FRIDAY 13TH AUGUST 2021 by THISDAY Newspapers Ltd

Divestment: Wood McKenzie Values Shell’s Equity in JV Assets at $2.3bn Says IOC must get consent, negotiate NNPC’s pre-emptive rights before asset sale 19 OMLs listed for divestment

Emmanuel Addeh in Abuja The road to the planned sale of Royal Dutch Shell’s assets in Nigeria appears clearer now, with Wood McKenzie, a leading global oil and gas consulting firm, putting the

total value of Shell Petroleum Develop Company (SPDC), the subsidiary it proposes to totally divest from, at about $2.3 billion. Last week Tuesday, THISDAY had reported the Nigerian National Petroleum

Corporation (NNPC) as saying it would protect the interest of Nigeria in any transaction involving international oil companies interested in divesting from the country. Group Managing Director of the corporation, Mr Mele

Kyari, who addressed the issue in our report then had also said the NNPC cannot stop any of the oil concerns from deciding to sell off any of their assets as far as the rules are followed. Part of the conditions for

consummating the deal, Wood McKenzie, stated in a document obtained by THISDAY yesterday, also includes that the International Oil Company (IOC) must get consent as well as negotiate the Nigerian National Petroleum

Corporation’s (NNPC) preemptive rights before the assets would be sold. Two weeks ago, THISDAY had reported that the parent company had launched a major Continued on page 10

FG Spends N122bn to Procure Johnson & Johnson COVID-19 Vaccine ... Page 5 Friday 13 August, 2021 Vol 26. No 9622. Price: N250

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At Babangida’s 80th Birthday Lecture, Panelists Address His Challenges Iwuanyawu: June 12 annulment not his sole decision, he didn’t kill Dele Giwa Akilu: Vasta was killed because he wasn’t innocent of foiled ’86 coup Abubakar: He’s needlessly misunderstood Chuks Okocha in Abuja Some elder statesmen and eminent Nigerians, many

of whom played key roles in the administration of former Military President Ibrahim Badamosi Babangida, have

come out to address some of the age-long thoughts about his leadership, with a view to owning their own narrative.

Those who took the pain to explain away some of the issues that have stigmatised Babangida included a former

Head of State, Abdulsalami Abubakar; a member of the defunct Armed Forces Ruling Council, Gen. Haliru Akilu,

and a member of the Peoples Democratic Party (PDP) Board Continued on page 8

APC at Crossroads as PDP Tells Court to Declare Buni, Deputy’s Seats Vacant Wants party's governorship candidate, running mate in last election sworn in Alex Enumah in Abuja The filing of a suit, yesterday, in Abuja, by the Peoples Democratic Party (PDP) seeking the sack of Yobe State Governor Mai Mala Buni and his deputy, Idi Gubana, could mean more trouble for the ruling All Progressives Congress (APC) as momentum gathers ahead of the 2023 general election. The party’s woes took a worrisome dimension in July, when a minority judgement of the Supreme Court held that Buni violated the 1999 Constitution by performing the duties of a sitting Governor and Chairman of the APC Caretaker Committee – both executive positions. The judgement has since July 28 continued to tear the

party further apart alongside pro-Buni and anti-Buni tendencies, with the Minister of State for Niger Delta and Senior Advocate of Nigeria (SAN), Mr. Festus Keyamo, warning about future disasters if Buni was not immediately removed as chairman of APC. Keyamo and others, like Senators Babafemi Ojudu and Ita Enang, had raised concerns about future elections, particularly, in a situation, where the convention to elect new leaders of the APC was conducted under the Yobe State governor. Although the pro-Buni group within the party has continued to maintain that the Supreme Court judgement did not fault the chairman’s position as Continued on page 8

FG: Nigeria Imported N1.8tn Used Vehicles in One Year... Page 12

PRESIDENTIAL VISIT TO TINUBU... President Muhammadu Buhari (left) and a former Governor of Lagos State and Chieftain of the ruling All Progressives Congress, APC, Bola Ahmed Tinubu who hosted the President at his London residence…yesterday

FRIDAY AUGUST 13, 2021 •T H I S D AY

FRIDAY AUGUST 13, 2021 • T H I S D AY

FRIDAY AUGUST 13, 2021 •T H I S D AY

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NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 08033506821, 08097777322

IBB LEGACY DIALOGUE EULOGISES HIM @80... L-R: Former Minister of Information, Prof. Jerry Gana; former Gov. of Niger State, Babangida Aliyu; former Head of State, Gen. Abdulsalam Abubakar and former Senate President, David Mark at the IBB Legacy Dialogue as part of activities marking 80th birthday of former President Ibrahim Babanga in Abuja… yesterday

FG Spends N122bn to Procure Johnson & Johnson COVID-19 Vaccine

Says Delta variant infection not enough for another lockdown May apply ‘no work, no pay’ policy against striking doctors Cholera outbreak recorded in 22 states, infects 31,000, and 816 deaths Deji Elumoye in Abuja The federal government on Thursday gave an update on its fight against the spread of COVID-19 pandemic in the country, saying it has spent some N122 billion to procure the Johnson & Johnson vaccines for the citizenry. It, however, noted that the number of delta variant infections so far recorded across the country did not warrant another lockdown as witnessed in the wake of the pandemic last year. The on-going strike action embarked upon since the beginning of the month by doctors under the aegis of National Association of Resident Doctors ((NARD) also received the attention of government, which threatened to apply the "no work no pay" policy if the doctors failed to return to work. Meanwhile, the cholera outbreak is reported to have affected 22 states with a total of 31,000 people infected and 816 deaths. Executive Director/CEO of National Primary Healthcare Development Agency (NPHCDA), Dr Faisal Shuiab, who spoke at the weekly ministerial press briefing organised by the Presidential Communications Team at the State House, Abuja said in order to further combat the spread of the dreaded Coronavirus pandemic (COVID-19) in the country, the federal government has procured over 29 million single dose of Johnson and Johnson vaccines at the cost of $298.5 million (over N122 billion). This, he stated, was to enable the country vaccinate 70 per cent of eligible members of the population. According to him, the 177,600 doses of Johnson and Johnson vaccines that arrived the country with roll wout schedule for Monday, was part of 29 million doses the government procured that is being expected.

Minister of Health, Dr. Osagie Ehanire, while talking on the third wave of Covid-19 brought about by the delta variant said, “lockdown is a very, very last measure that countries are taking, because lockdown stifles economic activity, restricts your own freedom and your business – corporate business, government business, private business – all are affected. "So, it’s not something you do easily. And, of course, when we were compelled to have that lockdown at the beginning, we learnt a lot of lessons. You know, at that time government provided palliatives to release the impact of it; If you couldn't go to market, if you couldn’t do your business. “But this is not what government is aiming to do. No government wants to do a lockdown. In countries, where they have had serious threat, they have had to do what they call a precision lockdown like in the UK. In fact, Israel the other day announced that they're doing some lockdown, but there's no more generalised lockdown but precision lockdown of certain areas. “So many countries do what they call precision lockdown so that not everybody will be affected, only certain areas to avoid too much damage to the economy, to social life. And we are not at the level yet where we are feeling that threat to do any lockdown. And as I speak to you now, there are several

countries that are on one kind of lockdown or the other. If my recollection is correct, at least six or seven countries are doing one form of lockdown or the other. We do not have that on the table right.” The minister also used the forum to appeal to striking doctors, under the auspices of National Association of Resident Doctors (NARD), saying embarking on an industrial action in the mid of the third wave of Covid-19 pandemic with the arrival of Delta variant, cholera outbreak in 22 states and Marburg virus (similar to Ebola) outbreak was not only dangerous but unconscionable. According to him, the federal government would not hesitate to apply the International Labour Organisation’s policy of “No Work, No Pay", if the doctors insisted on carrying on with the strike, stressing that they would not be paid from tax payers money for doing nothing. He also denied threatening to sack resident doctors, who withdrew their services nationwide since August 2 over alleged poor conditions of service, explaining that all the engagements and consultations so far have been to appeal to them to call off the strike. Further on the doctors' strike, Ehanire said it was not a good time for doctors to go on strike. He stated, "We're having a strike for the third time this

year. That is not good. We have appealed to them. We have been having long meetings with young doctors to tell them that look, we have a certain responsibility to our country. “Every country that has difficult situation at this time should understand that responsibility is on all of us if you have any problem, any grudge let's talk about it. If we can't solve it now, let's continue talking about it until we fine solution but don't drop work. “I think Nigeria is probably the only country in the world today where doctors are dropping work in the middle of a threat to the whole country. So, that's what we have advised. There has been no threat. Nobody threatened anything. We are just appealing. All of us are doctors; all of us went through the same residency. “We’re saying this is not the time; let's continue to talk about it. Do not put people's lives at risk. That's what the Minister of Labour has been saying, that is what the minister of Health has been saying. Nobody has threatened anybody with anything.” When reminded of the threats of no work no pay, the minister said, “Yes, but that's a standard thing. That's International Labour Organisation (ILO) recommendation that if you did not work, then why will you take…your salary comes from taxpayers money.

“So, if you did not work, why should you be paid, because if that is so you can be encouraged to stay home for six months and your salary is running from public funds, from taxpayers money, when you have not given the community any service? “So, that no work, no pay is not just the government regulation, it is specifically stated in International Labour Organisation that if you do not work, if you have not given any service, you can't expect regulation, because you can't go to market and buy something for nothing. You must put down something, you must put down work. “You cannot go to market and take goods without paying. So, if you work, you will be paid. And we are strongly in support of government meeting its obligations to pay what is agreed. We have said that we shall push for that, you know, working with the salaries and wages commission, the head of service, we are working to support that including paying all the insurance dues. “But we cannot go against what the ILO says: pay people that did not go to work. I mean, I think before God and man, you can defend that position, but there is no question of threats. These young doctors are professionals, not just professionals, they are young people, who we need to also mentor and treat well, to the

best of all our capacity here. “So, the strike is not what we want now. We would like to again, use this platform to ask doctors to return to work, let us negotiate. We can do that among us. There are many areas the Ministry of Health supports them. But part of the problem we have is that some of the grudges that they have, or let us say the demands are with state governments not the federal government. So, if the state government has not paid some people salary, why go on nationwide strike? “We say if you want to talk to that state, I will support you and appeal to the state. Among the 12 original demands that they made, seven were state related. They're not federal, federal government cannot compel a state to pay you a certain salary that you want. But the ones that are concerning us at federal level, many of them are not even exactly the Ministry of Health either. “But we support them and say strike is not a good tool to use. And especially when the health of the country is threatened, when people will come out and volunteer in other countries to work. That is not the time to withdraw your own service. And I think again, we'll continue to appeal to young doctors not to use strike as a tool, especially, at a time of national need that will not rest well on your conscience.”

Banks to Sanction Customers Involved in Fraudulent FX Purchase To complete national theatre December 2022 Nume Ekeghe The Bankers Committee yesterday announced that henceforth authorised foreign exchange (FX) dealers in the country would blacklist customers by placing post-nodebit (PND) on their accounts if they are caught using fraudulent

means to procure FX. This is just as the committee said they have collaborated with the Nigerian Interbank Settlement System Plc (NIBSS) to create a portal where information on FX sales would be shared real-time to help checkmate arbitrage. Speaking to newsmen at

the end of a meeting, the Group Chief Executive Officer, Guarantee Trust Holding Company Plc, Mr. Segun Agbaje, said the banks are capable and eager to support the Central Bank of Nigeria’s (CBN) FX policy. He stressed however that as a means of protecting

themselves, the banks would sanction fraudulent customers who are duplicitous. According to Agbaje, “The new FX policy with regards to invincibles, PTA and BTA, school fees and health is working very well. The banks have taken it upon ourselves along with the regulators to

make sure this works. “This is just the first phase and if you notice, most of the things you are doing today you are going into the branches to do most things, but we are also going to try and digitise this whole thing. The way the world is going, an app is being created Continued on page 10

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NEWS

HOW WE ARE PROTECTING PUBLIC HEALTH... L -R: Minister of Health, Dr. Osagie Ehinare; the Director General NAFDAC ,Mojisola Adeyeye; Executive Secretary National Primary Health Care, Dr Faisal Shuaib, and the Director General NCDC, Dr. Chikwe Ihekweazu at the Press Brieﬁng of the activities of the Ministry and the agencies at the Presidential Villa, Abuja ...yesterday godwin omoigui

South Africa Secures Deal to Manufacture COVID-19 Vaccine As Nigeria receives 177,600 Jassen vaccine

Onyebuchi Ezigbo in Abuja South Africa has become the first African country ahead of Nigeria and others to broker a business deal to manufacture the Johnson and Johnson variant of Covid-19 vaccine on the continent. The cheering news came just as Nigeria formally took delivery of the 177,600 doses of Johnson and Johnson vaccines procured through the African Union collaborative venture with the AfriExim Bank. This was disclosed by representative of the Africa Center for Disease Control (CDC), Dr Amadou Cheick Tidiane Cissé, at the event to mark the formal delivery of the 177,600 doses of Johnson and Johnson vaccine to the National Strategic Cold Store, located near the Nnamdi Azikiwe International Airport in Abuja on Monday. Cissé, who was asked to give more details on the procurement of the Johnson and Johnson Covid-19 vaccine said, "the first batch of the Johnson and Johnson vaccine was manufactured in the United States while subsequent doses will be manufactured in South Africa. Africa CDC encourages other African countries to try and manufacture Covid-19 vaccines, because it is very important in the campaign against the Covid-19 virus". He also said it was a sign of hope that the continent would finally be able to close the vaccination gap with other parts of the world. Cissé noted that the vaccines would help to save African lives and livelihoods and helpresume their ways towards the continental development agenda. According to him, “Since the beginning of this pandemic, which continues to devastate lives and livelihoods in Africa and globally, it has been clear that safe and efficacious vaccines are our only way out.” World Health Organization (WHO) Country Representative, Dr Walter Kazadi Mulombo, also

commended the federal government, including the Presidential Steering Committee (PSC), Federal Ministry of Health and NPHCDA for the successful completion of the first phase of the Covid-19 vaccine roll-out with the vaccination of the front-line workers and other priority groups, who are at high risk of Covid-19. Mulombo said in terms of the quality and efficiency of the Covid-19 vaccine roll-out, Nigeria was rated the fourth in the world. "Today, we are witnessing the symbolic arrival of 177,600 Johnson & Johnson vaccines, another landmark event in Nigeria’s response to Covid-19 pandemic, widely acclaimed by many as one of the most successful so far. "WHO had on many occasions, commended the Government, including the Presidential Steering Committee (PSC), FMOH and NPHCDA for the successful

completion of the first phase of the Covid-19 vaccine roll-out with the vaccination of the front-line workers and other priority groups, who are at high risk of Covid-19," he said. According to him, Nigeria’s preparation for the second phase of the Covid-19 vaccination,which involved more resources and logistics, was highly commendable. He also commended a multi-sectorial approach adopted at the different level of the government to address issues around Covid-19 vaccine hesitancies. Mulombo also spoke on the safety and effectiveness of the vaccines saying it would be the game-changer, "But for the foreseeable future, we must continue wearing masks, physically distance and avoid crowds. “Let me seize this opportunity to say that this pandemic still has a long way to run: Nigeria is experiencing a 3rd wave and we need to

work together to ensure that all preventive measures put in place are maximised to reduce the impact of Covid-19 on our lives. He assured the people that WHO would continue to support the country in reaching its targeted population with Safe and effective vaccines. Speaking while inspecting the first shipment of 177,600 of Johnson and Johnson vaccines doses From African Union, a single-shot vaccines under the African Vaccine Acquisition Trust (AVAT), Executive Director of National Primary Healthcare Development Agency (NPHCDA), Dr. Faisal Shuaib, said Nigeria was among the first ten African countries to receive vaccines through the partnership and to benefit from a supply deal agreed in March, 2021 to procure 220 million doses for the continent, with the potential to order another 180 million. Shuaib said contrary to

insinuations, the single dose of the COVID-19 vaccine made by Johnson & Johnson was highly effective in preventing severe illness and death from the Delta and Beta variants of the coronavirus data obtained from a clinical trial in South Africa suggest. Shuaib said 177, 600 doses would step up efforts to battle a third wave of infections across the country, noting that the single-shot COVID-19 vaccine, was the first of its monthly supplies under an arrangement with AU nations. “Nigeria took delivery of 177,600 doses of Johnson & Johnson vaccines, being part of the 29,850,000 doses that the Federal Government of Nigeria procured through the AVAT of the AU Commission through the facility provided by African Export-Import Bank (AFREXIMBANK). “The balance of the vaccine will subsequently be delivered in monthly tranches. This batch of Johnson and Johnson vaccine

will be focused on those, who are in the hard-to-reach areas (riverine areas, desert areas and security-compromised areas), the elderly and frail individuals. “This is because the Johnson & Johnson vaccine is administered as a single dose vaccine unlike the AstraZeneca and Moderna that require two doses for complete vaccination,” the ED NPHCDA said. Also, representative of UNICEF in Nigeria, Dr. Peter Hawkins, said Covid-19 vaccines were the most important tool the world have against Covid-19. Hawkins assured Nigerians that vaccination would provide better protection than natural immunity for adults previously infected with Covid-19, from getting re-infection. He disclosed that the country was expected to receive another shipment of Oxford AstraZeneca Vaccine doses by next week.

OPEC Leaves Oil Demand Unchanged, Raises Supply Forecast Commodity price falls as IEA slashes forecast Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) yesterday kept its global oil demand growth projections for this year and next unchanged. But the group lifted its forecast for supply on the back of rising members' production quota. Making this known in its August Monthly Oil Market Report (MOMR), the cartel pegged this year's demand at 96.6 million barrels per day (bpd), up by just under six million barrels from last year and a further rise of 3.3 million bpd to 99.9million bpd next year, with demand exceeding 100 million barrels in the second half of the year. The oil-producers' group stated that the outlook for the global economy has improved slightly since its last report,

adding that this was based on the assumption that it would be mainly driven by non-oil intensive sectors. According to the OPEC report, petrol, diesel and light distillates would lead next year's oil demand growth as road transport activity recovers, the industrial sector picks up steam and new ethane crackers are commissioned. The report projected that consumption in China and India would outstrip prepandemic levels next year, "supported by a healthy rise in demand for transportation and industrial fuels." However, OPEC warned that Covid-19-related developments would need close monitoring over the coming months, especially when considering the usual colder weather in the northern hemisphere towards the end of the year.

On the supply side, last month's agreement by the OPEC+ coalition to lift crude production quotas has prompted OPEC to raise its forecasts as non-OPEC liquids supply is now projected to rise by 1.09 million bpd this year and by a further 2.94 million bpd next year. The revisions mainly reflect higher quotas for non-OPEC members of the OPEC+ alliance, such as Russia and Kazakhstan, but they also incorporate higher forecasts for countries outside the OPEC+ group, including the US and Canada. But taking into account the higher non-OPEC supply, the group trimmed the forecast on its own members' crude by 200,000 bpd to 27.4 million bpd this year and by 1.1 million bpd to 27.6 million bpd next year. Meanwhile, oil prices

fell yesterday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand. Brent crude futures fell 45 cents to $70.99 a barrel, after hitting a session high of $71.90, while US West Texas Intermediate (WTI) crude futures fell 47 cents to $68.78 a barrel. In the latest international energy watchdog's monthly report, it said the rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to embark on further restrictions. "Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed

in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use," the Paris-based IEA said. The IEA put the demand slump last month at 120,000 bpd and predicted growth would be half a million bpd lower in the second half than it had estimated last month, noting some changes were due to revisions in data. "But the scale could tilt back to surplus in 2022 if OPEC+ continues to undo its cuts and producers not taking part in the deal ramp up in response to higher prices," it said. OPEC+, which had introduced output curbs to support prices and ease oversupply, agreed in July to boost output by 400,000 bpd a month starting in August until the rest of a 5.8 million bpd cut is phased out.

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PAGE EIGHT AT BABANGIDA’S 80TH BIRTHDAY LECTURE, PANELISTS ADDRESS HIS CHALLENGES of Trustees (BoT), Chief Emmanuel Iwuanyanwu. They addressed issues as the annulment of the June 12, 1993 presidential election, the mindless killing of a renowned journalist, Dele Giwa, and the killing of Mamman Vasta in the wake of the foiled 1996 coup. They all spoke at the maiden edition of IBB legacy dialogue, which is one of the products of the IBB and Maryam Babangida Presidential Library. The colloquium was designed as part of events to mark Babangida’s 80th birthday coming up next Tuesday, August 17. Generally, the speakers called on leaders across the country to emulate the inclusive leadership qualities of the former military president in managing Nigeria's multi-ethnic polity and raised concern over the retrogression of intellectualism in governance. They also expressed concern about poor handling of Nigeria's multi-ethnic nature, and set the agenda for the future. They said future leaders of the country should have a broad network of friends across the country in order to ascertain the true situation of things across Nigeria. Reflecting on his relationship with Babangida, Iwuanyanwu, who echoed the need for inclusive government, however, defended IBB over June 12 annulment and described the news that he killed Dele Giwa as fake. Iwuanyanwu stated, "I am not worried about the stories about IBB. A leader must be swift to respond to false comments about him. That story on Dele Giwa is fake news. not properly responded to. "On the cancellation of the June 12 election, none of the council members protested or resigned, because of the cancellation of the result. Maybe after this, the narrative will improve." Iwuanyanwu, who said IBB impressed him as a friend and leader in many dimensions, hailed his inclusive leadership abilities in a multi-ethnic country like Nigeria. While appreciating his leadership qualities,

Iwuanyanwu said, "When you assume leadership of a multi-ethnic country, you must carry everybody along." He urged secessionist groups to desist from stoking the embers of war, noting that having experienced war just like Babangida, it was not a tea party. Iwuanyanwu said, "We are warning the younger ones causing trouble, it is not a tea party. I fought in the war and he (Babangida) fought and we suffered injuries." He added that when Babangida came to power, he assured those who fought the war on the side of Biafra of inclusion and "he made it real." Iwuanyanwu explained, "He (Babangida) had people of all parts working for him. It is an example other leaders must learn. He didn't neglect any ethnic group; he carried them all along. To have confidence in a people called rebels is why Igbos have confidence in IBB. He married our daughter. He gave us respect." The PDP BoT member recalled that Babangida founded the Raw Materials Development Council in order

to address the way foreigners were exporting raw materials from the country. Recalling how the former president spent the whole day at his hometown in Imo State, when he buried his father, Iwuanyanwu said, "He is an excellent leader. He is being misrepresented. All leaders are misrepresented. But it is for the leader to tell his story if he does not tell it others will tell it for him. He should say with joy that I came, saw and conquered." Akilu, on his part, defended IBB over the killing of Vasta. He said, "As for those bringing the case of Vasta, they should go and dig deeper and find out what happened. We were there and we had a tribunal that looked into the case. If Gen Vasta were innocent, nobody would have convicted him. Unfortunately, he was the most senior officer behind the attempted coup in 1986. So, people should not jump to conclusions." Akilu said he was attracted to Babangida during the civil war, when Babangida, as a young military officer, defended a junior officer from

a bully military officer. "There was an incident that attracted me to him. He stood up for a junior officer, who was being bullied. He cared for the junior officers working under him," he said. He described Babangida as a gifted person, who is kind to a fault. Akilu recalled how the former military president gave out his only car to a friend, who needed it. Akilu said, "His loyalty to his friends is legendary. He will never betray you no matter what. He will never forsake his friends. If you are his friend, he will never abandon you.” He lamented the failure of successive administrations to follow in the steps of Babangida in building more barracks for the military so that the military will have comfort. "I thought that successive administrations would build more barracks but no additional barracks have been built for the military." Akilu decried the lack of maintenance of the federal secretariat, which was built by the Babangida regime. On the relocation of the

federal capital territory from Lagos to Abuja, Akilu said, "He was courageous to take the right decision at the right place and time even when many of us were saying it was not the right time." In his contribution on "how he built his tribe", Abubakar, extolled the virtues of the former military president and underscored the need for leaders in the country to carry everybody along in a multi-ethnic country like Nigeria. Abubakar, while underscoring the leadership qualities that endeared Babangida to many Nigerians, said, "Once you are a leader, everybody is yours. You are supposed to look after the welfare of all of them." Abubakar, who recalled his early childhood years with Babangida, said the former military president displayed leadership qualities from a young age, serving as class monitor in primary school and later as head boy in secondary school. Regretting that the Babangida was one of the most misunderstood

Nigerians, Abubakar noted that Babangida has the love of Nigeria at heart. He reflected on the institutions established under the Babangida administration, adding that Nigerians are now reaping the fruits of the numerous agencies created under his watch. The former head of state said, "IBB has the love of the country in his heart. He is one of the most misunderstood Nigerians but by and large, you can see that what he has established over the years; we are seeing the benefits. Abuja is one of the greatest and fastest growing capitals in the world. He is quite accommodating and generous to a fault. He can deprive himself to make sure someone is okay." Other dignitaries at the event included former governor of Niger State, Babangida Aliyu; former Senate President David Mark; former Minister of Information, Prof. Jerry Gana; former Minister of Education, Prof Tunde Adeniran; media mogul and Chairman of Daar Communication Group, Raymond Dopkesi; and Gen Olagunsoye Oyinlola.

BOOSTING PREPAREDNESS FOR COVID-19... L-R: Edo State Specialist Epidemiologist, Dr Greg Oko-Oboh; Edo State Governor, Mr. Godwin Obaseki; Executive Secretary, Edo State Primary Healthcare Development Agency, Dr. Julie Erhabor and the Permanent Secretary, Edo State Ministry of Health, Dr. Osamwonyi Irowa, during an inspection at the Edo State Primary Healthcare Agency, in Benin City.

APC AT CROSSROADS AS PDP TELLS COURT TO DECLARE BUNI, DEPUTY’S SEATS VACANT governor and, hence, passed a vote of confidence on his committee to proceed with its planned congresses and national convention. While the crisis rocking the party had been mainly internal, a new dimension was introduced yesterday with the filing of a suit by the PDP leadership, this time seeking the removal of Buni as governor of Yobe State, over alleged breach of constitutional provisions barring a sitting governor from holding two executive offices at the same time. Apart from Buni, PDP, citing section 187(1) of the 1999 Constitution, as amended, also sought the removal of Gubana from office as deputy governor. PDP, in the suit dated and filed August 12, specifically alleged that Buni violated Section 183 of the constitution, when as a governor he accepted to serve as Chairman of the Caretaker Committee of the All Progressives Congress (APC). The National Executive Committee (NEC) of APC

had last year appointed Buni and others to manage the affairs of the party for a period of six months, which has been extended twice. Buni's appointment was sequel to the dissolution of the Adams Oshiomhole-led National Working Committee (NWC) of APC. This was after Oshiomhole was suspended from his ward in the build-up to the Edo 2020 governorship poll. Both the High Court of the Federal Capital Territory (FCT) and the Abuja Division of the Court of Appeal had held that Oshiomhole, having been suspended by his ward, could not continue to preside over the activities of APC. Although Oshiomhole did not challenge the dissolution of the NWC then, some aggrieved party members had approached the court seeking to stop the Buni-led caretaker committee. While the party would be battling on the one hand to legitimise the Buni-led committee, the Yobe State governor, on the other hand, would be battling to save his

office as governor. Outside Buni and Gubana, other defendants in the suit filed by Umar Damagum and Baba Aji included the APC and the Independent National Electoral Commission (INEC). In the suit filed on their behalf by their lawyer, Chief Emeka Etiaba, SAN, the plaintiffs insisted that Buni ceased to be a governor from the moment he accepted to act as APC caretaker committee chairman. Among the issues raised for determination by the court were, "Whether the 1st Defendant did not breach the clear provisions of Section 183 of the Constitution of the Federal Regublic of Nigeria 1999 as amended) when as the governor of Yobe State he accepted the 3rd Defendant's appointment as its Caretaker Committee Chairman and proceeded to occupy the office? "Whether the 1st Defendant, who is the governor of Yobe State and the Caretaker Committee Charmin of the 3rd Defendant, has not ceased to hold the office of the govermor

of Yobe State, having regards to the provisions of Section 183 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended)? "Having regard to the judgment of the Supreme Court Eyitayo Olayinka Jegede and Anor And Independent National Electoral Commission (INEC) in Appeal No: SC 448/2021 delivered on July 28, 2021 whether the 1st Defendant, who is the governor of Yobe State and the Caretaker Committee Chairman of the 3rd Defendant has not ceased to hold the office of the governor of Yobe ‘State? "Having regard to the clear provisions of Section 187 (1) of the Constitution of the Federal Republic of Nigeran 1999 (a amended) and the state of the law whether the 2nd Defendant can lawfully occupy the office of the governor or deputy governor of ‘Yobe State upon the cessation of the 1st Defendant's occupation of the Yobe State governor's office." The plaintiffs submitted

that if the questions were answered in the affirmative, the court should declare "that the 1st Defendant breached the clear provisions of Section 183 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) when as the governor of Yobe State, he accepted 3rd Defendant's appointment as the Caretaker ‘Committee Chairman and proceeded to occupy the office "A Declaration that the 1st Defendant, who is the governor of Yobe State and the Caretaker Committee Chairman of the 3rd Defendant has ceased to hold the office of the governor of Yobe State having regard to the clear provisions of Section 183 of the Constitution of the Federal Republic of Nigeria, 1999 as amended). "A Declaration that having regard to the judgment of the Supreme Court on Eyitayo Olayinka Jegede and Anor And Independent National Electoral Commission (INEC) in Appeal No SC 449/2021 delivered on the 28 day of July 2021, the 1st Defendant, who is the governor of Yobe State

and the Caretaker ‘Committee Chairman of the 3rd Defendant has ceased to hold the office of the governor of Yobe State "A Declaration that the actions of the Ist Defendant as the Caretaker Committee Chairman of the 3rd Defendant while he remains the governor of Yobe State are wrongful null and void, "A Declaration that having regard to the clear provisions of Section 187 {1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the state of law, the 2nd Defendant cannot lawfully occupy the office of the governor or deputy governor of Yobe State upon cessation af the 1st Defendant's occupation of the office of the governor of Yobe State "An Order directing the Chief Judge of Yobe State or any other relevant judge in his absence to immediately swear in the 2nd and 3rd Plaintiffs as governor and Deputy governor of Yobe State, the offices having become vacant." No date has been fixed for hearing of the suit.

FRIDAY AUGUST 13, 2021 • T H I S D AY

FRIDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Buhari, Atiku, Tinubu, Governors, Others Mourn Late Mohammed Fawehinmi Deji Elumoye, Chuks Okocha in Abuja, and Segun James, Wale Igbintade in Lagos

President Muhammadu Buhari, former Vice President Atiku Abubakar, Lagos State Governor Babajide Sanwo-Olu, and Ekiti State Governor Kayode Fayemi were among prominent Nigerians who on Thursday condoled with the family of the late human rights activist and lawyer, Gani Fawehinmi, over the death of their son,

No date yet for burial, says family Mohammed. The Fawehinmi family officially announced the death of Mohammed yesterday, but said they awaited the arrival of Saheeed Fawehinmi (the eldest living son) from the United States before a date could be fixed for the burial. Buhari, in a statement issued yesterday by his media adviser, Femi Adesina, commiserated

with Ganiat, mother of the deceased, and the entire Fawehinmi family. He urged them to find comfort in God, who gives and takes, and draw consolation in the fact that the departed robustly fought a debilitating condition, which had confined him to the wheelchair for many years. The statement said concerning the late Mohammed, "His body

may have been broken, but his spirit was virile, agile, and he kept the flag of the family flying, doing justice to the memory of his late father." While praying for the repose of the soul of the departed, Buhari urged strength for all those who mourned Mohammed. Expressing his condolences to the Fawehinmi family, Atiku said he received with shock and

sadness reports of the passing away of the younger Fawehinmi. Atiku paid tribute to Mohammed for having worked tirelessly to fill the huge gap created by the death of his father in his selfless service to humanity. In a statement by his media aide, Paul Ibe, the former vice president noted that it was undeniable “that the loss of

Mohammed is a hurt to the law profession and especially the civil society space, which has become a lifetime commitment of the Fawehinmis". He expressed his deepest condolences to the Fawehinmi family, particularly its matriarch, Ganiat. Sanwo-Olu, in his condolence

would be historic. However, all 19 OMLs will be extremely hard to shift in the current environment,” it said. McKenzie disclosed that there could be as much as four billion barrels of Oil Equivalent (BOE) across the JV. “However, we consider only 20 per cent to be commercial due to a lack of investment, crude theft, insecurity and gas market constraints. Five of the OMLs are undeveloped. “Our valuation of Shell's 30 per cent in the JV (excluding export pipelines and terminals) is $2.3 billion, at Net Present Value (NPV) 10, Jan 2021, $50 long-term oil price. But this is based on the current sub-optimal, business-as-usual investment profile,” it noted. McKenzie stressed that a competent buyer/operator, giving priority to the assets, could commercialise much more than 20 per cent of the resource base, although the availability of funding for the JV partners will, as ever, dictate how much. The firm said the recently passed Petroleum Industry

Bill (PIB) overhauls the fiscal regime offering materially lower oil royalties and taxes, hence, there was much more upside than downside to its base case, which bidders would need to carefully quantify. “Few, apart from Seplat have created value through Mergers and Acquisitions (M&A). Overpaying for resources in the ground has been disastrous for some previous buyers, so an appreciation of what is fair value given all the above-ground risks and opportunities is essential,” it added. In February, a Dutch court held Shell’s Nigerian subsidiary responsible for multiple oil pipeline leaks in the Niger Delta and ordered it to pay damages to farmers, leading van Beurden to call its Nigerian onshore assets as a “headache”. The company’s onshore joint venture SPDC has sold about 50 per cent of its oil assets over the past decade, with its stake in SPDC giving it 156,000 barrels per day of oil equivalent in 2020, of which 66,000 barrels were oil.

Continued on page 12

DIVESTMENT: WOOD MCKENZIE VALUES SHELL’S EQUITY IN JV ASSETS AT $2.3BN divestment of its Nigerian assets, especially those in the shallow-water and onshore and that the oil giant had already hired Standard Chartered to sell its SPDC, in a deal which could be one of the biggest in Africa. A Shell spokesman had told THISDAY that the company was in talks with the Nigerian authorities to ensure a smooth transition in whatever course the company decides to take concerning its activities in the country, but declined to go into the specifics. “Discussions with the Nigerian government are ongoing on the next steps for our onshore business in Nigeria. We are in the early stages of reviewing the commercial options,” the Shell official had stated. In May, the company’s Chief Executive Officer, Ben van Beurden, had while speaking at the company’s annual general meeting, said Shell could no longer afford to be exposed to the risk of theft and sabotage in its Nigerian operations. But according to the latest document, 19 Oil Mining Leases (OMLs) would be put up for sale by the oil giant in onshore locations and shallow waters in the company’s eastern and western operations in the Niger Delta. But the company is only selling its 30 per cent equity in the Joint Venture (JV) assets, while the rest is owned by NNPC (55 per cent), Total (10 per cent), while Eni owns per cent in the NNPC-Shell JV. Wood McKenzie, also known as WoodMac, described the move as radical, saying the decision could have seemed unlikely only 12 months ago, but was highly symbolic of what the energy transition means for IOCs in Africa, especially 63 years after the company produced its first barrel in Nigeria. It listed the assets up for sale as OML 11, OML 20, OML 21 (Assa North), OML 22 (Enwhe), OML 23 (Soku), OML 25, OML 27, OML 28 (Gbaran-Ubie), OML 31, OML 32, OML 33, OML 35, OML 36, OMLs 43 and 45 (Forcados-Yokri), OML 46, OMLs 74 & 77 and OML 79. Giving a background to the company’s decision to divest from the facilities, McKenzie stated that emissions from Shell's assets in the onshore and shallow water

delta are among the highest in its global portfolio. It stated that this was due to ageing infrastructure, underinvestment, vandalism, continued flaring and the harsh operating conditions, adding that until now, Shell has sold oil blocks but kept gas blocks supplying Nigeria Liquefied Natural Gas (NLNG). It further stated that the integration of the assets with oil infrastructure coupled with the ever-present security risks may have further persuaded Shell that a clean break from the onshore delta is, on balance, preferable. “Although Shell would rely on third party gas supply into NLNG (in which it holds 25.6 per cent), existing contracts would be novated to a buyer, while it can meet most of its Train 7 supply from OML 144, which is outside the JV. “The domestic gas market continues to be extremely challenged as evidenced by the recent announced 13 per cent cut in gas-to-power prices. Rather than sell single OMLs, Shell is seeking buyers for asset

packages in the eastern, western and shallow water delta,” the firm stressed. However, the report stated that before any major decision could be taken, Shell must negotiate with NNPC (holder of 55 per cent in the JV assets), on the terms of a sale. “This could cover NNPC’s pre-emption rights, treatment of outstanding JV liabilities including decommissioning, the fate of the JV's terminals, transfer of staff, and host community approval,” it said. According to McKenzie, Shell's priority was identifying credible buyers and ensuring deal completion and wants to limit negotiations to hand-picked bidders only, thus avoiding a long drawn-out process, but would need NNPC's buy in. However, the oil and gas consulting firm raised posers over the possibility of getting buyers, although it admitted that Nigerian independents and new entrants were eager to acquire under-invested assets with plenty of volume upside. “Playing at home, their

acceptance of risk differs markedly from international E&Ps, so there will be few in the latter category. But in the energy transition era, can bidders raise enough finance to acquire, and invest in, a challenging portfolio of swampy assets?” it asked. It noted that deal financing would be necessarily complex to mitigate risks, but pointed out that the recent OML 17 transaction highlighted that with a consortium of buyers backed by local and international lenders with multiple layers of debt, commodity traders would see off-take opportunities in return for funding and some may even consider equity. According to the report, Shell itself may provide finance to help smooth deals and could maintain an indirect interest in the OMLs, perhaps within a special purpose vehicle, coupled with a clear exit strategy. “This would get assets off the balance sheet, and provide more comfort to lenders. Contingent payments might also feature. Innovative solutions will be needed. A complete sell-off

PRESENTING REPORT OF MARKET RESEARCH... L-R: Associate Partner, People Transformation pcl., Olawanle Moronkeji; Partner, Digital and Technology Consulting pcl., Jason Ikegwu; Director, Economic Growth, Federal Ministry of Finance, Budget & National Planning (MFBNP), Mr Aso Patrick Vakporaye; MD, Nigerian Film Corporation (NFC), Dr Chidia Maduekwe during the presentation of the ﬁnal report of the Market Research and Institutional Study of the Audiovisual training sector in Nigeria conducted by Phillips Consulting, in Jos, Plateau State...recently

BANKS TO SANCTION CUSTOMERS INVOLVED IN FRAUDULENT FX PURCHASE by NIBBS where you would be able to apply online. “Today, the NIBBS already has a portal where the banks share information and what we do is to make sure that the rules around being able to apply for PTA or BTA once a quarter by bringing in your ticket is enhanced. With this, we would be sharing your information on the portal.” On possible penalties for people who may want to defraud the system, he said: “This is very important information because, if we find, as we have started to see, that people are trying to defraud the system, we would capture this on the portal.

“And the banks will report the individuals to the CBN. The likely punishment is that your account would be PND. And if you understand what that means, PND means you would not be able to do anything in the banking system. “So, while we are committed, this is not for people who want to game the system, this is for people who have genuine needs. And so fraudulent transactions or fraudulent individuals will be reported to the CBN and the portal would help us do this.” He said advanced countries mostly frown at holding large quantities of cash. “We are also hoping that

all the transactions would not just be cash. The world today is not completely friendly about arriving in countries with cash, so we are hoping people would be able to put this on their cards to use when they travel for medicals, so they are not lodging cash around and fill cash declaration forms when they get into countries. “We have also examined the nature of things and we believe that most people who would qualify for medical, school fees or BTA and PTA would be people who have banks accounts anyway. “We are committed to doing this and it is for people who have legitimate needs. We do

not want fraudulent transactions taking place in this space and we would continue to make it quicker, faster cheaper and more efficient by digitising things, putting them in cards and so on.” The committee also announced progress being made in the ongoing rehabilitation of the National Theatre, Iganmu, Lagos, saying it was on track to meet the 2022 completion target it had fixed earlier. The committee also promised that local contractors would be given preference during work on the edifice. In his contribution, the Managing Director, Citi Bank Nigeria, Mrs. Ireti Samuel-Ogbu

said: “It is important for the public to know that there would be sanctions when people abuse the system. This is all about ensuring the FX is fairly allocated among legitimate users and we have digital means of being able to determine when people are using fraudulent documentation or wanting to game the system in a way that wasn’t intended.” Also speaking, the Group Managing Director Access Bank Plc, Mr. Herbert Wigwe said: “Banks have been criticised for not being able to handle PTA and BTA transactions and just to let people know that we would continue to exercise due diligence required with respect

to KYC and compliance. “FX is a scarce resource, so if we find people coming up with tickets that have expired or tickets that are going to be canceled, or illegitimate passports or people buying more than they are supposed to buy, they will be reported to law enforcement agencies. People should comply with the rules as stipulated by the CBN.” On the development and completion of the national theatre, he said: “Most of the contract would be awarded sometime in September and we expect that the entire project that is the national theatre and the various verticals should be completed by December 2022.”

FRIDAY AUGUST 13, 2021 • T H I S D AY

FRIDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

FG: Nigeria Imported N1.8tn Used Vehicles in One Year Pilot phase of VREG begins in Lagos

Ndubuisi Francis in Abuja The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday disclosed that a case study has revealed that N1.8 trillion worth of used vehicles were imported into the country between October, 2018 and September, 2019. The minister revealed that Nigeria was the hub of stolen as the Vehicle Identification Number (VIM) of vehicles in the country were usually unregistered, hence automobiles within the shores of Nigeria cannot be traced. Ahmed, who spoke in Abuja, yesterday, at a seminar on the National Vehicle Registry Policy of the federal government, said it was in a bid to address these challenges and more that her ministry

launched the National Vehicle Registry (VREG). Since her ministry is saddled with the responsibility of managing the nation’s finances and revenue streams, Ahmed stated that in the midst of dwindling revenue orchestrated by falling oil prices, a mono-economy further worsened by revenue leakages from unplugged loopholes such as Customs duty payment evasion, it became imperative that the government be responsive to these issues. Consequently, she stated that in line with the Strategic Revenue Growth Initiative, the ministry conceived and launched the VREG automated gateway portal, as a means of leveraging technology infrastructure to maximise revenue generation for Nigeria

as well as to enhance national security. These she listed to include curtailing kidnapping, utilisation of vehicles in crime perpetration and terrorism. VREG, she stated, is a national repository of vehicular information which seeks to provide a singular platform through which all relevant agencies shall reference vehicular data with a view to ascertaining ownership and value information, capturing vehicular exchanges and utilising the Vehicle Identification Number (VIN) of all vehicles in Nigeria. She noted that additional value was also accruable to the federal government, states and related agencies through the policy. The minister stated: "For the records, the National

Bureau of Statistics confirmed that between 2015 and 2019, Nigeria imported an average of 300,000 vehicles with an average of 48 per cent increase in import annually. While an additional 45 per cent of vehicles are smuggled into the country annually, thus evading duty payment of which 40 per cent of these vehicles are stolen vehicles. "A case study also revealed that between October, 2018 to September, 2019 the country recorded over N1.8 trillion value of used vehicle importation. It was further revealed that Nigeria was the hub of stolen vehicles as Vehicle Identification Number (VIM) of vehicles in the country were usually unregistered, consequently, vehicles within the shores of Nigeria cannot be traced."

The minister added that the VREG system would, among others, serve as a single source of validation at the point of vehicle registration while capturing and storing all vehicular information over the life cycle of every vehicle for the purpose of effective motor vehicle administration, ensuring the enforceability of penalties placed on vehicles by regulators across board and ensuring accurate monitoring, documentation and tracking of vehicular activities across the nation, to enhance National Security. The VREG, she stressed, is powered by interconnected interactions of key agencies, parties, and stakeholders. “These communication and connection channels facilitate the robust functionalities of the national vehicle registry.

The stakeholder relationships that will facilitate the achievement of the goals of VREG include: Interchange of information with the Federal Road Safety Corps (FRSC) and state revenue systems on nationwide vehicle registration, ownership, history, and for proper road traffic regulation and violation enforcement," she said. The minister added that the stakeholder relationships also include providing the Nigerian Customs with guidance in all clearing, duties, registration and redistribution of vehicle, targeted at ensuring that all vehicles are trackable and taxable. She announced that the pilot phase of VREG has commenced at the Nigeria Customs Service (NCS) Kirikiri Light Terminal.

Indonesia: Secondus Seeks Stiffer Penalty, Bemoans Debasing of Nigerians Abroad The National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has called on the federal government to apply the stiffest penalty on Indonesia over the humiliating treatment of a Nigerian diplomat by their security officials. Secondus, who expressed deep discontent on the matter charged Nigeria government to apply no constraints in responding to the unprovoked and unwarranted manhandling of the Nigerian diplomat. According to a statement from his media, the PDP boss said no Nigerian should receive such dehumanising treatment more so to a diplomat, who enjoyed some privileges while on duty to any country. He said every reasonable step should be taken including recalling Nigeria Ambassador to Indonesia and/or the expulsion of their ambassador here if adequate remorse and commensurate punishment was not meted out to those Indonesian officials. Secondus expressed sadness that under the reign of the All Progressives Congress (APC), Nigeria has been debased and her nationals flagrantly insulted and humiliated abroad.

"These needless insults on Nigerians must stop. I know that APC misrule has helped to aggravate this unfortunate development, but we must

protect our humanity in the comity of nations.” He said the ugly development was a fallout of the internal handling of

rule of law in Nigeria by the ruling government that has blatantly done things that were not within the purview of decency and law.

Secondus said the dignity of Nigerians abroad must be reestablished using the Indonesia case as example to other nation harboring any

phobia against Nigerians, pointing out that the World was watching to see how Nigeria would handle the Indonesian assault on her.

NIGERIA-ARABIAN GULF CHAMBERS OF COMMERCE MEETING... L-R: Nigeria's Ambassador to the United Arab Emirates, Amb Mohammed Rimi; Minister of State, Federal Ministry of Industry, Trade and Investment, Hajia Maryam Yalwaji Katagum and the Minister in the Ministry, Otunba Adeniyi Adebayo, during a meeting with the delegation of Nigeria-Arabian Gulf Chambers of Commerce in Abuja...yesterday

BUHARI, ATIKU, TINUBU, GOVERNORS, OTHERS MOURN LATE MOHAMMED FAWEHINMI message, described the death

of the eldest son of the late legal luminary and human rights activist as a colossal loss to the civil society movement in Nigeria. The statement signed by the governor’s Chief Press Secretary, Mr. Gboyega Akosile, noted that just like his father, the late Mohammed stayed the course with his persistent fight for the rights of the Nigerian people. Sanwo-Olu added that the late Mohammed did not live under the shadows of his father, as he had grown to become a dependable comrade. He commiserated with Ondo State Governor,

Mr. Oluwarotimi Akeredolu, and the entire people of Ondo State on the demise of their illustrious son. The Lagos State governor stated, “As a civil rights activist, he spent his life in the service of humanity and particularly for the emancipation of the Nigerian people. Mohammed Fawehinmi was as consistent as his father, the late Chief Gani Fawehinmi. He kept the flame of his father burning by fighting for the masses even on his wheelchair.” The late Gani Fawehinmi’s ally and fellow human rights activist, Mr. Femi Falana, while offering his condolences, said in

spite of the challenge of insecurity, poverty and underdevelopment plaguing Nigeria, Mohammed strongly believed that a new Nigeria was possible. Falana stated, “As a chip off the old block, Mohammed was courageous, dedicated, knowledgeable and committed to the liberation of the Nigerian people from the shackle of injustice in all its ramifications. Mohammed will be surely missed for his unwavering commitment to the struggle for a united, just and prosperous Nigeria.” Former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, said the news of the

sudden death of Mohammed was depressing. Tinubu said, “Like his father, he was a lawyer totally committed to engendering societal change and development through the instrumentality of the law. “But for the incapacitation arising from his devastating road accident, Mohammed would surely have risen to the full stature of his potential. Even then, he refused to be constrained by his physical state or confined to the wheelchair.” Ekiti State Governor, Dr. Kayode Fayemi, described Mohammed’s sudden death as shocking and very

unfortunate, adding, “it is a great loss not only to the late Fawehinmi’s family and the civil society organisations but also the masses whose rights Mohammed fought to protect.” Fayemi, who is also chairman of the Nigerian Governors Forum, said the late Mohammed, as his father, was very passionate about getting Nigeria to work better for the citizenry. He added that the deceased always sought a better Nigeria through constructive criticism of the government. Meanwhile, addressing the press yesterday evening in Ikeja, Mrs. Basirat Fawehinmi-Biobaku, the

eldest daughter of the late legal icon, said members of the family were still in shock and saddened. A statement from the Fawehinmi family read, "It is with our deepest sorrow that we announce the sudden demise of our eldest brother and Chairman of the Board of Nigerian Weekly Law Reports, Barrister Mohammed Fawehinmi. "He passed away at 9.00am on the 11th day of August, 2021 after a brief illness in a Lagos hospital. We are saddened and still in shock but will announce his funeral arrangement in due course after consultation with all relevant stakeholders."

FRIDAY AUGUST 13, 2021 • T H I S D AY

T H I S D AY • FRIDAY, AUGUST 13, 2021

COMMENT

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

WHERE IS CAPTAIN HOSA?

Osagie Ize-Iyamu pays tribute to Hosa Wells Okunbo, airline captain and businessman

young boy, not the eldest child, from an average home in a rough neighborhood in Benin, an ancient city that is the capital of the old Benin Empire which has been relegated to the status of a minority group in the country, could have been limited by this background. No one would have thought that greatness would arise from such an environment. Notwithstanding, the young man was brilliant and dared to dream dreams bigger and higher than his location. Just like your gifts will make room for you, his exceptional performance at the highly competitive primary school examination saw him admitted to the Federal Government College, Warri, an elitist institution meant only for the very best. This new-Benin boy, without parental or state connection but his brain and dream excelled at the college. Rather than study medicine, engineering or architecture in the university, he chose to attend the Nigerian Aviation college, Zaria. That choice was the first signal that this young man was determined to fly and not walk. He passed out with flying colours and at the tender age of 21, became a decorated airline captain. He flew thousands of hours locally and internationally without accident and to the amazement of admirers, he announced his retirement at the very young age of 30. Armed with the title “Captain”, he flew into the oil and gas industry and within a short period carved a niche for himself in spare parts procurement and maintenance. He prospered, acquired jets and became a household name in wealth distribution. His philanthropy was unrivalled and the more he spent the more he flourished. Where others saw problems, he saw opportunities. When piracy became notorious in our water ways, he incorporated Ocean Marines, a company that specializes in providing security to oil vessels plying our waters. Captain became not just an air captain but also a sea captain.

THE SUCCESS OF CAPTAIN LIES IN HIS UPWARD LOOK. WHILE OTHERS LOOK DOWNWARD AND LAMENT PROBLEMS, HE LOOKS UP AND PROVIDES SOLUTIONS

In Abuja, the Federal capital, he added value to the physical and architectural landscape of the city by building a five-star hotel the magnificent Wells Carlton, thereby making himself not just a landlord but a land captain. In his home state of Edo, he established the first ever greenhouse vegetables farm which was commissioned by Vice President Yemi Osinbajo. The farm like many of his enterprises can best be appreciated from the sky. The success of captain lies in his upward look. While others look downward and lament problems, he looks up and provides solutions. Who was captain looking up to? The answer is God. Captain believed so much in God that he would spend hours worshipping him. His good works and love for people was borne out of his unwavering love for God. He built churches and supported those working for God. He would frequently tell his friends that if not for God, where would he have been? He devoted time to seeking the face of God especially in handling complex issues. He was quick to forgive and cherished relationships. He was happily married with lovely children and grandchildren. He loved his siblings and family dearly. Though he had an abundance of material possessions, his focus was not earthly but how to make heaven. When his illness was diagnosed Captain told me - “Osagie, I am not afraid of death. God loves me so much that he told me ahead when I will die giving me the unique opportunity to put my house in order”. Truly, when the news later came that captain had departed, I knew that my brother, friend and confidant Captain Hosa Wells Okunbo had entered the cockpit again to fly, but this time, to Heaven. Farewell my dear Capitano Pastor Ize-Iyamu wrote from Benin City, Edo State

WHY I’M UNREPENTANTLY NIGERIAN Nigeria needs patriotic and purpose-driven leadership, writes O. Jason Osai

am of the generation of Nigerians that prayed to God in song to save Her Majesty, the Queen of England during Empire Days, hailed Nigeria from October 1, 1960, hailed Biafra for almost three years, returned to hail Nigeria again and, thereafter, implored compatriots to arise and obey Nigeria’s call. I was set back almost three years and lost many friends during those inglorious years of our national history. Irrespective of the fact that my guitar shielded me from going to the battlefield, I was perforated at 14 points by a warplane that strafed civilians against the rules of engagement and laws of war; as a result, I underwent seven surgeries in Africa, Europe and America to correct the damage done to my body. Yet, I am unrepentantly Nigerian. Many in my generation graduated at the top bracket of sometimes 90 percent Caucasian classes of universities in Europe and America thereby debunking the concept of White supremacy; the generation whose essays were used as models in English 101 classes in which they were, in many cases, the only black; the generation that shopped in Manhattan, New York City and other world shopping districts with the Naira at a time it was superior to the dollar and at par with the pound; the generation that walked the streets of world capitals brandishing the green passport with pride borne out of the respect it commanded then; the hardworking generation that took advantage of the credit hour system of American education and earned bachelors’ and masters’ degrees in

four years and headed home straightaway. For instance, immediately Olalekan Biobaku dropped his pen for his MBA, he rushed from Murray, Kentucky to Nashville, Tennessee and took the next flight to Nigeria; he did not wait for his certificate for he knew that, given the optimal efficiency of the American system, it will be sent to him promptly; and it was. I am unrepentantly Nigerian. My generation rejected mouthwatering offers that followed the affirmative laws that came at the heels of Alex Haley’s epic movie, Roots in the 1970s. I am unrepentantly Nigerian. Nevertheless, I must confess, sometimes in my quiet moments I ask myself if this is the country I rejected the offer of American Dream come through. Now at the “Departure Lounge of Life” in this encasement, my brain cannot memorize a fifth anthem neither can my feeble lungs vocalize it. One of us who had the privilege of travelling all over the world and also travelling by road and low altitude aircraft throughout Nigeria once averred that “no nation on earth is more endowed than Nigeria”. This nation is so amazingly gifted it can be for Negrodom what London and Rome are for Caucasians, what Mecca and Medina are for Moslems, what Jerusalem is for the Jews and much more. It is therefore a colossal tragedy that millions of Nigerians go to bed hungry on a daily basis… the greater tragedy is that Nigeria is governed by a preponderance of idiots and tribalists instead of citizens in the Greek sense of these categorizations. Fast forward to the current genera-

tion, Pastor Enoch Aminu says “in all the universities in America, Nigerians are top-notch”. Naturally, Nigerians are achievers, I am unrepentantly Nigerian. Granted that the centrifugal forces in Nigeria politics have ravaged the social fabric of the nation, the truth remains that what the nation needs is patriotic and purpose-driven leadership such as Lee Quan Yew dutifully demonstrated in Singapore, Nelson Mandela gracefully gave to South Africa, John Magufuli dedicatedly delivered in Tanzania and Paul Kagame is painstakingly providing for Rwanda. I am unrepentantly Nigerian. In a 1995 academic article titled “The Inevitability of a Revolution in Nigeria”, I called for a revolution of our minds. In that piece, I offered that “if we are incapable of a peaceful revolution then there should be a bloody one; if it means killing every Nigerian from 45 years and above, I am for it as long as it ushers in the desired change.” You see, I was 45 years old at the time, which means that I was ready to die in that process. I am unrepentantly Nigerian, and I believe that we need a radical departure from our state of consciousness. Nigerian leaders must break loose from the stranglehold of the ossified creeds of organized religion, imbibe the consciousness of patriotism and wean themselves from the neurotic craze for acquisition of massive wealth. Obviously, vesting the resources in the state governments will simply move the point of profligacy, pilfering and pillage from the national treasury to the State treasury. The enduring way forward is that government

should give back the people their lands that it stole through dispossessional decrees and laws. The landowners in Zamfara State should mine their gold, the people of Igbeti should harness their marbles, the people of the Niger Delta should extract their crude oil and gas and the peoples of various communities in this prodigiously endowed nation should harness their natural resources and pay taxes; government should concentrate on its traditional regulatory role. Granted, the above thesis will create systemic imbalances and socioeconomic disparities, these can be mitigated through a discriminatory tax regime such that the agricultural sector pays minimally while the other sectors pay objectively graded percentages. With this, government will become lean and unattractive for bounty hunters while attracting only those who desire to serve; the political firmament will become cool. Most importantly, the abundant productive forces of the nation will be invigorated towards a robust private sector in the tradition of Adam Smith’s economic classic, Wealth of Nations. I am unrepentantly Nigerian. My plea is that “we depart from this gross thoughtlessness in the very serious business of governance” in the current global amphitheater, which is impenitently Hobbesian. Otherwise, I shall fill my aged lungs in readiness to sing nunc dimitis and, subsequently, a new anthem. Worrisomely, that may be tragic for the Black Race. Prof Osai is of the Political Science Department, Rivers State University, Port Harcourt

T H I S D AY • FRIDAY, AUGUST 13, 2021

EDITORIAL

HAZARDS OF PLASTICS LITTER It’s time to control the reckless use of plastic materials

cientists have raised global concern that plastics pose unimaginable danger to humanity and may reach crisis levels unless deliberate actions are taken to reverse the trend. The warning is particularly important for Nigeria since it is believed that plastic bags that are used daily can take between 10 to a thousand years to decompose, while plastic bottles can take 450 years or more. Yet, because single-use plastics are light, strong, can be shaped easily and cheap to produce, they litter the entire national landscape. In 2018, Nigeria was estimated to have discharged around 200,000 tonnes of plastic waste into the ocean per year, while its annual plastics production with a projection that it would grow to 523,000 tonnes by next year. As hazardous as that is for the future of the country, not much attention is being paid to the problem. According to experts, the process of manufacturing plastics and its disposal through burning/incineration is harmful to workers THE GOVERNMENT NEEDS and that it does not TO TAKE CONCRETE decompose makes ACTIONS TO PROTECT THE farming cumbersome ENVIRONMENT AND RID and kills livestock. IT OF PLASTICS AS SOME Also, studies show AFRICAN COUNTRIES HAVE that single-use DONE BY PLACING A BAN plastics are harmful to the environment ON PLASTIC BAGS, THE and have suggested MOST COMMONLY USED that manufacturers FORM OF PLASTICS of plastics can switch to reusable products because single-use plastics’ waste can take up to a thousand years to decompose in landﬁlls/dumpsites. Eighty per cent of litters, according to the United Nations Environment Programme (UNEP), are plastics, and they may constitute more of foreign materials in the sea than marine mammals by year 2050. This would eventually lead to the destruction of sea life, and adversely alter the ecosystem and human race. The Nigerian Conservation Foundation (NCF) believes the disposal of plastic waste needs to be handled with urgency and that everyone has a criti-

Letters to the Editor

cal role to play in mitigating the issue at the household, national, regional, and global levels. With worldwide awareness and action for the protection of the environment, there is an urgent need for government at all levels in the country to trigger actions that would control the production and use of plastics that are not reusable or cannot decompose. Nigeria’s environment is indeed polluted by all manner of plastics–from the straw for sipping beverages to those used for packaging and storage. The nagging question that keeps cropping up is, what can be done about the menace that neither the society nor the authorities seem to be paying attention to?

E T H I S DAY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGED ENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

very household or ofﬁce or neighbourhood in the country has various types of plastics that are not recycleable/reusable and which at end-of-life are littered on the streets, caught in fences and trees, dumped in drains, rivers and lagoons, the ocean and all manner of places where they cannot biodegrade (decompose). Every year, the federal government only perfunctorily ‘mark’ the World Environment Day without bringing some of these issues that impact on the future of our country into public discourse. The government needs to take concrete actions to protect the environment and rid it of plastics as some African countries have done by placing a ban on plastic bags, the most commonly used form of plastics. Some of the African countries that have banned plastic bags include Benin Republic, Cameroon, Chad, Eritrea, Ethiopia, Morocco, Mozambique, Malawi, Niger, Rwanda, Madagascar, Senegal, Gabon, Gambia, Guinea-Bissau, Ivory Coast, Tanzania, Tunisia and Kenya while Botswana and South Africa introduced high levies on plastic bags. This has led to many retailers charging a fee on plastic bags and consequently a reduction in its use in both countries. It is not enough to join the World Economic Forum’s Global Plastic Action Partnership (GPAP) as we did in January. Nigeria should also take a positive position on the eradication of plastic pollution in the overall interest of our people and future generations.

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.

BETWEEN UNEMPLOYMENT AND SUMMER SCHOOLS

rowing up as a child was hectic. My school was meant to close by 2pm. But my parents organised an after-school lesson which started by 3pm and ended by 6pm. Besides, I was made to read my books from 8pm to 9pm, and to go to bed

by10pm. I was always anticipating the long vacation, popularly known as “summer holiday,” so I could have a break, to rest and play as much as I could. But this joy was cut short as I was faced with another compulsory classes called summer holiday. The Western education curriculum is designed in such a way that the children could have a break to themselves but our parents tend to take it to extra height without considerations for other aspects of the child’s life. I am not aware that these children faced with such “hard” life called “perpetual education” have become geniuses. Some of these parents still paid for malpractices during professional examinations like WAEC or NECO to enable their wards attain good grades. What then is the essence of this forced trauma that children are made to go through? Children deserve some break to enable them refresh from classroom lessons, an opportunity provided for by

the summer holidays. With rising cases of unemployment in the country, it would be better to put the summer holidays into better use by equipping children with some skills which could be put to use in future. Basic skills such as tailoring, baking, arts and craft, computing and programming skills can go a long way in bridging the gap between unemployment and academic work. The scarcity of white collar jobs has made it so difficult for our graduates to adapt to the realities of the labour market after passing out from the compulsory one-year service to fatherland. This is because during their formation days, they have been deprived of the basic orientation that will prepare them for the ever-changing world, and the skills needed to adapt to this reality. Nigeria has the highest numbers of unemployed youth in Africa today and this can be attributed to dependency on certificates for white collar jobs. Parents approach to Western education and securing a child’s future needs an urgent and critical review. Children could do better if they are allowed some break. They could take a skill out of the many skill sets that abound. Some children could make a better life out fashion designing, dancing, singing, and more. Western education is good but it doesn’t guarantee a bright future for everyone. Anthonia Ojoma Adejoh, PRNigeria Center, Kano

FRSC AND N30,000 PENALTY

ederal Road Safety Corps is the government agency with statutory responsibilities for road safety administration in Nigeria. Founded in 1988, the FRSC operates in all the states as well as the Federal Capital Territory. The statutory functions include making the highways safe for motorists by minimizing accidents and educating motorists and members of the public on the importance of road discipline on the highways.

Traffic offences are designed to ensure that drivers and car owners respect the right of other road users and make safety a priority at all times. However, despite the existence of traffic laws, some drivers flout these rules. Sometimes, these laws are flouted out of ignorance. To ensure that such laws are protected, the government attaches penalties to them as a means of correcting erring drivers and road users. For example, the penalty for disobeying traffic control personnel as a first offender is pegged at N20,000.00 while subsequent offence is N30,000.00 in Lagos. Not long ago, a man who was driving without a fire extinguisher narrated how he was extorted by an officer on duty. Although having a fire extinguisher in your car is a safety precaution, I believe a first offender should be warned and allowed to go.

Adebayo Ibrahim, PR Nigeria Center, Kano

FRIDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS ANALYSIS

As Shell Finally Agrees to Pay Ogoni Communities N45.9bn

inally, Shell Petroleum Development Company (SPDC) on Wednesday agreed to pay the N45.9 billion awarded to the Ogoni people as compensation for oil spills in their communities. The decision was sequel to an order by Justice Ahmed Mohammed of a Federal High Court in Abuja which gave the oil exploration giant a 21-day ultimatum to pay the judgment sum awarded against it several years ago for oil spills in the area. When the case came up before the court on Wednesday, counsel to Shell, Aham Ejelamo, informed the court that his client had agreed to make the payment. He proposed that the money be paid through the Registrar of the court in a bank about to be opened for the purpose. But Justice Mohammed ruled against the request and ordered that the payment be made within the period given through the account of the lawyer to the Ogoni people, Mr. Lucius Nwosu. He explained that this was in line with the decision of both the High Court and the Supreme Court. The judge explained that it would amount to burying the judgment of the apex court to rule otherwise. Recall that the Supreme Court had for the second time last December, dismissed Shell’s application seeking to set aside the judgment given against it on January 11, 2019, over a 1970 oil spill in a community in Rivers State. A five-man panel of the court in a unanimous ruling dismissed Shell's application as lacking merit. Justice Centus Nweze who wrote the lead ruling in the case, marked: SC/731/2017, which was read by Justice Samuel Osuji, agreed with the respondents, Ejama-Ebubu in Tai Eleme Local Government Area of Rivers State, that Shell’s application was an invitation to the court to overrule itself. The judge said after a thorough examination of the briefs filed by parties, he elected to uphold the preliminary objection raised by the respondents (victims of the oil spill, led by Chief Isaac Osaro Agbara). He, therefore, dismissed the application and ordered parties to bear their respective costs. The same court in a ruling on January 11, 2019, first dismissed the appeal by the oil exploration giant an earlier decision of the Court of Appeal on a June 14, 2010 judgment of the Federal High Court, which awarded damages against the company. Arguing the preliminary objection on September 22, respondents’ lawyer, Lucius Nwosu (SAN), queried the jurisdiction of the Supreme Court to entertain Shell’s application, which he said was intended to make the apex court sit on an appeal over its decision. Nwosu contended that Shell’s application was an abuse of court process because there was no longer a pending appeal on which it wanted the court to act. He noted that, on learning about Shell’s fresh application, his clients wrote the Chief Justice of Nigeria (CJN) to enquire about the status of the oil company’s appeal. Nwosu said in a reply, dated February 14, that the CJN’s response showed that Shell’s appeal, “is a spent appeal. If the CJN has said the appeal is spent, how can the same appellant come and revive the spent appeal?” The lawyer, who said his clients had taken steps to execute the judgment, added that the same Shell, which was reluctant to compensate victims of its oil spills in Nigeria, had paid about $206 million damages in similar circumstance in Mexico. He regretted that Shell was

After 31 years of legal tussle, Shell Petroleum Development Company may have decided that it has had enough by agreeing to pay N45.9 billion compensation to some Ogoni communities ravaged by oil spillage some years ago, Alex Enumah writes unwilling to abide by the decision of Nigeria’s apex court after subjecting the victims to over 30 years of strenuous litigation in courts across the country. The substantive suit commenced in 1991 before a Rivers State High Court sitting at Nchia Division, when the Ejama community represented by Isaac Osaro Ogbara, Victor Obari, John Oguru, Joseph Ogusu, G. O. Nnah, George Osaro, and Adanta Obelle, sued Royal Dutch Shell Plc, Netherlands, Royal Dutch Shell Plc, United Kingdom, and SPDC over alleged oil spills which occurred when the oil exploration giant operated in the community in 1970s. Judgment was entered for the sum of N6billion in favour of the community by the Nchia High Court. That judgment was conceded on appeal because the Supreme Court had in a sister case decided that states High Court had no jurisdiction in oil related-matters. The plaintiffs in 2001 refiled the suit at the Federal High Court in Port Harcourt. After listening to the submissions of the parties in the suit, the presiding judge, Justice Ibrahim Buba, in his judgment in 2010, awarded N17 billion to the representatives of the Ogoni people. The court equally granted the Ogoni chiefs 25 per cent interest charge on the principal sum of about N17 billion. SPDC then appealed against the judgment and applied for a stay of execution of the judgment pending the appeal. As a condition for granting the stay of execution, the court required Shell’s bankers, FirstBank, to provide a guarantee of the judgment sum plus interest. This condition was complied with. But Shell’s appeal failed on merit because it failed to file a brief of argument in support of their appeal. Instead it claimed that they were granted leave to file an amended brief of argument, which the Court of Appeal found not to be correct. Against the agreement reached, Shell proceeded to the Supreme Court where its new lawyers filed a fresh application asking for leave to amend the original notice of the appeal filed by Olawale Akoni (SAN) at the Port Harcourt Division of the Court of Appeal registry in order for them to argue fresh points not raised at the court below and in order for them to argue 36 additional grounds of appeal. Upon the new application at the apex court, the respondents’ lawyer, led by Lucius Nwosu (SAN), filed a preliminary objection. Assisted by Lawal Rabana (SAN) and others, Nwosu argued that the findings of the Court of Appeal dismissing their appeal were based on facts, adding that the law is that an appeal must arise out of the decision complained against. He stated that if the decision complained against was based on findings of fact, the constitution requires that you cannot appeal them except you first seek leave of the Court of Appeal. The respondents’ lawyer contended that since that notice of appeal at the Court of Appeal was filed without leave, it meant that the notice was incompetent and cannot be amended because it would mean putting something on nothing and expecting it to stand.

Justice Kumai Bayang Akaahs who read the ruling on behalf of other justices led by the then Chief Justice of Nigeria, Justice Walter Onnoghen, said the notice of appeal filed by the oil giant was incompetent. He said motion filed on July 16, 2018 had no leg to stand on it ought not to have been filed and dismissed it in its entirety. But Justice Akaahs citing a plethora of authorities to back up his submission, held that since the notice of appeal filed by Shell sought to be amended was incompetent, no valid amendment could be effected because issues of fact or mix law and fact were raised in the original notice of appeal with leave of court. The Supreme Court justice agreed with the submission of Shell’s lawyer that an appellant who has a valid and subsisting appeal can seek the leave of court to do so, adding that in the instant case, there is no such valid notice of appeal that could be amended. However, while the case was still pending at the apex court, sensing that Shell was using delay tactics to prevent FirstBank from paying the judgment creditors the N17 billion judgment debt, in December 2017, they commenced garnishee proceedings at the Federal High Court in Owerr,i presided over by Justice Lewis Allagoa. They urged the CBN to pay them N122.53 billion out of FirstBank’s account in its custody. THISDAY gathered that they calculated the principal sum of N17 billion and the accrued 25 per cent interest charge per annum to arrive at the sum of

N122,533,403,392. In January 2018, Justice Allagoa granted them a temporary order (garnishee nisi) ordering the CBN to pay them the sum from FirstBank’s account with it. But the CBN asked the court not to make absolute the temporary garnishee order. The apex bank’s lead counsel argued that compelling the CBN to pay the N122.53 billion from FirstBank’s funds domiciled with it could have far-reaching consequences for Nigeria’s oldest and one of its biggest lenders by assets and deposits, and a systemic impact on the rest of the financial system and wider economy. However, Justice Inyang Ekwo of the Federal High Court in Abuja on March 2, 2020, made an order absolute. By the order made by Justice Ekwo, the CBN Governor was to order the release of the judgment sum from the account of First Bank. But Shell in a swift reaction to the Supreme Court verdict had seriously disputed the amount. The oil giant said the ruling of the apex court did not decide liability or the size of the award, which the Ogoni communities had noted stood at about N182 billion with the accrued interests. THISDAY gathered that seeing that the Supreme Court, which is the highest court in the country, has ruled against it on two occasions, the fact the amount has been considerably reduced, SPDC agreeing to pay the sum of N45.9 billion as ordered by the court, could mean that a permanent solution to amicably resolve the dispute had been reached.

FRIDAY AUGUST 13, 2021 • T H I S D AY

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

AUTOGRAPH

Long Live King Buni! Nseobong Okon-Ekong warns that the inclination to allow Governor Mai Mala Buni serve in two executive capacities as governor of a state a national chairman of a political party has the capability to destroy or impair our democracy

fter floundering from multiple crises which beset the seeming well-decorated stateship of the All Progressives Congress (APC), President Muhammadu Buhari stepped in in June 2020 to save the ruling political party from going under. This very skilful and opportune move resulted in the creation of the APC Caretaker/Extraordinary Convention Planning Committee (CECPC) with Governor Mai Mala Buni of Yobe State as acting National Chairman. Buhari believes Buni is the APC talisman; the goodluck charm that would reverse the ill-fortune of the days of Adams Oshiomhole leadership. However, from unfolding events, it looks like Mr. President underestimated the magical powers and Buni’s capacity to bring good luck. His initial tenure was to lapse in six months; meaning December 2020. But Buni turned on his power to fascinate others. He tested the waters with his first time-buying process; a registration/revalidation of members of the political party. It was a seemingly ingenious method of galvanising interest in the APC and opening its doors to compulsive joiners. Many now know it was a decoy to divert attention from the Yobe Governor ’s real intention to perpetuate himself in what was supposed to be a set assignment with an agreed terminal date. Buni, however, has adopted the slippery mannerism of a snake in the grass. This was not immediately clear to many. A registration/revalidation was not part of his mandate, but when he came up with the idea, he was widely applauded, anyway. What made it appealing was the fresh opportunity for APC membershipanyone and everyone was free to join; as opposed to the Peoples Democratic Party (PDP), where congresses had been held in many states and the executives properly constituted at the ward and state level. APC’s first National Chairman and former Governor of Osun State, Chief Bisi Akande raised an alarm, warning that the CECPC was alien to the constitution of the party and therefore, acts carried out by it would be null and void, in the eyes of the law. No one paid him any attention. Buni’s charm had captivated the APC hierarchy, the media and, arguably, all the stakeholders. A couple of plausible and hitherto impossible things started happening. Inside the life of his initial term of six months, Governor David Umahi of Ebonyi State dumped the PDP on November 10, 2020. It was a strategic foothold that increased the visibility of the APC in the South-east and brought it two states at par with the PDP, which was already in control of Enugu and Abia. With Ebonyi joining Imo, the APC fold in the South-east witnessed an appreciable increase in size. Basking in the glory of that admirable exploit, Buni asked for an extension of time, which was quickly granted. Again, his negotiation skills served him well and he was able to snap Cross River and Zamfara states from the PDP to the APC. Buni had become unstoppable! Three former governors of the main opposition PDP have been hypnotized by Buni. Like many success stories, he was steadily assuming the mentality of the invincible! Success had gone to his head. In his eyes, he could do no wrong; of course, urged on by a teeming population of sycophants. He requested and got a third tenure extension. By this time, Buni had achieved what former President Olusegun Obasanjo in all his military bravado and civil cunning failed to achieve-a Third Term! Everything is now set for a long reign with Buni as APC National Chairman. This possibility was nearly wrecked with the Supreme Court judgment on the 2020 Ondo governorship election, which has been differently interpreted by pro and anti Buni tendencies in

the APC. While the argument rages on, what is becoming increasingly clear is that Buni doesn’t intend to relinquish the APC top job. Already, Abubakar Malami (SAN) has bolstered the Yobe State Chief Executive’s confidence with his own understanding of the law, positing that Buni can serve in two executive capacities. Buoyed by an unthinkable interpretation of the law, Buni is going no where from the office of the Chairman of the APC. Having previously served as National Secretary of the ruling party, from where he became Governor of Yobe State, Buni understands and craves for the power of the Office of the National Chairman, from where he would hold all the aces to decide governorship candidates and the party’s presidential candidate in 2023. The question is if he so much desired the national chairman’s office why did he go on to warm the seat of Governor of Yobe State? The answer can be gleaned from the Yoruba legend of Ajantala, the Demon Child. The Ibibios have a similar folklore called Akpan Eka Amanta; a Buni-like being that persistely torments. This harrowing experience is what APC has foisted on its members with Buni in the saddle. His self-destruct inclination is noth-

ing but the illicit disposition of the average Nigerian politician to corner everything to himself. The people of Yobe State have been made to pay dearly for their choice of a Governor who assumed the position half-hearted. Driven by the lust of office which compels the typical Nigerian office seeker, Buni apparently has nothing to offer his people than the bogus Agbada and the salutary appendage of ‘His Excellency’. They call him ‘Abuja Governor ’ because he is hardly at his duty post, to mind the business of Yobe State, for which he was voted. But Buni is not alone in his love for allure of Abuja. Many governors of Northern Nigerian states are in his league, perhaps, except Governor Babagana Zulum of Borno State; northern governors, mostly live and work out of Abuja because of the dark cloud of insecurity that has enveloped their states. In all his days as Governor of Yobe, Buni cannot point to five projects solely conceptualised and executed by his administration without help from the Federal Government, its agencies or international donors. Though the National Bureau of Statistics rates Yobe State as one of the fastest growing Internally Generated Revenue (IGR)

The answer can be gleaned from the Yoruba legend of Ajantala, the Demon Child. The Ibibios have a similar folklore called Akpan Eka Amanta; a Buni-like being that persistely torments. This harrowing experience is what APC has foisted on its members with Buni in the saddle. His self-destruct inclination is nothing but the illicit disposition of the average Nigerian politician to corner everything to himself

state in Nigeria , Buni does not live and work in its capital, Damaturu to understand what he needs to do to lift his people out of poverty. Yobe State generated N8.44 billion in 2019 as against the N4.38 billion generated in 2018. However, Yobe is one of the poorest states in Nigeria, with a poverty rate of 72.3 per cent - being the seventh highest in the country according to the National Bureau of Statistics. The Buni malaise is not of a peculiar kind. Its generic strain can be felt all over the country, as a majority of Nigerians groan under the maladministration of the APC government. Buni can be safely said to be a parody of Buhari; aloofness, unsympathetic and headstrong. These are beside the point, the most damaging thing that the Buni phenomenon has done to Nigeria is the capability to destroy or impair our democracy. Because of Buni, we may have a situation where state governors now assume the duties of chairman of the ruling political parties in their respective states. After all, if Buni can do it at the national level, it opens the door to a free for all, that will definitely destroy the structure of political party administration in Nigeria. And because of the propensity to emulate evil, perhaps, the PDP may copy this bad example. Then, democracy as it is known elsewhere will take a flight from Nigeria; just because Buni and those who control the levers of power in the APC must have their way. The only saving grace may be in a judiciary that finds its voice and insists on the rule of law. So, APC can revel in wantonly breaking its own laws and the law of the country; until they meet their nemesis in courageous judges. Imagine, a situation where the APC wins the presidency and its opponent goes to court to challenge the role of Buni; and like it happened in Zamfara, the court decides in favour of the opposition. That will be a new day in Nigerian democracy. Buni and the APC may just hasten this reality. Like Ajantala and Akpan Eka Amanata, Buni will wreck the house he built.

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

PERSPECTIVE

Tackling Acrimony in Nasarawa APC Igbawase Ukumba writes that Governor Abdullahi Sule’s quest for a peaceful conduct of APC congresses in Nasarawa State has started paying oﬀ

rior to the commencement of the nationwide congresses of the All Progressives Congress (APC), the National Secretary of the party’s Caretaker/Extraordinary Convention Planning Committee, Senator John James Akpanudoedehe, said the party was recommending a consensus option for the election of party officials at all levels to reduce acrimony. Acccording to him, “for us, we have to take into consideration the need to accommodate everyone because the APC is a party for all Nigerians. “We are encouraging states to adopt the consensus arrangement because it saves costs and reduces acrimony. That is why when you look at Article 20 of our constitution which talks about elections, the first thing there is for members to try reaching a consensus. When that fails, then you go to cast ballots. “We are making sure we do not leave any room for the opposition, especially the Peoples Democractic Party (PDP) to sponsor people to cause confusion in our midst.” Perhaps, it was in compliance to the APC’s Caretaker/Extraordinary Convention Planning Committee’s recommendation that the Nasarawa State chapter of the APC opted for a consensus option to elect officials of the party at all levels during the congresses of the party in the state. The adoption of the consensus option to elect officials of the party was taken at a major stakeholders’s meeting of the party held in the Government House, Lafia through a voice vote presided by Governor Abdullahi Sule. Accordingly, Governor Sule noted that the state chapter of the party had severally set the pace in terms of peaceful conduct of the party’s affairs in the country, as such he said the forthcoming congresses must be peaceful and successful. He therefore pleged his commitment to ensure smooth congresses of the party in the state, hence he directed all his political appointees to go to their electoral wards and ensure a hitch free congresses. Nevertheless, to be rest assured that there was a hitch free congres in the state, Governor Sule detailed Senator Abdullahi Adamu to take charge of Nasarawa West Senatorial District, Senator Umaru Tanko AlMakura for Nasarawa South, while himself (Sule) and Senator Godiya Akwashiki were to take charge of Nasarawa North Senatorial District. Earlier in a welcome address at the major stakeholders’s meeting, the Nasarawa State APC caretaker committee chairman, Dr John Mamman, said the purpose of the meeting was to brainstorm on the forthcoming congresses of the party in the state. Hell-bent on ensuring a peaceful conduct of the APC’s congresses in Nasarawa State, hitherto as part of preparations leading to the ward congresses taking place across the state, the governor, on the eve of the ward congresses, met with stakeholders of the APC from across the state, at the Government House, Lafia where he sued for a peaceful conduct of the exercise. Sule equally used the occasion and preached unity and inclusiveness during the ward congresses. The governor appealed to both elected and appointed government officials not to take advantage of their offices to deny other members of the party the right to participate

in the exercise. .Perhaps, this was attested by the Chairman of the State Ward Congress Committee, Abdullahi Garba Abbas, when supervising the affirmation of the Gudi electoral ward new executives, during the ward congress in the state. Hence Abbas commended the unity among members and supporters of the ruling APC, for adopting the consensus mode for the ward congress, stressing that, Nasarawa State is setting the trend for other states across the country. Abbas particularly appreciated the stakeholders in Gudi ward,

the country home of Governor Sule, for ensuring a smooth take off of the exercise. He added that nothing short of this was expected, especially with a leader like Engineer Abdullahi Sule, known for being fair, just and for carrying everybody along. For Governor Sule, the peaceful consensus congress of his Gudi electoral ward was a credit to the party’s stakeholders in the area, particularly the APC leaders, youths and women wings for ensuring that the ward executives emerged through peaceful consensus. This was even as Sule expressed apprecia-

The Nasarawa State chapter of the APC opted for a consensus option to elect officials of the party at all levels during the congresses of the party in the state. The adoption of the consensus option to elect officials of the party was taken at a major stakeholders’s meeting of the party held in the Government House, Lafia through a voice vote presided by Governor Abdullahi Sule

tion that the entire state has adopted the consensus mode for the ward congress. The governor however said it was the first time he was meeting with the newly elected Gudi ward party officials, noting that he refused to interfere in the emergence of the officials leaving the stakeholders, youths and women from the ward to elect their representatives. He told the Nasarawa State Ward Congress Committee Chairman, Abdullahi Garba Abbas: “The beauty of this exercise, Mr. Chairman, is that I am just meeting this exco for the first time as you are meeting them. I decided to allow the people of Gudi to make their choice and they have made their choices. I laud the decision of the people of Gudi electoral ward, with four polling units, to rotate the positions within the four units.” According to the governor, “the consensus arrangement in Gudi took into cognizance not only the number of polling units in the ward, but also the diverse ethnic groups in the area.” In the same vein, the Senator representing Nasarawa South Senatorial District in the National Assembly, Umaru Tanko Al-Makura, has commended the party’s stakeholders for initiating the consensus method that brought about peaceful congress in the state. Al-Makura also commended stakeholders of the APC for their strict adherence to guidelines of the party to ensure peaceful conduct of ward congress. Senator Al-Makura, gave the commendation in a statement by his press secretary, Danjuma Joseph, after he participated in the ward congress exercise at his Gayam Electoral Ward in Lafia, the state capital. According to Al-Makura, “APC has some lessons to learn for future congresses and elections, especially the adoption of consensus leaders through mutual agreement devoid of rancour and hard feelings among supporters of the party. I want to commend Governor Sule and the caretaker committees at both the state and the national levels for adopting the consensus method, which in my opinion will save the party a lot of time and energy.” Al-Makura however called on APC members and supporters to remain focused and behave maturely during and after the congresses to give the party a good name. Nevertheless, Speaker of the Nasarawa State House of Assembly, Ibrahim Balarabe Abdullahi, expressed satisfaction with the peaceful conduct of the APC congress in Toto Local Goverment Area of the state as all the new officials of the party emerged through concensus. THISDAY gathered that the ward congress exercise ended across all the electoral wards of Toto Local Government Area peacefully as party stalwarts met and adopted consensus option of affirmation to elect the ward executives. The Speaker of the state assembly, who is the party leader for the congress in Toto council area, said the success achieved in the exercise was a clear demonstration of unity and understanding among members, hence he called for its sustenance. While expressing his happiness over the entire process and how all interests across polling units were adequately represented, Balarabe Abdullahi said the exercise has further demonstrated the unity and strength of the APC.

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

PERSPECTIVE

EPISTLES

of ANTHONY KILA

Shell Oil Spills, $110 Million The Prism Called Twitter Payment and Nigeria in Nigeria Chido Nwangwu, Publisher, USAfricaonline. Anthony Kila is disappointed at the reaction of the com reﬂects on the dire consequences of oil Nigerian elite to Federal Government’s ban on Twitter production on many many communities in the ear Readers, This week makes it roughly 10 Niger Delta states weeks since the Nigerian govern-

n terms of the impact of oil exploration on the ecology of life in Nigeria’s oil producing areas, the destroyed rivers and creeks and dead fish and fauna, the burnt beings and the charred bodies of several of the citizens of the oil-rich country remain terrible and poignant reminders to the misuse and abuse of the oil and energy resources of the country of nearly 270 million people. Hence, the increasing domestic and international interest in the report three days ago about the Royal Dutch Shell Plc’s Nigerian unit agreement to pay the the Ejama-Ebubu community N45.7 billion ($110.9 million). It is in compensation to put an end to a legal case that began in 1991, championed by the community’s lawyer, the relentless Lucius Nwosu According to William Clowes of Bloomberg who broke the news, that payment seeks to resolve a long-running dispute over an oil spill that occurred more than 50 years ago — “is for full and final satisfaction” of a court judgment issued against the company 11 years ago. For all it’s worth, I consider this Royal Dutch Shell Plc’s Nigerian unit court case a commendable step forward on what I still consider to be the underpaid/under-compensated costs of the consequences of oil spills and environmental destruction and hazards faced by millions of Nigerians. Nigeria is the the largest oil producer in Africa and in the dynamic top-10 of the world’s largest oil producers. The consequence is partly reflected in the underlying reason(s) for the wreckage and mangled landscape and tortured lives and serrated psyches in most of the oil-and-gas-producing communities across the Rivers, Akwa Ibom, Delta, Bayelsa, Imo and Anambra States of Nigeria. Crude oil which was first explored in commercial quantity in 1958 by Shell BP, in the tropical, serene environment of Owaza, the Igbo-speaking area of the riverine part of south eastern Nigeria, left gulleys of degradation, dangerously exposed pipelines, abandoned farmlands, worse, it accelerated the corrosion of the collective values and interests Nigerians. I toured Owaza on a news documentary assignment in the early 1980s as a staff of the Nigerian Televi-

sion Authority (NTA). The Ogoni and other riverine communities have fared almost worse. All those, and more, have combined with wonderful announcements of billion dollar contracts and deals with the multinational corporations and their Nigerian collectors and agents to raise and dash, every passing year, the tortured hopes of the same poor, dispirited folks on whose lands the oil and gas sit. Is there any wonder why they, like me sometime wonder whether oil is Nigeria’s liquid gold or just a petro-dollar curse? Its petroleum industry lays the golden eggs and has brought some development to many areas. Yet, it sticks out like a sore thumb, the fertile ground for mega-corruption and abuse of Nigeria’s resources by a few. The battle over who controls the oil money is the key to understanding Nigeria’s business, politics and future. Hence, I must state the nepotism, favoritism appointments and ethnic jostlings primarily seek the primitive seizure and control of State power (at the NNPC, the country’s national oil powerhouse). It is about control of the NNPC rather than a focus for responsibility and performance. Also, I recall the events at Jesse, the village of Apawor and other adjoining communities which occurred on Saturday October 17, 1998 and he inferno which raged Sunday October 18, 1998. remains a sad metaphor and reminder of the sad state of affairs in Nigeria’s oil and gas business and the lot of Nigeria’s poor. The fire left decimated farmland, burnt livestock made bonfire of human beings, men, women and children, in the most macabre mix of crude oil and fire. It is necessary, against the background of these difficult events and deaths, to look a little deeper, beyond the staggering, running numbers of the dead and the dying. First, crude oil which was first explored in commercial quantity in 1958 by Shell BP, in the tropical, serene environment of Owaza, the Igbo-speaking area of the riverine part of south eastern Nigeria, has left gulleys of degradation, dangerously exposed pipelines, abandoned farmlands, worse, it accelerated the corrosion of the collective values and interests Nigerians. I toured Owaza on a news documentary assignment in the early 1980s as a young staff of the Nigerian Television Authority, NTA. The Ogoni and other riverine communities have fared almost worse. Oil accentuated and, in fact, set the theme for ethnic competition, economic and religious warfare between the more powerful segments of the country (with less economic resources) and the relatively less powerful or at best more docile sections of the country (location for the vast oil resources and minerals). Hence, this avoidable problem of crippling scarcity of fuel and even basic kerosene/gasoline led many to pursue other means to reach some of the product, unfortunately, illegally, must be be put in its past, present and future policy context. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

ment made the radical move of placing an indefinite suspension on Twitter and by so doing, restricting arguably one of the top three most popular microblogging site in the world from operating in Nigeria and banning Nigerians from using it. Since that ban, Nigerian media houses too have been restricted from using the social media handle to interact with readers, viewers and listeners and from referring to twitter as a source of news. To many observers, the chronicles of events that led to the great ban is quite clear and simple. Act 1: Two days to the official banning of Twitter, Nigerian President Muhammadu Buhari via his verified Twitter handle posts a comment via Twitter warning those “misbehaving” in the South-east of the country. In his own words: “Many of those misbehaving today are too young to be aware of the destruction and loss of lives that occurred during the Nigerian civil war. Those of us in the fields for 30 months, who went through the war will treat them in the language they understand.” His words were read as a threat and unnerving message by many and comments condemning his Tweet abounded in Twitterland. Act 2: Nigerian government through the Information Minister, Lai Mohammed announces the ban on Twitter. Mobile phone networks and other internet services providers were then ordered to block access to Twitter and they duly complied. To support and strengthen the position of the Information Minister, the Attorney General of the Federation and Minister for Justice also joined the act to announce immediate prosecution of offenders of the Federal Government ban on Twitter operations in Nigeria, telling the public prosecutors to swing into action against anyone, individual or corporate entity that dares to err. On every occasion, the Nigeria Government insists: the ban on Twitter is more about commercial and fiscal compliance and less about daring to delete the President’s post. Twitter makes money in Nigeria but does not pay tax plus it is a platform for fake news the government explains. To many observers however the matter is really simple: “the witch wailed yesterday and the baby dies today, who does not know that the wailing of yesterday is cause of today’s death,” they conclude. A lot has been said about the ban of Twitter in Nigeria, here are few more reflections that come to view when one looks at Nigeria through the prism of the use and ban of Twitter. The images that come out of that prism say a lot about us as a people and a country. Ultimately, beyond and above the reasons that lead to the banning, history will record that with the ban on Twitter, Nigeria joins an exclusive club of just eight countries in the world that have banned social media networks, if that number impresses you then do find out and have a look at the countries with whom Nigeria now share listings. Let us name just two here to give you a taste: Iran and North Korea. Let us assume and believe the government’s words that the Twitter ban was neither a petty act of vengeance nor an attempt to gag an increasingly disenchanted and exasperated public, but an act to regularise and earn revenue from a profit-making organization. Seen through the prism of the Twitter ban, it will appear

Nigeria of today is a country wherein government in a decree like style of the bad old military days bans and then explains why later. It disrupts and then asks for order. Those time tested basic democratic and libertarian concepts and processes of dialogue, warning, negotiations, court orders, and general care that government accord private entities as a symbol of respect for liberty and innovation in progressive and prosperous societies seem not to matter here. Twitter is just one organization, but its users are more. We shall dwell on the quantitative dimension of the users of Twitter later, for now let us look at the qualitative side of things. Due to its format and some other factors, analyst agree that Twitter is arguably one of the most sophisticated social media handles out there. Though easily open to all and thus used by all sorts of characters, Twitter users are generally more educated and more informed than the average population. They use the platform to seek information and validation, interact with similar and higher minds, sell and buy, love, learn and laugh. With a click of button, thousands sometimes millions are reached and engaged on issues that range from the absurd to the intense, on Twitter lives have been saved, career made and institutions corrected. We might just remember here that most public offices and public office holders also engage regularly on Twitter. Yet with so much going on that platform and to so many important sectors of this society, a few individuals by virtue of the power invested in them decided in a short space of time to freeze and stop all. How could they and in whose name? History will ask tomorrow and some of us as asking today. Elementary Watson: Because they can. It seems clear to those in power that anything goes and nothing will happen to them. No office to hold them to account and no one to fear. There are some debates going on about the actual number of Twitter users in Nigeria; some say over 39 million others say a lot less. Even if they were just 1 million, logic will make one think that if you curtail the freedom of expression of 1 million people, elites that can fight back and mobilise others, there would most likely be a heavy civic backlash. Amazingly not in this story. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

OBB OVERNIGHT

8.50% 9.00%

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

A U G U S T

S & P INDEX

1 2 , 2 0 2 1

S & P INDEX

CALL 1-MONTH

4% 6%

INDEX LEVEL 1-DAY

538.76% 0.17%

3-MONTH

10%

MONTH-TO-DATE

0.28%

EXCHANGE RATE

1/4 TO DATE YEAR TO DATE

1.08% –19.62%

N411.34 / 1 US DOLLAR* *AS AT LAST FRIDAY

Nigerian Pension Assets Predicted to Hit N20trillion by 2023, Recording an Average Growth Rate of 18%

Eromosele Abiodun Following a significant growth in the number of enrolees and the size of managed assets, Nigeria’s pension assets is expected to hit the N20 trillion mark by 2023, recording an average growth rate of 18 per cent in the next three years, a report by Agusto & Co. has revealed. According to the Agusto & Co. 2021 Pension Industry report and survey, the growth in the industry’s managed assets has been largely driven by investment returns and

additional contributions, to a lesser extent. “In particular, over the last five years, the Industry’s annual contributions have averaged N699 billion while withdrawals have averaged about N341 billion, translating to a net annual contribution of N347 billion and accounting for 26.6 per cent of the Industry’s Assets Under Management (AuM) growth over the period. The remaining 73.4 per cent of average growth was attributable to investment returns earned on the portfolios, “the report stated. Agusto & Co. said it

envisages continuous growth in pension assets supported by increased participation on the back of the country’s favourable demography of young adults and rising yields in money market instruments. “In addition, we expect an improvement in the performance of the Industry as operators compete for higher return on investments, improved customer service and use of technology for operational efficiency. Therefore, Agusto & Co. projects that the Industry’s net assets will hit the N20 trillion mark by 2023, recording an average growth rate

of 18 per cent (in line with the five year average growth rate of 18%) in the next three years leading to 2023, “it stated. Analysis of the report revealed that the Nigerian Pension Industry’s assets under management stood at N12.3 trillion (or $32.3 billion) as at 31 December 2020. This represented a 20.6 per cent growth over the N10.2 trillion reported at the end of 2019 and a 18.3 per cent compound annual growth rate over the past five years. On the pension transfer window, it stated, “The pension transfer window opened on 16

November 2020 to allow pension retirement saving account (RSA) holders switch Pension Fund Administrators (PFAs) once a year at most and at no cost. As at the end of the second quarter of 2021 (less than nine months after the transfer window was opened), over 25,600 RSA holders with pension assets over N102.5 billion were reported to have changed PFAs. “Agusto & Co expects that in the subsequent quarters of 2021, the number of transfers will rise further as more enrolees become aware of the transfer process. In addition, we expect

competition to intensify in the pension Industry as PFAs seek to attract new enrollees while retaining existing ones. Nonetheless, Agusto & Co expects the Industry’s structure to remain relatively unchanged in the short-to-medium term with the top five players leading on the back of good market presence and strong brand recognition.” The Nigerian Pension Industry (‘the Industry’) has evolved from one with predominantly public sector Continued on page 22

With Passenger Trafﬁc Projected to Reach 55M, FG Insists on Concession to Develop Needed Airport Infrastructure Chinedu Eze The federal government has insisted that it must concession Nigeria’s major airport terminals to secure investors that would expand the facilities in order to meet increasing passenger traffic, projected to reach 55 million by 2024. This is in line with the projection of the International Air Transport Association (IATA), which stated that air transport growth would increase in the Middle East and Africa in the next 20 years but expressed fear that the regions may not have the needed airport

infrastructure to accommodate the increase. In a presentation to industry stakeholders, the Minister of Aviation, Senator Hadi Sirika argued that government would not have the huge resources needed to modernise and expand the airport facilities; therefore, private investment funds are needed, hence the concession. The Minister stated that the airports in Nigeria are currently operating in a suboptimal environment, most notably due to the following factors that would have to be improved as part of the PPP programme.

“These include urgent need of infrastructure investments and modernisation. All Airports require investments in runway maintenance, navigation aids as well as terminal facilities; relatively low asset utilisation due to the limited opening hours of other smaller Nigerian airports; lack of terminal capacity, as the airports fall short of gates, stands and check-in desks and that the airports have not been designed as international hubs but operate separate international and domestic terminals, “he said. Sirika also explained that in response to the population growth

and its increasing affluence, a private operator of the four main airports in the country would be able to operate the airports under a globally accepted standards and expand the facilities in accordance with traffic demand at each airport. “Typically, on airport PPP projects, the authority sets minimum service levels for the concessionaire to comply with. This will provide the authority with a tool to set service standards for the operation of the terminals and secure a reliable high-level product. “A strong aviation industry provides the country with a

high connectivity, both on a domestic and international scale. This has several economic and social benefits for the country as identified in this Outline Business Case (OBC). These include time and cost savings for companies, efficiency gains for the economy, increased connectivity for remote regions, and improved access to health care,” the Minister said. Appraising the economic implication of the planned concession, the Ministry of Aviation in an earlier report disclosed that the forecast of total traffic for the four airports in Nigeria is expected to grow

on average at 5.3 per cent over the next 30 years, from 11 million passengers in 2017 to 55 million by 2048. This, he said, would be largely driven by the strong population growth and affluence of the population, adding that the concessionaire is required to provide sufficient capacity to handle this amount of forecast traffic. The Ministry added that in addition to the terminals that are currently under construction, the concessionaire is required to refurbish the existing facilities in Continued on page 22

M A R K E T D ATA A S AT T H U R S D AY, A U G U S T 1 2 , 2 0 2 1 FGN BONDS DESCRIPTION 11.668 FGNSB 15-AUG-2021 10.301 FGNSB 16-AUG-2021 11.150 FGNSB 11-SEP-2021 12.364 FGNSB 12-SEP-2021 12.175 FGNSB 10-OCT-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield

Change (%)

100.07

2.73

-0.44

NTB 26-Aug-21

2.76

-0.25

100.08

2.73

-0.43

NTB 9-Sep-21

2.80

2.81

-0.30

100.67

2.83

-0.30

NTB 16-Sep-21

2.82

2.83

-0.33

100.80

2.83

-0.29

NTB 30-Sep-21

2.87

2.88

-0.14

NTB 14-Oct-21

2.91

2.93

101.47

2.94

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS AUG 25 2021 420.93

NGUS SEP 29 2021 422.38

NGUS OCT 27 2021 423.83

-0.39

NGUS NOV 24 2021 425.28

-0.44

NGUS DEC 29 2021 426.73

C Ps MATURITY

Discount Yield

Change (%)

MREP CP XXXI 13-AUG-21 UNCP CP III 27AUG-21 VAAG CP I 27AUG-21 TTNG CP II 31AUG-21 SIBP CP I 2-SEP21

8.58

-0.45

3.89

-0.37

9.83

9.87

-0.37

4.24

4.25

-0.35

3.79

-0.34

FRIDAY AUGUST 13, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

NEWS

COLLABORATION FOR CSR…

L-R: Budgeting/ Reporting and Treasury Manager, Inlaks, Stephen Akintola; Museum Manager, Yemisi Shyllon Museum of Art, Pan-Atlantic University, Michael Oseghale; Group Head, Human Resource and Administration, Inlaks, Adetokunbo Ayo-Ogunsanya; Director, Yemisi Shyllon Museum of Art, Pan-Atlantic University, Jess Castellote and Acting. Head, Business Operations, Inlaks Suraj Wahab, during a visit to the Inlaks co-sponsored CSR initiative by the Precolonial Societies of Nigeria in collaboration with the Yemisi Shyllon Museum of Arts, Pan-Atlantic University, Ibeju-Lekki, Lagos…recently

Our Charges Not Arbitrary, APMDC Replies Shippers’ Council Eromosele Abiodun The management of the Associated Port Marine Development Company (APMDC), has denied allegations of arbitrary charges and charging in foreign currency levelled against it by the Nigerian Shippers’ Council (NSC). Recall that the council had shutdown the company’s terminal over allegations of non-compliance with regulatory directives and other arbitrary charges. The council further alleged that APMDC had been issued several notices to address infractions ranging from charging in foreign exchange to non-compliance with approved

nomenclature of charges such as transport adjustment charges, non-vessel-operating carriers, outright disregard of terms of mediation reached at NSC and unresolved complaints of over one and half years, among others. However, in a press statement made available to journalists, APMDC Group Head, Human Resources and Public Affairs, Mr Olise-Emeka Nwachukwu said its charges are not arbitrary but operate one of the most competitive tariffs in the market. According to the statement sign by Nwachukwu, the company said its charges structure is determined by high cost of delivering groupage containers from discharge ports or off docks to its bonded terminal/

warehouse. He further explained that Transport Adjustment Factor-TAF being a bill back costs, is one example of excessive costs of delivering groupage containers to her bonded warehouse/terminal. According to APMDC, “APMDC charges structure is determined by high cost of delivering groupage containers from discharge ports or off docks to its Bonded Terminal/ Warehouse. Transport Adjustment Factor-TAF being a bill back costs, is one example of excessive costs of delivering our groupage containers to our bonded warehouse/terminal. APMDC is an experienced Nigerian-Global Shipping/Logistics player with over 16years of extensive trading knowledge in the Nigerian

Maritime.” He said the company’s record of integrity is impeccable adding that it has contributed a lot to the Nigerian economy. “Apart from providing employment to Nigerians, the taxes our industry players pay to both Local, State and Federal Governments, our businesses units are also revenue channels for the Nigerian Economic through Billions to Trillions of Naira that are generated yearly via Customs import duties/taxes and levies hence we are major economic contributors, therefore, we should be applauded instead of being maligned. APMDC makes bold to say that, we are contributors to the over One Trillion-naira revenue generated declared recently by Customs

for the first half of the year and cannot be tagged as economic saboteurs, “he said. He the NSC’s action is subjudise and the matter is currently pending at an appellate court. “It is important to note that NSC shutting down the activities of APMDC, acted in flagrant disregard of the pending case at the Court of Appeal where these contending issues are before the honourable court, “he said. Speaking on the company’s charging in foreign currency, APMDC boss said the Central Bank of Nigeria (CBN), in 2015 grouped their operation among one of the services that can charge in foreign currency. He further stated that the

charges collected in foreign currency were not for local services “Regarding ‘Transhipment Port Dues’, other charges collection in FOREX, and NSC’s allegations of APMDC committing financial infractions, there has never been any infraction, as the said charges collected were not for local services rendered. Transhipment operations and its associated costs do not occur at a “Destination Port of Lagos but at a “Mid Transit Port” in the course of the container journey between load and discharge ports. “Transhipment port dues as its titled, simply defines and makes clear the nature of transaction for those who understand the international shipping business dynamics.

Digital Offerings: Firm to Support African Startup ISPs with $5million Sunday Ehigiator In a bid to enable more Africans to take advantage of digital offerings in a new world defined by the Covid-19 pandemic, West Africa’s pioneer solar-based internet and voice service provider, Tizeti, has launched NeXTGEN, a novel digital connectivity offerings. The company likewise

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

announced its partnership with a $5 million venture fund focused on African startups, International ISPs (Ship and Port-facility Securitycode) with an aim of expanding internet access across Africa. The company disclosed at the 2021 Tizeti NextGen Annual Conference, themed, “Expanding Access to Unlimited Internet in Africa,”held in Lagos. Speaking at the conference, the company’s Chief Executive Officer, Kendall Ananyi said the new products encompass the company’s commitment to widening the broadband envelope in Nigeria with more robust internet plans. He said the company was focused on expanding coverage, especially in Nigeria, and

accelerating internet availability across the African continent with a new venture fund. “The products also reiterate the company’s focus on delivering a simpler and more convenient technology offering with a smart customer care operation and integrated Customer Relationship Management systems, ”he said. According to him, the global pandemic expedited the need for technology to be more agile, faster, more intuitive, and easier to understand, irrespective of the peculiarities of its users. He added, “Many people were unable to quickly adapt to the new normal of working, connecting to family and colleagues remotely, and accessing various educational, occupational, entertainment, and

other services virtually. “Many firms took an unnecessarily long time to adjust to the constraints the pandemic brought, and this resulted in declined productivity, ineffective transformation, and lost revenue. This is why we have launched new voice and data service for residential, small, medium, and enterprise organizations within Nigeria. “Our brand-new Turbo 100MBps Unlimited Internet Plans in Lagos will guarantee 100Mbps unlimited plans, which is 50 times faster than the existing plans in the market), with a free three months pilot to the first 100 signups in the Lekki area.” Speaking on the company’s desire to empower more Nigerians,

stimulate economic activities and provide unlimited access to affordable and reliable broadband services, Ananyi disclosed that the company would be widening the broadband envelope to 10 new cities in Nigeria. “We are expanding our unlimited internet plans, currently available in cities in Lagos, Ogun, Rivers and Edo States, to Abuja, Ibadan, Kaduna, Kano, Warri/ Asaba, Eket/Uyo, Onitsha, Aba, Enugu, and Calabar. “We are building brand-new, solar-powered, 4G-capable towers in these cities and leveraging expansive fiber-networks built by some of our partners, to enable us to roll out our low-cost broadband service, and bring millions of people online, who

can now take advantage of the life-changing socio-economic opportunities that access to the Internet provides,” he said Announcing the company’s partnership with a $5 million venture fund focused on startup ISPs that are expanding internet access across Africa, the company’s Chief Operating Officer, Ifeanyi Okonkwo, said the company will leverage its proprietary OS technology among others. “We would also leverage on global partnerships with equipment vendors, submarine cable companies, payment providers, and Venture firms to provide the resources for these startup ISPs to accelerate the availability of unlimited internet across the continent, ”he said.

NIGERIAN PENSION ASSETS PREDICTED TO HIT N20TRILLION BY 2023, RECORDING AN AVERAGE GROWTH RATE OF 18% participants running a defined benefit scheme to a mandatory defined contribution system for

all government and private sector employees. The 2004 pension reform redefined

retirement planning in Nigeria and drove a significant growth in the number of enrolees and

the size of managed assets in the Industry. Agusto & Co. is the foremost

Pan African Credit Rating Agency and a leading provider of industry research.

WITH PASSENGER TRAFFIC PROJECTED TO REACH 55M, FG INSISTS ON CONCESSION TO DEVELOP NEEDED AIRPORT INFRASTRUCTURE Abuja and Port Harcourt. “In Lagos a new terminal needs to be constructed and the existing international terminal decommissioned, “hesaid. But criticisms have trailed the concession plan of the federal government. Aviation analyst and Principal Managing Partner, Avaero Capital, Sindy Forster said the concession plan “certainly does not sound like it requires

a 30-year concession,” as implied in the presentation. “What investment they (the concessionaires) will be bringing isn’t even clear. But beyond that the impact on the rest of the sector seems to be missing. Not enough analysis appears to have been done. What I find here is that people do what people in authority want without questioning or

adding value. That does a disservice to everyone involved. Professionals need to speak up and be consultants when they see things, which don’t add up. Life is not about agreeing with everything for money. Even with best intentions mistakes can happen. The industrial history of Nigeria is a litany of mistake after mistake. Let this not be another one,” she said.

Also, a former Minister of Aviation, Osita Chidoka has expressed disagreement with the concession approach taken by both the Infrastructure Concession Regulatory Commission (ICRC) and Bureau of Public Enterprise (BPE), saying that they want to take the best part of the Federal Airports Authority of Nigeria (FAAN) and give it to private investors who may not have the

wherewithal to effectively manage the facilities. Speaking during a virtual stakeholder’s meeting to update on the concession of the four international airports, Chidoka likened the process to what transpired in the power sector where the discos after concession did not have the funding to even meter the customers and is constantly blaming government.

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

BUSINESSWORLD

AIR WATCH

Air Peace to Commence Douala, Ibadan Ops Chinedu Eze Air Peace has announced the commencement of scheduled commercial flights from Lagos and Port Harcourt to Douala, the capital of Cameroon, on August 19, 2021. The airline in statement said it is also set to launch Abuja-Ibadan route on August 17. The airline’s Spokesperson, Stanley Olisa, in the statement said that the Douala route would operate three days weekly while Ibadan service would be operated daily.

“These new routes will be operated with our ultramodern Embraer 195-E2 aircraft, and as we take delivery of more brand new E195-E2s as well as other aircraft undergoing maintenance abroad, we shall reinstate more routes and open up more connections”. Olisa said customers could now book for the new routes on the airline’s website- flyairpeace.com or its mobile app. He reiterated Air Peace’s resolve to continue providing peaceful and strategic connectivity, in

line with its no-city-leftbehind drive. Air Peace recently resumed most of its regional routes which were suspended following the outbreak of COVID-19 and the lockdown that ensued last year. The airline has restored its Freetown, Banjul, Dakar, and Accra services. Air Peace currently services 17 domestic routes, five regional routes and 2two international destinations, including Johannesburg, while it boasts of a mixed fleet of 28 aircraft, the latest being three brand new 124seat capacity E195-E2 jets.

Reflecting Cost of Aviation Fuel on Airfares

SAHCO Acquires Ground Support Equipment Skyway Aviation Handling Company PLC (SAHCO) has announced that it has expanded its Aviation Ground Support Equipment (GSE) with new ultra-modern machines so as to adjust to its expanding business activities. The company in a statement said the equipment includes; Air Conditioning Units (ACU), Ground Power Units (GPU), Toilet Bowsers, Water Bowsers and Baggage Carts. “SAHCO procured three Air Conditioning Units to provide Airlines with air conditioning to the aircraft cabin while the aircraft is on ground. Two of the ACUs are manufactured to produce 50 pounds of preconditioned air per second for wide body aircrafts and

the other is to produce 15 pounds of preconditioned air per second for narrow body aircraft. “Both ACUs were manufactured by Guinault, a reputable GSE manufacturer in France. The ACUs are built to be environmentally friendly producing less or no carbon monoxide to the atmosphere because they are fitted with tier 4 engines, which is the latest technology in compliance with the strictest Emission of Particulate Matter (EPA) emission requirement for off-highway diesel engines, “it stated. “Similarly, the ACUs systems are fitted with a sim card that is used to monitor the activity of the equipment by both the manufacturer and the End User to curb

misuse, abuse and diagnose malfunction. “In addition, the ACUs, three Ground Power Units (GPU) were procured to deliver alternative voltage supply for aircrafts while on ground. The equipment, which was also manufactured by Guinault are two units of GPU equipped to produce 140 KVA of energy for wide body aircraft and one unit of GPU with the capacity of producing 90 KVA of energy for narrow body aircrafts. “These GPUs are also fitted with the Tier 4 Engine to check Carbon Monoxide emission and sim cards for proper monitoring and capacity by both the manufacturer and End User, “it added.

SYNLAB, IATA Partner to Facilitate Safe Travelling SYNLAB, Europe’s leading medical diagnostic services provider, and the International Air Transport Association (IATA) announced a partnership to facilitate safe and easy travel. The two partners signed an agreement to incorporate SYNLAB’s extensive lab network into IATA Travel Pass. The international body said this would enable airline passengers to access SYNLAB’s broad and secure COVID-19 testing services, benefiting from its international capabilities. SYNLAB and IATA build upon valuable experience gained during a successful pilot project for passenger testing in Columbia over the course of the past months. IATA Travel Pass allows passengers to locate authorised laboratories at departure locations to get tested for SARS-CoV-2 as required by border and health authorities. After testing, SYNLAB will provide passengers with their certified test results directly through the IATA Travel Pass. The app checks the result against the IATA Travel Pass registry of national entry

requirements to produce an “OK to Travel” status. Through the app passengers can share their status and the digital test certificates with authorities and airlines to facilitate travel. IATA Travel Pass applies the highest data security standards. Authorised laboratories directly send COVID-19 test results to the passenger’s phone as a verifiable credential. This way, the IATA Travel Pass is a digital solution that also prevents potential forgery of test results. CEO of SYNLAB, Mathieu Floreani said: “We are pleased to partner with IATA to make travelling as safe as possible. At a time when people around the world are resuming air travel and different variants of the SARS-CoV-2 virus are spreading, testing remains crucial. Testing is a central pillar in monitoring and controlling the pandemic to prevent the spread of the virus. As the market leader in Europe for PCR testing, we have conducted 18 million PCR tests since the outbreak of the pandemic, underlining our strong expertise in this

incredibly relevant field.” IATA’s Director General, Willie Walsh said: “Verified COVID-19 testing is critical to restore the freedom to travel for people who are not vaccinated. IATA Travel Pass aims to make it as simple as possible for travellers to locate certified labs and securely receive the test results that governments require for entry. Adding SYNLAB’s extensive lab network will help travellers more easily ensure that they meet their COVID-19 travel requirements.” IATA said SYNLAB has a proven track record of implementing largescale SARS-CoV-2 testing concepts: as trusted and long-standing medical partner and advisor to national healthcare systems, governmental entities, international companies, and associations. With its network of more than 450 medical laboratories and over 1,600 sample collection points across 36 countries, SYNLAB is dedicated to offer medical excellence with reliable testing services and shortest possible turnaround times.

Chinedu Eze

She added that it is really very difficult for airlines to remain afloat under these irlines are complaining about the circumstances and called on the federal spiraling increase of aviation fuel government to urgently intervene in order price, which has recently risen to to save the airlines and ensure that the N305.00 per litre. The airlines are country has robust air transport system. The Managing Director of Aero Contractors, facing a dilemma. If they reflect the new price on airfares, the fares would Captain Abdullahi Mahmood, told THISDAY become outrageously high that many who that with the increase in aviation fuel prices, airlines are finding it difficult to maintain travel by air may not be able to afford it. But if they continue to incur the losses, their current airfare regime and time would their operations will not be sustainable in the come when the fares would have to reflect long run. The inevitable result is that some the cost of aviation fuel; unless the airlines want to go bankrupt. airlines will be forced to go under. He regretted that the increase in airfares to The Chief Operating Officer of Air Peace, Mrs. Toyin Olajide told THISDAY that currently reflect the high cost of aviation fuel would airlines are bearing the loss of the high aviation impact heavily on air travellers. Mahmood, however, said the Minister of fuel prices but noted that it is obviously not Aviation, Senator Hadi Sirika is working sustainable. She explained that airlines are already to see whether the Central Bank of Nigeria operating with slim margin in an economy (CBN) could create special forex window for that is constricting and therefore not friendly airlines; so that they could access foreign and other airlines coming into the market, currency at lower rate than presently obtained seemingly insulated from the hard reality, from the parallel market. “Airlines are finding it difficult to cope are even selling tickets at below N20, 000, which industry expert and former CEO of with the continuous increase in the prices Aero Contractors, Captain Ado Sanusi said of aviation fuel. The prices have gone so high. But there is a limited we can increase was not practicable. “Airlines are bearing the losses incurred airfares. We have to get approval before at selling tickets below the cost of operation any increase. But the impact will be on occasioned by the increase in the cost of aviation the travelling public and soon it will be fuel. The prices are currently about N290 to Christmas holiday when there is high N305 per litre. We are already operating at passenger traffic. “But it will reach a point the airlines very slim margin due to the economy that is not friendly, as many passengers cannot will have no option than to increase fares afford high airfares. But other airlines coming in order to cover the cost of aviation fuel. are even selling tickets at less than N20, 00. The Minister is trying to see how airlines can be given special forex window so that How is it sustainable? “If we are to reflect a bit of the increase of they can access dollars at lower amount the cost of aviation fuel to the fares, the average of Naira than what is currently obtained fair should be about N45, 000 but everybody from the parallel market. This will help the will start complaining. So the increase in the airlines to acquire spares and other services cost of aviation fuel is eating deeply into the from overseas,” he said. The Corporate Communications Manager pockets of the airlines. Currently we are losing money on some routes because as the biggest of Dana Air, Kingsley Ezenwa told THISDAY carrier in Nigeria, we have to provide service that the cost of aviation fuel is very high to these routes. It has become a responsibility but noted that the domestic carrier still for us in order to serve the people,” the Chief maintains competitive airfares because the increase in the cost of the fuel product has Operating Officer of Air Peace said. not reflected on the fares. THISDAY investigations revealed that stiff competition is still holding down the airfares and with new entrants and increasing capacity; competition among airlines would continue to be rife. They added that unless they come together and agree on minimum airfares through the Airline Operators of Nigeria (AON) and backed by the Nigerian Civil Aviation Authority (NCAA), many airlines would go under if they continue to sell tickets at fares below their cost of operation. “You cannot be selling tickets below the cost of operation and expect to last long in the market. Are your operations being subsidized and by who? If you are not enjoying a subsidy and the price of aviation fuel continue to soar, some airlines will either ground their operations or are forced to merge with others,” an insider told THISDAY.

“Airlines are ﬁnding it difﬁcult to cope with the continuous increase in the prices of aviation fuel. The prices have gone so high. But there is a limited we can increase airfares. We have to get approval before any increase.”

FRIDAY AUGUST 13, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Odumboni: Our Resolve on Cleaner Lagos Project Unchangeable The attainment of environmental health remains a cardinal goal of the Governor Babajide Sanwo-Olu administration. An offshoot of this quest is the Cleaner Lagos project being superintended by LAWMA. Managing Director of LAWMA, Ibrahim Adejuwon Odumboni, speaks to Eromosele Abiodun and Segun James on the journey to a megacity You have a huge job to clean up Lagos, which is very tasking because of the attitude of people who are still stuck in the old ways of just dumping refuse indiscreetly. And one of the ways you can check situations like that is to have prosecutorial powers to serve as deterrence. What kind of tool do you have in this regard? e have the EPML law, which was signed into law by the House of Assembly; we operate the 2017 version currently. And this law details what exactly could be done in cases like infractions, improper behaviour or improper waste disposal, neglectful environment and things like that? But most importantly, it is very good for the agency as a regulator and for states to implement the law. So, implementation of the law is what we are moving into now. What we should remember very well is following the previous policy somersault, before 2015, LAWMA was moving with the Waste Management law until Visionscape came. So, when Visionscape came, LAWMA was then rested, but everything went to the side, LAWMA was distorted and a lot of things changed. The whole system collapsed, people were told to bring their waste to the street and not pay because the then administration wanted to introduce a levy to each household that will cover the cost of waste management. And because Visionscape doesn’t have the capacity to go to the inner streets, they didn’t have the required number of trucks and manpower to do it, they asked people to bring their dirt to the street. So, it was easier for them to cart away on the major roads. So, people then became very used to that ideology of bringing the waste to the major road. It is difficult to build, but easy to destroy. So, before you start applying the law to everybody, you need to go back to reorientation, advocacy, providing the tool for LAWMA, which the government has done. The intention is to ensure that the PSP has the required support, which is why we see a growth in the number of trucks the PSPs have. From 624 up to about 850 plus now by virtue of the enabling environment that Governor Babajide Sanwo-Olu has created. Because that was what helped to grow the way we managed waste in Lagos. If we generate 13,000 metric tons of waste per day, so each truck on average capacity 10 tons, that is what they will carry. So mathematically, you need 1,300 trucks to ply Lagos. So, now we are 850 plus PSP, now about 900 confirmed PSP that we regulate. Because we have 475 PSPs and each of them are required to have at least two trucks. If you multiply that by two, it is now 900 plus. Let’s say 900 active PSP trucks as we speak. Then the governor has added 100 to our fleet, which makes it 1, 000. Then we had the previous fleet which was between 40 to 50. Then also, all those double Dino bins that were launched, we already have another 100 previously, so making 200. Those are also like garbage trucks. The only difference between them is that they are static, and they are picked intact, whereas a garbage truck is a moving receptacle. But they have 16 metric tons capacity, and they are bigger. So when you put in them, at the end of the day, when it is full, we have somebody that keeps those bins that will make a call that this one is full. We bring a new one and then take the old one. So if you add that together, that makes 1,300 that are needed for us to manage 1300 metric tons. Now you can imagine before now when we don’t have those bins, when we don’t have those compactors when our PSPs could not afford to get trucks. The state will definitely be dirtier, and people go to the last resort to do anything. An individual cannot keep waste with him, which is not something that you embrace and keep with you; you will want to discard it. And by discarding it, as human beings for survival, you do anything. But now that we have the required operational tools to do the job, our PSPs are in a better position to be able to revamp their fleet as well. And also as promised by the governor on the day of the launch, they will be giving them financial support and making sure that all their needs are catered for. You can then move to the reorientation. We have a very broad designed advocacy program that we are rolling out from next week Monday. We will be going to different LCDAs and local governments to do sensitization. The Chief Judge gave us approval last week for 24 magistrate courts to be able to hear our cases on environmental infractions. Previously there were only two special courts that could do it. So, if I pick you up in Epe, either I take you to Ikeja or drag you all the way to Ikoyi for hearing. Or use a mobile court which has its challenges as well. But what we have now are 24 magistrate courts that will be able to hear cases across Lagos. So, each local government has at least one. That makes it easy because in the law is, it says every house must

Odumboni have a bin. That is why Mr. Governor has approved for LAWMA to procure bins and be able to retail to tenement at affordable prices. So, we have procured the bin now and it will be arriving in the next six to seven weeks and then we will start distributing it to interested households in Lagos. But you need to make sure that you have something done before you start enforcing it. Now that we have announced, the governor has gone back to announce that everybody should pay for their waste, don’t bring waste to the middle of the road. Don’t migrate with waste. So people after Lagos and when they are coming because they know that there are compactors in Lagos, they put their waste in the boot and then they drop it wherever they are working in Lagos. Some people drop it at the bus stop when they are coming back from their work. We are going to work with the Ministry Of Transport, with LAG Bus and co, with Science and Tech, where we will start detecting people that are creating infractions by unruly behaviour. For example, I know across Ikeja there are cameras to monitor cars beating the red light. We have started talking to Science and Tech. So, if the camera catches you and has a clear picture of you dumping waste, or you are migrating waste, the same penalties, the same prosecution will apply to you. We see that a lot, especially the Sango Ota road, Abule Egba and so on.

have gained full employment and if they catch you doing that, you are in trouble. The same thing will apply in Apapa when we recruited the community to police itself. You know in Apapa they have a lot of Hausa communities and of course, they police themselves. We have adopted the same thing in Badore last week because we know that that Badore and Ajah axis are a mixture of tribes. We have Ibo, Yoruba, Hausa and Awori people there. And then we have started seeing a lot of progress because if you use community policing, it is okay. But in the developed community where the youths are already employed to work, everything is clear. It is people that are transiting or visiting that just feel they are the ones worth doing what they need to do. So for us, it is more about the awareness around you. The environment is something that all of us cannot avoid, it is sacrosanct. Three things are common in life, you are going to eat, you will excrete and then because you are eating, you will also sleep. The eating process creates waste, excretion creates waste, and the only one that doesn’t create waste is sleeping. But that is when you will think about how you are going to do the other two the next day. So for us, it is very important that we change the narrative. And for us to change the narrative is not about doing it from the top bottom; it must start from the bottom up.

You are talking about working with tech and cameras; you know Lagos is a very peculiar state. You have a lot of not-too urbanised or developing areas like Ajegunle, Ijora, Mushin, Alimosho, and they are very densely populated areas. Now how do you work with technology and picking offenders, because these are areas where we have most of the dumps? What we do in such areas is quite interesting and then our major challenge now has moved away from those areas to our major roads. Because we employ locals of those areas to manage the area and we call them waste policing. Take for example, Ijora our gate here before you turn in, as you are turning, there is a community that goes all the way down, which is the Otto community. If you were there a year and a half ago, you will ask if this place is a dump yard? Maybe because it is closer to LAWMA. But now if you dare throw a bottle on the floor in that community, you are in serious trouble. Because some of the youths there

The Lagos State Governor launched 102 brown new locally assembled compactor trucks and other units of double Dino bins. Now we understand that these were assembled locally, what does this mean for forex conservation? The good thing is that they are locally assembled, they were locally designed and the only parts you see that were imported were the ones that were not fabricated in Nigeria. But most of the parts were sourced in Nigeria. So we designed them, and we designed them in such a way that we put the needs of LAWMA into it. We looked at our dump sites and factored the challenges into them. Some of the trucks you see are very low, the majority of the trucks that comes to Africa have spent 15 years in Europe before coming. By the time they come, they are low and they cannot compact. Our waste is wet, it is not dry. Because when it rains, if you don’t have a bin, all the waste is wet before LAWMA comes then it starts leaking. So we designed a reservoir there that collects

all the water from the truck. You will never see water leaking from all of these new trucks. If we see anyone leaking water, we take it to where we are treating waste and treat it. We are also putting a lab to research to see what we can do to that water to see if it can be put to use in any other way. One other thing we did with the truck is because we did most of it here because we sourced most of the metals here, it is way cheaper than an average truck. Even at the moment, because of a foreign exchange rate increase, the difference between this truck and a new truck is probably 25%. A used truck now, if you want to buy a used truck now and this truck is 25%. Because our Governor is very great in understanding finance, so these are things that we have done way before this time and also we have planned around it. And in our design we looked at it, you know some times you buy a Benz, you can either buy a C class or buy an exclusive executive Class and you can buy a standard one. And then what you now put in are the basic things that I need as a driver? What are the most important things: my engine must be strong, the compactor ratio must be there, there must be safety for my staff, nobody hanging on the truck, and people need to sit down at the back of the truck. Then also there must be amber light so when I am coming even if it is in the night people should know. Just like the truck I was telling you about that was parked, imagine if it was in the night and there was no light on it, somebody might come and ram into it. So those are the kind of things that we have put in place and it helps us. And people are engaged, they are really happy. Because our engineering team is one of the strongest engineering teams we have in Nigeria. We have the best hydraulic engineer in Africa in that yard. Because I could recall one of the former managing directors said to me that there was a time they had resident big technicians and academics around in LAWMA studying hydraulic. Then they started teaching all the staff when they were 16, 17 and 18 on how to work hydraulics. And now we have them there, no PSP has a compactor that has a hydraulic problem, once it gets into that yard in Iddo, it is coming outdone because they know a lot about hydraulics and hydraulics is compactor. The ability for you to compact is what makes the job easier. Like the bins, we had former General Manager, Engineer Ogunbiyi, now an Oba in Kwara State in a community. We noticed that when you are driving on the road, a lot of our old bins have their doors falling off. People are using nets and they keep dropping off. Because being on this road, you have to use a lot of other people’s knowledge and you learn every day and I am still learning on it. So we invited him, and we asked him, what can we do to mitigate against this? Although initially I spoke to the governor and he said, I know an engineer that used to be with works and then came to LAWMA. I think he is retired now, he described him, so I came back and asked my team, who is this person? And they said Engineer Ogunbiyi, that he used to be head of Engineering. So, we went to look for him. And I said the governor said I should come and meet you, here is my problem, what can you do? He drew the new bins, the new bin is not like the old bins. Instead of it opening like a double wedged door, it is now opened like a latch. And then you don’t have it falling off, it is easy to repair. It is just like a mechanical hook it is not complicated. Then he also advised us that if you want to make bins buy quality steel. Quality steel lighter and they give you a minimum of 15 years warranty. But whereas, if you have a cheaper one, they are heavier and within 3-4 years, you start to rust. So a lot of other things were done and then we decided that the design that he has done for us, how do we do it? Then I took a decision, if we have to outsource it to a contractor, it would cost a lot. Each of those bins I remember when I was the executive director of when I went to North Island and each of those bins cost, minimum of $15,000. And that does not include the haulage cost. Because they are real metals, they are steel; each of them cost a minimum of $15,000. And I know that previous contractors said they bought some, but we decided we are not going to do that. We have to create jobs. So we put a call out to all the welders in Lagos Island, they worked here nights for good 85 days. So if you are a welder, bring your machine, if you are a panel beater come, so all of them with the LAWMA staff everybody. So, all the bins were made in this building. All we got was sheets and then we turned it into what you see. Talking about that bin, did you say you are importing them? No, we did not import the bins; they were made bins here in Nigeria. But the one you meant, you

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

BUSINESSWORLD know the household bin, you have a bin in your house, it is called a 14-litre plastic bin. So we are importing them. And I will explain the reason why and the decision we took with the company following. There is a company called Sheafer; Sheafer is the Ross Royce of the bin, just like Ross Royce of cars. They are the only company that will guarantee you 15 years for a bin. And they have tested their bin, you can throw it from eight floors down it will bounce, it will not break. And they have a microchip in there that says if it is green, that means it is not full. If it is red, that means it is packed with 75% of the bin. You talked about giving each household in Lagos a bin, we are talking about 2 million households in Lagos, how many of these bins are you expecting? What we are doing because we are doing it in such a way that we order the bin and then people can come and buy from us. You can come and buy from us at a discounted price. If you go out there to buy a normal bin from maybe GP or any other producers in Nigeria, you will get an average of about 28 to 30,000 and the warranty is different. This particular bin is 15 years warranty standard, and it is already GPS-tracked, RFID-tracked and the movement is tracked as well. We are looking to retail it for a maximum of N28,500 because of the dollar exchange. What that will do currently, the number of household that have our bin is less than 200,000. And that is why you see the bag, bag, bag, everywhere. If everybody has a bin, even if the PSP people visit you and you are a family of four, you can usually have a wheeled bin, that is the 240-litre bin, you can use it for a minimum of 10 days. 240 litres of waste is a lot. But if you don’t have a bin at all, what do you do? You don’t put outside, every day you are putting things outside, the rat will come they will open it. Scavengers will come and use their scroll bar and open it and pick the plastic and pick the iron and then leave the rest on the floor. So that is why we want to promote it, we are ordering the first sets, which is 40,000. Then in Mr. Governor’s clear terms, these companies Schaefer, need to come to Nigeria to establish a production plant in Nigeria. But they said, give us a commitment that you will buy X amount first before we can come to Nigeria to bring our mold and our factory. And we consider this, and we consider all the bin manufacturers in Nigeria. If we are to order these bins from them because we aim to make about 500,000 them available as a minimum for the first one year, all Nigerian producers if they start producing the bin, for the next one year they cannot produce the total number

INTERVIEW “But now that we have the required operational tools to do the job, our PSPs are in a better position to be able to revamp their ﬂeet as well. And also as promised by the governor on the day of the launch, they will be giving them ﬁnancial support and making sure that all their needs are catered for.” that we have ordering in the first batch. They cannot even produce half of it. So, it will take us a long time to achieve that dream, but we are not mandating everybody to compulsorily buy that bin. The locals will also be encouraged to be patronised. Once the bin comes, GP, OK plastic, we will have a promotion for them as well so that people can buy locally. Then you can start enforcing, you don’t have a bin in your house, the regulation says you must have a bin in your house. And then they know that they can readily buy that is okay. Not what we have now, some people have drums with no cover. The rain comes then it is filled with water. So, all those things we need to change. But Rome was not built in a day it is a gradual process. How many are you ordering? The current order is 40,000 and we have pre-order of about 21,000. Because for us as a government agency and for the state to be able to continue doing it we need to see the level of commitment. So seeing about 20 something thousand already pre-ordering it, it gives them confidence that when the bin finally arrives, a lot of people will be interested in doing that. And for our PSP it makes life easier. Don’t just move your truck and say let’s go today, once you can see your roof, okay this place all of it is green or amber, I can wait till tomorrow. This one all of it is red, they can plan their routes, diesel is up, if you roll out today and spend money just picking 10 bin, and then tomorrow you come and pick 20, you are just going to lose in the future.

Now the governor also launched what he calleed the city monitor, tell us about this? The city monitor is an app that was created for the monitoring of infractions and environmentalrelated infractions across the state. So everybody can download on Google Play, IOS whenever you see drainage problems, you take a picture it or construction going on wrongly or somebody doing waste dumping, somebody burning their waste because that is not allowed. So anything that has to do with environmental information, even if it is like wastewater, maybe soakway over spilling. Because if your neighbour has a soakaway that has broken up and it is over spilling and ignoring it, or noise pollution, and on a lot all those of things, that is what it is meant for. Because all the agencies under environment, LASEPA, KAI, LAWMA, LASPARK, Water Regulation, all of us will be using this app to monitor all infractions. It is a matter of you having it on your phone and then when you see anything that could create environmental impact or climate change impact, report, take a picture, what time, what location, date, and then you can enter your comment and then send it. Once it gets sent, LAWMA’s own will come to LAWMA, LASPARK own will come to LASPARK. Like someone cutting a tree without bothering about the environmental impact of it and felling of trees illegally, that’s what the app is for. We learnt some PSP operators not happy with this development, they see it as a threat to their business; what do you have to say about this?

The governor has said these trucks are not coming as a threat to the PSPs at all. These trucks are there for us as a regulator to manage public spaces only. The public roads like Ikorodu Road, Third Mainland, all those major roads because major roads are not allocated to PSPs. So what we have now, you can leave your road to the airport; you have to be the one that does the appraisal of your job yourself in terms of tidying up the state. So, it is for the major roads. It is very clear where we are deploying these assets. None of them is allowed to go into the inner streets. We are not even going to borrow anyone to go and do the inner street job except it is critical. And it is also very important, like you said, in a situation when somebody reports that a PSP has not turned up for two weeks, if it is a performance issue, or a neglected issue, we need to be able to react as an agency. We go there, tidy up the place pending the reprimand, pending the replacement. At the moment, we do have that. We can go in there intercept and do what we have to do. So, it is going to make a lot of PSP more serious because you know now that if you abandon a place and LAWMA is aware that you abandoned the place, they will go there sustain it and replace it. So, it is not a threat to the ones that are real PSP that are business owners. What we must understand in Nigeria and Lagos, and indeed everywhere, everything cannot hinge on government. I and you are government, you voted for Sanwo-Olu and I voted for him, that is why he is there. And he bestowed on me the responsibility of managing LAWMA. But if we are just trying to say everything is the government we are not going to move forward. So, attitudes need to change, even for our PSP we called them way before now and said change your ways because a parent can send you to school from toddler to an adult, and even do a PhD. And after that you will still expect your parents to come and pay your rents, no, no, no. In your question that you were talking about the underperformance of PSP, apart from the city monitor that will actually monitor the way they are performing, we have street captains now. Those street captains are youths across the streets. So in their streets, they are given five streets to monitor, they will report when PSP don’t turn up. It is work in progress, we have 377 wards in Lagos and currently, I can confidently say we are in 250 with the street captains. The other ones we will come it as time goes by. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

FRIDAY AUGUST 13, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

AVIATION

The Future of New Airlines While new airlines have started flight operations in Nigeria, others are about to start or in the works. But there has been this persistent argument that Nigerian carriers are not making profits due to an unfriendly operating environment. Chinedu Eze examines the motive behind the establishment of these airlines and their survival in the long term

t is almost a cliché in the Nigerian aviation industry that Nigerian airlines do not make profits. This is in spite of the fact that they generate huge revenue. The downside then appears to be that after deducting the cost of aviation fuel, cost of aircraft spares and maintenance, the payment of staff wages and other sundry expenses, the airline are left with very marginal or no profit at all. But since 2019, the industry has recorded new entrants, including Ibom Air, United Nigeria Airlines, and Green Africa Airways, which has just received its operating licence. Kanem Air and NG Eagle are on the queue to receive their Air Operator Certificates (AOC). Benefits In a recent study, the International Air Transport Association (IATA) report on passenger facilitation and cost competitiveness and measures of air cargo trade facilitation, said that if air transport’s unique contribution is the bridges it creates between cities, “then the flows of goods, people, investment and ideas that stimulate economic development must flow unimpeded to maximise their contribution to consumers and the wider economy. “Here we measure how freely goods and people flow across borders. Nigeria’s passenger facilitation (1.8/10) scores below the African average (3/10). On the World Economic Forum’s Travel & Tourism Competitiveness Index, the country ranks 127th for visa openness and 69th out of 136 countries for cost competitiveness. In all these scores and ranks, higher is better.” IATA also forecasted that air transport market in Nigeria would grow by 174 per cent in the next 20 years. This would result in an additional 9.4 billion passenger journeys by 2037. If met, this increased demand would support approximately $4.7 billion of GDP and almost 555,700 jobs.

WHY ESTABLISH AIRLINES? Industry experts say that the primary reason for establishing airlines by investors is to make profits. There may be other reasons. For example, the Chairman and CEO of Air Peace, Allen Onyema, said that what motivated him to establish the airline was to create jobs. However, profit making is a major motive for investment in airlines because without profit there won’t be any sustenance. Many Nigerian airlines are lamenting that the business is unprofitable in the country. Looking at ticket sales and the cost of aviation fuel and other obligations for successful operation, they noted that airlines might not be breaking even. An aviation legal luminary, who has monitored the industry for several years and is behind the establishment and running of many airlines, told THISDAY that Nigerian airlines do not make profits from ticket sales, and that explains why there is no correlation between the cost of operation and the cost of the tickets. In other words, cost of tickets does not reflect the cost of operation, which must be below the revenues for the airline to make profits.

ALLEGE MONEY LAUNDERING The aviation lawyer told THISDAY that airlines do not make profit from ticket sales and wondered how they survive over the years. He recalled the period during the defunct Nigerian Airways Limited (NAL) when the airline was generating revenue in foreign currency without flying to major international destinations. “Nigeria is the only place that I know where an airline makes more money for not flying. Then the airline (NAL) was collecting so much from KLM and British Airways. They were making money from nothing. What I do know is that money laundering is going on. Maybe, not all the airlines, but I know some airlines would officially earmark $5 million for aircraft acquisition and they will go and buy scrap for $500,000. How much did they get officially from FOREX? There are too many leakages. Recently palliatives were given to some airlines and others in the industry with outrageous conditions. The payment was steeped in controversy. But instead of giving palliatives, why not give rebate on

charges by the aviation agencies. I think that will benefit the airlines more. “Those managing the industry do not want the airlines to succeed. The industry itself can yield profits but the way airlines are run in Nigeria makes them unprofitable. It may however be profitable for those who know how to use the airline business in Nigeria. The current business model of airlines in Nigeria cannot succeed. At N30,000 for one hour flight, what kind of load factor will give an airline profit? It cannot be profitable; unless you have some other business model,” the renowned lawyer said. He stressed that the way airline business in Nigeria is run is not profitable but the industry is profitable. He recalled being involved in an airline that operated special scheduled flights to Abuja and two other destinations with minimum of 80 per cent load factor but for over two years did not make profits. He regretted that in Nigeria there is no level playing field in the airline business because an airline may be made to pay outrageous customs tariff, while another may be exempted; yet, the two airlines are competing in the same market. He added that if Nigeria is sincere about airline business it could build one of the most successful hubs in Africa; just as RwandAir is doing in Kigali.

STARTUP AIRLINES CHALLENGES The Managing Director of Flight Logistics Solutions, Amos Akpan, told THISDAY that the new airlines would face some challenges, which include the fixing price per seat per route. He said this would be an issue because the calculations from the planning table would be far from the reality in the field operations. “The reason being that the prices of the components required to make a flight keeps rising. If you planned when fuel was N180 per liter and the price becomes N310 per liter at the commencement of flight services, your economy is upstaged. Another factor is the insurance premium.There are unified regulatory requirements, lack of forex and the high cost of forex, daylight operations

that restrict aircraft utilisation to 12 hours daily.The income of the potential air traveler has a ceiling; therefore, there is a ceiling the airline can raise airfare,” he observed. He also noted that the hurdles of certification for operations are plenty and the process does not discriminate small operations from big and expansive operations, adding that skilled manpower with experience would be difficult for a fresh startup. “You are required to bring in atleast two aircraft before start of operations. The aircraft will stay on ground until you satisfy all requirements and be given air operations certificate. The investment gestation period is so long that it is difficult for the intending operator to explain to investors why they keep spending without yielding returns,” he noted.

DEVELOPED ROUTES Akpan said most start up airlines compete with old ones on the known routes and for them to increase their load factor they would have to bring down their fares and this is being done where operating cost is on the increase and in a very arbitrary way, as fuel marketers do not give airlines notice before they increase the cost of aviation fuel, known as Jet A1. “The fresh start up in Nigeria first joins the market developed routes before going to new undeveloped or abandoned routes. This means it has to lower fares as bait in an environment where operating cost is rising above anticipated income. If it goes directly into developing new routes, it needs financial pockets to build the market, in an environment where funds to start a new airline are scarce and expensive,” he explained. Akpan also warned that start up airlines have to be careful in drawing their business plan because of the fickle and sometimes ephemeral government policies, which sometimes become disincentive to investment. “The start-up airline has to be careful with drawing its business plan. In Nigeria it is difficult to implement a business plan because of policy fluctuations and unstablebusiness

“Now, I don’t think the number of airlines coming up will saturate the market. I do not think so. I think what will happen is that we will grow the aviation industry, to make sure that the strongest and best airlines will survive and will tend to absorb the weaker ones at the end of the day.”

terrain. The potential exist in the sector but the enabling environment to exploit the potential is required. We know what to tackle and we repeat them in every seminar and symposia, yet those problems remain unsolved. High cost of funds, high cost of insurance premium, insufficient forex, no maintenance facilities, no spare parts base, insufficient skilled manpower, high cost of fuel, no corporate management culture, and corrupt systems in the government agencies. The same problem that dog the older airlines are the same problems waiting for the start-up airlines,” Akpan noted.

SURVIVAL AND MERGER Industry expert and former CEO of Aero Contractors, Captain Ado Sanusi, said the upcoming airlines may not saturate the market but noted that over time some of them would merge with stronger carriers. “Now, I don’t think the number of airlines coming up will saturate the market. I do not think so. I think what will happen is that we will grow the aviation industry, to make sure that the strongest and best airlines will survive and will tend to absorb the weaker ones at the end of the day. Because the era of you establishing an airline, manage two or three aircraft for two years is over. You cannot sustain it,” he said. Industry observers also said that Green Africa Airways, which has just obtained its AOC, seems to have strong promise; so is Ibom Air, which has so far kept a good operational record, but they noted that for Ibom Air to have a future, its ownership must have to be tinkered with. “Ibom Air has a chance if they disengage it from government ownership. If they are smart they will put it in private placement. Let government take 15-20 per cent equity and not a controlling equity. Then they will get outsiders from the state to run it. The executive management should be driven from outside because after the current administration in the state, inside management would be suspected to be a stooge for the past government and that will not augur well for the airline. KPMG can be engaged to get the best hands to run it for a period of five years. In that way there won’t be interference, which eventually will kill the airline. “So far the airline is effectively managed now and the top officials from outside the state, who are actually the engine of the current management, could be kept and the airline insulated from government to ensure its future,” industry experts who spoke to THISDAY said. Industry insiders who spoke to THISDAY believe that the new airlines and even the old ones are still in a tepid situation and might face a precarious future, unless the industry regulators and government put in place policies geared towards sustaining the airlines and making them profitable.

T H I S D AY ˾ FRIDAY AUGUST 13, 2021

BUSINESSWORLD

NEWS

Odusote: Reliable Electricity Key to Lagos State’s Economic Goal The Lagos State Government has emphasised that stable and a sustainable power supply is key to the realisation of the vision for a Greater Lagos premised on the T.H.E.M.E.S Agenda of the Governor Babjide Olusola Sanwo-Olu administration. The State’s Commissioner for Energy and Mineral Resources, Olalere Odusote stated this while speaking at the Lagos State Electricity Policy Stakeholder Consultative Session. He added that the Policy will serve as a key driver for the socio-economic development of Lagos State. He emphasised that Lagos as the commercial nerve centre and the most populous State in Nigeria has enjoyed good governance, which has made it an immigrant destination for Nigerians and, as such, requires significant sustainable energy solutions. The Attorney General and Commissioner, Lagos State Ministry of Justice, Mr. Moyosore Onigbanjo, SAN, in his remarks explained that the move to create the Lagos Electricity Market was a deliberate policy initiative

of the State Government that rested on the powers vested in the State by Section 14 of the Concurrent Legislative list in the 1999 Constitution. Onigbanjo also made it clear that the state government is keen to collaborate with the Federal Government to transition regulation of electricity distribution within Lagos to a State regulator. In presenting key elements of the Lagos Electricity Policy at the online event, the CEO of Excredite Consulting Limited, Mr. Eyo Ekpo, Consultant to the State Government, stated that “Electricity Reliability for Lagos State means supply that is available to any customer in the State Electricity Market in the desired quality and quantity at the time it is needed’’. He explained the State’s key short and medium-term sector objectives include the enactment of an electricity law by 31stDecember 2021, achieving 30% year-on-year capacity and energy growth from 1,000MW/12,000MWh to 12,000MW/162,000MWh by 2028. Consultant, UK FCDO African Clean Energy Technical Assistance

Facility (ACE TAF), Dolapo Kukoyi, who supported the Lagos State Government on the off-grid energy aspects of the policy, noted the great value of off-grid solutions (OGS) in rapidly deploying clean technologies to bring electricity access to the State’s underserved and unserved areas. This, she said, would reduce poverty, improve social equity and inclusion as well as create jobs. Kukoyi noted that the Ministry of Energy & Mineral Resources will lead the development of an OGS strategy and plan to be executed by a specialised agency set up for the purpose. In closing, Engr. Odusote enjoined stakeholders to work with the State to achieve its aspirations for the Lagos Electricity Market, which should drive wider access to reliable power supply, reduce the cost of living and doing business in Lagos. The presentation of the policy was followed by various comments and questions from various stakeholders, who expressed support for the State Government’s initiative.

ipNX Begins Gigabit Internet Era with 1Gbps Broadband Service Emma Okonji ipNX has launched its FOS Xtreme1000, a new broadband service offering 1 Gigabit Per Second (1Gbps) speed to residential users, becoming the first player in the Nigerian market to offer such high speeds. The Xtreme1000 service features symmetrical speeds of 1000Mbps making it 50 times faster than the average broadband connection speed in Nigeria (20Mbps in June 2021). It is unlimited and does not include data caps, meaning customers will never experience data slowdowns or cutoffs. At the launch event, ipNX also announced speed upgrades for its full range of Residential Unlimited Broadband packages, offering customers more at the same price. Residential Unlimited customers would now enjoy speeds ranging from 10Mbps

to 150Mbps while FOS Xtreme customers will also enjoy speed upgrades from 200Mbps to 400Mbps. The SME series was also not left out as ipNX announced speed upgrades for all current packages with new speeds ranging from 30Mbps to 500Mbps. Speaking on the milestone achievement, Divisional CEO, ipNX Retail, Kene Eneh, said: “Launching our 1Gbps Fibre Optic broadband service is a real landmark for us at ipNX and also for Nigeria as a whole. Nigerians deserve to have the fastest Internet possible to fully benefit from all that the Internet has to offer. Making Gigabit speeds available to our customers is indeed a fulfilment of our strategy to provide services with boundless possibilities.” She further said: “We are proud to be the broadband leader in the markets we serve.

We have a deep sense of duty as a major enabler for Nigeria’s Digital Economy Strategy particularly in the provision of solid future-ready infrastructure and services. For our customers, we are certain that our 1Gbps plan will provide them with a boost in productivity, global competitiveness and also enable new digital experiences for them.” ipNX is the most experienced Fibre To The Home (FTTH) operator in Nigeria and has delivered FTTH) services since 2012. The company has been awarded prestigious national and global recognitions including the Beacon of ICT 2021 award for Fibre Optic Broadband Service of the Year. ipNX also gained global recognition from Ookla SpeedTest as the fastest and most consistent fixed broadband provider in Nigeria for Q1 and Q2 2021.

inq.Digital Wins Smart Solution Enabler Award Nosa Alekhuogie

enabling a smarter and more connected world, according to inq.Digital, a Cloud and Digital the organisers. Publisher of Nigeria Service provider has been adjudged Emerging Smart C o m m u n i c a t i o n s Solutions Enabler Company Week, organisers of Beacon of ICT of the year and Enterprise awards, Mr. Ken Nwogbo, while Broadband Services provider presenting the awards, said: “The of the year at the 12th edition of award is a testament to the Beacon of ICT (BoICT) Awards, talents, innovations, contributions which held recently in Lagos. and commitments to the growth The theme for this year’s of the ICT industry, which shows edition is “5G: Exploring that industry stakeholders and New Frontiers for Superior members of the public appreciates Service Delivery,” and it the values of inq. Digital’s hard focused around 5G, which if work, sincerity and dedication harnessed to its fullest potential, towards the development of the will support the accelerated ICT industry” Speaking on the recognition, rise of the Internet of Things,

Managing Director, inq. Digital, Mr. Valentine Chime, said: “We are honoured and inspired by the awards to sustain our commitment towards the growth of Nigeria’s ICT industry. These honours point to the fact that we are connecting with the public and the industry with our value proposition of re-imaging a better future through digital solutions”. According to him, “We have designed innovative products to address significant issues confronting businesses globally and locally, such as Edge-AI Video Analytics, SDN/NFV solutions and cloud solutions.

FRIDAY AUGUST 13, ͰͮͰͯ ˾ T H I S D AY

BUSINESSWORLD

MARITIME

Endless Promises to Remove Shipwrecks Eromosele Abiodun writes that despite the danger posed by shipwrecks to Nigeria’s maritime safety, several promises by government agencies to remove them have not been fulfilled. Only last week, NIMASA made a similar promise without being definite about the commencement timelines

ccording to estimates by the United Nations (UN), there are more than three million shipwrecks on the ocean floor globally. These wrecks sometimes contain vast amounts of crude oil or other hazardous substances that pose a threat to the marine environment. It was on the back of the realization of the risk which ship wreck pose to humans and aquatic creatures that the Nairobi International Convention on the Removal of Wrecks came into force on the 14th of April 2015, providing a framework for wreck removal. Nigeria is not unaware of the danger that these wrecks pose to its maritime activities, especially for a country largely dependent on imports, the bulk of which are ferried by sea. The country’s commercial hub, Lagos has been touted as one of the major cities with many shipwrecks on their seabed. In fact, statistics pegged the shipwrecks at over 200, with Lagos accounting for about half of that. For mariners and security operatives tasked to protect the waterways, the dangers posed by the menace of shipwrecks have reached frightening proportions. A few years ago, authorities of the Nigerian Navy (NN) raised the alarm over the presence of such shipwrecks in the country’s waters and the security and safety risks they posed. From Lagos to other states where seaports are located, ships find it difficult to navigate as a result of the wrecks. They have also made it difficult for maritime security operatives to respond to distress calls in good time without the wrecks standing on their way. Remarkably, Nigeria is a party to the Nairobi International Convention on the Removal of Wrecks (Nairobi Convention 2007). The Convention is a treaty of the IMO with the purpose of prompt and effective removal of shipwrecks located in the parties’ territorial waters including its Exclusive Economic Zone (EEZ) that may be hazardous to navigation or environment. The convention gives States’ Authority to remove wrecks and in Nigeria’s case the Nigerian Maritime Administration and Safety Agency (NIMASA). However, there are conflicting provisions in the Nigerian Ports Authority (NPA) Act and NIMASA Act as to who has responsibility for the removal of wrecks. Section 22 of the NIMASA Act gives the agency power to remove wrecks from the country’s waterways, while section 9 of the NPA Act also gives it powers to remove wrecks. Section 7 of the NIWA Act also gives it similar powers. Aside the security threat and navigational challenges, many lives have been lost over the years to boat mishaps caused by wrecks. Notwithstanding, government agencies responsible for the removal of wrecks have made promises over the years to have them removed, but nothing concrete has been done. On April 2, 2017, the management of NIMASA sent a notice to owners of abandoned ships/vessels to urgently remove same from the Nigerian territorial waters on or before April 28, 2017, or risk sanctions ranging from forfeiture or removal by the agency at the owner’s expense. This, NIMASA said, was in a bid to ensure safe and secure shipping on the Nigerian territorial waters, adding that all abandoned vessels littering the waterways and the shoreline of the country are affected by the directive. The then Director General of the agency, Dakuku Peterside, had in the notice stated that it was instructive to ensure that Nigeria’s waterways remain safe for navigation in order to advance the country’s maritime interests. He therefore, warned that all abandoned ships

at the meetings of the Chief Executive Officers of Maritime Agencies held at NIMASA headquarters in Lagos. Director General of NIMASA, Dr. Bashir Jamoh, said the functions of the three institutions as regards wreck removal were overlapping. “Section 22 of the NIMASA Act gives the agency power to remove wrecks from its waterways while section 9 of the NPA Act also gives it powers to remove wrecks. Section 7 of the NIWA Act gives similar powers. During our last meeting we agreed that NIMASA should go ahead and commence the process of removing wrecks within the nation’s territorial waters,” Jamoh said. He said the Federal Ministry of Transportation has been briefed and awaits the Public Bureau of Procurement (BPP) for a certificate of no objection. He added, “We will go to the Federal Executive Council, FEC, and then obtain approval to commence the removal of wrecks. What we could not achieve within the last decade, we achieved within the last two months.”

Jamoh

Dakuku would be declared as wrecks and the agency would ensure that nothing impedes safe navigation in Nigerian waters by removing them. “In line with our mandate on the protection of the marine environment and safety of navigation within Nigerian waters and our powers as the receiver of wrecks; owners of all abandoned ships, vessels and derelicts are sternly warned to seek removal plan permits from the Agency and ensure the removal of these wrecks and derelicts from our waters on or before April 28th, 2017 failure of which would attract appropriate sanction,” Peterside said then. He also reeled out the sanctions to include removal of such wrecks at the owners’ expense as well as forfeiture of the vessels stating that the agency is empowered to do so in line with the powers vested in it by the Merchant Shipping Act 2007 and other enabling Acts and International Maritime Organisation (IMO) instruments.

ANOTHER PROMISE IN 2021

Following public outcry and pressure from shipping companies, NIMASA last week announced that arrangementhas been concluded for the flag-off of an intensive wreck removal exercise in Nigerian waters by the agency. The Agency’s Director-General, Dr Bashir Jamoh, disclosed this during a ministerial retreat organised by the Federal Ministry of Transportation (FMOT) in Lagos. Jamoh also said arrangements had been concluded for the recycling of wrecks and derelicts recovered from the waters in partnership with the Bayelsa State Government and the Nigerian Railway Corporation (NRC), which already has a foundry in Lagos for wrecks’ recycling, with the ultimate aim of creating wealth from waste while providing jobs for Nigerians. The NIMASA DG commended the Minister of Transportation, Hon Rotimi Amaechi for approving the creation of the Maritime Intelligence Unit and the NIMASA Maritime Stakeholders Experience Contact Centre (MSECC), which are both initiatives to improve intelligence gathering and enhance stakeholders’ communication to ensure sustainable growth of the country’s maritime industry. He also disclosed that the automation drive

in the Agency had led to the integrated use of technology in the Certificate of Competency (CoC) verification process, which has seen a fall in manual verification practice. Jamoh said, “In 2020, the number of manual verification of CoCs dropped from 4,112 in 2019 to 2,750, representing 33 per cent drop in manual certificate verification. There was a total online verification of 9,723 in 2020.” The NIMASA boss also commented on the NSDP programme, saying 446 beneficiaries of the programme are currently undergoing sea-time training, while 351 have been assigned to maritime training institutes and are in the process of boarding for sea-time. He added that 93 beneficiaries of the NSDP were currently undergoing CoC, 360 had completed sea-time training and were awaiting CoC issuance, while 368 beneficiaries of the NSDP project were already fully employed. On the issue of Vessel Monitoring and response to distress calls in the sub-region, Jamoh stated that the Global Maritime Distress and Safety System (GMDSS) equipment at Tarkwa Bay and Kirikiri, both in Lagos, were fully installed with the capacity to cover nine countries in the West and Central African Region. The Ministerial retreat, the second this year, had in attendance the Honourable Minister of State for Transportation, Senator GbemisolaSaraki; Permanent Secretary, Federal Ministry of Transportation, Dr. Magdalene Ajani; Acting Managing Director of the Nigerian Ports Authority, Mohammed Bello Koko; and Executive Secretary of Nigerian Shippers Council, Emmanuel Jime. Directors from the FMOT and the three Agencies also attended.

FG AGENCIES COLLABORATION

Another major obstacle that made the removal of wrecks impossible was the inter-agency rivalry and the arguments among the agencies in the maritime industry as to whose responsibility it is to remove the wrecks. To resolve this, the Nigerian Ports Authority and the National Inland Waterways Authority (NIWA), early this year transferred their wreck removal functions to the Nigerian Maritime Administration and Safety Agency. Heads of both Agencies made this disclosure

LOKOJA ACCORD

At another meeting of the government agencies in the sector in Lokoja, they resolved to ensure security and safety on waterways for improved water transportation through adequate collaboration and synergy. Managing Director of the National Inland Waterways Authority, Dr George Moghalu, disclosed this at the end of the meeting of Chief Executives of Maritime Agencies in the Kogi State capital. Moghalu said the Chief Executives of the agencies discussed issues relating to maritime security and safety, capacity building and enforcement of security protocols, to reduce the carnage on the nation’s waterways. He said, “This is our routine meeting which from the point when we started, is aimed at building synergy by coming together, taking our policies together, to see how we can work together for the benefit of our nation, Nigeria.’’ According to him, the CEOs at the meeting constituted a committee on the multimodal approach to cargo delivery, to enhance seaport and dry port operations. “We are looking at what we can do to harmonise the operations of all maritime agencies in the country to better the maritime industry, especially in the area of movement of cargo between the river ports, “he added. He said that there was a need for effective water transportation in view of the positive impact it would make on the economy, in reducing ports congestion and haulage of heavy-duty goods through the roads. On frequent capsizing of boats and mishaps on the waterways and safety measures, he noted that only last week, NIMASA organized, “a world-class safety and security conference” in the country. “The Safety issue is not peculiar to our Waterways, we also have security challenges on land but the important thing is that government is conscious of this fact. Agencies of government are also conscious of this fact. Gunboats have been acquired, NIMASA is also doing a lot in that direction.’’ Moghalu urged the citizens to play roles expected of them and obey basic rules and regulations laid down by NIWA, as he attributed the incessant boat mishaps to non-compliance by boat riders. Agencies present at the meeting included NIWA, NIMASA, Nigeria Customs Service, Nigeria Railway Corporation (NRC), Nigeria Shippers Council and the Federal Ministry of Transport, among others.

THIS WEEKEND WEEKLY MAGAZINE

NEWS METRO THISLIFE ART WEEKEND ENTERTAINMENT Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com 07010510430

Ibukun Adebayo-Adedayo: Medical Doctor-Turned-Realtor

T H I S D AY ˾ ͯͱ˜ ͰͮͰͯ

COVER

Ibukun Adebayo-Adedayo: Medical Doctor-Turned-Realtor Ibukun Adebayo-Adedayo, Chief Executive Officer of Rock Realty Limited and Today’s Bukka, is a successful businesswoman whose passion is to build the next generation of formidably successful women in the real estate industry in Africa to show that success as a woman in the real estate space is possible. In this interview with MARY NNAH, she talks of her vision to redefine the industry You are very passionate about middleincome earners owning their homes early enough in life. What fuelled this passion? y passion for middleincome ownership started when I was an employee. I was earning significantly well, had a good official car, could go on summer holidays with my kids, lived well, ate well and so on but I could not put together bulk monies to own my own house because all real estate adverts I saw required that I deposited a significant amount of funds upfront; which I did not have. The payment requirements were out of sync with my income pattern. So as much as I desired to own a home, homeownership became a mirage. I didn’t get my first home until I started working for myself and could pull up bulk funds in business transactions. Fast-forward to the commencement of my real estate company, we decided to focus on middleincome real estate and our passion is to consistently help middle-income earners achieve homeownership, using strategies that are in tandem with the income and earnings pattern.

work; whether I am there or not. On this one, the accolades go to my teams! They have been phenomenal. When I count my blessings, I count them twice.

The real estate industry has become lucrative, it seems to be more saturated, so how have you been able to be distinctive with your brand? First, the real estate industry in Nigeria is not saturated. The singular reason is this; if you put the number of houses built against the number of homes that should be built per annum, to cover the over 20 million housing deficit in the country, you will find out that we are not even scratching the surface of recovery numbers. However, there needs to be a redistribution of clientele focus. We need more developers moving into the lower-middle-income housing and affordable housing spaces; which are where the large “housing deficit” numbers lie. Now, we have been able to distinguish ourselves by providing home-purchase solutions that are tailored towards affordability for the average middle-income earner. This business strategy stands us out in a Blue Ocean and we have our target market; which requires this bespoke service. These are the average upwardly mobile professionals – mostly from Generations Y and Z.

You are a medical doctor-turned-realtor, how do you feel about the switch? Rule No.1; pursue your constructive passions once you recognise them. However, I still look forward to doing a lot of things that touch on my first-degree training as a doctor. Some of those include having niche projects related to the medical sector such as massive hospital constructions, medical villages in which doctors would have home purchase at discounts and so on. So, yes, I have switched careers but I still intend to switch on the cross-over hat as the years go by with these types of medically-linked projects. You have not only become a successful realtor but a vision breeder, especially for women in this industry. How do you intend to help women achieve more in the Nigerian Real estate sector? I am currently working with my team for the official launch of WIRE Africa (Women in Real Estate, Africa) in the 4th quarter of 2021. The official launch was initially scheduled for November 2020, but the COVID-19 realities resulted in a delay in commencement. However, plans are currently fully underway to ensure that this initiative kicks off effectively within the next few weeks. I urge women in real estate to watch out for details in the next quarter. The main motivation for WIRE Africa is summarised in the statement of T.D. Jakes to the next generation beckoning on the players in the different industries to rise and take the bull by the horn and produce a template of success for successive generations still coming behind them. WIRE Africa is an association that seeks to build the next generation of formidably successful women in the real estate industry in Africa who would step on the foundation being laid by the women that have shown that success as a woman in the real estate space is possible. The focus would be on current young women operating businesses in the real estate value chain–real estate development, real estate transaction advisory, real estate legal advisory, real estate marketing advisory, architecture, real estate marketing, mortgage brokerage, real estate valuation, and real estate branding. The thrust is to create a platform that empowers, educates, and allows women to collaborate in the industry to foster a culture of success for women in real estate in Africa, starting from Nigeria. Aside from your success in real estate and properties you are also a restaurateur

The economy of the country has not been friendly, especially for stakeholders in this sector. What is the fate of realtors as the prices of building materials skyrocket? Inflation in Nigeria at 17.93% (March 2021) coupled with the devaluation of the Naira presents a challenge for most industries and not just the real estate sector. However, a major issue for real estate developers is the fact that many projects that had been sold at certain prices to off-takers have now been negatively impacted by the increased prices of building materials. This slims the expected profit margins and in some instances throws the projects into loss-making transactions. Some developers have therefore had to resort to sending upward price revision notices to their buyers; as that is the only way they would be able to cover costs and complete the projects successfully. Ultimately, whenever the prices of building materials increase, prices of homes and commercial real estate go up in tandem. Therefore, we expect to see prices of real estate escalate over the next 12 to 36 months and the market would self-regulate eventually.

Adebayo-Adedayo and a motivational speaker. How have you been able to combine all these without clashes? It is all about structure! I have put business structures in place that allow

my businesses to run effectively without me having to be in them 24/7. This is my moment to give a shout-out to the members of my teams who work tirelessly to ensure that the organisations succeed. It is amazing how hard and smart they

I would be heightening my focus on giving back to my world, especially with a focus on younger women coming behind; by consciously demonstrating a template that they can also replicate as they move up the ladder of success

You seem to be a workaholic. How do you relax? I need to do some more work on personal leisure! I need to remind myself that I need rest from time to time. However, for now, my best “relaxation strategy” is going to the spa for a good massage. I am literally a regular with regards to that. It calms my nerves. Aside from this, my hobbies are singing to myself (very loudly) and reading. You recently clocked 40, would you say you have achieved your dreams and what are your aspirations going forward? I would say God has been faithful to me. As for aspirations, the next decade is a focus on consolidation and a greater focus on maximising opportunities as I move towards 50. Also, I would be heightening my focus on giving back to my world, especially with a focus on younger women coming behind; by consciously demonstrating a template that they can also replicate as they move up the ladder of success. Above all, as I have always done, I have presented my written goals to God, who has always been the Doer for His direction and help as I go on to execute the strategies He has placed in my heart.

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Lighten Up the Mood with BoyMx’s New Single, ‘Dey Here’ Stories by Mary Nnah Fully aware of the gloomy state of Nigeria and world at large, Nigerian up-and -coming artist, Moses Agbogun aka BoyMx, recently, released his new single, “Dey Here”, which he describes as, “A feel good song to lighten up the mood”. BoyMx, an emerging artist to watch, and a stern lover of afro beats and afro swing, said the song released on June 16, 2021 is an upbeat afro beats tune that gets you to the dancefloor. With over 60,000 streams across various digital streaming platforms, Dey Here is currently burning up the radio stations and dance floor in Nigeria and other African countries. His current single has gotten great reviews across Nigeria and other countries. BoyMX’s music career kicked off in 2015 while at the Federal University of Technology, Yola (FUTY) now known as Modibbo Adama University of Technology (Mautech), Yola, when he dropped his first single ‘Ali’ which was well received and gained airplay in Kano, Kaduna, Yola and Abuja. He followed the success with the single ‘Sabi the flow’ which helped coin his alias.

BoyMx went on a short hiatus to complete his university education in the prestigious Ahmadu Bello University (ABU), Zaria, where he bagged a degree in Chemical Engineering with honours. He has gone on to release many freestyles and covers on Nigerian pop tunes. Speaking on what inspired the new song, he said, “Dey Here” is a feel good song to lighten up the mood. This is simply one for the culture as my fans deserve to dance and be happy.” The singer is a gifted lyricist and songwriter. His flow has a catchy laidback vibe which he infuses English, Pidgin, Hausa and Yoruba to produce what he calls Sabi Music. BoyMx fell in love with music while growing up and made rap covers of Micheal Jackson songs. Born Moses George Agbogunin Yola, this indigene of Ogori Magongo LGA in Kogi State, was brought up in Yola, Adamawa State, where he attended his primary and secondary schools - Abti International School and Abti Academy for Secondary, respectively. He started his tertiary institution at FUTY, now Mautech, Yola, before moving to ABU, Zaria to complete a degree in Chemical Engineering. His musical journey began

in 2012 when he started writing music while also miming other hit songs by Nigerian and foreign artists. “I am versatile with my music hence focusing on growing my sound came very easy for me. I rap fluently in Hausa, Pidgin, Yoruba, Patois and English”, the up and coming artiste recalled how it all started. BoyMx as he is popularly called, started his music professionally in 2020 with a single titled “Work”, released on November 13th, 2020, a laid-back afro pop tune that sheds light on the need to hustle and to work for the good things of life. On how he intends to break into the oversaturated Nigerian music space, he said, “I don’t ever see the industry as over-saturated; there is always space you just have to find it. The industry is constantly growing hence you have to bring something unique and fresh to the table as a new artist. I believe talent alone is not enough. You have to put in the work, learn from your mistakes and have a team.” BoyMx is no doubt unique in his own way. “I feel my style of music is unique with my delivery, flow and my content is different”, he said. He said fans should expect more single; relatable and

BoyMx’s unique music, adding “I have a mix of afro beats and

hip-hop tunes for my fans and yes a body of work soon and

EP. I am sure my fans will love every bit of it.”

Chaka Partners TradingView on Investment Opportunities Having secured SEC’s first Fintech license and a $1.5M pre-seed funding round, digital investment platform, Chaka, has partnered TradingView, the world’s leading online charting platform to spot investment opportunities in global markets. The partnership will enable pro-traders and businesses across Africa to have direct access to over 11,000 assets trading on international stock markets, advanced charts, and

trading ideas, among other key trading advantages. This partnership makes Chaka the first African broker to launch TradingView for retail investors and businesses in Africa. The benefits of this collaboration to Chaka’s clients include access to advanced tools for effective trading analysis, access to a wide trading community and real-time trading ideas, personalised onboarding, and account

support. Commenting on the partnership, Tosin Osibodu, Co-founder & CEO, Chaka Technologies said “We are proud to announce this partnership with TradingView, which aligns with our mission to enable borderless digital investing for every African. “As we work to expand our footprints on the continent, one of our key objectives is to identify and harness strategic partnerships such

as this, as well as leverage our proprietary infrastructure, to deliver world-class, leading tools and platforms for Africans to invest, trade, and build lasting wealth.” Also speaking about this partnership, Pierce Crosby, General Manager, TradingView, said: “At TradingView, we’re constantly seeking opportunities to expand and strengthen the TradingView community as we do with our tools.

“TradingView never stops expanding and today, we’re excited to announce the release of our first Nigerian stockbroker, Chaka. We’re delighted that African traders and businesses can now access TradingView through a local, licensed broker and we look forward to building on top of this partnership.” With this partnership, investors with Chaka can use their brokerage accounts on TradingView’s platform to

trade directly on its charts and enjoy the platform’s community features and analytical tools combined with Chaka’s pricing, execution speed, and hands-on customer support. Chaka’s customers can have access to TradingView’s investment community online, which has over 15.5 million active investors, as well as 6 million trading ideas and 34 million user-created charts. Visit chaka.com/tradingview to learn more.

Axxela Reiterates Commitment to Enabling Eco-friendly, Healthier Society Axxela Limited, one of subSaharan Africa’s leading energy solutions providers, has reiterated its commitment to a greener and healthier environment as it partners the Lagos State Parks and Gardens Agency (“LASPARK”) to commemorate the 2021 Lagos State Tree Planting Day. This year’s theme tagged, ‘’Restore and Recover’’, is the tree planting initiative of LASPARK deliberately focused on raising awareness on the need to protect and

restore the environment. It aims to enhance healthy living through the planting of trees to achieve reduction in atmospheric greenhouse gases and enhance a greener, cleaner, and healthier environment. The main commemorative tree planting event took place recently at the Urban Forest Park, Abraham Adesanya Estate Road (Ogombo Road) Setback, Off Lekki-Epe Expressway and simultaneously at the 57 Local Governments

and Local Council Development Authorities of Lagos State. Commenting on the gesture, Axxela’s Head of Environment, Health, Safety and Quality, Uche Okpala, said: “We remain resolute in our commitment to promoting and enabling an eco-friendly environment in our operations and supporting our stakeholders in upholding best practices in entrenching these goals. “ To this end, we have committed to support LASPARK’s

tree-planting drive with an additional 3,000 seedlings; bringing Axxela’s total tree seedlings donated to 14,000, in the quest to achieve its mandate of an extensive environmental restoration in Lagos State, one of the world’s most populous cities, vulnerable to flooding due to its geographical proximity to the sea. We are confident that these steps would be critical in the mitigation of these risks.” In her remarks, the General Manager, LASPARK, Mrs. Ad-

etoun Popoola, said: “We are very grateful for the support and partnership of Axxela Limited. The organisation has supported LASPARK for several years and this year has not been an exception. “Its continued support has enabled us to do more, especially to achieve our mandate at the agency. As part of our outreach programmes, we have commenced a minibotanical garden in one of the schools to be established very soon.

“This is the decade of ecosystem restoration as declared by the United Nations and we are committed to implementing plans that will help us achieve this goal.” In 2019, Axxela was recognised by LASPARK as the ‘Most Supportive Private Sector Organisation’ for its commitment to the organisation’s drive to restore the city’s eco-friendliness through the planting of 50,000 trees annually across targeted locations, botanical gardens, and parks.

FrieslandCampina WAMCO Relaunches Products with Word Twist Campaign FrieslandCampina WAMCO, Nigeria’s foremost dairy company and makers of Peak and Three Crowns milk, has announced a digital ‘Word twist’ campaign to relaunch Olympic, Coast and Nunu milk brands into the Nigerian market. The new ‘Word twist’ campaign requires consumers to compose meaningful sentences with Coast, Olympic and Nunu for a chance to win fantastic prizes.

For example, “You can now Coast to natural goodness like the fastest man alive cruises to Olympic medals with one Nunu milk a day in your meal.” Speaking on the development, the Marketing Manager, Omolara Banjoko disclosed that the campaign became necessary following FrieslandCampina WAMCO’s acquisition of PZ Nutricima and its brands; Olympic, Coast and Nunu.

“These brands have an existing portfolio across different formats with varied strengths in the different regions of the country. Hence, with this campaign, we plan to strengthen the perception of the brands leveraging FrieslandCampina WAMCO’s strong heritage” Banjoko said. She further explained “We are committed to bringing affordable and readily available quality dairy products

to Nigerian consumers and with this acquisition we will be able to meet the growing demands of our consumers. “Coast Milk promises natural goodness and therefore it is a perfect match that will work well with consumers who wish to stick to natural made products. Adults have a myriad of responsibilities to attend to daily and with Olympic milk, they are assured of getting the right nutrients that will cater to

their energy needs and active lifestyle. “Nunu offers nutrientrich milk that can conveniently be used by consumers and businesses looking to upgrade their everyday meal and intermediate products. Olympic, Nunu and Coast milk are back like they never left and we encourage people to look out for the brands in their neighborhood” Banjoko said.

Banjoko note further that interested participants should visit the social media handles on Facebook @OlympicNigeria, @NUNUMilkNG @ CoastMilk and on Instagram @coastmilkng and @olympicnigeria @nunumilkng Adding that FrieslandCampina WAMCO will continue to expand its portfolio, particularly through low unit price packs and by strengthening its distribution reach in the market.

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E-TRENDS

MUSIC SHOWBIZ

…Your weekly entertainment delight

NOLLYWOOD

Showmax Records 16% Increase in Local Content Viewership Vanessa Obioha Since its launch in Nigeria two years ago, Showmax, the OTT platform from MultiChoice, has recorded an uptick in its local content viewership. According to the Senior Specialist Partner Communications, Showmax West Africa, Adeola Oluwatobi, the growth is reflected in the percentage of local content viewership on the platform, which grew by as much as 16% year on year. “Local content offering continues to be a strategic differentiator for Showmax in the OTT market, and this is reflected in the percentage of local content viewership on the platform, which grew by as much as 16% year on year,” he said. Statistics the platform released last year showed that four of the five most-viewed titles were local productions, and 50% of the top 10 titles overall. This year, it has launched more Showmax originals than in previous years, including its first Nigerian original reality TV show based on the life of the winner of the Big Brother Naija Lockdown season, Laycon. Oluwatobi disclosed that the

show was a huge success and the company is looking forward to investing more in producing Nigerian originals. “We were blown away by the response to our first original series, ‘I Am LAYCON’ and have recently launched BBN S6: The Buzz – a weekly chat show hosted by Toke Makinwa. The latest project in the works is the comedy series ‘Ghana Jollof’, produced and starring Basketmouth.” Apart from ‘I Am LAYCON’, Showmax boasts a list of Nollywood films and Africa Magic originals such as ‘Enakhe’ and ‘Riona’. It recently started streaming Big Brother Nigeria live in the UK for the first time. It is also home to HBO content in Africa. But with international streamers eyeing the Nigerian film industry, the competition may get stiffer in the coming days. However, Oluwatobi expressed confidence that the platform is geared for any competition. “The fragmentation of the streaming market is happening all over the world and it’s important that we focus on what we do best – which is offering a unique mix of the best international content, the best of African content through our

Showmax originals and tapping into the wealth of Nigerian and African content produced by our mother company MultiChoice Group.” He added that “In the streaming wars, there isn’t going to be one winner. We are already seeing the growth in super streamers, who sign up for three, four, or more streaming services concurrently. People will choose the streaming services that have the content they want and change between them to find the series or movies they want to watch. As Africa’s most loved storyteller, we are also proudly building up a unique African content catalogue that tells genuine Nigerian and African stories from an African perspective. This sets us apart from other OTT streaming services.” He reiterated that Showmax will continue its relationship with international content partners. Overall, Oluwatobi revealed that Showmax has recorded steady growth since it entered the Nigerian market. “Over the last year, we’ve seen solid growth in monthly active users, play events and average viewing time. We achieved solid

Adeola Oluwatobi growth in subscribers paying for Showmax, benefiting from targeted marketing campaigns, an increased volume of local content with a focus on fresher titles, and first and exclusive releases created for specific

Showbiz Promoter Ozone Expresses Dismay Over Lull in Ebonyi Entertainment Sector

geographies.” Showmax launched Showmax Pro in Nigeria which so far has recorded significant growth. “This year already, together with SuperSport, we have live-streamed Euro

2020 and all events at Tokyo 2020 Olympic Games. We are the only streaming service in Africa that will be live-streaming all matches from the English Premier League, Serie A and La Liga,” he stated.

Ahmed Green Releases New Single Ahead of Debut Album

Vanessa Obioha The popular showbiz promoter, Nwuruku Ozor Alex also known as Alex Ozone, Ebonyi State has expressed concerns over the poor state of entertainment in his state Ebonyi. According to him, the state is lagging in areas of entertainment and showbiz. “The lull in this sector of the state has been a source of worry and concern to many, given the derivable benefits that a vibrant entertainment sector in Ebonyi will accrue. This is very painful indeed, and I wonder whether many are not thinking in my direction,” said the CEO of 03 Media Group. Sharing his vision for the youths of the state, Ozone said he strongly believes that, with an aggressive mind like his in the sector, all things being equal, the state will soon shout Uhuru. But that is if all the round pegs are put in the round holes. “My vision for the state in this regard is not personal, but very holistic in every facet of the entertainment industry, much to the embrace and benefit of the youths who belong to the micro-world of what other youths in their ilk are enjoying and are always basking in that euphoria. “A state like Ebonyi, with about six tertiary institutions and scanty clubhouses that cannot boast of a periodical concert or show to attract students and social buffs, is not a good testament and leaves much to be desired. This is unlike what happens in other states where entertainment is like a breather for many youths who always look forward to

Ahmed Green

Vanessa Obioha Alex Ozone the next edition of a particular event, where their admirable stars and performers are on stage.” He argued that the state is blessed with “brilliant-minded and eminently-talented artistes like Patoranking, Sinachi, Tekno, and much more vibrant youth in film making, movie, comedy, creative arts, visual arts et al who can contribute so much to their beloved state but have virtually been left in the lurch by their government, much to the advantage of other states, who have been utilising these impressive young talents to better the lot of their states.”

He wonders why the state government is not toeing a similar path. “So many times, I hasten to ruminate over whether the government ever has entertainment and mobilization of the youth in place, through this veritable avenue and its appurtenances. This readily brings to my worried mind why this very critical sector has been grossly neglected and shoved aside like a pack of cards by successive governments in the state.” The way Ozone sees it, music stars from the state are not identifying with the state, because there is no readily

available avenue for them to participate, showcase and tutor other yearning youths through the fast-evolving multi-million Naira showbiz and entertainment industry in general. Well-known in the entertainment industry as a music promoter, who has exported Nigerian music to the world, and managed many star artistes like Timaya, Terry G, Oritsefemi, Tekno and Patoranking, Ozone has done his share of promoting his state to the world. In 2015, he organised the ‘Abakaliki Concert’ which was star-studded, and to date, is a record-breaker in the state.

Former member of the defunct group Gospel According To Rap Ahmed Green recently released a new single ‘Oruko Jesu’. The single is coming ahead of his long-awaited album. For a while now, the fashion designer has been in the studio recording songs for his debut album. Titled ‘The Exodus’, the 10-track album is expected to be released soon. “Music epitomizes an allencompassing surrender, a pledge to God and all God’s creations under the sun. I’m using my music to entertain and at the same time, return the lost souls to God,” said the gospel artiste. The graduate of Public Ad-

ministration from Lagos State University is not a newbie in the music industry. He has worked with established acts like Cobhams Asuquo, Asa, TY Bello who he featured on his upcoming album, Rooftop MCs, Timi Dakolo and the late Sound Sultan. He started honing his music skills right from his teen years and today wears the cap of a songwriter, singer and rapper. Green is a singer on Mastaplan Records co-owned by Ikemefuna Moses and Andrew Udo Peters aka “Dready” and chaired by Gbenga Shokefun, the man who introduced us to KUSH and jointly owned Questionmark Records (former home to Asa, Silver Sadih, Street Monks). ‘The Exodus’ will be distributed by Tjoe.

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ART WEEKEND

…For pure art enthusiasts

ATale ofTwo Female Artists in Conversation An inter-cultural show titled‘A Vernacular Homage to Architecture and Design’blends the Nigerian and South-African cultural perspectives to celebrate the energy of African Arts.Yinka Olatunbosun writes

hey were both born in 1993. Nigeria’s Anne Adams and South Africa’s Lulama Wolf Miambo would never have imagined that their paths would cross. But that happened recently at Affinity Art Gallery in Victoria Island Lagos where both artists exhibit their works within their socio-cultural contexts. The show is a product of the collaborative project between the gallery and Undiscovered Canvas, a boutique art gallery based in the French Riviera. Amongst other things, the show highlights the importance of tradition, heritage, design and sustainability with focus on social functions and information passed down through generations by African matriarchs. In retrospect, the artists investigate the period in history where art existed out of the necessity of who people were, their lifestyles, cultures, spiritualism and when humanity was intertwined in a rhythmic dance with nature. Vernacular Architecture- a principal theme in Miambo’s work- explores the human disposition in imaginative and stylized ways. Miambo, who works and lives in Johannesburg interrogates the pre-colonial African experience through the contemporary mind by studying the patterns used in decorating homes, similar to the practice by the women of the Ndebele tribe of Southern Africa. These patterns serve as a means of communication. Miambo’s approach to her new body of works called “Remaining Vernacular’’ is reminiscent of the textures and character of these South African modes of communication. With a background in fine art and fashion, and inspiration by two avant-garde South African artists, ‘Mmakgabo Helen Sebidi and Ernest Mancoba, her interest in expressionist and abstract art grew. As for the pottery artist, Anne Adams, the works of the Cameroonian ceramist Natalie Djakou Kassi opened her mind to the use of clay. She cited the importance of pottery in Nigeria’s indigenous history with the example of Ladi Kwali, the only woman on the Naira note who is a potter. Using

One of Clara Aden’s works at the online show

Clara Aden Addresses Food Crisis in a Virtual Exhibition Yinka Olatunbosun Ato Arinze, Anne Adams(Exhibiting artist), Djakou Kassi

the coil method to create edges and silhouette, Adams’ intimacy with clay is therapeutic. “I’m exploring my command of clay by pushing structural limits. I am also telling stories of the precolonial era,’’ she revealed. Nomaza Nongqunga Coupez, Founder, Undiscovered Canvas is a South African who had lived in Southern France for 11 years. She is keen on promoting young artists from Southern Africa and other parts of the continent. “I wanted Miambo’s work to communicate with another female artist in discussing vernacular architecture. Personally, my favourite media for arts is clay because I think that clay is one of the most beautiful materials coming from Africa. It is dance between the creative, you can mold it, script it and tell stories on it. For me, clay is quite important, when I met Tunde at Affinity Art gallery, we came up with a collaboration. The idea is that the two will be talking together as women. It is about transferring the knowledge. We want to have that conversation between two women,’’ she

said. In addition, Coupez argued that apart from gold and oil, Africa’s cultural heritage is one of its biggest commodities which, sadly is the least invested on. The Founder, Affinity Arts Gallery, Olugbemiro Arinosho also explained that the gallery’s vision is to celebrate African artists who have creative works on African narratives in order to foster stronger relations between Africans. “You can see the relationship between the works even though they had not met each other. We want to celebrate African artists whose works represent African narrative and we want to represent emerging artists and support them. There is not enough infrastructure to support the artist so we are trying to come up and let them know that there is an avenue to showcase their works. We also want to champion women because there are lots of talented women in the arts,’’ he said. At the exhibition which runs till August 28, Adams has 13 works while Miambo has no fewer than 20.

Fosudo Emerges as Winner at 4th Beeta Playwright Competition Yinka Olatunbosun Escaping from the snarling Lagos Traffic, Temilolu Fosudo made it to the grand finale of the Beeta Playwright Competition at MUSON Centre, Onikan, Lagos on August 4. His mother arrived at the hall before him and gladly received the prize on his behalf. Temilolu had to interrupt her acceptance speech in sheer excitement as he rushed in. Fosudo had won the first prize in the competition with his play titled ‘Black Dust’ while Kalayingi John-Africa and Ibukun Fasuhan won second and third prizes respectively. JohnAfrica who hails from Bayelsa state entered the competition with her play titled, ‘Orchid’ and Fasunhan, who had been a stage manager for major theatre productions including Saro the Musical 1 & 2. The Founder, Beeta Universal Arts Foundation, Bikiya Graham-Douglas thanked Union Bank for the unflinching support and revealed how the winners were selected this year in her welcome address. “We received 538 entries from across the country and in the diaspora and are thrilled that many young voices are taking this opportunity to share their stories with us. Our past winners Paul Ugbede, Abdul-Qudus Ibrahim and Achalugo Chioma Ezekobe have since had their plays published and produced to audiences of over 30,000 people in different parts of the country thereby introducing their work to the next generation. We have also seen tremendous success among our finalists with one of them, Dr. Soji Cole going to win the prestigious NLNG prize for Literature. We are pleased to be able to holistically impact the value chain of the performing arts industry in Nigeria by empowering all players to include the writes, directors, actors and other professionals in the eco-system. “At Beeta, we are passionate about telling

According to the 2020 Global Hunger index, there are 10 hungriest countries namely Chad, Timor-Leste, Madagascar, Haiti, Mozambique, Liberia, Sierra Leone, Lesotho, Afghanistan and Nigeria. Each day, it is estimated that 25,000 people die from hunger and related causes. Thus, the creative peacebuilders are using their artworks to stir conversation and raise awareness through ‘Art about Zero hunger.’ “There is a need for urgent call to action to prevent famine,’’ said Clara Aden, one of the participating artists in the global conversation on food crises. In her body of work titled, “Suffering and Smiling’’ funded by Peace Studio, she created a body of work that interrogates the social reality in her home country, Nigeria. “To promote peace, we must get to the root of conflict and understand others. As a creative peacebuilder, I aim to use my visual storytelling artworks to address the issue of acute food insecurity, addressing hunger is a foundation for stability and peace. There are thirteen artworks virtually displayed. These works express the stories of resilience, sense of belonging and the interlink between conflict and hunger,’’ she wrote on her Instagram page. Aden is an award-winning artist also known as the first lady of the Molue Mobile Museum, a one-week experimental residency project curated by Nigerian German curator, Emeka Udemba.

FourFemaleWriters ReopenEbediInternational WritersResidency Yinka Olatunbosun

Fasuhan (3rd), Fosudo (1st), Graham-Douglas (Founder, Beeta Playwright Competition, and John-Africa (2nd) at the Grand Finale of the competition

contemporary organic stories and understand the responsibility that comes with this. It can be daunting putting competitions and productions like these together but we believe it is our responsibility and are committed to doing so,’’ she said. Fosudo who spoke briefly with the media after the ceremony revealed that the winning work is rooted in his interest in social-political issues. “Black Dust is about corruption; it is about the situation in Nigeria how corrupt leaders and megalomanias seize freedom from the people. There is a character that is an activist in the pay who challenges the authority- the villain who was a chief judge of the country. That is the plot. The hero is Oko Orin- a musician and an activist. I try to model him after Fela Anikulapo-Kuti. “I like to write about social issues. The previous play was about identity. One of our problems is that we don’t appreciate our identity and we have borrowed identity from the west. That is what makes us scattered and confused as a people. It’s about finding our identity but this play focuses on corruption and abuse of power. I have written nine plays and produced three of them.

I look forward to producing more,’’ he said. Fosudo acknowledged his father’s role in shaping his writing career. He wrote his first play at age 18. His father got it typed and presented it to him. “That really encouraged me. He sent me to the university of Ibadan to meet one of the lecturers there, Dr. Tunde Awosanmi who took me under his wings and trained me. This gesture helped to shape my career. I can’t help myself. In fact, I am going to write tonight,’’ the winner of N1m cash prize said with a hint of humour. The filmmaker and a voting member of the Academy of Motion Picture Arts and Sciences in the United States, Femi Odugbemi commended the effort of organisers of the competition in rewarding true craftsmanship. “Right now, we are drowning in the sea of bad stories or badly told stories. So, those who have the talent and skills to create stories that inspire deserve to be recognised,’’ he said.

After a one year closure due to the COVID Pandemic, the Ebedi International Writers Residency in Iseyin, Oyo State of Nigeria has reopened with the arrival of four female writers at the Residency over the weekend. Drawn from Nigeria, Togo and the US, the ladies from Right to Left in the above picture are: the US based Olaoluwa Oni, Rachidatou Alfagani from Togo, Haneefah Abdulrahman and Hussaina Ahmed (both from Kaduna, Nigeria). The writers who will be in the Residency from 4 to 6 weeks will work on their individual writing projects and also mentor Iseyin students in the area of creative arts. The Ebedi Residency is a private initiative for creative Writers and Artists to complete their works in a conducive environment at no cost to the Writers. The Residency has hosted about 130 Writers from 10 different countries since it was established in 2010.

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Zero to 70 Million: The Story of MTN Nigeria

MTN Nigeria Executives

Yusuf Omotayo After impacting over 130million people spending over N18 Million on a series of CSR activities covering the six points of concern of the foundation, His Love Foundation (HLF), the charity arm of Redeemed Christian Church of God, has announced the launch of a new crowdfunding campaign. The aim is to raise and dispense funds in an honourable, transparent, sustainable and structured manner with a view to continue to deepen her initiatives, spread, and broaden the level of impacts

three years to expand access.

Community Reach

In January of 2001, the Nigerian Communications Commission conducted the Nigerian GSM auction. MTN paid $285m for one of four GSM licenses On May 16, 2001, the first mobile call from the MTN network in Nigeria was made making it also the first GSM call in the country. The historic event would go on to define a revolution in Nigeria’s mobile telephony sector. In January 2003, the then president, Olusegun Obasanjo commissioned the network’s digital microwave transmission backbone, the 3,400 Kilometre YhelloBahn. Following its launch in August 2001, full commercial operations began in Lagos, Abuja and Port Harcourt. Since then, it has steadily grown one village, one town, one city at a time reaching and connecting all Nigerians.

Central to MTN’s operation is the continuous project to reach more people. This reach however has moved from providing communications access to directly touching lives. At the moment, MTN has 47 project categories ranging from health to sport, education, and many more. The MTN Foundation began full operation in 2005 just a few years after the company was established and it has become an integral and recognisable part of its project. The foundation is managed by an independent board and it focuses on improving the quality of individual lives and the progress of communities. So far, the foundation has reached 850 active project sites spread across 446 local government areas in all 36 states of the federation and Abuja. This has reached 19 million Nigerians in 2,476 communities at a cost of N22.66 billion. Through the ‘What Can We Do Together’ initiative, MTN provided furniture to more than 200 schools; installed 50 bore holes and 40 transformers; upgraded 120 primary health care centres; and supported children in 120 primary schools and orphanages. Over 4,000 youths have been awarded scholarships while 2,000 participated in ICT and Business Skills training sessions. Ultimately, 40 emerging entrepreneurs have been awarded grants and equipment loans.

Connecting people

Public Sector Partnership

The Genesis

Since that first phone call was made, MTN has gone on to provide the opportunity for millions of Nigerians to connect and foster better relationships. Statistically, 20 million Nigerians live in areas where MTN is the sole provider of communication. With 70 million active subscribers and 32.6 million active data subscribers, MTN is the largest provider of communication services in Nigeria. And there is a reason for this. MTN has continued to prioritise penetration to people and places in Nigeria many don’t even know exist. These people rely on its network to connect with family and loved ones.

Infrastructure

MTN is able to provide call and data service to millions of Nigeria as a result of its rapid growth in infrastructure which in 20 years has become the largest in Africa. The company has built 15,552 2G sites, 16,600 3G sites, 10,058 4G sites, 818 rural telephony sites and 30,011.6Km of Fiber optics backbone. This digital penetration is being accelerated annually. Following the Nigerian government’s plan to increase broadband access from 45.09% to 90% between 2020-2025, MTN announced that it plans to invest N640 billion in the next

MTN has partnered with the public sector as an indirect way to reach out to the people. Through government ministries and agencies, the company has carried out interventions in the health education, drug, science and technology sectors, etc. Some of the partnerships have been with the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, the Federal and State Ministries of Health, the Federal Ministry of Education, the Federal Ministry of Communication and Digital Economy,

the Federal Ministry of Youths & Sports Development, the State Ministries of Science & Technology, the National Drug Law Enforcement Agency (NDLEA), the /BUJPOBM 6OJWFSTJUJFT $PNNJTTJPO r /BUJPOBM Drug Law Enforcement Agency (NDLEA), the Nigeria Centre for Disease Control, (NCDC), the National Primary Health Care Development Agency (NPHCDA), the National Universities Commission and the United Nations Office on Drugs and Crime (UNODC).

COVID-19 Response

Following the outbreak of the COVID-19 pandemic in 2020, the telecoms company went straight into action activating a N25 billion intervention plan to mitigate the spread of the virus, provide relief materials, access to quality information and support for businesses. N20.3 billion of the fund went to customers with over 4bn free sms sent in 3 months. Also, there were over 1.7m free money transfers by about 100,000 people using the MoMo Agent Network, over 3,000 TB free data used to access zero-rated health websites, daily free access to Ayoba messaging app and zero-rated access to educational websites for students and pupils N500 million worth of PPE and medical supplies from MTN Foundation went to frontline workers while there was also the provision of toll-free lines (3 months) to support consultations for high-risk patients and on-call doctors. MTN also provided a 350kva generator to the NCDC Abuja Isolation centre. The company donated N1 billion to the CACOVID fund and N10 million to the Lekki Foodbank. As part of its COVID-19 response, N500 million in airtime, devices, data, and analytics were provided to 36 state governments and FCT while N9.2 million worth of data and airtime was provided to the Lagos State Government. N3.6 million in data was also provided to the Federal Ministry Of Health.

Since that ﬁrst phone call was made, MTN has gone on to provide the opportunity for millions of Nigerians to connect and foster better relationships...with 70 million active subscribers and 32.6 million active data subscribers, MTN is the largest provider of communication services in Nigeria

Fintech

With 4.7 million active fintech users on the MTN platform, the company is the leading provider among other networks. The introduction of its mobile money (Momo) has also boosted financial penetration. Currently, there are 41.8 million active Momo users. This has improved financial inclusion and expansion to a lot of Nigerians.

Banking

As part of its contribution to Nigeria’s financial infrastructure, MTN provides network support to more than 50,000 POS and ATM machines. This support enables the provision of banking services to more people. MTN has enabled 4.3 billion rapid and expedited transactions via USSD and this number is expected to rise as more Nigerians embrace mobile banking.

Taxes and levies

Since it began operation in Nigeria, MTN has paid N2.29 trillion in taxes and levies to the federal government of Nigeria. It has also provided N2.81 trillion capital investment. As part of its tax-compliance stance, the company recently announced its plan to reconstruct the EnuguOnitsha Expressway. This was in response to the federal government’s call for an Infrastructure Tax Credit Scheme.”

Truly Nigerian

The company has over 1,800 workforces across the country with 99 percent of them being Nigerians. This has translated to the development of a global leadership pipeline with Nigerians serving in managerial roles in other countries like Liberia, Guinea Conakry, Cote d’Ivoire and Benin republic.

Awards

In 20 years. MTN has been recognised as one of the best companies in Nigeria. As recently as 2020, the company has been recognised as the Brand of the Year by marketing Edge, Most Responsive Organisation to the Covid-19 crisis at the Nigeria Risks Award and Employer of the year (platinum Category) by Investors in People Award. It was also recognised by the Nigerian website Neusroom.com as one of the 100 companies in the world that helped citizens get through the COVID pandemic.

20 Years and Beyond

In 20 years, MTN has risen to become the biggest telecommunications company in Nigeria by market share, subscribers, and reach. This is thanks to its focus on people and centring their needs to provide access to communications. It has also become one of the biggest investors in people, infrastructure, and the economy. And in demonstration of its continued commitment to Nigeria, MTN is now planning to build a flagship headquarters in Lagos.

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T H I S D AY ˾ ͯͱ˜ ͰͮͰͯ

Middlechase Delivers Fairﬁeld Apartment Project as Homeowners Take Possession To help bridge housing deficit in the nation, a leading real estate company, Middlechase Property Limited has allocated completed housing projects to fulfilled homeowners at their ongoing 600 unit flat development, Fairfield Apartments located at Abijo area of Lagos. Located at Abijo GRA along Lekki Epe Expressway, the highly subscribed development project includes several units of one, two and three-bedroom apartments in addition to penthouses. Fairfield Apartments consist of exciting features such as well-paved concrete roads, transformer, stand-by generator, water treatment plant among others. All these are in addition to entertainment and social options at strategic location within the project, with two contemporary restaurants, laundry area, and an all-day kids’ studio club. The latest allocation brings to 54 the total number of units that has been handed over to owners at the rapidly developing expansive project site which has been drawing the attention of discerning investors and

home owners along the Lekki-Epe Expressway real estate corridor. Speaking at a brief ceremony witnessed by award-winning actress, Sola Sobowale who is also one of the homeowners, Chudi Kalu, Chairman, Middlechase Property Limited expressed joy at the satisfaction on the faces of the proud homeowners. Kalu disclosed, “At Middlechase, our team has been at the vanguard of the real estate cashflow movement. We are committed to helping investors and potential homeowners to fully leverage every of our developments located in every part of Nigeria to build sustainable wealth. “We are happy to deliver on our promise of affordable real estate projects using the best quality building materials and working with experienced construction professionals and artisans,” he added. Also speaking, Sobowale who witnessed the groundbreaking ceremony of the project at inception disclosed her satisfaction in being among the proud home owners. She said, “I’m happy to be part

of this project and I pleased to come live on this piece of real estate. I congratulate

Middlechase for successfully executing this massive project. It started before our eyes and

I would say the quality of what I have seen today while I was conducted on tour is

very impressive. I share in the joy of other co-homeowners on this project like me.”

L-R: Mr Chudi Kalu, chairman Arkbridge Integrated Limited; Actress Madam Sola Sobowale, Middlechase Brand ambassador and Fairﬁeld Apartment homeowner; and Mrs Junadia Edim, Director of Administration at Middlechase at the allocation of Fairﬁeld Apartment housing units to homeowners by Middlechase Property Limited, recently in Lagos

Nigerian Navy, US, Embark on Community Exercise in Lagos Precious Ugwuzor The Nigerian Navy (NN) over the weekend embarked on a community exercise as part of its Corporate Social Responsibility (CSR). The CSR was done in partnership with crew of United States Navy Ship HERSHEL WOODY WILLIAMS’, who

recently visited Nigeria to strengthen bilateral relations between both nations, as well as to enhance maritime security. Aside the training and ship visit, several activities lined up included a friendly basketball competition between personnel of both countries where the Nigerian Navy defeated US Navy team with 51 points against 27 points at the end of

the 60 minutes match. For the collaborative community relations exercise, it was conducted at Lagos State Model Nursery and Primary School, Ajegunle. On behalf of the Flag Officer Commanding (FOC) Western Naval Command, Rear Johnson Gbassa, Command Project Officer, Captain Olumide Faleye welcomed the US Navy team

to Lagos State Model Nursery and Primary School, Ajegunle. He noted that the command has commenced renovation works as part of its corporate social responsibility in line with the Chief of the Naval Staff Strategic Directive 05 2021. “This school that we are in, is the second school that would be benefitting from such intervention this year by the

command,” he revealed. He added that all the activities are geared towards making learning and teaching more conducive. The Education Secretary, Ajeronmi Ifelodun Local Government lauded the Nigerian Navy for their contribution to facelift the school “We want to thank the

Nigerian Navy for giving back to the society and recognising and picking our school for this community service.” The US Navy team were happy because it was their first visit to Nigeria and they contributed their quota to humanity. The school children expressed gratitude as well, adding that they were happy their school experienced a facelift.

NNS Beecroft Rescues 12 Crew of Capsized Vessel at Lagos Harbour ˾ ÏËÜÍÒ ÙØÑÙÓØÑ ÐÙÜ ×ÓÝÝÓØÑ ÝËÓÖÙÜ Chiemelie Ezeobi Operatives of Nigerian Navy Ship (NNS) BEECROFT conducted a search and rescue operation that led to the rescue of 12 crew of a capsized fishing vessel named Lady Barbara at the entrance of the Lagos

Harbour. This is just as search is ongoing for the 13th sailor onboard the capsized vessel. The fishing vessel, which belonged to Seabless Fishing Company Limited, had put across a distress call to the base when they ran into trouble at sea. According to Commander,

NNS BEECROFT, Commodore Bashir Mohammed, in response to the distress call, the patrol team of the base in collaboration with some personnel of Nigerian Customs swung into action leading to the rescue of 12 out of the 13 crew onboard the vessel at the entrance to Lagos Harbour. Mohammed, in a signed

statement, confirmed that failure of the main engine of the fishing vessel and heavy waves led to the mishap. He added that the timely intervention of the base was responsible for saving the lives of the crew, adding that the Nigerian Navy in conjunction with the company and other

relevant agencies are conducting necessary investigations about the capsized vessel. The rescued crew has since been handed to over to the representative of SEABLESS Fishing Company Limited, Mr Affa Azeez, and are undergoing medical treatment while a search for the missing sailor is still ongoing.

Commodore Mohammed while commending the search and rescue team of the base reassured Nigerians of the Chief of Naval Staff’s commitment towards sustaining her constitutional roles which includes the safety and security of lives and property within Nigerian maritime environment.

Fond Memories as Pastor Kuteyi is Remembered It was a gathering packed full of emotions amid celebration recently when the children of the late Pastor Mrs. Josephine Oluwadamilola Kuteyi gathered friends, well wishers and members of the extended families to commemorate her demise 10 years ago. Emotions ran high at the event, which

held at Civic Centre on Lagos Island, as those who were close to the ingenious entrepreneur, a zealot for the Lord with a selfless personality reeled out what they knew about her. Mrs Kuteyi, who died July 29, 2011, while alive was popular for her generosity to

those that ever crossed her path just as her leadership role in church planting still resonates within RCCG where she was a pastor and the entire Christian community. On hand to welcome guests were the children she left behind including Saheed, Ganiu and his wife, and Rasaq.

Late Kuteyi

The Wardrobe Unveils Ade~Fashioned to-Fit Ugo Aliogo Leading fashion brand, The Wardrobe has unveiled an iconic African-centric fashion brand ‘Ade~ Fashioned to-Fit’ to solve the challenge faced by most African fashion enthusiasts with finding Africa fit sizes ready-to-wear garments. Speaking at the official

launch of the brand in Lagos, the Managing Director, The Wardrobe, Mrs. Adetowun Awofeso said Ade is a homegrown fashion brand powered by The Wardrobe Ultimate Concept Limited that seeks to clothe Nigerians and Africans, at home and in diasporas with high-quality ready-to-wear outfits that meet their tastes, African shape, and values.

She also noted that the focus of the brand is to give Nigerians and African their true African identity and pride. She explained that as a fashion business with many years of practice and a truly African business, the organisation has taken the responsibility of creating a home-grown fashion identity that defines, “our African true figure, fashion tastes, values,

and needs.” Awofeso remarked that Ade fashion brand prides itself in its vision which is to be the topmost African ready-to-wear fashion brand on the continent, with a global presence and mission to design, produce, and retail high-quality fashion items that fit the African body, values, and taste. She hinted that the proposition

of the brand is to ensure that every African has access to high-quality fashion items that fit them perfectly without needing any adjustments. She remarked that the target market are the middle income working class African women and men between 25 – 40 age grade as well as 40 - 60 age grade, noting that the outfits are for corporate and formal occasions.

According to Awofeso, “The COVID-19 lockdown had helped to expose Africans and the overdependence on everything foreign and revealed the almost loss of identity as Africans. “Having identified this problem of near loss of identity amongst Africans, there was the need for the ‘Ade’ brand to evolve and attempt to redeem the true African identity.

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T H I S D AY ˾ ͯͱ˜ ͰͮͰͯ

METRO

…Your city life in print

Six Years of Result Driven Governance Under Emmanuel Udom ˾ ÕáË ÌÙ× ÙØ ÞÒÏ ÚËÞÒ ÞÙ ÑÜÏËÞØÏÝÝ Daniel Orogun Giving his inaugural Address, on May 29, 2015, Governor Emmanuel said”I stand before you today not as a master but as a servant and not as a boss but as a co-labourer. I accept, with great humility and sense of responsibility, the mandate you have freely given to me to hold power in trust for you are your Governor. You have kept your part of the covenant and I intend to keep my part by executing the programmes I enunciated to you during my official declaration to run for the office of Governor. These include: … To transform the economy of our State via industrialization and sustain public-private sector initiative, thereby opening up opportunities for growth and improved living standards… To pursue the task of Rural Development and Integration with all vigour, bring the benefits and dividends of our democratic governance to every nook and cranny in the state, and provide basic amenities of life to all … To provide trade, commerce and tourism between Akwa Ibom and the rest of Nigeria, and in fact, the rest of the world.” Six years down the line, the Udom administration has achieved so much in the course of transforming the Land of Promise from a Civil Service State, to an industrialized state. In the concluding part of this article, I highlight the achievements of the Udom led administration in the areas of health, education and security among others. Industrialisation The most important the goal of the Emmanuel Udom administration is to aggressively industrialize the state and continue to attract foreign investors, ensuring that the environment is made favorable for investments. The goal is to make Akwa Ibom the industrial hub of Nigeria. The government has started begun the industrialization process and has already recorded so much success. While presenting the 2021 budget tagged the ‘Budget of Economic Reconstruction’, His Excellency stated that “It is our earnest belief that at the end of the budget year, the state will have moved very close to actualizing the dreams and aspirations of this administration, which is to transform this state from a ‘civil service’ state to an industrialized one” In line with its industrialization drive, some of its ongoing and already completed job providing projects include the following: Coconut Plantation and Refinery, Quality Ceramics, Eket International Market, Eket, Phase 1, Ibom Airlines, Uyo International Market, Oron International Market, Tropicana Shoprite Mall, Ibom Deep Sea Port, Ibom Industrial Park/Jetty, Plywood Manufacturing Factory, Power plant, Jetty, Refinery, Gas processing plant, Waste to Wealth Plant. Aviation Development Ibom Air currently has a fleet of seven bombardiers CRJ 900 aircraft, and currently covers 6 destinations (Uyo, Lagos, Abuja, Calabar, Port Harcourt and Enugu), and makes 22 flights daily. The airline is considering domestic expansion in its travel routes. It may soon add the newly inaugurated Bayelsa International Airport to its domestic route network after the Bayelsa state government approached the Government of Akwa Ibom over partnership possibilities. The choice of the airline to serve Bayelsa was predicated on Akwa Ibom’s proximity and the smooth relations between the states. Furthermore, Ibom Air will soon expand its operations into Gambia. Following his meeting with the Gambian High Commissioner to Nigeria, Mohamadou Musa Njie, Governor Udom stated as follows “We are actually planning a regional flight with Ibom Air, so we hope by next month we should take delivery of two brand new A220-300 series Airbuses, we want to use that for regional flights. I will get this to be discussed at the directors meeting of Ibom Air so that we can also consider Banjul”. In June 2021, the two new A220-300 series were added to the Ibom Air. While receiving the new aircrafts, Governor Udom stated that 10 Airbus A 220-300 series will be added to the fleet of Ibom Air before his tenure elapses in 2023. Human Capacity Development Revolution in the education sector forms the crux of the Akwa Ibom State Government’s focus. This revolution, best described as war in the education sector, comes with a physical

Governor Udom

revamp of infrastructure, retraining of teachers, employment of new ones and security of facilities. Governor Udom Emmanuel made this known on Saturday, January 2, 2021 at the Government House Banquet Hall, during a special solemn assembly to usher in the New Year 2021 and rededicate the state to God. He said “In 2021 we have declared war on education the same way we declared on healthcare in the state before Covid-19. We have a comprehensive education agenda… We’ve mapped out. We have an education think-tank. We’ve linked up with all the Akwa Ibom eggheads across the world and we meet with them on zoom; wherever you are, once we know you have something to contribute to the development of the state, education-wise, we contact you…We have been compiling and we are going to launch out aggressively. We will start with physical infrastructures of those schools…We will train the teachers; all the secondary schools in Uyo must be fenced round beginning from this January and we will provide security men in those schools to keep the facilities we buy in those schools. Let us correct this anomaly”. Health Governor Udom Emmanuel has left no stone unturned in the revamping of the health sector for effective healthcare delivery for the people of the state. Before now, a great number of hospitals in the state were in the state of ineffectiveness with decayed structures, insufficient medical equipments for. In other cases, some of these hospitals were secondary habitats for reptiles: Ituk Mbang General Hospital, Ikono General Hospital, e.t.c, are good examples . While the state government has intensified

efforts to establish new hospitals across the state, the already existing ones are receiving a facelift. For example, General Hospital, Etinan, has been reconstructed and equipped with top-notch medical equipment. Residents of Ikono can attest to the fact that the General Hospital, Ikono, has not just been reconstructed but now has state-of-the-art medical equipment installed in the hospital. To ensure the procured equipment are utilised to the fullest and manned properly, 20 Biomedical Engineers were trained for maintenance of equipment while they will train others in turn. While commissioning the remodeled and reconstructed General Hospital, Etinan, on September 23, 2017, and in appreciation of the feat recorded by Governor Udom Emmanuel in the health sector, the Vice President, Prof. Yemi Osinbajo stated thus: “This is an extremely useful project, it is the type of project, I believe touches the lives of the people directly”. Immanuel General Hospital, Eket, has also been remodeled and equipped. The hospital has been digitized to cater for healthcare challenges in line with the current times. It has been equipped with the most modern intensive care unit facilities. While commissioning the hospital, the Governor maintained that he was going to extend the same to Ikot Abasi and Ikot Ekpene General Hospitals Sports It came as no surprise to many when His Excellency was awarded as Sports Governor of the Year 2017 by the National Sports Award, which aims to appreciate, honour and reward outsatanding sports men and women who through their performance on the international stage,

The last six years of the present administration has been one in which the government has consistently delivered on the dividends of democracy

have won laurels and brought glory to Nigeria, as well as administrators, managers, and other stakeholders whose exceptional contributions have significantly advancde the cause of sports. In the same year, the State was voted as best in Sports infrastructure, best in grass root sports development and best in fans supportership. From the inception of the administration in 2015, it has been from one story of success to the other in the sports industry. Within few months of His Excellency’s administration, Akwa United won the FA Cup in 2015, a record in the 53 year old history of the prestigious tournament. The same feat was repeated in 2017. In that same year during the National Youth Sport Festival held in Kwara State, Akwa Ibom emerged second position. Security Section 14(2)(b) of the 1999 Constitution provides that the security and welfare of the people shall be the primary purpose of government. The Emmanuel Udom led administration has done so much to ensure a peaceful and secure state. It has attained the status of the most peaceful State in Nigeria. Nigeria Police Force ranked Akwa Ibom as the lowest in crime index in Nigeria for the year 2017. In 2020, His Excellency donated 30 new patrol trucks to security agencies. Furthermore, the administration has carried out sensitization Campaign against Child Abuse, Child Trafficking, Child Abandonment and Baby Factory in the State. It has also granted amnesty to numerous militants in the state who are undergoing rehabilitation. The superb manner in which the administration handled the security challenges arising from the #EndSARS# protest is noteworthy. His Excellency is aware of the fact that no meaningful development that take place in an environment of insecurity, chaos and anarchy. Hence, all hands are on deck to ensure there is peace and security in the state. In conclusion, the last six years of the present administration has been one in which the government has consistently delivered on the dividends of democracy. Just as path of the just is as the shining light, that shines more and more unto the perfect day , the indigenes of Akwa Ibom state can look forward to a better and brighter future in the last two years of Governor Udom’s administration.

T H I S D AY ˾ ͯͱ˜ ͰͮͰͯ

POLSCOPE

áÓÞÒ ÎÎã ÎÓàáÜÓ ÏÎÎã˛ÙÎÓàáÜÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×˜ ͸΀͸ͽ ͻ͸; ΁ͻͽ;

Why Does 2023 Seem So Far Away? W

illiam Shakespeare had many years ago, in his typical philosophical ruses declared that “time is very slow for those who wait, very fast for those who are scared, very long for those who lament, very short for those who celebrate. But for those who love, time is eternal”. The truth in the declaration was re-echoed by Henry Van Dyke, who may not have had Nigeria or Nigerians in mind when he echoed the declaration, but it is quaintly true to the Nigerian situation of today. Not a few Nigerians are eager to see to the end of the President Mohammadu Buhari administration believing, rightly or wrongly, that the end of the present administration will be the beginning of great relief. They just cannot wait. And that is why 2023 is appearing like eternity to many Nigerians. It is not for nothing. Even if all other defects of this administration are ignored and tolerated, the twin evil of insecurity and collapsed economy is making Nigerians to fast and pray so the Buhari administration will roll away as quickly as possible. The two issues where this government has performed abysmally low are those that concern everyone: the rich and the poor. Yes, the rich may among us can hire a truck load of security men to accompany them on thehighways, but we have seen “big men” being attacked, killed and even burnt along with their security aides. Ask the family of late Ahmed Gulak. Few years back, even the former Chief of Defence Staff, Air Marshal Alex Barde was hacked to death on his way from his farm, in Nasarawa State. An army General, Maj Gen Hassan Ahmed, mid last month, was shot and killed between Kogi and Abuja, while his younger sister and driver (who were with him in the car) were kidnapped and had to pay huge ransom before they were recently released. The Borno State governor, Professor Babagana Zulum, with all the array of security personnel around a typical governor, has been twice lucky in escaping the bullets of terrorists who obviously want him dead. If fire can burn the tortoise with the iron coat, you can thus imagine what it would do to the hen with a feathery gown. Indeed, the stories of insecurity in Nigeria have become so staple and common place that they hardly shock us anymore. What may appear strange is travelling from one part of the country to another and not come under attack of Bandits, terrorists, armed robbers, cattle rustlers, Fulani herdsmen, or even “unknown gunmen’. One must be doubly lucky to escape falling into the hands of these marauders, many of whom have taken permanent residency in our hitherto dear country. The Katsina State governor, Alhaji Aminu Masari, last week, had lamented that bandits have literally seized ten of his local government areas, where they (bandits and other criminal elements) attack innocent persons everyday without let or hindrance, unchecked. He was appealing to the Chief of Army Staff who visited him to “do something”! That is Mr President’s home state! Kaduna State and many other states in the North West like Zamfara and even Niger have become large and vast killing fields, as the volume of innocent bloods shed on a daily basis are enough to make River Niger look like Red sea. As I write this, many Islamic school children from Niger State who were kidnapped over two months ago are still in captivity. Kidnappers have demanded N100 million as ransom from their parents who are practically sub-peasants. Even when the parents rallied round, raised some monies, and sent to the kidnappers, the man who took the ransom to them, was himself kidnapped. How bad can it get!

Canticles….

Nigerian Government Versus Resident Doctors

Ngige

NARD President

am so ashamed of this country. Things are just so upside down. I cannot understand how this became our lot as a people.

What are you talking about? I need you to sound patriotic. (mimicking)_ I need shu to shand pachiochic. Patriotic my foot! The Nigerian state should be patriotic to its citizenry first. And then in turn, the citizens can become patriotic. But a nation that is always at war with its health workers and academic workers does not have the moral rectitude to preach about patriotism.

Buhari

Farmers cannot go to their farms. In the same Niger State some communities contribute money regularly and pay same to bandits so they can be permitted to go to their farms. These stories look like far-fetched tales of what could happen in some far away countries. Not Nigeria! But here we are: everybody is scared and angry. I have watched very heart-breaking viral videos of kidnapped school children being maximally tortured by their captors, as the children wail to high heavens promising to get their mothers to pay the ransom, amidst receiving harsh whips on their sweaty bare bodies from the animalistic captors. And you ask: why is 2023 so far away? No normal government can accept what we are going through as a nation as the normal. Never! A Post 2023 Nigeria will definitely have no place for these criminals. The Attorney General of the Federation and Minister of Justice, Abubakar Malami has refused to prosecute the over 400 captured Boko Haram members and other bandits. But he is swift in pressing charges against Nnamdi Kanu and Sunday Igboho et al. Any better example of double standard? Many top government officials or their family members have been kidnapped and released after paying ransom. So audacious have the kidnappers become that they even direct families of kidnapped victims to pay the ransoms through the banks. How daring! Perhaps it is the silence of the government that is even more worrisome. Maybe the government does not have or know what else to say. Not after it had severally boasted of having “technically defeated” Boko Haram or bandits. The silence, in a way advertises the helplessness of government. Seven months after the Service Chiefs have been changed, we have not experienced the much expected relief from insecurity. More school children have been attacked and kidnapped in the last four months than in the last five years. And there is practically no end in sight, despite the visible efforts government is making to knock the criminals out. On the economic flank, Nigerians are generally groaning. Even the rich are also crying, let alone the poor. More than ever before, poverty is overwhelming many more Nigerians. Matters are not helped by the import-dependent

economy the government is running. The unfavourable balance of trade is causing the local currency—the Naira, to continually lose value. Those managing the economy seem to have come to their wit’s end. The exchange rate, especially of the United States Dollars, has become the major determinant of the value of our Naira. The cost of everything, yes, everything, has sharply hit the roof top. Even the plantain and coco-yam farmers, plus vegetable farmers now talk about “dollars and exchange rate”. It is distressing to see how the managers of the economy led us to this sorry mess of a United States Dollars exchanging for N510 or more. How can such an economy ever be healthy, when we literally import everything, including our own God-given petroleum products? Food items are no longer affordable. Nigerians are groaning. Perhaps more than ever before, late Umaru Dikko’s reference to our kids not yet scavenging from waste bins, is nigh unto us. Little wonder all kinds of criminal activities have been devised and being driven with courage and confidence. Those in power may not know, as their usually huge budgets can absorb the inflationary spike. They are fed by government; transported by government; medically taken care of by government, some even get clothed by government. All such ones do not know what we go through being ordinary citizens. They do not know how sharp and piercing the bite of inflation is. It is such an irony that the more money the country is making, the poorer the people get. Today, the Nigerian Customs is raking in far more money than it ever did in history, more Nigerians are paying taxes. More taxes are being paid, more is being paid for electricity, more is being paid for petrol and diesel plus kerosene, more is being paid for air travels, more is being paid for medicare….. Yet, the impact of government on the people is getting weaker and fainter by the day. What an economic mystery! With the remaining 21 months to go, many Nigerians seem to be beseeching God to reduce the number of hours per day to just ten so 2023 will quickly come, as the countdown to 2023 seems to have begun. By then, Nigerians should know a new dawn, where they expect to heave the long sigh of relief, provided someone who is passionate for development and has the capacity to decisively tackle our issues as a people, comes on board. Will our Godot come in 2023?

I hope you are not referring to the present strike action called by the National Association of Resident Doctors (NARD)? That is precisely what I am talking about, amidst other cases. But the whole world knows that these so-called Doctors are just being difficult and fastidious. Have you taken time to see that most of the things they are quarrelling about are responsibilities of various state governments and not the federal government? Why should the doctors not be discerning enough to separate the issues relating to state governments and federal government? Look, look, before you begin to sound more Catholic than the Pope, please explain to me why the issues agreed to last April will not be implemented by the federal government? And did I hear you say“so-called doctors”? Do you know how long it takes to train as a doctor let alone attain residency? You think it is beans? They deserve our maximum respect. Look, if the federal government is not comfortable with any of the demands of the Doctors, it should have had the courage and honesty to iron them out at the point of negotiation. But it is a demonstration of bad faith for government to agree, and nudge the doctors to resume work, only for it to renege on the issues so agreed upon. What is that? A government of deceit? Was government made to sign those Memoranda of Action under duress? Having signed, it is incumbent on government to keep its own part of the bargain. Period! But don’t you know these doctors took an oath to save lives? It is called the Hippocratic oath. How can they be so heartless as to abandon patients under their care to die in the name of strike? Where is the humanity doctors are known for? You are talking rubbish. Look, the Hippocratic Oath is not an oath to poverty. Doctors are human beings too. They have

families. They deserve good and comfortable lives. Not after they have spent over a decade studying to become specialists and then they are shabbily treated by government. It is such annoying arguments like this your own that has propelled the massive brain drain we have suffered in this country. In America, even a newly registered Nurse earns far more than a specialist Doctor in Nigeria. And we are here quarrelling over N5000 hazard allowance. Do you know that during the COVID period, Nigeria lost 20 medical doctors? And more than one year after, we are still quibbling over Insurance scheme for doctors. Is that fair? Those medical doctors who died have families. Nobody is talking about how to support or sustain livelihood in those families. Let me ask you: how much is it really that the federal government cannot provide for the upkeep, welfare and wellbeing of medical doctors in this country? is it not a shame that almost every quarter we are always coming back to the same issues? How can a doctor be earning less than N200,000, whereas a school cert holder who is a councilor in Orile Local Government Area earns three times that amount, aside other unofficial “kicks”. What kind of society is that? And you want the doctors to be happy? But you know that… (snaps) But you know that what? There is nobody that does not need the doctor. If the Big men in government can hop into private jets and go for prized medical treatment abroad, some good thoughts should be spared for those who can hardly buy a packet of Panadol for their headache in Nigeria. Healthcare is one socio-metric measure of a good and responsible government. The Buhari administration cannot be failing on all fronts. It should wean itself of this fixation of making life difficult for the average Nigerian. It is bad enough that hunger is biting, yet it is doubly disappointing if when people fall sick, government is not available to help. Did you not hear that even Cholera has killed 816 people in this country since January? How can government allow doctors to go on strike at a time there is a third wave of the Corona Virus, the Delta variant? Where is the doctrine of Expediency? Look, go and tell that Labour Minister, Dr Chris Ngige, that as a medical doctor himself, he should always show professional solidarity with those in practice. That is the only way he can get their co-operation. To ignore them and dare them to do their worst or invoke the so-called ‘No-work-No-pay policy’ is like applying a medication that will kill both the disease and the patient. Let him be wise, and save us the collective embarrassment.

T H I S D AY ˾ ˜ 13, 2021

BUSINESS/MONEYGUIDE

SEC Expresses Readiness to Collaborate with RIMAN to Deepen Capital Market Darasimi Adebisi The Securities and Exchange Commission (SEC) has expressed its readiness to collaborate with the Risk Management Association of Nigeria (RIMAN) in its quest to make more products available in the capital market as well as deepen the market The Director General of the SEC, Mr. Lamido Yuguda stated this in a goodwill message on RIMAN 20th International Conference held virtually. Yuguda disclosed that from the outbreak of the Covid-19 pandemic to the subsequent lock down, the commission had worked with Capital Market Operators and other industry stakeholders to ensure that the market experiences minimal destruction. According to him, “We have supported and acquired the emergence of various technological driven innovations around market operations and products some of which include Fintech, Digital Assets and Crowd funding. “To support this, we developed a regulatory framework to galvanize these activities while

focusing on managing the risk inherent in the products and activities in-line with our mandate of market development and investor protection. “In supporting these innovations, we hope to build a better market, attract more investors, and reduce the demographic of the average age that presently invest in our market. We also hope to include millions whom were excluded from the capital market by making it easier for them to gain access.” “To achieve this, there is a need to collaborate with an organization such as yours and we hereby invite you to contribute in whatever way you can in building the Nigerian Capital Market. “We invite you to do more in building the risk management capacity in the capital market, to conduct studies in risk capital market processes and products ad contribute your opinions and recommendations to our exposed rules, ”he added He said that with increased membership the association has been more feasible in capacity building in the area

of risk management and in organizing excellent events such as this adding that “since the SEC’s registration as institutional member of the association, the Commission has endured several benefits that cut across capacity building and the opportunity to share ideas. We will sustain this relationship and continue to contribute in any way we can to help the organization succeed and develop risk management practice in Nigeria”. He described the theme for this year’s conference, “Risk Management in a Digital Era,” as apt, and could not have been discussed at a more appropriate time as the corona virus pandemic has increased the need for the use of technology in the corporate world. He assured that as the regulator of a dynamic capital market, the SEC would see this technological transformation as an opportunity to change the way it works and the way it performs its regulatory functions. He therefore, pledged the willingness of the commission to partner with RIMAN in its activities towards developing risk management practice in Nigeria.

UBN to Train Youths on AI, Robotics Technology Dike Onwuamaeze Union Bank Nigeria Plc has announced the call for entries into its “2021 Next Robotics Legend Programme,” which is part of the bank’s initiatives under its Edu360 umbrella meant to enhance digital learning and building the capacity of young Nigerian startups and inventors in Artificial Intelligence (AI) and Robotics as part of its Corporate Social Responsibility. Speaking on the initiative, Union Bank’s Chief Brand and Marketing Officer, Ms. Ogochukwu Ekezie-Ekaidem, said: “Coming off a successful initial edition, Edu360 is excited to unveil the second edition of The Next Robotics Legend 2.0

programme. We are passionate about creating a sustainable future in Nigeria and aim to do this through initiatives that align with the Bank’s focus on education. By training young people in AI and Robotics, we can equip them to create innovative solutions that solve some of the biggest challenges we face as a nation, which is why we are excited to see what this year’s participants will do with the learnings from the programme.” The entry period for the program, she said, would run from August 9 to August 23, 2021, through video submissions that would be accepted via Union Bank’s website from parents and guardians of eligible students between the ages of 11 and 16. “Thereafter, 40 students with

the most creative and passionate entries will be selected to participate in the two-week boot camp, during which they will receive a tablet with preloaded information; a MekaMon, and access to seasoned tutors for the programme duration, ”she said. The bank explained that the programme, which was introduced in 2020, was designed to, “identify and train young inventors in Artificial Intelligence (AI) and Robotics, and was developed in partnership with Awarri, a pan-African artificial technology company owned by Mr. Silas Adekunle, a top international robotics engineer who is renowned for creating the world’s first intelligent gaming robot.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR)

Ukpeh: Photography Business Will be Worth $150bn by 2026 The Managing Director of NYV Lens Limited, Mr Alvin Ukpeh has stated that yhe estimated value of the photography industry set at nearly $80 billion in 2017 is expected to reach $150 billion by 2026. In a statement, he added that though the prospects for the industry is looking up, the appetite for photography has come as a mixed bag. “One the one hand, globalization and improvement in the quality of smart phone cameras and the growing obsession with the sharing of social media and digital photos means that more people demand for better quality photography than previously seen, as a variety of factors have come to influence consumers’ taste. “On the other hand, there

is an opportunity for various persons to venture into the photography industry with little or no experience. Likewise in Nigeria, the face of the industry has changed drastically as more creative photographers entered the scene. Despite the prevailing COVID-19 restrictions to public events, the desire for better imagery doesn’t seem to be waning anytime soon, “he said. An indigenous photography outfit, NYV Lens akso announced its plan for the Nigerian arts and entertainment industry. Ukpeh said he is set to hold his first solo exhibition in Lagos adding that, “The event is taking place in Victoria Island, Lagos, on Saturday, 14th – Sunday 15th August, 2021. “We started NYV Lens eight years ago through my love for

arts, which eventually developed into a passion for photography. While most art shows in Nigeria focus primarily on paintings, drawings and sculptures, Alvin saw the need to fill the gap in the exhibition sector of Nigeria’s photography culture, showcasing his work with the hope to inspire other photographers to expand into these more creative areas. “The 2-day exhibition is a visual representation themed around Solitude, which captures the unique identity and value proposition of the exhibitor. “NYV Lens continuous to evolve, bringing an innovative feel that will redefine photography business in Nigeria with a commitment to delivering first class services tailored to the entertainment and corporate world, ”he said.

Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͳ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $73.15 a barrel on Thursday, compared with $75.29 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ ͯͱ˜ ͰͮͰͯ

Stock Market Maintains Positive Trend, Appreciates By N480.8bn in Three Days Darasimi Adebisi The Nigerian equities market sustained its positive trend yesterday amid price appreciation in large-mid capitalised stocks extending gains to three days The stock prices appreciation in the likes of GTCO Plc, Dangote Cement Plc, among others impacted on the Nigerian Exchange Limited (NGX) market capitalisation, gaining N480.8 billion in three days.

At the close of business, the market capitalisation went up by N21.67billion to close at N20.575trillion as against N20.553 trillion it opened for trading. THISDAY had report that the stock market on Wednesday appreciated by N317.5billion and it also gained N141.6 billion on Tuesday. The N21.67 billion gained in yesterday’s trading was buoyed by investors’ buy-sentiment in GTCO, Zenith Bank Plc and

P R I C E S MAIN BOARD

F O R DEALS

Dangote cement. Consequently, the NGX All Share Index (ASI) gained 0.11 per cent yesterday to close at 39,490.06 basis points from 39,448.46 basis points the previous day. The stock market upturn brings its performance in Month-to-Date increased to 2.5 per cent, while Year-to-Date loss moderated to -1.9per cent. On sectors, the Insurance (-1.8 per cent), Banking (-0.2 per cent) and Oil & Gas (-0.2 per

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

cent) indices recorded declines, the Industrial Goods (+0.4 per cent) index gained, while the Consumer goods index closed flat. As measured by market breadth, market sentiment was positive, as eight stocks gained, relative to 24 losers. Honey well Flour Mills plc recorded the highest price gain of 10per cent, to close at N1.87 per share. Wema bank plc followed with a gain 3.95 per cent to close

T R A D E D MAIN BOARD

A S

at N0.79, while Flour Mills gained 3.96 per cent to close at N2.29, per share. AIICO Insurance appreciated by 2.11 per cent to close at N0.97, while GTCO appreciated by 1.07 per cent to close at N28.40 kobo, per share. Tripple G top the losers table to close at 0.88 after shedding 9.28 Regal Insurance was also down by 8.51 per cent to close at 0.43 kobo, while Prestige Assurance lost 8.33per cent to close at 0.44,

O F

per share. Japaul gold shed 7.48 per cent to close at 0.47 kobo, while NEM Insurance depreciated by 6.34 per cent to close at 1.92 kobo, respectively. The market turnover closes positive as volume moved up by 214.30per cent as against 61.77per cent downtick recorded in the previous session. Honey flour mills was the most actively traded stock with about 384million units of shares worth about N654million.

1 2 / 0 8 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ FRIDAY, AUGUST 13, 2021

Friday, August 13, 2021

Thisday Afrinvest 40 Index rose by 8bps The Thisday Afrinvest 40 Index inched higher by 8bps to

THISDAY AFRINVEST 40 INDEX

ƐĞƩůĞ Ăƚ ϭ͕ϲϳϱ͘Ϭϭ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ GTCO ;нϭ͘ϭйͿ͕ ZENITH ;нϬ͘ϰйͿ͕ ĂŶĚ DANGCEM ;нϬ͘ϳйͿ͘ dŚĞƐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϮϮ͘Ϭй͘

Buying Interest in Industrial Sector Drives Mild Gains...

THISDAY AFRINVEST 40

1,675.01

0.08%

14.1%

67.5%

15.0%

3.5%

750.00

0.0%

29.3%

-12.0%

12.3%

4.4%

68.00

0.0%

10.5%

-12.1%

19.1%

11.2%

32.7x

6.2x

28.40

1.1%

8.7%

-12.2%

26.6%

4.3%

4.1x

1.0x

10.6%

24.4% 30.5%

ASI up 0.1% zĞƐƚĞƌĚĂǇ͕

3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC

ŝŶ

DANGCEM

;нϬ͘ϳйͿ͕

HONYFLOUR ;нϭϬ͘ϬйͿ͕ ĂŶĚ UNILEVER ;нϬ͘ϳйͿ ďƵŽǇĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůů-Share

Price Change Index to Date

Ticker

1 Airtel Africa PLC 2 BUA Cement Plc

ŐĂŝŶƐ

Price Previous Current Change Price YTD Weighting Change

Current Price

5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC

ROE

ROA

P/E

P/BV

5.2x

Divindend Earnings Yield Yield

0.7x

5.6%

ot Applicable

2.1%

14.6% 3.1%

24.30

0.4%

7.0%

-2.0%

23.1%

2.9%

3.3x

0.7x

12.3%

241.60

0.7%

6.3%

-1.3%

44.7%

17.5%

12.1x

5.2x

6.7%

8.2%

172.10

0.0%

5.2%

1.3%

143.0%

12.4%

13.8x

17.5x

6.1%

7.2%

1,540.00

0.0%

4.3%

2.3%

143.5%

17.1%

31.2x

53.4x

4.3%

3.2%

21.80

0.0%

3.6%

9.9%

7.1%

9.8x

0.9x

4.6%

10.2%

16.4%

1.4%

2.8x

0.4x

8.8%

36.2%

2.2x

0.4x

6.9%

45.4% 29.6%

index rose ďǇ ϭϭďƉƐ to ϯϵ͕ϰϵϬ͘Ϭϲ ƉŽŝŶƚƐ͕ ŽŶƐĞƋƵĞŶƚůǇ͕

8 Lafarge Africa PLC 9 Access Bank PLC

9.10

-1.1%

3.2%

7.7%

zd ůŽƐƐ ŝŵƉƌŽǀĞĚ ƚŽ -ϭ͘ϵй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ

10 United Bank for Africa PLC 11 FBN Holdings Plc

7.50

-0.7%

2.5%

-13.3%

7.25

-0.7%

2.6%

1.4%

10.6%

1.0%

3.4x

0.3x

6.2%

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

57.00

0.0%

2.2%

1.8%

5.6%

2.2%

47.8x

2.7x

1.7%

2.1%

41.00

0.0%

2.3%

8.6%

20.7%

2.9%

7.3x

1.4x

8.4%

13.7%

-5.9%

-2.5%

increased ďǇ േϮϭ͘ϳďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ strengthened ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ Ϯϭϰ͘ϯй ĂŶĚ ϵ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϱϳϬ͘Ϯŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϯďŶ͘ The ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ HONYFLOUR ;ϯϴϰ͘ϭŵ ƵŶŝƚƐͿ͕ VITAFOAM ;Ϯϭ͘ϰŵ ƵŶŝƚƐͿ͕ ĂŶĚ FCMB ;ϭϯ͘ϲŵ ƵŶŝƚƐͿ ǁŚŝůĞ HONYFLOUR ;േϲϱϰ͘ϮŵͿ͕ VITAFOAM ;േϯϯϭ͘ϮŵͿ͕ ĂŶĚ ZENITH ;േϮϲϵ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŶĞŐͲ aƟve as 4 indices decůined͕ ϭ index gained ǁhiůe the AFR/ d ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů ŐŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ͕ ƵƉ Ϭ͘ϰй͕ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

19 Fidelity Bank PLC 20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

26 Presco PLC 27 Unilever Nigeria PLC 28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 Total Nigeria PLC

DANGCEM ;нϬ͘ϳйͿ͘ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬͲ

34 Julius Berger Nigeria PLC 35 Wema Bank PLC

ing indices ůĞĚ ƚŚĞ ůŽƐĞƌƐ͕ ĚŽǁŶ ϭ͘ϴй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞͲ

36 Union Bank of Nigeria PLC 37 Oando PLC

ůǇ͕ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ on NEM (-ϲ͘ϯйͿ͕ REGALINS (-ϴ͘ϱйͿ͕ ETI (-ϭ͘ϳйͿ ĂŶĚ FCMB (-ϭ͘ϯйͿ͘ /Ŷ ƚŚĞ ƐĂŵĞ ǀĞŝŶ͕ ƚŚĞ Kŝů Θ

ƌĞƐƉĞĐƟǀĞůǇ͕ ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ in OANDO (-

ϭ͘ϮйͿ and DANGSUGAR (-Ϯ͘ϴйͿ͘

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϴ stocks advanced

-16.0%

15.0%

770.00

0.0%

2.1%

91.4%

3.1%

1.7%

-100.0%

7.4%

3.2%

T ic k er

0.9x

-12.8%

0.7x

5.5%

20.4x

0.6x

5.3%

4.9%

110.00

0.0%

1.0%

20.9%

37.4%

23.6%

8.1x

2.8x

6.7%

12.3%

2.45

0.0%

0.7%

-2.8%

11.4%

1.1%

2.4x

0.3x

9.0%

41.0%

5.70

-1.7%

0.7%

-5.0%

1.5%

0.1%

19.0x

0.2x

17.50

-2.8%

0.6%

-0.6%

25.5%

12.6%

7.2x

1.7x

8.6%

13.9%

3.10

-1.3%

0.5%

-6.9%

1.54

-3.1%

0.3%

-24.5%

8.9%

0.8%

3.9x

0.3x

3.2%

14.65

0.0%

0.4%

1.0%

22.1%

6.0%

14.6x

2.9x

2.8%

6.8%

0.93

-3.1%

0.4%

3.3%

-1.3%

-0.3%

0.6x

1.1%

-2.3%

72.60

0.0%

0.3%

2.3%

17.9%

7.3%

2.3x

2.8%

14.40

0.7%

0.2%

3.6%

-6.2%

-4.1%

6.00

0.0%

0.2%

13.2%

6.92

-0.4%

0.3%

46.9%

35.5%

4.2%

31.70

0.0%

0.4%

66.8%

-17.8%

-9.0%

6.25

0.0%

0.2%

6.8%

24.7%

7.5%

3.1x

0.7x

0.97

2.1%

0.2%

-14.2%

20.5%

3.3%

2.9x

0.2x

203.20

0.0%

0.3%

56.3%

2.0%

15.5%

25.00

0.0%

0.2%

41.9%

18.3%

2.4%

5.0x

0.8x

1.6%

19.9%

14.5%

22.3%

3.9%

0.2%

0.0%

-1.2%

0.2%

33.2%

5.3%

4.8%

13.8x

1.3x

5.3x

1.7x

10.1%

8.8%

11.7%

0.7%

4.5x

0.5x

5.1%

7.5%

0.9%

5.8x

0.6x

4.8%

33.2%

14.5%

2.6%

2.1x

0.3x

5.4x

0.7x

0.0%

0.1%

0.0%

-38.7%

-9.5%

0.0%

0.1%

-4.4%

12.8%

8.7%

3.92

0.0%

8.9%

2.1x

T o p 10 T r a d e s b y V o l u m e T ic k er

Vo lum e

P ric e C hg %

1.87

10.0%

H ON YF LOUR

WEM A B A N K

0.79

3.9%

VIT A F OA M

21.4

0.0%

29.90

3.1%

FCM B

13.6

-1.3%

A IIC O

0.97

2.1%

J A P A ULGOLD

12.9

-7.8%

GT C O

28.40

1.1%

ST ER LN B A N K

12.0

-3.1%

UN ILEVER

14.40

0.7%

Z EN IT H B A N K

11.1

0.4%

241.60

0.7%

UB A

9.4

-0.7%

24.30

0.4%

FB NH

8.2

-0.7%

0.0%

F ID ELIT YB K

8.2

0.0%

T R A N SC OR P

8.1

-3.1%

UA C N

10.00

18.4%

0.7x

H ON YF LOUR

3.02

17.2%

-21.2% 2.0%

P ric e C hg %

UN H OM ES

32.5%

47.1%

P ric e

Z EN IT H B A N K

18.9%

33.9%

14.5%

62.50

7.3%

-20.5%

1.0x

6.5x

52.95

25.8%

-4.8%

-100.0%

T o p 10 G a i n e r s

D A N GC EM

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĂŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ Ϭ͘ϰǆ ĨƌŽŵ ϭ͘ϰǆ

-16.0%

4.93

F LOUR M ILL

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ

1.4% 1.3%

0.79

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ ϮϯďƉƐ ĂŶĚ ϮďƉƐ

0.0% 3.1%

0.0%

23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

Bearish Sector Performance

5.00 29.90

384.1

10.0%

ǁŚŝůĞ ϮϮ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ HONYFLOUR ;нϭϬ͘ϬйͿ͕ t D Ͳ T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

BANK ;нϯ͘ϵйͿ͕ ĂŶĚ FLOURMILL ;нϯ͘ϭйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

T R IP P LEG

0.88

-9.3%

H ON YF LOUR

654.2

10.0%

R EGA LIN S

0.43

-8.5%

VIT A F OA M

331.2

0.0%

Z EN IT H B A N K

269.8

0.4% 0.7%

T ic k er

TRIPPLEG (-ϵ͘ϯйͿ͕ REGALINS (-ϴ͘ϱйͿ͕ ĂŶĚ PRESTIGE (ϴ͘ϯйͿ ůĞĚ ůŽƐĞƌƐ͘ /Ŷ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ŽĨ ƚŚĞ ǁĞĞŬ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽ ďĞ ďĞĂƌŝƐŚ͕ ĚƌŝǀĞŶ by ǁĞĂŬĞŶĞĚ ŝŶǀĞƐƚŽƌƐΖ ƐĞŶƟŵĞŶƚ ĂŶĚ ƉƌŽĮƚ-ƚĂŬŝŶŐ͘

Afrinvest West Africa Limited

P R EST IGE

0.44

-8.3%

J A P A ULGOLD

0.47

-7.8%

D A N GC EM

118.3

N EM

1.92

-6.3%

M TNN

106.9

0.0%

C H IP LC

0.53

-5.4%

76.4

0.0%

F ID SON

6.10

-3.9%

UB A

70.8

-0.7%

ST ER LN B A N K

1.54

-3.1%

GT C O

68.5

1.1%

T R A N SC OR P

0.93

-3.1%

FB NH

59.7

-0.7%

D A N GSUGA R

17.50

-2.8%

A C C ESS

53.3

-1.1%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

FRIDAY AUGUST 13, 2021 • T H I S DAY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 11Aug-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 156.74 158.15 -3.16% Afrinvest Plutus Fund 100.00 100.00 4.71% Nigeria International Debt Fund 313.30 313.30 -22.34% Afrinvest Dollar Fund 110.85 110.85 -1.10% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 7.69% AIICO Balanced Fund 3.26 3.43 -3.92% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.69 20.28 8.54% ARM Discovery Balanced Fund 431.40 444.40 7.75% ARM Ethical Fund 38.24 39.39 13.43% ARM Eurobond Fund ($) 1.09 1.09 -1.06% ARM Fixed Income Fund 0.97 0.97 -7.73% ARM Money Market Fund 1.00 1.00 7.93% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.64 105.64 3.86% AVA GAM Fixed Income Naira Fund 1,016.57 1,016.57 1.66% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 134.56 135.50 6.64% AXA Mansard Money Market Fund 1.00 1.00 9.50% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.00 2.00 -11.27% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.12 2.16 -7.92% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 2.30% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.05% Paramount Equity Fund 16.58 16.89 3.69% Women's Investment Fund 136.65 138.23 2.68% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) N/A N/A CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 7.52% Coronation Balanced Fund 1.20 1.21 -0.39% Coronation Fixed Income Fund 1.37 1.37 -13.32% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 8.43% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.10% EDC Nigeria Fixed Income Fund 1,139.15 1,154.61 -1.09% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,400.75 1,400.75 11.33% FBN Balanced Fund 192.03 193.40 2.32% FBN Halal Fund 111.77 111.77 7.79% FBN Money Market Fund 100.00 100.00 9.56% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.59 158.58

126.59 3.52% 160.81 4.90% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.96 1.60 1.18

Offer Price Yield / T-Rtn 1.00 5.61% 3.96 2.40% 1.63 4.78% 1.18 4.14% coralfunds@fsdhgroup.com

Bid Price 3,716.33 3,358.16 100.00

Offer Price 3,769.80 3,358.16 100.00

Yield / T-Rtn -0.77% 2.50% 3.70%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.89% Vantage Balanced Fund 2.71 2.78 -4.94% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 152.16 152.43 -2.15% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.72% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 0.84% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.42 1.44 4.17% Lotus Halal Fixed Income Fund 1,143.02 1,143.02 5.28% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.49 11.55 9.78% Meristem Money Market Fund 10.00 10.00 7.64% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.66 1.69 7.17% PACAM Fixed Income Fund 11.51 11.56 -5.11% PACAM Money Market Fund 10.00 10.00 5.75% PACAM Equity Fund 1.64 1.65 3.53% PACAM EuroBond Fund 112.69 114.49 2.56% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.42 134.00 11.21% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 10.08% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,278.01 3,313.00 2.07% Stanbic IBTC Bond Fund 232.17 232.17 3.26% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% Stanbic IBTC Guaranteed Investment Fund 305.59 305.59 3.71% Stanbic IBTC Iman Fund 224.99 228.33 3.09% Stanbic IBTC Money Market Fund 100.00 100.00 8.16% Stanbic IBTC Nigerian Equity Fund 10,362.44 10,513.17 -1.24% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.34% Stanbic IBTC Shariah Fixed Income Fund 115.21 115.21 3.72% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 102.91 102.91 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.30 1.32 1.79% United Capital Bond Fund 1.91 1.91 4.06% United Capital Equity Fund 0.87 0.89 9.35% United Capital Money Market Fund 1.00 1.00 9.85% United Capital Eurobond Fund 119.55 119.55 4.46% United Capital Wealth for Women Fund 1.06 1.07 3.70% United capital Sukuk Fund 1.06 1.06 5.90% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.93 13.04 8.96% Zenith Ethical Fund 14.26 14.39 16.74% Zenith Income Fund 24.27 24.27 1.20% Zenith Money Market Fund 1.00 1.00 6.32%

REITS NAV Per Share

Yield / T-Rtn

125.18 51.80

10.79% 2.67%

Bid Price

Offer Price

Yield / T-Rtn

13.44

13.54

1.68%

122.58 97.09 17.88 18.16

125.64 99.22 17.98 18.26

1.95% -2.14%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.93 5.90 17.55 1.00 19.25 153.63

3.97 5.98 17.65 1.00 19.45 155.63

3.95% 3.73% 8.12% 6.31% -6.15% -29.96%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

FRIDAY AUGUST 13, 2021 •T H I S D AY

FRIDAY AUGUST 13, 2021 ˾ T H I S D AY

NEWS

NDLEA Intercepts Bandits, Seizes Heavy Weapons in Katsina, Benue Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA), have arrested three suspected armed bandits while on an attack mission in Katsina State. Three AK 47 rifles, among other dangerous items were recovered from the suspected bandits, whose names were given as Adamu Shehu, Tukur Mohammed and Ibrahim Suleiman.

A statement on Thursday by spokesman of the NDLEA, Femi Babafemi, also disclosed that a heavy weapon manufacturer, Celestine Chidiebere Christian, has been arrested with a high calibre G3 rifle along with 78 rounds of life ammunition (RLA) of 7.62mm calibre and five empty shells of same in Benue while trying to move the heavy weapon and ammunition to Jos, Plateau State. He said both arrests and seizures in Katsina and Benue

States were made at NDLEA checkpoints in the two states during narcotic officers’ stop and search of vehicles for illicit drugs. Speaking when the Benue State command was handing over the high calibre G3 rifle and the suspects to the

NDLEA national headquarters in Abuja on Thursday, Chairman/Chief Executive of the agency, Brig. Gen. Buba Marwa (Retd), noted that the NDLEA wouldcontinue to support efforts by other security agencies especially, the armed forces to restore law

and order across the country. He said: “For us at NDLEA, we’ll continue to do our best with our highly dedicated officers and men to cut off accessibility to illicit drugs by criminal gangs by blocking the trafficking of these psychoactive and psychotropic

substances. “In doing this, we’ll not shy away from complementing the efforts of other security agencies especially, our armed forces in our collective bid to restore security and maintain law and order in all parts of the country.”

Don’t Blame Me for Your Political Misfortune, Keyamo Fires Back at Oshiomhole Says he’s not against APC’s CECPC Onyebuchi Ezigbo in Abuja The Minister of State for Labour and Employment Mr. Festus Keyamo (SAN) has said that former Governor of Edo state, Adams Oshiomhole should not blame him for his political travails. He said that he has nothing against the leadership of the All Progressives Congress (APC) led by Yobe State Governor, Alhaji Mai-Mala Buni. According to Keyamo, he only gave honest and sincere advice to the National Chairman of the CECPC and three other highly placed persons in the APC in the light of the judgment of the Supreme Court. While reacting to a statement credited to a Peoples Democratic

Party chieftain, Chukwuemeka Eze linking Keyamo to a plot that led to his removal from office, Oshiomhole had said in a statement by his media aide, Victor Oshioke, that Festus Keyamo was alleged to be in the forefront of the plot to remove him and indeed provided legal support through his personal legal assistants who went to court and argued on behalf of those that filed cases for his removal as national chairman of the APC. According to the statement, the Minister’s advice warning the APC’s CECPC led by Governor Buni to step aside based on the recent pronouncement of the Supreme Court may be because he failed to secure the expected benefits from his ouster.

ARMS CONTROL…

Chief of the Naval Staﬀ, Vice Admiral Awwal Gambo(left), presenting a souvenir to the Coordinator, National Centre for the Control of Small Arms and Light Weapons, Major General Abba Mohammed Dikko (rtd), during Dikko’s visit to the Naval Headquarters, Abuja...yesterday

Police: We Parade Suspects to Educate Public James Sowole in Akure The Commissioner of Police for the Ondo State Command, Mr. Bolaji Salami, yesterday justified the parade of suspects before the media, saying it is meant to enlighten members of the public. Salami stated this while answering questions, during the parade of 12 suspects arrested by the men of the command for various offences. The commissioner said the suspects, were arrested for alleged

robbery, burglary, vandalism of government properties and raping. According to the commissioner, the suspects were being paraded to educate members of the public, who thought some things cannot happen. He said members of the public, will not know what happened, if the suspects were just arrested and charged to court and convicted. Salami said:”For us all the suspects we paraded, had been investigated. They have

confessed to committing the crime and many of them, were even caught in the act. “ It is like the nollywood film, some people do not believe that such things can happen but when they watch the parade of some suspects caught in the act, they then believe that is can happen and they know how to be security conscious.” Giving the breakdown of the arrested suspects, Salami said five persons, were arrested for alleged robbery, two for rape,

four for shop breaking while one person, was arrested for stealing electric cable. He explained that four of the five robbery suspects, specialised in robbing filling stations and Point Of Sale (POS) operators. Salami said during one of the operations on January 26, 2021, a four-man gang comprising Deji Ajayi 22, Babajide Adewole’ 22, Dare Adeoye 24 and Banjo Adu’ 27, robbed a POS operator, Solomon Ehingbe, at Owe Akala area of Akure.

in the state capital, Birnin-Kebbi, Dr. Aminu Bunza, confirmed to newsmen that no fewer than 146 persons had died from the outbreak of the disease. He said, “2,208 affected patients had been hospitalised across 20 LGAs of the state. Out of the 21 local government areas, 20 have now been affected by the contagious disease. “Tests carried out showed

that 2,208 persons have been tested in those areas, while 146 persons have so far died since the outbreak of the disease.” One of the top officials of the state Ministry of Health on Thursday told THISDAY that about 206 persons had so far died from the disease since the first set of deaths were recorded in Diri Daji, a community in Sakaba local government area of

the state and had since spread to 20 local government areas of the state. “The figure cuts across all sexes and no specific age bracket, as all ages are affected,” he said. A community leader in Sakaba, one of the affected local government areas of the state said,many of the communities in the area were badly affected by the disease outbreak.

Nigeria Has Frustrated Younger Generation, Say Yoruba Elders Cholera Kills 206 in Kebbi, Scores Hospitalised

Kemi Olaitan in Ibadan

The Yoruba Council of Elders (YCE) yesterday lamented what the younger generation in the country is passing through,saying they have become frustrated because the present state of the country doesn’t give them any hope for the future. This is just as it said what the present generation could tolerate and be hopeful for, the younger generation cannot afford to wait because they think the country is wasting them. The Secretary-General of the Council, Dr. Kunle Olajide, while speaking with journalists at the end of its meeting held in Ibadan, noted that YCE was not opposed to the reaction of the younger generation, but want them to moderate in their reaction

adding that, “we don’t want to sacrifice them because the power of government is enormous and we can see what is happening now.” “So whatever we can do we are doing it behind the scenes to ensure the freedom of Sunday Igboho in Benin Republic”, he said. The communique of the meeting, which was read by Hon. Niyi Ajibulu, the Secretary of the Ekiti State chapter of YCE, read: “For sustaining the nation thus far, especially the elders for surviving the scourge, the ailment and the Clement climate and the covid-19 pandemic, the council views with great concern the unending state of insecurity that has assumed unimaginable dimension in recent times.

Akpabio Urges Communities to Protect Govt Projects Olusegun Samuel in Yenagoa The Minister of Niger Delta Affairs, Senator Godswill Akpabio, has urged the communities in the Niger Delta region to be dedicated to the protection and co-maintenance of the projects cited in their locality, so that government would continue to bring more development to the people. He made this appeal during

the inauguration/handing over of the projects constructed by the ministry in the areas. Akpabio, who inaugurated two projects including youth corp members quarters and viewing centre at Koroma Tai, Rivers State and a rehabilitated block of five classrooms at Tombia, in Bayelsa State, on Wednesday, said the projects were some of the interventions by the ministry in the region.

Ismail Adebayo in Birnin-Kebbi Over 206 persons have reportedly died from cholera outbreak in 20 local government areas of Kebbi State. Also, about 2,831 persons had been hospitalised as a result of the outbreak of the disease in the state. The Chief Medical Director of Sir Yahaya Memorial Hospital

Assisted by Military Operations, 11 Abducted People Escape from Captivity in Kaduna John Shiklam in Kaduna Eleven people abducted by bandits in Kaduna State have escaped from their captors following the ongoing military operations against criminal elements terrorising the state.

The victims, according to a statement on Thursday by the Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan, escaped from bandits’ camps in the outskirts of Sabon Birni town, Igabi Local Government Area

of the state. Aruwan said, the ongoing security operations dislodged many of the bandits’ camps, leaving them in disarray and enabling the escape of the hostages in their camps. The statement said those, who escaped were abducted

in Dumbin Rauga in Zaria LGA and along the KadunaZaria highway. “Careful checks revealed that the 11 hostages are a mix of those kidnapped from Dumbin Rauga, Zaria LGA and also along the KadunaZaria highway.

Nigeria High Commission in London Closed over COVID-19 Scare Michael Olugbode in Abuja

Nigeria High Commission in London has been shut down due to COVID-19 scare. The High Commission, according to a statement on yesterday, will remain closed for10 days. The statement explained that the closure became imperative

after two staff tested positive to COVID-19. The statement read: “This afternoon the Head of Immigration Section and two other officials went for a meeting at the Home Office. “At the entrance, COVID-19 test was administered on them and one of them tested positive to COVID-19. The affected officer

immediately isolated while the other officials, who tested negative will also isolate for the next 10 days.” It further revealed that: “In response to this challenge, the Mission embarked on testing all officials of the Mission, after which another official of the Mission tested positive. “In line with COVID-19

regulation and the need to adhere to the rules and regulation of the host country, the Mission will close down for the next 10 days, in order to observe the mandatory isolation of those who were in contact with the affected officials.” The High Commission said it regrets any inconvenience that this may have caused and solicited the cooperation.

FRIDAY AUGUST 13, 2021 ˾ T H I S D AY

NEWS XTRA

DHQ: Boko Haram, ISWAP Fighters Depleted Vows to contain security challenges

Kingsley Nwezeh in Abuja The Defence Headquarters (DHQ) said yesterday that fighters of terror groups, Boko Haram and the Islamic State for West African Province (ISWAP) were depleted following intensified kinetic operations launched by the military. It said the Armed Forces of Nigeria (AFN) was committed to containing security challenges in the country. Speaking in the same vein

in Kaduna, the Chief of Army Staff, Lt. Gen Faruk Yahaya, charged General Officers Commanding (GOCs) and brigade commanders to end terrorism and armed banditary. He said the Nigerian Army was being repositioned to defeat adversaries threatening the nation’s security. The military high command made the declarations as troops killed 27 Insurgents, arrested 51 while 1000 surrendered to troops in the past two weeks even as

it recovered a cache of arms. At a media briefing in Abuja, the Acting Director Defence Media Operations (DDMO), Brigadier-General Bernard Onyeuko, said the armed forces remained committed to fight criminalities until peace is restored in Nigeria. “The Armed Forces of Nigeria and other security

agencies have and will continued to remain committed to fight all forms of criminality until sustainable peace is achieved in our dear country. He said various kinetic operations were carried out to deny terrorists, armed bandits and other criminal elements freedom of action as well as frustrate movement of arms

and other illegal items in all theatres of operations leading to the depletion of their fighting force. He said between July 29 and August 12, Operation Hadin Kai intensified counterinsurgency operations in the North-east which culminated in the surrender of 1000 insurgents and their

families “The intensity of these operations has yielded tremendous results as evidenced in the number of casualties and massive surrender of terrorists in Buni Yari, Gorgore, Baga and Monguno Towns as well as Maiduguri - Baga Road, Maiduguri - Damboa Road and Bula Yobe - Darel Jamel Road.

TETFund Invests N2.5tn in Varsities, Others in 10yrs Kuni Tyessi in Abuja The federal government through Tertiary Education Trust Fund (TETFund) has injected more than N2.5 trillion in the development

CHANGE OF NAME I formally known and address as ACHA CHRISTABEL OREVA, now wish to be known and address as OLUWAYEMI ACHA CHRISTABEL OREVA. All former documents remain valid. The general public take note. I, formerly known and addressed as OLUWAJOMILOJU ADESHOGA now wish to be known and addressed as OLUWAJOMILOJU MOYONINUOLUWA ADESHOGA. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as ADENUGA BABATUNDE ADEYEMI, now wish to be known and address as ADENUGA TUNDE YEMI. All former documents remain valid. Please public take note. I, formerly known and addressed as AJOKE BOROKINI, now wish to be known and address as AJOKE BOROKINI SALAUDEEN. All former documents remain valid. Please public take note. I formerly known and addressed as IRIFO BLESSING A. now wished to be known and addressed as AKPANA BLESSING. All documents bearing IRIFO BLESSINGS A. remain valid, the general public should please take note.

I, formerly known and addressed as MR ADAM IBRAHIM SOPU, now wish to be known and address as MR FRANCIS STEPHEN SOPU. All former documents remain valid. Please public take note. I, formerly known and addressed as AGBENIYI RADEKE BOSEDE, now wish to be known and address as OGUNYOMI RADEKE AGBENIYI. All former documents remain valid. Please public take note. I formerly known and addressed as MISS IDONGESIT MATTHEW ETIM now wish to be known and addressed as MRS IDONGESIT BLESSING OVUNDA. All former documents remain valid. The general public should please take note. I, formerly known and addressed as MISS BLESSING KOKO BESSONG now wishes to be known and addressed as MRS BLESSING KOKO TONY OSAM. All documents remain valid. General public, please take note.

of infrastructure and staff development in public universities, polytechnics and colleges of education in Nigeria in the last 10 years of establishment of the fund. Chairman, Board of Trustees of TETFund, Kashim Ibrahim-Imam, who made this known yesterday, also disclosed that the agency is targeting more than N500 billion education tax collection by 2023. He said that for this year alone, TETFund budgeted the sum of N300 billion for over 226 higher institutions across the country in 2021. Ibrahim-Imam, who spoke at the 3rd edition of Tax Payers Forum with the theme: ‘TETFund Intervention: Catalyst for Transforming Tertiary Education in Nigeria,” promised to ensure that intervention to the beneficiary institutions be increased by 50 per cent next year and 100 per cent in two years.

NUJ CONFERENCE…

L-R: Representative of the National President, Nigerian Union of Journalists (NUJ), Mr. Edward Ogude; Chairman, 2021 Rivers State Election Committee, Mr. Victor Tew; and Chairman of the Occasion, Mr. Emmanuel Ogbonda, during the 7th triennial conference organised by NUJ, Rivers State Council in Port Harcourt…yesterday

Obiano, Duke, Moghalu, Murray-Bruce Extol Anyaoku over Service to Humanity David-Chyddy Eleke in Awka Anambra State Governor, Mr. Willie Obiano, former Governor of Cross River State, Mr. Donald Duke, and former Presidential Candidate, Professor Kingsley Moghalu and Senator Ben Murray-Bruce have extolled former Secretary General of the Commonwealth, Chief Emeka Anyaoku. The quartet were among

dignitaries who graced the 10th Chief Emeka Anyaoku Lecture Series, held at Prof Dora Akunyili Women Development Centre, Awka, Anambra State, yesterday. In their separate remarks during the occasion, which had the theme; “Leadership and Good Governance in Nigeria,” the dignitaries praised Anyaoku for his contributions to humanity, describing him as

a glowing light in the country. Obiano, in his welcome remark said: “Not only have we come under the shadow of the greatness of one of our icons; but we have also come under the powerful influence of the ideals and philosophies that formed the foundations of his entire life’s work and remarkable career, that changed the interface between nation states.

“This event could not have come at a better time. Anambra is on the brink of change. A serious political whirlwind is blowing across Anambra State at the moment. I have no doubt that a lecture on Leadership and Good Governance will help to remind Ndi Anambra that their number one consideration should always be about which party and candidate would give us good governance!

Onwuamadike popularly known as Evans, challenging the judgement of Justice Hadizat Rabiu-Shagari of the Federal High Court in Lagos.

trucks and converted same to their own. But Justice Rabiu-Shagari in his judgement delivered on April 19, 2019, dismissed

judgement. Delivering the judgment on the appeal, Justice Joseph Ikyegh (presiding) held that there was a search warrant issued and

held that Section 153 of Administration of Criminal Justice of Nigeria 2015 permits the police to retain proceeds of crime until the case is disposed.

UN: Investments in Youth Education, Alleged Kidnapper, Evans, Loses Appeal over Seized Trucks Evans had through his lawyer, Evans’ suit for lacking in merit. executed in line with Section Wale Igbintade Health Vital for Mr. Olukoya Ogungbeje, in suit Dissatisfied, he, through his 144 of the Administration of The Court of Appeal, Lagos number: FHC/L/CS/1515/17, lawyer, Ogungbeje, approached Criminal Justice Act of Nigeria, Demographic Division, yesterday dismissed an accused the Inspector-General the Appeal Court in an appeal 2015, empowering the police appeal filed by alleged kidnap of Police (IG) and four others number: CA/L/1105/2018, and to recover the trucks. Dividends The appellate court further kingpin, Chukwudumeme of unlawfully seizing his 25 urged the court to set aside the Ugo Aliogo The United Nations Resident and Humanitarian Coordinator for Nigeria, Mr. Edward Kallon, has stated that strategic investments in youth education, health, security, employment, empowerment, effective civil participation would be vital for demographic dividends. Kallon, who disclosed this yesterday in Lagos during the commemoration of International Youth Day as part of events to mark the 60th anniversary of the Nigerian Institute of International Affairs (NIIA), noted that the quality of investments made in the youths would determine the trajectory of development and how the society is envisioned in many years to come. He also noted that Nigeria youths are known globally as pacesetters, highly skilled, educated, innovative, and entrepreneurial. The UN Chief revealed that Nigeria is one of the leading destinations for technology startup investments, adding that Fintech, e-commerce, and the digital economy are all driven by the youths.

French Investors Eye Cross River for Potatoes, Bamboo Cultivation Bassey Inyang in Calabar French investors, Yann Fortunato of Industriel Sylviculteur, and the President, Links 4 Value, Estelle Mougeot, have described Cross River State as fertile ground for the cultivation of bamboo and potatoes in commercial quantity. Speaking during a

presentation at the Governor’s Office in Calabar, Fortunato said their interest in the state stems from the availability of bamboos in all parts of the state. He also described the temperate climate conditions of the Obudu Cattle Ranch as perfect for commercial cultivation of potatoes. According to Fortunato,

the collaboration between the Cross River State Government and France will develop the value chain for Irish potatoes and bamboo. The collaboration, he said, would lead to the establishment of a seed cultivation and multiplication factory to improve output for export. On her part, Mougeot

described bamboo as “green steel” capable of boosting the economy of the state, and cited Southern France as a veritable example of a bamboo-driven economy. He said apart from helping in the fight against climate change, bamboo is used for so many things, including making of chairs and tables.

Osun Assembly Passes Law to Regulate Animal Grazing, Violence Yinka Kolawole in Osogbo The Osun State House of Assembly yesterday passed a bill to regulate animal grazing and the establishments of cattle ranches and other related matters. The House also passed into law the Violence Against Persons (Prohibition) Bill 2021. The Speaker, of the House of Assembly, RT. Hon. Timothy

Owoeye, at plenary noted that the bill passed into law would prevent the destruction of farms and crops by open rearing and grazing of livestock. Owoeye added that the bill would also prevent killings, sexual molestation, protect the environment from degradation and pollution caused by open rearing and grazing of livestock. He held that no person or group of persons should rear,

herd, or graze any livestock in any part of the state except within permitted ranches once the legistlation was passed into law. He said any herdsman or group of herdsman who graze herd or rear cattle or livestock outside permitted ranches after the commencement of this bill should be guilty of an offence. “Any person or group who contravenes the provisions of

subsections (1) and (2) of this section shall be guilty of an offence and shall be liable to a terms of imprisonment of not less than 3 years without the option of fine as well as forfeiture of the herds of Cattle or livestock under his or her control to the state government. “A minor is prohibited from grazing, rearing or herding of livestock except under the supervision of an adult.

FRIDAY AUGUST 13, 2021 ˾ T H I S D AY

NEWSEXTRA

Okorocha, Wife Appeal Court Ruling on Forfeiture of Properties Amby Uneze in Owerri Former Imo State Governor, Senator Rochas Okorocha and wife Nneoma Nkechi Okorocha dissatisfied with the judgement of the state High court, Owerri presided over by Justice Fred Njemanze, yesterday filed an appeal at the appellate court at the Owerri division contesting the judgment of the trial court.

In the appeal, the Okorochas asked the Appeal Court to set aside the entire decision of the lower court as well as an order dismissing the suit No: How/191/2021 in its entirety, arguing that the lower court erred in law by not considering the argument of the appellants. Justice Fred Njemanze of the Owerri High Court had on Monday ordered the final

and absolute forfeiture of Royal Palm Springs Hotel and other properties said to belong to Senator Rochas Okorocha and other members of his family. The forfeited properties are contained in pages 226 to 272 of the Imo Government white paper report by a Judicial Commission of Enquiry on Recovery of Lands and other related matters.

Court Jails AEDC Worker for Unlawful Disconnection in Kogi Ibrahim Oyewale inLokoja A magistrate Court sitting in Lokoja, Kogi State, has sentenced a Staff of Abuja Electricity Distribution Company (AEDC), Mr. James Olayemi, to six months imprisonment with an option of Fine N50,000 for unlawful disconnection of electricity supply to a customer’s house in Lokoja, the state capital. The Chief Magistrate, Mr. Tanko

Muhammed, also ordered the reconnection of electricity supply to the compound of Mr. Dennis Osawota with immediate effect. The Complainant, Mr. Dennis Osawota, who is a retired top Management Staff of National Inland Waterways Authority (NIWA), dragged Olayemi, the marketing officer and the Regional Manager, Mr. Lamidi Obadaki, to court over the damages done to his property and unlawful

disconnection of electricity supply to his house even after he had paid N370,000 for February bill. The duo had allegedly committed offences contrary to Regulations 5 and 11 of the Nigerian Electricity Regulatory Commission Connection And Disconnection Procedures for Electricity Services 2007 and punishable under Section 94 of electric power sector reform (EPSR) Act 2005.

Oyetola Promises 30% Youth Representation in Govt Yinka Kolawole in Osogbo The Osun State Governor, Adegboyega Oyetola, yesterday assured the state a greater youths involvement and better representation in governance with a promise that youths will occupy about

30 percent of his cabinet if re-elected. Thousands of youths in the state yesterday marched to pay a ‘thank you visit’ to the governor in commemoration of 2021 edition of the International Youth Day. Oyetola, while receiving

the Osun youths at his office after the 20-kilometre march, expressed delight in the youths’ reciprocal gestures, adding that his administration prioritisation of the concerns for the youths is rooted in his belief in the future of the state.

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Remember Who You Are – 2 By: Spahic Omer/IslamiCitA

(Continued from last week) This article is about man and how his life is torn between remembrance and forgetfulness. The article shows that man’s primordial origins were in Heaven and were pure. His task on earth is merely to remember who he is, and to live accordingly, while constantly fending off the forces of evil - and of forgetfulness .

Man and Forgetfulness According to the Qur’anic message, there are two types of forgetfulness: normal and anomalous. The former is in small and mundane matters. It is inescapable and, therefore, inconsequential. It is harmless. No human being, including the prophets, is exempted from this type of forgetfulness. Prophet Musa, for example, at one point said to Khidr: “Rebuke me not for forgetting” (al-Kahf, 73). The Prophet (PBUH) has been commanded thus: “And if Satan should cause you to forget, then do not remain after the reminder with the wrongdoing people” (al-An’am, 68). Satan as well was given a license to freely operate in the domains of this type. Four times in the Qur’an is forgetfulness related to Satan as its source and also cause. In addition, the Prophet (PBUH) said that Allah pardons what people from his community (ummah) do as a result of sheer mistakes and forgetfulness, and under force or duress (Sunan Ibn Majah). While believers have been instructed to supplicate thus: “Our Lord, do not impose blame upon us if we have forgotten or erred” (al-Baqarah, 286). It is human, so to speak, and unavoidable to be from time to time afflicted by such forgetfulness. That is why the word “man, or human being” in Arabic is insan. It is derived from the word nisyan, which means “forgetfulness.”

The anomalous forgetfulness

type

However, the second, or anomalous, type of forgetfulness is very serious and affects the most significant facets of life. It is acquired and imposed. It is perilous and hence, blameworthy. This forgetfulness can be either independent or an extension of the former. Man is not inherently deficient in this respect. Nevertheless, due to the first type, and due to his other general weaknesses, man must be constantly on guard. If not, forgetfulness can easily morph into carelessness, and carelessness into heedlessness and folly as the main causes of spiritual laxity and even non-belief. It is right there that Satan schemes to assault man and divest him of all of his meaningful capacities. Satan wants to undermine and impoverish man, and to make him forget who he is. As a poisoned chalice, he instead wishes to present man with a new paradigm with reference to understanding his past and charting his future. Once consented, man becomes detached both from Heaven and his pure self. His point of reference, inevitably, then comes to be his disordered and confused self (ego) and, of course, Satan. As a proverb goes: “Know who you are before you are told who you should be.” Needless to say that the conflicts between forgetfulness and remembrance, and between heedlessness and mindfulness, are the conflicts between good and evil, knowledge and ignorance, and between the truth and falsehood. Man by no means should put out of his mind, even briefly, who he is, who created him and why, what his existential mission is, and what and where his ultimate destination is. The truths about these questions are close to him. Yet, they are inside him. They are him. All the confrontations between good and evil in life center on man. They all want him: the former for his uplifting, the

latter for his lowering and annihilation. The spiritual wars are won or lost depending on whether and how much man remembers and stays faithful to himself, and vice versa. The Prophets as remembrancers and the revelations as reminders Thus, it is no wonder why Allah’s revelations are called dhikr (remembrance and reminders), and why the prophets were instructed to perform tadhkir (to remind, call to mind and awaken). The Qur’an says: “So remind, (O Muhammad); you are only a reminder (a remembrancer); you are not over them a controller (a watcher)” (al-Ghashiyah, 21-22). Allah moreover commands those who believe to remember Him with much remembrance (al-Ahzab, 41). He also says: “Therefore remember Me; I will remember you. And be grateful to Me and do not deny Me” (al-Baqarah, 152). Indeed, the best way for people not to forget themselves is to remember Allah: who He is and what their relationship with Him ought to be. Allah tends to chastise those who forget Him by making them forget themselves (alHashr, 19). Such is the pain of forgetfulness, being forgetful, and being forgotten. Observing the commandments of Allah and spurning His prohibitions signify the opening of portals to remembrance and the shutting of those that lead to forgetfulness. A person is bound to find himself only in worshiping his Creator and in serving His truth. By the same token, he is bound to forget and lose himself by focusing exclusively on himself and his vain desires. Goodness works like a boomerang. It must be let go before it recoils upon its originator. This is why the dreadful destinies of people on the Day of Judgment will be tied to their detrimental forgetfulness while in this world. They will be told to the effect that because they forgot, they will be forgotten. They will never have the pleasure of experiencing the beauty of knowing and remembering. One of the most excruciating aspects of Hell (Jahannam) is that people will be dumped into it in a state of oblivion and naught. They will be totally forgotten, abandoned, and out of sight. When Maryam (Mary), the mother of Prophet ‘Isa (Jesus), was tried like no other woman before and after her, she initially wished for herself the most extreme scenario. She said: “Oh, I wish I had died before this and was in oblivion, forgotten” (Maryam, 23). Allah will say to the Hell-bound multitudes: “Thus did Our signs come to you, and you forgot them; and thus will you this Day be forgotten” (Ta Ha, 126). It is obvious that in Arabic, the verb “to forget” (nasiya) assumed some wider and rather impactful connotations. It furthermore means “to renounce” and “to abandon”.

The Existential Benchmark It follows that all the initiatives and signs (ayat) of Allah, both created and revealed, aim but to awaken and enlighten mankind. As if each and every dimension resonates with a single message for man: “Remember who you are.” Man should respond by accepting and following the message, and by translating that same spirit into the realm of his cultural and civilizational undertakings. They all should as much reverberate as facilitate man’s remembrance and should aid him in battling the scourges of forgetfulness and heedlessness. Hence, a cultural and civilizational accomplishment of man is worthy only if it is dhikr (remembrance and reminding) oriented, and vice versa. The same applies to good – or bad – systems of life, sociocultural norms, art, architecture, literature, fashion, amusement, friends, etc. The sole benchmark is how dedicated and sincere all of them are in exuding the life-force of the mantra: “Remember who you are.” Concluded

FRIDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

Luk Who’s Back at the Bridge! Chelsea reunite with Romelu Lukaku in a £98m deal Chelsea yesterday completed the return of Romelu Lukaku from Inter Milan in a £97.5m deal. The 28-year-old Belgian returned to Stamford Bridge on a five-year deal, having left the Blues to join Everton for £28m in 2014. The fee is just short of the British transfer record of £100m paid by Manchester City for Jack Grealish. Lukaku landed at Biggin Hill Airport on Wednesday evening ahead of his move back to Stamford Bridge, having passed the main part of his medical in Milan on Monday. "I came here as a kid who had a lot to learn, now I'm coming back with a lot of experience and more mature," Lukaku said yesterday. "I have supported Chelsea as a kid and now to be back and try to help them win more titles is an amazing feeling." More money has now been spent on Lukaku than any other player in history with clubs paying out a combined figure of about £290m in transfer fees for him. Two of the top five fees paid for a player in British football history have now been for Lukaku. Belgium's all-time top goalscorer is also the most

expensive player ever sold by a Serie A club, having become the third most expensive buy in Italian history when he joined Inter in the summer of 2019 from Manchester United for £74m. European champions Chelsea finished fourth in the Premier League last season, scoring 58 goals - which was only the eighth-highest total in the division. German striker Timo Werner, who signed for a reported fee of about £48m in June 2020, contributed just six in 35 league appearances. Chelsea Director, Marina Granovskaia, said, in Lukaku, they have signed "quite simply one of the world's best strikers and goalscorers". "We are absolutely delighted to be bringing him back to the club he loves, and are excited to be adding his talent to our Champions League-winning squad," she said. Lukaku, who helped Inter to the Italian Serie A title last season, said the chance to return "comes at the right time". 'The way the club is going fits my ambitions perfectly at 28 and just coming off winning Serie A," he added. "Hopefully we can have a lot of success together." Despite saying he was

happy to stay with the Italian champions, Lukaku reversed his stance earlier this month and told Inter that he wanted to join Chelsea if the right offer

was received. In a short statement confirming the frontman's departure, Inter thanked Lukaku for his two seasons of service and wished

him "all the best in his future challenges". His arrival at Stamford Bridge could prompt the exit of other strikers with Roma and

Arsenal interested in 23-year-old England international Tammy Abraham and out-of-favour Michy Batshuayi linked with a move to Turkey.

HiFL2021:UAMTillers,Unilorin Warriors through to Q’final The last four teams that would play in the quarter-finals of this year’s Higher Institutions Football League (HiFL) have emerged. Winner of the maiden edition of the league, UAM Tillers defeated the ABU Nobles in both legs to qualify on a 4-2 goals aggregate. The Tillers needed a 93rd minute goal from Joseph Clement to seal the win as a second goal from the Nobles in Markurdi would have push the game into an extra time. In Ilorin, Unilorin Warriors wrapped their qualification to the quarter finals when they defeated KSU Steelers by a lone goal scored by Fashanu Michael in the 78th minute. An extra-time was almost looming at the centre before Fashanu, who also scored the equalizer in Kogi, capitalized on a counter-attack following KSU Steelers failed attempt at goal. In the Oriental Derby game between UNN Lions and the IAUE Minders in Enugu ended 1-0 in favour of the Lions. The Minders who were playing away put up a strong resistance but could not foil the Lions attack which resulted into a goal scored by Ifeanyi Alex in the 60th minute. In Lagos, the UNILAG Marines qualified with a 3-0 aggregate win over the FUTA Tigers. In his reaction, Chief Strategy Officer at Pace Sports, Mr Goodness Onyejiaku acknowledged the support of sponsors and partners that have continued to give Nigerian youths greater opportunities to excel in both academics and other recreational activities. “For instance, most players always look forward to becoming the StanbicIBTC Man-of-the-Match. Other sponsors like Nivea Men, Minimie and Bold also regularly provide good incentives that

have served as motivations for all the teams that are participating in the league. Generally, we have enjoyed an atmosphere of games played in a very friendly manner with fantastic support from the school authorities. We hope to maintain this spirit of sportsmanship as long as we can,” Onyejiaku said. Meanwhile, in the quarterfinals, UNILAG Marines will square-up against the AAUA Luminaries from the Adekunle Ajasin University, Akungba while UNIBEN Royals would attempt to escape the roars of UNN Lions as both teams look forward to qualifying for the HiFL Super Four for the first time. Highest scoring team in the round of 16, UNIMAID Desert Warriors will attempt to oust the UAM Tillers from playing in the Super Four for the first time since 2018 while the North Central derby will see Unilorin Warriors tackle FUTMINNA Transformers.

Romelu Lukaku displaying his new Chelsea jersey after completing the transfer from Inter Milan to the London club... yesterday

Super Eagles Drop Two Spots in FIFA Ranking Olawale Ajimotokan Super Eagles failure to beat Indomitable Lions of Cameroon and Mexico in the last friendly window has pushed Nigeria down to 34th spot in the August FIFA ranking released yesterday. Eagles are now fifth in Africa. The immediate implication of this slump is that Eagles

now risk losing top seed at the AFCON and 2022 World Cup qualifiers. The Super Eagles are now ranked behind Senegal, Tunisia, Algeria and Morocco in the African standing. In the new rules for seeding teams, each country’s standing in the FIFA ranking is now crucial as one of the yardsticks

Glo Delights Fans with Live Telecast of EPL Matches

Football fans in Nigeria and Ghana have been assured of live broadcast of English Premier League (EPL) matches on SuperSport channels on DSTV all through the year as the 2021/2022 season officially kicks off tonight. Brentford Community Stadium, West London will host the first match of the season tonight when Arsenal lock horns with newly promoted club side, Brentford FC. Corporate Supporter of Football in Africa, Globacom, which has sponsored the broadcast of EPL matches

for the past nine seasons, said on Thursday that it remained committed to ensuring that football fans enjoy all the matches live, with 380 fixtures available from now until May, 2022, when the champions of the league will be crowned. “A major attraction for football lovers on the continent is the English Premier League, and our sponsorship of live broadcast of the matches is aimed at giving more value to our subscribers and the public at large and ensuring that they watch every match from the comfort of their homes

or viewing centres” Globacom said in a statement. The company added that, “The fabulous joy the game brings to football fans on the continent underscored why we have consistently sponsored the live broadcast on Supersports since 2013/ 2014 league season”. With clubs reinforcing their teams with new players, the 2021/22 league season promises to be an exciting one. “We wish the clubs and their fans across the world an exciting football season”, Globacom concluded.

to be used to seed teams for next year’s AFCON in Cameroon as well as for the final 2022 World Cup playoffs in March. Super Eagles Manager, Gernot Rohr did not have the full compliment of his foreign legions to prosecute the friendlies against Mexico as almost all the Nigerian stars were on vacation at the end of the seasons in Europe. The NFF was therefore forced to resort to players from the domestic NPFL to prosecute the clash with the Mexicans. They lost 4-0 to the Mexicans who used the game to prepare for their Gold Cup clash. A mainly experimental Super Eagles fell 1-0 to the Indomitable Lions in a first friendly in Austria, before they held the same team to a scoreless draw in a rematch days later. The Teranga Lions of Senegal remain Africa’s number one team and 21st in the world and Tunisia are second on the continent and occupy 28th on the global ranking. In-form Algeria climbed 12 places to 30th in the world and third in Africa and Morocco are now 32nd and fourth in Africa. Belgium remain at number

AFRICA’S TOP 10 1.

Senegal

Tunisia

Algeria

Morocco

Nigeria

Egypt

Ghana

Cameroon

Cote d’Ivoire

10. Mali one, Brazil are second, France third, England fourth and Euro 2020 winners Italy are fifth. In sixth place is Argentina, the seventh spot has Spain while Portugal, Mexico and USA are eight, ninth and tenth respectively. The next FIFA/Coca-Cola Men’s World Ranking will be published on 16 September 2021.

FRIDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Newcomers Brentford Host Arsenal in Season’s Opening Battle Tonight PREMIER LEAGUE FIXTURES TODAY (@8pm) Brentford v Arsenal SATURDAY Man Utd v Leeds Burnley v Brighton Chelsea v Cry Palace Everton v Southampton Leicester v Wolves Watford v Aston Villa Norwich v Liverpool SUNDAY Newcastle v West Ham Tottenham v Man City

LEAGUE 1 Arsenal Manager, Mikel Arteta, (4th left) and his wards plotting how to open the new 2021/22 Premier League season in ﬂying colours against newcomers Brentford ...tonight Newly promoted Brentford will launch the 2021-22 English Premier League season when they host Arsenal tonight at 8pm - the first of 380 matches over the next nine months. The London derby at the Brentford Community Stadium - the first league meeting between the two clubs since 1947 - takes place 33 days after the Euro 2020 final at Wembley. Champions Manchester City, who have smashed the British transfer record to sign Jack Grealish from Aston Villa for £100m, begin their title defence at Tottenham on Sunday. UEFA Champions League winners Chelsea will host Crystal Palace tomorrow at 3pm. Defending champions Manchester City have won the Premier League

PREMIERSHIP in three of the past four seasons but can anyone stop them this time? Manchester United were City's nearest rivals last time out but finished 12 points back and have still not sustained a serious title bid since they were last champions in 2013. Will United challenge for top spot until the end in 2021-22? How will Liverpool respond after their title defence imploded at the start of the year? Can Chelsea be contenders again domestically after conquering Europe? And will Leicester, Arsenal, Tottenham or anyone else break into the Champions League places? While Brentford - nicknamed the Bees - are competing in the

Premier League for the first time, Watford and Norwich have both made quick-fire returns after being relegated in 2019-20. Four clubs - Crystal Palace, Wolves, Everton and Tottenham – will start the season with new bosses. Speaking about the new season, Ole Gunnar Solskjaer, manager of last season's Premier League runners-up, Manchester United, said: "This season is going to be one of the strongest Premier League seasons. "Anyone who ends up above last year's champions will be champions," stressed the United manager. For the first time in 17 months, capacity crowds will be allowed following the easing of coronavirus restrictions.

FIXTURES

P R E M I E R L E A G U E TA B L E Pos 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Team Arsenal Aston Villa Brentford Brighton Burnley Chelsea Crystal Palace Everton Leeds Leicester Liverpool Man City Man Utd Newcastle Norwich Southampton Tottenham Watford West Ham Wolves

P 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

W 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

TODAY (@8pm) D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

L 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

GD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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Lorient v Monaco SATURDAY Lille v Nice PSG v Strasbourg SUNDAY Angers v Lyon Brest v Rennes Clermont v Troyes Nantes v Metz Reims v Montpellier Lens v Saint-Etienne Marseille v Bordeaux

BigSigningsSoFar:Grealish, Sancho, Varane & White *Man City

NEW MANAGERS IN THE DUG OUT... L-R: Tottenham's new Manager, Nuno Espirito Santo, Rafael Benitez of Everton, New Wolves Manager, Bruno Lage and Crystal Palace's Patrick Vieira.

New Managers in the Dug Out One-fifth of clubs in the Premier League have changed managers since the final day of last season on 23 May. *Nuno Espirito Santo, who guided Wolves to two top-seven finishes, the FA Cup semi-finals and Europa League quarter-finals before leaving in May, has taken over at Tottenham, who had Ryan Mason in caretaker charge at the end of last season following

Jose Mourinho's sacking. *Rafael Benitez is back in the Premier League after a two-year absence following his appointment at Everton - which has not been well received by all Toffees fans. The former Liverpool manager, who has replaced Carlo Ancelotti, called Everton a "small club" after a draw in the Merseyside derby in 2007. "It was a long time ago,"

Benitez, just the second man to take charge of both Everton and Liverpool, replied to a question about his "small club" comment.

*Lage

Former Benfica boss Bruno Lage has replaced fellow Portuguese Nuno at Wolves, while France 1998 World Cup winner Patrick Vieira is the new boss at Crystal Palace.

Manchester City, who finished 12 points clear at the top last season, have shown they mean business again by spending £100m on Aston Villa captain and midfielder Jack Grealish. The fee surpasses the £89m Manchester United paid to re-sign midfielder Paul Pogba from Juventus in 2016. In addition, City have indicated an interest in Tottenham striker Harry Kane as they aim to win the league for the fourth time in five seasons under Pep Guardiola. With the summer transfer window deadline 23:00 BST on 31 August, clubs still have time to strengthen squads once the season has started.

*Man Utd

Manchester United have spent £107m on England winger Jadon Sancho and France 2018 World

Cup winning defender Raphael Varane.

*Chelsea

Chelsea completed the signing of former Manchester United striker Romelu Lukaku from Inter Milan for a fee in the region of £97.5m, while Arsenal have signed Brighton's England defender Ben White for £50m as the Gunners look to improve on last season's eighth place.

*Liverpool

Liverpool, who have Virgil van Dijk and Joe Gomez back in contention after long-term injuries, have added defender Ibrahima Konate from RB Leipzig for £35m.

*Aston Villa

Elsewhere, Villa have spent a combined £83m on England striker Danny Ings, Argentine

midfielder Emiliano Buendia from Norwich and winger Leon Bailey from Bayer Leverkusen.

*Leicester

FA Cup winners Leicester, who beat Manchester City in the Community Shield last Saturday, have added midfielder Boubakary Soumare from Lille for a reported £17m.

*Tottenham

Tottenham have signed Argentina defender Cristian Romero from Atalanta for £42.5m.

*Aguero, Giroud, Aguero & Wijnaldum

Notable outgoings include Manchester City's Sergio Aguero to Barcelona, Chelsea's Olivier Giroud to AC Milan and Liverpool's Georginio Wijnaldum to Paris St-Germain.

Friday August 13, 2021

UTH

& R E ASO

Price: N250

MISSILE Reno Omokri to FG “Does it make sense to ask Nigerians to forgive people who have killed innocent Nigerians when the same Buhari government wants to prosecute Sunday Igboho for protecting the same innocent Nigerians? How many people has Buhari himself forgiven? Has he forgiven Dasuki?” – Social Critic, Reno Omokri, faulting the call for Nigerians to forgive repentant Boko Haram members.

UT H

& RE A S O

26 years

ERICOSAGIE GUEST COLUMNIST

Capt Hosa: The Final Flight D

eath has dealt a deadly blow on the ancient city. Benin Kingdom is in mourning; Edo state grieves the loss of an illustrious son. Nigeria mourns the exit of a hero and patriot. He was a hero of his people and many across the country, who benefitted from a heart filled with the milk of human kindness. That Capt. (Dr.) Idahosa Wells Okunbo’s death is eliciting thunderous emotions and sentiments in the land cannot be unexpected: When an Iroko falls in the forest, everywhere vibrates, the earth quakes, the leaves crumble in obeisance to the force of gravity. And everyone can tell that something consequential has occurred. Capt. Hosa or Capi to his numerous friends and admirers falls in the category of men, of whom William Shakespeare wrote, “When beggars die there are no comets seen, but the heavens blaze forth the death of princes.” Since early Sunday morning of August 8 when news of his death filtered in from London, after a protracted battle with the big C, it has been a torrent of tears, deluge of condolence messages, reminiscences on the life and times of the renowned ex-commercial pilot, business mogul, philanthropist and humanist. From President Muhammadu Buhari, ex-military leader, Ibrahim Babangida, Gov. Godwin Obaseki, former governors John Odigie-Oyegun, Comrade Adams Oshiomhole to other notable Nigerians, numerous friends and associates and all those who knew him or had contact with him while he lived, it’s been the same tale: A good man, a dependable brother and friend, an astute businessman, a genial family man; a man of peace and lover of people, city and country; an international businessman but firmly rooted in the rich culture of the Benin kingdom. For a writer who lives by the word and has done countless columns on several subjects and subject matters, this is one tribute that has been difficult for me to write: He was an elder brother, a maternal relative whom I had several interactions with. We had a special relationship. He was always proud to introduce me as his brother. “This is Eric Osagie. You know him na? He is my relation, a blood relation.” He often told me how kind my late mother was to him. Another incident that comes to mind was in 2008. I had just assumed duties as one of Comrade Oshiomhole’s first three appointees after he was declared winner November 9, 2008. I was Special Adviser on Public Affairs and Strategy. Capt. Hosa was one of the first callers at the Government House, being one of those who heavily supported his emergence.

Okunbo

On seeing me, he engaged me in a bear hug, “Comrade, this is my brother I am told is now with you.” Turning to me, he said “Look, you have to come to the house. Where are you staying? You can’t be in a hotel when I have a house in this city.” Exigencies of duty didn’t make me visit him often during my brief sojourn in Oshiomhole’s government. I exited barely a year after. However, when once I sauntered in at his Benin residence, he was quite glad to receive me. “Look, this is your home. You can come in anytime you want, and go anywhere you want.” He told his wife, “Na my cousin be this o. Dey treat am well o.” However, we got particularly close in the past few years. Being a big player in the corporate world, it was not unexpected he would have issues that had to do with interface with the public. That’s where I came in. He respected my views on media issues, which he often sought and got. Especially on his business forays which brought him in conflict with friends and foes in the shark-infested world of business. Politics and his political alliances were not where we often agreed, even though I respected and conceded to him his right (of choice.) To demonstrate his love for me as well as his generosity of heart, he not only attended the launch of my book: THE BIG INTERVIEWS at the Shehu Musa Yar’Adua Center, Abuja on December 10, 2019, he shocked me and everyone when he emerged the highest donor, a pledge he redeemed in less than 48 hours! It was not just his donation that touched me, it was the fact that he had to cancel a previously scheduled

business trip abroad. “Look, Eric, if it’s for you I have no reason not to come. Don’t forget you are my own brother. You have also been very helpful to us in the company.” If I thought he was joking, I couldn’t have been more wrong. He was one of the early arrivals, just like Alhaji Ismaila Isa Funtua (who was chairman), Uncle Sam Amuka, John Odigie-Oyegun, Adams Oshiomhole, representatives of Asiwaju Bola Ahmed Tinubu, Gov. Aminu Bello Masari and my friend and brother, Gov. Nyesom Wike. Capt. Okunbo not only came, he sat through the event and shook the gathering when it came to his turn to mount the rostrum. “For all the good work you have been doing for us at OMS, I will donate N15m; and for family, since you are my brother, I am donating the sum of N10m on behalf of myself and other members of the family.” The hall erupted! Am I then remembering him or engaged in this eulogy simply for his generosity of heart, his deep concern and affection for others or because he was a relative or kinsman? Of course, not. Capt. Idahosa Okunbo was a truly good man; a large-hearted and compassionate man. There are several testimonies to the assistance he rendered to persons and families in distress, many of whom he hadn’t met or even remembered their names or faces. He just loved to give. He just loved to put smiles on people’s faces. He himself always wore a broad and bright smile. Being from an indigent background, he had seen and tasted poverty. He knew it didn’t taste well. So, all his life was a struggle to conquer the monster and liberate others from its suffocating grip. He succeeded, largely. To the Glory of God. Capt. Okunbo worked hard and played hard. He loved humanity, he loved people, all persons. He didn’t discriminate on the boundaries of ethnicity, religion, gender, class or those primordial sentiments that put a barrier between man and man, and kept our country glued to backwardness. He had friends and associates from different parts of the country. The world was his oyster. Of course, he was no saint; neither was he infallible. No man is. However, his flaws weighed against his pluses clearly revealed a man with a clean heart, with malice towards none. If he felt hurt, his anger quickly disappeared and dissolved in the morning dew. What could count as his major flaw ( if you could call it that) was that he was often too trusting of friends, acquaintances and business allies. He suffered serial betrayals on account of this. He was no politician, even though he had political allies and alliances. I

believe some of them took advantage of his generally good nature to feather their personal nest. I didn’t think he understood the wiles and guises of political sharks. I thought he shouldn’t have got involved as he did. We disagreed in that regards. For me, there are three takeaways in the life and times of Capt. Hosa: Love. Commitment. Patriotism. He loved genuinely. He gave genuinely. He was committed to family, friends and community. He was a proud Benin and Edo son; a patriotic Nigerian, who invested his energy and resources to galvanise the Nigerian economy, as attested to by no less a personality than President Buhari. Though some forces might have tried to portray him unkindly in some aspects of his business dealings in the maritime sector, his invaluable and patriotic contributions to national development the country would certainly be appreciated in the fullness of time. He was concerned about service to his country. Yes, he was an extremely brilliant man. A pilot at barely 21, and retired commercial flight captain at age 30. He then established a chain of businesses and had his hands in several pies: oil and gas, maritime, real estate, security, hotel and hospitality, agriculture among others, and was quite remarkable in all the ventures. He told me how his training as a pilot gave him the fillip in business, in terms of critical and strategic thinking. “As a pilot, you are always taking decisions, critical decisions. You are constantly engaged in risk analysis. For example, If you are flying and you have 200 persons on board, you are carrying the fate, the destinies of all of them in the cockpit. There are persons who have weddings to attend; some have exams, job interviews, hospitals, holidays and so on. Now, if there is an emergency or you have to make an air return, you are the only one who is seeing what they are not seeing, the dangers ahead or the safety. You have to do a risk analysis: Do you continue the journey or not? You just take a decision. You may inform the passengers; sometimes you don’t. You just do your risk analysis, take a decision and see it through. There’s no room for prevarication or indecision when you are in the cockpit. One fatal error, everyone goes down. That critical thinking, risk assessment have come in handy in my business decisions.” Now, Capt. Hosa will no longer fly as a pilot or in the business world, where he towered as a colossus. He has embarked on his final flight. The flight of no return. Only memories, fond memories of his remarkable life and times are etched in many hearts! Adieu, Captain Idahosa Wells Okunbo!!

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