Thursday 18th May 2016 by THISDAY Newspapers Ltd

UBA Appoints Five New Executive Directors to Group Board Obinna Chima United Bank for Africa (UBA) Plc, a leading panAfrican banking group with operations in 19 countries on the continent and presence in London, Paris and New

York, has announced the appointments of Ayo Liadi, Oliver Alawuba, Ibrahim Puri, Uche Ike and Chuks Nweke as executive directors of the UBA Group. A statement by the banking group yesterday said their

appointments were subject to the approval of the Central Bank of Nigeria (CBN). “All the appointees bring considerable experience to the board and as a sign of the depth of internal talent and the group’s commitment

to fostering promotion of its own human capital, all have been promoted from within the bank,” UBA said in the statement. Liadi has over 20 years banking experience, having worked in Tier 1 banks in

Nigeria and West Africa, before joining UBA in January 2014 as the Director for Lagos and West Bank, overseeing over 200 branches of UBA. A chartered accountant and graduate of Business

Management from the University of Nigeria, Nsukka, Liadi received the Dean’s award for Outstanding Academic Performance. Continued on page 8

CCT Chairman, Umar, Reveals He was Under Pressure to Convict Tinubu… Page 8 Wednesday 18 May, 2016 Vol 21. No 7692. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

Court Order, Divisions Among Labour Unions, Cause Uncertainty over Strike NLC insists on going ahead, TUC, electricity, oil workers back out No work, no pay, FG warns workers, as panel is set up on minimum wage Osinbajo: Buhari resisted fuel price increase but had no choice NNPC orders its stations in cities to sell petrol at N143/lt FG pays N48.2bn subsidy arrears to marketers FUEL PRICE HIKE Tobi Soniyi, Ndubuisi Francis, Omololu Ogunmade, Damilola Oyedele, Chineme Okafor, Paul ObiandWale Ajimotokan inAbuja Despite the resolve by the Nigeria Labour Congress (NLC) to go ahead with the nationwide strike over the removal of subsidy on petrol and the hike in the price of the commodity,

there was uncertainty last night if the attempt by the union to shut down the country today would go ahead, owing to a division within the NLC and the decision by the NLC faction and the Trade Union Congress (TUC) to back out of the planned strike. Continued on page 8

Again, Militants Blow up Agip Gas Pipeline in Bayelsa Emmanuel Addeh in Yenagoa There were indications yesterday evening that armed militants operating in the Niger Delta may have again blown up a gas pipeline

operated by Nigerian Agip Oil Company (NAOC) at Ogbembiri in Southern Ijaw Local Government Area of Bayelsa State. Continued on page 8

PDP Troubles Not Over Yet as Threat of Parallel Convention Looms… Page 10

L-R: Deputy President, Nigeria Labour Congress (NLC), Mr. Peter Adeyemi; President, NLC, Mr. Ayuba Wabba; Deputy President, NLC, Alhaji Kiri Mohammed; and General Secretary, NLC, Mr. Peter Ozo-Eson, arriving the office of the Secretary to the Government of the Federation (SGF) for a meeting with the federal government’s team on the looming strike over the fuel price hike… yesterday godwin omoigui

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

WEDNESDAY mAY 18, 2016 • T H I S D AY

PAGE EIGHT

CCT Chairman, Umar, Reveals He was Under Pressure to Convict Tinubu Tobi Soniyi in Abuja In an effort to absolve himself of allegations of bias in the trial of Senate President Bukola Saraki, the Chairman of the Code of Conduct Tribunal (CCT), Mr. Danladi Umar, yesterday revealed that he came under external pressure during the trial of former Lagos State governor, Senator Bola Tinubu. Umar, who spoke at the resumed trial of Saraki who is charged with false declaration of assets when he was the governor of Kwara State between 2003 and 2011, however, did not state from what quarters the pressure was brought to bear on him during Tinubu’s trial. In 2012, Tinubu was charged with false declaration of assets and operation of foreign accounts by the federal government. He was however discharged and acquitted in a judgment the CCT chairman

later said was given in error. Umar said that he would resist similar pressure if it was brought to bear on him in respect of those being tried at the moment, and described as false the allegation that he was being influenced to convict Saraki. “During Bola Tinubu’s case, we were under influence but we did the right thing. “I swear by the Almighty Allah to do justice. On our part, the insinuation that we are being influenced to see the conviction of the accused (Saraki) is false,” Umar stated. Umar said that he would do justice without any recourse to external influence that might arise in the course of Saraki’s trial. He also expressed dissatisfaction with the number of counsel crossexamining the prosecution witness on behalf of the Senate president. According to him, the records

of the tribunal showed that there were about 100 counsel standing for the defendant. He insisted that to ensure orderliness, all the counsel might not be allowed to cross-examine witnesses, adding that all the other lawyers could assist the leader of the defence team, Chief Kanu Agabi (SAN), rather than every other person in the defence team doing the job. According to him, there have been too many counsel cross-examining the witness. This, he said, makes the process untidy. “So, henceforth, only the lead counsel, Agabi, can do the crossexamination. For purpose of the records of the court, it will be tidy for only the lead counsel to do the cross-examination,” he said. In his response, Agabi reminded the tribunal that all the persons in the case would account to God and they

should all be worried by that fact. But Umar maintained that there was nothing that he had done to distort the records of the court. Still speaking, Agabi said: “Are you surprised that those who come before you are afraid? People come here and they are ruled by fear of prejudice. Prejudice ought not to have a place in this court but we are afraid.” Agreeing with the defence team, another member of the tribunal, Atedze William, stated that the issue had been settled and that an accused person was entitled to as many lawyers as he wanted. He, however, explained that the chairman’s remark was made to ensure that there was order in court, adding that a friend of his wife rang her to state that there was an article against her husband. “The article was entirely about me. But the writer was shooting

at the wrong person. Those who know my background know that I am not somebody that keeps quiet when things are going wrong. There are a lot of misgivings as to the proceedings here. "If you ask any staff here, you will be told the same thing. Coming back to the proceedings, our concern is in the national interest. When someone says one member is not contributing enough, does he want us to be fighting here? “We have our differences and they are settled in the chambers. We will not destroy the tribunal. This is about Nigeria,” William said. At this juncture, the prosecutor, Mr. Rotimi Jacobs (SAN), said he had made the point that all Saraki’s counsel should speak through the lead counsel. But William interjected, describing Jacobs’ position as “insincerity of the bar”.

“This is insincerity of the bar. There is no law that stops the counsel from cross-examining a witness,” he said. But Jacobs countered that every court has a duty to regulate its own court. “Their fear of prejudice is unfounded because no court has turned down any of your rulings,” Jacobs stated. However, Agabi stated that he had not accused the court of prejudice. Later the cross-examination of the first prosecution witness, Mr. Michael Wetkas, resumed. The witness admitted before the tribunal that Saraki had no link with the ownership of an Ikoyi property. Under further cross-examination by Saraki’s counsel, Mr. Paul Usoro (SAN), the witness also told the tribunal that investigation did not link Saraki with the ownership of Victory Oil as alleged.

workers to respect the laws of the land and to desist from participating in an illegal strike action. “Government undertakes to guarantee the safety of workers and their work places, and expects that normal work will continue in the interest of the nation. Accordingly, security agencies have been directed to ensure unimpeded access to offices, work places and markets. “Acts of intimidation, harassment, including barricading of gates, locking up of offices, blocking of roads and preventing workers from carrying out their lawful duties will be met with appropriate response by the law enforcement agencies. “All workers, whether in public or private sector are further reminded of the Trade Dispute Act, 2004, which provides that ‘where any worker takes part in a strike, he shall not be entitled to any wages or remuneration for the period of the strike and any such period shall not count for the purpose of reckoning with the period of continuous employment and all rights dependent on continuity of

employment shall be prejudicially affected accordingly’. “Accordingly, all ministers, permanent secretaries and heads of government agencies are hereby directed to invoke the provision of ‘no work no pay’ in respect of any staff who absents him or herself from work to join the strike action. “Attendance registers are required to be opened in all ministries, departments and agencies,” the SGF said in the statement.

COURT ORDER, DIVISIONS AMONG LABOUR UNIONS, CAUSE UNCERTAINTY OVER STRIKE The division was quite glaring yesterday when a faction of the NLC led by a former Deputy President of the NLC and General Secretary of the National Union of Electricity Employees (NUEE), Mr. Joe Ajaero, first met with the federal government team led by the Secretary to the Government of the Federation (SGF), Mr. Babachir Lawal. The faction subsequently said it would not embark on the planned strike and announced instead that a committee would be set up with the government to review the current price of petrol, address demands for a review of the national minimum wage, and the palliatives to cushion the effects of the economic hardship in the country. However, at another meeting held last night between government and the NLC led by Ayuba Wabba, both sides failed to reach a last minute compromise. Following the disagreement, the leaders of the NLC walked out of the meeting with the government, saying they would mobilise their members nationwide for an indefinite strike starting from today to protest the

fuel price hike. He said: “As of today, this is our position as NLC: we have to discontinue with the meeting, so this is a walkout and dead end, because the demand cannot be made within the mandate.” He also said that the NLC had not received any court process stopping the strike, adding: “We have not been served, we are not aware, we have not been put on notice.” However, the TUC, which had threatened to mobilise its members to go on strike, said it would no longer do so and would tell its members to report to work today. TUC President Bobboi Kaigama said: “The issue of minimum wage should be on the front burner, while the template for the petrol price should be monitored. “Ladies and gentlemen, Nigerian workers across the 36 states of federation. Consequently upon this agreement, we hereby suspend the planned industrial action that was supposed to take place effective midnight today. We urge our members to report to work today and go about their normal duties.”

Also briefing the press after the meeting, the SGF confirmed that the TUC had decided not to proceed with the strike. He said, however, that in the case of the NLC, which is factionalised, one faction agreed to shelve the strike, while the other insisted on going ahead. “Aside from the NLC, a number of individual affiliate unions had long indicated that they would not participate in the planned strike. So government is fully assured that tomorrow (today), there would be no strike,” he explained. Lawal also said that the government and unions that decided to shelve the strike had frank and honest discussions, during which they reached an agreement on the broad issues of the price of petrol, the minimum wage and the palliatives to cushion the effects of the economic slowdown. “So we agreed to set up a 15-man technical committee to work out a framework on the minimum wage. This technical committee will report to the committee of the whole within six months. “Government also agreed to set up a committee to study the components

and make recommendations on the composition of the board of PPPRA within a period of two weeks,” he said.

‘No Work, No Pay’ The SGF, in a statement last night, also said he had directed all ministers, permanent secretaries and heads of government agencies to invoke the provision of “no work no pay” in respect of workers who participate in the planned strike by a faction of the NLC. Advising workers to shun the exercise in their own interest, Lawal also called on security agencies to beef up security and ensure that protesters do not prevent workers from gaining access to their offices. “The attention of all public officers is drawn to the notice issued by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to embark on an indefinite strike from Wednesday, 18th May, 2016,” he said in a statement. “This notice is regrettably given in spite of an order by the industrial court against the strike action. Government therefore calls upon and advises all

UBA APPOINTS FIVE NEW EXECUTIVE DIRECTORS TO GROUP BOARD

Chuks Nweke

Alawuba, currently the CEO Africa, Anglophone, joined the UBA Group in 1997. He is a member of the Association of Bank Directors in Nigeria and also a Catholic knight, Alawuba had previously supervised the bank’s Public Sector and Personal Banking businesses. He has over 25 years of banking experience. Puri, currently the Directorate Head of the North Bank, is a graduate of Banking and Finance. He joined the UBA Group in 2006 and has contributed immensely to the growth of the bank in both the private and public sectors. Puri has over 25 years of banking experience. Ike, the Group Chief Risk Officer, is a chartered accountant, with an MBA from the University of Benin. He has been with the group since 2006 and has served in a number of prominent roles, first as Group Head of Operations in South and South East Banks and then for a period of five years, as General

Ibrahim Puri

Manager at the bank’s New York branch. Ike has over 27 years of banking experience. Nweke, currently the Head of Operations and Information Technology, is an accounting graduate of the University of Nigeria, Nsukka (best graduating student) and holds an MBA from the same university. Nweke is also a qualified chartered accountant. He has over 25 years banking experience. While congratulating the newly appointed executive directors, the Group Chairman, Tony Elumelu, said: “These appointments will greatly assist in the plans we have to transform the UBA Group into a truly customer-led bank and the foremost financial institution in Africa. “These are exciting times for UBA,” he continued. “And with this leadership, I have no doubt that the bank will continue on its strong growth trajectory.”

Oliver Alawuba The newly appointed executive directors join Kennedy Uzoka, who was appointed as the incoming Group CEO in March 2016. Uzoka will assume his role on the 1st of August, on the retirement of Phillips Oduoza. Uzoka said: “I am extremely optimistic about the future of the bank. These appointments show the strength of the talent available within UBA and demonstrate our commitment to institutionalisation. We could not have put together a better executive leadership team.” Elumelu also commended outgoing directors, saying: “I take this opportunity to inform you that two of our executive directors, Femi Olaloku and Obi Ibekwe, will be retiring from the board effective June 30 and May 31, 2016, respectively. “I would like to thank them for the enormous contributions they have made during their time of service.”

Uche Ike In April this year, UBA held an intensive three-day strategy session which brought together the group board, subsidiary CEOs and board chairs to set a path for the panAfrican bank’s future. At the group's strategy session, the bank resolved to deepen its commitment to its pan-African strategy and accelerate its expansion across the continent. The appointment of five executive directors yesterday was a visible manifestation of the group’s strategic intent, UBA added in its statement. UBA reported strong financial results for the financial year ending 2015, in what was recognised as a challenging macro-environment. It declared gross earnings of N315 billion while operating profits approximated to N70 billion. Its first quarter profits in the current financial year of N18 billion illustrate the resilience of the bank’s business model.

Earlier yesterday, the National Industrial Court (NIC) had issued a restraining order stopping the unions from embarking on the strike. Justice Babatunde Adejumo of the NIC granted the restraining order after the Attorney General of the Federation (AGF) and Minister of Justice Abubakar Malami sought an ex parte application stopping the strike. In his ruling, Justice Adejumo Continued on page 9

AGAIN, MILITANTS BLOW UP AGIP GAS PIPELINE IN BAYELSA The latest attack makes it the umpteenth time oil and gas facilities belonging to the Italian oil giant would be breached in the state this year alone.

Ayo Liadi

Court Stops Strike

The fresh attack by gunmen, it was learnt, occurred on the pipeline about 48 hours ago, raising questions within the community over why security agencies saddled with the responsibility of protecting oil installations are unable to stop the frequent breaches. Suspected ex-militants also recently attacked a pipeline carrying crude oil located at Brass Local Government Area of Bayelsa State, resulting in an oil spill in the environment. During the latest attack, the gunmen reportedly stormed the community at about 9 pm on Sunday, traced the pipeline and ruptured it at the same point where it had been repaired after the last attack. While some sources said dynamites were used to blow up the pipeline, others said the gunmen deployed other mechanical devices to rupture the line along the axis. The pipeline said to be a major gas pipeline in the country, reportedly crosses Tumor community in Bomadi, Delta State, Ogbuasiri in Ekeremor Local Government Area and Ogbembiri in Southern Ijaw, both in Bayelsa State. “Agip awarded the contract for security surveillance and repairs of the pipeline in the event of a breach to a contractor from the community.

“So the contractor enjoys the dual contract of protecting the pipeline and also repairing it whenever there is a leakage. But it is baffling how the pipeline increasingly comes under attack,” a source said. He added that it “is a major pipeline because it supplies gas for domestic consumption”, noting that Agip had spent a lot of money fixing it. While the pipeline is said to be relatively safe in other communities, it is continuously breached in the Southern Ijaw community, the source revealed.

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 17/05/16 See details on Page 52

% 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 18, 2016

PAGE NINE

Analyst: Nigeria is a ‘Huge Risk’ to Oil Market With Nigeria's oil production reportedly hitting a more than 20-year low, one oil analyst tells CNBC why the country's oil dilemma should be at the top of investors' minds. “I think Nigeria really should be at the top of the agenda, because this is not necessarily about low oil prices,” Amrita Sen, chief oil analyst at Energy Aspects, told CNBC Monday. “It is about the geopolitical backdrop, the Niger Delta Avengers and how the government is dealing with them and clearly this is a huge risk to the market,” she added. A string of attacks against Nigeria’s oil infrastructure has put severe pressure on the country’s overall output, with companies recently having to evacuate or close their facilities. The group

VIEWS FROM ABROAD which claimed responsibility for these attacks is militant group, the Niger Delta Avengers, whose main goal is to “cripple” Nigeria's economy, according to its website. “Energy Aspects’ latest count of Nigeria is that production is at a million barrels per day. Usually they produce 2.2 (million), so that’s a record low and the worst is now there are threats from the unions,” Sen added. Similar comments have been echoed by other oil analysts, with Barclays' Miswin Mahesh telling CNBC Tuesday last week, that Nigeria was the factor that was “really spooking markets”. He noted that it would take longer to resolve, than the outages seen recently in Canada.

On Monday, the Nigerian Army said it had made arrests of some individuals from a militant group, with the belief that some were suspected members of the Niger Delta Avengers, Reuters reported. According to the news agency, the recent supply disruptions around the globe —such as those seen in Nigeria and Canada— amount to as much as 3.75 million barrels per day, having helped offset concerns surrounding the supply glut. On top of that, Sen added that US dollar moves could cause some volatility in oil; but added that the more these outages lasted, the more likely investors would see “a complete decoupling between the dollar and oil”.

With both Brent and U.S. crude posting gains of more than 2.5 per cent on the month, Sen believed the current relief rally seen in prices would hold. Crude prices jumped in early Monday trade, after a bullish call from Goldman Sachs, which said the market had moved from a state of oversupply to a deficit. Energy Aspects, however, believes signs of a rebalancing process started back around February, when supply started falling, and will continue to hold despite potential spells of volatility. “You’re going to get some volatility along the way, there is a lot of net length in the market, you can always get these weekslong exits, but the secular trend is definitely higher.” • Reuters contributed to this report

Kachikwu

COURT ORDER, DIVISIONS AMONG LABOUR UNIONS, CAUSE UNCERTAINTY OVER STRIKE held that “the defendants are hereby restrained from carrying out the threat contained in their communique issued on May 14th pending the hearing and determination of the motion on notice filed on May 16”. He ordered that the status quo be maintained and that the processes in the case be served on the respondents within 24 hours, and the proof of service be filed in the court. “It is the order of this court that none of the parties shall engage in any act, conduct, overtly, covertly on this matter pending the hearing and determination of the motion on notice,” Justice Adejumo further held. The judge transferred the case to another judge of the court, saying that he would be engaged at the National Judicial Council and would not be able to take further proceedings on the matter. He stated that his preference was for the dispute to be resolved amicably, but that he was constrained to issue the order ex parte because the respondents were not before him. He also said he granted the order to make sure that Nigerians were not subjected to avoidable hardship. “I decided to take this case this morning because it is on an issue that will affect everybody. I don’t want people to be subjected to hardship. There will be scarcity of food, people may die, students will engage in all sorts of activities. This is why I have to grant this order,” he decreed. His order will lapse in seven days except it is renewed. The plaintiffs in the case are the federal government and the AGF, while the defendants are the NLC and the TUC. In the ex parte application, the government asked for an order of interlocutory injunction restraining the respondents from embarking on the industrial action pending the determination of the originating summons. It also asked for an order of interlocutory injunction retraining the respondents from demonstration or engaging in any act that may disrupt the economic activities of the nation pending the determination of the originating summons.

NLC Faction Shelves Strike The court order came just as a faction of the NLC led by Ajaero, and the NUPENG President, Igwe Achese, had a separate meeting with the federal government team, following which both sides reached an agreement to review the pump price of petrol, address the demands for a review of the national

minimum wage, and hold discussions on the palliatives expected to cushion the effects of the economic hardship in the country. The NLC became factionalised in March last year at the 11th Delegates’ Conference of the union, when Ajaero rejected the results of the election, which produced Wabba as the current NLC president. However, Ajaero insisted that he had won the election, subsequently broke away from the union, and declared himself president of the faction that was to emerge, while Achese became his deputy. According to observers who spoke to THISDAY last night, they did not consider it surprising that the Ajaero-led faction had come back to haunt the Wabba-led NLC, effectively rendering the attempt at a nationwide strike ineffectual. Emerging from the meeting with the government team, Ajaero, who led electricity and oil and gas workers to the meeting, said a committee would be set up to look at labour’s demands. He added that it would be chaired by a nominee of the federal government and has a two-week timeframe to submit its findings. He said that the committee would look at the issue of the N500 billion social intervention fund included in the 2016 budget and the reconstitution of the board of the Petroleum Products Pricing Regulatory Agency (PPPRA). The committee was also mandated to review the new pump price of petrol announced by the government last week, he explained. Ajaero disclosed that his faction was against the nationwide strike declared by the NLC faction led by Wabba. “We insisted that there was no way we could mobilise, sensitise and even start an action tomorrow (today). We would rather negotiate and it is when that collapses that we take the option of going into any action,” Ajaero said. Members of the government team that met with Ajaero and his team included Edo State Governor Adams Oshiomhole, the Minister of Labour and Productivity, Chris Ngige, Minister of State for Petroleum Ibe Kachikwu, Minister of Budget and National Planning, Udo Udoma, and the Minister of State for Solid Minerals, Karu Bawa Bwari. Oshiomhole said the report of the committee would be submitted to the committee of the whole, with labour being part of the body to fashion it out.

Senate Backs Subsidy Removal However, as the federal government held extensive discussions with the

unions to avert the nationwide strike, the Senate yesterday threw its weight behind the new policy on petrol and advised the labour unions to continue to dialogue with the federal government with a view to resolving the crisis caused by the increase in the price of petrol. The Senate, which made its position known after a closed-door-session, also advised the government to immediately commence the implementation of the palliative measures provided in the 2016 budget. Announcing the resolutions after the session, Deputy Senate President Ike Ekweremadu, who presided over yesterday’s session, said the Senate sympathised with Nigerians over the pains inflicted on them by the fuel price hike. He said: “The Senate in a closed session deliberated on the increase in the pump price of petrol by the federal government and the threats by the organised labour to embark on a nationwide strike over the matter and resolved as follows: “That we sympathise with ordinary people of Nigeria on the hardships they are going through. The Senate will engage the federal government to find sustainable ways of improving the welfare of the people of Nigeria. “That we call on the government to continue to engage organised labour and other stakeholders to resolve issues in order not to ground the system and impose more hardships on our people. “That government should immediately start implementing palliatives or palliative measures contained in the 2016 Appropriation Act passed by the National Assembly.” After plenary, Senator Ben Murray Bruce (Bayelsa East), while briefing the press, said whereas he was not unaware of the argument by the federal government on the hike in fuel price, his main concern was the failure of the government to put any measure in place to cushion the effects on ordinary citizens.

House C’ttee Meets with Labour The position of the Senate was followed by a meeting between the ad hoc committee set up by the House of Representatives to look into the fuel price hike and the leadership of the NLC over the planned strike. The meeting, which started at 6.05 pm and was held behind closed-doors, had in attendance Wabba, NLC Deputy Presidents Peter Adeyemi and Najeem Yasin, General Secretary, Dr. Peter Ozo Esan, and other executive members. The House committee is chaired

by the Chief Whip, Hon. Alhassan Ado Doguwa, and has 18 members including Hon. Nnenna Ukeje, Hon. Peter Akpatason, and Hon. Daniel Reyeneiju. Before sending out journalists, Doguwa in his opening remarks, appealed that the interaction should be as genuine as possible and thanked the NLC for honouring the invitation of the committee. Wabba, in his remarks, explained that labour’s position was informed by the social impact of the removal of subsidy on petrol on the populace. “The increase in the price of this commodity which has a direct bearing on the people would greatly affect the working class especially at a time when the economy is not doing well,” he said. Wabba added that the purchasing power of Nigerians had already been impacted negatively, even before the fuel price hike. A House member later informed THISDAY that the committee pleaded with the union to shelve the strike and continue to dialogue with government. He said: “The committee also pledged to urgently provide the legislation to back whatever palliative measures are agreed on with government, including the minimum wage. “But labour said it would deliver the message to its members, as it is only their National Executive Committee that can decide to suspend the strike.”

Osinbajo: Buhari Resisted Subsidy Removal In a related development, VicePresident Yemi Osinbajo yesterday rose in defence of President Muhammadu Buhari over last week's increase in fuel price, saying the president had no choice but to approve it. A statement issued by his media aide, Mr. Laolu Akande, said Osinbajo spoke at the public presentation of a collection of essays edited by Mr. Yusuf O. Ali (SAN). The vice-president said even though the president did not want the fuel price to go up, he added that: “He was left with no choice; what can we do if we don’t have foreign currency? We have to import fuel. “If there is one person in Nigeria that believes that the petrol price should not go up by one naira, it is President Buhari.” Osinbajo said that even if all the refineries were working, the country would only be able to produce 40 per cent of domestic demand and would still have to import. “In the absence of foreign exchange and you have to import your refined

petroleum products, what are you left with?” he asked. He said that a lot of the problems associated with the refineries were corruption-related, and also blamed corruption for the non-payment of salaries by many states in the country. “When we look at corruption and its deleterious consequences, we must relate it directly to what we are experiencing at this time,” he added. He noted that the nation’s foreign reserves stand at $27 billion at a time the country has to investigate the alleged diversion of $15 billion from one sector (defence sector) of the country alone. According to him: “That is over half of the entire reserves of the country. We are investigating cases, which show that over $15 billion was lost in one type of contract alone. We are not talking of oil contracts costing billions; we are only talking of security-related contracts alone. “This is not just stealing the resources of the country, it is stealing the future as well.” He warned that corruption poses an existential threat to the country, adding: “Corruption has no label, it is not just a social evil, it is an existential threat to our country. There is no doubt at all that what we have is unlike other countries, (where) people say that there is corruption everywhere, which is true. “But I think the one distinguishing feature for Nigeria and for many other countries like ours is that it is a threat that directly affects the lives and livelihoods of everyone. “It is not just an evil, it is not just an immorality, it is an existential threat because it could truly destroy lives and it has destroyed many lives and has continued to destroy the Nigerian economy.”

NNPC Drops Petrol Price to N143/lt Osinbajo’s remarks coincided with the directive by the Nigerian National Petroleum Corporation (NNPC) to its retail stations located in city centres across the country to sell petrol at N143 per litre, N2 below the maximum price approved by PPPRA. THISDAY learnt that N143 pump price would apply to NNPC stations in city centres across the country, while a lower price would apply at its stations in semi-urban and rural parts of the country. However, other stations owned by independent and major oil marketers would still dispense petrol at N145 per litre. When contacted to clarify this

development, the Group General Manager, Public Affairs of the NNPC, Mallam Garba Deen Muhammad, confirmed the revised price for NNPC stations and price disparity. Muhammad explained that the N143 price would apply to the corporation’s retail stations in towns and cities in the country, while a lower price would be used by its stations located in semi-urban and rural centres. Giving reasons for the disparity, he said the corporation wants to keep the price gap with other marketers very slim in the cities, but significantly different in the hinterland where demand is much lower. He said: “If the gap is too wide in the cities, then you will find that all NNPC retail stations will be jam-packed and in most cases they will cause traffic build-ups. “But outside the cities, the price will be much lower. If the gap in the city is not too wide between other marketers and NNPC, you will find that the situation will be better managed.”

N48.2bn Subsidy Arrears Paid to Marketers Meanwhile, the federal government announced yesterday that it had paid N48.2 billion as outstanding subsidy claims from 2015 to oil marketers last week, to enable them import petroleum products and meet their financial obligations. A statement issued by the Director (Information) in the Ministry of Finance, Mr. Salisu Na’inna Dambatta, quoted the Finance Minister, Mrs. Kemi Adeosun, as saying that the federal government authorised the Debt Management Office (DMO) to pay the claims, less tax liabilities of N5.171 billion as computed by the Federal Inland Revenue Service (FIRS). “The gross total outstanding subsidy claims accruable to the oil marketers for 2015 stood at N48,207,176,262.44, while deductable tax liabilities payable to the Federal Inland Revenue Service stood at N5,171,186,373.05 only. “Giving details of the payments, Mrs. Adeosun stated that oil marketers without tax liabilities were paid in full, while oil marketers with net subsidy claims and FIRS liabilities were paid net claims after deduction of tax liabilities. “She further stated that all oil marketers that are indebted to the Federal Inland Revenue Service and seven oil marketers that are indebted to the Asset Management Company (AMCON) were not paid until they settle their debts with the two agencies,” the statement concluded.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWS

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

PDP Troubles Not Over Yet as Threat of Parallel Convention Looms BoT members boycott NEC meeting

Onyebuchi Ezigbo in Abuja The Peoples Democratic Party has again proved it’s unpredictable nature as the waring factions who had earlier accepted to bury their differences yesterday returned to their trenches, thus setting the tone for further crisis. Signs of further crack in the unity of the opposition party came out on Tuesday as the leaders of the aggrieved group, Concerned PDP stakeholders regrouped to plot for alternative convention just as the party’s National Executive Committee (NEC) was meeting to approve resolutions for Saturday’s convention. Yesterday’s NEC which had governors, Dave Umahi, Okezie Ikpeazu, Olusegun Mimiko and Ayo Fayose and Deputy Senate President, Ike Ekweremadu in attendance witnessed heavy boycott by leaders of the mostly members of the Board of Trustees. Also on Monday, a Federal High Court in Lagos was said to have granted an injunction stopping the elections into the offices of the National Chairman, National Secretary and National Auditor. But the PDP national chairman, Senator Ali Modu Sheriff has denied knowledge of the court action and has distanced himself and the party from proceeding at the Lagos court. At yesterday’s meeting of the concerned stakeholders, the aggrieved PDP group made up of 54 top leaders of the party, the party members canvassed a plot to go ahead with arrangements for a parallel convention, if their demands were not met. THISDAY gathered from a reliable source that the splinter group met at the residence of the chairman of the African Independent Television, Chief Raymond Dokpesi where they fine-tuned strategies on how to counter the planned PDP convention in Port Harcourt. The group appointed some of its members to act as the steering committee to organise a parallel

convention on Saturday. The source said that the group had asked Sheriff to shift the Port Harcourt convention to allow for proper reconciliation of issues arising from the zoning arrangement and nationwide congress. While Prof. Jerry Gana is to serve as the national coordinator, the group appointed state coordinators to help in organizing its own version of the national convention in Abuja. It was learnt that following the decision of Sheriff-led NWC and PDP NEC to go ahead with the convention on Saturday, the concerned PDP stakeholders group said they would start mobilizing by today party members to storm Abuja for its own convention. However, at the end of the PDP NEC meeting held at the national secretariat in Abuja, Sheriff said the party reached agreement on three issues one of which is that the convention should hold on Saturday. He said that NEC also resolved that it will take a resolution at the convention to the effect that the next presidential candidate of the party will come from the northern part of the country. Some of the states where the congresses are to be repeated, include Sokoto Zamfara, Lagos, Yobe, Anambra, On the arrests of PDP members over 2015 campaign funds, the party said that the anti graft agency should also investigate the ruling party’s campaign fund. Just like the meeting of the BoT that was rowdy, Tuesday’s NEC meeting witnessed hot exchanges between the leaders. While declaring the meeting open, Sheriff said : “We have so many issues that need to be tackled before we get to the national convention in Port Harcourt and we thank God that we have virtually resolved all the issues”. While addressing the NEC meeting, the governor of Ondo State, Dr. Olusegun Mimiko

Wike: No valid court order stopping PDP national convention

cautioned the party leaders against what he described as the likely emergence of another party made up of splinter groups from PDP and APC. He said that it was another evidence of the resilence of the party that just 48 hours ago when people feared the party will break up, the leaders rallied and settled their differences. The Deputy Senate President, Senate Ike Ekweremadu said Nigerians were worried that the PDP was about to disintegrate but I am happy that our umbrella is getting better and better and those who are polishing their shoes to join us are happy for that. He said the party’s governors and members of National Assembly members had rallied round to ensure that issues were resolved. On his part, the chairman of the BoT, Senator Waleed Jibril recounted efforts made by members of the board to resolve

the convention crisis. Meanwhile, Rivers State Governor, Nyesom Wike, has said the national convention of the Peoples Democratic Party (PDP) will hold on May 21 as scheduled, insisting that there was no valid court order stopping the party from holding the convention. Wike, who is also the chairman of the National Convention Planning Committee of the PDP, said he had not been served any such order. He added that the suit before a Federal High Court in Lagos was filed by an imposter and that the national chairman of the party had written to the court informing it of the fraud. Wike spoke during his appearance on Channels Television Sunrise Daily broadcast monitored in Port Harcourt yesterday. He said: “There is no valid court order stopping the PDP

National Convention. The suit at the Federal High Court Lagos was filed by an imposter. As a chairman of the National Convention Planning Committee, I have not been served any court order. How can there be an order when I did not go to court?” The governor also said the national convention of the party would hold on May 21 as scheduled because shifting the convention would be dangerous as there would be no National Working Committee (NWC) after that date. He said the right processes have been followed and congresses held at different levels leading to the national convention. Wike also declared that the PDP emerged stronger from the recent challenges because all leaders of the party were working to keep the party united, adding that the party

stakeholders have resolved their differences by placing the survival of the party above other considerations. “At the point we are now, we want everybody to be together to form a united opposition in the interest of the nation. When a presidential candidate emerges from the north in 2018, the Chairman of the party will come from the South,” he said. Speaking further, the governor said: “We will no longer allow the imposition of candidates. We are encouraging every candidate to contest elections and emerge through popular votes. We will not allow impunity or imposition.” The governor also said he has lost confidence in the Independent National Electoral Commission “INEC” because the commission “is too inconsistent”, as it works to promote the interest of the All Progressives Congress (APC) in Rivers State.

ANATOMY OF CORRUPTION

R-L: Vice President, Prof. Yemi Osinbajo; Author, Mr. Yusuf Ali (SAN); and Chairman, Skye Bank, Mr. Tunde Ayeni, at the public presentation of a book titled: ‘Anatomy of Corruption in Nigeria’ written by Ali in Abuja ....yesterday enockreuben

TCN: Nationwide Power Supply Drops to 1,400MW Discos groan under N300bn revenue shortfall Ejiofor Alike in Lagos and Chineme Okafor in Abuja The total amount of power available to the Transmission Company of Nigeria (TCN) to distribute to home and offices across Nigeria has dropped to 1,400 megawatts(MW). The System Operation/ Market Operation Department of the TCN stated this yesterday in a statement from its Assistant General Manager, Public Affairs, Mr. Clement Ezeolisah, in Abuja. Ezeolisah stated that electricity generation into the national grid dropped to 1,400MW as at Tuesday, May 17, 2016 because of operational challenges experienced by gas power generation companies in the country. He said the drop in electricity generation was due to constraints in the thermal power stations which

have prevented the generators from producing at optimal levels. He did not disclose nature of these challenges but THISDAY understands that it is not unconnected to the dip in gas supply to the plants. Key pipelines conveying gas to power plants in the south have been vandalised and are undergoing repairs which the government said will be completed within the last weeks of May. However, Ezeolisah said that all stakeholders in the power sector were working assiduously to achieve improvements in the system. He said TCN expressed regret over the attendant inconvenience the low power generation has caused to homes and businesses in the country. Meanwhile, the 11 electricity

distribution companies have deplored the increasing revenue shortfall in the power sector, saying the liquidity crisis is threatening to undermine the electricity value chain and the ability of the operators to continue to serve their customers. In a World Press Conference organised yesterday in Lagos, the Discos under the auspices of the Association of Nigerian Electricity Distributors (ANED), noted that despite the liquidity challenges, they have deployed 3,283,402 meters to customers in the last two years, thus reducing the metering gap in the country to 2.8 million. Speaking at the conference, which was attended by the Chief Operating Officer (COO) of Ikeja Electric, Mr. Anthony Youdeowei, Managing Director of Abuja Electricity Distribution Company, Mr. Neil F. Croucher and

his counterpart in Ibadan Electricity Distribution Company, Mr. John Donnachie, the Executive Director of ANED, Mr. Sunday Odutan said the revenue shortfalls had affected the ability of the companies to make capital investments in metering, network expansion, equipment rehabilitation and replacement. “Industry shortfall is massive and growing, now about N300 billion. This is a cash liquidity crisis that threatens to completely undermine the electricity value chain and its ability to continue to serve its consumers,” Odutan said. He identified gas pipeline vandalism as the major cause of low electricity generation, saying this has denied customers the needed power supply and also prevented the distribution companies from collecting sufficient revenues to maintain and improve their

networks. “Gas pipeline vandalism leads to shortage of gas to power stations; shortage of gas leads to low generation. Low generation and poor transmission facilities lead to low distribution. Therefore, discos are not to blame for poor power supply. We cannot give what we don’t have,” Odutan added. Odutan also identified theft of electricity, debts owed by ministries, departments and agencies (MDAs) and lack of access to foreign exchange as some of the serious challenges facing the Discos. He revealed that some customers bypass meters and connect themselves illegally, adding that the electricity industry cannot survive with the present level of theft in the sector. According to him, MDAs debts plus interest now stands at N93

billion, which is yet to be paid. “The ability of the industry to meet its service delivery obligations is severely constrained by the lack of access to foreign exchange,” he added. He said despite these challenges, the Discos had provided 3,283,402 meters to customers, thus bridging the metering gap to 2.8 million. According to him, the companies have also embarked on internal restructuring and streamlining of operational costs to make them run more efficiently. Odutan said the operators had also initiated improved meter rollout strategies at the customer level and the interface trading points, stressing that the Discos are getting better, accounting for the energy they receive, which will lead to reasonable estimated bills.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWS

EFCC Arrests Jonathan’s Principal Secretary, Tukur, Former Kaduna Gov, Yero, Ex-Bauchi SSG, Others Wike ordered me to collect N700m, PDP Secretary confesses Senator Iroegbu in Abuja The Economic and Financial Crimes Commission (EFCC) has arrested the Principal Secretary to former President Goodluck Jonathan for a yet-to-be identified crime.

The commission also arrested and detained former Kaduna State, Governor Ramalan Yero. Sources at the commission at the time of filing this report, did not disclose the reason for Tukur’s arrest, which might not be unconnected with either

Fayemi Addresses UK Parliament Tomorrow The Minister of Solid Minerals Development, Dr. Kayode Fayemi, will tomorrow, address the United Kingdom parliamentarians in Westminster, London on Nigeria’s diversification agenda. This is sequel to an invitation from the All Party Parliamentary Group (APPG) on Nigeria to the minister to address the parliament on the topic: ‘Nigeria’s Solid Minerals Sector: Alternative Investment Opportunities.’ According to the letter of invitation signed by the APPG Chair, Kate Osamor MP, the meeting would afford Fayemi the opportunity to discuss investment opportunities in the Nigerian minerals sector with the parliamentarians, policy makers and business executives. The letter states that the event which would be chaired by Chi Onwurah MP, Vice Chair of the

APPG, “would bring together British parliamentarians, Diaspora stakeholders, policy-makers, business representatives, diplomats, civil society representatives, media, academics and other experts in the sector. “It would be a great pleasure to welcome you to the Houses of Parliament to share your views on politics to transform Nigeria’s solid minerals sector, the value of the sector for Nigeria as the country seeks to diversify away from oil, and on opportunities for investment. “The APPG on Nigeria is an independent and impartial cross-party group of British parliamentarians, which seeks to strengthen the bilateral relationship between the UK and Nigeria, raise the profile of Nigeria in the British parliament and support development and democracy,” the letter added.

expenditure on arms purchases by the Office of the National Security Adviser or slush funds linked to the 2015 presidential campaign. However, the commission has in its pursuit of the beneficiaries of N23 billion campaign funds, arrested a former Secretary to Bauchi State Government (SSG), Alhaji Ahmed Ibrahim; former Personal Assistant to former Governor Isa Yuguda of Bauchi State, Alhaji Sanusi Mohammed Isa; and Secretary of Peoples Democratic Party (PDP), Alhaji Salisu Garba. The suspects were said to have been arrested and interrogated in Gombe on Monday in connection with N500 million allegedly sent to Bauchi State from the campaign funds provided by the immediate past Minister Petroleum Resources, Mrs.

Diezani Alison-Madueke. The trio, in their statements, allegedly said the N500 million cash was distributed in the Ramat Hall of the Government House, Bauchi State. According to the EFCC sources, “The former secretary to the government and the secretary of PDP admitted collecting N20 million each while Yuguda’s personal assistant collected N15million.” “However, they have individually pledged to refund the money they collected,” the source revealed. Also, the Kano State PDP gubernatorial candidate in 2015 general election, Malam Salihu Sagir Takai, was invited by the EFCC Kano Zonal Office over the N50 million taken by his campaign organisation out of the N950 million allocated to

Kano State. Takai, a former Commissioner for Local Governments and Chieftaincy Affairs under the Shekarau administration whose name featured prominently last week when his principal and former Foreign Affairs Minister, Ambassador Aminu Wali, was interrogated by EFCC operatives, confirmed receiving the said sum. Meanwhile, operatives of the EFCC have grilled the Rivers State Secretary of the People Democratic Party (PDP) Mr. Samuel Johnson Okpoko, for collecting the sum of N700million from the controversial $115million lodged with Fidelity Bank Plc, by Allison-Madueke Okpoko who was the state PDP campaign coordinator in the 2015 presidential election collected the sum of N700 million in two tranches of

N600 million and N100 million respectively at the Trans Amadi branch of Fidelity Bank Plc, Port- Harcourt. Investigations by the EFCC revealed that Okpoko cashed N600 million on March 27 and N100 million on March 31, 2015. Explaining how he became involved, Okpoko said he was instructed by the then PDP governorship candidate, Wike, to go to the branch of Fidelity Bank to cash some money there. “I was with my governor in his house sometime on March 15, 2015, when he got a call and Chief Wike after the phone call told me that the call was from Fidelity Bank and they have some money for him,” he said. Okpoko is in the custody of the EFCC and would be charged to court soon.

NCAA Cautions Airlines over Rise in Flight Cancellations Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has expressed concern over increase in the spate of flight cancellations in the country. Recently, many of such cancellations were attributed to inadequate supply of aviation fuel, but the regulatory body warned airlines to desist from arbitrary cancellation of flights, citing fuel scarcity. It said instead of bringing passengers to the airports and later disappoint them, the airlines should make proper projections to know the number of flights they operate in a day, in view of the prevailing scarcity. In a statement signed by its spokesman, Sam Adurogboye, NCAA said several reports from the Consumer Protection Officers (CPOs) and aggrieved passengers have inundated the regulatory authority’s offices from across the nation’s airports. “Notwithstanding, the regulatory authority is very much aware of the prevailing challenges as regards aviation fuel, it is expected that the airlines should follow strictly the requirements Nigeria Civil Aviation Regulations (Nig.CARs)in carrying out their operations. “The circumstances should not open a window for outright impunity and a flurry of cancellations which has consequently rendered air travel in the country a nightmarish experience,” NCAA said. It therefore warned all the airline operators to adhere to the Standard and Recommended Practices (SARPs) while dealing

with passengers many of whom have parted with their hard earned cash in return for comfort and value while commuting to their destinations. “Therefore sufficient notice must be accorded all intending passengers prior to any operational cancellation. Where there is a delay in the service, passengers must be duly informed and light refreshment provided. “Operators are advised to ensure tickets are not sold to air travellers when there are perceived or real hitches concerning sourcing of aviation fuel (Jet A1),” the regulatory authority said. NCAA said while it was not unmindful of the efforts being made by the airlines to avoid operational hiccups, passengers are similarly enjoined to exercise restraint and cooperate with airline officials during eventualities. “It is noteworthy that the Federal Government of Nigeria is already taking measures that would ameliorate the paucity of aviation fuel. These steps would guarantee availability and allow operators provide adequate services. “However, NCAA wishes to reiterate that all airlines should henceforth guard against frequent flight cancellations that will jeopardise the conditions of carriage agreed with the passengers. “The authority has therefore intensified monitoring at all the nation’s airports. Subsequently, any unjustifiable or avoidable flight cancellation will be viewed with utmost seriousness and where culpability is established very stiff sanctions will be applied,” the authority said.

WELCOME TO LAGOS

L-R: Kano State Governor, Dr. Abdullahi Umar Ganduje; Lagos State Governor, Mr. Akinwunmi Ambode; his wife, Bolanle; and Speaker, Kano State House of Assembly, Hon. Kabiru Alhassan Rurum, during a courtesy visit by the Kano State governor to the Lagos House, Ikeja... yesterday

Senate Throws out Na’Allah’s Anti-Social Media Bill Omololu Ogunmade in Abuja The Senate yesterday threw out the Frivolous Petitions Bill otherwise known as Anti-social Media Bill, thus laying to rest a series of agitations and uproar which accompanied its initiation last year by Deputy Senate Leader, Ibn Na’Allah. Critics of the bill had vehemently condemned its conception, saying it was designed to gag the social media and simultaneously curtail freedom of expression as enshrined in the constitution. However, the decision to kill the bill yesterday followed the presentation and adoption of the report of the Senate Committee on Judiciary, Human Rights and Legal Matters which handled it at the committee stage. Chairman of the committee, Senator David Umaru, while presenting the report at the plenary, said the committee’s findings were negative and hence, the necessity

to recommend its withdrawal. He said: “The Committee on Judiciary, Human Rights and Legal Matters to which was referred a Bill for an Act to Prohibit Frivolous Petitions; And Other Matters Connected Therewith, having considered same, reports negatively thereon and accordingly recommends as follows: “That the Senate do withdraw the bill for an Act to prohibit Frivolous Petitions; and other matters connected therewith.” Umaru said even though the initiation of the bill was not only laudable, commendable and innovative, it passage this period would be counter-productive to the ongoing war against corruption. According to him, some of the nation’s extant Acts, such as the Penal Code, Criminal Code, the Cybercrime Act, among others, have sufficient provisions capable of addressing the issues raised in the Frivolous Petitions (Prohibition

etc) Bill 2015. He also observed that even though the bill had the tendency to discourage frivolous and maliciöus petitions meant to discredit or set the public against any person, group of persons or institutions of government, “its passage into law in this current form, will do more harm than good.” He added: “That the passage of this bill into law will conflict with some provisions in some of our extant Acts, which make provisions for whistle blowers protection in Nigeria e. g. Economic and Financial Commission Act (Section 39(1); Independent Corrupt Practices Commission Act (section 64); Terrorism Prevention Act (section 31); Trafficking in Persons (Prohibition) Enforcement and Administration Act (sect on 46) etc. Passing this bill will expose them to more dangers and threats to life.” Umaru also said instead of passing the bill, what the Senate

should rather do is to amend and update some of the extant Acts to accommodate emerging global trends instead of duplicating already existing laws. He also added that the passage of the bill would inflict hardship on Nigerian citizens Iiving in places that are distant from high courts and federal high courts adding that “it will be required to first incur transportation costs to the court and also pay for drafting, typing and fiIIing of affidavit, before they could report breaches of peace.” Furthermore, Umaru said since the regulation of text messages, tweets, whatsapps or other social media platforms is provided in the Nigerian Communication Act of 2003, application of Frivolous Petitions Bill would only Iead to role conflict. Therefore, having considered the report and the concerns raised by the committee, the senators unanimously resolved to throw out the bill.

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

T H I S D AY • THURSDAY MAY 18, 2016

COMMENT

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

CIVILISATION IMPERILLED

The family is the fundamental unit of society, writes Sonnie Ekwowusi

o affirm that the human civilisation is imperilled today principally due to the breakdown of the most important pillars of society is an understatement. Our world has changed. A new totalitarianism now looms in the horizon. What used to be regarded as the human civilisation is being reinvented and in the process eroded. What we are witnessing today is not just climatic or environment change but a profound systematic deconstruction of the very key institutions upon which the human society lays its claim to civilisation. One of such key institutions is the natural family. The natural family is not just facing deconstruction but complete extinction. This is alarming. When families fail to function properly, Prof. Robert P. George argues, the effective transmission of the virtues of honesty, civility, self-restraint, concern for others, is imperilled. In other words, the widespread failure of the family results in disastrous social consequences such as corruption, failed leadership, stealing of government money, kidnapping, transgenderism, youthful and adult delinquencies. The pertinent questions are: where do we go from here? What is this world turning into? The answers to these questions and many others are being answered at the moment at the 10th edition of the World Congress of Families which commenced at the Radisson Blu Iveria Hotel, situate at the heart of Tbilisi, last Sunday. The important subject matters shaping human civilisation being discussed at the Congress are: Marriage as the foundation of civilisation; dangers of marriage deconstruction in the name of equality; The role of religion in supporting the family; Parental rights (including home schooling); Declining fertility (Demographic Winter); Abortion, Euthanasia and other life issues; Gender Theory and Sexuality Education as tools for indoctrination; The war on the family in education, media and the courts; Responding to the challenges of multi-national bodies to the Sexual Revolution and Cultural Marxism. This congress challenges world leaders and policy makers to reassess the place of the natural family in world development. Participants at the Congress came from all walks of life. I arrived in Tbilisi a few days ago in company with other Nigerian delegates. Speaker after speaker emphasised the urgent need to first save the human family in order to save the world. A so-called technologically advanced world without natural families to provide the moral compass to sustain it is indeed a failed world. In his goodwill message to the Congress, former American President George W. Bush said: “Around the world, families provide that beacon of freedom and the source of help, hope, and stability for individuals and nations. As one of the pillars of civilisation and the bulwark of liberty, families must remain strong and we must defend them”. Other notable world speakers who spoke at the congress alerted participants on the danger of destroying human civilisation by destroying

WHEN FAMILIES FAIL TO FUNCTION PROPERLY, THE EFFECTIVE TRANSMISSION OF THE VIRTUES OF HONESTY, CIVILITY, SELF-RESTRAINT, CONCERN FOR OTHERS, IS IMPERILLED

the natural family which is the fundamental unit of society. Before and after the American Supreme Court judgment redefined marriage and by extension redefined the notion of the family, America was and has become a major exporter of gay “rights” across the world. The thrust of American foreign policy under President Barack Obama is gay “rights”. In fact, under the strong influence of Obama, many American and European countries are giving legal recognition to gay marriage and gay practices. Since John Money, a behavioural psychologist (1921-2006) invented the controversial word “gender” which was later smuggled into the Beijing documents; an anthropological cataclysm has been unleashed on the world. Today America has become a major exporter of transgenderism. No anthropological difference between a man and a woman. The so-called difference between a man and a woman is being dismissed as a social construct or a cultural imposition. The identity of a man or woman is now defined by their sexual orientation. A woman can claim to be a man. A man can claim to be a woman. A man can now enter a female toilet at will and a woman can freely enter a male toilet. According to the American Society for Aesthetic Plastic Surgery, between 2014 and 2015 alone, there was an 80% increase in the number of girls aged 18 and even younger who underwent genital plastic surgery. The numbers increased so quickly that the American College of Obstetricians and Gynecologists (ACOG) issued new guidelines this month to guide doctors performing labial and breast surgery. Among the recommendations: physicians are now encouraged to screen girls for body dysmorphic disorder, an obsession with an imagined or slight defect in appearance before the surgery. In far away Canada, a new madness has started. A Canadian court has recently ordered a father to henceforth treat his 11-year old daughter as a boy. Meanwhile, the parents of the gender-confused daughter who is on hormone blockers are divorced, and the father disagrees with the mother with regard to the treatment of the child’s condition. In Germany and other countries, sex corners have been carved out for school children where they are taught masturbation, how to wear the condoms and how to engage in so-called safe-sex, all in the name of sex education. In the end, all the congress speakers agreed that the confusion in today’s world should be corrected. We should train the mind to appreciate and understand the truth about the human person. We need men with chests. According to C. S Lewis in The Abolition of Man, “... You can hardly open a periodical without coming across the statement that what our civilisation needs is more ‘drive’, or dynamism, or self-sacrifice, or ‘creativity’. In a sort of ghastly simplicity we remove the organ and demand the function. We make men without chests and expect of them virtue and enterprise. We laugh at honour and are shocked to find traitors in our midst. We castrate and bid the geldings be fruitful”.

STILL ON THE RIGHTS OF FULANI HERDSMEN

The authorities must contain the Fulani herdsmen terrorism and show them modern way of farming, argues M.C Asuzu

hen the 2015 national political elections were coming, there were very heated campaigns and debates on all sides. As was to be expected, the partisan politicians were clutching on everything possible to sell themselves to us. As usually happens in these things, they fished out every possible point in their favour (and/ or against their opponents) and many times either exaggerated it or then used it to add some other untrue issues thereof. In that way they invariably may lose some of their erstwhile non-partisan and/ or more objective audiences in the discussion. In this way, some of the important issues that they are raising at that time may naturally get overlooked at that time. One of those truths that was then taken out of proportion, was the never hidden issue of the Usmanu Dan Fodiyo and his actual or claimed descendants agenda to “conquer” the whole of Nigeria; and for the mere fact of their being of the inherently theocratic Islamic religion that can very easily used to totally possess people, to then completely also force that religion on the people for their more primary, personal and selfish political interests, irrespective of that religion. It was easy for people to quickly dismiss that fact because they were being used to counter the fact that Muhammadu Buhari has been the one past Nigerian (military) leaders who did not show any tendency for personal enrichment from the office as well as a dedication to honestly fight corruption without evidences of his own past records of such personal corruption. However, since that victory by Muhammadu Buhari, all the evidences that it can be taken advantage of by the Fulani/Usmanu Dan Fodiyo interest groups for imperialism and total Nigerian conquest is everywhere for us to see. The terrorist attacks on EVERYBODY EVERYWHERE IN NIGERIA who will not let them herd their cows through their farms and eat up their crops,

including the raping of their women and girls, has grown by leaps and bounds. In spite of all these and the cries from everywhere, President Muhammadu Buhari has not uttered ANY SERIOUS ENOUGH word in that regard. Yet, he is the only one who MUST speak to his very own Fulani people that this is not a permissible way to go; especially when he is the head of state of this country. To fail to do so would obviously be to take the Nigerian people and the mandate for good governance given to him for granted, or indeed, for a joke; no matter what beneficial things else he does. He is the only one who must persuade these people that the idea of empires or colonising anybody or of terrorist conquests in so primitive that nobody in the modern world should be found toying with it! When the latest episode of the sacking of a whole community in Enugu State occurred recently, late in April 2016, and many calls for the taming of the menace was raised from everywhere outside of the Fulani indigenous segments of this country, the association of these herdsmen had the effrontery to tell everybody in the country that they will go on with the terrorism because it is their constitutional right to do so; and that nobody can restrict them from doing so. Obviously, this raised many more angry responses. It is for this reason that the subject merits looking into in a very dispassionate way. Many contrasts and more genuine cases of people’s constitutional rights in Nigeria denied them in Fulani (actually, Hausa-Fulani) dominated states of the country would now need to be brought up for wider examination by one and all. For the purpose of the progress that we all need in the modern world, nobody should be treating these matters from the point of venting uncontrolled angers. Christianity-based responses should be the least to do so! Yes, the Nigerian constitution “guarantees” every Nigerian the right to live and conduct every legitimate business of his interest in the country. But does the constitution guarantee (or even encourage)

such Nigerians to trespass on other people’s property and rights? Does it encourage such people to let their animals feed on people’s agricultural properties and to destroy them? Does it allow them to vandalise people, rape their girls and women? OBVIOUSLY, NO SUCH RIGHTS EXIST WHATSOEVER; and these people must surely be brought to know that. There are laws in Nigeria which should ensure that all the people who do such things should be maximally punished. In any civilised and civilising country, people like that should be in lifelong jail or other severe imprisonment (possibly without any option of fine), or capital punishment, if permitted in such a place – especially if not informed by Catholic theology or morals that does not encourage or support such capital punishment. It is in the best interest of such people that they are limited to states and cultures that will understand such ways of living; and that is the responsibility of the federal government! When Nigerians hear these very dangerous claims, people like me recall how many medical doctors from those parts of Nigeria that I have helped to train in Maiduguri as visiting teacher at the undergraduate (and Ibadan for specialist) education but who, coming from Borno or Yobe States especially (among such far northern states), have been denied employment or promotion in their very own states of origin. We recall churches in Sokoto town built on lands legitimately acquired by Christian communities which were destroyed by the apparent traditional Islamic or civil government agencies because Christian Churches will not be permitted in such places; even in a university! Yet these Middle Belt or Southern Nigerian peoples allow mosques to be built anywhere in their places that these people legitimately purchase such lands and without the traditional or civil government interfering with such rights! We all know of southerners, Middle Belt or even far Northern minority tribe (and especially Christian) Nigerian citizens whose legitimate business premises and wares were vandalised, or the people themselves

killed, in these states because they were Christians. There are vacancies in government jobs in those states but will not be filled if the applicants are non-Muslims; or only so on short term contracts by such non-Muslims, contrary to the labour law requirements in all the civilised places in the world. Correcting all these injustices and corruptions must be part of the change that we voted for; and this government has the duty to bring them about. In the face of all these denials of other Nigerian citizens’ most fundamental rights, it is most bizarre (to say the least) for the very same perpetrators of these inhumanities to rise up and start claiming rights to impunity, terrorism and vandalism. However, God who permits things like these to crop up at the very times they do is always wise in doing so! Looking prayerfully on the whole matter, it would appear to me that He has allowed PMB to become the Nigerian head of state and for these unwholesome events to rear up their heads again at this time. He has done so because PMB is obviously the best person who should bring these events to an end, most perfectly. It is now our duty to learn how to bring these persistently to the face of PMB as well as of all other Nigerians, until he does so. In doing this, we must learn to do so in the most civilised and non-war-mongering manners; but only in the most educative and win-win manner. We must propose healthier ways to contain and curtail the Fulani herdsmen terrorism as well as to show them how commercial cattle rearing is done in the modern world in the civilised and previously pastoral nations of the world – within irrigated ranches, even in the most arid places!These also provide tremendous national resources for the governments (through appropriate rentage paid by the users of those ranches) as well as the herdsmen, in a win-win manner. Nigeria must become one of these civilised countries of the world; and the duty to educate and help arrive at it is surely the duty of us all. Professor Asuzu wrote from Ibadan

T H I S D AY THURSDAY MAY 18, 2016

EDITORIAL DEATH IN THE LINE OF DUTY The police should be well provided for

t a recent presentation on “Police-Public Partnership in Prevention and Control of Violent Crimes and Conflicts in Nigeria” organised by the Advancement Office of the University of Jos, the Inspector General of Police, Mr. Solomon Arase, made startling revelations about the casualty rate of the police in the last two years. He said 350 policemen were killed while 272 sustained various degrees of injuries in the line of duty. The loss of the officers was to violent crimes, including armed robberies, communal clashes and insurgency. Averaging more than 100 casualties per annum, this is without a doubt unacceptable. If law enforcement officers who are charged with the duty of protecting lives and property of citizens fall easy prey to the antics of the perpetrators of violence, public confidence in the capacity of our security agencies to deliver on their mandate becomes hugely undermined. But it is not sufficient to merely lament the unacceptable EXCEPT SECURITY casualty rate. Rather, OPERATIVES ARE the authorities should THEMSELVES SECURED, IT locate the cause of WILL BE IMPOSSIBLE FOR the frequent felling THEM TO SECURE OTHER of security officers by CITIZENS violent criminals and find a lasting solution to the problem. It is noteworthy that Arase highlighted inadequate training, deficient arms and ammunition, obsolete communications and logistics, and lack of transportation as the bane of the force. As basic as all these are to the onerous task of securing the Nigerian space, the police and other internal security agencies have perennially complained about the failure of government to provide them. Yet everyone and the government expect the security operatives to deliver on their mandate when it is obvious that the criminals they are up against are motivated by the sophistication of their fire power which is clearly superior to that of the police. No wonder we have this high number of

Letters to the Editor

deaths in the line of duty. Over the years, government funding to the security sector has dwindled owing to shortfalls in its revenue. Subsequently, it had set up several committees to suggest the way forward. Regrettably, however, none of the reports and recommendations of the committees has ever been comprehensively implemented. The result is what we are now dealing with a police force that cannot defend its own against violent hoodlums.

B 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

eyond the issue of inadequate training and equipment leading to avoidable deaths and injuries to officers and other ranks, is the shabby handling of the dependants of the deceased. In many cases, entitlements and benefits of officers killed in the line of duty are hardly paid, leaving their families and dependants to the vagaries of the harsh social and economic situation in the country. Obviously, this cannot be encouraging to other officers in service whom the nation expects to lay down their lives for the security of lives and property of their fellow citizens. To the extent that these problems are not new, President Muhammadu Buhari only needs to terminate the circle of avoidable deaths and injuries to our law enforcers by responding positively to the challenges facing the security agencies, particularly the Police Force. Given the dire security situation in the country, government can no longer give excuses about its abysmal failure to secure Nigerians. Except security operatives are themselves secured, it will be impossible for them to secure other citizens. This is why the federal government must find a creative way to effectively fund the internal security agencies so that the appropriate training and equipment required to upgrade their skills can be provided for them. In the meantime, the hierarchy of internal security agencies, particularly the police, must review their operational strategies to ensure that notwithstanding the prevailing institutional challenges, the exposure of officers and other ranks to fatal assaults by violent criminals is minimised.

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.

FUEL PRICE HIKE OR SUBSIDY REMOVAL NOT SOLUTION

he recent hike in fuel price from N86 to N145 came to me as a rude shock. At first I didn’t believe because such announcement could not have been made just two weeks to the first anniversary of this government. The thinkers of this government got it wrong. The reason for the increase has been hinged on scarcity of foreign exchange and as such the solution is for government to throw out the importation of petrol to the organised private sector and the autonomous market. These two entities are tasked with the responsibility of bringing the price of petrol down in six months. Firstly, where is the address of this so-called autonomous market? Who is the managing director? After much enquiry, I think the autonomous market is not the bureau du change but the black market - pure and simple. The black market in true sense is an illegal market, an unregulated market and a market controlled by urchins that scout for dollars either to sell or to buy on the street. Unfortunately, there is no data to confirm the value of this market let alone to suggest if the market can meet the demands. There are quite a lot to look at. Immediately, this policy upped the exchange rate of naira to dollar from N320 to N360. This is suggestive

of the fact that the same importers banned from accessing forex from the central bank are not getting any relief. The truth of the matter is that the market cannot fund the forex demand of petroleum marketers - $225million/month? The major traders on the black market are those that have access to CBN forex and the arithmetic of this is known. Secondly, the organised private sector is in a prostrate state. Are they are the ones to bring in products and build refineries? Waiting for this to happen will only show lack of understanding of the challenges the sector is going through. We find a situation where these marketers are grossly indebted to banks and the banks are unwilling to fund the oil and gas because of its many troubles. Even the banks are going through the worst era of banking history and therefore are not smiling. The same government has removed idle funds in the name of TSA, have set EFCC on their trail resulting to the arrest of four bank chiefs. I doubt if the banks will come to the rescue of government on reducing pump price. Rather funny to compare telecom with oil and gas. I have heard a lot of commentators compare the fall in the price of SIM card to the likely fall in the price of petrol when deregulated. They are not the same. In telecom the

raw material is the air and the product is to make a call between the two is the equipment that is deployed. This equipment is off the self and can be deployed in days. The same cannot be said about Oil and Gas. The raw material is the crude oil and one of the products is petrol. You need equipment to drill the crude and you need a refinery to refine the crude. This is more capital intensive and cannot be done in days. The return on capital is different, the market is different and therefore the effect on price reduction cannot be the same. How is diesel now and since? It has been within the band of N130 to N170. Finally, to think that the petrol shortages that the federal government and CBN cannot solve will be solved by the twin efforts of OPS and autonomous market is a joke taken too far. It’s my submission that its not possible for the organised private sector or any Nigerian entity has the capacity to deploy PMS and later bring the cost of PMS down in six months as widely speculated by the minister of state. Just like we saw at the unbundling of PHCN we would later see CBN creating another intervention fund to help the oil and gas sector. This policy is not well thought out. Lai Omotola, Maryland, Lagos

T H I S D AY • WEDNESDAY, MAY 18, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

Obanikoro Shames His Detractors Since the news of his graduation at Oglethorpe University in Atlanta, Georgia hit the airwaves, Senator Musiliu Olatunde Obanikoro’s political opponents have reactivated their diatribe against him, writes Olawale Olaleye

“I

’m glad we made it”, said Shirley Ahissa Lopez-Branson while congratulating her colleague, Musiliu Olatunde Obanikoro, in a cozy embrace, depicting a tedious journey which had culminated in their graduation on Saturday, May 14, 2016 – a product of months of hard work, resilience and determination to confront and change some of life’s emerging challenges, she seemed to suggest. “It’s a good thing we made it and finally, this is over and behind us,” a smiling Obanikoro was overheard to have responded, with the duo hugging again and perhaps, for the last time. The moment was emotional, somewhat as the mother of two palpably blushed – nearly all the rainbow colours – yet, basking in the euphoria of the moment – their graduation. Mrs. Lopez-Branson, herself a graduate of Bachelor of Arts in Liberal Studies (History), had spoken earlier on behalf of the non-traditional undergraduate seniors, where she challenged her colleagues to go and chase bigger dreams in whatever societies, communities or governments they may find themselves and stamp the name of the university in gold as did her many alumni, some of whom were present at the commencement and honoured accordingly. About two hundred (200) students were graduated on this day, the traditional and non-traditional inclusive. She was certain that with the quality of education, discipline and standards that Oglethorpe is reputed to have, no student of the university would be a “nobody” wherever life throws them, ultimately. She would later leave the podium with near endless applause, not for the flow of her speech but the substance therein. After the photo session at the university’s premises, Obanikoro with family and friends left for a reception hosted by his childhood friend, Mr. Kayode Bawa-Allah at his residence, where people bantered till late last Saturday. That also came with its own side attractions like another round of photo session and cake-cutting, amongst others. But as he regaled on his seat 92 at the open-field graduation ground, where he had just bagged a third degree in History, the first and second in Public Affairs and Public Administration respectively, both at Texas Southern University (TSU), the United States, Obanikoro’s infectious smile could be interpreted to mean many things, but not exclusive of his concern for the situation back home, where change with its varied meanings is gliding across the turf. Not wanting to contaminate his mood, his brief chat with this writer said as much. “Nigeria is not likely to record the much sought after change because the present structure of the country is anti-development. The problem is first of structure and then, leadership. For the country to make any meaningful development, it must start with restructuring. That is the way forward. “Perhaps, a return to the regional structure is the way to go, where each region develops at its own pace and with the resources available to it. It is there and then, we can begin to savour development with keen competition amongst the regions to trump one another in terms of development and capacity building. And that is where the place of leadership comes in. “In any case, if we are copying anything from any part of the world, it does not have to be wholesale. It behooves wisdom when you copy but domesticate what you are copying to suit your own situation, because those whose idea you borrowed came up with it to suit their situation, factoring in their many tendencies. But where you copy without modulation, then

Obanikoro in his graduation gown, supported by his wife, Ahaja Morufat Omolola (second from left); his second son, Omogbolahan (first from left); his first son, Babajide (first from right) and his first daughter, Monisola (second from right) at Oglethorpe University, Atlanta, Georgia

you would have invariably compounded the original situation you were trying to address since the situations could not have been the same,” he said. Using the US case as an example, Obanikoro said, “For example, the South of America is always slow to change unlike the North which is constantly on the fast lane. But neither the South nor the North is compelled to develop at a dictated pace but theirs. That’s why you find the North heavily developed and the South following gradually behind. But when you see the pace at which the South is also coming, you are certain that they might be slow really,

With a third degree now in the kitty, Obanikoro is fantastically his opponents’ nightmare, evidently. He remains the one politician from Lagos with the highest political credentials and experience. From being Lagos Island Local Government Chairman, he grew to becoming a Commissioner for Home Affairs in Lagos, Senator for Lagos Central, Nigeria’s High Commissioner to Ghana, Chairman of Industrial Training Funds and Minister of State for Defence, amongst many other capacities he had served his state and country

they are certainly coming on steady and sure. “But the structure back home is badly skewed and does not encourage development. We were able to develop in the early fifties because the regional system was effective and encouraged the kind of development that suits each region, depending largely on the ability of the leaders to make good use of their resources. But what kind of structure allows for a region that provides about the 90 per cent of the resources a nation generates to be so backward? That can’t be development. Call it whatever, it is sure not development,” he said assuredly. According to him, Nigeria has no business being where it is today but a victim of many years of structural and leadership ineptitude, a majority of whom he said had lived and studied abroad but have refused to transfer their experience to the governance of the country and states, adding that aside the need to change the present structure, which he claims is not effective, the country’s investment in two other things – education and infrastructure – is what will change the plight of the Nigerian people and put them on the path of prosperity. “You don’t know how sad and unfortunate it is to live with the mentality by the Whites that the average African cannot govern or do anything well? Yet, we keep providing them with the excuses to think so. Let’s concede to Nigeria the fact that we chased the colonialists out of our land early and started our developments ourselves, what would you say of those African countries that were almost fully developed by the Whites and handed over to the blacks? “Without mentioning names, go to such countries and see the mess the blacks have made of their countries and you’d cry for the black man. What is wrong with the black man? Is there more to being black than the colour? Nigerians, honestly, have no business living anywhere in the world outside their homes except for choice with the combination of resources we have. In fact, the Whites should be angling to come and see the wonders back home in Nigeria. I pray the tide changes with focus and determination, away from the prevailing pettiness and misplaced priorities,” he said. However, whilst Obanikoro, family and friends wined and dined in faraway Atlanta Georgia, the United States, his traducers resorted to the social media, where his media trial resumed

hearing at the court of Sahara Reporters, which had picked some of his graduation pictures from the Facebook and demonised them with reckless assumptions, which sparked immediate reactions from a majority of people. Many positive stories by other online publishers and bloggers alike had also followed up as a result, moderating the temperature. Particularly consoling for Obanikoro and family was the fact that a majority of those, who reacted to the “Photo News” as Sahara Reporters had called it were not only positive, they could see through the very report and others before it that the online news media, perhaps, has some scores to settle with the former minister if not being sponsored outright to demean the politician. Not only did Sahara Reporters insinuate that Obanikoro was a fugitive studying abroad, it said expressly that it was wanted by the Economic and Financial Crimes Commission (EFCC), when indeed, the commission had not declared or said anywhere in its official capacity that it wanted Obanikoro for anything. Whilst, therefore, many of the commentators dismissed the report as overtly reckless, insensate and crass unprofessionalism, there were those, who believed strongly it was either being sponsored by Obanikoro’s opponents or stoked by the EFCC through its media wing to set an agenda? Of course, many others joined the bandwagon and called Obanikoro names, asking him to come and answer to Sahara Reporters’ allegations. Bu if anyone had thought Obanikoro was rattled or that the story messed up his day, they probably need to learn of him again. Obanikoro does not brood over whatever does not add value to his life. Immediately he is able to analyse a particular situation and recognises it does not have the capacity to improve his lot, he moves on without hesitation because life, for him, would not record that as a plus and he would be unable to defend why he had allowed an obviously orchestrated situation to undo him. With a third degree now in the kitty, Obanikoro is fantastically his opponents’ nightmare, evidently. He remains the one politician from Lagos with the highest political credentials and experience. From being Lagos Island Local Government Chairman, he grew to becoming a Commissioner for Home Affairs in Lagos, Senator for Lagos Central, Nigeria’s High Commissioner to Ghana, Chairman of Industrial Training Funds and Minister of State for Defence, amongst many other capacities he had served his state and country. There is no doubting the fact that Obanikoro has always been a menace to the political comfort of ‘the owners of Lagos’. Although he graduated from their university of politics in Lagos a long time ago, he had since moved on to being an imposing political stature in the artery of the state’s body polity, the reason they are believed to have continued to accuse him of allegations they also cannot pass as a simple test, either in integrity, capacity or genuine human relations. But whilst they brood and yell at a man, who’s chosen to turn a deaf ear to their destructive political ranting and what some would describe as sheer envy, he is counting his goodness in God’s faithfulness. His resolve to take up a post-graduate course after his political engagements for many years has been described as a commendable feat worthy of emulation. Indeed, he is a lesson in leadership as against those, who waste away in pursuit of ambitions they clearly lack the capacity to drive. And guess what? Obanikoro, family sources say, might be planning to undertake yet another professional course in a challenging field. That is coming soon. Keep a tab on this space.

T H I S D AY • WEDNESDAY, MAY 18, 2016

UPDATE&TRENDING

MIDWEEKPOLITICS

The Badeh Drama Continues The case between the Economic and Financial Crimes Commission and former Chief of Defence Staff, Air Chief Marshal Alex Badeh has been very intriguing. As the trial resumes today, many will be waiting to see if the witnesses for the prosecution will continue to refute their statements, writes Shola Oyeyipo

oday, as the case involving the former Chief of Defence Staff (CDS), Air Chief Marshall Alex Badeh continues before Justice Okon Abang of the Federal High Court in Abuja resumes, more Nigerians will follow it with keener interest because of the new dimension being introduced by the witnesses. The case is no doubt one of the most interesting anti-corruption cases and the reason is simply because at trial, the witnesses being put forward by the Economic and Financial Crimes Commission (EFCC) are not standing firmly on their statements. One of the key witnesses, former Director of Finance and Accounts at the Nigerian Air Force (NAF), Air Commodore Salisu Yushau (rtd) has simply altered his initial statement. Yushau initially made sterling revelations before Justice Okon Abang of the Federal High Court in Abuja when the trial commenced. He told the court how Badeh diverted N558. 2 million from the NAF account monthly. He revealed that he regularly handed over the dollar equivalent of N558.2m to Badeh at his official residence in Abuja and also claimed that N90 million was used to renovate and furnish a property belonging to Badeh’s son. Yushau had said that he was the one that negotiated and paid N240 million for the house Badeh bought for his first son in Abuja. But for interested Nigerians who have been following developments at the trial, as the legal drama continues in the court, Yushau has been making conflicting statements that are definitely not in the interest of the prosecution. For instance, it was surprising on Tuesday, April 12, at the resumed hearing, when Yushau told the court that he had no personal records to establish the fact of the cash transactions made between him and Badeh. The retired Air commodore admitted that the statements he made to EFCC were different from what he was giving in court based on the nature of questions asked. The witness, who was being cross-examined by counsel to Badeh, Chief Akin Olujimi (SAN), told the court that the conflicting statements to the EFCC and his testimony in court in the same case arose from the technicality of the questions asked. He said that the shopping complex purportedly bought at N650, 000 million was not captured in the statement he made to the EFCC in details. On the issue of records to prove the cash transactions made between him and Badeh, Yushau maintained that Badeh gave him verbal instructions to carry out all his transactions. He said he has no document showing he was directed to buy any property neither does he have any to show he either received or gave money to the former CDS. Querying the rationale behind his declaration that he has no document to support his initial claims, Olujimi asked Yushau: “By virtue of your experience, when payment are authorised, it is necessary to have it in writing” and he responded by saying “When a request for expenditure is made through the Chief of Air Staff, it has to be in writing, but if the Chief of Air Staff is making a request for expenditure, he does not put it in writing. It has been so throughout the period I worked as Director of Finance and Accounts at NAF.” He told the court further that though he was aware of the financial regulation for public service which stipulates that all expenses should be documented, but that he could not request for documentary authorisation because things operate differently in the military. “If the CAS asked me to buy N50million car for his friend, he does not need to write, and I will not question his request because he is the Chief Accounting Officer. That is how we operate in the military,” Yushau stated.

Badeh…facing a celebrated trail

On whether the Nigerian Air Force account goes through annual auditing by the AuditorGeneral of the Federation (AGF) and that by being the DFA, he has a duty to justify every expenditure with appropriate document, the witness responded by stating that the CAS does not need to justify his request for any expenditure, adding that the fund was already earmarked for the office of the CAS. When Olujimi asked him if he was aware of the Financial Regulations Document for Public Service, he said yes, but that he did not ask Badeh to put into writing, the instruction in respects of the alleged properties. Interestingly, the witness had earlier testified not being a qualified accountant but he has worked with the accounts department for 25 years. Apparently, observing the twist and the level

As if the discrepancies already created by Yushau were not enough, when the second prosecution witness, Emmanuel Abu, a cashier with the Nigerian Air Force (NAF) Camp, Mogadishu Cantonment came to the court on May 11, he told the court during cross-examination by Olujimi that he just met A S Badeh for the first time on March 9, 2016 outside the courtroom. Like the first witness, he also told the court that his statement to the EFCC was made in error

of damage Yushau was doing to his earlier testimony and the case when the witness was asked a question pertaining to the statement he made to EFCC, the prosecution counsel requested that the witness be given his statement to go through in order to refresh his memory on the new line of questioning. The prosecution counsel objected, saying the original copies of the document the defence counsel was quoting was not in court and if the witness must be questioned on that statement he made to EFCC his memory must be refreshed by presenting him with such a statement. The argument was sustained by the trial Judge. He thereafter adjourned the matter to May 10, at the instance of the prosecuting counsel, to make available the original of the statement. At the resumption of hearing on 10th May 2016 ,Yushau maintained he had no single document in respect with his land transactions with the former CDS and further denied several statements he made earlier in his evidence in chief He also confirmed he owns the property in which he lives in at the moment in Abuja, a car-park and 2 other uncompleted buildings in Kaduna. He also confirmed owning two other houses in Kano. Yushau also confirmed he never received any written instructions to buy properties for the first defendant. Counsel to Badeh therefore told the court that Yushau was a tainted witness whose evidence serves a purpose. He said that the witness owns several properties marked by the EFCC and is still under investigation himself. According to Olujimi “ï am showing the character of the witness to the court. I am showing that he equally needs to be charged. He is liable to be charged with all the offences he mentioned. Since the witness is still under investigation by the EFCC it confirms that his testimonies are serving a purpose. When asked how long he had served the military, Yushau said 30 years. When asked what his monthly salary was, he answered slightly above N870, 000 monthly. He also told the court that he started receiving the said amount from 2011 when he became Air commodore. Olujimi pointed out to the court that the witness received approximately N10m annually from

2011. According to Olujimi, “Let us assume you were earning N10million annually from assumption of service till now, the total sum should be N300 million for your 30 years of service. The properties you admit to own, when put together are worth over N2billion” As if the discrepancies already created by Yushau were not enough, when the second prosecution witness, Emmanuel Abu, a cashier with the Nigerian Air Force (NAF) Camp, Mogadishu Cantonment came to the court on May 11, he told the court during cross-examination by Olujimi that he just met A S Badeh for the first time on March 9, 2016 outside the courtroom. Like the first witness, he also told the court that his statement to the EFCC was made in error. Abu, in his statement to the EFCC had claimed that he sourced the sum of $3.1million and gave it to Group Captain Mohammed Sinni after the sum of N76million was transferred to HAVCO Nigeria Limited from the N558million set aside monthly for the office of the CAS but in his evidence before the court, the witness said the sum of $2.9million was given to Group Captain Sinni, the Camp Finance Officer for the month of May, 2013. Cross examining Abu, Olujim asked: “In the course of your evidence you gave a list of dollars you gave to the CFO every month and for the month of May 2013, you said you gave $2.9million to Sinni whereas in your statement at the EFCC, you said $3.1million was sourced by you.” And the witness responded saying, “The statement with the EFCC was in error. I confirm that it was an error while writing the statement.” Also, when asked if there is any record showing that he gives money monthly to Sinni, the witness said no. “I have no records of what I gave to Sinni monthly because the CFO (Sinni) was a custodian of everything, I was only assisting him. “All payments made either by mandate or cash was signed by the CFO and myself but I received the dollars from the Bureau de Change (BDC) because I was the one interfacing with them.” When Olujinmi asked the witness if it would be correct to say that the only record that exists to show that the witness monthly disbursed dollar equivalents of N558m to Sinni were “only in his head”, the witness said yes. Likewise, when the witness was asked to corroborate the claim of the Director of Finance and Accounts, Yushau, who said the usually converted N558million was given to him first in October 2012, the witness said he did not know, adding that the first time he gave the N558million dollar equivalent to Sinni was in November 2012. He also told the court that he is not aware that the usual practice of setting aside N558million for the office of CAS was there before November 2012. “I wouldn’t know if someone gave Yushau the dollar equivalent of the N558million in October 2012,” he said. The witness, who said he was given a verbal instruction by Sanni in 2012 shortly after Sinni assumed the position of Camp Finance Officer (CFO) to set aside the sum of N558m monthly for training and operations, admitted that he never received any instruction from Badeh. He also admitted that Badeh never asked him to give him any money either in naira or dollars and that the embattled former CAS never instructed him to make any withdrawal or transfer to any person or company. At the end of the cross-examination by the defence counsel and the absence of further questions by the prosecution for re-examination, Justice Abang, adjourned hearing till next week, Wednesday, May 18, 2016. It is the more reason my many more people are following the case with hope to ascertain the veracity of the claims and counter-claims, particularly as Badeh himself has maintained that he is simply a victim of persecution.

T H I S D AY • WEDNESDAY, MAY 18, 2016

POLITICS&ISSUES

MIDWEEKPOLITICS

Infighting Tears Kwara PDP Apart After the just concluded congress of the Peoples Democratic Party in Kwara State the party has been factionalised, writes Hammed Shittu

he just concluded congress of the opposition, Peoples Democratic Party (PDP) in Kwara State has come and gone but the fallout of the congress will linger for some time because of the way it has polarised the party into two factions in the state. Before the ward, local and state congresses, some members of the party had maintained that the PDP in the state should be exempted from electing officials into affected levels in view of the fact that the present executive council has just spent two years in office, but the national leadership of the party ordered that congresses must take place in the state. With the development, the state chapter of the party put machinery in motion to conduct the congresses but at the end, it turned into crisis which eventually produced two factional groups in the Kwara PDP. The first faction being led by those tagged as “Hijackers” is led by Chief Iyiola Oyedepo while the second faction that comprises some members of the party that brand themselves as “Foundation” is led by Chief Sunday Fagbemi. Members of the Oyedepo group held their Oyedepo Fagbemi congress at Stella Obasanjo hall, along IlorinAjase-Ipo Road, Ilorin with two of the seven Abuja, Chief Niyi Oyeleye allegedly decided to Bekadims Hotel, Tanke area, Ilorin where members of National Panel Electoral Committee that all local government council areas in the a new accreditation was conducted and elecof the party from Abuja attending. The Fagbemi state with parallel congresses would not be tion was held with the presence of five out of seven panel committee that came from Abuja camp also held a parallel congress at Benkadims allowed to participate in the state congress. Trouble erupted following the announcement as to conduct the election. It was at that venue Hotel, Tanke area - along University of Ilorin elected delegates from the four local government that the Fagbemi-led executive emerged and road, Ilorin on the same day. Reports from the 16 local government coun- councils namely; Ilorin East, Ilorin South, Asa, they were subsequently sworn-in into office. On the other hand, the Oyedepo camp remained cils of the state on the conduct of the ward Ilorin West that made Kwara Central senatorial congresses indicated that they were hijacked and one local government from Kwara North at the Stella Obasanjo Hall where they held by factional groups and thereby denying district, Moro local government council, were not the election and its executive council members members of other groups from having access allowed to be accredited over alleged conduct were returned unopposed. In his acceptance speech, the chairman, Oyedepo to the party nomination forms meant for the of parallel congresses in the affected councils. various positions in the ward level and this But aside affected local government councils extended hands of fellowship to all members was said to have caused a lot of acrimony mentioned, three other councils like Offa, Isin of the party to move the party forward. “We need each other. I am ready to work and Ekiti had their delegates accredited in among members of the party. with everybody in order to bid the ruling All THISDAY investigation revealed that, the violation of the agreed resolution. It was further gathered that during the ac- Progressives Congress (APC) farewell from the strategy of denying members nomination forms at the ward level was perpetuated in creditation, the authentic lists from the councils Government House in 2019”, he said, adding order to impose certain individuals as ward were said to have been doctored to favour one that “A brand new PDP to be known throughout executives, even where they don’t have the of the groups at the expense of the other group. the country has been born with the renewal of The development led to the elimination of the mandate of the new executive members.” support of majority of members. Other officers returned unopposed were; The story was not different at the local govern- over 50 per cent of the delegates and all efforts ment congress of the party as nomination forms made by the aspirants to address the matter Deputy chairman, Abdulkadiri Atahiru; Secretary, meant for contestants of various local government was not accepted by the panel committee and Abdulwaheed Yusuf; Publicity Secretary, Chief executives were hijacked by powerful leaders this also caused a lot of chaos at the venue Rex Olawoye; Assistant Publicity Secretary, Femi of the party and this led to disharmony and of the congress. It took the quick intervention Yusuf and the Women Leader, Hajia Tundun Babatunde-Alanamu while the three Senatorial also conduct of parallel congresses in some of the security agencies to restore normalcy. Alleging haphazard conduct of the election, Vice Chairmen were Chief Gbenle Adeyemi, local government councils. The national panel electoral committee of Fagbemi complained to the panel members Chief Sunday Oyebiyi and Alhaji Mustapha the party from Abuja, according to sources, and the chairman, alleging shoddy misconduct Salman for South, North and Central senatorial was said not to have helped the matter as of the whole exercise and advised the panel districts respectively. The Treasurer, Alhaji Adebayo Ahmed; the result sheets were given to the power that committee to look into the development but Organising Secretary, Alhaji Bolaji Jimoh; be in the party so as to allow their favoured that was to no avail. It was at that point that some aggrieved Financial Secretary, Rasaki Alabi; Legal Adviser, candidates to be filled and signed before the real congress and this also caused acrimony members called out their delegates and moved Otman Abubakar; Auditor, Sunday Ibitoye and Mrs. Dorcas Afeniforo and Mr. Idris Jamiu in the party. and Babatunde Jonathn, who are ex-officio Party chairmen at the local government level members were also returned. simply filled the names of those they feel would Meanwhile, the Fagbemi group, in a press work with them during the state congress of the conference to counter the purported election party so as to ensure the return their favoured of Oyedepo, described his election and his state executive council members. executive council members as illegal and that The event that led to the parallel state conthey should stop parading themselves as the gresses happened on Tuesday, May 10, 2016, leaders of the party in the state. when the intrigues that have been characterizing Fagbemi said: “Out of seven panel members the past congresses of the party over who will that came to conduct the state congress of the lead the party snowballed into full crisis during PDP in Kwara, five members endorsed my the state congress of the party scheduled to By and large, with this election while two endorsed that of Chief hold at Stella Obasanjo Hall, Ilorin. crisis of leadership in the Oyedepo”. On that day, as early as 8am, delegates from During a press conference in Ilorin last all the 16 local government councils were at the PDP in the state, the desire Thursday, Fagbemi said his leadership of the venue to get accredited for the congress and of the party to provide an party was poised to move the party forward armed policemen, state security service men and men of the State Civil Defence Corps were alternative platform for the so as to help the party control the governance of Kwara, come 2019 general elections. at the venue of the congress to maintain law people of the state in the According to him, “I am a legally elected and order but the congress was unacceptable next general election in the chairman of PDP in Kwara State because the to many of the members. processes that produced me and other members There and then, about 10 suspected gun men state may be a mirage as it of the state executive council was free and fair who were in police uniform were arrested. may not be easy for them devoid any imposition” They claimed to have come from Offa in Offa He denied stepping down for Oyedepo, local government council of the state to lend to correct the abysmal insisting that the congress that produced him support for the emergence of a particular electoral performances was credible as it was conducted by five out candidate as one of the officials of the party. that greeted their outings of the seven electoral officers sent to the state During the accreditation of delegates for the congress, the chairman of the panel from in the last general elections from Abuja.

Relating why his leadership became exigent, he said the other congress that produced the Oyedepo faction was illegal, noting that “The panel chairman illegally gave result sheets of the LGA congresses to the then incumbent chairman, Iyiola Oyedepo, who in turn distributed same to the local government party chairman who filled the forms at their discretion and it became clear that the result of the state congress was pre-determined,” he stressed. Fagbemi, who was flanked by the pioneer former chairman of PDP in the state, Mr. Kunle Sulyman, former National Assembly Special Adviser to former president, Dr. Goodluck Jonthan, Senator Suleiman Ajadi and Senator Ayinla Folorunso, further pointed out that “As night was drawing closer, the security situation became precarious, sporadic gun fire were heard outside the premises of the venue and the police was having difficult time containing the situation. “At this point, I, Sunday Fagbemi, a contestant for the post of the state chairman approached the panel chairman in the presence of other panel members and the already accredited delegates seated in the hall and complained bitterly about irregularities and bad conduct of the process. Indeed, some of the panel members were not happy with the conduct of the panel chairman and the secretary,” he claimed. He said the decision to move to another location was taken in consultation with stakeholders, elders and panel members. “We decided to move to another location for the congress. We therefore moved to Bekandims Hotel along University of Ilorin road, Tanke, to hold our congress. “The congress was peaceful and orderly. It was supervised by five of the seven panel members. The evidence is there for all to see. Out of the seven panel members only two signed the purported fake congress while the majority five endorsed our congress.” He promised to be fair and upright. He also assured the people that he would not waste the mandate given to him and that he will take the party to greater height. Other members of the state executive council in the Fagbemi-led group include; Alhaji Isiaka Alao, (Secretary); Alhaji Muhammed Sanni (vice chairman); Alhaji Saka Ajao (Assistant Secretary, Central); Alhaji Sulaiman Abubakar (Assistant Secretary, North); Mr. Agboola Adewumi (Assistant Secretary, South); Mr. Gabriel Olatunji (Treasurer); Mr. Abdulrasaq Amode (Assistant Treasurer), Mr. Moses Ibiyemi (Legal Adviser); Mr. Salaudeem Giwa (Asstistant Legal Adviser); Mr. Anthony Idowu (Financial Secretary); Mr. Adamu Usman(Assistant Financial Secretary); Alhaji Ganiyu Alawo (Publicity Secretary); Mr. Lanre Jolayemi (Assistant Publicity Secretary) and Alhaji Mukaila Kamal (Auditor). Others are; Mr. Kamarudeen Olatunde(Assistant Auditor); Alhaji Abubakar Kangi (Organising Secretary); Mr. Afeez Alonge (Assistant Organising Secretary, Central); Mr. Ebun Oyeleye (Assistant Organising Secretary, South) Mr. Emmanuel Sule(Assistant Organising Secretary, North); Alhaja Fatimah Gegele (Woman Leader); Alhaji Haliru Muhammed (Youth Leader); Mr. Olu Abogunrin (Vice Chairman, South); Alhaji Atanda Alaya (Vice Chairman, Central); Alhaji Duba Leramo(Vice Chairman, North); Mr. Dele Popoola (ex-officio); Alhaja Muinat Ibrahim (ex-officio); Mr. Rasidi Sogo (ex-officio); Mr. Ajadi Alakara(ex-officio); and Alhaja Fatimoh Audu (ex-officio). By and large, with this crisis of leadership in the PDP in the state, the desire of the party to provide an alternative platform for the people of the state in the next general election in the state may be a mirage as it may not be easy for them to correct the abysmal electoral performances that greeted their outings in the last general elections. The only way out for the leadership tussle is definitely for the warring factions to close ranks and bring their differences before a round table discussion so as to enable them resolve them ahead of future election and Kwarans are waiting to see if this will ever happen.

T H I S D AY • WEDNESDAY, MAY 18, 2016

POLITICS&ISSUES

MIDWEEKPOLITICS

Congress Deepens Crisis in Osun PDP The emergence of a former member of the Osun State House of Assembly, Hon. Adesoji Adagunodo as the chairman of the Peoples Democratic Party in the state has caused divisions in the party, writes Yinka Kolawole

Adagunodo…leaving the congress behind him

ust last week, the Osun State chapter of the Peoples Democratic Party (PDP) held its state congress to elect officials of the party and a former member of the state House of Assembly, Hon. Adesoji Adagunodo, emerged as the party chairman. But at the congress held at the Osogbo Sports Stadium, which was supervised by a committee from the national secretariat of the party led by retired Justice Emmanuel Dodo and officials of the Independent National Electoral Commission (INEC), some stalwarts of the party believed to be loyal to Senator Iyiola Omisore were conspicuously absent. Some of the notable absentees at the congress were the past Minister of Police Affairs, Alhaji Jelili Adesiyan; the outgoing Osun Central PDP senatorial leader, Rev. Bunmi Jenyo and the chairmanship candidate of the group, Dr. Bayo Faforiji. The Congress was however witnessed by the PDP National Secretary, Prof. Wale Oladipo, member of BoT of the party, Alhaji Shuaib Oyedokun, Erelu Olusola Obada, Senator Kola Ogunwale, Senator Akinlabi Olasunkanmi, Senator Olu Alabi, Sunday Fajimi and others. Elected at the congress were; Prince Bola Ajao (Secretary); Chief Sunday Atidade (Vice chairman) and Mr. Sunday Bisi (Publicity Secretary). When reacting to the election that threw up Adagunodo as the chairman of the party at the state party secretariat located along OsogboGbongan road, the chairmanship candidate of the Omisore group, Dr. Faforiji, described the congress as a “charade”. He alleged that the committee from the national secretariat was hijacked by Prof. Oladipo and repeated the same mistake that led to the cancellation of the previous congress by preventing his loyalists from getting forms to contest for positions. According to him, there was a court injunction that restrained the committee set up for the congress from working with the Gani Ola Oluwa-led state executive which he said was ignored. Faforiji, who claimed that his group con-

Faforiji…still hoping to thwart the congress

verged on the state secretariat to protest the “injustice” being meted to them, said the three senatorial leaders of the party were not part of the congress.The contention among some people in the PDP is that the party defied court order by electing the new party chairman in Osun despite the court order restraining the party from conducting congress in Osun State. While the pro-congress members of the party were holding the congress at the City Stadium, Osogbo, several aggrieved members

Reacting to the election that threw up Adagunodo as the chairman of the party at the state party secretariat located along Osogbo-Gbongan road, the chairmanship candidate of the Omisore group, Dr. Faforiji, described the congress as a ‘charade’. He alleged that the committee from the national secretariat was hijacked by Prof. Oladipo and repeated the same mistake that led to the cancellation of the previous congress by preventing his loyalists from getting forms to contest for positions

of the party with Faforiji, gathered at the state secretariat to protest against the conduct of the congress. Faforiji described the congress as “illegal”, insisting that it will not stand “Because they are many does not mean they are doing the right thing; our party is not a dictatorial party. They are only repeating the same mistake they made last week”. Meanwhile, Adagunodo said his leadership of the party is prepared to carry every member of the party along in order to assist in the development of the party. He expressed optimism that working with other members of the party, his executive is capable of ushering in a PDP governor in the next election, saying that he would need the members to rally support for all the newly elected officers in the party for them to deliver at all time. Adaguodo stressed that he cannot do it alone, but rather, he would want all members to give maximum support for his administration. According to him, his primary ambition is to take over the mantle of governance from the “people from Lagos,” by which state resources would not be taken to Lagos again. But as reactions continue to trail the purported congress, a cross section of party stalwarts, who considered the congress as day light coup, have rejected the outcome. The spokesperson of the group, Hon. Bade Falade, who addressed a press conference in the evening of the congress in Osogbo, condemned the congresses which they said was stage-managed and unacceptable to them. Falade argued that those in the Faforiji camp, supporting his chairmanship ambition in the party were not represented in the exercise. They therefore referred to it as “charade.” The party chieftain maintained that it would not stand the test of time because it is the committed party members that are against its conduct. He therefore appealed to the leadership of the party to disregard the exercise as it was conducted in “an unholy manner.” The sharp division in the party led to the cancellation of the ward, local and state of the Osun State PDP. The congresses were trailed

by protest by Faforiji and his supporters who enjoy Omisore’s support. Following the vehement protest, the national leadership of the party set a new panel set up for the conduct of fresh congresses and new congresses were conducted in the state. The 10-man panel led by a retired Customary Court judge, Emmanuel Dodo Audu, fixed ward congress for and local government congresses penultimate Thursday and it was re-conducted. Faforiji had protested non-availability of forms for the conduct of the congresses, claiming that all his supporters were denied the forms and charged the national leadership of the party to cancel the exercise. It was in response to his call that the committee arrived the state at the during the early hours of last week Tuesday and distributed forms and other relevant materials that could aid the success of the exercise to local government electoral officers from the 30 local governments of the state after fulfilling all the regulations of the party. After the distribution of the items, the committee chairman, while addressing journalists, charged those saddled with the conduct of the exercise to always put on the toga of virtue and have the fear of God in their hearts while performing their duties. He warned them against any anti-democratic acts that could truncate the exercise, saying there must be no alteration in their forms after the exercise. THISDAY gathered that the conducts of the congress in some local governments like Osogbo, Olorunda, Ifelodun, Boripe and Boluwaduro were devoid of rancor. The exercise in these councils went orderly and party members conducted themselves peacefully. One of the newly elected Chairman in ward 05, Ataoja ‘E’ in Osogbo local government, Mr. Taofik Jimoh, said the panel set up for the exercises were “organised ambassadors of the national body of the party.” To underscore that the battle line has been drawn, last Monday, the new state executive council of the party in the state was inaugurated. They also got a new secretariat. They have abandoned the old secretariat provided for the party by Omisore.

T H I S D AY â&#x20AC;˘ WEDNESDAY, MAY 18, 2016

FEATURES

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

Finland, a Country of Libraries The Finnish education system is said to be one of the best in the world. Trying to discover the secret behind the rating reveals a library system that has unconditionally made reading a pleasurable culture to the Finnish. Peace Obi reports

Library users selecting materials for use

very country of the world is known for one or two distinctive features that distinguishes it from another and in most cases such features become the descriptive identity of such a country or people. And for a country like Finland, education has become its descriptive identity. Finland has been adjudged as having the best education system as well as a country that would secure the welfare of its citizens from cradle to grave. In what seems like a conscious effort to harness its citizens' talents through education ( both formal and informal) is the deliberate and continuous effort in building and sustaining a knowledge-based society with library facilities and services that meet the diverse needs of the people. And among the surrounding Scandinavia countries, Finland has over the years maintained its commitment and devotion to making the country an education haven where libraries are among the most popular public service. And with the establishment of its first libraryRikhardinkatu Library in the city of Helsinki in 1882 with the guiding thought that everybody should have equal possibilities to get information, to read and to develop themselves, the Finnish people have continued to read themselves into global relevance. The education cum knowledge-driven environment has among other activities that announced and printed its name on the sand of time is the development of ICT solutions like the discovery and production of Nokia mobile handset, award-winning architectural designs by Finnish-trained architects and engineers, as well as being the home to Tove Jansson, the author of the much loved Moomin children books, among others. These and more have made Finland a country to reckon with as one of the global leaders of this present age. Thus, the reality of the saying that readers are leaders is better experienced than imagined. And for Finland, when the opportunity came calling for this reporter to put this saying to test was during the just concluded UNESCO World Press Freedom Day in the capital city of Finland, Helsinki. As part of the programmes organised by the hosting country's Ministry of Foreign Affairs for participating journalists, was a visit to the Helsinki City Library (Rikhardinkatu

satu haavisto

Library). The visit to the ancient architectural design that betrays its age, despite being built since three centuries ago, can easily be taken for a 21th century architectural design as it dazzles with so much modern outlook. Described as the first purpose-built library in the Nordic region and among the finest examples of Renaissance Revival, Rikhardinkatu Library is an architectural experience in itself and one of the oldest cultural buildings that is still in use in the city of Helsinki. With an appealing and serene environment for reading, it attracts library users of different ages and purposes and would likely make an unintending reader to settle down with one book or an audio material.

A book shelve at the Rikhardinkatu Library, Helsinki, Finland

the time, Theodor Hoijer, had remained the main library until 1986. Stating that library operations in the country are guided by the Act of parliament, Roisko said that the first Act on public libraries in the country was enacted in 1928 and the Library Act currently effective is the third in the order, that is the one of 1998. "Public libraries in Finland are a service guaranteed by law and the Ministry of Education and Culture outlines the library policyâ&#x20AC;?, she explained.

A brief History of Rikhardinkatu Library Addressing the visiting journalists and giving a brief history of the Rikhardinkatu Library, the Chief Librarian, Helsinki City Library, Ms. Heli Roisko said, "This library was built in 1881 and opened to the public in 1882. It is the first building that was designed and built to be a public library in Finland, and actually in the whole Scandinavia. Most of the funds for building this library came from fundraising." According to Roisko, the library which was designed by a famous architect at

Purpose-Driven, Defined And Supported With A Policy Statement Sharing the guiding principles behind Finnish Library Network, Roisko said, "The guiding principles in public libraries, is to offer free access to cultural and information sources for everyone irrespective of their places of residence and financial standing. The use of library collections at the library and borrowing are free of charge." Set up to meet the library and information services needs of the people, it is also expected to promote, equal access to education and culture, reading and art appreciation, constant development of knowledge, skills and citizenship skills, as well as internationalisation and lifelong learning.

In what seems like a conscious effort to harness its citizens' talents through education (both formal and informal) is the deliberate and continuous effort in building and sustaining a knowledge-based society with library facilities and services that meet the diverse needs of the people

A Comprehensive Library Network Describing libraries as among the most popular public service that continues to witness improvement from time to time, the Chief Librarian said that three major library systems make up the Finnish library network - municipal public libraries, research libraries and school libraries. Stressing that every Finnish municipality has a public library, adding that most of them have branch libraries and bookmobiles. "There are 18 municipal libraries that also operate as provincial libraries, they provide information and interlibrary services in their regions." Speaking on the operations of the libraries, the Chief Librarian said that both public and research library are open to all. "Municipal public libraries, research libraries and school libraries form the Finnish library network. Research libraries, comprising university, polytechnic and special libraries, serve higher education, learning and research. Students use public and research libraries side by side,â&#x20AC;? she explained.

Buttressing on a unique library network called "Helmet", Roisko explained that Helmet is a library network that covers all the public libraries in the Helsinki capital region, comprising cities of Helsinki, Espoo, Kauniainen and Vanta, and that part of its services includes joint services of the helmet libraries as well as kid's catalogue. Presenting the statistics of the helmet library network as at 2014, Roisko said that it has over 3.4 million items, 64 libraries, six bookmobiles, over 17 million loans per year and over 22 million visits were recorded. Diverse, Yet Inclusive in Service Delivery The library needs of every class of persons in the country are planned for, included and met in the Finnish library services. Thus location, age or disability is never a factor to hinder an average Finnish from having access to library materials when needed. Such library services as home services which are intended for people who are not able to visit the library themselves for reasons such as age, illness or disability is in addition to special library facilities for people with special needs. The inclusiveness of the Finnish library system ensures that the blind and visually impaired persons, deaf and elderly people with visual impairments are not left out. It is said that the library also provides its services free of charge to this class of persons as it prepares Braille and talking books for the library and for visually impaired schoolchildren and students. "In addition to municipal libraries, there is a network of regional central libraries and university and other academic libraries, together with a handful of special libraries, such as a library for the visually impaired that is maintained by the state. The libraries are inter-networked. This means that the services offered by all libraries are available for everyone living in Finland through inter-library loans. The aim is to place library services within the reach of all, regardless of age, domicile or state of health." Library Use Starts From the Cradle In what looks like teaching a child the way to go with the hope that as he/she grows, right attitude would have been inculcated, learning taking place and that he/she would

T H I S D AY â&#x20AC;˘ WEDNESDAY, MAY 18, 2016

FEATURES

A library bus

Another library bus

not possibly depart from it; Finnish children are taught how to make use of libraries before they are old enough to go to school. This skill is said to be an asset in the pursuit of lifelong learning among Finnish citizens. "We have a very active childrenâ&#x20AC;&#x2122;s and youth department here in Rikhardinkatu library. They have a lot of cooperation with local daycare centres and schools. Activities include storytelling hours, book tips for children and youth and also exhibitions for children and youth. "The libraries also offer a lot of activities in Swedish language - classes visit our library regularly or librarians visit schools. This co-operation takes place mostly with lower elementary school classes, but also with upper elementary school classes and some high school classes. We give tips for reading, teach the students library use and information retrieval. Building and Sustaining a Literary Society Attributing part of the country's success in its education system, and the subsequent ranking as the world's most literate country it currently enjoys to a good and comprehensive library network, Roisko said that the comprehensive school network and a good library institution have guaranteed a lifelong opportunity for all to develop themselves, which has been an essential element for success in an international comparison. Stressing that the network of libraries in Finland have long played a key role in public education and in protecting and preserving the national culture and languages, Roisko said it is a fact that decision makers and citizens have long realised. "Finnish children succeeded especially well in a PISA basic education study. The comprehensiveness, diversity and quality of Finnish library network complement its formal school education. A feasible network of public libraries, which supports the development of children and youth with a diverse collection, has taken priority in Finland. The cooperation between municipal libraries and schools is extensive and is being developed with different pilot and development projects." Sharing some of the milestones attained and pointing out that 2015 statistics was not out yet, gave the basic statistics from Finnish public libraries in 2014 as thus, "765 public libraries, 142 mobile libraries and a total loan of 91 million per year." Funding As the national administrative authority for library and information services, the government of Finland through its Ministry of Education and Culture finances the libraries and it as well allots discretionary subsidies to libraries for special tasks like Multilingual Library, Saami

The library needs of every class of persons in the country are planned for, included and met in the Finnish library services. Thus location, age or disability is never a factor to hinder an average Finnish from having access to library materials when needed

A librarian reading to some children

Library, Co-Nordic mobile services and different projects like development of information network. Hinting that government's consistency in the funding of library in the country has shaped the people's love for library, Roisko noted that even though times and materials have changed in the libraries, the people's love towards the central cultural institution has remained unchanged. And that the Finnish respect and treat the libraries as a collective property. Current, Present and Future in Helsinki Public Libraries Speaking on what is presently and generally

satu haavisto

obtainable in Finnish library in 2016, Roisko hinted that the Finnish library system is waiting for a new library Act due in 2017, that there is availability of self service in addition to the library network. More and better access to e-books and other electronic materials and that in its inclusive nature, the Finnish library system has also developed services for immigrants and people seeking asylum. And for the year 2017, the Chief Librarian disclosed that generally, they are working towards sustaining the Finnish libraries as places that are full of new ideas. And within the Helmet Library Network, that it hopes to add 37 libraries and two bookmobiles

to what it already has; record an increased loan figure of nine million loans per year and additional 6.5 million visits per year. According to her, "By sharing information, knowledge and stories, we are creating a new civil society together." Announcing enthusiastically, the Chief Librarian said that in 2018, the country would witness the opening of another library in the city of Helsinki, called 'Helsinki Central Library'. According to her, the project which is nearing completion and sited in a non-commercial area of the Helsinki City would be opened in 2018. In her view, it is fair to say that the Finns love libraries.

IMAGES

L-R: Executive Director, Corporate and Transactional Banking, Stanbic IBTC Bank, Ms Yewande Sadiku; Chief Executive Officer, Nigerian Stock Exchange, Mr Oscar Onyema; and Deputy Chief Executive, Stanbic IBTC Bank, Dr Demola Sogunle, at the third edition of NSE Corporate Challenge Race co-sponsored by Stanbic IBTC, in Lagos...recently

L-R: Executive Director, Healthcare Magazine, Dr. Ayo Olatunde; Founder/Chairman of Healthcare Group, Dr. Bola Olaosebikan Healthcare Marketing Director, United Kingdom (UK), Mr. Henry Okunbolade, at a press conference on the 30th anniversary of the Magazine in Lagos..recently: dan ukana

L-R: Director, Information Technology and Mobile, Mr. Emmanouil Revmatas; Head, Product Marketing, Information Technology and Mobile, Ms. Olajumoke Okikiolu both of Samsung Electronics West Africa; Photographer, Kelechi Amadi-Obi, and, Samsung Ambassador, Banky W at a Culinary Art and Photography Exhibition sponsored by Samsung in Lagos...recently

T H I S D AY • WEDNESDAY, MAY 18., 2016

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

L-R : Specialist, Youth Segment, Etisalat Nigeria, Michael Nwoseh;Musical Artist, Enetimi Alfred Odon (Timaya), and Head, Youth Segment, Etisalat, Olayiwola Onafowokan, during Cliqfest campus activation of the University of Nigeria, Nsukka, in Enugu State.. recently

L-R: Head, Pharma Sales/Marketing, Mr. Chikwuka Chukutem; Head, Corporate Marketing, Mr. Eugine Olewuenyi and Finance Controller, Mr. Ayodeji Aboderin, all of May & Baker Nigeria Plc, during the presentation of the Award for High Quality and Safety in Pharmaceuticals to May & Baker Nigeria Plc, at the 2016 Commerce and Industry Awards organized by LCCI in Lagos…recently

L-R; Community Relations Consultant, Friday Okojie; Site Director, Benin, Kingsley Imade; Crown Prince of Benin Kingdom and the Edaiken ‘n Uselu, His Royal Highness, Ambassador Eheneden Erediauwa; Chairman, Board of Directors, Guinness Nigeria Plc, Babatunde Savage and Corporate Relations Director, Sesan Sobowale during a condolence visit to the Crown Prince on the passing on of Oba Erediauwa in Benin... recently

L-R: Moderator, Nutrition Workshop, Seun Olaniyan; Manager, SUN Business Network, Zambia, Raphael Siwiti; Director, Sahel Capital, Ndidi Nwuneli; Chairman Dansa Foods, Sani Dangote; Head, Sustainability OlamCocoa Nigeria, Jennifer Abuah and R & D Specialist, Unilever Nigeria, Godwin Bamsa, at a workshop on Nutrition for Business Growth in Lagos...recently

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD NIBOR PRIME 1-MONTH

R A T E S

A S

LOAN

4.4583% 9.1071%

3-MONTH 3-MONTH

11.0102% 12.3790%

NITTY 1-MONTH 2-MONTH 3-MONTH

A T

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

M A Y 1 3 , 6.9949% 7.2368% 8.0819%

1-MONTH 9-MONTH 12-MONTH

2 0 1 6

9.2061% 9.5872% 10.5042%

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

Quick Takes NSE Promotes Cancer Awareness

Hundreds of individuals, corporates and celebrities hit the street of Lagos last Saturday to run against cancer in the 3rd edition of the NSE Corporate Challenge tagged “e-Race Cancer”, organised by the Nigerian Stock Exchange (NSE), in conjunction with the Committee Encouraging Corporate Philanthropy (CECP). The race is designed to raise awareness and funds for the purchase of 37 Mobile Cancer Centres (MCCs). Over 600 runners from 100 companies participated in the race that saw Paul Alabi from Aluko & Oyebode emerge the overall winner of this edition. Anolue Uzochukwu from Cutix Plc and Austin Ani from Stanbic IBTC came second and third respectively. Esther Obiekwe from Diamond Bank emerge the fastest female while Rene Gabriel from Nigerian Breweries came first in the senior citizen category. Speaking at the event, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “at the NSE we are determined to increase cancer survival rates in Nigeria by delivering MCCs to provide free screening and treatment across Nigeria. For this reason we came up with the NSE Corporate Challenge to support those who are affected by cancer. It is heartening to see so many people step up to help those afflicted with cancer.

Parkway Introduces Payment Apps

BRAINSTORMING ON INSURANCE MARKET

L-R: A former Commissioner for Insurance, Mr. Fola Daniel; former Chairman of Niger Insurance Plc, Mr. Bala Zakariyau; Director General, Activa Finances, Mr. Steve Kyerematen; Chairman of Niger Insurance, Mr. Yusuf Abubakar and Managing Director of Custodian & Allied Insurance, Mr. Wole Oshin at the opening ceremony of Africa Insurance Organisation in Marrakech, Morocco… recently

Falling Prices, Fear of Value Erosion Discourage New Listings Goddy Egene The persistent bearish trend that has depressed the share prices of most stocks is discouraging new companies from listing on the Nigerian Stock Exchange (NSE), THISDAY checks have revealed. While the Nigerian Stock Exchange (NSE) has made several efforts to increase the number of new listings, many of the companies are reluctant to list their shares. Market sources said two major reasons companies are reluctant to list despite

CAPITAL MARKET the many benefits derivable are the poor persistent slide in prices and the possible erosion of value as experienced by two companies that were listed two years ago. “The management of the NSE has brought innovations to the market capable of attracting new listings. But many of them are afraid of value erosion after listing given the current bearish trend. The situation is worsened by the rate at which the shares of Seplat Petroleum Development

Company Plc and Caverton Offshore Services Group Plc that were listed two years ago fell,” a senior market operator said. The stockbroker, who confirmed that his firm has companies that are willing to list, noted that the major obstacle is fear of losing the value of their investments after listing. Seplat and Caverton were listed on the NSE on April 14 and May 20, 2014 respectively. Seplat was listed at N576 per share while Caverton listed at N9.50.

Two years after, value of the shares has fallen significantly. Specifically, Seplat has declined by 39 per cent, having depreciated from the listing price of N576 to N350 as at Monday. Caverton has suffered a value erosion of 83 per cent as the shares fell from the listing price of N9.50 to close at N1.65 on Monday. Apart from the general bearish trend in the market, the two companies recorded lower profits both for the 2015 full year and first quarter of 2016 due to Continued on page 24

New Fuel Price: Source of Forex for Oil Marketers Worries Analysts Obinna Chima Financial market analysts have expressed concern over the directive that oil marketers should source United States dollars for the importation of refined petroleum products from either the interbank or parallel markets of the foreign exchange market. The federal government last week introduced a new fuel price regime stating that the product would now sell for not more than N145 a litre. To this end, the Petroleum Products Pricing Regulatory Agency (PPPRA) released a revised pricing template for petrol and pegged the rate at N298 to the dollar to limit the challenges associated with sourcing and accessing forex for the importation of petrol by oil marketers.

ECONOMY But analysts at CSL Stockbrokers Limited stated that they struggle to see how the new forex rate will work for petrol importers, given the widening margin between parallel market rates and N285/US$. Allowing the oil marketers to source forex independently has led to surge in demand on the parallel market as rates, which hovered around N320/US$ prior to the new pump price have gone up by about 10 per cent to between N350-N360 to a dollar. “We do not know the depth of the parallel market (which petrol importers will be forced to access), but we do not believe it is large enough to meet the daily forex demand fuel imports. What we do

believe, however, is that this development will continue to put depreciatory pressure on parallel market rates, barring a devaluation of the official exchange rate or some sort of relaxation of the tight forex situation,” they added. On their part, analysts at Afrinvest West Africa Limited noted that are limitations to the policy shifts. According to them, introduction of a price cap implies PPPRA still regulates pricing, thus speculative practices cannot be avoided close to seasonal adjustment dates of the pricing template. Also, they stated that since domestic prices reflect impacts of exchange rate and crude oil price movements, fixed landing cost and distribution margin set in the current pricing template may be

inadequate to ensure stable margin for industry players, thus constituting a business risk for marketers. “The Minister of Petroleum did mention that the pricing guideline is at initial stage of the deregulation process and ultimately allow market dynamics to set in. We believe that the ultimate conclusion of the reform and pricing dynamics (exchange rate and crude oil prices) ought to be left for market forces to determine. “More importantly, policy inflexibility of forex market still constitutes a burden to importers and tacit approval granted to marketers to source FX at secondary markets could pressure exchange rate further at the parallel market. We Continued on page 24

Parkway Projects Limited, which was recently licensed as a Payment Solution Service Provider (PSSP), by the Central Bank of Nigeria (CBN) has launched Bank3D, a managed business banking solutions suite for large, mid-sized, small businesses and government agencies, their customers and bankers. The product allows for the monitoring business bank accounts across all Nigerian banks and making payments to vendors and employees from mobile, personal computers and tablets. It also enables the management of revenue collections with customised order forms to receive payments from customers or subscribers at bank branches, online, mobile, point of sales (POS), Automated Teller Machines(ATM) or direct debits.

LCCI Launches Solid Minerals Group

The Lagos Chamber of Commerce and Industry (LCCI), has inaugurated its newly-formed Mining and Solid Minerals Group. The inaugural meeting of the group which held at the LCCI Conference and Exhibition Centre Tuesday 17th of May, 2016, was borne out of the urgent need to diversify the economy and encourage investment in the sector. The President of the LCCI, Nike Akande said: “the major reason for the creation of the LCCI Mining and Solid Minerals Group is to give operators in the sector a viable platform to engage the government and exchange ideas on the growth and development of the sector.“The objectives of the group amongst others include: advocacy at every level to government and its relevant agencies, value-addition to members of the group and sustainable growth of the sector.”

UBA Brings FIPAC to Lagos

Over 30 major primary and secondary schools will be competing in a dance, music, theatre and drama performances today and May 26th in Lagos and Abuja respectively. The programme is sponsored by the United Bank for Africa Plc. The annual FCT Interschool Performing Arts Competition (FIPAC) is holding in Lagos for the first time and is aimed at promoting performing arts and extracurricular activities in Nigerian schools by bringing together both primary and secondary, public and private schools to showcase their talents. According to a statement, judges from renowned cultural organisations will select 12 winning schools in both cities. Renowned actor and theatrical star, Gideon Okeke is a guest judge. Winners will get up to N2, 000,000 in cash prizes, trophies and much more. The FIPAC 2016 event is set to be an unforgettable experience for the participating children. It is also set to create awareness on Nigeria’s unique cultural heritage that will surprise the audience that will be the attending the events in both Lagos and Abuja.

NNPC has continued to utilise crude oil volumes outside the 445,000 barrels per day, thereby creating major funding and remittance gaps into the Federation Account

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD FALLING PRICES, FEAR OF VALUE EROSION DISCOURAGE NEW LISTINGS challenges the oil and gas sector is passing through. As a survival strategy, Caverton is planning diversifying its operations outside the oil and gas industry and focus on cost reduction. Chief Executive Officer of Caverton, Mr. Bode Makanjuola said: “The slide in oil prices with the resultant reduction of activities by international and local oil and gas companies continue to impact the service sector of the industry. Part of our strategy to weather the current challenging business environment is to continue to focus on cost efficiency without compromising on our safety standards. The implementation of our strategy to increase service offerings is ongoing as we have commenced construction of the MRO and overhaul facility in Ikeja, Lagos. We will also continue to explore other innovative solutions in support of deep and shallow water operations in both marine and aviation business.” NEW FUEL PRICE: SOURCE OF FOREX FOR OIL MARKETERS WORRIES ANALYSTS think that the recent effort should be complimented with an exchange rate liberalisation policy,” they added. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the federal government would have had to cough up N16.4 billion every month to offset the subsidy claims of oil marketers had it not taken the decision to remove the subsidy on petrol. Kachikwu, in a series of tweets Sunday had explained that at the time the government made the decision, it was incurring about N13.7 kobo as subsidy on each litre of petrol bought by Nigerians. Kachikwu said at the rate of N13.7 kobo per litre as subsidy claims, the government would have paid out N16.4 billion to marketers monthly, adding that the government does not have such funds in its 2016 budget, more so now that the country’s earnings from crude oil have dropped.

Group Business Editor

Chika Amanze-Nwachuku

NEWS

‘DMO Should Monitor Projects Financed with Borrowed Funds’ Goddy Egene The House of Representatives’ Committee on Aids, Loans and Debt Management has advocated for more powers for the Debt Management Office (DMO), Nigeria. The House Committee said that the mandate of the DMO should be strengthened to include monitoring the implementation of all projects of government that is financed with borrowed funds. The Chairman of the House Committee on Aid, Loans and Debt Management, Honourable Adeyinka Ajayi, stated this alongside other members of the committee at a three-day retreat for member of the committee in Owerri, Imo State recently. According to a statement by the agency, Ajayi, noted that it has become imperative for the DMO to be empowered to monitor the implementation of all projects financed with borrowed funds. He argued that since it was the duty of the DMO to raise funds to finance budget deficit, “the body should as be saddled with the responsibility of monitoring implementation,” noting that this would ensure compliance, transparency and accountability. The committee hailed the

DMO management for coming up with the retreat, whose theme was: ‘Debt Sustainability and the Challenge of Financing Economic Recovery,’ saying that the retreat was timely, coming at a time the nation was facing some economic challenges.

Acknowledging the prevailing economic challenges, the House Committee chairman said the committee will work with the DMO to ensure effective implementation of the 2016 budget. Earlier in his presentation, the

Director-General of the DMO, Dr. Abraham Nwankwo, had restated government’s commitment to financing capital projects aimed at addressing Nigeria’s huge infrastructural deficit and repositioning the economy The DMO, boss who spoke

against the backdrop of the agency’s role in the implementation of the 2016 budget, said the nation’s long term debt financing of sustainable economic recovery and growth is feasible given its abundant ideal economic capacity.

CONGRATULATIONS

L-R: President, Lagos Chamber of Commerce and Industry (LCCI), Mrs. Nike Akande; Brazilian Consular-General to Nigeria, Mrs. Maria Auxiliadora Figueiredo; Acting Managing Director/CEO, Bank of Industry Limited, Mr. Waheed Olagunju and the Divisional Head, Large Enterprises, Mr. Joseph Babatunde at the 2016 LCCI Commerce and Industry Awards…recently

10,000 Benefit from Edo Govt N2bn Micro Credit Scheme Adibe Emenyonu in Benin City

The economy of Edo State has received a major boost as the State Governor, Comrade Adams Oshiomhole, has injected N2 billion into the economy through the presentation of cheques to 10,000 beneficiaries of the state micro, small and medium enterprise development fund (MSMEDF). Speaking during the presentation of the cheques to beneficiaries of the scheme in Benin City on Monday, Oshiomhole said: “The whole idea is to help you sustain or advance your businesses and your cooperative society. The 18 Local Government Areas and the 192 wards are well represented.” He enjoined the beneficiaries to use the funds judiciously for the purpose for which it was given, saying “It is our hope and

prayer that you use the money judiciously. It is meant not to improve the quality of soup today, but to lay a foundation that will lead to improvement in the quality of soup. So, the money mustn’t be diverted to catfish or grass cutter. “Our husbands must be properly briefed that this fund is meant to set up or sustain a business. Every kobo out of it must be judiciously used. That is the only way the intention of the State Government can be fulfilled, and the prayers of our President, President Muhammadu Buhari can be achieved to empower the Nigerian woman to be stronger and to contribute to economic growth and development.” He added: “What we are trying to do is to help you solve the problems that afflict a lot of small scale businesses, namely access to credit. I hope having made the fund available, you

will also use it strictly for the purpose for which it was meant. A journey of a million miles begins with one correct step. Let it be said that today, you made the first step, and hopefully in the very near future, you will get there.” To the micro-finance houses in partnership with the State Government on the scheme, Oshiomhole said: “You have been identified and chosen on the basis of your track record. I believe you that you don’t need to be told that you have no choice but to live up to the expectation of government as well as the promoters of the various small and micro credit businesses. “We have done it this way and eliminated the official government bureaucracy so that these funds can be managed professionally without any political coloration. I would like to urge you to do everything

you can to produce a win-win outcome and that we will have a basis to continue to do business with you. Speaking earlier, Chairman of Edo State Economic Team, Mr. Godwin Obaseki said the scheme was a grassroots empowerment initiative designed to provide access to funds for small business operators, “This event which we have titled ‘Grassroots Empowerment Initiative of the Edo State Government’ is a N2 billion naira fund which has been designed by the federal government in collaboration with Edo State Government to give micro, medium and small enterprises money for their businesses. This facility is to enable small and micro businesses be included in our financial system. The way this fund has been structured has been deliberate. We have gone round the 18 LGAs of Edo State, using the micro-finance banks

located in each local government.” According to him, “these funds have been made available to members of cooperatives who can borrow as much as N5 million for their cooperatives, for individuals who can borrow between N50,000 and N500,000; and also for medium businesses who can borrow up to N10 milliorking with all the micro-finance banks in Edo State, we screened over thirty thousand applications, and we are happy to announce that we have approved through the micro-finance banks over ten thousand applicants for this scheme. Of the ten thousand people who are qualified, 8,000 of them are women. The different businesses that are involved include petty trading, distribution business, agriculture and people who are processing agriculture.”

Maritime Editor

John Iwori

AgriBusiness/Industry Editor Comms/e-Business Editor

FG Urged to Invest in New Mobile Technologies

Capital Market Editor

Obinna Chima

Crusoe Osagie Emma Okonji

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)

The Commissioner for Finance Lagos State, Dr. Mustapha Abiodun Akinkunmi, has stressed the importance of increased investments in new mobile technologies, health care and education in order to achieve its economic drive. Speaking at the graduation ceremony of the class of 2016, American University, Adamawa recently, Akinkunmi also urged the government to equally invest

in exporting creativity, music, movies and the written word, including trade and industry rather than relying on oil. According to Akinkunmi, reliable power, security and a strong health system are essential for rapid growth, adding that human capital is the hope for the future of the Nigeria and Africa region. He further disclosed that Nigeria can leapfrog from manufacturing to servicing, “simply because the output from

manufacturing has increased and human resources for manufacturing have decrease due to automation.” He added: “Because I want you to see yourselves as the global future leaders, not just leaders of this country. Innovation and science have a key role to play in answering many of our biggest multilateral challenges. I must emphasise that technology does not just mean information and communication technology – it is medical, agricultural technology.”

According to him, innovations consistently emerge from academic institutions, and research faculties housed within academic institutions, adding as example, that the presence of Stanford is causal not consequential to the emergence of Silicon Valley in the United States. The vision for the north-eastern part of the country, according to Akinkunmi, should be to make it the Silicon Valley of Nigeria. The Lagos finance commissioner further stated that the

ambition is to “leverage off our human capital potential, and export ideas not just across borders – but across continents. We must participate in the global marketplace. “Many areas of experimental research, such as the development of new or improved products in the agricultural industry or renewable energy technology, or new sustainable processes in the extraction of natural resources, have global benefits.”

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

EQUITIES WATCH

AXA Mansard Charts Leadership Path The acquisition of a pension subsidiary and impressive results are pointers to AXA Mansard’s emergence as a leader in the insurance industry, writes Goddy Egene Investors’ patronage of the nation’s stock market is low due to the current economic challenges. The stock market has performed poorly in the past two years, posting negative returns. Despite many opportunities that abound in the market as a result of highly discounted value of most stocks, investors still stay away from the market. The insurance sector of the market is the worst hit as investors’ perception of insurance equities has remained negative. Following the poor financial performance of many of the insurance companies after the financial crisis of 2008 and 2009, demand for their stocks has remained low. Hence, most of the stocks are trading at par value of 50 kobo. Although many of the insurance companies have shown resilience and has so much potential to perform better and put smiles on the faces of investors, AXA Mansard Insurance Plc has stood out. The equity is the highest priced in the sector, trading above N2.00. Corporate profile The company was incorporated on 23 June 1989 as a private limited liability company called “Heritage Assurance Limited” and issued with a composite insurance license by the National Insurance Commission in March 2004. The company’s name was changed to Guaranty Trust Assurance Limited in September 2004 following the acquisition of a majority shareholding by Guaranty Trust Bank Plc. In November 2009, the company became listed on the Nigerian Stock Exchange (NSE). The beneficial ownership of the company changed to Societe Beaujon S.A.S (AXA S.A) in December 2014 by the acquisition of 100 per cent of Assure Africa Holding (AAH). The Company modified its name and corporate identity to AXA Mansard Insurance Plc in July 2015. The principal activity of AXA Mansard Insurance Plc is the provision of life and general business risk management solutions and financial services to corporate and retail customers in Nigeria. The company has two wholly owned subsidiaries namely AXA Mansard Investments Limited AXA Mansard Health Limited and two partly-owned subsidiary - APD Limited and AXA Mansard Pensions Limited, which was acquired last year. The AXA Mansard Insurance Board of Directors has Mr. Victor Osibodu as chairman. Mrs. Yetunde Ilori is chief executive officer, while Mr. Tosin Runsewe as chief client officer. Other directors are: Mr. Kunle Ahmed (executive); Mr. Olusola Adeeyo (independent); Mr. Frederic Flejou(non-executive); Mrs. Sahondra Ratovonarivo(non-executive); Mrs. Karima Silvent(non-executive); Mr. Lesley Ndlovu(nonexecutive); Mr. Tom Wilkinson(non-executive). Financial performance AXA Mansard posted improved bottom-line in 2015 and has also started 2016 on a positive note as well. The company recorded a net premium income of N9.905 billion, for the year ended December 31, 2015, showing an increase of nine per cent from N9.054 billion in 2014. Investment income grew by 28 per cent from N3.603 billion to N4.598 billion. Profit before tax (PBT) stood at N2.023 billion, while profit after tax (PAT) was N1.662 billion, compared with N2.015 billion and N1.537 billion respectively posted in 2014. The company’s shareholders’ funds grew from N15.204 billion in 2014 to N17.413 billion. As the economy remain under pressure and some companies post poor results, AXA Mansard Insurance consolidated on its 2015 positive performance in the first quarter of 2016. The insurance firm grew its net premium income to N2.758 billion, from N2.391 billion. PBT rose N512 million in 2015 to N751 million in 2016, while PAT stood at N700 million, indicating a growth of 44 per cent compared with N486 million in the corresponding period of 2015. Chairman’s comments Addressing the shareholders last week, Osibodu said in 2015, despite the economic headwinds, the company remained profitable and strongly

Speaking on the future prospects, Osibodu said the year 2016 will bring its own set of opportunities and challenges. “However, the macroeconomic outlook will be hinged on the implementation of the current administration’s expansionary budget, the shift from oil revenues to non-oil revenues, interest rates and inflation management, foreign exchange rates policy, possible removal of fuel subsidy, as well as policy reforms in power, oil & gas and transportation. The Board assures you of its continued commitment to the delivery of optimal returns whilst keeping the company a responsible corporate citizen of our great nation, Nigeria,” the chairman said. Improving channels In her remarks, the CEO, Ilori said the company’s risk pool is growing evidenced by the 14 per cent growth in insurance liabilities from N11.29 billion in 2014 to N12.92 billion in 2015. “We are improving our channels and distribution structure as we leverage our robust platform, group synergies and technical excellence to drive growth. We are well-positioned to continue delivering on our ambitions while focusing on the immense opportunities in the insurance industry. Our core strength remains our people and our customers. We will continually create channels that enable our people to offer the best to our customers,” she said.

Osibodu

positioned in its various business segments even as it expanded into new growth areas. He said even though gross premiums written declined by five per cent to N16.6 billion from N17.4 billion in 2014 as customers delayed investment decisions, the foundation we had laid in prior periods ensured we recorded nine per cent in growth in net premium income from N9.05 billion to N9.9 billion. “We also maintained our PBT at N2.02 billion,

same as 2014 while growing PAT eight to N1.7 billion from N1.5 billion in the previous year. We maintained a robust balance sheet growing total assets to N51.21 billion in 2015, a 14 per cent rise compared to N44.89 billion in 2014. Insurance liabilities were N12.92 billion in 2015 also rising by 14 per cent compared to N11.29 billion in 2015 while shareholders’ funds grew 15 per cent to N17.41 billion from N15.2 billion in the prior period,” he said.

AXA MANSARD INSURANCE 2015 FINANCIAL SUMMARY 60

DEC. 2015

N51.2bn

DEC. 2014

N44.8bn

45 40 35 30 25 20 15

DEC. 2015

N16.891bn DEC. 2014 N14.989bn

DEC. 2015

N17.413bn

DEC. 2014

N15.203bn

DEC. 2015

N2.023bn DEC. 2014 DEC. 2015 DEC. 2014 N2.015bn N1.662bn N1.533bn

5 0

GROSS PREMIUM EARNED

PROFIT BEFORE TAX

PROFIT AFTER TAX

SHAREHOLDERS’ FUNDS

TOTAL ASSETS

Driving change The chief client officer, Tosin Runsewe said in 2015 the company drove significant changes across its business as it laid the final blocks of the foundation for its collective envisioned future. “We integrated our business into that of our new parent company, upgraded our brand and finalised the addition of a pensions arm to our group. The upgrade of our brand in July 2015 from Mansard Insurance to AXA Mansard Insurance sign-posted our branding and positioning activities during the year. The global AXA brand that we now have is well-recognised among our current and prospective corporate clients while our heritage of customer service as Mansard Insurance Plc. has remained strong with our retail customers,” he said. He said the company’s efforts to build a strong financial institution did not go unnoticed as A.M. Best - the world leader in Insurance risk ratings, upgraded AXA Mansard’s risk ratings to B+ for financial strength and bbb- for issuer credit, which are the highest ratings awarded to any Nigerian insurer and the second highest in Sub-Saharan Africa. “In addition to the corporate recognition arising from our improved risk ratings, our commitment to the development of our employees as well as the strength and talent of our people was recognised through several awards and accolades. For the third consecutive time, AXA Mansard was adjudged a “Great Place to Work” in Nigeria by the Great Place to Work Institute. We also emerged winner in the category for “Promptness in Claims Settlement” in the insurance industry at the Lagos Chamber of Commerce & Industry (LCCI) Awards,” Runsewe said. He expressed confidence over the company’s strength to weather the stormy days ahead. “Our strategy for 2016 will be to continue to deliver best-in-class innovative services through convenient and innovative distribution channels. With the continuous improvement and upgrade of our processes and platforms, our customers can be assured of nothing short of best-in class, globally acceptable service delivery standards,” he said.Runsewe appreciated all our stakeholders for their unflinching support, which he said gave the company the courage to continue striving to achieve greater heights in all its chosen markets. “Whilst counting on your continuous support, we will forge ahead towards our goal of positioning your company as the clear leader in the non-bank financial services sector of the Nigeria economy,” he said.

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

ANALYSIS

Of the Exchange Rate and Devaluation Eromosele Abiodun examines the recent arguments for and against the naira devaluation and the solutions proffered by a former a Minister of Finance

President Buhari

Several economic theories posit that devaluation will most likely improve a nation’s trade balance. However, there are different schools of thought with divergent explanations of how devaluation improves or dampens a country’s economic fortune. Developing countries often face a major decision in reducing large trade deficits and in order to achieve this, they are faced with challenging policy decision of whether to devalue exchange rate or embark on internal/external debt financing. There are arguments whether a long-run relation exists between the trade balance and nominal effective exchange rate in Nigeria. Before independence, the Nigerian government adopted the Nigerian pound until 1973 when it was changed to naira. In 1971 the Nigerian authorities chose not to devalue its Nigerian pound during the devaluation process of the American dollar and this resulted in the appreciation of the Nigerian pound dollar exchange rate $2.80-$3.80 to the naira pound. In 1973 the naira replaced the Nigerian pound and then Nigeria devalued at the same rate with the United States (US) which caused the exchange rate to be $1.52. However, the year 1986 was a transformational year in the exchange rate policy of Nigeria due to the structural adjustment programme (SAP) that was put in place to address the structural imbalance in the economy in order to attain a structural transformation in the economy. By 1994, the federal government fixed the exchange rate at $22 to a US dollar, which implied a shift from the flexible regime of 1986. The foreign exchange market was liberalised in 1995 and it saw the introduction of autonomous foreign exchange market (AFEM) for sale of foreign exchange dedicated to this market by government as well as purchase of foreign exchange by the Central Bank of Nigeria (CBN) from the oil companies. An Inter-Bank foreign Exchange Market (IFEM) was introduced on October 25, 1999. The operation of the IFEM, however, experienced similar problems and setbacks as the AFEM. The CBN thus, re-introduced the Dutch Auction System (DAS) to replace the IFEM. The back and forth moves by the CBN continued until the 2008 global financial crisis. Luckily, Nigeria had enough foreign reserve and huge cash in the excess crude account, a development that helped in the stability of the exchange rate.

Finance Minister, Kemi Adeosun

Another oil crisis While Nigeria was still basking in the euphoria of oil trading at $100, another crisis erupted, following oversupply of crude oil. Suddenly, Nigeria’s crude oil-Bonny Light, which traded at $110.2 per barrel in January, last year, rose to $114.6 per barrel by June same year. Between the end of last year and February this year, it traded below $35 per barrel before the recent upsurge which took it to $45 per barrel. Before the recent crisis that has fuelled the devaluation debate, the naira was devalued in November 2014 during the Monetary Policy Committee (MPC) meeting. The midpoint of the official window of the foreign exchange market was moved from N155/$ to N168/dollar. The committee also widened the band around the midpoint by 200 basis points from plus or minus three per cent to plus or minus five per cent. Today, though the naira goes for N197 at the official market, it sells for N320 to a dollar in the parallel market, a difference of about N125. The debate Consequently, analysts and many multilateral institutions have called for the devaluation of the naira. But the government has insisted it is not going to devalue. Just last week, a former minister of finance, Dr. Anthony Ani joined the

Godwin Emefiele

debate calling on the federal government not to devalue the naira. In his keynote address at the induction ceremony of new members of the Institute of Chartered Accountants of Nigeria (ICAN), he stated categorically, “I hold the view that our naira is even undervalued and should not be devalued.” “President Buhari should continue to resist the pressure to devalue. There is nothing to gain from devaluation since we do not export anything significant except our crude oil. Any devaluation will further worsen our economic situation and will send the cost of all our imported goods to the skies. “Already, our imports are the most expensive in the world. Nigeria was removed from the community of nations that adopts letter of credit for its export business and as a result no bank in Nigeria (not even our CBN) can operate letters of credit. We have to do this through correspondent banks and this means paying for our imports upfront with the attendant commission, fees and interest charged by the correspondent banks. Devaluation in addition to the ban on letter of credit will greatly increase the cost of imported goods,” he said. He added,“We are an import dependent nation and since exchange rate is the price of our currency in terms of the dollar which we use to pay for our imports, it must impact on the economy, Apart

from this, our exchange rate has moved from $2 per N1 to N199 to $1 between 1985 and 2016 yet, the International Monetary Fund (IMF), United States of America and other international Banks have urged Nigeria to further devalue our naira.” He argued that the central policy instrument in most economic programs is the exchange rate. According to him,“It is a key policy variable in the realignment of currencies and relative prices also in developed economics. A viable, stable and realistic exchange rate through impact on relative prices acts as supply incentives for needed adjustment in production structures ensures judicious use of resources attracts capital inflows and directs other foreign exchange transactions from parallel market. A good exchange rate mechanism therefore augurs well for price stability and international trade. “Many countries have faced difficulties to maintain exchange rate mechanism. We remember vividly the collapse of the British exchange rate mechanism (ERM) in the 1980s and this caused a lot of problems for the world economy. The Asian Tigers (Philippines Malaysia, Singapore, Indonesia) tried in the late 1990’s to set up an exchange rate mechanism in order to enhance trade between their countries but this collapsed after the destructive intervention of a George Soros working for the Bretton Woods Institutions. “As for the United States, the dollar is always

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

ANALYSIS Split of the Nigerian Economy

Agriculture 24%

Trade 17%

Oil 8% Others 34%

Non - Oil sector 92%

the dollar and cannot be affected by any world economic turbulence. The dollar is protected to such an extent that the developing world must restructure their economies and devalue their currencies so as to protect the dollar. In so far as the US is concerned, he said the currencies of the developing economics are always over valued and must be devalued vis-à-vis the dollar. sHe added that the only currency that has overcome overvaluation from the point of view of the US is the Chinese Yuan, “for which the US is now seeking a revaluation just because the Chinese exports to US are cheap. On this basis when all world exchange rates collapse the dollar will be the only currency standing. “In Nigeria, between 1995 and 2003, we tried to build and maintain a realistic exchange rate mechanism and develop a viable and stable exchange rate but our efforts were thwarted by the IMF when as a conditionality for debt forgiveness, it forced the country to change its policy and depend on commercial banks for our exchange rate management.” This, he added, is precisely the cause of Nigeria’s present predicament in the wild and inappropriate exchange rate of N350 to one U.S dollar in the parallel market. “I submit that neither devaluation nor flexibility of the exchange rate is the answer to our problems. Our exchange rate mechanism was destroyed when we were cajoled into debt cancellation programme. We must restore this mechanism and adopt a realistic exchange rate. “We must make the naira to be internally convertible again; we must realize that the naira had in the past been over-devalued with no corresponding production or productivity to follow. I hold the view that Nigeria must not devalue and that President Buhari is right in resisting devaluation, “he stated. Ani gets support Ani is not alone in his opposition to devaluation. At the maiden edition of the Cable Colloquium, with the theme, “The Naira on Trial: To Devalue or Not,” Edo State Governor, Adams Oshiomhole and former Vice President of the Nigerian Labour Congress (NLC), Isa Aremu, vehemently rejected devaluation. Oshiomhole, who opened the discussion, traced the history of crude oil price fall from $148 per barrel to the current price of about $30. He said when things were perfect with crude oil at $148 per barrel; there was no debate on whether naira should be devalued or not adding that unfortunately, government didn’t take a deliberate action to save for the rainy day.

“Suddenly, oil price dropped to N110, N50 and N30 in quick sequence, with the consequence being the drop in the monthly earning accrued to the nation and the depletion of the country’s foreign reserve.“Given the sharp drop in the price of crude oil, the three tiers of government now find it increasingly difficult to meet their monthly obligations as the amount shared on a monthly basis dropped significantly. This has resorted to the current situation where state governments now owe their workers,” he said. Quoting a CBN figure, Oshiomhole observed that the foreign reserve was $42.8billion as at 2014, “and it dropped at the beginning of 2015 to $37.3 billion. Currently, it is about $28billion.” He said foreign reserve was coming down because while the earning from oil dropped, Nigerians’ appetite for imports and foreign goods had not reduced. He warned that the reserve would be totally depleted in the next one year unless drastic actions were taken to reverse the current trend. There is the need, according to Oshiomhole, “to curb the demands for imports and reorder our consumption pattern.” He, however, said the naira was on trial and those prosecuting it were investment bankers and currency speculators, adding that devaluation would hurt the poor, especially workers. According to him, those who looted government treasury are unconcerned about devaluation. He urged the CBN to remain firm in its current stand not to devalue the naira, even as he suggested that the list of items banned from accessing official foreign exchange rate should be increased to include medical tourism and foreign study. He said,“We have one million Nigerians studying abroad and consuming about half a billion.’’ A CBN director, who agreed with the submissions and figures reeled out by Oshiomhole, said devaluation would definitely come, but it would be anchored on the premise of strong industrial policy. He said there was the need for Nigeria to make the investment climate attractive for foreign direct investment (FDI). Giving the history of devaluation, which he defined as “a deliberate action of the central bank or the monetary authority of a country to reduce the value of a currency,’’ he disclosed that in 1986, the naira was depreciated by 71.5 per cent; 1989, 23.9 per cent; March 1992, 42.1 per cent; January 1999, 74.65 per cent; January 2001, 3.18 per cent; December 2008, 7.73 per cent; January 2013, 13.23 per cent, November 2014, 5.58 per cent, and February 2015, the country devalued by 14.25 per cent. He said: “These are the episodes of devaluation

Real Estate 8% Telecoms 9%

of the currency since the Structural Adjustment of 1986. All these have been anchored and premised on the issues raised by His Excellency, the foundation with the hope that if we depreciated, we could accommodate current pressure and build on it. But we have not built on our devaluation overtime. Now is the time. Devaluation is absolutely sound if the fundamentals are right. “What we are simply saying is that now, let us lay the foundation, let us initiate development in such a way that when we devalue, there could be a rider, a basis on which the economy can take off to higher heights. Devaluation may come someday, but it will be on the basis of a strong industrial policy.” Aremu, was more concerned about the plight of the Nigerian workers, saying any attempt to devalue again would lead to demand for wage increase. Monetary independence Last year, a key member of the MPC, Dr. Doyin Salami, called on the CBN to make public its view on its monetary policy dilemma before the end of the year. Salami stated this while delivering his key note address at the Standard Bank West Africa investors’ conference, tagged: ‘Nigeria: From Promise to Progress’. For Nigeria to transit from promise to progress in the immediate short-term, he said among other steps to be taken, the CBN must choose two of the three options before it, which he said, are: fixed exchange rate, maintain monetary independence, and capital mobility “No monetary authority as far as we understand in economics is able to maintain a fixed exchange rate, maintain monetary independence and also maintain capital mobility at the same time. The first question therefore is what do we choose? You are allowed to choose two out of the three; the key question is which two should Nigeria choose? “That is the question that I dare say will have to be answered in the coming months. Our exit from the JP Morgan index is unfortunate, as some say perhaps even an own goal, potentially has the silver lining of enabling us to ignite a conversation around which two of these three options should Nigeria take,”he said. Salami added, “Do we go for independent monetary policy and loosen exchange rate? Do we go for capital mobility and independent monetary policy? This is a very important question and it is even made more important when you bear in mind that at some point in not too distant future the US Federal Reserve will begin the normalisation (unwinding quantitative easing). “I am pretty clear in my mind that I will rather

Nigeria maintain independent monetary policy because that gives us the capacity to react to domestic exigencies and a market determined exchange rate. I will rather that the price of currency is determined by demand and supply rather than any administrative determination. “There are different shades of capital controls and capital account arrangements, as I tell people, South Africa is Africa’s biggest financial hub, finance in is not a problem, finance out is a different matter entirely. One of the fundamental questions that the CBN must answer very quickly at least by the end of this year, is its view on the dilemma, which two of these three will it choose. That for me will set the tone as far as the ability of monetary authority in Nigeria to aid the process of promise progress.” Nigeria, he said, is one of the few countries that potentially could be self-sufficient adding that to do this we must produce. “If we are going to make progress, we need to skew relative prices and economic conditions such that they make producing Nigeria profitable and attractive. I am one of those that have argued that the naira value should be market determined and a lot of people say that is going to be devaluation. “Currency policy is not a silver bullet, it cannot take Nigeria anywhere. We will continue simply to devalue the currency. Nigeria’s economy has to be competitive; we cannot continue to be 170 out of 189 countries on the ease of doing business report. Nigeria is too large, too well endowed that its leadership should not continue to accept a position where we are almost at the bottom quarter. A competitive economy has to be built and regulation is part of that,” he said. Devaluation advocates Head, Africa Strategy at Standard Chartered Bank, Samir Gadio, had argued that though a further devaluation of the naira may not happen soon, an adjustment is imminent.“ “Despite the CBN’s resolve, markets observers believe that it will eventually succumb to pressures and devalue the currency (again),” he said. Also, Bond Fund Manager, Standard Life Investments, Kieran Curtis, had stated that a further devaluation would restore the economy to competitiveness and promote more capital inflows. “It will take a combination of weaker currency and higher interest rates to get us back to Nigeria,” he said, arguing that when Nigeria is compared to other oil exporters, it hasn’t had enough of a currency adjustment. The way out As a way out, Ani proposed that all the excess liquidity in the banking system arising from foreign exchange operations should be mopped up and retained by the CBN at zero per cent interest. “This amount may be used for development while being retained by the CBN. The CBN must continue to play the central role in the Autonomous Foreign Exchange Market. The CBN must fund the real sector of the economy without exception for its foreign exchange requirements. Any prohibition should be done by tariff adjustment. Commercial banks will fund the other sectors. “All foreign exchange earnings in respect of for the nation’s oil and gas operations will be retained by the CBN while remittances and non-oil imports earnings will be retained by the commercial banks for their operations at AFEM,” he said. He added that the CBN must allow the Bureau De Change (BDG) to operate on its own and must stop funding them. “All their deposits should be returned to them. The parallel market rates must be crashed and a more realistic and sustainable rate ascertained for the Naira with an overage of not more than two per cent. He said:“Nigeria must find its way back into the community of nations operating letters of credit. A situation where we operate through correspondent banks makes our imports to be expensive and have adverse impact on the generality of Nigerians. Our motto should be production, production, production. We must repair our refineries and produce all our petroleum product needs. We must produce our food requirements. We must diversify our economy.” Ani said the re-exporting of remittances from Nigerians in Diaspora must stop. “CBN must rescind and repudiate the Outbound Money Transfer Service as this is the window for the re-export of remittances. The CBN should enter into wider consultation with the Minister of Finance and the Minister of Planning before introducing schemes that appear to authorise capital flights and disgrace to the nation. The schemes of dealing in naira denominated bonds with J P Morgan and Outbound Money Transfer are shameful and unacceptable,” he said.

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

ANALYSIS

Africa’s Path to True Development With entrepreneurship identified as one of the most important inputs in the economic development of any country, it is becoming clearer that support for start-ups, small businesses and innovation-driven enterprises is the answer to the vexing economic questions facing Africa today, writes Obinna Chima

Adesina

Despite the challenges facing a lot of economies in Africa as a result of the slump in commodity prices, the continent still remains among the fastest growing in the world. Its rising growth profile is among other things, being driven by its rapidly expanding consumer markets as well as its private sector. However, Africa’s share of world trade is just around three per cent with a very small fraction of global foreign direct investment flows. Also, the gross domestic product (GDP) of the entire continent is just about that of Chicago, a city in the United States of America. In addition, a report by Oxfam estimated that 70 per cent of the world’s population lives in countries where economic inequality is greater than it was 30 years ago. For instance, the report showed that in South Africa, inequality is presently greater than it was at the end of the apartheid era. Given the current levels of income inequality in African countries, it is estimated that the continent’s poverty rate would not fall below the three per cent of the population - the World Bank’s definition of ending poverty, until 2075. The report also found out that inequality within countries was rising rapidly all over the world, with many nations’ richest people earning more, both in absolute terms and relative to the rest of the population. Furthermore, it stated that in Nigeria and some other countries, the richest people’s share of national income is large and growing, while the share of more than 1.1 billion people - 16 per cent of the world’s population - is shrinking. Inequality hinders growth, corrupts politics, stifles opportunity and fuels instability while deepening discrimination, especially against women. The potential benefit of redistributing the wealth of the very richest, by even a tiny amount, tells a compelling story. Oxfam International’s Executive Director, Winnie Byanyima warned that rising inequality could set the fight against poverty back by decades. In addition, because of the challenges of setting up businesses and also to market their ideas, a lot of African youths are frustrated. Therefore, in order to tackle these challenges and place the continent on the path of through economic growth and development, business

Michel

leaders in the continent have decided to forge an alliance that would drive job creation through support for entrepreneurs. That was the focus at the just concluded World Economic Forum (WEF) on Africa titled: “Connecting Africa’s Resources through Digital Transformation,” that took place in Kigali, Rwanda. They also if African economies fail to achieve inclusive economic growth, they could miss the path to true development and run the risk of increased instability. Tackling Job Crisis To the President of the African Development Bank (AfDB), Mr. Akinwumi Adesina, Africa currently has a job crisis. He said two-thirds of the continent’s youths are without jobs, which he stressed put then in vulnerable position. This, the former Minister of Agriculture in Nigeria said could heighten social tension in the continent. “Therefore, the AfDB is announcing in this meeting a new initiative that is focused on creating 25 million jobs for Africa’s youths over the next 10 years. Most of that would be in the area of skills and entrepreneurial development, so as to support the businesses of young Africans. “My expectation is that at the end of this WEF on Africa session, we would be able to understand the enabling conditions that Africa must fulfil to participate effectively in the fourth industrial revolution and also unleash the skills revolution in the 21st century. “I think the issue we are talking about is the fourth industrial revolution, which is very important for Africa. But we must recognise that the fourth industrial revolution is here, yet Africa has not participated in the second industrial revolution, which is just simply about providing access to electricity,” he explained. According to Adesina, whether it is the first, second, third or fourth industrial revolution, everything revolves around access to power, saying that was why the AfDB launched a major effort called the new deal on energy in Africa, to light up and power Africa with 10 years. “With that, we would be able to increase the access of SMEs to electricity, to be able to improve Africa’s industrial capacity and competitiveness in

the global market.”Adesina who was a Co-chair at the forum said. Also, the Chairman of Heirs Holdings, Mr. Tony Elumelu, warned that if measures are not taken to tackle unemployment in the continent, Africa’s demographic boom might turn out to be a demographic doom. Elumelu, who was also a co-chair at the forum added: “I see myself as an Africapitalist in everything that I do and all these discussions are about economic empowerment of our youths. “I am concerned as many of our participants that we need to be careful in Africa and make sure that our demographic boom does not become demographic doom and the way to do this is to make sure that we economically empower our youths. “We have a lot of them, but if we don’t do this, it can become a major trouble for us and I am happy that we are talking about job creation in a manner that is functional in the 21st century, access to electricity, which would help us to achieve the empowerment of our people” He highlighted efforts by the Tony Elumelu Foundation (TEF), to support young African entrepreneurs through the Tony Elumelu Entrepreneurship Programme (TEEP). e-Commerce and Digital Transformation Also, the Global Managing Director, McKinsey & Company, Dominic Barton, stressed the need to support small businesses in the continent. Borton, who said he was optimistic about the future of the continent, pointed out that even though there are lots of media headlines emphasising the negative issues on the continent, there are many good things going on in Africa. “This is the second fastest region in the world even the drop in commodity prices. If you look at the trend, this continent has the youngest population in the world. So, we have to make sure the youths are educated. If you look at urbanisation, which is also one of the biggest drivers of productivity growth, it is also happening at a fast pace over the last 20 years. “Technology is also going to be a critical enabler. Another area I want to point at is e-Commerce. e-Commerce is actually one of

the fastest growing areas for Africa right now and it helps SMEs to connect. That is the single reason why we are seeing growth in the Chinese consumer market. So, we must also focus on the integration of the continent to encourage the free flow of trade among people in the continent,” he said. Education On her part, the Founder, Graca Machel Trust, South Africa, Graca Machel, stressed the need to improve the standard of education in the continent. According to her, for Africa to catch up with job demands in the global market, there is need for governments and the private sector to re-invent their system of education. “We have not been able to give opportunities for children to learn and be able to develop knowledge and skills. We have not been able to improve education, anticipating the needs of skills in the next 10 -15 years. “That is what a system of education should do. I don’t see us really moving as we should if we don’t take a deep look at how we can re-invent our system of education. Here, I am not talking about the public sector; I think the private sector has a role to play to look at the skills that would be required in 20 years’ time so that the system would enable the young ones to prepare for the future,” she added. On his part, the Chief Executive Officer and Vice Chairman of the Board, Agility, Kuwait, Terek Sultan Al Essa, said digital revolution will help Africa to leapfrog the challenges of infrastructure that in the past had held back the continent from developing. “I think the real and proactive way to think about it is to ask ourselves who is going to be doing the digital revolution. That comes down to SMEs and we have to look at the ways to address the issues on the way of SMEs in the continent. “We all know that nine out of every new job I the emerging markets come from the SMEs. So, I think we think of ways of improving Doing Business in Africa and that is really the medicine that we need to unlock digital revolution. There is also need to improve trade in the continent and also infrastructure,” he said.

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

INTERVIEW

Elumelu: Africa Should Be Positioned as a Destination for Global Capital The Chairman of Heirs Holdings, Mr. Tony Elumelu, in this interview with Obinna Chima at the World Economic Forum on Africa in Kigali, Rwanda, spoke on the need for partnerships between the public and private sector on the continent to develop policies that would create jobs and engender economic prosperity in Africa. Excerpts: You have been associated with the World Economic Forum for more 10 years now, what value do you think Africa has benefited from the policy dialogues at these meetings especially in the quest to create jobs, reduce inequality and attract global capital? I accepted the role of co-chairman at this World Economic Forum because it aligns with my own principles and belief. I believe that we must as a continent do something about the youth engagement. Secondly, my philosophy as an Africapitalist is that it is not only government; the private sector has a role to play in developing the continent to make long-term investments in key sectors of out continent so as to create economic prosperity and social welfare. So, having a WEF on Africa programme that talks about how to leverage digital transformation in harnessing and mobilising our abundant resources in the continent, I felt that was wonderful. Wonderful because I like to see my friends from outside of Africa to visit the continent so that they can see that what they read in the newspapers or what they watch on the television are far from what is on ground. This is a new Africa. You can only go or invest in business in a place where you are comfortable. So, as they come and see that we are not in the jungle, all things being equal, they would want to bring their money to invest here (Africa). This is because there are so many global private capital looking for destination. We should position Africa as the destination for this capital because it is massive capital inflow into Africa or massive capital investments by us Africans to help create the kind of job and economic prosperity that we need. And that is where the alignment with Africapitalism comes from. But what I have been preaching is let us move from talking to doing. Let’s go back with a clear agenda, so that by the time we meet next year on in two years’ time, we would look at how efforts we have made in implementing some of the agreements reached. We need the media to tell the world that it all about how to create jobs in Africa, advance economic prosperity and advance inclusive growth, so that you don’t say the Gross Domestic Product (GDP) is moving and people on the ground are not feeling it. They don’t feel it because we do not engage in industrialisation and processing of our raw materials, everything is imported. I see myself as an Africapitalist in everything that I do I am concerned about economic empowerment of our youths. I am concerned as many of our participants that we need to be careful in Africa and make sure that our demographic boom does not become demographic doom and the way to do this is to make sure that we economically empower our youths. We have a lot of them, but if we don’t do this, it can become a major trouble for us and I am happy that this WEF on Africa, we are talking about job creation in a manner that is functional in the 21st century, access to electricity, which would help us to achieve the empowerment of our people. The foundation I founded and I, we are trying to encourage entrepreneurs. We observed that our people have great ideas, but the problem they suffer is lack of mentors, access to capital and proper training. So, we are trying to do this. Twenty-two years ago, I endowed $100 million to the Tony Elumelu Foundation to run an entrepreneurship programme across the continent. The programme is open to everyone in 54 African countries. The first batch was very successful. So, the conversation should begin to change. That was why I said

Elumelu

I was happy to see people visit Africa, people who manage billions of dollars. If they go back and are impressed, if you present any Africa investment strategy to them at their board meetings, there are chances that they would okay it. But if they have a negative perception and if you ask them to invest in the continent, they would definitely turn it down. This, to me is the significance of what we are doing at the WEF on Africa. In terms of access to capital, it is interesting that technology and finance have not really converged in Africa to solve some of the bottom of the pyramid problems for SMEs. So, how can this problem be solved? For me, the way I look at all of this is what is our vision? The purpose is to create an inclusive African society where male, female,

This is a new Africa. You can only go or invest in business in a place where you are comfortable. So, as they come and see that we are not in the jungle, all things being equal, they would want to bring their money to invest here

old people, young people are able to have a decent standard of living and where poverty is drastically reduced. And there are many ways of achieving this. Firstly, it is all about leveraging technology secondly is about better education and thirdly better governance at the sub-national and local government level. So, for me, we all need to work together – the public and private sectors, national partners and development partners, with the objective that we want to alleviate poverty by improving access to finance and we can achieve it. We have seen how Vietnam achieved theirs, so we can achieve it also as a continent, but we need to be serious, talk less and do more. What is the drive behind the Tony Elumelu Entrepreneurship Programme (TEEP) and what success rate do you expect from the programme? I am a proponent of Africapitalism, which is private sector participation in the development of Africa. Private sector is all about entrepreneurs. So, we need to keep the stock of private sector entrepreneurs. We should not see the current private sector leaders as the best or the only crop that Africa can offer. So, for me, looking at ones history and one’s past, I was born in Africa, I worked in Africa and created some wealth in the continent, both for myself and people who believed in me at a time. So, I thought we should institutionalise this luck by creating similar opportunities for others that have ideas, we should encourage people to succeed, realising that ultimately, as they succeed, their success becomes a collective

success for Africa. This is because if you link their success to the doctrine of Africapitalism – which means the private sector, has a role to play in Africa by investing in key sectors and helping to stabilise the society, then their success becomes the success of every one of us in the continent. In Africa, the private can and should be able to develop the continent, but we need to create the right environment. So, that is the major driving force. How many do I think would succeed? I wish I am God to tell how many would succeed. But you know, we want to give people equal opportunity to succeed. We are a lot more interested in process because we think the right process would deliver the expected outcome. The tenure is 10 years in the first instance. After 10 years, we would reappraise and take further decision. We believe that entrepreneurs need capital and education. It is amazing what we have seen working with these Africans. Recently, I was in Uganda to see some of them and I was very impressed with what they are doing. One of us told us how he was able to support solar power and took access to electricity to villages. So, as I come to WEF, my expectation is that we should all work together. We have a huge number of unemployed Africans who have great ideas. The second batch that ended recently, 45,000 applied, unfortunately, we chose just 1,000. This is because the $100 million programme is $10 million every year and $10,000 per participant and we have 1,000 participants every year for 10 years. So, we are constrained to stop at 1,000 participants every year.

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

ANALYSIS

Assessing Ogun’s Diversification Drive The Ogun State Investors’ forum was an opportunity to showcase efforts being made by the state to become an economic force in Nigeria, writes Nume Ekeghe

Governor Amosun

Managing Director, Unilever, Mr. Yaw Nsarkor

Adebajo

Coumantaros

Following the significant drop in funds from the federation allocation as a result of the slump in crude oil prices, economic diversification has become an anthem with most states looking inwards to attract investments. Ogun State is no doubt doing its best in this regard. At the recently concluded two-day economic summit, the state announced that it had since the 2015 summit been able to attract about 96 new businesses through various initiatives. Since the inception of the investors’ forum, it has focused primarily on agricultural development and industrialisation. It has been able to attract $2.1 billion investments from China, 96 new investments, created an enabling environment and incentives to attract investments into the state thus spiraling development throughout the state. Governor of Ogun State, Senator Ibikunle Amosun, said the state would continue to focus on agriculture. The theme of the forum was: “Agriculture, Environment and Transportation.” Amosun said: “Agriculture plays a significant role in economic development of our state. The state is endowed with favourable climate and good vegetation for all year round cultivation of various cash and food crops as well as livestock rearing. In the south, we have the evergreen forest vegetation and soil most suitable for the cultivation of cash and food crops like oil palm, rice, kolanut, cocoa, cotton, cassava, cocoyam and vegetables. “While in the north, we have a vast grazing savannah land that is very proper for animal husbandry. In addition to this, there are forest reserves, rivers and lagoons. Other natural resources include forest and large quantities of mineral deposits, such as limestone, phosphate, granite stone, gypsum, bauxite, bitumen, feldspar, clay, glass sand, kaolin, quartz, tar sand and gemstones.” Speaking on environment, he said:“Environment is a new theme this year, but as demonstrated during the COP21 Climate Change Summit in Paris in December 2015, we are aware that we cannot ignore our environment while pursuing our developmental initiatives. Ogun State has one of the last remaining virgin rain forests in West Africa. “Found within J4, a forest reserve located 66km from Ijebu Ode, of which 20 per cent is protected by the United Nations. Yet, unless surrounding communities can see how preserving the forests can help them earn a decent living, they are likely to collude with illegal loggers, threatening the world’s ecosystem. To demonstrate how agro-forestry can generate wealth for local communities, Ogun State has entered into an ambitious collaboration with LaFarge Holcim Africa Plc and the Nigeria Sovereign Wealth Fund for the restoration of the Aworo and Imeko Forest Reserves.” Furthermore, on transportation, he said: “The strategic location of Ogun State offers immense benefits for investors in the area of logistics, distribution and retail, which emphasises the need for infrastructural development in the state.

Ogun State is a natural transportation hub for Nigeria, as the flow of goods and people from the commercial capital Lagos via land must and does pass through our state. “Indeed, whether going into or out of Lagos from any other part of Nigeria, one must pass through Ogun State. We believe that an intermodal transportation network is essential in order to maximize economic growth. The development of strategically placed airports and railways is integral to the Ogun State development plan.” “Now, more than at any time in our history, industries and entrepreneurs from within Africa and around the world are choosing Ogun State as their preferred investment destination. For example, just last month (April, 2016), our Administration attracted $2.1 Billion dollars of Investment from China, directed mainly towards the development of our railways and Free Trade Zones. “Yet, more investment is needed to realise the full potential of the State. Our State Master Plan, which is the statutory policy of government, guiding the physical development of the State, captures the many areas where the discerning investor may wish to put his or her money to secure attractive returns.”

Fruits & Vegetables, Banana, Onions, Pineapples, Ogbono, Gum Arabic. He recalled that at independence, Nigeria was a world-leading exporter of many cash crops including groundnut, palm oil, cocoa and cotton till the subsequent period of petroleum resource dominance that overshadowed the agricultural sector for many decades. Then, the South-western geo-political zone of the country financed most of its development programmes with earnings from the agricultural sector which made the region a pace setter in many areas of human endeavour in the country. To this end, Ogbeh, said there was need to recover lost grounds in these areas given the realisation that Nigeria controls a sizeable share of the global market for crops in the past. “We believe that the various measures that we are putting in place to re-energise the production of these crops in larger volumes, both as raw materials for home industries, and as exports, will help to restore our market share within the next two to four years. “Given its proximity to Lagos State and the investment-friendly disposition of the State which has attracted more corporate organisations and industries into it lately, it is evident that Ogun State will be a key beneficiary of this policy drive of enhanced agro production and export in our areas of comparative advantage,” he added.

from Lagos and to get across the country it is much easier than you would actually realise because we need our products all over the country.” He added that with this ease they experience doing business in the state also, they are targeting to employ over 3000 workers once their new plant is up and running. Also, the Chairman Flour Mills, Mr. John Coumantaros said: “I think Ogun has one of the greatest opportunities because it is at the cross roads of Agriculture and industry. There is an old saying that a factory without a farm is scrap metal and a farm without a factory is a weed. I see tremendous ability here to unite industrious and agricultural sector.” On her part, the Managing Director Larfarge Africa Plc, Mrs. Adepeju Adebajo, disclosed that her organisation had invested heavily in the state. “WAPCO has been in the state for 59 years so I think we actually predated Ogun state as the heart in western region. We have continued to invest in Ogun state. We have also invested in power, we have currently 90 megawatts and we are looking 310 megawatts by 2017. We have huge social investment which we estimate our total impact at N24 billion per annum. “We have huge environmental investments which are in line with this conference. And the question is why we continue to invest in Ogun state. I do believe that here, we have one of the most investor friendly and accessible government in the country. “By nature, cement companies are there for a long time, we tend to invest for 50 to 100 years and we have one of the most peaceful relationships with this state and that gives us the confidence to keep on investing. And of course the state is very close to the biggest market in Nigeria. So we have invested very much in Ogun state and we would continue to invest and going forward,” she added.Also speaking at the event, the Managing Director, Coleman Technical Industries, Mr. George Onafowokan, said he actually started his business in Lagos and then moved into Ogun state in 2009, saying that he has not regretted his decision because of the proximity to the port which gives you good access to export.

Agriculture and Economic Diversification Presently, agriculture has been embraced as the major plank for governments’ economic diversification drive. Speaking at the forum, the Minister for Agriculture and Rural Development, Chief Audu Ogbeh described agriculture as the soul of nations, saying that any nation without a vibrant agricultural sector is already deprived of its essence and its soul. According to the minister, it was in recognition of the strategic importance of agriculture to national transformation that President Muhammadu Buhari is giving the revival of the agricultural sector the priority it deserves in the on-going national development efforts. “So what are our priorities over the next four years? The first priority is the achievement of self-sufficiency, and excess, in our local staples namely: cassava, rice, maize, sorghum, millet, wheat, fruits and vegetables, poultry, honey, sugar, beans, soya, oil-palm, fish, milk, vegetable oils. “Through the cooperative efforts of all key stakeholders in the agricultural sector that we expect to key into this vision and help us to actualize it, we are confident that over the next four years, the huge import bill that we are incurring presently should gradually be a thing of the past while we conserve foreign exchange for deployment to areas of strategic importance, and improve on our employment generation capacity, especially for youths, which invariably will help to guarantee shared prosperity and enhance national security,” the minister added. He also urged participants to enhance agro products for export in the areas of Nigeria’s comparative advantage namely: Cocoa, Coffee, Kolanut, Cotton, Cashew, Tea, Sesame, Soya,

Ease of Doing Business An array of investors who were discussants at the forum, all agreed that the state accessibility to Lagos, which is the largest market in Africa, as well as its Ease of Doing Business, have all helped their businesses positively. The Managing Director Unilever, Mr.Yaw Nsarkoh hailed the state for being a people-focused state. He said: “It is a reality that whilst it is one of the states that make up the federation of Nigeria, it is also competing in the international sphere. The reason I define the contest that way is because I feel that Ogun is setting apart a thought-leader when it comes to people centred development and thinking about development in a very integrated way. “There are specific attributes of competitiveness in Ogun state which is the roads, infrastructure, and the fact that there is a government that is accessible, and aside from giving priority to the private sector, it gives priority to people. “People are at the centre of Ogun state development effort and at the end of the day; those of us at the private sector understand that there is no way to build an enduring business module without putting the people first then the community would thrive. That is the most distinguished feature of Ogun state which should be an example for many states not just in Nigeria, but for many communities elsewhere in Africa and the world. Also, Managing Director MD Rites Food, Mr. Saleem Adegunwa said: “We have been in the state for 2 years now and by virtue of location, the state is actually statically perfect. It is an hour

Unveiling More Possibilities The state also unveiled the Olokola Free trade zone. The Olokola Free Trade Zone (OKFTZ) is a state of the art industrial zone of about 10,000 hectares located in both Ogun and Ondo State in Nigeria. The zone is located about 100 km east of Lagos, the economic centre of Nigeria, and right in front of the new oil and gas deposit discoveries. It aims at attracting a wide range of manufacturing industries including oil and gas based industries, heavy and light industries, manufacturing and logistics as well as residential area. The master plan of the OKFTZ includes a state of the art deep sea port, which will be constructed in several phases up to -18 m water depth and other infrastructures amongst a Liquid Distribution Terminal (LDT).

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

NEWS

KEDCO Raise the Alarm over Power Distribution Crisis Ibrahim Shuaibu in Kano The Managing Director and Chief Executive of Kano Electricity Distribution Company (KEDCO) Dr. Jamilu Isiyaku Gwamna has expressed concern that the electricity distribution company is now engulfed in a major crisis, which is almost beyond its control Addressing reporters in Kano on Monday, Gwamna stated that illicit activities of pipeline vandals had abysmally affected the smooth operations of the company with its entire survival at stake. Gwamna added that the 50 megawatts received the KEDCO would not be able to meet the ever increasing demands of its customers in Kano, Katsina and Jigawa states. The KEDCO Chief Executive, who was represented by the Chief Technical Officer of the company, David Omoloye

however stated that 800 megawatts was KEDCO low demand in a situation of acute shortage of the megawatts needed to supply power on the average . Gwamna also lamenting that the current situation had badly crippled socio-economic activities of KEDCO’s customers in the three states. He said the electricity distribution company had signed a memorandum of understanding with investors willing to invest in sourcing solar energy as an alternative means of power supply. The KEDCO Chief executive stressing that power would only be available with foreign investors investing heavily in both hydro and thermal stations in the absence of a proper balance in the way the two energy outfits operate. He pointed out that KEDCO’s major concern was the dismal pace its customers were groaning under difficult

circumstance and that the way Kano was badly crippled in terms of socio-economic development emanating as a result of scanty power supply called for serious concern. He posited that it was also a responsibility of customers patronizing KEDCO to keep a constant vigil on the Company’s major installations to avoid it vandalization by some unscrupulous elements vandalizing KEDCI’s cables and transformers. The chief executive officer affirming that KEDCO should not be expected to have its presence everywhere. While unreservedly apologizing to KEDCO’s customers in Kano, Katsina and Jigawa states, the Chief Executive also expressed optimism that with the current arrangement put in place on the provision of solar energy as part of the renewable energy drive the issue of system collapse would become a thing of the past.

FBN Insurance Records 62% Increase in Profit, Declares 19k Dividend Ebere Nwoji FBN Insurance Limited has announced 62 percent rise in its profit before tax (PBT) for the year ended December 31, 2015, just as it has declared 19 kobo dividend for its shareholders. The company, at its 5th annual general meeting held in Lagos, said its PBT rose from N1.3 billion in 2014 to N2.1 billion in 2015. Also, its year on year gross premium income grew by 44 per cent to stand at N12.1billion in the year under review. Similarly, total assets of the company closed at N22.4billion, showing an increase of 34percent from December 2014 value of N16.7billion. Explaining the improvement in the company’s performance, FBN chairperson, Mrs. Adenrele Kehinde said the company’s increase in asset was driven by strong top line and bottom line growth in the life assurance business as a result of improvements in

retail space penetration. She acknowledged the giant strides made by the company and emphasised on the need to sustain the growth trajectory. “We are keen to attain uncontested leadership status in the life insurance sub-sector while we aggressively ramp up the growth of our general insurance business. “Our role in this industry is not to follow competition, but to exceed our own expectations. “To break our own records; to ensure that our positive impact on our customers and shareholders is greater this year than the last,” she stated. The FBN Chairperson also announced a dividend of 19k per share for the shareholders showing 27 percent increase from the 15kobo per share that was declared at the last AGM. Commenting on the strong financial returns made by the company during the period, Managing Director FBN, Val

Ojumah attributed the growth to the company’s commitment to her strategy, which is to continually deepen its footprint in the retail space as well as strengthening her corporate business capabilities. He said the increase made by the company in its profit before tax was made possible through efficient delivery channels, improved customer service and prompt claims settlement. According to him, this achievement further lends credence to FBN’s sound corporate governance, robust underwriting practices and risk management framework. “We have also been blessed with an exceptionally committed staff,” Ojumah concluded. FBN Insurance Limited, a holding company associated with the Sanlam Group SA, was incorporated in 2010 to transact life insurance business in Nigeria. In 2014, it completed the acquisition of the then Oasis Insurance, now rechristened FBN General Insurance Limited.

FIRS Seals Firm in Abuja over Nonpayment of N276m Tax The Federal Inland Revenue Service (FIRS) continued with its on-going enforcement of tax payment, sealing the office premises of Tak Continental Group in Abuja for its failure to pay taxes amounting to N276, 378, 212. 45million. The tax liability was made up of Company Income Tax, CIT, Education Tax,Value Added Tax from 2008 to 2010. A director of the company, who declined to identify himself, claimed he had no information on the firm’s tax liability. He subsequently agreed to order the staff home to

enable him get information about the tax debt. Consequently, a statement on Monday revealed that the FIRS team, led by Miss Ruth Maundeun, ordered the staff out of the office and sealed the office, which she said will not be reopened until the company pays the entire tax liability. In Lagos, the FIRS team visited the office of Boron Oil and Gas, located at Plot 15 Henry Ogbogbo Crescent, Lekki. However, the company’s office was not shut. Mr. Emeka Obiagwu, leader of the enforcement team, explained that the company was not

sealed because it already has an arrangement with the tax office to defray its N259million tax liability. According to Obiagwu, the arrangement involves payment in installments. The company, he explained, attempted to pay N40.2million on Friday, but was thwarted by hitches in the banking transaction. Obiagwu said the team saw correspondences between the company and its bank as regards the failed transaction. Before the FIRS arrived the office on Monday, the company had successfully transferred the instalment it agreed to pay.

WEDNESDAY, MAY 18, 2016 • T H I S D AY

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

PERSPECTIVE

How Can Nigeria Leverage its Non-oil Sector? Lukman Otunuga The sharp declines in crude oil prices have dealt a crippling blow to Nigeria which is dependent on crude oil exports for a handsome chunk of its government revenues. For the most part of 2015, the diminishing government expenditure has enforced major headwinds for the Nigerian economy, while incessant declines in oil revenues continue to weaken the Naira without fail. A weak Naira complimented with mounting fears over a potential economic slowdown has placed the Central Bank of Nigeria under pressure to induce stimulus measures in an attempt to revive economic growth. There have been ongoing talks about a Naira devaluation which bred further uncertainty, consequently encouraging bearish investors to attack the heavily vulnerable Naira. Nigeria’s best course of action to revive economic growth may be to leverage its non-oil sectors, such as agriculture and infrastructure, which would eliminate some dependence on crude oil – a market that shows tepid signs of recovery. A booming population, fertile soils and extensive rainfall are the perfect ingredients to introduce agricultural policies aimed at boosting domestic production. Such policies should create a solid platform for Nigeria to diversify from its reliance on oil exports, while also offering an opportunity to revive falling GDP growth. Expenditure on internal agricultural development in Nigeria has been strikingly low and according to the World Bank, the nation’s agricultural investments as a share of overall spending averaged just 3.8%, compared to the West African average of 7.4% in the period from 2000 to 2010. However, there could be huge scope for the agriculture sector to provide substantial government revenues, while also stabilizing the nation’s economy if overall spending is increased and the correct policies are implemented swiftly. For example, with Nigeria’s unemployment rate at 10.4% in January 2016, the 5000 Naira monthly unemployment benefits if implemented could in part be transferred to investment in the agricultural sector, which may then provide new employment opportunities which would not only boost agriculture but also rekindle economic growth. By taking further steps to promote domestically manufactured products, while importing less, should reduce the nation’s heavy dependence on the oil sector and would also improve internal competitiveness. With almost $10 billion a year spent on imported agricultural products which amount to 20% of Nigeria’s total imports, a fair chunk could be trimmed if the infrastructure for domestic agriculture is better supported. Local farmers and herdsmen could be paid the surplus from the savings made from importing less, which in turn may offer them an opportunity to farm wheat, fruit and other agricultural products that

With almost $10 billion a year spent on imported agricultural products which amount to 20% of Nigeria’s total imports, a fair chunk could be trimmed if the infrastructure for domestic agriculture is better supported

Emefiele could not only be consumed domestically but also exported. With herdsmen cultivating the lands of Nigeria for grass to feed their cattle, there is scope to automate this task through improved machinery and technology to ensure that grass can growth through the year. In addition, there are significant shortfalls in many areas of Nigeria’s infant infrastructure sector such as housing, manufacturing, and roads which may provide a source of economic growth, as well as generating an overall economic multiplier effect if leveraged correctly. Better roads and transport infrastructure would also reduce the challenges faced when exporting agricultural products, as well as providing opportunities for the manufacturing and tourism industries. In terms of manufacturing, by taking local produce and processing it into finished products for the local and export markets, not only adds value but will also

bring in valuable foreign exchange.

away from non-oil products.

A final, and arguably more radical, method focused on the Naira itself could be to remove the 198 peg against the Dollar so that the currency finds its own equilibrium price level derived from supply and demand. While it is understandable that a Naira devaluation may trigger inflationary pressures, the current peg is eroding Nigeria’s foreign reserves and enforcing further downside pressures to an economy already bruised by falling oil prices. What makes matters worse is the parallel ‘black’ market that trades around 320 to the Dollar which is 50% more than the current peg, possibly breeding corruption as the middle men exploit the arbitrage opportunities. Although an active devaluation may be out the picture, for now, a free floating Naira could boost demand for local goods resulting in the first steps to reviving economic growth

The outlook for Nigeria continues to look quite dim amid ongoing declines in oil prices, but if the necessary steps are taken to reduce the dependence on oil exports, it may be just the stepping stone which is needed for the nation to re-emerge potentially greater. Agriculture and infrastructure could be the engine for future growth if the government takes the correct steps to increase productivity and boost investment. Although GDP growth and the Naira has been predicted to weaken further in 2016, this short-term pain may offer long-term pleasure when Nigeria re-enters the global arena as a nation that has broken away from the shackles of falling oil prices to one that is self-reliant. –Otunuga, Research Analyst at FXTM

T H I S D AY • WEDNESDAY, MAY 18, 2016

BUSINESSWORLD

ANALYSIS

As African Insurers Strategise to Address Growth Challenges

Issues bordering on new strategies to address the impediments to market growth topped agenda at the 43rdAfrican Insurance Organsation’s conference in Marrakech, Morocco, writes Ebere Nwoji

Insurance Managers across Africa, at the just concluded 43rd African Insurance Organisation Conference and General Assembly went into a serious brainstorming session on how to re-strategise and address numerous challenges plaguing the growth of the sub-regional insurance market. At the conference, which took place in Marrakech, Morocco, it was reported that the region’s premium generation decreased from $72 billion in 2013 to $69 billion in 2014. However, AIO members present at the conference, expressed strong belief that despite terrorism and political turbulence in the region, there is still high hope for insurance business as available indices show good growth forecast for the regional market. Evidence of this as pointed out by the organisation at the conference is the level of interest of other continents in Africa’s insurance market. In Nigeria alone, a lot of overseas insurers have shown interest in insurance market through investments and intending investments in the existing insurance firms. The highlight of this year’s edition of the conference themed “African Insurance Amidst Current and Emerging Challenges” was the launch of the multimillion-dollar African Insurance Barometer, which stands as the biggest study of its kind ever undertaken on the African continent. The study showed that insurance premiums in the market are expected to grow at similar pace with the continent’s GDP but noted that there is dearth of skill in the market, a situation that has continued to threaten growth of the market. Discussants at the conference noted that premium from Africa, represents only 1.1 percent of the world’s GDP but noted that there is need for the continent to at least contribute 2 percent to the world’s GDP. They noted that most operators in the countries within the region have weak capital base and urged the supervisory authorities to work towards harmonising the operators. They also urged insurers and reinsurers within the region to partner and work for the growth of the market. The conference noted that 85 percent of African insurance premium comes from South Africa and that size of South African market is 36 times the size of the second to the largest market in the region, which is Morocco. The conference listed key priorities to advance the regional market as improved access to financial literacy and regulatory reforms in the area of harmonsation of operators’ activities, development of products that are more relevant to the people especially micro insurance for low income people among others. Sectoral reports of operators’ activities at the conference, revealed that insurance operators within the region are yet to raise their heads above waters in underwriting of major technical lines of businesses. The reports showed that, the operators, have continued to lose major businesses to their counterparts in foreign markets due to lack of technical capacity and other related factors, while profit margin and premium income have continued to nosedive in recent times. The region, has in the past five years, recorded losses in core technical businesses like aviation and oil and gas businesses, a situation, which they blamed on lack of support to each other by their various counterparts and preference of big business operators in the region to insure abroad instead of within the region. In the 2016 Annual review of AIO, released at the conference, the African Aviation Insurance pool, a consortium of countries underwriting aviation insurance, said the pool’s premium income in 2O15, dropped by 40 percent. Similar experience was shared by the oil and gas pool although there was slight improvement in the pool’s income in 2013.

Immediate past president, AIO, Mrs. Lamai Ben Mahmoud

Immediate past president of AIO, Mrs. Lamai Ben Mahmoud, who presided over the conference, expressed regret that despite the crucial nature of insurance to modern and stable economy, the sector has remained underdeveloped in most countries of the region. She said because of this important role played by insurance, developed countries of the world occupy predominant position in the market while African market occupy lower position. “This weakness is even more apparent regarding our African countries with a modest share not exceeding 1.4% of total premiums written in the world and a low penetration in the economy with a premium/GDP ratio not exceeding 1% in some countries, below the average rate of 2.7% recorded in 2014 for the entire continent.” Mahmoud therefore charged Insurers and Reinsurers in the region, to develop a solid partnership that can help improve access to insurance services as well as build a strong and complementary African insurance industry notwithstanding the economic difficulties experienced by most countries in the region. She said the 43rd edition of the conference is in pursuance of the regional insurers’ reflections on how to boost the insurance sector in Africa not just for economic growth but most especially to better the lives of the citizens of the continent. She said this has become necessary because despite disturbing scenarios in some parts of the continent, were evidence that the future is not all that bleak.

She said, despite the opportunities in the regional market, the insurance sector in Africa is facing a lot of challenges, which the operators must surmount to attain the present height occupied by developed world’s insurance market. She identified some of the challenges saying in the continent, insurance penetration is still a hard nut to crack. “The share of insurance premiums as a percentage of GDP has remained exceptionally low. In some countries, it only amounts to less than 1%, well below the global emerging market average of 2.7% in 2014, while Africa’s share of the global insurance market is 1.1% for Non-Life and 1.8% for Life but this is a demonstration of the enormous growth potential within the industry, an indicator that the insurance market is still widely untapped. She said in order to insure Africa’s future, operators must devise strategies aimed at facing the continent’s numerous challenges today. She listed more of the challenge as recent drop in fuel prices, cyber criminality, political instability, insecurity with some new waves of terrorist attacks, climate change, food security challenges for the continent’s population tomorrow among others. According to her, added to this is problem of shortage of skilled and experienced insurance professionals which she said has resulted in large and complex risks not being retained within Africa, but are ceded to foreign insurance markets because

specialist risk management capabilities and high quality security are not sufficiently available leading to a consequent premium flight which threatens the viability of the domestic insurance industry. Highlighting more of the challenges, the AIO boss stated: “Moreover, there is still wide spread ignorance on the benefits of insurance. Added to this list is an acute insufficiency of product differentiation. She said to address these challenges, every company should continue to act to promote expertise. “We emphasise in this area on the need to strengthen the diversification of training in scientific and technical issues by leveraging new tools and instruments imposed by the development of technology to ensure greater communication of their knowledge and know-how.” The AIO, established in 1972, is a non - governmental organisation recognised by many African governments including Cameroun which has signed a headquarters agreement with it and where it has set up its permanent secretariat. It has 371 members, 363 of them from 47 countries in Africa and 13 associate international members from seven countries. Its membership is open to the insurance industry, regulatory/supervisory authorities, insurance training centers and National and regional associations. Its main objectives are development of a healthy insurance and reinsurance industry and the promotion of inter- African co-operation in Africa.

T H I S D AY • WEDNESDAY, MAY 18, 2016

EDUCATION Finland,WhereTeachersareTrulyinCharge With a minimum qualification of a master’s degree for teachers and a broadly-outlined national curriculum designed by experts, in collaboration with the ‘common’ teacher and other stakeholders, Finland administers only one national assessment for students seeking admission into higher institutions at the completion of their upper secondary education. Peace Obi reports The Finnish education system has so many things that make it unique and different from the closest Nordic country’s education system. In what can be described as a pure-Finnish local content education policy, the system has no room for school inspectors, performance or league tables and no national coordinated examination for students until the age of 18 or more, children do nothing but play until they start compulsory education at age seven. This is also a country where teacher autonomy stems from the trust the policy/decision makers have on its broadly-outlined national curriculum, teachers’ educational training, teacher quality, competence and trust. The system relies so much on teachers’ competence and ability to rightly follow the curriculum and to correctly assess students’ learning outcomes. A school system where students address their teachers by their first names, where teachers teach only four lessons every day with two hours a week dedicated to their professional development while students are given home work that will not last more than 30 minutes, among others. Giving insights into the Finnish education system during a meeting organised by the country’s Ministry of Foreign Affairs for some journalists invited by the ministry to participate in the just concluded UNESCO World Press Freedom Day in Helsinki, a university don from the Department of Teacher Education, University of Helsinki, Ms. Hannele Cantell, said one interesting thing about Finland’s education system which people have continued to ask questions about, is the area of testing and assessment. “Finland has only one national test for children of same age group and the exam is done at the completion of upper secondary school. So, the students take the test when they are about 18 or 19 years before that we don’t have any national test.” Cantell, who hinted that the policy has always sounded unbelievable to people, said it is true and that the absence of test or assessment for Finnish students does not in any way make them inferior in international comparison, rather, the country has continued to rank high in international rankings like Programme for International Student Assessment (PISA) and Programme for the International Assessment of Adult Competencies (PIAAC). She explained that the movement from one class to another within the basic and upper secondary school levels does not happen automatically, but that the assessment at those levels is done by the teachers and that there is no national standard for it. “We do have some guidelines in our curriculum, but it is not that strict like a national test and one big thing is that we trust the teachers and that is something I know may be difficult to understand.” According to her, coming a long way in its trust for the teachers as well as being a society that lives on trust, the Finnish Ministry of Education and Culture ceased to have school inspectors in the early 90s when it was decided that teachers can be trusted to do their job without Ofsted-style surveillance. She said the authorities consider internal control over schools to be more effective than the external, adding that reliance on prescription, testing and external control over schools do not necessarily improve school the system. Cantell reiterated that the least qualification for Finnish teachers is master’s degree and that they are thoroughly immersed in educational theory. “We have educated the teachers so well that we trust that they are able to follow core curriculum and have that kind of assessment they feel that is most suitable. And until now, it has worked. So, we have only one national test because we trust our teachers.”

A Finnish teacher with some students in a classroom

In her presentation titled ‘Education in Finland - School System and Curriculum’, Cantell declared that education is free at all levels, from pre-primary to higher education and that the country has two official/instructional languages - Finnish and Swedish. According to her, the Finnish school system guarantees equal learning opportunities regardless of social background, gender or location, as it is mainly public schools providing education for the Finns. She said instead of comparing and testing students, the focus is on supporting and guiding them, ensuring equality between boys and girls; as a culture, the country trusts its education system and has so much respect for teachers. The university don added that in Finland, children do just start going to school, but that they are allowed to enjoy their childhood by being in daycare and kindergarten where they are allowed to play and learn to go to school along the line. “We do have kindergarten and it is a very important part of our system, most of which are government owned. Before the proper schooling starts at age seven, we don’t consider them to be schooling because we have this kind of idea that a child’s creativity is in the child, you don’t have to harass him, he/she doesn’t have to be so good in academics, it will come later. But of course in the pre-school centres, there are also some kinds of learning, but it is like more of having fun and play.” She said the seven years official school take-off age also marks the beginning of the nine-year compulsory basic education for all Finnish children, which is guided by one national curriculum to ensure uniformity in standard, among others. The completely free of charge educational service also comprises instruction, school materials, school meals, healthcare, dental care, transportation, and even special needs education and remedial teaching. Cantell, who is a member of the national curriculum groups of Finnish National Board of Education, told journalists that the country has a national curriculum and it is the same

for all Finnish school children and teachers. Explaining that after the basic education, the students can choose to go to upper secondary school or vocational school or work, she said, “all our teachers have to follow the national curriculum. Also, all our school books have to be made so that they follow national curriculum but the curriculum is somehow open that it is possible for the teachers to do some kind of individual teaching, that is, the schools can do it a little bit differently.” Disclosing what makes the national curriculum for Finnish schools special to be the collaborative efforts of experts from the National Board of Education, Ministry of Foreign Affairs, national curriculum groups, NGOs, students and more importantly, the teachers, she said the country considers teachers as the best experts in curriculum design. “The teachers are the ones who understand what is happening in schools better than anyone else or any professional group. In Finland, what is very special about the national curriculum is that it is not a paper which comes from the sky or from some kind of office to school; it is an ideology which is designed together with pedagogical officials from the National Board of Education. But what is very important is that in curriculum groups, there are always teachers- ordinary school teachers, because in Finland, we think that they are the best experts.” Highlighting the premium placed on teachers by the society and even among the academia, the teacher educator said: “The best experts are not PhDs or some university people or some people in some ministries. The best people who understand what is happening in schools are teachers and that is why we respect teachers’ opinions a lot and in curriculum groups. “There must be teachers otherwise we will design some kind of stupid curriculum which is not relevant, especially when we don’t understand the reality in the schools. That is why it is very important to communicate with teachers and even the students.” Disclosing that the country’s curriculum reform circle is 10 years, Cantell told journalists that

a new curriculum is expected to take effect during the next school session in August, 2016. “We have just finished with our last reform and we will start with a new curriculum. So in August, we will start with new ideas in every Finnish school. So, it is quite interesting always to start a new curriculum.” She stressed that before the new curriculum is implemented, teachers and important stakeholders are taken through trainings to familiarise them with the new curriculum and implementation strategies. “And before then, there has to be a lot of courses for teachers and the schools on how to follow the curriculum. What are the new things there, how should you interpret the curriculum?” Listing some of the trends in the new curriculum to include global education, phenomenal-based learning, themes like food, energy sustainable development, history and future in Helsinki, Cantell said it is hoped that through interdisciplinary projects, students are expected to learn themes combined in various subjects and that subject teachers are expected to work together to achieve a better implementation. On the flexibility it allows for implementation, she said: “The curriculum gives frames and ideas, it also gives freedom to the teachers for instance if they are interested in drama pedagogy, they are free to do it. In Finland, what is very special is that the curriculum is an ideology which is designed together with pedagogical officials from the National Board of Education. So, it is a kind of open process. “This is the first time it was possible for everybody to comment in the curriculum text. It is like a together-made paper and that why I think many schools see it as important because it is not just something that comes to them that they must follow but something we have done together. “One important thing is that nearly all Finnish schools are public schools. So we don’t have private schools system. We do have some private schools but they also follow our national curriculum.”

T H I S D AY • WEDNESDAY, MAY 18, 2016

EDUCATION

Sokoto to Launch Educational Appeal Fund Mohammed Aminu in Sokoto The Sokoto State Government said it has concluded plans to launch an educational appeal fund to effectively provide basic educational needs for people of the state. The Commissioner for Environment, Alhaji Bello Sifawa, who disclosed this recently while addressing journalists at the end of the state executive council meeting, said the measure is part of the state government’s commitment to ensure the realisation of the objectives of the recent declaration of a state of emergency by the government. He said the move is part of the efforts to ensure that all stakeholders make their meaningful contributions towards revamping the hitherto moribund sector, adding that the fund is meant to provide a proper foundation for education, especially at the basic and secondary levels to ensure optimal performance. Sifawa emphasised that the state government would reach

out to wealthy individuals, corporate organisations, development partners and donor agencies in this direction, adding that the move is to complement the efforts of the state government in providing basic educational needs. “Doing so will ensure the provision of quality education for our youths, hence guaranteeing the future of the state and that of Nigeria by extension. The era when pupils receive lectures on bare floor will soon be a thing of the past this is because concrete measures aimed at providing conducive atmosphere for learning have been taken.” He added that the state government had allocated nearly 27 per cent of the 2016 budget to the education sector. Meanwhile, the council also approved the purchase of four generating sets, each with 500 KVA capacity for the State Water Board at N395 million. The commissioner said this was to enhance the provision of adequate potable water to residents of Sokoto city and its environs.

‘Address Nigeria’s Poor Performance in Maths’ Paul Obi in Abuja

The National Mathematical Centre (NMC) has called on President Muhammadu Buhari to intervene in resuscitating the interest of Nigerians in the study of mathematics, as the country continues to experience poor performance. It said the prevailing rate of failure on the subject should compel the federal government to declare a state of emergency in mathematics.

The Chief Executive Officer, Prof. Adewale Solarin, who made this known in Abuja at a press conference ahead of the international symposium on ‘Current Research Trends in Mathematical Sciences and Applications’, observed that mathematical scientists in the country are gradually turning to “endangered species”, as the number of mathematical experts are varnishing by the day. He bemoaned the poor

quality of mathematical science education and the low turnout of qualified mathematics teachers in the country, adding, “to compound matters, many African countries have witnessed unprecedented proliferation of universities and other tertiary institutions all over the continent with inadequate matching funds with the consequence that available mathematical science expertise are spread so thin resulting in shortfall of staff,

facilities and infrastructure.” On the symposium, Solarin said the forum would create an avenue for the younger generation of mathematical scientists to interact with and be tutored by various experts in the field. “During the symposium, there will be panel discussions aimed at issues affecting the overall development of mathematics in Africa. The symposium will pave the way for more specialised.”

Access Bank Partners UNICEF, Fifthchukker to Reach OVC in Kaduna Funmi Ogundare Access Bank, in partnership with the United Nations Children’s Fund (UNICEF) and Fifthchukker, will hold the 2016 annual charity shield polo competitions to raise funds to impact the lives of Orphans and Vulnerable Children (OVC) in communities in Kaduna State. The competition will feature UNICEF cup, where 15 teams will participate between May 25 and 29, 2016, while Access Bank trophy will hold between June 1 and 5, with a charity shield. Briefing journalists recently in Lagos, the Communications Officer, Advocacy, Media and External Relation, UNICEF, Mrs. Blessing Ejiofor, said one of the core mandates of the fund all over the world is creating opportunities for disadvantage children to realise their rights to education, adding that its 10-year partnership with Access Bank and Fifthchukker has been very laudable. “With funding from Access Bank, UNICEF has been able to renovate schools, provide furniture, books to some of these schools in communities that ordinarily children there won’t have had the opportunity to go to school. We value this partnership. We have progressed from the first year we started. At some point, we even saw the doubling of the funding. We are hoping and believing that Access Bank will in no distant time add more to the funding we are getting right now, so we can be able to reach many more children. “Because UNICEF, Access Bank and Fifthchukker have been able to provide avenue for child-friendly schools for children in Kaduna, we have

seen enrolment going up. With the furniture we provided, the children now have something to sit on and their dignity restored. The impact of the project is so huge in the lives of the children and their parents.” A representative of Fifthchukker, Mrs. Terri Brennan, said as a polo club in Kaduna, corporate social responsibility is something it values and this has manifested in the long-term partnership it has enjoyed with UNICEF and the bank. “It has being a privilege for all of us at Fifthchukker to embark on these projects because so much work has gone to the local communities, it is gratifying to know that we have made a difference in the lives of children in the local communities and the impact has been so huge.” She observed that such commitment would not only help to improve the lives of the children who are not just the future of the local communities, but the future of Nigeria, adding that without showing love to children, there is no way a nation will move forward. The Executive Director, Personal Banking, Access Bank, Mr. Victor Etuokwu, said as a financial institution, the commitment to the projects reiterates the bank’s passion to be a responsible corporate citizen in the market it plays in. He said the bank plans to continue to provide values to communities because of its passion about life, healthcare and education, adding that the charity shield competition would also hold in London on July 16. “Every year we have this event, we try to make them as interesting and beneficial as possible for orphans and less privileged children in Nigeria.”

L-R: The Vice-Chancellor, NigerianTurkish Nile University, Abuja, Prof. Husseyin Sert; Minister of State for Education, Prof. Anthony Anwuka; and a member, Turkish Parliament and guest speaker, Dr. Muhammed Setin, during an entrepreneurship conference by the university, in Abuja…. recently

Ambode, Others for Curriculum Reform Summit in Lagos As part of efforts to address the problem of perennial job crises in the country, the Lagos State Governor, Akinwunmi Ambode will lead a team of eminent Nigerians to re-examine secondary and tertiary school curricular at the second annual Blossom career and entrepreneurship summit which will hold on June 2 and 3, 2016 in Lagos. The summit with the theme, ‘Curriculum Re-examination: Skills Opportunities and the Dilemma of Academic Ambitions’, is designed to close the wide gap between unemployable graduates yearly churned out of Nigerian tertiary institutions and the abundant but untapped skills potential in the country. According to the Chief

Executive Officer, Best of the World Limited, organisers of the summit, Mrs. Joy Chinwokwu, the immediate past SecretaryGeneral and Chief Executive of the Association of African Universities, Prof. Olugbemiro Jegede will lead the faculty to dissect the problems and proffer a lasting solution. Jegede, who is also the founding Vice-Chancellor of the National Open University of Nigeria (NOUN), doubles as summit chairman and keynote speaker on the topic: ‘Global Job Crises: Curriculum Misfits, Reform Perspectives and Strategic Imperatives’. Also delivering a paper titled ‘Why the Private Sector should be Interested’, will be Mr. Uyi Akpata, the Country

Senior Partner for PWC, Nigeria and Regional Senior Partner for the West Market Area. His paper will, among others, give insights into the cost of retraining misfit recruits. The Chairman of the Independent Corrupt Practices and Other Related Offence Commission (ICPC), Mr. Ekpo Nta, will speak on ‘Education Fraud in Nigeria: Character, Consequences and Panacea.’ Leading educators to the summit is a prominent proprietor of Lagos Anglican Schools, the Bishop of the Diocese of Lagos West, Rt. Rev. James Olusola Odedeji, whose major concern is to re-invent the traditional values and ethics of Nigeria’s glory academic years. His paper will identify lost moral codes

and consequent impacts and burdens in Nigeria’s education sector, especially the shift of emphasis from knowledge-based acquisition to certification and vainglory. Other expected participants include ministers of education; the director general of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); directors of state ministries of education; PTAs; students of secondary and tertiary institutions; owners of schools; parents, CEOs of Nigerian and international organisations, among others. The summit is aimed at charting a focused direction towards tackling the job crises in Nigeria by advocating curriculum reviews in secondary and tertiary institutions.

US Educators Launch Leadership Programme to Bridge Global Divide Two New York high school educators, Dr. Dionne Olamiju, a high school administrator in a secondary school and Mr. Segun Olamiju, an instructor have launched a summer leadership programme, Hudson Valley Adventures (HVA). The programme was created to provide opportunities for participants to enhance their social and cultural acuity in the global realm. The founders observed that as the global village continues to shrink due

to social media connectivity and the World Wide Web, there is an urgent need to access global opportunities, especially for students from Africa. They believe that as a result of several factors, including political, economic and cultural, African scholars are not consistently offered the opportunity to cultivate the leadership skills pertinent for global competiveness. The HVA summer programme consists of two consecutive sessions during the months

of July and August. The first session commences on July 14, 2016 to July 29, 2016 and the second session starts on August 4, 2016 and ends on August 19, 2016. Participants will be selected from Africa, must be currently enrolled in school and must be between the ages of 12 and 17. Hudson Valley Adventures’ curriculum is driven by the philosophy of the experiential learning theory, which emphasises the significance of sensory experience in

the learning process as opposed to teacher-centred instruction or learning by rote. “Accordingly, our programme consists of strategically selected exciting visitations to colleges, museums, amusement parks and stimulating leadership skills building activities including the lifesaving Cardiopulmonary Resuscitation (CPR) and first aid trainings. Moreover, HVA will continue to support participants even after the completion of the programme.

T H I S D AY • WEDNESDAY, MAY 18, 2016

EDUCATION

NTIC: Showcasing Nigerians’ Academic Prowess

Considering With the excellent performance of its students at various national and international competitions and examinations, which has placed Nigeria in global pedestal, the Nigerian Turkish International Colleges (NTIC) has demonstrated that institutions should not only be assessed based on their position in global rankings, but by students’ performance. Uchechukwu Nnaike reports

Team Nigeria, represented by students of the Nigerian Turkish International Colleges (NTIC), displaying their award at the International Robotic and Technology Competition in Uganda… recently There are no better criteria for measuring academic excellence of an institution of learning order than the academic achievements of its students. Academic excellence is not an accidental occurrence, but a result of hard-work supported by the right kind of investment in educational infrastructure. The Nigerian Turkish International Colleges (NTIC) has distinguished itself as a centre for academic excellence following the achievement of its students over the years, even on global stage. NTIC, one of the investments of First Surat Group, a company whose main investment is in the area of education, health and social works, whose objective is geared towards building human resources and raising responsible individuals that are equipped with necessary skills and knowledge of the contemporary world, has been operating in parts of Nigeria for some years. First Surat Group brought its investments from Turkey which financed the schools popularly known as Nigerian Turkish International Colleges, which currently has a total of 16 educational institutions in Abuja, Kano, Lagos, Kaduna, Yobe and Ogun States with staff strength of over 1,000 academic and non-academic personnel. Today, NTIC has a total of 4,025 students, 17 per cent of who are on scholarship. The academic conglomerate is science-oriented with focus on building knowledge based on core moral values, which the modern society is in dire need of. In pursuant of its goal, the staff of the institution have, through dint of hard-work, raised and are still raising exceptional students like Master Ebubechi Ezenwanne, a young talented student of NTIC Abuja that got the perfect score of 800 both in Mathematics and Physics in SAT II. SAT II was formerly known as the College Board Achievement Tests. The test is intended to measure a student’s knowledge of a particular subject. Its tests score present a more personalised portfolio that illustrates how well you would fit at a particular school. Most colleges use SAT II scores for admission purposes, programme placement and counseling. Generally, SAT II tests are one hour long and consist of multiple choice

questions. According to the testimonies of his teachers, Ezenwanne is a young talented student who has demonstrated an uncommon quintessence of academic excellence. They said his penchant for achievement distinguished him from his contemporaries. He was also described as generally humble, focused and ever willing to embrace new ideas. One of his tutors said: “As a matter of fact, he has shown a high sense of responsibility both in learning and character. This qualities, paid off, when Ezenwanne held the world spellbound with his unprecedented score in SAT II. The SAT is one indicator of how ready a student is to handle college-level work. The test measures what one learnt in high school and how well one can apply that knowledge.” Like Ezenwanne, in November 2015, three students of NTIC made a clean sweep of the medal in the first round Olympiads organised by the National Mathematics Centre (NMC). Yusuf Atolagbe won gold medal in mathematics senior category; Sadiq Sani Dambata, gold medal in Physics; and Onyiuke Akachukwu Matthew, gold medal in mathematics junior category. The NMC is an academic institution of repute. It is a sister body to The International Science Olympiads which are a group of worldwide annual competitions in various areas of science. The competitions are designed for the 4-6 best high school students from each participating country selected through internal National Science Olympiads. Another student of the college is Atiku Bugaje, who travelled to far away Georgia, Tbilisi last month to compete alongside other students from 30 different countries. The challenge was the International Young Inventors Olympiads (IYIPO), organised in Tbilisi. It is a scientific project Olympiad where students all around the world compete with each other. More than 30 countries with 150 projects participated in this year’s edition. IYIPO is supported by the Ministry of Education and Science, and also sponsored by the European Union Representative in Georgia, International Black Sea University (IBSU),

Georgian Patent Office, and the State of Georgian 1 Channel. It was another glory for Chilolum Nwigwe Christopher, a student of NTIC Abuja, who participated and won a bronze medal at the Pan African Mathematical Olympiad in Senegal, Dakar last month. Explaining the secret behind the successes, the spokesperson for the First Surat Group, Mr. Cemal Yigit, said: “Success is a tradition here at NTIC; we are well known for our educational excellence and working very hard to stay on top. This testimony has followed the school over the years and it is not just an accident, but as a result of deliberate efforts put together by both the staff and management of the school, with the cooperation of the students.” Little wonder, the school was named the Top School in Science and Maths by the NMC. The CEO of NMC, Prof. Adewale Solarin with the minister of state for education adjudged the school as the best school of 2013 and 2014 in Science and Maths. On November 14, 2015, Dambata shared the stage with notable personalities like former Sports Minister, Bolaji Abdullahi, Charles Oputa (popularly known as Charly Boy), Kiki, among others to discuss in a TED Talk programme titled TEDx Jabi at the Sheraton Hotel, Abuja. The event attracted notable speakers from all walks of life. TED is a global community, welcoming people from every discipline and cultures, especially those who seek a deeper understanding of the world. It believes in the power of ideas to change attitudes, lives and ultimately, the world. Talking on the theme ‘Determination, Drive and Discipline’, Dambata made the institution proud. NTIC has proven at home and abroad to be an institution with a drive for academic excellence, this is evident in the achievements of its students participating in any academic competition like the Cowbell National Mathematics Competition in Nigeria, among others. The recent one is Yusuf Abdulmueez from NTIC Abuja, who became the top student in 2015 Cowbell National Secondary Schools Mathematics Competition as the tradition goes on for NTIC.

My FatherWas… My Father Is… ‘…But,Who Do People Say IAm?’ On behalf of us ladies and children, may I ask if you are not just a father but also a daddy? I hope you are enjoying the gains of not just biologically ‘owning’ your ‘copies’ but that you are also ‘daddy-ing’ them. The words: ‘daddy, dad, baba, pops, pale, papa…’ as you know, are more informal, subtle, affectionate, personal, and warm and intimate ways of referring to: one’s father, an adopted father or a surrogate father. A father’s role in parenting is such an important one that takes it out of the picture, we ladies know that the child could be marred for life. Therefore we try the best we could to provide our kids with father figures or ‘replacement daddies’. Life does have a way of bringing challenges and imbalances that we must manage, and manage well. Life isn’t always fair and is neither a bed of roses as the saying goes. A profound Yoruba imagery likens a father to a mirror. It says, and I paraphrase that, “a mother is gold while a father is a mirror.” By this it directly attributes the qualities of a role model to fathers. Many fathers are simply good at being the role. Someone in history, Sonora Smart Dodd, caught the wind of this so much so that she fought for the birthing of the world’s famous ‘Father’s Day’. Father’s Day was inaugurated in the United States in the early 20th century to complement Mother’s Day. Sonora Smart Dodd’s mother had died earlier and her father then raised their six children alone. Sonora felt moved to honour her father and fathers everywhere with a special day. She fervently began a campaign for it. The first Father’s Day was held on June 19, 1910 in Spokane, Washington at the YMCA. Sonora continued to push for the recognition of Father’s Day nationally. Eventually, a bill to give the celebration recognition was introduced in the US Congress in 1913. Several decades after this, the debate to formally and nationally recognise the day went on till in 1966. US President Lyndon B. Johnson issued the first presidential proclamation honoring fathers and then designated the third Sunday in June as Father’s Day. Six years later, the day was made a permanent national holiday when President Richard Nixon signed it into law in 1972. In addition to Father’s Day, International Men’s Day is celebrated in many countries on November 19 for men and boys who are not fathers. A short while ago, I decided to ask people randomly, irrespective of race, religion and age what they thought of their fathers. The following are some people’s comments: “I couldn’t live without my dad, he’s wonderful”. “My dad? Mum won’t tell me the truth.” “My father was everything to me, he’s gone now, God rest his soul.” “My mum is so hard on him! I wish he could toughen up!” “My daddy is a randy old devil, he thinks, he’s still 16.” “My dad is lazy, kind of too laid back.” “My father is my role model, my hero, he fixes everything. I’m lucky, I know I am.” “He beat up my mum all the time. I hated him.” “My father died on his way to visit my sister in school- a road accident, it feels like yesterday…” “Mine drank himself senseless! It’s a waste of time to think of those times.” “My husband is my dad, mine wasn’t a father.” “He’s left me so much, worked all his life and went too early.” “He takes me to the park and lets me ride on his back. I love my daddy.” “My mum is dad and dad is mum, I’m confused!” “I wish mine was my neighbour’s dad.” “He was too strict on us; I’m still scared of him.” “My dad is strong, dependable and always concerned about us. I prefer him to my mum big time.” “Not much to say, I’m afraid, he’s just one of the numbers.” “My dad will do anything for me. I love him to bits.” “He has more women than common sense.” “He shouted and banged about all the time. He was very short fused.” “He violated me! I was only 12. No one knows, ‘can’t stand him.” “He was too weak, very lazy he was. Someone always pick up his bills.” “I’d choose my dad again if we lived twice.” “He’s been more at home recently. Mum thinks his latest girlfriend has kicked him out.” “My father never played with me, ‘said I’d stain his clothes with dirty fingers.” “I love my dad now that I’m a dad. It’s been a tough job parenting my teenager.” Well, gentlemen, can you see yourself or your father in the light of any of the statements above? A quote from the ageless truth comes to mind and I’d like to share it with you. It says that: “The slothful man does not roast what he took in hunting, but diligence is man’s precious possession.” Omoru writes from the UK

T H I S D AY • WEDNESDAY, MAY 18, 2016

EDUCATION

‘Nigeria must Have Good Books to Achieve Global Standard’ In this interview with Funmi Ogundare, the President of Oxford and Cambridge Club of Nigeria, Mr. Akinfela Akoni, highlighted the impact of the club on alumni of the institutions in Nigeria; he said the country must have the necessary tools to produce good books that must be made accessible to students if it is to attain global standard in quality education What are the objectives of the club? The Oxford and Cambridge Club of Nigeria is a non-profit and non-political organisation. The objectives are to provide a forum for individuals who are alumi of the University of Oxford or the University of Cambridge, UK, to interact and to promote social unity among alumni of these two institutions residing in Nigeria. We also sponsor lectures, talks or seminars and organise other projects consistent with the objects or otherwise calculated to assist or enhance the education of any person in or from Nigeria. The club also arranges for the holding of an Oxford and Cambridge celebration in the form of a May Ball and other social gatherings on such other occasions as the executive committee shall deem desirable; and provide facilities whereby members may co-operate in professional, intellectual or cultural activities. We do promote community-based activities for the development of Nigerians and Nigeria. How has the club impacted members over the years? The club has impacted members positively over the years through its May Ball (always held in June), business forums, Oxford debates and the spring lectures. The spring lecture, which is the flagship event for intellectual thought leadership, attracting leaders from the business, political and academic cadres to its events, has featured Nigerian leaders, globally-renowned speakers including British politicians, Lord Owen and Baroness Amos, and President Paul Kagame of Rwanda. The 2016 Spring lecture is scheduled to hold on May 30, 2016 at NIIA, Victoria Island and the guest speaker is Ms. Diane Abbott MP, Shadow Secretary of State for International Development (UK). Ms. Abbott is the first black female politician in the UK and is one of the most recognisable and respected politicians in Britain. She will bring to bear her wealth of experience in education, policy and governance to lecture on: ‘Education: Reach for the Stars, Ensuring Access for All’. We believe that having the calibre of Ms. Abbot will enhance the developmental

membership comprising almost 300 active members (which is growing), we are staging world class events particularly our spring lecture series and non-Nigerians travelling to reside in Nigeria use the club as a first point of call. We are also connected to the global alumni association networks of both universities. We are much in touch with the global network of oxford and universities. If you go to the websites for instance, and you wanted to visit Nigeria as an alumnus, you will easily be directed to our club if you are there. So we are well connected. You will get invited to Oxford and Cambridge to participate in global alumni meetings, which normally hold in September of every year. Cambridge University recently relaunched its press in Nigeria, what impact will it have on the Nigerian market and quality of education in the country? To achieve global standard in quality education, we must have the tools and if we have the best that can produce the books, we can make it accessible to students to learn. I am delighted that Cambridge University Press has seen it fit to re-enter the Nigerian market, it is not just economic interest, but huge developmental interest. Interestingly when the press was trying to enter the Nigerian market, they contacted our club so we also had some inputs they were to make to enter into the Nigerian market. Children will have access to books and materials, they will be encouraged to read and that will lead to better quality education generally and of course the press will also be working with bodies that develop curriculum to make sure that there is relevance in the books being introduced into the market.

Akoni

values that the club is trying to introduce to Nigeria. Till date, we have been promoting good education values of both universities. We are also involved in community projects and this year, we are supporting the campaign to bring awareness to Internally Displaced

Persons (IDPs). How far have you been able to achieve the objectives of the club in Nigeria? I think we have been able to achieve the club’s objectives in Nigeria. We have a healthy

What is the way forward for the club in Nigeria? The way forward for the club is to continue to build a reputation for intellectual thought leadership, attracting leaders from the business, diplomatic and academic cadres to its events.

JAMB,VCs, Stakeholders to Meet over 2016 Admission Cut-off Points

VC Advocates Global Collaboration among Varsities

Paul Obi in Abuja

Uchechukwu Nnaike

The Joint Admissions and Matriculation Board (JAMB), vice- chancellors, rectors and other stakeholders in the tertiary education sector are to meet to ascertain the 2016 admission cut-off points given the conclusion of the Unified Tertiary Matriculation Examination (UTME). JAMB’s Head of Media and Information, Dr. Fabian Benjamin, said in a statement that “having concluded all processes to kick-start the 2016 admission exercise following the successful completion of the UTME. The policy meeting, which is to set the tone for the exercise is presided by the Minister of Education Mallam Adamu Adamu. “The presiding minister at this meeting underscores the importance and relevance of these decision-makers on admission into tertiary institutions and issues bordering on the general well-being of the system

are discussed and decisions taken. He said: “This year ’s meeting is scheduled to hold in July ending. Nationally accepted cut-off marks will be decided and issued. Federal government guidelines and regulations will be articulated and decision taken even as it x-rays the performance of subsequent years to put checks and balances.” Benjamin said “the very important meeting has policy makers, the heads of all tertiary institutions, the vice-chancellors, rectors, provost, registrars and relevant stakeholders like the National Universities Commission (NUC), National Youth Service Corps and others in attendance. “The minister places much important on this assembly and has categorically made it clear that he won’t tolerate a situation where decision reached would be flagrantly disobeyed or not adhered to strictly.” The board maintained

that “some of the decisions border on admissions deadlines and quota system which some institutions have failed to comply with and other sharp practices capable of undermining the entire admission process. “The board commends the minister for his effort at sanitising the sector and ensuring that the lost glory of education is returned and restored, while noting that these efforts would no doubt manifest great results in no distance time. “JAMB wishes to use this medium to urge the public to follow this process keenly and also note that cut-off points in particular are as usual a minimum score pruning mechanisms and institutions are at liberty to go higher depending on their peculiarities.” Benjamin further explained that government “insistence on due process and support for the transformation in the board and the entire education system will no doubt manifest great results in no distant time.”

The Vice-Chancellor, University of Ibadan, Prof. Abel Olayinka, has described globalisation as the key to improving on and sustaining the milestones achieved by the university system in the country. Olayinka said this while delivering the fourth annual memorial lecture titled, ‘Milestones in the Development of University Education in Nigeria and the Challenges of Globalisation’, organised by the Lagos State chapter of the UNILAG Alumni Association, in honour of the deceased ViceChancellor of the institution, Prof. Adetokunbo Sofoluwe. Olayinka, who was represented by a lecturer at the University of Ibadan, Prof. Olugbenga Ajayi, said integrating international and local cultural dimensions into teaching and research and other service functions of universities has become necessary if the system must be relevant and meet up with the 21st century demands.

“The rationale for internalisation includes the need to prepare internationally knowledgeable graduates that would build strategic alliances with institutions abroad. It is also to promote innovation in curriculum and diversity of programmes and to ensure that research and scholarship address international issues. “The number of students studying in countries other than their own is growing worldwide and it has been estimated that by 2025 there will be about eight million of such international students.” He stressed the need to attract more foreign students and staff which are almost non-existent in the country’s university system to create a diverse and vibrant university community, adding that the country’s drive towards attaining international standard will involve issues such as encouraging interaction with external partners, individuals, companies and public agencies. The VC also said there would be the need to ensure that student learnings’ is informed

and delivered by international quality research- active academic staff, as well as staff with professional and pedagogical expertise, adding that He decried the incessant closures of schools in the system, which have been majorly traced to funding, adding that universities are economic enterprise in-so-far as they need adequate financial resources to survive, thrive and excel in carrying out their core mandates of teaching, learning and research. He noted that the stoppages arising from such industrial disputes have grave implications for the system, adding that the country must strive to maintain its milestones acquired over the years such as the establishment of specialised universities, which must be jealously guarded. The don also called for solutions on the non-competitiveness, bleak employment opportunities and difficulties in securing admissions into top universities for higher degrees by most of the country’s graduates.

T H I S D AY • WEDNESDAY MAY 18, 2016

CITYSTRINGS Giving Lokoja a Facelift

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

Yekini Jimoh writes that the demolition embarked upon by Governor Yahaya Bello of Kogi State has been greeted with mixed reactions

Demolition of roundabouts in Lokoja

okoja, the capital of Kogi State, has been inhabited for thousands of years. According to history, the present settlement at Lokoja was established in 1857 by the British explorer, William Baikie, at the site of an earlier model farm constructed during the failed Niger expedition of 1841. Lokoja was the capital of the British Northern Nigeria Protectorate and it remained a convenient administrative town for the British colonial government after the amalgamation of Northern and Southern Nigeria in 1914. The first Governor-General, Sir Frederick Lugard, governed Nigeria from Lokoja. The city's population has since grown to an estimated 100, 000 inhabitants. It is a trade centre with respect to its agricultural products; this is because it is situated at the confluence of the Niger and Benue rivers. Lokoja, the ancient town as far back as the colonial era is bounded by two major rivers in Africa, River Niger and Benue. This is the town where the wife of Lord Lugard, Mrs. Flora Lugard from Mountain Pati gave the country its name- Nigeria (Niger area). Today, despite the historic records in terms of colonial era, Lokoja, the small state capital bounded by mountains and two great rivers is still far from modern development. The state over the years, has suffered unspeakable neglect in terms of planning and development. Within the last four years of the past administration, sustained efforts were made to develop the towns in Kogi State. The place of Lokoja in Nigeria's history cannot be over emphasised. It is a state where urban development ought to take the centre stage in terms of priority but the reverse is the case. Cities like Lagos, Kaduna, Calabar and Port Harcourt are cities that have some important history like Lokoja but when compared to Lokoja, one wonders why Lokoja still lags behind in terms of visible development. But some good is happening under the administration Governor Yahaya Bellow, who has taken the bull by the horns by taking steps to make Lokoja a model state capital. This latest step taken to redefine Lokoja, is not without mixed reactions.

Immediately after Bello’s inauguration as the fourth elected governor of Kogi State, some people alleged that he invited 24 Marabout from Senegal and Chad for spiritual cleansing of Government House popularly called the Lugard House. The source told THISDAY that as a result of fear and advice by some people that are very close to the Governor, it was suggested that the alleged spiritualists should undertake the cleansing of the Governor's office and his official residence.Bello is yet to occupy his official residence and his office, as he still operates from the Presidential Lodge called 'High Ground' in Government House. A week after his inauguration as the Governor of the state, Masquerades from Ebira

Today, despite the historic records in terms of colonial era, Lokoja, the small state capital bounded by mountains and two great rivers is still far from modern development. The state over the years, has suffered unspeakable neglect in terms of planning and development

land besieged Lokoja, the state capital. People also perceived this as spiritual cleansing in a traditional way.But some of the custodians of those masquerades who spoke to THISDAY said they were celebrating the victory of Alhaji Yahaya Bello as the Governor of the state even though the state governor was said to have denied ever having knowledge of the masquerades that besieged the state capital. Recently, resident of Lokoja, woke up only to find that all the roundabouts in Lokoja have been demolished. It was gathered that the state government sent bulldozers during the night to destroy the city’s five major roundabouts. Many residents of Lokoja who drove round the streets on that faithful morning became confused when they could not see the sprawling Lugard Roundabout, situated right in front of the Government House which was the first casualty. The residents also woke up on Saturday and found that another prominent city landmark, Paparanda Square, had been leveled to ground zero. Another confusion also set in when residents realised that the prominent roundabout called Kogi Circle, which was erected in 1995 to celebrate the creation of Kogi State four years earlier, had also been bulldozed by the Ministry of Works. Also the roundabout popularly called Welcome to Lokoja" which welcomes people coming into Lokoja from South Western Nigeria was not spared as it was also demolished. The NTA Roundabout was not spared too. Before the demolition of the roundabouts in Lokoja, rumours had made the rounds that past governors had buried amulets, human parts and other juju items supplied to it by powerful witchdoctors at strategic corners and other places in the town. A market woman, Hajia Halimat Yusuf told THISDAY that the demolition of the roundabouts by the state government, was a welcomed development as the state capital needs a face lift. She called on the state governor to install streetlights which she said would make the state capital look beautiful. Also speaking, a practicing Medical Doctor in one of the private hospitals in Lokoja who preferred anonymity said the action of the

governor was an indication that he is ready to work. According to him, keeping the environment clean by constructing beautiful roads with streetlights and roundabouts will definitely beautify the state capital. Another prominent member of All Progressives Congress (APC) in the state, Alhaji Muhammed Attati Bozy. has condemned the action of the governor. Bozy, who is the State Financial Secretary of APC said what the people of the state need now is development and not demolition of roundabouts. His words, "this government is complaining of lack of funds and yet the governor ended up demolishing roundabouts in Lokoja, soon he will demolish all government structures". Also, Audu/Faleke Political Organisation has condemned in strong terms the demolition of all landmark roundabouts in Lokoja, on the orders of the State Governor, Alhaji Yahaya Bello. A statement issued on behalf of the group by its Director, Media and Publicity, Hon Duro Meseko, described the demolition exercise as an ill-informed and manifestly directionless effort coming at a time when the state is reeling in the throes of cash crunch and unprecedented socio-economic crisis. "We are at a loss as to why the governor should take this very precipitate action by waking up one day and ordering the demolition of these roundabouts most of which were colonial and military landmarks on some reportedly outrageous excuse of trying to uproot amulets purported to have been buried in them by some past regimes. Does it mean Kogi is habouring a superstitious Chief Executive whose decision making are tailored towards the dictates of some marabouts?" The group lamented that since Bello assumed office, "he has been jumping from one error of judgment to the other indicative of an amateur helmsman neither prepared nor equipped for the serious business of governance that Kogi urgently deserves at the moment". According to Meseko, had the state governor bothered to consult widely, “he would have been told that his excuse for demolishing the roundabouts in order to give room for the construction of beautiful and more befitting

T H I S D AY â&#x20AC;˘ WEDNESDAY MAY 18, 2016

CITYSTRINGS

Bello

ones fail in the face of sound judgement, because where are the good roads in Lokoja to complement the so-called beautification project? He asked. "Is the governor going to build fanciful roundabouts in the middle of dirty pothole ridden roads dotting the capital city? Should he not consider building a good road network in Lokoja first before demolishing the roundabouts or better still handle the road project along with the roundabouts simultaneously? What the Governor has done is a sheer case of building a castle on a dunghill", he stated. The Audu/Faleke Organisation also accused the governor of sending 20 permanent secretaries and scores of directors in the State Civil Service on compulsory leave. "In the face of the debilitating cash crunch facing Kogi right now, should our top priority be the construction of roundabouts? When civil servants are owed several months of salaries, youth unemployment at its peak, and even basic social amenities like water even within Lokoja metropolis are not available and so on and so forth. Should roundabouts be our priority now?" According to Meseko, even if the governor had sought the elderly wisdom of no less a personality than the Maigari( Traditional Head of Lokoja) in whose domain these monuments existed, he would have been advised against the precipitate action of demolishing these monuments designed by the previous administrations to preserve colonial and military relics. "With the rate at which Governor Yahaya Bello is going, we only hope that one of the colonial legacies left in the state like the Lugard House would not be demolished since we heard on good authority that the governor is bent on demolishing all Prince Abubakar Auduâ&#x20AC;&#x2122;s legacies. For us, should that be true, then he probably should start demolishing all the roads built by Audu including Kogi State University, Kogi State Polytechnic, numerous Housing Units across the state, hospitals and many others". Meseko also said the Audu/Faleke group is not blaming the governor for all these anomalies. "We are not blaming the governor for his serial error of judgments because he was never prepared for this position nor did he sell himself to the electorate to be able to appreciate their temperaments and desires. So his palpable confusion is understandable.

Zone 8 roundabout before it was demolished

Kogi Circle roudabout was created in 1995 to celebrate the creation of the state

Another demolished roundabout

The administration of Alhaji Yahaya Bello is poised to giving the city a facelift by removing the substandard roundabouts within the city with the intention of replacing them with beautiful ones, befitting of its status

Meanwhile, let us pray hard for our dear state. We need it". The State Publicity Secretary of the Peoples Democratic Party (PDP), in Kogi State, Prince Bode Ogunmola also condemned the demolition of the roundabouts. Addressing newsmen, Ogunmola said the rumour mill has it that the Governor ordered the demolitions on the advice of marabouts who claimed that the roundabouts harbour charms allegedly planted by past governors of the state. "This voodoo government will certainly beat the imagination of every right thinking person in this country "We call on the governor to provide more purposeful leadership and leave voodooism to

its occultist practitioners. No state can move forward if it's leaders are held back by ancient unscientific and diabolical practices," he advised. Meanwhile in a swift reaction, the Chief of Staff to the Governor, Mr. Edward Onoja while reacting on the demolition of the roundabouts, said the governor took the decision to make the state capital clean. Onoja who debunk rumour that they demolished the roundabout based on juju scares said it was not true. He also mentioned that the roundabouts were removed so that they can build another with fountains and flowers. "By the nodal status of Lokoja as the gateway to the North, East and West, it is supposed to be an attractive state capital in order to meet the expectations of potential tourists

"The administration of Alhaji Yahaya Bello is poised to giving the city a facelift by removing the substandard roundabouts within the city with the intention of replacing them with beautiful ones, befitting of its status. "This administration will not live with substandard structures that represent our identity as a state," he said. On the issue of spiritual cleansing of the official residential quarter of the Governor and his office, he said it was not true that the Governor invited Marabouts from Senegal and Chad to the state. According to him, the state government is carrying out renovation work in those places as he called on the public to stop carrying rumour that they can not substantiate.

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

WEDNESDAY MAY 18, 2016 T H I S D AY

T H I S D AY WEDNESDAY MAY 18, 2016

WEDNESDAY MAY 18, 2016 T H I S D AY

WEDNESDAY MAY 18, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Clinton Faces Pressure to Win Oregon, Kentucky Contests Hillary Clinton is under pressure to win Democratic nominating contests in Kentucky and Oregon so she can turn her attention to the general election and the mounting attacks on her being waged by Republican candidate Donald Trump. The continued presence in the race of Bernie Sanders – who remains a long shot to upset Clinton and win the Democratic nomination – is prompting concerns among Clinton allies that he will damage her ability to take on Trump and hurt the Democrat in the fall. But many supporters of Sanders are not worried about any ill effects of the U.S. senator remaining in the

race, arguing that Trump is such a flawed candidate that Clinton will easily dispatch with him if she faces him in the Nov. 8 election. “Either way we’re going to get a Democratic president,” Alisha Liedtke, 28, a Sanders supporter from Ellensburg, Washington. In interviews with 14 voters who back the senator from Vermont, supporters said they are not concerned that Trump, the presumptive Republican nominee, might succeed U.S. President Barack Obama because they do not believe the real estate mogul could win the general election. They said Sanders should keep fighting until

the Democratic National Convention in July, to push Clinton to the left and challenge her ties to Wall Street and support for free-trade deals. Allies of Clinton have held back from overt calls for Sanders to exit the race. Any moves by her campaign to try drive Sanders out could risk angering Democratic voters and end up backfiring. So Clinton must continue her primary fight in Kentucky and Oregon, where analysts predict she will have a hard time winning. The Democratic race is unlikely to wrap up before California, New Jersey and several other states vote on June 7.

Syrian Talks to Focus on Truce, Aid Major power talks on Syria is to target the restoration of truce across the country and get aid into besieged areas to encourage opposition groups to return to negotiations in Geneva, Germany’s foreign minister said yesterday. “We must find a way back into the political process ... It’s about improving the conditions for the ceasefire and humanitarian aid so as to win the opposition over to negotiate with the regime in Geneva,”Frank-Walter Steinmeier said in Vienna ahead of a meeting of 17 countries backing the talks. Steinmeier spoke with journalists before the United States, Russia, European powers and Middle Eastern states opened talks aiming to revive a February “cessation of hostilities” agreement that managed to reduce fighting for almost two months. A recent surge in bloodshed in Aleppo, Syria’s largest city before the war, wrecked the partial truce sponsored by Washington and Moscow that had allowed U.N.brokered peace talks to convene

in Geneva. The talks collapsed last month after the opposition walked away following an increase in violence. Diplomats say the U.N. special envoy for Syria Staffan de Mistura hopes to launch a new round of negotiations by the end of May. He is trying to meet an August 1 deadline to establish a transitional authority for the country that would lead to elections in 18 months. With humanitarian aid also only trickling through to besieged areas, the main Syrian opposition’s High Negotiations Committee has said it would not resume talks until there is tangible progress on the ground. “We’ll need to see the guarantors of the ceasefire - Russia and the U.S. - putting something down that will really convince the opposition that this process is worthwhile,” said a senior western diplomat involved in the talks.

“Sadly, I don’t sense that and fear the U.S. will try to impose a text that is excessively optimistic, but for which its implementation will not be possible.” The Obama administration’s failure to convince Moscow that Syrian President Bashar al-Assad must go is fuelling European frustration at being sidelined in efforts to end the country’s five-year civil war, diplomats say. Some diplomats and analysts question whether the United States has misread Russia’s desire to keep Assad in power. A senior State Department official said the meeting would focus on areas where the truce was most under threat. “It needs to be on a more solid foundation than it is right now,” the official said, adding that the meeting would also focus on increased humanitarian access and on the political process.

44 Killed in Baghdad’s Bombings Two bombings hit Baghdad yesterday, killing at least 44 people and wounding more than 90, police and medical sources said, following the bloodiest week of attacks inside the capital so far this year. A suicide bombing in a marketplace in the northern district of al-Shaab killed 38 people and wounded more than 70, while a car bomb in the southern neighborhood of al-Rasheed left six dead and another 21 wounded, the sources said. A spokesman for Baghdad Operations Command told state television the attacker in al-Shaab, a predominately

Shi’ite Muslim area, had set off an explosives-filled vest in coordination with a planted bomb. Initial investigations revealed the attacker had been a woman, he said. There was no immediate claim of responsibility for the attacks. Islamic State has claimed bombings in and around the capital last week that killed 100 people and sparked popular anger against the government for failing to ensure security. Prime Minister Haider al-Abadi has said a political crisis sparked by his attempt to reshuffle the

cabinet in an anti-corruption bid was hampering the fight against Islamic State and creating space for more insurgent attacks on the civilian population. Security has improved somewhat in the capital in recent years, even as Islamic State fighters seized swathes of the country almost to the outskirts of Baghdad’s ramparts. But the prospect that the capital could return to the days when suicide bombings killed scores of people every week adds to p r e s s u r e o n A b a d i t o re s o l v e t h e p o l i t i c a l crisis.

WEDNESDAY MAY 18, 2016 T H I S D AY

WEDNESDAY, MAY 18, 2016 • T H I S D AY

INTERNATIONAL

Philippines Peace Talks Restart as Rebel Team Arrives Groundwork is being laid for a resumption of peace talks between the Philippine government and Maoist rebels, an aide to incoming President Rodrigo Duterte and a negotiator said yesterday, as a renewed push to end the conflict gathered pace. The National Democratic Front (NDF), the political wing of the Communist Party of the Philippines (CPP), is preparing to discuss a framework for dialogue and has already dispatched an advanced delegation to Davao City, where Duterte has been mayor for 22 years, they said. Duterte won the largest share of the votes in the May 9 presidential election, according to an unofficial count by a poll watchdog, although the official result has yet to be confirmed. On Monday, he said he would give four cabinet positions to the communists, including responsibility for an agency tasked with allocating land to poor farmers. Land usage has been a factor in the on-off, fourdecade conflict between

government troops and Marxist guerrillas that has killed 40,000 people. Duterte also offered a portfolio to exiled CPP founder Jose Maria Sison, who welcomed the olive branch but said he would decline a post for himself. Jesus Dureza, a former congressman and aide to Duterte, said NDF spokesman Fidel Agcaoili was in Davao as the incoming government was preparing its position on the peace process. “We are still preparing the new government’s peace roadmap,” Dureza, who will be Duterte’s adviser on peace talks when he takes office on June 30, told Reuters. Manuel Quinob, a peace advocate who has been involved in earlier negotiations, told Reuters talks were scheduled with Agcaoili. Efforts to end the leftist insurgency stalled in 2011 when the government refused to free political prisoners. Political analysts say chances of progress in restarting dialogue are helped by Duterte winning the presidency as he has

good relations with the political left. Duterte has promised to guarantee the safety of Sison, the CPP founder and former Catholic priest Luis Jalandoni if they return to the Philippines. The two senior rebel leaders live in

exile in the Netherlands and have sought asylum there. Sison, who was Duterte’s political science professor when he was at university, was freed by late President Cory Aquino in 1986 and fled to Europe.

In an interview with CNN Philippines on Monday, Sison said he was “very proud” of Duterte and welcomed his moves to seek rapprochement. Experts say one bone of contention could be

Duterte’s support for releasing hundreds of political prisoners. The military and police, which have long been opposed to the communists, declined to comment on any such amnesty.

Diaspora Group Condemns Activities of Fulani Herdsmen Igbo World Assembly (IWA) has condemned what it described as “nefarious activities of the Fulani herdsmen” in the South East , North Central States, and others states across the country. Expressing concern on why the Fulani herdsmen should not be allowed to carry concealed weapons to kill innocent citizens in their communal farmlands, the group in a statement jointly signed by its Chairman , Dr. Nwachukwu Anakwenze , and Oliver Nwankwor, Secretary General, noted that the corporate unity of Nigeria is being seriously challenged by the present administration’s inaction and nonchalant attitude to stop the menace of the herdsmen. IWA posits that“this insensitive behavior and inaction of govern-

ment gives credence to the agitation of Biafra and Oduduwa out of this present chaotic Nigeria. We are of the opinion that the impetus of the killings by the Fulani herdsmen may have been aided by those in the corridors of powers. “Who actually owns the herds? Why are the herdsmen allowed to carry weapons? Why are the security forces in Nigeria not doing their job? Who are behind this systematic agenda?Who regulates the activities of the herdsmen and their herds?”, the group asked. With this development, IWA in the statement has called on Southern Governors, Senators, members of the House of Representatives and State Assemblies to act and defend their citizens. According to the group,“What

we do not want is to reach a situation whereby citizens will arm themselves and protect their lives and properties”. Accordingly, IWA noted that the first duty of the government is the protection of lives and property of its citizens, adding that it is illegal for citizens of Nigeria to possess and bear arms. “Yet the marauding herds men are violating the second point above and the tiers of governments are not performing their duties per the first point leaving the impression that there might be a collusion between the herdsmen and the governments. To make matters worse the representatives of the people, such as the members of the Senate and the House also leave the impression that they are

in on this conspiracy”, IWA added in the statement. The group therefore demanded that the governments of the affected states and zones should immediately establish rules controlling the movement of animals within their areas and enforce the rules aggressively. It also posited that the government should as a matter of urgency provide shelter, food, clothing, drinks, medicine and funds to the victims; pointing out that the owners of the castles should be arrested and questioned by the government. The group further demanded that the power to regulate agriculture is in the concurrent list of what both the federal government and the states can do.

T H I S D AY • WEDNESDAY, MAY 18 , 2016

BUSINESS/MONEYGUIDE

Investments in Agriculture in Africa Rises to $2.3bn Obinna Chima Africa’s agriculture sector is at an inflection point and could grow significantly in the coming years with the right investments and policy actions. This was the submission of business leaders, government officials and others who gathered for the 2016 Grow Africa Investment Forum in Kigali recently. The Grow Africa partnership reported that over $500 million in new private-sector investments were implemented in 2015, bringing the total to $2.3 billion implemented out of over $10 billion committed by more than 200 African and global companies. In the past year, these investments reached around 10 million smallholder farmers and created 30,000 jobs,

bringing the total number of jobs created to 88,000 since 2012. In the first quarter of 2016, almost $500 million in additional investment commitments were made, suggesting that investor interest remained strong. However, investors have substantial concerns about the enabling environment for African agriculture, according to a survey conducted by Grow Africa. Business leaders believe that better access to finance and risk management tools, infrastructure, and policy and regulatory improvements are needed – but out of over 130 company responses, almost 70 per cent reported seeing no improvement on these fronts over the past year. “Agriculture is the sector that will transform Africa. Our

industrialisation will be driven by value-added processing of our agriculture products. However we need to tackle key bottlenecks like infrastructure and farmers’ access to finance and markets,” President of Kenya, Uhuru Kenyatta said. Also, the Prime Minister of Ethiopia,Hailemariam Dessalegn outlined the significant progress to date in boosting Ethiopian agriculture. “African economies have agriculture as their backbone. We need to commercialise and modernise smallholder farmers to realise this potential, and the private sector can play a major role. With greater investment and government commitment, we are seeing greater productivity as well as better livelihoods for farming communities,” he noted.

PTAD Pays Benefits to Next-of-Kins of Deceased Pensioners The Pension Transitional Arrangement Directorate (PTAD) has revealed that it has paid benefits and entitlements to over 500 Next-Of-Kin (NOKs) of deceased parastatals’ pensioners under its Universities and Colleges of Education category. This, according to a statement, followed a validation exercise, which took place in the six geo-political zones in the country recently.

During the validation exercise, PTAD updated the data of NOKs previously verified by the National Pension Commission (PenCom) between 2008 and 2012 during the Parastatals Pensioners Verification Exercise (PPVE) Phase 1. This payment was in fulfillment of the promise by PTAD management that all NOKs would be paid their entitlements. “Payments have been made to

NOKs of the various agencies confirmed in letters signed by the CEOs of these institutions or their immediate delegates. NOKs are hereby encouraged to contact their pension desk officers to ensure that PTAD’s letter requesting confirmation of their identities is appropriately and expeditiously responded to. PTAD is working hard to ensure all qualified NOKs are paid their due entitlements,” the statement added.

National Licence: Sultan Tasks Jaiz Bank on Customers’ Demands James Emejo in Abuja The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III has commended the management of Jaiz Bank Plc for obtaining a national banking Licence to administer Islamic banking services across the nation. The apex bank’s final approval was granted the bank last Friday. He, however, challenged the bank not to drop the guard but strive to meet the expectation of Nigerians. Speaking in Abuja when he received top management staff of the bank, led by its

Chairman, Alhaji Umaru Abdul-Mutallab, the Sultan enjoined the bank to justify the license by offering innovative products and services to customers. He said: “And I challenge you that the real problem starts now...achieving a national license is just one thing and meeting the demands of the people is another.” Nevertheless, he commended the management for achieving the milestone after a long wait. Noting that islamic banking is anchored on ethics and morality, he said it’s rules and regulations were meant

to suit both Muslims and Christians, and urged them to take advantage of the services. Abubakar said: “So it’s not only for Muslims but for everybody but we follow the rules and regulations of Islam which I believe all of us here know what Islam is as regards relationship between all of us as human beings and the one who created us.” He pledged his unflinching support and cooperation with the bank adding that with the array of experienced top management staff “I believe the sky is the limit” for the bank.

Venture Capital Summit Holds in June Obinna Chima The Venture Capital Advocacy Summit that is expected to facilitate the entrenchment of Venture Capital Culture in the country will hold between 28th and 30th June, 2016 in Lagos. The Summit being organised by Alfe City Company Limited with the support of the Senate Committee on Trade and Investment and the House Committee on Commerce will feature the maiden introduction of the concept of venture capital and provide an opportunity for interaction with international experts and seasoned investors. According to the Chief Executive Officer, Alfe City Company Limited, the organisers, Mr Soji Adeleye, to say

that Nigeria needs a thorough re-engineering at the moment would be an understatement. He added: “Venture Capitalism offers Nigeria and its universally acclaimed entrepreneurial people a new vehicle that could turn that creativity into economic power.” He said the endorsement of the summit by the National Assembly was crucial as the entrenchment of the Venture Capital culture in Nigeria would require legislative underpinning to guarantee the safety of investment of investors. Also, the Chairman Senate Committee on Trade and Investment, Senator Fatimat Raji Rasaki said: “We share the principle and objectives behind this very laudable

program and commend it to all stakeholders across the country. “We hereby convey our commitment to work with you and other stakeholders for the success of the summit and subsequently perform our legislative responsibility to ensure a successful entrenchment of venture capitalism culture in Nigeria.” Similarly, the Chairman, House of Representatives Committee on Commerce, Rt Hon Sylvester Ogbaga said the committee considered the summit’s objectives as very laudable. “I wish to therefore convey the decision of the committee to collaborate with Alfe City Company Limited in that regard,” he said.

Cassava tubers

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 MONDAY 16, MAY 2016 The price of OPEC basket of thirteen crudes stood at $44.37 a barrel on Monday, compared with $43.30 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 18, 2016

Nigeria’s top 50 stocks based on market fundamentals

16-May16

13-May-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

167.10

165.00

1.27%

2,847,468,787,375.50

10.64

15.51

5.72

4.85%

4.36

02 Nigerian Brew. Plc.

123.00

117.95

4.28%

975,279,409,224.00

5.37

21.97

3.38

3.05%

5.49

03 Nestle Nigeria Plc.

722.00

0.00%

572,297,813,944.00

29.95

24.11

3.78

4.02%

15.06

04 Guaranty Trust Bank Plc.

19.20

18.73

2.51%

565,078,641,100.80

3.38

5.54

2.40

9.45%

1.33

05 Zenith Bank Plc

15.03

14.70

2.24%

471,889,301,603.58

3.37

4.37

1.07

12.24%

0.78

06 Lafarge Africa Plc.

74.00

71.20

3.93%

337,062,733,940.00

5.93

12.01

1.21

4.21%

1.84

225.00

0.00%

293,058,248,175.00

4.45

50.58

2.35

1.53%

6.33

14.56

15.06

-3.32%

267,169,465,690.40

1.39

10.81

0.54

4.12%

0.74

350.00

0.00%

193,658,609,550.00

23.48

14.90

1.71

4.55%

0.69

99.75

95.00

5.00%

150,212,346,753.00

0.78

122.06

2.87

0.00%

3.20

11 United Bank for Africa Plc

3.97

3.63

9.37%

144,029,719,498.34

1.64

2.21

0.42

16.53%

0.40

12 Stanbic IBTC Holdings Plc

14.24

14.48

-1.66%

142,400,000,000.00

2.04

7.11

1.23

0.69%

1.29

3.73

3.70

0.81%

133,889,442,114.16

0.42

8.77

0.26

4.05%

0.23

34.35

36.00

-4.58%

129,956,226,187.50

0.32

114.23

2.30

0.14%

17.02

5.21

4.83

7.87%

119,220,007,510.68

2.28

2.12

0.41

11.39%

0.38

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.

22.95

23.00

-0.22%

91,122,448,182.75

1.10

20.96

1.26

5.65%

2.17

18 Dangote Sugar Refinery Plc

6.00

6.05

-0.83%

72,000,000,000.00

0.96

6.29

0.72

8.26%

1.25

19 Oando Plc

5.82

5.29

10.02%

70,041,481,963.08

0.50

10.58

0.11

14.18%

0.40

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

175.00

0.00%

63,104,170,850.00

13.51

12.95

0.98

4.11%

4.11

23.00

23.50

-2.13%

60,357,455,301.00

1.84

12.76

0.19

8.51%

0.60

175.00

170.00

2.94%

59,416,321,475.00

11.92

14.26

0.28

8.24%

3.55

43.50

43.00

1.16%

57,420,000,000.00

1.85

23.26

0.42

3.49%

2.34

25 Transnational Corporation Of Nigeria Plc

1.28

1.29

-0.78%

49,562,876,704.00

0.05

24.59

1.23

0.00%

0.57

26 Sterling Bank Plc.

1.67

1.75

-4.57%

48,079,998,270.42

0.36

4.90

0.46

5.14%

0.53

27 Diamond Bank Plc

2.01

2.02

-0.50%

46,552,381,825.68

0.24

8.27

0.22

0.00%

0.22

19.55

0.00%

37,552,898,765.85

2.70

7.24

0.51

5.12%

0.51

1.29

0.00%

37,377,488,159.67

0.48

2.69

0.25

12.40%

0.20

30 Presco Plc

35.02

0.00%

35,020,000,000.00

3.28

10.68

3.08

0.29%

1.56

31 Cadbury Nigeria Plc.

17.24

0.00%

32,380,203,169.60

3.21

5.38

0.96

7.54%

3.13

0.75

0.76

-1.32%

29,616,279,909.75

0.06

12.60

0.64

0.00%

0.64

33 Cap Plc

40.00

38.50

3.90%

28,000,000,000.00

2.49

15.49

3.82

2.99%

17.73

34 Okomu Oil Palm Plc.

29.11

0.00%

27,768,320,100.00

2.76

10.55

2.85

0.34%

2.30

35 Glaxo Smithkline Consumer Nig. Plc.

22.42

0.00%

26,811,550,860.96

0.81

27.78

0.88

1.34%

2.03

36 FCMB Group Plc.

1.28

1.29

-0.78%

25,347,469,765.12

0.24

5.37

0.17

7.75%

0.16

37 Mansard Insurance Plc

2.29

2.19

4.57%

24,045,000,000.00

0.16

13.83

1.39

2.28%

1.32

38 National Salt Co. Nig. Plc

8.40

8.10

3.70%

22,255,282,375.20

0.79

10.19

1.33

6.79%

3.03

39 Custodian And Allied Insurance Plc

3.70

0.00%

21,762,897,521.50

0.71

5.18

0.73

3.78%

0.83

40 Skye Bank Plc

1.20

0.00%

16,656,361,692.00

0.85

1.40

0.12

25.00%

0.12

41 Honeywell Flour Mill Plc

1.66

1.70

-2.35%

13,164,128,112.28

0.14

12.03

0.27

9.41%

0.63

42 Continental Reinsurance Plc

1.09

1.06

2.83%

11,306,291,300.08

0.21

5.13

0.56

11.32%

0.71

43 Cement Co. Of North.Nig. Plc

7.86

7.39

6.36%

9,877,487,240.76

0.96

7.73

0.71

1.35%

0.92

44 Unity Bank Plc

0.80

0.77

3.90%

9,351,470,353.60

0.54

1.42

0.14

0.00%

0.10

45 UACN Property Development Co. Limited

4.00

4.20

-4.76%

6,874,999,980.00

1.81

2.32

0.64

16.67%

0.22

46 Nigerian Aviation Handling Company Plc

4.15

4.13

0.48%

6,740,507,812.50

0.33

12.47

0.79

4.84%

1.10

47 Wapic Insurance Plc

0.50

0.00%

6,691,369,124.00

0.10

5.16

0.94

6.00%

0.45

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.

0.81

0.85

-4.71%

5,613,465,628.80

0.28

3.08

0.18

5.88%

0.61

50 Fidson Healthcare Plc

2.25

0.00%

3,375,000,000.00

0.50

4.53

0.41

2.22%

0.53

07 Forte Oil Plc. 08 Ecobank Transnational Incorporated 09 Seplat Petroleum Dev. Co. Ltd. 10 Guinness Nig Plc

13 FBN Holdings Plc 14 Unilever Nigeria Plc. 15 Access Bank Plc.

20 International Breweries Plc. 21 Mobil Oil Nig Plc. 22 Flour Mills Nig. Plc. 23 Total Nigeria Plc. 24 Julius Berger Nig. Plc.

28 U A C N Plc. 29 Fidelity Bank Plc

32 Wema Bank Plc.

TOTAL

8,562,351,813,547.56

TOTAL MARKET CAP

9,228,696,673,950.03

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

92.78%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion)

Open Close 13-May-16 16-May-16

Change %

26,441.03 9.10

26,818.77 9.23

1.43% 1.43%

108.66 8.46

109.97 8.56

1.21% 1.21%

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

Table 3 Top 5 Gainers Stock

Open Close Change 13-May-16 16-May-16 %

Oando Plc United Bank for Africa Plc Access Bank Plc. Cement Co. Of North.Nig. Plc Guinness Nig Plc

5.29 3.63 4.83 7.39 95.00

5.82 10.02% 3.97 9.37% 5.21 7.87% 7.86 6.36% 99.75 5.00%

Table 4 Top 5 Losers Stock

Open Close Change 13-May-16 16-May-16 %

UACN Property Development Co. Limited AIICO Insurance Plc. Unilever Nigeria Plc. Sterling Bank Plc. Ecobank Transnational Incorporated

4.20 0.85 36.00 1.75 15.06

4.00 -4.76% 0.81 34.35 1.67 14.56

-4.71% -4.58% -4.57% -3.32%

Trading remains bullish as ASI gains 1.43% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, May 17, 2016 ended on a positive note as the market closed green due to investors’ renewed optimism and confidence which led to increase in market activities. This was further highlighted by positive performances from all NSE Sub sectors; Banking, Insurance, Consumer Goods and Oil & Gas. Trading activities decreased in volume as 320.99 million shares worth N2.11 billion in 4,524 deals exchanged hands today. This is a decrease from the 567.59 million shares worth N3.58 billion in 5,523 deals carried out on Friday. Topping in volume terms was Access Bank Plc, UBA Plc and Transnational Corporation Of Nigeria Plc, while Zenith Bank Plc and GTB Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed positive with a 1.43% (+377.74) increase to 26,818.77 from 26,441.03 the previous trading day. Market Capitalization appreciated in tandem to N9.23 trillion from N9.10 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with an increase of 1.21% to close at 109.97 from 108.66 the previous trading day, while its market capitalization stood at N8.46 trillion from N8.27 trillion of the previous trading day. A total number of 27 stocks gained on the bourse today while 24stocks declined, leaving 44 stocks unchanged. Oando Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.02% to close at N5.82 per share. It was followed by United Bank for Africa Plc with a gain of 9.37% to close at N3.97 per share. Others on the gainers list include; Access Bank Plc, CCNN Plc and Guinness Nigeria Plc, while on the decliners’ list; UPDC Plc led with a loss of 4.76% to close at N4.00 per share. It was followed by AIICO Insurance Plc with a loss of 4.71% to close at N0.81 per share. Others on the losers list include; Unilever Nigeria Plc, Sterling Bank Plc and Ecobank Transnational Incorporated.

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 18 , 2016

MARKET NEWS

Unity Bank Plans to Boost Operations with Fresh Capital Goddy Egene and Eromosele Abiodun Unity Bank Plc is planning to raise additional capital to support its growth initiative, provide efficient banking services and increase lending to the real sector. According to the bank, the fresh capital will also enhance its pursuit of planned growth trajectory especially in

Agriculture financing, SMEs, rural economy and overall financial inclusion schemes already outlined. Unity Bank, which announced its audited financial result for the year ended December 31, 2015, recorded gross earnings of N78.8 billion and a Profit After Tax (PAT) of N4 6 billion. The bank attributed its performance to repositioning strategy, in which, its assets

T H E

MAIN BOARD

were critically stressed-tested resulting in major impairment charges of N27 billion for 2015 as against N17 billion in 2014. Commenting on the results, the Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun said: “With the bank’s repositioning efforts and consistent focus to tap into the emerging opportunities in the enlarged economic space within Nigeria, Unity Bank is

N I G E R I A N

poised to deliver quality banking service to emerging sectors in retail/SME, commercial and the agricultural value chain. The Bank is building strong infrastructure for retail banking and attracting youths for its sustainable banking business by developing customer-centric products to meet the needs of its esteemed customers and build new clientele base. With the bank’s capital raising

STO C K

in the economic activities in the country as well as major regulatory headwinds that impacted earnings during the year especially the Treasury Single Account. She said the vital part of the transformation in Unity Bank has seen the institution also roll out efficient cost containment initiatives and structural changes to drive value creation in all aspects of its operations.

exercise, the year ahead is bright as the effects of the on-going transformation initiatives will surely consolidate Unity Bank as “a retail bank of choice”, culminating in superior financial performance and values to all stakeholders.” According to her, the 2015 performance was achieved in spite of the challenging operating environment characterised by a continued lull

E XC H A N G E

DAILY STOCK MARKET REPORT DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

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

Prices for Securities Traded as of 17/05/2016

Printed 17/05/2016 14:32:59.059

Daily Summary (Bonds) PRICES FOR PREMIUM BOARD SECURITIES No Debt TradingFINANCIAL Activity SERVICES S/N BANKING Daily Summary (Equities) 1 ZENITH INTERNATIONAL BANK PLC BANKING Activity Summary on Board EQTY S/N OTHER FINANCIAL INSTITUTIONS AGRICULTURE 2 FBN HOLDINGS PLC OTHER FINANCIAL INSTITUTIONS Crop ProductionFINANCIAL SERVICES INDUSTRIAL GOODS OKOMU OIL PALM S/N PLC. BUILDING MATERIALS 3 DANGOTE CEMENT PLC PRESCO PLC BUILDING MATERIALS Crop ProductionINDUSTRIAL TotalsGOODS PREMIUM BOARD TOTALS Livestock/Animal Specialties PRICES FOR MAIN BOARD SECURITIES LIVESTOCK FEEDS PLC. AGRICULTURE S/N CROP PRODUCTION Livestock/Animal Specialties Totals 5 OKOMU OIL PALM PLC. 6 PRESCO PLC AGRICULTURE Totals CROP PRODUCTION S/N FISHING/HUNTING/TRAPPING CONGLOMERATES FISHING/HUNTING/TRAPPING Diversified Industries S/N LIVESTOCK/ANIMAL SPECIALTIES 8 LIVESTOCK FEEDS PLC. A.G. LEVENTIS LIVESTOCK/ANIMAL NIGERIA PLC. SPECIALTIES AGRICULTURE TRANSNATIONAL CORPORATION OF NIGERIA PLC CONGLOMERATES U A C N PLC. S/N DIVERSIFIED INDUSTRIES 9 A.G. LEVENTIS NIGERIA PLC. Diversified Industries Totals 11 JOHN HOLT PLC. 13 TRANSNATIONAL CORPORATION OF NIGERIA PLC CONGLOMERATES Totals 14 U A C N PLC. DIVERSIFIED INDUSTRIES CONSTRUCTION/REAL ESTATE CONGLOMERATES CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGERS/NNIG. PLC.CONSTRUCTION BUILDING BUILDING CONSTRUCTION Infrastructure/Heavy Construction Totals S/N BUILDING STRUCTURE/COMPLETION/OTHER 16 COSTAIN (W A) PLC. Real Estate Development BUILDING STRUCTURE/COMPLETION/OTHER S/N DEVELOPMENT INFRASTRUCTURE/HEAVY CONSTRUCTION UACN PROPERTY CO. LIMITED 18 JULIUS BERGER NIG. PLC. Real Estate Development Totals INFRASTRUCTURE/HEAVY CONSTRUCTION S/N REAL ESTATE DEVELOPMENT CONSTRUCTION/REAL ESTATE Totals 20 UACN PROPERTY DEVELOPMENT CO. LIMITED REAL ESTATE DEVELOPMENT CONSUMER GOODS S/N REAL ESTATE INVESTMENT TRUSTS (REITS) REAL ESTATE INVESTMENT TRUSTS (REITS) Beverages--Brewers/Distillers CONSTRUCTION/REAL ESTATE CHAMPION BREW. PLC. CONSUMER GOODS S/N AUTOMOBILES/AUTO PARTS GUINNESS NIGAUTOMOBILES/AUTO PLC PARTS S/N BEVERAGES--BREWERS/DISTILLERS INTERNATIONAL25BREWERIES PLC. CHAMPION BREW. PLC. GUINNESS NIG PLC NIGERIAN BREW.27PLC. 28 INTERNATIONAL BREWERIES PLC. Beverages--Brewers/Distillers Totals 30 NIGERIAN BREW. PLC. BEVERAGES--BREWERS/DISTILLERS Beverages--Non-Alcoholic S/N BEVERAGES--NON-ALCOHOLIC 32 7-UP BOTTLING COMP. PLC. 7-UP BOTTLINGBEVERAGES--NON-ALCOHOLIC COMP. PLC. S/N FOOD PRODUCTS Beverages--Non-Alcoholic Totals 33 DANGOTE SUGAR REFINERY PLC Food Products 34 FLOUR MILLS NIG. PLC. 35 HONEYWELL FLOUR MILL PLC DANGOTE SUGAR PLC FOODS PLC 36 REFINERY MULTI-TREX INTEGRATED 37 N NIG. FLOUR MILLS PLC. FLOUR MILLS NIG. PLC. 38 NASCON ALLIED INDUSTRIES PLC 40 TIGER BRANDED CONSUMER GOODS PLC HONEYWELL FLOUR MILL PLC 42 UNION DICON SALT PLC. NASCON ALLIED INDUSTRIES PLC FOOD PRODUCTS S/N FOOD PRODUCTS--DIVERSIFIED N NIG. FLOUR MILLS PLC.NIGERIA PLC. 43 CADBURY 44 NESTLE NIGERIA PLC. TIGER BRANDED CONSUMER GOODS PLC FOOD PRODUCTS--DIVERSIFIED S/N HOUSEHOLD DURABLES Food Products Totals 46 VITAFOAM NIG PLC. Food Products--Diversified HOUSEHOLD DURABLES CADBURY NIGERIA PLC. S/N PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. NESTLE NIGERIA48 PLC. 49 UNILEVER NIGERIA PLC. PERSONAL/HOUSEHOLD PRODUCTS Food Products--Diversified Totals CONSUMER GOODS FINANCIAL SERVICES Household Durables S/N BANKING VITAFOAM NIG PLC. 50 ACCESS BANK PLC. 51 DIAMOND BANK PLC Household Durables Totals 52 ECOBANK TRANSNATIONAL INCORPORATED 53 FIDELITY BANK PLC Personal/Household Products 54 GUARANTY TRUST BANK PLC. 55 SKYE BANK PLC P Z CUSSONS NIGERIA PLC. 56 STERLING BANK PLC. UNILEVER NIGERIA PLC. 57 UNION BANK NIG.PLC. 58 UNITED BANK FOR AFRICA PLC Personal/Household Products Totals 59 UNITY BANK PLC 60 WEMA BANK PLC. CONSUMER GOODS Totals BANKING S/N INSURANCE CARRIERS, BROKERS AND SERVICES FINANCIAL SERVICES 62 AIICO INSURANCE PLC. Banking 63 AXAMANSARD INSURANCE PLC 64 CONSOLIDATED HALLMARK INSURANCE PLC ACCESS BANK PLC. 65 CONTINENTAL REINSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. DIAMOND BANK76 PLC 77 N.E.M INSURANCE CO (NIG) PLC. 78 NIGER INSURANCE CO. PLC. ECOBANK TRANSNATIONAL INCORPORATED 79 PRESTIGE ASSURANCE CO. PLC. FIDELITY BANK PLC 87 WAPIC INSURANCE PLC INSURANCE CARRIERS, BROKERS AND SERVICES GUARANTY TRUST BANK PLC. S/N MICRO-FINANCE BANKS 89 NPF MICROFINANCE BANK PLC SKYE BANK PLC MICRO-FINANCE BANKS S/N MORTGAGE CARRIERS, BROKERS AND SERVICES STERLING BANK PLC. 90 ABBEY MORTGAGE BANK PLC UNITED BANK FOR AFRICA PLC AND LOANS PLC. 94 UNION HOMES SAVINGS MORTGAGE CARRIERS, BROKERS AND SERVICES UNION BANK NIG.PLC. S/N OTHER FINANCIAL INSTITUTIONS AFRICA PRUDENTIAL REGISTRARS PLC UNITY BANK PLC95 96 CUSTODIAN AND ALLIED PLC 98 FCMB GROUP PLC. WEMA BANK PLC. Banking Totals 100 ROYAL EXCHANGE PLC. 102 STANBIC IBTC HOLDINGS PLC Insurance Carriers, Brokers and Services 103 UNITED CAPITAL PLC OTHER PLC. FINANCIAL INSTITUTIONS AIICO INSURANCE FINANCIAL SERVICES CONTINENTALHEALTHCARE REINSURANCE PLC S/N HEALTHCARE PROVIDERS CONSOLIDATED HALLMARK INSURANCE PLC HEALTHCARE PROVIDERS S/N MEDICAL SUPPLIES LASACO ASSURANCE PLC. MEDICAL SUPPLIES S/N PHARMACEUTICALS AXAMANSARD INSURANCE PLC 107 EVANS MEDICAL PLC. N.E.M INSURANCE (NIG) PLC.PLC 108 CO FIDSON HEALTHCARE 109 GLAXO SMITHKLINE CONSUMER NIG. PLC. UNITY KAPITAL 110 ASSURANCE PLC MAY & BAKER NIGERIA PLC. 111 NEIMETH INTERNATIONAL PHARMACEUTICALS PLC WAPIC INSURANCE PLC PHARMACEUTICALS HEALTHCARE Insurance Carriers, Brokers and Services Totals ICT Micro-Finance Banks S/N COMPUTER BASED SYSTEMS COMPUTER BASED SYSTEMS NPF MICROFINANCE BANKAND PLC S/N COMPUTERS PERIPHERALS COMPUTERS AND PERIPHERALS Micro-Finance Banks Totals S/N ELECTRONIC COMMUNICATIONS SERVICES ELECTRONIC COMMUNICATIONS SERVICES Other Financial Institutions S/N IT SERVICES AFRICA PRUDENTIAL REGISTRARS PLC 118 NCR (NIGERIA) PLC. IT SERVICES CUSTODIAN AND PLC S/NALLIED PROCESSING SYSTEMS PROCESSING SYSTEMS FCMB GROUP PLC. S/N TELECOMMUNICATIONS SERVICES SERVICES STANBIC IBTC TELECOMMUNICATIONS HOLDINGS PLC ICT UNITED CAPITAL PLC GOODS INDUSTRIAL S/N BUILDING MATERIALS Other Financial Institutions Totals 124 ASHAKA CEM PLC 125 BERGER PAINTS PLC FINANCIAL SERVICES Totals 126 CAP PLC HEALTHCARE 127 CEMENT CO. OF NORTH.NIG. PLC 128 DN MEYER PLC. Pharmaceuticals131 LAFARGE AFRICA PLC. 132 PAINTS AND COATINGS MANUFACTURES PLC FIDSON HEALTHCARE PLC

Price List (Equities) MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

453,365.37

14.44

-3.93

483

33,948,104

483

33,948,104

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

128,146.20

3.57

-4.29

405

27,576,696

405

27,576,696

888

61,524,800

6 2,845,764.74 6 12

MARKET CAP(Nm)

PRICE 167.00

1.25

MARKET CAP(Nm)

PRICE

%CHANGE

27,672.93

29.01

35.02

PRICE

%CHANGE

MARKET CAP(Nm) MARKET CAP(Nm)

PRICE

1,900.00

0.95

5 68 MARKET CAP(Nm) 13 2,779.65 86 307.43 47,162.17 86 35,632.03 13 13 MARKET CAP(Nm)

MARKET CAP(Nm)

542.19

12,629 39 11,640 39 39 24,269

TRADES

927

Price List (Equities)

19 19 35,020.00 31

30.00 %CHANGE 34.00 -0.06

PRICE 1.05

%CHANGE

0.77 -5.00 1.13 %CHANGE 20.47 -

0.79

1.16

-9.37

18.55

PRICE PRICE

41.50 %CHANGE %CHANGE

1,078,511 TRADES 1,078,511 12 6 1,102,780

TRADES

VOLUME

208

42,423,644

31,970 0 31,970 TRADES

TRADES

4 TRADES

%CHANGE %CHANGE

6 MARKET CAP(Nm) 24 MARKET CAP(Nm) 7 23,097.01 150,212.35 98 65,884.99 135 991,296.19

2.85 PRICE %CHANGE 118.85 PRICE %CHANGE 20.00 2.95 99.75 99.00 125.02

1.64

MARKET CAP(Nm)

PRICE

%CHANGE

92,885.60

145.00

9 MARKET CAP(Nm) 9

20.00

168.50

PRICE

72,000.00

6.00

61,669.57

23.50

13,084.83

1.65

54 38 28,400.00 6 3,788.48 12 MARKET CAP(Nm) 32,380.20 1 574,675.78 29 MARKET CAP(Nm) 140 1,861.25

0.50

1,185.03

6.65

22,255.28

8.40

4,353.80

11 54 65

5.68 13.86 PRICE 17.24 725.00

0.83 2.17

5.61 19.00 -1.37 -4.86 5.00 6.86 %CHANGE 6.65 1.27 0.42 -0.60

%CHANGE

4.43

-9.59

17.86 %CHANGE 700.00 -4.51-

PRICE

91,122.45

22.95

124,092.12

32.80

MARKET CAP(Nm)

PRICE

11 11

%CHANGE

PRICE

MARKET CAP(Nm)

146,086.26

5.05

%CHANGE

4.46

-3.07

42,151.91

1.82

-9.45

274,142.30

14.94

2.61

35,639.00

1.23

-4.65

560,075.34

19.03

16,239.95

1.17

49,807.42

1.73

82,646.74

4.88

13 21 144,755.31 34 9,000.79 28,930.85 394

21.90 28.00

-0.89 -2.50 3.59 -

3.99

0.50

0.77

-3.75

5,078,941

42,423,644

%CHANGE 5.20

4.00

25,070.00 5,205,009 7,635,453.96 VOLUME 1,344,425.15 39,392 5,492 9,004,949.11 41,932,476 9,004,949.11 446,284 5,078,941

208

0.50

PRICE

1,358,964.30 1,358,964.30 61,992 2,154,839.65 64,076

126,068

88 33,500 88 106 6,740,423 TRADES 65,995 1 6,839,918 3 141 6,839,918 63

28,901 28 28,901 28 TRADES 60,871 8

1,409,214.78 1,409,214.78 VOLUME

VOLUME 0

205,000 205,000

154,716.48 154,716.48 367,652 VOLUME 1,563,931.26 65,118 VOLUME

367,652

65,118

TRADES

VOLUME

637,770

190,900 TRADES 53,000 0 TRADES 15,200 5 63 429,541 1 688,641 131

528,079.00 VOLUME 6,201,924.95 0 VOLUME 293,757.00 2,823 148,652 42,728,789.84 100 49,752,550.79 1,190,838

200

1,342,413

TRADES

VOLUME

4 166,476 4 TRADES 166,476 33 46

2,120,306 1 4 314,421 17 31 40,000 8 119,863 192 TRADES 25 433 87 3,285,739,119 112 TRADES 3,288,334,142 52

18,825 21 98,360 31 52 117,185 580

TRADES

99,050 346 95 99,050 44

28,285,937.95 1,560 VOLUME 28,285,937.95 1,560

1,231,938 631,936

11,610,520.13 5,953,792.96 928,460 55,716.00 238,430 842,442.48 5,149,130 VOLUME 2,736.56 44,720 202,143 4,074,348,894.07 246,863 VOLUME 4,092,814,102.20

2,018,847 10,000

10,100

79,419

253,000

329,518.50 68,567,962.00 405,104 68,897,480.50 7,398,070 VOLUME

132,221 272,883

VOLUME 55,894,640 7,585,601 273,528

9,562,991

381

26,286,196

50 36,887 10 133,117 44 601 170,004 45 32 3,289,575,498 1,744

820,034.75 3,737,067.92 65,765,889 4,557,102.67 3,753,067 2,382,678 4,244,727,629.11 175,365,129 120,036 150,614

0.75

2.67

PRICE

%CHANGE

TRADES

VOLUME

5,336.26

0.77

-4.94

1,752,921

22,890.00

2.18

-4.80

167,000

3,000.00

0.50

142,500.00 11,760.00

14 8 MARKET CAP(Nm) 2 MARKET CAP(Nm) 3 MARKET CAP(Nm) 7 366.17 10 3,210.00 26,811.55 1,019.20 1 1,648.03 1 46 MARKET CAP(Nm)

1 1 MARKET CAP(Nm)

1.04 0.50 0.80 0.50 0.50 0.50 PRICE 1.13 PRICE 1.25 3.50 PRICE 2.81 3.78 1.17

4.10 -4.591.49 -1.2315.60 1.21 16.70 %CHANGE 1.07 -4.24 %CHANGE 1.76 2.95 5.30 %CHANGE 0.63 -2.43 2.16 0.98 -8.59

0.50

14.25

0.07

1.96

PRICE PRICE PRICE 0.50 2.14 22.42 1.04 1.05

PRICE

1.03

0.80 0.90 %CHANGE 0.50 %CHANGE 0.50 %CHANGE 2.06 0.76 -4.89 0.50 -1.89 0.50 5.00 %CHANGE

PRICE

1.08 %CHANGE

PRICE

%CHANGE

MARKET CAP(Nm)

PRICE

1,130.76

10.47

2.46 4.00 %CHANGE 0.85 %CHANGE 14.15 1.31

MARKET CAP(Nm)

31 MARKET CAP(Nm) 7 105 MARKET CAP(Nm) 7 20 MARKET CAP(Nm) 170 42,728.77 2,318.59 893 28,000.00

PRICE PRICE

PRICE

%CHANGE

2 3,962,506 8 2 2,163,396 26 2 278,470 1 790,900 5 85 4,847,312 TRADES 15 1,969,858 15 TRADES 1,204,932 1 8,586,418 4 5 39,752 TRADES 73 501,617 7 192 5,920,564 30,265,725 1 13 162

448 200,107 2,297 276,500 TRADES 5,004,000 0 TRADES 1,000,000 0 TRADES 351,540 1 327,285 4 9 37,708,135 29 13 10 56 56 44,867,577

16,210,255.82 126,180 426,600 3,314,106.88 1,139,543 450,050 4,136,459.40 300 958,864.34 701,012 4,764,206 80,963,793.44 VOLUME 536,495 2,115,552.11 536,495 VOLUME 2,087,767.85 100 25,302,954.71 10,000 10,100 205,645.40 VOLUME 2,064,650 316,018.71 108,450 31,265,802 5,813,502.17 141,424,920.83 1,000 600

1,252,131 18,037,537

160,838.67 251,350.00 2,502,000.00 0 VOLUME 500,000.00 0 VOLUME 720,728.80 1,000 245,325.31 101,250 3,916 1,388,69218,854,067.50 1,943,796 5.00 3,438,654 3,438,654 23,234,315.28

52,729,570

233,405,500 VOLUME

TRADES

VOLUME

TRADES

VOLUME

4,760 0 4,760 TRADES

0 VOLUME

TRADES

VOLUME

1,149,464 9 9 27,041 TRADES 0 31,257,120 TRADES 0 38,035 9 708,255 TRADES 33,179,915 7 10 108,317,977 14

2,830,722.84 104,002.06 26,613,309.20 VOLUME 0 537,985.34 54,609 931,556.31 VOLUME 7,44531,017,575.75 17,809 195,681,762.26 48,059 54,609

VOLUME 0

8.00

40.00

7.86

227.50

0.70

6,031

337,062.73

74.00

114

916,508

784.99

0.99

2.69

614,065 4

4,950.40 4,950.40

54,609

19.08

9,877.49

420,455.00 420,455.00

3,589,889

MARKET CAP(Nm)

82 10,787.65 4,000.00 51 4,224.40 3,869.74 21 2,759.15 25 6,691.37 200 MARKET CAP(Nm) 2,583.90 41 MARKET CAP(Nm) 16 5,250.00 147 3,417.97 11 MARKET CAP(Nm) 5,620.00 15 22,233.45 23,169.17 67 676 2,572.69

374,530.15 421,345.20 795,875.35

VOLUME

43.71 PRICE

186,055 61,710,855

PRICE

MARKET CAP(Nm)

186,055

57,697.20

0.48

186,055

TRADES

MARKET CAP(Nm)

5 5 MARKET CAP(Nm) 18 6,875.00

VOLUME

158,200

13,388

1,572,223.05

MAIN BOARD

DEALS

GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT 824.00 133 PORTLAND PAINTS & PRODUCTS NIGERIA PLC IT Services BUILDING MATERIALS TRIPPLE GEE AND COMPANY PLC. MARKET CAP(Nm) S/N ELECTRONIC AND ELECTRICAL PRODUCTS 1,453.09 136 CUTIX PLC. IT Services TotalsPRODUCTS ELECTRONIC AND ELECTRICAL MARKET CAP(Nm) S/N PACKAGING/CONTAINERS ICT Totals 21,613.79 138 BETA GLASS CO PLC. PACKAGING/CONTAINERS INDUSTRIAL GOODS MARKET CAP(Nm) S/N TOOLS AND MACHINERY Building Materials TOOLS AND MACHINERY INDUSTRIAL GOODS ASHAKA CEM PLC NATURAL RESOURCES MARKET CAP(Nm) S/N CHEMICALS BERGER PAINTS PLC CHEMICALS MARKET CAP(Nm) S/N CAPMETALS PLC 2,164.37 143 ALUMINIUM EXTRUSION IND. PLC. CEMENT CO. OF NORTH.NIG. PLC METALS MARKET CAP(Nm) S/N MINING SERVICES PORTLAND PAINTS & PRODUCTS NIGERIA PLC MINING SERVICES MARKET CAP(Nm) S/N PAPER/FOREST PRODUCTS LAFARGE AFRICA PLC. PAPER/FOREST PRODUCTS NATURAL RESOURCES Building Materials Totals OIL AND GAS Electronic and Electrical MARKET CAP(Nm) S/N ENERGY EQUIPMENT AND SERVICES Products 3,131.35 147 JAPAUL OIL & MARITIME SERVICES PLC CUTIX PLC.AND SERVICES ENERGY EQUIPMENT CAP(Nm) S/N INTEGRATED OIL AND GAS SERVICES Electronic and Electrical Products TotalsMARKET 69,921.14 148 OANDO PLC INTEGRATED OIL AND GAS SERVICES Packaging/Containers MARKET CAP(Nm) S/N PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS BETA GLASS CO PLC. 15,960.90 150 CONOIL PLC 3,951.56 151 ETERNA PLC. Packaging/Containers Totals 267,425.42 152 FORTE OIL PLC. INDUSTRIAL GOODS Totals 63,104.17 153 MOBIL OIL NIG PLC. 9,278.21 154 MRS OIL NIGERIA PLC. OILTOTAL AND GAS 57,718.71 155 NIGERIA PLC. PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS Energy Equipment and Services S/N EXPLORATION AND PRODUCTION MARKET CAP(Nm) 156 SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 197,205.60 JAPAUL OIL & MARITIME SERVICES PLC EXPLORATION AND PRODUCTION Energy OIL AND GAS Equipment and Services Totals Integrated Oil and Gas Services SERVICES OANDO PLC MARKET CAP(Nm) S/N ADVERTISING 2,219.52 157 AFROMEDIA PLC Integrated Oil and Gas Services Totals ADVERTISING MARKET CAP(Nm) S/N APPAREL RETAILERS Petroleum and Petroleum Products Distributors APPAREL RETAILERS MARKET CAP(Nm) S/N AUTOMOBILE/AUTO CONOIL PLC PART RETAILERS AUTOMOBILE/AUTO PART RETAILERS ETERNA PLC. MARKET CAP(Nm) S/N COURIER/FREIGHT/DELIVERY 2,352.09 160 RED STAR EXPRESS PLC FORTE OIL PLC.EXPRESS PLC. 254.49 161 TRANS-NATIONWIDE COURIER/FREIGHT/DELIVERY MOBIL OIL NIG PLC. MARKET CAP(Nm) S/N HOSPITALITY HOSPITALITY TOTAL NIGERIA PLC. MARKET CAP(Nm) S/N HOTELS/LODGING Petroleum Petroleum Products Distributors4,614.93 Totals 164 IKEJA HOTEL and PLC 38,382.04 166 TRANSCORP HOTELS PLC Exploration and Production HOTELS/LODGING MARKET CAP(Nm) S/N MEDIA/ENTERTAINMENT SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD 6,000.00 167 DAAR COMMUNICATIONS PLC MEDIA/ENTERTAINMENT Exploration and Production Totals MARKET CAP(Nm) S/N PRINTING/PUBLISHING OILACADEMY AND GAS Totals 381.02 168 PRESS PLC. 655.73 169 LEARN AFRICA PLC SERVICES 2,109.59 171 UNIVERSITY PRESS PLC. PRINTING/PUBLISHING Automobile/Auto Part Retailers MARKET CAP(Nm) S/N ROAD TRANSPORTATION ROAD R TTRANSPORTATION BRISCOE PLC. MARKET CAP(Nm) S/N SPECIALTY Automobile/Auto Part Retailers Totals SPECIALTY MARKET CAP(Nm) S/N TRANSPORT-RELATED SERVICES Courier/Freight/Delivery 1,236.30 175 AIRLINE SERVICES AND LOGISTICS PLC 6,659.30 176 NIGERIAN AVIATION HANDLING COMPANY PLC RED STAR EXPRESS PLC TRANSPORT-RELATED SERVICES MARKET CAP(Nm) S/N SUPPORT AND LOGISTICS Courier/Freight/Delivery Totals 177 C & I LEASING PLC. 941.41 178 CAVERTON OFFSHORE SUPPORT GRP PLC 5,260.30 Printing/Publishing SUPPORT AND LOGISTICS LEARN AFRICA PLC SERVICES MAIN BOARD TOTALS Printing/Publishing Totals Price List (Equities) PRICES FOR ASEM SECURITIES Transport-Related Services CONSTRUCTION/REAL ESTATE AIRLINE SERVICES AND LOGISTICS PLC MARKET CAP(Nm) S/N PROPERTY MANAGEMENT NIGERIAN AVIATION HANDLING COMPANY PLC PROPERTY MANAGEMENT CONSTRUCTION/REAL ESTATE Transport-Related Services Totals CONSUMER GOODS MARKET CAP(Nm) S/N FOOD PRODUCTS Support and Logistics 395.01 180 MCNICHOLS PLC FOOD PRODUCTS CAVERTON OFFSHORE SUPPORT GRP PLC MARKET CAP(Nm) S/N PERSONAL/HOUSEHOLD PRODUCTS Support and Logistics Totals PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS SERVICES FINANCIAL SERVICES Totals MARKET CAP(Nm) S/N MORTGAGE CARRIERS, BROKERS AND SERVICES EQTY Board Totals MORTGAGE CARRIERS, BROKERS AND SERVICES FINANCIAL DailySERVICES Summary (Equities) HEALTHCARE MARKET CAP(Nm) S/N PHARMACEUTICALS Activity Summary on Board ASeM PHARMACEUTICALS CONSUMER GOODS HEALTHCARE INDUSTRIAL GOODS Food Products MARKET CAP(Nm) S/N ELECTRONIC AND ELECTRICAL PRODUCTS ELECTRONIC AND ELECTRICAL MCNICHOLS PLCPRODUCTS INDUSTRIAL GOODS OIL AND GASProducts Totals Food MARKET CAP(Nm) S/N PETROLEUM AND PETROLEUM PRODUCTS CONSUMER DISTRIBUTORS GOODS Totals PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS ASeM OIL AND GAS Board Totals SERVICES Daily Summary (Equities) MARKET CAP(Nm) S/N FOOD/DRUG RETAILERS AND WHOLESALERS FOOD/DRUG RETAILERS AND WHOLESALERS Activity Summary on Board PREMIUM SERVICES FINANCIAL SERVICES ASEM TOTALS EQUITIES TOTALS Banking Price List (ETP) ZENITH INTERNATIONAL BANK PLC PRICES FOR ETP SECURITIES MARKET CAP(Nm) S/N COMPANY Banking Totals 1 LOTUS HALAL EQUITY ETF 531.34 Other Financial 2 NEWGOLD EXCHANGEInstitutions TRADED FUND (ETF) 365.25 3 STANBIC IBTC ETF 30 824.18 FBN HOLDINGS PLC 4 VETIVA BANKING ETF 95.43 Other Financial Institutions Totals FINANCIAL SERVICES Totals 77.94 5 VETIVA CONSUMER GOODS ETF INDUSTRIAL 1,866.46 6 VETIVA GRIFFIN 30GOODS ETF 84.12 7 VETIVA INDUSTRIAL ETF Building Materials ETP TOTALS DANGOTE CEMENT PLC Building Materials Totals Price List (BONDS) INDUSTRIAL GOODS Totals PRICES FOR DEBT SECURITIES S/N COMPANY MARKET CAP(Nm) PREMIUM Board Totals 6 12.1493% FGN JUL 2034 952,186.07 39 15.54%Activity FGN FEB 2020Totals 608,661.15 Equity 42

16.00% FGN JUN 2019

371,675.05

MARKET PRICE

32 4 6 69 69

2.06

QUANTITY TRADED

25.33 0.94 0.69

637,593

1.69 TRADES

185

1,805,033

729,208

TRADES

VOLUME

43.23

1 %CHANGE 4.43 1 1 %CHANGE-

PRICE

%CHANGE

TRADES

VOLUME

PRICE 1.65 PRICE

PRICE PRICE 9.84 PRICE PRICE

PRICE 0.50 PRICE 5.81 PRICE 23.00 3.03 205.32 175.00

%CHANGE

TRADES

50.0047

VOLUME

9.47 0.33

106

2,359,987

-8.75

146,198

2 2

%CHANGE -

90 %CHANGE 90

603

34,514,783

110,515 3,281,075

TRADES

VOLUME

0.5011

PRICE

%CHANGE

TRADES 4

1.95 4.10 PRICE 0.50

5 -1.20 5 %CHANGE

10,000 VOLUME

-4.85

PRICE

TRADES

VOLUME

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

334,226,251

1 %CHANGE 22 23

2.29 TRADES 4.00 0

VOLUME

TRADES

VOLUME

%CHANGE

1.68 5

TRADES 0 5 TRADES 0

92,950

TRADES

VOLUME

TRADES

TRADES 0 0

270,464 270,464 VOLUME 270,464 0 0270,464 0 0

0 92,950

5,513

396,030,056

13,929,679 13,929,679

TRADES

VOLUME

-2.61

3.74 01

4,120

0 10,438,552 5 10,438,552 24,368,231

0.75

12.41

-0.08

19.20

-0.41

4,145

35 35 35 PRICE 619 %CHANGE 88.50 -4.58 105.50 2,432 -0.66 105.80

139.83 8

TRADES 1 1

-0.75

Daily Summary (ETP)

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

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

11.45

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

VOLUME

-0.46 -

10,000 10,000 923,993 VOLUME 3,428,226,216 0 92,950

VOLUME

%CHANGE

-0.61

92,950

VOLUME

1.21 0

278 278 584

2 2 %CHANGE 2 2

306 306 %CHANGE

476,443

TRADES

6.71

4,588 251,094 255,682

271,262

4,581

PRICE

2.61

538,430.00 538,430.00

300

171,262

476,143

PRICE

72.00

624,500 624,500

1,267,208

-5.00

2,435.00

127,756.40 127,756.40

100,000

VOLUME

%CHANGE

8.57

32,870 32,870

TRADES 15

1 PRICE %CHANGE 1 43 PRICE 1,811 %CHANGE

PRICE

470.50 470.50

0 VOLUME

3.8024 27

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

941 941

0 TRADES

0.8965

1.33

PRICE

VOLUME

0.50 0

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

3,464 33,423

TRADES

13 13

PRICE

18,624

1.57

389,934 389,934 4,473,488 11,335

10,000

%CHANGE

700

TRADES 4

1 %CHANGE 1

1,000

456,880

PRICE

81,125 100,300 18,100 20,300 19,100 16,295 VOLUME 0 13,699 VOLUME 456,180231,719 0

VOLUME

PRICE

VOLUME

4.89

%CHANGE

VOLUME

TRADES

0.85

PRICE

13,288,632.05 13,288,632.05

VOLUME

318.00 1

5.05

3,827,573 100 3,827,573 100

3.47 TRADES

33 0.50 33 PRICE %CHANGE 0.63 189 -

2.22

12,131.00 12,131.00

19,577 37,861,336

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

24,262 24,262

19,577

1,021

204,240.00 204,240.00

161,289

PRICE

24,529 24,529 15,152,108 30,196

472,890

338

TRADES

1.28

45,901

34,514,783

TRADES 18.34 0 1.84 TRADES 1 342.00 5 6 150.00 TRADES 145.00 0

PRICE

134,500 134,500

45,901 VOLUME

603

%CHANGE

3.99

VOLUME

%CHANGE

5 5 87

TRADES

21 %CHANGE 7 %CHANGE 8 21 %CHANGE 7 %CHANGE 64 -4.72

PRICE

1.5169

PRICE PRICE

VOLUME

6 6 %CHANGE -0.17

0.50

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

24.00 TRADES 9.30 0 TRADES 35.78 2 8.62 2 TRADES 3.36 0 TRADES 80.50 0

-2.86

PRICE

110,727 40,229 VOLUME 26,700 200 200142,300 VOLUME 299,900 0 VOLUME 14,373,223 0 200 14,993,079

16 9 %CHANGE 4 %CHANGE 6 %CHANGE 10 31 %CHANGE 76

36.53

350.00

805.00 805.00 805.00

2,534,251

197

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

500 500 500

VOLUME

170.00 PRICE

BONDS TOTALS

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

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

VALUE TRADED ( N)

159,605,439.23 159,605,439.23 39,515,087.18 39,515,087.18 199,120,526.41

38,770 38,770 38,770 VOLUME 24,407,001 1,057 100 3,452,903,681 4,145

100

1,257

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

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

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

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

FG to Migrate Military Payroll to IPPIS before Year-end Defence ministry backs plan to audit military payroll 700 MDAs on GFMIS, about 400 on IPPIS

Ndubuisi Francis and Kasim Sumaina in Abuja The federal government has disclosed its plan to migrate the military and paramilitary payroll to Integrated Payroll and Personnel Information System (IPPIS) before the end of the year. The IPPIS is one of the federal government’s financial management reform initiatives introduced by the previous administration, which is aimed at improving the management of human resources and eliminate fraud in the public service. The Minister of Finance, Mrs. Kemi Adeosun, who spoke in Abuja yesterday at a meeting between Defence Ministry officials, top personnel of the Armed Forces and the Continuous Audit Team of the federal government, noted that one of the new initiatives of the administration was to continue with programmes that plug leakages in the system, adding that the payroll was of particular interest. “And we have, as you know, had some challenges about the report carried out about the payroll of the Armed Forces. We do have a plan to put all the military and paramilitary in our IPPIS before the end of the year. “In the interim, we just know that it is necessary to respond to the allegations and revelations of the excesses on the payroll. We want to investigate whether or not it was true and to ensure and assess that whatever excesses we find, we block them and those linkages so that in future, it will be effective and adequate. “I think that is how it’s felt for those who are there. They have to be reassured, otherwise there is a level of suspicion over those who are still making things done. So, it is about this that I discussed with

the Minister and the Permanent Secretary (Defence) on the need to continuously retain and do some work with the military, so that we can through this ensure that every naira that is going to the military for their payroll is actually valid and is being spent for the purpose that it is being expected,” Adeosun said. She expressed appreciation to the Ministry of Defence for its cooperation on the matter, adding that while she was preparing to embark on the exercise, they even spearheaded the initiative and approached her, requesting for the audit. At the meeting yesterday, the Ministry of Defence expressed total support for the ongoing move by the federal government to audit the payroll of the military, including those of the Army, Air Force and Navy as consultations commenced between government officials and top military personnel. The Permanent Secretary Ministry of Defence, Mr. DanjumaNanpon Sheni, who spoke to journalists in Abuja after a session of consultations between defence officials and the Continuous Audit Team of the federal government, preparatory to the impending audit of military payroll, said his ministry was in total support of the initiative. The audit, he noted, had become inevitable in order to usher in integrity and transparency to the payroll of the armed forces. “The first point that I want to make is that this initiative would not have come at a better time. As the minister of finance just mentioned to you, both the Minister of Defence and I have been particularly concerned with the advice both in the papers about certain activities concerning the payroll of the armed forces.

“And they have actually begun a process and the process was brought to the Minister of Finance and we are very comfortable that appropriate actions are being taken here today. “We have no doubt in our minds that this initiative will rather bring integrity and transparency to the personnel payroll of the armed forces and therefore, I speak on behalf of the Minister of Defence when I say we are fully supportive of this initiative; not just the ministry, but the services. “I speak on their behalf too, including the services; the Army, Navy and the Air Force are fully on board in this one. It is an initiative that we welcome proactively and we look forward

to the conclusions as soon as possible of this committee’s work. “Ultimately, I think it is better for the Armed Forces, the ministry and the country. I think I will leave it at that for now. Minister, we are fully in support of these services,” the Permanent Secretary said. In his remarks, the Director, Special Projects and Head, Continuous Auditing Team of the ministry, Mohammed Dikwa, said the meeting was in line with the government’s directives to audit payrolls and review, where necessary, and also improve the integrity and efficiency of the payrolls. Dikwa disclosed that trainings had been organised for the military accounting officers to

get acquainted with the workings of the IPPIS, which the Federal government is determined to bring the three services to be part of. According to him, about 700 ministries, departments and agencies (MDAs) are on Government Financial Information Management System (GFMIS), which aims to implement a single government financial system to support the financial administration process. The IPPIS is one of the federal government’s financial management reform initiative which is aimed at improving the management of human resources and eliminate fraud in the public service, he said, has about 400 MDAs already

captured in the platform. Apart from the desire to achieve efficiency and the integrity in accounting system of all MDAs, Dikwa stated that the government was also intent on reducing the cost of governance considering the sliding oil prices at the international market. The present administration, he added, was not comfortable that over 70 per cent of government’s revenue is being spent on cost of governance, while less that 30 per cent is left for capital projects. Adeosun had last weekend directed an investigation into the armed forces payroll, including that of the Air Force, Navy and the Army by the Continuous Audit Team of the federal government.

FEMALE MATTERS

L-R: Oyo State Governor, Abiola Ajimobi; Founder Access Basic Medical Care Foundation (ABC) and wife of the governor, Mrs. Florence Ajimobi; Wife of Osun State Governor,Mrs. Sherifat Aregbesola; and Wife of Ekiti State Governor, Mrs. Feyisetan Fayose, at a high-Level meeting on female genital mutilation held at Old Western-hall Secretariat, Agodi, Ibadan....yesterday Felix Ademola

CJN Seeks Collective Efforts to Stop Corruption

IPOB: How Buhari Encourages Biafra Self-determination

Tobi Soniyi in Abuja

Emmanuel Ugwu in Umuahia

The Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed yesterday in Abuja called for a collective effort to stop corruption from destroying the country. He spoke at the presentation of a book on how to tackle corruption edited by Mallam Yusuf Ali (SAN). Mohammed said there was need to seek pragmatic strategies to advance the fight against corruption and improve the perception of potential foreign investors about Nigeria, especially concerning the ease of doing business as reflected in the World Bank indices, which have consistently scored Nigeria low, due in part to corruption. The CJN said: “It is a known fact that like a cancer, corruption has metastasized into the fabric of the country and there is an urgent need for a conscious, concerted and coordinated effort to ensure that we do all that is necessary, to rid our dear country of this menace.” He said the book came at a time when the whole country appeared to have developed a resolve to

present a united front against the cankerworm of corruption. Mohammed said: “Led by the government of the day and indeed the Chief Guest of Honour (the vice president) the collective determination to exterminate it from our country, has never been greater. “Nigerians, for the first time in recent years, now have a common cause and reason to pursue the fight against corruption and have shown a commitment to publicly challenge same. “The security agencies appear to be more proactive in tackling corrupt persons and cases are starting to come to our courts. “Nevertheless, it is too early to pat ourselves on the back and too late to adopt a fire brigade approach.” He said the pandora’s box of corruption had indeed been opened and become institutionalised, necessitating the radical surgery of reform and sanction to begin the slow recovery of the nation back to health. Justice Mohammed noted that in the legal corruption was occasioned when our lawyers

traded the years of sweat spent in attaining membership to the Bar, for the shortcut of being used as a conduit to solicit bribes for or on behalf of corrupt elements either within or outside the courts. According to him, a number of lawyers within the profession no longer uphold the law but in fact devise ways of truncating the conduct of trials and the diligent dispensation of justice, through frivolous applications and baseless objections that owe more to personal, rather than professional, considerations. He said: “Our prosecutors are overwhelmed, seemingly out of their depth in more complex financial crimes and therefore prone to delay. “Given these shortcomings and deliberate ills, there is a veritable atmosphere which provides the avenues for corruption to thrive.” Nevertheless, he warned that, “we must be mindful of the warning by the German philosopher, Frederick Nietzsche who stated that, ‘Whoever fights monsters should see to it that in the process he does not become a monster.”

The Indigenous People of Biafra (IPOB) has taken a critical assessment of President Muhammadu Buhari’s policies in the last one year, saying he has wittingly and unwittingly encouraged the rising wave of agitations for Biafra’s selfdetermination through his actions. Aside from IPOB, the nascent Niger Delta Avengers (NDA) has joined the clamour for self-determination, calling for an independent Niger Delta region just as IPOB is agitating for an independent Biafra. In a statement issued by the duo of Emma Mmezu and Dr. Clifford Iroanya, IPOB spokesmen, the group said the president “has significantly catalysed and fast-forwarded the restoration of the nation of Biafra.” According to IPOB, “Without the efforts of Buhari, the crescendo reached today on the return of the nation of Biafra would not have

been possible,” citing “the of State Services (DSS) that genocidal killings of Biafrans deceived him into believing from August 2015 to February that incarcerating the leader 2016, and to the utter disregard of IPOB, Mazi Nnamdi Kanu, will work in his favour.” of court orders.” IPOB said: “From his (Buhari) The pro-Biafra organisation noted that former President, terrible public utterances to his Dr Goodluck Jonathan, had, by divisive and sectional government ignoring it, made it irrelevant policies, through his placement but his successor, Buhari “has of only Hausa-Fulani people in steadily and consistently his ‘kitchen cabinet’, to the worked in the favour of the killing of Biafrans and Shiite re-emergence of Biafra” by Muslims, Buhari has worked haunting pro-Biafra activists. tirelessly for the balkanisation Buhari has vowed that he of Nigeria. There is also his would crush any group with belief in using weapons and separatist tendencies, adding brute force to solve simple that Nigeria would never be political problems. IPOB is allowed to disintegrate under happy for this leadership style his watch, but IPOB said the for Buhari. “We pray that he continues president’s propensity to resolve every problem with force was unceasingly. Even the illegal already working against the incarceration and unconstitutional prosecution of the leader of IPOB unity of Nigeria. “There are several factors that have worked maximally to the propelled Buhari to quicken the favour of Biafrans. We urge restoration of Biafra,” IPOB said, Buhari to continue and not to citing the “despotic” attitude stop because we want to see of President Buhari and “the the independent nation of Biafra misinformation he received from come very soon and Buhari is his incompetent Department speedily bringing it to fruition.”

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

FG Plans Accelerated Exploration of Solid Minerals, Targets 5% Contribution to GDP Seeks amendment of law to allow states participate in exploration Damilola Oyedele inAbuja The federal government has disclosed that it plans to embark on massive exploration of solid minerals to achieve a target of five per cent contribution of the sector to national Gross Domestic Product (GDP) within the next five years. It therefore called for an amendment to the solid mineral exploration law to allow for more participation by states and host communities as a way to develop the sector. The Minister of Solid Minerals Development, Dr. Kayode Fayemi, said these when he addressed members of the House of Representatives at the continuation of sectoral debate

aimed at discussing economic diversification yesterday. Section 44 (3) of the 1999 Constitution, as amended, vests the control and management of all minerals deposits and natural gas on land and in waters in the federal government. He fielded questions from the lawmakers at the session presided over by House Speaker, Yakubu Dogara. The minister lamented that while the non oil sector contributed between 40-45 per cent to national economy in the 1960s, it now contributes a measly 0.33 per cent. He disclosed that Nigeria lacks the data on quality, quantity and viability of the solid minerals within its borders, and has not

shown much interest in rectifying these to attract investors into the sector. “In 2015, Burkina Faso spent $150 million on exploration of their solid minerals resources, Ghana spent $120 million, Nigeria spent only $300,000... but the truth is if you don’t dig, you don’t find,” Fayemi said. There is no official record of gold being explored in the country, Fayemi said but cited intelligence reports which have shown that Nigerian gold is being sold in

the international market. “The gold is taken from Nigeria to Ghana to be stamped because you cannot sell unlicenced gold in the international market,” he added. Speaking on the right of states to explore solid minerals, Fayemi maintained that the exclusive rights belong to the federal government. There is however nothing in the law that suggests that states cannot participate in exploration, he said, recalling that several states

have already established solid minerals exploration companies in partnership with the private sector. “If we will make a headway in mining, states and host communities must play active roles,” he noted, adding that the states would benefit from 13 per cent derivation as is being done in the oil sector. This would however only be possible if the laws are amended. He also assured stakeholders

that the federal government has no plans to criminalise the activities of ‘informal’ miners who are widely regarded as illegal miners. The over five million people involved in informal mining would be trained and equipped so they can participate in the junior mining sector, Fayemi said. The government is also focusing on steel, and is working to resolve all legal issues surrounding the Ajaokuta steel company to ensure its revival, he added.

Ambode Mulls Partnership with Microsoft INC On Security, Justice Reforms Lagos State Governor, Mr. Akinwunmi Ambode, on Monday said the state government would explore areas of cooperation with Microsoft International especially in the area of improving security in the State as well as the justice sector reforms so as to boost service delivery to the people. Ambode who spoke when the President of Microsoft International, Mr. Jean-Philippe Courtois, paid him a courtesy visit at the Lagos House, Alausa, Ikeja, said his administration would take full advantage of the existing cooperation between the state government and Microsoft and utilise technology to engender more efficient and prompt service delivery to Lagosians. He said: “I want to let you know that the area that you have spoken about are areas that are of interest

to this administration. I am very high on wanting to see major issues that relate to security and judicial sector reforms and again beyond the fact that when you put a whole lot of things in place. “We are also aware that technology will drive us to the point where we really want to make Lagos a globally competitive city and so for Microsoft to come to partner with us is a thing of joy, I want to commend you for making this visit for also opening up to our officials here, that whatever it is that is in the scale of business here that we have taken, this is the time now to take advantage of this particular visit in the areas of judicial sector reforms, safety and other areas of delivering services to our people in a more faster and efficient way.”

S’Court Dismisses PDP’s Application to Remove Tambuwal Tobi Soniyi in Abuja The Supreme Court has dismissed application by the Sokoto State chapter of the Peoples Democratic Party (PDP) and its governorship candidate, Senator Abdallah Wali, to join as parties in a suit filed by a member of the All Progressives Congress (APC), Senator Umaru Dahiru, challenging the nomination of Governor Aminu Waziri Tambuwal as the candidate of APC in the April 2015 election. Justice Sulaiman Galadima, who presided at the hearing of the PDPand Wali’s application to join the appeal, described the applicants as interlopers who should not take part in a matter purely involving another party. Even though the state PDP had announced that they would not challenge the election of Tambuwal in 2015, they however, through case number SC/67/2016, sought to be joined as parties in Dahiru’s suit on the grounds that if the suit succeeded, Wali should be declared winner of the election. In their application to join the appeal, Wali and PDP contended that having participated in the 2015

governorship election, and having scored the next highest number of votes cast after that of Tambuwal, they had sufficient grounds to be joined in the case. They said the reliefs sought by Dahiru would have an effect on the outcome of the Sokoto governorship election by creating a vacuum. “That the vacuum likely to be created by the success of the appellant’s appeal can only be filled by the applicant who scored the next highest returned votes,” they argued. Justice Galadima however struck out the application, foreclosing any move by the PDP to get APC removed from power in Sokoto through the back door. No date yet has been set for hearing on the interlocutory appeal filed by Senator Umar Dahiru challenging the ruling of the Appeal Court which held that his case at the Federal High Court against Tambuwal’s emergence as APC candidate for the April 2015 governorship election could not proceed since it had been overtaken by events and had become an academic exercise.

BUSINESS VISIT

L-R: Chief Financial Officer, Agro-business, Tropical General Investments (TGI) Nigeria Limited, Mr. Sumit Jain; Executive Director, Asset Management Corporation of Nigeria (AMCON), Mr. Kola Ayeye; Group Managing Director, TGI Group, Mr. Rahul Savara; Executive Farming and Agro-business, TGI Group, Mr. Raheev Singh; and Head, Manufacturing and Agric Department, AMCON, Mr. Najib Suleman, when the management of TGI Group paid a business visit to AMCON in Lagos...yesterday

We’ll Continue to Execute People-oriented Projects, Says Ambode Inaugurates Brown street, Okota road, water works, others Gboyega Akinsanmi Lagos State Governor Mr. Akinwunmi Ambode, yesterday said his administration would continue to give priority attention to the execution and completion of projects needed to make life meaningful for residents of the state. Ambode, who was represented by members of the State Executive Council at the inauguration of several local and state government projects in different locations in commemoration of his first year in office, said he intends to keep to his promise to residents that he would run an open government of inclusion that will not leave anyone behind. At Ifako-Ijaye Local Government Area of the state, the governor, who was represented by the Commissioner for Tourism and Culture Mr. Folorunsho Folarin Coker, inaugurated Oluwasijibomi, Folorunsho Streets and Iju Primary Health Care Center, Lonlo saying the era of spending tax payers money on white elephant projects not needed by the people were gone in the state. He said the state had experienced improved physical and urban development, proper land administration and illumination of its highways and streets. The governor appealed to monarchs and communities leaders to address the menace of cultism, miscreants and hoodlums

and promote peace and clean environment at all times. In Alimosho Local Government Area, the governor inaugurated the Mosan Okunola Mini Waterworks after over 20 years of being moribund. Represented by the Group Managing Director of Lagos State Water Corporation, Muminu Badmus, Ambode said the state now has 33 mini waterworks and five major waterworks. Badmus said the administration of the governor was on a steady journey to achieve the daily production of 540 million gallons of water to meet the demand of about 22 million population of the state, adding that presently, the state is producing 210 million gallons of water per day. Earlier, the Executive Secretary of Mosan Okunola LCDA, Mrs Opeyemi Akindele, said the water project was an eloquent testimony of a promise kept and delivered. Also, a community leader and pioneer Chairman of Mosan Okunola LCDA, Elder Abel Gbadejo, said just in less than a year in office, Ambode has performed creditably well, adding that the water project would improve the life style of people in the area because water is very important. In Oshodi Isolo Local Government Area, the governor inaugurated the popular Brown Street, Okota Road in Isolo and a Police Post in Ejigbo Local Council

Development Area of the state. Brown Street had been in dilapidated form for years until the state government awarded the contract to Messrs Lubrik Construction Company Limited in October, 2015 to rehabilitate and upgrade the road. The road, with a length of 690metres, has the economic importance of improving the standard of living in the area, enhance property values, abate flooding in the area, improve traffic flow and shorten travel time for road users. Other projects inuagurated are the upgraded Okota Road and the Ashamu Police Post in Ejigbo. Speaking at the inauguration of Brown Street, the governor, who was represented by the Commissioner for Local Government and Community Affairs, Muslim Folami, said he had promised during his inauguration to run a government of inclusion that would not leave anyone behind and where everyone would have a voice. He said his government had worked to promote active collaboration among all tiers of government with the community development as the centre piece. In Ejigbo, the governor inaugurated the rehabilitated Ashamu Police Post in Ailegun, Ejigbo and handed it over to the police. Area Commander, Salisu Gyadigyadi, who represented the state Police Commissioner, Fatai

Owoseni, while commending the governor said the importance of citing the Police Post at Ailegun could not be over-emphasised as it would checkmate criminal activities around the area and also checkmate the influx of undesirable element in Ejigbo and Ijegun areas. He appealed to community members to support the police in fighting crime by giving out useful information that would lead to nabbing criminals. In Ojo Local Government, Areas Ambode naugurationthe Usman Mogaji Road and the Data Capturing Centre. Represented by his Special Adviser on Urban Development, Mrs Yetunde Onabolu, the Governor told the residents that his administration would not renege on running a transparent government, just as he vowed to make the dividends of democracy get to every nook and cranny of the State. At the commissioning of the data capturing centre in Ojo Local Government where all unemployed youth in the area would register and collate their data, Governor assured the residents of making effect use of the centre for engagement of their youths. Also at the commissioning of Usman Mogaji Road in Ajangbadi, the governor advised the residents to make good use of the road and ensure they pay their taxes as at when due.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

Fani-Kayode Still Being Held Despite Meeting Bail Conditions Demands for his immediate release Senator Iroegbu inAbuja The former Minister of Aviation, Mr. Femi Fani-Kayode, has raised the alarm over his continuous detention by the Economic and Financial Crimes Commission (EFCC), five days after meeting his bail conditions. Fani-Kayode in a statement signed by his Special Adviser on Media, Mr. Jude Ndukwe, yesterday, condemned what he described as “the dictatorial, vengeful, vindictive and scurrilous use of the EFCC by the APC-led federal government.” He said the President Muhammadu Buhari-led administration was using the anti-graft agency to achieve “sinister purposes against vocal individuals and members of the opposition,” which he noted has once again played itself out in the macabre of his continued detention, five

days after fulfilling all his bail conditions. Part of the statement read: “We are appalled by this risible development but not surprised at all by it because that has been the hallmark of this current administration. Rather than work to improve on its reprehensible anti-democratic record, the Buhari-led administration has insisted on continuing in its self-engineered free nose-dive into the abyss of autocracy and the infamy of gross abuse of citizens’ rights. “This tactic of keeping key and vocal members of the opposition out of circulation without due regard to our laws and or harass them with charges that cannot stand the test of judicial requirements has got to stop. The sweet smelling savour of democracy will be polluted when the opposition is stifled.” “The continued holding of Fani-Kayode in EFCC custody

Sam Omatseye to Present Book on Jonathan Years The Chairman, Editorial Board of The Nation newspaper, Sam Omatseye, is set to present his latest book, A Chronicle Foretold, on Thursday, May 19 at the Nigeria Institute of International Affairs, NIIA, Victoria Island, Lagos. The event which kicks off by 10am has as its theme, ‘The birth pangs of a new era.’ Published by Sunshot Associates, Lagos, the essays in the book foresaw Nigerians’ dashed promises under Goodluck Ebele Jonathan’s reign as president and some brilliant works by some governors and public officers. “I wrote that the Jonathan era would signpost a wave of squandermania, corruption and failure,” notes Omatseye, whose

column, In Touch, is published every Monday on the backpage of The Nation newspaper. “While others congratulated him, I drew our attention to what I knew would happen. It was not a special insight, but a simple vivisection of the times and Johnathan’s background and the crowd that surrounded him. I was proved right. Hence I call this collection of essays published in The Nation newspaper, A Chronicle Foretold.” A consummate public commentator, Omatseye’s other published works include poetry books Dear Baby Ramatu, Lion Wind and Other Poems, a play, The Seige, and two novels Crocodile Girl and My name is Okoro.

for this long despite meeting his bail conditions goes a long way to show that this fight is not about corruption after all but all about silencing the opposition.” The former Publicity Secretary

forthwith even as we call on all well-meaning Nigerians to know who to hold responsible should anything untoward happen to him. “This act of executive rascality, at a time when Nigerians are groaning

more than ever before over the economic hardship inflicted on them by this administration, is needless. It will achieve nothing but only lead to a puerile end,” he state.

A NATION IN PAINS

L-R: Deputy President, Oodua People’s Congress (OPC), Alhaji Wasiu Afolabi; Founder, OPC, Dr. Fredrick Faseun; and Lagos State Chairman, Unity Party of Nigeria (UPN), Alhaji Koleosho Taofeek, at the press briefing on prevailing economic hardship in the country, in Lagos... yesterday Yomi Akinyele

Osun Assembly Recommends Witness: Metuh Questioned Source of Funds Received from Reinstatement of Sacked ONSA Lecturers Yinka Kolawole inOsogbo

The Osun State House of Asembly has recommended the reinstatement of some sacked teaching and nonteaching staff of the state-ownedtertiary institutions. The Speaker, Hon, Najeem Salaam, droppedthehintduringthepresentation ofthereportofthehouseadhoccommittee investigating the disengagement of the teaching and non-teaching staff of the institution at theplenary. The management of the Osun State Polytechnic, Iree; Osun State College He also urged the recipients to of Technology, Esa-Oke; and the Osun Kaduna Electric has donated N10,000,000 to the students of continue to be role models to the State Colleges of Education, Ilesa and Ila-Orangun, disengaged about 204 Kebbi State University of Science upcoming generation. In a keynote address, Prof. lecturers and non-teaching staff of the and Technology, Aliero, for research B.G Dan Shehu of the Usmanu institution. into renewable energy. The assembly subsequently set up The Managing Director/CEO of Danfodio University, Sokoto, in the company, Mr. Garba Haruna, his paper titled “Renewable adhoc committees to investigate the made the announcement while Energy and Technologies for circumstance surrounding the actions, being conferred with the Man of National Development” described the report of which were presented and the Year award by the Senior Staff renewable energy as the bedrock of adopted following a motion by the 21st century energy development. leader of assembly, Timothy Owoeye, Association of the University. He said developed countries and seconded by the Chief Whip, Haruna expressed the appreciation of the management of are now enjoying the benefits of Folorunsho Bamisayemi. Salaam said the reports have been Kaduna Electric for the honour done renewable energy in almost all to him and the company by the aspects of their lives and called the deliberated upon at the executive senior staff association and revealed attention of the government to give session and justice has been done to that Kaduna Electric would partner a helping hand to the development them, saying the Assembly would all educational and research of renewable energy to the state follow it to the letter to ensure that the recommendations of the house institutes in the country to achieve and Nigeria at large. The other recipients of sustainable development in the the award include Senator power sector. in his address, the Vice Muhammadu Adamu Aliero, Chancellor of university, Prof. B.S Lt. Gen. Ishaya Bamaiyi, Prof. Malami, disclosed that the award Muhammadu Attahiru Jega. Informal Life Science will be was conferred on the managing Prof. M.K Abubakar, Salamatu organising a food exhibition from director and other recipients and Hussaini, Prof. Tijjani Bande, Hon. today, May 18 to May 20 at Eko Indigenes of Kebbi State who Abdullahi Muslim, Alh. Abubkar Hotels Lagos. The event which have contributed immensely to Umar Warrah, Alhaji Muhammad will host 150 international firms the development of the state in Kwaido, Justice Umar Atu Kalgo is sponsored by food vendors in particular and the nation at large. and Kebbi Development Forum. Nigeria, National Agency for Food

Kaduna Electric Donates N10m to Kebbi Varsity for Renewable Energy Research

of Peoples Democratic Party (PDP) Presidential Campaign Organisation, condemned in very strong terms, what he described as acts of intimidation and harassment and request that he be released

are implemented. He said: “I want to say that in the report, people have been reinstated and the committees confirmed where necessary, the decision of the councils. “In the course of the investigations, the committees went through all the records of those involved and the reasons for their reinstatement or otherwise have been stated by the committees in the report. “So, for the lecturers and other affected staffers, there is nothing to fear because, justice has eventually prevail on their matter,” said. According to him, the Assembly during the course of the investigation took into consideration the extent to which it could go as an arm of government, saying, it has not gone beyond its power. He stressed that the adoption of the report by the House has made it compulsory for all concern stakeholders to comply with the directives of the state House of Assembly as stated in the report. Salaam then cautioned the Governing Council of the institution not to go against the decision of the assembly or hide under the matter to make it look as if the lawmaker are loggerheads with the executive.

Food Exhibition Begins Today Drug and Administration Control (NAFDAC), Ogbaru Main market, Ontisha and National Supermarket Operators of Nigeria. According to a statement issued by the organisers, “The event is a platform for international and regional food

Alex Enumah in Abuja A defence witness in the ongoing trial of the National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh, has told a Federal High Court sitting in Abuja that Metuh personally made efforts to verify the source of the N400milllion he got from the office of the National Security Adviser (ONSA) in respect of the payment for publicity for both the Peoples Democratic Party, (PDP) and the then president, Goodluck Jonathan. The witness, Colet Odenigbo, a former US Naval Officer and a consultant to the office of the PDP spokesman made the disclosure yesterday before Justice Okon Abang, while giving his testimony as the Second Defence Witness (DW 2). Metuh and his company, Destra Investments Limited, are being prosecuted by the federal government on seven counts of alleged N400m fraud and money laundering. The EFCC accused the defendants of fraudulently receiving from the Office of the National Security Adviser in November 2014 the sum of N400million meant for procurement of arm. It also accused Metuh of money laundering involving a $2million cash transaction. The prosecution alleged that part of the N400million received from the ONSA was used by Metuh to fund the PDP’s presidential campaign for the 2015 election in which Jonathan was the party’s candidate.

At the resumed hearing yesterday, Odenigbo said he accompanied Metuh to honour the invitation to meet with a panel of the ONSA, where it was agreed that he would be paid N400 million to fund the party’s campaign activities for the 2015 general election. Odenigbo told the court when led in evidence by Metuh’s counsel, Emeka Etiaba (SAN) that Metuh, in that meeting, “asked at the ONSA meeting of the source of the payment for the funding of the PDP’s campaign activities, he was not told, rather, they said they will get back to him, which they never did until he (Metuh) was arrested by the Economic and Financial Crimes Commission (EFCC).” He added that Metuh further told the ONSA panel that he will refund the money if he (Metuh) finds out that the source of the money was not the campaign fund of the party. During cross-examination by the prosecution counsel, Sylvanus Tahir, Odenigbo who claimed that he rendered consultancy services to Metuh, in his capacity as the National Publicity Secretary of the PDP, stated that he had never had any dealings with the ONSA, except the day he accompanied Metuh to the meeting where issues of payment was discussed. Also under cross-examination by Tochukwu Onwubufor (SAN), counsel to Destra Nigeria Investment Limited (second defendant), Odenigbo said he was not aware if Metuh refunded the money, even though he said he will, if the source is not from the party or Jonathan, who was the leader of the party then.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

Ganduje Canvasses Cooperation with Lagos on Grazing Areas, Others Comparative advantage key to economic growth, says Ambode Gboyega Akinsanmi Kano State Governor, Alhaji Abdullahi Ganduje, yesterday sought the cooperation of the Lagos State Government in some strategic areas which include the provision of grazing areas, crime fighting among others. The governor also emphasised the exigent need to learn from the past and present governments in Lagos State, noting that both Kano and Lagos “are two mega cities in Nigeria with common challenges.” Ganduje canvassed the position at the Lagos State House, Ikeja, during a meeting with his Lagos counterpart, Mr. Akinwunmi Ambode, noting that he was in the state “to learn from it experience.” At the meeting, Ganduje pointed out some strategic sectors, where he canvassed cooperation with the Lagos State Government, citing provision of grazing areas, crime fighting, infrastructural development among others.

The governor explained that Kano State “is one of the largest producers of hides. The people who are waiting to consume these items are on this side of the country. “In livestock, with the present problem of herdsmen, Kano State is providing grazing areas in order to improve their socio economic well-being. These are areas that we can come cooperate,” Ganduje said. He therefore said the meeting with Ambode “is a meeting between two mega cities in Nigeria. So, we have come to share our problems. We are mega cities. Everybody is aware that there are some specific problems that mega cities have to confront; problems of security and crime. Ganduje added that the Kano State Government being the commercial nerve centre of northern Nigeria “is leading from the front to revive the agriculture sector especially in the areas of livestock farming.” While speaking, Ambode urged

House Passes Bill Establishing University of Petroleum Resources, Delta State Damilola Oyedele in Abuja The House of Representatives yesterday passed the bill establishing the Federal University of Petroleum Resources, Effurun in Delta State. The bill, sponsored by Hon. Evelyn Omavowan Oboro (Delta PDP) during the seventh assembly, was passed following the consideration and adoption of report of the relevant committees. The university is intended to accelerate the development of the middle and high-level manpower for the oil and gas sector. When the bill is concurred to

by the Senate and signed by the president, the institution which has existed for 10 years would receive legal backing. The university is currently operating from its permanent site sitting atop over 100 hectares of land and has produced four sets of sciences graduates and two sets of engineering graduates. It is to be domiciled in the Federal Ministry of Petroleum Resources and is expected to identify the technological problems and needs of the petroleum industry and find solutions to them within the context of overall national development.

Nigeria Accounts for 70% Maize Production in West Africa Dele Ogbodo in Abuja The Director General of the National Seed Council of Nigeria (NSCN), Mr. Phillip Ojo, yesterday said Nigeria produces 70 per cent of maize seeds in the West African region, making it the seed-leading nation of the sub region. Ojo who spoke at the sideline at the launch of three high yielding conventional maize hybrid brands by Monsanto agriculture company in Abuja, said the development was a step towards food sustainability in the country. While the council plays regulatory roles in seed multiplication and cultivation, he urged the company to carry out aggressive sensitisation to the framers on the need to buy into the seed ideology. According to him, nobody promotes some of the global brands that are making wave across the world today, adding that it is the company that does sensitisation and campaigns. The DG said: “But the

responsibility of the regulator is to ensure that the quality of seeds dished out is good, and that we have to tell our farmers that it is of good quality and that the yield will be good.” In his remarks, the President, All Farmers Association of Nigeria (AFAN), Kabir Ibrahim, commended Mosanto on the launch of the three maize hybrid for Nigerian farmers, adding that the average farmer was desirous of increasing his yield with the right varieties. He said: “Our rating of Mosanto hybrid maize here today is very high, as the Nigerian farmer is looking for good seed that will bring prospect to him. Very soon, I hope they will embrace it, and that is why we came.” Also speaking, the Business Development Manager, Mosanto, Mr. Kehinde Johnson, said the introduction of DEKALB maize hybrids in the country will assist Nigerian farmers optimize their production, earnings and ultimately increase profitability.

states in Nigeria to explore their comparative advantage among themselves especially in the area of agriculture to move the vision of transforming Nigeria economic fortunes for the better. He said no state “can survive on its own, hence leaders in such states must seek to discover

possible areas of partnership that would not only enhance the economy but create jobs for the people. “What is most important right now is how do we take on our comparative advantage to the betterment of our people? We must start to think about

the reintegration of most of the economic activities and advantages that each state has. “We can create factories here and use products from Kano to sell to the rest of the continent. Kano also stands more like an export zone for most of the West African countries around the

zone,” he explained. Ambode said Lagos and Kano share many similarities considering their mega city status, noting that both cities “stand to benefit from each other to tackle the challenges confronting them and enhance their economic productivity.

ENCOURAGING FUTURE LEADERS

L R: Co-Donor, Mr.Muyiwa Ige; Director/CEO, Vale College, Mrs. Funso Adegbola; Representative of the Permanent Secretary, Ministry of Education,Mr. Peter Awosanmi; and Mr. Gbero Adegbola, at the annual scholarship competition for students of public schools in Oyo and Osun States held at Vale College, Iyaganku, Ibadan...yesterday Felix Ademola

Pipelines Attacks by Suspected Militants, Condemnable, Unfortunate, Says Group Tasks Niger Delta youths, elders to tackle situation Sunday Okobi A group Concerned Professionals Congress (CPC), has condemned the repeated attacks on oil and gas pipelines in Niger Delta by militant group called the Niger Delta Avengers (NDA) which claimed responsibility. CPC therefore admonished the youths, elite and elders of the oil-rich region to mobilise and stem the trend before it is too late. The group particularly expressed worries about the scare tactics of the militant gang with the issuance of a two-week ultimatum to owners and operators of oil companies in the region to shut-down, evacuate their staff and leave. In a statement made available to THISDAY, CPC Coordinator, Tukur Tilde, and its Chief Media Strategist, Emeka Nwapa, said the quit order was in bad taste in view of its negative effects on the nation’s critical oil revenue. It said the militants’ mindless bombings would bring untold strain and pressure on the entire region especially the toiling masses for whom the federal government has finalised series of critical developmental programmes. The statement noted that while addressing journalists in Asaba, Delta State, yesterday after its emergency meeting to address the ‘disturbing trends in the Niger Delta’, the pro-good governance advocacy group tasked traditional rulers, community leaders, elders, youths, students, clergy, professional

associations and the elders’ councils of the region to prevail on members of the militant group to stop the bombings which it described as a tinder box. It stated that the reasons given by “the faceless group portrayed them as cheap characters pursuing personal agendas that should be condemned by right-thinking citizens.” The group urged the youths of the region to expose the masterminds of the pipelines bombings, stressing the need for them to resist moves to use their territories for acts of vandalism of strategic national assets thereby capable of plunging the innocent and helpless people of the Niger Delta into more untold hardships. ‘’These so-called Niger Delta Avengers do not stand for the Niger Delta people because nobody supports their senseless bombings and willful vandalism of strategic national assets in their land? Nobody supports such despicable actions which are clearly against the people they claim to be fighting for. “Even before these so-called agitations resumed, President Muhammdu Buhari, in a rare display of statesmanship had indicated a commitment to executing more people-oriented projects in the region such as the immediate cleaning up of Ogoni land (commencing early next month) in compliance with the United Nations Environment Programme (UNEP) Report Implementation and the completion

of the East-West road and the Calabar-Lagos railway,’’ Tilde said. He observed that the resort to pipelines bombings and other criminalities does not address the fundamental issues facing the region but could only jeopardise the core interests of the people of the region including setting them against the rest of the country thereby breeding unnecessary animosity, distrust and disharmony.

‘’The aggravated bombings of critical oil and gas platforms such as Forcados pipeline, Bonga Oil field, Chevron trunk lines particularly the latest issuance of a 14-day quit order to all legitimate operators of oil blocks in the region is purposeless and misguided. We appeal to the good people of the region and other well-meaning Nigerians to rise up and nip this ugly trend in the bud. It is a bad omen,’’ he said.

NRC: 738,738 Passengers Used Train Services in Lagos in Four Months The Lagos District of the Nigerian Railway Corporation (NRC) yesterday said no fewer than 738,738 passengers used its services between January and April 2016. The NRC District Manager, Jerry Oche, disclosed this to the News Agency of Nigeria (NAN) in Lagos. Oche said that all the passengers were conveyed through the corporations Mass Transit Train Services, its Diesel Multiple Units and Express Services. The manager added that a total of 1,575.4 tons of containers were transported through the corporation’s freight train services within the period. “We are doing our best to render best services to the numerous commuters that patronise our operations within the available facility and we will not relent on

our mandate. “We want to carry more passengers and goods to increase revenue for the government. Our concern is punctuality and service delivery. “We will make sure we don’t disappoint our passengers; we will improve on our service delivery. We run 16 trains every day except if there are issues,’’ he said. The manager said that the corporation anticipates more patronage as a result of the increase in the price of petrol. He said that the district had been consistent in running its 16 train services, to meet passengers demand. Oche however urged commuters to desist from riding on the roof tops of moving trains, to ensure their safety.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

ECOWAS Court Asks Dasuki, FG to Argue Their Cases Tobi Soniyi in Abuja The Economic Community of West African States (ECOWAS) Court has called on former National Security Adviser (NSA), Colonel Mohammed Sambo Dasuki (rtd), to open his case against the federal government. The court also ordered the federal government to be ready to open its defence to justify the detention of the former NSA.

While Dasuki will open his case today, the federal government will also argue its defence to the suit tomorrow. The presiding judge of the regional court, Justice Friday Chijioke Nwoke, gave the order in Abuja yesterday at the resumed hearing of the suit instituted by Dasuki challenging his alleged unlawful detention, unlawful seizure of properties and infringement on his fundamental right to liberty.

Oyo Assembly to Pass Bill on Female Genital Mutilation Ugo Aliogo As part of efforts to address the issue of female genital mutilation in Nigeria, the Oyo State House of Assembly will pass a bill aimed at checkmating the practice in the state before the end of May. The state Governor, Senator Abiola Ajimbo, disclosed this yesterday in Ibadan, during the high-level meeting on female genital mutilation organised by his wife, Mrs. FlorenceAjimobi, in conjunction with Action Health Incorporated (AHI) and United Nations Populations Fund (UNFPA). He said the administration is highly committed to tackling the issue, noting that the state would not hesitate to bring the full force of the law to bear on anyone found guilty of any acts of mutilation, harmful traditional practice or act of violence. Ajimbo stressed that the elimination of female genital mutilation is a specific target under goal number five of the Sustainable Development Goals, adding that as a government, they would ensure that all the requisite laws and policies are put in place and enforced in order to achieve this goal. He explained that the female genital mutilation was outlawed by the United Nations in 2012, and by the virtue of the Violence Against

Persons Act 2015 was signed into law during the last administration, adding that it has become a punishable offence in the country along with other harmful traditional practices, “There is an existing legal structure to lend credence to this call for the elimination of female genital mutilation in Nigeria,” he added. Ajimbo added: “According to a United Nations report, Nigeria has the highest number of female genital mutilation cases in the world. This accounts for about a quarter of the 125 million cases identified worldwide. It is sad to note that Oyo state is one of the five states with the highest number of female genital mutilation cases. This indeed calls for sober reflection on our part. “Let me state here that even though the legal framework has been put in place to fight this menace, we must now support it with deliberate action by seriously advocating for a culture shift. Community leaders have a role to play in bringing this issue to its knees. “As influencers of thoughts and opinions of the people your community, you must be able to initialise, enforce and sustain the message of zero tolerance for the issue in your various communities by enlightening them about the dangers of this unwholesome practice.”

Lagos Govt Reopens Lekki Gardens after Buildings Passed Structural Stability and Integrity Tests The Lagos State Government has approved the reopening of buildings belonging to Lekki Worldwide Estates Limited, owners of Lekki Gardens, which were recently sealed after an uncompleted building collapsed at one of the construction sites belonging to the company. Subsequently, the Lagos State Material Testing Laboratory was mandated to carry out integrity tests on all the houses built by the real estate giant to ascertain their structural stability. Reports indicated that the buildings passed the integrity tests and have now been reopened to the occupants. According to a statement credited to the state Commissioner for Physical Planning and Urban Development, Mr. Wasiu Anifowoshe, the buildings were unsealed and the tenants granted permission to return to their houses after results from the tests carried out were examined by a team of construction experts. He said, the integrity test carried

out on the Lekki Gardens buildings was conducted by the state Material Testing Laboratory and the results were forwarded to the Governor, Akinwunmi Ambode, who reserves the right to announce the results. Anifowoshe also revealed that investigations are still on to ascertain the exact cause of the March 8 building collapse. An uncompleted building collapsed at one of the construction sites belonging to Lekki Gardens on March 8 and in the aftermath, occupiers of all buildings erected by the company were evicted from their houses to allow the government ascertain their structural stability. This move affected thousands of families who currently occupy the housing units in the over 30 estates managed by Lekki Gardens in Lagos. The company which began operations in 2011 has delivered about 6,000 home units to clients in Lagos, Port Harcourt and Abuja.

Justice Nwoke, while ruling in a motion by federal government seeking to lead oral evidence against Dasuki to justify his continued detention, said the court, having granted expeditious hearing in the case, would not do anything to defeat the accelerated hearing order. The judge granted the request of the federal government to call two witnesses who are security operatives to lead oral evidence against Dasuki but ordered that the defence by government must be done within one day. He subsequently ordered Dasuki to make out his case of the abuse of fundamental rights against government today while the federal government must put its defence at the disposal of the court tomorrow.

He said: “Having listened to the parties in this matter and the parties having filed and put all necessary documents and exhibits at the disposal of this court and having granted accelerated hearing in this matter, it is in the interest of justice that this case must be expeditiously dealt with. “In this regard, the plaintiff is hereby ordered to make out his case today May 18, and the defendant to ventilate its defence the following day, May 19 after which we will adjourn for judgment.” Dasuki had dragged the federal government before the ECOWAS Court asking it to intervene in his detention without trial since December last year. The ex-NSA asked the court to void his detention, the seizure of his

properties and to bar government from further detaining him without a lawful court order. He asked the court to award in his favour a sum of N500 million as compensatory damages for his alleged unlawful invasion of his house, detention, seizure of properties and infringement on his rights. Dasuki claimed that government had put him on trial in three different high courts on corruption charges where he was granted bail and that after his bail, he was re-arrested on December 29, 2015, and has since been held incommunicado. The federal government, through its counsel, Mr. Tijani Gazali, had argued a preliminary objection against Dasuki on the grounds that

he ought to have filed a contempt charge against the government for alleged disobedience to court order on the bail granted him but the court dismissed the objection. It ruled that the case of the plaintiff was on his fundamental rights and had nothing to do with the domestic court. At yesterday’s hearing, a motion by government seeking to call oral evidence by federal government against Dasuki was granted by the court. Justice Nwoke however lambasted the federal government for filing the motion on notice yesterday adding that the action of government was a ploy to impede accelerated hearing already granted but however said that the request was granted in the interest of justice.

DIVIDENDS OF DEMOCRACY

L-R: Representative of Lagos State Governor and Commissioner for Tourism, Arts and Culture, Mr. Folorunsh Folarin Coker; Executive Secretary, Ifako Ijaye Local Government Area, Mr. Olurotimi Adeleye; and Member, Lagos State House of Assembly, Hon. Saka Fafunmi, at the inauguration of Iju Public Health Centre, Iju, Lagos...yesterday Kola Olasupo

Corruption: Badeh Has No Case to Answer, Group Insists Accuses finance minister of interference in case Sunday Okobi A civil society group, Citizens Watch Nigeria (CWN), yesterday reiterated its earlier position that the immediate past Chief of Defence Staff (CDS), Alex Badeh’s ‘hands are clean’ in the 10-court charge of corruption preferred against him by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Abuja. The group further stressed that Badeh is just a victim of state persecution. “Badeh is being persecuted because of his place of birth and faith and as a result of the coincidence of the status he attained in the military.” This came as a group, Good Governance Project Initiative (GGPI), berated the Minister of Finance, Mrs. Kemi Adesoun, for allegedly interfering in the ongoing court trial of Badeh, saying her involvement in the matter “is pre-emptive, contemptuous, ill-motivated, an after-thought, vindictive.

The group lambasted Adesoun for allegedly directing the Continuous Audit Team in her ministry to investigate the N558.2 million revealed in the court to be allegedly diverted monthly in the Nigerian Air Force. According to a statement issued and made available to THISDAY by CWN Executive Secretary, Omoba Kenneth Aigbegbele, the group said it arrived at the conclusion because the predecessor to Badeh in the Nigeria Air Force, Air Marshal Dikko Umar, was not incarcerated in any prison custody and was given soft landing through bail condition based on self-recognition by Justice Binta Nyako, “because Umar is a member of the core northern establishment whereas Badeh was incarcerated in custody for over one month and given stringent and near impossible bail condition because is a northern minority. The civil society group in the statement further referred to the ongoing trial of Badeh at the Federal High Court Abuja, where the two

principal witnesses against Badeh made incoherent, inconsistent, contradictory, empty, frivolous, unsubstantiated and baseless statements against Badeh. “The presentation by the star witnesses does not stand the test of judicial scrutiny.” It added that the most ridiculous and embarrassing witness statement was the failure of the witnesses to produce any single document to substantiate their testimonies rather they posited they spoke from their residual knowledge. The statement averred that so far, “there is no nexus or connection between the so-called stolen funds and the alleged properties procured by Badeh.” While referring to the popular legal maxim that justice should not only be done but should be seen to have been done, Aigbegbele noted that the ongoing Badeh’s trial has revealed that the federal government has no valid case against him and the matter should therefore be thrown out to avoid wasting

judicial precious time and stop embarrassing a patriotic Nigerian who served the country diligently. However, a statement issued by GGPI President and National Secretary, Innocent Ebirim Okadigbo and Mohammed Saleh respectively, described the timing of the audit and the participation of the Federal Ministry of Finance in the matter as curious, suspicious and an affront on the judiciary. The group queried why the ministry got involved in the matter at the court when the judge had not made any pronouncement on it and why the finance ministry should get involved at this stage when Economic and Financial Crimes Commission (EFCC) is the prosecuting agency, and has the full powers to continue to investigate the matter. GGPI therefore urged the minister to be professional, Godfearing and never to be used to victimise an innocent person and should consequently wait for court’s pronouncement before proceeding with that investigation.

WEDNESDAY MAY 18, 2016 • T H I S D AY

NEWSEXTRA

Aisha Buhari Bemoans High Prevalence of Diseases in Nigeria Paul ObiinAbuja The Wife of the President, Mrs Aisha Buhari yesterday

bemoaned Nigeria’s increasing rate of tuberculosis (TB), placing the country in first position first in Africa and fourth in the world in

terms of tuberculosis. She made the position at the national conference on TB organised by the Stop TB Partnership

Kano Bureau of Statistics Releases 2015 Digest of Public Finance The Kano State Bureau of Statistics has released the 2015 Kano State Digest of Public Finance Statistics. The state’s Statistician General, Baballe Ammani, made the announcement in Kano. According to Ammani, “The document is a regular annual production of the state Bureau of Statistics and it is aimed at providing value added data on the various types and forms of revenue and expenditure of government which are useful for strategic planning and policy formulation as well as impetus into the KPIs to monitor sector plans and the state Development Plan (KSDP). The state is regarded as Northern Nigeria’s commercial centre. Created in May 27, 1967, the state consists of 44 local government areas with a population estimated by the 2006 National Census figures to be about 9,383,682. The state is known for its solid mineral deposits and an agricultural sector that boasts of the country’s highest groundnut production and most extensively irrigated farmlands. The 2015 Kano State Digest of Public Finance Statistics is a comprehensive account of the Kano State financial transactions from 2010 to 2014. It details the various types and forms of revenue and expenditure of the Kano State government. According to the Statistician General, the data for the digest was sourced from the state Office of theAccountantGeneral, Ministry of Finance, Kano, Ministry of Planning and Budget and Kano State Bureau of Statistics (Kanbus). The document shows revenue of the state is broadly classified into recurrent and capital. Recurrent revenue includes taxes, fines and fees, licences, earnings and sales, rent on government properties, interests and dividends on government investments, reimbursement and statutory allocation, whilecapitalrevenueconsists majorly of mineral derivation fund and other revenue like excess crude. The document also classified the state’s public expenditure into two broad groups of recurrent and capital expenditure. Recurrent expenditure include personnel cost, consolidated revenue fund charges, other charges, grants and loans, while capitalexpendituregoestosocialservices, economic sector, environment and regional development and general administration. “The Kano State Bureau of Statistic developed this publication to enable government formulate and implement policies and also to provide a comprehensive account of expenditures from January – December yearly while Budget accounts for January-September annually and projects fourth quarter due to timeconstraint. This publication will be relevant to policy makers responsible for finance, economic development and planning at all tiers of government, the state government, financial institutions, research institutes, individual researchers and international aid agencies.” The released digest is also in line with the state government’s resolve to conduct its affairs with accountability and transparency.

The document is open to public view and assessment. Ammani acknowledged the input of “the many individuals who contributed to making the publication a success as well as in helping to produce this report.” He also acknowledged that the publication “would not have been

possible without the commitment and enthusiasm from the state government, the state Ministry of Planning and Budget, Ministry of Finance, Accountant General’s Office, Board of Internal Revenue and other government agencies/departments who provided the data used in this publication.”

Nigeria (STBPN) and the National Tuberculosis and Leprosy Control Programme (NTLCP), stating that TB had continued to be the cause of several untimely deaths and as such the scourge must be tackled. Mrs Buhari who also is an ambassador to the “Stop TB campaign”, contended that “Nigerians has occupied these positions due to its lowest detection rate when compared to other nations of the world and as such, 600,000 persons are infected by the disease annually and more disturbingly, 60 per cent of the affected are children. Mrs Buhari, who was represented by the wife of the vice-president, Mrs Dolapo Osinbajo, said out of the over 600,000 cases, only 15 per

cent were being detected as about 500,000 cannot access treatment and as a result die prematurely. “Tuberculosis is the number one killer disease in Africa. Nigeria currently is currently number one in Africa and fourth in Africa. Statistics shows approximately 600,000 people become infected with tuberculosis in Nigeria every year. 60 per cent of these new infection affect children. Also, it is the common cause of death in persons living with HIV/ children. “The emergence of multi drug resistance TB is also not acceptable. It is also not acceptable that Nigeria has one of the lowest detection rates in the world. It is currently detecting only 15 per cent of TB

cases. Over 170,000 Nigerians are dying from a preventable and accurable disease.” Buhari maintained. Also speaking at the event, the UN special envoy, Mr Eric Goosby, stated that “a strong political will from the government and other stakeholders is needed and I’d delayed, the threat of tuberculosis would get worse if nothing is quickly done about it as recognising and prioritising the disease is not enough.” The Minister of Health, Prof. Isaac Adewole, on his part stated that government would continue improve treatment and preventative measures in order to arrest the prevalence of TB in the country.

WEDNESDAY MAY 18, 2016 • T H I S D AY

FUEL PRICE HIKE...

Mixed Reactions Trail Protest against Fuel Price Hike CNPPurges Nigerians, civil society to resist FG The Conference of Nigeria Political Parties (CNPP) has reiterated its call on Nigerians masses and civil to ignore the labour unions and protest against the increment of pump price of petrol despite judgment of the Industrial Court stopping planned strike action by the unions. The CNPP in a statement issued on Tuesday, which was jointly signed by its national Chairman, Alhaji Balarabe Musa and the Secretary General, Chief Willy Ezugwu, also accused bot the the federal government and the labour unions of insincerity in the matter. “We are taken aback that the federal government could hurriedly obtain a judgment from the Industrial Court, with readiness to enforce same overnight while the government is yet to obey many other court orders against it. “For instance, the PRP was deregistered as a political party by the Independent National Electoral commission (INEC) and a court of competent jurisdiction ordered its re-registration but the INEC is yet to obey the order. “Today, the federal government selects which court judgment to obey and the ones against it are discountenanced. We reiterate our call on all well meaning Nigerians and the civil society to ignore the Labour unions and protest against the unjustifiable pump price increment in their numbers. “The CNPP suspects that the Industrial Court judgment was obtained the federal government in connivance with the labour unions to ambush the Nigerian masses and deny them their constitutional rights to hold opinion, freedom of expression and association. “Recall that the CNPP had earlier warned Nigerian people to ignore the labour unions because our findings showed that they have been compromised and would eventually betray Nigerians as they did in 2012. “The order of the Industrial Court stopping the unions’ planned strike puts a question mark on the sincerity of both the labour unions and the feral government. But the government and the unions must be made aware that the Nigerian people are unstoppable despite their glaring conspiracy against the wishes of the people”, they said.

ASUU Declares Nationwide Strike

National President of Academic Staff Union of Universities (ASUU), Professor Biodun Ogunyemi, has mobilised members of the union for strike and mass action commencing today to force the federal government to revert the pump price from N145 to N86. In a letter sent to members of the congress nationwide and read at the University of Ibadan chapter where the Chairman, Dr Deji Omole mobilised members to get ready go for mass resistance to what he called obnoxious and callous policy of fuel price increment. According to Omole, the policy of subsidy removal was the most criminal ambush from the Muhammadu Buhari-led federal government to empower the rich and cripple the poor. The ASUU boss who said the common denominator to all Nigerians is poverty added that the same APC government that failed to pay civil servants for months is now celebrating budget signing with the legalization of black market. Omole who noted that many state governors who now align with the removal of subsidy ran their states aground through wasteful spending added that the Economic and Financial Crimes Commission (EFCC) should beam search lights on state governors.

ASUU boss noted that the coup against the masses adding that since Nigeria runs motorised economy, Nigerians cannot be forced to carry the problems created by the rich and friends of government.

Organised Labour Goes on Strike in Edo

Despite meetings, negotiation and an Industrial Court injunction, organised labour led by the Nigerian Labour Congress (NLC), civil society coordinated by the Conference of Non Governmental Organisations (CONGOS) and other affiliates yesterday vowed to shut down economic activities in the state. Addressing a press conference in Benin City yesterday evening, state Chairman the NLC, Emmanuel Ademokun, said a rally would commence from the NLC secretariat and through the city centre. He advised all business premises not to open for business just as he threatened that petrol would be dispense at N86.50k in any petrol station found dispensing fuel. Ademokun insisted that they were not aware of injunction describing the said injunction as “black market injuction”. “We are not aware of injunction. This actioin is a clarion call on the federal government of Nigeria to wake up to their responsibilities of providing better life for Nigerians whome they have pledged to serve. The excruciating economic situation in our country do not recognise the political divide nor religion, nor tribal definition the time to say no to bad policy is now.” Ademokun said the industrial is being carried out by the NLC and not less than 41 of its affiliates.

Kogi NLC to Join National Strike

The emergency meeting of the Kogi State executive committee of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have taken decisions to comply with the directive from the national headquarters of the NLC to embark on the expected strike today to protest against the increase in the fuel pump price from N86 to N145 per litre by the federal government. The meeting which was attended by all major stakeholders, including civil society organisations in the state, was convened by the state Chairman of the NLC, Onu Edoka, along with TUC counter part Ranti Ojo, at the NLC secretariat in Lokoja, the state capital. Edoka said leaders of various unions met and took a unanimous decision to condemn the price increase and mobilise workers, activists, traders and other unions on a nationwide protest today to prevail on the government to reverse the action. According to him, “We have decided to give two days period to the government to reverse the increase or face the protest on Wednesday.” Edoka assured Nigerians that proper arrangements have been made to provide adequate security during the protest, adding that hoodlums should keep away from the strike.

Kwara NLC Declares Strike

The Kwara State branch of the Nigeria Labour Congress (NLC) yesterday ordered workers and residents of the state to stay indoor as from today despite the court order that restrained the national leadership of the NLC from embarking on strike action over the alleged refusal of the federal government to reduce the petrol price to N86 per liter from N145 per liter. This was contained in a statement issued by Joint Kwara Labour Congress (NLC) comprising of the NLC and the TUC in

L-R: General Manager, Regulatory Affairs, MTN Nigeria, Mrs. Oyeronke Oyetunde; Secretary General, Commonwealth Telecommunications Organisation (CTO), Shola Taylor; Human Resources Executive, MTN Nigeria, Mrs. Amina Oyagbola and the Acting Director General, National Broadcasting Commission (NBC), Mrs. Alheri Saidu, during the 2016 Digital Broadcasting Africa Forum, in Lagos.....yesterday Kola Olasupo the state. According to the statement jointly signed by the chairmen of the two labour unions, Comrade Yekini Kareem Agunbiade of the NLC and Kolawole Olumoh Nasir of the TUC, “The kwara state councils of the NLC/TUC in line with the directive of the national headquarters of the two umbrella union will embark on strike if the federal government fails to accede to the demands on or before 12 midnight on yesterday, May 17, 2016,the NLC/TUC and their civil societies allies will commence the strike on Wednesday, May,18,2016. “We seriously urge every worker and the masses of Kwara State to remain indoor until further notice,” the statement concluded.

IPAC, CSOs Withdraw from Planned Protest

Following the increase in the pump price of petrol from N86 to N145 per litre by the federal government, the forum of civil society organisations (CSOs) in the country, as well as the Inter-Party Advisory Council of Nigeria (IPAC), yesterday dissociated themselves from the planned protest by organised labour against the increment. The National Chairman of the forum, Wole Badmus, stated this in Abuja where he argued that the Nigeria Labour Congress (NLC) should be more concerned about the obnoxious treatment of Nigerian workers by foreign firms operating in the country and monitor the palliatives of the government to ensure their success. The CSOs stressed that they were in total support of the newly-introduced price modulation template in the oil sector, while also commending what they described as bold initiative of President Muhammadu Buhari to put the country on the part of sustainable development. Badmus insisted that toeing the lines was far an honourable path to tread than the usual rituals of subjecting citizens to pains and hardships through unnecessary strikes. The chairman noted that the forum expects that when more refineries are built and existing ones start functioning at full capacity, the current fuel price will drop considerably. He wondered why subsidy, which he observed was an issue when global oil price was above $100 would also be an issue now. Badmus emphasised that some sections of the populace were asking for subsidy, partly because they were oblivious of what he described as the scam perpetrated in the sector as well as the fear of the future without

subsidised fuel. Meanwhile, IPAC in a statement by its National Publicity Secretary, Chief Ogbuehi Dike, called on the NLC and Trade Union Congress (TUC) to shelve their planned nationwide strike and embrace dialogue in the national interest. IPAC urged the federal government to move beyond withdrawal of subsidy and fully deregulate the down-stream sector of the oil and gas industry. The regime of subsidy, it said, had always been unsustainable and has, indeed, been a tool for enriching a few people at the expense of ordinary Nigerians. Dike stated: “Fuel is an economic asset, not a social service. It must be used to advance the economic interest and wellbeing of our nation and not used as a tool for patronage and selective enrichment. “IPAC notes and regrets the pain the removal of subsidy may cause those Nigerians who are able to obtain fuel at its official price. It also notes and regrets the spillover effect the policy may have on cost of transportation, commerce and consumer goods in the short term. “However, in the long term, removal of subsidy is the right thing to do. Before now, subsidy had been the bane of diesel supply but since it was removed, diesel has been available everywhere at a stable price. “The billions of naira saved from the removal of fuel subsidy should be invested in diversifying the economy particularly agricultural sector, that will ensure national food sufficiency, create wealth and employment to millions of unemployed youths. “Part of the savings should also be used to offer immediate palliatives to the general public that will cushion the effect of possible rise in the cost of road transport.”

Bauchi Gov Asks Nigerians to Support Deregulation Governor Mohammed Abdullahi Abubakar of Bauchi State has asked labour leaders in the country to shun their planned industrial action over the deregulation of the downstream petroleum industry and support the presidency for taking “a bold step to transform the economy by addressing the major hurdles to meeting the local petrol needs of the country.” The governor made this appeal yesterday in the wake of an ultimatum issued by the labour leaders asking the federal government to rescind its decision to deregulate the downstream sector of

the petroleum industry which resulted in the increase of the price of petrol to N145 per litre. “No government in the history of this country has shown more commitment to the resuscitating the moribund economy of Nigeria and putting on the right tract of meaningful development than the administration of President Muhammadu Buhari. But for the bold decisions being taken by the Buhari administration, Nigeria would have been declared bankrupt,” Abubakar said. The governor said Nigeria cannot afford to “continue living in the fantasy of thinking that all is well. The economy needs decisions like these to bounce back. Abubakar while condemning the activities of saboteurs which have reduced petroleum production per day by nearly a third, promised that market forces will force the price of petroleum and its allied products to drop in a months as these activities in the Niger Delta will be brought to a halt and local refineries will resume production.

2,000 APCYouths Stage Rally in Support of Fuel Price Hike As the Nigeria Labour Congress (NLC) planned to organise a mass protest against the increase of fuel price today, about 2,000 youths in Bauchi under the aegis of ‘Bauchi State APC Youths’ yesterday staged a peaceful rally to support the recent removal of the fuel subsidy by President Muhammadu Buhari. The youths who carried APC banners and posters of Buhari started the procession from the palace of the emir of Bauchi and walked down to the state secretariat of the Nigerian Union of Journalists (NUJ) to address the press men and then trooped to the government house. Spokesman of the youths, Nasiru Abdullahi, explained that the rally was organized to express unconditional support to the president on the bold step he took to stop payment of subsidy to the independent petroleum marketers whom he alleged has been sabotaging the government by causing unnecessary fuel scarcity. He added that they would not support or participate in the demonstration against the removal of the subsidy by the labour unions, alleging that Nigerian Labour Congress (NLC) does not protect the interest of the common man in the country but were sponsored by the members of the opposition party and detractors of the present government to organize the protest.

WEDNESDAY MAY 18, 2016 • T H I S D AY

CRIME&PUNISHMENT Suspected Killer of UUTH Medical Doctor Arrested

Okon Bassey in Uyo

More than three weeks after the Head of Pathology Unit of the University of Uyo Teaching Hospital (UUTH), Akwa Ibom State, Dr. Ivy Umana, was killed, the prime suspect in connection in the murder has finally been arrested by the police in the state. The Minister of Health, Prof Isaac Folorunso Adewole, who showed concern over the death, during a visit to the hospital two weeks ago, threatened to call on the Inspector General of Police (IG), Solomon Arase, to take over the investigations into the killing the female doctor, 44. But yesterday, the prime suspect Henry Silas, 28, was paraded at the state police headquarters in Uyo. The state Police Public

Relations Officer (PPRO), Cordelia Nwawe, who briefed journalists, said Silas who hails from Ikot Akpan Anwa village in Ika Local Government Area of the state was re-arrested on May 13, 2016 in Aba, Abia State. According to the PPRO, the prime suspect had escaped from the Shelter Afrique Police State where he was detained, but following a tip off and calls made on his telephone line, he was again arrested in Aba. On interrogation, Silas reportedly confessed to the crime, saying the killing was as a result of disagreement he had with the deceased over payment of the sum of N100, 000 for the work he did in her house, tilling and P.O.P work. Nwawe said the prime suspect admitted killing her using an object, car shaft found

within the compound of the deceased, saying in the course of moving into her house, he used the object to hit her. The command spokesman said when arrested, three ATM cards, two car keys and Plasma television belonging to the deceased were recovered in one room apartment at No.124 Aka road, Uyo. When interviewed, Silas told journalists that on that fateful day, he was at the deceased’s house at Shelter Afrique. On getting to the house, he called the deceased on phone who came and the opened the gate for him. He further stated that he and deceased went inside her parlour, where she started complaining of his work that she did not like the kind of work he was doing. That she does not think she will pay

him, and on trying to plead with the deceased to pay him his money, the deceased slapped him and told him to get out of the house, and that when he refused, the deceased pushed him out and banged the door against him. Silas stated that he got angry and picked a rod he found outside the compound and waited for the deceased to come out, and when she did and saw him holding a big rod, she became afraid ran back inside the house. He confessed that he chased Umana with the iron, in the process, the deceased fell down on a cushion, where he hit her with the rod very hard on her head. Following the overwhelming evidence, police have vowed to prosecute Silas.

SOKOTO IS OPEN FOR BUSINESS

L-R: Sokoto State Commissioner for Commerce and Industry, Alhaji Aminu Bello; state Deputy Governor, Hon. Ahmad Aliyu; Governor Aminu Tambuwal; and the Acting Managing Director/CEO, Bank of Industry; (BoI), Waheed Olagunju, during the inauguration of the BoI Sokoto State Office, in Sokoto...recently

Two Bag 20 Years Jail Term for Illegal Oil Bunkering

Court Convicts Fake Drug Dealer, Slams Him with N.5m Fine

Senator Iroegbu in Abuja

Justice Ibrahim Buba of the Federal High Court in Lagos yesterday convicted a Lagos businessman, Sylvanus Ifeanyi Nwanoro, 37, for dealing on counterfeit drug products and sentenced him with a fine of N.5million. He will serve five years imprisonment if he fails to pay the fine. The convict was prosecuted by the National Agency for Food Drug Administration and Control (NAFDAC). He was charged with a five count of illegal possession and sale of counterfeit C of ‘N’Cold with codeine syrup. The convict pleaded guilty to one of the charges prompting the prosecution, Umar Shamaki to review the facts of the case before the court. As a result, the trial judge convicted the suspect with an

The Justice Ijeoma Ojukwu of the Federal High Court sitting in Uyo, Akwa Ibom State, has convicted and sentenced the duo of Wisdom Afangideh and Godwin John to 10 years imprisonment on each of the two-count charge preferred against them by the Economic and Financial Crimes Commission (EFCC). According to the statement the Head, Media and Publicity, EFCC, Wilson Uwujaren, the jail terms handed by the court yesterday, are to run concurrently. Uwujaren stated that the convicts were however given an option of N3,000,000 fine each. Also the truck and the

product are to be forfeited to the federal government. The convicts, he said, were prosecuted on charges bordering on conspiracy and illegal dealing in petroleum product. He said Wisdom and Godwin were arrested on June 8, 2012 by officials the Department of State Service (DSS) in Oku Iboku village in Ikat Adakpan Local Government Area of Akwa Ibom State with one DAF truck (registration number XQ 926 APP Lagos) with 33,000 litres of suspected illegally refined diesel. “They were subsequently, handed to the EFCC on June 12, 2012 for further investigation and possible prosecution.

option of fine to the tune of N500,000. In his plea of allocutus (plea of mercy), the convict said he is a first offender and did not waste the time of the court. According to him, he is now remorseful of his action and so would never commit such offence again if given the chance. The court after listening to the allocutus of the convict, condemned his action and lamented the effects of taken codeine by youths, which is as a result of the action of people like the convict, adding that such should not be tolerated. The court commended the prosecution and NAFDAC for doing a good job and urged it to continue to rid the country of counterfeit and fake drugs.

In Brief Police Arrest Brothers for Alleged Killing of Community Leader Men of the Ondo State Police Command have arrested two brothers, Sunday Akinye and Gbenga Akinye, for allegedly killing a community leader, Chief Joseph Omosuyi at Ilu Titun town in Okitipupa Local Government Area of the state. THISDAY learnt that Omosuyi was allegedly killed last Sunday during an argument at a meeting. It was learnt that the death of the 62-year-old man, who was a retired Vice Principal almost caused crisis within the community as youths reportedly moibilised to attack the suspects. The situation was said to have been saved by the intervention of security agents in the area. The Police Public Relations Officer (PPRO) of the command, Mr. Femi Joseph, who disclosed the arrest of the two suspects yesterday, said the command had begun investigation on the matter. “I don’t know the extent of their involvement but at present, those are the two suspects we have in our custody over the incident, but we are still investigating,” he said. According to a source, the deceased was alleged to have been hit on the chest by one of the suspects during an argument that ensued at a family meeting held at Agirifor area of the town. The source explained that deceased slumped immediately after being hit and was quickly rushed to the hospital but died on the way. ••• Launch

Hunt for Reverend Sisters’

Abductors

Forty-eight hours after the kidnap of two reverend sisters and their drivers on Benin-Sagamu Expressway Road on Sunday by gunmen, the Ondo State Police Command has said it has no clue yet on the whereabouts of the abductees. The Police Public Relations Officer (PPRO) for the Ondo State Command, Mr. Femi Joseph, who stated that the command had intensified efforts at rescuing the kidnapped persons, gave the assurance that they would be rescued and that the kidnappers would be arrested. The two sisters and the driver of their vehicle were reportedly abducted on the Benin-Sagamu Expressway at Kajola village in Odigbo Local Government Area of the state on Sunday and since then, the police said their whereabouts was unknown. Joseph said the command had been on the trail of the hoodlums but no one had been arrested in connection to the incident. “We are still on the trail of the kidnappers but for now, all I can tell you is that we are investigating and very soon they would be released and the abductors would be arrested,” he explained. In the same vein, the Director of Communications of the Catholic Diocese of Ondo, Rev. Father Leo Aregbesola, said the Vicar-General of the diocese had met with the state Commissioner of Police, Mrs. Hilda Harrison over the matter. Man Hacks Down Parents, Two Siblings The Nigeria Police yesterday said a 28-year-old man, Adamu Mai Bisco on Monday night hacked his parents and two sisters to death in Potiskum town of Yobe State. Speaking to journalists, the Police Public Relations Officer of Yobe State, state Police Command, Mr. Toyin Gbadegesin, an Assistant Superintendent of Police, revealed that the four victims were murdered without provocation in their sleep with a shovel by the suspect. The action of the suspect was said to be under the influence of hard drugs. Some of the people of the area where the crime took place told journalists that the parents of the suspect had threatened to report him to security agents for allegedly being a member of the notorious Boko Haram sect. One of the residents who spoke anonymously said: “I gathered that the parents said they will report him to security as a Boko Haram. He did not take that threat lightly and so decided to killed them along with his siblings while they were all asleep.” In a text message sent to some journalists in Yobe State, correspondent, the PPRO said the offence was committed under section 221 of the penal code law. He said the offence the killings were committed by Adamu Mai Bisco, 28 years old of Bataiya area of Potiskum, Yobe State “apparently under the influence of hard drugs, Marijuana and Tramol capsules. “The suspect without any provocation as the victims were fast asleep, picked up a shovel, attacked and killed his father, mother and two sisters. The incident took place at about 1.00a.m.”

Army Arrests Two Men for Impersonation

For allegedly parading themselves as soldiers, luck yesterday ran out on two middle-age men in Edo State who were caught by men of the Nigerian Army. The spokesman for the 4 Brigade of the Nigerian Army in Benin-City, Captain Jonah Unuakhalu, who paraded the suspects yesterday, identified them as Lucky Francis and Ibrahim Oseni. One of the suspects, Francis, was said to have arrested a civilian for allegedly failing to clear a debt of N15,000. Unuakhalu explained that the suspect had told his alleged debtor that he was an army officer, a claim he allegedly backed by presenting a fake identity card. But he ran out of luck when his victim laid a complaint at the military barracks, which led to his arrest on May 14. “Francis, who arrested another person, was arrested around S and T barracks, Ugbowo where he was found out that he (suspect) was an impersonator,” Unuakhalu added.The suspect said he had to use the military uniform, which he purchased in a market, to threaten his victim in order to

T H I S D AY •WEDNESDAY MAY 18, 2016

WEDNESDAYSPORTS

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

House Wades into NFF Crises Damilola Oyedele in Abuja The House of Representatives has mandated its Committee on Sports to interface with all parties involved in the lingering crises in the Nigeria Football Federation, to ensure quick resolution.

This, the House said is necessary as the crises has already culminated in the inability of the national team, the Super Eagles to qualify for the Africa Cup of Nations, and could therefore jeopardise chances of qualification for the next World Cup in 2018.

The NFF has been engulfed in crises following leadership tussle between Mr. Amadu Pinnick and Mr. Chris Giwa who are both laying claim to the Presidency of the body. The resolution of the House followed a motion under matter of urgent public importance by Hon. Prestige Ossy (Abia APGA)

who warned that the crises could affect the performance of Team Nigeria at the upcoming Olympic Games in Brazil. Ossy added that it is necessary to save the game which has served as a unifying factor for all Nigerians irrespective of their religious, ethnic or political affiliations.

Hon. Diri Onye (Bayelsa PDP) said since Nigeria has already graduated to exporting footballers to Europe and the rest of the world, the NFF crises must be resolved as soon as possible. He appealed to the warring parties to sheathe their swords in the interest of the nation. Hon. Ossai Nicholas Ossai

(Delta PDP) lamented that the NFF has been involved in crises which has drawn the attention of world football governing body, Federation of International Football Association (FIFA). “Nigerians enjoy football, it brings the youth together and engages them, so we have to keep that sector in order,” he said.

U N D E R - 2 0 A F C O N Q UA L I F I E R

Amuneke Optimistic of F’Eagles’ Chances against Burundi Picks Nwakali, Osimhen, 16 others for Battle of Bujumbura Femi Solaja Ahead of Saturday’s AFCON Under -20 qualifying match against the Young Swallows of Burundi, Flying Eagles coach Emmanuel Amuneke is confident of his side chances of qualifying for the 2017 African Cup of Nations U-20 championship billed for Zambia. The Flying Eagles face Burundi in the first leg, second qualifying round. And the former Nigeria international believes his youngsters would be ready for the arduous task that waits them in Bujumbura. “We are preparing, and have been working pretty hard for the match against Burundi,” Amuneke noted ahead of the team’s departure today via Ethiopian Airline. “They (players) know what is expected of them and collectively as a team, we are looking forward to the match with optimism. “Individually and collectively, we are doing everything in order to be on the same page and when we get to Burundi, we are going to give a very good account of ourselves as a team.” He is aware of Nigeria’s status as defending champions plus a record seven titles, saying he has set both short and long term goals for the Flying Eagles. “I’m not under any pressure but our business now is qualification for the Under-20 AFCON in Zambia,” he continued. “I’m not going to discuss what I know about Burundi here but what I know is that we are going to face a formidable team; and I’m

confident we would be ready to play them in their home and when they come here for the return match. “Though there are factors like high altitude as well as the timing of the match to deal with, we are preparing our players psychologically to be ready for these challenges,” he concluded. Meanwhile, Amuneke has cast his lot with his FIFA U-17 World Cup winners, with about 15 of them making the list of 18 players of the U-20 squad. Kelechi Nwakali, named the Player of the Tournament at the FIFA U-17 World Cup finals in Chile, where Nigeria scooped a fifth title, is joined by tournament best scorer Victor Osimhen and Bronze Boot winner Samuel Chukwueze. There are also goalkeeper Akpan Udoh, defenders Ejike Ikwu, John Lazarus and Udochukwu Anumudu, midfielders Orji Okonkwo and Kingsley Michael and forwards Chukwudi Agor and Chinedu Madueke. Nigeria and Burundi clash in a second round, first leg qualifying tie at the Prince Louis Stadium in Bujumbura on Saturday, starting from 3pm Burundi time (1pm Nigeria time). The winner of this fixture will confront Sudan in the final qualifying round. THE SQUAD: Kelechi Nwakali, Akpan Udoh, Chukwudi Agor, Ejike Ikwu, Anas Mohammed, Chinedu Madueke, Tobechukwu Ibe, Gavi Thompson, Samuel Chukwueze, Kehinde Ayinde, Orji Okonkwo,Victor Osimhen, Halilu Zakari, Udochukwu Anumudu, Kingsley Michael, Douglas Uzama, Chiaha Chisom, John Lazarus

Osimhen (left) and Nwakali are set for the battle of Bujumbura

NFF Overrules Wikadson’s Appointment as Plateau Utd’s Head Coach

Insists: Ban over scandalous results from play-offs in Bauchi still in force

Duro Ikhazuagbe The appointment of Victor Wikadson as replacement for sacked Zakare Baraje by the management of Plateau United Football Club has run into troubled waters as the Nigeria Football Federation (NFF) insisted yesterday that the former who is under ban cannot act in that capacity. Wikadson was the head coach of the Plateau United Feeders team that was banned for life with 18 players for their involvement in the scandalous 76-0 and 89-0 scorelines match fixing along side three other teams. Other teams involved in the scam include Akurba United FC of Lafia,

Police Machine FC of Yola and Bubayero FC of Gombe. All the players and officials involved in that scandalous 2013 play-off of the Nigeria Nationwide League in Bauchi Centre that attracted global alarm and condemnation were banned for life from the game by the NFF. In a letter to Plateau United FC yesterday, General Secretary of the NFF, Dr. Mohammed Sanusi, instructed the Plateau State Football Association to ensure that the ban is enforced in its domain. “The reminder became necessary in view of the move by NPFL side, Plateau United FC on Monday to appoint Victor Wikadson as its new Head Coach.

“From Plateau United Feeders, 18 players and seven team officials were axed. Fifteen players and three team officials of Akurba United were banned, alongside 18 players and five team officials of Police Machine FC and 16 players and three team officials of Bubayero FC of Gombe. “For record purposes, the banned players and match officials of Plateau United Feeders FC include: Kenneth Ilo, Jacob Bulus, Emmanuel Mathew, Ezekiel Damiri, Paul Danjuma, Mathew Luka,TentonYamen, Katura Christopher, Kika James, John David, Ugochukwu Kingsley, Safiyanu Idris, Daform Pam, Alexanda Longs, Joseph Dokatri, Laila Ibrahim, Sani Mohammed and Solomon Effom. Officials: Victor Wikadson (Chief

Coach), - Chief Coach Others were Sani Mohammed (Assistant Coach), John Babo (Assistant Coach), Shuaibu Usman (Welfare), Garba Mohammed (Masseur), Babawo Sambo (Curator), Danladi Bala (Team Manager). The NFF also insisted that the ban slammed on the match officials including Olu Okeneye, M. O. Bakare (match commissioners), Mohammed Mohammed, Umar Garba (referees), S. Chiroma, A. Shina, Sani Abdul, Hassan Pegt (assistant referees) H. Murtala and M. Salahuddin (reserve referee) is still in force. Players and officials of the other three teams are still under same life ban as Plateau United Feeders FC.

RIO2016

Iheanacho Targets Gold with Dream Team VI

Amuneke

Manchester City forward, Kelechi Iheanacho has said he believes Nigeria can strike gold again at the forthcoming Olympic Games in Rio, Brazil. Nigeria became the first African country to win an Olympic football gold, when they won in Atlanta in 1996.

They also won a silver medal in 2008 in Beijing, China, after losing 1-0 to Argentina in the final. And Manchester City forward Iheanacho has now told AfricanFootball.com the team could repeat the feat of 1996. “I think we will have a

strong team going to Brazil,” said Iheanacho, who is on the provisional squad for the summer Games, which start in August 4. “We have very good players at this level and I believe we can win (the gold) in Brazil.” The 19-year-old has had a

remarkable debut season for Manchester City, scoring 14 goals in all competitions for ‘The Citizens’. He is expected to make Nigeria’s final 21-man squad to the Rio games along with close pal and Arsenal forward, Alex Iwobi.

T H I S D AY •WEDNESDAY MAY 18, 2016

WEDNESDAYSPORTS NPFL… NPFL… NPFL…

Heartland Wants Oriental Derby Moved The management of Nigeria Professional Football League (NPFL) side, Heartland has said categorical no to the ‘Friday Night Football’ oriental derby at Enugu Rangers. The Naze Millionaires are billed to be the guests of neighbours, Enugu Rangers in Friday’s NPFL Matchday 19 clash at the Nnamdi Azikiwe Stadium in Enugu. An official of the Owerri outfit, Solomon Onuh said though the management of Heartland welcomes wholeheartedly the new practices by the League Management Company (LMC) to shore up the domestic league those innovations should consider the precious life of the prime actors in the change. “Management and players have said outright no to the demand by LMC for the side to head to Enugu for the Friday’s Night Football at Enugu Rangers on Friday. “We truly liked the innovations but not at the detriment of human life which the order seems to overlook. “We cannot finish the midweek match-day 18 clash against Plateau United then travel to Enugu on Thursday to engage Enugu Rangers on Friday that will be too demanding and tedious on the part of the entire team. “It does not make sense or serve the purpose for us to sacrifice human life to meet the demand of Friday Night Football. “We just returned from Kano on Monday after the Sunday match at Kano Pillars and here we are on Tuesday training for

MATCH DAY 18 Heartland v Plateau Utd Elkanemi v Rangers Ikorodu v W’Wolves Sunshine v Wikki Shooting v Abia W’ Rivers Utd v Akwa Utd Nasarawa v Lobi Giwa v Enyimba IfeanyiUbah v MFM FC Tornadoes v K’ Pillars

STANDINGS

Team P Rangers 17 Abia Warriors 16 Wikki 16 Kano Pillars 17 Lobi Stars 17 Rivers Utd 17 Akwa Utd 17 MFM FC 17 Ifeanyiubah 17 W’Wolves 16 Enyimba 14 Heartland 17 Sunshine 17 Plateau Utd 17 Nasarawa Utd 17 Tornadoes 17 El-Kanemi 17 3SC 17 Giwa FC 17 Ikorodu Utd 17

W 9 8 8 8 8 9 8 7 8 7 7 6 5 5 7 6 6 5 4 2

D 4 6 4 4 4 1 3 5 2 4 3 4 6 6 0 2 2 2 2 4

Lobi Stars’ Anthony Agbaji (right) tackles Kofi Nti of F.C Ifeanyiubah during their Match day 17 clash last weekend another crucial game on Wednesday against Plateau United and somebody deems it fair on us to head off to Enugu on Thursday to play on Friday against a

difficult opponents, Enugu Rangers. “The same LMC that wants us to play Rangers on Friday has carefully shifted the side’s midweek match

at El Kanemi Warriors in Maiduguri to Wednesday, June 01. “For us to give our very best in the match we want the LMC to move the

oriental derby to Saturday or preferably on Sunday but Friday is completely a wrong date for the match,” said Onuh to supersport. com.

The Owerri-based side have Wednesday NPFL match-day 18 date against the Tin City side at the Dan Anyiam Stadium in Owerri.

Fans Demand Shooting Stars’ GM Resignation current Plateau United goalkeeper Danladi was sacked for being a “destablising factor” at the club after he demanded to be given his contract last season. “What we have is that the club prefers verbal agreements with the players and when they cannot clear the monies they owe a player, they prefer to give him a free clearance,” the fan alleged. “The club desperately need a focused and competent manager who

can work outside what government gives the club. If there is one club who can do that in Nigeria, it will be Shooting Stars with their large fan base going beyond the country.” It was further understood that veteran coach Kadiri Ikhana quit his post because of broken down working relationship with Balogun. Shooting Stars is languishing second from bottom of the table with 17 points in the 17-weekold league.

Angry fans of troubled Shooting Stars have demanded for the resignation of the Oluyole Warriors’ General Manager, Rasheed Balogun, for allegedly mismanaging the club. The fans alleged that in the past three years the players of the Nigeria premier league club do not have contracts while they have been on half pay and are sacked at will. They also claimed that only six players are owned by the club with the rest of the squad on loan. These players include

Taofeek Adepoju, Seun Akinyemi, Ibrahim Babalola, Diran Oyelade and Ajani Ibrahim. “Balogun should follow Ikhana and leave our club,” demanded one of the angry fans. “The government monthly allocation to Shooting Stars is nowN14 million and even when they were in Division Two they were getting N20 million two years ago. Why then should they be crying of money when all the players are paid a flat rate salary

L 4 2 4 5 5 7 6 5 7 5 4 7 6 6 10 9 9 10 11 11

Green Hails Edo FA over South-south Tourney

GF GA GD Pts 27 19 8 31 19 11 8 30 24 8 16 28 24 17 7 28 20 14 6 28 20 16 4 28 23 16 7 27 19 16 3 26 16 17 -1 26 11 11 0 25 16 12 4 24 14 16 -2 22 18 16 2 21 19 24 -5 21 18 23 -5 21 19 22 -3 20 18 22 -4 20 17 30 -13 17 11 26 -15 14 13 30 -17 10

The Chairman of the Technical Committee of Nigeria Football Federation (NFF), Chris Green, has given a pat on the back to Edo FA Chairman, Frank Ilaboya, for putting together the South -south Champion of Champions Soccer Tournament scheduled to kick off tomorrow at the Sam Ogbemudia Stadium, Benin. Green said the tourney which will see all the FA Cup winners from the South-south zone of the country doing battle ahead

Balogun...3SC GM of N140,000?” Another fan told AfricanFootball.com that

of the national Federation Cup, is a great idea for which Edo FA deserves kudos. “It would be three days of great football in Benin. Edo FA has done very well in coming up with the tournament. It has the backing of NFF and we hope other state FA’s would be this proactive,” Green said. Meanwhile all the eight teams for the tourney have arrived Benin for the competition which is being bankrolled by FROT Group,

a Lagos-based company. Chairman of FROT Group, Frank Momoh, who would be gracing the opening and closing ceremonies disclosed yesterday that the winner of the tourney would pocket N1m while the runner up would smile home with N500,000. Coach of Insurance FC, Roland Ewere said yesterday that the tourney would help his side prepare very well for the new season as the club strives to stage a

return to the elite class of the nation’s league. “I think Insurance would be the biggest beneficiary from the tourney. We are happy we were given the opportunity to be part of it despite not winning the Edo FA Cup. We will use the competition to prepare for the league and it would help us to gain promotion and make our way back to the top class of the Nigerian league,” Ewere said.

T H I S D AY •WEDNESDAY MAY 18 2016

WEDNESDAYSPORTS

EUROPA FINAL: Why Liverpool Should Fear Sevilla Liverpool will attempt to secure its first major piece of European silverware for 11 years when the Reds take on Sevilla in the Europa League final in Basel, Switzerland, today. Sevilla finished seventh in Spain’s La Liga, 39 points behind champions Barcelona, yet cannot stop winning in the Europa League and is looking to win the trophy for a fifth time since Liverpool’s Champions League win in 2005 - and the third time in a row. But who is its main threat? Why are they so good in this competition? Who is the mastermind behind their Europa League success? Here, BBC take a look at what awaits Jurgen Klopp’s Reds at St Jakob-Park. Sevilla earned a place in this season’s Champions League group stage with a successful defence of their 2014 Europa League triumph - one that ended with a thrilling 3-2 victory over Ukrainian side Dnipro in Warsaw, Poland 12 months ago. A 3-0 win over Borussia Monchengladbach suggested Los Sevillistas could make an impression and advance to the knockout stages of Europe’s elite competition. It wasn’t to be, however, as four straight defeats saw them eliminated from Group D, which also contained Manchester City and Juventus, although the thirdplaced did send them back in their favourite tournament. Sevilla have owned the Europa League in recent years, with their back-to-back triumphs in the past two seasons following in the footsteps of consecutive wins in 2006 and 2007. “Everyone connected with

Sevilla thoroughly enjoys taking part in this competition, and I’ve always encouraged everyone to approach it with the passion it deserves,” said boss Unai Emery. Since their first European triumph in 2006, Sevilla have also won the domestic Copa del Rey twice, and will have another chance to lift that trophy when they face Barcelona in the final at Atletico Madrid’s Vicente Calderon on 22 May. That’s no accident because Sevilla have fielded some fabulous players in the past decade, including Barcelona pair Dani Alves and Ivan Rakitic, as well as prolific strikers in their prime such as Luis Fabiano, Frederic Kanoute, Alvaro Negredo and Carlos Bacca. The club’s sporting director Monchi has been showered with praise for his ability to repeatedly build high-quality squads packed with ambitious players who are on an upward curve - and the silverware has been fully deserved. Last season it was Carlos Bacca who was Sevilla’s main goal threat. The 29-year-old Colombia international’s departure to AC Milan has seen Kevin Gameiro step up to become the forward the opposition fear most. Half of Sevilla’s 14 Europa League goals this season have come from the former Paris St-Germain player, who has proved influential since moving to Spain three years ago. The 29-year-old France international marked his first season in La Liga with 15 goals and has followed it up with another 24 since. Gameiro’s goalscoring form is excellent, but his biggest asset to the team is his insatiable work rate - and it makes him the kind

Visa Marks Rio2016 Countdown with New Payment Tech In its 30th year as the exclusive payment provider of the Olympic Games, Visa is creating and managing the entire payment system infrastructure and network throughout all venues of the Rio2016 Games in Brazil including stadiums, press centres, Point-of-Sale (POS), the Olympic Village and Olympic Superstores. A press statement from the payment provider said that this year, Visa will implement 4,000 POS terminals across key Olympic venues, as well as 11 ATMs in partnership with Bradesco. Visa also extends the value of its sponsorship to Olympic Games host cities, facilitating the development and advancement of payment infrastructure in those markets.

“This year Visa will introduce acceptance of new technologies and innovation throughout Rio, focusing on new ways to pay including payment wearables and mobile phones – letting fans swipe, tap, dip or click to pay in Rio. “Visa has always stood for universal acceptance and the most secure and fast way to pay across merchants, borders and currencies,” said Executive Vice president of innovation and strategic partnerships at Visa Inc. Jim McCarthy. “As we prepare for the Rio 2016 Olympic Games, Visa is transforming the way fans pay, giving them choice in how they want to pay for anything, anytime and everywhere,” he concluded.

of player who is a real pain for defenders. But it could still be a busy summer for Gameiro because he has been heavily linked with a move to Barcelona, who are looking for an experienced striker to offer cover and competition for Luis Suarez. “He has a fantastic turn of pace

to get away from players and he’s very good at getting shots away quickly - a really sharp finisher,” said Emery. “He puts the first line of pressure on the opposition, with his speed and ability in transitions. That’s very positive for the team.” Emery does not always get the credit he deserves. He really

should be regarded as an elite manager considering the success he has enjoyed throughout his career. After starting out by leading lowly Lorca and Almeria to promotion, he guided cashstrapped Valencia to three consecutive third-place finishes in La Liga - and the scale of that

achievement is underlined by how much they have struggled since he departed in 2012. The 44-year-old Spaniard then had a brief and unsuccessful stint with Spartak Moscow before returning to Spain with Sevilla, where he has kept the team in the top half of the league as well as masterminding their cup

A H E A D R I O 2 0 1 6 O LY M P I C S

Up to 31 Athletes Face Ban after Beijing Retests Up to 31 athletes from six sports could be banned from competing at the Rio Games, Olympic chiefs have said. The announcement comes after the International Olympic Committee (IOC) retested 454 selected doping samples from the 2008 Games in Beijing. The IOC said the retests were conducted using the very latest scientific analysis methods. It also revealed it is awaiting the results of 250 retests from the 2012 Olympics in London. “All these measures are a powerful strike against the cheats we do not allow to win,” IOC president Thomas Bach said. “They show once again that dopers have no place to hide. We keep samples for 10 years so that the cheats know that they can never rest. “By stopping so many doped athletes from participating in Rio, we are showing once more our determination to protect the integrity of the Olympic

L-R: Chairman, Organising Committee, Walk For Life Programme organised by Lagos Lawn Tennis Club, Mr. Bala Yesufu; Prince Gbenga Lufadeju, Vice President, Lagos Lawn Tennis Club and Mr. Shina Atilola, Group Head, Strategy & Communications, Sterling Bank Plc at the press conference organised by Sterling Bank for the LLTC Walk For Project

competition.” More than 4,500 tests were carried out at the Beijing Games in 2008 - but just nine athletes were caught cheating. The IOC said the retests were focused on athletes who could potentially take part in Rio. It added 12 affected national Olympic associations would be informed in the coming days. However, the IOC said it would not be revealing the names of athletes who had returned adverse findings until B-samples had been tested and individuals informed. The British Olympic Association said it has not been contacted by the IOC. The organisation also confirmed it is to start retesting samples from the Sochi 2014 Winter Olympics.

Last week, a whistleblower alleged Russian secret service agents helped to protect drug cheats in Sochi, although the Russian authorities denied the claims. The World Anti-Doping Agency (WADA) is now investigating those allegations and yesterday announced it had appointed former Interpol agent and French Gendarmerie major Mathieu Holz to lead the inquiry. The latest measures taken by the IOC come after Russia and Kenya were found to have breached anti-doping rules in recent months. Russia was banned from athletics competition in November after a WADA commission report recommended the sanction. The nation’s athletics federation accepted its ban from international competition, with sports minister Vitaly

Mutko saying this week Russia was “very sorry” and “ashamed” of cheating athletes who were not caught by its anti-doping systems. But he argued not lifting the ban for the Rio Games would be “unfair and disproportionate” and that clean athletes should not be punished. Meanwhile, Kenyan Sports Minister Hassan Wario is confident the nation will not be banned from Rio despite being judged to be non-compliant with the global anti-doping code. WADA has written to Kenya, outlining what it must do to meet the anti-doping code. The IOC said it is funding WADA to carry out intelligencegathering before the Rio Games to make pre-event testing “as efficient and independent as possible”.

Win-Win Situation at Ikoyi Club Tennis Championship It will be a win-win situation at the ongoing Ikoyi Club Tennis Championship which kicked off at the weekend with over 75 participants vying for honours. The championship sponsored by Zenith Bank would see all participants in both the individual and team tennis events meant strictly for members of Ikoyi Club 1938 Tennis Section go home with valuable prizes. According to the Games Captain, Tennis Section of Ikoyi Club 1938, Akeem Mustafa: “Every participant in the competition had been assured of valuable prizes. For taking part in the tournament at all, you are sure of going home with something.” In the team tournament, the players are divided into the

Red and Grey groups, with each group comprising of four teams of seven players. The team names represent Zenith Bank product brands, and there are also the individual events which include the men’s singles A and B, ladies singles, men’s doubles and veteran’s doubles competitions for players aged 60 and 70 years above and super veteran’s singles for players aged 70 years and above. Speaking at a press briefing to herald the competition, the Managing Director and Chief Executive Officer of Zenith Bank Plc., Mr. Peter Amamgbo, represented by Bukky Latunji, GM/Group Zonal Head, Ikeja Zone in Zenith Bank, said “the bank is very happy to be in this collaboration for the second

year running, and the bank hopes to make this bigger and more fun next year. The competition is in line with the vision of the bank, which is to encourage a healthy life style through promoting sports such as Tennis.” The Chairman, Tennis Section of Ikoyi Club 1938, Esan Ogunleye revealed that “the Zenith Bank MD/CEO, is an active tennis player and would participating in the championship to add more colour to the tournament”. The championship which is to lasts for one week, is meant to promote inclusiveness as about 75 per cent of the participants will be rewarded with exciting prizes and trophies.

Wednesday May 18, 2016

UT H

& RE A S O

Price: N250

MISSILE

MSSN to FG “It pains to say that the government currently has no economic direction. Government should realise with all sense of responsibility that Nigerians are truly hungry, jobless and frustrated. As a society, we feel that one of the proactive methods to reduce the pains experienced by Nigerians is by promoting entrepreneurship.” – The Muslim Students’ Society of Nigeria (MSSN), Lagos State Area Unit accusing the federal government of not having economic direction.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Fuel Supply: What is to Be Done?

ne thing that is common to all the sober contributions to the periodic debates on supply of fuel is the pertinent observation that the controversy is an old one. This is, perhaps, the first lesson to be learnt by all sides of the current debate triggered by the increase of fuel price to N145 a litre. It is important to empahasise this because the debate has not just been an academic exercise in the last three decades. It has been a struggle costing blood and tears. Chima Ubani, an exemplary comrade of his generation, and Tunji Oyeleru, an accomplished photo journalist, died in a road accident 11 years ago while on a mobilisation tour by the Nigeria Labour Congress (NLC) against fuel price increase. It is, therefore, not a misplaced call to ask for sobriety of purpose in the debate this time round. There is no argument or explanation being put forward by anybody in Abuja that his predecessors in office in the last 30 years or so have not proffered. Similarly, there is hardly anything new in what is being said by those who are legitimately angry and protesting the price increase because of the undeniable hardship it would unjustifiably bring upon the poor people. And let no one pretend about it; there is a groundswell of anger in the land. Yet there is virtually no fresh idea coming up from the officialdom. Policy should be informed by clear and workable ideas in order to avoid the social convulsion that protests against the policy could generate. The centrality of fuel (along with other forms of energy) to the economy makes this matter a very sensitive one. In other words, the question to which government, labour, employers, manufacturers, and other interest groups should find answer, to borrow the title of one of Lenin’s famous works, is this: What is to be Done? It was in the quest for the fresh ideas to solve the old problem that this reporter wrote on May 9, 2015 the following piece in this column entitled Fuel Subsidy as Buhari’s First Baptism of Fire: In the spirit of a debate that has lasted for over three decades on one aspect of Nigeria’s political economy, the House of Representatives voted yesterday against the total removal of fuel subsidy. Instead, the lawmakers would like the President-elect, General Muhammadu Buhari, to continue with the subsidy regime. As the lawmakers pondered what to do with subsidy, Finance Minister Ngozi Okonjo-Iweala was busy having the usual dialogue with fuel marketers so as to arrest the fuel scarcity already plaguing the economy. The Coordinating Minister for Economy met with marketers to sort out their claims for subsidy payment. Similar meetings to reconcile subsidy figures had been held in the last few years. So nothing new is happening on the fuel subsidy front. But for the next administration something new has to be done to solve the problem. The debate on fuel subsidy has generated more heat than light over the years. Obfuscation is deliberately introduced into the debate by vested interests. This is probably why the heated debates have not resulted in policy breakthroughs all these years. The facts are not always in the public sphere for informed discussions of the problem. Technocrats revel in talking of the illogic of fuel subsidy. But in the streets the phrase, “removal of fuel subsidy”, has a less technical translation called “increase in fuel price”. What ultimately registers in popular imagination is the cost of fuel with its multidimensional consequences. So the emergent issues from it are not only technical; they are also social, political and even legitimately emotive. The debate has been conducted in over 30 years in this country with blood and tears. In the 1980s, labour leaders used to warn the regime of President Ibrahim Babangida that the “issue of fuel subsidy is as inflammable as the substance itself.” And so it has been with the country. During the administration of President Olusegun Obasanjo, Edo State Governor Adams Oshiomhole was the President of the Nigeria Labour Congress (NLC). Oshiomhole heroically led people’s protests against increase in fuel price. Ironically, Oshiomhole is now a leader of the All Progressives Congress (APC), the party that will come into power at the centre on May 29 to find solution to the problem among others. To be charitable to Obasanjo, his administration deepened the debate insisting 15 years ago that the issue was the liberalisation of the downstream sector of the petroleum industry. Nevertheless,

Buhari the policy itself suffered from serious disarticulation. The stages for the liberalisation process with timelines were never clearly spelt out. The point of consummation of the process was not clearly defined. However, the Petroleum Products Pricing Regulatory Agency (PPPRA) is a product of that stage of the long-running debate. The PPPRA has only been “regulating” the problematic subsidy since its birth. In retrospect, the mass protests against fuel price hike of January 2012 were more against the mismanagement of the subsidy regime than the actual price increases that the “removal of subsidy” engendered. In fact, no rational person would believe that the hundreds of billions of naira bandied in official circles are used legitimately to subsidise fuel consumption in this country. In 2011 the figures shot up to trillions of Naira! Unfortunately, in the campaigns towards the last presidential elections issues were submerged in hate speech. Otherwise it should have been possible to know in specific terms what a new administration would do to solve the problem in view of the financial hemorrhage caused by the subsidy regime. Now, not a few concerned Nigerians would like to suggest to Buhari that he should announce the obituary of fuel subsidy in his eagerly awaited inaugural speech on May 29. What with the unmitigated wastes and gross mismanagement associated with the subsidy regime! Those who are exasperated enough to hold this rather radical view in the course of the debate have legitimate reasons to insist that the policy is not sustainable economically. Come to think of it, Professor Tam David-West, who is now a member of the Buhari Transition Committee, has been telling anybody who cared to listen to him over the years that “there is no fuel subsidy” in the first place. David-West, a close associate of Buhari, is a former Minister of Petroleum. Will he make the radical suggestion to Buhari to bury fuel subsidy on May 29? Meanwhile history should teach us the lesson that what could be technically feasible may also be politically inexpedient and socially insensitive. After all, it was considered politically incorrect for a president seeking re-election to promise that there would be removal of subsidy on the first day of his second term. Similarly, without a mitigating policy framework firmly in place, it might not be a wise step in socio-political and economic terms for a president to announce removal of fuel subsidy in his inaugural speech knowing full well that it would mean instant increase in fuel price. The shocks that such a policy step would cause in the system may be too much for an administration that is about to settle down to handle. Nonetheless, the change that Buhari promised with so much passion would be put to a severe test by the manner in which he unties the fuel subsidy knot. The nation cannot simply pretend to be subsidising the consumption of fuel with trillions of Naira. The subsidy regime is only enriching a handful of persons. This is one mismanaged policy that should tax the creativity of the Buhari administration in generating fresh ideas to solve old problems. No matter what those who make a fetish of age may say, Buhari is not a strange person to the petroleum sector. He was oil minister when two refineries were built and they began operation in less than four years. Nowadays, building of refineries is presented as a rocket science. A lot of technical myths have to be exploded in the policy process.

Refineries have been built in less than two years elsewhere while the policy process is mystified here for selfish reasons. As part of Obasanjo’s liberalisation efforts, licences were issued for private refineries. More than a decade later not one private refinery is operating. The standard explanation from our experts is that no businessman would invest in private refineries unless the pricing is deregulated. Yet a few businessmen are actively involved in the trillion-Naira business of fuel importation. It does not seem to occur to those on the importation side of the debate that the trillion Naira allegedly spent on subsidy would build more than enough refineries. Remarkably, Alhaji Aliko Dangote is not waiting for this elusive deregulation as his refinery project is proceeding well. Hopefully, when the Dangote refinery begins operation one segment of the debate will be concluded. While Nigeria continues playing its subsidy game, new refineries have been built in Chad and Niger. The products from these refineries are shamelessly consumed across the borders in Nigeria. The element of change that Buhari can bring to the matter is to illuminate the subsidy regime and indeed the whole petroleum sector. Nigeria has carried on for over two decades as if nothing is amiss with the national shame of a crude oil exporting country that imports fuel for domestic consumption. Observers around the world baffle at this policy absurdity while our own experts rationalise it here eloquently. If Buhari cannot end the fuel subsidy on May 29, its administration should be able to come up with a timeline to end this shame called fuel importation. Prohibitive cost of fuel is largely due to importation. The moment you stop fuel importation, the end of fuel subsidy would be in sight. And you cannot seriously be talking of liberalisation and deregulation while there are no refineries operating to fuel the economy. This is not a policy step that could wait for eternity. To start with, Buhari will urgently need to free the huge funds trapped in the subsidy regime to finance his proposed social sector programmes to bring about the promise change. With greater illumination the leakages could be reduced before eventually blocking it. At least, Buhari should aspire to be the President to block the fuel subsidy leakage. To achieve this the fuel subsidy debate will have to be reframed with a greater honesty of purpose. Labour, employers and other

economic players should come up with workable ideas on how to solve the fuel subsidy question, which is central to the economy. It is no more enough to kick against subsidy removal. It is also important to prevent leakages associated with the management of subsidy through a wholesale policy review. The question of the moment is not if the opaque subsidy regime should be stopped; the point at issue is when and how the failed policy should end. This is one of the great challenges before Buhari. That humble view was expressed 20 days to Buhari’s inauguration as President. The assumption then was that the Buhari team, expected to be put in place, would be busy with policy conception and articulation. For the avoidance of doubt, there is no economy in the world in which consumers smile at the hike in the cost of energy. So Abuja should not nurse the illusion that its policy would not generate anger in the socio-economic landscape. However, the larger question is about policy disarticulation. There is the huge challenge of making deregulation truly competitive, transparent while ensuring that public interest is protected. For instance, how can it be justified that this policy step of deregulation is taken at a time when the regulatory agency is not properly constituted? And what on earth does it take to constitute the board of PPRA? When will the board of NNPC be constituted to perform its statutory role in the circumstance? Are there viable structures in place for a successful deregulation? These and other important questions should be carefully considered as the Buhari administration embarks on a proper policy articulation to solve the problem.

DEDICATION This column this week is dedicated to my comrade and collaborator of 38 years, Edwin Madunagu, who quietly marked his 70th Birthday in Calabar on Sunday. A Marxist and socialist, Madunagu has exemplarily dedicated his life to the struggle for a just and humane social order and human progress.

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