” On the processes of the competition, she said, “this year’s edition began with training sessions in Lagos and Abuja for teachers, where Scripps certified linguistic professionals took them through an intensive three-day training sessions. The training is designed to equip teachers who will in turn pass on their newly acquired skills to our spellers.” She said the competition enables the students to network, gain new knowledge, confidence, among others. “There are material benefits, but for us we look beyond material benefits. If you see how the programme runs, it is the child who does all the questioning. It is very un-African. Africans believe that children must not speak they are only to be spoken to. “But our programme encourages the children to do all the questioning. What does that do, it builds their confidence, they are able to speak to you; they look you eyeball to eyeball and ask questions, and for us that confidence is never taught but you nurture it. It is going make them understand the basis of words. We all use words in English Language without really understanding how they came about. The English Language has an origin; it is from 13 different origins.” The Programme Director, Mr. Akinleye Olu-Philips, said realising that Nigerian children need such an exposure with the potential of giving them access to be on the same pedestal with their contemporaries anywhere in the world, and armed with a franchise for Scripps Spelling Bee, USA, the competition was introduced in the country, three years ago. “Basically, what we are looking at is using this medium to build more confidence and inspire the African child. What we do is to promote literacy using the media for fun; we believe our children can learn more beyond the regular classroom. Speaking on the modalities of the competition, the host, Anwulika Ngene, said the

competition started from the regional and proceeded to state level at which point winners were admitted into the national finals. “For the national finals, we camped the children for two to three days in a hotel where they went through various activities. This year we had a mentorship programme for the children and we had some celebrities and authors who came and talked to them and inspired them. The round one of the competitions started in the camp, which was a vocabulary test.” Ngene said beyond teaching the children how to spell, the goal of her organisation is to build a complete Nigerian child. “It is not enough for you to be intelligent; you also have to have a good attitude. As Nigerians, our values are deep, we still believe in respect and our culture, so, we want a Nigerian child who is well grounded, have respect, be disciplined, know how to follow a process. We want them to learn life lessons. And you know part of the life lesson is that you can’t always get it right. You need to be able to fail, dust your feet and rise again.” The tough and tension-filled competition, which originally had nine states with 50 spellers jostling for the trophy, had the number plummeted to 23 instead of 25 after two contestants were tied at 26 over 40. The journey to success was not easy for the contestants as they gradually reduced from 23 to the last three that contested at the final. The 2016 spelling bee competition revealed some hidden talents among Nigerian children. Composed and determined, they asked the judges such questions as the origin of words, the parts of speech, repeat of pronunciation among others, they spelt words that many graduates of English Language may not spell easily. Spelling the word ‘Gagaku’ with a Japanese origin to emerge the winner of the competition was Miss Ruth Ejims of Shalom College, Port Harcourt, Rivers State. Miss Adedipe Deborah of The Ambassadors College, Ogun State and Master Daniel Ogwala of Aladumo, GRA Phase 1, Port Harcourt emerged the first and second runners-up respectively. Reacting to her victory, Ejims, who attributed her success to hard work, said even without knowing about the competition, she had always been reading books and dictionary which earned her the nickname ‘book worm’, ‘walking dictionary’, among others by her fellow students.

TheStonetheBuildersRejected Growing up in Nigeria, all around me, I witnessed people wake up in the morning, pick up their chewing sticks and work their gums and teeth. It was an evening thing too, a ‘step-down’ thing, after a hard day’s work. It was the thing to do, at night before bed, when cricket sounds have taken over. Back then in the 70s and 80s, I found it all revolting. It wasn’t just the unsightliness of the shafts from chewing, thrust onto pavements, spat just about anywhere! Rather, it was the bitterness of the chewing stick, when I braved to chew one myself. My grandma assured me that it was the best way ever, to wash your mouth. Not once did I hear her say she had a hole in her tooth or needed the dentist. Neighbours, relations, strangers, said the same thing too, but me? Not me, I was of the then evolving Nigerian white-collar generation, therefore I turned my back on chewing stick. It was too “local.” Now I know better Native chewing sticks contain super natural ingredients that are beneficial to the maintenance of your oral health. Chemical studies of native chewing sticks around the world show that they contain: fluoride, sodium bicarbonate, sterols, chloride, silica, vitamin C, volatile oils, tri-methylamine, flavonoids, tannic acid, Salvador, resins, among other beneficial oral-care ingredients. Essentially what all the “grammar” above translates to is that chewing sticks are loaded with antimicrobial, anti-inflammatory, anti-fungal, antiseptic, antibacterial and antiviral actions. In addition to these, chewing sticks massage the gum, energise the jaw, improve the efficiency of taste, eliminates mouth odor, replenishes the minerals in the dental tissues, helps your mouth to make more saliva, scrape off stain, whiten the teeth and provide super barrier for your tooth enamel. We now know in 2016 that chewing sticks are not less superior to modern day tooth brushes and toothpastes. Why not include chewing sticks in yours and your children’s oral hygiene today? Omoru writes from the UK

Kunike School Hosts Canadian Deputy High Commissioner Yinka Kolawole in Osogbo The management of Kunike International School, Osogbo, Osun State recently hosted the Deputy High Commissioner of Canada, His Excellency, Lajos Arendas, to enhance the existing relationship between the school and the country. Speaking at the ceremony, Arendas observed that if the school that was founded in 2013 is already doing well, the management must be commended. He urged the students to work hard, saying that the sky would be their limit if they are committed to their studies. According to him, there are many opportunities for them in Canada to further their education in any field of human endeavour and advised them to see themselves as leaders of tomorrow that would promote the socio-economic and political development of the country. Also speaking, the Assistant Inspector General of Police (AIG) Zone 11, comprising

Oyo, Ondo and Osun States, Mrs. Kalafite Adeyemi, urged the students to respect their parents at all times and to desist from criminal acts, especially cultism and drug abuse. She advised them to always give priority to their future, face their studies and stay away from all social vices that could tarnish the image of the country locally and internationally. In her remarks, the Proprietress of the college, Mrs. Adekunle Olanike, expressed delight with the visit of the Deputy High Commission of Canada and Adeyemi, adding that such visit would cement their relationship. She also disclosed that the Memorandum of Understanding (MoU), signed recently with the Canada school has been yielding positive results and that in July, about 15 students would attend a six week educational programme in Canada. She also commended staff and students of the college for their efforts in building the school to standard.

T H I S D AY • WEDNESDAY, MAY 4, 2016

EDUCATION

Education Financing: Legislators, Actionaid Besiege MTN, Protest Tax Evasion by Multinational Companies Adedayo Akinwale in Abuja Members of the National Assembly, as well as members of Action Aid Nigeria recently besieged the headquarters of MTN Nigeria during a protest march against multinationals in the country that were said to be in the habit of evading taxes. Addressing journalists at Unity Fountain, Abuja, the take off point of the protest, Senator Binta Garuba said across the world, campaigners of education are focusing on the theme ‘Education Financ-

ing’ and advocating for better funding to guarantee quality education for all. “We in Nigeria cannot fold our hands when we all know that we, more than any other nation, have major challenges surrounding funding for education in our country. “In 2015, UNESCO figures showed that 10.5 million Nigerian children were out of school. Yet we are giving away $2.9 billion annually by way of tax incentives and waivers, despite evidence that they are not necessary to attract investors. For today, even for

tomorrow, the unacceptability large number of out of school children in Nigeria portends great danger to all of us.” Garuba added: “What do we really mean when we chant the mantra ‘one of the fastest growing economies in the world’ if we are failing to educate our children, in which economy do we want uneducated children to partake in and how do we sustain an economy with a population we have failed to educate?” She stressed that the issue of adequate funding of quality education for the children must

receive urgent attention from the government, adding that there is need to fund education through a tax system that is not hampered by restrictive tax treaties, or unfair incentives and waivers. “Along with Action Aid, we call on the federal government during this global week for education 2016 to: stop granting harmful corporate tax incentives; stop excessively restrictive tax treaties; put in place relevant mechanism for curbing tax avoidance practices of multinationals and large corporations; and

spend increased tax revenue on financing education, especially for girls.” At the MTN headquarters, Garuba said Nigeria needs the multinationals to pay taxes so that the revenue could be used to provide quality education for youths in primary, secondary and tertiary institutions. Also lending his voice, a member, House Committee on Tertiary Education, Hon. Oduneye Olusegun said: “This is not a call on MTN alone, it is for all corporate organisations in Nigeria that we need your taxes, not just

taxes, but adequate ones to develop our education system; to develop our health sector; and to provide employment opportunities for Nigerians so that the issue of security will be a thing of the past, and all of us can live in peace in Nigeria.” Ms. Ifeoma Charles-Monwuba advised MTN and other corporate organisations that it is important, and morally right, and also part of their corporate social responsibilities to pay their fair share of tax and stop seeking legal measures to avoid paying tax in Nigeria.

Indomie Commences Search for Independence Day Heroes Uchechukwu Nnaike The search for Nigerian children who displayed exceptional bravery has commenced with the launch of this year’s Indomie Independence Day Award for Heroes of Nigeria (IIDA), sponsored by Dufil Prima Foods Plc. The Managing Director, Mr. Deepak Singhal, who officially kicked off the ninth edition of the corporate social responsibility initiative in Lagos with a call for entries, said the company would invest more money in the initiative to expand the scope and increase the numbers of winners. Singhal, who was represented by the Group Public Relations and Events Manager, Mr. Tope Ashiwaju, said the main objective of the award is to identify, recognise and celebrate Nigerian heroic children, who have exhibited acts of heroism and bravery at one point or the other. “We believe that they need to be identified and celebrated publicly in other to encourage and inspire more selfless acts in these children, who would tomorrow hold various leadership positions in the country and to reestablish the need for timeless values in the mind of the younger generation.

“The Indomie Independence Day Award for Heroes of Nigeria has so far recorded huge success in the last eight editions producing a total of 24 winners, who were rewarded with scholarship prizes worth several millions of naira which has impacted the lives of the awardees positively.” He said this year as against the first, second and third rating adopted in previous editions, there would be three entry/ recognition categories, adding that the three lucky winners are expected to win N1 million worth of scholarship each- one winner from the each award category. Explaining each of the category, Singhal said the physical bravery award will acknowledge children (15 years and below) who at great personal risk, save lives, or by their actions prevent extensive damage to property or others. The social bravery award category will recognise children who work against social ills such as child marriage, illiteracy and environmental concerns in a sustained manner. The intellectual bravery award will recognise children with innate ability and performed remarkably despite physical, mental, emotional or financial limitations.”

Ebonyi School of Health Matriculates 525 Students Benjamin Nworie in Abakaliki The Ebonyi State School of Health Technology, Ngbo has matriculated 525 students for the 2015/2016 academic session into the three accredited departments, Environmental Health, Community Health and Health Information Management. In his remarks at the ceremony recently, the Principal of the school, Emmanuel Okoro, charged the students to take their studies seriously, saying that the management is determined to erase the impression that the school’s

certificate is easy to secure without hard work. He explained that the school is undergoing transformation and commended the visitor, Governor David Umahi for his disposition towards the health sector. The governor, represented by the Commissioner for Health, Dr. Daniel Umezuruike, said the state government is preparing a bill to upgrade the school to a diploma awarding institution. He urged the management not to relent in the transformation of the institution, adding that the infrastructural challenges facing the institution are receiving attention.

Lagos State Deputy Governor, Dr. Oluranti Adebule (right); presenting a letter of provisional approval to one of the beneficiaries and proprietress, Vintage Nursery and Primary School, Okokomaiko, during the presentation of letters of provisional approvals to 114 qualified proprietors/owners of private primary/secondary schools...recently

Rhema Varsity Graduates 44 at Maiden Convocation Emmanuel Ugwu in Umuahia The Rhema University, Aba, Abia State recently held its maiden convocation, where it graduated its first and second batches of 44 students, who were awarded degrees in various disciplines. A breakdown of the graduands showed that three of them made first class; 22 made second class upper division; 28 second class lower division; while one made third class. In his address, the ViceChancellor, Professor Ogbonnaya Onwudike, said the institution founded by the Living Word Ministry has been firmly rooted as a full-fledged conventional private Christian university

focusing its attention on “training, nurturing and equipping her students for excellence in academics and moral upbringing.” He attributed the institution’s growth to the “courage, faith, determination and visionary leadership” of the Chancellor and President of the Living Word Ministry, Emma Okorie, as well as the commitment of the entire membership of ministry. According to him, the university adheres to high moral and academic standards in line with its motto: ‘Equipping Humanity for Excellence”, adding that nine degree programmes, which are all accredited by the National Universities Commission (NUC) are currently offered by the

institution. “The university is equally working hard to mount many more programmes including our medical courses. The degree programmes are for now run in two colleges (Basic and Applied Sciences and Management and Social Studies) and a School of General and Entrepreneurial Studies.” Onwudike added that the university has set up Microsoft IT Academy “to professionally deliver various capacity development courses leading to international certifications in Microsoft, Oracle, Cisco, ComPTTA, among others”. He stated that the certificates awarded by the academy “equip individuals with cutting-edge

skills which are in high demand by employers of labour”, is open to the public as the Microsoft IT Academy is not only for the benefit of students of the university. In his remarks, Okorie expressed delight that his vision to establish a university has become a reality as the NUC gave him a provisional license in 2009 and full operational license in 2015. “My foray into the area of education came in 1985 when God gave me the burden to build a school where teachers will not go on strike and where children will be trained and raised with emphasis on academic excellence and Godlycharacter development.”

Lagos Renovates Ilupeju Public Library The Lagos State Government, through the office of the Special Adviser, Education has completed the renovation of the Ilupeju Public Library, through a partnership with Custodian and Allied Insurance Plc, as part of the government’s adopt-a-library initiative, aimed at ensuring ease of access to knowledge to Lagosisans. The library renovation

included an overall upgrade of the facilities to enhance its ambience and make the space conducive as a knowledge centre in the Ilupeju axis. The upgrade also included installation of computer systems for public use, as well as a solar powered inverter to ensure uninterrupted use of the facilities. The library will be reopened this month.

Similarly, renovation will soon commence on the eCentre Library, Lagos Island and Badagry Public Library. The Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh said, “access to knowledge is a priority of this administration,” adding that the initiative falls under a tripod pillar of access to knowledge,

which includes project 350, a public-private-partnership initiative to build and upgrade libraries and ICT centers in secondary schools across the state; and the creation of an online library which would serve as an education portal and a repository of knowledge. He reiterated the state government’s commitment to building a Lagos that works for all.

WEDNESDAY, MAY 4, 2016 • T H I S D AY

CITYSTRINGS Stanbic IBTC Takes on Malaria

Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com

In commemoration of World Malaria Day recently Stanbic IBTC PLC in partnership with Slum2School Africa, organised free medical tests, distributed mosquito treated nets and drugs to disadvantaged school children. Peter Uzoho who was there, reports

Participants at the event in Lagos

s if they understood ahead, the import of the intervention by unknown bodies, recently, the pupils of Adekunle Nursery and Primary School, Makoko, Yaba, Lagos State, were seen in their mixed attires, playing as a mark of their excitement for the upcoming event. Whether they understand the differences in their sexes was out of question, as they jumped upon one another with no caution. Their teachers were preoccupied with helping to arrange things for onward commencement of the occasion, so they had time to play unrestrained. As peculiar to them, they would quarrel in the process and would settle before the blinking of an eye. However, being children who live in the slum, whose health on daily basis, is threatened by the malaria scourge, they were selected by concerned corporate and humanitarian organisations, Stanbic IBTC PLC and Slum2School, for treatment to stem the malaria scourge and in the process ensure that children and other community members in Makoko remain healthy. The event began as the children were led to settle on their seats. They were distributed with cards as proof of their attendance and identification amidst rush. Similarly, the staff of Stanbic IBTC, Slum2School, parents and other guests’ presence were recognised. Spicing up the event, a health educationist took the children on a discussion on the malaria sickness, its causes, prevention and control. Afterwards, distribution of mosquito treated nets, medical test and dispensation of drugs by the medical team of Slum2School Africa Organisation, followed

chronologically. Speaking on the side-line of the event, the Head, Marketing and Communications, Stanbic IBTC, Mrs. Nkiru Olumide-Ojo, said the distribution of the mosquito nets and similar interventions are Stanbic IBTC’s contribution towards ensuring that Nigerians, especially, the vulnerable children are free of malaria infection. Olumide-Ojo noted that the corporate social investment philosophy of the bank focused on

We are full of appreciation to Stanbic IBTC and Slum2School for their efforts to ensure that our children, pregnant women and other members of the Makoko community enjoy good health. The malaria awareness talk and mosquito nets distributed last year helped in boosting our health and increased school attendance because our children are no longer staying away from school due to malaria

three key pillars of: education, health, and economic empowerment for the general well-being of the people, adding that Stanbic IBTC was determined to, in line with the 2016 theme for World Malaria Day, ‘End Malaria for Good’, eradicate malaria and other forms of diseases through appropriate interventions. She further said that through the intervention, children, irrespective of their social status or circumstances, would be diseases free so that they can concentrate on their education and live a higher quality life. “Stanbic IBTC is a socially responsible organisation. We have a CSI value focused on the three key pillars of health, education and economic empowerment. Through this intervention, we hope to ensure that our children, irrespective of their social status or circumstance, are diseases free so that they can concentrate on their education and eventually live a higher quality of life,” said Olumide-Ojo. However, she enjoined the pupils to ensure they imbibe cleanliness as a habit and use their mosquito nets as a preventive measure against malaria. Although she observed that malaria remains prevalent in Nigeria, but assured that Stanbic IBTC would continue to support initiatives that would help to eradicate the disease and the likes in the country. On his part, the Team Lead, External Relations and Partnership Department, Slum2School Africa Organisation, Mr. Oluchukwu Banye, said “we are having this in partnership with Stanbic IBTC Bank PLC in commemoration of our medical outreach programme. They are partnering with us to provide mosquito nets and some clinical, and we are handing out those things to the

children, who are the beneficiaries. And also, children who are diagnosed to have one form of illness or the other would be attended to by our medical team, in the adhoc clinic that we set up in the school for that purpose. “The vision of our organisation is to transform the society by empowering disadvantaged children to realise their full potentials. We are a non-profit organisation that is in the educational sector, so we want to contribute to the development of Africa, through its human capital resources. And we decided that it will be a good start if we begin with the disadvantaged children, and the slum settlers are one of the people that we can classify as being disadvantaged people. One of the teachers in the school, Mrs Philomena Kayode, who helped to coordinate the school children and distribution of the mosquito nets, thanked Stanbic IBTC and Slum2School for their kind gesture. She said “the mosquito nets distributed last year helped to boost school attendance among the pupils, as malaria-induced absences have drastically reduced.” Kayode, however, called on other corporate organisations to emulate the commendable gesture. “We are full of appreciation to Stanbic IBTC and Slum2School for their efforts to ensure that our children, pregnant women and other members of the Makoko community enjoy good health. The malaria awareness talk and mosquito nets distributed last year helped in boosting our health and increased school attendance because our children are no longer staying away from school due to malaria. We are calling on other organisations to emulate this worthy gesture,” she said.

WEDNESDAY, MAY 4, 2016 • T H I S D AY

PERSPECTIVE

GeneralBuratai:AnEncounterwithaSoldier'sSoldier Yushau A. Shuaib On December 12, 2015, my phone displayed missed calls from the Army Spokesperson, Colonel Sani Kukasheka Usman. Such missed calls from security spokespersons, can signify ‘fire on the mountain.’ I had been in Maiduguri the previous week on a special assignment where I encountered a team of Lt. General Tukur Buratai, the Nigeria’s Chief of Army Staff. They had been regular in the North-east zone probably in anticipation of meeting the presidential deadline to rout Boko Haram terrorists by December 2015. There is this general impression of Buratai from not only his team but ground troops and the local community who refer to his exemplary conduct of humility, simplicity, probity and integrity. A son of a soldier, General Buratai is a Soldiers’ Soldier who is passionate about soldiering. I gathered that he hardly stays in the cosy Army Headquarters but at the battlefield coordinating military offensives against terrorists. Rather than merely directing the commanders, he leads in some daring military campaigns of pursuing terrorists, recovering villages and rescuing captives from Boko Haram’s dens. His troops have become accustomed to his trademark infectious smile and can readily vouch for its genuineness. They are also at home with the fact that his words are constantly reassuring and his promises especially on welfare are kept. In the thick of the battle, he stays close to his troops, interacts, eats and sleeps with them - a risky undertaking for his rank and position. But like a leader who matches his words with actions, he does that to prove his sincerity and share in their critical moment of sacrifice for the nation. When I returned the missed call on that Saturday, Colonel Usman Kukasheka narrated an incident that happened in Zaria when the convoy of Chief of Army Staff on a courtesy visit to Emir of Zazzau was obstructed by protesters. As we were talking his line went off and I could not reach him again. I reached out to an embedded journalist in the convoy who narrated the incident. He said that some miscreants blocked the convoy of the Chief of Army Staff and that they remained adamant despite the pleadings and admonitions of Col. Usman and other senior officers who pleaded that they allow the convoy a passage. The journalist disclosed that General Buratai had cautioned his team not to shoot but to plead even when the protesters were shouting and brandishing arms like knives, catapult and clubs, in most provocative manner against the military convoy. He added that “The officers prevented the Army Chief from stepping out of his vehicle, to avoid being harmed by the protesters…” I therefore sent a text to Colonel Usman requesting for an official Press Release on the

There is this general impression of Buratai from not only his team but ground troops and the local community who refer to his exemplary conduct of humility, simplicity, probity and integrity. A son of a soldier, General Buratai is a Soldiers’ Soldier who is passionate about soldiering. I gathered that he hardly stays in the cosy Army Headquarters but at the battlefield coordinating military offensives against terrorists

Chief of Army Staff, Lt-Gen. Tukur Buratai

incident for syndication by PRNigeria which he obliged with photos and video clips from the incident. After the episode of December 12, 2015 with fewer casualties, the following days witnessed unfathomable confrontations that claimed over 300 lives of men, women and children, based on official estimates by Kaduna State government. Many had expected an immediate response from the government. In the previous administration of Goodluck Jonathan where similar incident occurred in July 2014, the former National Security Adviser and Sokoto Prince, Sambo Dasuki led a government delegation to empathise with the community, sympathise with the victims and condoled Sheik Ibrahim ElZakzaky whose children were also killed then. At that time, the then opposition leader, Nasir El-Rufai tagged the incident “Genocidal Jonathanian Army kills Once Again” on his facebook page. But as a governor of the state one year after, his (ElRufai) state officials were prompt in demolition of residence, institutions and places of worship belonging to the Shiite group. Meanwhile before the December incident in Zaria, there were some official releases by the Army that cautiously warned about attempts by undesirable elements to frustrate the war on terror. For instance, the Army Press Release of September 8, 2015 disclosed that it had “uncovered plans to thwarts efforts on War on Terror” by some organisations to create situations for human right abuse. In another Press Release of September 25, 2015, the Army warned “prominent individuals and political groups who hailed from Borno State in particular and North-east generally… over plans to undermine and scuttle the fight against terrorism and insurgency in Nigeria.” It went further to state that the individuals and groups “are employing the services of

marabouts and other unethical means in order to frustrate our efforts and the operations in addition to campaign of calumny.” Similarly, there was also a final warning to terrorists in October 20, 2015, where the Army cautioned “All Boko Haram terrorists wherever they are, to desist from all acts of terrorism, surrender themselves and face the law (and that) … failure to surrender will result in serious consequences as our troops have closed up on them.” Finally, on November 23, 2015, the Army issued an alert on impending smear campaign by some disgruntled elements. The release clearly stated that “The Nigerian Army has received report of some elements both within the Nigerian Army and outside… to ridicule the Nigerian Army and the person of the Chief of Army Staff for reasons best known to them. They intend to execute this plan as from next month, December 2015, using all means possible….” The release also alluded to the existence of fifth columnists in the system when it added that “the Nigerian Army has identified some of the officers involved and their collaborators. The officers are being investigated to unravel their motive and motivation.” Going by those warnings and alerts, could it not be possible that some undesirable elements infiltrated the protesters in Zaria by acting the ugly script since the Shiite group are claiming that they had been holding such processions and demonstrations for more than 30 years? Can the speedy action of Kaduna State Government in the demolitions of Shiite’s places have other motives? Apart from the military presence could there be some unknown forces remotely triggering the reported carnage? Were some members of the community who are now blaming the Shiites for nuisance in Zaria be directly or indirectly involved in the whole shoddy incident?

I was delighted to accompany the management of Centre for Crisis Communication (CCC) on a visit to the Chief of Army Staff in Abuja last week with the hope that General Buratai would say something on the issue. During our interaction however, the quintessential General narrated the successes of the military campaign in the North-east and other initiatives on human rights compliance in the armed forces. When the issue of Zaria incident came up, his countenance changed: his head bowed with jaws resting on his hands. For some seconds the room was silent. When he raised up his head, looking towards our direction, his smile had disappeared, and with emotion, he merely said: “I don’t want to join issue with anyone…. But I must state that by our culture and professional training, soldiers don’t just attack anyone arbitrarily without provocation and justification. We abide by the rules of engagement which guide every action we take. We have a responsibility to protect our citizens from insecurity and impunity. “We have been fighting terrorism with all our might, spirit and energy and would avoid anything that will distract our efforts.” “How can anybody accuse a responsible armed agency of government of murder? On the contrary, the people were attacking the soldiers with petroleum bomb and other weapons. In actual fact, not all of them knew how to handle Molotov they were trying to use against the Army and it back fired on them.” After his words, I realise that there is an urgent need for a thorough, independent and unbiased investigation on Zaria carnage to unravel the mystery behind the sad incident. Shuaib is an author, public relations practitioner and freelance commentator on national and international issues

WEDNESDAY MAY 4, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 4, 2016

T H I S D AY • WEDNESDAY, MAY 4 , 2016

BUSINESS/MONEYGUIDE

Moody’s Downgrades Nigeria’s Sovereign Issuer Rating to ‘B1’ Obinna Chima Moody’s Investors Service has downgraded Nigeria’s long-term issuer ratings to B1 from Ba3 and has assigned a stable outlook, concluding the review for the downgrade that was initiated on March 4th 2016. The key drivers of the rating action were increased external vulnerability brought about by the prospect of lower-forlonger oil prices; execution risk in the transition to a less oil-dependent federal budget, and the implications for the government’s balance sheet should it not achieve its aims; and an elevated interest burden over the next two years while the government grows its nonoil tax receipts. According to a statement, the stable outlook reflects the fact that Nigeria’s credit fundamentals will continue to compare favorably with peers at the B1 level, despite the likely further deterioration in the country’s credit metrics due to the oil price shock.

Concurrently, Moody’s lowered Nigeria’s long-term foreign-currency bond ceiling to Ba3 from Ba2, the long-term foreign-currency deposit ceiling to B2 from B1, and the long-term local-currency bond and deposit ceilings to Ba1 from Baa3. “The first driver of the rating action is Nigeria’s increased external vulnerability. Assessed against Moody’s scenario of lower-for-longer oil prices, Nigeria’s external accounts have come under more pressure than expected since our rating affirmation in December 2015. “The country registered a balance of payments deficit of 1.4 per cent of Gross Domestic Product (GDP) at end-2015, owing largely to its first current account deficit (3% of GDP) in over a decade. As a result, foreign currency reserves dropped by $6 billion to $28.4 billion last December and as of April 4, forex reserves were lower still at $27.7 billion. “Moody’s notes that the government’s policy response alleviated some of the external

pressures: the Ministry of Finance adjusted the budget further, while the central bank devalued the currency to N197/$1and imposed foreign currency restrictions and soft capital controls. However, the central bank’s measures have also hampered economic activity as a number of sectors rely on access to foreign exchange for their ongoing operations. “Should oil prices remain low, pressure on the exchange rate is likely to continue, evidenced by the persistence of a parallel market for dollars. Although the government says that the soft capital controls are temporary, they have nonetheless deterred foreign investment -- foreign direct investment (FDI) inflows halved from 2014-15 while portfolio net investments have fallen by a multiple of 5 since 2013, from $13.6 billion to $2.5 billion in 2015. We still forecast a moderate current account deficit in 2016 of 2.3% of GDP and a likely further decrease in FX reserves to $25 billion,” it added.

Nigeria’s Manufacturing Index Declines in April Obinna Chima The Manufacturing Purchasing Managers’ Index (PMI) dropped to 43.7 per cent in April 2016, compared to 45.9 per cent in the preceding month. This implies that the manufacturing sector declined at a faster rate during the review period. The PMI report for April 2016 posted on the Central Bank of Nigeria’s (CBN) website, of the 16 manufacturing sub-sectors, 12 recorded decline in the review month in the following order: furniture and related products; paper products; primary metal; electrical equipment; computer and electronic products; printing and related support activities; fabricated metal products; plastics & rubber products; textile, apparel, leather and footwear; petroleum and coal products; chemical and pharmaceutical products and food, beverage & tobacco products. The remaining four sub-sectors however recorded expansion in the following order: appli-

ances and components; cement; nonmetallic mineral products and transportation equipment. The manufacturing and non-manufacturing PMI report on businesses is based on data compiled from purchasing and supply executives. The survey responses indicate that there is change or no change in the level of business activities in the current month compared with the previous month. For each of the indicators measured, the report showed the diffusion index of the responses. The diffusion index is computed as the percent of positive responses plus one-half of the percent of those reporting no change. The composite PMI is then computed as the weighted average of five diffusion indices; production level, new orders, supplier delivery time, employment level and raw materials inventory, with assigned weights of 25 per cent, 30 per cent, 15 per cent, 10 per cent and 20 per cent

respectively. “At 42.7 per cent, the production level index for manufacturing sector declined for the fourth consecutive month, but at a faster rate than that recorded in March 2016. Of the 16 manufacturing subsectors, 10 recorded decline in production level during the review month in the following order: primary metal; furniture & related products; electrical equipment; paper products; plastics & rubber products; printing & related support activities; fabricated metal products; textile, apparel, leather & footwear; petroleum & coal products and chemical & pharmaceutical products. “The computer and electronic products and food, beverage & tobacco products sub-sectors recorded no change. The remaining four recorded growth in production level during the review month in the following order: transportation equipment; appliances & components; nonmetallic mineral products and cement

Fortis MFB Gets Client Protection Certification, Disburses N15bn Credit James Emejo in Abuja Fortis Microfinance Bank Plc has been labeled the first Client Protection Certified organisation in Nigeria by Smart Campaign, a global initiative to incorporate strong client-protection and best practices into the microfinance industry. By this recognition which is seen as big boost to the fortunes of the bank, Fortis joins 16 other companies from Latin America, Eastern Europe and South Asia which had been so certified since the programme was launched in January 2013. The award means that Fortis is currently the only institution to be so honoured in the continent. The Fortis MFB, which has served the West African region for 8 years with over 400,000 clients currently has

also advanced micro-credit facilities totaling N15 billion to 64 clients. Director of the Smart Campaign, Isabelle Barrès, said: “We extend our heartfelt congratulations to Fortis Microfinance Plc. Their willingness to do the work it takes to prepare for and undergo the intensive process of evaluation is indicative of their deep commitment to their clients. They have shown that this bar is achievable in the area of client protection. Their example will catalyze a movement towards certification within the broader industry.” Essentially, the Smart Campaign’s Client Protection Certification programme publicly recognises those institutions providing financial services to low-income households whose standards of care uphold the

Smart Campaign’s seven Client Protection Principles including pricing, transparency, fair and respectful treatment and prevention of over-indebtedness. Speaking at a briefing in Abuja, Managing Director, Fortis Microfinance Bank, Mr. Tiko Okoye said: “We have always held a strong commitment to protecting our clients, but this independent validation lends credibility and demonstrates to our esteemed clients and our industry that we continue to work every day to improve our service and our commitment to best practices in microfinance.” Also, Investment Officer of FMO-the Dutch Development Bank, which is a major creditor to the Fortis, Mr. Jeroen Harteveld expressed satisfaction over the development.

President Muhammadu Buhari

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

FEBRUARY 2016 Broad Money (M2)

20,489,166.72

-- Narrow Money (M1)

9,095,578.34

---- Currency Outside Banks

1,377,483.11

---- Demand Deposits

7,682,095.23

-- Quasi Money

11,429,588.38

Net Foreign Assets (NFA)

5,471,351.78

Net Domestic Assets(NDA)

15,017,814.94

-- Net Domestic Credit (NDC)

22,414,322.75

---- Credit to Government (Net)

3,424,029.62

---- Memo: Credit to Govt. (Net) less FMA

4,807,604.55

---- Memo: Fed. and Mirror Accounts (FMA)

-1,383,574.93

---- Credit to Private Sector (CPS)

18,990,293.13

--Other Assets Net

-7,396,507.81

Reserve Money (Base Money)

5,095,380.23

--Currency in Circulation

1,711,623.51

--Banks Reserves

3,383,756.72 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

120.47

Stanbic IBTC Ethical

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT MON 2 MAY 2016 The price of OPEC basket of thirteen crudes stood at $42.47 a barrel on Monday, compared with $42.70 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • WEDNESDAY mAY 4, 2016

Nigeria’s top 50 stocks based on market fundamentals

3-May-16

29-Apr-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

171.57

163.40

5.00%

2,923,639,855,475.85

10.64

16.12

5.95

4.66%

4.53

02 Nigerian Brew. Plc.

121.68

115.89

5.00%

964,812,996,051.84

5.37

22.67

3.49

2.96%

5.66

03 Nestle Nigeria Plc.

678.32

615.26

10.25%

537,674,588,856.64

29.95

22.65

3.55

4.28%

14.15

04 Guaranty Trust Bank Plc.

17.10

16.77

1.97%

503,273,164,730.40

3.38

5.06

2.20

10.35%

1.22

05 Zenith Bank Plc

12.97

12.70

2.13%

407,212,524,404.42

3.37

3.85

0.94

13.88%

0.69

06 Lafarge Africa Plc.

71.38

67.99

4.99%

325,128,891,197.80

5.93

12.04

1.22

4.20%

1.85

07 Ecobank Transnational Incorporated

15.50

14.98

3.47%

284,418,043,832.50

1.39

11.13

0.55

4.00%

0.76

08 Forte Oil Plc.

193.46

214.35

-9.75%

251,977,994,186.38

4.45

43.49

2.02

1.78%

5.44

09 Seplat Petroleum Dev. Co. Ltd.

340.00

0.00%

188,125,506,420.00

23.48

14.48

1.67

4.68%

0.67

10 Stanbic IBTC Holdings Plc

14.30

13.85

3.25%

143,000,000,000.00

2.04

7.02

1.21

0.70%

1.27

11 Guinness Nig Plc

94.00

91.20

3.07%

141,553,489,672.00

0.78

120.78

2.84

0.00%

3.17

12 United Bank for Africa Plc

3.57

3.40

5.00%

129,517,908,969.54

1.64

2.17

0.41

16.81%

0.39

13 FBN Holdings Plc

3.53

3.60

-1.94%

126,710,383,555.76

0.42

8.36

0.25

4.25%

0.22

14 Access Bank Plc.

4.25

4.05

4.94%

122,943,879,431.75

2.28

1.87

0.36

12.94%

0.33

30.71

0.00%

116,185,027,837.50

0.32

97.44

1.96

0.16%

14.52

16 7-Up Bottling Comp. Plc.

145.00

0.00%

92,885,602,635.00

11.12

13.04

1.19

1.52%

3.87

17 P Z Cussons Nigeria Plc.

22.42

21.36

4.96%

89,018,095,348.90

1.10

20.43

1.23

5.80%

2.12

18 Dangote Sugar Refinery Plc

5.80

5.75

0.87%

69,600,000,000.00

0.96

6.03

0.69

8.62%

1.20

19 International Breweries Plc.

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

20 Julius Berger Nig. Plc.

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

155.00

0.00%

55,892,265,610.00

13.51

11.47

0.87

4.65%

3.64

4.62

4.56

1.32%

55,599,939,290.28

0.50

9.24

0.10

16.23%

0.35

21.00

0.00%

55,108,980,927.00

1.84

11.41

0.17

9.52%

0.54

156.03

154.19

1.19%

52,975,592,227.11

11.92

13.09

0.25

8.97%

3.26

25 Sterling Bank Plc.

1.47

1.41

4.26%

42,321,914,645.22

0.36

4.11

0.38

6.12%

0.44

26 Transnational Corporation Of Nigeria Plc

1.03

0.99

4.04%

39,882,627,347.75

0.05

19.63

0.98

0.00%

0.46

27 Presco Plc

35.76

0.00%

35,760,000,000.00

3.28

10.91

3.15

0.28%

1.60

28 U A C N Plc.

18.00

18.03

-0.17%

34,575,558,966.00

2.70

6.67

0.47

5.56%

0.47

29 Fidelity Bank Plc

1.10

1.17

-5.98%

31,858,844,261.20

0.48

2.29

0.22

14.55%

0.17

30 Diamond Bank Plc

1.37

1.39

-1.44%

31,729,732,886.16

0.24

5.61

0.15

0.00%

0.15

16.27

15.50

4.97%

30,558,347,190.80

3.21

5.07

0.91

7.99%

2.95

0.76

0.80

-5.00%

29,316,594,221.56

0.06

12.60

0.64

0.00%

0.64

33 Okomu Oil Palm Plc.

29.11

29.00

0.38%

27,768,320,100.00

2.76

10.55

2.85

0.34%

2.30

34 Cap Plc

38.50

0.00%

26,950,000,000.00

2.49

15.49

3.82

2.99%

17.73

35 Glaxo Smithkline Consumer Nig. Plc.

21.43

22.55

-4.97%

25,627,633,137.84

0.81

26.56

0.84

1.40%

1.94

36 Mansard Insurance Plc

2.26

0.00%

23,730,000,000.00

0.16

14.28

1.43

2.21%

1.36

37 National Salt Co. Nig. Plc

8.27

8.70

-4.94%

21,910,855,386.06

0.79

10.41

1.35

6.65%

3.09

38 Custodian And Allied Insurance Plc

3.67

3.71

-1.08%

21,586,441,595.65

0.71

5.14

0.72

3.81%

0.83

39 FCMB Group Plc.

0.95

1.00

-5.00%

18,812,575,241.95

0.24

3.95

0.12

10.53%

0.12

40 Skye Bank Plc

0.98

0.00%

13,602,695,381.80

0.85

1.15

0.10

30.61%

0.10

41 Honeywell Flour Mill Plc

1.60

1.56

2.56%

12,688,316,252.80

0.14

11.33

0.26

10.00%

0.59

42 Continental Reinsurance Plc

1.02

1.01

0.99%

10,580,199,198.24

0.21

4.94

0.54

11.76%

0.68

43 Cement Co. Of North.Nig. Plc

7.45

0.00%

9,362,249,356.70

0.96

7.79

0.72

1.34%

0.92

44 Unity Bank Plc

0.65

0.67

-2.99%

7,598,069,662.30

0.54

1.20

0.12

0.00%

0.09

45 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.10

5.16

0.94

6.00%

0.45

46 UACN Property Development Co. Limited

3.85

0.00%

6,617,187,480.75

1.81

2.13

0.59

18.18%

0.20

47 Nigerian Aviation Handling Company Plc

3.71

3.66

1.37%

6,025,851,562.50

0.33

11.20

0.71

5.39%

0.99

48 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc.

0.77

0.00%

5,336,257,449.60

0.28

2.79

0.16

6.49%

0.55

50 Fidson Healthcare Plc

2.24

2.14

4.67%

3,360,000,000.00

0.50

4.51

0.41

2.23%

0.53

15 Unilever Nigeria Plc.

21 Mobil Oil Nig Plc. 22 Oando Plc 23 Flour Mills Nig. Plc. 24 Total Nigeria Plc.

31 Cadbury Nigeria Plc. 32 Wema Bank Plc.

TOTAL

8,289,816,222,913.55

TOTAL MARKET CAP

8,897,252,800,610.51

% OF MARKET CAP Annotation - MA* = Simple Moving Average

93.17%

Table 1 Market Statistics Mkt Indicators

Open 29-Apr-16

NSE All Share Index NSE Market Cap (N'Trillion)

25,062.41 8.62

25,865.50 8.90

3.20% 3.20%

102.66 7.99

106.47 8.29

3.71% 3.71%

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 3-May-16

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 29-Apr-16 3-May-16 %

Nestle Nigeria Plc. United Bank for Africa Plc Dangote Cement Plc Nigerian Brew. Plc. Lafarge Africa Plc.

615.26 3.40 163.40 115.89 67.99

678.32 10.25% 3.57 5.00% 171.57 5.00% 121.68 5.00% 71.38 4.99%

Table 4 Top 5 Losers Stock

Open Close Change 29-Apr-16 3-May-16 %

Forte Oil Plc. Fidelity Bank Plc FCMB Group Plc. Wema Bank Plc. Glaxo Smithkline Consumer Nig. Plc.

214.35 1.17 1.00 0.80 22.55

193.46 1.10 0.95 0.76 21.43

-9.75% -5.98% -5.00% -5.00% -4.97%

Bargain hunting further appreciates ASI by 3.20% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, May 3, 2016 was bullish as the market closed green due to resumed strategic activities by investors upon further releases of first quarter financial statements. This was further highlighted by positive performances from all the NSE Sub sectors; Banking, Insurance and Consumer Goods (Save Oil & Gas). Trading activities decreased in volume as 220.12 million shares worth N1.50 billion in 3,474 deals exchanged hands today. This is a decrease from the 229.19 million shares worth N1.50 billion in 3,493 deals carried out on Friday. Topping in volume terms was Access Bank Plc, FCMB Group Plc and FBN Holdings Plc, while Nestle Nigeria Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed positive with 3.20% (+803.09) increase to 25,865.50 from 25,062.41 the previous trading day. Market Capitalization appreciated in tandem to N8.90 trillion from the previous trading day figure of N8.62 trillion. The Thisday BGL 50 Index also followed suit with an higher increase of 3.71% to close at 106.47 from 102.66 the previous trading day, while its market capitalization stood at N8.29 trillion from N7.99 trillion of the previous trading day. A total number of 33 stocks gained on the bourse today while 12 stocks declined, leaving 149 stocks unchanged. Nestle Nigeria Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.25% to close at N678.32 per share. It was followed by United Bank for Africa Plc with a gain of 5.00% to close at N3.57 per share. Others on the gainers list include; Dangote Cement Plc, Nigerian Brew. Plc and Lafarge Africa Plc, while on the decliners’ list; Forte Oil Plc led with a loss of 9.75% to close at N193.46 per share. It was followed by Fidelity Bank Plc with a loss of 5.98% to close at N1.10 per share. Others on the losers list include; FCMB Group Plc, Wema Bank Plc and GlaxoSmithkline Consumer Nig. Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY • WEDNESDAY, MAY 4 , 2016

MARKET NEWS

Fidelity Bank Profit After Tax Declines 11% in Q1 2016 Goddy Egene and Eromosele Abiodun Fidelity Bank Plc has recorded a profit before tax (PBT) of N4.0 billion and profit after tax (PAT) of N3.6 billion for the first quarter ended March 31, 2016. The PBT showed a decline of 14.6 per cent from N4.7 billion posted in the corresponding period of 2015 while the PAT fell by 10.5 per cent as against

N4.0 billion posted in 2015. However, the bank increased customers’ deposits by 1.9 per cent to N784.5 billion from N769.6 billion, while net loans increased by 2.1 per cent from N578 billion to N590.1 billion. Total equity rose by 1.3 per cent to N187 billion, from N183.5 billion, while total assets grew by 4.0 per cent from N1.232 trillion to N1.284 trillion. Reacting to the results,

T H E MAIN BOARD

DEALS

MARKET PRICE

analysts at FBN Quest said although loan loss provisions fell by 28 per cent, a 16 per cent spike in operational expenses resulted in PBT declining by 15 per cent. “A negative result of N3.5 billion in other comprehensive income (OCI) amplified the decline in PAT. Moving back to the pre-provision profits, although funding income grew by 30 per cent, a 35 per

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

cent decline in non-interest income was responsible for the single-digit growth in pre-provision profits. We note that the Q1 quarter marks the third consecutive quarter of decline on the non-interest income line,” they said. According to FBN Quest, compared with their forecasts, PBT missed by 15 per cent because profit before provisions came in around 11 per cent

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

2.69

614,065

1,572,223.05

lower than what they had modelled. “A 96 per cent decline in net foreign exchange gain to N180 million ( N4.1 billion in Q1 2015) was a major driver behind the weakness in noninterest income, most likely due to issues surrounding forex supply which continue to impact banks’ results. We would be looking to management to get more clarity on this line

on the bank’s conference call. We would not read too much into the 28 per cent decline in impairment charges at this time, given that these results are not audited,” they said. Meanwhile, the Nigerian equities market opened the month on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 3.2 per cent to close at 25,865.50.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

WEDNESDAY MAY 4, 2016 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Syria: Rebels’ Rockets Kill 19 in Aleppo

Rebels bombarded government-held areas of Aleppo with rockets yesterday, killing 19 people and hitting a hospital, while also launching a ground assault on army-held positions of the divided city, the Syrian Observatory for Human Rights said. The Syrian army said

insurgents had launched a widespread assault and that it was responding. Staterun Syrian news channel Ikhbariya said three women were killed and 17 more people wounded at the al-Dabit maternity clinic. The army statement said the attack was at “a time when international and

local efforts are being made to shore up the (cessation of hostilities agreement) and to implement ... calm in Aleppo”. The Observatory said the hospital had been heavily damaged. In rebel-held parts of Aleppo, the Observatory said there had been three air strikes, citing information of an

unconfirmed number of people killed. The Observatory said 279 civilians have been killed in Aleppo by bombardments since April 22, with 155 of them killed in opposition-held areas, and 124 killed in government-held districts. The ground assault focused on the Jamiat al-Zahraa area of the city,

where insurgent groups detonated tunnels and took a few buildings before advances were checked by the arrival of reinforcements on the government side, the Observatory said. A Syrian army source said a car bomb was used in an attack nearby, adding that the assault had failed. The source added that

“matters had been moving towards Aleppo being included in the truce, but it seems there are those who do not want that”. Asked if it reduced the chances of a truce in Aleppo, the source said: “Certainly, because practically the one carrying out these actions does not want a truce”.

Fatal Helicopter Crash off Norway Caused by Technical Error A helicopter crash that killed 11 oil workers and two crew on Friday off the Norwegian coast was due to a technical fault, not human error, Norway’s Accident Investigation Board said yesterday. An Airbus H225 Super Puma helicopter ferrying passengers from a Norwegian oil platform crashed in the North Sea on Friday, killing all 13 people on board. “We are as certain as we can be that a technical error caused the accident. We don’t think it was due to human misinterpretations,” the director of the board’s aviation department, Kaare Halvorsen, told reporters. He also confirmed statements by the helicopter operator, CHC, that the two pilots did not have time to send an emergency mayday message before the crash. Separately, aviation sources said the European Aviation Safety Agency, which regulates the airworthiness of helicopters, was discussing with Airbus whether to issue a directive ordering checks on the Super Puma. Airbus, which had initially urged a halt to all Super Puma flights, said on Monday commercial operations could resume outside UK and Norway, saying initial

evidence did not suggest a link between the accidents and two North Sea ditching in 2012. The Super Puma is the workhorse of the oil industry, ferrying workers to and from offshore installations. Helicopter operators said they had been able to maintain service despite the flight bans by using Sikorsky helicopters. “We have other aircrafts in our fleet so we’re using those,” said a spokeswoman for operator Bristow Group, adding it was too early to say whether it would have to replace its Super Pumas in the long-term. In total there are 179 H225 helicopters in service worldwide, including 40 operating in the North Sea. “We’re continuing to work with our customers to prioritise the availability of alternative resources and will provide as much capacity as possible using those resources,” a CHC spokesman said. Separately, oil firm Shell said on Monday it was suspending all flights in Norway with CHC but would continue using the firm in other countries. “As a precaution, it is decided to temporarily suspend all CHC ... passenger flights for Shell in Norway,” said a company spokeswoman.

113 Migrants Die in Libya An estimated 113 people died in shipwrecks between Libya and Italy at the weekend as the crossing becomes the preferred sea route for migrants to Europe, the International Organization for Migration (IOM) said yesterday. With the closing of land routes in the Balkans and a recent deal under which Greece sends migrants back to Turkey, Italian officials have said they expect more people to try to make this longer and much more dangerous crossing from Libya. In one of four incidents, an Italian merchant ship rescued 26 people off the coast of Libya in rough seas and others were feared missing, Italy’s Coast Guard said on Saturday. IOM, citing survivor testimony, said 84 people appeared to be missing from that wreck, while at least 29 drowned in two other attempted crossings in rubber dinghies of the

Channel of Sicily. It was still investigating a fourth incident. “Just since Friday we know of 4 shipwrecks and 113 people killed, just off Libya,” IOM spokesman Joel Millman said. “It is becoming the preferred route. So therefore we are very mindful of what could be coming in the next few months,” Millman told a news briefing. Migrants from West Africa, especially Nigerians, and the Horn of Africa dominate the Libya-Italy route, which Syrians, Afghans and Iraqis are not taking for now, Millman added. In all, 1,357 migrants and refugees perished at sea during the first four months of the year, mostly along the Central Mediterranean route, against 1,733 during the period in 2015, the agency said. Since January, 28,593 migrants and refugees have arrived by sea in Italy, while 154,862 have landed in Greece, the IOM said.

FOR PRESS FREEDOM

The United States Consul General, F. John Bray, delivering remarks commemorating World Press Freedom Day at the U.S. Consulate General Lagos! yesterday

Turkey to Abolish Visas for EU States Turkey has agreed to abolish visa restrictions for all European Union citizens, including Greek Cypriots, passing one of the last remaining hurdles for it to secure visa-free access to Europe for its own nationals. The Turkish cabinet late on Monday approved waiving visas for visitors from all 28 EU member states once Europe relaxes its own visa requirements for Turks, according to a decision published in the country’s Official Gazette. Although the visa waiver will apply to Greek Cypriots, a Turkish official told Reuters it did not amount to Turkish recognition of Cyprus. Liberalising

visa rules for Turkey, a Muslim country of 79 million people, is a contentious issue among EU states, but Brussels is pushing ahead to keep a migration accord in place that should help ease Europe’s worst migration crisis since World War Two. The European Commission is expected to declare on Wednesday that Turkey has broadly met the criteria for visa liberalisation and to ask EU governments and the European Parliament to approve the decision by the end of June.“With this decree, Turkey has fulfilled one more of the important benchmarks for visa liberalisation,” European Com-

mission spokesman Margaritas Schinas told a daily briefing in Brussels. One of the biggest obstacles in Turkey’s relations with the EU is Ankara’s refusal to recognise EU member Cyprus, the Mediterranean island divided for four decades between the Turkish-controlled north, recognised only by Ankara, and the Greek Cypriot south, which has international recognition. “This doesn’t mean the recognition of Cyprus. If the EU abolishes visas for Turkish citizens, then we will also abolish visas for the remaining EU countries,” the Turkish official

said on condition of anonymity because the full deal has not yet been finalised. “Right now, Greek Cypriots can already travel to Turkey, but we are issuing their visa on a separate paper. With this new arrangement they won’t need a visa.” Cyprus would wait for the assessment review of the European Commission on Wednesday before making any comment, government spokesman Nikos Christodoulides told the Cyprus News Agency. Nordic foreign ministers meeting in Finland said it was important that Turkey reached all 72 criteria before visa-free travel for Turks could be allowed.

Islamic State Kills US Serviceman in Iraq Islamic State fighters killed a U.S. serviceman in northern Iraq yesterday when they overran Kurdish defences in the biggest attack in the area in recent months, officials said. The dead man was the third American to be killed in direct combat since a U.S.-led coalition launched a campaign against the jihadist group in 2014. “It is a combat death, of course, and a very sad loss,”U.S. Defense Secretary Ash Carter told reporters during a trip to Germany. A senior official of the Iraqi Kurdish peshmerga force said the man was killed near Tel Asqof, a town 28 km (17 miles) north of Mosul, which the militants occupied at dawn on Tuesday. Early information suggested he had been killed by a sniper, Jabbar Yawar said.

The leader of a Christian militia deployed alongside peshmerga in the Tel Asqof area said the town had been attacked by multiple suicide bombers, some driving vehicles laden with explosives. A U.S. military official said the U.S.-led coalition helped the peshmerga repel the attack with air support from F-15 jets and drones. The official, speaking on condition of anonymity, said the man was killed “by direct fire”from Islamic State. Carter’s spokesman, Peter Cook, said the incident took place during an Islamic State attack on a peshmerga position some 3-5 km behind the forward line. Peshmerga were surrounding Tel Asqof and coalition aircraft were targeting militants in the area, according to Safa Eliyas,

head of the Nineveh Protection Forces (NPF) militia.“Until now there are suicide bombers trapped inside (the town)”. Another NPF member on the front line said they were awaiting an armoured division to storm the town, where Islamic State snipers had also taken up positions. The peshmerga also deflected Islamic State attacks on the Bashiqa front and in the Khazer area, about 40 km west of the Kurdish regional capital Erbil, Kurdish military sources said. In mid-April the United States announced plans to send an additional 200 troops to Iraq, and put them closer to the front lines of battle to advise Iraqi forces in the war against Islamic State. Last month, an Islamic State attack on a U.S.

base killed Marine Staff Sergeant Louis Cardin and wounded eight other Americans providing force protection fire to Iraqi army troops. The Islamist militants have been broadly retreating since December, when the Iraqi army recaptured Ramadi, the largest city in the western region. Last month, the Iraqi army took the nearby region of Hit, pushing them further north along the Euphrates valley. But U.S. officials acknowledge that military gains against Islamic state are not enough. Iraq is beset by political infighting, corruption, a growing fiscal crisis and the Shi’ite Muslim-led government’s fitful efforts to reconcile with aggrieved minority Sunnis, the bedrock of Islamic State support.

WEDNESDAY, MAY 4, 2016 • T H I S D AY

INTERNATIONAL

Canada’s Govt Has Trouble Detecting Citizenship Fraud Canada’s government is doing a bad job of weeding out fraudulent citizenship applications and this means ineligible people can obtain Canadian passports, the country’s top watchdog said yesterday. The findings could alarm U.S. critics already worried by what they say are the security risks posed by the new Liberal government’s decision to quickly accept 25,000 Syrian refugees after taking power last November. Auditor General Michael Ferguson said in a report he had discovered a series of problems in the Immigration, Refugees and Citizenship (IRC) department, which is responsible for making sure only eligible people can become Canadian nationals. “We found that (IRC) was not adequately detecting and preventing fraud in the citizenship programme,”

concluded the audit, which said officials lacked a systematic method of identifying and documenting fraud risks. “People were granted citizenship based on incomplete information or without all of the necessary checks being done,” it said. The audit covered the period from July 2014 to October 2015, when the former Conservative government was in power. More than 260,000 people became Canadian citizens in 2014, an all-time record. Canada has a population of around 36 million. The system is supposed to weed out people convicted of serious offences, those who have faked residency papers or have entered into marriages of convenience. But Ferguson said the Royal Canadian Mounted Police and the border security agency were doing a poor job

of sharing data about criminal charges and potential residency fraud. For example, one address was not identified as a problem even though it had been used over a seven-year period by at least 50 applicants, seven of whom were granted citizenship. Revoking citizenship is

time-consuming and costly. As of January 2016, IRC had about 700 revocation cases pending. The department also has responsibility for refugees and coordinated the effort to bring in 25,000 people from Syria. In February, the U.S. Senate

Homeland Security Committee probed the effort, citing the possibility that violent militants could mix in and cross the long, largely porous U.S.-Canada border. Congressional aides say U.S. officials remain wary of Canada’s screening, noting it is nearly impossible for foreign

governments to verify the backgrounds and identities of refugees. At the time, Canadian officials defended what they said was a very strong security system. John McCallum, the government minister in charge of the IRC, was due to react to the report later on Tuesday.

Republican Cruz Slams Trump as ‘Pathological Liar’ On a day when his presidential bid could suffer a mortal blow, Ted Cruz became embroiled in a name-calling contest with Republican front-runner Donald Trump whom he described as “a pathological liar” in one of the most bitter exchanges in the White House campaign. Cruz, Trump’s main rival, has been counting on a win in yesterday’s Indiana primary to slow the New York billionaire’s progress toward the nomination. But polls in recent days have shown Trump opening up a substantial lead in the Midwestern state over the U.S. senator from Texas. Campaigning in Evansville, Indiana, Cruz sounded deeply frustrated by the bombastic real estate mogul.“The man cannot tell the truth but he combines it with being a narcissist,” Cruz said of Trump,“a narcissist at a level I don’t think this country has ever seen.” Cruz also termed Trump a “serial philanderer” -- likely as part of his strategy to try to siphon the support of evangelical voters from Trump. Republican voters in Indiana could give Trump an almost unstoppable advantage in his turbulent journey toward the party’s presidential nomination. He holds a double-digit polling lead in the state. Trump, who frequently refers to Cruz as “Lyin’ Ted,” quickly responded to his rival’s attack. “Over the last week, I have watched Lyin’ Ted become more and more unhinged as he is unable to react under the pressure and stress of losing, in all cases by landslides, the last six primary elections --- in fact, coming in last place in all but one of them,”he said in a statement. Trump has drawn both passionate support and vitriolic condemnation with his stands on immigration and national security - including a call to build a wall along the Mexican border that he says Mexico would pay for and a bid to temporarily

ban Muslims from entering the United States. Fresh off a sweep of five Northeastern states last week, a Trump win on Tuesday could put him within reach of the 1,237 delegates required to lock up the Republican nomination before the party’s convention in July. “If we win Indiana, it’s over,” he told a cheering crowd in Terre Haute, Indiana, on the eve of the vote. Cruz vowed on Monday to “compete to the end”but a loss in Indiana would be particularly crushing for the senator, who has argued that his brand of religious conservatism is a natural draw for heartland Republicans. He won the endorsement of conservative Indiana Governor Mike Pence. Cruz’s fury on Tuesday was set off by Trump linking the senator’s father to John F. Kennedy’s assassin. The Texan pulled no punches. “I’m going to tell you what I really think of Donald Trump. This man is a pathological liar. He doesn’t know the difference between truth and lies,”he told reporters. “He lies practically every word that comes out of his mouth. And...his response is to accuse everybody else of lying.” For Cruz, yesterday’s unbridled critique of Trump was his fiercest yet. But it may come far too late. Earlier in the campaign, he refused to bash Trump over such proposals such as Trump’s call for a ban on Muslim immigration. In December, Cruz vowed that he “won’t get engaged in personal insults and attacks” with Trump and warned that voters are turned off by “a bunch of politicians bickering like school children.” Trump now has 996 delegates, compared with 565 for Cruz and 153 for Ohio Governor John Kasich, according to The Associated Press. Another 57 delegates are up for grabs in Indiana, a state that has voted Republican in nine of the last 10 presidential elections.

GLOBAL DISCOURSE

Hollywood icons, Tom Hanks and Brian Grazer, discussing during the Milken Institute’s Global Conference in Los Angeles…yesterday

EU Executive to Propose Reform Asylum System The European Union’s executive will propose a reform of the bloc’s asylum rules on Wednesday, EU sources said, that reflects caution in the face of deep divisions among governments about how to handle the migration crisis. The European Commission last month floated scrapping a rule in the so-called Dublin system that gives responsibility for handling asylum claims to the first EU state a person enters -- a rule that has placed heavy burdens on Greece and Italy. However, two sources said, it would now issue a legislative proposal retaining the “first country” principle while including a central scheme to spread claimants around Europe to give the frontline states the chance to relocate asylum seekers to other EU countries if arrivals on their borders are too high.

An emergency relocation system set up last year after record numbers of refugees and migrants reached Greece was agreed in the face of fierce opposition from east Europeans. Slovakia and Hungary have challenged the legality of the measure and Hungary plans a referendum on any more quotas this autumn. Any proposal will need to win the backing of a majority of the 28 EU states as well as the European Parliament for it to be enacted and EU officials and diplomats do not expect agreement swiftly. An EU source said separately that the Commission would also propose a “financial sanction mechanism” for countries that refuse to take in claimants. “It should therefore go beyond symbolism but be understood as prohibitive pricing,” the source said. “If a member state does not

show solidarity in taking in refugees, it has to compensate with financial solidarity.” Last year, a Commission suggestion that would have given countries an option to pay 0.002 percent of national income to help migrants instead of taking in asylum seekers was not endorsed by leaders. One east European diplomat in Brussels said a new proposal for financial penalties would also be unpopular. Germany - the EU’s biggest economy and the final destination for most of the more than a million migrants who arrived in the bloc last year - is keen to see a permanent mechanism to share out the load. Ex-communist states in central and eastern Europe say their homogeneous societies are ill equipped to take in large numbers of migrants, especially from the Middle

East or Africa. Diplomats speculate that the division over migration between Eastern states and richer Western members which pay for the EU grants and subsidies they receive could affect negotiations on the bloc’s budget. Officials hope, however, that an EU agreement with Turkey last month that has seen a sharp drop in refugees arriving in Greece could ease internal tensions over the migration issue, which has fueled a rise in nationalist parties across Europe. Also on Wednesday, the Commission is set to propose easing visa requirements for Turks as part of the deal, though that also faces difficulties with governments and EU lawmakers who argue that Ankara has not met all the conditions, notably on improving its human rights record.

Israeli Troops Kill Palestinian Driver Israeli troops shot and killed a Palestinian driver who rammed his vehicle into three Israeli soldiers, injuring them, on a road in the occupied West Bank on Tuesday, the army said. The Palestinian health ministry identified the dead man as Ahmed Reyad Shehada, 36, a resident of Bitunia near the town of Ramallah, close to where the incident took place.

One of the three injured soldiers was in a life-threatening condition, a hospital spokeswoman said. In the last half year, Palestinian attacks have killed 28 Israelis and two visiting U.S. citizens. Israeli forces have killed at least 192 Palestinians, 131 of whom Israel says were assailants. Many others were shot dead in clashes and protests. Factors driving the violence include

Palestinian bitterness over stalled statehood negotiations and the growth of Israeli settlements in the West Bank, increased Jewish access to a disputed Jerusalem shrine and Islamist-led calls for Israel’s destruction. It was the first violent fatality in the region since a suicide bomber died on April 20 of his wounds after he detonated a device

on a Jerusalem commuter bus two days earlier. Suicide bombings on Israeli buses were a hallmark of the Palestinian revolt of 2000-2005 but have now become rare. With Palestinians carrying out less organized stabbing, car-ramming and gun attacks since October, Israel has been braced for an escalation.

WEDNESDAY, MAY 4, 2016 • T H I S D AY

INTERNATIONAL

Differences over Missile Defense, Fine Print Snag US-Israel Aid Deal Negotiations meant to enshrine U.S. defense aid for Israel over the next decade have snagged on disputes about the size, scope and fine print of a new multibillion-dollar package, officials say. Five months into the talks, several U.S. and Israeli officials disclosed details about the disputes to Reuters on condition of anonymity. The U.S. and Israeli governments said negotiations were continuing, declining to elaborate. Israel is seeking up to $10 billion more than the current 10-year package and billions more than the U.S. administration is offering, partly by asking for guaranteed funding for missile defense projects hitherto funded on an ad hoc basis by the U.S. Congress, the officials said. U.S. President Barack Obama wants to ensure the funds, thus

far spent partly on Israeli arms, are eventually spent entirely on U.S.-made weapons. The differences partly reflect Israeli Prime Minister Benjamin Netanyahu’s vocal opposition to the international nuclear deal with Iran championed by Obama. The two sides are also at loggerheads over the Palestinians. Israel has long been a major recipient of U.S. aid, most in the form of military assistance against a backdrop of an ebbing and flowing conflict with the Palestinians and Israel’s neighbors, as well as threats from Iran. Obama has pushed hard for a resolution to the conflict, but has made little headway. In seeking a sharp increase in military funding, Israel argues it needs to offset military purchases by Iran, Israel’s regional arch-foe, after it secured sanctions relief in the accord limiting its nuclear

program. Israel also wants the U.S. administration to support missile defense projects that have so far relied on ad hoc assistance by the U.S. Congress, citing arms acquisitions by neighboring Arab states as well as Iran as conflicts rage in Syria and Yemen. Obama’s administration, which has fraught relations with Netanyahu, is offering what it says is a record sum to Israel to assuage fears expressed both there and among his Republican rivals at home that the deal with Iran will endanger Israel. But the officials say it is less money than Israel has sought overall and Obama also wants changes to allow U.S. defense firms to reap greater benefits from a new deal. If unresolved before Obama leaves office in January, the impasse could deny him a chance

Auditors Rebuke UN Development Agency An internal United Nations Development Program audit published on Tuesday gave the agency an“unsatisfactory”rating for its management of the U.N. Office for South-South Cooperation, saying it failed to properly vet a donor linked to a bribery scandal. The UNDP carried out the audit of its Office for SouthSouth Cooperation in response to U.S. charges against John Ashe, General Assembly president in 2013-2014, and six other people over an alleged bribery scheme. The main UN internal investigations office last month released a related but separate audit of the United Nations interaction with groups linked to the scandal but that audit did not touch on the UNDP. It also recommended improvements. The UNDP, an autonomous United Nations agency with its own budget that focuses on development projects, said the agency’s Office of Audit and Investigations (OAI) found a number of management shortcomings at the Office for

South-South Cooperation (OSSC). The “unsatisfactory” grade was because auditors found “internal controls, government and risk-management processes were either not established or not functioning well,”it said. The OSSC had received $1.5 million last May from Macau-based Sun Kian Ip Group, headed by billionaire Macau real estate developer Ng Lap Seng. Ng and six others were charged by the U.S. attorney’s office in Manhattan for alleged involvement in a scheme to get John Ashe, U.N. General Assembly President in 2013-14 and former ambassador of Antigua and Barbuda, $1.3 million in bribes to build a U.N.-sponsored conference center in Macau. The auditors found that OSSC had not properly vetted Sun Kian. “The donor’s risk assessment performed by the Office at the time of receiving the $1.5 million contribution was ineffective,”the audit said. It said the risk assessment did not identify potential concerns about partnering with Sun Kian

Ip. The auditors themselves conducted an internet search that yielded news articles about Ng that would have appeared and should have raised red flags. “The Office had performed a web search as part of its risk assessment but this did not seem to have yielded the same results,” the audit said. A U.N. spokesman said last year that none of the money was misused. The audit said $1.1 million of the donation was unused. The auditors noted that the OSSC had“unclear accountability and reporting lines,”an inadequate organizational structure, poor internal controls, weak personnel and travel management, inadequate handling of expenses and accounts receivable and other shortcomings. The audit recommended addressing all of the weaknesses identified. A U.N. task force has recommended overhauling the office of the president General Assembly in the wake of the bribery scandal.

Proposed Irish Govt to Prioritise Spending over Tax Cuts Ireland’s proposed minority government will use at least twice as much available resources on spending increases over tax cuts, an agreement between the country’s two main parties seen by Reuters showed yesterday. Acting Prime Minister Enda Kenny’s Fine Gael party moved towards breaking a nine-week, post-election deadlock on Friday by securing the support of the country’s second largest party, rival Fianna Fail, to facilitate a minority administration. The parties met separately on Tuesday to ratify the final text of the agreement, which sets out ground rules for an arrangement that is scheduled to run until the end of 2018 and entails Fianna Fail abstaining in key votes. The seven-page document includes a broad policy framework

such as targeting income tax cuts on low and middle income earners, reviewing public sector pay levels and building up a contingency fund as a buffer against fiscal shocks.“To address unmet needs, (the government will) introduce budgets that will involve at least a 2:1 split between investment in public spending and tax reductions,” the document states. Ireland, which began unwinding years of deep austerity cuts last year, is in a position to introduce further expansionary measures thanks to its fast-growing economy. It is expected to focus that room for manoeuvre on spending in areas such as health, housing and infrastructure. The parties also agreed to increase infrastructure spending from 2017 when its current plan is due to be reviewed.

The reference to a public sector pay review arises from the fact that after six years of almost unbroken peace, labour-management relations in Ireland are starting to fray as economic recovery has led to contested wage demands and strikes. The document further says that the government will“take all necessary action” to tackle high variable interest rate mortgages, stopping short of suggesting new laws to allow Ireland’s central bank to intervene in the market. Acting Finance Minister Michael Noonan of Fine Gael last year threatened to penalise banks if they did not act, though he decided against doing so after lenders cut their rates. Fianna Fail campaigned in the February election to bring in new laws.

WEDNESDAY, MAY 4, 2016 • T H I S D AY

INTERNATIONAL

Pope Condemns Pedophilia, Calls for Punishment

Pope Francis has called for “severe punishment” for pedophiles after new details emerged in Italy of the 2014 death of a sixyear-old girl who is alleged to have been thrown from an eighth-storey balcony by her abuser. “This is a tragedy. We should not tolerate the abuse of minors,” Francis said, departing from prepared remarks at his weekly Sunday message and blessing to tens of thousands of people in St. Peter’s Square. “We must protect minors and severely punish abusers,” he said. Though the Catholic Church itself has been rocked by its own abuse scandals, he did not mention them on Sunday as he has in the past. Italians have been shocked as details emerged in the case of six-year-old Fortuna who died in June 2014 after a fall from an eighth-storey

balcony in Naples. After re-opening the case, police charged a 43-year-old man with having thrown the girl to her death in a housing block in a rough area of the city after raping her. Police said they suspected he killed her so she would not talk. The man, who has also been accused of molesting other children and is now in prison in Rome, has denied the charges. On Saturday Italian President Sergio Mattarella called for an “ample, rapid and severe” judicial process concerning the case, which has dominated newspapers’ front pages for days. Child abuse by priests has plagued the Roman Catholic Church itself for decades. While some cases of sexual abuse in the Church were exposed piecemeal, such as in the U.S. state of Louisiana in the 1980s, the scandal exploded in 2002, when it was discovered that U.S.

bishops in the Boston area moved abusers from parish to parish instead of defrocking them. Similar scandals have since been discovered around the world and tens of millions of dollars have been paid in compensation.

While the pope has vowed “zero tolerance” for abusers in the Church, victims groups have accused him of not doing enough. They say he should do much more to make bishops more accountable for covering up abuse or not preventing it.

A commission he set up to advise him on how to root out abuse in the Church has struggled to find its stride. In February, Peter Saunders of Britain, a prominent and outspoken member, stepped down in protest. In March, Cardinal

George Pell, under fire for his handling of sexual abuse of children by priests in Australia decades ago, gave four days of evidence to an Australian government commission, which again put the Church’s problem with abuse on the world stage.

Six Funerals Held after Ohio Family Massacre More than a week after eight family members were found shot to death at four separate homes in rural Ohio’s Appalachian foothills, funerals for six of the victims were held on Tuesday as investigators continue to comb through evidence. The victims, all members of the Rhoden family ranging in age from 16 to 44, were executed on April 22 in a planned, “sophisticated operation,” officials said. Federal and state officials found three marijuana cultivation sites at one of the homes, but have declined to say whether they are linked to the deaths. David Dickerson from the Pike County prosecutor’s office told reporters after the church service on Tuesday that it was standing-room only in the church for the nearly 40-minute service for the six victims. Dickerson said the family was “beyond devastated” and that multiple teams of crisis counselors had been helping the family. “It has been a very hard 11 days,” he said. A lengthy procession that included six black hearses then took the victims to Scioto Burial Park in McDermott, Ohio. Officials have declined to reveal details of the investigation to avoid tipping off suspects. They have sent

more than 100 items to the Ohio Bureau of Criminal Investigation’s crime lab for DNA, ballistics and fingerprint analysis. The Ohio Attorney General’s office declined to comment further on Tuesday. Investigators have said they are not assuming the killings in Pike County, about 95 miles (150 km) east of Cincinnati, were committed by one person. Local media have quoted unidentified law enforcement officials as saying many theories are being considered, including a family feud or even the involvement of Mexican drug cartels. Many of the victims were shot in the head as they slept, authorities said. Three children were found alive. Six family members, including Christopher Rhoden Sr, 40; his ex-wife Dana Rhoden, 37; their three children Clarence “Frankie” Rhoden, 20, Hanna Rhoden, 19, and Christopher Rhoden Jr., 16; as well as Christopher Sr’s brother, Kenneth Rhoden, 44, were buried on Tuesday in West Portsmouth, Ohio. The first of the funerals was held last Thursday in northern Kentucky for Gary Rhoden, 38, and Hannah Gilley, 20, Clarence Rhoden’s girlfriend and mother of a 6-month-old boy who survived, was buried last Saturday.

DISCUSSING THE FUTURE

Jo Ann Jenkins and Soledad O’Brien discussing aging during the ongoing Milken Institute’s Global Conference in Los Angeles…yesterday

UN to Start Inspecting Commercial Shipments to Yemen The United Nations will start inspecting shipments to rebelheld ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday, some eight months after announcing it would establish such a procedure. Yemen relies almost solely on imports, but a 14-month long conflict between Houthi rebels and a Saudi Arabian-led coalition has slowed to a trickle commercial shipments to the impoverished country where 80 percent of people need humanitarian aid. The United Nations announced in September it would set up a verification and inspection mechanism. Then in October U.N. aid chief Stephen O’Brien said the United Nations was still trying to raise some $8 million to fund the Djibouti-based operation. It began operations on Monday, U.N. spokesman

Stephane Dujarric said in a statement on Tuesday, adding that the European Union, The Netherlands, New Zealand, Britain and the United States had provided financing. “It should provide fast and impartial clearance services for shipping companies transporting commercial imports and bilateral assistance to Yemeni ports outside of the authority of the Government of Yemen,” Dujarric said. The United Nations will ensure commercial shipments to rebel-held ports are not carrying weapons in violation of a U.N. arms embargo. The light U.N. regime will replace inspections by the Saudi-led coalition, which slowed commercial shipments. A Saudi-led coalition began a military campaign in Yemen in March last year with the aim of preventing Iran-allied Houthi rebels and forces loyal to Yemen’s ex-President Ali Abdullah Saleh from taking

IMF Sees Sub-Saharan African Growth Economic growth in sub-Saharan Africa will likely slow this year to its weakest in nearly two decades, hurt by a slump in commodity prices, the Ebola virus outbreak and drought, the IMF said yesterday. In its African Economic Out-

look, the Fund said the region would likely grow 3 percent this year - the lowest rate since 1999 - after expanding by 3.4 percent in 2015. Growth was seen recovering to 4 percent next year, helped by a slight recovery in commodity prices, and the

Fund said it was still optimistic about the region’s prospects in the longer term. “However, to realise this potential, a substantial policy reset is critical in many cases,” the Fund said. Affected countries needed to contain fiscal deficits as

the reduction in revenue from the commodities sector was expected to persist, it added. Major oil exporters Angola and Nigeria were hardest hit by the slump in commodities prices, as were Ghana, South Africa and Zambia, the report said.

control of the country. A month later the U.N. Security Council imposed an arms embargo targeting the Houthi rebels and Saleh’s troops. More than 6,200 people have been killed in the conflict, half of them civilians. The U.N. World Food Programme (WFP)

said in March that nearly half of Yemen’s 22 provinces are on the verge of famine. The Yemeni government suspended direct U.N.-brokered peace talks to end the conflict on Sunday after the Houthi movement and its armed allies seized a military base north of the capital Sanaa.

Pakistan: Party Accuses Paramilitary of Killing Prominent Member Pakistan’s Muttahida Qaumi Movement (MQM), the secular party that governs the port city of Karachi, yesterday accused the regional paramilitary Pakistan Rangers force of killing another one of its members while in their custody. MQM accuse the Rangers of having carried out dozens of extra-judicial killings of party members since the force launched a crackdown on crime in Karachi in 2013. Last year, the U.N. Working Group on Enforced or Involuntary Disappearances referred 55 cases of illegal abductions of MQM workers to the government, concluding a “pattern of specific targeting”of the MQM by Rangers. MQM said Aftab Husain, a prominent party activist and an aide to Farooq Sattar, MQM leader in the National Assembly,

was arrested at his house on May 1 and died two days later. The Rangers, who answer to the Ministry of Interior and to the army, say Husain was“wanted in several criminal cases”and had died of a heart attack. “During custody he complained of chest pain on Tuesday morning and was rushed to the hospital where he died,”the Rangers said in a statement. MQM have their main support base in Karachi, but law enforcement agencies and many residents accuse the party of racketeering, the abduction, torture and murder of opponents and holding the city to ransom by calling mass strikes at will. London-based MQM founder and leader Altaf Hussain called for an independent investigation into Husain’s death by Pakistan’s Supreme Court.

T H I S D AY WEDNESDAY MAY 4, 2016

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWSEXTRA

Again, Buhari Insists He Has Ordered Security Agencies to Deal Decisively with Herdsmen Catholic Bishops ask Nigerians to be patient with president Tobi Soniyi and Paul Obi in Abuja President Muhammadu Buhari has again said his administration will deal decisively and expeditiously with attacks on communities across the country by armed herdsmen. A statement issued in Abuja by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said Buhari reaffirmed his commitment to check the excesses of the herdsmen during a meeting with members of the Catholic Bishops Conference of Nigeria (CBCN) late last Monday. “Against the background of reports of continued attacks on communities across the country by armed herdsmen, Buhari late last Monday in Abuja restated his administration’s resolve to deal decisively and expeditiously with the matter,” Adesina said. According to him, Buhari confirmed that heads of national security agencies had been ordered to take all necessary action to apprehend and expose those behind the heinous attacks. “We are determined to secure all Nigerians and I have told the Inspector-General of Police (IG) and other security agencies, in very strong terms, to deal decisively with the attackers,” the president said. The president expressed his personal condolences to the Catholic Bishop of Enugu, the people of Ukpabi Nimbo and all other communities that have suffered fatalities and other losses from the recent attacks. Speaking on other national issues, the president assured the bishops that he was acting with deliberation and moving methodically to implement his change agenda for the good of the country. “We need to rebuild our institutions methodically, we need to change the way we do things. “In the last 10 years, crude oil sold for more that $100 per barrel, but Nigeria did not save. That is why we have found ourselves where we are today,” Buhari told the Catholic bishops, led by Most Rev. Ignatius Kaigama, the Archbishop of Jos. The president assured them that his administration was working very hard to fulfill all the promises

it had made to Nigerians, adding that his greatest motivating factor was the desire to bring positive change to Nigeria. On behalf of the bishops, Most Rev. Kaigama expressed the solidarity of the CBCN with the president. “We are willing to collaborate with you and your administration, in which we see hope for a greater Nigeria,” he told the president. The bishops pledged continued prayers for Nigeria and the government, expressing their conviction that current hardships were temporary, and Nigeria would soon overcome its present difficulties. Answering questions from journalists after the meeting, CBCN’s President, Kaigama, said Nigerians cannot continue to live under the grip of fear of attacks perpetuated by Fulani herdsmen across the country. He appealed to Nigerians to be patient with Buhari, saying the president was working hard to make life easier for the people. The cleric said: “The catholic bishops in Nigeria have come to the villa to greet the president. We had a warm and cordial meeting. We heard the president talk with passion about how to make this county better and to mobilise all Nigerians to selflessly put in their best. “We assured the president of our prayers, moral support and our desire to cooperate. In Catholic church, whether it is education, healthcare or social services, we have done quite a lot over the years. “With the willing disposition of the president and his attitude of embracing everyone, we felt we should spell out some areas of closer collaboration. “We found him a sincere man with great sense of dedication. He wants the best of this nation. We also want the best for this nation. “He agrees that not everyone is working as he expects. There are some who are clogs in the wheel of progress. We are praying and hoping that such people will see that Nigeria is greater than all of us, that we should develop patriotic disposition and our aspiration should be to put this country first.” He expressed the hope that if everyone worked in accordance

El-Rufai Reshuffles Cabinet John Shiklam in Kaduna The Kaduna State Government yesterday announced a reassignment of portfolios in the state executive council. A statement signed by spokesman to Governor Nasir El-Rufai, Mr. Samuel Aruwan, indicated that the affected involve four ministries. According to the statement, Prof. Jonathan Andrew Nok, the erstwhile Commissioner for Health and Human Services, was moved to the Ministry of Education, Science and Technology, while Dr. Shehu Usman Adamu who initially headed the education ministry was reassigned to the Ministry of Commerce, Industry and Tourism. The statement added that Mallam

Shehu Balarabe was moved from the Ministry of Commerce, Industry and Tourism, to take charge of the Ministry of Environment and Natural Resources. Aruwan disclosed that el-Rufai has nominated the Chief Resident Consultant of the Barau Dikko Teaching Hospital, Dr. Paul Manya Dogo, for appointment to fill the vacancy in the Ministry of Health and Human Services, as commissioner. He added that Dogo’s name would be forwarded to the state House of Assembly for confirmation. Meanwhile, according to the statement, the former Commissioner of Environment, Dr. Yau Idris, has returned to his former place of work at the Nigerian Nuclear Regulatory Agency.

with the president’s plan criminalities and other anti-social behaviour would give way. “We have every hope. We only need to be a little more patient,” Kaigama said. The clergyman said Buhari explained to them the difficulties, challenges, bottlenecks that he faces. He said: “We understood him fully. We equally call on Nigerians to give the president a chance. He is sincere, he is dedicated, he is committed and together, we shall make on wonderful progress.” The bishops called on the

government to support their projects. He said: “Area of education is our strong point in Catholic church. We build character and if that is defective, you can never have a well functioning nation. “We feel that when the citizens are well educated, then there is hope for Nigeria. Our schools need to be supported. We work as faith-based organisations, we run schools and hospitals to help the people. “Sometimes, government treats us as if we are dealing with Nigerians who are from

other countries. “Sometimes, we are slammed with levies in schools and hospitals instead for government giving us help and supporting us to do more to the people, they demand so much from our institutions and even impose levies on students and other people who make use of our facilities. “We are asking the president to kindly help. We also asked that in schools, there should be provisions for moral education and spiritual services. There should be places for worships.”

Kaigama expressed support for the fight against corruption, saying: ”Since 1960, the Catholic bishops have been talking against corruption, telling people to avoid it. It is a cancer, it is dangerous, it is a sickness and it is a social disease. “We have assured the president that we are 100 per cent with him in his fight against corruption. “With corruption, we can’t progress. With corruption, everything goes wrong, immorality takes over, retrogression takes place. “So corruption is a huge obstacle that has to be dismantled. “

NOT IN MY COUNTRY

L-R: Comedian, Mr. Gbenga Adeyinka; MD/Editor-in-Chief, Vanguard Newspaper, Mr. Gbenga Adefaye; Publisher, The Cable News, Mr. Simon Kolawole; lnitiator,’ Not in My Country’ , Mr. Akin Fadeyi; and Director, Media and Public Relations,Office of the Minister of Health, Mrs. Boade Akinola, at the media launch of Not in My Country in Lagos...yesterday Abiodun Ajala

NLC Tackles Okupe over Calls for Retrenchment of Civil Servants Paul Obi in Abuja The Nigerian Labour Congress (NLC) yesterday took a swipe at former Senior Special Assistant to former President Goodluck Jonathan, Dr. Doyin Okupe, over calls he made to governors urging them to retrench civil servants in their states as a palliative measure against the current economic crunch. The NLC President, Ayuba Wabba, accused the former presidential aide of flying a kite that is filled with lies and halftruth, aimed at hoodwinking the governors across the states. He said: “Ordinarily, we would not have responded to Doyin Okupe, former Senior Special Assistant to former President Goodluck Jonathan when he urged governors in a statement a few days ago, to retrench civil servants as a panacea to irregular payment of salaries, because we know him. “In his jaundiced argument, very much unlike one who is truly deserving of his certificate from a Medical School, Okupe said: “Virtually all state governments in the country have over-bloated civil service.” He explained that, “to underscore this point, between “2008 and 2009,

Ogun State received N2 billion monthly from the federation account and paid out N1.8billion as staff salaries, wages and overhead costs” to civil servants not more than 50,000 in a state with a population of 5,000,000. “In his view therefore it was “an obvious socio-economic absurdity and incongruity, where 10 per cent of the population was consuming 90 per cent of the wealth of the state.” “Okupe is bandying political statistics and this is neither good for his health nor the health of those with whom he seeks to ingratiate himself. We at the NLC believe in the equitable distribution of the nation’s resources. We will not subscribe to a situation whereby 10 per cent corner 90 per cent of the resources of the state.” Wabba stated: “It is in furtherance of this that we urge Okupe to do a forensic audit of what Ogun got, what it paid to civil servants, contractors and politicians. And what it used in running the Government House! “Okupe does not need a soothsayer or an economic guru to tell him the truth, the whole truth, nothing but the truth. If he falls for statistics like this, he will fall for anything, like he has done all his life.” He observed that, “at NLC, we do not believe staff salaries and allowances are reason(s) why

the economies of the states are in shambles. Unlike Okupe, we do earnestly believe the states are where they are because of serial acts of corruption in the past, failure to save for a rainy day, high cost of governance (via employment of unneeded aides on criminally high salaries), unlawful and equally unacceptable severance packages for ex-governors and their deputies, cost of political expediency, failure to invest, etc. By the way, we would want Okupe to let us know how much his monthly gross was before President Obasanjo showed him the door. He should also be patriotic enough to let us know what he did before his disorderly exit. “We would want Doyin Okupe to know the following facts: at difficult economic moments like ours, reflatory measures help to stimulate the economy and not deflatory measures which he canvasses. Deflatory measures will only help to deepen the misery of the people and further weaken the economy. Okupe could do well to ask President Obama what he did to restore the ailing American economy. “Although not justiciable, the 1999 Constitution (as amended) provides that the state shall ensure that “all citizens, without discrimination on

any group whatsoever, have the opportunity for securing adequate means of livelihood as well as adequate opportunity to secure suitable employment… equal pay for equal work. “Thus, it is not a favour when the state employs its citizenry; it is merely doing its duty as prescribed by the Constitution. A careful and honest assessment of the overheads of states will reveal that salaries do more good than any other overhead. “President Muhammadu Buhari in consideration of this, made available to the state governors bail-out funds for payment of salaries and pensions but only a few governors have properly applied these-funds. He stated that “this elicited a strong displeasure from the President only last week. Thus, instead of calling for the sanction of these governors, who by their conduct have created misery as well as overheated the polity, he is calling for the blood of hapless civil servants. But we know what Okupe is looking for. The savings from Jonathan’s administration job may have dried up and he needs a job! He is free to look for one but not at the expense of our members, please!,” Wabba concluded

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWSEXTRA

Rising Oil Prices will Test FG’s Ability to Pay Increasing Petrol Subsidy Kachikwu says price fluctuations pushing Nigeria to think homewards Chineme Okafor in Houston Texas Recent increases in the global prices of crude oil to an average of $45 per barrel could become some sort of test on Nigeria’s ability to cover for the differential in the open market price of imported refined petrol and the regulated domestic pump prices of the product. According to industry experts, based on the revised pricing template for petrol which the Petroleum Products Pricing Regulatory Agency (PPPRA) released recently and in which subsidy on petrol has increased to over N12 per litre that the government would have to find a way to cope with the payments if the conditions remained constant for more than five months. Based on PPPRA’s template, the government now pays to oil marketers N12.88 and N12.62 for every litre of petrol brought into the country. The subsidy payment is the differentials in the current expected open market prices of N99.38 and N98.62 per litre, and government regulated pump prices of N86 and N86.50 per litre for respective importations of the Nigerian National Petroleum Corporation (NNPC) and independent oil marketers. But at a 45 million daily national petrol consumption rate, the government will be paying an average of N579.6 million every day to oil marketers (N12.88 multiplied by 45 million). It would have to however make the payments through a N100 billion which was saved as over-recovery from marketers when the prices of oil was quite low earlier in the year. This N100 billion which the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, had confirmed was saved over time can only cover for an average of 173 days, which is a minimum of five months after which the

government will have to look for other means to pay subsidy if the market fundamentals still remain on this level. The PPPRA, which will review the pricing template by the end of the second quarter had also indicated that the government, did not make budgetary provisions for new subsidy payments. Meanwhile, Kachikwu has said the fluctuations in oil prices was making Nigeria think inwards and make the most of her local content law to cut production costs. Kachikwu said when he opened the Nigerian pavilion at the ongoing 2016 Offshore Technology Conference (OTC) in Houston Texas that the country was making the most of its local content policy which has seen it build more in-country capacity to do jobs that would have driven costs in the industry higher than they are now. “There is need for us to look inwards and see how we can optimise cost; reduce the cost of production so that we can remain afloat. “You cannot reduce the cost of production if you do not have Nigerian expertise in development of procurement materials,” said Kachikwu who was represented by NNPC’s Group Executive Director, Gas and Power, Mr. Seidu Muhammad. He further stated: “With the capacity building that is today going on with fabrication of so many equipment that we need in the oil and gas industry, you can be sure that of course, Nigeria is going in the right path. “Although, so many things are happening with the oil and gas industry, particularly with the dwindling prices of crude oil.” Similarly, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Bank Anthony Okoroafor, disclosed that the association in partnership with the NNPC was mulling up measures to certify the competencies of

Sultan: Calls for Scrapping of NYSC Uncalled for Mohammed Aminu in Sokoto The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, yesterday said the National Youth Service Corps (NYSC) has remained the only option of bringing Nigerians under one roof as a country, saying the calls by some Nigerians for the scrapping of the scheme should be disregarded. Speaking when the Director General of the NYSC, Brig -Gen. Suleiman Zakari Kazaure, paid him a courtesy call in his palace in Sokoto, the monarch maintained that people making such proposals for the scrapping of the scheme have negative minds and tendencies. He noted that the scheme has remained relevant and the only unifying factor in spite of diverse religious and ethnic differences. “We believe in Nigeria and its existence as one big family. Nigerians should continue to

assist one another to build Nigeria. “God cannot make a mistake by creating us together as a country and we will continue to do what is right in line with the Islamic teachings,’’ he said. The Sultan emphasised that Sokoto State was a model for the scheme, adding that the feat in the state should be replicated across the nation. He promised to continue to support the scheme at all levels and urged the DG to sustain the successes recorded by his predecessors. In a remark, Kazaure told the monarch that he was in the state as part of his nationwide tour of NYSC formations across the nation. He commended the Sultan for his contributions to sustainable peace and unity in the country. Kazaure therefore, appealed to the state and local governments in the country as well as other stakeholders to sustain their support to the scheme at all levels.

companies that execute projects in the country’s petroleum industry. Okoroafor also called for the deployment of over $500 million that has accrued to the Nigerian Content Fund (NCF) for upgrade of the industry’s in-country capacity. “PETAN as an association has been coming up with costs effective strategies to survive to be able to deliver quality services

to the industry even in midst of low prices. “PETAN has also introduced seal of quality and competence because the industry cannot move forward without this seal. During this period of low price, the association does not want people to be making mistakes on the job side,” he said. He added: “Our objective is

to ensure that we leverage on proven Nigerian companies in terms of services. We are not asking for patronage, we want Nigerian companies that have proven their competencies to be given jobs to do.” Okoroafor said it was time for the deployment of the over $500 million that has accrued to the NCF for capacity upgrade, saying: “That is

how Korean companies were built. “We don’t know why the fund is not used for the benefit of the indigenous operators because this fund belongs to us. There is nothing wrong if the Nigeria Content Development Monitoring Board (NCDMB) decides to empower companies with $20 million each with low interest rate to empower their capacities,” he explained.

WE WANTTO HELP

Minister of Power, Works and Housing, Mr. Babatunde Fashola (right); First Vice Chairman of the Nigerian Economic Summit Group (NESG), Mrs. Sola David Borha (middle); and Second Vice Chairman, Mr. Asue Ighodalo (left), during a courtesy visit to the minister to discuss issues relating to the sectors covered by the ministry in Abuja....yesterday

Lagos Records First Successful Bone Bridge Surgery in West Africa Creates 14 additional LASAMBUS operational points The Lagos State University Teaching Hospital (LASUTH) in December 2015 carried out the first successful bone bridge surgery in West Africa as well as successful cochlear implant surgeries on three deaf patients without the support of foreign doctors, the state government said yesterday. The state government, through LASUTH, also had its first successful kidney transplant carried out by the hospital’s team of urologists and nephrologists in November 2015 and discharged the patient in good condition on December 1, 2015, while another transplant is being planned. The state Commissioner for Health, Dr. Jide Idris, who made this known at the ongoing ministerial press briefing held at the Bagauda Kaltho Press Centre in commemoration of Governor Akinwunmi Ambode’s one year anniversary, said just in eleven months, the state government recorded remarkable feats in the health sector due to the purposeful leadership and support of the governor. He said in the period under review, LASUTH in collaboration

with Vision Care and South Korean Community in Nigeria provided free cataract surgeries for 120 Lagosians and treated 250 outpatients between November 9 and 13, 2015 with 100 percent success rate, while under the blindness prevention programme, a total of 7, 250 patients with varying ophthalmic conditions were screened at 29 different community screening venues out of which 4,867 representing 67.1 per cent were given free glasses. The commissioner said apart from the fact that LASUTH won several international awards of excellence in the period under review, the Departments of Internal Medicine, ENT, Psychiatry and Pediatrics were granted accreditations by the National Postgraduate Medical College of Nigeria, while the first female Oncologist in Nigeria, Dr. Fatiregun Omolara emanated from LASUTH. While reeling out the various completed and ongoing projects in medical centres across the state, Idris said a new Critical Care Unit at LASUTH and

Lagos State University College of Medicine (LASUCOM) has been practically completed and ready for commissioning, while the contract for renovation and extension of the Old Ayinke House has been re-awarded with immediate commencement of work, as well as the psychiatry ward. In the secondary health care, the commissioner said projects already completed included the purchase of 26 ambulances for General Hospitals and LASUTH, procurement and installation of 26 Mobile Toshiba X-ray machines, construction and equipping of Accident and Emergency Centre in Ikorodu General Hospital, construction of Sewage Treatment Plant in Apapa and Somolu General Hospitals, installation of internet facility at the Health Service Commission for improved effectiveness and seamless performance of its activities, while major renovation works are currently ongoing in all the general hospitals in the state, as well as LASUCOM and School of Nursing hostel, Igando. Under the school health intervention programme, Idris

said 16, 124 pupils in 33 public primary schools in 22 Local Government Areas and Local Council Development Areas in the state were screened for medical, dental and ear, nose and throat morbidities, while 11,327 were treated. He also said that 1,718,400 milk sachets were allocated to an average of 56,297 pupils in 1,018 schools across the state. ”I want to use this medium to express the profound gratitude of the ministry to the inexorable Governor Ambode for providing excellent leadership qualities towards making the health sector in the state compare favourably with international standards,” the commissioner said. Idris also appreciated contributions of donor agencies, development and implementing partners, WHO, UNFPA, UNICEF, PATHS 2, JICA, FHI/GHAIN, SuNMap, APIN, MSF, ALCO, IHVNEU-PRIME, Measure Evaluation, HSPF, MDCN, NMA, AGMPMPN, PCN, NANNM, Association of Laboratory Scientists and health workers across the state.

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWSEXTRA

Ogun PDP Exco Remains Intact, Party Chair Declares Sheriff Balogun in Abeokuta Following the alleged suspension of the Ogun State Chairman of Peoples Democratic Party (PDP), Mr. Bayo Dayo, by nine executive members, Dayo, yeaterday declared that the state executive of the party remained intact. In a statement issued in Abeokuta, he stated that “the attention of the Ogun PDP has

been drawn to the action of some former and suspended members of the party in which they said my humble self and the State Secretary have been purportedly suspended. According to him, ordinarily, we would not have joined issues with these characters but for the fact that lies told severally without a rebuttal will naturally put up the garb of truth. He continued: “I have decided

Osun is Dying under Aregbesola, Says SDP Yinka Kolawole in Osogbo The Social Democratic Party (SDP), Osun State chapter, has described as “unfortunate” the extent to which the financial and economic situation in the state has degenerated under the watch of Governor Rauf Aregbesola. Quoting the state chairman of the party, Chief Ademola Ishola, in a statement signed by the Director, Publicity and Strategy of the party, Mr. Taofik Alabi, the SDP chairman also accused many stakeholders in the affairs of the state of watching helplessly while the anomalies of this present administration continues. Ademola said reacting to the situation in the state was very necessary at the moment, considering how its resources are being wasted and how the workers are being ill-treated. The statement read: “It is all lies and misinformation for anyone to claim workers in Osun are being paid half salary monthly. What they collect is far bellow half salary. Information at our disposal indicates that these workers only collect half salary once in three months. “This means state workers above level ‘7’ in Osun will only have full salary of just two months out of one year. This is injustice and man’s inhumanity to man.” Ishola further lamented the administrative style of the present government, whom it accused of

lavish spending on irrelevances, stressing that there was little or nothing to show as justification for the huge debt. “This government will mark its sixth anniversary by November and it cannot point at any tangible project it has completed since it came on board. We only hear of federal allocations, monthly IGR in the state but what all these monies are being used for is not clear. “Our billions of naira disappear at will. The road projects are all there suspended; the school project it initially claimed has been discovered to be a combined efforts of both the federal and the state governments. “So, where exactly is the project Aregbesola is doing that will justify the missing money of this state and that will point to what led this state into financial marsh? This state has totally collapsed through his high-handedness and mismanagement.” The SDP boss however advised the labour union leaders in the state to distance selves from government activities so as not to become tools through which the government will be feeding the public with propaganda, especially when it comes to the issue of salary payments. He added that labour union leaders all over the world are never government’s mouthpieces but workers’ warlords, who are put in the best corner to check the excesses of the government.

Ambode Nominates Ex-Lagos CJ, Philips to Replace Adeyinka as LASIEC Chairman Lagos State Governor, Mr. Akinwunmi Ambode, has nominated the immediate past Chief Judge of the state, Justice Ayotunde Philips, as a replacement for the retired Chairman of the Lagos State Independent Electoral Commission (LASIEC), Hon. Justice Fatai Adeyinka. The governor, in a letter addressed to the state House of Assembly, which was read on the floor of the House yesterday, said the decision to nominate Justice Philips was pursuant to the powers conferred on him by Section 2 (1) and (2) of the LASIEC Act, 2008. According to the letter, which was read by assenmbly’s Clerk, Mr. Ganiyu Abiru, Ambode said the nomination of Justice Philips was in tandem with the provision of the law which mandated that the assembly must ratify such appointment by way of screening and resolution.

The letter read in part: “Accordingly, following the retirement of Justice A.F Adeyinka, the current LASIEC Chairman, Justice Ayotunde Philips (rtd) is being presented as the Chairman of LASIEC. “While looking forward for the favourable confirmation of the honourable House of Assembly, please accept the assurance of my esteemed regard,” the governor said. After the letter was read, the assembly adjourned to May 9, 2016 for deliberation on the governor’s letter. The assembly, it would be recalled, had earlier confirmed Ambode’s nominees for appointment as members of the Board of LASIEC. They are Dr. Bunmi Omosehinde, Mr. Lateef Raji, Mrs. Toyin IbrahimFamakinwa and Mr. Olusegun Ayedun.

for the sake of the unsuspecting members of our great party and the general public to put a lie to the misinformation from the impostors and set the record straight as follows: “While it is true that some of the renegades were elected with me and the Secretary, Alhaji Semiu Sodipo, as members of the State Working Committee during the 2012 Congresses of our Party held in Abeokuta, a good number of them are mere busy-bodies and impostors. “It is common knowledge that while some of them had either been suspended or expelled between 2012 and 2015 for various offences, ranging from anti-party activities to misappropriation of party/ campaign funds; others have since defected to either the APC

or SDP as clearly attested to by their operations and activities, during the last electioneering process; records are available and will be provided at the appropriate time. “ As a party that operates within the ambit of law and guided by the letters of our Constitution, I can confirm it authoritatively that they have all been replaced by other deserving, committed and loyal party men and women from their constituencies/zones. ”Their replacements are as follows: Alhaji Alli Ajibode replaced Elder Sola Soledolu as deputy chairman; Asiwaju Ademola Adesina is now the State vice-chairman (Central), while Hon. Boye Adeshina is the state vice-chairman (West). Other members of the exco include Hon. Koye Ijaduoye, State

Organising Secretary; Mr. Muyiwa Ojebiyi, State Youth Leader; Alhaja S.A. Akinola, State Woman Leader and Alh. Rahman Adedamola, the State Financial Secretary. Also, Hon. Gbenga Lekuti is the State Auditor and Barrister Shadrach Koleola is the State Legal Adviser.” The state Chairman said he wondered where “these people derived their powers from. Can they give or take what never belonged to them?” He added: “It is mischievous that most of these impostors were the same set of people that recently went to the courts in Abuja and Abeokuta, seeking court injunctions to sack the State Executive of our party, claiming that its tenure had elapsed. So, does it sound logical that it is the same set of people that have

again gone on air to proclaim a suspension of the purported expired state executive council? Can an “expired” exco be suspended? ”As the father of all, I am not angry with them but rather, I am pleading with them to eat the humble pie to read Section 8.8(a) & (b) of our party constitution and do the needful before it is too late as they can also feel the pulse of peace and reconciliation that is hovering over our party in the last few days. “My last line is an appeal to our party faithful state-wide, in the spirit of the ongoing peace and reconciliations within our party to take these personalities as the biblical prodigal sons to embrace and re-integrate them fully into party activities once they do the needful.”

PROMOTING GOOD MUSIC

R-L: Former Director-General, Nigeria Tourism Development Corporation, Mrs. Omotayo Omotosho; Songstar, Veronica Adaa; and a student of Harvard University,USA,MoyoFatokun,atthevideopre-launchofVeronicaAdaa“DoMeLikeThis”albuminLagos...recently AbiodunAjala

Oil Producing Communities Reject PIB Without 10% Host Fund Emmanuel Addeh in Yenagoa The Petroleum Industry Governance Bill (PIB) before the National Assembly continued to receive knocks from oil-bearing areas in the Niger Delta yesterday as residents of Ikarama and Okordia communities of Bayelsa State, rejected what they alleged was a doctored document. The communities called for the reintroduction of the 10 per cent host community fund in the new version of the PIB before its passage into law by the lawmakers. Making the call at an environmental parliament held in Ikarama to intimate residents on the provisions of the bill, over 80 participants, drawn from representatives of oil-bearing communities, youths and women groups, advocated the inclusion of the HOSTCOM fund in the bill. At the event organised by the Environmental Rights Action/ Friends of the Earth Nigeria (ERA/ FoEN), the participants unanimously called for the reinstatement of the host community development fund. A monarch, Chief Ediwini

Lambert, noted that though the political leadership in the region had not effectively managed the derivations and other resources that accrued to the area, it was not enough to deprive them of what rightly belongs to them. Local residents, including Mr. Moses Seleowei and Chief Raphael Warder, expressed delight at the interest of ERA in advocating for the rights of the rural oil communities and enabling them to make inputs in the legislative process. They called for a more holistic approach on the issue, regretting that host communities that had faced the adverse effects of oil exploration for decades, were left out in the new legislation. In his comment, Head of Field Operations at ERA/FoEN, Mr. Alagoa Morris, said the session became necessary so as to get feedback from host communities and present such for effective advocacy on the new bill. Reviewer of the current provisions in the bill, Dr. Tari Dadiowei, underscored the need to include environmental governance, community participation and

security in PIGB. Dadiowei, an expert in Conflict Resolution, examined the various components of the draft bill, and pointed out that the bill in its present form, did not guarantee community participation and protection of the environment. According to him, the bill is silent on who will bear the ecological debt when the oil resources are exhausted and was highly skewed in

favour of the international oil companies and their profit motive. The participants resolved that the legislature should ensure that the 10 per cent Host Communities Fund which was recommended in the previous version was reintroduced before its passage into law. They regretted that since 2008 when efforts were first made to introduce the PIB it had yet to see the light of the day.

MIPAN Elects Officials The Media Independent Practitioners Association of Nigeria (MIPAN) has elected new officials to run its affairs for the next two years. The election was held at the association’s annual general meeting held recently in Lagos. Dr. Ken Onyeali Ikpe from Allseasons Media Limited was elected the association’s President. According to a statement made available to THISDAY by the association, “Other elected officials were Mr. Olufemi Adelusi, BrandEye Media, Mr. Seyi Iwayemi,

Maximedia, Mr. Dipo Awopeju, Allseasons Media Limited, Mr. Yinka Adebayo, MediaReach OMD, Mrs. Violet Nath-Okoduwa, FCBBrandfirst. Vice-president – Assistant Secretary – Financial Secretary, Publicity Secretary, and Assistant Publicity Secretary respectively.” Speaking after the election, the President, Onyeali Ikpe, expressed his appreciation to the members for the overwhelming support enjoyed so far, and urged them to be committed to the ideals of the association.

WEDNESDAY MAY 4, 2016 • T H I S D AY

WORLD PRESS FREEDOM DAY

US Consular-General Tasks Nigerian Journalists on Objectivity NUJ wants a guarantee of press freedom Ejiofor Alike and Shola Oyeyipo The United States of America Consular General in Nigeria, Mr. John Bray, has urged journalists in the country to work to ensure press freedom and Internet nuetrality by offering the populace objective information on issues relating to the country. Bray, who made the call yesterday in his remarks during activities marking the 2016 World Press Freedom Day held at the multi-purpose room of the US Consulate in Lagos in collaboration with the Lagos chapter of the Nigerian Union of Journalists (NUJ), said more than ever before, the media in the country is empowered to give the people a voice and should effectively perform the function. He equally challenged Nigerian journalists to persist in the use of the Freedom of Information (FoI) Act passed in 2011 and also press hard for an amendment to strengthen

the law. Talking to media practitioners, Bray said: “I want to offer a bit of advice. Protect a free press and a neutral Internet in your country. The Nigerian people will rely on you to offer them objective information on major issues that impact the country. Today, your profession is by far better positioned to make significant contributions on behalf of the voiceless compared to the early years of democracy in your country. I wish you a stimulating and successful discourse. “Freedom of information is also closely linked to free and neutral Internet policy, which the US advocates strongly. The advent of the Internet has changed the way we live, study, and work. The ever changing technology has also produced unimaginable global opportunities. We have seen unprecedented innovation and growth driven by online activities. Education, entrepreneurship, healthcare, and good governance are accelerated by access to the Internet.

“Your profession has been profoundly impacted by social media. Today, we see every major broadcast and print media amplifying mainstream platforms via social media. Bloggers have carved a niche and have gained respect in contributing significantly to global discourse on major issues. “Overall technological innovation which drives social media has had a significant impact on globalisation and democracy. And in general, the principle of Internet neutrality affirms that start-ups have the same opportunity to access the Internet as established businesses. As well as academics and university students have the same level of access to the Internet as teachers and students in the elementary and secondary schools. No one should unfairly

slow down access to the Internet to make way for advertisers with more money. This is why we believe the Internet has broadened democratic principles. He noted that since countries that have adopted the Freedom of Information Act (FOIA) understand its value, Nigerians should work to make use of the FOIA that that the country adopted in 2011. “I encourage you to persist until the law is enforced, including pressing hard for amendment to strengthen the law,” he urged. Other speakers at the event included former Dean, School of Communication, Lagos State University, Prof. Lai Oso; former Editor, Next Newspapers, Ms. Kadaria Ahmed; West African representative, Committee to

Protect Journalists (CPJ), Mr. Peter Nkanga; Google Nigeria Country Manager represented by Google Communications and Public Affairs Manager for Anglophone West Africa, Mr. Taiwo Kola-Ogunlade; the Lagos State Commissioner for Information, Mr. Steve Ayorinde; NUJ National President, Comrade Abdulwaheed Odusile and the Lagos NUJ Chairman, Comrade Deji Elumoye. All the contributors to the theme of the event: Asses to Information and Fundamental Freedom and Human Right, harped on the importance of the journalism profession in informing the people and why practitioners must be at their ethical best in carrying out their responsibility of holding

government accountable to the citizenry. In a paper presented at the occasion, the national President of the Nigeria Union of Journalists (NUJ), Mr. Abdulwaheed Odusile called for a proper constitutional guarantee of press freedom in Nigeria and not just freedom of expression as contained in the constitution. He argued that “free press could be seen, identified and regarded as the bedrock, footing and base of good governance, peace and national prosperity”. Odusile said the effectiveness of the free press as watch-dogs should have the greatest impact upon stamping out corruption and promoting transparency and freedom of information.

FG Restates Commitment to Upholding FoI Act The Minister of Information and Culture, Alhaji Lai Mohammed, has restated the commitment of the federal government to upholding the Freedom of Information (FoI) Act as a necessary instrument in the fight against corruption and promoting transparency in governance. The minister made the remarks in Abuja yesterday in his message to mark this year’s World Press Freedom Day, which has the theme: ‘Access to Information and Fundamental Freedoms: This is Your Right.’ “We are indeed in a very interesting period, which calls for full support and use of the FoIAct and which recognises the citizen’s right to know, promote war against corruption and sustain economic development. If activities of public institutions are subjected

to scrutiny, it will be easier to measure their efforts against their goals and our expectations,” he said. He said the government has taken a bold step further in not just guaranteeing Freedom of Expression but creating access to information. “It is apparent that the tide today is to grant freedom of not just expression but also of access to information. However, each nation has to consider its own peculiarities in joining the fray. Since Sweden started the enactment several decades ago, many countries have embraced it and I believe many more are seriously considering the enactment. The fact is that if well utilised, an FoI Act will offer citizens a sense of involvement, belonging and fulfillment.

Saraki Commends Nigerian Media Omololu OgunmadeinAbuja Senate President Bukola Saraki, yesterday in Abuja congratulated media practitioners in Nigeria and the world over for what he described as their invaluable service to humanity as they celebrate the 2016 World Press Freedom Day. Saraki according to a statement by his Special Adviser, Media and Publicity, Yusuph Olaniyonu, also commended all Nigerians on the occasion of this year’s World Press Freedom Day, saying press freedom also connotes freedom of individuals to partake in the governance of the country by participating in discussing issues and also freely giving expression to their dreams and aspirations within the ambience of the law. According to him, celebration of World Press Freedom Day signifies the prime place the media occupy in the society “because it is not all professions that have a day set aside internationally to celebrate their contributions to society.” He further said “our Constitution

granted some responsibilities and specific freedom to the press in Sections 22 and 39” to further underscore the importance of the press in nation building. “This special Constitutional and institutional recognitions bestow on the press a sacred duty and responsibility to be fair to all, to adhere to truth and to consciously work fortheunity,progress and development of their immediate and larger communities,” he added. He called on journalists and other media practitioners to always abide by the ethical principles of their profession in the discharge of their duties. Saraki noted the contributions of the media to national development at critical moments of the nation’s evolution such as the fight for independence, fight against military rule and struggle to enthrone democratic governance in the country. He urged the press not to relent in holding government accountable to the people and to continuously remain a defender of the voiceless and downtrodden in the society.

NO TO DEMOLITION

L-R: President,Civil Liberties Organisation (CLO), Igho Akeregha; Head, Campaigns and Strategy, CLO, Mr. Chijioke Odom; Olorunsoga Market Leader, Mr. Adeyemo Adewale; and market women leader, Mrs. Esther Kehinde, at a joint press conference by the CLO and traders in Olorunsoga Market, Oshodi, over threat by the Lagos State Government to demolish the market, in Lagos...yesterday Dan Ukana

Director-General of UNESCO Calls on Governments to Unite in Pursuit of Press Freedom Peace Obi reportingfromFinland The Director-General of United Nations Education, Scientific and Cultural Organisation (UNESCO), Ms. Irina Bokova, has called on governments around the world to stand and remain united in the pursuit of press freedom and the right to access of information. According the Bovoka, a robust journalism requires a strong environment of press freedom and well-functioning systems to ensure the people’s right to know. She added that this is a moment for governments to stand with all journalists, to defend their safety. Speaking during the opening ceremony of the 2016 World Press Freedom Day in Helsinki, Finland with a theme ‘Access to Information and Fundamental Freedoms: This Is Your Right,’ Bokova said freedom of expression goes to the very heart of what it means to be human and that it is essential for human rights and dignity for nations’ aspirations for sustainable development, for common determination to build

lasting peace. “At this time of turbulence and change across the world, including new challenges that require global cooperation and action, the need for quality information has never been so important - this requires a strong environment of press freedom and well-functioning systems to ensure the people’s right to know. Deliberating on some of the key highlights of this year’s WPFD, she said: “In marking these anniversaries, WPFD this year highlights the importance of free and independent journalism for advancing the 2030 Agenda. This includes the safety of journalists. “At a time when, tragically, a media professional is killed every five days. Over the past decades, 825 journalists have lost their lives and what makes it worse is less than six per cent of the killings have been resolved.” Enumerating on some of the UNESCO’s efforts as a United Nations agency mandated to promote press freedom, Bokova

said “guided by the United Nations Plan of Action on the Safety of Journalists and the issue of Impunity, UNESCO is working with governments around the world to create a free and safe environment for journalists and media workers everywhere. “In Iraq, Nepal, Pakistan, South Sudan, in Brazil, Guatemala, Honduras, Mexico, Liberia, Jordan, and Somolia, we are working with governments with professional associations, with educational institutions, with justice ministries and security forces. I call today on every government, to respond to calls for information on judicial follow-up, Bokova urged. Speaking on the three unique events that stand out the this year’s WPFD, said that the 2016 WPFD coincides with three important milestones - the 250th anniversary of the world’s first freedom of information law, covering both modern-day Sweden and Finland, the 25th anniversary of the adoption of the Windhoek Declaration of press freedom principles and the

first year of 15 year life-cycle of the Sustainable Development Goals. Stressing the need to extend the defence for the fundamental freedoms to include digital journalism, also urged journalists to remain relentless saying that “it is a moment to shine light to access and share information, to succeed, we must be relentless and outspoken, we need every voice to be heard - especially those of women, she said In his opening remarks, the Prime Minister of Finland, Mr. Juha Sipila, noted that there was a strong link between freedom of expression, freedom of the press and democracy. Addressing journalists and other stakeholders from over a hundred countries, Sipila hinted that Finland is a model country when it comes to freedom of the press and that freedom of expression lies at the heart of democratic societies, as well as a prerequisite to democracy and an open, transparent, just and well-functioning society based on trust.

WEDNESDAY MAY 4, 2016 • T H I S D AY

CRIME&PUNISHMENT

Navy Impounds Marine Tanker for Illegal Oil Bunkering Army destroys bandit camps in Zamfara Rescues 80-year-old man from Boko Haram Senator Iroegbu in Abuja Operatives of the Nigerian Navy have arrested a marine tanker codenamed ‘Mt Marina’ for suspected illegal bunkering activities. The Director of Information (DINFO), Commodore Christian Ezekobe, in a statement yesterday, said as at the time of the arrest on April 28, 2016, the vessel was laden with 100 metric tons (MT) of suspected illegal refined diesel. Ezekobe stated that MT Marina, which was arrested by a naval warship Nigerian Navy Ship (NBS) Andoni, off River Sombreiro, was intercepted during a routine patrol of the area. “It was however discovered that

the vessel was processing approval for 200 MT as a cover up of her illegal activities. Meanwhile, the vessel and crew will be handed over to relevant prosecuting agencies after investigations,” he stressed. In a related development, he said a naval patrol team deployed by NNS Delta has arrested 13 persons suspected to be engaged in illegal oil bunkering, crude oil theft and piracy. Ezekobe said while 12 suspects were picked up at Forcados River, one suspect was arrested after some sea pirates engaged the naval patrol team in a shootout at Ndolo community in Ekeremo Local Government Area of Bayelsa State.

According to him, the 12 suspects earlier arrested on April 23, 2016 were picked up when the patrol team intercepted two Cotonou boats laden with about 150MT of substance suspected to be illegal refined diesel. He listed other items recovered from the suspects to include 31 tanks measuring 5,000 litres containing illegally refined diesel, 13 pumping machines, eight empty tanks of 5,000 litres each and seven boats fitted with 115HP and 75HP

outboard engines. In another development, the troops of 1 Division Nigerian Army have intensify clearance operations against cattle rustlers and armed bandits in Kaduna and Zamfara States. The Director of Army Public Relations (DAPR), Col. Sani Usman, said the troops had within the last four days, killed two notorious cattle rustlers that were suspected to have killed seven innocents persons in Bungudu Local Government Area

of Zamfara State. Usman said the troops have also arrested five declared wanted armed bandits and recovered arms and ammunitions from them and thereafter destroyed their camps. “The troops also conducted a clearance operation in Kuduru, Birnin Gwari Local Government Area of Kaduna State in which they arrested five cattle rustlers, recovered arms and ammunitions and then destroyed the armed bandits camps,” he stated.

In a related development, the DAPR said that the troops of 29 Task Force Brigade on clearance operations of remnants of Boko Haram terrorists, on May 1, 2016, rescued an 80 year old man in Shaltimari village, Borno State He said the elderly man, known as Mallam Ibrahim Matuk stated that he suffered untold hardship in the hands of the Boko Haram terrorists who killed all his children while in captivity.

Building Collapse: Court Grants Remanded Synagogue Engineers Bail Akinwale Akintunde The two engineers who constructed the collapsed six-storey guest house belonging to the Synagogue Church of all Nation (SCOAN), Oladele Ogundeji and Akinbela Fatiregun were yesterday released on bail. Justice Lateef Lawal-Akapo had on April 26 remanded the duo in prison after they were arraigned with their companies, Hardrock Construction and Engineering Company; and Jandy Trust Limited alongside the Trustees of SCOAN. The defendants were arraigned before an Ikeja High Court on 111-count charge bordering on criminal negligence, manslaughter and failure to obtain building permit preferred against them by the Lagos State Government for their involvement in the September 12, 2014 collapse of a six-storey guest house belonging to the church, which led to the death of 116 persons. Ruling on the bail applications, Justice Lawal-Akapo admitted the engineers to bail in the sum of

N10 million with two sureties having considered the arguments in the light of cited authorities by opposing parties. According to the judge, one of the sureties must be a civil servant who is not less than grade 14 level while the second surety must be a property owner in Lagos State. He said the sureties must provide evidence of three years tax payments, in addition to the conditions, utility bill to verify the addresses of the sureties and which would be verified by the police. The judge added that the accused must submit their travelling passports among others. Counsel to the engineers, Mrs. Titi Akinlawon (SAN) and Mr. Olalekan Ojo had argued in their bail applications that the “offences committed by the defendant is a bailable offences.” They also told the court that “granting the defendants bail will put them in best position to prepare for his trial. The lawyers also promised that the defendants would not jump bail.

PFN Wants FG to Arrest, Prosecute Arms-carrying Herdsmen Bassey Inyang in Calabar The Pentecostal Fellowship of Nigeria (PFN), Cross River State chapter, has asked the Inspector General of Police (IG) to urgently arrest and prosecute all gun-carrying Fulani herdsmen in the interest of the nation. The PFN said it was making the call because the carrying of arms without licence is illegal and therefore, violates the laws governing the possession of firearms. A communiqué signed by the Chairman, Rev. Lawrence Ekwok and Secretary, Frank Umo, and three others, issued in Calabar yesterday, condemned in strong terms, the attack and killing of people in the middle belt and southern parts of Nigeria by the Fulani herdsmen. The 11-point communiqué read as follows: “We call on the federal government to as a matter of urgency

ensure the arrest and immediate prosecution of the perpetrators of these heinous crimes. “PFN in Cross River calls on the various legislatures to enact legislations against free movement of destructive animals such as cows in their states. “The Cross River State House of Assembly should enact a bill prohibiting any portion of the Cross River State land to be forcefully taken or otherwise for the purpose of grazing cattle as it will attract negative consequences on the economy and lives of Cross Riverians. “The Cross River State PFN calls on all members of the National Assembly in the state to resist the National Grazing Reserve Bill in view of its negative economic consequences on the indigenes of the state, and on our already fragile pressure on our land.

ENCOURAGING THE YOUNGER GENERATION

L-R: Acting Executive Secretary, Oyo State Universal Basic Education Board, Mrs. Bola Eniola; Master Rokibu Oyewo; and state Governor, Senator Abiola Ajimobi, during the personal donation of school uniforms to 400 pupils of the school by the governor, in Ibadan...yesterday Oyo State Government

Bayelsa: Soldier Injured, Four Gunmen Killed in Ambush by Pirates Emmanuel Addeh in Yenagoa

A soldier was injured while four gunmen were killed in an unsuccessful ambush by sea pirates in Peregbene, along the Ogbia-Nembe waterways, Bayelsa State yesterday. Security operatives attached to the Joint Task Force, Operation Pulo Shield, the body designated by the federal government to fight criminalities in the region, reportedly overpowered the gang of sea robbers during a shootout, killing four members of the gang in the process. An unnamed private in the Nigerian army, was however injured in the gun duel that lasted over an hour, according to military sources. Reports say the marauders laid ambush for the gunboat conveying the soldiers to an undisclosed location for an official assignment, resulting in several casualties. The incident which occurred around noon yesterday, adds to

the many cases of attacks on troops by the youth gangs who engage in kidnapping for ransom, robbery, crude oil theft and attack on major oil platforms in the region. The troops were able to repel yesterday’s attack, but had one of their men shot in the leg by the suspected criminals. Coordinator, Joint Media Campaign Centre (JMCC), Col. Isa Ado, who confirmed the incident said that the soldiers were on patrol of the waterways when they saw the hoodlums between Peregbene and Obama. Ado said the suspected pirates were riding on a speedboat with 200 horse power engine which was banned in the state’s waterways when they came in contact with the army gunboat. It was gathered that when the boys saw that they had been sighted by the patrol team, who immediately opened fire, they tried to flee, but were felled by the soldiers gunfire. ‘’On sighting the gunboat, the gunmen tried to escape. Our troops fired at them while they

were trying to run away. As they were escaping, they were firing back at our troops. About four of them were hit by bullets. They were either dead or sustained serious injuries. “They navigated into a narrow creek, put off the engine of their boat and ran into the creeks. They escaped with their dead. One of our soldiers was shot in the leg and he was immediately evacuated to a hospital for treatment”, Ado said. He said the troops were still combing the creeks to locate the whereabouts of the gunmen, adding that the Commander of the OPS has ensured constant patrol of the waterways to fish out economic saboteurs and other maritime criminals in accordance with the directive of the Defence Headquarters. Meanwhile, another gang of suspected pirates has attacked a commercial boat conveying traders to Kaa in Khana, Rivers State. The gunmen reportedly shot and killed two of the traders, injured a kid and the driver of the commercial boat.

The travellers were said to have left Bonny Island in Bonny Local Government Area of Rivers State for Kaa when their boat came under attack. A source who lives in Bonny Island said the gunmen laid ambush and tried in vain to stop the vessel. “The boat has 200 horse power engine. So, the driver on sighting the gunmen sped off. The gunmen chased the boat but could not catch up with it. “They opened fire on the boat, killed two persons and injured the driver and a kid in the boat. The injured people are in a critical condition. The driver managed to bring the boat to Kaa,” the source said. Cases of sea piracy, vandalism and other criminalities have recently spiked in the oil-rich Niger Delta, the region that produces Nigeria’s oil wealth, a development ascribed to the weakening of the enormous powers wielded by some exmilitants and their loyalists in the previous administration.

WEDNESDAY MAY 4, 2016 • T H I S D AY

CRIME&PUNISHMENT

Ojukwu: Fulani Herdsmen another Form of Boko Haram Urges Buhari to draw a line

Paul Obi in Abuja Founder of the Marian Soup Kitchen (MSK) and Parish Priest of Holy Cross Catholic Church, Gwarinpa, Abuja, Rev. Dr Willy Ojukwu, yesterday said the on-going onslaught by Fulani herdsmen was another form of Boko Haram insurgency in the country. He made the remarks while speaking with journalists in Abuja

ahead of the inauguration of a N300 million skills acquisition and humanitarian centre by Archbishop of Abuja, John Cardinal Onaiyekan and Sultan of Sokoto, Alhaji Sa’ad Abubakar III, this week. Speaking on the backdrop of the recent sporadic attacks by herdsmen across the country, Ojukwu said: “The primary job of any government at all level is to protect the lives and property of the citizens. Presently in Nigeria,

Steer Clear of Our Territory, Yoruba Youths Warn Marauding Herdsmen Olakiitan Victor in Ado Ekiti Following the killings of innocent Nigerians by people suspected to be Fulani herdsmen in recent time, the National Coalition of Yoruba Youth and Students, has warned the assailants to stay away from Yoruba territory, saying the youths will resist attempt to carry out any genocidal action in the zone. It stated that the senseless killings in Enugu, Benue and other states by these suspected marauders underscored the level of porosity in the country’s security. Speaking on Monday during a remembrance lecture organised in honour of Mrs. Funmilayo Adunni Olayinka, the late deputy governor to ex-Governor Kayode Fayemi, its coordinator, Sunday Asefon, insisted that the zone will use every means possible to repel these aggressors. “Let me sound a note of warning to these suspected Fulani herdsmen to be careful because any attempt to invade our land shall be repelled by the youths and students of this zone. “We won’t allow aggressors to oppress and suppress our collective will. The presidency must rise to the occasion by letting its body language in discouraging this

dastardly act be felt in every corner across the country. “We will continue to embrace the change agenda of President Muhammadu Buhari and offer useful advise when necessary,” he said. Delivering a lecture entitled: ‘Women Contributions to Democratic Development in Nigeria’, a member of the seventh House of Representatives, Hon Bamidele Faparusi, canvassed for more leadership positions for women to facilitate gender equality in our system. Faparusi, who was represented by the Chairman, Nigerian Bar Association (NBA) Ado Ekiti chapter, urged Buhari’s government to comply with the 35 per cent affirmative action to give women recognition and higher responsibilities. The former federal lawmaker said the roles women of virtues liker Mrs Olayinka, Ngozi Okonjo-Iweala, Dora Akunyili Oby Ezekwesiliandothershaveplayed in the development of the country buttressed the fact that the country is blessed with women of virtues. He urgedgovernmentatalllevelstomuster the political will to eliminate all forms of discrimination against women in the country, to portray the country as truly egalitarian.

Court Remands Five in Prison for Beating Tanker Driver Yinka Kolawole in Osogbo A Magistrate Court sitting in Osogbo, the capital of Osun State, has remanded five touts in prison custody for allegedly beating a tanker driver to coma. Presiding Magistrate, Mr. Olusola Aluko ordered the touts to be kept behind the bars pending the determination of their bail applications. The suspects are: Toheeb Waheed (14) Adama Ganiyu (16) Moshood Raji (20) Rilwan Rauf(14) and Adelusi Sunday(23). The charge sheet alleged that the accused persons and others at large committed the alleged offence on April 30, 2016 at Akepe Area, Osogbo. The suspected touts, according to the charge sheet, constituted nuisance at the Akepe area by allegedly unleashing terror on

the motorists plying the roads. Briefing the court on yesterday police prosecutor, Sergeant Rasaki Olayiwola, said the accused persons inflicted injuries on the left eye of Mr Akeem Tijani, the tanker driver, following his refusal to give them a sum of N10,000 which they demanded for as “street money” (owo orita). Olayiwola further explained that the accused after beating Tijani to coma, also damaged one side of mirror valued at N30,000 and finisher valued at N50,000 of his tanker with registration SGB 248 XB. He said the alleged offence was contrary to and punishable under Section 516, 355, 451, 249 (D) of the Criminal Code Cap 34 Vol. 11 Laws of Osun State of Osun. But the accused persons pleaded not guilty to the four-count charge of conspiracy, malicious damage and assault slammed against them.

Boko Haram inflicts a lot of pain and hardship, destroys life and property. Initially the government of the day took it lightly, till it went out of hand. In view of this, I call on the federal government to wake up and take the present Fulani herdsmen very serious. They are another form of Boko Haram. A stitch in time saves nine. Buhari government should make hare while the sun shines. These herdsmen must.” Ojukwu further stated:“some people seem not to value or know the sacredness of life. It belongs to God. Should these herdsmen

be treated with soft gloves, while they invade a peaceful community – destroy life and property? He asked. Ojukwu, a senior Catholic priest in the Archbishop of Abuja, expressed his displeasure with the response of government since the attacks by herdsmen took a new turn. “Sincerely, I am not impressed with the utterances, actions of our present government, it is unacceptable, very slow, unconvincing and highly discouraging,” he said. The Catholic priest also urged

President Buhari to “draw a line on the sand and enforce it; let us not wait till hundreds of lives are destroyed or when they get out of hand. We need more patriotic, convincing action and statements from our government on this issue.” He commended the efforts of the president on the recovered looted funds, stressing that, there is need to also contain the Fulani herdsmen attacks that have been recorded in the north and some parts of the south. Speaking on the skills acquisition and humanitarian centre, Ojukwu stated that “the centre will provide

a wonderful good condition where young children, teenagers of Christians and Muslims come together side by side without rancour or prejudice.” He appealed to Nigerians not to wait for government to do everything for “our poor and less privilege, individuals and groups should help. Government of course should do what it takes to go extra miles to help and care for the poor. The greatness of a nation is measured on how she cares for the citizens, more so, for the poor, need, widows and orphans.”

CRY FOR HELP

Traders of Olorunsogo Market, Oshodi, protesting the threat by the Lagos State Government to demolish their market in Lagos...yesterday. Dan Ukana

EFCC Arraigns Alleged Internet Fraudster for $9,200 Scam Court remands business woman for N25.9m fraud The Economic and Financial Crimes Commission (EFCC) yesterday arraigned one Ighofose Oyoma before Justice E. A. Obile of the Federal High Court sitting in Warri, Delta State on a seven-count charge bordering on conspiracy, forgery and obtaining money by false pretence to the tune of $9,200. Ighofose was arrested sometime in May, 2015 in Calabar, Cross River state following intelligence report on his involvement in internet scams. During investigation different scam mails which he used in defrauding his victims , mostly foreign women by presenting himself as MikeAnderson, an American businessman, were recovered. One of the charges read: “That you Ighofose Oyoma (a. k. a) Mike Anderson, on or about the month of May, 2014, at Warri, Delta State, within the jurisdiction of this Honorable Court did conspire with one BrightAchi and Desmond (now at large) to commit felony to wit: obtaining money by false pretence, and thereby committed an offence contrary to Section 8 (b) and punishable under Section 1 (3) of the Advance Fee Fraud and Other Related Offences Act, 2006.

The defendant pleaded not guilty to the charge when it was read to him. In view of his plea, prosecution counsel, M.T. Iko, urged the court to fix a date for the commencement of trial and to remand the defendant in prison custody. However, the defence counsel O. W. Ewenode, informed the court that he had filed a summons for bail and served same on the prosecution. Justice Obille adjourned the matter to 23rd May, 2016 for hearing of the bail application and ordered that the defendant be remanded in prison custody. In another development, the anti-graft agency yesterday also arraigned Obiageli Funmilayo Nwagu on a six-count charge of obtaining money by false pretence and issuance of dud cheques before Justice C. O Ajah of the Enugu State High Court. The accused person pleaded not guilty on all counts. In view of the accused person’s plea, the defense counsel, O.A.U Onyema prayed the court to grant the accused bail. But the prosecuting counsel, M.A Shehu opposed the bail

application and immediately drew the attention of the court to two separate applications for bail by the defence. The defence counsel immediately withdrew the earlier application, which the court granted. The EFCC counsel then prayed the court to adjourn the case to enable the prosecution respond to the bail application. “Filing two different motions for bail for the same accused person in the same court is an abuse of court process hence I could not respond to any of the motions. I therefore pray the court to adjourn to allow prosecution file its counter to the motion.” Shehu said. The court granted the prosecutions’ plea, and then adjourned to June 6, 2016, for hearing of the motion for bail and commencement of trial, while the accused person continued to enjoy the administrative bail granted her by the EFCC. Nwagu allegedly took a loan of N8, 433,547.00 from a licensed money lender, and further introduced seven others who jointly took loans from same lender, with

Nwagu standing as guarantor. The monies borrowed plus accrued interest amounted to a total sum of N25, 859,031.00, for which all seven borrowers and Obiageli issued cheques of different banks which when presented for payment were returned unpaid as the various accounts were not funded. One of the charges read: “That you, Obiageli Nwagu trading under the name and style of Pizzaz Enterprises on or about the 2nd day of December, 2013 at Enugu within the jurisdiction of the High Court of Enugu State issued a First City Monument Bank Plc cheque No: 01952241 dated 2ndDecember, 2013, valued at N3,800,000.00 to Chinwe Uzakah, the said cheque when presented for payment within three months was dishonored on the grounds that insufficient funds were standing to the credit of the account upon which it was drawn and thereby committed an offence contrary to Section 1(1) of the Dishonored Cheque (Offences) Act, Cap D11, Laws of the Federation 2004 and punishable under Section 1(1) (b) of the same Act.”

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWSEXTRA

15m Nigerians Suffering from Asthma, 100m Others Likely by 2025 Okon Bassey in Uyo The President of Nigerian Thoracic Society, Prof. Etete Peters, has raised the alarm that no fewer than 15 million Nigerians are suffering

from asthma while an estimated 100 million could suffer from the ailment by 2025, Peters who raised the alarm yesterday in Uyo, Akwa Ibom State capital, at the 2016 Asthma day

Don’t Incite Ibadan People against Igbo Community, Baale Tells Igwe Idu Ademola Babalola in Ibadan The Baale of Ekotedo in Ibadan, Chief Taye Ayorinde, has advised those whipping up sentiments and attempting to cause crisis the recent elevation of Chief Alloy Obi as the Balogun of Ibadanland to perish the thought and respect distinct tradition of Ibadan for peace to reign supreme. Specifically, Ayorinde took serious exceptions to inflammatory, unguarded and diversionary media report credited to a traditional ruler from Anambra State, Igwe Martin Ezeh Idu II, castigating Olubadan over the recent elevation of Obi over a certain Alex Anozie. Ayorinde in a chat with journalists yesterday said “the statement is capable of causing upheaval in the peaceful city of Ibadan as Ibadans don’t joke with issues capable of dragging the good name of his imperial Majesty Oba Adetunji in the mud. A traditional ruler should always refrain from statement and issues capable of causing disaffection, between the two tribes who have been living together peacefully for centuries because of inordinate ambition of somebody.”

For ease of reference and posterity, Baale Ayorinde reminded Igwe Idu that “Olubadan Emmanuel Adeyemo had in July 1997 banned Alex Anozie from being a Chief in Ibadan via letter EAA3/Vol.1/97. Whereas, Obi became Balogun of Igbos to Olubadan in 1996, a development which Oba Adetunji only revisited recently through the coronation ceremony of Obi in order to douse the 20years leadership tussle among the Igbos in the city.” Speaking further, Ayorinde recalled that, “for many years, we had the two Hausas at Sabo and Sasa at Mokola and three Igbos all chiefs installed by Olubadan of Ibadanland and his council under the cover of Ekotedo which is the main base of Igbos in Ibadan.” Contrary to the views expressed by the said monarch from Anambra that Anozie should be allowed to be the Eze Ndigbo of Oyo state, Baale Ayorinde said “it is another ploy to beg for recognition of Eze in Ibadan. We are not interested in any Igbo title in Ibadan. The Olubadan-in-council cannot be remotely controlled by any Anambra chieftaincy or Igbo title.

in the state attributed the increase of the ailment in the country to urbanisation and uptake of Western lifestyle especially in developing countries. Peters who is also the Chief Medical Director of the University Uyo Teaching Hospital (UUTH), said asthma has been one of the most chronic lung diseases affecting over 400 million people worldwide and remained the most common chronic diseases in children. He disclosed that the Society had formulated a National Asthma

Freedom Nigeria (WILPF), Forum for Promotion of National Ethos and Values (FPNEV), Women Aid Collective Enugu (WACOL) and J. C. Ibekaku Hope Project(JCIHP). Others are: Women in Peace building network (WINET), Federation of Muslim Women Association Nigeria (FOMWAN), Civil Resource Development and Documentation Centre (CIRDDOC), FIDA, NAWOJ and CWO. Meanwhile, Enugu State House of Assembly has asked President Muhammadu Buhari to order the redeployment of all Heads of Security agencies, including the police, DSS, the military and the Nigeria Security and Civil Defence Corps (NSCDC) in view of their inability to avert the bloodbath that took place in Ukpabi Nimbo community last week despite initial security tip-off. In a unanimous resolution at its sitting on Tuesday presided over by Speaker, Edward Ubosi, the lawmakers insisted condemning the killings in the troubled community, maintaining that what transpired at Nimbo Community should be conveyed to all the international human right organisations. In addition, the House urged the state executive led by Gov. Ifeanyi Ugwuanyi to liaise with the National Emergency Agency, NEMA to ensure that the displaced people of Nimbo are taken care of. Thanking his colleagues for

while a sizeable number still dies from the disease. “An estimated 75 per cent of hospital admissions for asthma and as many as 90 per cent of the deaths are avoidable, Nigeria has lost many gifted and illustrious sons and daughters prematurely due to asthma. This should not be so. “It is typically characterised by recurring respiratory symptoms such as coughing, wheezing, shortness of breath and chest tightening. These symptoms are

variable and can fluctuate for each individual over time.” Peters said. Stressing the need for affordable clean energy sources for Nigerians, he said that household air pollution remained a major contributor not only to asthma attacks, but also to other lung diseases which have deleterious impact on the developing lungs of children. Adding, “other factors that aid asthma include diet, low level or maternal level of Vitamin D during pregnancy, climate change, air pollution, and cigarette smoking.

ACCOUNT OF STEWARDSHIP

R-L: Special Adviser to the Governor on Primary Healthcare, Dr. Olufemi Onanuga; Commissioner for Health, Dr. Jide Idris; and Permanent Secretary, Ministry of Information and Strategy, Mr. Fola Adeyemi, during the ministerial press briefing to commemorate the first year in office of Governor Akinwunmi Ambode in Alausa, Ikeja...yesterday

ENUGU KILLINGS, AN ACT OF CRIMINALITY, SAY SHETTIMA, OKOROCHA herdsmen’s attack were frustrated by security agents. He consoled the women and people of Nimbo and appealed to those who ran away for dear life to return as government was about to set up IDP camp for them. He also announced that the government and all the Bishops in the state would be holding prayers at Nimbo on Thursday to pray for God’s intervention and the return of peace. Ugwuanyi expressed gratitude to God that Ukpabi-Nimbo killings were attracting the attention of the entire country and the world at large, saying that it means there will be concerted effort to find solution to the menace. Earlier in a statement jointly signed by the groups which they handed over to the governor, the spokesperson, Mrs. Joy Onyeso said the 13 NGOs decided on the protest after their meeting in Enugu. “We strongly condemn the killings, rape, abductions and maiming of our people in vilnerable communities in recent past, especially the killings on April 25th at Nimbo Community of Uzo-Uwani LGA that claimed several lives. “We strongly condemn security agencies who despite early signs failed the law abiding citizens they were supposed to protect”. The groups include: “Women’s International League for Peace and

Guideline that would help avoid unnecessary and preventable deaths. According to him, the society has begun collaboration with governments at all levels to conduct epidemiological studies to determine the actual burden and treatment of asthma through evidence based approach but regretted that less progress has been made despite recent efforts. “Despite availability of different asthma drugs, a significant number of asthma patients are still limited with their asthma,

making robust contribution to a motion brought by the member representing Uzo-Uwani at the House, Hon. John-Kevin Ukuta, on the menace of Fulani herdsmen, speaker of the House, Hon. Edward Ubosi urged the people of Enugu State not to live in fear or to take laws into their hands as government is doing everything to protect their lives and property. “I thank you all for your contribution to the motion. You all spoke from your heart because human lives were involved. However, I urge the people of the state not to live in fear or to take laws into their hands,” Ubosi exhorts. Following the attack on the Enugu community by herdsmen which led to the death of scores of innocent citizens and the burning of several houses and property which has caused outrage, the Inspector General of Police (IG), Solomon Arase has ordered the redeployment of the Enugu State Police Commissioner, Nwodibo Ekechukwu to the Eastern Port Police Command. A new Commissioner of Police, Emmanuel Ojukwu, has subsequently been appointed for Enugu State. Until his appointment, Ojukwu was the Commissioner of Police, Eastern Port Command. He was at one time the Commissioner of Police, Kogi State.

Lagos Targets 25% Increase in Food Supply by 2019 Says MoU with Kebbi on rice production on course Lagos State Commissioner for Agriculture, Mr. Toyin Suarau, yesterday reiterated the resolve of the state government to increase the aggregate food supply of the state from less than 15 per cent to 25 per cent within the next four years through various projects and programmes. Suarau who said this at the ongoing ministerial press briefing to commemorate the first year in office of the Governor Akinwunmi Ambode-led administration in Lagos, noted that the aggregate food supply internally is less than 15 per cent of total food consumption but added that the state is poised to increase this to 25 per cent within the next four years. The commissioner said the ministry intends to host a world-class food security summit with the aim of attracting organsations that seek to partner with the state government in the realisation of the food security agenda and to redress the food security challenges of the state. This, according to him, will unlock the agricultural potentials in the state which will ultimately open up employment and investment opportunities with improved social welfare. He said the state has continued to

intensify efforts in the agricultural areas where it has comparative ecological and socio-economic advantages, despite its highly industrialised status, populationdensityandpressureonland for non-agricultural purposes. Theseareas,accordingtohim,include “fisheries, livestock and vegetable production as well as agro-processing with emphasis on value addition.”He said as part of effort to increase food supply and ensure food security in LagosState,thestategovernmentthrough the Ministry ofAgriculture is vigorously implementing the state’s strategic food security plan with programmes and projects that have remarkable impact on food security in the state. According to him, some of the programmes and projects intensified in the last one year include; collaboration between Lagos and Kebbi States for the developmentofagriculturalcommodities like rice, wheat, ground-nut, onions, maize/sorghum and beef value chains; Agric Youth Empowerment Scheme (AGRIC-YES)Araga,Epe;andcontinued establishment of infrastructural facilities at Songhai-Avia, Badagry under the Agricultural Youth Empowerment Scheme. Highlighting the achievement of the state government in the agriculture sector, Suarau said that the signing of a Memorandum of Understanding

(MoU) between Lagos and Kebbi States to establish a Joint Venture using Special Purpose Vehicle (SPV) LASKEBAgricultural Production and Marketing Company (LAPMCO) on thedevelopmentofcommoditysuchas rice, wheat, ground-nut, onions, maize/ sorghum and beef which took place on March 23, 2016 is geared towards increasing food supply and ensuring food security. He explained that the state government has continued to address the various challenges facing agriculture in the state such as declining land for agricultural activities, encroachment by land speculators as well as promoting the utilisation of agricultural land for its intended purposes, adding that the Agriculture Ministry has intensified the establishment of additional farm estates in Eluju-Mowo and Igbodu respectively through Public Private Partnership (PPP) arrangement. He revealed that the Ministry intends to set up two major Abattoirs at Epe and Ojo Local Government Areas in addition to the one at Oko Oba, adding that the development of mini modernised abattoirs in five approved locations of Ilaje- Bariga, Ikorodu, Agbowa, Matori and OtoAwori through PPP arrangement has commenced.

WEDNESDAY MAY 4, 2016 • T H I S D AY

NEWSEXTRA

Presidential Committee on Anti-corruption, CSOs Partner to Fight Corruption Bennett Oghifo The Presidential Advisory Committee on Anti-corruption (PACA) and

Civil Societies Organisations (CSOs) have agreed to establish a robust partnership in the anti-graft war with a pledge to facilitate an all-inclusive

Witness Tells Court How N60m was Withdrawn from NIMASA Mr. Oliver Enwerem, a prosecution witness in the ongoing trial of a former Director- General, Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi, yesterday revealed how N60 million was withdrawn from the account of Gama Marine Ltd, a contractor with NIMASA. Enwerem, a Compliance Officer with Access Bank Plc, made the revelation before a Lagos High Court sitting in Igbosere, Lagos Akpobolokemi is standing trial over alleged theft of N754.7 million belonging to NIMASA. He is charged alongside with six others, who are: Ezekiel Agaba, Ekene Nwakuche, Amechee Juan, Vincent Udoye, Adegboyega Olopoenia and a company, Gama Marine Nigeria Ltd. They are standing trial on a 13-count charge bordering on stealing and forgery, preferred against them by the Economic and Financial Crimes Commission (EFCC). Enwerem, was led in evidence by the anti-graft agency counsel, Mr. I. A Muhammed. He said the money was withdrawn in three trenches from Gama Marine Ltd’s account with the bank in favour

of the fifth accused. Enwerem said that on February 2, 2015, there was a credit of N67.5 million paid into Gama Marine Ltd’s account by Committee on Maritime. He also said on same day, there was a credit of N28 million and a N39.5 million which were paid into the account of Gama Marine Ltd. The witness also testified that between February 10 and February 11, 2015, there was a withdrawal of N60 million from Gama Marine, which was paid in favour of Vincent Udoye, adding that it was withdrawn in three trenches. However, during cross examination, Enwerem admitted that the first, second, third, fourth, sixth and seventh accused were not beneficiaries in the above mentioned transactions. The News Agency of Nigeria (NAN) reported that at the last adjourned date, the trial was stalled due to the failure of the prosecutor who appeared for the EFCC to produce the fiat of the Attorney General of the Federation (AGF). Justice Raliat Adebiyi, after listening to the argument adjourned the case till May 4, for continuation of trial.

approach towards implementing a resolution of the conference of states parties to the United Nations Convention Against Corruption (UNCAC) to halt the tide of corruption. In a statement issued at the end of the second meeting of the PACA, ACAs and CSO groups, under the auspices of the European Union (EU) funded project - ‘Support to Anti-Corruption in Nigeria,’ which is being implemented by the United Nations Office on Drugs and Crime (UNODC) and the United Nations Development Programme (UNDP), it was observed that there was a need for an inclusive strategy for the popularisation of the resolution of the Sixth Session of the Conference of States Parties to the United Nations Convention against Corruption (St. Petersburg Resolution). Participants resolved to embark on advocacy geared towards the popularisation and effective implementation of the Sixth Resolution of the Conference of the States Parties to the UNCAC. Resolution 6/2 of the Conference of the States Parties to the United Nations Convention Against Corruption, “Urges all states parties to cooperate to recover the proceeds of crime, as defined in the convention, including embezzled public funds and stolen assets, to prevent and detect transfers of proceeds of crime, including

off-the-book assets derived from corruption, at home and abroad, and to demonstrate strong commitment to ensuring the return or disposal of such assets, including their return to the countries of origin, in accordance with article seven of the United Nations Convention Against Corruption.” The Abuja meeting was convened under the auspices of the EU funded project - “Support to AntiCorruption in Nigeria”, which is being implemented by the United Nations Office on Drugs and Crime (UNODC) and the United Nations Development Programme (UNDP). The PACA reaffirmed its commitment to collaborate with relevant stakeholders to address identified priority issues relating to the implementation of Resolution 6/2 of the sixth Conference of States Parties of the United Nations Convention Against Corruption (UNCAC), to facilitate international cooperation on asset recovery and the return of proceeds of crime to prior legitimate owners. Participants at the workshop also called for collaboration among PACA, CSOs and the media in the anti-graft fight of the present administration, and proactive measures in investigating corruption cases. In a clearly articulated position paper by Mr. Olanrewaju Suraj of the Civil Society Network Against

Corruption, on behalf of the CSOs, made recommendations on issues that are considered pertinent to the war against corruption. In this regard, he called on PACA to use its good offices to influence Government’s quick responses on such issues and to help facilitate the domestication of the St. Petersburg Resolution and advocacy for its implementation. Prof. Femi Adekunle challenged the civil society organisations to intensify actions in the fight against corruption in the country by mobilizing people in taking actionable campaigns in peaceful protests to national assemblies and appropriate authorities. He described President Muhammadu Buhari as the oasis of integrity in a desert of corruption, and urged the CSOs to be action oriented in support of the anti-corruption fight of this present administration by having a platform to mobilise people to take actionable actions. Also speaking, Dr. Benedicta Daudu, (PACA) observed that the committee was more of an advisory to the presidency on corruption issues and had held meetings and trainings for relevant anti-corruption agencies which had led to the production of information on corruption and intelligence sharing manuals including pleas bargain manuals, sentencing guidelines for prosecution of corruption cases and reviews of activities of

Anti-Corruption Agencies and its challenges. Mr. Eze Onyekpere of Centre for Social Justice, in his presentation called for serious collaboration among ACA, CSOs and media, flayed the attitude of ACA in not sharing information with the CSOs, media and even among themselves but engaged in unhealthy competition among the agencies. Stressing the need for organised labour, ASUU, FBOs to join the antigraft war, Onyekpere called on the present administration to be holistic in the anti-corruption fight, to run an open and transparent government with respect for the Freedom of Information Act. The participants emphasised the need for a collaborative effort in combating corruption as well as taking proactive measures in investigating corruption cases. Stressing the imperative of an all-inclusive approach in the fight against corruption, they called on Anti-corruption agencies to be more open to citizens and members of the public, especially the Media and the CSOs, about the details of asset recovery and the anti-corruption war. Among other resolutions adopted at the meeting, CSOs also recognised the need to diversify approaches and thus resolved to incorporate more mass actions as part of the strategies in the fight against corruption.

Bailout Fund: Ondo Rejects ICPC Report, Demands Retraction The Ondo State Government has asked the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to correct itself over the misinformation published on the bailout received by the state government to offset part of its workers salaries. The government, in a statement issued by its Commissioner for Information, Mr. Kayode Akinmade, described the report as misleading, stating that the state government added N50million to the bailout fund before it could meet the payment of outstanding salary arrears till June 2015. The government said the bailout fund it collected was N9.443.06, which was augmented with N50million which brought the total disbursement to N9.493.91. According to him, all relevant document and bank transfers on the disbursement of the fund were presented to ICPC officials that came to monitor the disbursement of the fund. “Each claim of payment was investigated and confirmed to be

true by the ICPC investigating team and at the end of its visit the government was commended for its effective operation, clinical and accurate disbursement of the said fund,” the statement said. Akinmade further stated that the labour union leaders in the state were dully briefed and approved of the disbursement process. He thus urged the anti graft agency to correct itself of the misrepresentation. Condemning the report, government said: “It is unimaginable that a government that is paying the highest minimum wage to its workers in the country against all odds, would divert loan given it to enable it fulfil its monthly obligation to the same workers following the near collapse of the nation’s economy which has made the obligation challenging.” The state government thus called on the ICPC to investigate the report and as a matter of urgency put the record straight by reporting its exact findings when it came to the state to make verification on the bailout fund application.

PUTTING HEADS TOGETHER

Anambra State Governor, ChiefWillie Obiano (right), and National President, All Nigeria Confederation of Principals of Secondary Schools (ANCOPSS) , Hajiya FatimaAbdulrahman,duringtheconfederation’s59thnationalcongressattheAlexEkwuemeSquare,Awka...yesterday

Ondo Health Workers Protest Non-payment of Five Months Salary James Sowole in Akure Activities at all government health facilities in Ondo City was yesterday paralysed as health workers in the service of the Ondo State Government trooped out to streets to protest non payment of their five months salary. The workers comprising doctors, nurses, phamacists, laboratory attendants, records officers gathered as early as 8a.m. at the Specialist Hospital Ondo with different placards and leave branches changing solidarity songs. The protesters also barricaded road leading to the Mother and

Child Hospital, thus paralysing vehicular activities in the area. Some of the placards carried by the protesters include:”Pay our salaries “ “shall we die before you pay us” “we are saving life pay our salaries and safe us from hunger” among others. However, the state government has appealed to the protesters to be patient with the government, saying efforts were ongoing on how to pay the workers salaries. He said: “We will continue to beg the workers, it is not that the government is taking them for granted, it is due to the current economic situation but I want to assure them

that very soon, the government will pay them. “We understand them and they deserve to be paid, we did not stop working on the salary issue, very soon they will get their pay “ The aggrieved workers said lives had become so unbearable as they can no longer feed their families due to their unpaid salaries. They lamented that they could no longer be the good husbands at home again. Some doctors and nurses from Mother and Child Hospital and trauma center said despite their

professional contributions to the medical village which had accorded it international recognition, the state government had refused to pay their wages. The workers moved en masse to the palace of Osemawe of Ondo Kingdom , Oba Victor Kiladejo, to further express their grievances as they chanted war songs. Addressing the health workers, Oba Kiladejo explained that he felt their pains and discomforts promising that he would discourse the issue. The protest of the health workers left patients that came to various government hospitals unattended to.

T H I S D AY • WEDNESDAY MAY 4, 2016

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Rio 2016: Oguchi, Oyedeji, Thanasis Make D’Tigers’Training Camp Roster NBBF Signs MoU with Benin on regional partnership Olawale Ajimotokan in Abuja The Nigeria Basketball Federation (NBBF) yesterday officially announced that 27 players are to be camped for Nigeria’s quest for the Olympic Games basketball laurel at Rio 2016. The men’s national team training camp preliminary list, read by the President of NBBF, Tijani Umar, was dominated by foreign-based players who spearheaded D’Tigers’ accomplishment of their historic AfroBasket triumph in Tunisia last year. Long serving captain, Olumide Oyedeji is on the star-spangled list that boasts of Tunisia 2015 MVP, Chamberlain Oguchi, the Aminu brothers, Al Farouk and Alade. Others listed by coach William Voigt are Antetokounmpo Thanasis, Ike Diogu, Jamal Olasewere, Michael Daniel Umeh, Benjamin Uzor, Olaseni Lawal, Michael Gbinegie, Andy Ogide, Stanley Okoye and Ezeli Festus. The rest are Ofoegbu Ike, Braimoh Suleiman, Ibekwe Ekene, Derrick Obasohan, Stanley Gumut, Usman Abubakar, Daniel Nwaelele, Josh Akognon, Mfom Udofia, Ere Ebi, Trevor Mbakwe, Ekpe Udoh and Folarin Campbell. Orlando Magic Point Guard,Victor Oladipo was not on the list as he was undecided whether to represent Nigeria or the USA basketball team. “The 28th name isVictor Oladipo,

but he not yet decided and we don’t want to put his name out before he reaches a decision. We are being professional about it—until we get his consent, we won’t put his name out. Oladipo has been in training camp with the US national team and yet to make the team. So sometimes decision can be tough when it comes to that,” Umar stressed. He laid emphasis on the eligibility of Thanasis, who plays in NBA Development League for Winchester Knicks to represent Nigeria, though he bears Greek sounding name. “Thanasis is of Yoruba-Nigerian parents who moved to Greece, while the name Antetokounmpo is actually the same as Adetokunbo. So he is very eligible to be part of our camp”. The team training camp will open in Los Angeles on June 27 while the players that feature in the NBA League will arrive on July 1 after resting from regular season. Umar disclosed that the team will fly to China on July 3 and will play in the Stankovic Cup from July 5-10 against China, France and Olympic Group D rival, Argentina. The Tigers will fly to either LasVegas or Australia on July 11 to play either Argentina or Australia, which has also requested for a friendly match with Nigeria in Melbourne on July 15. Nigeria has also confirmed another friendly with Olympic Games opponents, Brazil in Las Vegas on July 20, while they will

Ifeanyi Ubah Elected Anambra FA Chairman Just two days before the annual general meeting of the Nationwide League One, the League’s patron and club owner, Dr. Ifeanyi Ubah, has emerged the Chairman of the Anambra State Football Association. In elections conducted yesterday, the business mogul polled 24 votes. Jude Obikwelu emerged the newVice Chairman, while the following persons were also elected into the board of the Anambra State Football Association from the zones: Amuzie Cyprian Chibuike, Udennanka Anthony Bebeto (Anambra Central); Amene Joe Ifeanyi, Emeka Raphael Udoka, Uduh Kingsley (Anambra North)

and; Ifepe Edward Adah, Albert Chinye Theodore (Anambra South). Chairman of the Anambra State Election Monitoring Committee, E. C. Chukwuemeka confirmed the results yesterday. Chairman of Chairmen of Nigeria football, Alhaji Ibrahim Musa Gusau also witnessed the elections that took place in Awka, the Anambra State capital, alongside the Chairman of the Enugu State Football Association, Mr. Chidi Ofo Okenwa. NFF President Amaju Pinnick has congratulated Dr. Ifeanyi Ubah on his victory.

play China two days later in Los Angeles. The Tigers will travel to Houston to intensify its training camp on July 23. They will play the USA on August 1 in Houston before they finally depart for Rio the following day. Umar described the current

season as a fruitful one for the Nigerian legion some who ply their trade in the US and Europe. He said the issue of funding of their campaign has been ironed out with Solomon Dalung, the Minister of Sport, who has assured that money would be released for all the teams that qualified for the

Olympics as soon as the budget is approved by government. NBBF also announced it has signed a Memorandum of Understanding (MoU) with Benin Republic, Togo, Niger and Burkina Faso on a regional partnership to develop basketball. The agreement was signed in

Cotonou on April 9 and will result in the exchange of technical officials, coaches and referees. It will also allow players in those countries to participate in prospect camps, clinics and tournaments across the region with ease of movement made possible by the West Africa road network.

D’Tigers’ usual suspects all listed in the camp roster for the Rio 2016 Olympic Games

Siasia: No More Release of Players for Mid-week Matches As preparation for the men’s football tournament of the Rio Olympic Games hots up, Head Coach of the Nigeria U-23, Samson Siasia, has declared that from Monday May 9, he will no longer release any player from camp to play for their clubs during Nigeria Professional Football League mid-week matches. Speaking after yesterday’s training at the practice pitch of the National Stadium, Abuja, Siasia noted that he barely had enough players in camp to start real preparations for the Olympics, which is barely

three months away. “I must confess that it has not been easy for me and my technical crew; a lot of the players we need to work with won’t report to camp as at when due because their club chairmen will always call me to beg that these players stay back to play mid –week games. I understand their plight that they need these players to do well in the League, but then we must draw a line between national interest and club interest. I have always built the foundation of my team on the home based players, so it is players I have at my disposal

that I will work and plan with. “So, I am appealing to all involved to please bear with us, because from next week, I will not release any player for mid –week games. If the clubs cannot release these players, then I am sorry, no matter how good these players are, they cannot be part of my plans.” Siasia said his call for understanding, is coming on the heels of the fact that he is preparing the team for the South Korea Invitational Tournament coming up early June, and he needs to pick players who will do the nation proud and get

them in the mood for the games. “From the information at my disposal, we are supposed to be traveling on May 29, to Seoul. It means we have barely two weeks to prepare adequately for that competition that will have in attendance other teams that would be going to the Olympics,”he noted. Siasia disclosed that he will soon release the names of foreign-based professionals expected to be part of the preparation, saying he has delayed announcing their names because he has not been able to get assurances from their clubs on their release for the Games.

Iheanacho Wants 200,000 Pounds-a-week, Five-year Man City Contract

Ifeanyi Ubah... newly elected Anambra FA Chairman

The agents of Kelechi Iheanacho have demanded a bumper new Manchester City contract that will pay the Nigeria starlet a mind-blowing 200,000 pounds-a-week over five years, AfricanFootball.com can exclusively reveal today. “He has deserved his keep at City as he is now one of the most effective forwards in the whole of Europe when

you put his game time against the number of his goals,” a top source argued. The 19-year-old Nigeria international has netted 13 goals in all competitions this season with seven of them in the Premier League. In October, Manchester City offered Iheanacho 50,000 pounds-a-week. As first reported by

AfricanFootball.com, City have opened talks with Iheanacho’s handlers over a new contract after he justified his promotion to the first team at The Etihad with goals and five-star displays in his debut season in the English Premier League. We have further learnt that Iheanacho is currently earning “between 10,000 and 18,000 pounds a week”

after coming through the City youth ranks. AfricanFootball.com was specially told by an insider that the least paid City first-teamer is on 180,000 pounds-a-week with the biggest earner at the club Yaya Toure pocketing almost twice that sum. Iheanacho is expected to bag a new contract by July.

T H I S D AY •WEDNESDAY MAY 4, 2016

WEDNESDAYSPORTS U E FA C H A M P I O N S L E AG U E

Atletico Through to Final on Away Goal

Atletico Madrid reached its second Champions League final in three years by edging past Bayern Munich on away goals in a pulsating semifinal. Though Bayern defeated Atletico 2-1 yesterday the La Liga team went through on aggregate 2-2 having won the first leg 1-0 at home. Trailing 1-0 from the first leg in Spain, Bayern levelled the tie through Xabi Alonso’s deflected free-kick. Atletico keeper Jan Oblak saved Thomas Muller’s low penalty, before Antoine Griezmann coolly fired in an equaliser. Robert Lewandowski’s header set up a tense finish, but Atletico held on after Fernando Torres missed a penalty. Bayern, backed by a vociferous home crowd, desperately pressed for a third goal that would send them through. However, they could not find a way past Oblak, who blocked David Alaba’s 20yard volley in injury time. Atletico, aiming to be crowned European champions for the first time, will meet Manchester City or Real Madrid in the final on May 28 in Rome. City faces Atletico’s neighbours at the Santiago Bernabeu today after the

teams drew 0-0 in last week’s first leg. Atletico has lost twice in the final of Europe’s leading club competition - to Bayern in the 1974 European Cup and against neighbours Real two years ago. Now Los Rojiblancos have another opportunity to lift the trophy, in Milan later this month. They produced another display of remarkable defiance against the German champions - playing in their fifth successive semi-final - at the Allianz Arena. Bayern had 33 attempts on goal and 72 per cent of possession - but it still was not enough to beat the gritty Spaniards. The hallmark of Atletico’s recent success has been their strength in defence, with Diego Simeone’s side developing a reputation as one of the toughest teams in Europe to break down. However, the quality of their clinical attack should not be overlooked. Atletico had not even managed a single touch in the Bayern penalty area until Griezmann fired in from the edge of the box. The France striker marginally beat the Bayern offside trap, latching on to Fernando Torres’ through ball before coolly drilling underneath Bayern keeper Manuel Neuer.

Amuneke Drops Six More Players from Camp Head Coach of the Nigeria U-20, Coach Emmanuel Amuneke has finally pruned the number of players in camp to 31 after Saturday’s friendly match with Nigeria National League side, Supreme Court FC. The match ended 1-0 in favour of the Flying Eagles but it also afforded the technical crew an opportunity to further assess the ability of the fringe players ahead of the May 22, CAF U-20 Africa Cup of Nations qualifier with Burundi in Bujumbura. Midfielder Kingsley Michael scored from the penalty spot in the 65th minute for the only goal of the match that is the fifth in a series of games played so far by the U-20 boys. On Saturday, Amuneke fielded a completely new team against Supreme Court FC but was left disappointed at half time as the Flying Eagles failed to exhibit what they have learnt in over three weeks of intensive training. The second stanza saw the introduction of ten new players as the U-20 boys began to dominate play, leading to a 65th minute penalty converted by Michael. With twenty minutes left on the clock, the coaches introduced star players

Victor Osimhen and Samuel Chukwueze to further pile pressure on the Abuja based team but their effort did not add to the scoreline as the match ended 1-0 at full time. Amuneke thanked the dropped players for their perseverance and endurance during the screening and advised them to stay fit as their services may still be required in the near future. One more player will be dropped next week to further reduce the number in camp to thirty. The Flying Eagles have so far played five matches, including defeating Sia-One Academy 4-1, Dabo Babes 5-0, Ace FC of Kaduna 6-2 and drawing 0-0 with Dreams FC of Makurdi. Nigeria must beat Burundi over two legs to advance to the final round of the qualifiers in July this year.

Amuneke

Atletico Madrid’s French forward Antoine Griezmann (right) celebrates scoring yesterday

REAL MADRID VS MAN CITY

Ronaldo Fit, Benzema Out, Toure Back for Clash Real Madrid boss Zinedine Zidane claimed yesterday that three-time World Player of the Year Cristiano Ronaldo is 100 percent fit for his side’s Champions League semifinal, second leg showdown with Manchester City today. Ronaldo missed last week’s 0-0 draw in the first leg due to a thigh injury, but took a full part in training on Monday and Tuesday. Also, Manchester City midfielder, Yaya Toure, trained yesterday having missed the past two games with a thigh injury. Ineligible midfielder Samir Nasri, forward David Silva (hamstring) and defender Pablo Zabaleta were absent. No reason was given as to why the Argentina international missed the session. But Madrid’s Ronaldo who sat out his team’s past two La Liga games, completed a full training session on Monday for the first time since being injured on April 20. The former Manchester United forward, 31, has netted 47 goals in all competitions this season and is the leading scorer in the Champions League with 16, one shy of his record from Real’s victorious 2013-14 campaign. However, Zidane confirmed that Madrid will be missing two other key players in striker Karim Benzema and defensive midfielder Casemiro through injury. “Cristiano is fine, he is 100 percent, that is why he trained this week and will be there tomorrow,” Zidane said on Tuesday. “Karim and Casemiro are another thing. In the scan today Karim still has a problem and we don’t want to risk him. “The same with Casemiro. He doesn’t have a serious injury but it is a dilemma and we also don’t want to risk him.

“We have a sufficient squad so that the rest can play.” Zidane also claimed Ronaldo was 100 percent on the eve of the first leg before the Portuguese was finally forced to miss out after feeling the recurrence of the muscle injury he picked up against Villarreal two weeks ago. However, having also sat out Real’s Gareth Bale-inspired 1-0 win at Real Sociedad on Saturday, Zidane is confident Ronaldo will be ready for another famous European night at the Santiago Bernabeu after scoring a hat-trick to overturn a 2-0 first leg deficit against Wolfsburg in the quarterfinals. Indeed, Ronaldo could break his own record for goals in

a Champions League campaign from two years ago of 17 having hit 16 in just 10 appearances this season. “It has been over a week and little-by-little he has been recovering. He is a player like that, he recovers quickly,” added Zidane. “We need Cristiano at 100 percent because he is a different player, as his numbers show. “I would have liked Karim to be fit too, but it is not to be and others will play.” In the absence of Benzema, Ronaldo is expected to play in a central striking role flanked by the in-form Bale and Lucas Vazquez. The balance offered by Casemiro in recent months is a more difficult problem to deal with for Zidane to deal with as Toni Kroos

is expected to play in a deeper midfield role with Isco coming into the side that started the first leg. Zidane has inspired a huge turnaround in Madrid’s fortunes since taking charge in January, winning 18 of his 23 games in charge to lead Madrid to a sixth consecutive semi-final and to within a point of La Liga leaders Barcelona with two games to play. However, he admitted that it would now be considered a failure for Real not to reach their 14th European Cup final. “Until now we haven’t won anything. We are in good form, but our idea is to try to be at our best on Wednesday to get through the tie. “It is very difficult, but it is a clear failure if we don’t get through.”

Cristiano Ronaldo (left) and Gareth Bale at training ahead of tonight’s clash with City

T H I S D AY •WEDNESDAY MAY 4 2016

WEDNESDAYSPORTS 1 8 T H M I LO S C H O O L S B ’ B A L L

Edo, Lagos Emerge Western Conference Champions Henson Demonstration School, Benin City and Wesley Girls Senior Secondary School, Lagos have emerged regional champions in the boys and girls’ categories respectively of the Western Conference of the 18th edition of Nestle Milo Secondary Basketball Championships concluded at the indoor sports hall of National Stadium, Surulere, Lagos yesterday. Henson Demonstration School got the better of hard-fighting Osadenis Mixed Secondary School of Delta State 46-37 in a well contested match that ended 46-37. In the girls’ category, Wesley Girls Senior Secondary School Lagos State, gave the Lagos crowd something to cheer as they defeated last year’s regional champions: Yejide Girls Grammar School Ibadan 34-22 to emerge champions

of the Western Conference The two finalists in the boys and girls’ categories will represent conference in the national finals in Asaba, Delta State. It’s the first time the national finals will be played outside Lagos in the 18 years history of the championship. Speaking before Tuesday’s matches, Branch Manager, Nestle Nig Plc, Mr Deji Adeshoga, said Milo is a brand that is well known in Nigeria as the number one supporter of grassroots sports. “For 20 years, Milo has been at the forefront of basketball development in Nigeria through the Milo Secondary School Basketball Championship; producing many top players in the sport” Meanwhile, the Category Business Manager, Mr. Femi Akintola has reiterated the company’s resolve to continue to contribute its quota to the

development of basketball in the country. According to Akintola, it is the belief of the company that sports

is a veritable platform for youths to learn values such as honesty, teamwork, fair play, respect, adherence to

rules, discipline, perseverance, resilience and a strong sense of purpose. “These are the motivating

factors behind Nestle’s commitment to this championship,” Akintola concluded.

Excitement, Fun at 2016 Lagos Yacht Club Boat Racing Championship It was fun and excitement for boat race lovers in Lagos, as the fourth edition of the Lagos Yacht Club Annual Boat Racing Competition sponsored by the Nigerian Bottling Company held recently at the Lagos Yacht Club, Onikan , Lagos At the end of the competition, which was witnessed by a large crowd of boat race lovers, including school children and foreigners from different parts of the world, prizes were awarded in three categories – Combined Monohull Class, Hobie Class and the Lightning Class. A total of 22 boats took part in the 2016 edition of the completion, but 19 boats were able to complete the race. Speaking at the end of the competition, the National Sales Director, Nigerian Bottling Company Limited, Mr. Dan Fratila, said that Nigerian Bottling Company Regatta Cup was part of his company’s corporate social responsibility initiatives. “Nigerian Bottling Company is a company that encourage people to do sports and we are trying to encourage people to embrace boat racing as a sport and a lifestyle ” Dan

Fratila said. “We have been doing so through football and many other sporting activities. Nigeria has been a very good business ground for us over the years and as we make profit, it is also good we give back to the society. This NBC Coca-Cola Regatta Cup is part of our CRS to the people,” he added. Dan Fratila, a cyclist, tennis player and a marathoner further stated that his company would continue to support the Lagos Yacht Club, which according to him, had been a ‘good client’ for 20 years now. Also speaking during the competition, the Sailing Secretary, Lagos Yacht Club, Mr. David Mcnaught, applauded the effort of all the participants for their zeal and determination, adding that the NBC Coca-Cola Regatta Cup would continue to grow. Some of the participant who won prizes at this year’s competition was, Marc Coakley, Julian Hardy, Morten Foght, Paul Okereke, Mike Barnes, Lanre Mabawonku, Alan Davies and John Shidiak.

Action scene from the just concluded 18th Milo Secondary School Western Conference Championship in Lagos

AFN Holds All-comers Event in Lagos The Athletics Federation of Nigeria (AFN) has concluded arrangements to host an AllComers Championship today at the Yaba College of Technology in Lagos. Head of Media for the AFN, Olukayode Thomas, said in a press statement that the All-Comers event are expected to be keenly

contested as it will be used to select athletes that would participate in the federations’ Golden League meetings which would start off in earnest. “The federation will be having it’s All-Comers event at Yaba Tech on Wednesday, we will be selecting the best athletes from the All-Comers to participate in

the Golden League, while the best athletes from the Golden League will form our team to the African Championships in South Africa next month,”Mr. Thomas stated. Already, athletes across the country; especially those based in Lagos are eager to get on for the season as demonstrated in keen contest witnessed in the recently held

Track and Field Coaches Association of Nigeria (TAFCAN) Meet at the National Stadium in Surulere. Activities at today’s All Comers championships which is the maiden event of the year from the AFN is billed to commence by 8.am and expectations are high for a spectacular show at theYaba Tech Sports complex.

2016 Okpekpe Race Dedicated to Late Benin Oba Organisers of the annual Okpekpe 10-km Road Race slated to hold on May 7 have dedicated the fourth edition of the competition to the memory of the most revered Omo N’Oba N’Edo, Oba Erediauwa, CFR, who was a passionate follower of sports in the country, as epitomised in his hosting of distinguished sports men and women who won laurels for the country. In a terse message released at an international press conference held in Lagos yesterday morning, the

organisers noted that: “The late monarch was not just a great unifier of all Edo people irrespective of clans and religious affiliations; he was also a keen lover of sports as a vehicle to promote peace and unity. “We drew a lot of inspiration from the noble values Omo N’Oba espoused in conceiving the Okpepke Race few years ago not just as a platform to discover, nurture and celebrate talents locally, nationally and internationally, but also bring global spotlights

to Edo’s rich culture and tradition which Oba Erediauwa aptly embodied,” observed the statement. While exalting the most revered Omo N’Oba N’Edo, Oba Erediauwa, the organisers stressed that: “Though deeply saddened, we are however consoled that the sterling legacy bequeathed by the great monarch already secured for him a front-roll seat in the pantheons of sages of all time. We are further comforted that we have a

worthy successor in the Crown Prince, Ambassador Eheneden Erediauwa. “It is with mixed feelings that the organisers of the Annual Okpekpe International Marathon received the news of the passing on to glory of our most revered Omo N’Oba N’Edo, Oba Erediauwa, CFR. “As our own modest way of celebrating this icon, the board met and resolved that this year’s edition of the Okpekpe race be dedicated to the great king as he joins his ancestors.

34 Athletes for Annual CCSF Taekwondo Workshop in Abuja

L-R A member of the team that won the Lightening Category, Lanre Mabawonku; National Sales Director, Nigerian Bottling Company Ltd, Dan Fratila; Another member of the winning team, Mike Barnes; and Sailing Secretary, La.jpeg

Thirty-four athletes drawn from the six geo-political zone including the Federal Capital Territory (FCT), Abuja will be part of this year’s Chika Chukwumerije Sports Foundation (CCSF) Training workshop holding between May 11 and 15. The workshop series which began in 2010 and has since become a watering ground for upcoming future taekwondo champions, with the programme specifically

designed to complement the fantastic work being done by coaches all across the country in raising young athletes, by increasing the technical and tactical knowledge of participants. According to the Founder/ Chief Executive Officer of CCSF, Chika Chukwumerije,“the singular philosophy upon which the CCSF Training Workshop is based is that Nigeria’s young upcoming athletes, despite their seeming clumsiness and

gawkiness, possess incredibly explosive sporting and intellectual abilities that only needs to be properly ignited at this tender age in order for these abilities to explode to blinding limelight in a couple of years. “To this end, participants are rightly treated like the champions they are, and exposed to the latest equipment/techniques/ tactics that they need to excel in the sport.” The three-time Olympian

added:“It has become easier to highlight the undeniable progress of the program’s vision with recent successes of past participants like 18-year- old Adamu Abubakar Isah and 17-year- old Shola Olowookere (presently Commonwealth gold medalists). Some of the other ex-participants have won the National Youth Games and battle head-to- head with older and more experienced athletes at the various National competitions available in Nigeria.

T H I S D AY •WEDNESDAY MAY 4, 2016

WEDNESDAYSPORTS

Facts & Figures behind Leicester City’s EPL Victory From 5,000-1 outsiders to champions with two matches to spare - the Leicester City story is surely the most remarkable in Premier League history. Here, BBC Sports take a look at how they defied the odds in a transformation that took them from relegation favourites to title winners. WHAT A DIFFERENCE A YEAR MAKES A 4-3 defeat at Tottenham on March 21, 2015 was Leicester’s seventh Premier League game without a victory and left them seven points from safety with nine games remaining. A late Andy King winner in a 2-1 victory over West Ham kickstarted their revival - and they have not looked back since. 2014-15: DLDWWLDLLLLDLLLLLLWDWLLLLDLDLWWWWLWWDW / 2015-16: WWDDWDLWDWWWWDWWWLDDWDWWWLWDWWWWWDWD HOW DID THEY DO IT? At the start of this season the Foxes picked up where they left off in May, a 4-2 opening-day win over Sunderland taking them to the top of the table. They stayed there for two weeks before consecutive draws against Tottenham and Bournemouth saw them slip to third. That was supposed to be the start of their slide down the table, but it never happened. In fact, Leicester did not drop below sixth place all season and, after moving to the top again on January 11, courtesy of a 1-0 win at title rivals Tottenham, they would not relinquish that position for the rest of the season. Their form would enable them to clinch the title with two games to spare. But even if they win their remaining matches, they will have won the title with fewer points than any of the previous five winners. 2011-12 Man City, 89 points. 2012-13 Man Utd, 89 points. 2013-14 Man City, 86 points. 2014-15 Chelsea, 87 points. 2015-16 Leicester 77 points. Their success, of course, has owed much to striker Jamie Vardy and PFA Player of the Year Riyad Mahrez, who proved themselves a deadly combination, particularly when it comes to scoring goals. GOALS SCORED Jamie Vardy: 22. Riyad Mahrez: 17. Leonardo Ulloa: 6. TOP ASSISTS Riyad Mahrez: 11. Danny Drinkwater: 7. Jamie Vardy: 6. Marc Albrighton: 6. TOP APPEARANCES Marc Albrighton: 36. Wes Morgan: 36. Kasper Schmeichel: 36. Ngolo Kante: 35. Riyad Mahrez: 35. Jamie Vardy: 34. It also helped that manager Claudio Ranieri - previously nicknamed “the Tinkerman” for his methods during his time at Chelsea - regularly named the same starting XI. In fact, Leicester used fewer players than any other team. Manchester United: 33. Liverpool: 33. Newcastle United: 30. Everton: 30. Crystal Palace: 29. Aston Villa: 28. Bournemouth: 28. Norwich City: 28. Sunderland: 28. West Ham United: 28. Stoke City: 27. Chelsea: 26. Southampton: 26. Swansea City: 26. West Bromwich Albion: 26. Arsenal: 25. Manchester City: 25. Watford: 25. Tottenham Hotspur: 24. Leicester City: 23. CAN MONEY BUY SUCCESS? NOT ANY MORE It is 21 years since any team other than Arsenal, Chelsea, Manchester City or Manchester United won the top-flight title. And in an era of ever-increasing television revenue, where the latest deal is worth £5.136bn, it was considered unthinkable that any team could break the dominance of

Leicester City’s Wes Morgan (left) celebrating his Premier League goal against Southampton last week the traditional elite clubs. Yet Leicester had defied financial logic. COST OF SQUAD Man City £415m. Man Utd £395m. Chelsea £280m. Liverpool £260m. Arsenal £231m. Tottenham £159m. Newcastle £145m. Southampton £139m. Everton £112m. Sunderland £112m. West Ham £106m. Aston Villa £93m. Stoke £73m. Crystal Palace £72m. Leicester £63m. West Brom £62m. Swansea £56m. Watford £53m. Norwich £55m. Bournemouth £43m. -Source: CIES Football Observatory and BBC Sport GIVE THEM A PAY RISE! The most recent published figures for Premier League wages come from the 2015 Annual Review of Football Finance, published by Deloitte’s Sports Business Group. They relate to the 2013-14 season, when Leicester (as well as Watford and Bournemouth) were Championship clubs, but the figures below give a sense of the huge disparity in budgets between Leicester and the Premier League’s biggest payers. Man Utd £220m. Man City £205m. Chelsea £191m. Arsenal £166m. Liverpool £144m. Tottenham £105m. Newcastle £78m. Sunderland £70m. Aston Villa £69m. Everton £69m. West Brom £65m. West Ham £64m. Swansea £63m. Southampton £63m. Stoke £61m. Norwich £54m. Palace £46m. Leicester £36m. Bournemouth £17m. Watford £12m. Leicester’s wage bill has since risen from £36m to £57m, but that it is still only around a quarter of Manchester United’s from two seasons ago. JOINING EUROPE’S ELITE If logic dictates that Leicester should have had little chance competing with the Premier League’s biggest clubs, what hope do they have when they face the best Europe

Leicester City fans celebrate after Chelsea equalised against Tottenham, handing their club the Premier League

has to offer in next season’s Champions League? The Foxes’ statistics are a world away from those of two teams who have already clinched two of Europe’s major titles, Juventus and Paris St-Germain, and another on the brink of securing theirs, Bayern Munich. Leicester - Goals: 64, Passes: 12586, Points: 77, Champions: 1 time, Cost of squad: £82m, Record signing: Andrej Kramric: £9m; Bayern - Goals: 75, Passes: 23671, Points: 82, Champions: 25 times, Cost of squad: £337m, Record signing: Javi Martinez: £32m; PSG - Goals: 93, Passes: 25049, Points: 89, Champions: 6 times, Cost of squad: £525m, Record signing: Edinson Cavani £55m; Juventus - Goals: 69, Passes: 18627, Points: 88, Champions: 32 times, Cost of squad: £301m, Record signing: Gianluigi Buffon: £32.6m MOST RECENT FIRST-TIME LEAGUE WINNERS In winning the Premier League, Leicester became the first first-time winners of England’s top-flight title since Nottingham Forest achieved the feat under Brian Clough in 1978. Europe’s other major leagues have all had more recent first-time winners, though it is 25 years since a previously title-less team enjoyed success in Italy. France - Montpellier, 2012. Germany - Wolfsburg, 2001. Italy - Sampdoria, 1991. Scotland - Dundee United, 1983. Spain - Deportivo La Coruna, 2000. -Culled from BBC Sports

… Revives Interest in Ahmed Musa Leicester City has revived interest in Super Eagles attacker Ahmed Musa, according to UK’s Daily Mail. The newly-crowned Premier League champions were keen on signing Musa back in the January transfer window, but felt that CSKA Moscow’s asking price of £20million was too high. With the league championship safely secured – and the prospect of Champions League football looming large – Leicester are already looking at targets to boost their squad. Manager Claudio Ranieri is said to rate Musa highly, with the Nigerian’s versatility and goal-scoring prowess two attributes that

make him sought after. The Foxes have sent scouts to watch Musa playing for CSKA in recent times and to keep up with his performances in the Russian Premier League. Musa, 23, has scored 11 goals in 26 appearances for CSKA, who have a two-point lead at the top of the log with four rounds of fixtures remaining.

Musa

Wednesday May 4, 2016

UT H

& RE A S O

Price: N250

MISSILE

NLC to Okupe “Okupe is bandying political statistics and this is neither good for his health nor the health of those with whom he seeks to ingratiate himself. We, at the Nigeria Labour Congress, believe in the equitable distribution of the nation’s resources. We will not subscribe to a situation whereby 10 per cent corners 90 per cent of the resources of the state.” – The Nigeria Labour Congress (NLC) criticising former Senior Special Adviser to ex-President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, for advising governors who had difficulties in paying workers’ salaries to retrench civil servants in their states.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Whatever Happened to Planning?

inister of Water Resources Suleiman Adamu has been reported as saying that 54 million Nigerians lack access to potable water. Fifty four million human beings without clean water to drink! About 54 million is the combined population of six other West African countries namely Ghana, Republic of Benin, Togo, Liberia, Sierra-Leone and The Gambia. How to ensure water supply to such a huge number of people is a central question of development to ponder. And to imagine how policy makers have been comfortable with this grotesque statistic for many years. The various ministries of economic planning at the federal and state levels should be familiar with this and other statistics of poverty. The lack of access to clean water is a problem in the 36 states and Abuja. It is also instructive to ponder the explanation the minister offered for this national shame: There are many problems why we don’t have tap water… we are not planning our water scheme in tandem with the population growth in the country… For instance, when I was living here in Abuja in the 1990s the water scheme was for 500,000 people and at that time, were already 1.5 million people. The minister has said it all, you would probably say. Access of all to potable water should be at the heart of any humane and just socioeconomic planning. After all, it is a biological fact that water is life, as they say. At least 75% of the protoplasm, the basic unit of life, is made of water. Global advocates for access to water such as former Soviet leader, Mikhail Gorbachev, are even pushing for giving effect to the United Nations’ recognition that water is indeed a human right. It doesn’t take a futurologist to know that unlike the last century when oil was at root of some wars, many of the wars of the future might be on freshwater supply. That is why access to water is a development question to be answered by countries that take socio-economic planning seriously. The grim situation painted by Adamu in the foregoing is only possible in a country where what passes for economic management is nothing more than impulsive awards of contracts to execute random projects. A former state governor once described it as “government by projects.” This governance culture can be demonstrated with poor supply of potable water. There is hardly any local government without borehole projects. Local government chairmen construct boreholes just as governors and legislators do. However, these are mere tokenist responses to critical issues of development. That is why there are officially 54 million people without clean water despite thousands of boreholes dug in this country in the last three decades. How could serious economic managers be thinking of boreholes for water supply in a population of 170 million? In all tiers of government, the concept of development is fatally distorted when tokens are offered in response to the needs of the mass of the people. In the language of genuine development, you would be talking of running taps in homes and factories. People would not be carrying buckets to boreholes half a kilometer away to fetch water. Embarking on massive water schemes is the way of development. Before this borehole era of governance,

Buhari there used to be National Development Plans. In post-colonial Nigeria, there have been four of such plans, the last being the ill-fated 1981-85 National Development Plan. Even the colonialists had their own sort of plans. In such plans, socio-economic managers in those days would project 10 or 20 years ahead the litres of water that would be needed by the estimated population of people. This would invariably inform the magnitude of the water schemes to be established. Certainly, not by digging boreholes! What is said about water supply could also be said about school enrolment, social housing schemes and access to primary healthcare by infants and pregnant women. For clarity, the problem should be ideologically located. Although there are ministries at the federal and state levels that go by the name of economic planning, serious planning has long been abandoned in Nigeria. There is hardly any evidence of planning in the development landscape. In the days of the cold war, planning was seen as a socialist category. In fact, the other name for a socialist economy was planned economy. In the post-cold war era the neo-liberals who now drive economic management treat scientific planning with contempt and prejudice in their ideological hubris. In some policy-making circles, planning remains a dirty word. Yet it is by planning for human development that the qualitative impact of the statistics being brandished by our experts could be felt. What is the meaning of the status of Nigeria as the largest economy in Africa to the 54 million without potable water? What is the significance of increasing growth rates to these people? And of what benefits is the “medium-term plans” approved by the World Bank and the International Monetary Fund (IMF) to this category of people? It is not acceptable in a country where governments treat their people as human beings that in 2016 54 million lack access to water. The Flint water crisis in Michigan City in the U.S. is regarded as “unthinkable.” The water supply to the city is contaminated with lead. President Barrack Obama has had cause to visit the scene of the disaster to demonstrate the seriousness of the American nation about the crisis. A British newspaper described it as “America’s third world problem.” Governments at all levels in America are expected to plan ahead to ensure that the supply of clean water is steady for consumers. The point being missed by our neo-liberals is that in developed capitalist societies planning

is taking seriously to meet the welfare need of their people. Their various think tanks come up with projections of what the society of the future would need to make the lives of their people comfortable. That is why their legislators make laws to back up policies that could deliver speed trains for mass transit. Here, our senators buy motorcycles as “empowerment” projects of mass transit for their people. A little bit of economic history may be helpful. The turning point for the worse in planning has been located to be in the mid-1970s. There are, of course, different perspectives on why and how things went wrong. One of the perspectives is that shared by those who were in the saddle in the immediate post-independence era. On the occasion of the 52nd anniversary of the nation’s independence, one of those who saw it all made a useful observation. He is Chief Phillip Asiodu, a former federal permanent secretary. He put the matter like this: The (Murtala-Obasanjo regime) abandoned the critical 1975-80 plan, which was to lay the basis of genuine industrialization, economic diversification, adding great value to agriculture and agro-allied industry, oil and gas etc. It abandoned that plan, but worst still, abandoned the discipline imposed by the plan. And the discipline was tampered with. The whole civil service brought up in the strict compliance of official instructions, conformity to pre-identified priorities, that money was spent on one thing and not on something else, cost-effective public procurement, with discipline visited on any erring officials -- that was set

aside; and that was the beginning of relative degradation. That was when we parted from counties like Singapore, Malaysia, Indonesia, with which we were at par, and today, we are importing things from these countries. The last National Development Plan was to last till 1985. By 1986, the Structural Adjustment Programme (SAP) was imposed with its enormous social costs. Subsequently, Nigeria has remained a huge laboratory for all sorts of neo-liberal economic experiments. Indeed, some of these experiments have been wild and inhuman policies. The nation has virtually been turned into what the French economist and author of the celebrated book, Capital in the Twenty-First Century, Thomas Piketty, calls a “republic of experts.” These experiments carried out by generations of these experts and technocrats have never been about planning to eradiate poverty. Hence gross inequality and social injustice are the consequences now threatening the social fabric of the society. Our experts and technocrats cannot be celebrating Fitch ratings and endorsements of IMF and World Bank of their policies when 54 million people have no clean water to drink. The problem would be worsened by desertification. The search for water, just like the search for grazing land, may be the trigger of another major socio-economic and political crisis. The way out is planning for people’s welfare. That is why President Muhammadu Buhari should embark on a paradigm shift in governance by returning to the culture of development planning.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com